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Table of Contents: 2013-2014 Warren Wilson College Catalog 0.1 Academic Calendar 0.2 Warren Wilson College Catalog 0.3 From the President 0.4 Accreditation and Memberships 0.5 Table of Contents 1.01 Mission, Values, Objectives, and Vision 1.02 College Profile 1.03 History 1.04 Undergraduate Admission 1.05 Financial Aid 1.06 Withdrawal and Refund Policy 1.07 Student Life 1.08 Special Facilities 1.09 Resources and Educational Opportunities 1.10 PEW Learning Center and Ellison Library 2.1 Work Program 2.2 Service Program 2.3 Academic Policies and Regulations 2.4 Baccalaureate Degree Requirements 3 Programs of Study 3.2 Undergraduate Programs of Study 3.2.01 Art 3.2.02 Biology 3.2.03 Business 3.2.04 Chemistry 3.2.05 Creative Writing 3.2.06 Education 3.2.07 English 3.2.08 Environmental Studies 3.2.09 Gender and Women's Studies 3.2.10 Global Studies 3.2.11 History and Political Science 3.2.12 Integrative Studies 3.2.13 Mathematics 3.2.14 Modern Languages 3.2.15 Music 3.2.16 Outdoor Leadership 3.2.17 Peace and Justice Studies 3.2.18 Philosophy 3.2.19 Physics 3.2.20 Psychology 3.2.21 Religious Studies 3.2.22 Social Work 3.2.23 Sociology/Anthropology 3.2.24 Sustainable Business 3.2.25 Theatre 3.2.26 Women's Studies 3.2.27 Writing 3.3 Graduate Program 3.3.1 Master of Fine Arts in Creative Writing 3.4 Specialized Advising Areas 3.4.1 Pre-Law Advising 3.4.2 Pre-Medical and Pre-Allied Health Advising 3.4.3 Pre-Peace Corps, International, and Non-Governmental Service Advising 3.4.4 Pre-Veterinary Medicine Advising 4.01 Courses of Instruction 4.02 Anthropology (ANT) 4.03 Art (ART) 4.04 Biology (BIO) 4.05 Business (BA) 4.06 Chemistry (CHM) 4.07 Economics (ECO) 4.08 Education (EDU) 4.09 English (ENG) 4.10 Environmental Studies (ENS) 4.11 Gender and Women's Studies (GDS) 4.12 Global Studies (GBL) 4.13 History (HIS) 4.14 Interdepartmental (INT) 4.15 Modern Language (LAN) 4.16 Mathematics (MAT) 4.17 Music (MUS) 4.18 Outdoor Leadership (ODL) 4.19 Peace and Justice Studies (PAX) 4.20 Philosophy (PHI) 4.21 Physical Education (PED) 4.22 Physics (PHY) 4.23 Political Science (PSC) 4.24 Psychology (PSY) 4.25 Religious Studies (REL) 4.26 Science (SCI) 4.27 Social Work (SWK) 4.28 Sociology (SOC) 4.29 Theatre (THR) 4.30 Writing (WRI) 5.1 Administration and Staff 5.2 Undergraduate Faculty 5.2.1 Library Faculty and Staff 5.2.2 Staff Teachers 5.3 Graduate Faculty and Staff 6.1 Board of Trustees 6.2 Alumni Board 6.3 Endowed Scholarships 7.1 Index of Sections

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Email: jbarry@warren-wilson.edu

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4.07 Economics (ECO)

Course meets Triad Education Program Requirement in specified area.


ECO 190 - Contemporary Social and Economic Issues 4cr

In this course, 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.

Language/Global Issues or Social Science


ECO 201 - Microeconomics 4cr

In this course, 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, and others, learning how individuals allocate their resources across the choices they face. This study leads to the basic models of demand and supply in the market, the primary focus of the course. Students 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.

