HSSA: Economics (S) (ECON)

Analyzes the market behavior of buyers and sellers. Topics include demand and supply, costs, competition, oligopoly, monopoly, economic efficiency and resource allocation, the effects of government intervention, and international trade. A student cannot take both SV 150 and SV 151, Principles of Economics, for credit.

Analyzes the performance of the entire economy. Topics include demand and supply, GDP, unemployment and inflation, the impact of monetary and fiscal policy, business cycles, determinants of economic growth, and international finance. A student cannot take both SV 152 and SV 151, Principles of Economics, for credit.

Analyzes optimal choice, and the conditions required for efficient exchange in market economies. Emphasizes rational choice theory as it applies to consumers and businesses, with complementary examination of uncertainty, anomalous features of actual market behavior.

Studies the economy as a whole, including factors affecting economic growth, unemployment and inflation. Explains economic events and considers how policies affect economic performance.

Applies economic analysis to the management of modern business enterprise. Emphasizes demand estimation, business forecasting, uncertainty, investment decisions, capital budgeting, and pricing strategies. Students should have some knowledge of business statistics.

Examines the nature and functions of financial markets and institutions. Analyzes the determination of interest rates and the processing of information. Considers the relationship between the financial system and the macroeconomy.

Analyzes the consequences of pollution and discusses possible solutions to reduce pollution. Introduces analytical tools used in environmental planning. Performs benefit-cost analyses of regulations dealing with air, water, and solid waste pollution.

Introduces managerial finance. Examines the valuation of assets, the cost of capital, capital structure, working capital management, planning and budgeting, and long-term financing.

Analyzes the theory of international trade, trade policy, foreign exchange and the payments adjustment process, adjustment policies and multinational corporations.

Studies the workings of international financial markets, the role of exchange rates in international trade and capital movement, and the effects of exchange rate volatility. Topics include exchange rates and the foreign exchange market, the balance of payments, parity conditions, the international monetary system, and international interdependence.

Introduces techniques used to solve strategic games encountered in business and economics. Analyzes behavior of economic agents in various situations including single and repeated games with perfect and imperfect information.

Examines a selected topic in one of the HSSA disciplines in depth. A particular offering may require a prerequisite.

Applies statistical methods to problems of economic analysis. Stresses the use of regression analysis in economic research and discusses the special problems encountered in empirical investigation of economic phenomena. In addition to SL 151, the student should have some knowledge of statistics.

Illustrates the use of mathematics in economic analysis. Includes discussion of mathematical programming, decision theory, the applications of differential and integral calculus, differential and difference equations.

Allows for individual study of an HSSA topic selected by the instructor and the student(s). A plan of study, regular meetings with the instructor, and a major term project are required.