Department of Economics at Illinois State University Department of Economics at Illinois State University Department of Economics at Illinois State University

Undergraduate Courses

ECO 103 INDIVIDUAL AND SOCIAL CHOICE
3 sem. hrs.
Economic impacts of individual and social choices and their influence on social issues. Includes perspectives
from other social sciences. May not be taken under the CT/NC option. Prerequisite: COM 110 or ENG 101 or
concurrent registration.

ECO 105 PRINCIPLES OF ECONOMICS ( 4 sem. hrs.)
Supply and demand in product and resource markets, international trade, determination of GDP, employment, inflation and
economic growth. Not for credit if had ECO 101 and 102.

ECO 138 ECONOMIC REASONING USING STATISTICS ( 3 sem. hrs.)
Introduction to descriptive and inferential statistics with applications in economics. Includes the use of statistical software package
on laboratory computers. May not be taken under CT/NC option. Not for credit if had GEO 138; POL 138; PSY 138; or MQM 100. Prerequisite: MAT 120 or 130, or 145.

ECO 202 CURRENT ECONOMIC ISSUES ( 3 sem. hrs.)
Application of introductory principles to world economic problems, such as energy, pollution, poverty and unemployment. Prerequisites: ECO 101 and 102, or 105.

ECO 205 ECONOMIC DEVELOPMENT AND GROWTH ( 3 sem. hrs.)
Historical and current determinants of economic development. Problems associated with generating and accelerating
economic growth in less developed countries. Prerequisite: ECO 105.

ECO 210 COMPARATIVE ECONOMIC SYSTEMS ( 3 sem. hrs.)
Comparative analysis of several types of economic systems. Discussion of alternative models of economic decision-
making. Case studies of such economies as China, Japan, South Africa, Sweden, Russia, and Yugoslavia.
Prerequisites: ECO 101 and 102, or 105.

ECO 215 MONEY AND BANKING ( 3 sem. hrs.)
Development and growth of the monetary system. Emphasis on monetary theory and applied policy issues.
Prerequisites: ECO 101 and 102, or 105.

ECO 220 LAW AND ECONOMICS ( 3 sem. hrs.)
Overview of economic analysis of topics in the common law including property, contract, tort and criminal law.
Prerequisite: ECO 101 or 105.

ECO 225 LABOR ECONOMICS AND LABOR PROBLEMS ( 3 sem. hrs.)
Economic aspects of labor and trade unionism. Emphasis on wage determination, bargaining, manpower and unions.
Prerequisites: ECO 101 and 102, or 105.

ECO 230 ECONOMICS OF DIFFERENCE: GENDER, ETHNICITY, AND BEYOND ( 3 sem. hrs.)
Differences in economic opportunities and outcomes, including the role of systems, institutions, culture, and preferences.
Prerequisite: ECO 103 or 105.

ECO 235 TELECOMMUNICATIONS ECONOMICS AND PUBLIC POLICY ( 3 sem. hrs.)
Introduction to economics and public policy issues confronting the telecommunications industry, including legal aspects, standards, privacy and security issues.
Prerequisite: ECO 101 or 105.

ECO 236 ECONOMICS OF ENERGY AND PUBLIC POLICY ( 3 sem. hrs.)
Economic analysis of the production, distribution and use of energy with special emphasis on alternative and renewable energy sources. Prerequisites: ECO 101 and 102, or 105.

ECO 238 USING REGRESSION AND ECONOMETRIC METHODS ( 3 sem. hrs.)
Non-theoretical study of the basic concepts of regression analysis and econometrics which emphasizes real-world applications, statistical computing, and learning by doing. Prerequisites: ECO 101 and 102, or 105, and 1 of the following: ECO 138 or GEO 138 or POL 138 or PSY 138 or MQM 100.

ECO 239 MANAGERIAL ECONOMICS ( 3 sem. hrs.)
Theoretical and applied study of demand, cost, and production related to the theory of the firm. Developments of current interest; empirical studies intended to affirm or disaffirm applicability of economic principles. Prerequisites: ECO 101 or 105. MAT 121 or 145 required; and 1 of the following: ECO 138 (is recommended), or GEO 138 or POL 138 or PSY 138 or MQM 100.

ECO 240 INTERMEDIATE MICROECONOMIC THEORY ( 3 sem. hrs.)
Emphasis on topics regarding resource allocation, scarcity, and distribution of income; theory of consumer choice, theory of the firm, market structures, factor markets, distribution of income, welfare economics, and general equilibrium. Prerequisites: ECO 101 or 102, or 105; and one of the following: ECO 138 or GEO 138 or POL 138 or PSY 138 or MQM 100; and a grade of C or better in MAT 121 or 145.

