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Courses - Fall 2017
ECON
Economics Department Site
ECON111
Thinking Like an Economist
Credits: 3
Grad Meth: Reg
GenEd: DSHS, SCIS
Restriction: Sophomore standing or lower; or permission of BSOS-Economics department.
An introduction to the modes of thought of economics. Use of simple standard tools of economics to analyze important problems that arise frequently in public policy, the news media, and in daily life. An emphasis on how economists predict what choices societies make and how economists analyze whether those are good choices. Practical application of a variety of economic tools leading to a focus on the essential unity underlying these analytical tools, viewing economics as a discipline that applies a core methodology in different ways in different situations.
ECON181
Incentives for Sustainability: An Economist's Perspective
Credits: 3
Grad Meth: Reg, P-F, Aud
GenEd: DSHS, SCIS
How does society balance the benefits of environmental protection and preservation against the costs? Though some might say that the environment is priceless, economists recognize that every action involves trade-offs. This course investigates sustainability through comparing costs and benefits. From this perspective, other questions arise: How can we design policies that incentivize sustainable choices? Why might usual market functioning fail to achieve sustainability? Do we need to put a price on the environment in order to protect it? How do we measure an economy's "success"? This course explores the answers to these and other related questions from an economist's perspective.
ECON200
Principles of Microeconomics
Credits: 3
Grad Meth: Reg, P-F, Aud
CORE: SB
GenEd: DSHS
Prerequisite: MATH107 or MATH110; or must have math eligibility of MATH113 or higher.
Credit only granted for: ECON200, AREC240, or AREC250.
Additional information: It is recommended that students complete ECON200 before taking ECON201.
Introduces economic models used to analyze economic behavior by individuals and firms and consequent market outcomes. Applies conceptual analysis to several policy issues and surveys a variety of specific topics within the broad scope of microeconomics.
ECON201
Principles of Macroeconomics
Credits: 3
Grad Meth: Reg, P-F, Aud
CORE: SB
GenEd: DSHS
Prerequisite: MATH107 or MATH110; or must have math eligibility of MATH113 or higher.
Recommended: ECON200.
Credit only granted for: ECON201 or ECON205.
An introduction to how market economies behave at the aggregate level. The determination of national income/output and the problems of unemployment inflation, will be examined, along with monetary and fiscal policy.
ECON230
Applied Economic Statistics
Credits: 3
Grad Meth: Reg
Prerequisite: Must have math eligibility of MATH113 or higher; or 1 course with a minimum grade of C- from (MATH107, MATH110). And minimum grade of C- in ECON200 and ECON201.
Recommended: Students should already have basic familiarity with Microsoft Excel or similar spreadsheet software.
Restriction: Must be in Economics Bachelor of Arts program.
Credit only granted for: BIOM301, BMGT230, CCJS200, ECON230, ECON321, EDMS451, GEOG306, GEOL351, GVPT422, INST314, JOUR405, PSYC200 or SOCY201. (These courses do not necessarily meet the same major requirements-check with your advisor to see which of these courses will count for your major).
Introductory course to develop understanding of statistical concepts used in applied economics. Students will acquire skills needed to calculate and interpret statistical concepts, including descriptive statistics, probability, discrete and continuous distributions, sampling, point and interval estimations, hypothesis testing, basic analysis of variance, and simple linear regression models. Students will apply these concepts to data using both handheld calculators and spreadsheets(Excel), and students will be introduced to an econometric software package such as SPSS or SAS or R.
ECON305
Intermediate Macroeconomic Theory and Policy
Credits: 3
Grad Meth: Reg, P-F
Prerequisite: Minimum grade of C- in ECON201 and ECON200. And 1 course with a minimum grade of C- from (MATH120, MATH140, MATH130); or must have completed MATH220 with a minimum grade of C-.
Credit only granted for: ECON305 or ECON325.
Analysis of the determination of national income, employment, and price levels. Discussion of consumption, investment, inflation, and government fiscal and monetary policy.
ECON306
Intermediate Microeconomic Theory & Policy
Credits: 3
Grad Meth: Reg, P-F
Prerequisite: 1 course with a minimum grade of C- from (ECON200, AREC250); and minimum grade of C- in ECON201. And 1 course with a minimum grade of C- from (MATH120, MATH140, MATH130); or must have completed MATH220 with a minimum grade of C-.
