Economics Courses

Economics Courses

101. Introduction to Economics
Explores essential concepts for understanding modern economic activity and economic issues involving public policy. (Credit, full course.) Staff

110. Women, Family, and Work in the Muslim World
The seminar focuses on an analysis of the status of women and men in the family and in the labor market in different regions of the Muslim world. It considers the images, expectations, roles, and relations that both differentiate and connect the experiences of men and women in the United States and Muslim countries in South Asia, Southeast Asia, North Africa, the Middle East, and West Asia. Issues of women’s work, access to resources, occupational segregation, political leadership, feminization of poverty, and women’s rights are analyzed for Pakistan, Bangladesh, Iran, Turkey, Indonesia, Saudi Arabia, Nigeria and Sudan. No prerequisite. This is a First Year Program course. (Credit, full course.) Mohiuddin

113. Economics of Social Issues
Through an issues-oriented approach to the study of economics, basic economic concepts and principles are introduced and developed through the study of various social issues such as human misery, government control of prices, higher education, energy, crime, pollution, "bigness," trade protection, health, discrimination, unemployment, inflation, and the national debt. (Credit, full course.) Staff

201. Quantitative Methods in Economics
Application of quantitative methods to the study of economic phenomena and problems include development of measures of central tendency and dispersion, probability, sampling distributions, estimation and hypothesis testing, regression, time series analysis, index numbers, and the structure of economic models. Prerequisites: Economics 101 and Mathematics 101. Not open for credit with Math 204. (Credit, full course.) Williams

215. Fundamentals of Financial Accounting
The instructional objective is to provide students with an understanding of the concepts that are fundamental to the use of accounting. A decision-making approach is employed which involves critical evaluation and analysis of information presented. Important analytical tools are integrated throughout the course. (Credit, full course.) Heinemann

216. Fundamentals of Managerial Accounting
The course focuses on the internal use of accounting information in the formulation of management decisions. Students learn how financial systems can add value to a company. Different costing systems, budgetary planning, and incremental analysis are among the course contents. A field trip is included. Prerequisite: Economics 215. (Credit, full course.) Heinemann

301. Money and Banking
A study of the American monetary and banking systems, with particular attention to commercial banking, the Federal Reserve System, monetary theory, and monetary policy. (Credit, full course.) Staff

302. Economics of Financial Markets
This course examines the economics of financial markets, with a focus on stock and security markets. Emphasis is on the economic theory and concepts that underlie financial markets and corporate finance. Topics include the capital budgeting decision of firms, asset pricing models, portfolio theory, efficient markets theory, security analysis and financial derivatives, including forward markets, future markets and options. Prerequisite: Economics 101. (Credit, full course.) Williams

304. Labor Economics
This course uses microeconomic theory to analyze the economics of work. The demand for and the supply of labor are the basis for analyzing a wide range of observed outcomes in the labor market, including wage determination and employment. Topics with important policy implications include human capital and educational investments, economics of the highly paid, unions, immigration policy, fringe benefits, unemployment insurance, race and gender discrimination, minimum wage policies, welfare policy, and the distribution of income. (Credit, full course.) Williams

305. Microeconomic Theory
Studies the behavior of consumers, firms, and industries, and the conditions of equilibrium in output/input markets and in the economy as a whole. (Credit, full course.) Gottfried

306. Macroeconomic Theory
The theory of economic growth, employment, and the price level. (Credit, full course.) Mohiuddin

309. Women in the Economy
This study of the relative economic status of women and men in the U.S., and how it has changed over time, focuses on sex differentials in earnings, occupational distribution, labor force participation and unemployment rates, levels and types of education and experience. Includes an analysis of the reasons for such differentials (e.g., the motivations for discrimination), their history, and cross-cultural variations in female status (with particular emphasis on Africa and Asia). Analyzes the effect of law and policy in the U.S. on the status of women. (Credit, full course.) Mohiuddin

310. Economic Development in the Third World
The nature, causes, and possible solutions of hunger, malnutrition, and poverty in the Third World, with focus both on those countries and the role of the United States. (Credit, full course.) Gottfried, Mohiuddin

315. Industrial Organization and Public Policy
Discusses the economic performance of firms and industries; the importance of industrial structure in determining performance; the problem of monopoly, business behavior, and performance; public policies to promote competition; and public regulation. (Credit, full course.) Staff

316. Public Policies toward Business
The nature and effects of U.S. governmental policies on the business sector focuses on theoretical and empirical analyses of antitrust, public utility regulation, environmental controls, consumer protection, and labor relations. (Credit, full course.) Ingles

326. Growth Theory
This course examines classical and modern theories of long run economic growth. Emphasis is placed on the comparative experience of developed and less developed countries. Relevant topics include capital formation, investment, technology, deficits, graft, and institutional analysis. Prerequisite: Economics 101. (Credit, full course.) Bradbury

329. Law and Economics
This course examines how legal rules and institutions create economic incentives and affect behavior. The course is organized around the three major areas of the common law — property, tort, and contract law — and criminal law. Both a jurisprudential and an economic theory of the law are introduced and developed. Economic analysis is used to predict the behavior and outcomes that will result from various legal rules and to evaluate which legal rules are "best" in terms of economic efficiency. (Credit, full course.) Williams