ECO 241 INTERMEDIATE MACROECONOMIC THEORY ( 3 sem. hrs.)
Theory of income, employment, interest rate and price level determination. The government’s influence on these variables via monetary and fiscal policies. Prerequisites: ECO 101 and 102, or 105; and one of the following: ECO 138 or GEO 138 or POL 138 or PSY 138 or MQM 100; and a grade of C or better in MAT 121 or 145.

ECO 245 THE INTERNATIONAL ECONOMY ( 3 sem. hrs.)
Economic aspects of international issues and problems. Analysis of international trade, trade restrictions, exchange rates and the balance of payments. Prerequisites: ECO 101 and 102, or 105.

ECO 255 INTRODUCTION TO ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS ( 3 sem. hrs.)
Overview of natural resource and environmental economics. Topics include management of renewable and nonrenewable
resources and the economically efficient approach to pollution control. Prerequisite: ECO 101 or 105.

ECO 300 SENIOR PROJECT ( 1 sem. hr.)
Involves independent out-of-class work on a project designed in consultation with the instructor in the concurrent 300-level course. Prerequisites: ECO 240 and 241. To be taken concurrently with a 300-level Economic course.

ECO 320 INDUSTRIAL ORGANIZATION ( 3 sem. hrs.)
Theoretical and empirical analysis of basic influences on industrial markets and performances. Market practices, the role of competition, and related policy issues. Prerequisite: ECO 240.

ECO 326 ECONOMICS OF HUMAN RESOURCES ( 3 sem. hrs.)
Theoretical and empirical analysis of labor markets. Education and training, labor mobility, wage structure, discrimination, unemployment, wage and incomes policies. Prerequisite: ECO 225 or 240.

ECO 335 ECONOMICS OF REGULATION AND ANTITRUST ( 3 sem. hrs.)
The origins, aims, methods, and effects of economic regulation and antitrust, with an emphasis on case studies.
Prerequisite: ECO 239 or 240.

ECO 339 ORGANIZATIONAL ECONOMICS ( 3 sem. hrs.)
Economic analysis of firm boundaries, make or buy decisions, incentive contracts and supply relationships, repeated interaction
and reputations, organizational structure and related management applications. Prerequisite: ECO 239 or 240.

ECO 340 HEALTH ECONOMICS AND POLICY ( 3 sem. hrs.)
Study the production of health care and the market forces that act on individuals, providers, institutions, and policy design. Prerequisite: ECO 240.

ECO 343 COMPETITION AND MANAGERIAL STRATEGIES ( 3 sem. hrs.)
Applications of game theory to managerial decisions in competitive, oligopolistic, and monopolistic markets.
Prerequisite: ECO 239 or 240 or consent of the instructor.

ECO 345 INTERNATIONAL TRADE ( 3 sem. hrs.)
Causes and consequences of international trade. Analysis of tariffs, quotas, other trade restrictions, current trade policy and multinational corporations. Prerequisite: ECO 240 or 245.

ECO 346 INTERNATIONAL FINANCE ( 3 sem. hrs.)
Mechanisms of international payments and evaluation of the international monetary system. Topics include exchange rates, balance of payments, international monetary cooperation, and connections between the domestic and international economy. Prerequisite: ECO 241 or 245.

ECO 350 PUBLIC FINANCE ( 3 sem. hrs.)
Analysis of the economic impacts of government expenditures and taxes on the allocation of resources and the distribution of income. Prerequisite: One 200-level ECO course.

ECO 353 REGRESSION AND TIME SERIES ANALYSIS ( 4 sem. hrs.)
Regression and time series methods for business and economic applications, including exponential smoothing and Box-Jenkins methods. Computer statistical package used. Also offered as MAT 353. Prerequisite: Grade of C or better in MAT 351 or equivalent or consent of the instructor.

ECO 372 HISTORY OF ECONOMIC THOUGHT ( 3 sem. hrs.)
Economic analysis from the Mercantilists to the American Institutionalists. Relates earlier schools of thought to the contemporary. Prerequisites: Two 200-level ECO courses or consent of the instructor.

ECO 398 PROFESSIONAL PRACTICE: INTERNSHIP IN ECONOMIC RESEARCH ( 1-6 sem. hrs.)
On-the-job experience as a practicing economist in private industry or government. Interns may be involved in all phases and types of economic research. CR/NC only; not for credit major/minor; must complete department application. Prerequisites: ECO major or minor and consent of the department Professional Practice Coordinator; 2.20 GPA, and 50 hours credit.