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The Economics of Labor Markets
The sequence is designed to provide the student with an understanding of how labor markets work, the impact and/or need for employment related public policies, and why employment outcomes (wages, benefits, hours worked, retirement ages) differ across time and people.
All of these:
Markets, Institutions, and the Role of Government
In some situations, competitive markets fail to allocate resources efficiently. In some instances, production is concentrated in the hands of a few firms who may restrain output and raise prices. In other cases, market prices fail to fully recognize the costs and benefits associated with the consumption or production of certain goods, as in the case of externalities or public goods. This sequence is designed to discover circumstances leading to market failure and the role of government in promoting allocative efficiency.
Required:
Two of the following:
Business Cycles, Economic Welfare, and Macroeconomic Policy
This sequence focuses on government aggregates and enhance practical difficulties associated with the actual implementation of policy, and the evaluation of policy. Macroeconomic history and current policy discussions provide many applications.
Required:
One of the following:
Exchange, Growth, and Development in the Global Economy Goals and Objectives
The evolution of the modern world economy has been influenced not only by technical and institutional changes within national economies but also by interactions among them. Substantial international flows of people, goods, capital, and technology have helped to set the terms under which national patters of economic growth and specialization have developed. This sequence introduces students to formal analysis of international economic relations in the areas of trade, financial flows, and government policies, and then encourages students to examine international economic developments in various historical and institutional settings.
Required:
Two of the following:
Sustainable Systems
Sustainability requires that business and resource use be conducted in ways that meet the needs of the enterprise and its stakeholders today, while protecting, sustaining, and enhancing human resources and the environment for the future. This sequence provides students with the scientific, philosophic, and economic principles necessary to appreciate a sustainable system.
One of the following:
All of the following:
Microeconomic Perspectives
Introduces students to the theory and practice of microeconomics and develops, both intuitively and formally, the prevailing paradigm for describing the decision-making processes of microeconomic agents. Throughout the sequence, students will see how the "microeconomic way of thinking" can be applied to a wide variety of topical political and social issues, understanding, analyzing, and dealing with important "real world" problems.
Required:
One of the following:
