Economics
Faculty
Dr. A. Cristina Parsons, Associate Professor of Economics (program chair)
Dr. Dennis Farley, Assistant Professor of Economics
Description
The Economics program at Trinity combines the traditional cornerstones of economics with the distinct emphases of Trinity’s mission. The curriculum provides all students with the opportunity to become familiar with the macroeconomic and microeconomic paradigm, as well as to develop facility with economic applications in various policy areas. Consistent with the interdisciplinarity of Trinity’s curriculum and its focus on gender, race, and diversity, the courses offered by the Economics program invite students to study the discipline from a variety of perspectives and to understand the historical and institutional context in which both private and public decisions are made. In addition, the Economics program follows the mission of Trinity by providing both breath and depth of study and by encouraging students to develop an ability to abstract, handle data, and critically analyze existing work, both theoretical and applied.
The Economics program supports a minor in the College of Arts and Sciences.
Minor Requirements
The minor in Economics requires 18 total credits.
Required Courses (12 credits)
ECON 101 Introduction to MicroeconomicsIntroduces principles of microeconomics and their applications. Topics include supply and demand, operation of markets, consumer and enterprise behavior, competition and monopoly, and microeconomic policy. Formerly ECO 122 Principles of Economics I.
3 credits
Prerequisites: ECON 100 and MATH 101S, or permission of instructor
FLC Area V
Core Area II: Understanding Self, Society, and Nature
ECON 102 Introduction to MacroeconomicsIntroduces principles of macroeconomics and their applications. Topics include national income, unemployment, inflation, and economic growth. The role of policy in affecting macroeconomic outcomes is examined in detail. Formerly ECO 121 Principles of Economics II.
3 credits
Prerequisites: ECON 100 and MATH 101S, or permission of the instructor
FLC Area V
Core Area II: Understanding Self, Society, and Nature
ECON 311 Microeconomic TheoryExamines the behavior of individual economic agents. Develops models of consumer and producer behavior in the setting of perfect competition, monopoly, and other market structures. Formerly ECO 365 Microeconomic Theory.
3 credits
Prerequisites: ECON 101 and ECON 102 or ECON 321 Managerial EconomicsDevelops in students the capacity to analyze the economic environment in which firms make decisions, as well as to apply economic reasoning to organizations' internal decision making. In doing so, this class bridges the gap between economic theory and practice.
3 credits
Prerequisites: ECON 101 and ECON 102
ECON 312 Macroeconomic TheoryExamines the economy from the aggregate point of view. Analyzes the factors that cause fluctuations in important economic variables such as output, employment, consumption, investment, the price level, interest rates, and exchange rates. Formerly ECO 366 Macroeconomic Theory.
3 credits
Prerequisites: ECON 101 and ECON 102 or ECON 322 Applied MacroeconomicsDevelops in students the capacity to analyze the macroeconomic environment, and how that environment influences managerial decisions. In doing so, this class bridges the gap between economic theory and practice.
3 credits
Prerequisites: ECON 101 and ECON 102
Elective Courses (6 credits)
TWO additional upper-level (200- or 300-level) courses in economics.
Program Policies
Advanced Placement:
Advanced Placement scores of 4 or 5 will be accepted for credit by the Economics program to satisfy ECON 101 and ECON 102.
CLEP Policy:
Standard scores and above are accepted in the CLEP examination only in consultation with program faculty.
Grades in Major Courses:
Majors must maintain a minimum cumulative GPA of 2.0 in their major. Majors must receive a grade of “C” or better in required courses.
Pass/No Pass:
With the exception of internships, courses fulfilling a major or minor requirement may not be taken pass/no pass.
Senior Assessment:
The senior assessment for economics majors, a comprehensive project to be completed under the direction of program faculty, is a component of ECON 499. Students must earn a grade of “C” or better on this project.
Transfer Credits:
Transferring students who wish to minor in economics must take at least three economics courses at Trinity. Transferring students who wish to major in economics must take at least six economics courses at Trinity, one of which must be ECON 499. Acceptance of transfer courses is dependent upon program review and approval.
