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Courses

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Jonathan Powers

Assistant Professor & Chair of Economics

2 East South Street

Galesburg, IL 61401-4999

309-341-7332

jpowers@​knox.edu

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ECON 110 Principles of Microeconomics

Microeconomics is concerned with the behavior of the individual economic agents - consumers, households and businesses - that make up the overall economy. The goal of this course is to introduce students to the analytical tools and techniques used by economists to better understand the choices that economic agents make and how markets function. This course also provides an introduction to fields that apply microeconomics such as environmental economics, international trade, industrial organization, labor economics and public finance. HSS; SA; Offered every term; Staff

ECON 120 Principles of Macroeconomics

Macroeconomics: the determination of national income, employment and the price level. Topics include monetary and fiscal policy, inflation, unemployment, the distribution of income, and economic growth. HSS; SA; Offered every term; Staff

ECON 130 Economics Writing Workshop (1/2)

Students in this course write multiple drafts of short topics concerning topics in economics. The primary goal of the course is to improve students' ability to write in clear, concise and grammatically-correct ways. Offered alternate years.; J. Powers

ECON 205 The Business of Health

What is health? Is it a good that can be produced and traded in the market? Does everyone have a right to health care? Who is involved in the business of health? This course explores perspectives that surround our health, the provision and delivery of health care and the financing of that care. We investigate and discuss how these different interests relate to one another and result in health care as it is available in the US today and in contrast with health care systems in other countries. HSS; C. Scotton

ECON 230 Labor Economics

This course examines the labor market and how economic, social and institutional forces influence the supply and demand for labor. Topics include: labor force participation, wage determination, investments in human capital, wage differentials, discrimination, the role of unions and collective bargaining and policy considerations such as the effects of welfare and social security benefits on levels of participation. Prerequisite(s): ECON 110 and 120, or permission of the instructor; Cross Listing: BUS 230; Offered alternate years; C. Scotton

ECON 240 Marxist Economics

The study of Marxist political economy with attention to: Marxist methodology, historical materialism, Marxist theories of income distribution and economic crisis, and select topics in political economy, such as the determinants of: technical change, the organization of education, and environmental problems. Prerequisite(s): ECON 110 or 120, or permission of the instructor; Offered annually; S. Cohn

ECON 248 Teaching Assistant (1/2 or 1)

Prerequisite(s): Permission of instructor; May be graded S/U at instructor's discretion; Staff

ECON 249 Internship in Economics (1/2 or 1)

Interested students working with Economics faculty members, business and government agencies may arrange internships in the areas of economics and public policy. Prerequisite(s): permission of the instructor; May be graded S/U at instructor's discretion; Staff

ECON 280 Economics of Inequality

This course looks at the extent of inequality in the U.S. economy and how different paradigms in economics explain the causes of inequality. Topics include: the measurement of inequality, neoclassical and other economic theories of income distribution, macroeconomics and inequality, and public policies to reduce inequality. HSS; Prerequisite(s): sophomore standing or permission of instructor; S. Cohn

ECON 295 Special Topics (1/2 or 1)

Courses offered occasionally to students in special areas of Economics not covered in the usual curriculum. Staff

ECON 301 Microeconomic Analysis

Microeconomic theory: the study of price determination in various market settings. Prerequisite(s): ECON 110, and equivalent of MATH 145 or MATH 151; Offered alternate terms (Winter term one year, Fall and Spring the next); J. Powers; C. Scotton

ECON 302 Macroeconomic Analysis

Macroeconomic theory: an analysis of the determinants of the income, employment, and the price level. Fiscal and monetary policies for economic stabilization and growth are examined. Prerequisite(s): ECON 110, ECON 120, and equivalent of MATH 145 or MATH 151; QL; Offered alternate terms (Fall and Spring one year, Winter term the following year); R. Stout

ECON 303 Introduction to Econometrics

A continuation of STAT 200. The course emphasizes the use and interpretation of statistical techniques in economics, particularly regression methods, and the written communication of statistical results. Prerequisite(s): STAT 200 and one 300 level economics course; QL; W; Offered twice each year; R. Stout; J. Powers; C. Scotton

ECON 310 The Economics of Nonprofit Enterprises

Students examine the role of nonprofit enterprises in society and the variety of ways non profits find to finance the goods and services they produce. Students survey economic and political theories about the social need for nonprofits then examine the legal organization, management, and performance of 501c(3) nonprofit organizations. Topics that receive particular attention include: defining the mission, marketing, pricing services and products, charitable fundraising, recruiting paid staff, recruiting volunteer staff, and building effective boards of trustees. Prerequisite(s): ECON 110; Cross Listing: BUS 310; Offered alternate years; R. Stout

