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ACADEMIC:

DEPARTMENT OF ECONOMICS

The Department of Economics is engaged in the dual function of providing professional training to students majoring in Economics and rendering teaching services to students of other departments on the Mayagüez Campus of the University of Puerto Rico. Student professional training is offered through an academic program which emphasizes the development of quantitative methods and techniques necessary for economic analysis. The program requires a three semester sequence in mathematics, one year of mathematical statistics and a one semester course in econometrics, as well as a one year seminar course in research methodology. Upon successful completion of this program, students are awarded a Bachelor of Arts degree with a concentration in Economics. Teaching services, on the other hand, are designed for students who take introductory and intermediate economics courses as requirements and/or electives within their major field of study.

The common purpose of both functions is to develop students' ability to think clearly and objectively in dealing with economic decisions and problems. Students are trained specifically to replace value judgments and prejudices with sound economic reasoning based on an objective and rational analysis. Besides these two functions, economic research and the promotion of economic education are two integral elements within the Department.

Ceteris Paribus: Economic Journal of Puerto Rico is the first online professional journal of economics published in Puerto Rico. It is responsible for the diffusion of research results, and other academic activities pursued by faculty members, students, scholars and economists. It is aimed at providing online links to data sources, to other professional journals in Puerto Rico and to the Caribbean, research in process, research proposals, and professional activities.

The Economics Department is located on the first and third floors of the Sanchez Hidalgo Building. Our physical infrastructure includes five classrooms, sixteen office spaces, one research room for majors with all the technology infrastructure, one seminar room and an updated computer network. Our faculty actively integrates computer and internet resources to its courses using an area network comprising: 60 computers, a wireless network that covers all classrooms and a Dell Power Edge server with Windows 2003 Operating System. All the computers in the network have internet access and Windows XP, Office XP and Adobe Acrobat Full Version Software. All of our classrooms and the seminar room are equipped with interactive whiteboards and electronic multimedia equipment.

Updated information about our program may be found at http://econ.uprm.edu.


PROGRAMS OF STUDY

BACHELOR OF ARTS IN ECONOMICS

Summary of Credits in Program
Institutional requirements
2
Faculty requirements
54
Departmental requirements
  • Major area
39
  • Non-major area
9
Recommended electives
18
Free electives
12
Total required credits:
134

FIRST YEAR
First Semester
Number
Course
Credits
ECON 3021 Principles of Economics: Microeconomics
3
MATE 3171 Pre-Calculus I
3
*ESPA 3101 Basic Course in Spanish
3
*INGL 3_ _ _ First year course in English
3
HUMA 3111 Intro. to Western Culture I
3
EDFI _ _ _ _ Course in Physicial Education
1
16

Second Semester
Number
Course
Credits
ECON 3022 Principles of Economics: Macroeconomics
3
MATE 3000 Finite Mathematics
3
*ESPA 3102 Basic Course in Spanish
3
*INGL_ _ _ _ First year course in English
3
HUMA 3112 Intro. to Western Culture II
3
EDFI _ _ _ _ Course in Physical Education
1
16


SECOND YEAR
First Semester
Number
Course
Credits
ECON 3091 Micro Economic Theory
3
ECON _ _ _ Elective in Economics
3
MATE 3049 Mathematical Analysis for Management Sciences
3
ESMA 3101 Applied Statistics I
3
INGL 3 _ _ _ Second year course in English
3
ELECTIVE Recommended Elective
3
18


Second Semester
Number
Course
Credits
ECON 3092 Macro Economic Theory
3
ECON 3085 Economic and Social Development of Puerto Rico
3
ECON _ _ _ Elective in Economics
3
ESMA 3102 Applied Statistics II
3
INGL 3 _ _ _ Second year course in English
3
ELECTIVE Recommended Elective
3
18