Course Descriptions
ECON 100 Principles of EconomicsIntroduces the basic principles of economics to students with no prior economic training and provides foundational skills for Economics 101 and Economics 102.
3 credits
General Education Requirement: Knowledge and Inquiry
Prerequisites: successful completion of MATH 101S is highly recommended
ECON 101 Introduction to MicroeconomicsIntroduces principles of microeconomics and their applications. Topics include supply and demand, operation of markets, consumer and enterprise behavior, competition and monopoly, and microeconomic policy. Formerly ECO 122 Principles of Economics I.
3 credits
Prerequisites: ECON 100 and MATH 101S, or permission of instructor
FLC Area V
Core Area II: Understanding Self, Society, and Nature
ECON 102 Introduction to MacroeconomicsIntroduces principles of macroeconomics and their applications. Topics include national income, unemployment, inflation, and economic growth. The role of policy in affecting macroeconomic outcomes is examined in detail. Formerly ECO 121 Principles of Economics II.
3 credits
Prerequisites: ECON 100 and MATH 101S, or permission of the instructor
FLC Area V
Core Area II: Understanding Self, Society, and Nature
ECON 103 Current Issues in MicroeconomicsAnalyzes current topics in applied microeconomics as a way of introducing students to basic economic theory and to the questions addressed by the discipline.
3 credits
FLC Area V
ECON 104 Current Issues in MacroeconomicsAnalyzes current topics in applied macroeconomics as a way of introducing students to basic economic theory and to the questions addressed by the discipline.
3 credits
FLC Area V
ECON 221 Environmental EconomicsAnalyzes the theoretical principles of environmental economics. Topics include the valuation of and the demand for environmental goods, the basic theory of markets and market failure in the presence of externalities, and private and government solutions to market failure. Formerly ECO 235.
3 credits
Prerequisites: ECON 101 and ECON 102 or permission of the instructor
FLC Area V
ECON 223 Women in the EconomyApplies the theory of the household and investment in human resources to female labor force participation, marriage, family formation, sex discrimination, women's education choices, and government policies affecting the economic status of women. Formerly ECO 375 Women in the Economy.
3 credits
Prerequisites: ECON 101 and ECON 102 or permission of the instructor
FLC Area V
ECON 224 Public FinanceAnalyzes the theoretical principles of government expenditure and taxation. Topics include public goods, externalities, cost-benefit analysis, the structure of the U.S. tax systems, and the effects of expenditure programs and taxes on economic behavior. Specific public policy issues are also addressed. Formerly ECO 369 Public Finance.
3 credits
Prerequisites: ECON 101 and ECON 102 or permission of the instructor
ECON 226 Labor EconomicsAnalyzes the theoretical principles of labor market processes, including wage and employment determination, the organization and role of labor unions, the structure of labor markets, labor market discrimination, and macroeconomic implications of labor market behavior. Formerly ECO 361 Labor Economics.
3 credits
Prerequisites: ECON 101 and ECON 102 or permission of he instructor
ECON 241 Money and BankingDescribes and analyzes money and its functions; the financial system, including the monetary authority, financial institutions, and financial markets; and monetary policy, its implementation and effects on the economic system. Formerly ECO 263 Money and Banking.
3 credits
Prerequisites: ECON 101 and ECON 102 or permission of the instructor
ECON 252 Comparative Capitalist SystemsExamines a variety of capitalist models, and the alternative ways in which societies have tried to resolve the contradictions within capitalism. Topics include isolating the defining institutions of capitalism, the role that they play in influencing the behavior of economic actors, the role of history and culture in shaping economic behavior, the role of government and government policy in alternative economic systems, and the fundamental arguments for and against capitalism.
3 credits
Prerequisites: ECON 100
ECON 253 Issues in Economic DevelopmentExamines economic problems of developing countries, with an emphasis on the role of policy. Compares economic performance across both developing and developed countries. Formerly ECO 280 Issues in Economic Development.
3 credits
Prerequisites: ECON 101 and ECON 102 or permission of the instructor
FLC Area V
ECON 299 Honors Seminar: Special Topics in EconomicsAnalyzes economic issues in the United States.
