Faculty

Cristina Parsons, Assistant Professor of Economics (Program Chair)
Mary Reinstma, Assistant Professor of Economics
John Volpe, Assistant Professor of Economics

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Description

The Economics Program at Trinity College combines the traditional cornerstones of economics with the distinct emphases of Trinity's mission. The curriculum provides all students with the opportunity to become familiar with the macroeconomic and microeconomic paradigm, as well as to develop facility with economic applications in various policy areas. Consistent with the interdisciplinarity of Trinity College's curriculum and its focus on gender, race, and diversity, the courses offered by the Economics Program invite students to study the discipline from a variety of perspectives and to understand the historical and institutional context in which both private and public decisions are made. In addition, the Economics Program follows the mission of Trinity College by providing both breath and depth of study, and by encouraging students to develop an ability to abstract, handle data, critically analyze existing work, both theoretical and applied, and develop their own research agenda.

The Economics Program supports a major and a minor in both the College of Arts and Sciences and the School of Professional Studies.

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Major Requirements

Required Courses (25 credits)

ALL of the following economics courses:

ECON 101 Introduction to Microeconomics
ECON 102 Introduction to Macroeconomics
ECON 311 Microeconomic Theory
ECON 312 Macroeconomic Theory
ECON 499 Senior Seminar

ONE course in econometrics or statistical inference:

ECON 371 Econometrics
MATH 210 Statistical Inference

BOTH of the following courses in mathematics:

MATH 110 Introduction to Statistics
MATH 125 Calculus and Analytical Geometry I

Elective Courses (18 credits) 

SIX additional upper-level (200-300 level) courses in economics

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Minor Requirements

Required Courses (15 credits) 

ALL of the following courses:

ECON 101 Introduction to Microeconomics
ECON 102 Introduction to Macroeconomics
ECON 311 Microeconomic Theory
ECON 312 Macroeconomic Theory
MATH 110 Introduction to Statistics 

Elective Courses (6 credits)

TWO additional upper-level (200 or 300-level) courses in economics

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Program Policies

Advanced Placement:  Advanced Placement scores of 4 or 5 will be accepted for credit by the Economics Program to satisfy ECON 101 and ECON 102.

CLEP Policy:  Standard scores and above are accepted in the CLEP examination only in consultation with program faculty.

Grades in Major Courses:  Majors must maintain a minimum cumulative GPA of 2.0 in their major.  Majors must receive a grade of "C" or better in required courses.

Pass/No Pass:  With the exception of internships, courses fulfilling a major or minor requirement may not be taken pass/no pass.

Senior Assessment:  The senior assessment includes a comprehensive project to be completed under the direction of program faculty. Students must earn a grade of "C" or better on this project.

Transfer Credits:  Transferring students who wish to minor in economics must take at least three economics courses at Trinity College. Transferring students who wish to major in economics must take at least six economics courses at Trinity College, one of which must be ECON 499. Acceptance of transfer courses is dependent upon program review and approval.

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Course Descriptions

ECON 101 Introduction to Microeconomics
Introduces principles of microeconomics and their applications. Topics include supply and demand, operation of markets, consumer and enterprise behavior, competition and monopoly, and microeconomic policy. Formerly ECO 122 Principles of Economics I.
3 credits
Prerequisites: MATH 108, MATH 109, or equivalent
FLC Area V
Core II

ECON 102 Introduction to Macroeconomics
Introduces principles of macroeconomics, emphasizing such topics as national income, unemployment, inflation, and economic growth. The role of policy in affecting macroeconomic outcomes is examined in detail. Formerly ECO 121 Principles of Economics II.
3 credits
Prerequisites: ECON 101 and MATH 108, MATH 109, or equivalent
FLC Area V
Core II

ECON 105 Current Issues in Economics
Analyzes current topics in applied economics as a way of introducing students to basic economic theory and to the questions addressed by the discipline. Formerly ECO 105 Contemporary Issues.
3 credits
FLC Area V

ECON 107 Economics and Government
Analyzes how economics affects the practical principles of governmental policy, including taxation, distribution, legislation, and regulation at the federal, state, and local levels.
3 credits

ECON 221 Environmental Economics
Provides a background in environmental and resources economics. Externalities, evaluation methods, and corrective mechanisms are covered. The course explores optimal depletion rates of both exhaustible and renewable resources through the use of basic economic models. It also surveys existing environmental legislation and analyzes policies that may improve society's welfare. Formerly ECO 235 Environmental Economics.
3 credits
Prerequisites: ECON 101

ECON 223 Women in the Economy
Applies the theory of the household and investment in human resources to female labor force participation, marriage, family formation, sex discrimination, women's education choices, and government policies affecting the economic status of women. Formerly ECO 375 Women in the Economy.
3 credits
Prerequisites: ECON 101
FLC Area V

