Purdue University

Economics Undergraduate Courses

• ECON 251: Microeconomics
  Required for Major, Minor, and Econ Honors
  Typically Fall, Spring, Summer

  Get a grip on price theory and resource allocation, supply and demand curves, principles of microeconomic analysis and their application to market behavior and public policy issues.  Students may no longer establish credit in this course by passing an examination administered by the department.

  "The best course I ever HAD to take; my foundation for understanding Economics." - Freshman Econ major (who speaks four languages)

• ECON 252: Macroeconomics
  Required for Major, Minor, and Econ Honors
  Typically Fall, Spring, Summer

  Analyze the forces affecting national income, employment, interest rates, and inflation, with emphasis on the role of government policy in promoting economic growth and stable prices.

  "This course will give information and background to explain economic events, as well as suggest policies to improve the economic performance of countries." - Senior Econ major (and Econ club officer)

  "I liked this course because it explains how events in the economy affect your everyday life." - Sophomore Econ major (and Sailing Club president)

• ECON 340: Intermediate Microeconomics (Prerequisite: 251)
  Required for Major and for Econ Honors
  Typically Fall, Spring 

  Learn about consumer behavior and demand, decisions under uncertainty, production and cost, factor demand, market structure, general equilibrium and welfare. Get the tools to analyze the behavior of individual economic units.

  "This is a very theory oriented course which will definitely help you in the more specific courses you take later on. Get ready to GRAPH." - Junior Econ major (Econ club and weekend warrior jock)

• ECON 352: Intermediate Macroeconomics (Prerequisites: 251, 252, upper division)
  Required for Major and for Econ Honors
  Typically Fall, Spring 

  More rigorous (yes!) treatment of macroeconomic theory with emphasis on determinants of consumption, investment, net exports and foreign exchange rates, the level of unemployment, inflation, and the long-run rate of economic growth.

  "This is a good addition to Econ 252 because it really adds a deeper insight into macroeconomics. I think going in depth like this makes the material more intuitive and easier to understand." - Junior Industrial Mgmt major with Econ Honors

  "I wouldn't call it a 'fun' class, but a useful one." - Junior Econ/Com major (interning with Ford)

• ECON 360: Econometrics (Prerequisites: 251, 252, MGMT 305)
  Required for Economics Honors Program
  Fulfills an Economics elective
  Typically Fall 

  Examine the statistical techniques used in economic theory. Explore estimation of the demand function and the problems associated with such estimation. Challenge your noodle; prepare for graduate school and research.

  "This class provides a challenging opportunity to experience the actual type of work done by economists ." - Junior Econ/Engr major (studied abroad in Australia and Honduras)

• ECON 361: Antitrust & Regulation (Prerequisite: 251)
  Fulfills an Economics elective
  Typically Spring 

  Study the influence of laws and regulations on the behavior of firms and increase your understanding of antitrust (the rules by which firms must play), economic regulation (the area of economics that can't be divided from politics), and social regulation (to prevent social harm). Is Microsoft restraining trade by tying their web browser to Windows? Is this unfair competition or just good business? What are the economic ramifications? Should electricity be deregulated? Should breast implants be taken off the market?

  "I never thought I would be organizing an opening statement, much less the defense of Kodak, for my classmates playing the part of the FTC." - Senior Econ major (interned with Chicago Clearing House in electronic commerce)

• ECON 370: International Trade (Prerequisites: 251 or 252)
  Fulfills an Economics elective
   

  Consider aspects of international economic behavior of households, firms, and national governments. Develop and use tools of intermediate economic theory to discuss the benefits and costs of international economic interdependence and the imposition of trade barriers. Who gains and who loses when trade increases? How do trade barriers hurt consumers? Learn the tools to help you answer these questions.

  "Is it true that the rapid dynamic growth of developing countries' economies is the main cause of increasing unemployment rates in developing countries? ECON 370 is the right course to answer this be or not to be puzzle..." - Senior Econ major (who also loves computer science)

• ECON 371: International Monetary Problems (Prerequisites: 251, 252)
  Fulfills an Economics elective, undergraduates welcome
   

  A mixture of lectures and case discussions covering historical changes in the world's monetary system, problems with balance of payments adjustments, exchange rates and foreign exchange markets, international capital markets and financial flows, the international transmission of business fluctuations, monetary and fiscal policy in an interdependent world, and crises in developing countries.

