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Economics
| Department Information |
Department of Economics
College of Business and Economics
Office: Valley Business and Technology Center, Rm. 342
Phone: (510) 885-3265
• Student Service Center: (VBT 129, 510-885-3323)
| Email: cbe_ssc@csueastbay.edu Website: http://www.cbe.csueastbay.edu | |||||
Professor Emeritus David J. St. Clair, Ph.D. University of Utah Professors James C. W. Ahiakpor, Ph.D. University of Toronto (Canada) Gregory B. Christainsen, Ph.D. University of Wisconsin, Madison Leo Kahane, Ph.D. Columbia University Anthony K. Lima, Ph.D. Stanford University Jane E. Lopus, Ph.D. University of California, Davis Nan L. Maxwell (Chair), Ph.D. Florida State University Lynn C. Paringer, Ph.D. University of Wisconsin, Madison Stephen Shmanske, Ph.D. University of California, Los Angeles Assistant Professor Ming-Hsuan (Michelle) Lee, Ph.D. Boston University Lecturer M. David Yaar, Ph.D. Cologne University (Germany) | |||||
Please consult the 2009-2010 online catalog for any changes that may occur.
| Program Description |
The Economics major prepares the student for a broad variety of careers including those in law, journalism, banking and insurance, government, teaching, and research. In addition, the study of economics has become essential in today's dynamic and complex business environment.
An Economics education provides the student with a logical way of approaching various problems and issues and provides qualitative skills valued highly by employers. The student learns techniques for analyzing contemporary economic problems and develops the ability to exercise sound judgement in evaluating public policy issues. Many of these skills are useful in daily decision-making irrespective of career choice. The broad background developed with the Economics major encourages the student to become an interested, understanding observer of the events of today's and tomorrow's world.
Student Learning Outcomes
Students graduating with a B.A. in Economics from Cal State East Bay will: 1) demonstrate a basic understanding of microeconomic and macroeconomic theory and econometrics; 2) demonstrate the ability to present orally a coherent, logical economic argument grounded in economic theory; 3) demonstrate the ability to present a coherent, logical economic argument grounded in economic theory and methods in writing; 4) use appropriate computer technologies to develop research problems and present written and oral economic arguments.
| Career Opportunities |
Accountant • Analyst • Business Executive • Economist • Employment Researcher/Planner • Financial Consultant • Foreign Service Officer • Financial Analyst • Management Analyst • Market Research Analyst • Policy Analyst • Professor/Teacher • Public Policy Analyst • Securities Analyst • Statistical Analyst • Statistician • Stockbroker
| Features |
The weekly Workshop in Economics Research (ECON 4895) provides a forum for presenting and debating faculty research and for inviting U.S. and international specialists in economics and management to discuss their research and published work. Some of the visiting speakers are sponsored by the Smith Center for Private Enterprise Studies which was started with a donation of more than $1,000,000 from Owen and Erma Smith of Castro Valley. Undergraduate Economics students are required to attend the workshop for two quarters for credit, usually in the senior year.
| Preparation |
For Advanced Placement course equivalencies, see Registration chapter.
| Major Requirements (B.A.) |
Please consult an advisor in your major department for clarification and interpretation of your major requirements. The major consists of 61-94 units; the B.A. degree requires a total of 180 units. Students receiving a B.A. degree major in Economics from this university must complete one of the following four options: Accounting, General Economics, Social Science Economics, or Statistical Economics.
Students can choose to complete two options as long as the two options differ by three courses. In most cases, this means taking three additional economics courses.
Because all upper division Economics courses contain a writing component, it is strongly recommended that students complete their University Writing Skills Requirement before their junior year. Students are encouraged to improve these skills by taking MKTG 3495 (Business Communication). See the Business Administration chapter in the undergraduate programs section of this catalog for a course description.
Accounting Option (94 units)
The Accounting option provides students with general exposure to the operation of the external environment to the firm (the economy) while also providing them with the accounting tools necessary to operate in a wide variety of private organizations and to obtain a C.P.A.
