THE UNIVERSITY OF NORTH CAROLINA AT ASHEVILLE FACULTY SENATE Senate Document Number 2193S Date of Senate Approval 3/11/93 Signature of Senate Chair _______________________________ Date _________________ Action of Vice Chancellor: Approval ________________________________________ Date ____________________ Denied _________________________________________ Date ____________________ Reasons for denial and suggested modifications: - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Statement of Faculty Senate Action: APC Document #18 "Catalog Changes in Economics" Proposal to Drop Economics 335 Effective Date: Fall 1993 Delete: Econ 335 Managerial Economics (3) on page 92 of the 1992-93 catalog Impact statement: None on the economics department. As the course is an elective for engineering students and some management students those students would select an alternative course. In both cases enrollment impacts will be minimal as will educational consequences for the students. Rationale: This course has been offered approximately 3 times in the past 10 years. Enrollment has always been less than 10 students. At present no one in the Economics Department has expressed interest in offering the course, no other department has asked that the course be offered; no students have requested the course. In short it no longer serves a curricular purpose which can not be met by other courses, e.g., Econ 300, 335, 360, etc. Proposal to Drop ECON 430 Collective Bargaining Effective Date: Fall 1993 Delete: Econ 430 Collective Bargaining (3) on page 93 of the 1992-93 catalog Impact statement: None on the economics department. This course is an elective, taught possibly three (3) times in the past 10 years with a total enrollment of 15 students. There is no demand, little interest in the Economics Department in delivery of the course; and Management has considered a revision of this course and has the Faculty Resource Expertise to deliver a modified version of the subject matter. Rationale: This course has been offered approximately 3 times in the past 10 years. See impact statement for details. From the perspective of the Economics Program this course is not needed at the present time. Proposal to modify recommended elective: Program in Monetary Economics and Finance Effective Date: Fall 1993 ADD: Page 89 in the 1992 - 93 Catalog; Program in Monetary Economics and Finance, II. Required courses outside the major: . . . At the end of the current entry add: ACCT. 216 is recommended for students planning a career in financial institutions. Impact statement: None on the economics department. There may be a slight increase in enrollment in ACCT. 216, approximately 1 - 3 students per section. Rationale: Financial institutions expect a minimum of six (6) hours in accounting for applicants to entry level positions. Not all money and finance students attempt employment in such institutions, but most do, therefore the department feels a recommendation is appropriate. There is no pedagogical rational for requiring ACCT. 216. Advising should resolve the matter, however many students have noted during Senior Exit Interviews that they were not so advised. They reported difficulties during interviews for positions at financial institutions when they had not completed both ACCT. 215 and ACCT. 216. This approach, combined with more detailed advising, should give appropriate notice to students as they select electives and plan their career. A Proposal For Splitting The International Economics Course Into Separate International Trade and International Finance Courses Effective Date: Spring 1994 Delete: ECON 350: International Economics (3), on p. 92 of the 1992-93 Catalog. Add: i) ECON 350: International Trade (3) A survey of theory, policy and institutions pertaining to the exchange of goods and services between countries. Topics studied include the causes, the structure and the volume of international trade. Issues surrounding commercial, monetary and fiscal policies are also examined. Prerequisites: ECON 200 or 201. ii) ECON 351: International Finance (3) A survey of theory, policy and institutions pertaining to financial flows between countries. Topics studied include automatic adjustment mechanisms and the adjustment policies concerning the balance of payments. The problems of the international monetary systems and the determinants of the behavior of participants in the foreign exchange markets are also examined. Prerequisites: ECON 200 or 201. Impact Statement: i) The proposal will not affect existing offerings. It will make a significant contribution to the proposed International Studies Minor, as well as complement the proposed International Management Track in the Management Department. ii) The proposal will not affect staffing needs in the Economics Department. In the Program in Monetary Economics and Finance (p. 89 in the 1992-93 Catalog), students currently choose two courses from ECON 305, 306, 310 and 350. If the proposal is accepted, the statement on p. 89 of the 1992-93 Catalog would read as follows: Required courses in the major - 34 hours, including: ECON 200, 201, 210, 215, 300, 301, 365, 490, and either 406 or 410; two courses from ECON 305, 306, 310, 350 and 351. Rationale: Splitting the International Economics course into separate International Trade and International Finance courses strengthens the program in Monetary Economics and Finance, within the Economics Department, and contributes to the internationalization of the curriculum, which is the top priority of the Global Perspectives Task Force.