102 Introduction to Resource Economics (Gen Ed: SB)Both Semesters
Principles of microeconomic theory for majors and non-majors. Concepts of supply, demand, markets, economic welfare and policies. Applications to resource management in business and government context emphasized. Fall 2019 Syllabus (Rong), Fall 2019 Syllabus RAP (Callejas). Spring 2020 Syllabus
106 (formerly 162) Economics is Everywhere (Gen Ed: SB)Fall Semester
In this course, we seek to elucidate our role as consumers in society and demonstrate the usefulness of economic perspectives in understanding not just the economy, but society more broadly. We are all consumers in many ways. We consume physical products, of course, but we also consume art, media, information, policy, and natural resources. This course will use economics to shed light on these many dimensions of consumption. We will begin by establishing some key economic principles and themes. We will then proceed to use these as a lens for thinking through diverse topics, ranging from classic consumer markets to education policy, from environmental issues to fashion and entertainment. Fall 2021 (Chan & Mullins) Fall 2022 (Mullins)
107 (formerly 121) Hunger in a Global Economy (Gen Ed: SBG)Spring Semester
Explores the causes of hunger (chronic undernutrition) from an economic perspective. Focus on how population growth and economic development are increasing demand for food and on the prospects for food production to supply those needs at affordable prices, while sustaining the environment. Discussion in the context of the global economy in which increased trade links even the poorest urban and rural residents in developing countries to market forces. Spring 2021 Syllabus (Mohapatra) Spring 2022 Syllabus (Mohapatra)
112 Computing: Foundations to FrontiersBoth Semesters
Students work in a team-based learning environment to develop understanding of contemporary computing tools and concepts and the higher-order skills necessary to design and develop information systems that serve the interests of an organization. Topics include data analysis and modeling using MS Excel spreadsheets and relational data management using MS Access and an introduction to SAS analytics software. Students are evaluated through a variety of means: group projects, individual homework, in class team-based exercises, informal reflections, peer evaluations, and exams. Spring 2020 Syllabus
196ISH, 296ISH, 396ISH, 496ISH Honors Independent Study
Honors Independent Studies (ISH) require a faculty sponsor. Students must register online via CHC PATHS to set up course contracts for (ISH) courses.
Contact the Commonwealth College Office—301 Commonwealth Honors College—to add these courses.
202 Price TheoryBoth Semesters
The purpose of this course is to present intermediate level microeconomic theory. Primarily we will focus on consumer demand theory and economics of production. Both graphical and mathematical approaches will be presented. This course provides the background necessary for more advanced courses in the department. Prerequisites: RES-ECON 102 or ECON 103, MATH 127 or MATH 131. Fall 2019 Syllabus, Spring 2020 Syllabus
202H Price Theory, HonorsFall Semester
The purpose of this course is to present intermediate level microeconomic theory. Primarily we will focus on consumer demand theory and economics of production. Both graphical and mathematical approaches will be presented. This course provides the background necessary for more advanced courses in the department. Prerequisites: RES-ECON 102 or ECON 103, MATH 127 or MATH 131.
