Business Economics Course Descriptions

Course descriptions are listed numerically. Prerequisites, if any, are indicated in italics above the course descriptions. These prerequisites have been established to assure an adequate and uniform background for students in advanced classes. Franklin University reserves the right to alter course offerings or course content without notice. Not all courses are offered every trimester.

ECON 210
Introduction to Microeconomics (4 cr. hrs.)

Prerequisite(s): None.
An introduction to economic theory involving the examination of how decision making by firms and individuals is shaped by economic forces. Emphasis is placed on demand, supply, market equilibrium analysis, and basic market structure models. The invisible hand as the driving force for economic decisions as well as market externalities are discussed. The class concentrates on providing a balanced approach to studying economic agents’ behavior and the global implications and outcomes.

ECON 220
Introduction to Macroeconomics (4 cr. hrs.)

Prerequisite(s): None.
An introduction to economic theory involving the basic underlying causes and principles of the operation of an economic system. Emphasis is placed on studying the economy as a whole. Issues of inflation, unemployment, taxation, business cycles and growth are discussed in the context of the global economic system. 

ECON 321
Intermediate Microeconomics (4 cr. hrs.)

Prerequisite(s): Introduction to Microeconomics (ECON 210), Introduction to Macroeconomics (ECON 220), and Fundamental Algebra (MATH 150). 
This course provides a further examination of profit maximizing strategies by firms and individuals. Evaluation of consumer behavior, firms’ production decisions, and market power are at the core of the analysis. Special attention is given to the asymmetric information considerations, game theory, and externalities. 

ECON 322
Intermediate Macroeconomics (4 cr. hrs.)

Prerequisite(s):  Introduction to Microeconomics (ECON 210), Introduction to Macroeconomics (ECON 220), and Fundamental Algebra (MATH 150).
This course examines the differences between the economy in the short run and in the long run. A number of macroeconomic models are considered, and the results are used to conduct macroeconomic policy discussion on stabilization policies and government debt.

ECON 340
Money, Banking and Financial Markets (4 cr. hrs.)

Prerequisite(s): Introduction to Microeconomics (ECON 210), Introduction to Macroeconomics (ECON 220), and Principles of Finance (FINA 201 or 301). Not open to students with credit for FINA 340.
This course provides an overview of the financial system. The roles of money, financial intermediaries, financial markets, and central banks are discussed in the context of global economy.

ECON 410
Economics Internship (1-4 cr. hrs.)

Prerequisite(s): None.
This course provides qualified students with the opportunity to receive academic credit for supervised professional training and experience in an actual work environment, or for participation in the Students In Free Enterprise (SIFE). Internship involves a Learning Contract, outlining the student’s responsibilities and expectations. Contact with the faculty representative is required. Participation cannot be guaranteed for all applicants.

ECON 420
Forecasting (4 cr. hrs.)

Prerequisite(s): Introduction to Microeconomics (ECON 210), Introduction to Macroeconomics (ECON 220), Fundamental Algebra (MATH 150), and Statistical Concepts (MATH 215).
This course provides a hands-on experience for creating working econometric models to forecast business activities, including revenues, costs, and profits. Trends, seasonal and cyclical fluctuations, as well as error term dynamics, are analyzed.

ECON 450
History of Economic Thought (4 cr. hrs.)

Prerequisite(s): None.
This course provides a broad introduction to the development of economic thought through time. The ideas and concepts are considered in their historical perspective. Contributions by leading economists, emergence of a variety of schools of economic thought, their relevance to the current economic problems constitute the core of the analysis.

ECON 480
Special Topics in Economics (1-4 cr. hrs.)

Prerequisite(s): Determined on a course-by course basis and published online in the trimester Course Schedule.
A variable content classroom course in Economics in which students pursue topics or subjects of current interest that are not part of the regular curriculum. A specific course description will be published online in the Course Schedule for the trimester the course is offered.

ECON 495
Sustainable Economic Growth (4 cr. hrs.)

Prerequisite(s): Completion of all required and elective Major Area courses, or permission of the Program Chair.
This course serves as a summary of the theoretical perspectives and techniques’ application for developing a cohesive model of a sustainable economy. Factors affecting economic growth are discussed. Issues related to depleting resources, role of innovation, and ways for sustainable development are at the core of the analysis. The roles of government and inter-government institutions are evaluated. The final project introduces an idea for an increased sustainability effort and is expected to provide a measurable impact.

ECON 499
Independent Studies in Economics (1-4 cr. hrs.)

Prerequisite(s): Minimum 2.00 cumulative GPA, at least 16 credit hours completed at Franklin, related coursework completed with minimum grade of “B” and permission of Program Chair.
Independent studies courses allow students in good academic standing to pursue learning in areas not covered by the regular curriculum or to extend study in areas presently taught. Study is under faculty supervision and graded on either a Pass/No Credit or a letter grade basis. (See “Independent Studies” for more details.)