2019-2020 Undergraduate Catalog [ARCHIVED CATALOG]
Economics
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Philp G. Gayle, Head
Professors: Blankenau, Cassou, Chang, da Silva, and Gayle
Associate Professors: Bachmeier, Lee, and Shen
Assistant Professors: Cassidy, Gaulke, Kuester, Milton, and Wang
Instructors: Al-Hamdi, Freeman, and Ross
Adjunct Professor: Cha
Professor Emeritus: Babcock, Gormely, Oldfather, Olson, Thomas, and Weisman
327 Waters Hall
785-532-7357
Fax: 785-532-6919
E-mail: econ@k-state.edu
www.k-state.edu/economics
Economics studies the principles guiding the best use of resources. Important topics in economics include production; consumer choice; the distribution of income; and the causes of economic growth, recessions, and inflation.
Many economists analyze data to determine underlying relationships and trends, to predict the consequences of government policy, or to develop forecasts of future activity. Such work involves mathematics or statistics and often deals with current issues.
Students may pursue specialized study in economic theory, money and banking, public finance, labor economics, international trade, economic development, transportation, econometrics, regional economics, industrial organization, and economic systems.
A student majoring in economics may earn either the bachelor of arts or the bachelor of science degree. In earning a B.A. or B.S. degree, students choose between the general option and four different specialized tracks. The general degree is designed for flexibility. It works well for those who want to choose their own area of emphasis or perhaps earn a second major in another field. Many students prefer to specialize in a more narrow area of economics and choose one of the tracks within the major. The tracks are designed to give students the opportunity to develop those skills most relevant to a specific area within economics.
Accelerated undergraduate and graduate programs
Students who begin graduate work after completing the BA or BS degree generally require more than one year to complete work for a master’s degree. However, a five-year program leading to a BA or BS in economics at the end of four years and a master of arts in economics at the end of five years is available for promising undergraduate students. Students who have completed their junior year and have outstanding scholastic records (GPA 3.2 or higher) are invited to join the program.
Each student, in consultation with a faculty advisor, will plan an individualized program of study that meets requirements for the BA or BS and the MA degrees. Features of the program include participation in research as an undergraduate and enrollment in graduate level courses in the senior year. Students participating in the program will be considered for financial assistance in the form of scholarships, fellowships, research assistantships, and part-time work.
Bachelor of Arts/Bachelor of Science
Concurrent
Non-Degree
Economics
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ECON 110 - Principles of Macroeconomics Credits: 3
Basic facts, principles, and problems of economics; determination of the level of output, employment, and the price level; the monetary and banking system; problems and policies of economic instability, inflation, and growth; principles of economic development; other economics systems.
Requisites
Prerequisite: Probability of a grade of C or higher (PROB ≥ C) of at least 40 percent according to the economics component if the ACT Student Profile, a score of 18 or higher on the Math placement exam, or a Grade of B or higher in MATH 010.
Typically Offered
Fall, Spring, Summer
K-State 8
Global Issues and Perspectives
Social Sciences
KSIS Course Search
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ECON 111 - Principles of Macroeconomics - Honors Credits: 3
Basic facts, principles, and problems of economics; determination of the level of output, employment, and the price level; the monetary and banking system; problems and policies of economic instability, inflation, and growth; principles of economic development; other economics systems.
Requisites
Prerequisite: Participation in honors program and consent of instructor.
K-State 8
Global Issues and Perspectives
Social Sciences
KSIS Course Search
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ECON 120 - Principles of Microeconomics Credits: 3
Basic facts, principles, and problems of economics including study of the determination of prices; the determination of wages, rent, interest, and profit; theory of the firm; monopoly and government regulation; international economic relations.
Requisites
Prerequisite: Probability of a grade of C or higher (PROB ≥ C) of at least 40 percent according to the economics component of the ACT Student Profile, a score of 18 or higher on the Math Placement Exam, or a grade of B or higher in MATH 010.
Typically Offered
Fall, Spring, Summer
K-State 8
Social Sciences
KSIS Course Search
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ECON 399 - Honors Seminar in Economics Credits: 3
For sophomores in honors program-scheduled irregularly. Readings and discussions.
Note
Open to students in the honors program not majoring in economics.
