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Economics is the study of scarcity and of how societies organize the production and distribution of goods and services. A knowledge of economics can make a significant contribution to citizenship, cultural and intellectual development, and career preparation in diverse areas such as business, law, government, or teaching. Economics is an analytical discipline that reinforces skills such as determining decision trade-offs, making logical deductions and statistical inferences, and collecting and analyzing data. Active participation in organizations and elective coursework in areas such as technical writing and speech communication will round out the Economics major effectively.
Economics majors who want to enter an applied
field of business or government or go to Law School should meet with a
department advisor to plan a Minor/Special Minor and determine the electives
that best complement their career goals. Students intending to do graduate
work in Economics should complete the calculus sequence and a Minor in
Mathematics. Students planning to teach social studies at the secondary
level can major in Economics and, at the same time, satisfy requirements
for the Social Studies Teacher Preparation Program.
REQUIREMENTS FOR THE BA IN ECONOMICS
Requirements for the BA in Economics, Pre-Law Concentration
Social Studies Teacher Preparation Program within the BA in Economics
The following course pattern satisfies all requirements for the Social Studies Preparation Program within the BA in Economics.
Requirements for the Social Studies Preparation Program
REQUIREMENTS FOR THE BS IN ECONOMICS
REQUIREMENTS FOR THE MINOR IN ECONOMICS
ECON 201 and 202 and two upper division
REQUIREMENTS FOR THE MINOR IN INTERNATIONAL ECONOMICS
ECON 201, 202, 410, and 440; and one course chosen from: ECON 311, 312 or 395
Note: Economics majors should try to complete as many requirements as possible before enrolling in the economics electives.
ECON 100 The Economic Way of Thinking (5)
Introduction to economic analysis, economic philosophy, and the application of economic analysis to policy problems. In-depth investigation into selected problems as determined by current events.
ECON 105 Personal Economics (3)
Personal economic and financial planning problems that individuals and families encounter during the course of their lives. Topics include saving and investment decisions, insurance needs, income taxation, job opportunity analysis, current economic conditions, portfolio and credit management, and retirement planning. This activity-oriented course will incorporate simulations of the Stock Market Game, a bi-annual enrichment activity sponsored by the universityís Center for Economic Education and Research.
ECON 201 Essentials of Microeconomics (5)
Value and distribution theory, including the theory of household behavior, the theory of the firm, and the pricing of factors of production. Emphasis on tools of economic thinking and the historical development of these tools. Selected operational content also provided. Lecture/discussion. Recommended: passage of ELM Test. (CAN ECON 4)
ECON 202 Essentials of Macroeconomics (5)
Theories of income, employment, and price level. Both the income-expenditure approach and the monetarist approach are studied. Emphasis on tools of economic thinking and the historical development of these tools. Selected operational content also provided. Lecture/discussion. Recommended: passage of ELM Test. (CAN ECON 2)
ECON 277 Contemporary Economic Issues (5)
An overview of the essentials of business economics. Topics include the economic way of thinking, market mechanism, money and banking, stabilization policy, market structure, economic role of government, human resource and operations management, human capital investment, international trade, marketing and business development, and social responsibility of business enterprises.
ECON 289 Experiential Prior Learning (variable units)
Evaluation and assessment of learning,
which has occurred as a result of prior off-campus experience relevant
to the curriculum of the department. Requires complementary academic study
and/or documentation. Available by petition only, on a credit, no-credit
basis. Not open to post-graduate students. Interested students should contact
the department office.
ECON 301 Intermediate Microeconomics (5)
Theory construction and application in the areas of consumer choice and demand, production and cost, competitive markets, general equilibrium, and welfare economics. Prerequisite: ECON 201 or permission of instructor.
ECON 302 Intermediate Macroeconomics (5)
Keynesian and classical theories of the determination of the level of economic activity. Emphasis is placed on the role of money and the price level. Analysis of monetary and fiscal policy with concentration on the tools of economic analysis. Lecture/discussion. Prerequisite: ECON 202 or permission of instructor.
ECON 305 Science and Development of Economic Philosophy (5)
This course critically explores the rise of the modern economic and political world and the modern science of economics. Particular emphasis is placed on cultural and intellectual history in the West with special focus on the role of philosophy and religion in the historical origins of modern science. The influence of Newtonian science on the development of early modern political economy (laissez faire theory) is examined along with the impact of these theories on the rise of capitalism and communism in the nineteenth century and contemporary liberalism, with its counterpart in welfare capitalism, in the twentieth century. Prerequisites: At least junior standing and one economics course or permission of instructor.
