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Duluth Courses

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ECONOMICS (ECON)
Labovitz School of Business and Economics
Economics
 
ECON 1003 - Economics and Society (SOC SCI, LE CAT8)
(3.0 cr; Prereq-Cannot apply credit to economics major or minor or BAc or BBA majors; A-F or Aud, spring, every year)
General description of U.S. economy and analysis of contemporary economic problems. Introduction to major economic issues and problems of the day, providing a simple framework used by economists for analysis.



ECON 1022 - Principles of Economics: Macro (SOC SCI, LE CAT6)
(3.0 cr; Prereq-Minimum 15 credits or department consent; A-F or Aud, fall, spring, summer, every year)
Analyzing overall performance of an economic system. National income accounting and theory, unemployment, inflation, fiscal policy, money, monetary policy, economic growth, international trade, non-U.S. economies, and real-world application of these concepts.



ECON 1023 - Principles of Economics: Micro (SOC SCI, LE CAT6)
(3.0 cr; Prereq-Minimum 15 credits or department consent; A-F or Aud, fall, spring, summer, every year)
Analyzing free enterprise system through study of product and resource markets. Supply and demand, utility, production and cost, market structure, resource use, market failures, regulatory role of government, and real-world application of these concepts.



ECON 2030 - Applied Statistics for Business and Economics (LOGIC & QR)
(3.0 cr; Prereq-minimum 30 credits, LSBE student, pre-business or pre-accounting or Econ BA major or Econ minor or Accounting minor or Business Admin minor; credit will not be granted if already received for Econ 2020, Stat 1411, Stat 2411, Stat 3611, Soc 3151, Psy 3020; A-F or Aud, fall, spring, summer, every year)
Introduction to modern business statistics, emphasizing problem solving through statistical decision making using case studies. Topics include organization and presentation of data, summary statistics, probability theory, distributions, statistical inference including estimation, hypothesis testing, introduction to regression and correlation, introduction to use of computers in statistical analysis.



ECON 3022 - Intermediate Macroeconomics
(3.0 cr; Prereq-1022, 1023, Math 1160 or Math 1296, Econ major or minor or LSBE candidate; A-F or Aud, fall, every year)
Determinants of national income, employment, and price levels with particular attention to aggregate demand and aggregate supply, and monetary and fiscal policy.



ECON 3023 - Intermediate Microeconomics
(3.0 cr; Prereq-1022, 1023, Math 1160 or Math 1296, Econ major or minor or LSBE candidate; A-F or Aud, spring, every year)
Behavior of households as consuming units and suppliers of resources; analysis of decision making by firms under various market conditions.



ECON 3030 - Econometrics I
(3.0 cr; Prereq-1022, 1023, (2030 or Stat 1411 or Stat 2411 or Stat 3611), Math 1160 or Math 1296, Econ major or minor or LSBE candidate; A-F or Aud, fall, every year)
Techniques used in analyzing economic and business data; emphasis on computer methods and research applications. Analysis of variance, qualitative data analysis, modeling, regression, residual and influence analysis, time series.



ECON 3031 - History of Economic Thought (LE CAT7)
(3.0 cr; Prereq-1003 or 1022, 1023; A-F or Aud, fall, summer, every year)
Development of economic ideas, principles, and systems of analysis from early times to present, emphasizing personalities and historical events surrounding development of economic thought.



ECON 3150 - Development Economics
(3.0 cr; Prereq-1022, 1023; A-F or Aud, spring, every year)
Overview of the conceptual meaning of economic growth and development, problems facing developing countries, economic models underlying different development paths. Exploration of socio-historical and economic reasons for lack of development in selected areas and policy options to promote economic progress.



ECON 3311 - Money and Banking
(3.0 cr; Prereq-1022, Econ major or minor or LSBE candidate; A-F or Aud, fall, spring, every year)
Role of financial institutions and markets, emphasis on Federal Reserve System and its control of commercial banking system, monetary theory and policy, and international economics.



ECON 3314 - Sports Economics
(3.0 cr; Prereq-1022, 1023, Econ major or minor or LSBE candidate; A-F or Aud, fall, every year)
This course will introduce and apply microeconomic concepts to issues that arise or pertain to the business and practice of sports. The relevant areas of microeconomics include industrial organization, antitrust, game theory, labor, public finance and urban economics. When and where possible, current real world applications of economics in the sporting world will be discussed.



ECON 3402 - Global Economic Issues
(3.0 cr; Prereq-LSBE candidate or Econ major or Econ minor; A-F or Aud, fall, every year)
Application of economic theory of markets to analyze major issues shaping the future of the world economy. Emphasizes globalization of markets and the institutions involved in coordinating economic policies among world economies



ECON 3512 - Managerial Economics
(3.0 cr; Prereq-1023, (2030 or Stat 3611), minor or LSBE cand; A-F or Aud, fall, every year)
Application of economic theory to management decision making and policy formulation within the firm. Demand analysis, production and cost analysis, price analysis, capital budgeting. Strategic interaction of firms.



