This course compares neoclassical economics with a selection of heterodox economic schools of thought. Economic methodology and sociology of economic science is emphasized. The methodological framework is applied to the social systems of capitalism and socialism. Application of microeconomic theory and techniques of analysis to make managerial decisions. This class provides a practical knowledge of demand estimation, linear programming, game, theory, pricing, and capital budgeting.
Course includes learning and use of appropriate software.
This course is the capstone of the undergraduate economics experience, and it integrates the economics core. The student will select a research topic, construct a model or literary framework, and apply it to the problem. A baccalaureate test of the knowledge and proficiency in the economics core will be administered as part of student assessment.