2021 - 2022 Undergraduate Bulletin - NMU Bulletin

EC 340 Capitalism, Socialism and Democracy 4 cr.

• Offered: Summer semester of even-numbered years.
• Prerequisites: EC 101 or EC 201, or instructor permission.
• Bulletin Year: 2021 - 2022 Undergraduate Bulletin | View the current NMU Catalog.
• General Education: This course applies towards the following general education requirement(s):
  • Perspectives on Society (PERS)

The course covers the grand historical debates over economic systems. Classical liberalism, anarchism, Utopian socialism, centrally-planned socialism, and state capitalism will all be explored. Students will be introduced to Marxian, Austrian School, and Public Choice Theory perspectives.

Notes:

Formerly listed as EC 420.

EC 415 Labor Economics 4 cr.

• Offered: Fall semester of odd-numbered years
• Prerequisites: EC 201 and junior standing or instructor permission.
• Bulletin Year: 2021 - 2022 Undergraduate Bulletin | View the current NMU Catalog.

Analysis and description of the U.S. labor force and labor markets. Wage determination for the firm, industry and economy is examined. The impact of unions, licensing and other institutional forces on wages and employment is evaluated.

EC 410 Managerial Economics 4 cr.

• Offered: Contact department
• Prerequisites: EC 201 and EC 202, junior standing or instructor's permission.
• Bulletin Year: 2021 - 2022 Undergraduate Bulletin | View the current NMU Catalog.
• General Education: This course applies towards the following general education requirement(s):
  • Quantitative Reasoning and Analysis (QUAR)

The application of economic analysis to business problems. Topics include forecasting, estimation and analysis of demand, cost and production functions, market structure, pricing techniques, elementary game theory and elasticity measurement.

EC 405 Economics of Public Choice 4 cr.

• Offered: Contact department
• Prerequisites: EC 201 junior standing or instructor's permission.
• Bulletin Year: 2021 - 2022 Undergraduate Bulletin | View the current NMU Catalog.

EC 405 is an exploration of human behavior and decision-making. Decision making as consumers, workers, citizens, private business, and public organizations, politicians, from the markets to the political arena. It also studies government revenues and expenses.

EC 402 Intermediate Macroeconomics 4 cr.

• Offered: Winter
• Prerequisites: EC 201 and EC 202, junior standing.
• Bulletin Year: 2021 - 2022 Undergraduate Bulletin | View the current NMU Catalog.

Analysis of savings, consumption, investment and other aggregates in the national economy as related to determination of national income, employment and prices. This is a course in macrostatics.

EC 401 Intermediate Microeconomics 4 cr.

• Offered: Fall
• Prerequisites: EC 201 and EC 202, junior standing.
• Bulletin Year: 2021 - 2022 Undergraduate Bulletin | View the current NMU Catalog.

Theoretical analysis of the behavior of the consumer, the firm and other economic units and of the determination of product and factor prices under various market structures. Application of theory to contemporary economic problems.

EC 350 Methods and Materials in Teaching Social Studies Education 4 cr.

• Offered: Fall
• Prerequisites: Admission to methods phase of teacher education.
• Bulletin Year: 2021 - 2022 Undergraduate Bulletin | View the current NMU Catalog.

Survey of the concepts, materials and strategies used in economics at the secondary level. The course includes practice in the construction of units, identification of objectives, selection of materials and development of activities and procedures. Some discussion of evaluation and classroom management is included.

Notes:

Does not count toward the non-teaching economics major or minor. Can count toward the secondary education economics minor if required.

EC 345 Environmental and Natural Resource Economics 4 cr.

• Offered: Summer semester, odd numbered years.
• Prerequisites: EC 101 or EC 201, or instructor's permission.
• Bulletin Year: 2021 - 2022 Undergraduate Bulletin | View the current NMU Catalog.

This course allows students to apply tools of economic analysis to the study of current environmental and natural resource issues. Property rights, social welfare maximization and cost-benefit analysis are some of the key concepts used during the course. Government, market, nonprofit, and collective action responses to environmental problems will be covered.

EC 337 American Economic History 4 cr.

• Offered: Contact Department
• Prerequisites: EC 101 or EC 201, or instructor permission.
• Bulletin Year: 2021 - 2022 Undergraduate Bulletin | View the current NMU Catalog.
• General Education: This course applies towards the following general education requirement(s):
  • Integrative Thinking (INTT)

Examination of the transformation of the American economy from its beginnings through the mid 20th century, including the advent of the constitution, slavery, the banking system, industrialization, women in the work place, regulation, and the Great Depression. In addition, it explores both critics and defenders of the American productivity story. 

Notes:

Cross listed as HS 337.

EC 320 Money and Banking 4 cr.

• Offered: Winter
• Prerequisites: EC 101 or EC 202.
• Bulletin Year: 2021 - 2022 Undergraduate Bulletin | View the current NMU Catalog.

Institutional description of money, commercial banking, central banking, deposit intermediaries, government finance and foreign exchange. Theoretical analysis of the effect of financial services institutions on economic behavior is also covered.