Economics (Major, Minor)
Economics students receive a sound foundation in both macroeconomic and microeconomic theory. They also learn about the evolution of the discipline and the important controversies that have influenced the character and style of economic thinking. Critical thinking skills acquired from studying economics are highly valued in business, government, and organizations.
The Economics major/minor is limited in access. Admission to the Rollins College Hamilton Holt School does not guarantee admission into the Economics major. Interested students may apply for admission to the major or minor upon completion of the following courses taken either at Rollins or as transfer equivalents from a previous institution:
ECO 108 Quantitative Methods for Economics
ECO 212 Principles of Economics I (Micro)
ECO 213 Principles of Economics II (Macro)
INT 221 Statistics for the Social Sciences
Major/minor admission requirements:
- Submission of the application to the Economics major/minor (deadline for Fall admission is August 15; deadline for spring admission is December 15).
- A minimum GPA of 3.0 in the required four courses is generally expected for admission
- A minimum GPA of 2.5 for all coursework is the general expectation.
- The top candidates will be admitted to the major or minor each year based upon the number of available seats.
Requirements for the Major (12)
Remaining Core Courses
ECO 303 Intermediate Microeconomics
ECO 304 Intermediate Macroeconomics
Electives
Six additional courses in economics, four of which must be taken at the 300/400 level.
(All 300 level courses have ECO 108, 212, and 213 as prerequisites.)
Requirements for the Minor (6)
Admission to the Economics minor
Two electives in economics at the 200, 300, or 400 level
Note to Majors: The department recommends the following courses for students preparing for graduate programs:
MAT 111 & 112 Calculus I and Calculus II
MAT 219 Probability and Statistics
Course Descriptions:
ECO 108 Quantitative Methods for Economics
Certain quantitative concepts and skills are necessary for economic analysis. This course introduces these concepts and develops the applied quantitative skills needed for a more complete comprehension of economics. Demonstration of the applicability of these concepts to economic topics such as economic growth, cost-of-living, inflation, investment decision-making, and market supply and demand are illustrated.
ECO 121 Economics of Contemporary Issues
Applies elementary tools of economic analysis to issues of national and social importance. Not open to students who are enrolled in or have completed ECO 212 or ECO 213.
ECO 126 Economics and Public Policy
Examines U.S. macroeconomic policies and effects on inflation, unemployment, rate of growth of GDP, budget deficit, and other current policy questions. Not open to students who are enrolled in or have completed ECO 212 or ECO 213.
ECO 130 Democracy and Economics
Assesses difficulties, successes, and potentials of economic institutions with democratic rules. Evaluates the nature of democratic control both for economic efficiency and alternative criteria. Highlights traditional analysis based on property rights.
ECO 135 The Global Economy
Explores multilateral and bilateral political economy relationships. Touches upon the historical development of global economic integration, global economic geography, major institutional features of contemporary international economic relations, current conflicts of interest, and the likely future evolution of world systems. Not open to students who are enrolled in or have completed ECO 212 or ECO 213.
ECO 140 Nonprofit Economics: Analysis of the "Third Sector"
Analyzes organizations that are neither government nor privately controlled for the profit of owners, including charities, foundations, membership associations, cooperatives, mutuals, and other third-sector entities. Requires volunteer work at a local third-sector organization.
ECO 142 Political Economy of the Media
Dissects print, film, broadcast, cable, and new electronic media in U.S. today. Questions economic structure of media institutions, differing viewpoints of media sources, and role of media in resolving current political/economic issues. Reviews journalistic and academic works, as well as video and audio recordings (including international short-wave news and program broadcasts), newspapers, magazines, and publications of citizen and government groups.
ECO 201 Economics in Perspective
This course will trace the evolution of economic ideas and events from ancient times to the current budget statement in Washington. It will focus on the major economic events that have influenced the development of economic theory and on the philosophers and economists who have made the most important contributions to the development of modern day economic theory.
ECO 212 Principles of Economics I: Introduction to Microeconomics
Introduces neoclassical theories of consumer behavior and of the firm. Covers supply and demand, utility, cost and production, structure of markets, and resource allocation. Suitable for nonmajors. Prerequisite: sophomore status and ECO 108.
ECO 213 Principles of Economics II: Introduction to Macroeconomics
Explains aggregate economic phenomena and policy alternatives, including determination of national income, inflation, unemployment, international economics, banking system, economic growth, income distribution, and national debt. Suitable for nonmajors. Prerequisite: ECO 212.