ECON 224 Public Finance
Analyzes the principles of government expenditure and taxation. Topics include public goods, externalities, cost-benefit analysis, the structure of the U.S. tax systems, and the effects of expenditure programs and taxes on economic behavior. Specific public policy issues are also addressed. Formerly ECO 369 Public Finance.
3 credits
Prerequisites: ECON 101

ECON 225 Industrial Organization
Analyzes economic models of U.S. antitrust and regulation laws. Applies economic analysis to legal case studies of price controls, horizontal and vertical mergers, intent to monopolize, environmental regulation, and franchising. Formerly ECO 352 Industrial Organization.
3 credits
Prerequisites: ECON 101

ECON 226 Labor Economics
Analyzes the process of wage and employment determination, the organization and role of labor unions, the structure of labor markets, labor market discrimination, and macroeconomic implications of labor market behavior. Formerly ECO 361 Labor Economics.
3 credits
Prerequisites: ECON 101

ECON 241 Money and Banking
Describes and analyzes money and its functions; the financial system, including the monetary authority, financial institutions, and financial markets; and monetary policy, its implementation and effects on the economic system. Formerly ECO 263 Money and Banking.
3 credits
Prerequisites: ECON 101

ECON 251 Latin American Economics
Provides an overview of the economic development process and the main policy issues that confront Latin America. The course covers the historical background, explanations of underdevelopment, and the recent performance of Latin American economies, as well as policy issues and specific current problems in the region. Formerly ECO 265 Latin American Economics.
3 credits
Prerequisites: ECON 101

ECON 253 Issues in Economic Development
Examines economic problems of developing countries, with an emphasis on the role of policy. Compares economic performance across both developing and developed countries. Formerly ECO 280 Issues in Economic Development.
3 credits
Prerequisites: ECON 101 and ECON 102
FLC Area V

ECON 299 Honors Seminar: Poverty in the United States
Analyzes issues surrounding poverty and economic inequality within the United States. Formerly ECO 262 Inequality.
3 credits
Prerequisites: Admission to the Honors Program or ECON 101
FLC Area V

ECON 311 Microeconomic Theory
Examines the behavior of individual economic agents. Develops models of consumer and producer behavior in the setting of perfect competition, monopoly, and other market structures. Formerly ECO 365 Microeconomic Theory.
3 credits
Prerequisites: ECON 101 and ECON 102

ECON 312 Macroeconomic Theory
Examines the economy from the aggregate point of view. Analyzes the factors that cause fluctuations in important economic variables such as output, employment, consumption, investment, the price level, interest rates, and exchange rates. Formerly ECO 366 Macroeconomic Theory.
3 credits
Prerequisites: ECON 101 and ECON 102

ECON 351 International Trade
Examines the economics of international trade. Topics include theories on why countries engage in trade; tools of trade policy; reasons for trade restrictions; economic effects of regional trading blocs, such as the North American Free Trade Agreement and the European Community. Formerly ECO 270 International Economics.
3 credits
Prerequisites: ECON 101
FLC Area V

ECON 353 International Finance
Studies the principles of open economy financial macroeconomics. The course describes and analyzes the determinants of exchange rates, trade balances, and capital flows. The role of policy in affecting output levels, price levels, and interest rates in different countries is examined in detail. Past and present international monetary arrangements are examined. Formerly ECO 371 International Finance.
3 credits
Prerequisites: ECON 101

ECON 361 Mathematical Economics
Covers mathematical principles required for students to perform advanced economic analyses
3 credits
Prerequisites: MATH 110 and MATH 125

ECON 371 Econometrics
Develops the tools necessary for applied economic research. After a review of statistical inference, regression analysis is undertaken. Econometric techniques are used to estimate, test, and deal with various problems of single-equation and multiple-equation economic models. Formerly ECO 367 Econometrics.
3 credits
Prerequisites: ECON 101, 102, and MATH 110

ECON 491 Internship
Allows students to pursue an internship for credit. Economics majors may be employed in meaningful work in government, business, labor, research, and finance. Eligibility for internship requires second semester junior status at least. Forty hours are required for each credit; no more than three credits can be earned for a single internship. No more than two internships are eligible for credit. Supervision includes weekly consultation with the internship advisor and constant supervision by the onsite internship supervisor. Two evaluations are required: one by the onsite supervisor and one by the student. Pass/no pass grading system is used. Formerly ECO 488 Internship.
Credits arranged
Prerequisites: Permission of instructor

ECON 498 Independent Study
Allows students to pursue an independent avenue of study under the direction of a faculty member.
3 credits
Prerequisites: Permission of instructor

ECON 499 Senior Seminar in Economics
Develops advanced macroeconomic and microeconomic theory and applies it to current issues. Requires a major research paper. Formerly ECO 480 Senior Seminar in Economics.
3 credits
Prerequisites: ECON 101, ECON 102, ECON 311, and ECON 312

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