The Invisible Hand at Work: Microeconomic Principles (EC102S)
The noted economist, Alfred Marshall, wrote, “Economics is the study of mankind in the ordinary business of life." In this core social science course we will investigate the classic topics of microeconomic principles with an emphasis on applications to both everyday life and the global business climate. Students will learn to use the powerful tools of economic reasoning to analyze real world economic issues. Topics include: the laws of supply and demand; the behavior of firms in competitive and noncompetitive markets; the functioning of labor and capital markets; and economics of the environment.
Nancy A. Williams received her Ph.D. in natural resource economics from the University of California, Berkeley. She has been teaching microeconomics at Loyola for 25 years and was chosen as the Harry W. Rodgers Distinguished Teacher of the Year in 2003. She is the author of numerous articles on topics in applied microeconomics.
Business Statistics: It is all about the Information! (EC220S)
Statistics deals with collecting, processing and presenting information. The goal is to extract relevant information from a database that can help us make “informed” decisions. Common business applications include the impact of marketing expenses on revenue, value of a stream of investments, and forecasts of sales. Modern computing technology allows us to process large amounts of information in a matter of seconds. Consequently, information driven marketing, data mining, risk and financial management – all based on the fundamental principles of statistics – have taken advantage of this computing technology and shaped the landscape of modern business. In this course we cover the basic tools of statistics ranging from descriptive statistics to multiple regression analysis.
Prerequisite for EC220: MA151 or MA251 or equivalent. MA 151 or MA 251 may be taken concurrently with written permission of the department chair. Prerequisite for MA151: MA109 or a score of 48 or better on Part II of the Math Placement Test or one year of high school calculus. Prerequisite for MA251: MA 109 or a score of 56 or better on Part II of the Math Placement Test or one year of high school calculus. Students interested in this pairing are strongly encouraged to take the Math Placement Exam before May 30, 2014.
Srikanth Ramamurthy received his Ph.D. in Economics from Washington University, St. Louis. He has been teaching Statistics at Loyola for the past four years and was voted the Teacher of the Year within the Economics Department in the year 2012. He is an active researcher and develops statistical techniques for estimating macroeconomic models.
Jen Rowley is Associate Director, Employer Relations at The Career Center at Loyola. Jen, originally from Connecticut, joined Loyola in July 2006. Prior to moving to Baltimore, Jen received her Bachelor of Science degree in Human Development and Family Studies and her Master of Arts degree in Counseling Psychology both from the University of Connecticut. She recently received her MBA from Loyola in January 2012.