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Advanced Macroeconomics

COURSE OVERVIEW

Macroeconomists study the structure of national economies, the performance of these economies over time, and the role played by governments in the determination of this performance. The current economic crisis is the greatest challenge faced by macroeconomists and financial economists since the Great Depression. Most failed to see the crisis coming. The key issue is why, and what this portends for the future practice of macroeconomics. This course will take a careful critical look at macroeconomic theorizing over the past forty years. From Keynes’ General Theory (1936) through the early 1970s, macroeconomic models primarily consisted of highly aggregated relationships for consumption, investment, and other key economic activities using some version of the IS-LM framework. Since the early 1970s, however, macroeconomic theorists have developed a variety of models based more explicitly on microeconomic foundations, rational individual choice under uncertainty, and intertemporal optimization. The micro-based models currently being used by macroeconomic theorists can roughly be divided into three basic forms:

  1. Dynamic stochastic general equilibrium (DSGE) models that typically incorporate: (i) infinitely-lived representative consumers who maximize their expected intertemporal lifetime utility subject to individual budget constraints, technology constraints, and aggregate resource constraints; (ii) a central bank that sets interest rates in accordance with a monetary policy rule; (iii) monopolistically competitive firms; and (iv) sticky prices. The models are typically solved locally by taking first-order Taylor approximations of rational expectations equilibrium conditions around a non-stochastic steady-state growth path, and the responses of the endogenous variable solutions to small perturbations in exogenous variables (including shock terms) are then studied.
  2. N-period lived overlapping generations models that incorporate successive overlapping generations of mortal (N-period lived) agents. Typically agents are assumed to exhibit rational expectations and price-taking behaviors, the population growth rate is assumed to be constant, and prices are assumed to flexibly adjust to ensure continual market clearing (demand=supply).
  3. Agent-based macroeconomic models in which trade networks, prices, employment rates, growth rates, and other macroeconomic regularities arise over time from the repeated distributed interactions of heterogeneous microeconomic agents with adaptation and learning capabilities.

Following a background review of aggregate macroeconomic modeling, this course will critically compare and contrast these alternative approaches to micro-based macroeconomic modeling for logical coherence, tractability, empirical relevance, and policy implications. Particular attention will be paid to three important modeling features in relation to recent economic events: microfoundations modeling of economic growth; expectations modeling; and the modeling of market coordination mechanisms.

Learning Objectives:

  • Analyse and interpret situations and problems rationally and systematically, recognising relevant information in the process of solving problems. Make predictions about possible consequences using macroeconomic data and information to support the outcomes.
  • Analyse and interpret different types of economic and financial data to extract useful information for optimal decision-making and make predictions about possible consequences. Interpret and use the language and terminology of economics.
  • Analyse problems and identify possible alternative outcomes depending on assumptions made. Imagine the implications of decisions and actions. Analyse and evaluate different economic situations and government policy initiatives and provide alternatives consequences.
  • Analyse economic events with a view to stimulate curiosity in the global economic, political and financial systems. Analyse economic commentaries with the understanding that many outcomes are coloured by individual adherence to particular schools of thought.
  • Recognise that often there is more than one solution to a problem and that the solutions are likely to be based on different sets of assumptions. Interpret the work of others and be able to evaluate and respond to it.
  • Ability to work effectively as an independent learner. Ability to communicate information and knowledge effectively.

The Learning Outcomes of this course include:

  • Use appropriate macroeconomic tools to model the market and determine possible outcomes of changing economic behaviour and aid in the development and analysis of policy.
  • Make decisions and reach rational conclusions in a systematic and rational manner within an environment of constraints.
  • Calculate, analyse and interpret different types of economic and financial data to extract useful information for optimal decision-making.
  • Interpret and use the language and terminology of economics.
  • Use the various models, mathematics and graphical functional forms to prove and test decisions/outcomes.
  • Analyse problems and identify possible alternative outcomes depending on assumptions made.
  • Imagine the implications of decisions and actions based on alternative schools of thought.
  • Provide policy alternatives to address various economic outcomes.
  • Analyse actual economic events within modelling frameworks.
  • Appreciate that economic theory evolves out of actual economic events.
  • Interpret the work of others and be able to evaluate and respond to it.
  • Determine the effectiveness and appropriateness of government policy intervention.

Overview of Learning Activities

Learning Activities:

  • Develop and analyse the major models both graphically and in some cases mathematically.
  • Apply appropriate models to analyse changes in the various determinants and changes in economic events.
  • Analyse and develop policy responses to various occurrences in the economy.
  • Determine economic behaviour and relationships.
  • Identify and analyse the requirements for rational and objective decision-making.
  • Derive and discuss the development of macroeconomic models, both graphically and mathematically.
  • Examine how major economic data is compiled identifying complications and problems.
  • Identify the ‘language’ of economics to correctly communicate events and outcomes.
  • Undertake scenario analysis using various economic models under various assumptions.
  • Compare and contrast between different schools of thought and analyse the consequences.
  • Examine the links between markets, across sectors and economies.
  • Apply modelling skills to real life situations.
  • Analyse and discuss real economic events in terms of real and projected outcomes.
  • Model and analyse the impact of various government policy alternatives.

The learning objectives of all topics in Macroeconomics build upon each other, reflecting the interwoven nature of the entire domestic economy. Basic economic theories are presented in each module. These theories are then applied to the real economy through the problem sets.

African Politics

If you pick up almost any newspaper looking for information about Africa, you will likely encounter stories about the HIV/AIDS epidemic in Malawi, riots in Tunisia, famine in Ethiopia, or environmental disaster in the Niger Delta—problems that journalists often link to dysfunctional government. Based on such accounts, you might consider Africa to be a pretty bleak place! However, these events highlight only one side of politics in Sub-Saharan Africa. While some African countries face great struggles, others offer great hope. This course provides an overview of African politics in historical context, synthesizing material from traditional comparative politics and area studies courses that examine democratization, economic development, and identity politics. This course also examines Africa’s position in a broader international framework by addressing conflict, political economy, and the processes of state division and integration. Seven units organize this course. We have organized the beginning of this course (Units 1 and 2) historically with Unit 1 focusing on colonization. Unit 2 reviews political development patterns in the post-colonial age, including the upheavals that led to an epidemic of weak and failed states. Subsequent units take a more focused look at various dimensions of African society, politics, economics, and international relations. The course concludes with an exploration of continent-wide challenges and the potential for an “African Renaissance.”

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Explain how colonialism and independence movements contributed to and shaped contemporary African statehood.
  • Identify the main causes and manifestations of state weakness in Africa.
  • Define underdevelopment and explain its causes in Africa.
  • Discuss the causes of civil conflict in Africa.
  • Apply knowledge of Africa’s history to explain current causes of crisis and the roles of different actors within the state and international communities.
  • Compare and contrast economically and politically successful states with those that are less successful, and identify the causes of this variation.
  • Identify and explain some of the major social, cultural, and economic challenges (such as HIV/AIDS) that contemporary African states face, as well as the role international actors play in addressing these challenges.

Business Information Systems

COURSE DESCRIPTION

This course introduces undergraduate business students to information systems (IS). The course includes important topics related to IS, such as the drivers of IS, database concepts, IS development, and the types of systems used in organizations.

COURSE OUTCOMES

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

  • Analyze the purpose, components, and issues related to common business information systems
  • Analyze the impact of business processes and information systems on an organization
  • Explain the factors that influence how an organization selects information systems
  • Describe how databases are used in business
  • Compare different methodologies for information systems development
  • Evaluate various functional systems
  • Explain fundamental communication and networking concepts
  • Explain how the Internet impacts the way organizations use information systems
  • Evaluate the information system needed to support e-commerce
  • Analyze the roles and responsibilities associated with information systems management
  • Explain how businesses manage ethical considerations with respect to information systems
  • Describe how an organization can protect against various information system threats

Business Law and Ethics

Law, in its simplest form, is used to protect one party from another. For instance, laws protect customers from being exploited by companies. Laws protect companies from other companies. Laws even protect citizens and corporations from the government. However, law is neither perfect nor all encompassing. Sometimes, societal ethics fill the voids that laws leave behind; other times, usually when societal ethics have been systematically violated by a group of the population, we write laws that are designed to require individuals to live up to certain ethical standards. In the backlash of the Enron scandal (where Enron executives used accounting tricks to hide losses) for example, new accounting laws were passed. Similarly, as a result of the financial crisis of 2008, legislators proposed new regulations designed to enforce a certain standard of ethical behavior within the financial services industry. This course will introduce you to the laws and ethical standards that managers must abide by in the course of conducting business. Laws and ethics almost always shape a company’s decision-making process: a bank cannot charge any interest rate it wants to charge – that rate must be appropriate. Car manufacturers must install hardware and develop new technologies to keep up with regulations designed to reduce pollution. By the end of this course, you will have a clear understanding of the legal and ethical environment in which businesses operate.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • identify sources of law in the United States;
  • describe the function and role of courts in the US legal system;
  • differentiate litigation from methods of alternative dispute resolution, and discuss the process of each;
  • list the elements of the major torts;
  • list the essential elements of a valid contract;
  • describe how a contract can fail;
  • summarize the remedies available for breach of contract;
  • distinguish between real and personal property;
  • identify the various interests in real property and how they pass;
  • identify the requirements to hold various rights under intellectual property laws;
  • analyze the impact of the digital era on intellectual property rights;
  • distinguish between at-will employment and contractual employment;
  • identify laws that generally regulate the employer-employee relationship;
  • identify criminal acts related to the business world;
  • define and identify examples of white collar crime;
  • describe the various forms of business organization;
  • identify the major laws regulating business in the United States;
  • identify major ethical concerns in business today;
  • distinguish between Aristotle’s ethical theory, utilitarianism, and Kant’s ethical theory;
  • distinguish Aristotle and Kant’s ethical theories, and utilitarianism, from cultural relativism and nihilism; and
  • analyze case studies that illustrate ethical dilemmas in business ethics.

Comparative Economic Systems

ECON 460 examines the major economic systems of the world, in both theory and practice. The approach will generally focus on encouraging a general understanding of how economic systems work and how economic theory interacts with government policy, history, and culture to explain economic performance. Economies examined in some detail will include several advanced market capitalist countries (e.g., the U.S., Japan, France, Sweden, and Germany), the former socialist economies (e.g, the former Soviet Union, Poland, and China), and other East Asian economies (e.g., South Korea and North Korea). We will also consider Iran as an example of an Islamic-based economy, and India as an example of an isolationist country that is now beginning to join the global economy.

Prior study in economics (ECON 390/391, ECON 101 and 102) is required, but this course will be less mathematical than other theory courses. It will, however, require you to become familiar with available data on economic performance.

