UNIVERSITY OF WISCONSIN OSHKOSH

ECONOMICS



Ralph Gunderson, Chairperson
Department Office: Swart 230
Department Telephone: 920-424-1441

Code 36 or ECON

I. FACULTY

Brannon, Burnett, Grunloh, Gunderson, Hussain, McGee, Mitchell, Robson, Van Scyoc.

II. DEGREES

Undergraduate: A major in Economics can lead to the degree(s): Bachelor of Arts; Bachelor of Science; Bachelor of Science in Education, or Bachelor of Business Administration.

Graduate: The Department does not offer a graduate program. However, students who complete a major in our Department may wish to consider advanced study at the University of Wisconsin Oshkosh in these programs: Master's of Business Administration, Master's of Public Administration.

For specifics, please see the University of Wisconsin Oshkosh Graduate Bulletin.

III. SUMMARY OF FIELDS OF STUDY

1. GOAL(S)
See the department for a listing of their goal(s).

2. THE MAJOR(S)
The Economics Department offers a choice of two emphases in the Bachelor of Science and Bachelor of Business Administration degree programs. These are the Quantitative Emphasis and the General Emphasis.

3. THE MINOR(S)
The Department offers one minor: 1) Economics.

Comment:
The program of study in Economics is designed to prepare students for any of a variety of careers in the fields of economics, business, government, and higher education. Also a Major in Economics provides excellent preparation for post-graduate study in Economics, Business, and Law.

The Department of Public Instruction will license secondary education teacher candidates to teach Economics when such candidates have completed a major or minor in Economics in addition to all requirements for the Professional Education Program and a major or minor in another subject area.

IV. ADMISSION/GRADUATION REQUIREMENTS

To be eligible for graduation, students must meet all requirements for the degree being sought in addition to earning a minimum grade point average of 2.00 in all courses required for the Economics major or minor. Refer to the following Sections V. and VI. for complete major/minor course requirements.

Those students seeking Wisconsin teacher certification must earn a minimum grade point average of 3.00 in all courses required for their majors and minors in order to meet the requirements of the College of Education and Human Services.

V. REQUIRED CORE COURSES

Economics
  • Economics 206 Principles of Economics I (Micro) 3 cr. OR
  • Economics 208 Honors: Principles of Economics I (Micro) 3 cr.
  • Economics 207 Principles of Economics II 3 cr. OR
  • Economics 209 Honors: Principles of Economics II (Macro) 3 cr.
  • Economics 210 Economics and Business Statistics 3 cr.
  • Economics 329 Intermediate Microeconomic Theory 3 cr.
  • Economics 331 Intermediate Macroeconomic Theory 3 cr.
Mathematics
  • Mathematics171 Calculus I 4 cr. OR both
  • Mathematics204 Mathematics for Business Analysis I 4 cr. AND
  • Mathematics206 Mathematics for Business Analysis II 4 cr.

VI. THE MAJOR(S), WITH EMPHASES AND/OR OPTIONS

1. QUANTITATIVE EMPHASIS IN THE BACHELOR OF SCIENCE OR BACHELOR OF ARTS DEGREE
This program is recommended for students who wish to undertake postgraduate study in Economics or to pursue any career which requires quantitative skills in economic analysis.

Required Units (crs.): 36 units (crs.) in Economics minimum, plus completion of the Mathematics requirement.

Required Courses: In addition to the Core Courses (15 units (crs.)):
  • Economics: one of the following (3 units (crs.)): Economics 471 or 473; at least two of the following (6 units (crs.)): Economics 305, 403, 409 or 420

Electives: The student must complete an additional 12 units (crs.) in Economics, at the 300 or 400 level, in addition to the required courses, to complete the major.

2. GENERAL EMPHASIS IN THE BACHELOR OF SCIENCE OR BACHELOR OF ARTS DEGREE
This program is recommended for students who seek a broad knowledge of the field of economics but do not need the technical training necessary for quantitative analysis.

Required Units (crs.): 30 units (crs.) in Economics minimum, plus completion of the Mathematics requirement.

Required Courses: In addition to the Core Courses (15 units (crs.)):
  • Economics: least two of the following (6 units (crs.)): Economics 305, 403, 409, 420.

