Economics

Economics has been called the “science of scarcity.” It is the study of how individuals allocate scarce resources for production in order to satisfy their human needs and wants. This focus on the human condition places economics firmly into the social sciences area. However the application of economic principles to problems of choice in markets and in financial decision-making also gives economics a central role in the theory of business administration and management.

The Missouri S&T economics department offers a relevant business-oriented educational experience while maintaining the social science flavor of the traditional economics degree. The curriculum is based on a broad foundational core, business and information and technology. Students majoring in economics also take up to 33 hours of economics, finance, and management courses.

The economics courses are taught rigorously and are technically-oriented. They also provide a solid social science education with studies of the social problems of market failure, monopoly, inflation, and the effectiveness of government economic and social policy. Graduated students have an excellent education with job opportunities across the spectrum including business, finance, study of the law, government and public policy.

The economics program allows for the flexibility of selecting either the bachelor of arts or bachelor of science programs, depending on which best fits your goals and skills. Either degree will provide you with the necessary skills to compete effectively in the job market or succeed in graduate school.

Students wishing to minor in economics may select from a variety of courses tailored to their own needs. Specific tracks are available in energy/technology and international economics.

Students majoring in an academic area at Missouri S&T other than economics can pursue a secondary B.A. or B.S. in economics to accompany their primary major. See the department chair of economics for more details on this academic option.

The Missouri S&T economics department has in place a cooperative bachelor of science/master of science in accounting with the College of Business and Public Administration at the University of Missouri-Columbia. A student can take at Missouri S&T up to 90 hours of the 150 hours required for the BS/MS in accounting. The remaining 60 hours must be taken at Columbia. After completing the 90 hours at Missouri S&T, the student must take the GRE exam and be admitted into the MU graduate program.

Bachelor of Arts
Economics

In addition to the general university requirements for a bachelor of arts degree, a student must complete:

  1. ECON 1100, ECON 1200, ECON 2100 and ECON 2200 with a minimum grade of “C” in each.
  2. At least 18 additional hours of economics electives, at or above the 2000 level, with a minimum grade of “C” in each.
  3. BUS 1210; and STAT 1115 or ECON 1300; and ECON 2300.

Bachelor of Arts
Economics (Secondary Education Emphasis Area)

You may earn a B.A. degree in economics from Missouri S&T and certification to teach at the secondary level in the schools of Missouri with the emphasis area program. This program can be completed in four academic years and student teaching is arranged with public schools within 30 miles of the Rolla campus.

Students interested in this emphasis area should consult with the minor advisor in the economics department.

In order to successfully complete this emphasis area, students must have at least a 22 ACT, maintain a cumulative GPA of at least 2.5, and attain at least a 2.5 GPA in all economics courses. Current Missouri S&T or transfer students who wish to pursue this emphasis area must meet both these GPA requirements to be accepted into the program. Students must also meet all requirements listed under the teacher education program of this catalog. Students who do not meet all the teacher certification requirements will not be eligible for the secondary education emphasis area, even if they have completed all course work.

A degree in this emphasis area requires 129 credit hours. The required courses are provided below. A minimum grade of ”C” is required by the department in all mathematics and statistics courses counted toward this degree.

