Accounting

ACCT 095. Summer Intern Experience (Staff)
This course is for students working on unpaid summer internships. Credit will be awarded for successful completion of a relevant work-experience, along with a favorable employer evaluation and a short paper. Open to declared majors and minors in the department with a minimum overall grade point of 2.5 or above. The course may be repeated in different summers. The course does not count toward any major or minor in the department. By permission of instructor and department chair. Credit is awarded on a satisfactory/unsatisfactory basis. Summer only.

ACCT 217. Principles of Financial Accounting (Breidenbach, MacLeod, Staff)
The fundamental techniques of analyzing, recording, summarizing, and reporting the financial effects of business transactions. Sophomores and above, and second term freshmen intending to major or minor in accounting, who have a cumulative GPA of 3.0 or above, and permission of instructor. F, S.

ACCT 280. Financial Statement Analysis (0.50 unit; Charna, MacLeod)
Financial statements are ubiquitous in business. Whether a manager, a regulator, a lender, or an investor, one needs to examine a firm’s financial statements to understand what is happening in the company. This course focuses on understanding the integration and relationship of financial statements and develops students’ ability to analyze financial statements. Using case studies of real firms, students will learn the information available on the income statement, balance sheet, and cash flow statement. Students will also complete other projects that will develop their analytical skills and their comprehension of how various business activities affect the flow of information across the financial statements. Also listed as BUS 280. Prerequisite: C- or better in ACCT 217. F, S.

ACCT 341. Managerial Accounting (Staff)
Accounting for management planning and control. Cost-volume-profit relationships, costs of individual products and services, budgets and standards, business segments, inventory, and relevance of costs to management decisions. Prerequisite: C- or better in ACCT 217. S.

ACCT 342. Intermediate Accounting I (Breidenbach)
Accounting for published financial reports. The accounting and reporting environment, financial statement presentation, and accounting theory applied to asset accounts. Prerequisite: C- or better in ACCT 217. F.

ACCT 343. Federal Income Tax Accounting (Breidenbach)
The Federal tax system and taxation of individuals and corporations. Topics include specific items of income and expense, differences between tax regulations and accounting principles, planning to reduce income taxes, and tax research methodology. Prerequisite: C- or better in ACCT 217. F.

ACCT 348. Business Law I (Reulbach)
Study of legal concepts typically encountered by business persons. Topics include overview of U.S. legal system, in-depth study of contracts, torts (negligence), product liability, and business associations (sole proprietorships, partnerships, and corporations). Course recommended for juniors and above. F.

ACCT 349. Business Law II (Reulbach)
General survey of legal concepts typically encountered by business persons continues with sales, negotiable instruments, secured transactions, employment and labor law, property (real, personal, and intellectual), white collar crime, professional liability, and negotiation settlement. Course recommended for juniors and above. Prerequisite: C- or better in ACCT 348. S.

ACCT 350. Cost Accounting (Staff)
Pricing decisions; accounting for materials, labor, and overhead; joint products; and product yield and mix factors, Variance Analysis, and Activity Based Costing (ABC). Prerequisite: C- or better in ACCT 341. F.

ACCT 351. Accounting Systems (Staff)
Features of accounting information processing. Documents and records, data flow diagramming, controls, design concepts, and various systems examples for both large and small companies. Prerequisite: C- or better in ACCT 342 or permission of instructor. F.

ACCT 352. Intermediate Accounting II (Breidenbach)
Continuation of ACCT 342. Application of accounting theory to liability and equity accounts. Other topics include pensions, leases, and deferred income taxes. Includes presentation of The Statement of Cash Flows. Prerequisite: C- or better in ACCT 342. S.

ACCT 353. Auditing (Breidenbach)
The significance of and need for the opinion of an independent CPA concerning published financial statements; auditing standards, ethics, and techniques. Prerequisite: C- or better in ACCT 351 and C- or better or concurrent enrollment in ACCT 352. S.

ACCT 473. Advanced Accounting Issues and Problems (Staff)
This is a capstone experience for accounting majors. Selected topics include business combinations, accounting for partnerships, foreign currency transactions, and fund accounting. Prerequisites: C- or better or concurrent enrollment in ACCT 352. S.

