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Economics and Business

Courses

ECON101Principles of EconomicsAn introduction to the concerns and methods of economics, covering both microeconomic and macroeconomic principles. This course analyses how markets work and how economic decisions are made. It considers the interactions of firms and households in individual markets as well as the workings of national and international economies. The class will examine current economic issues and study how policy can be used to address economic problems.
ECON150Principles of AccountingStudy of financial accounting theory as a tool for effective business management and control. Emphasis will be placed on the accounting cycle and cash-flow analysis as well as analysis and comprehension of standard financial statements.Prerequisite: ECON-101
ECON155Mathematical Methods for EconomicsDesigned to give economics and business students the quantitative skills necessary for upper-level courses in the department. The principal topics covered are graphing of linear and nonlinear functions, basic rules of differentiation, optimization techniques, and mathematics of finance (compounding and discounting). Students may substitute MATH 112 for ECON 155.Prerequisite: ECON-101, and at least a high school algebra course.
ECON160Business StatisticsDesigned to give economics and business students the quantitative skills necessary to understand as well as undertake a serious research project. The emphasis in this course is on statistical inference and basic econometrics. The principal topics covered are probability and probability distributions, sampling distributions, confidence intervals, hypothesis testing, and regression analysis. Computer software will be used to apply these techniques to relevant economic problems. Students may substitute MATH 260 for ECON 160.Prerequisite: ECON-101
ECON205Principles of ManagementExplores fundamental management concepts, strategies, and their impact on the modern business organization, combining theory with practical application. Core course topics revolve around leadership, team movitvation, goal-setting and evaluation, sustainable culture-building, effective communication, and results-oriented practices. Team work and oral presentation skills are heavily emphasized. Students ultimately define their own authentic leadership styles and purposes. Speakers, texts, and articles will supplement class discussions. Prerequisite: ECON-101
ECON210International BusinessInternational Business is a survey course that introduces the student to the various aspects of international business. We study both the environment in which international business is conducted and specific business topics as they relate to global transactions. To understand the context in which international business is conducted we explore the political, economic, legal and, in particular, cultural differences that exist across countries. We also review international trade and the foreign exchange market. Other specific topics covered are global negotiations, international marketing, organization, and international business strategies.Prerequisite: ECON-101
ECON215Principles of Managerial AccountingStudy of managerial accounting theory including cost accounting, production variance analysis, responsibility accounting and reporting, differential accounting, and budgeting.Prerequisite: ECON-150 (old number:ECON-210)
ECON220Principles of MarketingStudy of the marketing discipline as it applies to the effective management of small and large businesses. The course emphasizes marketing strategy, consumer motivation, market research, product positioning, target market segmentation, product development, pricing, promotion and distribution, and effective resource allocation. A team project, evaluated by industry experts, ties together course concepts. Students should be familiar with accounting and basic statistical concepts.
ECON225Economics Development and GrowthThe course explores the topic of economic development; what is the meaning of economic development and why are some countries "developed," while others are not. It explores what tools and policies can be used to improve the level of income and development in nations. It studies theories of economic development and models of economic growth and sheds light on topics such as population growth, human capital, income inequality, environmental impacts, and institutional frameworks.Prerequisite: ECON-101
ECON235Environmental and Resource EconomicsStudy of the economic perspective of environmental and resource problems and issues; the management and allocation of renewable and nonrenewable resources; the trade-off between economic growth and environmental amenities; and the impacts of natural resource availability on economic growth. Emphasis on the development and application of economic theory to contemporary natural resource issues.Prerequisite: ECON-101
ECON/SEMN240Economics for Global TravelersThis Sophomore Seminar examines how economics can contribute to a better understanding of the world and our place in it. We will look at differences, similarities, and linkages among the economics of various nations. We will study flows of money, products, people, technologies, and ideas across national borders. The approach will be non-technical with an emphasis on understanding economic ideas. We will spend more time writing and discussing than on models or equations. Does not count toward economics or business major. Prerequisite: Sophomores Only
