Note: Economics majors should try to complete as many requirements as possible before enrolling in the economics electives.

Requirements for the Minor in Economics

Required courses:

1. ECON 201 Essentials of Microeconomics

2. ECON 202 Essentials of Macroeconomics

3. Two upper division economics courses.

For students with special interests within the field of economics, we recommend the following upper division course pattern:

Labor Economics

    ECON 380 or 381, and 480

Economic History

    ECON 305 and 306

Business Economics

    ECON 404 and 451 or 465

Urban and Regional Economics

    ECON 395 and 495

Financial Economics

    ECON 430 and 435

International Economics

    ECON 311 or 312, and 410 or 440

Resource and Environmental Economics

    ECON 370 and 371

Economic Statistics

    ECON 420 and MATH 339 or BEHS 500

COURSE DESCRIPTIONS

Lower Division

ECON 100 Economic Way of Thinking (5)

Introduction to economic analysis and the application of economic analysis to policy problems. In-depth investigation into selected problems as determined by current events. This activity-oriented course will incorporate simulations of the Stock Market Simulation, a biannual enrichment activity sponsored by the university’s Center for Economic Education and Research.

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 Simulation, a biannual enrichment activity sponsored by the university’s 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. Prerequisite: passage of ELM Test.

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. Prerequisite: passage of ELM Test.

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 postgraduate students. Interested students should contact the department office.

Upper Division

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 Political Economy of Pre-Modern West: Plato to Adam Smith (5)

This course examines the pre-modern economies of the West from the ancient Greeks up to the dawn of the industrial revolution in the eighteenth century. It highlights the ways in which these economies were or were not modern and explains the differences in the context of the cultures within which they were embedded. The course also examines the ideas that people used before Smith to understand their economic world. Finally, it explores how these ideas dramatically changed during the course of the scientific revolution and how that transformation in thought helped to give rise to the political economy of Adam Smith. Prerequisites: at least junior standing and one economics course or permission of instructor.

ECON 306 History of Economic Ideas: Adam Smith to Present (5)

This course introduces students to the major theories that have formed the growth of modern economics as well as theorists who contributed to their development. After a brief look at the intellectual background to the eighteenth century, including mercantilism and the Physiocratic School, the rise and expansion of classical political economy from Smith to Ricardo and J.S. Mill are studied. Nineteenth century critics of orthodox political economy are examined. The significance of the nineteenth century marginalist revolution and the twentieth century developments in neoclassical theory are studied together with the Keynesian revolution and postwar developments in policy and theory. In addition, the course will focus on some of the methodological theories that have guided economists in their efforts to create a science of economics.

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. This activity-oriented course will incorporate simulations of the Stock Market Simulation, a biannual enrichment activity sponsored by the university’s Center for Economic Education and Research. This course is not recommended for students majoring in Economics.

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. Prerequisite: 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 multi-disciplinary 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 rangeland 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 Current Economic Issues (3-5)

A study of the current economic and social issues such as education, health, taxation, social security, welfare reform, public debt, international trade, military spending, and financial market performance. May be repeated for different course content. Prerequisite: ECON 202 or permission of instructor.

ECON 380 Gender and Diversity in 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 381 Poverty and Discrimination (5)

Investigation of reasons for poverty and discrimination such as governmental regulation, income inequality, low wage employment, lack of educational opportunities, and job immobility. This course will use the tools of economic analysis to study the causes and effects of poverty and discrimination and public policy options and private sector initiatives to reduce them. Prerequisite: any introductory course in social and behavioral sciences or permission of instructor.

ECON 390 Regional Economic Study (1-3)

A study performance of the local and regional economies, leading to a publication in the Kern Economic Journal. The student will work independently under the direction of a faculty sponsor in completing a project.

ECON 395 Economic Geography (5)

An examination of the spatial organization of economic activities. 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 regions, and international trade and investment patterns. Course also includes an introduction to Geographic Information Systems (GIS). (This course is also listed as GEOG 395 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 major economic impediments to Third World development. Topics 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 Introduction to Econometrics (5)

A study of the essentials of econometric theory with computer-based applications. This course will enable students to construct empirical models, collect data, apply appropriate estimation techniques, and interpret the estimation results for decision making. Prerequisite: MATH 120 and 140 or their equivalent.

ECON 430 Money and Banking (5)

A 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 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 and Decision 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 equivalents, 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 antitrust 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 480 Labor Economics (5)

A study of labor force participation, labor demand, education and training, wage differentials, regional and occupational mobility, labor unions, and discrimination, poverty, and income distribution. Prerequisite: ECON 201 or permission of instructor.

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 postgraduate students. Interested students should contact the department office.

ECON 490 Senior Seminar (6)

Student proposes and conducts an independent research project under the supervision of a faculty member. Student also compiles a portfolio of course materials for the assessment of the learning outcomes. Student should plan to take two quarters to complete the course. Prerequisite: upper class standing and completion of pertinent course work.

ECON 495 Urban and Regional Economics (5)

A study of economic theories of urban and regional development. Topics include: economic base and industry composition analysis; location of economic activity; principles of urban economic development, housing, transportation, poverty and unemployment and municipal finance; forecasting of economic activity using census and socioeconomic data; analysis of economic forces which influence spatial patterns and the relationship between spatial patterns, public services, land use planning and land use control processes. Prerequisite: ECON 201, or ECON 395, or consent of 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 for the offering of independent studies.

Graduate Courses

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.

ECON 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 (This course is also listed as INST 661 under "Interdisciplinary Courses.")