http://www.newpaltz.edu/economics

Phone: (845) 257-2969
Fax: (845) 257-3581
Location: Jacobson Faculty Tower Room 814

The Department of Economics offers a program leading to a Bachelor of Art or a Bachelor of Science in Economics. It is designed to prepare students for careers in private and public sectors, non-profit organizations, and for graduate work in economics and business administration.

In addition to a broad General Economics track, students may complete prescribed clusters of upper-division elective courses to concentrate their studies in Business Economics or International Economics tracks.  Students who intend to pursue graduate study in economics are advised to complete additional courses in mathematics.

The concentration areas within the program are designed to enable students to combine a liberal arts education with their individual graduate work or career objectives. Prospective majors are strongly advised to plan their program of study in consultation with the department chair or another member of the Economics faculty.

ECO100. American Economic Development . 3 Credits.

A comprehensive chronology of American economic development from the colonial period to the present. Examination of institutional and structural changes in the process of growth. Assessment of unity and diversity in American society and how these forces have affected different groups. Analysis of evolution of America's economic relations with the rest of the world in light of contemporary globalization issues and the emerging world order.

ECO101. Feminist Perspectives on Economics. 3 Credits.

Students learn about our economic system, and basic economic concepts. As a central theme of the course, experiences of women and minority groups are considered. Students will use their daily experience and new insights to assess their economic position.

ECO130. Economics of Globalization. 3 Credits.

Introduction to the history and institutional development of globalization with a focus on Asia. Arguments and perspectives of important actors in the globalization process are outlined and evaluated on their economic and social merits using both basic economic theoretical concepts and empirical evidence in a historical context.

ECO193. Economics Selected Topics. 3-12 Credits.

.

ECO206. Principles of Microeconomics. 3 Credits.

Study of how choices made by households and firms define and affect markets for goods, services and production resources. Analysis of how prices of goods and factors of production are determined in the economy and how government policies affect economic outcomes in allocation of resources.

ECO207. Principles of Macroeconomics. 3 Credits.

Study of general economic principles and examination of the performance of the national economy. The goals and problems of high employment, price stability, growth, and the balance of payments are analyzed. Introduction to monetary and banking institutions. Application of monetary and fiscal policy analysis to current domestic and international macroeconomic issues.

ECO293. Economics Selected Topic. 3-12 Credits.

.

ECO303. Money and Banking . 3 Credits.

A general study of the nature of money and interest rates. The organization and operations of U.S. financial markets and financial intermediaries. Study of the U.S. financial institutions, and the structure of the Federal Reserve System. Examination of instruments and methods of implementing monetary policy and its effect on both domestic and international economic policy goals. Provides a global perspective by examining monetary policies of other countries.

ECO304. Public Finance . 4 Credits.

Public sector economics focuses largely on taxing and spending activities of the federal government and their influence on allocation of national resources and distribution of income. Policy perspective and international comparison integrate the economic analysis with the real world. Course projects integrate theory and evidence. The current budget of U.S. is examined in a historical context, focusing on how changes in its specific items reallocate resources.

ECO306. Intermediate Microeconomics . 3 Credits.

Study of rational behavior of consumers and producers and their interactions in the marketplace. Introduction to optimization methods and general equilibrium analysis. Rationale for government intervention in regulation of industries, provision of public goods, taxation and subsidies is analyzed. Empirical parts include data analysis using real-world examples.

ECO307. Intermediate Macroeconomics . 3 Credits.

Introduction and analysis of the national income and product accounts. Study of the determinants of the level of national income, employment, investments, economic growth, and the price level. Classical, Keynesian, and post- Keynesian explanations of unemployment and inflation. Study of business cycles. Evaluations of monetary and fiscal policy using computer simulations. Analysis of interactions between the U.S. and other world economies.

ECO309. Economic Development of Latin America. 3 Credits.