Other Requirements: The student must complete a minor in an area related to his or her intellectual or career interest.

Electives: The student must complete an additional 9 units (crs.) in Economics, at the 300 or 400 level, in addition to the required courses, to complete the major.

3. BACHELOR OF BUSINESS ADMINISTRATION DEGREE
This degree program is offered in the Economics Department through the College of Business Administration. For admission to the Bachelor of Business Administration (BBA) degree program, please refer to the BBA section in the Bulletin.

Required Units (crs.): 48 minimum

Required Courses: In addition to the College of Business Pre-Core and Core Courses:
  • Economics: Economics 329, 331, 473, and at least 6 additional units (crs.) from Economics 305, 403, 409 and 420.

Electives: Sufficient to meet the Minimum Requirement including these courses:
  • Business/Economics: 6 upper division unit (cr.) hours

NOTE: To graduate, students must earn a minimum of 2.0 grade point average in upper level Business and Economics courses of record and in those courses required in the major area. Students must also meet all other requirements of College of Business Administration for graduation including the international dimension and the professional experience requirement.

VII. MINOR(S)

1. ECONOMICS MINOR
This program is recommended for students who are majoring in other fields such as Business, Political Science, etc. and who wish to enhance their major with a valuable related minor in Economics.

Required Units (crs.): 21 units (crs.) in Economics minimum, plus completion of the Mathematics Requirement.

Required Courses: The Core Courses (15 units (crs.) in Economics, plus Math courses)

Electives: The student must complete an additional 6 units (crs.) in Economics, at the 300 or 400 level, in addition to the core courses, to complete the minor.

Comments:
Education students pursuing an Economics Minor are required by their College to have 22 units (crs.) in Economics.

VIII. COURSE OFFERINGS

Economics 106 3 units (crs.)
General Economics (SS)
Analysis of some of the major current issues in the American economy undertaken after a historical survey of the emergence of modern economic institutions. Not open to students with either Economics 206, 207, 208 or 209.

Economics 206 3 units (crs.)
Principles of Economics I (Micro) (SS)
Features of the American economy; demand, supply and the price system; consumer theory, theory of the firm, market structure; distribution of income; environmental and energy problems; comparative economic systems. Prerequisite: Mathematics 104, 108, 204 or 171 with a grade of C or better, or qualification for enrollment in Mathematics 171 via Math Placement exam.

Economics 207 3 units (crs.)
Principles of Economics II (Macro) (SS)
Economic role of the government sector; government expenditures and taxation; national income analysis; economic fluctuations; money and banking; economic growth; international economics. Prerequisite: Economics 206 and Mathematics 104, 108, 204 or 171 with a grade of C or better, or qualification for enrollment in Mathematics 171 via Math Placement exam.

Economics 208 3 units (crs.)
Honors: Principles of Economics I (Micro) (SS)
Study of the system of production and distribution of goods and services in the American Economy. Topics include analysis of the operation of markets, consumer theory, production decisions, market structure, and the distribution of income. Emphasis is on study of economic policy and institutions. Prerequisite: Honors status and Mathematics 104, 108, 204 or 171 with a grade of C or better, or qualification for enrollment in Mathematics 171 via Math Placement exam.

Economics 209 3 units (crs.)
Honors: Principles of Economics II (Macro) (SS)
Analysis of the factors that influence the level of employment, the rate of inflation, and the rate of growth of Gross Net Profit. Topics include aggregate demand, aggregate supply, economic fluctuations, the role of money, fiscal and monetary policy, international trade, and productivity. Prerequisite: Honors status and Economics 206 or 208, Mathematics 104, 108, 204 or 171 with a grade of C or better, or qualification for enrollment in Mathematics 171 via Math Placement exam.

Economics 210 3 units (crs.)
Economic and Business Statistics
Descriptive methods; probability and inference; regression and correlation; index numbers; time series. Prerequisite: Mathematics 104, 108, 204 or 171 with a grade of C or better, or qualification for enrollment in Mathematics 171 via Math Placement exam.