ACCT 490A. Independent Study (Staff)
Elective for junior or senior majors. Open to non-majors with permission of department. Faculty supervised project in accounting. A 3.0 minimum overall grade point average and permission of instructor are required. F, S.

ACCT 490B. Group Independent Study (Staff)
Elective for junior or senior majors. Open to non-majors with consent of department. Faculty supervised group project in accounting. A 3.0 minimum overall grade point average and permission of instructor are required. F, S.

ACCT 491. Directed Readings (Staff)
Faculty supervised readings on a topic in accounting. A 3.0 minimum overall grade point average and permission of instructor are required. F, S.

ACCT 495. Apprenticeship Program (Staff)
Opportunity for seniors and possibly juniors to engage in off-campus work projects in areas where they have adequate academic preparation. Students must have a minimum 2.75 cumulative grade point average and permission of the instructor and department chair. Credit is awarded on a satisfactory/unsatisfactory basis. F, S.

Business

BUS 095. Summer Intern Experience (0.25 unit; Staff)
This course is for students working on unpaid summer internships. Credit will be awarded for successful completion of a relevant work experience, along with a favorable employer evaluation and a short paper. Open to declared majors and minors in the department with a minimum overall grade point of 2.5 or above. The course may be repeated in different summers. The course does not count toward any major or minor in the department. By permission of instructor and department chair. Credit is awarded on a satisfactory/unsatisfactory basis. Summer only.

BUS 103. Investment Practicum (0.25 unit; MacLeod)
As a basic introduction to the analysis of equity investments, this course provides students with a framework to evaluate the intrinsic value of a firm, with the goal of making stock investment decisions. The course is held in conjunction with the OWU Investment Club, which gives students a hands-on opportunity to make equity investment decisions. (Attendance is required at both the lecture and the Investment Club meeting, each held weekly.) This course is designed to develop a basic understanding of the financial evaluation process for those who have had no prior background; it is not appropriate for students who are already skilled in security analysis. F.

BUS 105. Exploring Business (Bryan, Charna, MacLeod)
This course is a study of the role of business organizations in contemporary society, types of business ownership, methods of business operation, and business functions. Topics covered include economic environment, global competition, entrepreneurship, general and human resource management, marketing, accounting, and finance, and their inter-relationships from an overall and integrated business perspective. F,S.

BUS 130. Economics Management Fellows Seminar (Team taught)
This is an introduction to contemporary topics in economics and management for academically strong freshmen who desire to develop a more in-depth knowledge of current issues and can maintain an Honors level discussion. Potential topics include leadership, globalization, labor economics, consumer behavior, and financial institutions and markets. This course will help students develop an analytical framework to study a breadth of topics in the economics and related fields. Consent of department chair. S.

BUS 200.2. Lifetime Financial Planning (MacLeod)
An introductory course teaching the basics of financial literacy and financial decision-making in order to better control one’s financial destiny. This course stresses that personal financial planning is a lifelong activity, and therefore course material will move through the life cycle—from wealth generation to wealth accumulation to wealth distribution. Key topics include borrowing and debt, pensions, savings vehicles, investments, real estate and insurance. This course will develop both practical financial skills and an understanding of the rapidly changing social and economic context for them. This course does not count toward any major or minor in the department. Prerequisite: C- or better in ECON 110 or BUS 210 or permission of instructor. Summer only.

BUS 210. Marketing Management (Bryan, Charna, Staff)
This course explores the role of marketing in business organizations while covering basic marketing concepts and applications. Course includes analyzing marketing opportunities, organizing, controlling the marketing effort, and planning new marketing programs. F, S.

BUS 264. Organizational Psychology (Henderson)
A broad introductory survey of psychological science on social behavior in organizations, with a focus on the application of psychological theory and research to human management. We will examine how individuals can become more effective members of organizations and create better organizations. Course topics and overarching questions include: how to rally other people to support our goals; how to design effective work teams; how to communicate our ideas effectively; how to avoid common pitfalls when working in a different culture; who has power in organizations and how to get it; and how to become an effective leader in organizations. Students will learn to analyze common organizational problems that people encounter in their everyday work and social lives. Also listed as BUS 264. Prerequisite: C- or better in PSYC 110. Tier 2 course. F, S. (Group I)

BUS 269. International Business Ethics (Flynn)
(Alternate years. Offered 2016-2017)
Major ethical principles and their application to modern business practices are discussed. The course uses case studies to focus on the modern corporation, with special attention to ethical dilemmas arising in the context of international business. Also listed as PHIL 269. S.

