Economics (ECO) CPSO

#

Course numbers with the # symbol included (e.g. #400) have not been taught in the last 3 years.

ECO 470 - Principles of Economics

Credits: 4

Economics is the study of how we coordinate our wants and needs as a society. The economic perspective includes three main concepts: scarcity and choice, rational behavior, and marginal analysis. Pertinent and relevant examples of current events may be used to illustrate economic principles. Students will relate international trade and trade policies to the concept of comparative advantage and the impact on production of goods and services in various countries. This survey course addresses both macroeconomic and microeconomic principles.

Attributes: HumanBehavSocial Sys (Gen Ed)

Equivalent(s): ECO 512G

Grade Mode: Letter Grading

View Course Learning Outcomes

  1. Demonstrate how the concepts of supply, demand, and elasticities are used to explain the fluctuations of economic indicators.
  2. Formulate economic decisions using the basic tenets of scarcity and choice, market models, rational behavior, and marginal analysis.
  3. Analyze current economic data, such as GDP, inflation, and unemployment to explain macroeconomic trends.
  4. Compare and contrast market and command economies that impact what, how, and for whom to produce goods and services for each type of economy.
  5. Distinguish between allocative and productive efficiency and calculate the cost of economic resources for each method. 06.Relate international trade and trade policies to the concept of comparative advantage and the impact on production of goods and services in various countries.

View Course Learning Outcomes

ECO 580 - International Economics

Credits: 4

This course is an in-depth look at how the international market for goods and services works. Students may investigate the workings of tariffs and non-tariff restrictions on trade, trade regulations, and industrial policies, first in the developed economies and then in the developing countries. Regional and multilateral trade agreements are examined. The course may examine an investigation of international monetary relationships, including balance of payments, foreign exchange and exchange rate of determinants, and how balance of payments adjustments are made.

Attributes: HumanBehavSocial Sys (Gen Ed)

Prerequisite(s): ECO 470 with a minimum grade of D- or ECO 512G with a minimum grade of D-.

Equivalent(s): ECO 600G

Grade Mode: Letter Grading

View Course Learning Outcomes

  1. Illustrate how the theories of international trade and comparative advantage evolve according to changes in policy, trade agreements, and government interventions.
  2. Analyze the market effect of tariffs, non-tariff impediments, and regulations on economic relations between importing and exporting countries.
  3. Evaluate the impact of different international trade regulations on developing nations and their societies.
  4. Relate how international factor movements and multinational corporate operations impact the economies of nations.

View Course Learning Outcomes

ECO 635 - Economics of Artificial Intelligence

Credits: 4

This course examines Artificial Intelligence (AI) as an enhancement to human intelligence in business practice in terms of various senses and processes such as language, vision, analysis and decision-making. This course has a focus on developing strategies for maximizing the revolutionary power of AI as it impacts functions within businesses and economies. Selected topics may include productivity, prediction, innovation, labor, leadership and privacy. The primary course objective is to design an AI based plan for successfully leading your life, your career and your organization. Students may evaluate how AI is being employed in the private and public sectors such as in healthcare, engineering, culture, entertainment, hospitality, agriculture, law, journalism, politics, and in government.

Attributes: HumanBehavSocial Sys (Gen Ed)

Equivalent(s): ECO 605G

Grade Mode: Letter Grading

View Course Learning Outcomes

  1. Illustrate and justify examples of AI implementation where decisions are appropriately managed by AI, by humans, or by AI-human collaboration according to ethical, technical, or commercial interests.
  2. Formulate strategies for achieving positive consumer responses to AI implementations in prediction, creation, learning, and relating according to evidence-based research.
  3. Appraise the ethical aspects of AI including applications for propaganda, weaponization, and surveillance.
  4. Evaluate how AI is being employed in the private and public sectors such as in healthcare, engineering, culture, entertainment, hospitality, agriculture, law, journalism, politics, and in government.
  5. Analyze the tradeoffs and benefits of using AI in surveillance, the development of human intelligence, and in global conflict.

View Course Learning Outcomes

ECO 707 - Resource Economics

Credits: 4

This course examines sustainable resource use and acquisition. In an ever-changing, increasingly volatile global environment, consistent access to quality labor, materials, and political capital is paramount. Real-world data analysis and the use of evidence-based models enables forward-thinking organizations to identify the essential resources required for their progress. The interdependence among material resources, human talent, and political capital may also be addressed.

Prerequisite(s): ECO 470 with a minimum grade of D- or ECO 512G with a minimum grade of D-.

Equivalent(s): ECO 607G

Grade Mode: Letter Grading

View Course Learning Outcomes

  1. Attribute the most common economic causes of environmental and resource policy problems.
  2. Analyze potential environmental and resource policy problems and the major economic policy instruments used to correct them in market economies.
  3. Propose the use of an economic logic model to an environmental and resource issue that produces an optimal outcome.
  4. Evaluate how market failures impact on the environment.

View Course Learning Outcomes

ECO 710 - Behavioral Economics

Credits: 4

Behavioral economics integrates the business of life, which is economics, with the science of human behavior, which is psychology. The economics model holds that people are rational and act in their own best interests. Psychology focuses on the cognitive, cultural, and biological influences in decision-making. This course may cover the insights of behavioral economics toward developing solutions to the real-world challenges experienced in management, marketing, IT, entrepreneurship, strategy, communications, finance, and other domains.

Prerequisite(s): ECO 470 with a minimum grade of D- or ECO 512G with a minimum grade of D- or ECO 635 with a minimum grade of D- or ECO 605G with a minimum grade of D- or PSY 410 with a minimum grade of D- or PSY 501G with a minimum grade of D- or SOC 410 with a minimum grade of D- or SOC 501G with a minimum grade of D-.

Equivalent(s): ECO 610G

Grade Mode: Letter Grading

View Course Learning Outcomes

  1. Illustrate how fairness and altruism can be mutually profitable counterpoints to the bottom-line nature of the market.
  2. Determine how Artificial Intelligence (AI) and behavioral economics are connected, such as with self-driving cars, pricing, and competitive games.
  3. Assess how individuals and firms may use nudging principles in order to direct behavior toward doing the right thing materially and ethically.
  4. Analyze the psychological factors in finance including economic bubbles, following the herd trends, and loss aversion.

View Course Learning Outcomes