|
2000-2001 Catalog |
Department of Economics
The department considers its teaching goals to be three-fold: (1) To present to students the basic theoretical tools of economic analysis, relevant facts and institutional material, which will assist them as civic leaders. (2) To introduce students majoring in economics to the various special fields of study within economics. This training along with extensive work in the other liberal arts and sciences, is intended to instill breadth of intellectual interest, critical habits of thought, a problem-solving attitude and facility of expression. (3) To help meet, through graduate work, the increasing demands for competent professional economists in industry, commerce, government and education.
Courses cover general economic theory, environmental economics, monetary theory, international economics, public finance, labor economics, regional and urban economics, economic development, comparative economic systems, econometrics, and economic philosophy.
Students may major in economics leading to a Bachelor of Arts degree. Graduate work leads to a Master of Arts degree in economics (see Graduate School catalog).
Special Degree Requirements
Refer to graduation requirements listed previously in the catalog. See index.
Thirty-three credits in economics must be earned. Within the 33 credits the student must include ECON 111S-112S; 311 and 313; 460, 491; and fourteen elective economics credits numbered 300 or above. Three credits of ECON 100S may be counted toward the additional fourteen credits of upper-division economics courses if taken before attaining junior status. A maximum of four credits of ECON 494 and none of the ECON 398 credits may count toward the 33-credit requirement. The following courses may be counted as part of the 33 economics credits required for the undergraduate degree: GEOG 315, PSC 365, FOR 320, FOR 520.
The student should take ECON 311 and 313 before the senior year.
Non-economics courses required for the undergraduate degree are: MATH 117 and MATH 150 or both MATH 152 and 153; MATH 241 (or equivalent); CS 172 (or equivalent). The student must pass Enex 101 with a grade of "C" or above, or pass an economics department composition examination before he or she has completed 100 credits. MATH 117-150 should be taken in the freshman year. Students planning graduate study in economics should take ECON 560 and MATH 152-153 and consider MATH 221, MATH 305 and ECON 511 and 513.
Teacher Preparation in Economics
Major Teaching Field of Economics: For an endorsement in the major teaching field of economics, a student must complete the requirements for a B.A. with a major in economics. Students must also complete C&I 428, gain admission to Teacher Education and Student Teaching and meet the requirements for certification as a secondary teacher (see the School of Education section of this catalog).
Students are advised that the demand in Montana high schools for teaching of courses in this field is limited. Student should complete another endorsement (major or minor) in a field other than drama, geography, journalism, psychology or sociology.
Minor Teaching Field of Economics: For an endorsement in the minor teaching field of Economics, a student must complete ECON 111S, 112S, 304, 311, 313, 317 and 323. Students also must complete C&I 428, gain admission to Teacher Education and Student Teaching and meet the requirements for certification as a secondary teacher (see the School of Education section of this catalog).
Suggested Course of Study
First Year
CS 172 Computer Modeling - 3
ECON 111S, 112S Introduction to Economics 3 3
ENEX 101 Composition 3 -
MATH 117 Probability and Linear Math 3 -
MATH 150 Applied Calculus - 4
Required non-economics courses 3 3
Electives and General Education 3 2
15 15
Second Year
ECON 311 Intermediate Microeconomics I 3 -
ECON 313 Intermediate Macroeconomics - 3
MATH 241 Statistics I - 4
Required non-economics courses 3 3
Elective economics course 3 -
Electives and General Education 6 5
15 15
Third Year
ECON 460 Econometrics 4 -
Upper-division economics
electives 3 3
Electives & General Education 8 12
15 15
Fourth Year
ECON 491 Advanced Seminar 3 -
Upper-division economics elective 3 3
Electives & General Education 9 12
15 15
Requirements for a Minor
To earn a minor in economics the student must complete ECON 111S, 112S, 311, 313, and six additional credits of economics classes numbered 300 or above, only three of which may be in ECON 494.
Courses
U = for undergraduate credit only, UG = for undergraduate or graduate credit, G = for graduate credit. R after the credit indicates the course may be repeated for credit to the maximum indicated after the R.
U 100S Introduction to Political Economy 3 cr. Offered autumn and spring. A critical examination of the market mechanism as a social decision-making device to guide the use of a nation's resources. The limitations of these processes in the light of current economic problems such as the rise of the large corporation, monopoly, environmental degradation, economic discrimination and the increasing role of the government.