BUS 280. Financial Statement Analysis (0.50 unit; Charna, MacLeod)
Financial statements are ubiquitous in business. Whether a manager, a regulator, a lender, or an investor, one needs to examine a firm’s financial statements to understand what is happening in the company. This course focuses on understanding the integration and relationship of financial statements and develops students’ ability to analyze financial statements. Using case studies, students will learn the information available on the income statement, balance sheet, and cash flow statement. Students will also complete other projects that will develop their analytical skills and their comprehension of how various business activities affect the flow of information across the financial statements. Also listed as ACCT 280. Prerequisite: C- or better in ACCT 217. F, S.

BUS 300.1. Topics in Business (0.50 unit; MacLeod, Staff)
This is an advanced, variable content course that explores selected topics, issues, and themes in management. Specific modules will vary from semester to semester and year to year. Topics anticipated for 2016–2017 include Marketing Research, Digital Marketing, Human Resource Management, Operations, and Financial Derivatives. S.

BUS 300.6. The Internet: Economic Choices and Business Strategies (Boos, Simon)
(Not offered 2016-2017)
This seminar will focus on economic factors influencing consumers to use the Internet and the business strategies employed by firms in this new Internet Era. More specifically, from a management perspective the seminar will include examining the structure of the Internet economy, the major participants, their strategies, current trends and future projects. From an economics perspective the seminar will include examining consumer privacy issues, consumer access issues and unequal distribution of use, as well as economic theory of information search and use of the Internet. Prerequisites: C- or better in ECON 110 and BUS 210 or consent of the instructors.

BUS 320. The Business Aspects of Sport (MacLeod)
A study of the world of sports from a business perspective. Selected topics include major team sports franchising, ownership, player relations, salary arbitration, taxation, and venue management; minor sports development, and consumer orientation; stadia issues; development, promotion, marketing and management of major and minor events ranging from the Olympic Games to the Columbus Marathon; the production and merchandising of athletic equipment, clothing, and other sporting goods. Summer only.

BUS 331. Core Financial Concepts (0.5 unit; Charna, MacLeod)
A fast and hard-hitting course on the essential topics for understanding financial management. Topics include time value of money, stock and bond valuation, risk and return, capital budgeting techniques, and the cost of capital. Corns Scholars, majors in Accounting or Finance Economics, or students wanting more in-depth analysis on these topics should take BUS 361 Financial Management. Credit is not awarded for both BUS 331 and BUS 361. Prerequisites: C- or better in ACCT/BUS 280 Financial Statement Analysis. S, F.

BUS 340. E-Commerce Business Strategies (Boos)
This course will provide the background and basics of e-commerce and its impact on doing business in today’s economy. Case studies and readings will examine the business strategies associated with different B-2-B and B-2-C business models, as well as the specific e-marketing, advertising and promotion practices associated with these business strategies. Summer only.

BUS 345. The Economic Growth of Modern Japan (MacLeod/Rahman)
(Not offered 2016-2017)
A comparative study of economic policies and business management practices. This course will trace the economic development of Japan, especially since World War II, and attempt to explain it. Among the variety of causes of economic growth covered, emphasis will be put on the macroeconomic and microeconomic policies of the government, the general institutional structure of the Japanese economy, the structure and behavior of Japanese firms, and Japanese management practices. Throughout the course, comparisons will be made with other countries, particularly the United States and the European Union countries. May be taken for either ECON or BUS credit, but not both. Prerequisite C- or better in ECON 110. (Diversity)

BUS 361. Financial Management (Charna, MacLeod)
The scope and nature of corporate managerial finance. Topics include capital budgeting techniques, financial analysis, time value of money, risk and return, financial forecasting, sources and forms of long-term financing, and the cost of capital. Credit is not awarded for both BUS 331 and BUS 361. Prerequisite: C- or better in ACCT 217. F. (Quantitative)

BUS 363. Organizational Structure and Design (Staff)
(Not offered 2016-2017)
Analysis of organization structures and processes. The role of management in both private and public organizations receives special attention. Case studies are employed to illustrate and apply organization theory. Also listed as SOAN 363.

