Department Chair:  Jennifer VanGilder 

Department Office:  Business Development

Center, 228-232

Telephone:  (661) 654-2026

email:  jvangilder@csub.edu

Website:  www.bpa.csub.edu/

Faculty:  David Berri, Mark Evans, Abbas Grammy

Program Description: 

The undergraduate program in Applied Economics offers a balanced mix of theoretical and applied knowledge in economics as a field of behavioral science.  Graduates of the program will be equipped with the knowledge of economics and tools of economic analysis in making a full contribution to professional development in the private, non-profit, and public service sectors. In addition, the program helps students develop analytical thinking and interpersonal communication skills as well as ethical awareness that are necessary for successful careers as entrepreneurs, executives, and policymakers.

Degree Programs

•     Bachelor of Science in Economics

      Area of emphasis:

            Business Economics

            Financial Economics

            International Economics

            Economic Applications

•     Bachelor of Science in Business

      Administration

      Area of emphasis:

            Applied Economics

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Requirements for Bachelor of Science in

Economics

Lower-Division Requirements (20 units)

1.   MATH 120 Introduction to Quantitative Methods in Business

2.   MATH 140 Elementary Statistics

3.   ECON 201 Essentials of Microeconomics

4.   ECON 202 Essentials of Macroeconomics

Upper-Division Requirements (50 units)

1.   ECON 301 Intermediate Microeconomics

2.   ECON 302 Intermediate Macroeconomics

3.   ECON 306 History of Economic Ideas

4.   ECON 420 Introduction to Econometrics

5.   ECON 490 Senior Seminar in Economics

6.   Applied Economics (choose any three courses)

      a.   ECON 411 Economic Growth and Technological Change

      b.   ECON 430 Money and Banking

      c.   ECON 435 Public Finance

      d.   ECON 451 Managerial Economics

      e.   ECON 453 Cost-Benefit Analysis

      f.    ECON 465 Industrial Organization

      g.   ECON 480 Labor Economics

7.   General Economics:  Two (2) upper-division Economics courses

Area of Emphasis (30 units)

Business Economics

ACCT 220 and ACCT 221 plus four (4) approved upper division courses in Business and Public Administration. The course pattern could build the “depth” of knowledge in one or two areas or enhance the “breadth” of knowledge in various areas of Business and Public Administration.

Financial Economics

ACCT 220 and ACCT 221 plus four (4) approved upper division courses in Business Administration for students preparing for careers with financial institutions.  The following course pattern is recommended: ACCT 303; FIN 300 and 400; and ECON 430 or FIN 460

International Economics

Six (6) approved upper-division courses with international focus in Applied Economics and Business Administration. Courses may be selected from the following list: ECON 410, 411 and 440;  FIN 490, MGMT 405, MKTG 300 and 420; PLSI 304; SOC 450

Economic Applications

Six (6) approved upper-division courses focusing on the development of analytical research skills and data presentation methods.  These courses could be taken from one or more programs that share common exploratory research and data analysis methods such as Marketing, Public Policy and Administration, Political Science, Sociology, and Mathematics.

Requirements for Bachelor of Science in Business Administration

Required Lower-Division Foundation Core and

Upper-Division Core for BSBA

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Upper-Division Requirements in Applied

Economics (30 units)

ECON 301 Intermediate Microeconomics

ECON 302 Intermediate Macroeconomics

Any four (4) courses from the following list:

ECON 310 Economics of Health & Health Care

ECON 315 Economics of Sports

ECON 411 Economic Growth & Technological Change

ECON 430 Money and Banking

ECON 435 Public Finance

ECON 453 Cost-Benefit Analysis

ECON 451 Managerial Economics

ECON 465 Industrial Organization

ECON 480 Labor Economics

ECON 495 Urban and Regional Economics

ACCT 345 Fundamentals of Financial Decision-Making

FIN 326 Investment Management

FIN 460 Financial Institutions Management

MGMT 310 Human Resource Management

MGMT 340 Entrepreneurship

MKTG 302 Advertising and Public Relations Strategy

Requirements for Minor in Economics

1.   ECON 201 Essentials of Microeconomics

2.   ECON 202 Essentials of Macroeconomics

3.   Any two upper-division Applied Economics courses:  ECON 411, 430, 435, 451,453,465, 480

Courses in the University-wide Programs

1.   General Education

      a.   Area D:  ECON 100, 105, 201, 202

      b.   Theme 3:  ECON 304, 305, 310, 311, 312, 315, 370, 410

2.   Women or American Ethnic/Racial Minorities

      a.   ECON 380, 381

Economics Area of Focus in Master of Business

Administration

1.   ECON 500 Economic Theory

2.   ECON 602 Macroeconomic Theory and Application

3.   ECON 610 Economics of Health and Public Policy

4.   ECON 651 Managerial Economics

5.   ECON 680 Labor Economics

6.   ECON 699 Individual Graduate Study (1-5)

COURSE DESCRIPTIONS

Lower Division

ECON 100 Economic Way of Thinking (5)

Introduction to economic analysis. Topics covered include microeconomic theory and application and macroeconomic theory and policy. Also, an in-depth study of into selected topics and current events. 

ECON 105 Personal Economics (5)

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. 

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.

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. 

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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 304 Development of American Economy (5)

A study of the economic forces that have shaped both the United States and California history.  The course begins with Colonial America and continues through the latter half of the 20th century.  Included in the exploration of United States history are the following specific topics:  Early Exploration, the Colonial Era, the War for Independence, the Development of the Constitution and the Early Republic, the Civil War, the Rise of Industrial America.  With respect to California, emphasis is placed on the role of California (e.g., the Gold Rush) in leading the national economy along the path of long run growth.  In this exploration we will be utilizing the tools of economic analysis.

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 307 Introduction to Political Economy (5)

A review of the interaction between public policy debates and economy theory.  Topics include the historical foundation and development of a variety of schools of thought, ranging from the Classical Liberalism of Adam Smith to the Radical voice of Karl Marx.  Emphasis will be placed on not only understanding the historical progression of ideas, but also the relevance varied perspectives have on present political and economic issues.

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 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 315 Economics of Sports

The Economics of Sports applies the tools of three core microeconomic fields-industrial organization, public finance, and labor economics-to the examination of both professional and college sports.  Topics to be studied include, but is not limited to, the prevalence of monopoly power in the sports industry, the financing of stadiums and teams, the growth of union power, salary determination and the incidence of racial discrimination.

ECON 370 Environmental Economics (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 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 Race, Gender and Prosperity in America (5)

Investigation of reasons for economic success and failures of minority members within our economy.  This course will start with the main economic tools necessary for policy analysis, move on to economic status, causes and cures, and finish with discrimination.  Social policies will be examined including but not restricted to equal employment opportunity and equality of income for Women, Hispanics, and African Americans.  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 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 411 Economic Growth & Technological Change (5)

Examination of the determinants of economic growth with national and international data. The learning objective is to gain insights on why some countries are richer than others and why some countries grow more rapidly than others.  Prerequisite: MATH 120 and ECON 202 or equivalent.

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 140 or 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 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 Cost Benefit Analysis (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 (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 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 490 Senior Seminar in Economics (5)

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 consent of instructor.

ECON 499 Individual Study (1-5)

Consent of department for the offering of independent studies.

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Graduate Courses

Graduate courses are listed in the “Graduate Programs” section of this catalog.