Economics 305 3 units (crs.)
Money and Banking
Monetary systems and monetary policy; emphasis on the American banking system and the Federal Reserve System. Prerequisite: Economics 206 or 208 and Economics 207 or 209.

Economics 307 3 units (crs.)
Discrimination, Gender, and the Economy (ES)
Analysis of the experiences of women and ethnic minorities in the economy, extending the traditional interpretations of economic issues to the unique experiences of these groups. Economic tools will be developed, and then applied to such topics as Comparable Worth, Wage Determination, Occupational Choice and Segregation, Poverty, and the Criminal Justice System. Prerequisite: Economics 106, 206 or 208. Cross-listed: Economics 307/Women's Studies 307. Students may receive credit for only one of the two cross-listed courses.

Economics 309 3 units (crs.)
Marxian Economics
A survey of the economic writings of Karl Marx and some of the current literature influenced by Marx. Prerequisite: Junior standing and Economics 106, 206 or 208.

Economics 319 3 units (crs.)
Economics of Less Developed Countries (NW)
Economic and institutional conditions of less developed countries; ideas and performance records of promoting socio-economic development. Prerequisite: Economics 206 or 208 and Economics 207 or 209.

Economics 321 3 units (crs.)
Labor Economics
Analysis of the economy's labor resource. Major topics include labor markets, workforce programs, economic security arrangements, the labor movement, and collective bargaining. Prerequisite: Economics 206 or 208 and Economics 207 or 209. 321/521

Economics 329 3 units (crs.)
Intermediate Microeconomic Theory
Theory of demand; pricing and output; allocation of resources; income distribution. Prerequisite: Mathematics 171 or both Mathematics 204 and 206, and a grade of C or better in both Economics 206 or 208 and Economics 207 or 209.

Economics 331 3 units (crs.)
Intermediate Macroeconomic Theory
Fundamentals of national income and product accounting; theory of the determination of income, output, employment, interest rate and price level; survey of economic growth models; application of fiscal and monetary policy. Prerequisite: Mathematics 171 or both Mathematics 204 and 206, and a grade of C or better in both Economics 206 or 208 and Economics 207 or 209.

Economics 339 3 units (crs.)
Urban and Regional Economics and Policy
Location theory of economic activities; economics of urban sites and regions; analysis of urban-regional problems and policies. Prerequisite: Economics 206 or 208 and Economics 207 or 209. 339/539

Economics 355 3 units (crs.)
Natural Resource Economics
An application of microeconomic principles to optimum use of land, water, energy, and other more specific resources. Alternative public policies are evaluated for the solution of resource allocation problems. Prerequisite: Economics 206 or 208 and Economics 207 or 209.

Economics 356 3 units (crs.)
Economics of Food Production
Trends in agricultural production and prices; nature of agricultural markets and the implications for current and future food supply problems in the United States and the world. Prerequisite: Economics 206 or 208 and Economics 207 or 209.

Economics 360 3 units (crs.)
Environmental Economics and Policy
A study of environmental problems and their causes in a free market context. Economic policy alternatives are evaluated for solving pollution and other environmental problems. Prerequisite: Economics 206 or 208 and Economics 207 or 209.

Economics 363 3 units (crs.)
Growth and Development of the U.S. Economy
Development of the United States economy, from its English origins to present time. Prerequisite: Economics 206 or 208 and Economics 207 or 209.

Economics 368 3 units (crs.)
Health Care Economics
A study of the economic structure of the health care industry and health care problems in the United States. Emphasis on the delivery and pricing of health care as well as alternative public policies dealing with cost and distribution problems. Prerequisite: Economics 206 or 208. 368/568

Economics 380 1-6 units (crs.)
Internship in Economics
A combination of individually guided study in economics and applied economic analysis in an internship experience. Prerequisite: Application and consent of department chair.

Economics 390 3 units (crs.)
Transportation Economics
Analysis of organizational structures, operational characteristics, and managerial policies of railroads, motor carriers, domestic barge lines, airlines, and pipe lines. Emphasis on rates, services and public regulation. Prerequisite: Economics 206, 207, 208 or 209 with a grade of C or better.

Economics 399 3 units (crs.)
Special Topics in Economics
The study of a current topic of Economic interest, not normally covered in our curriculum. Course details will be available in the department office.

