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, 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 36 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 MATH 152 and 153; MATH 241 (or equivalent).
The student must pass ENEX 101 with a grade of "C" or
above. MATH 117and MATH 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 487-489).
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 |
Autumn |
Spring |
ECON 111S, 112S Introduction to Economics |
|
|
ENEX 101 Composition |
|
|
MATH 117 Probability and Linear Math |
|
|
MATH 150 Applied Calculus |
|
|
Electives and General Education |
|
|
Total |
|
|
Second Year |
|
|
ECON 311 Intermediate Microeconomics I |
|
|
ECON 313 Intermediate Macroeconomics |
|
|
MATH 241 Statistics I |
|
|
Upper-division economics elective |
|
|
Electives and General Education |
|
|
Total |
|
|
Third Year |
|
|
ECON 460 Econometrics |
|
|
Upper division economics electives |
|
|
Electives & General Education |
|
|
Total |
|
|
Fourth Year |
|
|
ECON 487 Senior Seminar |
|
|
ECON 488 Research Methods & Thesis Design |
|
|
ECON 489 Senior Thesis |
- |
2 |
Upper-division economics elective |
3 |
3 |
Electives & General Education |
10 |
8 |
Total |
|
|
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
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.
Economics (ECON)
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 36 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
spring. 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
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
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
Associate Professor
Michael H. Kupilik, Ph.D., University of Colorado, 1976
Adjunct Assistant Professor
Jeffrey T. Bookwalter, Ph.D., University of Utah, 1999
Emeritus Professors
George B. Heliker, Ph.D., University of Michigan, 1954
John H. Wicks, Ph.D., University of Illinois, 1962