Undergraduate Catalog
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ECON

(ECON) ECONOMICS
William Smith, Ph.D., Chair
Room 400, FCBE Administration Building
http://economics.memphis.edu/

Students must have earned a minimum of 45 credit hours and have met specific course prerequisites with a minimum grade of ā€œCā€ to be eligible for all 3000 and 4000 level courses. In addition to these requirements, students seeking a degree in the Fogelman College of Business and Economics must have (1) completed all required lower division business courses with a minimum grade of ā€œCā€ in each; (2) minimum of 2.25 GPA (2.5 for accounting majors) in all required lower division business courses and MATH 1830, 1421, or 1910, and (3) 45 hours of course work including MATH 1830, 1421, or 1910, COMM 2381 and 9 hours of English (See B.B.A. Degree Requirements-General Requirements).

A surcharge of $30 per credit hour for 3000 and 4000 level courses and $30 per credit hours for 6000-9000 level courses has been approved by the Tennessee Board of Regents. The purpose of the surcharge on these business courses is to guarantee the continuous improvement of the college and compliance with the standards of the Association to Advance Collegiate Schools of Business International (AACSB International).

In addition to the courses below, the department may offer the following Special Topics courses:

ECON 3020-29. Special Topics in Economics. (3). Current economic issues and problems in the United States; emphasis on application of tools and analytical methods. PREREQUISITE: ECON 2010, 2020.

ECON 4760-69. Special Topics in Economics. (1-3). Topics are varied and in online class listings. May be repeated with a change in topic. PREREQUISITE: permission of department chair.


ECON 2010 - Intro to Macroeconomics (3)
(2110). Nature and functions of the national economy in a global context. Includes consumption and investment behavior, national income and product determination, fiscal and monetary policy, and international trade. [G]

ECON 2020 - Intro to Microeconomics (3)
(2120). Operation of the market economy at the individual and firm level; supply and demand analysis, consumer behavior, behavior of firms in both competitive and monopoly environments, income distribution theory, and effects of government intervention in the market economy. [G]

ECON 3123 - Economics of Sport (3)
Tools and concepts of microeconomics to the sport world; individual, team and league behavior with the context of economic theory; player salaries, profit maximization, stadium financing, college athletics. PREREQUISITE: ECON 2010.

ECON 3210 - Labor Economics (3)
Introduction to institutional aspects of American labor force and its organization wage and employment theory, economic role of collective bargaining, and basic ingredients of public policy toward labor organization. PREREQUISITE: ECON 2020.

ECON 3310 - Microeconomic Theory (3)
Intermediate approach to price theory; stress on market mechanism as device for resource allocation; attention to uses of basic microeconomic concepts in analysis of economic problems and in formulation of policy. PREREQUISITE: ECON 2020.

ECON 3320 - Macroeconomic Theory (3)
Intermediate approach to social income accounting and to functional relationships between important aggregate economic variables as well as to forecasting and social policy implications. PREREQUISITE: ECON 2010.

ECON 3411 - Economics of Social Issues (3)
Applications of economic theory and analysis to current social problems, and evaluation of current and potential policy solutions to social issues.

ECON 3580 - Intnl Economic Dvlp/Ecol Persp (3)
Process of economic development as adaptive interplay between man's needs and ways in which environment is exploited to satisfy those needs in both developed and less developed countries. PREREQUISITE: ECON 2010, or permission of instructor.

ECON 3610 - Money and Banking (3)
Monetary and banking history of leading countries with special emphasis on theory of money and banking in United States, deposit and earnings operations of individual banks, interbank and central bank relations. PREREQUISITE: ECON 2010.

ECON 4112 - Organizational Econ (3)
Analysis of markets and organizations, competitive advantage, production and cost, consumer and market demand, strategic management decision-making, decision rights, incentives and rewards, and structure of performance systems. PREREQUISITE: ECON 2020.

ECON 4120 - Economic Forecasting (3)
Current economic thinking on problems of recession and inflation as background to economic forecasting; methodologies of forecasting analyzed with examples of each. PREREQUISITE: SCMS 3711, or equivalent.

ECON 4130 - Governmnt Regulation of Bus (3)
Approaches to legal and legislative control of business, especially tax laws, commission regulations, and antimonopoly legislation, in view of impact of each on industrial operating policy. PREREQUISITE: ECON 2020.

