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Economics

Information

Information

M. Kevin McGee, Department Chair

Department Office: Sage Hall 2418
Department Telephone: (920) 424-7155

Code 36 or ECON

Faculty

Faculty

See the College of Business.

 

Degrees

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.

Summary of Fields of Study

Summary of Fields of Study

  1. Goal(s)
    • See the College of Business for a listing of their goal(s).
  2. The Major(s)
    • The Economics Department offers a choice of three emphases in the Bachelor of Science and Bachelor of Arts degree programs. These are the Quantitative Emphasis, International Emphasis and the General Emphasis. The College of Business also offers an Economics Major.
  3. The Minor(s)
    • The Economics Department offers one minor: 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.

Admission/Graduation Requirements

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 2.25 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.

Required Core Courses

Required Core Courses

Economics

  • Economics 204 Principles of Macroeconomics 3 cr. OR
  • Economics 209 Honors: Principles of Macroeconomics (Macro) 3 cr.
  • Economics 206 Principles of Microeconomics 3 cr. OR
  • Economics 208 Honors: Principles of Microeconomics (Micro) 3 cr.
  • Economics 210 Economic and Business Statistics 3 cr.
  • Economics 329 Intermediate Microeconomic Theory 3 cr.
  • Economics 331 Intermediate Macroeconomic Theory 3 cr.

Mathematics

  • Mathematics 171 Calculus I 4 cr. OR BOTH
  • Mathematics 204 Mathematics for Business Analysis I 4 cr. AND
  • Mathematics 206 Mathematics for Business Analysis II 4 cr.

The Major(s), with Emphases and/or Options

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:
      • Requirement Aone of the following (3 units (crs.)): Economics 472 or 473;
      • Requirement B: one of the following (3 units (crs.)): Economics 433, 460, 471, 472 or 473 (if not taken to satisfy requirement A);
      • Requirement C: two of the following (6 units (crs.)): Economics 305, 403, 420, 460 (if not taken to satisfy requirement B).
  • Electives: The student must complete an additional nine credits 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.): 33 units (crs.) in Economics minimum, plus completion of the Mathematics requirement.
  • Required Courses: In addition to the Core Courses (15 units (crs.)):
    • Economics: At 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 12 units (crs.) in Economics, at the 300 or 400 level, in addition to the required courses, to complete the major.

3. International Emphasis

This program is recommended for students who seek an International Emphasis for the Economics Major in the Bachelor of Science and Bachelor of Arts degrees.

  • Required Units (crs.): 36 units (crs.) in Economics minimum, plus completion of the Mathematics requirement.
  • Required Courses: In addition to the Core Courses
    • Economics: Economics 420 or 421.
  • Electives: In addition students must complete two of the following options:
      A) Economics 319
      B) Economics 410
      C) Economics 426
      D) Economics 427
      E) Economics 428F) Economics 436
      G) an approved International Experience, usually arranged by the Office of International Education at UW Oshkosh.
  • Other Requirements: The student must complete at least three units (crs.) in Economics 305, 403 or 409.
  • Other Requirements: The students must complete an additional nine units (crs.) in Economics, at the 300 or 400 level, in addition to the required courses, to complete the major.

The Minor(s)

The Minor(s)

Course Offering(s)

Course Offering(s)

Economics   106                                           3 (crs.)

General Economics (SS) (XS)

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   110                                           3 (crs.)

Economics in Wisconsin (SS) (XS)

This course introduces students to the fundamental concepts in both micro and macroeconomics. Students then apply those concepts to explain economic current events and policies affecting Wisconsinites and the state of Wisconsin and discuss logical ideas for improving economic well-being.

 

 

Economics   204                                           3 (crs.)

Principles of Macroeconomics (SS) (XS)

Economic role of the government sector; government expenditures and taxation; national income analysis; economic fluctuations; money and banking; economic growth; international economics. Prerequisite: Completion of a PBIS course, or concurrent enrollment in (or completion of) Math 104, 106, 108, or 204, or qualified to enroll in Math 171 via UW Placement Exam. Not open to students who have completed Economics 319-499.

 

 

Economics   206                                           3 (crs.)

Principles of Microeconomics (SS) (XS)

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: Math 104, 108, 204, 206 or 171 with a grade of C or better or qualified to enroll in Math 171 via UW Placement Exam. Not open to students who have completed Economics 319-499.

 

 

Economics   208                                           3 (crs.)

Honors: Principles of Microeconomics (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 Math 104, 108, 204, or 171 with a grade of C or better or qualified to enroll in Math 171 via UW Placement Exam. Not open to students who have completed Economics 319-499.

 

 

Economics   209                                           3 (crs.)

Honors: Principles of Macroeconomics  (SS)

Analysis of the factors that influence the level of employment, the rate of inflation and the rate of growth of Gross Domestic Product. Topics include aggregate demand, aggregate supply, economic fluctuations, the role of money, fiscal and monetary policy, international trade and productivity. Prerequisite: Honors status; and completion of a PBIS course, or concurrent enrollment in (or completion of) Math 104, 108, 204, or qualified to enroll in Math 171 via UW Placement Exam. Not open to students who have completed Economics 319-499.

