ECONOMICS QMB 4956 International Studies in Quantitative Methods. F, S, SS. Credits: 1 to 4; Maximum of 4 credits; May be repeat- ed with a change of content up to a maximum of 12 credits. Admission to an approved study abroad program and per- mission of the Department This course is designed to provide a mechanism by which formal course work taken at a foreign universi- ty as part of an approved study abroad program can be recorded on the transcript and counted toward graduation at the University of Florida. QMB 4970 Honors Thesis. F, S, SS. Credits: Itt; Prereq: 100 hours earned and 3.6 UF GPA. A thesis is required for the awarding of the High or Highest Honors designation. To qualify for the thesis option, students will normally have completed 100 semester hours of course work ( exceptions may be made by the honors coordinator of the student's major department) and must have at least the grade point average (3.6) required for High Honors at the time they enroll. GRADUATE COURSES For admission to graduate courses, the student must have been admitted to the Graduate School and nor- mally should have had undergraduate courses in fields pertinent to the graduate course selected; or, where necessary, special arrangements may be made with the approval of the department chairperson. Please refer to the Graduate Catalog for graduate course listings. INSTRUCTIONAL STAFF 1992-93 Kenny, L.W., Chair; Adams, J.D.; Arroyo, C.R.; Blair, R.D.; Bomberger, W.A.; Cheng, L.K.; Costello, D.M.; Denslow, D.A.; Dinopoulos, E.; Donald, S.; Frazer, W.J.; Goddard, F.O.; Hamilton, J.H.; Horowitz, N.R.; Langham, M.R.; Lanzillotti, R.E.; Lewis T.R.; Lockhart, M.; Maddala, G.S.; Romano, R.E.; Rush, M.; Sappington, D.E.M.; Slutsky, S.M.; Smith, S.K.; Theil, H.; Toda, Y.; Vernon, J.R.; Waldo, D.G.; West, C.A.; Woodruff, W.; Zabel, E. Economics offers majors through both the College of Liberal Arts and Sciences and the College of Business Administration. Potential Economics majors should see an Economics adviser prior to entering upper division. Areas of concentration within the major include Asian Studies, Business Economics, General Economics, International Economics, Latin American Economics, Pre-Law, Pre-Med, Public Service, Quantitative Methods in Economics and Business (including Computer Sciences), Urban Economics, and Secondary School Teaching (Certification in the Social Sciences). Students majoring in Economics must complete a calculus course as part of their preprofessional requirements (check the General Education require- ments for your major), STA 3023 and at least 26 hours of Economics work. Majors are required to include in their Economics work ECO 2013, ECO 2023, ECO 3101, ECO 3203, QMB 3205 and twelve hours of Economic courses that require ECO 2013 or ECO 2023 as prerequisites. Students in the College of Liberal Arts and Sciences must attain a grade of "C" or higher in ALL required economics courses. The department awards Honors in Economics to Liberal Arts and Science students who have a 3.3 GPA in all economics work including QMB 3205, a 3.5 over- all upper-division GPA and complete a 3-hour honors program. The honors program involves a research project and paper and enrollment in either ECO 4935 3 hours) or in ECO 4905 (3 hours). Students enrolled in ECO 4935 must earn a grade of B or better to be considered for honors. Students electing to take ECO 4935 must have their project evaluated by three facul- ty members. To graduate with high honors, students must fulfill the requirements for honors, must have the faculty member supervising their honors project nominate the paper for high honors and must have the nomination approved by the Economic Department's undergraduate committee. For highest honors, students must satisfy the requirements to graduate with high honors, must earn a 3.5 GPA in all economics work and earn a 3.7 overall upper-division GPA. Business students should see the appropriate information within the section for the College of Business Administration. Students should carefully note course prerequi- sites as they are strictly enforced. A current/revised listing of course prerequisites is available each term in Undergraduate Programs office located in room 201 of the New Business Building. Students in the College of Business Administration must complete, or be in the process of completing, all 3000-level upper division core courses before registering for 4000-level major courses. See the appropriate sections for the College of Liberal Arts and Sciences and the College of Business Administration for further details. ECO 2013 Principles of Macroeconomics. F, S, SS. Credits: 3 The nature of economics, economic concepts and insti- tutions; emphasis on the accounting, analytical, and policy aspects of national income and product, as well as public finance, money and banking, and interna- tional trade. (S) ECO 2023 Principles of Microeconomics. F, S, SS. Credits: 3 Theories of production, determination of prices and distribution of income in regulated and unregulated industries. Attention