Economics
Faculty
Cristina Parsons, Associate Professor of Economics (Program Chair)
Description
The Economics Program at Trinity 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'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 by providing both breath and depth of study and by encouraging students to develop an ability to abstract, handle data, and critically analyze existing work, both theoretical and applied.
The Economics Program supports a major and a minor in the College of Arts and Sciences.
Major Requirements
Required Courses (25 credits)
ALL of the following economics courses:
ECON 101 Introduction to Microeconomics
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: ECON 100 and Either MATH 105, MATH 109, or Math 123
FLC Area V
Core Area II: Understanding Self, Society, and Nature
ECON 102 Introduction to Macroeconomics
ECON 102 Introduction to Macroeconomics
Introduces principles of macroeconomics and their applications. Topics include 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
FLC Area V
Core Area II: Understanding Self, Society, and Nature
ECON 311 Microeconomic Theory
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
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 499 Senior Seminar in Economics
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
ONE course in econometrics or statistical inference:
ECON 371 Econometrics
ECON 371 Econometrics
Covers mathematical principles required for students to perform advanced economic analyses.
3 credits
Prerequisites: ECON 101, ECON 102, MATH 110 and MATH 125
MATH 210 Statistical Inference
MATH 210 Statistical Inference
Applies the principles of inference to the social sciences. Topics include confidence intervals, inference for distributions, one and two-sample t-test, z-test, F-test, chi-square test, linear regression analysis and comparing two proportions. Use of statistical software is an integral part of the course. Formerly MAT 210 Statistical Inference.
3 credits
Prerequisites: MATH 110 with a grade of ""C"" or better
FLC Area IV: Exploration Cluster
BOTH of the following courses in mathematics:
MATH 110 Introduction to Statistics
MATH 110 Introduction to Statistics
Presents the basic principles of statistics with applications to the social sciences. Topics include descriptive statistics, probability theory, normal and binomial distributions, and central limit theorem, with an introduction to the use of statistical software. Formerly MAT 110 Introduction to Statistics.
3 credits
General Education: Knowledge and Inquiry Area
Prerequisites: MATH 108, MATH 109 or higher level mathematics course
MATH 125 Calculus and Analytic Geometry I
MATH 125 Calculus and Analytic Geometry I
Examines the following topics: functions, limits, continuity, differentiation and applications, and basic integration. Formerly MAT 125 Calculus and Analytic Geometry I.
4 credits
Prerequisites: MATH 123 or placement test proficiency
General Education: Knowledge and Inquiry Area
FLC Area IV: Exploration Cluster
Elective Courses (18 credits)
SIX additional upper-level (200-300 level) courses in economics
Minor Requirements
Required Courses (15 credits)
ALL of the following courses:
ECON 101 Introduction to Microeconomics
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: ECON 100 and Either MATH 105, MATH 109, or Math 123
FLC Area V
Core Area II: Understanding Self, Society, and Nature
ECON 102 Introduction to Macroeconomics
ECON 102 Introduction to Macroeconomics
Introduces principles of macroeconomics and their applications. Topics include 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
FLC Area V
Core Area II: Understanding Self, Society, and Nature
ECON 311 Microeconomic Theory
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
OR ECON 321 Managerial Economics
ECON 321 Managerial Economics
Develops in students the capacity to analyze the economic environment in which firms make decisions, as well as to apply economic reasoning to organizations' internal decision making. In doing so, this class bridges the gap between economic theory and practice.
3 credits
Prerequisites: ECON 101 and ECON 102
ECON 312 Macroeconomic Theory
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
OR BADM 328 Business, Government, and Society
BADM 328 Business, Government, and Society
Provides an introductory examination primarily of macroeconomic theory and policy. Its purpose is to assist non-economists in dealing with real world economic issues. The course deals with such topics as economic growth, money and taxes, the balance of payments, exchange rates, international trade, business cycles, and financial markets.
3 credits
Prerequisites: ECON 101 and ECON 102
MATH 110 Introduction to Statistics
MATH 110 Introduction to Statistics
Presents the basic principles of statistics with applications to the social sciences. Topics include descriptive statistics, probability theory, normal and binomial distributions, and central limit theorem, with an introduction to the use of statistical software. Formerly MAT 110 Introduction to Statistics.
3 credits
General Education: Knowledge and Inquiry Area
Prerequisites: MATH 108, MATH 109 or higher level mathematics course
Elective Courses (6 credits)
TWO additional upper-level (200 or 300-level) courses in economics
Program Policies
Advanced Placement:
Advanced Placement scores of 4 or 5 will be accepted for credit by the Economics Program to satisfy ECON 101 Introduction to Microeconomics
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: ECON 100 and Either MATH 105, MATH 109, or Math 123
FLC Area V
Core Area II: Understanding Self, Society, and Nature
and ECON 102 Introduction to Macroeconomics
ECON 102 Introduction to Macroeconomics
Introduces principles of macroeconomics and their applications. Topics include 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
FLC Area V
Core Area II: Understanding Self, Society, and Nature
.