BUS 376. International Business (Boos, Bryan, MacLeod)
Fundamentals of international business and management in a global environment. This course will cover concepts related to the external international environment, business and national culture, cross culture communication and negotiations, multinational strategies, and global operations management. Prerequisites: C- or better in ECON 110 and BUS 210. F, S.

BUS 410. Brand Strategy and Management (Bryan)
This course extends the marketing concepts introduced in BUS 210 and explores branding theory, concepts, and tactics within a strategic marketing management perspective. Emphasis is placed on building competitive advantage through effective brand design, development, and management. Teaching methodologies range from theoretical study to applied case analysis. Prerequisites: C- or better in BUS 210, ECON 110 and MATH 105 or MATH 230 or PSYC 210. Juniors and above. S.

BUS 425. Entrepreneurship (Charna, Staff)
Brief overview of innovation and entrepreneurship in economic history and theory. Explores contemporary entrepreneurship within the larger economic and societal context. Investigates the skills, concepts, and theories employed by entrepreneurs in creating and building new ventures. Student teams fully develop a proposed new business venture, including preparing and presenting a complete business plan. Prerequisites: C- or better in BUS 210 and BUS 280 or permission of instructor. F, S.

BUS 462. Advanced Corporate Finance (MacLeod)
(Alternate years; offered 2016-2017)
This course extends the financial concepts introduced in BUS 361, exploring topics in corporate finance such as corporate restructuring (mergers, acquisitions and leveraged buyouts), working capital management, operating/financial leverage, foreign exchange, corporate governance and pension management. Teaching methodologies will range from theoretical study to applied case analysis. Juniors and seniors only. Prerequisites: C- or better in ACCT 217, BUS 361, and MATH 105 or equivalent. S.

BUS 465. Modern Portfolio Theory (MacLeod)
(Alternate years; not offered 2016-2017)
This course extends the basic financial concepts introduced in BUS 361, exploring topics in security analysis such as modern portfolio theory (MPT), individual security instruments, general security markets, behavioral finance, futures, and portfolio management. Teaching methodologies will range from theoretical study to applied case analysis. Juniors and seniors only. Prerequisites: C- or better in ACCT 217, BUS 361, and MATH 105 or equivalent. S.

BUS 476. International Business (Boos, Bryan, MacLeod)
Fundamentals of international business and management in a global environment. This course will cover concepts related to the external international environment, business and national culture, cross culture communication and negotiations, multinational strategies, and global operations management. Prerequisites: C- or better in ECON 110 and BUS 210. F, S.

BUS 490A. Independent Study (Staff)
Elective for junior or senior majors. Open to non-majors with permission of department. Faculty supervised project in management. A 3.0 minimum overall grade point average and permission of instructor are required. F, S.

BUS 490B. Group Independent Study (Staff)
Elective for junior or senior majors. Open to non-majors with consent of department. Faculty supervised group project in management. A 3.0 minimum overall grade point average and permission of instructor are required. F, S.

BUS 491. Directed Readings (Staff)
Faculty supervised readings on a topic in management. A 3.0 minimum overall grade point average and permission of instructor are required. F, S.

BUS 495. Apprenticeship Program (Staff)
Opportunity for seniors and possibly juniors to engage in off-campus work projects in areas where they have adequate academic preparation. A 2.75 minimum overall grade point required and permission of instructor and department chair. Credit is awarded on a satisfactory/unsatisfactory basis. F, S.

BUS 499. Senior Seminar (Bryan, Charna, MacLeod)
Analysis of contemporary management issues (e.g., strategic planning, LBOs, and mergers) for seniors and other students who have done substantial work in business areas. Students should apply for Senior Seminar before course pre-registration in the spring of their junior year. The chair of the department will notify students of their Senior Seminar placement. Prerequisite: C- or better in ACCT/BUS 280 and BUS 210 or consent of department chair. F, S.

Economics

ECON 095. Summer Internship Experience (0.25 unit; Staff)
This course is for students working on unpaid summer internships. Credit will be awarded for successful completion of a relevant work-experience, along with a favorable employer evaluation and a short paper. Open to declared majors and minors in the department with a minimum overall grade point of 2.5 or above. The course may be repeated in different summers. The course does not count toward any major or minor in the department. By permission of instructor and department chair. Credit is awarded on a satisfactory/unsatisfactory basis. Summer only.

