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BUSINESS Danc 200. INTRODUCTION TO ARTS ADMINISTRATION The introduction to Arts Administration course approaches concepts from the unique perspective of the not-for-profit sector, specifically board development, long range planning, grant writing, marketing, public relations and budgeting. 3 credits. Offered every other year. Next offered in 2011-2012. Econ 105. MACROECONOMICS A study of mixed capitalism in aggregate form designed to provide the student with a knowledge of the American economic system. Topics include the causes of recession, unemployment, inflation and the uses of fiscal and monetary policies. 3 credits. Econ 106. MICROECONOMICS A course emphasizing the economic activities of individual consumers and producers. Topic coverage includes demand-supply analysis, the costs of production and price and output determination by the market structure. 3 credits. Econ 200. INTERNATIONAL ECONOMICS This course is designed to provide students with an understanding of the global economy especially in the area of international trade. Topics covered include classical and modern theories of international trade, theories of tariffs and non-tariff barriers, bi-lateral and multi-lateral trade negotiations, commercial policy of the US and promotion of trade and growth. Prerequisite: Econ 106. 3 credits. Econ 250. ECONOMICS OF POVERTY This course introduces students to economic theories of poverty, ways to measure it (and the problems associated with these measures), and a description of the success and failures of public policies designed to curtail it. It features a blending of economic reasoning from theoretical and empirical perspectives, which will become part of the students’ toolkit in their further endeavors, and a critical comparison of the economics approach and Catholic social teaching. The students will come out of the course becoming critical and intelligent participants in public policy debates and learn to form their own policy recommendations based on their analysis. 3 credits. Econ 260. ENVIRONMENTAL ECONOMICS AND POLICY The primary goal of this course is to enhance the student’s understanding and ability to critically assess contemporary environmental policy. It aims at equipping students with the economic methods and tools used to analyze environmental issues, combining theoretical analysis with discussions on specific environmental policies as applied to water and air pollution, energy issues, climate change, and human health issues. Analytical techniques for estimating the effects of proposed programs are examined. Strengths and weaknesses of benefit-cost analysis in the regulatory process are explored in the context of political economy. Current environmental policy is evaluated. 3 credits.
Econ 305. INTERMEDIATE MACROECONOMICS The goal of this course is to provide the student with a thorough understanding of the behavior of the economy and the likely effects of government stabilization policies on economic aggregate variables. Models that would determine aggregate output, interest rates, prices, inflation, and other aggregate variables such as fiscal and trade surpluses and deficits will be studied. Upon completion of the course, the student will be able to analyze conflicting views of business cycles, stabilization policy, and inflation-unemployment trade-offs. Prerequisite: Econ 105. 3 credits. Econ 306. INTERMEDIATE MICROECONOMICS This is an intermediate-level course dealing with the microeconomic theory of consumer and producer behavior. The course extends basic microeconomics concepts and theory to an intermediate level by introducing more advanced mathematical and analytical techniques to concepts of consumer choice, profit maximization, and firm strategy in a variety of market structures. Particular attention is given to the theory of production and cost and to the effects of various market structures on resource allocation. The goal of the course is to provide the students with a solid analytical framework for analyzing microeconomic problems, which are crucial for success in upper division courses, business management, and public policy analysis. Prerequisite: Econ 106. 3 credits. Econ 320. Economic Development of Latin America This course provides a comprehensive yet accessible review of major economic and social issues faced by Latin American countries in the past and present, including balance of payments problems, stabilization, inflation, poverty, inequality, and the outcome of the latest economic reforms. Upon completion of the course, the student will demonstrate an understanding of the current conditions and prospects for Latin American economies, knowledge that would be valuable for students in any major with an interest in the region, (i.e., intelligence studies, sociology, and political sciences) and especially for business and international business students considering the risks and opportunities of investing in or working in Latin America. Prerequisite: Econ 105. 3 credits. Econ 406. MANAGERIAL ECONOMICS Managerial Economics focuses on the application of economic theory to managerial decision-making. It applies statistical and quantitative tools and the methodological approaches commonly used by economists to business decisions such as demand estimation, product pricing, profit maximizing level of output, resource management in the short- and long-run, market analysis, risk analysis and strategic competition. In this course, topics will be presented through the use of case studies that establish a situation in which managers must make key decisions about a firm and its products. Microeconomic principles such as supply and demand, elasticity, short-run and long-run shifts in resource allocation, diminishing
BUSINESS returns, economies of scale, and pricing are applied in the analysis. Prerequisites: Econ 106, Math 109. 3 credits. Fin 245. FINANCIAL INSTITUTIONS AND MARKETS A course examining the role of money in the economic system, the importance of financial institutions and how they help meet society’s needs and the power and significance of monetary policy in the economy. Prerequisite: Econ 105. 3 credits. Fin 301. INVESTMENTS A study of the environment and fundamentals of investing, including selection and management. Investment vehicles covered include: stock options, convertible bonds and preferreds, real estate, futures contracts, collectibles, and precious metals. Prerequisite: Econ 105. 3 credits. Fin 305. FINANCIAL PLANNING An overview of the practices and processes of the professional financial planning employed in the financial services industries. An introduction to emerging regulatory environment, capital accumulation methods, risk management, income tax and investment management. 3 credits. Fin 310. EMPLOYEE BENEFITS AND RETIREMENT PLANNING I An overview of the various qualified and nonqualified plans. Study includes defined benefits, defined contribution, target benefit, and profit-sharing plans. Costs and funding requirements of federal laws and their collective effect on retirement planning as well as tax consideration are reviewed. 3 credits. Fin 315. PRINCIPLES OF RISK MANAGEMENT An introduction to the principles of risk management through analysis of risk exposures and risk management techniques. Risk transfer through the use of life, health, casualty, and liability insurance as well as contract selection is studied. Includes study of the private insurance industry, its regulation and insurer functions, claims administration and underwriting. 3 credits. Fin 350. FINANCIAL MANAGEMENT Financial data are evaluated as a method of providing information to managerial decision-makers. Topics include a definition of the finance function, ratio analysis, forecasting, planning and control, capital budgeting, asset management, and leverage. Prerequisites: Acct 101, Econ 105. 3 Credits. Fin 360. INTERNATIONAL FINANCE A study of the problems posed by the international financial environment in which corporations operate. Topics covered include foreign exchange markets, forwards, futures, international capital budgeting, international diversification, long-term international financing, and country risk analysis. The course will also focus on the role of money in the global economy, including such topics as interest rates, banking, monetary policy, and depository and non-
2010-2011 Mercyhurst College Course Catalog • www.mercyhurst.edu