Note: Academic Renewal is allowed only once per Accounting option course for students pursuing the Accounting option.
| I. | Lower Division Core (25 units) | ||||
| PC proficiency test ACCT 2251 Financial Reporting and Analysis (4) ACCT 2253 Accounting for Management Decision-Making (4) ECON 2301 Principles of Microeconomics (4) ECON 2302 Principles of Macroeconomics (4) MATH 1810 Mathematics for Business and Social Sciences I or MATH 1304 Calculus I (4) STAT 2010 Elements of Statistics for Business and Economics (5) or STAT 1000 Elements of Probability and Statistics (5) | |||||
| II. | Upper Division Core (36 units) | ||||
ACCT 3170 Information Technology in Business (4) or ACCT 4704 Financial Reporting Systems: Design and Implementation (4) ACCT 3211 Intermediate Financial Accounting I (4) ACCT 3212 Intermediate Financial Accounting II (4) ACCT 3213 Intermediate Financial Accounting III (4) ACCT 3220 Tax Accounting: Fundamentals and Individuals (4) or ACCT 4220 Tax Accounting: Corporate Tax (4)  ECON 3000 Micro-Economic Theory (4) or ECON 3551 Managerial Economics and Business Strategy (4) ECON 3005 Macro-Economic Theory (4) or ECON 3006 Macro-Economics for Business (4) ECON 3310 Money, Banking, and Financial Intermediaries (4) ECON 4400 Introduction to Econometrics (4) | |||||
| III. | Electives (32 units) | ||||
| Upper Division Accounting (12 units) Select three ACCT 3000-4000 level accounting courses beyond those listed as required (excluding ACCT 3228, 3898, 4226, 4227, 4900, 4915). Upper Division Economics (20 units) Select six upper division economics courses (excluding ECON 3551). | |||||
| IV. | Capstone (1 unit) | ||||
| ECON 4896 Senior Research (1). | |||||
| V. | Culminating Experience | ||||
| Pass a multiple choice examination grounded in micro- and macro-economic principles. | |||||
| I. | Lower Division Core (17 units) | ||||
| ECON 2301 Principles of Microeconomics (4) ECON 2302 Principles of Macroeconomics (4) MATH 1810 Mathematics for Business and Social Sciences I (4) or MATH 1304 Calculus I (4) STAT 2010 Elements of Statistics for Business and Economics (5) or STAT 1000 Elements of Probability and Statistics (5) Note: Students considering graduate school should take MATH 1304. MATH 1305, Calculus II, is recommended. | |||||
| II. | Upper Division Core (22 units) | ||||
| Complete the following courses as soon as possible after the lower division core has been satisfied. | |||||
| ECON 3000 Micro-Economic Theory (4) ECON 3005 Macro-Economic Theory (4) ECON 3310 Money, Banking, and Financial Intermediaries (4) ECON 4000 Mathematical Economics (4) ECON 4400 Introduction to Econometrics (4) ECON 4895 Workshop in Economic Research (1) (must be taken 2 times) | |||||
| Note: Students completing a double major in Economics and Business Administration may substitute ECON 3551 for ECON 3000. | |||||
| III. | Electives (24 units) | ||||
| Six upper division Economics courses, excluding ECON 3551. | |||||
| IV. | Capstone (1 unit) | ||||
| ECON 4896 Senior Research (1). | |||||
| V. | Culminating Experience | ||||
| Pass a multiple choice examination grounded in micro- and macro-economic principles. | |||||
The Social Science Economics option provides an avenue for students interested in the social science aspects of economics and provides a rigorous and well-rounded economics program that emphasizes its social science underpinnings.
