WCSU Undergraduate Catalog 2022-2023 : Macricostas School of Arts & Sciences


ECO 108 Contemporary International Economic Issues 3 SH
This course is designed for the general education student. It focuses on the global economic interdependence among nations, causes and consequences of global socioeconomic problems, and policy solutions. Topics include population explosion, world poverty, technology and information flows, environmental pollution (global warming), differences in educational and health care systems, global trading systems, and international drug trafficking. Offered periodically. Prerequisite: Sophomore standing.

ECO 207 Contemporary Domestic Economic Issues 3 SH
This course is designed to provide students with a foundational knowledge in understanding how the world works around them. It introduces students to basic economic theory, which helps them understand and evaluate critical issues, such as income inequalities, health care, discrimination, and crime. Students will gain economic literacy, which is an important tool in interpreting events that may directly or indirectly affect them and in preparing and responding to such events. Summer Only. 

ECO 211 Principles of Macroeconomics 3 SH
This course is intended to be an introduction to macroeconomic analysis. In this course, students learn about economic way of thinking, the basic macroeconomic indicators, use them to understand the causes of and patterns in various economic activities, and how they are related to each other. Topics include inflation, unemployment, fluctuations in aggregate economic activity, government budgets and debt, the banking system, and fiscal and monetary policies. By the end of the course, students will be able to examine economic problems using theories developed by economists to inform the public policy used to manage aggregate economy.  Prerequisite: MAT 118 or higher. Competency: Critical Thinking (CT).

ECO 213 Principles of Microeconomics 3 SH
Designed to acquaint the student with basic microeconomic concepts, theories and their applications. Topics include the theory of consumer demand, costs of production, theories of firm behavior in different market structures, resources allocation, income distribution and international trade. Every semester. Prerequisite: MAT 118 or higher. Competency: Critical Thinking (CT).

ECO/SOC/ANT 234 Economic Anthropology 3 SH
This course will give both a theoretical and a practical grounding in economic anthropology by focusing on recent fieldwork and publications within economic and cultural anthropology. After students are introduced to theoretical debates and issues in the field, they will read about and discuss people in the specific ethnographic contexts as they grapple with poverty, globalization, modernization, and development — always keeping in mind that the economy is closely intertwined with and cannot be understood apart from sociocultural factors in people’s lives. The course will involve small-group and large-group discussions, lots of interesting reading and a commitment to the formation of a critically thoughtful and engaged classroom community. Prerequisites: ANT 100 or SOC 100 or ECO 211 or permission of instructor.

ECO 240 Environmental Economics 3 SH
Environmental economics is intended to be an introduction to economic perspectives and analysis on environmental and natural resources issues. Students will examine economic theories related to natural resources, with an emphasis on the strengths and weaknesses of alternative viewpoints. The heart of environmental economics is applying cost-benefit analysis to examine environmental issues and efforts to address each of these issues. The analysis involves a lot of uncertainties with regards to the costs and benefits of such efforts and therefore we rely greatly on valuation methods such as contingent valuation and travel cost methods. Topics include economic analysis of common resources; economic analysis of depletable and renewable natural resources; the population problem; economics of pollution; the economic valuation of environmental goods; and ecological economics. Prerequisite:  ECO 213 or MAT 118 or higher.

ECO/PS 251 International Political Economy 3 SH
This course explores the concepts and theoretical foundations of the study of political economy. Course topics include: international trade, foreign aid, monetary policy, currency exchange, and economic development. The course also explores the relevant major theories underpinning the debate between free-market capitalism and economic protectionism. These topics are examined through both a domestic and an international framework. Prerequisite: PS 104 or instructor permission.

ECO/GEO 270 Geography of Environment & Development  3 SH
See GEO/ECO 270.

ECO 298 Faculty Developed Study 1–6 SH

ECO 299 Student Developed Study 1–6 SH

ECO 306 The Economics of Sports 3 SH
Sports economics is an applied economics course that uses the sports industry to explain economic concepts and examine public policy issues. Pertinent fields of study include game theory, public finance, and labor economics. Issues studied include competitive balance in a league, supply and demand of sports, collective bargaining (labor economics), why cities are willing to finance stadiums (public finance), market structure in professional sports, and the economics of intercollegiate sports. Taking this course will hopefully make students better informed and help them understand how the world works through the lens of economic and cultural shifts in the sports industry. Prerequisite: ECO 312 grade of C or better and MAT 118 grade of C- or better. Competency: Critical Thinking (CT), Quantitative Reasoning (QR).

