Economics
Women's College and College of Adult Undergraduate Studies
Overview
Minor
Course Descriptions
Deborah Calhoun, M.B.A., Ph.D, Chair
Ademar Bechtold, Ph.D.
Larry Beyer, C.F.A, M.B.A.
Charles E. Yoe, Ph.D, Coordinator
The business and economics department of the School of Arts and Sciences offers a minor in economics to students in the Women's College. Economics is the study of the way individuals and societies choose to use scarce resources in both the private and public sectors. Economic concepts are applied to nearly every aspect of human activity from ensuring food safety; supporting transportation systems and health care services; shaping international trade policy, government monetary and fiscal policy; and evaluating political, social, environmental and other issues. As an indication of the importance of economics, it is the only social science for which a Nobel Prize is awarded.
Economists use their knowledge and skills to advise business firms, banks and other financial institutions; government agencies; international organizations; environmental organizations; special interest groups and others. The overarching goal of the economics program is to enable students to "think like an economist." Thinking like an economist requires problem-solving skills and creative thinking.
Economics graduates from Notre Dame have used their education and internship experiences as avenues to careers in local, state and federal government agencies, as well as in the private sector. Many also have used their classroom and practical experiences as stepping-stones to advanced degrees in economics, law, business and a variety of other fields. Our graduates are employed by organizations such as Motorola, Inc.; Legg Mason; and the Federal Reserve Bank. Several own their own companies. Students have earned graduate degrees at institutions such as Johns Hopkins University, Virginia Polytechnic University, Georgetown University, the University of New York, and the University of Brussels, Belgium.
The following economics courses satisfy the general education requirement in social sciences: ECO-211, ECO-212 and ECO-220. ECO-404 fulfills the general education requirement in cross-cultural studies. Economics minors must have a minimum grade of C in all courses to satisfy the minor.
Required Courses for the Minor in Economics
ECO-211 Introduction to Macroeconomics (3)
ECO-212 Introduction to Microeconomics (3)
ECO-311 Applied Macroeconomics or ECO411 Topics in Economics or ECO463 Independent Study in Economics (3)
ECO-402 Money and Banking (3)
ECO-404 International Economics (3)
ECO-440 Economics of the Environment and Natural Resources
or
ECO-330 Honors: Food Safety Risk Analysis (3)
Course Descriptions
ECO-211 INTRODUCTION TO MACROECONOMICS
Focuses on the United States economy and its relations with the
world. Examines how interactions among consumers, businesses,
government and the rest of the world impact economic growth,
inflation, unemployment and business cycles. Investigates the impact
of monetary and fiscal policies on the overall performance of the
economy. Fulfills general education requirement in social science.
[3 credits]
ECO-212 INTRODUCTION TO MICROECONOMICS
Examines the manner in which prices are determined and limited
resources are allocated efficiently through mastery of basic supply
and demand. Considers the behavior of producers and consumers under
various competitive conditions. Assesses the role of government in
responding to market failures. Fulfills general education
requirement in social science. [3 credits]
ECO-220 HONORS: ECONOMICS AND CONTEMPORARY ISSUES
Applies economic principles and methodologies to the decision-making
process of individuals, businesses and governments. Evaluates
current political, social and economic events using basic economic
theories and principles. Prerequisite: Morrissy Scholar or
permission. Fulfills general education requirement in social
science. [3 credits]
ECO-311 APPLIED MACROECONOMICS
Examines data related to economic, finance and international
indicators. Applies macroeconomic theory to assess the current state
of the economy and to forecast economic activities in the near
future. Evaluates current economic policies in light of the economic
forecast. Prerequisite: ECO-211. [3 credits]
ECO-330 HONORS: FOOD SAFETY RISK ANALYSIS
Analyzes the extent and significance of food-borne diseases in the
United States and around the world. Examines the most important
hazards to food safety, including food additives and pesticides,
microbial hazards, irradiation, and food defense and science-based
solutions to their management. Considers the interdisciplinary risk
analysis paradigm as a modern approach to food safety systems in
considerable detail. Prerequisite: Morrissy Scholar or permission.
[3 credits]
ECO-342 INTRODUCTION TO PUBLIC FINANCE
Analyzes the role of local, state and federal government in meeting
the demands of the public through examination of government's
expenditure and taxing policies. Examines the theory of public
goods, public expenditures, taxation, public choice, fiscal
federalism, budgeting and benefit-cost analysis along with their
application in public policy. Prerequisite: ECO-211 or ECO-212. [3
credits]
ECO-402 MONEY AND BANKING
Examines the interactions between the United States financial system
and the wider economy. Studies current developments in monetary
policy and financial markets and explores the impact of money on the
productive sector of the economy. Analyzes current economic,
financial and international issues and tracks a variety of economic
indicators to predict the actions of the Federal Reserve.
Prerequisite: ECO-211 or permission of instructor. [3 credits]
ECO-404 INTERNATIONAL ECONOMICS
Examines international trade theory, international trade policy and
international finance from multi-country and multicultural
perspectives. Applies economic models to explain the benefits from
trade and its effect on the distribution of income among different
groups within a country. Studies the impact of protectionist
policies on the standard of living of both importing and exporting
countries. Describes the balance of payments and develops models of
exchange rates. Investigates international capital and finance
issues in light of the current economy. Fulfills general education
requirement in cross cultural studies. Prerequisite: ECO-211 or
ECO-212. [3 credits]
ECO-411 TOPICS IN ECONOMICS
Provides opportunities to pursue special topics of current interest
in the field of economics.[3 credits]
ECO-440 ECONOMICS OF THE ENVIRONMENT AND NATURAL RESOURCES
Develops mastery of the theory of externalities, common property
resources, alternative pollution-control measures, limits to
economic growth, problems of exhaustible and renewable resources and
water resource economics. Applies this theory to problems of
environmental quality and management, ecosystem restoration and to
problems relating to the wise use of natural resources.
Prerequisite: ECO-211. [3 credits]
ECO-463 INDEPENDENT STUDY IN ECONOMICS
Provides opportunities for a student to study a topic of special
interest in economics under the guidance of a faculty member. [3
credits]