Communications Skills: 9 semester hours
ENGLISH 1120Exposition And Argumentation3
ENGLISH 1160Writing And Research3
or ENGLISH 3560 Technical Writing
SP&M S 1185Principles Of Speech3
Humanities: 6 semester hours
Must include 6 hours from 2 of the following 3 areas: Art, Music or Theatre, Philosophy, Literature6
Social Sciences: 12 semester hours
HISTORY 1300American History To 18773
or HISTORY 1310 American History Since 1877
POL SCI 1200American Government3
PSYCH 1101General Psychology3
HISTORY 2110World Regional Geography3
Natural Sciences: 7 semester hours (including 1 lab)
Physics or Geology w/Lab4
BIO SCI 1113General Biology3
Mathematics: 3 semester hours
MATH 1120College Algebra3-5
or MATH 1140 College Algebra
or higher
Professional Requirements: 26 semester hours
EDUC 1040Perspectives In Education2
EDUC 1174School Organization & Adm For Elementary & Secondary Teachers2
EDUC 2216Teaching Reading In Content Area3
EDUC 2251Historical Foundation Of American Education3
EDUC 3280Teaching Methods And Skills In The Content Areas6
EDUC 4298Student Teaching Seminar1
PSYCH 2300Educational Psychology3
PSYCH 3311Psychological & Educational Development Of The Adolescent3
PSYCH 4310Psychology Of The Exceptional Child3
Clinical Experience: 16 semester hours
EDUC 1104Teacher Field Experience2
EDUC 1164Aiding Elementary, Middle And Secondary Schools2
EDUC 4299Student Teaching12
Economics: 30 semester hours
ECON 1100Principles Of Microeconomics3
ECON 1200Principles Of Macroeconomics3
ECON 2100Intermediate Microeconomic Theory3
ECON 2200Intermediate Macroeconomic Theory3
ECON 1300Business And Economic Statistics I3
or STAT 1115 Statistics For The Social Sciences I
or STAT 3111 Statistical Tools For Decision Making
or STAT 3113 Applied Engineering Statistics
or STAT 3115 Engineering Statistics
or STAT 3117 Introduction To Probability And Statistics
ECON 2300Economic and Business Applications3
Econ Electives (3000 or 4000 level)9
BUS 1210Financial Accounting3
Certification: 20 semester hours
HISTORY 1100Early Western Civilization3
or HISTORY 1200 Modern Western Civilization
HISTORY 2220Making Of Modern Britain3
or HISTORY 2222 The Making Of Modern France
or HISTORY 2224 Making Of Modern Russia
or HISTORY 2210 European Diplomatic History 1814 - Present
or HISTORY 3120 Ancient Greece
or HISTORY 3130 Medieval History I
or HISTORY 3135 Medieval History II
or HISTORY 3140 History Of Renaissance Thought
or HISTORY 3230 Europe In The Age Of The French Revolution And Napoleon
or HISTORY 3235 Foundations Of Contemporary Europe 1815-1914
or HISTORY 3240 Contemporary Europe
HISTORY 3320Colonial America3
or HISTORY 3325 Revolutionary America, 1754-1789
or HISTORY 3340 Age Of Jefferson And Jackson
or HISTORY 3345 Civil War And Reconstruction
or HISTORY 3360 Recent United States History
or HISTORY 3450 American Intellectual History II
or HISTORY 3425 History Of The Old South
or HISTORY 3426 History Of The Modern South
or HISTORY 3430 History of the American West
or HISTORY 3480 History Of Baseball
or HISTORY 3440 20th Century Americans In Combat
or HISTORY 3441 The United States In World War II
or HISTORY 3442 The United States in Vietnam
or HISTORY 3761 U.S. Diplomatic History to World War II
or HISTORY 3762 American Diplomatic History Since World War II
POL SCI 3760The American Presidency3

Areas of Concentration

Students are encouraged to use their electives, both in economics and in general, to develop areas of concentration beyond the core requirements. Among the possibilities are business, finance, and international affairs. Faculty advisors will assist students in establishing these curricular tracks.

Bachelor of Science
Economics

In Economics, the Bachelor of Science degrees consist of 120 credit hours. First, all undergraduate students in Economics are required to complete a prescribed General Education Requirements Core that corresponds to the recommendations of the Missouri State Coordinating Board for Higher Education and consists of 42 credit hours in the areas of Individual Expression, Natural Systems, and Human Institutions. In addition, all undergraduate students are required to complete a 39 credit hour core consisting of courses in Information Technology, Management, Quantitative Skills, and Communication Skills. A minimum grade of "C" is required for courses in both the Information Technology and the Management areas. Finally, each degree includes 19 credit hours of free electives.

The remaining 27 credit hours of the required 120 credit hours for the Economics degree are divided into a prescribed 18 credit hour degree core and 9 credit hours of specific degree electives. A minimum grade of "C" is required in these courses. The Economics degree requires courses in advanced Micro, Macro and Statistics. The electives for this degree consist of courses from areas such as Law and Economics, Money and Banking, Energy Economics and E-Commerce.

