2022 - 2023 Undergraduate Bulletin - NMU Bulletin

EC 498 Directed Studies in Economics 1-4 cr.

• Offered: On demand
• Prerequisites: EC 201 and EC 202, junior standing and instructor's permission.
• Bulletin Year: 2022 - 2023 Undergraduate Bulletin | View the current NMU Catalog.

Readings and research under faculty supervision. Designed for advanced economics majors.

EC 495 Special Topics in Economics 1-4 cr.

• Offered: On demand
• Prerequisites: Instructor's permission and junior standing.
• Bulletin Year: 2022 - 2023 Undergraduate Bulletin | View the current NMU Catalog.

Variable content, depending upon the specialization of the instructor and special needs of the student. Notes: May be repeated if topic differs.

EC 490 Seminar in Economics 1-4 cr.

• Offered: On demand
• Prerequisites: EC 201 and EC 202, junior standing and instructor's permission.
• Bulletin Year: 2022 - 2023 Undergraduate Bulletin | View the current NMU Catalog.

Topic determined by the specialties of the instructor.

EC 460 Economic Development 4 cr.

• Offered: Contact Department
• Prerequisites: EC 101 or EC 201, junior standing or instructor's permission.
• Bulletin Year: 2022 - 2023 Undergraduate Bulletin | View the current NMU Catalog.

Theories of economic growth and structural change; effects of population growth and the role of labor; sustainable development; the role of trade in economic development; health and nutrition; importance of education; and agricultural and industrial development.

EC 363 Economics of Regulation and Antitrust 4 cr.

• Offered: Fall semester of even-numbered years
• Prerequisites: EC 201 or instructor permission.
• Bulletin Year: 2022 - 2023 Undergraduate Bulletin | View the current NMU Catalog.

An examination of market structure, from perfect competition to monopoly, and the economic rationale for regulation of markets and antitrust laws . Topics include, but are not limited to, game theory, collusion, cartels and public choice explanations for regulation of markets.

Notes: Formerly listed as EC 455.

EC 335 Health Care Economics 4 cr.

• Offered: Contact Department
• Prerequisites: EC 101 or EC 201, junior standing or instructor's permission.
• Bulletin Year: 2022 - 2023 Undergraduate Bulletin | View the current NMU Catalog.

An application of basic microeconomic principles to the health care sector. Topics include health care production, the demand for health care, third-party payers, health insurance, managed-care programs, hospital structure, physicians’ behavior, malpractice, regulation and international health care systems.

Notes: Formerly listed as EC 444.

EC 330 Law and Economics 4 cr.

• Offered: Fall semester of even-numbered years
• Prerequisites: EC 101 or EC 201, junior standing or instructor's permission.
• Bulletin Year: 2022 - 2023 Undergraduate Bulletin | View the current NMU Catalog.

An exploration of the interface between law and economics with emphasis on the economic analysis of law. The course is about both the economics behind laws and the economic effects of laws. Major topics include property, contracts, torts, product liability, common law and crime.

Notes: Formerly listed as EC 435.

EC 425 International Economics 4 cr.

• Offered: Fall semester of even-numbered years.
• Prerequisites: EC 101 or EC 201, junior standing or instructor's permission.
• Bulletin Year: 2022 - 2023 Undergraduate Bulletin | View the current NMU Catalog.

Introduction to the theory of international trade and finance with emphasis on the study of the gains from international specialization and exchange, the effects and purposes of restrictions on trade, trade organizations, exchange rates and currency systems, as well as balance of payments issues.

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: 2022 - 2023 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: 2022 - 2023 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.