ECON 309 Economy and Society (5)
Application of economic theory to area studies, topics from California, United States, and world history, and enduring social problems. Recommended: American Institutions and Western Civilization requirements.
ECON 310 Economics of Health and Health Care (5)
Demand and supply of health care services and methods of financing health care expenditures. Topics include health care production, asymmetric information, demographic trends, medical insurance industry, government insurance programs, medical risk and liability, health care reform, and comparative health care systems. Prerequisites: One economics course or permission of instructor.
ECON 311 The Pacific Rim Economies (5)
Economic developments in China, Japan, and the newly industrialized economies of East Asia. Trade in the Pacific Rim. Places economic development in its cultural/geographic context and critically examines economic institutions and policies. Recommended: One economics course or permission of instructor.
ECON 312 Economies of the Middle East and North Africa (5)
A multidisciplinary study of economic development in the Middle East and North Africa. Special emphasis will be placed on exploring policy measures that can lead the region toward long term interdependence, stability, and growth. Recommended: One economics course or permission of instructor.
ECON 370 Economics of Environmental and Safety Regulation (5)
Topics to include: static and dynamic efficiency and market failure; economic analysis of air, water, solid waste, and toxic policies; energy and the environment; benefit-cost policy analysis and case studies; tort and insurance issues; incentive-based regulations; monitoring and enforcement issues; risk assessment, management, and communication; global issues and agreements. Prerequisite: One economics course or permission of instructor.
ECON 371 Economics of Agriculture and Natural Resources (5)
Economic policy analysis of natural resource and sustainability issues with special emphasis on California agriculture. Topics include efficiency, sustainability, and market failure; groundwater and surface water management and transfers; soil fertility and cropland resources; bio-diversity and habitat protection; fertilizer and pesticide use; forest and range-land resources; fisheries; wildlife resources and outdoor recreation; recycling; benefit-cost policy analysis and case studies; international issues. Prerequisite: ECON 201 or permission of instructor.
ECON 377 Economic Issues (1-5)
An in-depth study of the economic aspects of an important social problem. May be repeated for different course context. Prerequisite as announced.
ECON 380 Gender and Diversity in the Workplace (5)
Development of topics in labor economics from the perspectives of gender studies. Considerations of both national trends and international comparisons. Topics include household production and time allocation, labor force participation, human capital accumulation, regional mobility, and occupational choices, wage differentials, discrimination, and poverty. Prerequisite: Any introductory course in social and behavioral sciences or permission of instructor.
ECON 390 Regional Economic Analysis (5)
A study of economic regions, using Kern County as a case study. Topics include: regional databases and statistical compendia, economic base and industry composition analysis, regional modeling and impact analysis, location decisions and transfer costs, dispersion and clustering forces, trade patterns and urban hierarchies, migration, and development planning. Prerequisite: One economics course or consent of instructor.
ECON 395 Economic Geography (5)
An examination of the spatial organization of economic activity. Pertinent to regional and international perspectives. Topics include population dynamics and migration, natural resources and location, transportation and communication networks, agriculture and rural land use, urban land use, city location and urban hierarchies, industrial location, world economic and cultural regions, international investment patterns, cultural conflict and diffusion. (This course is also listed under "Interdisciplinary Courses.")
ECON 404 Law and Economics (5)
Theory construction and analysis of the economic effects of property, contract, and tort law. Integration of legal research using Lexis/Nexis. Application to significant policy issues. Prerequisite: One economics course or permission of instructor.
ECON 410 International Economic Development (5)
Analysis of the major developmental problems and policy questions encountered by Third World countries. Topics to be considered include the structural changes accompanying development, theories of development, impediments to development, role of the international sector, and government policy. Prerequisite: One economics course or permission of instructor.
ECON 420 Econometrics and Forecasting (5)
Theory and testing of models which explain economic reality and provide the basis for a forecasting process. Selected investigations using computer software packages. Prerequisite: MATH 120 and 140 or their equivalent.
ECON 430 Money, Banking, and the Economy (5)
A thorough study of the banking system, the demand and supply of money, monetary policy, the quantity theory of money, the interest rate, the theory of portfolio choice, and international finance. Prerequisite: ECON 202 or permission of instructor.
ECON 435 Public Finance (5)
A thorough study of public sector economics. Project and policy appraisal. Market failure and applied welfare economics. Theory and applications relating to benefit-cost and cost-effectiveness analysis. Prerequisite: ECON 201 or permission of instructor.