Freshman Year
First SemesterCreditsSecond SemesterCredits
ENGLISH 112013PSYCH 11013
MATH 11403MATH 12124
Free Electives3History3
BIO SCI 1113, or 2223, or 2233, or 22633IS&T 17503
Lab w/Living or Physical Science Course1ECON 1100 or 120043
 13 16
Sophomore Year
First SemesterCreditsSecond SemesterCredits
BUS 11103BUS 12103
SP&M S 11853ECON 1100 or 120043
STAT 31113Chemistry, Geol, Ge Eng, or Physics3
IS&T 15513ART 1180, or 1185, or MUSIC 1150, or THEATRE 11903
ENGLISH 1211, or 1212, or 1231, or 1221, or 1222, or 2230, or 12233Free Electives3
 15 15
Junior Year
First SemesterCreditsSecond SemesterCredits
ENGLISH 16003SP&M S 21813
FINANCE 21503ECON 220043
ECON 210043Emphasis Area Electives29
POL SCI 12003 
ECON 23003 
 15 15
Senior Year
First SemesterCreditsSecond SemesterCredits
ENGLISH 25603Free Electives13
Culture, Sociology, Religion33ECON 48603
Emphasis Area Electives29 
 15 16
Total Credits: 120
1

In-Major Writing Intensive

2

Economics Emphasis Electives 18 hours of which 12 hours must be Economics to be selected from ECON 2114, ECON 3810,ECON 3880 or at or above 3000 level Econ Lecture course and accumulate 6 hours from the following PSYCH 4700, PSYCH 4601, PSYCH 4602 or any 3000 or 4000 level Business Lecture courses.

3

ECON 3830,ENGLISH 2242,ENGLISH 2245, ENGLISH 2410, ENGLISH 3215, ENGLISH 4290, Foreign Language Beyond Second Semester, HISTORY 3321,, PHILOS 3225, PHILOS 3235, PHILOS 1175, PHILOS 4340, Any Political Science, PSYCH 4600, PSYCH 4992, Any Sociology, SP&M S 3235.

4

A Grade of "C" or better is required for ECON 1100, ECON 1200, ECON 2100, ECON 2200, and ECON 2300.

Economics Minor

Students majoring in other disciplines are encouraged to develop a minor in economics. The formal minor in economics is designed to provide students with a solid understanding of economic principles and concepts and the ability to apply this knowledge to a host of economic, public policy and business problems. This program will be of particular benefit to those students whose major field of study may lead them to pursue a management position or later graduate studies in business.

The minor in economics requires the completion of a minimum of 15 hours of economics course work with a grade of “C” or better. Required courses in the minor program include both ECON 1100 and ECON 1200 and at least one of the intermediate theory courses, ECON 2100 and/or ECON 2200. The choice of which intermediate theory course depends on which 300 level economic electives the student, in consultation with the department’s minor advisor, selects for their program.

Energy/Technology Minor

(15 hours)

Required courses:
ECON 1100Principles Of Microeconomics3
ECON 1200Principles Of Macroeconomics3
ECON 2100Intermediate Microeconomic Theory3
And 6 hours from:
ECON 4330Econometrics3
ECON 4430Cost-Benefit Analysis3
ECON 4440Environmental And Natural Resource Economics3

Global Sustainable Economics Minor

(15 hours)

Required courses:
ECON 1100
  & ECON 2100
Principles Of Microeconomics
   and Intermediate Microeconomic Theory
6
or ECON 1200
  & ECON 2200
Principles Of Macroeconomics
   and Intermediate Macroeconomic Theory
ECON 4641Foundations of Sustainability3
And 6 hours from:
ECON/MIN ENG 3512Mining Industry Economics3
ECON 4440Environmental And Natural Resource Economics3
ECON 4642Introduction to Global Eco- and Social-preneurship and Innovation3
ECON 4730Economic Development3
ECON 4540Energy Economics3
ENV ENG 5640Environmental Law And Regulations3
ENV ENG 5642Sustainability, Population, Energy, Water, and Materials3
HISTORY 3470American Environmental History3
PSYCH 4730Environmental Psychology3

International Economics Minor

(15 hours)

Required courses:
ECON 1100Principles Of Microeconomics3
ECON 1200Principles Of Macroeconomics3
ECON 2200Intermediate Macroeconomic Theory3
And 6 hours from:
ECON 4710International Trade3
ECON 4730Economic Development3
ECON 4350Statistical Models in Actuarial Science3

ECON 1000 Special Problems (IND 1.0-6.0)

Problems or readings on specific subjects or projects in the department. Prerequisite: Consent of instructor required.

