Economics Minor Program Requirements

These requirements are from an excerpt from the University Academic Catalog, which outlines the requirements for a student to earn the distinction of being a Castleton University graduate. The complete catalog is available online.

This minor in Economics is offered by the HGEP Department. Upon completion of the minor, students will succeed in analytically and historically integrating contemporary economic events—both market and policy based into their world view(s).

Complete the following courses (12 cr):

Code Course Credits

ECO 1040

Global Economic Issues

or ECO 3220 - International Trade and Development 3 cr

In the past fifty years globalization has profoundly changed economic reality for hundreds of millions of people throughout the world, for some much for the better and for others decidedly not. This course examines that changing reality and analyzes its causes and consequences from a variety of perspectives. We address many of the difficult, complex, and contentious issues that arise as the people of the world try to create prosperous and thriving societies.

This course fulfills the Social and Behavioral Understanding Frame of Reference.

Spring, even years

3

ECO 2040

Macroeconomics in a Global Context

This course serves as an introduction to economic principles in general as well as macroeconomics in particular. How do we understand the workings of the U.S. economy, in its global context? This course looks at the economy holistically, with an emphasis on its interconnections. We examine the connections between competing economic analyses and competing policy prescriptions to prevent or repair economic problems such as unemployment, inflation, and unsustainable growth – within the context of a rapidly globalizing economy.

Prerequisite: MAT 1221 or MAT 1320 or MAT 2021 or equivalent or concurrent enrollment in MAT 2021.

Every Semester

3

ECO 2050

Microeconomics in a Global Context

An introduction to microeconomic theory and its applications placed in a global context. Attention given to: 1) economic behavior of consumers and businesses; 2) the pricing of productive inputs, income distribution and redistribution; 3) the nature and functioning of markets; and 4) the consequences of imperfect competition and imperfect information.

Prerequisite: MAT 1221 or MAT 1320 or MAT 2021 or equivalent.

Every Semester

3

ECO 3210

Great Ideas in Economics

This course explores the underlying questions and enduring themes in economic thought and debate. What is economic justice? What is the proper role of government in the economy? Are capitalism and democracy compatible? What is our duty to future generations? We will consider answers offered by various thinkers-from Adam Smith to Karl Marx, from John Maynard Keynes to Milton Friedman. Then we will fashion our own answers for our own time.

This course fulfills the Social and Behavioral Understanding Frame of Reference.

Prerequisite: Sophomore standing and one course in Economics; or consent of instructor.

Fall, odd years

3

and 6 additional credits from the following:

Code Course Credits

ECO 1010

Economics and Society

An introductory course focused upon the evolution of western market systems. We start with the nature of the local economy in the middle ages. From those origins in feudal society sprang mercantilism and ultimately capitalism. What facets of early trading systems survive; what were jettisoned? How has the evolved system acted upon the wider socio-political realm and in turn been shaped by the political choices history throws up?

This course fulfills the Social and Behavioral Understanding Frame of Reference.

Every semester

3

ECO 1030

The Economics of Wealth and Poverty

This course is an examination of inequalities of income and wealth, primarily in the U.S., using economic tools of analysis. Topics that will be discussed include: how wealth and poverty are measured, the extent of poverty, competing economic explanations and analyses of the causes of extreme poverty and inequality, the consequences inequality has for the economy, and evaluations of public and private sector responses to poverty. These topics will also allow us to touch on such areas as economics of the family, discrimination, individual vs. systemic causes, and the subjective experience of poverty.

This course fulfills the Social and Behavioral Understanding Frame of Reference.

Spring

3

ECO 2120

U.S. Economic History

This course surveys economic history for the United States, from the colonial period through the twentieth century. Special attention is given to the institutional basis of U.S. economic society, including slavery, industrial developments, international trade and political developments, and various trends in economic growth, income distribution, and class, gender, and race relations. As much has happened on this continent over the past 400 years, we cannot expect to become experts on all relevant topics, and will thus try to balance our time between the broader narrative of economic history, and in-depth analysis on some specific topics.

