Economics BS - Curriculum
Economics BS
Economics, BS degree, typical course sequence
| Course | Sem. Cr. Hrs. | |
|---|---|---|
| First Year | ||
| ECON-100 | Foundational Seminar in Economics This course is designed to introduce new students in the economics program (freshmen and external and internal transfers) to the application of economic analysis in academia, business, government and the not-for-profit sector. Students will be exposed to the research and consulting activities undertaken by academic economists and economic practitioners as well as a discussion of the career outcomes of the alumni of the RIT economics program. (This course is restricted to ECON-BS Major students.) Seminar (Fall, Spring, Summer). |
0 |
| ECON-101 | Principles of Microeconomics (General Education) Microeconomics studies the workings of individual markets. That is, it examines the interaction of the demanders of goods and services with the suppliers of those goods and services. It explores how the behavior of consumers (demanders), the behavior of producers (suppliers), and the level of market competition influence market outcomes. Lecture 3 (Fall, Spring). |
3 |
| ECON-201 | Principles of Macroeconomics (General Education) Macroeconomics studies aggregate economic behavior. The course begins by presenting the production possibilities model. This is followed by a discussion of basic macroeconomic concepts including inflation, unemployment, and economic growth and fluctuations. The next topic is national income accounting, which is the measurement of macroeconomic variables. The latter part of the course focuses on the development of one or more macroeconomic models, a discussion of the role of money in the macroeconomy, the aggregate supply-aggregate demand framework, and other topics the individual instructor may choose. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Fall, Spring, Summer). |
3 |
| Choose one of the following: | 3 |
|
| MATH-161 | Applied Calculus (General Education – Mathematical Perspective A) This course is an introduction to the study of differential and integral calculus, including the study of functions and graphs, limits, continuity, the derivative, derivative formulas, applications of derivatives, the definite integral, the fundamental theorem of calculus, basic techniques of integral approximation, exponential and logarithmic functions, basic techniques of integration, an introduction to differential equations, and geometric series. Applications in business, management sciences, and life sciences will be included with an emphasis on manipulative skills. (Prerequisite: C- or better in MATH-101, MATH-111, MATH-131, NMTH-260, NMTH-272 or NMTH-275 or Math Placement Exam score greater than or equal to 45.) Lecture 4 (Fall, Spring). |
|
| MATH-171 | Calculus A (General Education – Mathematical Perspective A) This is the first course in a three-course sequence (COS-MATH-171, -172, -173). This course includes a study of precalculus, polynomial, rational, exponential, logarithmic and trigonometric functions, continuity, and differentiability. Limits of functions are used to study continuity and differentiability. The study of the derivative includes the definition, basic rules, and implicit differentiation. Applications of the derivative include optimization and related-rates problems. (Prerequisites: Completion of the math placement exam or C- or better in MATH-111 or C- or better in ((NMTH-260 or NMTH-272 or NMTH-275) and NMTH-220) or equivalent course.) Lecture 5 (Fall, Spring). |
|
| MATH-181 | Calculus I (General Education – Mathematical Perspective A) This is the first in a two-course sequence intended for students majoring in mathematics, science, or engineering. It emphasizes the understanding of concepts, and using them to solve physical problems. The course covers functions, limits, continuity, the derivative, rules of differentiation, applications of the derivative, Riemann sums, definite integrals, and indefinite integrals. (Prerequisites: MATH-111 or (NMTH-220 and NMTH-260 or NMTH-272 or NMTH-275) or equivalent courses with a minimum grade of B-, or a score of at least 60% on the RIT Mathematics Placement Exam.) Lecture 4 (Fall, Spring). |
|
| Choose one of the following: | ||
| MATH-172 | Calculus B (General Education – Mathematical Perspective B) This is the second course in three-course sequence (COS-MATH-171, -172, -173). The course includes Riemann sums, the Fundamental Theorem of Calculus, techniques of integration, and applications of the definite integral. The techniques of integration include substitution and integration by parts. The applications of the definite integral include areas between curves, and the calculation of volume. (Prerequisites: C- or better in MATH-171 or 1016-171T or 1016-281 or 1016-231 or equivalent course.) Lecture 5 (Fall, Spring). |
3 |
| MATH-182 | Calculus II (General Education – Mathematical Perspective B) This is the second in a two-course sequence. It emphasizes the understanding of concepts, and using them to solve physical problems. The course covers techniques of integration including integration by parts, partial fractions, improper integrals, applications of integration, representing functions by infinite series, convergence and divergence of series, parametric curves, and polar coordinates. (Prerequisites: C- or better in MATH-181 or MATH-181A or equivalent course.) Lecture 4 (Fall, Spring). |
|
| STAT-146 | Introduction to Statistics II (General Education – Mathematical Perspective B) This course is an elementary introduction to the topics of regression and analysis of variance. The statistical software package Minitab will be used to reinforce these techniques. The focus of this course is on business applications. This is a general introductory statistics course and is intended for a broad range of programs. (Prerequisites: STAT-145 or equivalent course.) Lecture 6 (Fall, Spring, Summer). |
|
| STAT-145 | Introduction to Statistics I (General Education) This course introduces statistical methods of extracting meaning from data, and basic inferential statistics. Topics covered include data and data integrity, exploratory data analysis, data visualization, numeric summary measures, the normal distribution, sampling distributions, confidence intervals, and hypothesis testing. The emphasis of the course is on statistical thinking rather than computation. Statistical software is used. (Prerequisites: Any 100 level MATH course, or NMTH-260 or NMTH-272 or NMTH-275 or (NMTH-250 with a C- or better) or a Math Placement Exam score of at least 35.) Lecture 3 (Fall, Spring, Summer). |
3 |
| YOPS-10 | RIT 365: RIT Connections RIT 365 students participate in experiential learning opportunities designed to launch them into their career at RIT, support them in making multiple and varied connections across the university, and immerse them in processes of competency development. Students will plan for and reflect on their first-year experiences, receive feedback, and develop a personal plan for future action in order to develop foundational self-awareness and recognize broad-based professional competencies. (This class is restricted to incoming 1st year or global campus students.) Lecture 1 (Fall, Spring). |
0 |
General Education – Artistic Perspective |
3 | |
General Education – Ethical Perspective |
3 | |
General Education – First-Year Writing (WI) |
3 | |
General Education – Natural Science Inquiry Perspective� |
3 | |
General Education – Elective |
3 | |
| Second Year | ||
| ECON-402 | Intermediate Macroeconomic Theory The central question of macroeconomics is the determination of output, employment, and prices. This course develops models which incorporate behavioral assumptions concerning consumption, investment, and the role of money and their relationship to macroeconomic variables. Macroeconomics, unlike microeconomics, has been in a constant state of flux during the 20th and into the 21st century. Theories which purport to explain macroeconomic behavior have come into and gone out of fashion depending upon institutional changes and external factors. This course will primarily focus on examining four macroeconomic theories; the Classical, Keynesian, Monetarist, and New Classical models. In addition, macroeconomic public policy will be analyzed in the context of recent economic history. This analysis will be extended to consider open economy macroeconomics in a global context. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and ECON-201 and (MATH-161 or MATH-171 or MATH-181 or MATH-181A) or equivalent course.) Lecture 3 (Fall or Spring). |
3 |
| ECON-403 | Econometrics I (WI-PR) (General Education) Econometrics I provides students with the opportunity to develop their skills in applied regression analysis. It covers various regression estimation techniques, data preparation and transformation, and the interpretation of regression results. There is particular emphasis on the dangers of misuse of regression techniques. The course covers regression analysis for both cross-sectional and time series data. (Prerequisites: (ECON-101 or ECON-101H) and (MATH-161 or MATH-171 or 1016-171T or MATH-181 or MATH-181A) and (STAT-145 or CQAS-251 or MATH-251 or STAT-205 or STAT-251) or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| Choose one of the following: | 3 |
|
| ECON-405 | International Trade and Finance This course first surveys the sources of comparative advantage. It then analyzes commercial policy and analyzes the welfare economics of trade between countries. Some attention is paid to the institutional aspects of the world trading system. Finally, the course introduces the student to some salient notions in international finance such as national income accounting, the balance of payments, and exchange rates. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and ECON-201 or equivalent course.) Lecture 3 (Fall or Spring). |
|
| ECON-406 | Global Economic Issues This course is focused on understanding economic problems in a global perspective. The students will study the impact of globalization on economic growth and income disparity among countries. Global economic issues such as poverty, hunger, refugees, and transnational terrorism will be studied. We will also discuss global efforts to attain progress such as the United Nations Millennium Development Goals. The course work will emphasize the analysis of international economic data. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Spring). |
|
General Education – Global Perspective |
3 | |
General Education – Immersion 1 |
3 | |
General Education – Social Perspective |
3 | |
General Education – Elective |
3 | |
Open Elective |
3 | |
Track Courses |
6 | |
| Third Year | ||
| ECON-401 | Intermediate Microeconomic Theory This course develops the tools that are commonly used to study the allocation of resources in a private enterprise economy. Topics covered include the theory of consumer behavior, cost and production, and alternate market structures. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and MATH-161 or MATH-171 or MATH-181 or MATH-181A or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| ECON-404 | Mathematical Methods: Economics Mathematical Methods: Economics provides students with an introduction to quantitative techniques used in economics such as matrix algebra, one- and multi-variable differential calculus, and unconstrained and constrained optimization. The emphasis of the instruction is on the application of these techniques to fortify and broaden a student's understanding of traditional economic topics like utility maximization, cost minimization, duality in consumer theory, expected utility, and profit maximization. (Prerequisites: ECON-101 and MATH-161 or MATH-171 or MATH-181 or MATH-181A or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| GCIS-123 | Software Development and Problem Solving I A first course introducing students to the fundamentals of computational problem solving. Students will learn a systematic approach to problem solving, including how to frame a problem in computational terms, how to decompose larger problems into smaller components, how to implement innovative software solutions using a contemporary programming language, how to critically debug their solutions, and how to assess the adequacy of the software solution. Additional topics include an introduction to object-oriented programming and data structures such as arrays and stacks. Students will complete both in-class and out-of-class assignments. Lab 6 (Fall, Spring). |
