Economics

Major in economics: 27 semester hours, including ECON 237, 374, 375, 431, 430 or 439, and 12 additional upper division hours. ECON 430 and 439 requirement will be waived if a student participates in the Washington Semester program.
Supporting courses for economics major: 24 semester hours, including MATH 136 or 231, STAT 374-375, six hours of upper division political science, and nine hours from: business administration, philosophy, modern languages, ID 131, mathematics beyond 231, and the social sciences.

Major in business administration (economics specialization): Students interested in receiving a B.B.A. degree in business administration (economics specialization) should see Business Administration.

Minor in economics: 18 hours, including ECON 237, 374, 375, 431, plus six additional hours of economics at the 300 or 400 level.

ECONOMICS

ECON 233. Economics of Personal Finance (3:3:0)
Practical concepts and applications for managing personal finances including financial planning and record keeping, budgeting, banking and credit, personal taxes, major expenditures, savings, insurance, investments and estate planning. (May not be used by business majors to fulfill three hours of BA/ECON/CSCI elective.)

ECON 237. Principles of Economics (3:3:0)
Analysis of fundamental concepts of micro- and macroeconomics, including: markets and market failure, government regulation, firm behavior, measurement of output and inflation, long-run growth, money and inflation, and short-run fluctuations. Prerequisite: MATH 133 or equivalent, with a grade of “C” or better.

ECON 332. Public Finance (3:3:0)
Analysis of the economics of the public sector with emphasis on institutions and principles and problems of taxation, public expenditures and debt management. Prerequisite: ECON 237 or POLS 232.

ECON 333. American Economic History (3:3:0)
An examination of the history of the United States from independence to the 1970s using economic theory to interpret historical events. Topics include the economic implications of the Constitution, the economics and ethics of slavery, the economic origins of the “Wizard of Oz,” and the causes and consequences of the Great Depression. (Also offered as HIST 379-Special Topics.) Prerequisite: ECON 237 or the consent of instructor.

ECON 337. Development of Economic Thought (3:3:0)
A study of the development of economics. Individual theorists and schools of thought are examined in their historical setting, emphasizing their influence upon the development of economic thought and national policies. Prerequisite: six hours of economics.

ECON 339. Growth and Development (3:3:0)
A consideration of the historical sources and effects of technological change in today’s industrialized countries and of the role played by government policy, law and culture in this process. An examination of conditions in today’s developing countries and of the process by which they have succeeded or failed to close the economic gap between themselves and the industrialized countries. Population growth and environmental sustainability are also examined. Prerequisite: ECON 237.

ECON 373. Money, Banking and Financial Markets (3:3:0)
Study of the U.S. monetary system with emphasis on the commercial banking system, the operation and policies of the Federal Reserve System, monetary theory, and the operation of financial markets. Prerequisite: ECON 237.

ECON 374. Intermediate Microeconomics (3:3:0)
Study of consumer and business behavior, and of markets, including: demand theory, cost theory, market types, game theory and time and uncertainty. Prerequisites: ECON 237, MATH 136 or 231.

ECON 375. Intermediate Macroeconomics (3:3:0)
Study of principal theories of income determination in both the short and long run and analysis of fiscal and monetary policy impacts on prices and output. Prerequisites: ECON 237, MATH 136 or 231.

ECON 379. Special Topic (3:3:0)
Designed for students majoring in economics or upper division students in the social sciences. May be repeated for credit when topics change. Topics include: Institutional Economics, Law and Economics, Agricultural Economics. Prerequisite: six hours of economics or consent of instructor.

ECON 410, 420, 430. Independent Study (X:X:X)
An opportunity for students majoring in economics to pursue independent research projects. Prerequisite: 15 hours of economics and approval of instructor.

ECON 419, 429, 439. Internship (X:X:X)
Designed to provide economics majors with opportunities to work in government agencies, financial institutions, and business or research firms engaged in economic analysis or forecasting. A study component must also be agreed on. Summer internships are encouraged. No more than three hours may be counted towards the major. Must have departmental approval.

ECON 431. International Economics and Finance (3:3:0)
An introduction to the theory of international trade and finance with emphasis on contemporary applications. Commercial policy issues confronting the U.S. are considered, as are exchange rates and international capital flows. Prerequisites: ECON 374 or 375.

ECON 440. Washington Semester Economic Policy Research Project (4:0:0)
Supervised, individual research on the relationship between government and the economy. Designed in consultation between Texas Lutheran and American University advisors, focusing on the Washington location permitting personal interviews and direct methods of research. Required as part of the Washington Semester Economic Policy program.

ECON 441. Washington Semester Economic Policy Seminar I (4:2:2)
Analysis of economic issues and applied economic theories through readings, papers, and, most importantly, on-site discussions with economic policy decision makers in government and from business and labor, as well as from research organizations and members of the press who write on economic issues. Prerequisite: ECON 237, and approval of Texas Lutheran’s Washington Semester Committee.

ECON 442. Washington Semester Economic Policy Seminar II (4:2:2)
Continuation of ECON 441.

ECON 449. Washington Semester Economic Policy Internship (4:0:8)
Under American University supervision, students gain hands-on experience in some phase of the economic policy process, such as with a legislative or executive branch office or organization, a private or public interest group, or a research organization. Academic and office supervisors’ evaluations determine grade and credit earned. Part of Washington Semester program.

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