Warren Wilson College Catalog 07-08

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Courses in Economics (ECO)

ECO 190 Contemporary Social and Economic Issues 4cr

Students examine and explore the economic dimension of a set of current social and economic issues selected by the instructor and students. A variety of possible topics can be covered including environmental, international, financial, business, political or other, depending on current events and student interests. The economic dimensions and implications of the issues, as well as policy alternatives, are discussed using current periodicals, statistical sources, and an economics text.
Triad: Language/Global Issues or Social Science

ECO 201 Microeconomics 4cr

Students study the foundation of the economic and business world. Students explore what is behind choices made by individuals as consumers, producers, employees, voters, husbands and wives, fathers and mothers, etc., learning how individuals allocate their resources across the choices they face. This leads to the basic models of demand and supply in the market, the primary focus of the course. We also study how alternative market institutions influence choices made and economic efficiency. International and environmental dimensions and consequences of choices are integrated throughout the course.
Triad: Social Science

ECO 210 Macroeconomics 4cr

Students learn the basic concepts underlying the performance and management of the economy, focusing on how the economic system works; how it fails, causing inflation and unemployment, and how the government intervenes to stabilize the system. Concepts concerning consumer consumption, investment, aggregate demand and supply, equilibrium, fiscal and monetary policy, and the financial system are covered. International and environmental dimensions of the macro economy are integrated throughout the course.
Triad: Social Science
Prerequisite: ECO 201 Microeconomics

ECO 290-298 Special Topics in Economics 2-4cr

In-depth consideration of a topic of particular concern within the disciplines of Economics. May be repeated for credit under different topics.

ECO 299 Independent Study 1-4cr

ECO 301 Microeconomic Theory and Practice 4cr

For advanced students who are majoring in business and economics or who believe they may take an economics graduate degree in the future. Microeconomic topics discussed in previous courses are explored in more depth and are applied using case analyses estimating demand and cost curves using regression analysis. Topics include consumer choice, firm equilibrium, and input, output, and price decision of the firm.
Triad: Social Science
Prerequisites: ECO 201 Microeconomics, MAT 141 Statistics, and junior standing.

ECO 307 International Trade 4cr

This advanced course develops the theories and principles involved in the trade of goods and services between nations as well as the international finance of such trade. Why do countries trade? What are the effects of trade on the world incomes as well as on national and personal incomes? What are the causes and effects of international factor movements, such as labor migrations and foreign investment? What about multinationals? International value of the dollar? Students study a country of their choice in depth producing a final report and presentation that applies the many models and concepts learned in the class.
Triad: Social Science or College Composition II
Prerequisite: ECO 201 Microeconomics

ECO 380 Environmental and Ecological Economics 4cr

Students explore the relationship between human social and economic systems and the environment. We analyze how markets fail, causing many environmental problems, how markets can be harnessed, and how various government strategies can lead to better management of environmental resources and ecosystem services. Topics such as resource valuation, cost-benefit analysis, and multi-criteria analysis are discussed as well as alternative government policy approaches. Students complete a major class project on an issue selected in coordination with the instructor.
Triad: Social Science or College Composition II
Prerequisite: ECO 201 Microeconomics

ECO 383 Economic Growth and Development 4cr

The process of economic development and growth, as well as the sustainability of growth are the primary themes of this class. We explore the meaning of and measures for development and underdevelopment, the connections between growth and development, the processes that lead to growth and development such as the economic, social, political, and cultural, obstacles to growth and development, and the policies that can alleviate them. Throughout the class the questions of the sustainability and desirability of growth are continually questioned. Students either write and present a country report, or participate in a regional group project studying a regional development issue. In either case students apply course material in a specific context, learning research, analytical, writing, and presentation skills.
Triad: Social Science, Language/Global Issues, or College Composition II
Prerequisites: Business and economics major: ECO 201 Microeconomics and ECO 210 Macroeconomics, or Non-majors: ECO 190 Contemporary Social and Economic Issues and permission of the instructor.

ECO 399 Independent Study 1-4cr

ECO 490-498 Special Topics in Economics 2-4cr

In-depth consideration of a topic of particular concern within the disciplines of Economics. May be repeated for credit under different topics.

ECO 499 Independent Study 1-4cr