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ECON 2110G. Macroeconomic Principles ECONOMICS, APPLIED 3 Credits (3) is the study of national and global . Topics STATISTICS, AND include , and ; and how they are affected by financial systems, fiscal and monetary policies. INTERNATIONAL BUSINESS Learning Outcomes 1. Explain the concepts of opportunity , comparative advantage and Undergraduate Program Information exchange. 2. Demonstrate knowledge of the laws of and The Department of Economics, Applied Statistics and International equilibrium and use supply and demand curves to analyze responses Business in the College of Business offers an economics major to of markets to external events. Bachelor of Arts candidates in the College of Arts and Sciences. 3. Explain the circular flow model and use the concepts of aggregate (Additional information may be found under the Economics and demand and to analyze the response of the International Business section in the College of Business chapter). to disturbances. 4. Explain the concepts of , inflation and Degrees for the Department unemployment and how they are measured. Economics - Bachelor of Arts 5. Describe the determinants of the demand for , the supply of money and rates and the role of financial in the Minors for the Department economy. Economics - Undergraduate Minor 6. Define fiscal policy and monetary policies and how these affect the economy. Economics Courses 7. Students will be able to identify the causes of prosperity, growth, and ECON 1110G. Survey of Economics economic change over time and explain the mechanisms through 3 Credits (3) which these causes operate in the economy. This course will develop students’ economics literacy and teaches students how economics relates to the everyday life of individuals, ECON 2110H. Principles of Macroeconomics Honors and society in general. The course will also introduce 3 Credits (3) students to the roles different levels of play in influencing Macroeconomic theory and designed: national income the economy. At the conclusion of the course, students will be able to concepts, unemployment, inflation, and international identify economic causes for various political and social problems at payment problems. Must be a Crimson Scholar. national and international levels, and have a better understanding of Prerequisite(s): MATH 1220G. everyday economic issues that are reported in media and public forums. Learning Outcomes Learning Outcomes 1. Explain the concepts of , comparative advantage and 1. Gain and demonstrate a contextual understanding of economic terms exchange. and concepts. 2. Demonstrate knowledge of the laws of supply and demand and 2. Recognize and analyze common economic issues which relate to equilibrium and use supply and demand curves to analyze responses individual markets and the aggregate economy. of markets to external events. 3. Learn basic economic principles that influence global trading and 3. Explain the circular flow model and use the concepts of aggregate challenges relating to . demand and aggregate supply to analyze the response of the 4. Outline the implications of various economic policies on individuals economy to disturbances. and on economies. 4. Explain the concepts of gross domestic product, inflation and 5. Demonstrate ability to use diagrams and graphs to explain economic unemployment and how they are measured. principles, policies and their applications. 5. Describe the determinants of the , the supply of 6. Appreciate and understand how individual decisions and actions, money and interest rates and the role of financial institutions in the as a member of society, affect economies locally, nationally and economy. internationally. 6. Define fiscal policy and monetary policies and how these affect the 7. Explain the roles of governments in influencing buyer and seller economy. behavior in the and how failure occurs when 7. Students will be able to identify the causes of prosperity, growth, and intervention fails to improve or actually worsens economic outcomes. economic change over time and explain the mechanisms through 8. Be able to apply course concepts to interpret, evaluate and think which these causes operate in the economy. critically about economic events and policies, especially as regularly reported in the media and other public forums. 2 Economics, Applied Statistics, and International Business

ECON 2120G. Principles ECON 324V. Developing Nations 3 Credits (3) 3 Credits (3) This course will provide a broad overview of microeconomics. Economic analysis of problems related to development of developing Microeconomics is the study of issues specific to , firms, or nations. Issues such as growth, industrialization, , population, industries with an emphasis on the role of markets. Topics discussed international , foreign debt, and international economic relations. will include and firm behavior, demand and supply,government ECON 325V. of Latin America intervention, market structures, and the efficient allocation of resources. 3 Credits (3) Learning Outcomes Economic analysis of problems related to development in Latin 1. Explain the concept of opportunity cost. America, including the agrarian problem, debt and programs, 2. Demonstrate knowledge of the laws of supply and demand and industrialization, inflation and unemployment, the drug trade, U.S.