ECON 1001 Special Topics (IND 0.0-6.0)

This course is designed to give the department an opportunity to test a new course. Variable title.

ECON 1100 Principles Of Microeconomics (LEC 3.0)

An examination of how resources and products are priced and how income is distributed within various types of market structures.

ECON 1200 Principles Of Macroeconomics (LEC 3.0)

A study of alternative strategies for managing the U.S. economy within a global environment, to attain the goals of full employment, stability and growth.

ECON 1300 Business And Economic Statistics I (LEC 3.0)

This is an introductory course in business and economic statistics. Our main objective is to familiarize the student with elementary statistical concepts within the context of numerous applications in Business and Economics. We will highlight the primary use of statistics, that is, to glean information from an available sample regarding the underlying population. Prerequisite: Math 1120 or Math 1140 with a grade of "C" or better. (Co-listed with Stat 1111).

ECON 2000 Special Problems (IND 1.0-6.0)

Problems or readings on specific subjects or projects in the department. Prerequisite: Consent of instructor required.

ECON 2001 Special Topics (LAB 0.0 and LEC 0.0)

This course is designed to give the department an opportunity to test a new course. Variable title.

ECON 2100 Intermediate Microeconomic Theory (LEC 3.0)

Analysis of demand and supply in various market environments using the theories of production, resource pricing, and distribution of income. Emphasis on efficiency attainment and the rationale for market intervention. Prerequisites: Econ 1100 and 1200.

ECON 2114 Managerial Economics (LEC 3.0)

Focuses on micro- and macroeconomic contributions to managerial decision-making, business analysis and strategy. The roles of information, economic incentives, efficient markets, profits and decision-making under risk and uncertainty will be explored in both domestic and global settings. Prerequisites: Econ 1100 & 1200.

ECON 2200 Intermediate Macroeconomic Theory (LEC 3.0)

Examines the theoretical framework of national income and product generation, and the use of this theory to construct approaches such as, monetary and fiscal policy to attain economic, political and social goals. Prerequisites: Econ 1100 and 1200.

ECON 2300 Economic and Business Applications (LAB 1.0 and LEC 2.0)

Introduction and application of basic econometric and statistical techniques to solve real business and economics problems. Practical, hands-on use of Excel and SPSS will be introduced in the course. Prerequisites: Econ 1100 or 1200; Math 1140 or higher; Stat 1115 or 3111 or 3113 or 3115 or 3117 or 5643.

ECON 3000 Special Problems (IND 0.0-6.0)

Problems or readings on specific subjects or projects in the department. Consent of instructor required.

ECON 3001 Special Topics (LAB 0.0 and LEC 0.0)

This course is designed to give the department an opportunity to test a new course. Variable title.

ECON 3512 Mining Industry Economics (LEC 3.0)

Importance of the mineral industry to national economy, uses, distribution, and trade of economic minerals, time value of money, mineral taxation, economic evaluation utilizing depreciation, depletion, and discounted cashflow concepts, social and economical significance of mineral resources. Prerequisite: Econ 1100 or 1200. (Co-listed with Min Eng 3512).

ECON 3810 Law And Economics (LEC 3.0)

Study of application of economics analysis to legal concepts, issues and reasoning. Emphasizes the use of microeconomic theory to examine questions of efficacy and efficiency of decisions emanating from three major areas of common law -property rights, contracts and torts. Prerequisite: Econ 1100 or equivalent.

ECON 3830 History Of Economic Thought (LEC 3.0)

Contributions of the classical and modern economists to the development of economic thought. Course aims at establishing a synthesis of evolving doctrines which have become the basis of currently accepted economic theory. Prerequisites: Econ 1100 and 1200.

ECON 3880 Introduction to Sports Economics (LEC 3.0)

The course uses economics to analyze the business of sports. The course is designed for students with both an introductory or broader economics background, but who have not studied the economics of sports. Topics include labor relations, stadium financing, league structure, competitive balance, amateurism, sports gambling and in-game strategy. Prerequisite: Econ 1100 or Econ 1200.