• ECON 380: Money & Banking (Prerequisites: 251, 252)
  Fulfills an Economics elective
  Typically Fall, Spring 

  Analyzes the economics of money, monetary systems, investments and financial intermediaries in modern industrial economies. Spend the semester learning about money, financial asset markets, the growth of the banking industry, the role of central banks, regulation of financial intermediaries, and how to read the Wall Street Journal.

  "This is a great class for anyone - whether you are an ECON major or just interested in learning about something new. It provides a foundation for understanding investing on a personal or larger level. " - Sophomore Econ/Pol Sci major (Econ club and avid roller blader)

• ECON 385: Labor Economics
  Fulfills an Economics elective
  Typically Spring 

  Learn about labor markets. Topics to consider: Labor supply decisions, investment in human capital, compensating wage differentials, discrimination, labor contract theory, unions, compensation programs, signaling in labor markets, unemployment, minimum wage laws, retirement, and workplace safety.

  "This is a theory driven course that includes real-world applications of the models learned in the classroom. The class presentations and research papers allow you to search out and discover how the labor economy really works." - Robert Wilson, senior Econ major (who restores antique muscle cars)

• ECON 422: Public Finance & Taxation (Prerequisite: 251)
  Fulfills an Economics elective
  Typically Spring 

  Dig into governmental budget policy in modern economics. What are the effects of budget policy upon the economy's stability and growth? A general framework of fiscal analysis, with focus on policy effectiveness and evaluation. (This course was not offered for several semesters but is back by popular demand.)

  "To tax and be wise, no more than to love and be wise, is not given to man. (anon)"

• ECON 451: Game Theory (Prerequisite: 251)
  Fulfills an Economics elective
  Typically Fall 

  Play in class. In this course, economic, political, and social interactions are represented as games, in which strategies and resulting outcomes can be analyzed.

  "Game theory can be seen in everyday life - purchasing a car, watching "The Price is Right," prison (ha). The class is interactive and emphasizes topics from previous ECON classes such as utility, preferences and cost analysis. Expect a fast-paced semester and maybe a chance to earn some spending money ." - Senior Econ major (and workaholic graduating early)

• ECON 461: Industrial Economics (Prerequisite: 251)
  Fulfills an Economics elective
  Typically Fall 

  Take a look at firm behavior under different market structures, and understand more about what leads firms to compete or cooperate. Use theoretical models of firm and industry behavior to explain and analyze real-world examples of firm strategy and performance. Learn how FAA safety regulations requiring airlines to check photo IDs helped the airlines earn more money. Play a game and get homework credit.

  "I really enjoyed testing my decisions as CEO of an imaginary firm, and actually seeing the resulting profit, market share, and demand in the market." - Senior Econ major (organized a field trip for Econ students to Chicago Board of Trade) 

• ECON 466: International Economics (Prerequisite: 251, 252)
  Fulfills an Economics elective
  Typically Fall 

  Topics in international economics, with emphasis on real, rather than monetary, aspects.  Coverage typically requires more advanced techniques or more detailed treatment than Econ 370

• ECON 490C: Economics and Ethics (Prerequisite:  251 or 252)
  Fulfills an Economics elective
  Typically Fall 

  Excuse me, do you have change for a paradigm? If there is no free lunch, then what's the opportunity cost of thinking like an economist? Take this ANTI course to engage your right brain and complicate your thoughts as you begin to question black and white-ness in life.

• ECON 499: Senior Honors Thesis (Prerequisite: 360 or equivalent)
  Required for Econ Honors
  Fulfills an Economics elective
  Typically Spring 

  Research and produce a research paper under the direction and supervision of the faculty. In addition to a paper, completion of your research project typically involves presenting your findings to other participants in an informal workshop setting.

  "Don't let the word 'thesis' scare you. This class should be thought of as an excuse to do some independent research on a subject that you find interesting. My classmates and I are researching the stock market crash of 1987, the Asian currency crisis, and interest rates. As long as you pick a subject that you're interested in, doing the research is a lot easier." -- Senior Econ major with Honors (music lover who can't pass up a good R&B cd).

  "This is probably the only course where the student gets to choose the topic to study for an entire semester. You also decide how and when to study the chosen topic. So, it's a great course for people who like working independently and will provide good preparation for students thinking about graduate school or research careers. A strong background in mathematics, statistics, and econometrics is very useful for the course as it involves reading economic literature and doing some empirical research work." -  Senior Econ major with Honors (understands cricket)