Global Economics - Sophomore

COURSE #: DMNS 2012

Course Description

Linear Algebra is a foundational course at UCA. It can be applied in business, economics, sociology, ecology, demography, engineering, and other areas. In this course, students will study mathematics that deals with the system of linear equations and their applications, operations with matrices, applications of Markov chains, applications of determinants, eigenvalues and eigenvectors and their applications.

Course Learning Outcomes

Upon successful completion of this course, students should be able to:

• Set up and solve a system of equations to fit a polynomial function to a set of data points.
• Use matrices and Gaussian and Gauss – Jordan eliminations to solve a system of linear equations.
• Do operations with matrices
• Find the inverse of a matrix.
• Use a stochastic matrix to find the nth state matrix of a Markov chain.
• Find steady state matrices of absorbing Markov chain.
• Use matrix algebra to analyze an economic system (Leontief input- output model).
• Find the least square regressions line for a set of data.
• Use Cramer’s rules to solve a system of n linear equations in n variables.
• Model population growth using an age transition matrix and an age distribution vector.

Course Assessments and Grading

COURSE #: DMNS 2035

Course Description

This is an introduction to statistics for students in earth and environmental sciences. It assumes zero    to little prior experience in statistics but does assume a good background and understanding of single variable calculus. This course will cover elementary probability including introducing random variables, discrete and continuous probability distributions so that students are able to use the language of probability in statistics. The second part of the course will cover inferential statistics wherein students will learn how to draw conclusions about a population based on a random sample.

Course Learning Outcomes

At the end of this course the students will be able to:

• apply a variety of methods for explaining, summarising and presenting data and interpreting results clearly using appropriate diagrams, titles and labels when required
• summarise the ideas of randomness and variability, and the way in which these link to probability theory to allow the systematic and logical collection of statistical techniques of great practical importance in many applied areas
• have a grounding in probability theory
• perform inference to test the significance of common measures such as means and proportions
• use simple linear regression and correlation analysis and know when it is appropriate to do so.

Course Assessments and Grading

COURSE#: ECON 2001

Course Description

The course on Intermediate Microeconomics is one of the fundamental disciplines for the education of an economist. It develops analytical abilities and helps students to think like economists. It focuses on the behavior of three main economic agents: individuals, firms, and the government, and factors that determine this behavior. It introduces main tools of microeconomic analysis such as conditional optimization and graphical analysis to explain how markets work, and how economic agents make their decisions. In addition, elements of game theory are used to analyze strategical behavior among different economic units. Knowledge of microeconomics provides a basic framework for understanding individual choices, firms’ market strategies, government policies, and many other issues.

Course Learning Outcomes

After completing the course students should be able to:

• use microeconomic theory to explain rational consumer behavior in situations of perfect and imperfect information
• explain the strengths and limitations of the “utility theory” approach to modelling consumer behavior
• explain under what assumptions unregulated markets lead to efficient allocations of goods and problems
• explain how a profit-seeking company with market power can capture more surplus by engaging in price discrimination
• analyze the role of strategies and payoffs in a game
• demonstrate how the efficient quantity of a public good is determined in an economy.

Course Assessment and Grading

COURSE#: ECON 3018 

Course Description 

This course aims to provide students with an introduction to, and overview of, a wide range of research methods in economics, their uses and limitations. It will introduce students both to some of the main theoretical issues involved in research and to practicalities of the design and analysis of results. This course will help students develop research skills, critically analyze the research of others, and improve writing and presentation skills. We will consider a variety of approaches to empirical economic research. Students will gain familiarity with research methods used in economics and write a critical review of the literature on an economic topic of their choice.    

Course Learning Outcomes 

• Describe how theoretical, epistemological, and ontological considerations are applied to particular research context in economics 
• Explain key components of research methods used in economics 
• Formulate a research question to study a research problem 
• Identify the qualitative and/or quantitative research methods to investigate a research question 
• Identify literature and data to support the objectives of the research 
• Synthesize existing literature to identify knowledge gaps for a research problem 

Course Assessment and Grading

COURSE #: ECON 2007

Course description

The Financial Economics course is an introductory course in finance built on general principles that apply across all subfields – corporate finance, investment, and financial markets and institutions. It introduces the three main “pillars” to finance – optimization over time (the analysis of intertemporal trade-offs), asset valuation and risk management (including portfolio theory).  Finance principles to decision problems faced by households and firms are applied through case-study review. The course also covers the theory and practice of asset pricing and issues in corporate finance.

Course learning outcomes

Upon successfully completing this course, students will be able to:

• Discuss finance concepts and principles
• Evaluate financial decisions of a firm
• Apply representative agent analysis to solve a simple portfolio choice problem
• Apply fundamental valuation models to price financial instruments
• Provide a conceptual framework for the management of risk
• Apply capital budgeting tools to make informed decisions about viability of investment projects and the optimal schemes to finance those projects
• Apply methods for quantifying various types of risk in finance and explain the risk-return trade-off

Course Assessments and Grading

COURSE: # ECON 2006

Course Description

This course focuses on ways to manage personal finances effectively in order to increase savings and reach financial goals and examines ways of how financial reporting is prepared and communicated by businesses. The course enables students to develop their knowledge and understanding of principles and purposes of accounting for individuals, businesses and non-for-profit organization.

Course Learning Outcomes

After completion of the course, students should be able to:

• Define the basic accounting vocabulary, accounting principles, and concepts
• Explain ways to prepare a personal and family budget to reach financial goals
• Discuss ways to increase personal savings
• Perform accounting tasks for non-current assets, inventory, receivables, non-current liabilities, current liabilities, and equity
• Prepare a multiple-step income statement, statement of financial position, and cash flow statement of a company
• Explain the interactions between the financial statements and the way they are used by investors, creditors, regulators, and managers
• Record business transactions using accounting software
• Analyze the financial statements of a company.

Course Assessment and Grading

COURSE #: HUSS 2053

Course description

Ethics is an introductory course which explores the broad thematic and historical view of ethics, theories and their implications. In this course students will learn about the major ethical traditions and teachings. Throughout the course students will gain basic information about the development of ethics in major religious and secular context, in the Eastern and Western countries. The course also highlights some of the major contemporary ethical issues and debates about ethics of research, science, and business.

Course learning outcomes

At the end of the course, students will be able to:

• Discuss the moral issues of the contemporary society
• Examine and question assumptions about the concepts of good and bad
• Explore the connection between ethical theories, morality and practice of ethics
• Demonstrate knowledge of major themes and arguments in ethics
• Apply ethical concepts and principles to practice
• Reveal a well-reasoned ethical position in writing

Course Assessments and Grading: