Course Descriptions Economics Furman University

100 Personal Finance

Prerequisite: junior or senior class standing
Consideration of personal income, expenditures, borrowing, savings and investments. May not fulfill a major requirement for majors offered within Economics. 4 credits.

105 Exploring Economics with Song Lyrics
Introductory exploration of economic concepts and ideas such as poverty, conspicuous consumption, money and wealth, taxes, through song lyrics. The course will require students to explore genres of music including folk, country, rock ‘n’ roll, hip-hop, that make reference to the economy or economic theories and ideas. Emphasis of the course is on in-class presentations, library research of economic concepts, and writing assignments that capture the nexus between chosen lyrics/songs and economic ideas and theories. May Experience ONLY. 2 credits.

111 Introduction to Economics
GER: HB (Empirical Study of Human Behavior)
Introduction to the essential concepts of economic analysis and implications for public policy. Emphasis on examining the operation of markets in both a macro and micro setting. Topics include: inflation, unemployment and monetary policy as well as consumer behavior, the operation of business firms, and supply and demand. Offerings at other institutions are not typically considered equivalent to this course unless they provide thorough coverage of topics introduced in both macro and microeconomics. 4 credits.

200 Federal Reserve and Monetary Policy
Prerequisite: ECN-111
An examination of the Federal Reserve system and its important role in the conduct of monetary policy. Emphasis is placed on the collection and interpretation of current economic indicators and how the Federal Reserve might respond to the existing economic situation. Course material will prepare students to participate in the Fed Challenge. May Experience ONLY. 2 credits.

224 Law and Economics
Prerequisite: ECN-111
Exploration of the field of law and economics using standard microeconomic tools to examine torts, contract law, property law, and the theory and empirical evidence on criminal behavior. 4 credits.

225 Statistics
GER: MR (Mathematics & Formal Reasoning)
Introduction to applied probability and statistics. Topics include: tabular and graphical presentation of data; descriptive measures of central tendency, dispersion, and location; probability and probability distributions (discrete and continuous); inferential statistics and hypothesis testing; bivariate analysis (qualitative and quantitative), including crosstabulation, covariance, correlation, and simple linear regression. Offerings at other institutions are not typically considered equivalent to this course. Students must pass an examination administered by the department to establish course equivalency. Students cannot receive credit for this course and MTH-241. 4 credits.

233 Economics of Gender
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111
Examination of the significance of gender differences in the U.S. economy. Topics include: differences in earnings and occupational choice, discrimination, consequences of women’s employment for the family, and the feminization of poverty. 4 credits.

234 Urban Economics
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111
Survey of economic analysis in its application to urban problems, development patterns, land markets, and labor markets. Causal factors creating urban dilemmas and the policy alternatives available for improving the quality of urban life are considered. Exploration of the effects of environmental, social and political forces on the urban economy and urban life. 4 credits.

235 Population, Economy, and Society
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111 or SOC-101 or 102
Same as SOC-221. Explores the trends and determinants of vital events such as fertility, mortality, marriage, divorce, and migration from sociological and economic perspectives. Presents a brief history of world population change and explores current trends and the theories that are used to understand them. A student cannot receive credit for both ECN-235 and SOC-222. 4 credits.

236 Economics of the Environment
GER: HB (Empirical Study of Human Behavior) and NE (Humans & the Natural Environment)
Prerequisite: ECN-111
Developing the economic tools that are needed to understand the economic basis of environmental problems and evaluate the policies that are intended to reduce environmental degradation. 4 credits.

237 Economics of Poverty and Inequality
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111
Examination of the issues of income inequality and economic poverty in modern America. Topics include: theories of poverty and income distribution; statistical measurement of poverty and inequality; poverty trends among important racial and demographic groups; public policy initiatives. 4 credits.

238 Public Finance
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111
Microeconomic analysis of government expenditure and tax policies, with attention to social security, national health insurance, welfare programs, individual income tax and other current topics. 4 credits.

241 Money and Banking
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111
Institutional and historical study of the nation’s monetary system, including definition of money, an overview of the financial markets, activities of the banking system, non- bank intermediaries, and central banking. Analysis of effects of money and finance on output, prices, and economic growth. 4 credits.

242 Health Economics
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111
Using tools of economics to examine the health services industry. Influences of government on supply and demand for services and development of private and public insurance products are examined, as are interactions among medical technology, demand, and insurance. Additional topics include: managed care, international comparisons, and current reform proposals 4 credits.

243 Economic Growth and Development
GER: WC (World Cultures)
Prerequisite: ECN-111
The theory of economic development, the historical development experiences of Western, Asian, and African nations, the problem of accelerating rates of development of less advanced nations, and the problem of maintaining economic growth rates of advanced nations. 4 credits.

247 History of Economic Thought
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111
Development of economic thought from pre-classical writers through Adam Smith, the classical economists, socialist, marginalist, neoclassical and institutional writers to the present. 4 credits.

248 Government and Business
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111
Evolution of governmental involvement in the U.S. economy. Special emphasis on the relationship between government and the business community; the structure, behavior and performance of the business community which have induced government response; the interpretation and application of antitrust law; and a brief survey of public utilities and transportation economics. 4 credits.