Credit only granted for: ECON306, ECON326, AREC489M, or AREC326.
Analysis of the theories of consumer behavior, producer behavior, different market structures, and various sources of inefficient outcomes. Analysis of microeconomic policies designed to improve market outcomes.
ECON311
American Economic History Before the Civil War
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200 and ECON201.
Restriction: Must be in Economics Bachelor of Arts program.
Economic concepts are used to analyze various aspects of the founding and early history of the U.S., including the British settlement of the North American colonies, the economics of the American Revolutionary war, the writing of the Constitution, the development of financial markets, policies on public lands and the spread of western agriculture, slavery, banking, and early industrialization.
ECON312
American Economics After the Civil War
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200 and ECON201.
Restriction: Must be in Economics Bachelor of Arts program.
Topics include: the economics of the Civil War, the performance of southern agriculture in the late 19th century, the rise of large corporations, industrialization, the development of financial markets, the creation of the Federal Reserve Board, the economics of the Great Depression and the New Deal, the economic impact of World War II, and the rise of the modern service economy in the late 20th century.
ECON315
Economic Development of Underdeveloped Areas
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200 and ECON201.
Credit only granted for: ECON315 or ECON416.
Analysis of the economic and social characteristics of underdeveloped areas. Recent theories of economic development, obstacles to development, policies and planning for development.
ECON317
Global Economic Policies
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200 and ECON201.
Restriction: Must be in Economics Bachelor of Arts program.
Analysis of policy options and debates on fostering economic growth and development in a global economy where national boundaries are no longer relevant. Topics covered will include real loanable funds markets in both local and international contexts during normal conditions and during financial crises, the design of trade and industrial policies, and the role of the World Bank, IMF, WTO, and other international agencies as well as regional and bilateral trade agreements. Emerging economies will be emphasized.
ECON321
Economic Statistics
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON201 and ECON200; and minimum grade of C- in MATH141.
Recommended: STAT100.
Restriction: Must be in Economics Bachelor of Science program.
Credit only granted for: BIOM301, BMGT230, CCJS200, ECON230, ECON321, EDMS451, GEOG306, GEOL351, GVPT422, INST314, JOUR405, PSYC200 or SOCY201. (These courses do not necessarily meet the same major requirements-check with your advisor to see which of these courses will count for your major).
Introduction to the use of statistics in economics. Topics include: Probability, random variables and their distributions, sampling theory, estimation, hypothesis testing, analysis of variance, regression analysis and correlation.
ECON325
Intermediate Macroeconomic Analysis
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200, ECON201, and MATH141.
Restriction: Must be in Economics Bachelor of Science program.
Credit only granted for: ECON305 or ECON325.
Analysis of macroeconomic behavior and policy with emphasis on theoretical rigor. Topics include the determinants of economic growth, unemployment, inflation, and international economic flows.
ECON326
Intermediate Microeconomic Analysis
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200, ECON201, and MATH141.
Restriction: Must be in Economics Bachelor of Science program.
Credit only granted for: ECON306, ECON326, AREC326, or AREC489M.
Analysis of economic decision-making by individual buyers and sellers, and resulting market outcomes, with emphasis on theoretical rigor. The efficient properties of perfect competition are examined, followed by consideration of market power, externalities, and asymmetric information.
ECON330
Money and Banking
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200 and ECON201.
The structure of financial institutions and their role in the provision of money and near money. Analysis of the Federal Reserve System, the techniques of central banks, and the control of supply of financial assets in stabilization policy. Relationship of money and credit to economic activity and the price level.
ECON340
International Economics
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200 and ECON201.
Credit only granted for: ECON340 or ECON441.
Introduces economic models of international trade and finance. Analyzes policies designed to promote and restrict international trade and to manage exchange rates and impact international capital flows.
ECON386
(Perm Req)
Experiential Learning
Credits: 3
Grad Meth: S-F
Prerequisite: ECON201 and ECON200.