ECON245Money, Banking, and Financial MarketsThe study of national and international trends in banking establishes an institutional and historic understanding of the American financial system in the context of the global economy. Issues of globalization, exchange rate regimes, financial crises, and the role of central banks and international institutions (IMF, World Bank, BIS) are then examined in relation to domestic issues like inflation, employment and investment.Prerequisite: ECON-155 or MATH-112
ECON250Cross-Cultural Consumer MarketingExplores consumer marketing across the globe and within U.S. sub-cultures. Students will compare consumer motivation, purchase behavior, cultural norms, branding, and marketing practices in different areas of the globe, as well within ethnic, gender, age, and socio-economic segments domestically. Global branding case studies will supplement texts and discussions.Prerequisite: ECON-220
ECON262Fiscal & Monetary Policy in Times of CrisisSince the financial crisis of 2009, countries has used unusual and novel fiscal and monetary policies in their attempts to stabilize and grow their economies. New policies include austerity bail-outs, zero interest rates, and quantitative easing. We will examine the theoretical underpinnings of these policies as well as their real world impacts.Prerequisite: ECON-101
ECON265Issues in Urban EconomicsThis course is both an introduction to urban economics and an in-depth study of one current urban issue. We will examine why cities exist, where they develop, and how they grow and decline. We will also study the economic aspects of contemporary urban planning and development policy issues such as land use zoning, housing, traffic congestion, publicly vs. privately provided goods.Prerequisite: ECON-101
ECON270Labor Economics
ECON275Industrial Organization and Public PolicyIndustrial Organization studies the impact of market structure on strategy, conduct, and economic performance. This course will use industry studies to develop the theoretical framework of industrial organization, to examine economic problems related to different market structures, and to analyze public policy. We will spend a substantial amount of time on the history of individual industries. We will explore U.S. public policy towards industry, with an emphasis on antitrust. Prerequisite: ECON-101
ECON/ANSO/PSYC279Organizational BehaviorThis course is designed to provide you with analytical tools that will boost your assessment capabilities of organizations, the issues they are dealing with, and the challenges they and the people in them are facing. In addition, the material that will be covered during the term will tease and enhance your critical-thinking and investigative skills.Prerequisite: Sophomore standing
ECON280Law and EconomicsLaw and Economics studies the interaction between the legal system and the market system. It examines why law is necessary for markets to function and it uses economic principles to analyze laws. This course uses basic tools of economics to understand a variety of legal issues. Topics covered include property and contracts, civil vs. criminal law, antitrust, environmental regulation, and international trade policy.Prerequisite: ECON-101
ECON290Selected Topics in Economics Or Business Special Topics offerings focus upon topics not addressed in the department's regular offerings. The course can be repeated with a different topic. Check the course schedule to see when Special Topics courses are being offered. The course covers the basic management functionality of a small business including ideation, formation, growth management, personnel, and the coordination between functional areas notably operations, finance, and marketing. Evaluation of case studies and a team project utilizing an online simulation will tie together course concepts. Prerequisite: ECON-101
ECON305Intermediate MicroeconomicsThis course deals with (1) the study of the theories of household and firm behavior, equilibrium analysis, market structure, pricing, economic efficiency, and social welfare; and (2) the applications of microeconomics theory to solve real problems faced by actual decision makers in industry and government.Prerequisite: Business Majors: ECON-155 or MATH-112 and 1 200-level ECON course; Economics Majors: ECON-155 or MATH-112 and 1 200-level ECON course applicable to major requirements.
ECON306Intermediate MacroeconomicsThis course introduces the major schools of thought in macroeconomics theory, including the Classical, Keynesian, Monetarist, New Classical, and New Keynesian models. Topics covered include: the determinants of long-run economic growth; IS-LM framework and aggregate demand and supply framework in both closed and open economies; the short run fluctuation of the economy; the influence of monetary, fiscal, and exchange rate policy; and alternative theories about aggregate supply.Prerequisite: Business majors: ECON-155 or MATH-112 and 1 200-level ECON course; Economics majors: ECON-155 or MATH-112 and 1 200-level ECON course applicable to economics major.
