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Download ECO285 - Macroeconomics - The WA Franke College of Business
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Assumptions MGT101 - Economics Build Models Generate Conclusions/Predictions Ayn Rand Dr. Dennis Foster Compare to the real world Alfred Marshall Price Supply Adam Smith John Maynard Keynes Pe Demand Q/ℓ Qe Q/ℓ =f(K,L) Karl Marx B A K/ℓ Quantity MGT101 - Economics “Economics is the study of mankind in the ordinary business of life.” --Alfred Marshall MGT101 - Economics A framework for understanding. . . Scarcity Choices (Opportunity) Costs Limited Resources Unlimited Wants Premise: Rational self-interest Choices, Choices, Choices: there’s no way around them. What will be produced? How will it be produced? Who will get what is produced? Efficiency the measure of how well we answer these questions. Microeconomics Consumer behavior. Producer behavior. Price Supply How Markets Work Pe Demand Qe Prices as a rationing device. Profit as a reward to producers. Markets as the ultimate “sustainable” mechanism. Quantity Macroeconomics Unemployment & slow economic growth. Inflation. Dealing with business cycles The cycle as dynamic reallocation of resources. Monetary & fiscal policy to affect cycles. The Fed, the Congress & the President. The W. A. Franke College of Business BSBA degree emphasizes... a core set of business courses . . . including marketing, management, accounting, computer information systems, finance, law, and statistics. 18 hours of coursework in economics plus certificate: –Accounting Accounting Public Accounting Accounting Information Systems –American Studies Certificate –Business Economics –Computer Information Systems Business Analyst Database Systems Systems Administration Web Technology –Finance Investments Corporate Financial Management –International Business Studies –Management Entrepreneurship General Management Human Resource Management –Marketing Promotion & Marketing Communication Customer Service Economics Course Offering: – – – – – – – – – – – – – – – – – BA 321 Intermediate Business Statistics ECO 325 Environmental Economics ECO 346 Economic & Business Forecasting ECO 356 Regional & Urban Economics ECO 384 Intermediate Microeconomic Theory ECO 385 Intermediate Macroeconomic Theory ECO 420 Industrial Organization ECO 425 Economic Development of the Reservation ECO 445 Public Finance ECO 464 Labor Economics ECO 473 Money & Banking ECO 480 Political Economy ECO 483 Comparative Economic Systems ECO 484 Development of Economic Thought ECO 486 International Economics ECO 497 Independent Study ECO 498c Senior Seminar Social and Behavioral Science BS Economics major The Social and Behavioral Science BS degree emphasizes... a program of study based upon social science courses, including political science, geography, history, and sociology. 36 hours of coursework in economics. career preparation for employment in both public and private sectors with an orientation in broad economic issues that span both sectors of the economy. a choice of a focus that supplements the social science orientation of the Economics major (18/15 hrs.). – – – – – Environmental Emphasis International Emphasis Quantitative Emphasis Pre-Law Emphasis Southwest Emphasis FCB web page What do economics majors do? Banking & Finance Journalism Law School Business Government Overseas employment Research Teaching Economics journals Economics of Housing Women in the Labor Market Mathematical Economics Economic Anthropology Economic Theory of Auctions Economics and Biology Law and Economics Economics of Energy Economic Philosophy of Capitalism - Ayn Rand The right to life is the source of all rights – and the right to property is their only implementation. Without property rights, no other rights are possible. "Capitalism is the only system that can make freedom, individuality, and the pursuit of values possible in practice.” Assumptions MGT101 - Economics Build Models Generate Conclusions/Predictions Ayn Rand Dr. Dennis Foster Compare to the real world Alfred Marshall Price Supply Adam Smith John Maynard Keynes Pe Demand Q/ℓ Qe Q/ℓ =f(K,L) Karl Marx B A K/ℓ Quantity