Restriction: Permission of BSOS-Economics department; and must be in a major within the BSOS-Economics department; and minimum cumulative GPA of 2.5; and junior standing or higher.
See Department Advising Office for course eligibility, course requirements, and application information.
Contact department for information to register for this course.
ECON396
(Perm Req)
Independent Honors Study
Credits: 3
Grad Meth: Reg, P-F, Aud
Restriction: Permission of BSOS-Economics department.
First semester of the departmental honors sequence. Students will develop and apply research skills required to carry out original research. By the end of the semester students will have produced a complete draft of an honors thesis resembling a scholarly journal article.
ECON398J
Topics in Economics; The History of Economic Policy in Palestine/Israel
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: ECON201. Also offered as ISRL329F. Credit granted for ECON398J or ISRL329F. This course examines economic policy in Palestine/Israel from 1909 (under Ottoman rule) through the British Mandate (1922-48) until 1988, when the current neo-liberal economic policy began. It will examine how the governments and society dealt with issues such as growth versus equality (distributive justice); ideology versus praxis; local original policy versus imported policy; and politics versus academic economics who decides and under what circumstances?
ECON399
(Perm Req)
Independent Study in Economics
Credits: 1 - 3
Grad Meth: Reg, P-F
Prerequisite: Minimum grade of C- in ECON200 and ECON201. Restriction: Permission of BSOS-Economics department. Repeatable to 6 credits if content differs.

Integrated readings and independent study under direction and supervision of a faculty member. Contact department for additional information.
Contact department for information to register for this course.
ECON401
Current Issues in American Economic Policy
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON305, ECON325); and 1 course with a minimum grade of C- from (ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321).
Recommended: Prior experience with Microsoft Excel or similar spreadsheet software.
Restriction: Must be in Economics Bachelor of Arts program.
Analysis of current economic problems and public policies. Topics include increasing competitiveness, mitigating poverty, addressing harmful effects of income inequality, promoting environmental sustainability, and facilitating economic stability and growth.
ECON402
Macroeconomic Models and Forecasting
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON305, ECON325); and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321).
Restriction: Must be in Economics Bachelor of Arts program.
Analysis of the fluctuations in economic activity and the formulation and use of forecasting models of the economy. Illustrations of computer macro models and forecasting problems.
ECON406
Advanced Microeconomics
Credits: 3
Grad Meth: Reg
Prerequisite: Minimum grade of C- in ECON326; and 1 course with a minimum grade of C- from (ECON321, STAT400).
Restriction: Must be in Economics Bachelor of Science program.
Expands on the assumptions of rational decision-making used in intermediate microeconomics and develops more complicated, more realistic models which address uncertainty, intertemporal choices, strategic interactions, social preferences and considerations of what is fair.
ECON412
Economic History and Modern Development
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON325 and ECON326.
Restriction: Must be in Economics Bachelor of Science program.
Analysis of major economic, political, and social change in the developed world since 1800. This includes factors contributing to increases in economic performance, changes in the form of government, technological change (including industrialization), and integration and disintegration of the global economy. Emphasis is on institutional changes in how societies organize economic and political activities.
ECON414
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321, STAT400).
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science).
Credit only granted for: CMSC474, ECON414, GVPT399A or GVPT390.
Studies the competitive and cooperative behavior that results when several parties find that their individual outcomes are jointly determined. Students will learn how to use game theory to analyze situations of potential conflict. Applications are drawn from economics, business, and political science.
ECON415
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON414.
Restriction: Must be in Economics Bachelor of Science program.
Focuses on recent developments in the design of markets to improve economic performance and to open new economic opportunities. It is divided into three main segments -- auction design, the design of matching mechanisms, and antitrust theory and policy.
ECON422
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON325, ECON326); and 1 course with a minimum grade of C- from (STAT400, ECON321).
Restriction: Must be in Economics Bachelor of Science program.
Credit only granted for: ECON422, ECON424, AREC422, or AREC489F.
Emphasizes the interaction between economic problems and the assumption employed in statistical theory. Formulation, estimation, and testing of economic models, including single variable and multiple variable regression techniques, theory of identification, and issues relating to inference.
ECON423
Econometrics II
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON422.
Restriction: Must be in Economics Bachelor of Science program.