THIRD YEAR
First Semester
Number
Course
Credits
ECON 4017 Econometrics
3
ECON _ _ _ Elective in Economics
3
CIBI 3031 Intro. to the Biological Sciences I
3
ESPA 3_ _ _ Course above level of Basic Spanish
3
ELECTIVE Recommended Elective
3
ELECTIVE Free Elective
3
18


Second Semester
Number
Course
Credits
ECON _ _ _ Elective in Economics
3
ECON _ _ _ Elective in Economics
3
CIBI 3032 Intro. to the Biological Sciences II
3
ESPA 3_ _ _ Course above level of basic Spanish
3
ELECTIVE Recommended Elective
3
ELECTIVE Free Elective
3
18


FOURTH YEAR
First Semester
Number
Course
Credits
ECON 4391 Research Methods in Economics I
3
+Course in Social Sciences
3
CIFI, QUIM or GEOL Elective in Physics, Chemistry or Geology
3
ELECTIVE Recommended Elective
3
ELECTIVE Free Elective
3
15


Second Semester
Number
Course
Credits
ECON 4392 Research Methods in Economics II
3
+Course in Social Sciences
3
CIFI, QUIM or GEOL Elective in Physics, Chemistry or Geology
3
ELECTIVE Recommended Elective
3
ELECTIVE Free Elective
3
15

Total credits required: 134

*Refer to the Academic Regulations section for information on Advanced Placement.
+Choose any of the following courses: ANTR 3005, ANTR 3015, ANTR/CISO 4066, CIPO 3011, CIPO 3025, CIPO 3035, CIPO 3095, CIPO 3175, CIPO 4016, CIPO 3036, CIPO 4236, CISO 3121-3122, GEOG 3155, GEOG 3185, HIST ____, PSIC 3001-3002, SOCI 3016, SOCI 3261-3262, SOCI 3315, ECON 3021-3022, ECON 3091-3092, ECON 4037 or ECON 4056.

RECOMMENDED ELECTIVES
BUSINESS ADMINISTRATION:
Number
Course
Credits

ADMI 3007 Introduction to Computer Data Processing
3
ADMI 3015 Introduction to International Business
3
ADMI 3100 New Business Development
3
ADMI 3150 Business Plan Development
3
ADMI 3155 Creativity and Entrepreneurial Innovation
3
ADMI 4001 Business Law I
3
ADMI 4002 Business Law II
3
ADMI 4016 The Environment of Organizations
3
CONT 3005 Elementary Accounting I
4
CONT 3006 Elementary Accounting II
4
CONT 4006 Managerial Accounting
3
CONT 4007 Federal Income Tax
3
CONT 4009 Income Tax of Puerto Rico
3
CONT 4015 Advanced Accounting Problems
4
CONT 4016 Contemporary Theory of Accounting
3
FINA 3005 Principles of Insurance
3
FINA 3006 Business Finance
3
FINA 3008 Working Capital Management
3
FINA 3015 Mathematics of Finance
3
FINA 4036 Management of Financial Institutions
3
FINA 4037 Investments
3
GERE 4007 Operations Management
3
GERE 4008 Quantitative Methods in Management
3
GERE 4009 Production Planning and Control
3
ESOR 4005 Governmental Control of Business
3
ESOR 4006 Principles of Management
3
ESOR 4007 Organizational Theory
3
MERC 3115 Principles of Marketing
3
MERC 4065 Marketing in the International Environment
3
MERC 4075 Marketing Research
3
MERC 4217 Consumer Behavior
3

