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BUS-3910 International Business
–Fa, Sp
3 hours
This course is a broad overview of how business is different
in a global setting by introducing key concepts, terms, trends,
theories and organizations. Each group will put these foundational
principles into practice by developing a country analysis and
business plan to launch a fast food restaurant into a new country.
Additionally, students will consider how to use the principles of
Business As Mission (BAM) to achieve spiritual objectives as well
as profit. (Fee: $20)
BUS-4420
2 hours
Business Ethics and Social Responsibility
–Fa, Sp
Ethics asks questions about what goals one should pursue and
what actions are appropriate in attempts to achieve these goals.
The course examines alternative frameworks for analyzing difficult
situations. Social responsibility refers to business decision making
linked to ethical values, compliance with legal requirements, and
respect for people, communities, and the environment. Ultimately,
the course will deal with how our biblical worldview defines and
drives the choices we face in the business world. Open only to
seniors in business administration. Must be taken at Cedarville
University; transfer or transient credit for this course will generally
not be accepted.
Economics (ECON)
ECON-2110 Essentials of Economics
–Fa, Sp
3 hours
The course provides an introduction to the essential principles
of economics. These principles would include such areas as
supply and demand, elasticity, productivity and cost analysis,
economic efficiency, national income, the consumer price index,
monetary and fiscal policy, business cycles, and economic
performance. Course not applicable to any major from the School
of Business Administration and also not open to students with
credit for ECON-2330 Microeconomics
and/or ECON-2340 Macroeconomics.
ECON-2330 Microeconomics
–Fa, Sp
3 hours
The area of economic inquiry that is concerned with the
effect of human behavior on the conduct of affairs within rather
narrowly defined units. It is the study of decision making regarding
consumption, production, and exchange that is carried on by
individual households and by business firms.
ECON-2340 Macroeconomics
–Fa, Sp
3 hours
The area of economic study that focuses on how human
behavior affects outcomes in highly aggregated markets, such
as the market for labor or for consumer products. It is a study
of the behavior of the economy as a whole, including the study
of economic phenomena such as interest rates, the price level
and national income, and output and employment.
Prerequisite
or corequisite: ECON-2330 Microeconomics or permission of
instructor.
ECON-3310 Money and Financial Markets
–Sp
3 hours
This course will introduce the student to monetary economics
and how the monetary system impacts the whole complex of
financial markets. Building on the foundation of macroeconomics,
the course will include detailed analysis of financial markets and
institutions as well as monetary theory. The institution of central
banking and its influence on money and financial markets will be
specifically evaluated.
Prerequisite: ECON-2340 Macroeconomics
or permission of instructor. Crosslisted with FIN-3310.
ECON-3335 Intermediate Microeconomics
–Fa
3 hours
Microeconomics is a study of economic principles that explain
how our market-directed economy organizes and coordinates
production and exchange. The principles explain a wide variety
of economic and social phenomena. The course studies basic
economic units, households and firms, and the equilibrium
through exchange among competing and cooperating people.
Prerequisites: ECON-2330 Microeconomics; GMTH-1020 College
Algebra; or permission of instructor.
ECON-3340 History of Economic Thought
3 hours
Principal figures in the development of economic ideas
and the contribution of each period of economic thought from
the mercantilist to the present.
Prerequisite: ECON-2330
Microeconomics; or permission of instructor.
ECON-3345 Intermediate Macroeconomics
–Sp
3 hours
This course will expand on macroeconomic principles to
provide an analytical framework for understanding business
cycles and associated short run economic fluctuations, long-
run correspondence with classical exonomic theory, as well as
growth theory. Macroeconomic policy debates will be reviewed
with the analytical tools developed.
Prerequisites: ECON-2340
Macroeconomics; GMTH-1020 College Algebra; or permission of
instructor..
ECON-3350 Comparative Economic Systems
–Fa
3 hours
Analysis of different types of economic systems. Special
emphasis is placed on centralized planning from both a theoretical
and empirical perspective. Centralized economic planning
is compared and contrasted with a free-market distribution
of resources. Individual country case studies are included.
Prerequisite: ECON-2330 Microeconomics or permission of
instructor.
ECON-3360 International Trade and Economics
–Fa
3 hours
A study of international economic theory and international trade
policy. The economic basis of trade and factor mobility, the benefits
of international trade, and the barriers to international trade flows
will be examined.
Prerequisite: ECON-2330 Microeconomics or
permission of instructor.
ECON-3375 Mathematical Economics
–Sp
3 hours
Mathematical Economics presents the mathematics required for
studying economics at the graduate level. Mathematical concepts
are developed in the context of economics and applications
are drawn from a wide range of fields in economics including
microeconomics, macroeconomics, and economic growth. The
main focus of this course is on optimization; therefore the course
will focus on single and multi-variable calculus techniques to
provide tools to analyze economic problems.
Prerequisites: ECON-
2330 Microeconomics; ECON-2340 Macroeconomics; ECON
3335 Intermediate Microeconomics; MATH-1710 Calculus I.
(odd
years)
ECON-3380
3 hours
Economic Development and Political Economy
–Sp
A study of the interaction of political and economic systems to
produce economic development and growth of nation states. A
framework for analysis of development is explored and applied to
specific case studies of both industrial and developing economics
that have recently undergone significant change.
Prerequisite:
ECON-2330 Microeconomics; or permission of instructor.
ECON-3390 Public Finance
–Fa
3 hours
A consideration of the financing of local, state, and federal
governments. Much attention is given to three functions of
government: stabilization, distribution, and allocation. All major
taxes that are present in the United States are studied as to
structure, revenue gained, and present status. Crosslisted as
PUAD.
Prerequisite: ECON-2330 Microeconomics; or permission
of instructor.
(even years)
ECON-3410 Topics in Economics
–Fa, Sp, Su
1–3 hours
A variety of courses are covered under this heading on an
experimental basis. This allows the department to meet the
changing needs of the students without formally adding or
dropping courses.
Page
224
2017–18 Undergraduate Academic Catalog
Course Descriptions
BUS-3910 – ECON-3410
BUSINESS ADMINISTRATION