ECON 110. Principles of Economics (Gitter, Rahman, Simon, Skosples, Yazar, Staff)
Principles underlying the operation of capitalist economies, and of the U.S. economy in particular. Emphasis is on consumption and production decisions at the micro level and on economic stability, efficiency, and growth at the macro level. F, S. (Group I, Quantitative)

ECON 251. Research Methods in Economics (Skosples, Staff)
This course deals with research methods in economics and management with some additional applications in accounting. The course focuses on the empirical use of statistical methods, primarily regression analysis, as well as data issues and an introduction to survey research. Prerequisite: C- or better in ECON 110 and a statistics course (MATH 105, MATH 200.3, MATH 230, or PSYC 210.) F, S. (Group I)

ECON 252. Intermediate Microeconomics (Rahman, Yazar)
Topics to be covered include the decision-making processes of consumers and firms, the competitive markets model, market power, and missing markets. Emphasis will be given to applications of the theoretical tools learned. Some use of algebraic and game theoretic tools. Prerequisites: C- or better in ECON 110 and a statistics course (MATH 105, MATH 200.3, MATH 230, or PSYC 210.) F, S. (NOTE: Prerequisite for ECON 252 Honors is C- or better in ECON 110 and MATH 110.) (Group I, Quantitative)

ECON 255. Monetary and Fiscal Policy (Simon)
The Federal Reserve System and how it affects the money supply, prices, and interest rates. Commercial banking, portfolio management, and the interaction of credit markets with other financial intermediaries and the economy. A comparison of neoclassical and Keynesian approaches to achieving macroeconomic goals via monetary and fiscal policies. Prerequisite: C- or better in ECON 110. S. (Group I)

ECON 259. National Income and Business Cycles (Skosples)
A course covering theories and applications of the aggregate economy in the short-run, long-run, and very long-run. Classical and Keynesian models are developed and contrasted in both a closed- and an open-economy context. Topics include the determinants of output, unemployment, and inflation, the theories of economic growth, an analysis of short-run fluctuations (business cycles), and monetary, fiscal, and trade policies. This course is designed to develop analytical tools which will enable the student to analyze macroeconomic problems and the wisdom of policymakers’ arguments and decisions. Special attention is given to the Great Depression and the Financial Crisis of 2008-09. Prerequisite: C- or better in ECON 110. F. (Group I)

ECON 260. Current Economics Issues (Simon)
The purpose of this class is to look at a variety of markets using three perspectives: theoretical (economic models and theories to explain behaviors), empirical (research that tests these theories), and political (policies to address issues). Topics vary depending on the interest of students and real world economic events of the time. For example, the topic of oil prices and world energy supply and demand would be discussed in most years. Other current topics might also include the subprime mortgage crisis, trends in the Federal Reserve’s discount rate, Social Security or outsourcing of jobs. The class will be an informal presentation and discussion of selected topics. Lectures will present economic models and theories while students’ research, presentations and papers will incorporate more of the empirical and policy material. Prerequisite: C- or better in ECON 110. Summer only. (Group I)

ECON 277. Labor Economics (Gitter)
The many aspects of labor as a factor of production in the economy, focusing in both the theoretical and empirical aspects of labor economics and the policy implications that follow. Among the topics considered are the demand for labor, the supply of labor (labor force participation and hours worked), the determinants of wage rates, unions, and unemployment. Prerequisite: C- or better in ECON 110. S. (Group I)

ECON 282. Global Poverty (Rahman)
(Not offered 2016-2017)
This course explores the conceptualization of poverty, the contrasting states of poverty around the globe, and the various causes of and potential solutions to persistent poverty. The core segments of the course are devoted to the economics of various poverty traps, the corresponding issues involving markets, governance and institutional constraints, and the pros and cons of different approaches in dealing with poverty at individual, local and national levels. The main objective of the course is to understand: (i) the complexities of various trade-offs and constraints that limit income opportunities of the extreme poor; (ii) incentive structures and institutional rigidities that undermine poverty alleviation efforts from governmental agencies and NGOs; and (iii) new issues and solutions that need to be considered in the global fight against poverty. Diversity course. Prerequisite: C- or better in ECON 110. Summer only. (Group I)