4 |
General Education – Immersion 2, 3 |
6 | |
General Education – Scientific Principles Perspective |
3 | |
General Education – Elective |
3 | |
Open Electives |
5 | |
Track Course |
3 | |
| Fourth Year | ||
| ECON-407 | Industrial Organization The study of the structure, conduct and performance of contemporary American industry. Involves the application of the tools of microeconomic analysis and empirical evidence to aid in understanding the behavior of modern industry. In addition, the course considers the historical determinants of contemporary market structure and the public policy measures designed to preserve a competitive market structure. The course concludes with an examination of alternative intellectual property rights mechanisms and how alternative mechanisms impact firm-level and economy-level innovation rates. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Fall, Spring). |
3 |
| ECON-510 | Economics Capstone Experience This course registers the student’s completion of the capstone experience required for economics majors. The requirement can be fulfilled by either presenting a class paper at an approved on-campus or off-campus research conference or submitting a solo-authored or co-authored research paper to a peer-reviewed journal. Economics students experience conducting research and presenting their findings before an audience of their peers and professionals in the field. Students are sponsored by a faculty member, developing their pre-professional skills while learning how to do research first hand. Double-majors who satisfactorily complete a capstone experience in their primary major automatically fulfill the economics capstone experience requirement. (This class is restricted to students with at least 2nd year standing in ECON-BS.) Research (Fall, Spring, Summer). |
0 |
General Education – Elective |
3 | |
Open Electives |
15 | |
Track Courses |
9 | |
| Total Semester Credit Hours | 120 |
|
Please see General Education Curriculum (GE) for more information.
(WI-PR) Refers to a writing intensive course within the major.
* Please see Wellness Education Requirement for more information. Students completing bachelor's degrees are required to complete two different Wellness courses.
† Students will satisfy this requirement by taking either a 3- or 4-credit hour lab science course. If a science course consists of separate lecture and laboratory sections, the student must take both the lecture and lab portions to satisfy the requirement.
Tracks
Economic Theory and Policy
| Course | |
|---|---|
| ECON-410 | Game Theory with Economic Applications Game theory uses a mathematical approach to study situations of strategic interdependence, i.e., situations with two or more players in which each player's decision influences payoffs of other players and players are aware of this fact when making their decisions. Game theory has been applied to understand diverse economic, political and biological phenomena. We will study how to formulate situations of strategic interdependence as game theoretic models; how to explain/predict behavior of the parties involved, through the use of various equilibrium concepts; and/or identify guidelines for appropriate behavior. The concepts and methods will be illustrated with many examples. The objective is to introduce you to language of game theory and its methodology, and to develop analytical reasoning skills. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Fall, Spring). |
Upper Division Economics Elective |
|
| Choose any combination of four of the following: | |
Upper Division Economics Elective (from approved list) |
|
Mathematics Elective (from approved list) |
|
Computing Elective (from approved list) |
|
Environmental Economics
| Course | |
|---|---|
| ECON-421 | Natural Resource Economics This course develops an economic perspective on one of the most important and challenging issues facing global society: the allocation, use, and preservation of natural resources. The course presents and discusses the methodology economists use to inform natural resource managers and policy makers. Economic thought and analysis are used to evaluate a variety of issues in this area. The course concludes with a brief discussion of the interdisciplinary aspects of natural resource management. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Fall). |
| ECON-422 | Benefit-Cost Analysis Benefit-Cost Analysis fosters better understanding of the efficiency consequences of governmental micro-economic actions, both regulatory and fiscal. The course explores the logic, value and limitations of benefit-cost analysis as a public policy tool commonly used, and misused, in comparing the relative merits of alternative government actions. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Spring). |
| ECON-520 | Environmental Economics This course examines the relationship and apparent conflict between economic growth and environmental quality, the economics of environmental issues and policy, the environment as a resource and a public good, and the ability and lack of ability of free markets and the government to deal adequately with pollution and other environmental problems. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Spring). |
Upper Division Economics Elective or Computing Elective or Mathematics Elective (from approved lists) |
|
Two Environmental Electives (from approved list) |
|
Managerial Economics
| Course | |
|---|---|
| ACCT-110 | Financial Accounting An introduction to the way in which corporations report their financial performance to interested stakeholders such as investors and creditors. Coverage of the accounting cycle, generally accepted accounting principles, and analytical tools help students become informed users of financial statements. (This course is available to RIT degree-seeking undergraduate students.) Lecture 3 (Fall, Spring, Summer). |
| ECON-410 | Game Theory with Economic Applications Game theory uses a mathematical approach to study situations of strategic interdependence, i.e., situations with two or more players in which each player's decision influences payoffs of other players and players are aware of this fact when making their decisions. Game theory has been applied to understand diverse economic, political and biological phenomena. We will study how to formulate situations of strategic interdependence as game theoretic models; how to explain/predict behavior of the parties involved, through the use of various equilibrium concepts; and/or identify guidelines for appropriate behavior. The concepts and methods will be illustrated with many examples. The objective is to introduce you to language of game theory and its methodology, and to develop analytical reasoning skills. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Fall, Spring). |
| ECON-430 | Managerial Economics Managerial Economics involves the application of economic theory to business decision-making. Most of the emphasis is microeconomic in nature, the theory of the firm and consumer theory, but there is some macroeconomic influence, particularly in the forecasting area. Since this is an applied economics course, it has a strong quantitative flavor. (Prerequisites: (ECON-101 or completion of one (1) 400 or 500 level ECON course) and ECON-201 or equivalent course.) Lecture 3 (Fall). |
| Choose one of the following: | |
| FINC-220 | Financial Management Basic course in financial management. Covers business organization, time value of money, valuation of securities, capital budgeting decision rules, risk-return relation, Capital Asset Pricing Model, financial ratios, global finance, and working capital management. (Prerequisites: (ECON-101 or ECON-201) and ACCT-110 and (STAT-145 or STAT-251 or CQAS-251 or MATH-251 or MATH-252 or STAT-205) or equivalent courses.) Lecture 3 (Fall, Spring, Summer). |
| ECON-431 | Monetary Analysis and Policy This course is a study of monetary behavior and the role of monetary institutions in the modern economy. The primary focus of the course is upon understanding how money plays a role in individual decision making units (i.e., households and businesses) and ultimately affects the macroeconomy (e.g., output, employment and inflation). The first part of the course begins with a discussion of economic methodology including introduction to regression analysis and an overview of money and the financial system; the course then proceeds to a discussion of interest rates, portfolio analysis and exchange rates. The second part of the course considers how money affects the macroeconomy by discussing the money supply process and considering theories which explain how changes in the money supply affect the economy. (Prerequisites: (ECON-101 or completion of one (1) 400 or 500 level ECON course) and ECON-201 or equivalent course.) Lecture 3 (Biannual). |
| ECON-433 | Financial Economics The main objective of the course is to analyze financial decision-making and the role of the financial sector in modern life. The course explores economic theory and modeling of asset pricing, risk management, and digital currency (cryptocurrency). The course examines the history of financial institutions and regulations in an economy and the important roles they have in promoting economic stability and growth. (Prerequisites: ECON-101 and ECON-201 and (MATH-161 or MATH-171 or MATH-181 or MATH-181A) or equivalent courses.) Lecture 3 (Fall). |
| Choose one of the following: | |
| ECON-405 | International Trade and Finance This course first surveys the sources of comparative advantage. It then analyzes commercial policy and analyzes the welfare economics of trade between countries. Some attention is paid to the institutional aspects of the world trading system. Finally, the course introduces the student to some salient notions in international finance such as national income accounting, the balance of payments, and exchange rates. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and ECON-201 or equivalent course.) Lecture 3 (Fall or Spring). |
| ECON-406 | Global Economic Issues This course is focused on understanding economic problems in a global perspective. The students will study the impact of globalization on economic growth and income disparity among countries. Global economic issues such as poverty, hunger, refugees, and transnational terrorism will be studied. We will also discuss global efforts to attain progress such as the United Nations Millennium Development Goals. The course work will emphasize the analysis of international economic data. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Spring). |
Upper Division Economics Elective or Computing Elective or Mathematics Elective (from approved lists) |
|
Combined Accelerated Bachelor's/Master's Degrees
The curriculum below outlines the typical course sequence(s) for combined accelerated degrees available with this bachelor's degree.