Interaction between economic problems and specification and estimation of econometric models. Topics include issues of autocorrelation, heteroscedasticity, functional form, simultaneous equation models, qualitative choice models, and other computational methods.
ECON424
Applied Econometrics
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON305, ECON306, ECON325, ECON326); and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321).
Restriction: Must be in Economics Bachelor of Arts program.
Credit only granted for: ECON422 or ECON424.
Provide the knowledge and skills necessary to accomplish and utilize basic applied econometric analysis utilized by many business service providers, government agencies, and nonprofits engaged in policy analysis. Topics include simple and multiple regressions using cross section, time series, and panel data, issues of heteroskedasticity, serial correlation, and multicollinearity, models with binary dependent variable, and program evaluation. Course emphasizes application of knowledge using software packages but still covers essential theoretical background.
ECON426
Economics of Cost-Benefit Analysis
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON305, ECON306, ECON325, ECON326); and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321).
Restriction: Must be in Economics Bachelor of Arts program.
Credit only granted for: ECON398A or ECON426.
Formerly: ECON398A.
Study of how to use cost benefit analysis and other similar tools of applied microeconomics to conduct policy analyses. Cost-benefit analysis is an empirical method of identifying an optimal choice from a set of policy alternatives, where optimal is defined in terms of economic efficiency. Real world examples are addressed, so that students understand limitations of the methods and also interactions of economic analysis with political and administrative processes.
ECON435
Financial Markets and the Macroeconomy
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON305, ECON325); and 1 course with a minimum grade of C- from (ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321).
Restriction: Must be in Economics Bachelor of Arts program; and must not have completed BMGT343.
Credit only granted for: BMGT343 or ECON435.
Additional information: Finance majors will not receive credit for ECON435.
The different types of financial assets that exist, the markets that they trade in, and the determination of their prices and rates of return are examined. Specific topics that will be covered include the Markowitz portfolio selection model, the capital asset pricing model, the arbitrage pricing theory, the efficient markets hypothesis, the term structure of interest rates, and options. There will be almost no emphasis on issues in corporate finance.
ECON442
Globalization and Capital Markets
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON326 and ECON325; and 1 course with a minimum grade of C- from (ECON321, STAT400).
Restriction: Must be in Economics Bachelor of Science program; and must not have completed ECON441.
Credit only granted for: ECON441 or ECON442.
Uses models of open-economy macroeconomics to explain the causes and consequences of international capital flows. Analysis is made of private consumption, investment, the government sector, current accounts, the labor market, and the money and foreign exchange markets in small open economies. This framework is then used to study examples of how speculative attacks on currencies, sudden reversals of capital inflows, and the effects of the lack of credibility of economic policy affect economic development.
ECON443
International Trade and Trade Policy in the New Global Economy
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON305, ECON325); and 1 course with a minimum grade of C- from (ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321).
Restriction: Must be in Economics Bachelor of Arts program; and must not have completed ECON441.
Credit only granted for: ECON441 or ECON443.
Examines the economics of international economic integration, including the theory of customs unions and free trade areas, the role of GATT and the WTO, changes in individual countries' foreign trade policies during the new era of globalization, the special role of multinational firms in world trade, and recent controversies about the benefits and costs of globalized trade.
ECON451
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321).
Restriction: Must be in Economics Bachelor of Arts program.
Analysis of collective decision making, economic models of government, program budgeting, and policy implementation; emphasis on models of public choice and institutions which affect decision making.
ECON454
Public Finance and Public Policy
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: Minimum grade of C- in ECON326; and 1 course with a minimum grade of C- from (ECON321, STAT400).
Restriction: Must be in Economics Bachelor of Science program.
The role of the the public sector in a market economy constitutes the over-arching topic of this course. Emphasis lies on analyzing government expenditure programs and the microeconomics of tax policy.
ECON456
Law and Economics
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321).
Restriction: Must be in Economics Bachelor of Arts program.
Relationship of the exchange process to the system of institutions and rules that society develops to carry out economic transactions. Topics covered include: Property rights; torts, negligence, and liability; contracts and exchanges; criminal control and enforcement; equity and efficiency issues .