ECON 300.6. The Internet: Economic Choices and Business Strategies (Boos/Simon)
(Not offered 2016-2017)
This seminar will focus on economic factors influencing consumers to use the Internet and the business strategies employed by firms in this new Internet Era. More specifically, from a management perspective, the seminar will include examining the structure of the Internet economy, the major participants, their strategies, current trends and future projects. From an economics perspective the seminar will include examining consumer privacy issues, consumer access issues and unequal distribution of use, as well as economic theory of information search and use of the Internet. Prerequisites: C- or better in ECON 110 and BUS 210 or consent of the instructors. (Group I)

ECON 300.8. Behavioral Economics (Yazar)
This course is an upper-level course in behavioral economics building on the tools and methods introduced in microeconomic Theory and Research Methods. Empirical evidence from laboratory and the field suggests that human behavior diverges often from standard notions of economic rationality in predictable ways. This course is focused on modeling these departures from perfect rationality, self-interest, and risk-aversion assumptions of conventional economic theory. The course reviews experimental behavioral evidence from the literature regarding human decision processes and focus on formal modeling of this evidence in a way that can be used by economists. Applications of the theory are presented to illustrate how this new framework can improve predictive power of economic theory in applications. Prerequisites: C- or better in ECON 251 and ECON 252 or consent of the instructor. S.

ECON 345. The Economic Growth of Modern Japan (MacLeod/Rahman)
(Not offered 2016-2017)
A comparative study of economic policies and business management practices. This course will trace the economic development of Japan, especially since World War II, and attempt to explain it. Among the variety of causes of economic growth covered, emphasis will be put on the macroeconomic and microeconomic policies of the government, the general institutional structure of the Japanese economy, the structure and behavior of Japanese firms, and Japanese management practices. Throughout the course, comparisons will be made with other countries, particularly the United States and the European Union countries. May be taken for either ECON or BUS credit, but not both. Prerequisite C- or better in ECON 110. (Group I, Diversity)

ECON 353. Economic Development (Rahman)
This course provides an economic analysis of the problems and prospects of development, with a special focus on growth, poverty and related problems seen in contemporary less developed countries. Our analysis will begin with the age-old question regarding the determinants and dynamics of long-term economic growth. We will then analyze some key issues in the domestic context, such as: Income inequality, income poverty, population growth, rural development, unemployment, and access to capital. Finally, we will focus on some key issues in the international context, including gains and risks associated with trade, international capital flows, and the debate over foreign aid. While opinions on these issues are abundant and tend to be wide-ranging, the goal of our course is to focus on the positive analysis of these topics, understand the subtleties and complexities surrounding them, and build an intellectual foundation for informed thought. Prerequisite: C- or better in ECON 110. F. (Group I, Diversity, Quantitative)

ECON 354. Economic History (Spall)
Historical description and analysis of economic development in the Western world from A.D. 950 to the mid-20th century. Topics include Manorialism, early urban market economics, the Age of Ambition, Mercantilism, agricultural revolution, industrialization, classical economics, free trade and colonialism, varieties of socialism, neo-imperialism, rise of the welfare state, governmental growth, and dependency theory. Also listed as HIST 354. F. (Group I)

ECON 355. Econometrics (Gitter)
(Not offered 2016-2017)
The estimation of economic relationships by the use of multiple regression. The class explores the basic model as well as the effects of violating one or more of the basic assumptions of the Gauss-Markov Theorem. Prerequisites: C- or better in ECON 110 and ECON 251, or permission of instructor. S. (Group I)

ECON 357. History of Economic Thought (Staff)
(Not offered 2016-2017)
This course studies the history of economic thought from the Bible and classical Greek philosophers to the twentieth-century economists such as John Maynard Keynes, F. A. Hayek, and Milton Friedman. Rather than exploring economic history, this course deals with the history of economics. The course will focus on the most important individuals who have been influential in developing various schools of economic thought. Prerequisite: C- or better in ECON 110 or permission of instructor. S. (Group I)

ECON 366. Environmental and Natural Resource Economics (Staff)
This course explores how to apply economic tools to analyze the origins, consequences, and policy implications of environmental and natural resource problems. Students will learn why the free market often fails in the allocation of natural resources and in the provision of the optimal amount of environmental protection and amenities. Concepts such as efficiency, discounting, externalities, sustainability, and environmental valuation will be covered at length. We will then apply these concepts to a variety of natural resource and environmental problems with an emphasis on how incentive based policies can improve social welfare. Prerequisite: C- or better in ECON 110. F. (Group I)

