6 hrs - Principles of Economics
6 hrs- Theory of Economics
3 hrs - Data Analytics
3 hrs - Statistics
15 hrs - Econ Electives
Econ Course Descriptions
ECON 2005, Microeconomic Principles - Introductory course in the basic concepts of Microeconomics such as Supply and Demand, Types of Markets, and Activities of Firms and Households.
There are no pre-reqs for this course.
ECON 2006, Macroeconomic Principles - Introductory course in the basic concepts of Macroeconomics such as Gross Domestic Product, Unemployment, Price Level and Inflation, Loanable Funds, Growth Theory, Aggregate Supply and Demand, and Fiscal Policy.
Pre: ECON 2005 or ECON 2025H with at least a C, TR or AP credit.
ECON 3104, Microeconomic Theory - Intermediate course that expands on topics in principle courses to build formal models to analyze behavior of consumers and producers, examine roles of competitive markets in coordinating economic activities and the efficient allocation of economic resources with the use of calculus and diagrams as analytical tools.
Pre-Reqs: Select one from
1. ECON 2005 with at least a C, TR, or AP credit and MATH 1225 with at least a C-, TR, or AP credit and MATH 1226 with at least a C-, TR, or AP credit.
2. ECON 2005 with at least a C and MATH 1025 with at least a B- or AP credit and MATH 1026 with at least a B- or AP credit. Transfer credit for MATH 1025 and 1026 must be reviewed by department.
3. ECON 2005 with at least a C and MATH 1225 with at least a C-, TR or AP credit and MATH 1026 with at least a B- or AP credit.
ECON 3204, Macroeconomic Theory - Intermediate course that expands on topics in principle courses to build models of short-run, medium-run, and long-run analysis of open macroeconomic economies.
Pre: ECON 2006 with at least a C, TR, or AP credit and ECON 3104 with at least a C or TR credit.
ECON 3254, Analysis of Economic Data - Introduction to estimation problems based on observational data with a focus on basic regression analysis to estimate cause-effect relations in economics.
Pre: STAT 3005 or STAT 3604 or STAT 3615 or STAT 4604 or STAT 4705 or STAT 4714 or CMDA 2006 or BIT 2406 with at least a C, TR, or AP credit.
ECON 4304, Econometrics - Introduction of the use of mathematical and statistical concepts to analyze data in regards to various economic theories (probability, statistical) and models (bivariate regression, stochastic regressors).
Pre: STAT 3005 or STAT 4604 or STAT 4705 or STAT 4714 or CMDA 2006 or ECON 3254 with at least a C, TR, or AP credit.
ECON 3004, Contemporary Economic Topics - Particular topics within Economics are are the subject of each section. Various topics are presented in each section. Students may take more than one section fo ECON 3004 but students cannot repeat the same topic. Pre: ECON 2006
ECON 3024, Economic Justice - Students will identify a set of personal principles of economic justice through the use of economic thinking. Pre: ECON 2006
ECON 3034, Economics of Poverty and Discrimination - Poverty and inequality in the United States and around the world. Sources of poverty. Antipoverty policies, Definition, empirical evidence, and causes of discrimination. Emphasis on ethical human behavior and policy analysis.Pre: ECON 2005
ECON 3054, Introduction to Forecasting - Provides an introduction to data-driven forecasting, with applications in economics and other disciplines. Specification, estimation, and validation of time-series regression models; ethical issues arising in model specification and estimation. Forcasting theory and evaluation. Pre: STAT 3005 or BIT 2405
ECON 3134, Choice and Behavior - Theories of rational choice, utility, and revealed preference Intertemporal decision problems and choice under uncertainty with applications to insurance and investments. Behavioral regularities and evidence of violations of rational choice theory. Behavioral models that accomodate this behavior. Applications of behvioral models to economic proablems, ethical questions, policy, and organization design. Pre: ECON 2005 and ECON 2006
ECON 3214, Money and Banking - Money and credit. The U.S. monetary system. Monetary theory, monetary policy and economic stabilization. Pre: ECON 2005 and 2006
ECON 3144, Economics of Regulation - Economics of regulation with a focus on U.S. laws and institutions. Market structures, mergers, antitrust laws, and anticompetitive behavior, including collusion and monopolization. Economic regulation of price, entry, and output. Incentive regulation and alternatives to regulation. Valuing life and other nonmonetary benefits. Regulation of health, safety, and the environment. Pre: ECON 2006
ECON 3154, Managerial Economics - Applications of economic concepts and models to practical issues including Demand analysis and different approaches to analyzing consumer behavior, Supply analysis including producer behavior and theories of firms, pricing strategies, market imperfections, and empirical analysis. Pre: ECON 2006 and 3104
ECON 3214, Money and Banking - Focuses on the system behind the creation and governance of paper money which has no intrinsic value. Pre: ECON 2005
ECON 3314, Middle East Economics - Introduction to economies of the Middle East and North Africa. Application of Economic analysis to economic history and modern economic growth of the region. Historical role of a strong state and Islam in shaping the institutions of private property in Middle Eastern societies. The market for oil and the integration of the region into the global economy. The modern economy of the Middle East with focus on human capital development, inequality, and the role of women. Pre: ECON 2006
ECON 3884, Topics in Philosophy, Politics, and Economics - Topics-based course in philosophy, politics, and economics (PPE). Discussion of important topics and thinkers in PPE with historical and practical relevance. Focus on interdisciplinary analysis and methods. Topics include: limits of markets; well-being theory, science, and policy; socioeconomic justice; economic and political institutions; and global poverty. Pre: ECON 2006
