Economics (EC)

EC 106 The Structure and Operation of the World Economy 3 Cr.

This course will introduce students to the operation of the world economy. Emphasis will be on the identification and description of economic concepts such as tariffs, multinational companies, stock markets, debt, international trade balances and international banking. These concepts will be developed utilizing examples from current world economic conditions. Prerequisite: This is a freshman course-permission of instructor required for any exception.

EC 1XX Economics Transfer Elective 3 Cr.

This course is used for transfer when no equivalent Norwich course exists.

EC 201 Principles of Economics (Macro) 3 Cr.

Description and analysis of the American economic system in terms of basic economic concepts and the determination of national income and its fluctuation. Prerequisite: one semester of college mathematics.

EC 202 Principles of Economics (Micro) 3 Cr.

Study of the behavior of individuals in making decisions on the allocation of limited resources. This course examines how these decisions and behaviors affect the markets for goods and services. Prerequisite: one semester of college mathematics.

EC 310 Money and Banking 3 Cr.

The principles and institutions of money, banking and finance as they influence the performance of the economy. The major topics covered are the nature of money, commercial banking and financial institutions, central banking, monetary theory, monetary policy, inflation and the international monetary system. Prerequisites: EC 201, EC 202 and QM 213 or permission of the instructor.

EC 403 Comparative Economic Systems 3 Cr.

The study of major economic systems. Theories of capitalism, socialism and communism and their implementation by major nations are discussed. Prerequisites: EC 201 and EC 202. Offered in the spring odd years.

EC 406 Public Finance 3 Cr.

An investigation of the effects of government expenditures and revenues on the efficiency of resource allocation and the equity of the income distribution. Topics covered include public goods, externalities, benefit-cost analysis, the structure of major taxes and expenditure and tax incidence. Prerequisites: EC 201 and EC 202. Offered Occasionally.

EC 419 International Economics 3 Cr.

International trade and the theory of comparative advantage. Special attention is given to free world trade and economic development in other countries and groupings as in the European Common Market. Prerequisites: EC 201 and EC 202. Offered in the fall odd years.