Course Objectives:

Comparative Economics studies the origin, problems and performance of various economic systems. Economic systems are the product of and are continuously influenced by ideological, cultural, historical, and geographical factors. Understanding cultural background, historical events, socio-economic and ideological theories, and the natural environment that have influenced the origin and performance of various economic systems will, therefore, be the main focus of this course. General economic systems including capitalism, socialism, and mixed economy practiced in different countries of the world will be discussed, but particular attention will be paid to the most important and representative economies of the world including those of the United States, Japan, Latin America, China, and Sweden.

Course Outlines

Week 1: Classification and performance of economic systems (chapter 1)

Week 2: Comparative economic statistics ( chapter 2)

Week 3. History and theories of Capitalism (chapter 3)

Week 4. History and theories of Socialism (chapter 4)

Week 5. Economics of the developing world (chapter 5)

Week 6. The economy of the United States (chapter 7)

Week 7. The economy of Japan (chapter 19)

Week 8. Review and Midterm

Week 9. The economies of Latin America (chapter 8)

Week 10. The economy of Sweden (chapter 13)

Week 11. The economy of China (chapter 20)

Week 12. Africa: The Challenge of Development (chapter 21)

Econometrics

This course is designed to provide you with a simple and straightforward introduction to econometrics. Econometrics is an application of statistical procedures to the testing of hypotheses about economic relationships and to the estimation of parameters. Regression analysis is the primary procedure commonly used by researchers and managers whether their employments are within the goods or the resources market and/or within the agriculture, the manufacturing, the services, or the information sectors of an economy.

Completion of this course in econometrics will help you progress from a student of economics to a practitioner of economics. By completing this course, you will gain an overview of econometrics, develop your ability to think like an economist, hone your skills building and testing models of consumer and producer behavior, and synthesize the results you find through analyses of data pertaining to market-based economic systems. In essence, professional economists conduct studies that combine and project their expertise both in statistical procedures and analysis and in economic concepts and relationships.

There are two major benefits to a study of econometrics: one is that it facilitates communication between econometricians and users of their work; the other is that it helps individuals to develop perspectives on econometric work and to make a critical evaluation of the work. Experience with econometrics and knowledge of the potential problems are essential for developing judgments about a study. For example, you could find yourself assessing studies that conclude the price of a gallon of gasoline has little influence on how much of it a driver purchases and findings that affirm the cost of producing a gallon of gasoline has little bearing on the current price of a gallon of gasoline you are pumping into your vehicle.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

· Construct, test, and analyze econometric models, using variables and relationships commonly found in studies of economic theory.

· Collect, organize, and analyze economic data, and interpret results from statistical analyses.

· Identify the desirable properties of estimators.

· Identify key classical assumptions in the field of econometrics, explain their significance, and describe the effects that violations of the classical assumptions can have.

· Use the least squares method in evaluating the relationship of one explanatory variable to the dependent variable and the relationships of multiple explanatory variables to the dependent variable.

· Interpret key statistics and diagnostics typically generated by software.

Development Economics

This course introduces major theories of economic development and to place them in a historical context. In his contributory introduction “Economic Growth, Economic Development and Human Development” in The Development Economics Reader (2008), edited by Giorgio Secondi and published by Routledge, Secondi defines economic development as the “branch of economics that studies relatively poor countries.” In the same book, Mahbub ul Haq, writing under the title “The Human Development Paradigm,” suggests that the “basic purpose of development is to enlarge people’s choices,” which is in line with the views expressed by the Nobel laureate Amartya Sen. Whether development is simply studying poor countries or expanding people’s choices in poor countries, one of the essential requirements is that there must be a means for making the choices available. This means that economic development must include growth, but growth can take place without economic development. Without economic growth, the choices cannot be expanded. At the same time, however, economic growth can take place and people’s choices can still be limited. Therefore, economic development requires economic growth, but the inverse is not required. Indeed, Pearce defines economic development as “the process of improving the standards of living and well-being of the population of developing countries by raising per capita income” (1992). In essence, theories of economic development attempt to explain the process that less developed countries (LDCs) go through to become developed countries (DCs). Further, because economic development is more than economic growth and involves changes in all aspects of the society, both social and political, the discipline tends to be interdisciplinary, drawing from other social sciences such as sociology and geography. In this course, in addition to discussing the theories of development, we will also try to explain how the theories are applied and how successful they have been in explaining the development patterns of various countries. The oft cited example of Ghana and Malaysia might be instructive at this point. Both countries gained independence from the British in 1957 (Ghana a few months earlier in March and Malaysia in August). At the time, both countries were roughly at the same level of development. If you fast forward to the 2000s, Malaysia’s per capita GDP is five times that of Ghana’s per capita GDP; it is $16,200 in Malaysia and $3,100 in Ghana. The literacy rate in Malaysia is 88.7% and 67.3% in Ghana. Malaysia has 11 times more physicians per 1,000 people than Ghana, and life expectancy is 74.04 in Malaysia but 61.45 in Ghana. There are many questions which the development economist wants the answers to, but mainly this boils down to: What accounts for the vast differences in the many measures of human development indices? We study economic development to learn from the Malaysians so that we can offer useful advice to the Ghanaians. The units in this course are stacked as building blocks; each successive unit depends on a thorough understanding of the previous unit. The course begins with some of the stylized facts of the countries classified as developing countries. You will find that they are not all alike. Some countries, such as the oil rich ones, may have a very high per capita GDP. You will learn the definitions of major terms and concepts. The sections that follow the introductory unit outline the major theories of economic development, tracing their development throughout history as the dialogue on development economics has progressed. Finally, the course will present a number of development successes and failures and will prompt you to draw your own conclusions on the validity of certain theories based on case studies.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • define economic development and its components;
  • describe major theories of economic development;
  • explain and apply some basic economic models related to economic development and economic growth, including the Solow Growth model and its extensions;
  • identify and discuss economic development theories in the social and political context in which they were created; and
  • critically examine economic development theories in light of a history of poor performance in development programs.

Economic Planning

Planning is defined as conceiving, initiating, regulating and controlling economic activity by the state according to set priorities with a view to achieving well-defined objectives within a given time.

Course Description

In this course we engage methods used by economic development planners to understand local and regional economies and identify directions for planning action. Students learn to use the methods, understand and critique reports that use the methods, and assess the problems of a local economy. The goal is to be both rigorous and critical users of methods against the larger context of a changing and uncertain economic landscape in recent years: massive unemployment and dislocation, the restructuring of local and regional economies, accelerated technological change, shifting labor migration patterns, growing economic internationalization, the decline of manufacturing employment, the blurring of public and private planning, the inverted city-suburb-edge city relationships, and the conflicts between economic, social and ecological interests.

Learning Outcomes

Critically evaluate and apply economic theories in relation to the challenges and problems of local economic development and related planning issues;

Critically evaluate trends, data and economic indicators relating to local economic development and planning issues in the context of national and global influences.

Critically evaluate contemporary policy making and the role of planning in relation to local economic development.

History and Philosophy of Science

This course is a survey of philosophical issues surrounding the concepts and practices of modern science. The course covers the major areas of contemporary philosophy of science, including scientific reasoning, scientific progress, interpretations of scientific knowledge, and the social organization of scientific practice. Its aim is not only to familiarize you with philosophical issues about science but also to equip you to critically interpret popular reports about contemporary scientific research. Lesson 1 introduces philosophy of science as a discipline distinct from psychology of science, history of science, and sociology of science. Lesson 2 examines the nature and objectivity of observational evidence, and Lesson 3 examines methods of reasoning relevant to induction, confirmation, and explanation. Lesson 4 examines accounts of theory change and scientific progress, and Lesson 5 addresses the interpretation of scientific knowledge. Finally, Lesson 6 explores various topics concerning science in a social context. Throughout this course, you will become acquainted with the views of a number of influential philosophers of science, including David Hume, Pierre Duhem, Carl Hempel, Karl Popper, Thomas Kuhn, Imre Lakatos, Bas van Fraassen, Philip Kitcher, and Helen Longino. You will read some selections from scientific research too, by way of news articles and case studies, in order to connect philosophical views about science to actual scientific practice. You should approach the content of this course with an attitude that is neither hostile toward nor naïve about science, but is instead critically engaged in trying to understand science as a human activity.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • identify some questions and tasks that are appropriate to philosophy of science;
  • identify the ways in which observation is theory-laden;
  • explain and illustrate some key processes of scientific reasoning;
  • compare different accounts of theory change and scientific progress;
  • compare different interpretations of scientific knowledge;
  • summarize different accounts of the social dimensions of science, including theses about the social organization of scientific research, the presence and effects of gender biases, the authority and objectivity of scientific knowledge, and the relation between science and politics;
  • assess a variety of philosophical views about scientific practice and scientific knowledge, including views about theory-ladenness and the objectivity of observation, scientific reasoning, theory change and scientific progress, and interpretations of scientific knowledge; and
  • interpret contemporary scientific research (as published, for example, in Scientific American, Science, or Nature) using philosophical concepts and accounts of science.

History of Africa to 1890

This course will introduce you to the history of Africa from 300,000 BCE to the era of European imperialism in the nineteenth century. You will learn about the major political, economic, and social changes that took place in Africa during this period and examine the experiences of Africans who lived during this period. You will also explore the relationships between Africans and people living in other regions of the world. The course will be structured chronologically except for units 3 and 4, which will divide the continent geographically while covering the classical period of African history. Each unit will include representative documents and other resources that illustrate important overarching political, economic, and social themes. By the end of the course, you will understand how Africans transformed their continent beginning with human evolution and concluding with the era of global capitalism. The story then continues in HIST 252, which covers the last 120 years of African history.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Locate major regions, geographic features, and populations in Africa and label them on a map.
  • Identify major events and trends in the history of Africa prior to 1890 that describe change over time.
  • Demonstrate the impact of the African environment on human history in Africa and explain how humans in turn changed that environment.
  • Compare and contrast the diverse social and political structures and systems devised by Africans.
  • Summarize the connections between Africans and other peoples of the world and the ways in which those connections changed over time.
  • Demonstrate the usefulness, best practices, and limitations of different types of sources for understanding the African past.
  • Appraise various conceptions of the African past given the evidence from that past.
  • Assess the degree to which there can be said to be one, shared African history before 1890.