330. Dynamics of the Financial System
Considers origins and performance of the dual and central bank system of the United States with particular emphasis on the postwar financial experience and financial innovation relative to financial crises and panics. Also contemplates necessary changes, developments, and theories for the future. Pre-requisite: Econ 301. (Credit, full course.) Staff

331. Public Finance and Fiscal Policy
Examines the economic function of government: allocation of resources, distribution of income, stabilization. Revenue structure: federal, state, and local taxation. Government expenditure: the federal budget, criteria for evaluating government expenditures, specific programs. Fiscal policy. (Credit, full course.) Bradbury

333. Econometrics
This course introduces economic research methods and requires development of an individual research effort. Econometric (quantitative) analysis is also introduced and applied with the use of econometric software. Prerequisites: Economics 101 and either Math 204 or Econ 201. (Credit, full course.) Staff

335. Environmental Economics
A study of the causes of and solutions for pollution and environmental degradation weighs the value of ecosystems and their role in sustaining economic activity. Applies cost/benefit analysis to environmental issues and provides an introduction to economics of nonrenewable and renewable resources such as mines, forests, and fish. (Credit, full course.) Gottfried

337. International Economics
Presents historical, institutional, and theoretical study of international trade, finance, and the international monetary system. The position of the United States in the world economy is examined. International economic institutions, such as the International Monetary Fund, are analyzed. Attention is given to current developments and problems. (Credit, full course.) Staff

340. Introduction to Mathematical Economics
Studies the mathematical formulation of economic theory by examining selected topics drawn from micro and macroeconomic models, general equilibrium analysis, input/output analysis, static and dynamic analysis, and linear programming. (Credit, full course.) Staff

345. Economic Development in China
More information: http://www.sewanee.edu/economics/Summer_in_China_broch.pdf A study of the nature of the "development" problem and of policy issues facing the heterogeneous category of developing economies focuses on the contemporary Chinese economy, in transition and undergoing reform. Applies theoretical and fieldwork-based analysis to issues pertaining to agricultural and industrial development, income distribution and poverty alleviation, privatization and development of the market, labor markets and human capital formation, women's empowerment, and international trade. (Credit, full course.) Mohiuddin

346. Emerging Capital Markets in East Asia
This course provides a generic introduction to the various kinds of financial markets such as the markets for money, bonds, stocks, and foreign exchange. It focuses on the factors that affect the bond and the stock markets in general and in a group of emerging capital markets in South East Asia in particular. Case studies include China, South Korea, Singapore, Thailand, and Malaysia. The course deals with a theoretical and empirical study of the bond and stock markets in China, the only country in the group that has the unique characteristics of a transition economy. (Credit, full course.) Shabbir

347. Microfinance Institutions in South Asia
More information: http://www.sewanee.edu/economics/South_Asia_broch.pdf The course provides an overview of the microfinance industry: its origins, evolution, theoretical underpinnings, and empirical evidence. It focuses on both the tools of microfinance operation such as financial management and lending methodologies, and on the basic issues and policy debates in microfinance, such as impact assessment, poverty targeting and measurement, and sustainability. The course cannot be used in fulfillment of the general distribution requirement in social science. This course is being offered as part of the Summer in South Asia Program. (Credit, full course.) Mohiuddin

381. The Political Economy of Sustainable Development (Also PoliSci 381)
This course examines the different configurations of market, state, and cultural forces presented by societies as they respond to the challenges associated with attempting to meet present needs and demands without compromising their natural and social base for meeting the needs of the future. Theoretical discussions are combined with case studies. Course is identical to Econ 461 with the exception that special attention is given to research in 461. Students taking this course may not take PolS 461. (Credit, full course.) Brockett

401. History of Economic Thought
Presents economic thought throughout history, but primarily the classical, Marxian, neoclassical, and Keynesian schools. Leading writers are considered chronologically, with emphasis on Smith, Ricardo, Malthus, Marx, J.S. Mill, Marshall, and Keynes. (Credit, full course.) Ingles

410. Research Seminar in Economics
An introduction to specific fields of literature and the empirical methods of research used to produce that literature. The first half of the semester is devoted to learning econometric modeling methods and the second half to applying these methods. All students are required to produce a major paper based on original empirical research. This course is restricted to senior economics majors. Prerequisites: Economics 333 and senior standing. The prerequisite of Econ 333 applies only to students entering Sewanee in the advent semester of 2002 and after. (Credit, full course.) Bradbury

411. Literature Seminar in Economics
An introduction to the great works of scholarship produced throughout the history of economics with emphasis on the development of economic theory and ideas. All students are required to produce a major research paper. This course is restricted to senior economics majors. Prerequisites: Senior standing. (Credit, full course.) Ingles

444. Independent Study
Advanced work for selected students. May be repeated. Particularly recommended for candidates for honors in economics. Also open to students other than economics majors. (Credit, full course.) Staff