ECON 3914, European Economics - Microeconomics, macroeconomics and economic policies of the European Union. EU economic law, institutions, decision-making and budgeting. Historic and current influences on regional economic development. Monetary and fiscal policies. Economic methods, analysis, and reporting. Pre: ECON 2006
ECON 4014, Environmental Economics - Focuses on the allocation of scarce resources in regards to the development and management of enviromental and natural resources. Pre: ECON 2005
ECON 4044, Public Economics - Use economic analysis to critically analyze the public sector including proper size and function of government, market failure, cost-benefit analysis, public good provision,a nd pricing of public enterprise services. Pre: ECON 3104
ECON 4054, Public Finance - Use of economic analysis to critically analyze government activities related to revenue-generating, inefficiencies of taxes and social insurace programs. Pre: ECON 3104
ECON 4074, Labor Economics - Introduction of the use of theoretical and empirical analysis to build formal models to understand and explain the labor market and wage determination. Pre: ECON 2005 and 3254
ECON 4084, Industry Structures - Introduction to the theory of industrial organization and understand firm behavior and competition. Pre: ECON 3104
ECON 4124, Growth and Development - Introduction to the economic definitions of the terms growth and development, the role of agriculture and industrialization, and the lives of the poor. Pre: ECON 2006 and 3104
ECON 4135, 4136, International Economics - 4135 International Trade: Factor mobility and commercial policy. 4136 International Finance: Liquidity, exchange rates, comparative international living standards, foreign aid. PRE 4135: ECON 3104. PRE 4136: ECON 3204
ECON 4144, Economics of China - Evolution of the Chinese economy since 1949. Exposition of alternative economic systems, the commune, incentive problems, and state owned enterprises. Analysis of recent reforms and their effects on economic efficiency; and key issues of economic transition related to Russia and other East European countries. Pre: ECON 3104
ECON 4214, Economics of Health Care - Economic analysis of the health care industry in terms of supply and demand of services, insurance, and government health policy. Pre: ECON 2005
ECON 4314, Big Data Economics - Applied econometrics dealing with big data. Theoretical, computational, and statistical underpinnings of big data anaylsis. The use of econometric models and deep machine learning algorithms to analyze the high-dimensional data sets. Implications in research focusing on economic questions that arise from rapid changes in data availability and computational technology. Materials are hands-on tutorials that come with Python codes and real-world data sets. Pre: ECON 3104 or 4304 or CMDA 3654 or STAT 3006
ECON 4404, Economics of Organizations - Analysis of the interaction between firms, consumers, and governments in regards to incentives when information is missed by managers and shareholders. Pre: ECON 3104
ECON 4424, The Theory of Games and Economic Behavior - Introduction to games and solution concepts, such as prisoners dilemma, noncopperative equilibrium and Nash bargaining solution. These concepts are applied in analyzing economic problems including bargaining problems, oligopoly and agency. Pre: ECON 3104
ECON 4434, Experimental Economics - Introduction to the methodology for testing economic theories through familiarization of state-of-the-art research methodology by participating in and designing experiments. Pre: ECON 3104 and STAT 3005 or BIT 2406
ECON 4454, Neuroeconomics - Examination of the field of neuroeconomics using an interdisciplinary research approach that focuses on reward valuation in and by the brain. Pre: ECON 3104 or NEUR 2026
ECON 4884, Advanced Philosophy, Political Science, Economics - Intersection of advanced topics in philosophy, politics, and economics. Pre: PHIL/PSCI/ECON 2884
ECON 4614, R Programming in Economics - Using R to combine economic theory and data. Focus on general R programming fundamentals related to data science techniques and economic data (gathering, standardizing and cleaning, analysis, and visualization). Hands-on experience with a variety of data, data sources, and techniques within R. Flaws and limitations of data. Direct application with individual project combining economic theory and data using R. Pre: ECON 2006 and ECON 3254 or 4304
ECON 4864, Developing Behavioral Science Policies and Interventions - Senior-level capstone course to apply theories and models from behavioral decision science to real world problems on topics from education, organizations, health, crime, environment, and volunteerism. Utilize behavioral science theories, data and analytical frameworks from research papers to define and analyze problems or unintended consequences resulting from individual decision-making. Emphasis on identifying specific problems, formulating behavioral policies or interventions to improve performance, and designing experiments and randomized controlled trials to test their effectiveness. Pre: ECON 3134 or BDS 3134
ECON 4894, Law and Economics - Use of microeconomic principles to study the law, the effects laws have on citizens behavior and wellbeing, and the best laws for society. Use economic analysis to analyze goals of the legal system and effectiveness of laws. Pre: ECON 2005
Students completing Independent Study or Undergraduate Research courses will need to meet with the faculty with whom they will completing the course for instructions to complete the application process.