Economics 403 3 units (crs.)
Public Sector Economics
Economics of federal, state and local governments; analysis of the effects of expenditures, taxes and subsidies; intergovernmental fiscal relations; efficiency and decision making in the public sector. Prerequisite: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better. 403/603

Economics 409 3 units (crs.)
History of Economic Thought
Development of economic ideas from early mercantilistic thought through the twentieth century. Prerequisite: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better.

Economics 420 3 units (crs.)
International Finance and Trade
Discussion of the international monetary system includes the balance of payments, exchange markets and the domestic monetary policy implications of an open economy. The international trade portion presents the theory of free trade, impact of trade barriers and international trade organization. Prerequisite: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better.

Economics 421 3 units (crs.)
Honors: International Finance and Trade
Analysis of international trade, including the theory of free trade, the impact of trade barriers, and international organizations. Analysis of international finance system, including the balance of payments, exchange markets, and macroeconomic policy in an open economy. Prerequisite: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better. In addition, students are expected to be familiar with high school algebra and geometry because graphical analysis is very important in presenting and understanding the subject matter involved.

Economics 430 3 units (crs.)
Human Resource Economics
The study of workforce as a basic economic resource; labor market analysis, labor mobility, causes of unemployment and proposed solutions, workforce development, wage and employment theories. Prerequisite: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better. Strongly recommended: Economics 321. 430/630

Economics 433 3 units (crs.)
Managerial Economics
This course draws heavily on marginal economic analysis, quantitative optimization techniques, and statistical procedures to help management achieve established objectives. Management objectives are studied in a framework of short run profit maximization as well as in a long run framework. This long run theory of behavior encompasses a time dimension where the primary goal of a manager becomes wealth maximization rather than short run profit maximization. Finally, an important element in the class is the relationship between the firm and society. Managerial Economics clarifies the role firms play in society and identifies means of increasing their benefits to society. Prerequisite: Economics 206 or 208 and Economics 210.

Economics 436 3 units (crs.)
Comparative Economic Systems
An evaluation of existing and experimental economic systems in Europe, United States of America, transition economics, China and the Third World for their potential to meet anticipated future economic problems. Prerequisite: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better.

Economics 446 1-3 units (crs.)
Independent Study
See Independent Study under Course and Academic Advisement Policies information for general course description, general prerequisites, and proper contract form requirements. Prerequisite: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better and completion of required courses for a major or minor in economics and consent of department chair.

Economics 456 1-3 units (crs.)
Related Readings
See Related Readings under Course and Academic Advisement Policies information for general course description, general prerequisites, and proper contract form requirements. Prerequisite: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better and consent of department chair.

Economics 466 3 units (crs.)
Government and Business
Regulatory and promotional policies and programs of the Federal Government affecting the operation of the market system. Prerequisite: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better.

Economics 471 3 units (crs.)
Introduction to Mathematical Economics
The application of mathematical tools to economics with emphasis on the description and use of the tools; mathematical models of decision making and optimization. Prerequisite: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better. 471/671

Economics 473 3 units (crs.)
Econometric Methods
An introduction to the statistical regression techniques widely used by researchers in Economics and Business Finance. Single and multiple regressing of time-series and cross sectional data. Prerequisite: Economics 206 or 208 and Economics 207 or 209 and Economics 210 with grade of C or better. 473/673

Economics 474 1-6 units (crs.)
Honors: Thesis
Honors thesis projects include any advanced independent endeavor in the student's major field of study e.g. a written thesis, scientific experiment or research project, or creative arts exhibit or production. Proposals (attached to Independent Study contract) must show clear promise of honors level work and be approved by a faculty sponsor. Course title for transcript will be 'Honors Thesis.' Completed projects will be announced and presented to interested students and faculty. Prerequisite: University Honors status and junior standing. Economics 206 or 208 and Economics 207 or 209 with a grade of C or better. Maximum of 6 units (crs.).

Economics 499 3 units (crs.)
Senior Seminar in Economics
A seminar in applied economics which focuses on selected current economic problems. Prerequisite: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better, Economics 329 and 331.
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Last Updated July 1, 2001