History of Economic Thought

As a student of economics, you must study the history of economic thought to understand why individuals, firms, and governments make certain choices. Economists try to answer three basic questions: what to produce, how to produce it, and for whom. The history of economic thought represents a wide diversity of theories within the discipline, but all economists address these three basic questions. As you learn more about the history of economic thought, you may realize that policies presented as great innovations today are founded upon centuries-old writings. You will learn that without a clear sense of the discussions and debates that took place among economists of the past, the modern economist lacks a complete perspective. By examining the history of economic thought, you will be able to categorize and classify thoughts and ideas and will begin to understand how to think like an economist. Economics is both a social science and a business subject; accordingly, economic thinking affects everything from art to philosophy to the wider global culture. In turn, society and trends influence the development of economic thought. Note that many of the assigned readings in this course are primary source materials written by the economic theorists themselves. As you study the readings, reflect on the authors’ motivations and consider the events of the era. The readings in this class represent many different perspectives, and no single approach is favored.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • explain and analyze the development of economics as a discipline in various ancient cultures;
  • trace the development of European economic thought, and analyze concepts in historical context;
  • compare and contrast as well as discuss classical economic theories; and
  • synthesize the elements of neoclassical and Keynesian approaches in the modern era.

Human Resource Management

Firms maintain their competitive advantages by holding on to resources their competitors cannot obtain. What do we mean by “resources?” The term “resources” can refer to anything from rights to a certain oil field, the patent on touchscreen technology, or an exclusive contract with the government. More often than not, however, a company’s most valuable resources are its employees. Often, having the “right” employees – the individuals capable of developing iPhones or finding new oil fields – separates the highly successful firms from their less successful competitors. As you begin the journey of this course, you might be saying to yourself, “My company may say I am its most valuable resource, but it really do not treat me like I am valued.” This feeling is one of many elements associated with managing human capital. In the Lessoned States, the subfield of Human Resource Management (alternatively known as Human Capital Management) has a history that dates back almost a century, but the most strategic components of this course emerged as a result of transitions in the workforce in the late 1960s. After the passing of Title VII of the Civil Rights Act of 1964, all organizations were mandated by the Federal Government to adhere to specific laws, which governed how an organization should respond to and treat their human capital. The transition of women and minorities into the workplace and their resulting contributions to business success incentivized organizations to develop a better understanding of how to integrate all employees into a culture that would reinforce and support the vision and mission of a business. Human Resource Management refers to the practice of strategically allocating the most valuable resources – people – to the right areas of a firm. This practice involves careful strategizing, good leadership, and other solid business practices. Human Resource Management requires more than a strong human resources department; it requires smart, capable team managers working in conjunction with an HR department to carry out common goals. The key to understanding and applying the concepts of this course revolves around learning how to become uncomfortable. What exactly does that mean? Every one of us has a core belief system shaped by our individual experiences, situations, and circumstances. This belief system informs and guides our perceptions (i.e. what we believe is or is not valid/applicable to the situation or circumstance with which we are dealing). We naturally gravitate towards those things with which we have some understanding, and we have an intrinsic bias against those things that do not make sense to us, that we perceive as unethical, or that make us uncomfortable. To effectively manage human capital, you have to learn how to step outside of your comfort zone and make strategic decisions in the best interest of the company, rather than those that make you “comfortable.” You know the basics of managing human capital from your Principles of Management course), but this course will introduce you to more advanced topics in the field. You will learn that identifying the best employees begins with identifying the firm’s needs and carrying out a proper recruitment and selection process. Training, development, and performance evaluations can then shape the selected employee into an ideal firm resource. Finally, adequate and incentivizing compensation can keep those resources with the firm. This course will cover all these topics and more. Though you may not be planning to pursue a career in human resource management, much of your career success will depend upon working with the right people. This course will help you appreciate and leverage this fact.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Describe how to effectively manage human capital and properly assess knowledge, skills, and abilities to find valuable resources (people).
  • Identify key laws and legislation that shape how human capital decisions should be made.
  • Explain why managing human capital is relevant for all managers in any organization.
  • Define and conduct a job analysis and discuss the validity of an analysis in support of other key human capital functions.
  • Understand and develop a personnel plan, creating successful strategies for recruiting and selecting valuable human capital.
  • Identify and apply the concepts associated with employee safety and health in support of effectively managing human capital.
  • Create strategies to support the training and development of human capital.
  • Identify and apply the concepts/issues associated with compensation and benefits to create an attractive environment that draws valuable resources to an organization.
  • Explain the distinction between performance management and performance appraisals.
  • Conceptualize HR strategies to improve overall organizational success.
  • Identify the key elements and contexts of affirmative action and use that insight to support making informed decisions regarding diversity when managing human capital.
  • Define and apply the concepts of labor and employee relations, and clearly define the relationship between the employer and the employee.
  • Identify ethical issues facing HR managers today and explain how HR can help to build an ethical organization.
  • Discuss the impact that career/succession planning has on human capital.
  • Explain how to develop a personnel plan, creating successful strategies for recruiting, selecting, onboarding, and retaining valuable human capital.
  • Explain why strategic resource planning is necessary to attract, recruit, and retain valuable human capital.
  • Identify current trends and challenges in managing human capital today.

Industrial Organization

This course surveys major topics and theories in the field of Industrial Organization. As part of the applied microeconomics structure, Industrial Organization uses the basic tools of microeconomic theory and game theory to study the structure and behavior of firms and their strategic interactions with one another in the marketplace. Industrial Organization also studies the impact that those interactions have on market structure and welfare. Different kinds of market structures (perfect competition, imperfect competition, monopoly, oligopoly, and so forth) present different scenarios in which firms strive to acquire and use market power for their strategic advantage. While perfect competition and monopoly are two market structures on opposite ends of the spectrum, imperfect competition—where a limited number of firms attempt to manipulate their rivals or consumers—is a more realistic set-up. This course will emphasize market structure analysis and the strategic behaviors of competing firms, including (but not limited to) product differentiation, collusion, price discrimination, pricing strategy, non-price discrimination (i.e. advertising), horizontal mergers, vertical integration, and vertical restraints. Industrial Organization also examines the public policies that affect the structure of markets and the behavior of firms. The government’s role as a regulator, working to prevent monopolization and restraint of trade, has been a constant topic of study in and of itself. Although this course will introduce Antitrust Laws in the above context, it will not delve into the regulatory implications or the welfare analyses of firms’ strategic behaviors, as those subjects belong to more advanced Industrial Organization modules. By the end of this course, you will be able to understand, analyze, and evaluate the basic theoretical models that define the behavior of firms and industrial organization more generally. You will also learn the game theory approach to some of these models. While emphasizing theory, the lessons in this course will include empirical studies that will provide you with a deeper understanding of the topic. This should enable you to apply the theory you have learned to real world examples. This course requires you to have completed the Principles of Microeconomics course and Calculus I. You should also have a basic understanding of game theory prior to enrolling in this course.

Learning Outcomes

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

  • Identify different theories of the firm.
  • Describe the different market structures under which firms operate, with particular emphasis on concentration and monopoly power as well as oligopoly.
  • Analyze how market structures impact the behavior of firms.
  • Identify and compare the anti-competitive pricing strategies that firms adopt under various market structures.
  • Use the theoretical insights presented in this course to explain observed features of particular markets and industries.
  • Apply a deepened knowledge of game theory to understand the strategic behavior of firms in the market.
  • Determine the factors that influence the firm’s decision-making over time.
  • Critically analyze the role of the government in regulating industries and the subsequent implications of public regulation.

Intermediate Macroeconomics

In this course, students will build on and apply what they’ve learned in the introductory macroeconomics course. They will use the concepts of output, unemployment, inflation, consumption, and investment to study the dynamics of an economy at a more advanced level. For example, now that students understand the relationship between supply and demand in general terms, they will be asked to examine the effects that short-run and long-run price changes have on full employment and output. As the course progresses, they will gain a better appreciation for how policy shifts and changes in one sector impact the rest of the macroeconomy (whether the impacts are intended or unintended). Students will also examine the causes of inflation and depression, and discuss various approaches to responding to them. By the end of this course, they should be able to think critically about the economy and develop their own unique perspective on various issues. Remember that macroeconomics attempts to explain the role of government and the scope of total production in a national economy. Economists use abstract quantitative tools to develop concepts about how markets and systems work; basic assumptions are made and then relaxed to create more flexible and realistic models. This course will use a variety of mathematical techniques to describe how the macroeconomy changes over time.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Explain the standard theory in macroeconomics at an intermediate level.
  • Explain and use the basic tools of macroeconomic theory, and apply them to help address problems in public policy.
  • Analyze the role of government in allocating scarce resources.
  • Explain how inflation affects entire economic systems.
  • Synthesize the impact of employment and unemployment in a free market economy.
  • Build macroeconomic models to describe changes over time in monetary and fiscal policy.
  • Compare and contrast arguments concerning business, consumers and government, and make good conjectures regarding the possible solutions.
  • Analyze the methods of computing and explaining how much is produced in an economy.
  • Apply basic tools that are used in many fields of economics, including uncertainty, capital and investment, and economic growth.

Intermediate Microeconomics

This course is designed to extend your knowledge of the basic microeconomic principles that will provide the foundation for your future work in economics and give you insight into how economic models can help us think about important real world phenomena. Topics include supply and demand interaction, utility maximization, profit maximization, elasticity, perfect competition, monopoly power, imperfect competition, and game theory. Microeconomics is the study of rational choice behavior on the part of individual consumers and firms. In general, economists are interested in how market mechanisms solve extremely complex resource allocation problems. This course presents a logical and coherent framework in which to organize observed economic phenomena. Several economic “models” are developed and analyzed in order to help explain and predict a wide variety of economic (and sometimes, seemingly non-economic) phenomena. Microeconomic theory is based on the notion that individuals (and firms) have well defined objectives (e.g., maximizing utility or profits) and behave systematically according to the incentives and constraints of their economic environment. It is this framework which allows the economist to gain a fundamental understanding of the choices people make in an economic setting.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Explain the standard theory in microeconomics at an intermediate level.
  • Explain and use the basic tools of microeconomic theory, and apply them to help address problems in public policy.
  • Analyze the role of markets in allocating scarce resources.
  • Explain both competitive markets, for which basic models of supply and demand are most appropriate, and markets in which agents act strategically, for which game theory is the more appropriate tool.
  • Synthesize the impact of government intervention in the market.
  • Develop quantitative skills in doing economic cost and consumer analysis using calculus.
  • Compare and contrast arguments concerning business and politics, and make good conjectures regarding the possible solutions.
  • Analyze the economic behavior of individuals and firms, and explore how they respond to changes in the opportunities and constraints that they face and how they interact in markets.
  • Apply basic tools that are used in many fields of economics, including household economics, labor economics, production theory, international economics, natural resource economics, public finance, and capital markets.

