Economics (EC)

Courses

EC 200  An Economic Survey  3 Credits (3,0)

An introduction to macro and microeconomic principles, problems, and policies with a view to current economic problems.

EC 210  Microeconomics  3 Credits (3,0)

An introduction to the economic principles of free enterprise supply and demand, private and social implications of profit maximization, market structure, and resource markets. Current microeconomic issues in aviation (such as liability reform, evolution of airline competition, etc.) are discussed.

EC 211  Macroeconomics  3 Credits (3,0)

An introductory analysis of employment, inflation, recession, GDP economic growth, and international trade with an emphasis on practical policy alternatives. Macroeconomic aviation applications such as the counter-cyclical growth of start-up airlines and consideration of ATC privatization are incorporated.

EC 225  Engineering Economics  3 Credits (3,0)

Microeconomic principles, problems, and policies. Basic financial principles such as time value of money, project evaluation methods, depreciation and inflation, income taxes, capital budgeting, sensitivity and risk analysis, and costing projects.
Prerequisites: MA 241

EC 299  Special Topics in Economics  1-6 Credit

Individual independent or directed studies of selected topics.

EC 302  History of Economic Thought  3 Credits (3,0)

This course will increase the understanding and appreciation of the historic development and evolution of economic ideas, processes of thought, and philosophy of policy. It also discusses the intellectual history of political economy, and introduces the great figures in the development of economic thought. Students will not only improve their understanding of economic reasoning and analysis, but also gain a unique appreciation of how modern economics evolved into its present form. Starting with classical economics, the course will set the scene for the rise of modern political economy by analyzing political debates on foreign trade, the national economy, and early efforts in economic analysis.

EC 312  Money and Banking  3 Credits (3,0)

A preliminary investigation of the financial institutions of the U.S. and the relationship of monetary policy to income and price stabilization. Some analysis of international capital flows will also be undertaken.

EC 315  Managerial Economics  3 Credits (3,0)

This course presents an analytical approach to the manager's role in understanding pricing, costing, production and forecasting. This course emphasizes the quantitative and qualitative applications of economic principles to business analysis and concentrates on simple quantitative models to explain the firm's position in the market and how the manager can react to and control information. Aviation related topics commonly discussed include airport privatization, employee ownership of airlines, forecasting passenger demand, airline production and cost analysis, optimal pricing and production decisions, sensitivity analysis, and capital budgeting.

EC 316  Environmental Economics and Policy  3 Credits (3,0)

This course aims at enabling students to analyze and understand how economic theory is used on environmental issues of particular concern to economic growth and development policies. This course combines theoretical economic study with policy discussions on specific environmental strategies as applied to pollution, water, energy, climate change, and human health issues.
Prerequisites: EC 200 or EC 210

EC 317  Global Economics, Politics and Culture  3 Credits (3,0)

This globally focused course blends areas of knowledge in economics, politics, geography, and cultural anthropology to explore social structure, traditions, language, religion, law, and technology. Concepts of culture in human experience and regional geography, economic systems, political systems, and economic policies are discussed. Students explore the concept of "culture", how it develops, how it changes, and how it is transferred in time and space across latitudes and longitudes; as well as cultural influence in our lives. With the advent of an emerging "global culture", students will benefit from examining major world political economies and becoming familiar with "dominant cultural places" in the world
Prerequisites: EC 210 or EC 211

EC 330  Air Transport Economics  3 Credits (3,0)

The economic underpinnings of commercial aviation and how airline managers address problems. An overview of the air transportation apparatus; passenger itinerary reliability and on-time performance; the fundamentals of airline markets. Demand analysis; airline costs and supply with reference to examples where current airline data is available. The development and application of airline pricing; revenue management and schedule optimization; airline regulation, alliances, code-sharing and mergers.

EC 399  Special Topics in Economics  1-6 Credit

Individual independent or directed studies of selected topics.

EC 420  Economics of Air Transportation  3 Credits (3,0)

A study of the economic aspects of airline service with consideration given to the impact of federal aid and regulation, types of aircraft, airport problems, consumer interests, and competitive practices.
Prerequisites: EC 200 or EC 210

EC 499  Special Topics in Economics  1-6 Credit

Individual independent or directed studies of selected topics.