Economics

GBE 101 Principles of Macroeconomics (3 Credits)

An introductory course covering issues relating to the economy as a whole. Topics covered include, but are not limited to, the study of national income and the Gross Domestic Product (GDP), national income determination, investment, consumption and consumption theories; classical economic theories, Keynesianism, monetarism, rational expectations, supply-side economics; the business cycle, inflation, unemployment; money and the money supply, the banking system, the federal reserve system, monetary and fiscal policy, budget deficits and the national debt.

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GBE 102 Principles of Microeconomics (3 Credits)

An introductory course covering issues relating to individual economic units: namely, the individual consumer, the individual firm, the individual factors of production-land, labor, and capital. Topics covered include, but are not limited to, price theory, price determination through equilibrium, supply and demand, analysis of consumer demand, utility theory and marginal utility, consumer equilibrium, indifference curve analysis, analysis of supply, theory of production, pricing in perfectly and imperfectly competitive markets, types of imperfect competition, anti-trust laws in the U.S., and distribution of income.

Prerequisite:

GBE 204 Money and Banking (3 Credits)

Money and its equivalents, interest rates, and the banking system. In particular, the workings of the money market and its instruments, including treasury bills and commercial paper, financial institutions, and monetary policy and its effects on the national and global economies.

Prerequisite: Prerequisites: GBE 101 and 102

GBE 211 Intermediate Macroeconomics (3 Credits)

Analysis of total national output, income, employment and price level determinations, as well as factors contributing to long-term growth. Government's economic role in fiscal and monetary policy is also discussed.

Prerequisite: GBE 101 and GBE 102

GBE 212 Intermediate Microeconomics (3 Credits)

Optimal economic decision making on the level of individual economic units: optimal consumer decision-making and optimal producer decision-making. In-depth study of utility analysis and costs of production.

Prerequisite: GBE 101 and GBE 102

GBE 220 Urban Economics (3 Credits)

The city as an economic organization. Urbanization trends, functional specification, and the nature of growth within the city; organization of economic activity within the city and its outlying areas, the organization of the labor market, and problems of urban poverty; the urban public economy; housing and land-use problems; transportation problems; special problems within the public sector.

Prerequisite: GBE 101 and GBE 102

GBE 303 Political Economy of Israel (3 Credits)

The unique aspects of the economy of Israel as affected by international, national, and regional political developments with reference to overall economic development, agriculture, industry, the Kibbutz, Moshav, and the private sector.

Prerequisite: GBE 101 and GBE 102

GBE 310 Monetary Theory (3 Credits)

The influence of the quantity of money on prices, growth and employment and its relation to the central banking system's control of the money supply.

Prerequisite: GBE 101 and GBE 102

GBE 311 Comparative Economic Systems (3 Credits)

How societies with differing social, political, and economic systems (e.g. China, India) have organized themselves to satisfy economic needs. Analysis of the theory and practice of capitalism, socialism, and communism.

Prerequisite: GBE 101 and GBE 102

GBE 312 History of Economic Thought (3 Credits)

The development of economic thought as related to the changing economic and intellectual environment. Emphasis is on the modern period from Adam Smith to the present, and understanding the origins of contemporary economic concepts.

Prerequisite: GBE 101 and GBE 102

GBE 315 Industrial Organization (3 Credits)

Interdependence of competitive and monopolistic tendencies. Industrial structures and their concentration and effect on economic performance, competitive markets, monopolies, oligopolies, monopolistic competition; anti-trust laws and their effectiveness.

Prerequisite: GBE 212

GBE 325 Public Finance (3 Credits)

Methods by which government generates income and expenditures. Budgets, taxation, equity, efficiency, fiscal policy, and cost-benefit analysis.

Prerequisite: GBE 101 and GBE 102

GBE 400 Topics in Applied Economics (1-4 Credits)

An application of economic analysis to current topics of interest. Issues such as international trade and finance, government regulations, inflation, and unemployment may be considered. May be repeated for credit.

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GBE 408 International Trade and Monetary Systems (3 Credits)

An intensive examination of modern theories of international commercial policy and the balance of payments mechanism within the international monetary system. Developments in trade theory, the role of international reserves and the use of exchange controls are discussed.

Prerequisite: GBE 101, GBE 102 and GBF 101

GBE 481 Independent Study in Economics (3 Credits)

Students investigate selected topics in the major areas under the direction of a faculty advisor. Independent study develops and demonstrates ability to conduct independent research, perform independent studies in a specialized area, and present the results in writing of professional quality.

Prerequisite: Permission of the department Chair

GBE 498 Internship in Economics (3 Credits)

Students with senior status may register for a 3 credit field experience with cooperating business firms in the NYC area. The internship is monitored by a supervising professor and a representative of the cooperating company. See GBA 498.

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