3 credits
Prerequisites: Admission to the Honors Program or permission of the instructor
FLC Area V
ECON 311 Microeconomic TheoryExamines the behavior of individual economic agents. Develops models of consumer and producer behavior in the setting of perfect competition, monopoly, and other market structures. Formerly ECO 365 Microeconomic Theory.
3 credits
Prerequisites: ECON 101 and ECON 102
ECON 312 Macroeconomic TheoryExamines the economy from the aggregate point of view. Analyzes the factors that cause fluctuations in important economic variables such as output, employment, consumption, investment, the price level, interest rates, and exchange rates. Formerly ECO 366 Macroeconomic Theory.
3 credits
Prerequisites: ECON 101 and ECON 102
ECON 321 Managerial EconomicsDevelops in students the capacity to analyze the economic environment in which firms make decisions, as well as to apply economic reasoning to organizations' internal decision making. In doing so, this class bridges the gap between economic theory and practice.
3 credits
Prerequisites: ECON 101 and ECON 102
ECON 322 Applied MacroeconomicsDevelops in students the capacity to analyze the macroeconomic environment, and how that environment influences managerial decisions. In doing so, this class bridges the gap between economic theory and practice.
3 credits
Prerequisites: ECON 101 and ECON 102
ECON 351 International TradeExamines the economic theory of international trade. Topics include theories on why countries engage in trade; tools of trade policy; reasons for trade restrictions; economic effects of regional trading blocs, such as the North American Free Trade Agreement and the European Community. Formerly ECO 270 International Economics.
3 credits
Prerequisites: ECON 101 and ECON 102 or permission of the instructor
FLC Area V
ECON 353 International FinanceExamines the economic theory of global financial macroeconomics. The course describes and analyzes the determinants of exchange rates, trade balances, and capital flows. The role of policy in affecting output levels, price levels, and interest rates in different countries is examined in detail. Past and present international monetary arrangements are examined. Formerly ECO 371 International Finance.
3 credits
Prerequisites: ECON 101 and ECON 102 or permission of the instructor
ECON 361 Mathematical EconomicsCovers mathematical principles required for students to perform advanced economic analyses.
3 credits
Prerequisites: ECON 101, ECON 102, MATH 110 and MATH 125
ECON 371 EconometricsCovers mathematical principles required for students to perform advanced economic analyses.
3 credits
Prerequisites: ECON 101, ECON 102, MATH 110 and MATH 125
ECON 399 Trading Spaces: Migration, Narration, EconomicsExamines migration, humanity's ceaseless ebb and flow across all the spaces of the globe, through the twin lenses of literature and economics. In literature, we explore narratives of men and women driven to "trade spaces" through various intersections of necessity and desire. Through economics, we examine the socioeconomic patterns that underlie wide-scale relocations of peoples, from the industrialization of early modern Western economies to the global trade in women of the post-modern era.
3 credits
Prerequisites: Honors Program or permission of Instructor
FLC Seminar II
Cross-listed with ENGL 399
ECON 491 InternshipAllows students to pursue an internship for credit. Economics majors may be employed in meaningful work in government, business, labor, research, and finance. Eligibility for internship requires at least second semester junior status. Forty hours are required for each credit; no more than three credits can be earned for a single internship. No more than two internships are eligible for credit. Supervision includes weekly consultation with the internship advisor and constant supervision by the onsite internship supervisor. Two evaluations are required: one by the onsite supervisor and one by the student. Pass/no pass grading system is used. Formerly ECO 488 Internship.
Credits arranged
Prerequisites: ECON 101 and ECON 102 or permission of instructor
ECON 498 Independent StudyAllows students to pursue an independent avenue of study under the direction of a faculty member.
3 credits
Prerequisites: ECON 101 and ECON 102 or permission of instructor
ECON 499 Senior Seminar in EconomicsDevelops advanced macroeconomic and microeconomic theory and applies it to current issues. Requires a major research paper. Formerly ECO 480 Senior Seminar in Economics.
3 credits
Prerequisites: ECON 101, ECON 102, ECON 311, and ECON 312