Economics

Department Chair: D. Oswald
Department Office: Business Development Center, 142
Telephone: (661) 654-2181
email: doswald@csub.edu
Website: www.bpa.csub.edu/
Faculty:
D. Berri, M. Evans, A. Grammy, S.A. Hegde, M. Lai, M. Malixi

Program Description

Economics is the science of scarcity and of how societies organize the production and distribution of goods and services. Knowledge of economics can make a significant contribution to citizenship, cultural and intellectual development, and career preparation in diverse areas such as diplomacy, banking and finance, business, law, government, or teaching. Economics is an analytical discipline that reinforces skills such as decision-making under uncertainty, making logical deductions and statistical inferences, and collecting and analyzing data. Economic analysis is the process of applying economic tools and the economic way of thinking to real-world problems. The program’s curriculum provides a thorough understanding of economic theory and applies the theory to evaluating public policies, analyzing the external economic environments of organizations, and formulating tactical and strategic decisions.

Economics majors will typically find occupations in government, business, global management and finance, agriculture, diplomacy, public policy, or the law. Students who are inclined to pursue graduate studies in economics should chose the BA degree program and are encouraged to minor in mathematics or at least complete the calculus sequence. The BA degree program is also appropriate for those interested in teaching the social sciences at the secondary school level, for those planning on entering law school or with interest in agriculture, diplomacy or public policy analysis. In the BA degree program, students are required to complete a minor or special minor approved by their faculty advisor. The BS degree program is especially well suited for students with career interests in the business world. Majors in this degree program develop depth in the complementary area of either business or finance. Graduates of the BS degree program are equipped with the knowledge and skills to productively contribute to employers in the private, public, and non-profit sectors. Required lower and upper division courses for majors must be completed with a grade of C- or better.

Economics courses can be used for the General Business concentration. Additionally, several Economics courses meet university-wide graduation requirements (CSU Area D, Theme 3, Gender/Race/Ethnicity).

Requirements for Bachelor of Arts in Economics

The Bachelor of Arts in Economics is a versatile degree program. It can be customized to suit student interests (see fields of interest below) and career goals. An Economics Department advisor can help the student select a minor or design a special minor that strongly complements the economics major.

Students wanting to pursue a focused study in global economics, environmental, agricultural and natural resource economics, or public policy economics are encouraged to speak with their advisor about one of the following three tracts:

Global Economics Track

The Bachelor of Arts in Economics, Pre-Law Concentration

In our nation’s most prestigious law schools today, the study of law is being combined with the economic analysis of the law. Economics has become a very popular undergraduate major for those students interested in going on to law school. The BA in Economics, Pre-Law concentration combines the strengths of Economics with those of other related disciplines, to provide students with exceptional career preparation.

Requirements for the Bachelor of Arts in Economics, Pre-Law Concentration:

The Social Science Teacher Preparation Program within the BA in Economics

The California Commission on Teacher Credentialing (CCTC) has authorized CSUB to offer an approved single subject teacher preparation program in Social Science. The generic Social Science Teacher Preparation Program is listed under Teacher Preparation/Subject Matter Programs. The following course pattern satisfies all requirements for the Social Science Teacher Preparation Program within the BA in Economics.

Requirements for the Social Science Preparation Program

Basic Core Requirements (13 courses, 65 quarter units)

Breadth and Perspectives (5 courses, 22 quarter units)

Additional Requirements for the BA in Economics (7 courses, 35 quarter units)

Note: The Minor or Special Minor requirements can consist of (4) non-economics courses satisfying the Social Science Preparation Program requirements.

3+2 Program: BA Economics-Masters in Social Work

This special combined degree program leads to the completion of the BA in Economics and the Masters in Social Work in five years. Students must complete six MSW courses to complete the program.

Note: Economics majors should try to complete as many required courses as possible before enrolling in economics electives. Students interested in this option should speak to a Department advisor before selecting their ECON electives.

THE BACHELOR OF SCIENCE IN ECONOMICS

Requirements of the Bachelor of Science in Economics

Business Economics

ACCT 220 plus four (4) approved courses in Business and Public Administration. The course pattern can build “depth” in one area or “breadth” in several areas of Business and Public Administration. The following courses can be used to meet foundation requirements for CSUB’s MBA program: ACCT 220, BA 370, MGMT 300, MGMT 301, MKTG 300 and FIN 300.