212 Introductory Statistics for the Social Sciences (Gen Ed: R2)Both Semesters
Designed for students in the social science and business related fields of study. Introduction to basic statistical methods used to collect, summarize, and analyze numerical data. Emphasis on application to decision making; examples from the social sciences and business. Topics include: common statistical notation, elementary probability theory, sampling, descriptive statistics, statistical estimation and hypothesis testing. Basic algebra and familiarity with computer and internet necessary. Fall 2019 Syllabus, Spring 2020 Syllabus (CPE)
Also available online: Register
213 Intermediate Statistics for Business and Economics (Gen Ed: R2)Both Semesters
This course covers methods of sample-based estimation and inference. Topics include hypothesis testing for two populations, analysis of variance for comparing three or more populations, simple linear regression, topics in multiple regression, and univariate time-series techniques (if time permits) such as moving averages and exponential smoothing. Statistical software is used for advanced computations. Basic algebra required. Prerequisites: RES-ECON 212 or STATISTC 240. Fall 2019 Syllabus, Spring 2020 Syllabus
Also available online: Register
262 Environmental Economics (Gen Ed: SB)Spring Semester
Economic analysis of environmental problems focusing on air, water, and land pollution. Emphasis is on analyzing the individual incentives that lead to environmental degradation, the valuation of environmental quality, and the design and evaluation of regulations that seek to improve environmental quality. Includes the economic analysis of global climate change. Spring 2020 Syllabus
Also available online: Register
263/263H Natural Resource Economics (Gen Ed: SB)Fall Semester
Economic analysis of natural resource use and conservation. Includes analyses of the use of fuel, forest, marine and biodiversity resources. Focuses on evaluating natural resource use in terms of efficiency and sustainability, and designing regulations for correcting inefficient and unsustainable resource markets. Fall 2019 Syllabus
303 Writing in Resource EconomicsBoth Semesters
This course satisfies the Junior Year Writing requirement for students in RES-ECON. The emphasis is on developing students’ skills in critical thinking, writing, and effective communication. Prerequisite: ENGLWRIT 112 and Junior Standing. Fall 2019 Syllabus, Spring 2020 Syllabus
312 Introductory EconometricsSpring Semester
Basic concepts in econometric methods. Estimation of the general linear model with applications to theoretical economic models. Introduction to problems and methods to solve problems common in economic data. Nonlinear models, binary independent variables and binary dependent variable methods. Application of methods to real world data; emphasis is on application through use of econometric software. Students undertake research projects. Prerequisites: RES-ECON 112, RES-ECON 202 or ECON 203, and RES-ECON 213 or consent of the instructor. Spring 2019 Syllabus, Fall 2019 Syllabus
313 Decision AnalysisBoth Semesters
No matter what type of job you get when you leave the ResEc family, you will need to be able to make good decisions using numbers. Some of you will get jobs performing analysis, while some of you will need to judge the credibility of the analysis done by others. The goal of this class is to introduce you to decision analysis. Decision Analysis covers how to best make decisions in an uncertain world. Topics include belief formation and updating, logical decision making and avoiding common decision errors, and appropriate information gathering. Fit with other courses: This course contributes to the quantitative sequence by further reinforcing how numbers can help us to make good decisions and by improving the students’ technical skills related to probabilities. The course contributes to the theoretical sequence by focusing on logical and consistent decision making and an understanding of behavioral biases that can adversely affect decision-making. Prerequisite: RES-ECON 212 or STATISTC 240. Fall 2019 Syllabus, Spring 2020 Syllabus
315 (formerly 397A) Economics of Contemporary Information TechnologySpring Semester
Economic analysis of the role that information plays in the economy, and study of the contemporary problems in information production, distribution and consumption that stem from the widespread adoption of new information technologies. Will address both macro and micro implications of IT, and both efficiency and equity concerns at the local, national, and international levels. Prerequisite: RES-ECON 102 or ECON 103. Spring 2020 Syllabus Spring 2022 Syllabus (Taft)
323 (formerly 314) Financial Analysis for Consumers and FirmsBoth Semesters
Foundations of the interest rate theory and fundamentals of finance. A problem-solving approach to selected financial applications as they affect microeconomic units such as the individuals, households, and small businesses. Financial planning, spending, credit and saving, investing, taxes, insurance, retirement, and estate planning are examples of the topics that will be examined. Prerequisites: RES- ECON 102 or ECON 103, MATH 127 or MATH 131. Fall 2019 Syllabus, Spring 2020 Syllabus
324 Small Business FinanceSpring Semester
Theory and application of entrepreneurial finance and basic financial management for a small firm. Emphasis will be placed on writing and presenting a complete business plan, in addition to examining topics such as financial statements, profitability and break-even analysis, working capital, capital budgeting, and forecasting. Prerequisite: RES-ECON 102 or ECON 103. Spring 2020 Syllabus
360 (formerly 397E) Economic Development and the EnvironmentSpring Semester
This course introduces students to a holistic framework for understanding the relationships between global inequality, economic development, and environmental degradation. A range of practical pathways toward more sustainable global development are discussed and evaluated from economic, societal, and environmental perspectives. Topics include: the development gap; climate change; food security; population growth and distribution; approaches to addressing extreme poverty; biodiversity and ecosystem services; health, education, agriculture, and political institutions in the context of economic development; global carrying capacity and environmental load. Prerequisite: RES-ECON 102 or ECON 103 or RES-ECON 262 or RES-ECON 263. Spring 2020 Syllabus Spring 2021 Syllabus Spring 2022 Syllabus
363 (formerly 397W) The Economics of Water PolicyFall Semester
This course offers a broad overview of domestic and global water policy topics. In particular, the course will explore these topics through the lens of economics. The class covers both water quality and water quantity topics. U.S. topics will include a discussion of major environmental and health statutes such as the Clean Water Act and Safe Drinking Water Act. Environmental justice impacts will be discussed. Global topics will cover a range of subjects including the importance of sanitation and safe drinking water in developing countries. Issues of water scarcity in both domestic and global settings will be explored. Foundational economic topics will cover supply and demand models, non-market valuation techniques, and water pricing. Fall 2021 Syllabus Fall 2022 Syllabus
386 (formerly 397C) Health EconomicsFall Semester
This course introduces students to the theory and methods of health economics and demonstrates how these methods can be applied to understand phenomena and analyze issues in health policy, business, and management. We will explore how scholars and practitioners address empirical questions in health economics and the methods and data that are available. Topics include: COVID-19 and the diffusion and innovation in health care; the demand for health care; health insurance; geographic variation in medical spending; physician labor market; hospital and health systems; pharmaceutical, biotech, and medical devices; drug development, pricing, and FDA regulation; technology assessment; special topics (poll). Prerequisite: RES-ECON 202 or ECON 203 or consent of the instructor. Fall 2021 Syllabus (Wang, L.) Fall 2022 Syllabus (Wang, L.)
