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Economics

Organizational leaders and managers must increasingly apply economic theory to business activities and decisions as they work in our age of globalization and interconnected world markets. The graduate certificate in economics examines various economic models and methods and how they influence markets and decision making.

You’ll study determinants of the aggregate level of economic activity, the basis for international trade, and how macroeconomics influence policy-making. Upon completion of the certificate, you’ll be prepared to analyze the organizational, technological, industrial, and informational structure of your firm’s competitive environment, and understand how the behavior of consumers and firms affects the marketplace.

Through a course schedule that can be completed with both face-to-face and online classes, the program’s flexibility and affordability will allow you to complete your certificate in as little as 12 months, giving you a valuable credential to add to your resume as you advance your career. All certificate courses can also be applied toward a degree, such as an MBA or master of management.

With small class sizes and respected professional faculty who will help you achieve your goals, our certificate programs are one of the options that the School of Business and Nonprofit Management offers to students committed to becoming successful, ethical business leaders.

Courses

The five classes below are required for the certificate in economics. Click on a course title to read its description.

Review our semester schedules to see current offerings, including online and on-campus classes.

SBNM 5210 – Macroeconomics
This course studies the determinants of aggregate demand and aggregate supply, causes of economic recessions and recoveries, government policies that foster stability and growth, processes leading to inflation, the effect of inflationary expectations on interest rates and labor markets, and the effect of central bank policies on the value of the dollar. The course deals with the equilibrium level of employment and output, the differential impact of temporary and permanent changes in policy on the equilibrium values of macro variables, the distinction between policy actions and rules, and the connection between fiscal and monetary policy.

SBNM 5211 – Global Economics
This course studies the basis for international trade, and how global exchanges of resources take place. The course studies the changing patterns of trade between nations in various regions of the world. The competition of nations in global markets and the strategic positions of business firms within international markets are analyzed. The course studies both developed nations as well as the newly industrializing countries representing emerging markets. The nature and goals of regional economic alliances are presented, and the role played by national governments in shaping global trade is discussed. The course explains differences in technology exchanges between nations.

SBNM 5212 – Microeconomics
The focus of microeconomic analysis is on business decision making within the firm, on the behavior of individual markets reacting to supply and demand forces, on the consequences of alternative market structures and business policies, and on the interactions between the public and private sectors. Specific topics for this course include supply and demand analysis, consumer behavior, theory of cost and production, pricing and non-price modes of competition, market structure, economic deficiency, and policy response to market failure. Ethical considerations with respect to pricing and competition are incorporated throughout the course. The legal framework and laws covering anti-trust are examined.

SBNM 5220 – Econometrics
This course combines mathematical methods with economic and business models in order to develop and provide empirical content for these models. This approach is appropriately applied in the solution of practical problems. In addition, these methods allow for a more precise analysis of relevant economic and business issues. Accurate and measurable analysis is the basis of the formulation of appropriate policy. Such policy may take the form of setting macroeconomic or microeconomic goals, or in the development and application of strategic objectives of business firms. Econometric methods and applications provide a significant basis for making more reliable economic and business decisions.

SBNM 5230 – Industry and Competitive Analysis
This course develops methods for the analysis of the organizational, technological, industrial, and informational structure of the business firm's competitive environment. In the process of introducing and developing applied business research methods and case studies, the competitive and strategic decisions made by firms will be assessed and evaluated. Managers must have a relevant and reliable understanding of competitive and industrial conditions, and the ability to analyze information and manage in a variety of new and changing situations. Ethical considerations and social responsibility are consistently included and explored in the process of discussing business decision making.

Gainful Employment Information

North Park University is required to provide detailed information about the gainful employment of our students who enroll in School of Business and Nonprofit Management certificate programs. These disclosures will assist students in making informed enrollment decisions with regards to the possible employment opportunities that accompany each of the certificate programs.

Lee Sundholm, School of Business and Economics professor