A General Education course. Overview and introduction to international economics and the theory of international trade and the effects of trade anhd trade policy on the economy. Foreign exchange markets, the balance of payments and basic policy adjustments are also introduced. 120 ECO 346 - Environmental and Resource Economics Aspects of the scarcity of renewable and nonrenewable natural resources and the management problems associated with their allocation and use are presented. The theoretical foundations for those tools of economic analysis applicable to the analysis of natural resource problems are developed with historical, real-world examples discussed.
Attention is concentrated on the policy implications of alternative resource development strategies.
Alternative approaches to development will be considered. Different cultural, material, and human resources present in individual countries will be assessed. This course is concerned with the theory and practice of monetary policy in the modern market economy, with particular reference to the U.S. economy and institutional framework. Theory and policy of revenues and expenditures in the public sector. Public sector issues are analyzed using public choice theory and cost-benefit analysis.