Economics is the study of the production, consumption, and distribution of goods and services. Economic study attempts to clarify how the use of natural, technological, and financial resources affects the lives of human beings. Economic concerns can range from the study of how a poor Appalachian family survives financially to the complex study of international trade laws between countries. Topics of specialization are many and include the study of energy costs, business cycles, employment, unemployment, housing, health care, money policies, taxation, labor contracts, agriculture, and international trade.
101 PRINCIPLES OF MICROECONOMICS
Economics 101 is a fundamental course in microeconomic analysis. It covers price theory, economic scarcity, consumer behavior, market equilibrium and disequilibrium, production costs, theory of the firm, market structures and income distribution. Other optional topics include the history of economic thought, externalities, market failure, international economics.
102/102H PRINCIPLES OF MACROECONOMICS/HONORS PRINCIPLES OF MACROECONOMICS
Economics 102 is a fundamental course in economic analysis. Emphasis is placed on theories of output determination, consumption, investment, inflation, unemployment, and fiscal and monetary policy. Other selected topics may include international balance of payments, growth and development, and urban problems.
105 THE AMERICAN ECONOMY
Economics 105 provides an introduction to the American economy, a foundation for understanding it and the problems that it faces. The course provides a description of the important institutions of our system and an analytical approach to the understanding of the basic economic problems generally suited for non business majors.
110 ECONOMICS OF THE ENVIRONMENT
Economics 110 searches for an economic understanding of contemporary environmental problems. Economic theory is used to explain why there is inefficient resource use and pollution. Public policy to correct environmental problems is examined critically, looking at the costs and benefits of such programs as Superfund cleanup, government regulation, and market incentives.
111 ECONOMIC HISTORY OF THE UNITED STATES
Economics 111 is a history of the economic development of the United States from its settlement to the present. Emphasis is placed on the growth and development of economic institutions, slavery, reconstruction, work, the industrial revolution, workers' movement, and U.S. imperialism.