Economics, BS degree/Sustainable Systems, MS degree, typical course sequence
| Course | Sem. Cr. Hrs. | |
|---|---|---|
| First Year | ||
| ECON-100 | Foundational Seminar in Economics This course is designed to introduce new students in the economics program (freshmen and external and internal transfers) to the application of economic analysis in academia, business, government and the not-for-profit sector. Students will be exposed to the research and consulting activities undertaken by academic economists and economic practitioners as well as a discussion of the career outcomes of the alumni of the RIT economics program. (This course is restricted to ECON-BS Major students.) Seminar (Fall, Spring, Summer). |
0 |
| ECON-101 | Principles of Microeconomics (General Education) Microeconomics studies the workings of individual markets. That is, it examines the interaction of the demanders of goods and services with the suppliers of those goods and services. It explores how the behavior of consumers (demanders), the behavior of producers (suppliers), and the level of market competition influence market outcomes. Lecture 3 (Fall, Spring). |
3 |
| ECON-201 | Principles of Macroeconomics (General Education) Macroeconomics studies aggregate economic behavior. The course begins by presenting the production possibilities model. This is followed by a discussion of basic macroeconomic concepts including inflation, unemployment, and economic growth and fluctuations. The next topic is national income accounting, which is the measurement of macroeconomic variables. The latter part of the course focuses on the development of one or more macroeconomic models, a discussion of the role of money in the macroeconomy, the aggregate supply-aggregate demand framework, and other topics the individual instructor may choose. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Fall, Spring, Summer). |
3 |
| Choose one of the following: | 3 |
|
| MATH-161 | Applied Calculus I (General Education – Mathematical Perspective A) This course is an introduction to the study of differential and integral calculus, including the study of functions and graphs, limits, continuity, the derivative, derivative formulas, applications of derivatives, the definite integral, the fundamental theorem of calculus, basic techniques of integral approximation, exponential and logarithmic functions, basic techniques of integration, an introduction to differential equations, and geometric series. Applications in business, management sciences, and life sciences will be included with an emphasis on manipulative skills. (Prerequisite: C- or better in MATH-101, MATH-111, MATH-131, NMTH-260, NMTH-272 or NMTH-275 or Math Placement Exam score greater than or equal to 45.) Lecture 4 (Fall, Spring). |
|
| MATH-171 | Calculus A (General Education – Mathematical Perspective A) This is the first course in a three-course sequence (COS-MATH-171, -172, -173). This course includes a study of precalculus, polynomial, rational, exponential, logarithmic and trigonometric functions, continuity, and differentiability. Limits of functions are used to study continuity and differentiability. The study of the derivative includes the definition, basic rules, and implicit differentiation. Applications of the derivative include optimization and related-rates problems. (Prerequisites: Completion of the math placement exam or C- or better in MATH-111 or C- or better in ((NMTH-260 or NMTH-272 or NMTH-275) and NMTH-220) or equivalent course.) Lecture 5 (Fall, Spring). |
|
| MATH-181 | Calculus I (General Education – Mathematical Perspective A) This is the first in a two-course sequence intended for students majoring in mathematics, science, or engineering. It emphasizes the understanding of concepts, and using them to solve physical problems. The course covers functions, limits, continuity, the derivative, rules of differentiation, applications of the derivative, Riemann sums, definite integrals, and indefinite integrals. (Prerequisites: MATH-111 or (NMTH-220 and NMTH-260 or NMTH-272 or NMTH-275) or equivalent courses with a minimum grade of B-, or a score of at least 60% on the RIT Mathematics Placement Exam.) Lecture 4 (Fall, Spring). |
|
| Choose one of the following: | 3 |
|
| MATH-172 | Calculus B (General Education – Mathematical Perspective B) This is the second course in three-course sequence (COS-MATH-171, -172, -173). The course includes Riemann sums, the Fundamental Theorem of Calculus, techniques of integration, and applications of the definite integral. The techniques of integration include substitution and integration by parts. The applications of the definite integral include areas between curves, and the calculation of volume. (Prerequisites: C- or better in MATH-171 or 1016-171T or 1016-281 or 1016-231 or equivalent course.) Lecture 5 (Fall, Spring). |
|
| MATH-182 | Calculus II (General Education – Mathematical Perspective B) This is the second in a two-course sequence. It emphasizes the understanding of concepts, and using them to solve physical problems. The course covers techniques of integration including integration by parts, partial fractions, improper integrals, applications of integration, representing functions by infinite series, convergence and divergence of series, parametric curves, and polar coordinates. (Prerequisites: C- or better in MATH-181 or MATH-181A or equivalent course.) Lecture 4 (Fall, Spring). |
|
| STAT-146 | Introduction to Statistics II (General Education – Mathematical Perspective B) This course is an elementary introduction to the topics of regression and analysis of variance. The statistical software package Minitab will be used to reinforce these techniques. The focus of this course is on business applications. This is a general introductory statistics course and is intended for a broad range of programs. (Prerequisites: STAT-145 or equivalent course.) Lecture 6 (Fall, Spring, Summer). |
|
| STAT-145 | Introduction to Statistics I (General Education) This course introduces statistical methods of extracting meaning from data, and basic inferential statistics. Topics covered include data and data integrity, exploratory data analysis, data visualization, numeric summary measures, the normal distribution, sampling distributions, confidence intervals, and hypothesis testing. The emphasis of the course is on statistical thinking rather than computation. Statistical software is used. (Prerequisites: Any 100 level MATH course, or NMTH-260 or NMTH-272 or NMTH-275 or (NMTH-250 with a C- or better) or a Math Placement Exam score of at least 35.) Lecture 3 (Fall, Spring, Summer). |
3 |
| YOPS-10 | RIT 365: RIT Connections RIT 365 students participate in experiential learning opportunities designed to launch them into their career at RIT, support them in making multiple and varied connections across the university, and immerse them in processes of competency development. Students will plan for and reflect on their first-year experiences, receive feedback, and develop a personal plan for future action in order to develop foundational self-awareness and recognize broad-based professional competencies. (This class is restricted to incoming 1st year or global campus students.) Lecture 1 (Fall, Spring). |
0 |
General Education – Artistic Perspective |
3 | |
General Education – Ethical Perspective |
3 | |
General Education – First-Year Writing (WI) |
3 | |
General Education – Natural Science Inquiry Perspective� |
3 | |
General Education – Elective |
3 | |
| Second Year | ||
| ECON-402 | Intermediate Macroeconomic Theory The central question of macroeconomics is the determination of output, employment, and prices. This course develops models which incorporate behavioral assumptions concerning consumption, investment, and the role of money and their relationship to macroeconomic variables. Macroeconomics, unlike microeconomics, has been in a constant state of flux during the 20th and into the 21st century. Theories which purport to explain macroeconomic behavior have come into and gone out of fashion depending upon institutional changes and external factors. This course will primarily focus on examining four macroeconomic theories; the Classical, Keynesian, Monetarist, and New Classical models. In addition, macroeconomic public policy will be analyzed in the context of recent economic history. This analysis will be extended to consider open economy macroeconomics in a global context. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and ECON-201 and (MATH-161 or MATH-171 or MATH-181 or MATH-181A) or equivalent course.) Lecture 3 (Fall or Spring). |
3 |
| ECON-403 | Econometrics I (WI-PR) (General Education) Econometrics I provides students with the opportunity to develop their skills in applied regression analysis. It covers various regression estimation techniques, data preparation and transformation, and the interpretation of regression results. There is particular emphasis on the dangers of misuse of regression techniques. The course covers regression analysis for both cross-sectional and time series data. (Prerequisites: (ECON-101 or ECON-101H) and (MATH-161 or MATH-171 or 1016-171T or MATH-181 or MATH-181A) and (STAT-145 or CQAS-251 or MATH-251 or STAT-205 or STAT-251) or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| Choose one of the following: | 3 |
|
| ECON-405 | International Trade and Finance This course first surveys the sources of comparative advantage. It then analyzes commercial policy and analyzes the welfare economics of trade between countries. Some attention is paid to the institutional aspects of the world trading system. Finally, the course introduces the student to some salient notions in international finance such as national income accounting, the balance of payments, and exchange rates. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and ECON-201 or equivalent course.) Lecture 3 (Fall or Spring). |
|
| ECON-406 | Global Economic Issues This course is focused on understanding economic problems in a global perspective. The students will study the impact of globalization on economic growth and income disparity among countries. Global economic issues such as poverty, hunger, refugees, and transnational terrorism will be studied. We will also discuss global efforts to attain progress such as the United Nations Millennium Development Goals. The course work will emphasize the analysis of international economic data. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Spring). |
|
General Education – Global Perspective |
3 | |
General Education – Immersion 1 |
3 | |
General Education – Social Perspective |
3 | |
General Education – Elective |
3 | |
Open Elective |
3 | |
Track Courses |
6 | |
| Third Year | ||
