Course Catalog

The Course Catalog includes course descriptions of all courses offered by the Undergraduate School at Babson College. For descriptions of the courses offered in the current or upcoming semesters, please see the Course Listing.

 Undergraduate Course Catalog




ECN2000 Principles of Macroeconomics (Intermediate Liberal Arts Elective) Macroeconomics is concerned with developments in the national economy such as the level of output, prices and employment, and with the behavior of the national economy and the business cycle. Students will study national account aggregates such as GDP, GNP, exports, imports and balance of trade, and will learn about the US banking system, money creation and the use of monetary and fiscal policy to combat inflation and unemployment and manage stable growth. Prerequisites: None


ECN3615 Money, Banking, and the Economy (Advanced Liberal Arts Elective) This course builds on the Foundations of Economics core, examining the macroeconomy. It explains in greater detail the banking system, credit, money and interest rate determination, as well as exploring the interrelationship between domestic and international financial markets and institutions. For anyone in business, it is important to understand the influence that domestic and global financial markets have on the business environment and its associated volatility. Students learn to interpret the business and financial press and inform decision-making through a deeper understanding of the banking system, macro policy debates, and the drivers of interest rates, economic growth, exchange rates, international trade and capital flows, prices, and employment stability. Prerequisite: ECN2000 and SME2031 This course is typically offered in the following semesters: Fall, Spring and Summer I


ECN3620 Econometrics (Advanced Liberal Arts Elective) Econometrics is a science of estimation and evaluation of economic models by applying mathematics, statistical inferences, and economic theory. In addition to economic analysis, this course provides students with valuable knowledge base for management decision making, conducting market research, and carry out in-depth financial data analysis. The course also enhances students' quantitative and computer skills which are relevant for other disciplines. Linkage: finance, market research, management Prerequisite: (SME2031) and (QTM1010) This course is typically offered in the following semesters: Spring


ECN 3625 - Economic and Political Integration in the European Union Advanced Liberal Arts Elective 4 Credits This course examines the history and development of the economic and political integration of the European Union. Beginning with a detailed review of the treaties and agreements upon which the EU is based, we look at the institutional structure of the EU including the Commission, the Court of Justice, the European Council and the European Parliament. We will also focus on the EU budget process, the policy process, agricultural policy, external relations between the EU and non-member nations, and on the key questions of EU enlargement, common defense, and national sovereignty vs. EU integration. There will be several short analytical papers, a final exam, and a term paper. The course is both reading and writing intensive, and is recommended for students interested in international trade, international finance, global management, or economics concentrations. Prerequisite: ECN2000 and SME2031 Linkages: International Trade, International Finance, Multicultural Studies, and Macroeconomic Policy This course is typically offered in the following semester: Spring


ECN3630 Industrial Organization & Public Policy (Advanced Lib Arts) This course explores the link between market structure and a firm's decisions and strategies: how market structure imposes exogenous parameters on firms, and also how firms can endogenously affect market structure to their advantage. Topics such as vertical integration/separation/restrictions, barriers to entry, product proliferation and preemption, R&D, pricing, advertising, antitrust, and information are discussed. The course integrates theory with other disciplines through discussion of "industry modules" based on HBS cases. Prerequisite: ECN2000 and SME2031 This course is typically offered in the following semesters: Spring


ECN3645 (formerly ECN3674) Business and Economic Policy in Developing Countries (Advanced Liberal Arts) This course will examine the economic environment that businesses face in developing countries and policies that governments in these countries can adopt to promote economic growth. Topics will include macroeconomic policy, exchange rate policy, how to avoid or to survive financial and exchange rate crises, international trade, foreign direct investment, industrial policy,taxation, population, health, and education policies, corruption, and state enterprises and privatization. Prerequisite: (SME2031 and ECN2000)


ECN3650 Contemporary Economic Systems (Advanced Liberal Arts Elective) Economists marvel at the incredible growth record of entrepreneurial capitalism. This course identifies the basic institutions of free-market economies, such as (1) private property rights and the trading of those rights, (2) human rights and limitations on contracting imposed by a rule of law that recognizes individual autonomy (3) the role of the price system in facilitating entrepreneurial venturing and rivalrous competition. Different places in the world have embraced these institutions in different ways and at different times. We understand the importance of these institutions when we examine regions of the world where these institutions are outlawed or severely impaired. The historical record of the 20th century, offers us many examples and "case studies" of how living standards can be changed by miserable economic ideologies. A major focus of this course is central planning communism and the ideologies it spawned in Russia and China. The transition processes now underway are discussed in great detail. Prerequisite: (ECN2000) and (SME2031) This course is typically offered in the following semester: Spring


ECN3655 Managerial Economics (Advanced Lib Arts) Whereas ECN3615 provides a more thorough understanding of the financial institutions, which are a very important sector of the macro economy, ECN3655 provides the analytical tools for managerial decision making and policy formulation for businesses and governments. Quantitative skills are emphasized and strengthened throughout the course of study. Many of the skills learned in this course are applicable to marketing research, financial analysis, and management strategy. Prerequisite: ECN2000 and SME2031 This course is typically offered in the following semesters: Spring and Summer I