K-State 8
Global Issues and Perspectives
Social Sciences
KSIS Course Search
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ECON 401 - Sophomore/Junior Seminar in Economics Credits: 1
An introduction to economics as a science and a profession. The course introduces students to the skills and tools that make economics an attractive and enjoyable field as well as an overview of economic data and current debates.
Note
Open only to economics majors and those contemplating an economics major.
Requisites
Prerequisite: ECON 110 and ECON 120.
K-State 8
Social Sciences
KSIS Course Search
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ECON 499 - Honors Project Credits: 3
Open only to Arts and Sciences students who are active members of the University Honors Program.
Note
May be repeated.
Typically Offered
Fall, Spring, Summer
K-State 8
Social Sciences
KSIS Course Search
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ECON 505 - South Asian Civilizations Credits: 3
Interdisciplinary survey of the development of civilization in India, Pakistan, Sri Lanka, Bangladesh, and Afghanistan, including geography, history, religion, culture, language, literature, current economy, and significant social movements.
Note
May not be counted toward economics major or minor.
Requisites
Prerequisite: Three hours of social science or junior standing.
Typically Offered
Spring
Cross-listed
ANTH 505, GEOG 505, HIST 505, POLSC 505, SOCIO 505
K-State 8
Global Issues and Perspectives
Social Sciences
KSIS Course Search
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ECON 507 - The Japanese Economy Credits: 3
Analyzes Japan’s growth, productivity change, income distribution, government policies, agriculture, industrial structure, labor relations education and technology, and international trade and finance. Emphases will be on U.S.-Japanese competition and comparisons.
Requisites
Prerequisite: ECON 110.
Typically Offered
Fall
K-State 8
Global Issues and Perspectives
Social Sciences
KSIS Course Search
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ECON 510 - Intermediate Macroeconomics Credits: 3
An examination of the behavior of the economy as a whole, including an analysis of the national income account, consumption, investment, money, interest, the price, level, the level of employment, monetary and fiscal policy, and economic growth.
Requisites
Prerequisite: ECON 110, and one of the following, ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Fall, Spring, Summer
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 520 - Intermediate Microeconomics Credits: 3
An examination of the theories of consumer behavior and demand, and the theories of production, cost, and supply. The determination of product prices and output in various market structures, and an analysis of factor pricing. Introduction to welfare economics.
Note
Students cannot receive credit for both ECON 520 and ECON 521.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Fall, Spring, Summer
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 521 - Intermediate Microeconomic Theory Credits: 3
A mathematical approach to intermediate microeconomics. Emphasis is placed on the use of optimization techniques to examine consumer demand, production and cost, behavior of the firm, market structure and welfare.
Note
Students cannot receive credit for both ECON 520 and ECON 521.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121; and MATH 205 or 220.
Typically Offered
Fall
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 523 - Human Resource Economics Credits: 3
An introduction to the economic forces influencing wage and employment determination, income differentials, unemployment, and the production and acquisition of human capital. Emphasis on public policy, labor unions, and other relevant institutions.
Note
May not be counted toward economics major.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Spring
K-State 8
Social Sciences
KSIS Course Search
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ECON 524 - Sports Economics Credits: 3
An economic analysis of professional and amateur sports. Pay determination of professional athletes, monopsony power of owners, discrimination, the importance of leagues, competitive balance, antitrust issues, collective bargaining, the financing of sports stadiums, and current economic issues in sports.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Fall, Spring
K-State 8
Social Sciences
KSIS Course Search
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ECON 527 - Environmental Economics Credits: 3
Economics of environmental market failure and the efficient use of exhaustible and renewable resources. Topics include the application of markets and government policies to greenhouse warming, air and water pollution, and recycling.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121.
K-State 8
Social Sciences
KSIS Course Search
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ECON 530 - Money and Banking Credits: 3
Nature, principles, and functions of money; development and operation of financial institutions in the American monetary system, with emphasis on processes, problems, and policies of commercial banks in the United States.
Requisites
Prerequisite: ECON 110.
Typically Offered
Fall, Spring, Summer
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 532 - Fiscal Operation of State and Local Government Credits: 3
Designed for students who plan careers related to state or local government. Selected topics in state and local taxation and expenditure.
Requisites
Prerequisite: ECON 110 and permission of instructor.
