Thomas M. Power, Chairman
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 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 six credits in economics must be earned. Within the 36 credits
the student must include ECON 111S 112S; 311 and 313; 460, 487, 488,
489; 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 486 and none of the
ECON 398 credits may count toward the 33 credit requirement. The following
courses may be counted as part of the 36 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).
The student must pass ENEX 101 with a grade of "C" or above.
MATH 117 150 should be taken in the freshman year. Students planning
graduate study in economics should take MATH 152 153 and consider
MATH 221, MATH 305 and ECON 511, 513, and 560.
The Upper-division Writing Expectation must be met by successfully
completing the Senior Economics Thesis (ECON 487-488).
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 back
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First
Year |
A
|
S
|
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
|
5
|
Total |
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
|
3
|
Electives
and General Education |
6
|
3
|
Total |
15
|
16
|
Third
Year |
|
|
ECON 460
Econometrics |
4
|
-
|
Upper
division economics electives |
3
|
3
|
Electives
& General Education |
8
|
12
|
Total |
15
|
15
|
Fourth
Year |
|
|
ECON 487
Senior Seminar |
2
|
-
|
ECON 488
Research Methods & Thesis Design |
2
|
-
|
ECON 489
Senior Thesis |
-
|
2
|
Upper-division
economics elective |
3
|
-
|
Electives
& General Education |
8
|
13
|
Total |
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 486.
Courses back
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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 Microeconomics 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 Macroeconomics 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 spring. 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. 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. Prereq.,
ECON 111S and 112S. Tax incidence; economic effects of alternative
tax policies at the federal, state, and local levels.
UG 310S Contemporary Issues in Political Economy 3 cr. Offered spring.
Prereq., ECON 100S, 111S or 112S. Analysis of alternative approaches
to contemporary economic problems to develop more informed and logically
consistent personal perspectives on current economics issues and to
form a more tolerant view of other such perspectives.
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, externalities and public goods.
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 poverty 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
autumn. 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.
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 spring. 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 autumn. 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 486 Economic Research Seminar Variable cr. (R 15) Offered
autumn and spring. Prereq., consent of instr.
UG 487 Senior Seminar in Economics 2 cr. Offered autumn. Prereq.,
ECON 311, 313; six additional credits at the upper division level;
upper division standing. Capstone course for economics majors and
others. Advanced topics in economic methodology, theory and/or public
affairs.
U 488 Research Methods and Thesis Design 2 cr. Offered autumn.
Prereq., senior standing, economics major. Development of senior thesis
proposal; presentation of research topics and methods by economics
faculty and seminar participants.
U 489 Senior Thesis 2 cr. Offered spring. Prereq., senior standing,
economics major. Completion of senior thesis; presentation of results
by seminar participants.
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 back
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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)
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