Independent Study - A continuation of greater depth of a topic covered in a course. Involves extensive reading and tutorial sessions with a faculty member that results in the writing of a paper or project by the student.
ECON 2974 - Pre: ECON 2006, 3.0 GPA, and department approval
ECON 4974 - Pre: ECON 3204, 3.0 GPA, and department approval
Undergraduate Research - The exploration of a specific topic within the field of economics for when the student makes an original contribution. The student is required to present a formal paper or poster at the end of the semester.
ECON 2994 - Pre: ECON 2006, 3.0 GPA, and department approval
ECON 4994 - Pre: ECON 3204, 3.0 GPA, and department approval
Internship - The application of knowledge learned in the classroom in a "real world" professional setting. Internships can be paid or unpaid but must be unpaid to receive course credit.
ECON 4754 - Pre: ECON 3204, 3.0 GPA, and completion of an internship registration in the semester prior to the beginning of the internship.
ECON 2025H, Microeconomic Principles - Introductory course in the basic concepts of Microeconomics such as Supply and Demand, Types of Markets, and Activities of Firms and Households. Majors in Economics will have ECON 2005 waived, ECON 2025H will be subbed for ECON 3104, and are required to complete an additional ECON Elective at the 3000 or 4000 level.
ECON 2026H, Macroeconomic Principles - Introductory course in the basic concepts of Macroeconomics such as Gross Domestic Product, Unemployment, Price Level and Inflation, Loanable Funds, Growth Theory, Aggregate Supply and Demand, and Fiscal Policy. Majors in Economics will have ECON 2006 waived, ECON 2026H will be subbed for ECON 3204, and are required to complete an additional ECON Elective at the 3000 or 4000 level. Pre: ECON 2025H
ECON 1104: Economics of Gender - Economic approach to the causes and consequences of male/female gender differences in economic outcomes. Tools in microeconomic analysis and empirical work. Women, family choices and labor markets. Gender gap in earnings. Employment and wage policies related to women. (3H, 3C)
ECON 1204: Economics of Race - Causes and consequences of racial disparities in economic outcomes including education, health, housing, entrepreneurship, and earnings. Tools in microeconomics and statistics as applied to the study of racial issues. Historical and institutional contexts of racial problems. Change in racial gaps across generations. Impact of public policies to address racial discrimination in labor markets. Does not count toward ECON major. (3H, 3C)
ECON 1214: Economic History of Diversity and Inclusion - Economic analysis of topics concerning diversity and inclusion. Emphasis on Virginia and surrounding states. Introduction to the basic principles of economic analysis and economic history, with a special emphasis on models of institutional change, economic growth, discrimination, inequality, migration, and indigenous economic systems. Impact of institutions, environment, and technological change on labor markets, asset markets, and standard of living. Consideration of the role of data in understanding diversity and related ethical issues. (3H, 3C)
Student must complete each course with at least a C- or TR or AP credit.
MATH 1225, Calculus of a Single Variable - First half of the first-year mathematics courses. Pre: Placement by Math Department at time of admission
MATH 1226, Calculus of a Single Variable - Second half of the first-year mathematics courses. Pre: MATH 1225
Student must complete each course with at least a B- or AP credit. TR credit upon approval of the department.
MATH 1025, Elementary Calculus - First semester of elementary calculus. Pre: MATH 1014 or placement by Math Department at time of admission.
MATH 1026, Elementary Calculus - Second semester of elementary calculus. Pre: MATH 1025 or placement by Math Department at time of admission.
STAT 3005, Statistical Methods - Introduction to statistical methods to develop problem-solving skills and ethical reasoning within the context of data. Pre: MATH 1225.
STAT 3604, Statistics for Social Science - Introduction to statistical methods focusing on real-world applications to develop problem-solving skills and ethical reasoning within the context of data. Pre: MATH 1014 or MATH 1225 and Sophomore Standing or higher.
STAT 3615, Biological Statistics - Statistics in a biological context with real-world examples. Pre: MATH 1225 or MATH 1025.
STAT 4706, Probability and Statistics for Engineers - Basic concepts of probability and statistics with emphasis on engineering applications. Pre: STAT 4705 or STAT 4105 or ISE 2024.
BIT 2405, Introduction to Business Statistics, Analytics, and Modeling - Introduction to basic statistical (inference) tools, analytics techniques, and modeling necessary in managerial decision-making. The decision-making aspect of the course, while utilizing quantitative/computational thinking, will emphasize ethical reasoning. Pre: MATH 1524 or MATH 1225 and MATH 1226
BIT 2406, Introduction to Business Statistics, Analytics, and Modeling - Overview of analytic models and solution techniques in decision science. Discussion of descriptive and predictive analytics goals and methods. In addition to overview of mathematical modeling and solution techniques, discussions will include considerations of adapting analytics methods to various global and ethical business applications. Pre: BIT 2405 or STAT 3006 or STAT 3604 or STAT 3616 or STAT 4604