ECON 370. Economic Systems (Skosples)
This course examines the principles, organization, and performance of contemporary economic systems. Various economies from different regions of the world are studied under three major types of economic systems: market-oriented economies, centrally planned and transitional economies, and less developed economies. Special attention is paid to the economic and political problems relating to transition. The course also discusses the transformation of existing economic systems through globalization and regional economic integration. Prerequisite: C- or better in ECON 110. S. (Group I, Diversity)

ECON 372. International Economics (Rahman)
This course provides an advanced economic analysis of international trade, migration flows, capital flows, and the corresponding open-economy macroeconomics under alternate exchange rate systems. The course begins with major theories regarding the reasons for and consequences of international trade. It then analyzes the economics of capital and migration flows, the dynamics of product cycles and intra-industry trade, and the pros and cons of interventionist trade policies. Finally, it looks at international balance of payments, foreign currency markets, and the role of exchange rates in understanding the macroeconomics of open economies and the viability of economic and political unions. Prerequisite: C- or better in ECON 110, and ECON 252, or permission. S. (Group I, Quantitative)

ECON 375. Industrial Organization (Yazar)
Theoretical and empirical study of how structure of an industry (e.g., monopolistic, oligopolistic, competitive) affects the conduct of firms and the performance of their markets. Among the topics to be covered are the theory of the firm, strategic competition and entry deterrence, antitrust laws, and economics of innovation. Prerequisites: C- or better in ECON 252 and a statistics course (MATH 105, MATH 200.3, MATH 230, or PSYC 210.) F. (Group I)

ECON 378. Public Finance (Gitter)
The government’s role in the allocation of goods in our economy. Among the topics are public goods (defense expenditures), externalities (the economics of the environment), government investment (cost benefit analysis), the economics of education and welfare, and public utilities. Prerequisite: C- or better in ECON 252. F. (Group I)

ECON 385. Mathematical Analysis for Economists (Staff)
(Not offered 2016-2017)
Constrained and unconstrained optimization of functions of several variables. Detailed study of linear and nonlinear systems. Focus on economic applications, not formal proofs. Prerequisites: C- or better in MATH 210 or permission of instructor. (Group I)

ECON 387. Introduction to Game Theory (Yazar)
The study of (noncooperative) multiplayer decision problems. Emphasis on translating an informal description of a process into a formal, game-theoretic problem to be analyzed. Covers static games of perfect information through dynamic games of incomplete information. Explores refinements of equilibrium concepts through perfect Bayesian equilibrium. A modest focus on evolutionary equilibria. Prerequisite: C- or better in ECON 110, ECON 252, and MATH 110, or permission of instructor. S. (Group I)

ECON 490A. Independent Study (Staff)
Elective for junior or senior majors. Open to non-majors with permission of department. Faculty supervised project in economics. 3.0 minimum overall grade point required and permission of the instructor. F, S.

ECON 490B. Group Independent Study (Staff)
Elective for junior and senior majors. Open to non-majors with consent of department. Faculty supervised group project in economics. 3.0 minimum overall grade point required and permission of instructor. F, S.

ECON 491. Directed Readings (Staff)
Faculty supervised readings on a topic in economics. 3.0 minimum overall grade point required and permission of instructor. F, S.

ECON 495. Apprenticeship Program (Staff)
Opportunity for seniors and possibly juniors to engage in off-campus work projects in areas where they have adequate academic preparation. A 2.75 minimum overall grade point required and permission of instructor and department chair. Credit is awarded on satisfactory/unsatisfactory basis. F, S.

ECON 499. Senior Seminar (Simon, Staff)
Integrative analysis of contemporary economic issues for senior economics majors, and other students who have done substantial work in economics and have the consent of the instructor. Students should apply for Senior Seminar before course pre-registration in the spring of their junior year. The chair of the department will notify students of their Senior Seminar placement. Prerequisite C- or better in ECON 251, ECON 252, and ECON 255 or ECON 259. If both ECON 255 and ECON 259 have been taken, a C- or better is required in both courses. S.