| ECON-401 | Intermediate Microeconomic Theory This course develops the tools that are commonly used to study the allocation of resources in a private enterprise economy. Topics covered include the theory of consumer behavior, cost and production, and alternate market structures. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and MATH-161 or MATH-171 or MATH-181 or MATH-181A or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| ECON-404 | Mathematical Methods: Economics Mathematical Methods: Economics provides students with an introduction to quantitative techniques used in economics such as matrix algebra, one- and multi-variable differential calculus, and unconstrained and constrained optimization. The emphasis of the instruction is on the application of these techniques to fortify and broaden a student's understanding of traditional economic topics like utility maximization, cost minimization, duality in consumer theory, expected utility, and profit maximization. (Prerequisites: ECON-101 and MATH-161 or MATH-171 or MATH-181 or MATH-181A or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| GCIS-123 | Software Development and Problem Solving I A first course introducing students to the fundamentals of computational problem solving. Students will learn a systematic approach to problem solving, including how to frame a problem in computational terms, how to decompose larger problems into smaller components, how to implement innovative software solutions using a contemporary programming language, how to critically debug their solutions, and how to assess the adequacy of the software solution. Additional topics include an introduction to object-oriented programming and data structures such as arrays and stacks. Students will complete both in-class and out-of-class assignments. Lab 6 (Fall, Spring). |
4 |
General Education – Immersion 2, 3 |
6 | |
General Education – Scientific Principles Perspective |
3 | |
General Education – Elective |
3 | |
Open Electives |
5 | |
Track Course |
3 | |
| Fourth Year | ||
| ECON-407 | Industrial Organization The study of the structure, conduct and performance of contemporary American industry. Involves the application of the tools of microeconomic analysis and empirical evidence to aid in understanding the behavior of modern industry. In addition, the course considers the historical determinants of contemporary market structure and the public policy measures designed to preserve a competitive market structure. The course concludes with an examination of alternative intellectual property rights mechanisms and how alternative mechanisms impact firm-level and economy-level innovation rates. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Fall, Spring). |
3 |
| ECON-510 | Economics Capstone Experience This course registers the student’s completion of the capstone experience required for economics majors. The requirement can be fulfilled by either presenting a class paper at an approved on-campus or off-campus research conference or submitting a solo-authored or co-authored research paper to a peer-reviewed journal. Economics students experience conducting research and presenting their findings before an audience of their peers and professionals in the field. Students are sponsored by a faculty member, developing their pre-professional skills while learning how to do research first hand. Double-majors who satisfactorily complete a capstone experience in their primary major automatically fulfill the economics capstone experience requirement. (This class is restricted to students with at least 2nd year standing in ECON-BS.) Research (Fall, Spring, Summer). |
0 |
| Choose one of the following: | 3 |
|
| ISUS-702 | Fundamentals of Sustainability Science This course prepares students to understand grand challenges in sustainability, conduct original research related to sustainable production and consumption systems, and apply the scientific method in an integrative, team-based approach to graduate research. This course introduces fundamental concepts that are essential to understanding the interaction of economic, environmental, and social systems. Successful students will understand multiple perspectives on sustainability, the importance of sustainability as an ethical concept, behavioral impacts to sustainable solutions, and a life-cycle approach to organizing research related to sustainability. It is a core course within the Sustainability program. (This class is restricted to students in the SUSTSY-MS and SUST-PHD programs.) Lecture 3 (Fall). |
|
| ISUS-706 | Economics of Sustainable Systems The goal of this course is to introduce students to economic concepts and analysis pertaining to sustainable systems. This course offers a nontechnical but rigorous introduction to microeconomic theory, engineering economics, and benefit-cost analysis. A thorough treatment of models relevant to each topic is provided. The over-arching goal is for students to gain an understanding of the logic of economic reasoning and analysis as it pertains to the study of sustainable systems. (This class is restricted to students in the SUSTSY-MS and SUST-PHD programs.) Lecture 3 (Fall). |
|
| ISUS-806 | Risk Analysis The goal of this course is to introduce students to economic concepts and analysis pertaining to sustainable systems. This course offers a nontechnical but rigorous introduction to microeconomic theory, engineering economics, and benefit-cost analysis. A thorough treatment of models relevant to each topic is provided. The over-arching goal is for students to gain an understanding of the logic of economic reasoning and analysis as it pertains to the study of sustainable systems. (This class is restricted to students in the SUSTSY-MS and SUST-PHD programs.) Lecture 3 (Fall). |
|
| Choose one of the following: | 3 |
|
| ISUS-704 | Industrial Ecology Industrial ecology is the study of the interaction between industrial and ecological systems. Students in this course learn to assess the impact and interrelations of production systems on the natural environment by mastering fundamental concepts of ecology as a metaphor for industrial systems and the resultant tools from industrial ecology, including life cycle assessment, material flow analysis, and energy and greenhouse gas accounting. This is a core course within the Sustainability Ph.D. program. (This class is restricted to students in the SUSTSY-MS and SUST-PHD programs.) Lecture 3 (Fall). |
|
| ISUS-808 | Multicriteria Sustainable Systems This class will explore how decisions are made when confronted with multiple, often conflicting, criteria or constraints. The focus will be on the following analytical methods: linear and stochastic programming, optimization, and Monte Carlo simulation. Case studies will focus on sustainability multi-criteria problems such as energy planning, sustainable development, resource management, and recycling. Students will apply methods learned to a project involving their graduate research. (This class is restricted to students in the SUSTSY-MS and SUST-PHD programs.) Lecture 3 (Spring). |
|
| PUBL-810 | Technology, Policy and Sustainability (or approved substitute) This course introduces students to public policy and its role in building a sustainable society. The course places particular emphasis on the policy process; the relationship among technology, policy, and the environment; and policy mechanisms for addressing market and government failures that threaten sustainability. Lecture 3 (Fall, Spring). |
|
General Education – Elective |
3 | |
Open Electives |
15 | |
Track Course |
3 | |
| Fifth Year | ||
| Choose two of the following: | 6 |
|
| ISUS-702 | Fundamentals of Sustainability Science This course prepares students to understand grand challenges in sustainability, conduct original research related to sustainable production and consumption systems, and apply the scientific method in an integrative, team-based approach to graduate research. This course introduces fundamental concepts that are essential to understanding the interaction of economic, environmental, and social systems. Successful students will understand multiple perspectives on sustainability, the importance of sustainability as an ethical concept, behavioral impacts to sustainable solutions, and a life-cycle approach to organizing research related to sustainability. It is a core course within the Sustainability program. (This class is restricted to students in the SUSTSY-MS and SUST-PHD programs.) Lecture 3 (Fall). |
|
| ISUS-706 | Economics of Sustainable Systems The goal of this course is to introduce students to economic concepts and analysis pertaining to sustainable systems. This course offers a nontechnical but rigorous introduction to microeconomic theory, engineering economics, and benefit-cost analysis. A thorough treatment of models relevant to each topic is provided. The over-arching goal is for students to gain an understanding of the logic of economic reasoning and analysis as it pertains to the study of sustainable systems. (This class is restricted to students in the SUSTSY-MS and SUST-PHD programs.) Lecture 3 (Fall). |
|
| ISUS-806 | Risk Analysis The goal of this course is to introduce students to economic concepts and analysis pertaining to sustainable systems. This course offers a nontechnical but rigorous introduction to microeconomic theory, engineering economics, and benefit-cost analysis. A thorough treatment of models relevant to each topic is provided. The over-arching goal is for students to gain an understanding of the logic of economic reasoning and analysis as it pertains to the study of sustainable systems. (This class is restricted to students in the SUSTSY-MS and SUST-PHD programs.) Lecture 3 (Fall). |
|
| Choose two of the following: | 6 |
|
| ISUS-704 | Industrial Ecology Industrial ecology is the study of the interaction between industrial and ecological systems. Students in this course learn to assess the impact and interrelations of production systems on the natural environment by mastering fundamental concepts of ecology as a metaphor for industrial systems and the resultant tools from industrial ecology, including life cycle assessment, material flow analysis, and energy and greenhouse gas accounting. This is a core course within the Sustainability Ph.D. program. (This class is restricted to students in the SUSTSY-MS and SUST-PHD programs.) Lecture 3 (Fall). |
|
| ISUS-808 | Multicriteria Sustainable Systems This class will explore how decisions are made when confronted with multiple, often conflicting, criteria or constraints. The focus will be on the following analytical methods: linear and stochastic programming, optimization, and Monte Carlo simulation. Case studies will focus on sustainability multi-criteria problems such as energy planning, sustainable development, resource management, and recycling. Students will apply methods learned to a project involving their graduate research. (This class is restricted to students in the SUSTSY-MS and SUST-PHD programs.) Lecture 3 (Spring). |
|
| PUBL-810 | Technology, Policy and Sustainability (or approved substitute) This course introduces students to public policy and its role in building a sustainable society. The course places particular emphasis on the policy process; the relationship among technology, policy, and the environment; and policy mechanisms for addressing market and government failures that threaten sustainability. Lecture 3 (Fall, Spring). |
|
| Choose one of the following: | 6 |
|
| ISUS-780 | Capstone An independent project in sustainability serving as a capstone experience for students completing the non-thesis option. This course requires a formal proposal and a faculty sponsor. Lecture (Fall, Spring, Summer). |
|
| ISUS-790 | Thesis Independent research in sustainability leading to the completion of the MS thesis. This course requires a formal proposal and a faculty sponsor. Thesis (Fall, Spring, Summer). |
|
Approved Sustainability Electives |
6 | |
| Total Semester Credit Hours | 144 |
|
Please see General Education Curriculum (GE) for more information.
