Economics majors are students interested in diverse topics, including business opportunities analysis, economic development of third-world nations, environmental protection, policy evaluation, urban and regional planning, international trade and entrepreneurship.
Students majoring in economics at St. Mary's University learn how people make economic decisions and how institutions affect those decisions, both in theory and in practice.The Department of Economics offers a degree program for students interested in entering graduate or law school as well as students pursuing a career answering questions about international trade, policies in education and environmental protection, and equitable tax systems.
Major in Economics
Minor in Economics
EC 2301. Introductory Macroeconomic Theory. 3 Semester Hours.
The content of this course includes an introduction to supply and demand, production possibilities, Gross Domestic Product, consumption, savings, investment, government expenditures, taxes, money and banking, fiscal and monetary theory, classical, Keynesian, rational expectation theories, international trade and finance.
EC 2303. Introductory Microeconomic Theory. 3 Semester Hours.
The content of this course includes an introduction to supply and demand, production possibilities, product markets (perfect competition, monopoly, monopolistic competition, oligopoly) and factor markets (perfect competition, monopsony) efficiency in production and consumption, general discussion of markets.
EC 3302. World Economic Geography. 3 Semester Hours.
This course examines the spatial relationships of economic activities including production and trade. The importance of transportation, location of natural resources, and urban and regional de velopment in the United States and other nations is examined.
EC 3310. International Economics. 3 Semester Hours.
This course is a survey of international trade and international finance topics. The international trade portion will study major theories of international trade, tariff analysis, economic integration, and factor mobility. The international finance portion will examine balance of payments, foreign exchange markets, international investment, and macroeconomic stabilization. The use of the Internet as a tool of research and international business will be stressed. Social and ethical issues will also be studied and analyzed.
EC 3311. Economic Growth & Development. 3 Semester Hours.
This course introduces students to the major theories of economic growth and development. Is sues considered include rural-urban migration, capital formation, education, international trade and finance, and import substitution as factors affecting economic growth. Institutional factors and cultural values are examined.
EC 3315. Inter-American Economic Problems. 3 Semester Hours.
Examines major aspects of Latin American production, income distribution, labor force, foreign investment, and trade. Surveys major contemporary issues including the Debt Crisis and Maquiladoras.
EC 3325. Economic Thought. 3 Semester Hours.
This course considers the foundations of contemporary economic theory. Economic methodology is addressed as well as issues concerning economics and ethics. Some attention is given to ancient and medieval thought, but the major portion of the course begins with an examination of Adam Smith. The contributions of classical, neo-classical, and modern writers are considered. Issues in socio-economic teachings of the Catholic Church and economic theory are considered.
EC 3330. Money and Banking. 3 Semester Hours.
Principles of money and credit; historical development and the status of the American banking system; Federal Reserve Bank operations and policy; credit controls, debt management, and monetary policy. Theory of international monetary cooperation.
EC 3332. Financial Institutions. 3 Semester Hours.
Review of operations of financial intermediaries including banks, saving institutions, and insurance companies. Principles of money and credit; review of central banking and monetary policies, both national and international. Prerequisite: AC 2320.
EC 3340. Public Sector Economics. 3 Semester Hours.
This course applies economic theory to issues concerning the public sector. Issues such as income distribution, taxation and subsidies, poverty, education, and public goods are considered.
EC 3346. Intermediate Macroeconomic Theory. 3 Semester Hours.
This course examines classical, Keynesian, and post-Keynesian fiscal and monetary economic theory, including rational expectations. Monetarist perspectives and theories underlying money and banking are included.
EC 3347. Intermediate Microeconomics Theory. 3 Semester Hours.
The content of this course includes supply and demand, indifference curve analysis, perfect and imperfect product and factor analysis, complementary factors of productions, elementary game theory, and Coase theorem. Efficiency is considered in production and consumption in the context of constraints.
EC 3350. Labor Economics. 3 Semester Hours.
Examination of the history of the labor movement in the United States and various models of labor markets. Considers functions and types of unions, public and private employment, effects of legislation and regulation such as minimum wage, equal employment legislation, safety rules, etc., upon labor markets.
EC 3355. Economic of Natural Resources and Environment. 3 Semester Hours.
Consideration of the use of resources including water, minerals, fish and animal life, forests and air from the perspective of markets, property rights, and social benefits and costs. Considers the effects of time on economic analysis of resource use.
EC 4335. Econometrics. 3 Semester Hours.
Application of statistical methods and economic theory for empirical research in economics. Prerequisite: SC 3381 or equivalent or permission of the instructor.
EC 4340. Selected Topics in Economics. 3 Semester Hours.
Consideration of selected topics in economics. Prerequisites vary with topic. May be taken more than once if topics vary.
EC 4385. Internship in Economics. 3 Semester Hours.
Experience-based education in an approved employment activity in the public or private sector. Under the supervision of an elected, administrative, or planning official, the student will do research, analysis, evaluation, or report writing. Credit is based upon material submitted to the Internship Coordinator, evaluations by the supervisor and other measures as determined by the Coordinator.
EC 4386. Senior Project in Economics. 3 Semester Hours.
Under the direction of Economics faculty, the student will do research in a theoretical area of personal interest. Students will apply theoretical, mathematical, statistical, and computer science skills acquired in this degree program in developing the research project. The student will present the project and defend it, including the methodology used and its conclusions, before a panel of three faculty members, two of whom must be from the Economics department.
Steven Nivin, Ph.D.