What Economics is About
Economics gives students an understanding of how individuals and the
societies they live in provide for material needs and wants. Within
this general framework, the subject addresses a broad variety of issues
including employment, inflation, growth and development, technological
change, international trade, money and banking, poverty, the
environment, and the role of markets and governments in economic
processes. Students in economics examine both the ideas which have been
developed to analyze these issues as well as
the actual outcomes, policies, institutions and histories concerned.
Which Courses to Take
There are three options for beginning students. The bulk of first-year
students in Economics begin with introductory courses in macroeconomics
(EC 11) and microeconomics (EC 12), which are open to all UVM students.
These courses fulfill the distribution requirement for Social
Sciences,
as do all Economics courses. They are also required for a minor or
major
in Economics, as well as for various programs (and cross-college
minors)
outside of Arts and Sciences such as Business Administration. The
required sequence is to take EC 11 first and EC 12 second. These
courses, described
below, are offered in large- (140 maximum enrollment) or medium- (70)
sized
sections. Methods of evaluation vary by instructor, and range from two
or
three multiple-choice exams to a combination of exams with worked-out
problems
and short essays along with papers and/or reports.
Students can also enter Economics by taking a first-year seminar,
which is restricted to first-year A&S students. One of the
first-year seminars is Capitalism and Human Welfare (EC 60),
description below. Enrollment is limited to 30 students, and is
well-suited for students desiring closer classroom interaction with
each other and the instructor. Evaluation is by means of a series
of written assignments. Students in EC 60 participate in the Integrated
Social Sciences Program (ISSP). Students apply to be admitted to
ISSP. The Integrated Social Sciences Program examines important social
problems that shape students' lives from the perspective of various
social sciences. Students take five semester-long courses (15
credits) and an optional thesis.
There are other first-year seminars that are part of the Teacher-Advisor Program (TAP) offered through the College of Arts & Sciences to first-year students. TAP is an elective program that combines an interactive course environment with careful academic advising. In TAP, students enroll in a seminar of about twenty students that encourages you to approach major issues from a variety of points of view, develop your own creative projects, and express yourself in speech and writing. Your professor, doubling as your academic advisor, helps you further explore your interests and reach your academic goals.
EC 11--Principles of Macroeconomics
Staff--3 credits--Fall, Spring--open to all UVM students.
This course provides a thorough understanding of the principles of
economics that apply to an economic system as a whole, and also
introduces
basic supply-and-demand thinking. It places primary emphasis on the
study
of national income and price determina tion, and the government’s
impact
on those through fiscal (taxation and spending) and monetary policy.
The
course also develops students’ familiarity with economic performance
measures,
economic growth and international economics.
EC 12--Principles of Microeconomics
Staff--3 credits--Fall, Spring--Prerequisite EC 11--open to all UVM
students.
This course provides a thorough understanding of the principles of
economics that apply to the functions of individual decision makers,
both
consumers and producers, within the larger economic system. It places
primary emphasis on the nature of product markets, and includes the
study
of markets for the inputs into the production process. The course
analyzes
the relation between markets and the goals of efficiency and equity in
the economy, as well as the role of government in promoting those
goals.
EC 60--Capitalism and Human Welfare
Thomson--3 credits--Fall--ISSP students only.
This course explores how growth and innovation shape our world and
affect our standard of living. It examines theories of economic growth,
the historical experience of growth and innovation in the US and
elsewhere,
and the slowdown of the growth of income and productivity in the past
twenty years.
EC 95--Meritocracy in America: Exploring
Privilege and Affirmative Action
Sharpe--3 credits--First-year A&S students only.
Last modified August 22 2007 03:51 PM