(WI-PR) Refers to a writing intensive course within the major.
* Please see Wellness Education Requirement for more information. Students completing bachelor's degrees are required to complete two different Wellness courses.
† Students will satisfy this requirement by taking either a 3- or 4-credit hour lab science course. If a science course consists of separate lecture and laboratory sections, the student must take both the lecture and lab portions to satisfy the requirement.
Economics, BS degree/Science, Technology and Public Policy, MS degree, typical course sequence
| Course | Sem. Cr. Hrs. | |
|---|---|---|
| First Year | ||
| ECON-100 | Foundational Seminar in Economics This course is designed to introduce new students in the economics program (freshmen and external and internal transfers) to the application of economic analysis in academia, business, government and the not-for-profit sector. Students will be exposed to the research and consulting activities undertaken by academic economists and economic practitioners as well as a discussion of the career outcomes of the alumni of the RIT economics program. (This course is restricted to ECON-BS Major students.) Seminar (Fall, Spring, Summer). |
0 |
| ECON-101 | Principles of Microeconomics (General Education) Microeconomics studies the workings of individual markets. That is, it examines the interaction of the demanders of goods and services with the suppliers of those goods and services. It explores how the behavior of consumers (demanders), the behavior of producers (suppliers), and the level of market competition influence market outcomes. Lecture 3 (Fall, Spring). |
3 |
| ECON-201 | Principles of Macroeconomics (General Education) Macroeconomics studies aggregate economic behavior. The course begins by presenting the production possibilities model. This is followed by a discussion of basic macroeconomic concepts including inflation, unemployment, and economic growth and fluctuations. The next topic is national income accounting, which is the measurement of macroeconomic variables. The latter part of the course focuses on the development of one or more macroeconomic models, a discussion of the role of money in the macroeconomy, the aggregate supply-aggregate demand framework, and other topics the individual instructor may choose. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Fall, Spring, Summer). |
3 |
| Choose one of the following: | 3 |
|
| MATH-161 | Applied Calculus (General Education – Mathematical Perspective A) This course is an introduction to the study of differential and integral calculus, including the study of functions and graphs, limits, continuity, the derivative, derivative formulas, applications of derivatives, the definite integral, the fundamental theorem of calculus, basic techniques of integral approximation, exponential and logarithmic functions, basic techniques of integration, an introduction to differential equations, and geometric series. Applications in business, management sciences, and life sciences will be included with an emphasis on manipulative skills. (Prerequisite: C- or better in MATH-101, MATH-111, MATH-131, NMTH-260, NMTH-272 or NMTH-275 or Math Placement Exam score greater than or equal to 45.) Lecture 4 (Fall, Spring). |
|
| MATH-171 | Calculus A (General Education – Mathematical Perspective A) This is the first course in a three-course sequence (COS-MATH-171, -172, -173). This course includes a study of precalculus, polynomial, rational, exponential, logarithmic and trigonometric functions, continuity, and differentiability. Limits of functions are used to study continuity and differentiability. The study of the derivative includes the definition, basic rules, and implicit differentiation. Applications of the derivative include optimization and related-rates problems. (Prerequisites: Completion of the math placement exam or C- or better in MATH-111 or C- or better in ((NMTH-260 or NMTH-272 or NMTH-275) and NMTH-220) or equivalent course.) Lecture 5 (Fall, Spring). |
|
| MATH-181 | Calculus I (General Education – Mathematical Perspective A) This is the first in a two-course sequence intended for students majoring in mathematics, science, or engineering. It emphasizes the understanding of concepts, and using them to solve physical problems. The course covers functions, limits, continuity, the derivative, rules of differentiation, applications of the derivative, Riemann sums, definite integrals, and indefinite integrals. (Prerequisites: MATH-111 or (NMTH-220 and NMTH-260 or NMTH-272 or NMTH-275) or equivalent courses with a minimum grade of B-, or a score of at least 60% on the RIT Mathematics Placement Exam.) Lecture 4 (Fall, Spring). |
|
| Choose one of the following: | 3 |
|
| MATH-172 | Calculus B (General Education – Mathematical Perspective B) This is the second course in three-course sequence (COS-MATH-171, -172, -173). The course includes Riemann sums, the Fundamental Theorem of Calculus, techniques of integration, and applications of the definite integral. The techniques of integration include substitution and integration by parts. The applications of the definite integral include areas between curves, and the calculation of volume. (Prerequisites: C- or better in MATH-171 or 1016-171T or 1016-281 or 1016-231 or equivalent course.) Lecture 5 (Fall, Spring). |
|
| MATH-182 | Calculus II (General Education – Mathematical Perspective B) This is the second in a two-course sequence. It emphasizes the understanding of concepts, and using them to solve physical problems. The course covers techniques of integration including integration by parts, partial fractions, improper integrals, applications of integration, representing functions by infinite series, convergence and divergence of series, parametric curves, and polar coordinates. (Prerequisites: C- or better in MATH-181 or MATH-181A or equivalent course.) Lecture 4 (Fall, Spring). |
|
| STAT-146 | Introduction to Statistics II (General Education – Mathematical Perspective B) This course is an elementary introduction to the topics of regression and analysis of variance. The statistical software package Minitab will be used to reinforce these techniques. The focus of this course is on business applications. This is a general introductory statistics course and is intended for a broad range of programs. (Prerequisites: STAT-145 or equivalent course.) Lecture 6 (Fall, Spring, Summer). |
|
| STAT-145 | Introduction to Statistics I (General Education – Elective) This course introduces statistical methods of extracting meaning from data, and basic inferential statistics. Topics covered include data and data integrity, exploratory data analysis, data visualization, numeric summary measures, the normal distribution, sampling distributions, confidence intervals, and hypothesis testing. The emphasis of the course is on statistical thinking rather than computation. Statistical software is used. (Prerequisites: Any 100 level MATH course, or NMTH-260 or NMTH-272 or NMTH-275 or (NMTH-250 with a C- or better) or a Math Placement Exam score of at least 35.) Lecture 3 (Fall, Spring, Summer). |
3 |
| YOPS-10 | RIT 365: RIT Connections RIT 365 students participate in experiential learning opportunities designed to launch them into their career at RIT, support them in making multiple and varied connections across the university, and immerse them in processes of competency development. Students will plan for and reflect on their first-year experiences, receive feedback, and develop a personal plan for future action in order to develop foundational self-awareness and recognize broad-based professional competencies. (This class is restricted to incoming 1st year or global campus students.) Lecture 1 (Fall, Spring). |
0 |
General Education – Artistic Perspective |
3 | |
General Education – Ethical Perspective |
3 | |
General Education – First-Year Writing (WI) |
3 | |
General Education – Natural Science Inquiry Perspective� |
3 | |
General Education – Elective |
3 | |
| Second Year | ||
| ECON-402 | Intermediate Macroeconomic Theory The central question of macroeconomics is the determination of output, employment, and prices. This course develops models which incorporate behavioral assumptions concerning consumption, investment, and the role of money and their relationship to macroeconomic variables. Macroeconomics, unlike microeconomics, has been in a constant state of flux during the 20th and into the 21st century. Theories which purport to explain macroeconomic behavior have come into and gone out of fashion depending upon institutional changes and external factors. This course will primarily focus on examining four macroeconomic theories; the Classical, Keynesian, Monetarist, and New Classical models. In addition, macroeconomic public policy will be analyzed in the context of recent economic history. This analysis will be extended to consider open economy macroeconomics in a global context. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and ECON-201 and (MATH-161 or MATH-171 or MATH-181 or MATH-181A) or equivalent course.) Lecture 3 (Fall or Spring). |
3 |
| ECON-403 | Econometrics I (WI-PR) (General Education) Econometrics I provides students with the opportunity to develop their skills in applied regression analysis. It covers various regression estimation techniques, data preparation and transformation, and the interpretation of regression results. There is particular emphasis on the dangers of misuse of regression techniques. The course covers regression analysis for both cross-sectional and time series data. (Prerequisites: (ECON-101 or ECON-101H) and (MATH-161 or MATH-171 or 1016-171T or MATH-181 or MATH-181A) and (STAT-145 or CQAS-251 or MATH-251 or STAT-205 or STAT-251) or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| Choose one of the following: | 3 |
|