ECON 440 International Economics (5)
Theory, and policy analysis pertaining to world payments systems, open economy macroeconomics, international trade, multinational enterprises and direct foreign investment, and the international migration of labor. Prerequisite: One economics course or permission of instructor.
ECON 451 Managerial Economics (5)
Application of empirical methods to managerial decisions. Topics include estimation of demand, sales forecasts, business conditions analysis, estimation of production and cost functions, pricing and advertising, and capital budgeting. Case studies and software applications. Prerequisite: ECON 201, MATH 120 and 140, or permission of instructor.
ECON 453 Engineering Economics (5)
The concepts and techniques for the analysis and evaluation of the worth of products, services, systems, and structures in relation to their cost, in real and normal terms. Economics and accounting cost concepts, calculating economic equivalencies, comparison of alternatives over time and over value, replacement economy, economic optimization in design and operations, and after-tax analysis. Present values, future values, and discounting are also covered. Prerequisites: Math 120 and 140 or equivalents, and one course in economics or permission of the instructor.
ECON 465 Industrial Organization and Strategic Behavior (5)
Theoretical and empirical aspects of oligopoly theory. Price and non-price competition. The structure, conduct, and performance of selected American industries. Considerations of both anti-trust policy and managerial perspectives. Prerequisite: ECON 201 or permission of instructor.
ECON 477 Selected Topics in Economics (1-5)
An in-depth study of an area of economics not included in current course offerings. May be repeated for different course content. Prerequisites as announced.
ECON 489 Experiential Prior Learning (variable units)
Evaluation and assessment of learning, which has occurred as a result of prior off-campus experience relevant to the curriculum of the department. Requires complementary academic study and/or documentation. Available by petition only, on a credit, no-credit basis. Not open to post-graduate students. Interested students should contact the department office.
ECON 490 Senior Seminar (6)
Consideration of the nature of the discipline. Student proposes and carries out an independent research project under the supervision of a faculty member. Student should plan to take two quarters to complete the course (one quarter to complete a literature survey and data search; another quarter to carry out the study). Prerequisite: upper class standing and completion of pertinent coursework.
ECON 495 Urban and Regional Economics Workshop (2)
Development of World Wide Web pages for the Economics Departmentís Kern Regional Economic Studies website. The student will work independently under the direction of a faculty sponsor in completing a web-based project. Prerequisites: HTML programming skills, ECON 390 and/or permission of the instructor.
ECON 496 Internship in Economics (1-5)
Internships may be arranged by the department with various agencies, business, or industries. The assignments and coordination of work projects with conferences and readings, as well as course credits, evaluation, and grading, and the responsibility of the faculty liaison (or course instructor) working with the field supervisor. Offered on a credit, no-credit basis only. Department will determine credits and application of credit.
ECON 497 Cooperative Education (5)
The Cooperative Education program offers a sponsored learning experience in a work setting, integrated with a field analysis seminar. The field experience is contracted by the Cooperative Education office on an individual basis, subject to approval by the department. The field experience, including the seminar and reading assignments, is supervised by the cooperative education coordinator and the faculty liaison (or course instructor), working with the field supervisor. Students are expected to enroll in the course for at least two quarters. The determination of course credits, evaluation and grading are the responsibility of the departmental faculty. Offered on a credit, no-credit basis only. Department will determine application of credit.
ECON 499 Individual Study (1-5)
Consent of department.
ECON 500 Economic Theory (5)
Economic theory for MBA candidates. Application of theory to business analysis. Topics include supply and demand analysis, cost theory, market structure, national income and interest rate determination and economic conditions analysis. (Not open to students who have completed ECON 201 and 202.)
ECON 510 Health Economics (5)
Economics and financing of health care. Topics include an economic perspective on health industry trends, health production functions, demographic trends and the demand for health care, markets for health professionals, hospital economics, risk and medical insurance, tort law and medical malpractice, regulation of health care, international comparisons of health care systems, and reform proposals.
INST 661 Managerial Economics (5)
A study of the tools of economic analysis oriented toward analysis of managerial behavior and the managerial decision making process as related to demand analysis, cost and pricing problems, market organization, forecasting, capital budgeting, and location analysis. Carries credit in either Business Administration or Economics.
ECON 699 Individual Graduate Study (1-5)
Investigation of an approved project leading to a written report. Project selected in conference with professor in area of major interest; regular meetings to be arranged with professor.