SOCIAL SCIENCES:
CIPO 3011 Principles of Political Science
3
CIPO 3025 Government of the United States of America
3
CIPO 3035 Government of Puerto Rico
3
CIPO 3175 Introduction to Law
3
CIPO 4005 Constitutional Law
3
CIPO 4016 Government and Politics of the Middle East
3
CIPO 4045 Elements of Public Administration
3
CIPO 4127 Globalization and World Politics
3
GEOG 3155 Human Geography
3
HIST 3111 History of the United States of America
3
HIST 3121 History of the Foreign Policy of the United States of America
3
HIST 3122 History of the Foreign Policy of the United States of America
3
HIST 3141 History of Spain I
3
HIST 3201 History of the Modern World I
3
HIST 3211 History of Latin America
3
HIST 3212 History of Latin America
3
HIST 3241 History of Puerto Rico
3
HIST 3242 History of Puerto Rico
3
HIST 4111 Social History of the United States of America
3
HIST 4112 Social History of the United States of America
3
HIST 4117 History of Labor in the United States of America
3
HIST 4345 Twentieth Century Puerto Rican History
3
PSIC 3001 Principles of Psychology I
3
PSIC 3002 Principles of Psychology II
3
PSIC 3015 Theories of Personality
3
SOCI 3261 Introduction to Sociology I
3
SOCI 3262 Introduction to Sociology II
3
SOCI 3305 Principles of Population
3
SOCI 4145 Social Planning
3

MATHEMATICS:
COMP 3010 Introduction to Computer Programming I
3
MATE 3031 Calculus I
3
MATE 3032 Calculus II
3
MATE 3063 Calculus III
3
MATE 4031 Introduction to Linear Algebra
3
ESMA 4001 Mathematical Statistics I
3
ESMA 4002 Mathematical Statistics II
3
ESMA 4005 Non-Parametric Applied Statistics
3

HUMANITIES:
FILO 3001 Introduction to Philosophy: Major Questions
3
FILO 3002 Introduction to Philosophy: Historical Approach
3
FILO 3155 Introduction to Ethics
3
FILO 3156 Modern and Contemporary Ethics
3
FILO 3157 Introduction to Logic
3
FILO 3178 Business Ethics
3

HISPANIC STUDIES:
ESPA 3208 Composition
3
ESPA 3215 Expression and Communication
3
ESPA 3295 Spanish Grammar
3

ENGLISH:
INGL 3231 English Expository Writing
3
INGL 3236 Technical Report Writing
3
INGL 3238 Creative Writing
3
INGL 3250 Public Speaking
3
INGL 3268 Writing for the Communications Media
3

ECONOMICS:
ECON 3086 Contemporary Problems of the Puerto Rican Economy
3
ECON 3095 Securities Markets
3
ECON 4006 Business Cycles
3
ECON 4007 Quantitative Methods in Economics
3
ECON 4015 Economic Development
3
ECON 4016 Managerial Economics
3
ECON 4025 Money and Banking
3
ECON 4027 Transportation Economics
3
ECON 4028 Economics of Natural Resources
3
ECON 4037 Urban Economics
3
ECON 4045 Comparative Economic Systems
3
ECON 4046 Input-Output Analysis
3
ECON 4055 History of Economic Thought
3
ECON 4056 Environmental Economics
3
ECON 4065 Economics of the Public Sector and Fiscal Policy
3
ECON 4085 International Economics
3
ECON 4185 Economic Problems of Latin America
3
ECON 4196 Economics of Industrial Organization
3
ECON 4225 Labor Economics
3
ECON 4307 Project Evaluation
3
ECON 4425 Special Topics
1-3
ECON 4995 Special Problems
1-3

AGRICULTURAL ECONOMICS:
ECAG 3015 Agricultural Law
3
ECAG 4009 Cooperative Enterprises
3
ECAG 4028 Agricultural Finance
3
ECAG 4029 Agribusiness Management
3



DEPARTMENTAL FACULTY

JOSE I. ALAMEDA-LOZADA, Professor, Ph.D., 1996, University of Wales at Aberystwyth, United Kingdom.

LEANDRO COLON-ALICEA, Professor, Ph.D., 1993, University of Wales at Aberystwyth, United Kingdom.

OLBEN DELGADO-MENDEZ, Professor, Ph.D., 1996, New York University.

IVONNE DEL C. DIAZ-RODRIGUEZ, Associate Professor, Ph.D., 2000, Ohio State University.

EDWIN IRIZARRY-MORA, Professor, Ph.D., 1989, University of Sussex, United Kingdom.