International Economics

The objective of this option course is to provide: i) an analytical training in the critical use of theories of international trade and finance; and ii) an opportunity for students to develop critical understanding of the current policy debate on international trade and development, foreign direct investment and multinational corporations, international migration and labour market issues, regional integration and globalisation, management of open developing economies with large external shocks, dynamics of currency and financial crises, management of exchange rates and capital accounts, international monetary and financial architecture, and other global economic issues. Throughout the course, emphasis is placed on understanding theories as well as on testing and evaluating these theoretical propositions in the light of empirical evidence and real world issues.

The course in International Economics consists of two modules. The first module covers issues related to international trade and investment. It includes topics such as pure theories of international trade (classical, neo-classical, new theories of trade); political economy of protection; welfare analysis of trade policies; trade, growth and development; economics of regional integration and multilateral arrangements (GATT and WTO); international migration and labour markets; multinational corporations and foreign direct investments; the characteristics and effects of globalisation, including the globalisation-growth-income inequality – poverty nexus.

The second module deals with international finance and monetary issues. It covers topics such as foreign aid, economic development and the gap model; theories of international capital flows; growth-cum-debt model and debt sustainability; foreign exchange markets and exchange rate policies; macroeconomic models with capital flows; currency crisis models; theory of optimal currency area and monetary union; management of capital flows; dynamics of global financial crisis, issues of international governance and cooperation in managing financial flows.

Objectives and Learning Outcomes

On successful completion of the course, students will be able to:
1. Identify and analyse different theoretical models of international economics in light of ‘real world’ situations
2. Assess the impact of the economies of regional integration and multilateral arrangements
3. Critically evaluate the character and effect of globalisation, including the globalisation-growth-income poverty nexus

International Political Economy

This course will introduce you to the field of international political economy. International political economy combines two very important aspects of international relations: politics and economics. The goal of this course is to make you aware of the ways in which economics and politics influence each other when it comes to creating policy. It explores the interrelated nature of both economics (via its emphasis on markets) and politics (via its emphasis on power). This course is thus both an economics and a politics course. However, please note that though we will review some economics concepts, this course is not an econometrics course and does not require a background in economic methods. Economic policy can be an important instrument of statecraft and diplomacy between countries. For example, countries often use trade relationships, promises of aid, loans, and investments to build goodwill. On the other hand, countries can also use economic policy to punish or express disapproval towards other countries. The United Nations Security Council will often, for example, use economic sanctions as a policy instrument when a country is found to be in violation of international law. In this course, you will also learn about the international organizations and regimes that are designed to facilitate international economic transactions and ensure economic stability, such as the World Trade Organization (WTO) and the International Monetary Fund (IMF). We will also review the impact that globalization has on the world economy and the gap between rich and poor countries.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Identify, explain, and compare major theories in the field of international political economy.
  • Analyze the effects of trade policies on domestic and international actors.
  • Evaluate the costs and benefits of Foreign Direct Investment and Sovereign Debt.
  • Explain the development of the international currency system and analyze the effects of domestic policies.
  • Compare and contrast approaches to human rights and access to basic human needs.

International Trade and Finance

This course will provide you with an analytical framework for the study of international trade and finance. Historically, international trade has played a critical role in enabling countries to grow, develop, and become economically powerful. Through international trade in goods and services, the economies of different countries are more closely linked to one another now than ever before. At the same time, the world economy is more turbulent now than it has been in decades. Keeping up with the shifting international environment has become a central concern in business strategy and national economic policy. This course uses the same fundamental methods of analysis deployed in other branches of economics, as the motives and behavior of individuals and firms remain the same whether they are in the context of international trade or domestic transactions. You will learn, however, that international trade introduces an entirely new and different set of concerns as well. This course will cover a broad array of relevant topics. We will explore both theoretical models and empirical studies as we seek to determine a model that best fits “real world” data. This course will frequently compare and contrast competing theories concerning the nature of international trade and the gains or losses thereof. We will work to understand the economic intuition behind technically demanding models and define the assumptions behind various theories before evaluating how well those models fit actual trading economies. We will also explore the relevance and policy implications of various theories/models, especially in terms of growth, income distribution, and development.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Distinguish between international trade and international finance.
  • Discuss the importance of trade in the world and how this has changed over the past decades.
  • Describe the current world trading system and the basic rules underlying this system.
  • Explain and discuss historic, current, and emerging economic models in the United States and around the world.
  • Discuss recent developments in the field of international macroeconomics.
  • Use an analytical framework to examine contemporary international economic issues.
  • Discuss international trade and the issues arising from the globalization of markets.
  • Discuss the concepts of foreign exchange, its importance to individuals, businesses, and the performance of national economies, and how foreign exchange markets work.
  • Analyze policy issues related to international trade.
  • Describe the legal system governing international economic transactions and international economic relations.
  • Answer the four trade questions: “Why do countries trade?,” “How does trade affect production and consumption in each country?,” “Which country gains from trade?,” and “Within each country, who are the gainers and losers from opening trade?”

Introduction to Comparative Politics

Like it or not, we can’t escape politics. Politics, a term best defined as the distribution, exercise, and consequences of power, exists at multiple levels in our society and in our daily lives. We experience politics in action, for example, in international negotiations, government policy choices, our workplace, and even in our own families. This course focuses its efforts on exploring the formal, public sphere of politics and power relations through a systematic study and comparison of types of government and political systems. Comparatists (practitioners of comparative politics) seek to identify and understand the similarities and differences between these systems by taking broad topics—say, for example, “democracy” or “freedom”—and breaking them down into factors that can be found in individual systems. We call this general approach “the comparative method.” The goal of the comparative method is to identify the factors and/or categories of analysis to effectively compare and contrast different political phenomena. Using the comparative method, we can tackle broader, more complicated questions like: Are certain forms of representative democracy more effective than others? Why are some countries extremely prosperous, while others are extremely poor? How does the degree of authoritarian control by a government drive economic development? Does culture impact quality of governance? The course proceeds as follows: Unit 1 introduces basic concepts in social science, comparative political theory, and methodology. Unit 2 examines the state and compares authoritarian, totalitarian, and democratic state forms. Unit 3 focuses on the concept of democracy and democratization. Unit 4 explores institutional features of government and governance. Unit 5 moves outside the realm of government structure to explore how variables including culture, interest groups, pressure groups, lobbying, the press, media campaigns, nongovernmental and quasi-nongovernmental organizations shape outcomes in politics. Unit 6 compares different ideologies and government policy processes. In Unit 7, we apply comparative methods to examine variations of government structure and economic development across four different regions of the world: the Americas, Africa, Asia, and the Middle East. Upon successful completion of the course, you will have the methodological background to understand and explain variations in political behavior and political institutions. You will also have a general understanding of the issues facing political systems in each of the regions covered.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Identify and differentiate between various theoretical research paradigms employed in the social sciences.
  • Apply comparative methodology to the study of political systems.
  • Identify and differentiate between various methodologies used to compare political systems.
  • Define the chief characteristics of a nation state.
  • Identify and explain various comparative methodologies used to compare various political systems.
  • Distinguish between unitary, federal, and confederal governmental models.
  • Compare and contrast political cultures in selected countries.
  • Compare and contrast political socialization in selected countries.
  • Describe and explain patterns of representation and participation in selected countries.
  • Compare and contrast the roles and functions of political parties in selected countries.
  • Compare and contrast the role of interest groups in selected countries.
  • Identify and explain governance and policy-making in selected countries.
  • Compare and contrast the role of the executive in selected countries.
  • Compare and contrast the role of the judicial branch in selected countries.
  • Compare and contrast the role of the bureaucracy and the policy process in selected countries.
  • Describe and explain the political economy and development in selected countries.
  • Identify and explain political challenges and changing agendas in selected countries.

Introduction to Financial Accounting

Accounting can be considered the language of business. If you are learning accounting for the first time, embracing its foundational concepts may be a challenging process. Mastery of accounting primarily rests in your ability to critically think through and synthesize the information as it applies to a given situation. You should approach the learning of accounting the same way you would approach learning a foreign language; It will take time and practice to ensure you remember the concepts. There are a number of sub-disciplines that fall under the umbrella of “accounting,” but in this course, we will be focused on financial accounting. Accounting as a business discipline can be viewed as a system of compiled data. The word data should not be confused with “information.” In terms of accounting, “data” should be viewed as the raw transactions or business activity that happens within any business entity. For example: Someone uses $30,000 of their savings to start a business. The use of these funds within the start of this new business is in fact data. Now that you have this data, what are you going to do with it? The answer to this question can be summed up in one word – accounting! Taking this data and transforming it into useful information is what happens when accounting is implemented within a business. The wordinformation should be viewed as the communicated results of the data as it has happened in the business within a specified period of time. This information is used by decision makers to support how they determine specific courses of action within the business. This course introduces you to financial accounting in preparation for more advanced business topics within the business major. Recording financial information in a standard format allows managers, investors, lenders, stakeholders, and regulators to make appropriate decisions regarding their respective interests. In this course, the formats of focus will be identified as the Income Statement, the Balance Sheet, Statement of Cash Flows, and Statement of Shareholders’ Equity. In this course, you will learn how to compile and analyze these financial statements, determine the value of a firm, and compare the firm to its competitors.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • demonstrate an understanding of the foundational principles and objectives of accounting;
  • apply the accounting equation to illustrate the impact of business transactions and to transform business transactions (data) into usable information;
  • describe the accounting cycle and identify specific debits and credits, journals, t-accounts, a trial balance, and resulting financial statements;
  • explain why adjusting entries are necessary and distinguish between various types of adjusting entries;
  • discuss and demonstrate the use of the accounting worksheet as a means of preparing financial statements;
  • explain and execute the closing process for a specified accounting cycle;
  • identify the foundational accounting concepts, assumptions, and principles through the analysis of specific business situations;
  • locate public company financial statements, and read and interpret financial statements;
  • identify and analyze accounting transactions of a merchandising company;
  • define and solve for specific business events involving various inventory methods;
  • define and apply the accounting elements associated with receivables and payables;
  • identify, record, and depreciate property, plant, and equipment;
  • distinguish between tangible and intangible assets;
  • describe the difference between bonds and capital stock; Account for bonds and capital stock;
  • account for paid-in capital, cash dividends, stock dividends, stock splits, and retained earnings appropriations; and
  • describe the types of business transactions that are included in operating, investing, and financing activities on the statement of cash flows; prepare a statement of cash flows.