| ECON-405 | International Trade and Finance This course first surveys the sources of comparative advantage. It then analyzes commercial policy and analyzes the welfare economics of trade between countries. Some attention is paid to the institutional aspects of the world trading system. Finally, the course introduces the student to some salient notions in international finance such as national income accounting, the balance of payments, and exchange rates. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and ECON-201 or equivalent course.) Lecture 3 (Fall or Spring). |
|
| ECON-406 | Global Economic Issues This course is focused on understanding economic problems in a global perspective. The students will study the impact of globalization on economic growth and income disparity among countries. Global economic issues such as poverty, hunger, refugees, and transnational terrorism will be studied. We will also discuss global efforts to attain progress such as the United Nations Millennium Development Goals. The course work will emphasize the analysis of international economic data. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Spring). |
|
General Education – Global Perspective |
3 | |
General Education – Immersion 1 |
3 | |
General Education – Social Perspective |
3 | |
General Education – Elective |
3 | |
Open Elective |
3 | |
Track Courses |
6 | |
| Third Year | ||
| ECON-401 | Intermediate Microeconomic Theory This course develops the tools that are commonly used to study the allocation of resources in a private enterprise economy. Topics covered include the theory of consumer behavior, cost and production, and alternate market structures. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and MATH-161 or MATH-171 or MATH-181 or MATH-181A or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| ECON-404 | Mathematical Methods: Economics Mathematical Methods: Economics provides students with an introduction to quantitative techniques used in economics such as matrix algebra, one- and multi-variable differential calculus, and unconstrained and constrained optimization. The emphasis of the instruction is on the application of these techniques to fortify and broaden a student's understanding of traditional economic topics like utility maximization, cost minimization, duality in consumer theory, expected utility, and profit maximization. (Prerequisites: ECON-101 and MATH-161 or MATH-171 or MATH-181 or MATH-181A or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| GCIS-123 | Software Development and Problem Solving I A first course introducing students to the fundamentals of computational problem solving. Students will learn a systematic approach to problem solving, including how to frame a problem in computational terms, how to decompose larger problems into smaller components, how to implement innovative software solutions using a contemporary programming language, how to critically debug their solutions, and how to assess the adequacy of the software solution. Additional topics include an introduction to object-oriented programming and data structures such as arrays and stacks. Students will complete both in-class and out-of-class assignments. Lab 6 (Fall, Spring). |
4 |
General Education – Immersion 2, 3 |
6 | |
General Education – Scientific Principles Perspective |
3 | |
General Education – Elective |
3 | |
Open Electives |
5 | |
Track Course |
3 | |
| Fourth Year | ||
| ECON-407 | Industrial Organization The study of the structure, conduct and performance of contemporary American industry. Involves the application of the tools of microeconomic analysis and empirical evidence to aid in understanding the behavior of modern industry. In addition, the course considers the historical determinants of contemporary market structure and the public policy measures designed to preserve a competitive market structure. The course concludes with an examination of alternative intellectual property rights mechanisms and how alternative mechanisms impact firm-level and economy-level innovation rates. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Fall, Spring). |
3 |
| ECON-510 | Economics Capstone Experience This course registers the student’s completion of the capstone experience required for economics majors. The requirement can be fulfilled by either presenting a class paper at an approved on-campus or off-campus research conference or submitting a solo-authored or co-authored research paper to a peer-reviewed journal. Economics students experience conducting research and presenting their findings before an audience of their peers and professionals in the field. Students are sponsored by a faculty member, developing their pre-professional skills while learning how to do research first hand. Double-majors who satisfactorily complete a capstone experience in their primary major automatically fulfill the economics capstone experience requirement. (This class is restricted to students with at least 2nd year standing in ECON-BS.) Research (Fall, Spring, Summer). |
0 |
| PUBL-701 | Graduate Policy Analysis This course provides graduate students with necessary tools to help them become effective policy analysts. The course places particular emphasis on understanding the policy process, the different approaches to policy analysis, and the application of quantitative and qualitative methods for evaluating public policies. Students will apply these tools to contemporary public policy decision making at the local, state, federal, and international levels. Lecture 3 (Fall). |
3 |
| PUBL-702 | Graduate Decision Analysis This course provides students with an introduction to decision science and analysis. The course focuses on several important tools for making good decisions, including decision trees, including forecasting, risk analysis, and multi-attribute decision making. Students will apply these tools to contemporary public policy decision making at the local, state, federal, and international levels. Lecture 3 (Spring). |
3 |
General Education – Elective |
3 | |
Open Electives |
15 | |
Track Course |
3 | |
| Fifth Year | ||
| PUBL-700 | Readings in Public Policy An in-depth inquiry into key contemporary public policy issues. Students will be exposed to a wide range of important public policy texts, and will learn how to write a literature review in a policy area of their choosing. (This class is restricted to degree-seeking graduate students or those with permission from instructor.) Seminar (Fall). |
3 |
| PUBL-703 | Program Evaluation and Research Design The focus of this course is on evaluation of program outcomes and research design. Students will explore the questions and methodologies associated with meeting programmatic outcomes, secondary or unanticipated effects, and an analysis of alternative means for achieving program outcomes. Critique of evaluation research methodologies will also be considered. Seminar (Spring). |
3 |
| Choose one of the following: | 3 |
|
| STSO-710 | Graduate Science and Technology Policy Seminar STP examines how local, state, federal and international policies are developed to influence innovation, the transfer of technology and industrial productivity in the United States and other selected nations. It provides a framework for considering the mechanisms of policy as a form of promotion and control for science and technology, even once those innovations are democratized and effectively uncontrollable. Further focus is dedicated to the structure of governance inherent in U.S. domestic policy, limits of that approach, the influences of international actors, and utilizing case studies to demonstrate the challenges inherent in managing differing types of technology. This seminar is restricted to degree-seeking graduate students or those with permission from the instructor. (This class is restricted to degree-seeking graduate students or those with permission from instructor.) Seminar (Biannual). |
|
| PUBL-610 | Technological Innovation and Public Policy Technological innovation, the incremental and revolutionary improvements in technology, has been a major driver in economic, social, military, and political change. This course will introduce generic models of innovation that span multiple sectors including: energy, environment, health, and bio- and information-technologies. The course will then analyze how governments choose policies, such as patents, to spur and shape innovation and its impacts on the economy and society. Students will be introduced to a global perspective on innovation policy including economic competitiveness, technology transfer and appropriate technology. Lecture 3 (Spring). |
|
Graduate Electives |
9 | |
| Choose one of the following: | 6 |
|
| PUBL-785 | Capstone Experience The Public Policy Capstone Experience serves as a culminating experience for those MS in Science, Technology and Public Policy students who chose this option in the Public Policy Department. Over the course of the semester, students will have the opportunity to investigate and address contemporary topics in science and technology policy using analytic skills and theoretical knowledge learned over the course of their MS degree. Project 1 (Fall, Spring, Summer). |
|
| PUBL-790 | Public Policy Thesis The master's thesis in science, technology, and public policy requires the student to select a thesis topic, advisor and committee; prepare a written thesis proposal for approval by the faculty; present and defend the thesis before a thesis committee; and submit a bound copy of the thesis to the library and to the program chair. (Enrollment in this course requires permission from the department offering the course.) Thesis 3 (Fall, Spring, Summer). |
|
| PUBL-798 | Comprehensive Exam plus two (2) Graduate Electives |
|
| Total Semester Credit Hours | 144 |
|
Please see General Education Curriculum (GE) for more information.