ECN3660 International Trade Theory and Policy (Advanced Liberal Arts Elective) This course explores the theory behind international trade relationships, exchange-rate mechanisms and trade policies among the various major trading economies of the world. As international trade becomes a more important consideration for all countries, it is important to understand the rationale, costs, and benefits of trading relationships, as well as the incentives (often conflicting) behind trade policies. This course combines very nicely with ECN3665 for a more complete coverage of international economics. Prerequisite: ECN2000 and SME2031 This course is typically offered in the following semesters: Fall and Spring


ECN3662 Political Economy of Latin American Development and Underdevelopment (Advanced Liberal Arts Elective) This course is for any individual interested in the political, financial, historical, and social determinants of economic development in Latin America. Both theoretical and policy issues in development are covered. Analyzing the characteristic volatility of the region's business environment, the course provides an in-depth examination of the workings of Latin America's economies, which in combination with courses in the liberal arts, leads to a greater appreciation of this region's global distinction and diversity. Prerequisite: (ECN2000) and (SME2031) This course is typically offered in the following semester: Fall


ECN3663 Economics of Education 4 credit advanced liberal arts Education plays a critical role in a country's growth, development, and economic well-being, as well as providing substantial personal benefits. Human capital development constitutes a critical and complicated social investment. Economic theories and methods provide a powerful way to analyze issues in education and education policy. This course will apply economic theory to educational problems, discuss policy context and implications, and explore how entrepreneurs may innovate in educational settings. Prerequisites: MCE2312 or SME2031


ECN3665 INTERNATIONAL FINANCE (Advanced Liberal Arts) This course provides broad and deep exposure to the (a) global financial institutions and markets, (b) quantitative and analytical tools, which are valuable for firms operating in the global marketplace, and (c) the costs and benefits of living in an increasingly interdependent world. This is a very valuable course for anyone with international interests and/or anyone who would like to work in a globally oriented job. Prerequisite: ECN2000 and SME2031 This course is typically offered in the following semesters: Fall, Spring and Summer I


ECN3667 Strategic Game Theory Advanced Liberal Arts Game theory provides a simple, but rich, framework for analyzing once-off and repeated interplay between people or firms, where the manner in which each reacts depends upon the other's reaction: strategic interaction. These interactions occur in markets, in organizations, and in the household. This course-through lectures, experiential learning, and computer simulations-will attempt to provide students with understanding of many interactions they may encounter as managers, including price wars, wars of attrition, the value of cooperation interactions, and the value of information. Prerequisite: ECN2000 and SME2031


ECN3671 The Economics of Labor Markets Labor is the key factor of production for virtually all firms, and households' sale of their labor provides most household income, driving the U.S. economy and economies around the globe. The theoretical foundations for analyzing labor demand and supply will be the starting point for examining a range of labor market topics such as human capital investment, wage determination and inequality, the choice between work and household production, the effect of unions on the labor market, labor mobility and migration, labor market discrimination, and the effects of taxation, regulation, unemployment insurance and other government policies on labor market outcomes. Prerequisite: SME2031


ECN3675 Environmental Economic - Policy and Analysis Provide students with the knowledge, skills, and tools for building an environmentally sustainable economy. Basic aim is to educate students about economic systems and human choices as they relate to environmental resources and business operations. It aims to identify and provide an understanding of the tradeoffs inherent in managing natural systems, particularly within the global framework. Finally, we will concentrate on how markets and policies affect economic and environmental outcomes. Prereq: (ECN2000) and (SME2031)


ECN3677 Regional Economies: Prospects and Tensions in Latin America's Southern Cone 4 credit Advanced Liberal Arts This course provides an introduction to the Latin American business environment, with special focus on Mercosur nations, Uruguay and Argentina. There will be two oncampus meetings followed by a week in Montevideo, Uruguay and Buenos Aires, Argentina. Students explore the emerging power of the Southern Cone economies through extensive country site visits and classroom sessions at host institutions, Universidad ORT (Uruguay) and Universidad San Andres (Argentina). In Uruguay, we examine the country's economic stability and recent prominence in world pulp and paper production. Additional themes include environmental and water rights debates, regional mining and infrastructure investment projects, and review of SouthSouth trade initiatives. In Argentina, we examine the country's emergence from the volatile swings of agricultural commodity booms, international debt, and financial turbulence. Additional themes explore ebusiness, entrepreneurship, the "Tango" as a cultural reflection of early economic development, concluding with an appraisal of the region's prospects in the face of the adversity of the impending global slowdown.


SME2031: Microeconomics Intermediate Core (3 credits) Microeconomics examines the decisions made by consumers, firms and governments in allocating scarce resources. Raw materials are not available in infinite quantities; neither are human labor and productive capital. Managers must deal with real-world constraints in making decisions about production and pricing, while consumers are subject to the constraints of income and prices in satisfying their needs and wants. Governments must set basic rules for an economy, provide certain goods and services, and deal with issues of taxation, income distribution and inequality when determining how a country’s resources will be used and who benefits from those resources. The Microeconomics curriculum introduces us to the rules and principles that help guide allocation decisions, and focuses particularly on the role of markets. Topics include the interaction of supply and demand in the determination of prices, demand and supply elasticities, rational choice theory, costs and efficient methods of production, market structure, wage determination, game theory for understanding firm interdependence, pricing strategy, and the role of government in correcting externalities and addressing other market failures. Prerequisites: None