Introduction to Philosophy

This course will introduce you to the major topics, problems, and methods of philosophy and surveys the writings of a number of major historical figures in the field. Philosophy can be – and has been – defined in many different ways by many different thinkers. In a scholarly sense, philosophy is the study of the history of human thought. It requires familiarity with great ideas understood through the various major thinkers in world history. In its most general sense, philosophy is simply the investigation of life’s “big questions.” We will explore such fundamental questions in several of the core areas of philosophy, including metaphysics, epistemology, political philosophy, ethics, and the philosophy of religion. With the help of commentaries and discussions from a number of contemporary philosophers, we will read and reflect on texts by major Western and non-Western thinkers including Lao Tzu, Buddha, Confucius, Plato, Aristotle, Saint Anselm, René Descartes, Blaise Pascal, John Locke, Immanuel Kant, Thomas Hobbes, John Stuart Mill, Friedrich Nietzsche, Karl Marx, and Bertrand Russell. This course aims to not only familiarize you with philosophers and problems but to also improve your ability to think critically about the issues, develop your own ideas about them, and express these ideas clearly and persuasively in writing. Lesson 1 introduces philosophy as a discipline and provides a sense of its subject matter and methodology. Lesson 2 addresses topics in metaphysics and epistemology – traditionally the “core” areas of philosophy. Lessons 2, 3, and 4 cover moral, political, and religious philosophy, respectively. Each unit presents selections from a set of philosophers whose works are traditionally compared on the same themes in order to set up contrasting approaches and opinions.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • Identify and describe the major areas of philosophical inquiry, explain how those areas differ from and relate to one another, and place the views and arguments of major philosophical figures within those thematic categories;
  • Use philosophical terminology correctly and consistently;
  • Identify and describe the views of a number of major philosophers and articulate how these views are created in response to general philosophical problems or to the views of other philosophers;
  • Explain the broad outlines of the history of philosophy as a framework that can be applied in more advanced courses;
  • Identify strengths and weaknesses in the arguments philosophers have put forward for their views and formulate objections and counterarguments of your own invention; and
  • Apply critical thinking and reasoning skills in a wide range of career paths and courses of study.

Introduction to Political Science

This is a survey course, and as such it can either be used by students who are looking to take just one general overview course, or for students who want to go on to more advanced study in any of the subfields that comprise the political science discipline, such as American politics, comparative politics, international politics, or political theory. This course will survey the different ways in which political scientists study the phenomena of politics and will deepen your understanding of political life as both a thinker and a citizen. The goal of this course is to introduce you to the discipline’s concepts, terminology, and methods and to explore instances of applied political science through real world examples. As an introductory course, PSC205 will focus on the basic principles of political science by combining historical study of the discipline’s greatest thinkers with analysis of contemporary issues. We will also identify and discuss the questions that perennially drive the field of political science, including (among many others): “How do we define the changing nature of power?,” “How do we differentiate between legitimate and illegitimate governance?,” “What are the differences between political institutions and political behavior?,” and “How do leaders define who gets to be heard and counted in a political community?” By the end of this course, you will be familiar with these issues and capable of discussing them within the context of contemporary politics.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • describe and evaluate the concepts of power, legitimacy, and authority;
  • discuss the origins and developments of the nation-state;
  • distinguish between traditional and behavioral approaches to the study of politics;
  • discuss general approaches to the study of politics, such as political philosophy, political systems theory, and political economy;
  • describe and discuss the political socialization process;
  • examine the nature of political participation from a comparative perspective;
  • discuss the nature of public opinion from a comparative perspective;
  • identify the different types of electoral systems and be able to assess the implications of those systems;
  • identify the role and functions of political parties;
  • identify the different types of party systems from a comparative perspective;
  • describe and evaluate the general principles of presidential and parliamentary political systems;
  • describe and compare the essential features of at least three governments of Western Europe;
  • identify and evaluate the principles of authoritarian and totalitarian governments;
  • discuss the concepts of political development and problems facing developing nations;
  • discuss and explain the origins and principles of Democratic Capitalism, Democratic Socialism, Marxist Socialism, National Socialism, Fascism, and third world ideologies;
  • describe the origins, development, and principles of international law;
  • identify and assess the influence of major international organizations;
  • describe and analyze the causes of international conflict; and
  • analyze current critical issues in international relationships.

Introduction to Psychology

This course will introduce you to the fundamental principles of psychology and to the major subjects of psychological inquiry. It has been designed to not only provide you with the tools necessary for the study of psychology but to present you with a sampling of the major areas of psychology research. The course begins with a short overview of how psychology developed as an academic discipline and an introduction to a number of the principle methodologies most commonly deployed in its study. The subsequent units are arranged around broad areas of research, including emotion, development, memory, and psychopathology. We will focus on well-substantiated research and current trends within each of these categories.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • identify the steps of the scientific method and explain how this method applies to psychological research methodology and statistical analyses;
  • demonstrate an understanding of the general history of the field;
  • explain the nature versus nurture argument and the current status of thinking regarding gene-environment interaction;
  • identify the basic components and mechanisms of the major biological systems often studied in psychology; and
  • demonstrate an understanding of the basic findings within a variety of areas of psychology, including sensation and perception, memory and learning, development, social psychology, and psychopathology.

Introduction to Public Administration

In the field of public policy and administration, there have been several enduring questions. In a larger context, what is the role of government? There has always been conflict in our society regarding the proper role of government. How should public organizations be structured to reflect the will of the public? How do we ensure accountability? What is the proper role of the public administrator/analyst in policy implementation? How should programs be evaluated? This course will provide you with an overview of the field of public administration, particularly the distinctions that set management of public organizations apart from that of private-sector organizations. You will begin with an examination of the history and perception of the role of government in the provision of services. You will then examine the context in which public administrators deliver services to citizens. Public administrators must also possess a basic knowledge of managing organizations and people in order to implement policy—this includes an understanding of organization theory, personnel administration, budgeting, and the administration and evaluation of policies and programs. By the end of this course, you will gain a broader understanding of public organizations, the administration of public programs, and a greater appreciation for public service.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Describe the functions of government and the role of public administrators in carrying out those functions.
  • Discuss the history, scope, and environment of public administration.
  • Articulate the basic theories and concepts relevant to the field of public administration.
  • Explain and identify the importance of ethics and accountability in public organizations.

Introduction to Science, Technology, and Society

This course will introduce you to the field known as Science and Technology Studies (STS). STS is an interdisciplinary field that examines how science and technology shape societies, cultures, and the environment and how social, cultural, and environmental factors shape the development of science and technology. These rich connections are most easily seen in areas such as the Internet and other digital technologies; the biological sciences (including biotechnology, genetics, and genomics); medical sciences and technologies; energy sciences and technologies; and ecological and environmental sciences. STS also studies the history of science, focusing on how social and cultural values and interests have shaped science and technology. This course begins with an introduction to STS and continues by examining the nature of science according to various philosophical perspectives. In the process, you will be introduced to key terms necessary for understanding those perspectives. When you have finished this course, you will be able to explain developments in science and technology in terms of their interactions with social, cultural, environmental, and other issues. This course will also prepare you for the STS major by introducing its core components: the philosophy of science, history of science, history of technology, science and ethics, and science policy.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • define STS;
  • define key terms necessary for understanding the field of STS;
  • identify and define the major subfields or approaches to the field of STS;
  • define the nature of science and technology according to several key philosophical perspectives;
  • identify and define the major methodologies of each of the subfields;
  • identify major thinkers in the field and pair them with their respective approaches and/or methods;
  • compare and contrast the various STS approaches;
  • draw on case studies in order to discuss and identify how the major approaches or subfields may be used to explain and/or critique particular scientific and technological phenomena; and
  • identify and explain legitimate questions and criticisms that STS poses to the science and technology fields.

Introduction to Sociology

Sociology is the scientific study of society. As such, it closely examines human interactions and cultural phenomena, including topics like inequality and urbanization and the effects of these on groups and individuals. To do their work, sociologists rely on a philosophy of science called positivism, which you will study in Unit 1. The philosophy of positivism asserts that authentic knowledge, or truth, can only be gained through empirical observations. In other words, we need to be able to experience our observations or use scientific measurement with a form of sensory experience, as opposed to using faith-based or emotional experiences. Another central concept to sociology is that of the sociological imagination. The sociological imagination allows sociologists to make connections between personal experiences and larger social issues. For example, did you know the U.S. has the highest rate of teen pregnancy in the industrialized world? In order to understand this trend, sociologists use scientific methods to make concrete connections between social issues like sex education in schools, sexualization in the media, and poverty and the personal issue of teenage sexual activity and pregnancy. This course is designed to introduce you to a range of basic sociological principles so that you can develop your own sociological imagination. You will learn about the origins of sociology as a discipline and be introduced to major sociological theories and methods of research. You will also explore such topics as sex and gender, deviance, and racism. As you move through the course, try to develop your sociological imagination by relating the topics and theories you read about to your own life experiences.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • define sociology and its purpose;
  • define and discuss sociological imagination;
  • use the sociological perspective or imagination to interpret or describe social phenomena, such as racism, sexism, and deviance;
  • describe and critically discuss major theoretical perspectives, such as conflict theory, structural functionalism, and symbolic interactionism; and
  • apply sociological concepts to observable events and social issues.

Labour Economics

In economics, the term “labour” refers to workers. As a factor of production, labour earns wages for the services that it renders. As such, students of labour economics have traditionally set out to understand wage formation, the level of employment, and all elements that go into the making of a wage relationship. Over the years, the social and economic contexts in which labour markets operate have become increasingly complex; nowadays, labour economics is no longer limited to the study of wages. Modern labour economics instead seeks to understand the complex workings of the labour market by studying the dynamics between employers, employees, and their wage-, price-, and profit-making incentives. In other words, modern labour economics explores the outcomes of the labour market under the assumption that workers strive to maximize their wellbeing and firms strive to maximize profits. It also analyzes the behavior of employers and employees and studies their responses to changes in government policies and/or in the demographic composition of the labour force. In order to study how labour markets work, we must first build a good theory of the labour market with empirical implications that can be tested with real world data. This course is accordingly designed to teach both fact and theory. By looking at facts through data and empirical findings, we can better understand the mechanisms of the labour market. The theory, on the other hand, will help us in understanding how this data is generated. Prior to taking this course, you should have completed ECON101: Principles of Microeconomics or, at a minimum, have a basic understanding of the topics covered in microeconomics—namely, the demand and supply model and the concept of elasticity. The purpose of this course is to teach you how workers and firms make decisions in the labour market. The course will also teach you how the government can alter the economic opportunities available to both workers and firms by changing the “rules of the game” through social policies, thus influencing the decisions of these two players. At the end of the course, you should be able to use the tools learned in this course to understand, analyze, and predict some of labour market outcomes and examine the different ways social policy can affect the interaction between workers and firms.