394LI Life is Full of Choices: An Integrated Experience SeminarBoth Semesters
Students will reflect on and integrate their collegiate learning and experiences to date by completing the following activities: develop a personal reflective portfolio, inventory and identify skills attained as an undergraduate, update professional materials such as resume, cover letter and networking profiles; and explore career options. Students will participate in weekly team activities in a team-based-learning environment that fosters engagement and peer-to-peer feedback. This 1-credit course, plus one pair of 3-credit courses identified in the Academic Requirements Report, satisfies the Integrative Experience requirement for BS Resource Economics and Managerial Economics majors. Fall 2019 Syllabus, Spring 2020 Syllabus
396 Independent StudyBoth Semesters
Independent Study courses are available to students who wish to pursue a particular topic in depth. They generally take the form of a reading course with weekly one-on-one discussions with the professor about the reading, a research experience with completion of a written mini-thesis report involving regular consultation with the professor, or a combination of these two formats. Other formats are possible with the approval of the professor selected by the student to direct the course. Independent study courses do not count toward any departmental requirements.
See the Resource Economics Independent Study Course Approval Form for details.
398 Practicum (Semester Long Courses), 398Y Practicum (Year Long Courses)
Under the University Internship Program students may work in a professional environment and earn academic credit. The program integrates practical professional experience with the student’s prior and future course of study. Eligible students, working with a faculty sponsor, can earn up to 9 credits of RES-ECON 398 for internship work. RES-ECON 398 is offered as mandatory PASS/FAIL. Students doing internships in summer register through University Without Walls for credits. See Undergraduate Internship Process Student Guide for more details about internships.
414 (formerly 497T) Topics in Time Series and ForecastingSpring Semester
We will explore and develop a variety of univariate time-series techniques. We will show how to use these techniques to make forecasts for different economic variables. We will compare forecasts using univariate methods with forecasts obtained using econometric models. Prerequisite: RES-ECON 213. Spring 2020 Syllabus
428 Managerial Economics (Capstone Course)Both Semesters
Application of economic theory and quantitative analysis to the managerial decision-making process. Topics include: cost and production economics, demand analysis, business forecasting, investment project evaluation, and pricing and promotional strategies. Prerequisites: ACCOUNTG 221 or RES-ECON 324 or FINANCE 301, RES-ECON 202 or ECON 203, RES-ECON 213 or 312, RES-ECON 313. Capstone Course, Fall 2019 Syllabus, Spring 2020 Syllabus
440 (formerly 462) Experimental EconomicsFall Semester
The purpose of this class is to introduce the methodology of experimental economics and what we have learned from the application of these techniques. Economics is fundamentally the study of how individuals, firms and governments allocate scarce resources. This involves decision making which is the focus of experimental economics. The techniques of Experimental Economics are used for a myriad of purposes. Roth (1995) in the introduction to the Handbook of Experimental Economics categorizes these as “Speaking to Theorists”, “Searching for Facts”, and “Whispering in the Ears of Princes” (p. 22). We will focus on “Speaking to Theorists” – how the decision making of real economic agents relates to theory and the implications for public policy “Whispering in the Ears of Princes”. When students complete this class they will be expected to understand how individuals make decisions in a wide range of situations. Students will understand the importance of taking into account preferences for altruism, fairness and reciprocity to the predictions of standard theory, and also be able to identify situations where these preferences are important and when they are overshadowed by factors such as competition. Prerequisite: RES-ECON 202 or ECON 203. Spring 2020 Syllabus
452 Industrial Organization (IE Course)Both Semesters