| I. | Lower Division Core (17 units) | ||||
| ECON 2301 Principles of Microeconomics (4) ECON 2302 Principles of Macroeconomics (4) MATH 1130 College Algebra (4) STAT 2010 Elements of Statistics for Business and Economics (5) or STAT 1000 Elements of Probability and Statistics (5) | |||||
| II. | Upper Division Core (20 units) | ||||
| ECON 3000 Microeconomic Theory (4) ECON 3005 Macroeconomic Theory (4) or ECON 3006 Macroeconomics for Business (4) ECON 3310 Money, Banking, and Financial Intermediaries (4) Select two of the following three: SOC 3000 Introduction to Sociological Research (4), HIST 3017 The Twentieth Centruy (4), or POSC 3300 Voting and Public Opinion (4) | |||||
| III. | Electives (24 units) | ||||
| Upper Division Economics (16 units) | |||||
| Select four upper division economics courses, excluding ECON 3551, 3898, and 4900. | |||||
| Upper Division Social Science (8 units) | |||||
| Select two courses from the following: | |||||
| HIST 3020 Modern Imperialism and Colonialism (4) HIST 3170 Europe in the 20th Century (4) HIST 3224 The Cold War (4) HIST 3305 Modern South Asia (4) HIST 3345 The Modern Middle East (4) HIST 3417 Cold War America (4) HIST 3550 The History of U.S. Foreign Relations (4) HIST 3605 Modern Latin America (4) POSC 3120 State and Local Politics and Government (4) POSC 3130 Urban Politics (4) POSC 3418 U.S. Immigration Policy and Law (4) POSC 3419 Labor Policy and Law (4) POSC 3460 Environmental Law (4) POSC 3470 International Law (4) POSC 3500 World Problems and Global Response (4) POSC 3505 American Foreign Policy (4) POSC 3520 International Relations (4) POSC 3521 Politics of the Global Economy (4) POSC 3704 Marxism in Theory and Practice (4) POSC 3800 Public Policy Analysis (4) POSC 3870 Public Personnel Management (4) POSC 4861 Politics of Budgeting (4) SOC 3200 Social Demography (4) SOC 3420 Social Inequality (4) SOC 3431 Seminar in World Development (4) SOC 3520 Sociology of Minority Groups (4) SOC 3880 Work and Professions (4) SOC 3890 Sociology of Organizations (4) SOC 4450 Urban Sociology (4) SOC 4720 Medical Sociology (4) | |||||
| IV. | Capstone (1 unit) | ||||
| ECON 4896 Senior Research (1). | |||||
| V. | Culminating Experience | ||||
| Pass a multiple choice examination grounded in micro- and macro-economic principles. | |||||
The Statistical Economics option is intended for students who wish to pursue graduate studies in economics. It will also appeal to students who are interested in statistics, but want a more applied focus to their degree.
| I. | Lower Division Core (16 units) | ||||
| ECON 2301 Principles of Microeconomics (4) ECON 2302 Principles of Macroeconomics (4) MATH 1304, 1305 Calculus I, II (8) | |||||
| II. | Upper Division Core (32 units) | ||||
| ECON 3000 Micro-Economic Theory (4) ECON 3005 Macro-Economic Theory (4) or ECON 3006 Macro-Economics for Business (4) ECON 3310 Money, Banking, and Financial Intermediaries (4) ECON 4000 Mathematical Economics (4) ECON 4400 Introduction to Econometrics (4) or STAT 4601 Regression (4) STAT/MATH 3401 Introduction to Probability Theory I (4) STAT/MATH 3502 Statistical Inference I (4) STAT 3900 Data Analysis Using Statistical Packages (4) or STAT/ECON 4950 Advanced Statistical Packages for Data Analysis (4) Notes: | |||||
| STAT/MATH 3401 can replace STAT 1000 as a prerequisite to ECON 3000 and 4400. STAT 4601 has two prerequisites: STAT/MATH 3503 (4) or STAT 4000 (4). | |||||
| III. | Electives (20 units) | ||||
| Upper Division Economics (12 units) | |||||
| Select three upper division economics courses, excluding ECON 3551, 3898, and 4900. | |||||
| Statistics (8 units) | |||||
| Select two courses from the following: | |||||
| STAT/MATH 3402 Introduction to Probability Theory II (4) STAT/MATH 3503 Statistical Inference II (4) STAT 4860-4869 Undergraduate Seminar (4) | |||||
| IV. | Capstone (1 unit) | ||||
| ECON 4896 Senior Research (1). | |||||
| V. | Culminating Experience | ||||
| Pass a multiple choice examination grounded in micro- and macro-economic principles. | |||||
| Other Degree Requirements |
In addition to major requirements, every student must also complete the University requirements for graduation which are described in the Baccalaureate Degree Requirements chapter in the front of this catalog. These include the General Education-Breadth requirements; the second composition (ENGL 1002) requirement; the cultural groups/women requirement; the performing arts/activities requirement; the U.S. history, U.S. Constitution, and California state and local government requirement; the University Writing Skills Requirement; and the residence, unit, and grade point average requirements.
| Minor Requirements |
The minor consists of 37 units. Note: A student cannot have both a Business Economics option under the Business Administration major and an Economics minor.