Financial Economics

ACCT 220, FIN 300, and three (3) approved electives selected from Finance, MKTG 304, and ACCT 221 and 303. For career preparation as a financial analyst, ACCT 221 ACCT 303 are recommended for the emphasis area. For career preparation in financial and investment services, MKTG 304 and additional Finance courses are recommended. Economics electives must include ECON 441, 453 and 460.

THE MINOR IN ECONOMICS

The minor in economics is an excellent complement to any degree program. Students who choose to minor in economics gain fundamental knowledge of both macro- and microeconomic principles and can elect to deepen their knowledge in one or more applied areas of economics by selecting the appropriate upper division electives.

Required courses:

COURSE DESCRIPTIONS

Lower Division

ECON 100 Economic Way of Thinking (5)

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

ECON 105 Personal Economics (5)

This course covers 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.

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 is placed on the 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 is placed 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 equivalent.

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 equivalent.

ECON 303 Game Theory (5)

Game theory is the study of how economic agents make decision in multi-agent decision problems, taking into account the decisions and responses of others. It is essentially a technique for analyzing how people behave strategically in their interaction with others. Topics covered include: games of complete and perfect information, games of incomplete and imperfect information, normal and extensive forms, equilibrium concepts, static and dynamic games, repeated games, as well as applications to market behavior, environmental management, bargaining, auctions, negotiation, institution design, international trade, politics and conflict. Prerequisites: ECON 201 or permission of instructor.

ECON 304 Development of the 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 Economic Development of the West: Plato to Adam Smith (5)

This course examines the pre-modern economy of the West from the ancient Greeks up to the dawn of the industrial revolution in the eighteenth century. It attempts to highlight in what ways the economy of the ancient world was not modern and to explain any differences in the context of the cultures within which they were embedded. The overriding concern of the course is to attempt to explain the economic development of the West. 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 economic 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 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 315 Economics of Sports (5)

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 320 Introduction to Geographic Information Systems in the Social Sciences (5)

An introduction to the basic principles of Geographic Information Systems (GIS) with applications to a variety of problems using established data sources. The course includes fundamental principles of cartographic design and communication. Students are expected to become proficient users of ArcView GIS Software package. Lab sessions cover step-by-step GIS practice in the real world, including working with public domain data, importing data into GIS, creating a GIS database, performing spatial analysis with tools, building GIS models, and presenting results.

ECON 340 Global Economics (5)

This course is a comprehensive study of the global economy and the multi-faceted process of globalization. It involves discussions of the historical roots of globalization, the various theories of globalization, global economic policies and issues, comparative advantage and its sources, trade policies and their effects, regionalism and multilateralism, exchange rate systems, global money and banking, arbitrage power, cost and benefits of globalization, the role of the public sector in the global economy, the role of technology in globalization, and an analysis of financial crises.

ECON 341 Globalization and Development (5)

This course uses a case study approach to the study of globalization and growth. It uses an applied empirical approach to learning about macroeconomic management, economic development, international trade, and the cross border flows of goods and services and capital. Economic activities such as trade, investments in equities and debt, tourism, development of intellectual property, and financial transactions, have become internationalized. This is the current context in which businesses must operate. Students learn how to conduct an assessment of international environments and political-economic strategies deployed in major world regions. They perform a “country analysis”, which allows them to draw conclusions about market growth, labor costs, inflation and exchange rate stability, direct investment opportunities, etc. Prerequisite: ECON 202 (or equivalent) or permission of instructor.

ECON 343 Economics of Immigration Policy (5)

The economic effects if various immigration policies, their impact on labor markets, as well as their relationship to national security are explored. The focus is on understanding and analyzing immigration policy, as well as their consequences on society and the economy. This course will also consider immigration policy development. Prerequisite: ECON 201 or 202 (or equivalent) or permission of instructor.

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 372 Agricultural Trade Policy (5)

An introduction to practical considerations of agricultural trade and trade policy analysis. Emphasis is placed on concepts of agricultural trade, analysis of trade policies of major trading partners and the export/import marketing of agricultural products. Also the interdependencies between the world’s food, populations and equitability/poverty problems and possible solutions are explored. Prerequisite: ECON 201 (or equivalent) or permission of instructor.