ECO 225 Personal Economics
A development of a conceptual framework and the analytical tools to make effective personal economic decisions. Topics covered include budgeting, consuming, saving, and investing. Prerequisite: ECO 212.
ECO 237 International Economic Relations
An introduction to international trade and financial systems as practiced in the world today. Emphasis will be placed on trade and financial policies of both developed countries and less developed countries, as well as the international institutions created to accommodate international trade and finance. Prerequisite: ECO 212 and 213.
ECO 239 Women and Work
Explores the effects of increasing numbers of working women on households and employment policies, earning differentials, company and government policies, comparison of women's work issues with those of minorities, and valuation of household work. Suitable for nonmajors. Prerequisite: sophomore status or consent.
ECO 303 Intermediate Microeconomics
Continues with neoclassical theories of consumer behavior and of the firm, using mathematical as well as graphic techniques. Probes topics similar to those in ECO 212 but more intensively. Prerequisite: ECO 108, 212 and 213.
ECO 304 Intermediate Macroeconomics
Uses mathematical and graphic techniques to analyze behavior and relationships among broad aggregates of economic activity. Pushes beyond topics of ECO 213 to an in-depth discussion of economic policy, policy alternatives, and alternative economic models of macroeconomy. Prerequisite: ECO 108, 212 and 213.
ECO 305 Topics in Economics
Introduces subdisciplines. Varies from year to year. May be repeated for credit. Prerequisite: ECO 108, 212 and 213.
ECO 306 Monetary Economics
Examines financial markets and institutions, monetary theory, and macroeconomic implications. Charts the relationship between Federal Reserve and depository institutions, as well as the effects of monetary and fiscal policies on economic performance. Prerequisite: ECO 108, 212 and 213.
ECO 307 International Economics
Focuses on the theory and practice of international trade: comparative advantage, economies of scale, trade policy, international labor and capital movements, economic integration, and foreign exchange rates. Prerequisite: ECO 108, 212 and 213.
ECO 311 Economic Journalism
Examines current economic writing for general and specialized audiences. Applies economic knowledge to descriptive writing about contemporary issues and problems. Explores ideologies and their influence on economic topics selected by media and other writers. Required experiential component. Some essay writing based on this volunteer work with a media organization in business, government or nonprofit sectors of the economy. Prerequisite: ECO 108, 212, 213 and INT 221.
ECO 315 Radical Political Economics
Outlines the economic analysis of capitalism given by Karl Marx and other modern socialist theorists. Covers the evolutionary rise of capitalism, alienation and other behavioral traits of people living in capitalist systems, labor theory of value, concentration of capital, causes of capitalist economic crises, capitalist imperialism, and socialism as an alternative economic system. Prerequisite: ECO 108, 212 and 213.
ECO 318 Economic and Monetary Integration of the European Community
Concepts will be developed to examine the different levels of economic integration. The experience of the Community in the completion of the customs union will be compared with the expectations of theory. Moreover, the move towards EMU will be examined in the light of various theories. The aim of the course is to provide students with an understanding of how and why different countries might wish to integrate economically. Prerequisite: ECO 108, 212 and 213.
ECO 321 Labor Economics
Highlights trends in employment, problems of unemployment, relevance of markets for labor services, and issues of wages, hours, and working conditions. Also covers labor unions, labor disputes and methods of settlement, and the theory and practice of collective bargaining. Prerequisite: ECO 108, 212 and 213.
ECO 325 Distribution of Income and Wealth
Studies distribution of income and wealth among families and individuals by race, sex, age, occupation, and class in the U.S. and other countries. Offers alternative theories and views on how best to achieve desirable distribution with public policy tools. Prerequisite: ECO 108, 212 and 213.
ECO 327 Comparative Economic Systems
Examines similarities and differences among ideal types of economic systems: capitalist, centrally planned socialist, decentralized market socialist, and communist. Undertakes case studies of individual countries (Japan, Sweden, Russia, China, and Yugoslavia) to compare and contrast real versus ideal. Prerequisite: ECO 108, 212 and 213.
ECO 330 Rationality and Economic Behavior
Explores various conceptions of rationality as these relate to our economic behavior and the efficacy of market allocation. Students will engage in class games analogous to formal economic experiments in order to deepen understanding of rationality concepts and resulting market behaviors, both expected and anomalous. Prerequisite: junior/senior status; ECO 108, 213, and INT 221.