K-State 8
Social Sciences
KSIS Course Search
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ECON 536 - Comparative Economics Credits: 3
The transition by Russia, Ukraine, Eastern and Central Europe, and Central Asia to market economics; economic reform in China, India, and other countries; and Marxian critiques of capitalism.
Requisites
Prerequisite: ECON 110 or ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Fall
K-State 8
Global Issues and Perspectives
Social Sciences
KSIS Course Search
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ECON 540 - Managerial Economics Credits: 3
Microeconomic topics applicable to understanding and analyzing firm behavior: optimization, demand, estimation, production, and cost theory. Applications to business problems.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121; and an introductory-level statistics course (STAT 325, STAT 340, or STAT 350); and MATH 205 or MATH 220.
Typically Offered
Fall, Spring, Summer
K-State 8
Social Sciences
KSIS Course Search
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ECON 555 - Urban and Regional Economics Credits: 3
An examination of the determinants of the economic performance of urban and regional economies, including theory, problems, and policy.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Fall
K-State 8
Social Sciences
KSIS Course Search
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ECON 580 - Senior Seminar in Economics Credits: 3
Topics for class discussion include history of economic thought, research methods in economics, and current economic issues. Students will prepare and present papers written with faculty guidance.
Note
Required of all economics majors.
Requisites
Prerequisite: ECON 510; and ECON 520 or ECON 521; and STAT 351, or STAT 511 or STAT 705 or concurrent enrollment in one of the three. ECON majors only.
Typically Offered
Fall, Spring
K-State 8
Ethical Reasoning and Responsibility
Global Issues and Perspectives
KSIS Course Search
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ECON 595 - Problems in Economics Credits: 1-18
Individual study is offered in international trade, labor relations, money and banking, public finance, transportation, general economics.
Note
May be repeated.
Typically Offered
Fall, Spring, Summer
K-State 8
Social Sciences
KSIS Course Search
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ECON 599 - Topics in Economics Credits: 1-3
Courses on special topics to be taught on demand.
Note
Repeatable.
Requisites
Prerequisite: To be set for each topic.
Typically Offered
On sufficient demand
K-State 8
None
KSIS Course Search
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ECON 605 - Economic Applications of Game Theory and Strategic Behavior Credits: 3
Basic principles of game theory including Nash equilibria, repeated games, and strategy with incomplete information.
Note
Lecture course.
Requisites
Prerequisite: ECON 520 or 521; and MATH 205 or MATH 220.
Typically Offered
Fall, Spring
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 620 - Labor Economics Credits: 3
Economics of the labor market–theory and empirical evidence. Labor force composition and trends, labor supply, labor demand, human capital, wage differentials, migration, trade unions, and current issues.
Requisites
Prerequisite: ECON 520 or ECON 521.
Typically Offered
Fall
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 627 - Contemporary Labor Problems Credits: 3
Emphasis on current research and public policies dealing with such matters as full employment, poverty, discrimination, social security, unemployment insurance, health care, minimum wages, training, and education.
Requisites
Prerequisite: ECON 620 or consent of instructor.
K-State 8
Social Sciences
KSIS Course Search
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ECON 630 - Introduction to Econometrics Credits: 3
An introduction to the analytical and quantitative methods used in economics. Applications to specific problems with an emphasis on computer analyses.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121; and MATH 205 or 220; and STAT 351 or AGEC 501 or STAT 511 or STAT 705.
Typically Offered
Spring
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 631 - Principles of Transportation Credits: 3
Examines the transportation market from the shippers’ point of view by examining the impact of transportation on business firm decisions such as location, markets, and prices. Also covers the costs, prices, and service characteristics of railroads, motor carriers, water carriers, oil pipelines and airlines. The role and impact of government in the transportation market is examined from both a promotion and regulation perspective.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Fall, Spring
K-State 8
Social Sciences
KSIS Course Search
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ECON 633 - Public Finance Credits: 3
Course seeks answers to questions such as: Which goods should be provided by the private sector and which by the public sector (government)? With what criteria are public expenditures evaluated? What is an equitable and efficient tax system? Who bears the tax burden? What aspects of existing taxes need reform?
Requisites
Prerequisite: ECON 110, and ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Spring
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 640 - Industrial Organization and Public Policy Credits: 3
An examination of measures and determinants of industrial concentration, and an analysis of market structure, conduct, and performance, and policies related to performance.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Some Spring
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 681 - International Trade Credits: 3
Principles of international trade, determinants of the value of trade between any pair of countries, sources of gains from trade, main factors determining the pattern of trade, commercial policy, the political economy of trade and strategic trade policy.