ECON460
Industrial Organization
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON326; and 1 course with a minimum grade of C- from (ECON321, STAT400).
Restriction: Must be in Economics Bachelor of Science program.
Examines different theoretical models of firm behavior in markets with varying amounts of market power. Relates theory to specific industries and examines how market structure evolves over time.
ECON461
Economics of Regulation and Anti-trust
Credits: 3
Grad Meth: Reg
Prerequisite: 1 course with a minimum grade of C- from (ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321).
Restriction: Must be in Economics Bachelor of Arts program.
Considers government intervention in economic activity of three types: antitrust policy, regulation of natural monopolies, and health safety regulation. Covers theoretical models, real-world policy applications, and empirical studies relevant to the impact of regulation.
ECON462
Economics of Entrepreneurship
Credits: 3
Grad Meth: Reg
Prerequisite: Minimum grade of C- in ECON422.
Restriction: Must be in Economics Bachelor of Science program.
Credit only granted for: ECON398O or ECON462.
Formerly: ECON398O.
Economic theory highlights the role of entrepreneurs in fueling economic growth and accomplishing reallocation of resources in response to changes in preferences, technology, demographics, and resource. This course uses empirical evidence to examine the extent to which these predictions are valid. To more fully understand the motivations and constraints relevant to entrepreneurs, student will write a business plan as if s/he were starting a new business.
ECON471
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON306, ECON326); and minimum grade of C- in ECON424.
Restriction: Must be in Economics Bachelor of Arts program.
Credit only granted for: ECON470 or ECON471.
Central topics include the determinants of firms' demand for labor and households' decision making about whether to work, how much to work, and where to work. We will then study the equilibrium amount of labor hired in society and the wages paid to workers. The course will also include the measurement of the labor market, human capital, discrimination, incentives, and current changes in the American economic landscape. Various economic policies impacting labor markets will be analyzed.
ECON488K
(Perm Req)
Applied Market Research Practicum; Kaulkin Ginsberg Research Fellow
Credits: 2
Grad Meth: S-F
ECON490
Urban & Regional Economics: Issues and Policies
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON321, BMGT230, ECON230).
Restriction: Must be in Economics Bachelor of Arts program.
Credit only granted for: ECON398I or ECON490.
Formerly: ECON398I.
Exploration of urban and regional economics and policies, including economic forces leading to formation of city and regional networks. Conceptual and empirical analysis of policies affecting land use, housing, transportation and other aspects of sub-national economic development.
ECON499
(Perm Req)
Independent Research in Economics
Credits: 1 - 3
Grad Meth: Reg, P-F
Prerequisite: 1 course with a minimum grade of C- from (ECON230, ECON321, BMGT230, STAT400); and 1 course with a minimum grade of C- from (ECON305, ECON325); and 1 course with a minimum grade of C- from (ECON306, ECON326); and minimum of 3 credits from ECON400-499 course range. Restriction: Permission of BSOS-Economics department. Repeatable to 6 credits if content differs.

Directed research under the supervision of a faculty member. Contact department for additional information.
Contact department for information to register for this course.
ECON601
(Perm Req)
Macroeconomic Analysis I
Credits: 3
Grad Meth: Reg, Aud
Restriction: Permission of BSOS-Economics department.
Introductory technical treatment of standard Keynesian, classical and new classical macroeconomic models. Expectations formation and microeconomic foundations of consumption, investment, money demand, and labor market behavior.
ECON603
(Perm Req)
Microeconomic Analysis I
Credits: 3
Grad Meth: Reg, Aud
Restriction: Permission of BSOS-Economics department.
A detailed treatment of the theory of the consumer and of the firm, particularly emphasizing the duality approach. Topics include the household production model, imperfect competition, monopolistic and oligopolistic markets.
ECON616
Economic Development II
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON615, ECON603, and ECON604; or permission of BSOS-Economics department.
Survey of a variety of models explaining how market failures may lead to poverty and underdevelopment, with an emphasis on the empirical evaluation of constraints faced by individuals in developing countries and the programs that attempt to alleviate those constraints. Topics include: agricultural and land markets, labor markets, human capital in developing countries, credit markets, and consumption smoothing and risk coping.