This course fulfills the World Views Frame of Reference.

Fall, even years

3

ECO 2910

Independent Study

Available by arrangement with the instructor and department chair. A student-faculty contract must be executed prior to registration. Signed contract required at time of registration.

1-3

ECO 3020

Money, Banking, and the Financial Services Sector

An examination of the role of money in the economy. What is money? How does the federal reserve, our central bank, control monetary conditions? We will scrutinize various theories of inflation and how financial markets affect and respond to changes in the value of money: actual or anticipated.

Prerequisite: ECO 2040.

Periodically

3

ECO 3050

Women in the Economy

Why do we observe differences between women and men in terms of work, income, consumption and ownership of property? Why have these differences varied over time, between countries, and across ethnic groups and social classes? This class draws upon both traditional and critical economic theories and analyses as well as empirical evidence to address these questions and also to evaluate the policy issues surrounding gender-based economic differences. Many of these questions are controversial; no single theory or perspective will be offered as the correct one. Instead, the process developed will be one of critical thinking. The class is expected to be of interest to men as well as to women.

This course fulfills the Social and Behavioral Understanding Frame of Reference.

Prerequisite: any Economics course is recommended, but not required.

Spring, even years

3

ECO 3060

Political Economy of the Environment

How do we have both a healthy environment and a healthy economy? The goal of this class is to examine the intersections of economic and ecological systems in a social and political context, and to help students develop an understanding of the controversies around the analytical and policy frameworks now evolving which may or may not help to solve some pressing environmental problems. In particular, students will learn to use the tools of economic analysis, both neoclassical and alternative, to provide perspective to the issues. They can expect to gain insight into the complexity of the political and economic issues surrounding the environmental and environmental justice movements. Finally, students can expect to gain insight into the debates around growth and sustainability.

Prerequisite: any Economics course is highly recommended, but not required.

Spring, odd years

3

ECO 3240

Intermediate Macroeconomics

This course builds upon the work of the macroeconomics principles course to provide a deeper and more extensive understanding of the workings of the U.S. economy in its global context. Again considering the economy holistically, we study at a more advanced level competing economic analyses and competing policy prescriptions regarding national income, output, employment, unemployment, inflation, interest, income and wealth distribution, international trade, growth and environmental sustainability. Fundamental measurements of the economy will also be explored. Orthodox and Heterodox economics will both be covered.

Restrictions A minimum of sophomore standing required.

Prerequisite: ECO 2040 or equivalent with a grade of "C" or better

Spring, odd years

3

ECO 3250

Intermediate Microeconomics

This course builds on the fundamental principles of microeconomics with a deeper level of analysis and exploration, to provide students with a more internalized sense of both the potential and limits of microeconomic theory in its applications to real-world issues. Students will study consumer theory, theory of the firm, market structure, and factor markets, along with explorations into behavioral economics (including game theory), non-rational choice, and specific applications such as income distribution, externalities, general equilibrium, and government policies. Students will have the opportunity to apply concepts and ideas through written work, presentations, and projects such as experiments or surveys.

Restrictions Minimum of sophomore standing.

Prerequisite: ECO 2050 or equivalent with a grade of "C" or better

Fall, even years

3

ECO 3810

Internship in Economics

By arrangement with the coordinator of Economics.

Signed contract required at time of registration.

1-12

ECO 4910

Independent Study

A student-faculty contract determines content. Intended for students wishing to study upper level economics topics not otherwise available, or to carry out economic research. By arrangement with instructor and department chair.

Signed contract required at time of registration.

Prerequisite: consent of instructor.

1-3

Note:

  • At least 6 of the credits overall toward this minor must be at the 3000 level or above.
  • A maximum of 6 credits of independent study or internship may be applied to this minor.

Total credits required: 18 cr