North Central College - Naperville, IL

Economics Courses

NOTE: This page contains all of the regular course descriptions for this discipline or program. Academic credit for each course is noted in parenthesis after the course title. Prerequisites (if any) and the general education requirements, both Core and All-College Requirements (ACRs), which each course fulfills (if any) are noted following each course description. Not all courses are offered every year. Check Merlin, our searchable course schedule, to see which courses are being offered in upcoming terms.

ECN 100 Economics of Social Issues (3.00)
This course surveys the basic principles of economic theory with a special emphasis on applications of economics to practical problems. Use of supply and demand analysis enables the student to better understand how the market system works. Included among other issues to be covered are inflation, unemployment, pollution, heath care, international trade, and income distribution. May not take ECN 100 after ECN 250 or 252. Core: Social Science.

ECN 210 History of Economic Thought (3.00)
An examination of economic thought with major concentration on the selected writings of economists from the mercantilists through the early 20th century, such as Smith, Ricardo, Malthus, Marx, Veblen, Keynes, and Schumpeter. Core: Humanities.

ECN 241 Business and Economics Statistics (3.00)
This course is designed to provide students with the ability to apply and interpret descriptive and inferential procedures, probability distributions, statistical sampling and design, hypothesis testing, and regression. Primary objectives are to improve the statistical capabilities of students as well as their abilities to apply statistical concepts in a business setting. Students may not receive credit for both ECN 241 and PSY 250. Same as: BUS 241. Prerequisites: MTH 121 or higher; IFS 104 highly recommended. Core: Mathematics.

ECN 250 Microeconomic Principles (3.00)
Introduction to the theory of consumer choice, social and individual welfare, the behavior of business firms under pure competition and monopoly, and applied microeconomic topics. Prerequisite: MTH 121 or higher or appropriate placement. Core: Social Science.

ECN 252 Macroeconomic Principles (3.00)
Introduction to macroeconomic theory, with emphasis on factors which explain changes in national income, unemployment, and inflation. Other topics include money and banking, and fiscal and monetary policies. Prerequisite: MTH 121 or higher or appropriate placement; ECN 250 recommended. Core: Social Science.

ECN 290 Special Topics: Contemporary Issues in Economics (1.00-3.00)
Topics vary depending on student interest and faculty expertise. Topics and prerequisites are announced in advance and placed in the course schedule. May be taken more than once with different content. Prerequisites: ECN 250, ECN 252; or ECN 100.

ECN 297 Internship (0.00-9.00)
Instructor consent required.

ECN 299 Independent Study (1.00-9.00)
Instructor consent required.

ECN 310 Economics of Sports (3.00)
This course will analyze and explains the industry of sports from an economics perspective. Topics covered will include league competitiveness and collusion, what factors determine franchise profitability and market value, and how central are these issues to owner's decision making, revenue-sharing, player compensation, salary caps, free agency, antitrust issues surrounding both professional and collegiate athletics, as well as the economics of sports stadiums and arenas. Prerequisite: ECN 250 or ECN 100.

ECN 320 Industrial Structure and Public Policy (3.00)
An application of microeconomics which involves analysis of the structure, conduct, and performance of firms within industries. The empirical evidence and economic theory relating to pricing practices and policies under various market structures is also examined. Special emphasis is placed on the theory and precedents in U.S. anti-trust policy and the problems associated with the regulation of industry. Prerequisite: ECN 100 or ECN 250.

ECN 324 International Political Economy (3.00)
Analyses of the problems and prospects challenging the global community at a time of political and economic change through the study of the roles of industrialized countries, former socialist bloc states, and the Third World. Attention is given to the interplay of political and economic power as components of planetary well-being. Same as: PSC 324. Prerequisites: ECN 250, ECN 252; or ECN 100. ACR: Intercultural.

ECN 330 Labor Economics (3.00)
The economic theory and policy pertaining to the market for labor. Stress on how the market determines employment and income and how human resources contribute to individual and national economic welfare. Prerequisites: ECN 250, ECN 252; or ECN 100.

ECN 340 International Economics (3.00)
The theory of international trade and the behavior of international institutions. Examination of how trade, trade restrictions, and international monetary systems affect domestic business and economic prospects. Prerequisites: ECN 250, ECN 252; or ECN 100.

ECN 350 Public Finance and Social Welfare (3.00)
An examination of the economic role of the public sector in the United States with an emphasis on theory and policy analysis of the effects of government spending and taxation. Topics include the role of government intervention in the market, the tax system, income redistribution programs, social security, and deficit financing, among other current policy issues. Prerequisites: ECN 250, ECN 252; or ECN 100.

ECN 360 Money and Banking (3.00)
An examination of the function of money, credit, and financial institutions in the U.S. economy, and an analysis of Federal Reserve policy and its impact on the macroeconomy. Prerequisites: ECN 250, ECN 252; or ECN 100.

ECN 370 Economic Growth and Development (3.00)
This course will analyze and explain various reasons why some countries are rich and some countries poor. Topics covered will include comparative economic development, poverty and inequality, economic growth theory, factor accumulation, technology, the role of the government and NGO's, culture, geography, and institutions, among others. We will discuss how these factors are related and contribute to the overall success of failure of a country's attempt to develop and grow its economy. Prerequisite: ECN 100, ECN 250 or ECN 252.

ECN 390 Special Topics: Contemporary Issues in Economics (1.00-3.00)
Topics vary depending on student interest and faculty expertise. Topics and prerequisites are announced in advance and placed in the course schedule. May be taken more than once with different content. Prerequisites: ECN 250, ECN 252; or ECN 100.

ECN 397 Internship (0.00-9.00)
Instructor consent required.

ECN 399 Independent Study (1.00-9.00)
Instructor consent required.

ECN 423 Intermediate Microeconomics (3.00)
An economic analysis of consumers, firms, and markets. Consumer theory includes indifference curve analysis with selected applications related to a wide range of consumer behavior. The costs and revenue decisions of the firm are analyzed within the context of standard assumptions about economic behavior. Prerequisite: ECN 250.

ECN 427 Intermediate Macroeconomics (3.00)
An analysis of income, consumption, investment, interest, and money in their relationships to the national economy, equilibrium, and level of employment and prices. Prerequisites: ECN 250, ECN 252.

ECN 440 Mathematical Economics (3.00)
This course focuses on the application of mathematics to the theoretical aspects of economic analysis. Topics may include equilibrium analysis, comparative statics, optimization problems, and dynamic analysis. Prerequisites: ECN 250, ECN 252; MTH 141 or MTH 151.

ECN 445 Econometrics (3.00)
This course provides exposure to the estimation and testing of economic models using statistical methods and appropriate empirical data. Emphasis is placed on model construction and the use of multiple linear regression for interpretation, analysis, and forecasting. Prerequisites: ECN 250; ECN 252; ECN 241 or MTH 341 and MTH 342.

ECN 497 Internship (0.00-9.00)
Instructor consent required.

ECN 499 Independent Study (1.00-9.00)
Instructor consent required.