2009-2011 - Benedict College

86 BUSINESS AND ECONOMICS
ECONOMICS COURSES
EC 130 Introduction to Economics
credit 3 hrs.
A course designed to acquaint students with the operation of American Economics System with a concise
presentation of Economic Theory and Policy with real world applications to problems of inflation,
unemployment, poverty, discrimination and globalization. Prerequisite: None
EC 230 Principles of Economics I
credit 3 hrs.
The course is an introduction to the principles of modern economics. The material covered deals with
the principles of macroeconomics—the economics of a state, nation, or any other large aggregate unit.
Topics covered are the determination of national income; the effect of savings, consumption, government
spending, and investment on national income; and macroeconomic policies to combat unemployment
and inflation. Prerequisite: BA 130.
EC 231 Principles of Economics II
credit 3 hrs.
The material covered in this course encompasses the subject matter of microeconomics—the economics
of the individual business firm, household, or person. Specific topics covered are the central
problems faced by the market; demand and supply analysis; the determination of prices; the product
and factor markets under the conditions of perfect and imperfect competition; and analysis of private
and social costs. Prerequisite: BA 130.
EC 331 Intermediate Macroeconomic Theory
credit 3 hrs.
The course is a study of monetary and fiscal theory at the intermediate level. Topics such as the quantity
theory of money and Keynesian economic analysis are covered. Tools of macroeconomic analysis
are used to analyze the problems of unemployment, inflation, economic growth, and the balance of
payments. Prerequisites: EC 230 and EC 231.
EC 332 Intermediate Microeconomic Theory
credit 3 hrs.
The course emphasizes price theory at the intermediate level. Specific topics covered are indifference
curves, marginal utility, cost curves, and product and factor markets. The tools of microeconomic
analysis will be used to analyze the problems of environment, income distribution, and economic welfare.
Prerequisites: EC 230 and EC 231.
EC 333 Public Finance
credit 3 hrs.
The course is a study of the principles of government expenditures, taxes, credits, and their effects on
resources allocations, income distribution, and economic stability. Special emphasis is given to federal,
state, and local relations in revenue expenditures. Prerequisites: EC 230 and EC 231.
EC 334 Banking and Monetary Theory
credit 3 hrs.
The course examines the role of money and credit in the national economy, the development of monetary
and fiscal policies and related problems, and the link between theories and central bank and
treasury operations. Prerequisites: EC 230; EC 231; Fin 330.
EC 335 Intro to Econometrics
credit 3 hrs
Topics covered include identification, measurement, specification, estimation, and interpretation of
functional relationships through single equation least square techniques, use of lagged and dummy
variables in regression and economic modeling.
EC 431 Urban Economics
credit 3 hrs.
The course analyzes present-day socio-economic programs and policies in light of factors such as
land use, education, housing, resources, pollution, transportation, population, poverty, and discrimination.
The causes, effects, and solutions of present-day problems for metropolitan areas are emphasized.
Prerequisites: EC 230 and EC 231.
EC 432 Economics of Labor
credit 3 hrs.
The course analyzes the forces which act upon the level of wages and employment and the role of
unions, business, and government in shaping these forces. The course investigates the attitudes and
actions of unions, businesses, and government with emphasis on discrimination in the employment of