U 111S Introduction to Micro-economics 3 cr. Offered every term. The nature of a market economy, economic decisions of the household and firm, competition and monopoly, value and price determination, distribution of income and applied microeconomic topics.
U 112S Introduction to Macro-economics 3 cr. Offered every term. The determination of the level of national economic activity, inflation, economic instability, the role of money and financial institutions, and selected topics in public economic policy.
U 195 Special Topics Variable cr. (R-6) Offered intermittently. Experimental offerings of visiting professors, experimental offerings of new courses, or one-time offerings of current topics.
UG 302S The Montana Economy 3 cr. Offered autumn. An introduction to various ways of analyzing state and local economies using Montana and its regions as a case study. The Montana economy is analyzed by region and major industrial sector.
UG 304 Public Finance: Expenditures 3 cr. Offered autumn and summer. Prereq., ECON 111S and 112S. Rationale for governmental expenditure; public goods; public choice. Analysis of expenditure policy. Intergovernmental relations.
UG 305 Public Finance: Taxation 3 cr. Offered spring and summer. Prereq., ECON 111S and 112S. Tax incidence; economic effects of alternative tax policies at the federal, state, and local levels.
UG 311 Intermediate Microeconomics 3 cr. Offered spring and autumn. Prereq., ECON 111S and MATH 150 or equiv. Analysis of consumer behavior, production, factor pricing, and income distribution under assumptions of perfect competition.
UG 313 Intermediate Macroeconomics 3 cr. Offered autumn and spring. Prereq., ECON 112S and MATH 150. Analysis of national income determination, unemployment, and inflation with emphasis on the role of fiscal and monetary policy.
UG 315 History of Economic Thought 3 cr. Offered intermittently. Prereq., ECON 111S, 112S. A survey of economic ideas from antiquity through the present.
UG 317 Money and Banking 3 cr. Offered intermittently. Prereq., ECON 111S, 112S. Definition and role of money; banks and other financial institutions as suppliers of money; the federal reserve system as a regulator of money; monetary theories, history, and policy.
UG 320 Health Economics 3 cr. Offered autumn. Prereq., economics course. Survey of market forces that govern the production and consumption of medical care in the U.S. market; uncertainty, asymmetric information, and concentrations of market power resulting in inefficent outcomes. Topics include cost escalations, role of medical insurance, and problems of an aging population.
UG 323 Labor Economics 3 cr. Offered autumn. Prereq., ECON 111S, 112S. Economic analysis of labor markets. Theories of wage determination, discrimination and poerty with implications for manpower policy.
UG 324 Industrial Relations 3 cr. Offered spring. Prereq., ECON 111S, 112S. Theory and practice of collective bargaining in contemporary American labor markets. Emphasis on case studies.
UG 332 International Economic Relations 3 cr. Offered intermittently. Prereq., ECON 111S, 112S. International finance; theory, policy, institutions and issues. Analysis of balance of payments, exchange rate determination, exchange rate regimes, and international financial agreement.
U 336 U.S. Asian Economics 3 cr. Offered autumn. The study of Asian economies and their impact on the U.S. and world economies through a study of international trade and economic development in Asia.
UG 345S The Economics of Wildland Preservation 3 cr. Offered spring. An economic analysis of the costs and benefits associated with preserving natural areas. The extension of economic tools to analyze the value of non-commercial resources, goods, and services is one focus. A critique of the limits and dangers associated with that extension is also developed.
UG 350 Economic Development 3 cr. Offered intermittently. Prereq., ECON 111S, 112S. Study of the processes of economic growth and development in the less developed world.
UG 374 Comparative Economic Systems 3 cr. Offered intermittently. Prereq., ECON 111S, 112S. Comparative analysis of alternative ideal types of economic organization stressing the assumptions and values used in their critique and defense. Capitalism, Socialism, Communism, Fascism.
UG 376 Monopoly and Public Policy 3 cr. Offered intermittently. Prereq., ECON 111S. The theoretical basis for public policy solutions to market power. Emphasis on case studies in matters of antitrust, regulation of public utilities, and public ownership of business enterprises.
UG 380 Regional and Urban Economics 3 cr. Offered intermittently. Prereq., ECON 111S, 112S. Study of the role of spatial relationships on the economy. Analysis of the locational patterns of people and industry. Economic characteristics of urban land markets, city growth, structure, and land use.
U 393 Omnibus Variable cr. (R-9) Offered intermittently. Independent work under the University omnibus option. See index.