 

 

Economics   210                                           3 (crs.)

Economic and Business Statistics (XM) (MA)

Descriptive methods; probability and inference; regression and correlation. Prerequisite: Mathematics 204 or 206 or 171 with a grade of C or better, or qualification for enrollment in Mathematics 171 via Math Placement exam. Not open to students who have completed Economics 472 or 473. Enrollment may be restricted to Economics and Business/Pre-Business majors.

 

 

Economics   305                                           3 (crs.)

Money and Banking (SS)

Monetary systems and monetary policy; emphasis on the American banking system and the Federal Reserve System.  Prerequisite: Economics 204 or 209 and Economics 206 or 208, with an average grade of C or better.

 

 

Economics   307                                           3 (crs.)

Discrimination, Gender, and the Economy

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. Cross-listed: Economics 307/Women's Studies/Social Justice 307. Students may receive credit for only one of the three cross-listed courses. Prerequisite: Economics 106, 204, 206, 208 or 209.

 

 

Economics   319                                           3 (crs.)

Economics of Less Developed Countries (NW) (SS)

Economic and institutional conditions of less developed countries; ideas and performance records of promoting socio-economic development. Prerequisite: Economics 204 or 209 and Economics 206 or 208, with an average grade of C or better.

 

 

Economics   321                                           3 (crs.)

Labor Economics (SS)

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 204 or 209 and Economics 206 or 208, with an average grade of C or better. 321/521

 

 

Economics   329                                           3 (crs.)

Intermediate Microeconomic Theory (SS)

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 Economics 204 or 209 and Economics 206 or 208.

 

 

Economics   331                                           3 (crs.)

Intermediate Macroeconomic Theory (SS)

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 Mathematics 204 and 206, and a grade of C or better in Economics 204 or 209 and Economics 206 or 208.

 

 

Economics   339                                           3 (crs.)

Urban and Regional Economics and Policy (SS)

Location theory of economic activities; economics of urban sites and regions; analysis of urban-regional problems and policies. Prerequisite: Economics 204 or 209 and Economics 206 or 208, with an average grade of C or better. 339/539

 

 

Economics   340                                           3 (crs.)

Economics of Sports (SS)

The purpose of this class is to familiarize students with basic economic concepts as they pertain to the economics of sports. Students will explore selected aspects of the sports business and be able to evaluate analytical arguments based on economic models as they pertain to sports issues.  An emphasis will be placed on such topics as demand, cost, franchising, stadium attendance/finance and labor markets. Prerequisite: Economics 204 or 209 and Economics 206 or 208, with an average grade of C or better.

 

 

Economics   360                                           3 (crs.)

Environmental Economics and Policy (SS)

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 204 or 209 and Economics 206 or 208, with an average grade of C or better.

 

 

Economics   363                                           3 (crs.)

Growth and Development of the U.S. Economy (SS)

Development of the United States economy, from its English origins to present time. Prerequisite: Economics 204 or 209 and Economics 206 or 208, with an average grade of C or better.

 

 

Economics   368                                           3 (crs.)

Health Care Economics (SS)

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 204 or 209 and Economics 206 or 208, with an average grade of C or better.  368/568

 

 

Economics   380                                           1-6 (crs.)

Internship in Economics (SS)

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 (crs.)

Transportation Economics (SS)

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 204 or 209 and Economics 206 or 208, with an average grade of C or better.

 

 

Economics   399                                           3 (crs.)

Special Topics in Economics (SS)

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 (crs.)

Public Sector Economics (SS)

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 204 or 209 and Economics 206 or 208, with an average grade of C or better. 403/603

 

 

Economics   409                                           3 (crs.)

History of Economic Thought (SS)

Development of economic ideas from early mercantilistic thought through the twentieth century.  Prerequisite: Economics 204 or 209 and Economics 206 or 208, with an average grade of C or better.

 

 

Economics   410                                           3 (crs.)

International Capital Markets (SS)

This course analyzes the economic issues and impacts of capital movements among nations. These issues include: open macroeconomic theory and policy, capital account imbalances, financial crises, exchange rate volatility, foreign direct investment, capital controls, monetary standards, emerging country impacts of capital mobility, monetary unions and international regulatory regimes.  Prerequisites:  Economics 204 or 209 and Economics 206 or 208, with an average grade of C or better.

 

 

Economics   420                                           3 (crs.)

International Trade and Finance (SS)

Analysis of international trade, including the theory of free trade, the impact of trade barriers, and international trade organizations. Analysis of the international finance system, including the balance of payments, exchange markets and exchange rate determination. Prerequisites: Economics 206 or 208 and Economics 204 or 209 with a grade of C or better.

 

 

Economics   421                                           3 (crs.)

Honors: International Trade and Finance (SS)

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 204 or 209 and Economics 206 or 208 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   426                                           3 (crs.)

