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Economics (ECO)

Economics (ECO)

201 Principles of Macroeconomics
Definition of economics and its methodology. Scarcity and the resulting macroeconomic problems. Measures and fluctuation in the level of economic activity (size and components of GNP, full employment, growth), stabilization policies, (inflation, unemployment). Money, financial markets and monetary policy in an open economy.
Three hours, three credits.

202 Principles of Microeconomics
Scarcity and the resulting microeconomic problems. Demand and supply analysis and applications. Production and cost functions (elements of location theory). Market structures, industry and firm conduct and performance. Factor demand analysis.
Three hours, three credits.

205 Black Gold, Speed, White Lightning and Tobacco - Economics of Growth and Decline in Appalachia
This course seeks to identify and to analyze the economic factors that impact industry growth and the decline in the Appalachian Region by examining how four industries have fared over the years. More specifically it will address: coal, moonshine, NASCAR and tobacco, and will evaluate the impact that they had in the region. It will conclude with a roundtable discussion on the future of the Region.
Three hours, three credits.

313 Money and Banking
Involves the study of money, financial institutions and markets, interest rates, the banking system, and monetary policy. Domestic as well as international financial systems are studied.
This course is designated Writing Intensive; a grade of "C" or higher in this course is required for this course to count toward the six-credit-hour Writing Intensive graduation requirement for Ferrum College. A student cannot earn a grade of "C" or higher in this course unless he or she earns a "C" or better on the writing assignments required by the course.
Prerequisite: three hours of ENG 201-212, ECO 201 and 202.
Three hours, three credits.

315 Environmental and Natural Resource Economics
This course provides the student with an opportunity to utilize a variety of economic tools to address issues of natural resource use, the resulting environmental issues and implications, and the proposed environmental policies in a framework of sustainable economic development.
Three hours, three credits.

321 History of Economic Thought
A presentation of economic ideas and doctrines which have been most influential toward establishing the dominant economic systems of the past and the present and which are emerging as important to the design of economic systems of the foreseeable future. These ideas and doctrines will be critically examined for useful content in view of social conditions and the distribution of political power during their times, as well as their present and future applicability.
Prerequisites: ECO 201 and 202.
Three hours, three credits.

330 International Trade
Trade theories, traditional and modern. International resource allocation, trade flows, tariff and non-tariff barriers to trade. GATT rounds. Multinational corporations and foreign direct investment. Commercial trade policies.
This course is designated Writing Intensive; a grade of "C" or higher in this course is required for this course to count toward the six-credit-hour Writing Intensive graduation requirement for Ferrum College. A student cannot earn a grade of "C" or higher in this course unless he or she earns a "C" or better on the writing assignments required by the course.
Prerequisite: ECO 201 and ECO 202.
Three hours, three credits.

400 International Finance
Analysis of foreign exchange and foreign exchange markets, balance of payments disequilibrium and adjustment, exchange rate risk management for MNC's and FDI.
Prerequisites: ECO 201 and 202.
Three hours, three credits.

402 Business Cycles and Forecasting
An examination of the forces determining the level of national income and employment in the economic system. Causes of fluctuations in income and employment are analyzed as well as business cycle theories and counter-cyclical policies of government. Theories of macroeconomic behavior and forecasting are studied.
Prerequisites: ECO 201 and 202.
Three hours, three credits.

405 Government and Business
Antitrust and regulation based on economic and social criteria: legal basis, limitations, and the instruments and objects of controls. Justifications of regulation (social, economic); costs of regulation. Analysis and evaluation of government agencies and commissions (FDA, EPA, FCC, SEC, CPC, etc.)
Prerequisites: ECO 201 and 202.
Three hours, three credits.

430 Development Economics
Measurements and income distribution. Obstacles, constraints, factors, and theories of economic development. Aid, planning and actual experiences (NIC's, Latin American countries). New considerations to the development process. North-South relations.
Prerequisite: ECO 201 and ECO 202.
Three hours, three credits.

490 Selected Topics in Economics
This course provides flexibility to the economics curriculum by focusing on a topic of special interest that is not addressed in the regular course offerings. This course will provide students with the opportunity to deepen their understanding of economics through an in-depth study of narrowly defined topics. A student may repeat the course for credit only if the topics offered are different.
Prerequisite: ECO 201 and ECO 202.
Three hours, three credits.