ECO 307 Comparative Economic Systems 3 SH
Studies the theories of capitalism and socialism. Compares and evaluates a variety of economic systems with respect to the many factors which directly or indirectly affect economic behavior and outcomes. Alternate spring semesters. Prerequisite: ECO 211.

ECO 308 Labor Economics 3 SH
Analysis of the structure of employment and human resource theory. A study of the labor market operation, wage theory, collective bargaining and related private and public programs. Fall semester of odd-numbered years. Prerequisite: ECO 211 and ECO 213.

ECO 311 Money and Banking 3 SH
This course examines the role of money and the different types of financial institutions and their operation and effect on the economy. The role of the Federal Reserve System will be examined in detail. Prerequisite: ECO 211 and 213.

ECO/HIS 314 American Economic History 3 SH
This course examines the process of economic growth utilizing economic theory and historical discoveries. Also, it examines the process of economic growth in an advanced economy, the economic causation of problems of an advanced domestic economy, and the role of the United States in world affairs. Prerequisite: Junior standing.

ECO 315 Business Fluctuation and Forecasting 3 SH
This course examines business fluctuations and the application of forecasting methods using computer software to generate forecasts. Topics covered include linear regression, time series decomposition, moving averages and exponential smoothing, Box-Jenkins models, and methods of combining and evaluating forecasts. Emphasis is placed on the application of these techniques to produce economic forecasts. Prerequisite: ECO 211 and FIN 230 or MAT 120.

ECO 316 Fiscal Policy 3 SH
The role of the government in its use of fiscal policy to manage the economy. Examination of taxation, expenditure, and borrowing policies of the Federal government. Prerequisite: ECO 211 and 213.

ECO 317 Economic Development and Growth 3 SH
Examines the problems, policies and theories of economic development of the less developed countries of Africa, Asia and Latin America. Spring semester of even-numbered years. Prerequisite: ECO 211.

ECO 318 Intermediate Microeconomics 3 SH
Examines the manner in which producers, consumers and resource owners, acting through markets, determine the prices and output of goods, the allocation of resources and the distribution of income. Spring semester of even-numbered years. Prerequisite: ECO 213.

ECO 319 Intermediate Macroeconomics 3 SH
Examines aggregate economic analysis with particular attention to Keynesian, New Keynesian and new classical theories of the determination of national income, employment and prices. Fall semester of odd-numbered years. Prerequisite: ECO 211.

ECO 321 Urban Economics 3 SH
This course examines the economics of cities and urban problems. More specifically, a number of factors that have influenced the development of cities, such as technological innovations in production and transportation, are explored. In addition, urban problems including poverty, racial segregation, inadequate housing, inferior education and crime are studied and possible policy solutions considered. Spring semester of even-numbered years. Prerequisite: Sophomore standing.

ECO/WS 327 Economics of Gender 3 SH
This course will use economic methods to investigate the relationship between gender and economic outcomes, measured in terms of occupation, earnings, poverty rates and other standard measures of economic well-being. Topics will include the household as an economic unit, increasing labor force participation of women, consequences of female employment for the structure of the family, causes of earnings differences, trade policy effects on women, and race and class differences in economic opportunities for women. Contemporary United States gender differences and policy applications will be emphasized. A primary goal of the course is to enable students to understand the issues and to formulate coherent positions on the topic covered. Prerequisite: ECO 207 or ECO 211 or permission of instructor.

ECO 400 Theory of International Economics 3 SH
Examines international trade theory and policy, foreign exchange markets and the balance of payments. Also, international macroeconomic policy and the international debt problem of developing countries will be studied. Fall semester of odd numbered year.

ECO 404 Economics of Entrepreneurship and Industrial Organization 3 SH
This course will examine (a) the important roles of entrepreneurs as risk takers as they coordinate the other three (capital, labor, and natural resources – land) factors of production to maximize/minimize economic profits/losses, (b) the formation and implementation of commercializable new ideas inherent in new business ventures and existing industrial organizations, (c) the arduous tasks of building and sustaining a viable business organization based on creativity and innovation, (d) competitive strategies under different market structures based of fast-changing creative innovative products, and (e) new business models that have been developed in the current digital age and social media – sharing economy. Students will apply economic analysis and knowledge from various disciplines to understand how new businesses could be created that may differ from their traditional competitors in the modern economy. In addition, the course will examine different forms of business ownership in the United States and evaluate the impact of public policies on these business structures with respect to taxation, financing, and regulation as well as the challenges and opportunities available in the digital economy and social media. Prerequisite: junior or senior standing.

The following courses also have been approved and are offered periodically:
ECO/HIS 313 The Economic History of American Business
ECO 410 Monetary Theory and Policy

ECO/HIS 412 History of Economic Thought
ECO 450 Seminar in Economic Research