The Economics Department offers a Bachelor of Arts degree that provides students with a framework for examining the world in which they live and work. Economics is a way of thinking, developed by studying the foundations of microeconomic and macroeconomic theories and by applying them to various contemporary issues and policies.

The economics major prepares students for entry into professional positions in private firms, government, or not-for-profit organizations, and it creates a foundation for successful future graduate studies in many areas. Students may take no more than 45 semester hours within the Department.

The Bachelor of Arts economics major consists of 27 semester hours, of which at least 15 hours must be completed in economics courses numbered above 300. In addition, students must sit for an oral examination during the last semester of their senior year. (The School of Business and Economics also offers a Bachelor of Business Administration degree with an emphasis in Economics through its Managed Academic Path to Success curriculum.)

The minor consists of ECN 150 and 151, MAT 126 or 320, and three elective courses from the Department of Economics, including 6 hours in courses numbered 300 or above.

Majors may attain Departmental Honors by attaining a grade point average of 3.75 or higher in all courses taken in the major (transfer students must attain a 3.75 or higher grade point average on all courses taken at Mercer in the major and a combined grade point average of 3.75 or higher on all courses taken in the major at Mercer and at other institutions).

Courses

ECN 150. Principles of Microeconomics (3 hours)
Prerequisite: mathematics competency or completion of a college mathematics course.
A study of the basic tools of economic analysis and principles necessary to appreciate economic relationships, business behavior, and consumer behavior. Special emphasis will be given to the areas of supply and demand, marginal analysis, and the theory of the firm.

ECN 151. Principles of Macroeconomics (3 hours)
Prerequisite: mathematics competency or completion of a college mathematics course.
The study and analysis of national income accounting, income determination theory, money and monetary policy, fiscal policy, international trade, and the theory of economic growth. Special attention will be given to current economic conditions and trends.

ECN 301. Money, Credit, and Banking (3 hours)
Prerequisites: ECN 150, 151, and junior status (or consent of instructor).
A functional study of monetary, banking, and credit structures; including a critical examination of monetary theory and policy recommendations.

ECN 302. Intermediate Microeconomic Theory (3 hours)
Prerequisites: ECN 150, 151, and junior status (or consent of instructor).
A study of price and distribution theory relevant to households, firms, and industries in perfect and imperfect competition. Theories of factor prices and general equilibrium are also examined.

ECN 303. Intermediate Macroeconomic Theory (3 hours)
Prerequisites: ECN 150, 151, and junior status (or consent of instructor).
A study of the forces determining the level of income, employment, and prices. Monetary theory and theory of economic fluctuations are reviewed, and public policies dealing with level of income and with aggregate economic welfare are examined.

ECN 353. Introduction to Econometrics (3 hours)
Prerequisites: ECN 150, ECN 151, MAT 126 (or 320), MAT 141 (or 191), and junior status (or consent of instructor).
A study of the methods of empirically verifying economic theory. Statistical inference applied to economic models, both macro and micro. Estimation of single and multiple equation models. A partial listing of topics covered includes: stochastic equations, residuals, parameter estimation via least squares and other methods, the coefficient of determination, multicollinearity, serial correlation, the identification problem, and estimation of simultaneous equation macro models of the U. S. economy.

ECN 432. Urban and Regional Economics (3 hours)
Prerequisites: ECN 150, ECN 151, and one ECN course numbered 300 or higher, or permission of instructor.
A study of poverty, housing, land use, transportation, and public services, with special references to social problems arising from the uneven distribution and immobility of resources.

ECN 441. International Economics (3 hours)
Prerequisites: ECN 150, ECN 151, and one ECN course numbered 300 or higher, or permission of instructor.
A study of the theory and mechanisms of international trade, and the international monetary mechanism. Barriers to the movement of goods and services and recent developments in the international organizations aimed at relaxing restrictions are also studied. Credit may not be earned in both ECN 441 and ECN/FIN 444.

ECN 443. Labor Economics (3 hours)
Prerequisites: ECN 150, ECN 151, and one ECN course numbered 300 or higher, or permission of instructor.
A study of the major problems of the United States and the social and economic policies affecting the labor movement; the problems of labor organization and trade unionism; recent and pending legislation in the states and nation.

ECN 445. Industrial Organization (3 hours)
Prerequisites: ECN 150, ECN 151, and one ECN course numbered 300 or higher, or permission of instructor.
A study of industrial organization and government regulation of business enterprise; market structures, conduct, and performance; antitrust.

ECN 448. Seminar in Economic Growth (3 hours)
Prerequisites: ECN 150, ECN 151, and one ECN course numbered 300 or higher, or permission of instructor.
A seminar in economic growth. Areas of emphasis are as follows: nature of growth; what is not growth; importance of growth; the physical environment issue; growth over time and among nations; sources of growth; theories of growth and supporting empirical evidence; interaction of growth with economic stability and income distribution; and institutional, monetary, and fiscal policies related to growth.

ECN 452. Environmental Economics (3 hours)
Prerequisites: ECN 150, ECN 151, and one ECN course numbered 300 or higher, or permission of instructor.
An examination of the interrelationship which exists between the physical environment and the economic system. Models of general equilibrium analysis, welfare economics, and property rights are developed; these are supplemented by readings from scholarly journals. Emphasis is placed upon the issue of free markets’ ability to allocate scarce environmental resources efficiently (including intertemporally) among competing uses.

ECN 477. Special Topics in Economics (Subtitle) (1-3 hours)
Prerequisites: ECN 150, ECN 151, and one ECN course numbered 300 or higher, or permission of instructor.
An intensive study of some significant topic in economics not otherwise covered in the School’s course offerings. Topics will be chosen in consultation with students who register for the course.

ECN 478. Research in Economics (Subtitle) (1-3 hours)
Prerequisites: ECN 150, ECN 151, and one ECN course numbered 300 or higher, or permission of instructor.
A research-oriented course focusing on an important topic in economics not otherwise covered in the School’s offerings. The course features student research, independent study, and discussion.

ECN 482. Economics Senior Oral Examination (0 hours)
Required economics senior oral examination. Students should enroll in this course during the semester they plan to take the oral examination required of economics majors. Graded on S-U basis.

ECN 494. Honors Thesis (3 hours)
Prerequisite: admission to the honors program.
Individual research leading to the completion of an honors thesis. Students admitted into the Honors Program register for one credit hour in each of three successive semesters (including summer). Only grades of satisfactory or unsatisfactory will be assigned.