ECON623
(Perm Req)
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: Must have advanced knowledge of probability, statistics, and linear algebra.
Restriction: Permission of BSOS-Economics department.
Specification, estimation, hypothesis testing and prediction in the classical and generalized linear regression model. Topics include: ordinary least squares, generalized least squares, instrumental variableestimation, quantile regression, finite and large sample analysis and general testing principles including misspecification tests. The course will also provide instructions on the use of a major statistical packagesuch as Stata or TSP.
ECON625
Computational Economics
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON604 and ECON624.
Credit only granted for: ECON625 or ECON698R.
Formerly: ECON698R.
An examination of the specification, computation, estimation and interpretation of structural models that are widely used in applied microeconomics (empirical and theoretical Industrial Organization, public and urban economics, environmental economics, development, political economy (e.g., voting), health and education economics, trade) and Marketing. The focus will be on how to use these models in practice, and students will solve and estimate models in weekly problem sets, with solutions/code being discussed in class.
ECON626
(Perm Req)
Empirical Microeconomics
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON624.
Restriction: Must be in Economics (Doctoral) program.
To provide students with the opportunity to use empirical techniques that are particularly valuable in the analysis of microeconomic data. Topics include panel data, nonlinear optimization, limited dependent variables, truncated, censored, selected samples, the analysis of natural experiments, and quantile regressions. This course will emphasize hands-on practical experience.
ECON630
(Perm Req)
Computational Methods in Macroeconomics
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON602 and ECON601.
Restriction: Must be in one of the following programs (Economics (Master's); Economics (Doctoral)) ; or permission of BSOS-Economics department.
Essential computational methods used in macroeconomics. There will be particular focus on approximating the solution to dynamic stochastic general equilibrium models. Methods for representative-agent and heterogeneous-agent models will be extensively studied. Econometric methods such as Generalized Method of Moments, Maximum Likelihood, Vector Autoregressions wil also be covered.
Beginning on Fri, October 23rd, students will need to attend an evening meeting from 5:30p-830p.
ECON635
Experimental Economics
Credits: 3
Grad Meth: Reg, Aud
Restriction: Permission of instructor.
An introduction to the methodology of laboratory and field experiments. The course concentrates on a series of experiments to show how experiments build on one another, allowing researchers with different theoretical dispositions to narrow the range of potential disagreement.
ECON641
Microeconomic Analysis
Credits: 3
Grad Meth: Reg, Aud
Restriction: Must be in M.Prof.Studies: Applied Economics program; or permission of BSOS-Economics department.
Credit only granted for: ECON641 or ECON506.
Formerly: ECON506.
Microeconomic analysis applied to public policy problems with an emphasis on practical examples and how they illustrate microeconomic theories. Policy issues such as pollution, welfare and income distribution, market design, industry regulation, price controls, tax policy and health insurance are practical examples used to illustrate the abstract principles of microeconomics.
ECON642
Topics in Applied Macroeconomics
Credits: 3
Grad Meth: Reg, Aud
Restriction: Must be in M.Prof.Studies: Applied Economics program; or permission of BSOS-Economics department.
Focus is on applied macroeconomic models used by federal agencies to explain and predict economic behavior. Course emphasizes macroeconomic data: NIPA accounts, GDP, construction and application of CPI, labor force data and economic indicators. Students will also study a selected set of current macroeconomic topics including models of economic growth, economic fluctuations, monetary policy, inflation and financial markets.
ECON643
Empirical Analysis I: Foundations of Empirical Research
Credits: 3
Grad Meth: Reg, Aud
Credit only granted for: ECON643 or ECON521.
Formerly: ECON521.
Fundamental aspects of data management and interpretation emphasizing sampling, descriptive statistics, index numbers and construction of aggregated variables. Students will learn probability theory, confidence intervals, hypothesis testing and regression analysis using the EXCEL spreadsheet program and STATA statistical software.
ECON645
Empirical Analysis III: Econometric Modeling and Forecasting
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON644.
Credit only granted for: ECON645 or ECON523.
Formerly: ECON523.