U 395 Special Topics Variable cr. (R-9) Offered intermittently. Experimental offerings of visiting professors, experimental offerings of new courses, or one-time offerings of current topics.
UG 396 Independent Study Variable cr. (R-9) Offered intermittently. Prereq., six credits in economics and consent of instr.
UG 398 Cooperative Education Experience Variable cr. (R-12) Offered intermittently. Extended classroom experience which provides practical application of classroom learning during placements within the business community. The student must complete a learning agreement with a faculty member, relating the placement opportunity to his or her field of study. The department will determine the number of credits to be earned for the experience based upon the activities outlined in the learning agreement. Prior approval must be obtained from the faculty supervisor and the Center for Work-Based Learning. The department has determined that credit for this course cannot count in the 33 credit minimum requirement for the major.
UG 431 International Trade 3 cr. Offered autumn. Prereq., ECON 311 or consent of instr. International trade; theory, policy, institutions, and issues. Analysis of comparative advantage and trade restrictions, negotiations, and agreements.
UG 440 Environmental Economics 3 cr. Offered spring. Prereq., ECON 111S, 112S. Same as EVST440. Outlines a theoretical framework for the analysis of environmental problems, including concepts of market failure and externalities, materials balance and property rights. The policy implications of this analytical model are explored for a range of topics including pollution and the preservation of natural environments and species.
UG 460 Econometrics 4 cr. Offered autumn. Prereq., an introductory statistics course. Quantitative methods in economics with emphasis on regression analysis.
UG 491 Advanced Seminar in Economics 3 cr. (R-6) Offered spring. Prereq., ECON 311, 313; six additional credits at the upper-division level; upper-division standing. Advanced topics in economic methodology, theory and/or public affairs.
UG 494 Seminar in Economics Variable cr. (R-15) Offered autumn and spring. Prereq., consent of instr.
UG 495 Special Topics Variable cr. (R-9) Offered intermittently. Experimental offerings of visiting professors, experimental offerings of new courses, or one-time offerings of current topics.
UG 497 Advanced Problems Variable cr. (R-15) Offered intermittently. Prereq., 12 credits in economics and consent of instr.
G 501 Graduate Research Variable cr. (R-6) Offered autumn and spring.
G 511 Microeconomic Theory 3 cr. Offered autumn. Prereq., ECON 311. Advanced theoretical treatment of consumer and producer behavior.
G 513 Macroeconomic Theory 3 cr. Offered spring. Prereq., ECON 313. Advanced theoretical treatment of national income determination, unemployment and inflation.
G 560 Advanced Econometrics 4 cr. Offered spring. Prereq., ECON 460. Advanced quantitative methods in econometrics. Coverage of probit-logit regression models, simultaneous equation system, and other specialized techniques.
G 569 Empirical Research Design Variable cr. (R-6) Offered every term. Role and scope of empirical research. Planning and conduct of a research project.
G 595 Special Topics Variable cr. (R-9) Offered intermittently. Experimental offerings of visiting professors, experimental offerings of new courses, or one-time offerings of current topics.
G 598 Cooperative Education Experience Variable cr. (R-9)Offered intermittently. Prereq., consent of department. Extended classroom experience which provides practical application of classroom learning during placements off campus. Prior approval must be obtained from the faculty supervisor and the Center for Work-Based Learning.
G 599 Thesis Variable cr. (R-9) Offered every term.
Faculty
Professors
Richard N. Barrett, Ph.D., University of Wisconsin, Madison, 1972
Douglas Dalenberg, Ph.D., University of Oregon, 1987
John W. Duffield, Ph.D., Yale, 1973
Richard D. Erb, Ph.D., Stanford University, 1967
George B. Heliker, Ph.D., University of Michigan, 1954 (Emeritus)
Robert W. McKelvey, Ph.D., University of Wisconsin, 1954
John G. Photiades, Ph.D., University of Illinois, 1972
Thomas M. Power, Ph.D., Princeton, 1971 (Chairman)
Dennis J. O'Donnell, Ph.D., Pennsylvania State University, 1974
Kay Unger, Ph.D., Johns Hopkins University, 1974
John H. Wicks, Ph.D., University of Illinois, 1962 (Emeritus)
Associate Professor
Michael H. Kupilik, Ph.D., University of Colorado, 1976
Adjunct Assistant Professor
Jeffrey T. Bookwalter, Ph.D., University of Utah, 1999