Development of the monetary and financial system: nature and functions of money, organization and operation of commercial banks and the Federal Reserve System and an introduction to monetary theory and policy.
Intermediate Microeconomics applies economic analysis to the process of managerial decision making. Topics include consumer theory, production theory, supply and demand, elasticity, and managerial decision making under various market structures. Additional topics may include regression analysis, alternative explanations of wage rate determination, income inequality, and discrimination.
An analysis of aggregate production, employment, income, and price level from different theoretical perspectives.
Analysis of the historical and theoretical basis for international trade and the politico-economic institutions that facilitate and impede it. Critical survey of themes associated with economic "globalism".
The study of economic concepts and doctrines within the social context of the past and their impact on the development of economic theory and methodology.
An interdisciplinary approach to basic social science research methods. The course introduces students to the several research methodologies used within the social sciences. Students participate in all stages of a research project.
Ordinary least squares regression, including underlying assumptions and interference in both simple and multiple regression models is discussed, as are dummy variables, model structure, and functional form. Methods designed to detect and correct for the violations of the standard assumptions are examined. The effects of individual observations and of correlation among independent variables are also discussed. Additional topics include simultaneous equations, time series, limited dependent variable, and panel data models.