EDUARDO KICINSKI-MARTIN, Professor, Ph.D., 1990, University of Wisconsin - Madison.

ORLANDO SOTOMAYOR-RODRIGUEZ, Professor, Ph.D., 1994, Cornell University.

JEFFREY VALENTÍN-MARI, Associate Professor, Ph.D., 1999, University of Wisconsin-Milwaukee.

NILSA A. VELAZQUEZ-MATOS, Professor, J.D., 1994, Pontifical Catholic University of Puerto Rico.


COURSES OF INSTRUCTION

Undergraduate Courses

ECON 3021. PRINCIPLES OF ECONOMICS MICROECONOMICS. Three credit hours. Three hours of lecture per week.

Introduction to microeconomics emphasizing supply and demand, costs of production, and price and output determination under different market structures.

ECON 3022. PRINCIPLES OF ECONOMICS MACROECONOMICS. Three credit hours. Three hours of lecture per week.

Introduction to macroeconomics, emphasizing social accounting, equilibrium, income and output determination, unemployment, inflation, the financial system, and economic policy.

ECON 3085. ECONOMIC AND SOCIAL DEVELOPMENT OF PUERTO RICO. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

The evolution of the economic system of Puerto Rico; an analysis of its history, structural development, and fundamental problems.

ECON 3086. CONTEMPORARY PROBLEMS OF THE PUERTO RICAN ECONOMY. Three credit hours. Three hours of lecture per week. Prerequisite: ECON 3085.

Analysis of the contemporary Puerto Rican economy and its problems.

ECON 3091. MICRO-ECONOMIC THEORY. Three credit hours. Three hours of lecture per week. Prerequisite: ECON 3021.

A study of modern micro-economic theory; an analysis of price determination under different market structures.

ECON 3092. MACRO-ECONOMIC THEORY. Three credit hours. Three hours of lecture per week. Prerequisite: ECON 3022.

An analysis of the economic determinants of the level, change and growth of production and employment. Special emphasis is given to modern theories and their policy implications.

ECON 3095. SECURITIES MARKETS. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

Nature and function of operations, and regulation of the securities' markets.

ECON 4006. BUSINESS CYCLES. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

Economic factors that affect fluctuations in income, production, employment, and prices; theories that explain this phenomenon; counter-cyclical policy.

ECON 4008. UNCERTAINTY ECONOMICS. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

Game theory and its economic applications; decision-making under uncertainty with emphasis on its effects on the insurance market, the labor market, investment, the strategic behavior of firms in an oligopoly, and auctions.


ECON 4007. QUANTITATIVE METHODS IN ECONOMICS. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021, ECON 3022 and ESMA 3101or MATE 3101.

Application of the concepts and techniques of quantitative analysis to the field of economics; quantitative aspects of demand-supply analysis, production functions, design of economic models, and other topics.

ECON 4015. ECONOMIC DEVELOPMENT. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

A study of the common characteristics of underdeveloped countries, with emphasis on the economic theories explaining the factors that determine economic development; an examination of economic policies designed to foster development.

ECON 4016. MANAGERIAL ECONOMICS. Three credit hours. Three hours of lecture per week. Prerequisite: ECON 3091.

Economic techniques necessary for directing and operating business enterprises including mathematical programming, marginal economic analysis, capital budgeting, and evaluation of potential investments under conditions of risk.

ECON 4017. ECONOMETRICS. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3091 and ECON 3092 and MATE 3049 and (MATE 3102 or ESMA 3102).

Statistical analysis applied to economic questions: model building, hypothesis testing, estimation techniques, and data problems.

ECON 4025. MONEY AND BANKING. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

The origin and development of money and banking with emphasis on the functions of the monetary and banking systems, central banking, especially the Federal Reserve System, domestic and international monetary institutions, and the present banking laws in Puerto Rico.

ECON 4027. TRANSPORTATION ECONOMICS. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

Analysis of the economic structure of the transportation system and its significance in competition, monopoly, and economic organization.