-Latin equilibrium. American relations, development strategies. Also individual countries 3. Use supply and demand curves to analyze responses of markets to problems. external events. ECON 332. Public 4. Use supply and demand analysis to examine the impact of 3 Credits (3) government intervention. This course will examine the roles of government in modern, market- 5. Explain and calculate of demand and other oriented, mixed economies. It will examine justifications for government elasticities. participation in resource allocation, income , and economic 6. Demonstrate an understanding of producer choice, including cost and stabilization focusing primarily on the fiscal functions of government, break-even analysis. taxation and public expenditure. Students will apply basic microeconomic 7. Compare and contrast the following market structures: perfect analysis to analyze the impacts of public taxation and expenditures on , , , and . economic decisions made elsewhere in the economy. In this course the emphasis will be on understanding the workings of public finance in fiscal ECON 2120H. Principles of Microeconomics Honors federalist systems like the United States, but the principles taught will be 3 Credits (3) applicable across other economic systems. Prerequisites: ECON 2120G Microeconomic theory and public policy: supply and demand, theory of or ECON 2120H the firm, market allocation of resources, income distribution, competition ECON 335V. Business and Government and monopoly, governmental regulation of businesses and unions. Must 3 Credits (3) be a Crimson Scholar. Relation of government to business through regulation; political, legal, Prerequisite(s): MATH 1220G. and social implications. Crosslisted with: MGMT 335G Learning Outcomes 1. Explain the concept of opportunity cost. ECON 336. Labor Economics 3 Credits (3) 2. Demonstrate knowledge of the laws of supply and demand and This course aims at developing students' understanding of how the labor equilibrium. market works. Topics to be covered include: labor supply and demand, 3. Use supply and demand curves to analyze responses of markets to differentials, wage structure, unemployment, gender issues, labor external events. market discrimination, and migration. Prerequisites: ECON 2120G or 4. Use supply and demand analysis to examine the impact of ECON 2120H government intervention. ECON 337V. Natural Resource Economics 5. Explain and calculate price elasticity of demand and other 3 Credits (3) elasticities. Gain insight into important natural resource problems of our time. 6. Demonstrate an understanding of producer choice, including cost and Apply economic principles to problems in the preservation, use, and break-even analysis. development of agricultural, range, mineral, water, forestry, fishery, and 7. Compare and contrast the following market structures: perfect environmental resources. Understand the use of cost-benefit analysis for competition, monopoly, monopolistic competition, and oligopoly. government natural-resource projects, policies, and programs. Same as AEEC 337V. ECON 304. Money and Banking Prerequisite: ECON 1110G or ECON 2120G or ECON 2120H. 3 Credits (3) ECON 345. Income measurement and determination, monetary and fiscal policies. 3 Credits (3) Prerequisite(s): ECON 2110G or ECON 2110H or equivalent. Examines the economics of energy including oil, coal, natural ECON 311. Intermediate Macroeconomic Theory gas, renewables, and conservation as a substitute for energy production. 3 Credits (3) Emphasis is on federal and state regulatory framework, and resulting Analysis of gross domestic product, the Classical, Keynesian, and Neo- public policy issues from a regional and national perspective. Keynesian theories of income, , inflation and growth. Prerequisite(s): (ECON 2110G or ECON 2110H), (ECON 2120G or Prerequisite(s): ECON 2110G or ECON 2110H or equivalent. ECON 2120H). ECON 312. Intermediate Microeconomic Theory 3 Credits (3) Contemporary economic theory with emphasis upon and distribution. Prerequisite(s): ECON 2110G or ECON 2110H or equivalent. Economics, Applied Statistics, and International Business 3

ECON 384V. Water Resource Economics ECON 471. Electricity Economics 3 Credits (3) 3 Credits (3) Use of economic principles to evaluate current and emerging issues in Regulatory policy and economic analysis related to the Electric . water resources. Applications focus on use of economic methods of Topics include characteristics of a and legal justification for analysis to current policy decisions surrounding agricultural, municipal, regulation; characteristics and functions of a regulatory commission; industrial, and environmental uses of water. Same as AEEC 384V. history and structure of the industry; and network design; Prerequisite: AEEC 1110 or ECON 2120G or ECON 2120H. revenue requirements; cost allocation; and basic retail rate design. ECON 404. Collegiate , Federal Reserve Crosslisted with: ECON 571. 3 Credits (3) Prerequisite(s): ECON 345. Students serve on the Collegiate Advisory Board of the El Paso branch of ECON 489. Senior Economics Seminar the Federal Reserve Bank of Dallas. Guest speakers provide an overview 3 Credits (3) of the Federal Reserve System, role of , and issues facing Seminar primarily for economics majors in their final semester. Provides specific industries in the local, national, and global economies. Students an opportunity to apply economic theory to a broad variety of topics. prepare reports, including a final paper, on an assigned industry in the Prerequisite(s): ECON 311 or ECON 312. regional or state economy and the current economic performance of their ECON 490. Selected Topics industry. Students must be of junior rank or higher with a GPA of at least 1-3 Credits 3.5. Consent of Instructor required. Current topics in economics. Subject matter to be designated for each ECON 405. Introductory semester. 