Contemporary economic problems in Latin America are explored, from colonial times to the present including integration into the world economy. Economic models and theory on growth, trade, exchange rate determination, and macroeconomic stabilization, combined with an analysis of structural characteristics of the region, are used to assess the impact of economic policy on growth and poverty in Latin America.

ECO310. Economic Development of Asia-Pacific. 3 Credits.

The economic rise of the Asia-Pacific region in the world economy in examined. An overview of the economic history and development strategies that led to the rapid economic growth in China, Japan, India. Economic theories, and growth models, highlight the causes and consequences of rapid growth in the region.

ECO311. Economics for Engineers. 3 Credits.

Application of economic theory to examine the nature and functioning of global product markets with a focus on the science and technology sector. Examination of production costs under various market structures, externalities and regulations. Principals of engineering economics and decision making.

ECO312. Labor Economics and Labor Relations . 4 Credits.

Study of different theories of wage determination and wage structures. Labor market failures and collective bargaining. Impact of the government regulations on labor-management relations. Development of unions and the practice of collective bargaining. Role of social and institutional constraints in labor markets.

ECO351. History of Economic Thought . 3 Credits.

Study of the origins and development of economic theories including pre-classical thinkers. Major schools of thought from the classical political economy of Smith and Ricardo to Marx, the Institutionalists, and to Keynes's modern macroeconomics. Inquiries into the core methodological issues and debates between successive orthodox and heterodox theories.

ECO393. Economics Selected Topic. 3-12 Credits.

.

ECO401. International Trade and Finance . 3 Credits.

Problems of economic interaction between sovereign states are analyzed from both theoretical and empirical perspectives. Topics include international trade theory -- the gains from trade and the pattern of trade, international trade policy -- protectionism and free trade agreements, exchange rate determination and international monetary systems.

ECO404. Industrial Organization. 4 Credits.

An analysis of basic market characteristics that are inherent to the products, or the result of policy manipulation. The number of sellers and their size distribution, product differentiation, advertising and conditions of entry and their relation to profits. Government policies on price fixing, price discrimination, false advertising and other anti-competitive practices. Landmark antitrust cases and current events integrate the real world with theory.

ECO405. Economics of Energy. 3 Credits.

Global and U.S. market forces affecting supply and demand of energy. Current thinking on energy economic, regulations of energy market, oil, gas, electricity, coal, alternative sources of energy and environmental issues. These subjects link actual markets with Economic models of the firm and industry.

ECO418. Economics of Development . 3 Credits.

Analytical and empirical study of socioeconomic problems facing developing countries. Topics include introduction to theoretical foundations of economic development, presentation of measurement methodologies, analysis of key resources required for successful economic development, and empirical case studies.

ECO425. Managerial Economics . 3 Credits.

Students learn how economic forces affect business organizations. They learn to apply economic theory to management decisions. Estimation and forecasting of demand, Firm’s cost analysis and output and pricing decisions under various market structures are emphasized.

ECO430. Monetary Economics. 4 Credits.

Study of the effects of money on the economy. The nature of money and the role of money supply in determining the price level, and aggregate output in the economy. Examination of whether, or to what extent, the quantity of money demanded is affected by changes in interest rates, and the role of interest rates on the aggregate economic activity.

ECO435. Econometrics. 3 Credits.

Study of the empirical estimation of economic relationships. The application of statistical methods to economic theory. Application of range of econometric techniques, including various types of regressions, and interpretation of the results.

ECO450. Senior Seminar in Economics. 3 Credits.

This capstone course prepares economics majors for either graduate school or a career track. It focuses on developing student's skills in research methods and data analysis, as well as professional writing and oral presentation. Systematic analysis of a selected topic on a current economic issue through guided readings and quantitative analysis to result in a major research paper. Fulfills the writing intensive credit requirement.

ECO493. Economics Selected Topics. 3-12 Credits.

.

ECO494. Fieldwork in Economics. 2-12 Credits.

.

ECO495. Independent Study in Economics. 1-12 Credits.

.