The functions of institutions, such as commercial banks, other financial intermediaries, and the Federal Reserve System are also studied along with the monetary policies of the United States Treasury. Deals with the fundamental techniques of descriptive and inferential statistics and covers measures of central tendency and dispersion, the concepts of probability and probability distribution, sampling distributions, hypothesis testing, chi-square tests, and bivariate correlation and regression analysis. The theories and techniques of price and output. Topics include the theory and measurement of demand, production functions, cost output relationships, pricing practices in competitive and oligopolistic markets, the roles of prices and profit in resource allocation, and the functioning of a decentralized economic system. This course begins with the rudiments of model building, and after working through the Keynesian model, goes into monetary and fiscal issues.
Coverage extends into consumption and investment theories.
This course focuses on the mathematical foundations of macro and micro theory. Beginning with linear systems the course proceeds to the techniques of differential and integral calculus and concludes with a study of economic systems. Poverty is a problem confronting most of the world's societies. This course examines poverty from an economic, political, social, cultural, and psychological point of view. Special attention is given to poverty and programs to combat it in northwestern Pennsylvania.