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 for economics majors, a comprehensive project to be completed under the direction of program faculty, is a component of ECON 499 Senior Seminar in Economics
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
. 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. Transferring students who wish to major in economics must take at least six economics courses at Trinity, one of which must be ECON 499 Senior Seminar in Economics
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
. Acceptance of transfer courses is dependent upon program review and approval.
Course Descriptions
ECON 100 Principles of Economics
ECON 100 Principles of Economics
Introduces the basic principles of economics to students with no prior economic training and provides foundational skills for Economics 101 and Economics 102.
3 credits
General Education Requirement: Knowledge and Inquiry
ECON 101 Introduction to Microeconomics
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: ECON 100 and Either MATH 105, MATH 109, or Math 123
FLC Area V
Core Area II: Understanding Self, Society, and Nature
ECON 102 Introduction to Macroeconomics
ECON 102 Introduction to Macroeconomics
Introduces principles of macroeconomics and their applications. Topics include 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
FLC Area V
Core Area II: Understanding Self, Society, and Nature
ECON 103 Current Issues in Microeconomics
ECON 103 Current Issues in Microeconomics
Analyzes current topics in applied microeconomics as a way of introducing students to basic economic theory and to the questions addressed by the discipline.
3 credits
FLC Area V
ECON 104 Current Issues in Macroeconomics
ECON 104 Current Issues in Macroeconomics
Analyzes current topics in applied macroeconomics as a way of introducing students to basic economic theory and to the questions addressed by the discipline.
3 credits
FLC Area V
ECON 221 Environmental Economics
ECON 221 Environmental Economics
Analyzes the theoretical principles of environmental economics. Topics include the valuation of and the demand for environmental goods, the basic theory of markets and market failure in the presence of externalities, and private and government solutions to market failure. Formerly ECO 235.
3 credits
Prerequisites: ECON 101 and ECON 102 or permission of the instructor
FLC Area V
ECON 223 Women in the Economy
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 and ECON 102 or permission of the instructor
FLC Area V
ECON 224 Public Finance
ECON 224 Public Finance
Analyzes the theoretical 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 and ECON 102 or permission of the instructor
ECON 226 Labor Economics
ECON 226 Labor Economics
Analyzes the theoretical principles of labor market processes, including 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 and ECON 102 or permission of he instructor
ECON 241 Money and Banking
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 and ECON 102 or permission of the instructor
ECON 253 Issues in Economic Development
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 or permission of the instructor
FLC Area V
ECON 299 Honors Seminar: Special Topics in Economics
ECON 311 Microeconomic Theory
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
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 321 Managerial Economics
ECON 321 Managerial Economics
Develops in students the capacity to analyze the economic environment in which firms make decisions, as well as to apply economic reasoning to organizations' internal decision making. In doing so, this class bridges the gap between economic theory and practice.
3 credits
Prerequisites: ECON 101 and ECON 102
ECON 351 International Trade
ECON 351 International Trade
Examines the economic theory 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 and ECON 102 or permission of the instructor
FLC Area V
ECON 353 International Finance
ECON 353 International Finance
Examines the economic theory of global 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 and ECON 102 or permission of the instructor
ECON 361 Mathematical Economics
ECON 361 Mathematical Economics
Covers mathematical principles required for students to perform advanced economic analyses.
3 credits
Prerequisites: ECON 101, ECON 102, MATH 110 and MATH 125
ECON 371 Econometrics
ECON 371 Econometrics
Covers mathematical principles required for students to perform advanced economic analyses.
3 credits
Prerequisites: ECON 101, ECON 102, MATH 110 and MATH 125
ECON 399 Trading Spaces: Migration, Narration, Economics
ECON 399 Trading Spaces: Migration, Narration, Economics
Examines migration, humanity's ceaseless ebb and flow across all the spaces of the globe, through the twin lenses of literature and economics. In literature, we explore narratives of men and women driven to ""trade spaces"" through various intersections of necessity and desire. Through economics, we examine the socioeconomic patterns that underlie wide-scale relocations of peoples, from the industrialization of early modern Western economies to the global trade in women of the post-modern era.
3 credits
Prerequisites: Honors Program or permission of Instructor
FLC Seminar II
Cross-listed with ENGL 399
ECON 491 Internship
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 at least second semester junior status. 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: ECON 101 and ECON 102 or permission of instructor
ECON 498 Independent Study
ECON 498 Independent Study
Allows students to pursue an independent avenue of study under the direction of a faculty member.
3 credits
Prerequisites: ECON 101 and ECON 102 or permission of instructor
ECON 499 Senior Seminar in Economics
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