Learning Outcomes

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

  • Demonstrate an understanding of basic labour economics theory, including labour market structures and wage determination.
  • Apply their understanding of theoretical models to analyze trends in data pertaining to topics in labour economics.
  • Apply their understanding of theoretical models to case studies presented in the course.
  • Construct, defend, and analyze important labour policy issues.
  • Comprehend, assess, and criticize existing empirical work in labour economics.

Management Accounting

In Acct 101 and 102, we learned that firms need to track various forms of data in order to report to investors, regulators, and potential business associates such as customers and vendors. Firm managers, however, often need information that is much more detailed than the data provided in these financial reports. They use what is known as “management accounting” to make various decisions about their businesses. To avoid information overload, much of their data is tailored to the needs of a particular business unit instead of generally applicable to the firm as a whole. As you might expect, different managers have different needs. However, almost all management decisions deal with the same key issues: cost, price, and profit. This course will examine this sort of decision-making, identifying the tools and methods managers use to make the best-informed decisions possible. We will begin with an introduction to the terms that will be referenced in the later units. We will then discuss the various methods and theories that managers deploy when tracking costs and profits. The final section will explain how managers report the overall performance of a firm or department for internal use. Upon completion of this course, students will be better prepared to make informed decisions within a firm.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Identify and compare and contrast financial accounting and management accounting in terms of audience, reporting, time frame, and use of information.
  • Describe, analyze, and record transactions of a manufacturing business.
  • Calculate and use cost information to support operating and strategic decisions regarding products, customers, and long-term assets.
  • Explain how management accounting information facilitates planning, controlling, and decision-making activities.
  • Interpret time value of money calculations to make a capital budgeting decision.
  • Describe why management accounting requires a cross-functional team.

Mathematics for Economists

Math for Economists II will help you assemble a toolkit of skills and techniques to solve fundamental problems in both macroeconomics and microeconomics. The material covers calculus concepts and should help you identify the best approach to solving problems. For example, an economist may be called upon to determine the right-mix allocation of capital to a production process. The tools in this course will help you evaluate the options and select from the best alternatives. Advanced courses in economics typically utilize mathematical techniques beyond basic calculus; so, gaining practice in fundamental skills can serve as a good basis for further study. You will learn concrete applications of how calculus is used and, more importantly, why it works. Calculus is not a new discipline; it has been around since the days of Archimedes. However, Isaac Newton and Gottfried Leibniz, two 17th century European mathematicians concurrently working on the same intellectual discovery hundreds of miles apart, were responsible for developing the field as we know it today. This brings us to our first question, what is calculus today? In its simplest terms, calculus is the study of functions, rates of change, and continuity. While you may have cultivated a basic understanding of functions in previous math courses, in this course you will come to a more advanced understanding of their complexity, learning to take a closer look at their behaviors and nuances. In this course, we will address three major topics: limits, derivatives, and integrals, as well as study their respective foundations and applications. By the end of this course, you will have a solid understanding of the behavior of functions and graphs. Whether you are entirely new to calculus or just looking for a refresher on a particular topic, this course has something to offer, balancing computational proficiency with conceptual depth.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Define and identify functions.
  • Define and identify the domain, range, and graph of a function.
  • Define and identify one-to-one, onto, and linear functions.
  • Analyze and graph transformations of functions, such as shifts, dilations, and compositions of functions.
  • Characterize, compute, and graph inverse functions.
  • Graph and describe exponential and logarithmic functions.
  • Define and calculate limits and one-sided limits.
  • Identify vertical asymptotes.
  • Define continuity and determine whether a function is continuous.
  • State and apply the Intermediate Value Theorem.
  • State the Squeeze Theorem, and use it to calculate limits.
  • Calculate limits at infinity and identify horizontal asymptotes.
  • Calculate limits of rational and radical functions.
  • State the epsilon-delta definition of a limit, and use it in simple situations to show a limit exists.
  • Draw a diagram to explain the tangent-line problem.
  • State several different versions of the limit definition of the derivative, and use multiple notations for the derivative.
  • Describe the derivative as a rate of change, and give some examples of its application, such as velocity.
  • Calculate simple derivatives using the limit definition.
  • Use the power, product, quotient, and chain rules to calculate derivatives.
  • Use implicit differentiation to find derivatives.
  • Find derivatives of inverse functions.
  • Find derivatives of trigonometric, exponential, logarithmic, and inverse trigonometric functions.
  • Solve problems involving rectilinear motion using derivatives.
  • Solve problems involving related rates.
  • Define local and absolute extrema.
  • Use critical points to find local extrema.
  • Use the first and second derivative tests to find intervals of increase and decrease and to find information about concavity and inflection points.
  • Sketch functions using information from the first and second derivative tests.
  • Use the first and second derivative tests to solve optimization (maximum/minimum value) problems.
  • State and apply Rolle’s Theorem and the Mean Value Theorem.
  • Explain the meaning of linear approximations and differentials with a sketch.
  • Use linear approximation to solve problems in applications.
  • State and apply L’Hopital’s Rule for indeterminate forms.
  • Explain Newton’s method using an illustration.
  • Execute several steps of Newton’s method and use it to approximate solutions to a root-finding problem.
  • Define antiderivatives and the indefinite integral.
  • State the properties of the indefinite integral.
  • Relate the definite integral to the initial value problem and the area problem.
  • Set up and calculate a Riemann sum.
  • Estimate the area under a curve numerically using the Midpoint Rule.
  • State the Fundamental Theorem of Calculus and use it to calculate definite integrals.
  • State and apply basic properties of the definite integral.
  • Use substitution to compute definite integrals.

Money and Banking

The historic economic events and financial crises of late 2008 have changed the entire landscape of money and banking. By applying a unified analytical framework to the models, The Economics of Money and Banking makes theory intuitive for students, and the rich array of current, real-world events keeps students motivated. Authoritative, comprehensive, and flexible, the text is easy to integrate into a wide variety of syllabi, and its ancillaries provide complete support when teaching the course.

Course Outcomes

Upon successful completion of this course, the student will be able to:

· Identify the implications, risks, and opportunities of global markets.

· Acquire and demonstrate analytical and problem solving skills within money, banking, and financial market disciplines.

· Assess how monetary activities affect an economy.

· Describe the structure of financial markets, the factors that shape them, and how they are regulated.

· Explain the nature and functions of money.

· Explain the role of financial markets in the economy.

· Assess the responses of the economy to both monetary and fiscal policy.

· Explain the basic purposes of the monetary and financial systems.

· Identify the markets for stocks, bonds, derivatives, and currencies.

· Explain the roles of banks and other financial intermediaries.

· Analyze how the Fed affects the economy.

· Identify how current money is traded for future money.

· Explain the concept “time value of money”.

· Discuss how one party to the transaction can make a decision at a later time that will affect subsequent transfers of money.

· Explain how information about the future can reduce the uncertainty associated with future monetary value.

· Assess how a financial crisis happens and how policy makers should respond.

Negotiations and Conflict Management

Negotiation refers to the process of interacting in order to advance individual interests through joint action. Contrary to what you might think, negotiations are not confined to the professional world; we often negotiate in our personal lives. The principles that guide successful negotiations in world politics are equally important in the business world as well as our personal lives. In fact, almost every transaction with another individual involves negotiation. As you will learn in this course, negotiation, conflict resolution, and relationship management are complex processes. Successful practitioners possess and apply a blend of perceptual, persuasive, analytical, and interpersonal skills that you will examine carefully in this course. In the ever-changing environment of modern business, firms start and grow by virtue of successful negotiations and by developing long-term relationships among two, three, or more parties involved, either directly or indirectly, in various business processes. By the same token, such relationships can break down due to ineffective negotiating behavior and conflict management approaches. Such breakdowns can also occur because of misunderstandings and misperceptions of the other parties’ positions and interests. This course will start with the conceptual framework of negotiations as it applies to all areas of negotiation in both the public and private sectors. As the course progresses, you will focus on business negotiation skills and strategies designed to help you maintain healthy business relationships. Specifically, you will learn about the concepts, processes, strategies, and ethical issues related to negotiation as well as appropriate conduct in multicultural business contexts. You will also learn to better understand the theory, processes, and practices of negotiation, conflict resolution, and relationship management so that you can be a more effective negotiator in a wide variety of situations. If you take advantage of the opportunities this course offers, you will be more comfortable and more productive managing negotiations as well as professional and personal relationships. You will examine strategies that are effective as well as those that are not. If a strategy works, you will determine how well it works and discuss alternatives to the less effective approaches. You will also identify various patterns of negotiation and conflict resolution in different national and cultural contexts, and you will gain an understanding of the influence of national and cultural variations in the decision-making process. By the end of this course, you will have developed an understanding of the principles, strategies, and tactics of effective negotiation, conflict resolution, and relationship management and enhanced your ability to assess the impact of interpersonal styles, personality, culture, and other variables that influence negotiation.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Identify and explain the theory, processes, and practices of negotiation, conflict resolution, and relationship management.
  • Identify and explain the principles, strategies, and tactics of effective negotiation and professional relationship management.
  • Identify and assess the variables in negotiations.
  • Develop reliable planning techniques.
  • Identify and describe negotiation theories, concepts and tactics to manage negotiations as well as professional relationships.
  • Assess the importance of various factors that impact negotiations, including specific issues in question, different stakeholder positions, interests, relationships, and group dynamics.
  • Develop and execute effective negotiation strategies and tactics for different scenarios.
  • Identify and employ effective communication, problem-solving, and influence techniques appropriate to a given situation.
  • Diagnose negotiation problems.
  • Describe new negotiation ideas and practices.
  • Explain how culture impacts negotiations.
  • Identify characteristics of culture or national identity that negotiators should become familiar with prior to engaging in cross-cultural or international negotiations.
  • Explain how Trompenaars’ and Hofstede’s theories of cultural dimensions can be applied to cross-cultural and international negotiations.
  • Describe the types of political and legal issues that might arise during the course of international negotiations.

Nigerian Peoples And Cultures

This course is a study of Nigerian history, culture and arts in pre-colonial times, Nigerian’s perception of his world, culture areas of Nigeria and their characteristics, evolution of Nigeria as a political unit, indigene and settler phenomenon, concepts of trade, economic self-reliance, social justice, individual and national development, norms and values, negative attitudes and conducts (cultism and related vices), re-orientation of moral environmental problems.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • identify the major ethnic groups of Nigeria.
  • describe the origins of these major ethnic groups.
  • identify the characteristics of their socio-political organization.
  • analyze Nigeria as a vital political unit.
  • discuss the historical perspective of education, economy, religion, social justice, moral rights of the citizens and national development.
  • define and characterize some culture areas of Nigeria.
  • review the impact of Western education.