ECON 4000 Special Problems (IND 0.0-6.0)

Problems or readings on specific subjects or projects in the department. Consent of instructor required.

ECON 4001 Special Topics (LEC 0.0-6.0)

This course is designed to give the department an opportunity to test a new course. Variable title.

ECON 4010 Seminar (RSD 0.0-6.0)

Discussion of current topics.

ECON 4085 Internship (IND 0.0-6.0)

Internship will involve students applying critical thinking skills and discipline-specific knowledge in a work setting based on a project designed by the advisor and employee. Activities will vary depending on the student's background and the setting. Prerequisite: Senior status; must have completed 24 hours in major.

ECON 4120 Micro and Macro Economics Essentials (LEC 1.5)

This course is an introduction to the essentials of micro and macro economics for running a business. It is designed for students planning to enter the MBA program who need this area and for non-business students who want some business background. Credit in this course cannot be applied to any major or minor in Business, IS&T, or Economics. Prerequisite: Senior or Junior standing and 3.0 GPA required.

ECON 4130 Network Economy (LEC 3.0)

Emerging Network/Internet economy, using traditional economic tools. Topics: production and reproduction cost of information, information as an "experience good, " versions of products, switching cost, lock-in effects, market adoption dynamics, first-mover advantage, intellectual property rights. Prerequisite: Econ 1100 or Econ 1200. (Co-listed with IS&T 4257).

ECON 4230 Money And Banking (LEC 3.0)

Study of the origin, principles, and functions of money, emphasizing the role of banks in the effectuation of monetary policies geared to achieve various economic and political goals. Prerequisite: Econ 2200.

ECON 4310 Mathematical Economics (LEC 3.0)

Marginal analysis, calculus, and linear algebraic systems are applied in selected advanced topics in economics such as price theory, general equilibrium theory, input-output analysis, activity analysis, and game theory. Prerequisite: Econ 2100, 2200, and Math 1208.

ECON 4330 Econometrics (LEC 3.0)

Applied statistical analysis of economic phenomena, including identification, least squares bias, and autocorrelation with emphasis on recent estimation procedures. Prerequisites: Stat 1115 & 1116, Econ 2100 and 2200.

ECON 4350 Statistical Models in Actuarial Science (LEC 3.0)

This course covers the statistical foundation of actuarial models and their applications. Topics include survival and severity models, Kaplan-Meier and Nelson-Aalen estimators, aggregate and credibility models for insurance losses, discrete time Markov chains, ruin theory, and simulation. Prerequisite: Stat 5643 and either Stat 5644 or a 3000-level Stat course. (Co-listed with Stat 5755).

ECON 4410 Public Finance (LEC 3.0)

Study of government expenditures and sources of revenue. Particular emphasis is given to governmental decision making--how these decisions affect the economy and the behavior of individuals, firms, and families within the economy; and how these decisions may be evaluated. Prerequisite: Econ 2100.

ECON 4430 Cost-Benefit Analysis (LEC 3.0)

Investigates the rationale for cost-benefit analysis within a free enterprise setting. Discussion of market efficiency and failure; determination of social costs and benefits; applications of cost-benefit analysis; and, problems remaining in theory and practice. Prerequisite: Econ 2100.

ECON 4440 Environmental And Natural Resource Economics (LEC 3.0)

Optimum use of replenishable and non-replenishable resources, public goods and common resources, externalities, private vs. public costs, and quality of the environment; emphasis on public policy related to environmental and natural resource economics. Prerequisite: Econ 2100. (Co-listed with Min Eng 4523).

ECON 4512 Mine Management (LEC 3.0)

Theory and practice of mine management, including basic managerial functions, management theories, communication skills, motivation, leadership, organization, maintenance management, managerial decision making, cost control, labor relations, government relations, ethics and risks management with emphasis in presentation skills. Prerequisite: Completion of 100 credits in Mining Engineering curriculum. (Co-listed with MIN ENG 4512).

ECON 4540 Energy Economics (LEC 3.0)

Market structure. World resource development. Supply and demand analysis on energy production and consumption within domestic and global settings. Prerequisite: Econ 2100. (Co-listed with Min Eng 4524).

