Principles of Microeconomics EC 101
Introduction to the organization and operation of a market economy with focus on how it allocates scarce resources; the analysis of consumer demand and profit maximizing behavior of business; examination of pricing and output decisions under conditions of competition, monopoly and imperfect competition. Analysis of markets for labor and capital. Policy issues include price ceiling and floors, competition and monopoly. 4 credits.
Principles of Macroeconomics EC 102
The course provides an introduction to the theory of income determination, national income analysis and international trade: The role of labor and capital in aggregate economic activity. Problems of unemployment and inflation. Functioning and impact of the monetary system. Monetary and fiscal policies for economic stabilization. International transactions and their influence on the domestic economy. US balance of trade deficits and exchange rate fluctuations. 4 credits.
The Economics of the European Union EC 445
Topics in European Union trade and finance. The policy implications of each economic aspect are explored and the effect of them on the welfare of the European Union is examined. 4 credits.