Economics of Latin America (SS)

This course analyzes the economic issues surrounding the economic policies and economic development of Latin American countries. We will examine the persistent barriers to economic development in Latin America, as well as the occasional success stories. Economic principles will be used to understand the root balance of payments difficulties, exchange rate and debt crises, hyperinflation, dollarization and geographical and income inequalities throughout the region. Also, the course will evaluate Latin American development policies ranging from the import-substituting industrialization policies of the 1950's to 1970's to the market-oriented reforms of the 1980's to the present. Aid policies and international monetary institution advice and plans will be examined. Prerequisite:  Economics 206 or 208 and Economics 204 or 209 with a grade of C or better.

 

 

Economics   427                                           3 (crs.)

Economic & Social Development of Great Britain

This course analyzes the economic issues surrounding the economic and social development of Great Britain, focusing mainly on the areas England and Scotland. We will examine the historic perspectives of development and how those processes still affect current day economic life in the region. Our analysis will intertwine the history of both the social and economic, using economic principles to understand the current standard of living. We will begin our study with the ancient peoples of the area, from earliest times through the Roman occupation, the middle ages, the industrial revolution and onward to the modern day. Prerequisites: Economics 206 or 208 and Economics 207 or 209 with a grade of C or better.

 

 

Economics   428                                           3 (crs.)

Economics of European Integration & Growth

This course covers the evolution of modern economic growth and development in Europe, emphasizing institutional change. Topics will be chosen to illustrate how theoretical frameworks are essential for understanding and evaluating both the past and the past's connections to the present and future. Prerequisites: Economics 206 or 208 and Economics 204 or 209 with a grade of C or better.

 

 

Economics   433                                           3 (crs.)

Managerial Economics (SS)

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 204 or 209 and Economics 206 or 208; and Economics 210 or Math 301 with a grade of C or better in each class.

 

 

Economics   436                                           3 (crs.)

Comparative Economic Systems (SS)

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 204 or 209 with a grade of C or better.

 

 

Economics   437                                           1 (crs.)

Applied Monetary Policy and Practice

Students will learn how to forecast macroeconomic conditions. In doing so, students will examine how consumer and business practices affect, and are in turn affected by, the current conditions and outlook for the U.S. economy. Basic statistical skills necessary to forecast macroeconomic conditions will be taught. Students will analyze how the government's monetary policy practices and government decision-making is based on such macroeconomic forecasts. As a team, the students will present a recommended macroeconomic policy to a board of economists at the Chicago Federal Reserve Bank. Prerequisites: Economics 204 or 209 and Economics 206 or 208; and Economics 305 or 331 and Economics 210 or Math 301 with a grade of C or better in each class or instructor consent.

 

 

Economics   446                                           1-3 (crs.)

Independent Study (SS)

See Independent Study under Course and Academic Advisement Policies information for general course description, general prerequisites, and proper contract form requirements. Prerequisite: Economics 204 or 209 and Economics 206 or 208 with a grade of C or better and consent of department chair.

 

 

Economics   456                                           1-3 (crs.)

Related Readings (SS)

See Related Readings under Course and Academic Advisement Policies information for general course description, general prerequisites, and proper contract form requirements. Prerequisite: Economics 204 or 209 and Economics 206 or 208 with a grade of C or better and consent of department chair.

 

 

Economics   460                                           3 (crs.)

Natural Resource Economics (SS)

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 204 or 209 and Economics 206 or 208, with an average grade of C or better, and completion of the mathematics requirement for economics majors.

 

 

Economics   466                                           3 (crs.)

Industrial Organization (SS)

Regulatory and promotional policies and programs of the Federal Government affecting the operation of the market system. Prerequisite: Economics 206 or 208 and Economics 204 or 209 with a grade of C or better.

 

 

Economics   471                                           3 (crs.)

Introduction to Mathematical Economics (SS)

The application of mathematical tools to economics with emphasis on the description and use of the tools; mathematical models of decision making and optimization. Prerequisites: Economics 204 or 209 and Economics 206 or 208, and Economics 329 and 331, with a grade of B or better in each class, and completion of the mathematics requirement for economics majors and permission of instructor. 471/671

 

 

Economics   472                                           3 (crs.)

Time Series Analysis and Forecasting

This class introduces a variety of methods to analyze time-series data and generate statistical forecasts. Analytical techniques such as seasonal and weighted averaging, exponential smoothing and auto-regressive moving averages will be studied. Students will work with computer software applications of real world economic and business problems to aid in development of decision-making skills. Prerequisites: Economics 210 or Math 301, with a grade of C or better.

 

 

Economics   473                                           3 (crs.)

Econometric Methods (SS)

An introduction to the statistical regression techniques widely used by researchers in Economics and Business Finance. Single and multiple regression of time-series and cross sectional data. Prerequisite: Economics 204 or 209 and Economics 206 or 208; and Economics 210 or Math 301 with a grade of C or better in each class.  473/673

 

 

Economics   474                                           1-6 (crs.)

Honors: Honors Thesis (SS)

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 204 or 209 with a grade of C or better. Maximum of six units (crs.).

 

 

Economics   499                                           3 (crs.)

Senior Seminar in Economics (SS)

A seminar in applied economics which focuses on selected current economic problems. Prerequisite: Economics 204 or 209 and Economics 206 or 208 with a grade of C or better, Economics 329 and Economics 331 and a declared major in Economics.

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