ECON 3721 - Natural Resource and Energy Economics
(3.0 cr; Prereq-1023, preferred but not required: 3023; credit will not be granted if already received for ECON 4721; A-F or Aud, spring, odd academic years)
Microeconomic analysis of natural resource and energy markets. Role of these resources in production processes and waste generation, use and pricing of nonrenewable and renewable resources over time, resource availability, sustainable development, and ecological economics.



ECON 3777 - Environmental Economics
(3.0 cr; Prereq-1023, preferred but not required: 3023; credit will not be granted if already received for ECON 4777; A-F or Aud, spring, even academic years)
Microeconomic analysis of environmental quality as an economic good. Pollution control, benefit-cost analysis, valuation methodologies and their application to air and water quality, hazardous waste management, preservation, and global pollutants.



ECON 3821 - Labor Economics: Theory and Issues
(3.0 cr; Prereq-1023, preferred but not required 3023, Econ major or minor or LSBE cand; A-F or Aud, fall, every year)
Labor markets from theoretical and institutional perspectives, including wage theories, labor supply, labor demand and employment, human capital investments, and occupational choice.



ECON 3910 - Economics of Health Care
(3.0 cr; Prereq-1022, 1023, Economics major or minor or Health Care Management minor or LSBE cand; A-F or Aud, fall, spring, every year)
Explores the health care sector and health policy issues from an economic perspective. Topics to be examined include the demand for health and medical care services, health insurance markets, federal health insurance programs, and the pharmaceutical industry.



ECON 4040 - Econometrics II
(3.0 cr; Prereq-3030 or Stat 5511 or MKTG 3761; A-F or Aud, spring, odd academic years)
Development and application of tools of economic research and analysis; emphasis on critical thinking using computer-based statistical methods. Econometrics (theory and practice), applied research techniques, economic forecasting, and time series analysis. Research report.



ECON 4213 - Mathematical Economics
(3.0 cr; Prereq-1022, 1023, Math 1160 or Math 1296; A-F or Aud, fall, even academic years)
Application of fundamentals of differential and integral calculus and linear algebra to static, comparative static, and dynamic topics in microeconomics and macroeconomics.



ECON 4315 - Monetary Theory and Policy
(3.0 cr; Prereq-3022; A-F or Aud, spring, even academic years)
Development of monetary theory and implications of theory for Federal Reserve System's control of money supply and financial institutions, money market strategy, and monetary policy, including goals, targets, and indicators.



ECON 4397 - Economics Internship
(3.0 cr; =[ECON 4497]; Prereq-Econ major, 3022, 3023, instructor consent; no grad credit; S-N only, fall, spring, summer, every year)
Following written approval of proposal, student engages in supervised program of half-time work experience in public agency, private business, or other organization. Advance, concurrent, and follow-up written and oral presentations required. 20 hr per wk over 15 wk period.



ECON 4410 - International Economics
(3.0 cr; Prereq-1022, 1023, 3022 or 3023, no grad credit; A-F or Aud, spring, odd academic years)
Classical and modern theory of international trade. Extension, empirical verification, and applications of modern theory. Alternative theories of international trade. Concept and measurement of balance of payments. Methods of balance of payments adjustments. Alternative international monetary systems. Selected current issues.



ECON 4512 - Firm Decision and Strategy
(3.0 cr; Prereq-3023, 3030 or STAT 5511; no grad credit; A-F or Aud, spring, even academic years)
Applied microeconomics combining topics that focus on decision-making faced primarily by private institutions from the Managerial and Industrial Organization fields. Topics include demand for products, production and costs, pricing and output decision, and antitrust law.



ECON 4570 - Public Finance
(3.0 cr; Prereq-1022, 1023; A-F or Aud, spring, odd academic years)
Theory and practice of determining governmental expenditures and revenues, including consideration of public goods, welfare economics, raising of revenues, debt policy, and economic stabilization.



ECON 4613 - The Economics of Antitrust and Regulation
(3.0 cr; Prereq-1023, 3023; A-F or Aud, spring, odd academic years)
Alternatives open to a free-enterprise economy when economic goals have not been satisfactorily achieved by the private sector. Public regulation and antitrust legislation and enforcement examined as a means of social control when unacceptable market failures exist.



ECON 4935 - Urban/Regional Economics
(3.0 cr; Prereq-1003 or 1022, 1023, preferred but not required 3023; A-F or Aud, fall, every year)
Allocation of unevenly distributed and imperfectly mobile resources. Alternative theories relating to urban and regional growth processes. Analysis of intraregional structures as contributors to growth process. Selected economic problems unique to urban communities.



ECON 4991 - Independent Study
(1.0 - 6.0 cr [max 6.0 cr]; Prereq-Economics major, 12 credits of Econ 3xxx or above, instructor consent; A-F or Aud, fall, spring, summer, every year)
For students wishing to do special work in areas useful to individual programs and objectives and not available in regular course offerings.



 
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