3 Credits (3) ECON 498. Independent Study Multiple regression and correlation applied to economics and business; 1-3 Credits inference techniques; significance tests; simultaneous equations, Individual studies directed by consenting faculty with the prior approval estimation, and problems. of the department head. May be repeated for a maximum of 3 credits. Prerequisite(s): MATH 1350G or A ST 311 (or equivalent). Prerequisite: junior or above standing and consent of instructor. ECON 432V. Economics of Health Care ECON 503. 3 Credits (3) 3 Credits (3) Analysis of the allocation of resources in the field of health and medical Theory and application of microeconomics to the of care. . ECON 445. Oil and Natural Gas Economics Prerequisite(s): MATH 1350G or A ST 311 or equivalent with B or better. 3 Credits (3) ECON 545. Econometrics II Examines the economics of oil and gas production. Topics covered 3 Credits (3) include transportation, refining, federal and state regulatory framework, Application of statistical techniques to estimation of economic and resulting public policy issues from a regional and national relationships: demand functions, production and cost functions, and perspective. macroeconomic equations. Prerequisite(s): ECON 345. Prerequisite(s): ECON 457 and AEEC 540. ECON 449. Macroeconomics ECON 550. Special Topics 3 Credits (3) 1-3 Credits This course studies theoretical and empirical macroeconomics in Seminars in selected current topics in the various areas of economics. international dimension. It covers from the fundamental concepts Prerequisites vary according to the topic being offered. of national income and growth, monetary/fiscal and exchange rate policies, foreign exchange markets, and finance, and ECON 571. Regulatory Policy and Industry Analysis: Electricity I regionalization/economic integration to the impact analysis of these 3 Credits (3) macroeconomic fundamentals in the open economy. Crosslisted with: Regulatory policy and economic analysis related to the Electric Industry. I B 449. Topics include: characteristics of a utility and legal justification for Prerequisite(s): BFIN 341 OR ECON 311. regulation; characteristics and functions of a regulatory commission; history and structure of the industry; technology and network design; ECON 450. revenue requirements; cost allocation; and basic retail rate design. 3 Credits (3) Trade and flows between countries, international payments, ECON 572. Regulatory Policy and Industrial Analysis: Water and Natural government policy in balance-of-payments and matters, Gas international organizations. Crosslisted with: I B 450 3 Credits (3) Prerequisite(s): ECON 2110G or ECON 2110H and ECON 2120G or Regulatory policy and economic analysis related to the Natural Gas and ECON 2120H. Water industries. Topics include: history and structure of the industry; technology and network design; revenue requirements; cost allocation; ECON 457. and retail rate design. 3 Credits (3) Application of mathematical tools, especially the , to economic theory. Prerequisite(s): MATH 1430G or equivalent. 4 Economics, Applied Statistics, and International Business

ECON 573. Regulatory Policy and Industry Analysis: Electricity II 3 Credits (3) Regulatory policy and economic analysis related to the Electric industry. Topics include: optimal generation mix; ancillary services; environmental policies; rate case procedures and strategies for effective testimony; advanced retail rate design; wholesale exchanges; unbundled transmission tariffs; market institutions and how different markets function; state and federal deregulation policies; Federal Energy Regulatory Commission orders and policies; demand-side management; and regulatory treatment of non-traditional retail services. Consent of instructor required. Prerequisite(s): ECON 571 or consent of instructor. ECON 574. Advanced Seminar Regulatory Policy and Industry Analysis 3 Credits (3) Advanced seminar and writing course specializing in regulatory policy and regulatory casework. Topics Include: special policy & regulatory issues in telecommunications, electricity, natural gas, and water; preparation of written testimony; expert witness effectiveness including cross-examination; and contested case management. This course involves extensive reading and writing assignments. Consent of instructor required. Prerequisite(s): ECON 571 or consent of instructor. ECON 581. International Economics 3 Credits (3) Trade and capital flows between countries, international payments, government policy in balance-of-payments and tariff matters, international organizations. Prerequisite(s): ECON 311 and ECON 312. ECON 582. Economics of Health Care 3 Credits (3) Analysis of the allocation of resources in the field of health and medical care. Taught with ECON 432V with differentiated assignments for graduate students. ECON 596. Independent Study 3 Credits (3) Individual study program. Each offering will cover a subtitle. Maximum of 3 credits in a semester and 6 credits in a program. Consent of instructor required.

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