Senate Document Number 1203S

Date of Senate Approval 01/30/03

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Statement of Faculty Senate Action:

APC Document 7:   Catalog Changes in Economics

Effective Date: Fall 2003

a. Delete ECON 210

Delete: On page 96, the entry for 210 Financial Markets and Institutions (3).

Impact: The list of course alternatives will be slightly modified for some students in Economics (please see the Monetary Economics and Finance Concentration on page 95) and Management and Accountancy (please see the Financial Accounting Concentration on page 155). In Economics, the 210 option will be replaced by ECON 250 (International Economic Relations) -- please see (c) below. In Management and Accountancy the 210 option will need to be deleted.

Over the academic year the current offerings of 210, 215 (Money and Banking) and 250 will be reduced to 215 and 250. Student enrollment in 215 and 250 will increase slightly, but the recent history of both courses shows that they have room for additional students. Since, for Economics, as well as Management and Accountancy, 210 is simply one course in a list of alternatives, major completion time will not be affected.

Rationale: ECON 210 was first taught in 1981-82 and has been regularly taught since then. However, changes in curriculum over a series of years in Management and Accountancy, as well as Economics, and a decline in student interest overall have reduced the demand for 210 to the point where it now seems that departmental resources are better deployed in other areas. This, combined with the ongoing challenge of differentiating the content of 210, 215 and 305 (Private Finance), indicates that 210 is best deleted from the course offerings of Economics.

b. Change Prerequisites for ECON 305

Delete: On page 96, from the entry for 305 Private Finance, the following:

Prerequisites: ECON 102 or 210; satisfaction of the general education requirement in mathematics.

Add: In place of the deleted entry, the following:

Prerequisites: ECON 102 and satisfaction of the general education requirement in mathematics.

Impact: None.

Rationale: The change is necessitated by the deletion of ECON 210 in (a).

c. Substitute 250 for 210 in the Concentration in Monetary Economics and Finance

Delete: On page 95, under Concentration in Monetary Economics and Finance, the following:

I. Required courses in the major--34 hours, including: ECON 101, 102, 301, 302, 365, 380, 480; one course from 316, 406 or 450; 215, 306; two courses from 210, 305, 310 or 350.

Add: In place of the deleted entry, the following:

I. Required courses in the major--34 hours, including: ECON 101, 102, 301, 302, 365, 380, 480; one course from 316, 406 or 450; 215, 306; two courses from 250, 305, 310 or 350.

Impact: None.

Rationale: The change is necessitated by the deletion of ECON 210 in (a). ECON 250 provides for a more complete understanding of monetary policy in relation to global financial markets. In addition it provides excellent preparation for students who take ECON 350 (International Trade and Finance) as part of the Concentration, and is in keeping with increased internationalization of the curriculum.