Note: Students must have completed the prerequisites listed in the course description for any course they use to satisfy the following requirements.
| I. | Lower Division (17 units) | ||||
| MATH 1130 College Algebra (4) ECON 2301 Principles of Microeconomics (4) ECON 2302 Principles of Macroeconomics (4) STAT 2010 Elements of Statistics for Business and Economics (5) or STAT 1000 Elements of Probability and Statistics (5) | |||||
| II. | Upper Division (20 units) | ||||
| Complete the following courses as soon as possible after the lower division requirements have been satisfied: | |||||
| ECON 3000 Micro-Economic Theory or ECON 3551 Managerial Economics and Business Strategy (4) ECON 3005 Macro-Economic Theory (4) or ECON 3006 Macro-Economics for Business (4) or ECON 3107 Global Economic Analysis (4) ECON 3310 Money, Banking, and Financial Intermediaries (4) Two elective courses in Economics (ENGR/ECON 3140 may be substituted for one) (8) | |||||
| Business Economics Option |
An option in Business Economics is provided in the Business Administration major for business students with an interest in economics. (See the Business Administration chapter in the undergraduate programs section of this catalog.)
| Undergraduate Courses |
| The course prefix for the following courses is ECON. | |
| 1000 | Economics of Public Issues (4) An introduction to economics with a focus on using economic analysis to examine current social, political, and global issues. Topics covered may include pollution, health care, crime, poverty, unemployment, and inflation. Designed for non-business and economics majors and not open to students who have taken ECON 2301 or ECON 2302. |
| 2301 | Principles of Microeconomics (4) Basic micro-economic concepts; introductory analysis of the determination of prices and output in different market situations; public policy. Prerequisites: sophomore standing and either credit for intermediate algebra or satisfactory score on the Entry-Level Math (ELM) Test. |
| 2302 | Principles of Macroeconomics (4) Basic macro-economic concepts; introductory analysis of the determination of national income and employment; money and banking; fiscal policy in a global context. Prerequisite: either credit for intermediate algebra or satisfactory score on the Entry-Level Math (ELM) Test. |
| 3000 | Micro-Economic Theory (4) Analysis of supply and demand; production and costs; price and output determination; factor pricing and income distribution; optimum resource allocation. Prerequisites: STAT 2010 or 1000; MATH 1130 and ECON 2301 with grade not lower than a "C". |
| 3005 | Macro-Economic Theory (4) Measurement and analysis of the determination of national income and employment; general price level; stabilization and growth. Prerequisites: ECON 2301, 2302, with grade not lower than a "C" in 2302. |
| 3006 | Macro-Economics for Business (4) Current topics such as inflation, employment and unemployment, interest rates, exchange rates, the business cycle, and macroeconomic policies presented in a manner most useful for business students or any student interested in real-world economic issues. Prerequisites: ECON 2301, 2302, with a grade not lower than "C" in 2302. |
| 3107 | Global Economic Analysis (4) Analysis of the microeconomics and macroeconomics of global trade, growth, development, investment, foreign exchange markets, international capital movements, global competitiveness, international treaties and laws. Prerequisites: ECON 2301, 2302, with a grade not lower than a "C" in both courses. Not open to those with credit for ECON 4700 or ECON 4705. |
| 3140 | Engineering Economy (4) (See ENGR 3140 for course description.) |
| 3150 | Economic History of the United States (4) The development of the American economy and economic institutions; emphasis on factors affecting economic growth, problems, and policies. |
| 3170 | History of Economic Thought (4) The key theories and individuals in the history of economic thought including Adam Smith, David Ricardo, and Karl Marx. Prerequisites: ECON 2301 and 2302. |
| 3200 | Comparative Economic Systems (4) Comparative study of different economic systems proposed or used to deal with the economic organization of society. Prerequisite: ECON 2301. |
| 3310 | Money, Banking, and Financial Intermediaries (4) Essentials of commercial and central banking; financial intermediaries; monetary policy. Prerequisite: ECON 2302. |
| 3370 | Public Sector Economics (4) Public sector economics; taxation, welfare economics, public goods, the rationale of government activity and collective choice. Prerequisites: ECON 2301 and 2302. |
| 3375 | Public Choice: The Economics of Politics (4) Economic theory applied to political institutions and decision-making within governments. Allocations under various property right systems; coalitions and voting behavior; theory of constitutions; theory of bureaucracy; political economy of income redistribution, crime, violence, discrimination, federalism, nationalism, anarchy. Prerequisite: ECON 2301. |
| 3500 | Urban Economics (4) Economic analysis of the forces determining an urban area's income, employment, land use, industrial structure, and public sector. Applications to issues such as housing, central city-suburban relationships, transportation, and neighborhood economic development. Prerequisite: ECON 2301. |