ECO 332 Industrial Organization
Probes problems in control of industry performance in mixed economy. Surveys microeconomic theory and economic research on industry structure, conduct, and performance, and antitrust litigation. Prerequisite: ECO 108, 212 and 213.
ECO 335 Public Economics
Applies microeconomic theory to the analysis of government spending in a market economy. Touches upon theory of welfare economics and market failure, principles of expenditure analysis, benefit-cost analysis, government and distribution of income, and public-choice theory. Prerequisite: ECO 212 and 213 and working knowledge of indifference curve analysis; ECO 303 highly recommended.
ECO 351 Economic Development
Traces evolution in attitudes, institutions, and policies that accompany and define permanent economic change within countries. Assesses current economic conditions and future prospects in less-developed countries through theoretical models and actual data. Prerequisite: ECO 108, 212 and 213.
ECO 355 Environmental Economics
The course will examine the economics and scientific basis of environmental issues and the policies that are used in addressing them. The advantages and disadvantages of different regulatory responses will be discussed. We will also discuss methods for valuing the benefits of environmental amenities that do not have an observable value in the marketplace, including the approach used more recently in “ecological economics”. The use of economics in regulating a natural resource (commercial marine fisheries) will be evaluated. Prerequisite: ECO 108, 212 and 213.
ECO 358 The Economics of Health Care
Examines U.S. mixed private-public health care system. Topics include cost inflation, roles of private insurance and public programs in financing, and the impact of proposals such as national health insurance. Prerequisite: ECO 108, 212 and 213.
ECO 361 Urban Economics
Stresses location theory and application of microeconomic theory to analysis of urban policy issues. May cover land-use controls, housing, urban poverty, transportation, and urban public finances. Prerequisite: ECO 108, 212 and 213.
ECO 365 Economic Democracy and Economic Theory
Contrasts alternatively structured organizations--especially those based on one-person/one-vote--with traditional capitalistic firms of the West, which bases control on property ownership with the primary goal of profit maximization. Examines democratic worker-managed firms, nonprofit and volunteer organizations, consumer or producer-controlled cooperatives, and publicly controlled enterprises or financial institutions. Prerequisite: ECO 108, 212 and 213.
ECO 371 International Economic History
Traces the evolution of economic institutions from antiquity to the present. Applies diverse approaches to understand historical processes and structures, concentrating on those relevant to current debates. Prerequisites: ECO 108, 212 and 213.
ECO 381 Introduction to Econometrics
Presents regression theory, multiple regression, simultaneous equations, identification problems, time-series problems, selected estimating techniques, and basic econometric models. Prerequisite: ECO 108, 212, 213, and INT 221.
ECO 403 Applied Microeconomics
Synthesizes microeconomic theory and methodology for decision making. Emphasizes problem formulation, analysis, and solution. Prerequisite: ECO 108, 212, 213 and 303.
ECO 404 Senior Seminar in Economics
Probes, theoretical applied, or policy economics, as well as issues in historical, institutional, or critical economics studies. May be repeated for credit with consent of the department chair. Prerequisite: ECO 221, 303, and 304, or consent.
ECO 405 Economics and Public Policy
This course involves the political-economic analysis of the mass media and associated technologies in the USA, the EU, and other selected countries. International comparisons of industrial structure and policies will be addressed in class, in readings, and in term papers. Prerequisite: ECO 212, 213 and 303.
ECO 407 International Finance
Considers balance-of-payments adjustment mechanisms and impact on national economies. Looks at alternative exchange-rate regimes, international movements of capital, foreign-exchange intervention, impact of exchange-rate variations, and objectives and effects of international monetary standards and financial institutions. Prerequisite: ECO 304 or 306.
ECO 442 History of Economic Thought
Chronicles economic theories from ancient to modern times--particularly from the mercantilist period (circa 1650 AD)--and links them to contemporary social and political systems. Prerequisite: ECO 303, 304 and INT 221.
ECO 448 Alternative Economic Theories
Surveys Marxism, Austrianism, institutionalism, feminism, bioeconomism. Contrasts methodology, analysis, and policy prescriptions with those of classical and Keynesian theories that guide economic orthodoxy. Prerequisite: ECO 303, 304 and INT 221.
Last Update: September 11, 2008
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Information posted on the Rollins College Hamilton Holt School Web site is intended as general information only. It is subject to change and does not reflect a contract between students and the College. Contact the Hamilton Holt School office to confirm any information.
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