(WI-PR) Refers to a writing intensive course within the major.
* Please see Wellness Education Requirement for more information. Students completing bachelor's degrees are required to complete two different Wellness courses.
† Students will satisfy this requirement by taking either a 3- or 4-credit hour lab science course. If a science course consists of separate lecture and laboratory sections, the student must take both the lecture and lab portions to satisfy the requirement.
Economics, BS degree/Artificial Intelligence, MS degree, typical course sequence
| Course | Sem. Cr. Hrs. | |
|---|---|---|
| First Year | ||
| ECON-100 | Foundational Seminar in Economics This course is designed to introduce new students in the economics program (freshmen and external and internal transfers) to the application of economic analysis in academia, business, government and the not-for-profit sector. Students will be exposed to the research and consulting activities undertaken by academic economists and economic practitioners as well as a discussion of the career outcomes of the alumni of the RIT economics program. (This course is restricted to ECON-BS Major students.) Seminar (Fall, Spring, Summer). |
0 |
| ECON-101 | Principles of Microeconomics (General Education) Microeconomics studies the workings of individual markets. That is, it examines the interaction of the demanders of goods and services with the suppliers of those goods and services. It explores how the behavior of consumers (demanders), the behavior of producers (suppliers), and the level of market competition influence market outcomes. Lecture 3 (Fall, Spring). |
3 |
| ECON-201 | Principles of Macroeconomics (General Education) Macroeconomics studies aggregate economic behavior. The course begins by presenting the production possibilities model. This is followed by a discussion of basic macroeconomic concepts including inflation, unemployment, and economic growth and fluctuations. The next topic is national income accounting, which is the measurement of macroeconomic variables. The latter part of the course focuses on the development of one or more macroeconomic models, a discussion of the role of money in the macroeconomy, the aggregate supply-aggregate demand framework, and other topics the individual instructor may choose. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Fall, Spring, Summer). |
3 |
| Choose one of the following: | 3 |
|
| MATH-161 | Applied Calculus (General Education – Mathematical Perspective A) This course is an introduction to the study of differential and integral calculus, including the study of functions and graphs, limits, continuity, the derivative, derivative formulas, applications of derivatives, the definite integral, the fundamental theorem of calculus, basic techniques of integral approximation, exponential and logarithmic functions, basic techniques of integration, an introduction to differential equations, and geometric series. Applications in business, management sciences, and life sciences will be included with an emphasis on manipulative skills. (Prerequisite: C- or better in MATH-101, MATH-111, MATH-131, NMTH-260, NMTH-272 or NMTH-275 or Math Placement Exam score greater than or equal to 45.) Lecture 4 (Fall, Spring). |
|
| MATH-171 | Calculus A (General Education – Mathematical Perspective A) This is the first course in a three-course sequence (COS-MATH-171, -172, -173). This course includes a study of precalculus, polynomial, rational, exponential, logarithmic and trigonometric functions, continuity, and differentiability. Limits of functions are used to study continuity and differentiability. The study of the derivative includes the definition, basic rules, and implicit differentiation. Applications of the derivative include optimization and related-rates problems. (Prerequisites: Completion of the math placement exam or C- or better in MATH-111 or C- or better in ((NMTH-260 or NMTH-272 or NMTH-275) and NMTH-220) or equivalent course.) Lecture 5 (Fall, Spring). |
|
| MATH-181 | Calculus I (General Education – Mathematical Perspective A) This is the first in a two-course sequence intended for students majoring in mathematics, science, or engineering. It emphasizes the understanding of concepts, and using them to solve physical problems. The course covers functions, limits, continuity, the derivative, rules of differentiation, applications of the derivative, Riemann sums, definite integrals, and indefinite integrals. (Prerequisites: MATH-111 or (NMTH-220 and NMTH-260 or NMTH-272 or NMTH-275) or equivalent courses with a minimum grade of B-, or a score of at least 60% on the RIT Mathematics Placement Exam.) Lecture 4 (Fall, Spring). |
|
| Choose one of the following: | 3 |
|
| MATH-172 | Calculus B (General Education – Mathematical Perspective B) This is the second course in three-course sequence (COS-MATH-171, -172, -173). The course includes Riemann sums, the Fundamental Theorem of Calculus, techniques of integration, and applications of the definite integral. The techniques of integration include substitution and integration by parts. The applications of the definite integral include areas between curves, and the calculation of volume. (Prerequisites: C- or better in MATH-171 or 1016-171T or 1016-281 or 1016-231 or equivalent course.) Lecture 5 (Fall, Spring). |
|
| MATH-182 | Calculus II (General Education – Mathematical Perspective B) This is the second in a two-course sequence. It emphasizes the understanding of concepts, and using them to solve physical problems. The course covers techniques of integration including integration by parts, partial fractions, improper integrals, applications of integration, representing functions by infinite series, convergence and divergence of series, parametric curves, and polar coordinates. (Prerequisites: C- or better in MATH-181 or MATH-181A or equivalent course.) Lecture 4 (Fall, Spring). |
|
| STAT-146 | Introduction to Statistics II (General Education – Mathematical Perspective B) This course is an elementary introduction to the topics of regression and analysis of variance. The statistical software package Minitab will be used to reinforce these techniques. The focus of this course is on business applications. This is a general introductory statistics course and is intended for a broad range of programs. (Prerequisites: STAT-145 or equivalent course.) Lecture 6 (Fall, Spring, Summer). |
|
| STAT-145 | Introduction to Statistics I (General Education – Elective) This course introduces statistical methods of extracting meaning from data, and basic inferential statistics. Topics covered include data and data integrity, exploratory data analysis, data visualization, numeric summary measures, the normal distribution, sampling distributions, confidence intervals, and hypothesis testing. The emphasis of the course is on statistical thinking rather than computation. Statistical software is used. (Prerequisites: Any 100 level MATH course, or NMTH-260 or NMTH-272 or NMTH-275 or (NMTH-250 with a C- or better) or a Math Placement Exam score of at least 35.) Lecture 3 (Fall, Spring, Summer). |
3 |
| YOPS-10 | RIT 365: RIT Connections RIT 365 students participate in experiential learning opportunities designed to launch them into their career at RIT, support them in making multiple and varied connections across the university, and immerse them in processes of competency development. Students will plan for and reflect on their first-year experiences, receive feedback, and develop a personal plan for future action in order to develop foundational self-awareness and recognize broad-based professional competencies. (This class is restricted to incoming 1st year or global campus students.) Lecture 1 (Fall, Spring). |
0 |
General Education – Artistic Perspective |
3 | |
General Education – Ethical Perspective |
3 | |
General Education – First-Year Writing (WI) |
3 | |
General Education – Natural Science Inquiry Perspective� |
3 | |
General Education – Elective |
3 | |
| Second Year | ||
| ECON-402 | Intermediate Macroeconomic Theory The central question of macroeconomics is the determination of output, employment, and prices. This course develops models which incorporate behavioral assumptions concerning consumption, investment, and the role of money and their relationship to macroeconomic variables. Macroeconomics, unlike microeconomics, has been in a constant state of flux during the 20th and into the 21st century. Theories which purport to explain macroeconomic behavior have come into and gone out of fashion depending upon institutional changes and external factors. This course will primarily focus on examining four macroeconomic theories; the Classical, Keynesian, Monetarist, and New Classical models. In addition, macroeconomic public policy will be analyzed in the context of recent economic history. This analysis will be extended to consider open economy macroeconomics in a global context. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and ECON-201 and (MATH-161 or MATH-171 or MATH-181 or MATH-181A) or equivalent course.) Lecture 3 (Fall or Spring). |
3 |
| ECON-403 | Econometrics I (WI-PR) (General Education) Econometrics I provides students with the opportunity to develop their skills in applied regression analysis. It covers various regression estimation techniques, data preparation and transformation, and the interpretation of regression results. There is particular emphasis on the dangers of misuse of regression techniques. The course covers regression analysis for both cross-sectional and time series data. (Prerequisites: (ECON-101 or ECON-101H) and (MATH-161 or MATH-171 or 1016-171T or MATH-181 or MATH-181A) and (STAT-145 or CQAS-251 or MATH-251 or STAT-205 or STAT-251) or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| Choose one of the following: | 3 |
|
| ECON-405 | International Trade and Finance This course first surveys the sources of comparative advantage. It then analyzes commercial policy and analyzes the welfare economics of trade between countries. Some attention is paid to the institutional aspects of the world trading system. Finally, the course introduces the student to some salient notions in international finance such as national income accounting, the balance of payments, and exchange rates. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and ECON-201 or equivalent course.) Lecture 3 (Fall or Spring). |
|