ECON 4210 - Public Economics (3)
Govenment taxation and spending programs and effect on markets; production and provision of public goods; externalities, Medicare, Medicaid, Social Security; behavior in output and input markets; theory of optimal taxation. PREREQUISITE: ECON 2020 with a grade of "C" or better.

ECON 4220 - Urban/Regional Economics (3)
Examines issues relevant to cities, including the reasons why cities exist, how economic activity is organized within cities; transportation, poverty, crime, development, public finance. PREREQUISITE: ECON 2020.

ECON 4230 - Economics of Ecology (3)
Examines the market system of resource allocation in the larger context of the natural world and ecological system. PREREQUISITE: ECON 2020.

ECON 4240 - Economics of Vice (3)
Applications of economic theory and analysis of topics such as crime, dating, sex, drugs, addiction, and music; evaluation of current and potential policies related to these issues. PREREQUISITE: ECON 2020.

ECON 4340 - Comparative Economic Systems (3)
Factors contributing to differential performance of economic systems, including property rights, information flow, incentive structure, management-labor relations, government policies on technology and competitiveness; emerging trends of system convergence and corporate globalization. PREREQUISITE: ECON 2020.

ECON 4350 - International Econ (3)
Historical approach to theory of international trade; consideration given to Classical, Neo-Classical and Modern approach to trade theory with emphasis on policy implications of the analysis. PREREQUISITE: ECON 2020 or equivalent.

ECON 4351 - Intrntl Monetary Theory/Pol (3)
Open economy macroeconomics; examination of payments among nations, foreign exchange markets, determinants of exchange rate policies; national income and foreign exchange, internal and external balance and international factor movements. PREREQUISITE: ECON 2010.

ECON 4410 - Development Econ Thought (3)
Historical development of economic thought; attention primarily on emergence of Classical and Neoclassical thought, several dissident schools of thought, and twentieth century economic thought. PREREQUISITE: ECON 2010.

ECON 4550 - Game Theory/Strategic Analysis (3)
Study of strategic behavior when parties have opposed, mixed, or similar interest; sequential and simultaneous move games, pure mixed strategies, various equilibrium concepts, and repeated games. PREREQUISITE: ECON 2020.

ECON 4561 - Economics of Financial Crisis (3)
Causes that precipitated the financial crisis of 2008 and the ensuing Great Recession; historical precedent for the crisis.

ECON 4620 - Mathematical Economics (3)
Introduction to way in which basic mathematical tools are used by economists; applications to consumer theory, production theory, market structures, macroeconomic theory. PREREQUISITE: ECON 2010, 3310, and one semester of calculus, or permission of instructor.

ECON 4740 - Health Care Economics (3)
Unique nature of health care as economic good, health care market and its participants including patients, physicians, and hospitals, and financing and delivery of personal health care in United States and other countries.

ECON 4760 - Economic Growth/Inequality (3)
Sources of growth and inequality, both across and within countries; joint evolution of economic prosperity and inequality as economies develop; special emphasis to the roles of physical and human capital, technological progress, institutions.

ECON 4764 - Behavioral Economics (3)
Reconcile standard economic models with key observations from psycholoogy in order to predict and understand phenomena such as loss aversion, altruism, trust, reciprocity, procrastination, and self-control.

ECON 4768 - Law and Economics (3)
Economic ideas to understand the behavioral consequences of changes in legal rules; legal rules to determine the extent to which they meet the social goal of efficiency, an application of welfare economics; aspects of common law, criminal law, and constitutional law.

ECON 4810 - Quant Economics Analysis (3)
Introduction to application of mathematical tools in business and economics; review of matrix algebra, differential and integral calculus; optimization with and without constraints; comparative statistics.

ECON 4820 - Econometrics (3)
Introduction to statistical procedures used to estimate and test quantitative economic theories, using microcomputer software for regression analysis. PREREQUISITE: SCMS 2710 or MATH 1530 or equivalent as approved by instructor.

ECON 4910 - Problems in Economics (1-3)
Students investigate issues surrounding selected economic problems and develop reports of that investigation. May be repeated to maximum of 3 hours credit. PREREQUISITE: upper division standing and approval of department chair.

