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	300 Steele Building CB# 3504 UNC-Chapel Hill Chapel Hill, North Carolina 27599-3504 email: fys@unc.edu phone: (919)843-7773

Economics

ECON 050 [006E]: Future Shock: Global Economic Trends and Prospects
Social & Behavioral Science/Other (SS) [GC Social Science] Steven Rosefielde
The Asian and Russia economic crises of 1998 suggest that we may be entering a turbulent economic era. Turbulence of this sort can bring systemic change. Are we heading for global depression and an intensification of international conflict as in the 1930s? Will tomorrow be much like today? Or are we on the threshold of a golden age of peace and prosperity? This course will use the tools of economics and international security analysis to examine the probable directions of that change. There will be an introductory analytic component and a systematic discussion of the implications of change from Russia, China, Japan and other regions of the world.

ECON 051 [006E]: The Economics of North Carolina
Social & Behavioral Science/Other (SS) [GC Social Science]
Patrick Conway
Daily life in North Carolina depends upon economic decisions taken by its citizens. In this course we will examine seven critical issues for North Carolinians from an economic perspective. The students will learn to apply economic tools by examining questions they've heard discussed over the kitchen table while growing up. The course will be organized around seven case studies. These case studies are chosen to provide a variety of applications of economic concepts as well as to explore issues of practical importance to North Carolinians. The "economics of tobacco", for instance, will permit the students to explore the workings of a market with price ceilings as well as to examine one of the dominant agricultural crops of our state. The students will be encouraged to design, formulate, implement, and present their own analyses both in the classroom and in task-force reports; they will improve their communication skills through in-class debates, oral and written presentations, WWW-based discussion, and group assignments. http://www.unc.edu/courses/econ006e/

ECON 052 [006E]: Money as an Economic, Cultural, and Social Institution
Social & Behavioral Science/Other (SS) [GC Social Science]
Richard Froyen & Michael Salemi
There is no social institution more amazing than money. Over time people have developed the willingness to exchange valuable goods and services for " useless" pieces of paper. The institution of money creates great efficiency for modern societies. But how did money evolve? While we don't know for sure, it appears that the development of money resulted from a fascinating mix of economic, social, and cultural forces. Today banks play an essential role in the monetary system. But, how did banks develop? Why do some societies frown on charging interest while others consider it a normal part of business? We'll ask these and related questions in this seminar. The course will be organized as a seminar and divided into modules. The instructor will introduce each module. Most class time will be spent on discussions of the readings. Students will prepare in advance for these discussions, and will also participate in a number of interactive exercises, such as debates and games, designed to illustrate the important course concepts. Students also will write several essays that will teach them to use economic principles effectively in written argument.

ECON 053 [006E]: The Drug War: Costs and Benefits
Social & Behavioral Science/Other (SS) [GC Social Science]
Arthur Benavie
The basic question examined in this course will be the costs and benefits of the U.S policy of drug prohibition. Does drug prohibition decrease drug abuse? Affect violence in our society? Aid terrorism? Diminish our civil liberties? Affect the public's health? Corrupt public officials? Should drugs be decriminalized or legalized and if so, how? Should different illicit drugs be treated differently? What is the evidence in the United States and in other countries on decriminalization or legalization? The students will write a paper and present it in class, and prepare an interview with some who are on the frontline of the drug war, such as police or attorneys. As a seminar, the class will consist of discussions and debates.

ECON 054 [006E]: The Entrepreneurial Imagination: Turning Ideas Into Reality.
Social & Behavioral Science/Other (SS) [GC Social Science]
Buck Goldstein
An entrepreneur has been defined as one who identifies an opportunity, gathers the necessary resources and creates and is ultimately responsible for the performance of an organization. What are the skills and competencies that great entrepreneurs have in common and how might first year students begin to acquire such skills? This course will answer the question by combining a study of the writings of leading scholars on innovation and entrepreneurship with analytical case studies on successful entrepreneurs. This introductory work will lead to the identification of key success factors (examples might include financial acumen, passion and operational skills) and the remainder of the seminar will be dedicated to understanding these factors using a set of case studies and other written materials combined with conversations with accomplished entrepreneurs. In addition, each seminar participant will participate in a team-based project that takes an idea and turns it into a detailed plan. These projects might involve a start-up business, a new organization that fosters social change or an initiative in the arts or education.

ECON 055: The Economics of Sports
Social & Behavioral Science/Other (SS); Communication Intensive (CI)
Rita A. Balan
Many Americans enjoy watching and/or participating in sporting activities.  The popularity of collegiate and professional sports, however, stems beyond the talented athletes and the fierce rivalries.  Economic decision making has played a key part in its success.  This course uses a variety of economic tools to analyze selected topics and issues related to professional and collegiate athletics.  Some of the questions to be considered follow.  How have the structure and organization of leagues contributed to their success?  What role should communities play in retaining or attracting teams? How much should professional athletes be paid?  Do owners prefer profits over wins?  Does discrimination exist in college sports?  Has doping helped or hindered the popularity of sports?  Upon completion of this course, you will enjoy watching sports through the eyes of an economist

ECON 056: Asia and the West
Social & Behavioral Science/Other (SS)
Steven Rosefielde
This course aligns the “Carolina Entrepreneurial Initiative (CEI),” with the communication intensive, “global issues” framework.  This is accomplished by 1) introducing students to the Schumpeterian concept of entrepreneurship predicated on assumptions of democratic free enterprise, 2) investigating whether global economic growth and development are correlated with it, 3) showing how Schumpeterian assumptions don’t apply in most non-western systems and cultures, 4) exploring cultural and institutional surrogates in these nations, and 5) considering the impact of entrepreneurial diversity on international relations.