Social Science


ECO 203 - Survey in Economics 4cr

This course covers the foundations of the economic system covering both microeconomics and macroeconomics. Specifically we explore what drives individual choices as well as studying the performance and management of the overall economy. The basic models of demand and supply in the market and international trade will comprise most of the micro section and economic growth, inflation and unemployment will make up the macro section. Policy and current issues are integrated throughout the course. Sustainable Business Majors are not eligible for credit from this course. This course is recommended as the prerequisite for non-majors wishing to take upper level Economics courses.

Social Science


ECO 210 - Macroeconomics 4cr

In this course, 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.

Social Science

Prerequisite: ECO 201 Microeconomics.


ECO 301 - Microeconomic Theory and Practice 4cr

This course is 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, input, output, and price decision of the firm.

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? The 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.

Social Science or College Composition II

Prerequisite: ECO 201 Microeconomics.


ECO 380 - Environmental and Ecological Economics 4cr

In this course, 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.

Social Science or College Composition II

Prerequisite: ECO 201 Microeconomics.


ECO 383 - Economic Growth and Development 4cr

The primary themes of this course are the process of economic development and growth, as well as the sustainability of growth. Topics include the meaning of and measures for development and underdevelopment, the connections between growth and development, the processes that lead to growth and development, and the economic, social, political, and cultural obstacles to growth and development and the policies that can alleviate them. Throughout the class, the sustainability and desirability of growth is continually questioned. Students either write and present a country report, or participate in a regional group project studying a regional development issue. Students apply course material in a specific context, learning research, analysis, writing, and presentation skills.

Social Science, Language/Global Issues, or College Composition II

Prerequisites: For Business and Economics majors: ECO 201 Microeconomics and ECO 210 Macroeconomics. For non-majors: ECO 190 Contemporary Social and Economic Issues and permission of the instructor.


ECO 401 - Economics Research Seminar I: Economic Research Design 2cr

In this course, students integrate the knowledge and skills learned in previous economics courses. Students study a particular issue or policy of their interest. This course covers the first four steps of the research process that include: 1) the identification of and focusing on a policy or issue (social, environmental, or economic), 2) literature research of the issue, 3) development of an appropriate theoretical model, and 4) development of an empirical model with proposed hypotheses and identification of data needed to implement the model. Students complete this course with a written proposal to conduct the research and an oral presentation to the department for any funding needed. This course is followed by ECO 402 Economics Research Seminar II: Economic Research Implementation, where students complete the research they have proposed.

Prerequisites: Junior/Senior standing and completion of Business and Economics major core curriculum.


ECO 402 - Economics Research Seminar II: Economic Research Implementation 2cr

In this course, students conduct the research previously proposed in ECO 401 Economic Research Seminar I: Economic Research Design. This second course covers the final four steps of the research process that include: 1) collection of data, 2) analysis of data, 3) interpretation of results and drawing conclusions, and 4) preparation of a final research paper (including the first four steps from ECO 401). Students complete a final research paper that is presented to the campus community and at any relevant conferences available to them in the spring semester.

Prerequisites: Junior/Senior standing and ECO 401 Economic Research Seminar I: Economic Research Design.


ECO 460 - Sustainability in Action I: Designing Decision Tools 4cr

This course focuses on providing students with an understanding of sustainability and how to design decision tools in order to make sustainable choices. Multi-Criteria Decision Analysis, the method used for complex choices in decision theory, is the primary approach taught in this class. Topics include identification of goals and values for sustainable choices, clarification of these goals and values in the form of both quantitative and qualitative indicators, use of decision trees for resource or options assessment, application of the impact matrix, and alternative decision rules for making choices. Students are also introduced to participatory decision tools and methods for facilitating sustainable choices.


ECO 461 - Sustainability in Action II: Making Choices 4cr

In this course, students design and implement a Sustainability Decision Tool for a particular on-campus or off-campus group, business, or organization. They work independently with faculty guidance, meeting only one time per week as a class. Students design the tool in the first 8 weeks and implement the tool in the second 8 weeks. The semester concludes with a formal presentation outlining the final conclusions drawn from the process provided to representatives of the group, business, or organization and other interested and invited persons.

Course meets Triad Education Program Requirement in specified area.