Principles of Finance

In Financial Accounting, we learned that firms are required to keep detailed financial records so that organized reports can be distributed to managers, shareholders, and government regulators. Principles of Finance will focus on what these managers, investors, and government agencies do with this information. It is an introductory course to various fields of finance and is comparable in content to courses that other institutions label as “corporate finance” or “financial management.” Finance is a broad term; you will find that both managers that compile the financial reports we discussed in financial accounting and stockbrokers working on Wall Street will claim that they work in finance. So what exactly is finance? Finance is the science of fund management. It is distinct from accounting in that, whereas accounting aims at organizing and compiling past information, finance is geared towards deciding what to do with that information. In this course, you will be exposed to a number of different sub-fields within finance. You will learn how to determine which projects have the best potential payoff, to manage investments, and even to value stocks. In the end, you will discover that all finance boils down to one concept: return. In essence, finance asks: “If I give you money today, how much money will I get back in the future?” Though the answer to this question will vary widely from case to case, by the time you finish this course, you will know how to find the answer. You will learn how to use financial concepts such as the time value of money, pro forma financial statements, financial ratio analysis, capital budgeting analysis, capital structure, and the cost of capital. This course will also provide an introduction to bonds and stocks. Upon completion of this course, you will understand financial statements, cash flow, time value of money, stocks and bonds, capital budgeting, ratio analysis, and long term financing, and apply these concepts and skills in business decisions.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Explain the objectives of the financial manager and how the structure of a corporation affects financial decisions.
  • Explain how the financial manager uses and analyzes the income statement, the balance sheet statement, and the statement of cash flows to make better-informed decisions.
  • Explain the concept of time value of money and how the present value calculation is related to the future value calculation.
  • Explain the rules and methods in capital budgeting when making financial decisions.
  • Explain how the financial manager makes financial investment decisions when confronted with issues of risk and uncertainty while considering different risk preferences.
  • Explain the different components of a company’s capital structure.
  • Explain the Modigliani-Miller theorem in finance.
  • Apply the WACC formula for estimating a company’s cost of capital.
  • Explain the use of the CAPM model for estimating valuations of a company’s rate of return.
  • Use Excel to prepare an analysis of a company’s financial statements and stock data.

Principles of Management

Management refers to the organization and coordination of work to produce a desired result. A manager is a person who practices management by working with and through people in order to accomplish his or her organization’s goals. When you think of the term manager, you may be imagining your supervisor as he or she hires and terminates employees and makes major decisions above your authority. However, although you may not view yourself in this way, you yourself may also be a manager. In fact, many of us practice management skills in the workplace every day. You may have a team of employees that you manage, or lead a project that requires management strategy, or demonstrate leadership qualities among your peers. These are all scenarios that require you to apply the principles of management. In this course, you will learn to recognize the characteristics of proper management by identifying what successful managers do and how they do it. Understanding how managers work is just as beneficial for the subordinate employee as it is for the manager. This course is designed to teach you the fundamentals of management as they are practiced today. Management began to materialize as a practice during the Industrial Revolution, as large corporations began to emerge in the late 19th century and developed and expanded into the early 20th century. Many large corporations during the early 1900s did not have any competition and thus dominated their industries. At the time, each employee was seen as a cog in a wheel – a useful yet expendable part of a business’s operation. But the development of the assembly line in the 1910s and 1920s and the attendant automation of production processes drove changes in management strategy and required businesses to rethink how they managed their resources (i.e. their people, finances, capital, and tangible assets). The fundamental concepts of modern management were famously explored by Frederick Winslow Taylor, an American engineer who wrote The Principles of Scientific Management. Published in 1911 and based on research conducted by Taylor, the book’s analysis aimed to couple the efficiency needs of a business with the specialized talents of its employees. Taylor’s conclusion was that employees are almost always driven by the desire to earn money. Because businesses at the time had very little production capacity, the principles of management aimed toward driving sales by enticing employees with more money for increased production. As such, modern management’s focus was on producing as much product as possible to meet consumer demand for goods and services. By the late 20th century, automation, higher educational levels, and the push for speed had changed management practices, and businesses had by and large moved away from a top-down, centralized direction style and toward leaner organization with less regimentation. Nevertheless, Taylor’s theories and their lessons remain important as a foundation for understanding how to manage large projects that require a variety of skills and a large number of workers. This course will illustrate the ways in which the practice of management evolves as firms grow in size. Historically, middle managers have served as so-called “gatekeepers” who collect, analyze, and pass information up and down the management chain within an organization. But two recent developments at the turn of the 21st century – namely, low-cost data manipulation in computers and the emergence of widespread, real-time communication (in the forms of inexpensive, long-distance global calling, email, text messaging, and social media) – have reduced the need for these middle-manager gatekeepers, and companies have eliminated thousands of such positions. The goal? To speed the flow of information and decision-making and reduce the number of layers that separate the customer from the leadership of an organization. This course is based upon the idea that the essential purpose of a business is to produce products and services in order to meet the needs and wants of the marketplace. A manager marshals an organization’s resources (its people, finances, facilities, and equipment) toward this fundamental goal. In this course, you will explore the tasks that today’s managers perform and delve into the key knowledge areas that managers need to master in order to run successful and profitable businesses.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • explain the roles and responsibilities of managers;
  • discuss and analyze the purpose of management;
  • identify the significance of how historical theories have shaped management;
  • describe and assess the effect of globalization on operating, growing, and managing a business;
  • explain the importance of corporate culture in the business environment;
  • assess the impact of a culturally diverse workforce on businesses;
  • identify ethical practices in business;
  • apply the essential principles of quality leadership;
  • recognize and apply the skills necessary for carrying out effective management decision-making and strategic management planning;
  • discuss the importance of effectively managing teams in the workplace, and identify the roles teams play;
  • analyze the importance of an effective, qualified, and cohesive workforce;
  • examine the importance of effective teamwork as it relates to productivity;
  • assess the impacts of conflict in the workplace;
  • identify ways to attract, hire, and retain high-quality employees;
  • examine the importance of developing clearly identified goals and objectives;
  • distinguish ways in which organizational structure impacts strategy, performance, and operations;
  • analyze the significance of properly planning and executing change in an organization; and
  • determine ways in which technology can be used to advance an organization.

Principles of Marketing

In this course, you will learn about the marketing process and examine the range of marketing decisions that an organization must make in order to sell its products and services. You will also learn how to think like a marketer, discovering that the focus of marketing has always been on the consumer. You will begin to ask, “Who is the consumer of goods and services?” What does the consumer need? What does the consumer want? Marketing is an understanding of how to communicate with the consumer, and is characterized by four activities:

  • Creating products and services that serve consumers
  • Communicating a clear value proposition
  • Delivering products and services in a way that optimizes value
  • Exchanging, or trading, value for those offerings

Many people incorrectly believe that marketing and advertising are one in the same. In reality, advertising is just one of many tools used in marketing, which is the process by which firms determine which products to offer, how to price those products, and to whom they should be made available. We will also explore various ways in which marketing departments and independent agencies answer these questions – whether through research, analysis, or even trial-and-error. Once a company identifies its customer and product, marketers must then determine the best way to capture the customer’s attention. Capturing the customer’s attention may entail undercutting competitors on price, aggressively marketing a product with promotions and advertising (as with “As Seen on TV” ads), or specifically targeting ideal customers. The strategy a marketing firm chooses for a particular product is vital to the success of the product. The idea that “great products sell themselves” is simply not true. By the end of this course, you will be familiar with the art and science of marketing a product.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • define marketing and explain its function in society;
  • explain the difference between marketing, advertising, and sales;
  • describe marketing concepts and terminology;
  • describe the process of market research;
  • describe the concept of pricing;
  • explain product strategy, including the concepts of product life cycle, positioning, and pricing;
  • define competition and explain competitive analysis;
  • analyze the process of distribution and explain marketing channels;
  • identify the key elements of product promotions;
  • explain how to develop a marketing plan and apply the principles of marketing in creating a marketing plan; and
  • describe employment and career development opportunities in marketing.

Project Management and Evaluation

A Guide to the Project Management Body of Knowledge defines project as “a temporary endeavor undertaken to create a unique product, service, or result. The temporary nature of projects indicates a definite beginning and end. The end is reached when the project’s objectives have been achieved or when the project is terminated because its objectives will not or cannot be met, or when the need for the project no longer exists.” (PMBOK, 2008, p. 5). The discipline of project management has various definitions. Some describe it as a systematic method of planning and guiding a project from start to finish, while others have defined project management as a methodical approach of achieving targets and goals while optimizing the use of resources such as people, money, time, and space. Some have referred to project management as the ability to be open and to elicit commitments through effective communication regarding how team members are willing to participate. More specifically, the PMBOK (2008) defines project management as “the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.” (p. 6). Project management is therefore accomplished through the appropriate application and integration of systematic and logically grouped project management processes within five process groups including initiating, planning, executing, monitoring and controlling, as well as closing. Thus, good project managers should be able to understand and effectively execute all project management processes for each unique project while communicating effectively within their own teams as well as with all stakeholders across the organizational network. Project managers must also be artful at delegation, and they must understand that a cohesive team that works well together is critical to their success. While many associate project management with military logistics, information technology, and construction, project management procedures are integrated in some aspect of most occupations. Today, in addition to their normal duties, employees are often expected to take on additional assignments to get the job done on time and under budget. This course will walk you through the nuts and bolts of project management. From understanding the project life cycle to setting priorities and expectations to controlling expenses and reporting results, project management touches several resources within organizations. You will examine roles and environments and various techniques of planning, evaluation, and control. An overview of the tools used in contemporary project management will also be discussed throughout the course.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Define the terms project and project management.
  • Describe the project life cycle, project selection, project environment, and approval process.
  • Identify the project management process groups including initiating, planning, executing, monitoring and controlling, and closing.
  • Explain the role of the project manager in initiating and completing a project.
  • Explain knowledge areas including project integration management, project scope management, project time management, project cost management, project quality management, project human resource management, project communications management, project risk management, and project procurement management
  • Identify and apply the steps that must be taken to complete projects on time and on budget.
  • Identify and apply human-resources skills in forming and developing a team.
  • Describe how to organize the organizational structure for a project.
  • Identify tools and techniques for planning and tracking a project.
  • Develop methods for motivating teams and keeping them focused.
  • Explain how to make leadership decisions concerning organizational structure and the role of project resources on a project’s team.
  • Identify project risks.
  • Explain global project management.