ECON 4028. ECONOMICS OF NATURAL RESOURCES. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

Economic analysis of natural resources: their valuation, conservation, and sustainable development.

ECON 4037. URBAN ECONOMICS. Three credit hours. Three hours of lecture per week. Prerequisite: ECON 3021.

Urban issues in a microeconomic framework with emphasis on Puerto Rico. Topics include market forces and the development of cities, urban land-use patterns, transportation, and poverty.

ECON 4045. COMPARATIVE ECONOMIC SYSTEMS. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

A comparative study of the different economic systems such as capitalism, socialism, communism and fascism. Emphasis is placed on the different methods used by each system to solve the fundamental economic problems.

ECON 4046. INPUT-OUTPUT ANALYSIS. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021, ECON 3022 and MATE 3000.

Theoretical foundations, methods, techniques, and applications of economic analysis using the Input-Output model.

ECON 4055. HISTORY OF ECONOMIC THOUGHT. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

The course studies the beginning and growth of Economics as a scientific study, and shows the relationship between economic beliefs, historical circumstances and the life of the thinker. The different economic schools of thought, up to and including the more recent economic ideas are considered.

ECON 4056. ENVIRONMENTAL ECONOMICS. Three credit hours. Three hours of lecture per week. Prerequisite: ECON 3021.

Impact of economic development and population growth on environmental quality; the economic analysis of pollution; the role of government in environmental deterioration; and the international environmental issues.

ECON 4065. ECONOMICS OF THE PUBLIC SECTOR AND FISCAL POLICY. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

Analysis of government income and expenditures and the impact of fiscal policy on output, employment, prices, and other economic variables.

ECON 4085. INTERNATIONAL ECONOMICS. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

A study of the fundamental aspects of international economic theory; an examination of the current international economic framework and tendency towards economic integration; a brief analysis of the aspects and problems of the international monetary system.

ECON 4185. ECONOMIC PROBLEMS OF LATIN AMERICA. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

Economic problems of Latin America; critical evaluation of the institutions and economic factors that retard or foster their solution; the role of the State in promoting economic development.

ECON 4196. ECONOMICS OF INDUSTRIAL ORGANIZATION. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

Conduct, performance and use of price theory in the determination of industrial structure. Economic aspects of market structure, mergers and innovations, models of economic behavior, and the role of advertising.

ECON 4225. LABOR ECONOMICS. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3021 and ECON 3022.

Theory of labor market behavior and its applications to public policy. Topics include labor supply and demand, human capital theory, migration, unemployment, unions, and discrimination.

ECON 4307. PROJECT EVALUATION. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3022 and ECON 3091.

Evaluation of public investment projects emphasizing cost-benefit analysis and its application.

ECON 4391. RESEARCH METHODS IN ECONOMICS I. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3091 and ECON 3092 and (ESMA 3102 or MATE 3102) Corequisite: ECON 4017.

Discussion of the research process in the study of economic problems with emphasis on the scientific approach, research design, measurement concepts and analytical approaches. A research proposal is required.

ECON 4392. RESEARCH METHODS IN ECONOMICS II. Three credit hours. Three hours of lecture per week. Prerequisite: ECON 4391.

Development and presentation of a research project in a field of economics.

ECON 4405. ANALYSIS OF CONTEMPORARY ECONOMIC PROBLEMS. Three credit hours. Three hours of lecture per week. Prerequisites: ECON 3091 and ECON 3092 and (MATE 3102 or ESMA 3102).

A study of the fundamental economic problems of our time, such as production, employment, trade, consumption, inflation, and others.

ECON 4425. SPECIAL TOPICS. One to three credit hours. One to three hours of lecture or seminar per week. Prerequisite: Authorization of the Director of the Department.

Authors, topics, and trends in the field of economics.

ECON 4995. SPECIAL PROBLEMS. One to three credit hours. Three to nine hours of research per week. Prerequisite: Authorization of the Director of the Department.

Research under the supervision of a professor of the Department.