ECON 373 Agricultural Finance (5)

The objective of this course is to provide students with the tools necessary to evaluate and manage risk in the agricultural industry. This course provides an introduction to the economic theory, organization, and operating principles of agricultural commodity futures markets in the U.S. Emphasis is placed on speculating, hedging, and investing in agricultural commodity futures contracts from the standpoint of the agribusiness entrepreneur. Capital theory is also visited. Prerequisites: ECON 201 (or equivalent), Math 120/140 or permission of instructor.

ECON 377 Current Economic Issues (3-5)

A study of a 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 201 or 202 (or equivalent) 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 395 Economic Geography (5)

This course involves 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.”). This course cannot be used as an elective towards the major in economics.

ECON 404 Law and Economics (5)

Law and economics involves a historical survey of the application of economic principles to the law and the contemporary use of economic principles to analyze the structure and effects of property, contract and tort law. Students engage in legal research using Lexis/Nexis in order to analyze the economic content of specific cases. The implications of the economic analysis of law for important policy issues are explained. 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 and 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 101 or 120 and ECON 202. ECON 420 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 equivalent) or permission of instructor.

ECON 435 Public Finance (5)

This course deals with the economic role of governments in market economies. Topics covered include market efficiency, welfare, externalities, missing markets, pure and impure public goods, club goods, solutions to the externalities problem, preference revelation mechanisms, management of common property resources, cost-benefit analysis, principles of taxation, public sector economics, collective action, voting models, and government intervention in education and health sectors. Prerequisite: ECON 201 (or equivalent) or permission of instructor.

ECON 440 International Economics (5)

Theory and policy analysis pertaining to world payments systems, open economy macro-economics, international trade, multinational enterprises and direct foreign investment, and the international migration of labor. Prerequisite: one economics course or permission of instructor.

ECON 441 Financial Economics (5)

This course develops the main arguments in financial theory from an explicitly economic perspective. Financial economics involves the examination of the roles of time, uncertainty and information in economic transactions. This course analyzes financial institutions from a perspective of information theory. We consider the theories of decision-making under uncertainty and asymmetric information. Prerequisite: ECON 201 (or equivalent) or permission of instructor.

EEGS 445 International Political Economy (5)

The field of international political economy (IPE) is a young and rapidly developing social science course of study that attempts to understand international and global problems using an interdisciplinary perspective. This course surveys the main theories of IPE at a relatively advanced level and applies them to the understanding of historical and contemporary international economic and political problems. The topics which typically make up the core focus of IPE include the analysis of the political economy of globalization, international finance, North-South relations, and multinational corporations. This course will lay sufficient foundations for students to pursue more narrowly focused course of study. Prerequisite: ECON 201 (or equivalent) or permission 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 101 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 140 or equivalents, and one course in economics or permission of the instructor.

ECON 460 Financial Institutions Management (5)

An introduction to the operation, structure, and regulatory environment of the U.S. financial system. Special attention given to the theories of interest rate determination, financial risk management, and asset/liability management in depository and non-depository institutions. The course also investigates e-Business and changes in commercial banking, non-bank financial institutions and financial markets. Computer models and cases are used to show real-world applications. Carries credit in Economics or Finance. Prerequisite: FIN 300 or ECON 302.

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 Human Resource 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 (5)

Student proposes and conducts an independent research project under the supervision of a faculty member. Student completes activities for use by faculty in assessing learning outcomes for the major. Prerequisite: ECON 301, 302, 420 and senior standing.

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 equivalent) or ECON 395, or permission 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 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 602 Macroeconomic Applications and Policy (5)

Topics include theoretical and empirical work on consumption, investment, monetary theory and policy, and open-economy macroeconomics. Also covers methods of data collection, analysis and presentation. The course objectives include examination of macroeconomic policy issues with data for the United States economy.

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.”).

ECON 680 Human Resources Economics (5)

Covers topics in labor economics including dynamic theories of labor supply, employment, and unemployment; labor supply in a household framework; and labor market activity and income distribution. Explores both theoretical models and empirical tests in each area.

ECON 677 Selected Topics (5)

Special-topic courses provide each department with the opportunity to present an in-depth study of a selected subject not covered in regular courses. When offered prerequisites and course requirements will be announced for each course.

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.