Western Illinois University: Macomb Campus
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Economics and Decision Sciences
500 Level Courses
500 Macroeconomic Theory and Policy. (Cr.3)
An examination of current macroeconomic theory. The emphasis is on understanding a generalized model of the economy with multiple causal variables. Differences in interpretations of economic data and theoretical approaches are analyzed. Theory is applied to the current economic conditions. Present and proposed policies are discussed to illustrate the use of theory in solving economic problems.
501 Readings in Economics. (Cr. 1–3, repeatable to 3)
Graded S/U. Prerequisites: Permission of Department Graduate Committee Chairperson.
502 Macroeconomics and Growth Theory. (Cr. 3)
A study of the aggregate theory of income, employment, and price levels using both comparative statics and dynamics, along with a discussion of business cycles and growth theories. Prerequisite: ECON 481G or permission of the graduate adviser.
503 Applied Price Theory. (Cr. 3)
Application of economic theory and methods to managerial decision making. Topics include demand, cost and production analysis and estimation; forecasting; pricing policy; risk and uncertainty problems; and capital budgeting.
504 Price Theory. (Cr. 3)
An analysis of consumer and firm behavior, market and multimarket equilibrium, and welfare economics. Prerequisite: ECON 481G or permission of the graduate adviser.
506 Econometrics I. (Cr. 3)
Elements of the theory and practice of econometrics: including univariate and multivariate single equation models, statistical problems such as multicollinearity, special techniques and applications, and an introduction to simultaneous equations models. Students will complete a project involving hypothesis formulation, data collection, analysis using statistical software, and written presentation of results.
507 Econometrics II. (Cr. 3)
Estimation of single and simultaneous equation systems; estimation of demand, production, investment, and consumption functions; distributed lag models; dummy dependent variable models; multivariate analysis; economy wide models. Can be taken in lieu of ECON 506. Prerequisites: ECON 481G and permission of the graduate adviser.
508 Economic Theory for Decision Makers. (Cr. 3)
This course develops the macro- and microeconomic concepts most useful to decision makers. Topics covered include measuring aggregate economic activity, unemployment, inflation, business cycles, monetary policy, fiscal policy, international trade, derivation and determinants of market demand, theory of production, theory of cost, derivation and determinants of supply, and comparative performance of firms in alternate market structures. (This course cannot be taken by students enrolled in the Master of Arts in Economics program and does not satisfy entrance requirements for this program. It is designed for graduate students in areas other than economics.)
515 Economic Development. (Cr. 3)
The theory of economic development stressing the role of entrepreneurship, innovation, capital formation, saving, investment, labor, and foreign assistance. The effect of the changing social and value structures of developing countries on the economic system is also examined.
525 Monetary Theory and Policy. (Cr. 3)
A study of the theoretical and empirical work in money demand, money supply multiplier, output effect of monetary policies, alternative techniques of monetary policy formulation and implementation, multi-asset financial markets, and inflation. Prerequisite: ECON 500 or ECON 502.
528 American Economic History. (Cr. 3)
A study of the development of the American economy from the colonial period to the present. The course explores both the successes and the failures of the United States economy. The emphasis is on how economic, political, and legal frameworks have interacted to create the American experience. Prerequisite: Any combination of six hours from ECON 231, 232, 328, HIST 105, 106, 300; or graduate standing in a business discipline, economics, history, education (history or related specialty); or permission of the instructor.
535 Small Community Development. (Cr. 3)
This course emphasizes the practical knowledge required to deal with non-metropolitan development issues. The emphasis will vary with changes in the development environment. Topics will include economic trends, federal and state resources available to support economic development, and special problems and opportunities in small community development. Prerequisites: Permission of the instructor.
538 Economics for Managers. (Cr. 3)
The application of relevant theories and methods from microeconomics, macroeconomics, labor, international economics, and regulatory economics to managerial decision making in profit and nonprofit organizations. Topics include market structure, production and cost, foreign exchange and international trade, and public policy toward business. Master’s in economics students must receive approval from the graduate adviser before registering. Prerequisites: ECON 508, or ECON 231 and ECON 232, or equivalent.
548 International Economic Relations. (Cr. 3)
An analysis of the fundamental economic principles, forces and governmental policies which determine the economic relations between countries under changing world conditions. Master of Arts in Economics students must receive approval from the graduate adviser before registering. Prerequisites: ECON 508, or ECON 231 and ECON 232, or equivalent.
550 Economic Topics and Curriculum Development. (Cr. 1–3, repeatable to 3)
A course designed to assist classroom teachers in the development of elementary and secondary curriculum incorporating economic concepts. This course will also provide an opportunity for teachers with a basic understanding of economics to adapt the latest computerbased television and print matter curriculum materials to the needs of their classes and students. Check with the adviser to determine applicability of this course in your degree program. Graded S/U.
570 International Trade Theory. (Cr. 3)
A detailed examination of classical and modern theories of international trade. Application of modern techniques of economic analysis to international trade theory. A study of the theory of exchange rates and international money markets with an analysis of sources, causes, and the effects of capital flows on the world economy.
599 Internship. (Cr. 1–12, repeatable to 12 hours)
Only three hours per semester can be included in the degree plan. With prior approval of the graduate adviser, up to six hours can be included in the degree plan for internships covering the entire academic year. Graded S/U. Prerequisites: Graduate standing and permission of departmental graduate adviser.