Market structure models with application to various industries. Firm behavioral strategies under different market structures. The role of product differentiation, advertising, market power, mergers, barriers to entry, price and non-price rivalry. Market performance including welfare, costs, and profits. BS Managerial Economics majors can satisfy their Integrative Experience requirement by taking this course plus Res-Econ 394LI and 453. Prerequisite: RES-ECON 202 or ECON 203. Integrative Experience Course. Spring 2020 Syllabus (Lavoie), Spring 2020 Syllabus (Bauner)
453 Public Policy in Private Markets (IE Course)Both Semesters
Rationale and structure of public policies that affect the operation of private markets in the U.S., with special emphasis on consumer goods industries. Focus on antitrust and competition policies (e.g., those covering collusive restraints of trade, monopolization, and mergers) and on policies that affect product quality and information (e.g., product standards, regulation of advertising and labeling). BS Managerial Economics majors can satisfy their Integrative Experience requirement by taking this course plus Res-Econ 394LI and 452. Prerequisite: RES-ECON 452. Integrative Experience Course. Fall 2019 Syllabus, Spring 2020 Syllabus (Mohapatra), Spring 2020 Syllabus (Rojas)
471/471H Cost Benefit Analysis (IE and Capstone Course)Spring Semester
This course introduces students to theoretical foundations and practical procedures of cost-benefit analysis (CBA) as applied to public natural resources and environmental projects, programs, and regulations. The course will cover critical discussion of strengths and weaknesses of CBA. Students will learn discounting, non-market valuation, and social welfare analysis. This course fulfills the General Education Integrative Experience requirement for BS-ResEc majors when taken with Res-Econ 394LI and Res-Econ 472. Prerequisite: RES-ECON 202 or ECON 203. Integrative Experience & Capstone Course. Spring 2020 Syllabus
472 Advanced Topics in Environment and Resource Economics (IE and Capstone Course)Fall Semester
This course addresses advanced topics in environmental and natural resource economics. It applies tools from microeconomic theory and statistics to analyze a wide array of environmental issues, including energy efficiency programs, conservation initiatives, climate change mitigation, ‘green’ products and ecolabeling, and the impacts of pollution on human health. BS-ResEc majors can satisfy their Integrative Experience requirement by taking this course plus Res-Econ 394LI and 471. Prerequisite: RES-ECON 202 or ECON 203 and RES-ECON 212 or STATISTCS 240. Integrative Experience & Capstone Course. Fall 2019 Syllabus
499CA/499DA Honors Thesis Seminar: Economics of Renewable Energy Transition
Fall Semester (499CA) and Spring Semester (499DA)
Transitioning our energy system to one that is supplied primarily by clean and renewable energy sources is arguably one of the most important challenges of the 21st century. Modern society depends on reliable and affordable energy supply and energy markets affect all economic sectors including corporations and households. The success of the energy transition will depend on the development and deployment of new technology, as well as market mechanisms and policies to support this transition. This course will explore economic aspects of the renewable energy transition, including the costs and benefits of electricity from solar and wind, the environmental impact of energy consumption, and policies to support market growth and technology adoption. We will also cover topics related to equity in energy markets and how the renewable energy transition can contribute to social welfare and equity. Course content will also include topics related to research development, writing, and presentation. Students will develop research proposals in the Fall and complete their Honors Theses in the Spring. Spring 2019 Syllabus, Fall 2018 Syllabus
Notes: CHC Seniors of all majors are encouraged to apply. Prospective students should email Dr. Christine Crago at firstname.lastname@example.org with a brief essay that discusses their (1) coursework and experience in economics and other fields related to renewable energy, and (2) motivations for taking the course.
See Departmental Honors Program section of the handbook for details.
499Y/499T Honors Research/Honors Thesis
See Departmental Honors Program section of the handbook for details. Contact the Commonwealth Honors College Advising Center—301 Commonwealth Honors College—to add this course.