ECON340Advertising & PromotionPromotion and Advertising is an intermediate level business course that builds on fundamental marketing principles. Students apply advertising and promotion principles to create, communicate and deliver brand equity value in products and services, organizations, and within the individual students themselves. The course explores the fundamentals of an integrated marketing communications campaign, from consumer behavior and communication theory to creative strategy and implementation. At each juncture, social, cultural, technological and regulatory issues will be considered.Prerequisite: Take ECON-101, ECON-150, and ECON-220
ECON350Principles of Corporate FinanceStudy of finance theory as it applies to corporate management and institutional investments. The course emphasizes present value analysis as an analytical tool, working capital management, resource budgeting, market efficiency, stock and bond valuation, dividend policy, financial leverage and risk, and mergers and acquisitions analysis.Prerequisite: ECON-150
ECON355Principles of InvestmentsThis course will provide a general overview of personal investing. We will discuss portfolio theory; equity, bond and commodity markets; investment tools and vehicles; and the construction of an effective investment portfolio. This will be taught from the perspective of the individual investor. Prerequisite: ECON-150, and ECON-160 or MATH-260
ECON360EconometricsA course that focuses on econometric theory and practice. Topics covered include the classical regression model, serial correlation, and time series estimation. In this computer lab based course, students will apply econometric techniques to economic questions and issues. Prerequisite: ECON-160 or MATH-260 or 261 and ECON-305 or ECON-306 Open to Junior and Sophomore ECON & BUSN majors only or Instructor Permission
ECON365Multinational FinanceExplores both international financial markets and global corporate finance. The main topic is the foreign exchange market as we explore how exchange rates are determined, can be predicted, and what derivatives can be used for foreign exchange risk management.Prerequisite: ECON-306
ECON370Negotiation and PersuasionThis course aims to give you a competitive advantage in situations that require you to influence others. Drawing from theory and research, the course will attempt to improve your understanding of negotiation and persuasion. Using case studies and exercises, the course will provide skills that enhance your ability to influence, negotiate, and manage conflicts.Prerequisite: Two 200-level ECON courses
ECON405International TradeExplores the gains from specialization and trade within the context of various international trade models. Studies the instruments of trade policy and their welfare effects and carefully explores the political economy of trade policy. Additional topics covered include outsourcing, harmonization efforts, and preferential trade agreements.Prerequisite: ECON-305
ECON410Open Economy MacroeconomicsThis course introduces basic concepts and analytical framework of open economy macroeconomics. It explores balance of payments, fixed and floating exchange rate, international financial markets, as well as equilibrium income in the open economy. It also provides students basic knowledge about how government policies affect private-sector performance in a global setting.Prerequisite: ECON-306
ECON415Public Sector EconomicsExamination of federal, state, and local budget priorities and programs from both theoretical and case study approaches. Implications of different taxing and spending decisions will be analyzed.Prerequisite: ECON-305
ECON480Financial Statement AnalysisThis course is designed to prepare students to analyze, interpret and use financial statements effectively, both from a general management and investment perspective. A central theme is "value creation" - how a manager may use financial statements to guide value creating behavior and how investors use financial statements to identify value-creating opportunities.Prerequisite: ECON-350
ECON485Strategic Marketing ManagementStrategic Marketing Management is intended for seniors who wish to explore marketing and general business strategy. Students will strategically assess business challenges and develop comprehensive marketing plans to address them. Economic, cultural, regulatory, social, and interpersonal issues will be considered.Prerequisite: ECON-150, ECON-220, and Seniors Standing
ECON490Advanced Topics in Economics Or BusinessThe content for this course varies each quarter. Prerequisite: ECON-305 and ECON-306 and Seniors Standing and ECON/BUSN Majors Only
ECON490Corporate Environmental SustainabilityEconomics Senior Seminar with a focus on Corporate Environmental Sustainability.Prerequisite: ECON-235
ECON593Senior Individualized ProjectEach program or department sets its own requirements for Senior Individualized Projects done in that department, including the range of acceptable projects, the required background of students doing projects, the format of the SIP, and the expected scope and depth of projects. See the Kalamazoo Curriculum -> Curriculum Details and Policies section of the Academic Catalog for more details.Prerequisite: Permission of department and SIP supervisor required.