ECON 4641 Foundations of Sustainability (LEC 3.0)

This interdisciplinary course is designed as an introduction to sustainability in commerce. It examines the concept of environmental, social, and economic issues in an organizational context. Principles, processes, and practices of sustainability will be explored.

ECON 4642 Introduction to Global Eco- and Social-preneurship and Innovation (LEC 3.0)

This interdisciplinary course applies an entrepreneurial mindset to the environmental and social opportunities and challenges facing the global community. Topics are examined from multiple perspectives: nonprofit, hybrid, and for-profit organizations.

ECON 4643 Ethical Problems in a Global Environment (LEC 3.0)

Focuses on the international dimension of ethics including corporate responsibility from economic, social, and environmental perspectives. It addresses the ethical challenges of decision making, stakeholder engagement, and governance at micro- (personal), meso- (org), and macro- (system) levels.

ECON 4710 International Trade (LEC 3.0)

Analysis of gains from trade; the effects of factor mobility; effects of trade restrictions on trade flow and income distribution; arguments for restricting trade; and effects of trade on economic development, employment and human capital development. Prerequisite: Econ 2100.

ECON 4720 International Finance (LEC 3.0)

Examination of the international monetary system, the Balance of Payments, the foreign exchange market, futures and options markets; foreign exchange and other risk management for firms, financing from a global perspective and direct foreign investment. Prerequisite: Econ 2200.

ECON 4730 Economic Development (LEC 3.0)

Theoretical analysis of the problem of economic development of the "poor" countries, where two-thirds of the world's population lives. Treatment of basic problem areas leading to a synthesis of theoretical approaches for the achievement of development. Prerequisite: Econ 2100 or 2200.

ECON 4820 Labor Economics (LEC 3.0)

Labor as a factor of production, collective bargaining, trade unionism, labor legislation, from the viewpoint of public policy. Prerequisite: Econ 2100 or Econ 2200.

ECON 4860 Problems In Economic Policy (LEC 3.0)

Advanced course designed for students majoring within the department. Appraisal and analysis of major problems of economic policy. Research and reports. Topics covered vary from year to year. Offered jointly by members of the department. Prerequisite: Seniors with 24 or more hours in Econ.

ECON 5000 Special Problems (IND 0.0-6.0)

Problems or readings on specific subjects or projects in the department. Consent of instructor required.

ECON 5001 Special Topics (LAB 0.0 and LEC 0.0)

This course is designed to give the department an opportunity to test a new course.

ECON 5010 Seminar (RSD 0.0-6.0)

Discussion of current topics.

ECON 5120 Advanced Micro and Macro Economics Essentials (LEC 1.5)

An introduction to the essentials of micro and macro economics for running a business. It is designed for students planning to enter the MBA program who need this area and for non-business students who want some business background. Credit in this course cannot be applied to any major or minor in Business, IS&T, or Economics. Additional case or report required. Prerequisite: Bachelor Degree.

ECON 5310 Advanced Mathematical Economics (LEC 3.0)

Marginal analysis, calculus, and linear algebraic systems are applied in selected advanced topics in economics such as price theory, general equilibrium theory, input-output analysis, activity analysis, and game theory. This course is an advanced version of Econ 4310, and will include additional research and project assignments. Credit cannot be obtained for both Econ 4310 and Econ 5310. Prerequisites: Econ 2100, 2200 and Math 1208, Math 3103.

ECON 5337 Financial Mathematics (LEC 3.0)

The course objective is to provide an understanding of the fundamental concepts of financial mathematics. Topics include pricing, assets-liability management, capital budgeting, valuing cash flow, bonds, futures, swaps, options. Preparation for the financial mathematics actuarial exam will be provided. Prerequisites: Math 1215 or Math 1221, Econ 2100 or Econ 2200 or Finance 2150 or Econ 5160, Stat 3111 or Stat 3113 or Stat 3115 or Stat 3117 or Stat 5643. (Co-listed with Math 5737).