Public Finance

Public Finance rests at the intersection of two disciplines: Public Economics and Public Choice. Public Economics deals with issues of social optimality: how much of a good (or ill) does a society desire (or tolerate), and how do we incentivize producers and consumers to attain that amount? Public economics concerns itself with externalities, which are costs that are borne by persons not involved in a market transaction. There are both positive and negative externalities; public economists want to know how we get more of the good and less of the bad. Public choice is the field of economics that looks into the behavior of voters, politicians, and bureaucrats and studies how they choose given different policy institutions. The field of Public Finance studies the interaction between these two disciplines, asking questions like: How do the incentives of the political actors shape the policies they craft? How does that in turn affect the outcomes in the marketplace? Alternately, students of Public Finance might ask: How do outcomes in the marketplace affect the incentives of political actors? After a review of economic cost-benefit analysis tools, we will consider the justification for government fiscal intervention. We will learn how to distinguish between public and private goods and how to determine whether the market and the government are succeeding in providing the optimal amount of these goods. After this introduction, we will use these tools to work through the effects that different kinds of taxes have, including on the behavior of individuals. We will use these same tools to analyze subsidies (put simply, subsidies are taxes in reverse). As we learn about taxes and subsidies, we will consider real world policies and how we might improve them by using the lessons learned from our economic logic. In the second part of the course, we will consider the activities of taxation and subsidy within the context of political processes. The final part of this course will provide you with an overview of general trends within the United States government’s tax and spending activities, along with current controversies regarding taxation and government spending in the US. By studying public finance, you should get a sense of the natural tension between the desire for policies that optimize society’s welfare and the motivations that lead to actual tax and expenditure policy outcomes. In this course, we will consider the question of how well the political system can be expected to do in terms of keeping the country financially sound.

Learning Outcomes

Upon completion of this course, you will be able to:

  • define public finance terms such as “public good,” “free-rider,” “median voter theorem,” “externality,” “pigouvian taxes,” and “Lindahl tax.” Where appropriate, students will be able to include a graphical representation of these concepts in their definition of these terms;
  • give examples of different types of taxation;
  • identify the costs to society related to the imposition of a tax;
  • understand some simple economic models related to public finance, including the Consumer and Producer surplus models and the Keynesian aggregate demand model;
  • graphically describe the effects of taxation on labor supply decisions, at both the individual (micro) and national (macro) levels;
  • explain the political economy aspects of public finance, particularly as they relate to rent seeking and lobbying, as well as the strategies that can be taken to combat rent-seeking behaviors, as well as other more general government failures;
  • describe the US taxation and budgeting system and list the most important areas of spending; and
  • discuss current controversies related to taxation and government spending.

Public Speaking

The purpose of this course is to systematically examine the elements and factors, which result in an effective speech. The textbook and associated lectures present an element-by-element examination of the essentials of public speaking while also identifying traits of the individual speaker and how they impact preparation and presentation. In addition to these resources, a comprehensive series of brief videos demonstrate specific, performance-oriented aspects of public speaking. Tying each of these course elements together are the themes of information and ethics, emphasized in each resource because they are becoming increasingly important to all communicators. For example, the textbook constantly returns to the discussion of society’s ever-increasing access to information and the demands on the individual to use it effectively and ethically. The authors note that “the New York Times has more information in one week than individuals in the 1800s would encounter in a lifetime,” which illustrates the challenges speakers face beyond the ready-made burden of coping with the inevitable anxieties of speaking to the public. In spite of that environment, ethical communication means not only accepting responsibility for the information one presents, but also speaking up when others abuse their information platforms. You should be aware that the textbook, Stand up, Speak out – The Practice and Ethics of Public Speaking, drives the content of each unit and thus will help you anticipate, absorb, and integrate the information more efficiently than the lectures. The most distinguishing trait of the textbook is the way it breaks topics down into categories and subcategories. You should notice immediately how this is presented in this first unit of the course, paying particular attention to the most frequently used word which signals such categorization, “type,” because knowing the “types” a subject can be classified into is equivalent to learning the options a speaker has when strategizing about what content or technique will be effective. Lastly, you should be aware that you will have the opportunity to use the abbreviated contents from a second textbook in conjunction with many of the video lectures. Although those lectures closely follow the 10th edition of Stephen Lucas’ The Art of Public Speaking, the online resources that you can access are from its 8th edition; nevertheless, you will still find that the chapter outlines, summary, and crossword puzzles in the older text are relevant and helpful tools for listening and responding to the lectures.

Learning Outcomes

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

  • Resolve ethical issues involving speech preparation and presentation.
  • Recommend techniques for resolving issues, which may interfere with active listening.
  • Identify the most effective speech topics, qualities, content, and delivery techniques based on the specific characteristics of an audience.
  • Evaluate the effectiveness of speeches for different types of audiences.
  • Use online and library-based research to find and critique the credibility of sources of information.
  • Cite sources of information appropriately, accurately, and clearly in both spoken and written contexts.
  • Choose the most effective pattern of organization for presenting different types of information to a listening audience.
  • Evaluate the effectiveness of supporting details or evidence based on the main ideas or arguments they are used to support.
  • Choose the most appropriate pattern for organizing a persuasive speech, based on the relationship between arguments and evidence or the relationship between the topic and the audience.
  • Identify whether the functions of an introduction or conclusion have been fulfilled and will be effective when presented to a specific type of audience.
  • Create keyword and sentence outlines for informative and persuasive speeches.
  • Revise a passage written for readers so that it can be delivered effectively and engagingly to listeners.
  • Identify and use techniques to improve the fluidity and clarity of verbal delivery.
  • Recognize non-verbal techniques that communicate the speaker’s confidence and credibility in a sample speech.
  • Demonstrate comprehensive knowledge of effective, ethical public speaking by accurately and thoroughly assessing the qualities of entire informative, persuasive, and special occasion speeches.

Research Methods

This Research Methods course is part one of the two-part Research Methods series, which also includes the Research Methods Lab course. Research is the foundation on which any solid science is built. This course will introduce you to research methodologies frequently used in the social sciences and especially those used in the field of psychology. It is important that you are able to not only identify the techniques used by others but also employ them yourself. The course is designed to provide you with the foundation you will need to apply certain techniques in the search for your own answers. The course will begin with an overview of how research, and its appropriate methodology, came about in science and, more specifically, psychology. We will then go over the ABCs of conducting research, learning how to define “variables” and why they are important. While this course will also touch upon statistics and their importance, it will not require a comprehensive knowledge of the subject. The course will conclude with a section on experiment results and the ways in which experimental design and statistics can be used to ensure certain results. By the end of this course, you should understand why research methodology is important in scientific research, be comfortable reading method and results sections of journal articles, and understand a range of different research methods (as well as when to employ each).

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Define science and list the key features of science.
  • Apply the key features of science to the discipline of psychology.
  • Describe the parts of a psychology research report.
  • Explain how psychology research ethics guidelines developed.
  • List the key ethical guidelines governing psychology research.
  • Define reliability and validity for research measures.
  • List and define the three primary research designs used for psychology research.
  • Identify the appropriate statistical analysis for each of the three primary research designs.

Society, Economy, and the Environment

Human societies have always been dependent upon local and regional environments for critical natural resources, and loss of these resources (either due to environmental changes or human overuse) has often reduced a society’s resilience to future challenges. When resilience decreases, the risk of societal collapse increases. Today, our globalized, highly connected societies have increased access to environmental resources, yet they leave us more vulnerable to disruptions and disasters that begin in other regions or systems. By understanding how our societies are connected to each other and to the environment, we can better manage our interactions so that they do not increase the potential for societal collapse. This course will use a complex systems theory perspective to investigate how coupled human-environment systems interact to either increase or decrease their risk of collapse. This complex systems approach works across many disciplines, so that human-environment linkages can be understood from sociological, environmental science, and economic viewpoints. The course will begin with a primer of complex systems theory and then will discuss the theory’s influence on the science of societal collapse. Then, the course will review trends and issues in a variety of systems and society-environment interactions that are critical to most communities, including strained energy and food resources, loss of biodiversity and cultural resources, risks posed by invasive species and international trade, impacts of overpopulation and excess consumption, and alteration of flows of key resources. The final “Solutions and Syntheses” unit will allow you to apply your knowledge to several discussions of current societies and their vulnerabilities. You will be able to identify the human and environmental connections that are at risk of failing (and therefore at risk for societal collapse). The goal of the course is to help you become literate in the terms and concepts relating to societal collapse and resilience, environmental issues, and societal responses to them. This course is cross-listed as an elective in two curriculums: a) Environmental Sciences and b) Science, Technology, & Society curricula. For Environmental Sciences majors, this course will demonstrate how human activities can rearrange ecosystems, alter flows of nutrients and species, and bring about what some geologists are now calling the Anthropocene Epoch, a period of time dominated by human activities. For Science, Technology, & Society majors, the course will help strengthen the application of a multidisciplinary approach to problem-solving and risk assessment that includes social and economic perspectives. The basic goal of this course is to provide you with the necessary theoretical foundation (complex systems and societal collapse theories) to allow you to identify critical interactions between social and environmental systems that govern systemic risk of collapse.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Connect the impacts of some environmental systems on other environmental systems, e.g., energy resources and climate change on biodiversity loss, pollution, and altered flows of resources.
  • Identify multiple society-environment connections as drivers of potential societal collapse.
  • Identify the environmental pressures that a particular society faces and potential solutions to ease these pressures and increase the society’s resilience.
  • Analyze and debate proposed solutions to environmental issues or sustainable development plans.
  • Integrate multiple society-environment issues into a complex narrative, explaining whether the society is expected to have great or little resilience to these issues and how the society might increase its resilience to changes in climate, resource availability, and globalization trends.

Statistics II

This course will introduce you to a number of statistical tools and techniques that are routinely used by modern statisticians for a wide variety of applications. First, we will review basic knowledge and skills that you learned in STA 190 Introduction to Statistics. Units 2-5 will introduce you to new ways to design experiments and to test hypotheses, including multiple and nonlinear regression and nonparametric statistics. You will learn to apply these methods to building models to analyze complex, multivariate problems. You will also learn to write scripts to carry out these analyses in R, a powerful statistical programming language. The last unit is designed to give you a grand tour of several advanced topics in applied statistics.

Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • apply statistical hypothesis testing for one population;
  • conduct statistical hypothesis testing and estimation for two populations;
  • apply multiple regression analysis to analyze a multivariate problem;
  • analyze the outputs for a multiple regression model and interpret the regression results;
  • conduct test hypotheses about the significance of a multiple regression model and test the significance of the independent variables in the model;
  • select appropriate multiple regression models using automatic model selection, forward selection, backward elimination, and stepwise selection;
  • recognize and address issues when using multiple regression analysis;
  • identify situations when nonparametric tests are appropriate;
  • conduct nonparametric tests; and
  • explain the principles underlying General Linear Model, Multilevel Modeling, Data Mining, Machine Learning, Bayesian Belief Networks, Neural Network, and Support Vector Machine.

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