A survey of the mathematical skills needed for upper division courses in economics and business. Emphasis is placed on the use of mathematical models to describe relationships in business and economics. Topics covered include mathematical functions, cost functions, the consumption function, systems of equations, market models, the Keynesian income determination model, matrix algebra, input-output analysis, differential and integral calculus, marginal analysis, and profit and utility maximization. 12.220 Introduction to Financial Accounting A study of financial accounting and accounting systems starting with the accounting cycle and going through the preparation and interpretation of financial statements for all types of business entities. Topics covered include generally accepted accounting principles, the theory of accounts, and the theory of present value as it relates to financial accounting problems.
Topics covered include planning, budgeting, control, and valuation.
12.220 Introduction to Financial Accounting. Money and Banking A survey of the development of money and credit, monetary theories, monetary systems and an examination of the relationship between monetary policy and economic welfare. An introduction to the process of social choice and the translation of choice into public expenditure programs. Emphasis is placed upon the application of economic analysis in the appraisal of income redistribution, health, education, defense, social insurance, and environmental programs. This course applies basic economic theory to the question of the economically defensible scope of public sector activity.