ECON 5342 Advanced Finance (LEC 3.0)

This course provides a rigorous and consistent presentation of the theory of financial decisions. Capital markets are analyzed under assumptions of risk aversion and uncertainty. Models of modern portfolio theory are discussed including the CAPM and the Modigliani-Miller analysis. This course is an advanced version of Econ 321, and will include additional research and project assignments. Credit cannot be obtained for both Econ 5160 and Econ 5342. Prerequisite: Econ 2100 or Econ 2200.

ECON 5430 Advanced Cost-Benefit Analysis (LEC 3.0)

Investigates the rationale for cost-benefit analysis within a free enterprise setting. Discussion of market efficiency and failure; determination of social costs and benefits; applications of cost-benefit analysis; and, problems remaining in theory and practice. This course is an advanced version of Econ 4430, and will include additional research and project assignments. Credit cannot be obtained for both Econ 4430 and Econ 5430. Prerequisite: Econ 2100.

ECON 5440 Advanced Environmental And Natural Resource Economics (LEC 3.0)

Optimum use of replenishable and non-replenishable resources, public goods and common resources, externalities, private vs. public costs, and quality of the environment; emphasis on public policy related to environmental and natural resource economics. This course is an advanced version of Econ 4440, and will include additional research and project assignments. Credit cannot be obtained for both Econ 4440 and Econ 5440. Prerequisite: Econ 2100.

ECON 5532 Advanced Mining Economics (LEC 3.0)

Mining industry & national economics. Social & economics significance of mined commodities. Marketing of mined commodities. Innovation approaches to mine financing, project loans, and leasing. Mining feasibility studies, government influence & policy, mining industry foreign investment, investment strategies, mining taxation, cost predictions. Case Studies. (Co-listed with MIN ENG 5532).

ECON 5540 Advanced Energy Economics (LEC 3.0)

Market structures. World resource development. Supply and demand analysis on energy production and consumption within domestic and global settings. This course is an advanced version of Econ 4540, and will include additional research and project assignments. Credit cannot be obtained for both Econ 4540 and Econ 5540. Prerequisite: Econ 2100.

ECON 5644 Creativity, Innovation, and Sustainability (LEC 3.0)

This interdisciplinary course examines the use of innovation as a competitive technological strategy with a sustainability perspective. It explores ways in which individuals, groups, and organizations can become more creative and how leadership and a culture of change can be implemented.

ECON 5710 Advanced International Trade (LEC 3.0)

Analysis of gains from trade; the effects of factor mobility; effects of trade restrictions on trade flow and income distribution; arguments for restricting trade; and effects of trade on economic development, employment and human capital development. This course is an advanced version of Econ 4710+D1194, and will include additional research and project assignments. Credit cannot be obtained for both Econ 4710 and Econ 5710. Prerequisite: Econ 2100.

ECON 5720 Advanced International Finance (LEC 3.0)

Examination of the international monetary system, the Balance of Payments, the foreign exchange market, futures and options markets; foreign exchange and other risk management for firms, financing from a global perspective and direct foreign investment. This course is an advanced version of Econ 4720, and will include additional research and project assignments. Credit cannot be obtained for both Econ 4720 and Econ 5720. Prerequisite: Econ 2200.

ECON 5820 Advanced Labor Economics (LEC 3.0)

Labor as a factor of production, collective bargaining, trade unionism, labor legislation, from the viewpoint of public policy. This course is an advanced version of Econ 4820, and will include additional research and project assignments. Credit cannot be obtained for both Econ 4820 and Econ 5820. Prerequisite: Econ 2100 or Econ 2200.

Bonnie J Bachman, Professor
PHD Rutgers University

Michael C Davis, Associate Professor
PHD University of California-San Diego

Mahelet Fikru, Assistant Professor
PHD Southern Illinois University-Carbondale

Gregory Gelles, Professor
PHD West Virginia University

Ana-Maria Ichim, Assistant Professor
PHD Louisiana State University

Eun Soo Park, Associate Professor
PHD Northwestern University

Sarah Steelman, Assistant Teaching Professor
MA University of Missouri-Columbia

Superscripts 1, 2, 3, 4, 5, and 6 in the faculty listing refer to the following common footnotes:
1 Registered Professional Engineer
2 Registered Geologist
3 Certified Health Physicist
4 Registered Architect
5 Board Certified, American Academy of Environmental Engineers
6 LEED AP Certified

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