ECON 333 Managerial Finance

This course examines the functions, responsibilities, logic and analytical tools of financial management. The elements of the financial administration of the firm will be considered throughout the term. Emphasis will be placed on "why" as well as "how" financial decisions are made in organizations. This will be accomplished by examining the areas of cash flow, valuation, present value, risk and return, cost of capital and short and long term financing. Prerequisite(s): BUS 212 or permission of the instructor; Cross Listing: BUS 333; QR; Offered annually.; J. Spittell

ECON 345 The Chinese Economy

This course analyzes the evolution of the Chinese economy from 1900 to the present, with emphasis on the period of 1949 to the present. It treats the topic as a vehicle for thinking about the nature and possibilities of capitalism and socialism. It also explores the differences between Marxist and conventional western economic theories of Chinese economic development. Prerequisite(s): sophomore standing, one from among ECON 110, 120, 340, 373, HIST 241, or PS 326, or permission of the instructor; Cross Listing: ASIA 345; Offered annually, typically in the fall; S. Cohn

ECON 347 Econometrics

The course focuses on estimating and testing economic relations. Topics include: estimation by ordinary least squares, estimation methods for panel data, estimation with instrumental variables, dummy variables, lagged variables, model evaluation and testing, and coping strategies for autocorrelation and heteroscedasticity. Prerequisite(s): ECON 110, ECON 120, ECON 303 or MATH 322, and equivalent of MATH 151; or permission of the instructor; Offered occasionally; R. Stout

ECON 348 Teaching Assistant (1/2 or 1)

Prerequisite(s): Permission of instructor; May be graded S/U at instructor's discretion; Staff

ECON 349 Internship in Economics (1/2 or 1)

Interested students working with Economics faculty members, business and government agencies may arrange internships in the areas of economics and public policy. Prerequisite(s): Permission of instructor; May be graded S/U at instructor's discretion; Staff

ECON 363 Public Economics

A microeconomic analysis of how selected spending programs, taxes, and economic regulations affect the market allocation of resources and the distribution of income. Prerequisite(s): ECON 301 or permission of the instructor; Offered alternate years; C. Scotton

ECON 365 Industrial Organization

This course examines the impact of imperfect competition on the behavior of firms and the performance of markets. It extends the analysis introduced in ECON 301 by systematically relaxing the assumptions of the model of perfect competition. The course explores topics such as collusion, predatory behavior, mergers and acquisitions, product differentiation, advertising and anti-trust policy. Prerequisite(s): ECON 301; Offered alternate years; J. Powers

ECON 368 Environmental and Natural Resource Economics

The study of the economics of renewable and exhaustible resources, environmental problems and policy responses. Topics include: the economics of air and water pollution control, including the economics of climate change, the economics of recycling, the use of cost-benefit analysis, the 'limits to growth' debate, and philosophical issues in environmental policy making. Prerequisite(s): ECON 110; Cross Listing: ENVS 368; Offered annually; S. Cohn

ECON 371 International Trade: Theory and Policy

This course provides an introduction to traditional and new trade theories to understand the pattern of international trade. It explores trade policy tools (tariffs, quotas, subsidies) used by governments to change the amount and pattern of trade. Controversies surrounding the WTO and the proliferation of bilateral and regional free trade agreements, along with inclusion of non-trade issues (labor, environment, intellectual property rights) are also discussed. Prerequisite(s): ECON 110 and ECON 120; Offered annually; M. Zidan

ECON 373 Economic Development

Economic development is concerned with raising the standard of living of a majority of country's population and requires fundamental structural change of the economy and its institutions. This course will examine various theories of economic development, giving special atte3ntion to the role of markets and the government. The course will also cover specific issues and challenges faced by low-income countries in their quest for development including: role of international trade, population growth, agrarian change, and environmental degradation. Prerequisite(s): ECON 110 and ECON 120; or permission of the instructor; W; Offered annually; M. Zidan

ECON 395 Special Topics (1/2 or 1)

Courses offered occasionally to students in special areas of Economics not covered in the usual curriculum. Staff

ECON 399 Senior Seminar in Economics

An in-depth analysis of a selected topic with emphasis on the "doing" of economics. Prerequisite(s): ECON 301, ECON 302, ECON 303 and senior standing; or permission of the instructor; O; Offered twice each year; Staff

ECON 400 Advanced Studies (1/2 or 1)

See College Honors Program. Staff

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Printed on Friday, June 18, 2021