Economics

A study of the basic economic factors relevant to the firm and to the consumer. This course includes various cost and revenue concepts, demand and supply models, and indifference curve analysis. Students will be expected to use computer applications to evaluate economic models.

Theory of production; market structures, equilibrium of the firm and the industry; the pricing of factors of production; analysis of consumer behavior; general equilibrium analysis; and welfare economics.

Analysis of classical and Keynesian theory. This course focuses on post-Keynesian developments in the analysis of the consumption, investments, and liquidity preference functions. Supply side economics, natural rate theory and rational expectations will also be covered, along with growth theories.

The nature of money, its functions, and its institutions. This course focuses on the role of money in the modern economy, the role of the Federal Reserve System and fiscal policy as tools of economic stabilization. Students will evaluate arguments for and against policy intervention.

This course builds on the concepts of economics presented at the principles level. It applies economic theory and methods to business and administrative decision making. It shows how management decision problems such as make or buy; inventory level and advertising are combined with the theories of the firm and market structure and pricing as well as the decision sciences lead to optimal solutions for managerial decisions.