| ECON-406 | Global Economic Issues This course is focused on understanding economic problems in a global perspective. The students will study the impact of globalization on economic growth and income disparity among countries. Global economic issues such as poverty, hunger, refugees, and transnational terrorism will be studied. We will also discuss global efforts to attain progress such as the United Nations Millennium Development Goals. The course work will emphasize the analysis of international economic data. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Spring). |
|
General Education – Global Perspective |
3 | |
General Education – Immersion 1 |
3 | |
General Education – Social Perspective |
3 | |
General Education – Elective |
3 | |
Open Elective |
3 | |
Track Courses‡ |
6 | |
| Third Year | ||
| ECON-401 | Intermediate Microeconomic Theory This course develops the tools that are commonly used to study the allocation of resources in a private enterprise economy. Topics covered include the theory of consumer behavior, cost and production, and alternate market structures. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course and MATH-161 or MATH-171 or MATH-181 or MATH-181A or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| ECON-404 | Mathematical Methods: Economics Mathematical Methods: Economics provides students with an introduction to quantitative techniques used in economics such as matrix algebra, one- and multi-variable differential calculus, and unconstrained and constrained optimization. The emphasis of the instruction is on the application of these techniques to fortify and broaden a student's understanding of traditional economic topics like utility maximization, cost minimization, duality in consumer theory, expected utility, and profit maximization. (Prerequisites: ECON-101 and MATH-161 or MATH-171 or MATH-181 or MATH-181A or equivalent courses.) Lecture 3 (Fall, Spring). |
3 |
| GCIS-123 | Software Development and Problem Solving I A first course introducing students to the fundamentals of computational problem solving. Students will learn a systematic approach to problem solving, including how to frame a problem in computational terms, how to decompose larger problems into smaller components, how to implement innovative software solutions using a contemporary programming language, how to critically debug their solutions, and how to assess the adequacy of the software solution. Additional topics include an introduction to object-oriented programming and data structures such as arrays and stacks. Students will complete both in-class and out-of-class assignments. Lab 6 (Fall, Spring). |
4 |
| IDAI-700 | Ethics of Artificial Intelligence This course will familiarize students with foundational concepts and emerging ideas in the ethics of artificial intelligence and their implications for public policy. It will be broken down into three sections: (1) the ethics of machine learning; (2) the moral status of AI; and (3) AI and the distant future. The first section will consider such topics as the ethical implications of unconscious bias in machine learning (e.g., in predictive text, facial recognition, speech dialogue systems); what constraints should govern the behavior of autonomous and semi-autonomous machines such as drones and smart cars; whether AI can undermine valuable social institutions and perhaps to democracy itself and what might be done to mitigate such risk; and how automation might transform the labor economy and whether this morally desirable. The second section turns to the question of our moral obligations toward (some) artificial intelligences. Here, we will ask what grounds moral status in general and how this might apply to artificial intelligences in particular, including how should we should balance moral obligations toward (some) AIs with competing obligations toward human beings and other creatures with morally protectable interests. The final section will look to the far distant future and consider how (if at all) we might identify and estimate future threats from AI and what might be done today to protect all those who matter morally. Lecture 3 (Fall). |
3 |
General Education – Immersion 2, 3 |
6 | |
General Education – Scientific Principles Perspective |
3 | |
General Education – Elective§ |
3 | |
Open Elective |
2 | |
Track Course |
3 | |
| Fourth Year | ||
| ECON-407 | Industrial Organization The study of the structure, conduct and performance of contemporary American industry. Involves the application of the tools of microeconomic analysis and empirical evidence to aid in understanding the behavior of modern industry. In addition, the course considers the historical determinants of contemporary market structure and the public policy measures designed to preserve a competitive market structure. The course concludes with an examination of alternative intellectual property rights mechanisms and how alternative mechanisms impact firm-level and economy-level innovation rates. (Prerequisites: ECON-101 or completion of one (1) 400 or 500 level ECON course.) Lecture 3 (Fall, Spring). |
3 |
| ECON-510 | Economics Capstone Experience This course registers the student’s completion of the capstone experience required for economics majors. The requirement can be fulfilled by either presenting a class paper at an approved on-campus or off-campus research conference or submitting a solo-authored or co-authored research paper to a peer-reviewed journal. Economics students experience conducting research and presenting their findings before an audience of their peers and professionals in the field. Students are sponsored by a faculty member, developing their pre-professional skills while learning how to do research first hand. Double-majors who satisfactorily complete a capstone experience in their primary major automatically fulfill the economics capstone experience requirement. (This class is restricted to students with at least 2nd year standing in ECON-BS.) Research (Fall, Spring, Summer). |
0 |
| IDAI-610 | Fundamentals of Artificial Intelligence This course covers the underlying theories and algorithms used in the field of artificial intelligence. Topics include the history of AI, search algorithms (such as A*, game search and constraint satisfaction), logic and logic programming, planning, and an overview of machine learning. Programming assignments, including implementation of AI algorithms, and oral/written summaries of research papers are required. Lecture 3 (Fall). |
3 |
General Education – Elective |
3 | |
Open Electives |
12 | |
Track Courses** |
9 | |
| Fifth Year | ||
| IDAI-620 | Mathematical Methods for Artificial Intelligence This course introduces the mathematical background necessary to understand, design, and effectively deploy AI systems. It focuses on four key areas of mathematics: (1) linear algebra, which enables describing, storing, analyzing and manipulating large-scale data; (2) optimization theory, which provides a framework for training AI systems; (3) probability and statistics, which underpin many machine learning algorithms and systems; and (4) numerical analysis, which illuminates the behavior of mathematical and statistical algorithms when implemented on computers. Lecture 3 (Fall). |
3 |
| IDAI-710 | Fundamentals of Machine Learning This course is an introduction to machine learning theories and algorithms. Topics include an overview of data collection, sampling and visualization techniques, supervised and unsupervised learning and graphical models. Specific techniques that may be covered include classification (e.g., support vector machines, tree-based models, neural networks), regression, model selection and some deep learning techniques. Programming assignments and oral/written summaries of research papers are required. (Prerequisites: IDAI-610 and IDAI-620 or equivalent courses.) Lecture 3 (Spring). |
3 |
| IDAI-720 | Research Methods for Artificial Intelligence Hallmarks of AI are systems that perform human-like behaviors, and AI systems rely on continuous preparation and deployment of data resources as new tasks emerge. In this course, students develop their conceptual, applied, and critical understanding about (1) experimental principles and methods guiding the collection, validation, and deployment of human data resources for AI systems; (2) human-centered AI concepts and techniques including dataset bias, debiasing, AI fairness, humans-in-the loop methods, explainable AI, trust), and (3) best practices for technical writing and presentation about AI. As a milestone, based on research review, students will write and present an experimental design proposal for dataset elicitation followed by computational experimentation, with description and visualization of the intended experiment setup, as well as critical reflection of benefits, limitations, and implications in the context of AI system development and deployment. (Prerequisites: IDAI-610 and IDAI-700 or equivalent courses.) Lecture 3 (Spring). |
3 |
| Choose one of the following: | 6 |
|
| IDAI-780 | Capstone Project, plus one (1) additional Graduate Elective Graduate capstone project by the candidate on an appropriate topic as arranged
between the candidate and the research advisor. Lecture 3 (Fall, Spring, Summer). |
|
| IDAI-790 | Research & Thesis Masters-level research by the candidate on an appropriate topic as arranged between
the candidate and the research advisor. Thesis (Fall, Spring, Summer). |
|
Graduate Electives |
9 | |
| Total Semester Credit Hours | 144 |
|
Please see General Education Curriculum (GE) for more information.
(WI-PR) Refers to a writing intensive course within the major.
* Please see Wellness Education Requirement for more information. Students completing bachelor's degrees are required to complete two different Wellness courses.
† Students will satisfy this requirement by taking either a 3- or 4-credit hour lab science course. If a science course consists of separate lecture and laboratory sections, the student must take both the lecture and lab portions to satisfy the requirement.
‡ It is recommended that students take MATH-200 (Discrete Mathematics and Introduction to Proofs) and MATH-241 (Linear Algebra) as track courses.
§ It is recommended that students take GCIS-124 (Software Development and Problem Solving II) as a General Education Elective.
** It is recommended that students take ECON-411 (Computational Economics) as one of the track courses.