ECON 4911 - Internship in Economics (1-6)
Internship in business organization to gain on-the-job experience. Project to be approved and supervised by departmental faculty. Credit allowed only after acceptance of report. PREREQUISITE: 2.75 overall GPA and completed 15 hours in Upper Division core.

ECON 4920 - Senior Seminar in Economics (3)
Coordinated by area coordinator and conducted by selected members of area; integrate several fields and course areas pursued by undergraduate majors into meaningful whole.

ECON 4996 - Honors Thesis in Economics (3)
Independent research open only to students enrolled in Economics Honors Program. Honors thesis supervised by three-faculty committee selected by student and approved by Economics Honors Committee. PREREQUISITE: permission of Economics Honors Committee.

Course Descriptions

College of Arts and Sciences

Aerospace Studies (AERO)
African and African American Studies (AAAS)
Anthropology (ANTH)
Biology (BIOL)
Chemistry (CHEM)
Computer Science (COMP)
Criminology and Criminal Justice (CJUS)
Earth Sciences (ESCI)
English (ENGL)
Emergency Management (EMGT)
Environmental Studies (ENVR)
Health Administration (HADM)
History (HIST)
International Studies (INTL)
Judaic Studies (JDST)
Mathematics (MATH)
Military Science (ARMY)
Naval Science (NAVY)
Philosophy (PHIL)
Physics (PHYS)
Political Science (POLS)
Public and Nonprofit Administration (PADM)
Psychology (PSYC)
Religious Studies (RLGN)
Social Work (SWRK)
Sociology (SOCI)
Women's Studies (WMST)

Foreign Languages and Literatures

Arabic (ARAB)
Chinese (CHIN)
Classics (CLAS)
French (FREN)
German (GERM)
Greek (GREK)
Hebrew (HEBR)
Italian (ITAL)
Japanese (JAPN)
Languages and Literature (LALI)
Latin (LATN)
Portuguese (PORT)
Russian (RUSS)
Spanish (SPAN)

Fogelman College of Business and Economics

Accountancy (ACCT)
Business Administration (BA)
Economics (ECON)
Finance, Insurance and Real Estate (FIR)
Management Information Systems (MIS)
Management (MGMT)
Marketing (MKTG))
Supply Chain Management Science (SCMS)

College of Communication and Fine Arts

Architecture (ARCH)
Art (ART)
Art History (ARTH)
Communication (COMM)
Communication/Fine Arts (CCFA)
Dance (DANC)
Interior Design (IDES)
Journalism (JOUR)
Theatre (THEA)

Music

Applied Music (MUAP)
Music Appreciation (MUS)
Music Education (MUSE)
Music History, Literature, and Appreciation (MUHL)
Music Industry (MUID)
Music Theory and Composition (MUTC)
Sacred Music (MUSA)

College of Education, Health and Human Sciences

Counseling, Educational Psychology and Research

Counseling and Personnel Services (COUN)
Educational Psychology and Research (EDPR)

Health and Sport Sciences

Dietetics (NUTR)
Health and Human Performance (EXSS)
Health and Sport Sciences (HMSE)
Healthcare Leadership (HCL)
Health Promotion (HPRO)
Physical Education Activities (PHED)
Physical Education Teacher Education (PETE)
Sport and Leisure Commerce (SLC)
Sport and Leisure Management (SLS)

Instruction and Curriculum Leadership

Early Childhood Education (ECED)
Educational Services (EDSV)
Elementary Education (ELED)
Instruction and Curriculum Leadership (ICL)
Instructional Design and Technology (IDT)
Leadership (LEAD)
Reading (RDNG)
Special Education (SPED)

Herff College of Engineering

Biomedical Engineering (BIOM)
Civil Engineering (CIVL)
Electrical and Computer Engineering (EECE)
Engineering (ENGR)
Mechanical Engineering (MECH)
Technology (TECH)

Loewenberg School of Nursing

Nursing (NURS)

University College

Family and Consumer Science (CSED)
Merchandising (MRCH)
Paralegal Studies (LEGL)
University College (UNIV)

Kemmons Wilson School of Hospitality and Resort Management

Hospitality and Resort Management (HPRM)

Independent Programs

Orientation Program (ACAD)
University Honors Program (UNHP)
University of Memphis Libraries (LBRY)


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Last Updated: 9/19/14