| 3551 | Managerial Economics and Business Strategy (4) The actions and reactions of business firms and consumers in a variety of market environments, emphasizing their strategies for optimization. Prerequisites: ECON 2301, STAT 2010 or 1000 and MATH 1810 or 1304. Course not recommended for Economics majors. |
| 3680 | Labor Economics (4) Economic analysis of labor markets, including wages and wage determination, investments in human capital, employment and unemployment. Prerequisite: ECON 2301. |
| 3898 | Cooperative Education (1-4) Supervised work experience in which student completes academic assignments integrated with off-campus paid or volunteer activities within the quarter enrolled. May be repeated for up to 8 units. No units may be counted toward the Economics major or minor. Prerequisites: At least 2.0 GPA: departmental approval of activity. Credit/No Credit grading only. (A) |
| 3999 | Issues in Economics (4) Readings, discussion, and research on contemporary and/or significant issues in economics. May be repeated for credit when content varies. |
| 4000 | Mathematical Economics (4) Application of linear algebra, differential calculus, and probability theory to microeconomic analysis. Topics include market equilibrium, properties of production functions, uncertainty, optimization methods, and comparative static analysis. Prerequisites: ECON 3000 or 3551; MATH 1810 or 1304; STAT 2010 or 1000. |
| 4306 | Environmental Economics (4) Readings, reports and discussion on economic aspects of environmental problems and alternative proposed solutions: pollution, congestion, population. Prerequisite: ECON 2301. |
| 4315 | Monetary Theory (4) Review of current literature on the demand for and supply of money; effects of monetary policy on inflation, unemployment, interest rates, and balance of payments. Prerequisite: ECON 3310. |
| 4400 | Introduction to Econometrics (4) Applications of statistical techniques to obtain quantitative estimates of relationships suggested by economic analysis. Prerequisites: ECON 2301, 2302; STAT 2010 or 1000. |
| 4520 | Industrial Organization and Public Policy (4) Factors determining industrial organization and economic behavior; operation of antitrust laws; public regulation. Prerequisite: ECON 3000 or 3551. |
| 4550 | Economics of Sports (4) Considers economic issues of sports using microeconomics and statistics. Topics include: the size, importance and unique economic and legal aspects of sports markets, public funding of amateur and professional sports, player salaries and owner-player relations, and the benefits/costs of college sports. Prerequisite: ECON 2301. |
| 4590 | Selected Topics in Economic Analysis (4) Application of economic analysis to past/contemporary economic issues. With department permission, may be repeated once for credit with a different instructor or different topics. Prerequisites: ECON 2301 or 2302; see current class schedule for which course is required. |
| 4700 | International Trade (4) Comprehensive coverage of the modern theory of international trade, foreign investment, the nature and effects of protection, multinational enterprise, world economic growth and international trading systems. Prerequisites: ECON 2301, 2302. |
| 4705 | International Finance (4) Comprehensive coverage of the organization, operation and theory of foreign exchange markets, Eurocurrency and offshore financial markets, balance of payments and international adjustment, international capital flows and different types of international monetary systems. Prerequisites: ECON 2301, 2302. (formerly ECON 4105) |
| 4710 | International Economic Development (4) Analyze the factors and theories underlying international economic development with a concentration on the nature and causes of development in Africa, Asia, Central and South America. Prerequisite: ECON 2301. (formerly ECON 4110) |
| 4895 | Workshop in Economic Research (1) Workshop activity in the preparation, presentation, and evaluation of student and faculty research projects. Content varies. May be repeated each quarter for credit. Prerequisite: at least junior standing. |
| 4896 | Senior Research (1) Development of an economic research paper that demonstrates the ability to: 1) think critically, analytically, and creatively; 2) gather, recognize, interpret, and communicate data. Prerequisites: ECON 3000 or 3551, ECON 3005 or 3006, STAT 2010 or 1000. |
| 4900 | Independent Study (1-4) |
| 4950 | Advanced Statistical Packages for Data Analysis (4) (See STAT 4950 for course description.) |
| Footnotes |
| | If ACCT 3170 is selected as a required course, ACCT 4704 may be selected as an elective. If ACCT 4704 is selected as a required course, ACCT 3170 may be selected as an elective. | |
| | If ACCT 3220 is selected as a required course, ACCT 4220 may be selected as an elective. If ACCT 4220 is selected as a required course, ACCT 3220 may be selected as an elective. | |
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© 2008 The California State University
Last Updated: August 25, 2008