JU Economics Course Descriptions

ECONOMICS COURSES AT JACKSONVILLE UNIVERSITY
From the 2009-2010 Catalog.

ECON 201. Principles of Macroeconomics (3)
Three hours per week. This course satisfies the Core Curriculum requirement in economics. A “C” or better must be earned in ECON 201 as a prerequisite for ECON 305 and in order to use this course as part of the economics major or minor. In addition, a “C” (2.0) or better is required in order to use this course as part of the core requirement for any business major. This course provides students with an understanding of key macroeconomic issues facing our world and the policy prescriptions needed to address these issues. Students gain an understanding of basic economic concepts of resource allocation, supply and demand, national income, consumption, unemployment, inflation, government spending, and taxation. A firm foundation in essential economic theory and tools needed to understand these issues is established. Additionally, students are introduced to the broader functional areas of business as they relate to the overall understanding of daily economic activity.

ECON 202. Principles of Microeconomics (3)
Three hours per week. Prerequisite: ECON 201. A “C” or better must be earned in ECON 202 as a prerequisite for ECON 304 and in order to use this course as part of the economics major or minor. In addition, a “C” (2.0) or better is required in order to use this course as part of the core requirement for any business major. An introduction to microeconomics emphasizing current economic ideas, functions, and institutions. Also examined are topics concerning the problem of scarcity in a society of abundance, production, income distribution, price determination, competition, and monopoly.

ECON 301. Labor Economics (3; AR)
Three hours per week. Prerequisite: ECON 202. Analysis of the characteristics of the American labor force, factors influencing employment and unemployment, market forces determining wages and hours, nature of wage and hour legislation, and economic analysis of social security.

ECON 304. The Economics of Business Decisions (3; F)
Three hours per week. Prerequisites: ECON 201, and ECON 202 with a “C” or better. A “C” or better is required in order to use this course as part of the economics major, and it should be completed before senior status. This course is designed to give the advanced student a more detailed and analytical understanding of the role of prices in economic decision making.

ECON 305. Macroeconomic Analysis & Policy (3; S)
Three hours per week. Prerequisites: ECON 201 with a “C” or better, ECON 202. A “C” or better is required in order to use this course as part of the economics major, and it should be completed before senior status. National income accounts and the determination of the level of gross national product. Analysis is made of the forces that cause inflation and recessions in our economy and an interpretation of how monetary and fiscal policy alter the levels reached by the economy. Classical as well as Keynesian and post-Keynesian models are examined.

ECON 307. Comparative Economic Development (3; AR)
Three hours per week. Prerequisites: ECON 201 or consent of instructor. A study of the development and philosophy of various economies in the world, including the European Union, Russia, China, Japan, India, Latin America and Africa. Student research projects are an integral part of the course.

ECON 310. Money & Banking (3; F)
Three hours per week. Prerequisite: ECON 201. Role of money; commercial banks, other financial institutions, price level movements; money flow and the business cycle; Federal Reserve Bank organization and functions; the control of credit; and the interrelation of monetary and fiscal policy.

ECON 365. Survey of Modern Economic Thought (3; AR)
Three hours per week. Prerequisites: ECON 201 and ECON 202; junior or senior status. A study of the development of western economic thought beginning with the classical doctrines at the time of Adam Smith. Primary emphasis is on the high points in the main trains of thought and in the more significant departures from them.

ECON 381. Economic Policy Analysis (3; AR)
Three hours per week. Prerequisite: ECON 201 and ECON 202. This course is designed to study the functions of government in the three areas of allocation of resources, distribution of income, and stabilization of the economy. Special consideration is given to taxation, public expenditures, public borrowing, and fiscal administration. Additional topics treated include selection of a fiscal policy and analysis of revenue-expenditure relationships within the framework of that policy.

ECON 404. Current Economic Issues (3; AR)
Three hours per week. Prerequisites: ECON 201 and ECON 202. A study of contemporary economic issues. Emphasis is given to the applications of the tools of economic analysis to specific current economic conditions.

ECON/INB 410. The Economics of Globalization (3; F)
Three hours per week. Prerequisites: ECON 201 and ECON 202. A study of the issues created when economies become more global in scope. Topics include the effects of trade, trade restrictions, economic integration, international factor movements and government policies on domestic and foreign economics.

ECON 450. Applied Economic Analysis (3; S)
Three hours per week. Prerequisites: Senior status, ECON 304 or ECON 305, at least one major economics elective course or permission of the instructor. This is a course on the techniques of applied economic research. Included in the course are basic elements of applied econometrics, economic impact study analysis, forensic applications of economics, applied economic policy analysis and applied economic modeling for business decisions.

ECON 455. Senior Seminar in Economics (3; S)
Three hours per week. Prerequisite: Senior status. The purpose of this course is to use theoretical foundations and other material students have studied in the economics major for the analysis of current economic problems and policy issues. Practicing key economic skills in a collegial environment should reinforce students’ abilities and facilitate capable, independent life-long learning.

ECON 480. Special Topics in Economics (3; max. 6; AR)
Three hours per week. Prerequisites: ECON 201, ECON 202, Junior or senior status, and consent of instructor. A study of selected topics of major interest in economics not covered in other course offerings. Topic for the semester will be indicated in advance, and the student may repeat the course once if the topic is different for a maximum credit of six hours.

ECON 490. Internship in Economics (var. 1-3; F, S)
Five to fifteen hours per week. Prerequisites: Junior or senior status and an overall GPA of 2.5 or better and 3.0 or better in the major. For additional information, see the introduction to the College of Business section in this Catalog.

ECON 500. Essentials of Economics (2)
This course is intended to introduce MBA students to basic macro- and microeconomic principles and analytical tools that economists developed to study consumers, firms, markets and the economy as a whole. Its objective is to provide MBA students with a basic understanding of how individuals and firms make decisions, how markets function and how the overall economy operates.

ECON 520. Economics of High Performance (3)
Prerequisites: ECON 201, 202 and Calculus OR ECON 500. Designed to introduce MBA students to the application of macro- and microeconomic principles to managerial decision-making in the modern organization. Students discuss ways of directing scarce resources in an efficient manner to attain managerial goals and learn to strategically apply economic ideas, theories and methodologies to sustain high corporate performance. Special emphasis is placed on the concepts of corporate responsibility, demand analysis, production and cost determination, pricing and profit analysis, as well as application of computer-based forecasting and model building. Cases and problems are used to understand economic tools and their potential for solving real-world problems.

ECON 522. Managerial Economics (1.5)
Offered in the Executive MBA Program only.
This course is the first of the two Managerial Economics courses in the EMBA Program. This course explores the nature of economic decisions within the modern-day corporation. It presents the essentials of managerial economics. This course uniquely integrates the discipline to the other managerial functions to include accounting, finance, human resource management and marketing. It helps managers recognize how economic forces affect organizations and describes the economic consequences of managerial behavior. It links economic theories and concepts with quantitative methods to develop vital tools for managerial decision-making.

ECON 523. Managerial Economics and Applied Research (1.5)
Offered in the Executive MBA Program only.
This course is the second of the two Managerial Economics courses in the EMBA Program. Focuses on the application of economic theories to business decisions. Students learn to use microeconomic theories and quantitative methods to solve economic problems faced by management, such as pricing production, inventory, staffing size, investment and financing.