is also given to industrial rela- tions, monopolies, and comparative economic systems. (S) ECO 3100 Managerial Economics. F, S, SS. Credits: 3; Prereq: ECO 2023 and MAC 3233. Not for CIS, DIS, Economics, Finance, Insurance, and Real Estate majors. Students may not receive credit for both ECO 3100 and ECO 3101. -Analysis of the firm's decisions regarding prices, out- puts and inputs, advertising, etc. under various mar- ket conditions. Reliance is placed upon both theories and applications. ECO 3101 Intermediate Microeconomics. F, S, SS. Credits: 4; Prereq: ECO 2023 and MAC 3233. Students may not recieve credit for both ECO 3100 and ECO 3101. Primarily designed for majors in CIS, DIS, Economics, Finance, Insurance and Real Estate. Nature, scope, and purpose of economic analysis. Examines the theory of consumer behavior, produc- tion, costs, firm behavior, and the allocation of resources. ECO 3202 National Income Determinants and Policy. F,S,SS. Credits: 3; Prereq: ECO 2013, ECO 2023 and MAC 3233. Not for Economics, Finance, Insurance and Real Estate majors. Students may not receive credit for both ECO 3202 and ECO 3203. An open economy; national economic and other goals; the determination of income, employment, interest rates, money and credit aggegates, and prices. Attention is given to the relevant economic policies, forecasting, and formation of expectations. ECO 3203 Intermediate Macroeconomics. F, S, SS. Credits: 4; Prereq: ECO 2013, ECO 2023 and MAC 3233. Students may not receive credit for both ECO 3202 and ECO 3203. Primarily designed for majors in Economics, Finance, Insurance, and Real Estate. Theoretical determinants of aggregate employment, income, expenditures and the price level. Keynesian and neoclassical models are analyzed. ECO 3530 Public Choice Credits: 3; Prereq: ECO 2023 Role of voters, special interest, legislators & the bureaucracy in determining government expenditure, taxation and other economic policies. Economic mod- els of voting and the structure of government. ECO 3700 International Economic Relations. F,S. Credits: 3 Prereq: ECO 2013 or permission of instruc- tor. Students may not receive credit for both ECO 3700 and ECO 3703 or ECO 3700 and ECO 3704, but can receive credit for both ECO 3703 and ECO 3704. The development of international economic policies; geographic, economic, social and political factors underlying contemporary international problems; eco- nomic and political methods employed by the leading commercial nations. (I) ECO 3703 International Trade. F, S. Credits: 3; Prereq: ECO 2013 and ECO 2023 or permis- sion of instructor. Students may not receive credit for both ECO 3700 and ECO 3703 or ECO 3700 and ECO 3704, but can receive credit for both ECO 3703 and ECO 3704. Theory of international trade and commercial policy. Current issues in international trade, comparative advantage, scale economics, the economics of tariff and non-tariff barriers. International factor movements and multinational firms. Political economy of trade restric- tions, strategic trade policy and trade negotiations. ECO 3704 International Macroeconomics. Credits:3; Prereq: ECO 2013 and ECO 2023 or permis- sion of instructor. Students may not receive credit for both ECO 3700 and ECO 3703 or ECO 3700 and ECO 3704, but can receive credit for both ECO 3703 and ECO 3704. Macroeconomic theory of an open economy. Current monetary issues of the world economy. The interna- tional monetary system, exchange rate determination, balance of payments adjustment mechanism, interna- tional financial institutions and their policies. Macroeconomic policies and national income determi- nation in an open economy. ECO 4213 Monetary Economics. F,S. Credits: 4; Prereq: ECO 3100 or ECO 3101 and ECO 3203, or ECO 3202. Students may not receive credit for both ECO 3202 and ECO 4213. Integration of money and general economics; an open economy; national economic and other goals; the determination of income, employment, interest rates, money and credit aggregates, and prices. Attention is given to the relevant economic policies, forecasting, the formation of expectations, financial markets, and institutions, plus changes with respect to episodes, the short and long runs, cycles and trends, long swings in economic conditions, and feedbacks. ECO 4431 Forecasting of Business Fluctuations. F,S. Credits: 3; Prereq: ECO 2013, QMB 3250 or STA 4033; Coreq: ECO 2023 Economic analysis, statistical analysis, and forecasting of the time series behavior of important variables in the business cycle, such as the rate of inflation, interest rates, saving, employment, wage rates, and national income; and of important sectors such as housing and durables. Includes work with actual data. ECO 4504 Public Finance. F,S. Credits: 3; Prereq: ECO 3100 or ECO 3101 or permis- sion of instructor. The study of the role of the government in a market economy, the effects of government expenditures, and who pays the different taxes. Emphasis is placed on current tax and expenditure issues. tt Grading is on S-U basis only.