Economics
Faculty
Dr. A. Cristina Parsons, Associate Professor of Economics (program chair)
Dr. Dennis Farley, Visiting 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 MicroeconomicsWhat is ?economics? all about? Learn to think like an economist and make more informed personal financial decisions by building models of economic activity that provide a framework for understanding economics in the real world. Analyze economic interactions by exploring the strengths and weaknesses of the supply-demand model of competitive markets, followed by other models that show how markets operate when they aren?t purely competitive. Assess what the proper role of government is in the marketplace and the conditions under which government intervention can improve welfare when markets fail to be efficient. ECON is a prerequisite for all higher level economics courses and counts as a Social Science General Education course.
3 Credits
Prerequisites: None
ECON 102 Introduction to MacroeconomicsWhat is public policy, and how do governments conduct policies that affect the economy as a whole? Demystifies macroeconomic concepts like GDP, employment, and inflation, and shows how an economy?s ability to produce goods and services evolves over time. Focuses on the role of government in managing this change through fiscal and monetary policies, and discusses how economies are related to each other when countries trade internationally. Also improves critical thinking about global current events in the news. ECON 102 is a prerequisite for any higher-level economics course. Recommended to follow ECON 101, but may be taken directly with permission of instructor. General Education Civic Knowledge (Applications).
3 credits
Prerequisites: ECON 101 or permission from instructor
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; or Permission of Instructor
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 Minor Courses:
Minors must maintain a minimum cumulative GPA of 2.0 in their minor. Minors must receive a grade of “C” or better in required courses.
Pass/No Pass:
With the exception of internships, courses fulfilling a minor requirement may not be taken pass/no pass.
Transfer Credits:
Transferring students who wish to minor in economics must take at least three economics courses at Trinity. 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 102, MATH 108, or MATH 109 is highly recommended
ECON 101 Introduction to MicroeconomicsWhat is ?economics? all about? Learn to think like an economist and make more informed personal financial decisions by building models of economic activity that provide a framework for understanding economics in the real world. Analyze economic interactions by exploring the strengths and weaknesses of the supply-demand model of competitive markets, followed by other models that show how markets operate when they aren?t purely competitive. Assess what the proper role of government is in the marketplace and the conditions under which government intervention can improve welfare when markets fail to be efficient. ECON is a prerequisite for all higher level economics courses and counts as a Social Science General Education course.
3 Credits
Prerequisites: None
ECON 102 Introduction to MacroeconomicsWhat is public policy, and how do governments conduct policies that affect the economy as a whole? Demystifies macroeconomic concepts like GDP, employment, and inflation, and shows how an economy?s ability to produce goods and services evolves over time. Focuses on the role of government in managing this change through fiscal and monetary policies, and discusses how economies are related to each other when countries trade internationally. Also improves critical thinking about global current events in the news. ECON 102 is a prerequisite for any higher-level economics course. Recommended to follow ECON 101, but may be taken directly with permission of instructor. General Education Civic Knowledge (Applications).
3 credits
Prerequisites: ECON 101 or permission from instructor
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 BankingHow does the world of finance relate to the real (goods and services) economy? What do banks do and how do they channel funds from savers to borrowers? Explores how stocks, bonds, and other financial assets work, and asks whether the financial system is a necessary part of the economy or just a giant casino where speculators make and lose fortunes on risky bets. Provides a useful introduction to a very important aspect of modern economies, especially for Economics minors, Business Administration majors, International Affairs majors, Political Science majors, Global Affairs majors, and anyone who wants to better understand money and banking.
3 credits.
Prerequisites: ECON 101 and ECON 102.
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 101 and ECON 102 or permission of the instructor.
ECON 253 Issues in Economic DevelopmentWhy are some countries rich and others poor? Explores the various dynamics that contribute to a country?s transition from ?less developed? to ?developed? economy. Goes beyond standard economic theories of gross domestic product and income growth to consider how economic development includes diverse human welfare variables: population growth, health, education, poverty, internal migration, and more. Also focuses on the policy environment and how governments can choose a development strategy for their countries. Counts as an elective for the Economics minor and the Business Administration, International Affairs, and Global Affairs majors.
3 credits.
Prerequisites: ECON 101 and ECON 102
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; or Permission of Instructor
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 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: Admission to the 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