Requisites
Prerequisite: ECON 110 and one of the following: ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Fall, Spring
K-State 8
Global Issues and Perspectives
Social Sciences
KSIS Course Search
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ECON 682 - Development Economics Credits: 3
Factors affecting the economic modernization of the less-developed countries. Emphasis on capital formation, human capital, investment allocation, technical progress, income distribution, population growth, and the international economics of development.
Requisites
Prerequisite: ECON 110.
Typically Offered
Fall
K-State 8
Global Issues and Perspectives
Social Sciences
KSIS Course Search
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ECON 684 - International Finance and Open Economy Macroeconomics Credits: 3
Introduction to international finance and open-economy macroeconomics, including the foreign exchange market, the balance of payments, international financial markets, and recent and ongoing financial crises. Covers core theoretical material, the course will examine current policy issues.
Requisites
Prerequisite: ECON 110; and ECON 120 or AGEC 120 or AGEC 121; and ECON 510.
Typically Offered
Spring
K-State 8
Global Issues and Perspectives
Social Sciences
KSIS Course Search
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ECON 686 - Economics Forecasting Credits: 3
Focus on forecasting macroeconomic variables such as sales activity, tax revenues and other important variables. Techniques of forecasting using econometrics.
Requisites
Prerequisite: ECON 110; and ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Spring
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 688 - Health Economics Credits: 3
This course applies the tools of microeconomics to the health-care sector. It analyzes the behavior of consumers and providers of medical care, the functioning of insurance markets, and the roles of government and the private sector. International comparisons are made.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
Fall, odd years
K-State 8
Social Sciences
KSIS Course Search
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ECON 690 - Monetary, Credit, and Fiscal Policies Credits: 3
Goals of aggregative economic policy, conflicts among goals, and measures to resolve conflicts; money markets; targets of central bank control; the relative strength of monetary and fiscal policies; rational expectations hypothesis and policy ineffectiveness debate; terms structure of interest rates.
Requisites
Prerequisite: ECON 530.
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 695 - Undergraduate Research Methods in Economics Credits: 3
Development of a research proposal and completion of a research project under the guidance of a faculty member. Instruction in research design, methods and data. The independent-work phase of the course will be structured with weekly targets for completing economic theory, data/case study description, methods description and analysis and interpretation.
Requisites
Prerequisite: ECON 110; and ECON 120 or AGEC 120 or AGEC 121; and ECON 630.
Some prerequisites may be waived with instructor consent.
Typically Offered
Fall
K-State 8
Empirical and Quantitative Reasoning
Social Sciences
KSIS Course Search
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ECON 699 - Seminar in Economics Credits: 1-3
Seminars of special interest will be offered on demand.
Note
May be repeated.
Requisites
Prerequisite: ECON 120 or AGEC 120 or AGEC 121.
Typically Offered
On sufficient demand
K-State 8
None
KSIS Course Search
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ECON 710 - History of Economic Thought Credits: 3
Development of economic ideas and doctrines and the relation of these to conditions existing when they were formulated.
Requisites
Prerequisite: ECON 510.
K-State 8
None
KSIS Course Search
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ECON 720 - Microeconomic Theory Credits: 3
Demand, cost, and production theories; price and output determination in different market structures; the theory of factor market pricing; an introduction to general equilibrium and welfare analysis.
Requisites
Prerequisite: ECON 520 or ECON 521; and MATH 205 or MATH 220.
Typically Offered
Fall
K-State 8
None
KSIS Course Search
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ECON 730 - Applied Econometrics Credits: 3
Emphasis on applied econometrics methods. Topics include simple and multiple linear regression as well as other econometric models used in economics. Diagnosis and remedies of potential problems with linear models and data, leading to quantitative answers to empirical questions.
Typically Offered
Spring
KSIS Course Search
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ECON 735 - Mathematical Economics Credits: 3
Application of mathematical tools of concrete problems in micro- and macro-economics; mathematical treatment of models of consumption, production, market equilibrium, and aggregate growth.
Requisites
Prerequisite: ECON 520; and MATH 205 or MATH 220.
Typically Offered
Fall
K-State 8
None
KSIS Course Search
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