249 Asian Economics
GER: HB (Empirical Study of Human Behavior) and WC (World Cultures)
Prerequisite: ECN-111
Examination of the development records of Asian economies, notably Japan, South Korea, Taiwan, Hong Kong and Singapore. Some attention directed to the newly emerging economies of Malaysia, Thailand, Indonesia, China and India. A broad economic perspective and simple economic models are used to examine institutional changes, industrial policies and the role of government and the private sector in these economies. 4 credits.

250 Labor Economics
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111
The study of labor markets from both the firms’ and workers’ perspectives. Trends and relationships pertaining to the gender, race, age and educational composition of the workforce are discussed, as are worker mobility training and productivity. Major policies that affect labor markets (e.g., minimum wage, social security) are also examined. 4 credits.

251 Economics of China
GER: HB (Empirical Study of Human Behavior) and WC (World Cultures)
Prerequisite: ECN-111
Examining the causes and effects of economic development and structural reforms of the fastest-growing and largest developing country: China. Emphasis on a political economy approach due to the state dominance in the Chinese economy. 4 credits.

252 International Trade Theory and Policy
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111
Introduction to international trade theory and policy. A microeconomic perspective of trade models detailing causes and benefits of trade between nations. Consideration of relationship between trade and economic growth and development. Discussion and examination of the effects of exchange rates in trade, roles of trade institutions and the political economy of trade agreements. 4 credits.

253 International Macroeconomic Theory and Policy
GER: HB (Empirical Study of Human Behavior)
Prerequisite: ECN-111
An introduction to international macroeconomic theory and policy. Topics covered include exchange rates, balance of payments, and interest rates. Stabilization policy in the open economy, currency crises, and monetary integration will also be explored. 4 credits.

256 Economics of Strategy
Prerequisite: ECN-111
A study of economic forces that shape companies and the industries and markets in which corporations (or lines of businesses) operate. Topics include: understanding the origins of competitive advantage and how to sustain it; assessing entry and exit conditions of a market; conducting industry and competitive analyses; determining the boundaries of the corporation; and assessing how these boundaries are changed under conditions of advancing technology. 4 credits.

263 Issues in African Economic Development
GER: HB (Empirical Study of Human Behavior) and WC (World Cultures)
Prerequisite: ECN-111
Examination of issues in development economics as they relate to Sub-Saharan Africa. Topics will include macroeconomic issues (e.g. macroeconomic determinants of growth, saving and investment) and microeconomic issues (e.g. human capital, land tenure rights), domestic issues (eg. governance, inequality) and international issues (e.g. international trade, international finance, international organizations). 4 credits.

331 Empirical Methods in Economics
Prerequisite: ECN-111, MTH-141 or 150, and ECN-225 or MTH-241 or 340
Introduction to the methods of preparing and analyzing data for economic research. Students become familiar with the basic empirical methods used by economists, particularly regression analysis. Computer software packages used extensively. 4 credits.

345 Intermediate Macroeconomic Analysis
Prerequisite: ECN-111, MTH-141 or 150, and any other economics course numbered 201 or greater, excluding ECN- 225 and 503
Focuses on short and long run macroeconomic models. Analysis of monetary and fiscal policies and their effectiveness in targeting aggregate measures of unemployment and inflation under closed and open economy regimes. 4 credits.

346 Intermediate Microeconomic Analysis
Prerequisite: ECN-111, MTH-141 or 150, and any other economics course numbered 201 or greater, excluding ECN- 225 and 503
Operation of the price system and its role in understanding the behavior of individual economic units: consumers, producers, and suppliers of resources. Applications of price theory to contemporary microeconomic problems. 4 credits.

357 Quantitative Methods for Business and Economics
Prerequisite: ECN-111 and MTH-141 or 150
Mathematical operations and methodology within the context of market models, models of the firm, national income models, and models of economic growth; introduction to mathematical economics, static analysis, comparative statistics, optimization problems, dynamic analysis, and linear programming and game theory. 4 credits.

371 Economic and Political Analysis of the European Union
Prerequisite: ECN-111
Same as PSC-240. An examination of the formation, implementation and operation of the European Union, with special emphasis on political and economic issues. Taught as part of the Furman program in Europe. Students may not receive credit for both ECN-371 and PSC-240. 4 credits.

475 Senior Seminar in Economics
Prerequisite: ECN-331, 345 and 346
Capstone course for economics majors. Reading and analysis of selected topics. Research, data analysis and writing of selected topics. Students will present their research in class. 4 credits.

501 Independent Study
Variable credit.

503 Individualized Internship
Prerequisite: ECN-111, one additional course in economics numbered 201 or greater, excluding ECN-225, and instructor permission
In consultation with an economics faculty sponsor, students develop internships, identify objectives, read literature, complete a writing assignments related to their internship, and submit reflective summaries of their activities. This course MUST be enrolled pass-no pass and will not contribute to the economics or mathematics-economics major. Variable credit.

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