Study of empirical techniques that are particularly relevant to the analysis of microeconomic models. Emphasis is on advanced panel data methods, time series regressions, instrumental variables, limited dependent variables, and sample selection corrections.
ECON652
Public Economics I
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON604 and ECON624.
The characteristics and effects of government programs whose role is redistribution and social insurance are considered. Examples include cash welfare assistance, unemployment insurance, and Social Security. The focus is on U.S. programs, though other countries may be considered. Both theories of program design and empirical research on program effects will be covered. Topics in empirical methodology generally will also be stressed.
ECON662
Theories of Industrial Organization
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON604 and ECON603.
Classical theories of industry organization are analyzed. Topics includ monopoly price discrimination, product differentiation and bundling as well as traditional oligopoly models of Cournot and Bertrand are examined. Dynamic models of oligopoly including entry deterrence and collusion are discussed in addition to games of research and development. Long-run industry structures and dynamics are also analyzed. Also investigates implications of these models for antitrust policy.
ECON670
Financial Economics
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: ECON641; and must have completed or be concurrently enrolled in ECON644.
Restriction: Must be in M.Prof.Studies: Applied Economics program.
The course applies microeconomic theory and applied econometric techniques to the study of financial institutions and markets for financial assets. Students will learn how economists model and estimate the value of financial assets. The economic and empirical models are of interest to public policy makers and private wealth managers. Specific topics can include financial intermediation, the regulation of financial institutions, risk management, portfolio theory, the capital asset pricing model and the efficient markets hypothesis.
ECON671
Economics of Health Care
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: ECON641; and must have completed or be concurrently enrolled in ECON645.
Credit only granted for: ECON671 or ECON565.
Formerly: ECON565.
An examination of the structure, conduct and performance of the health care market, including a study of physician services, the pharmaceutical industry, the hospital market and health insurance. Extensive use of quantitative and analytic economic tools with special emphasis on regulatory response to market imperfections.
ECON673
Information, Game Theory and Market Design
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON641; and must have completed or be concurrently enrolled in ECON644.
A study of the strategic decision-making and the theory and practice of market design. Focus is on the design of organized market and incentives created by market rules. Topics include online auction markets, government auctions procurement auctions and matching markets. The analysis includes documenting the rules of real-world markets, game theoretic analysis, empirical analysis, and experimental work.
ECON675
Environmental Economics
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON641; and must have completed or be concurrently enrolled in ECON645.
A study of the nature of environmental regulation focusing on U.S. environmental policies and policy debates.
ECON676
Economic Development
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON641; and ECON642; and must have completed or be concurrently enrolled in ECON644.
Restriction: Must be in M.Prof.Studies: Applied Economics program.
Analysis of economic development. The course will focus on the consequences of poverty and poor institutions for the behavior and welfare of individuals, households, firms and the aggregate economy in developing countries. Theoretical models and empirical evidence will be used to understand the intended and unintended consequences of policies designed to enhance economic development.
ECON683
International Macroeconomics and Finance
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: ECON641 and ECON642; and must have completed or be concurrently enrolled in ECON644.
Restriction: Must be in M.Prof.Studies: Applied Economics program.
Economic analysis of international macroeconomic issues and policy. Topics can include the study of exchange rates, balance of payments, international financial markets, international business cycles, contagion, and the roles played by international economic institutions.
ECON698
(Perm Req)
Selected Topics in Economics
Credits: 3
Grad Meth: Reg, Aud
Contact department for information to register for this course.
ECON701
Advanced Macroeconomics I
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON602 and ECON601.
Recent developments in macroeconomics with an emphasis on topics and techniques useful for conducting research in macroeconomics. Topics include advanced treatment of fiscal and monetary policy issues; the role of imperfect competition; real, sectoral and nominal business cycle models.
ECON703
Advanced Microeconomics I
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON604 and ECON603.
Formal treatment of game theory and its microeconomic applications are presented, emphasizing dynamics and information. Equilibrium concepts for static and dynamic games, and games with complete and incomplete information are studied. Topics also discussed: mechanism design, efficiency, reputations, signaling, and screening.
ECON708
(Perm Req)
Advanced Topics in Applied and Theoretical Microeconomics
Credits: 2
Grad Meth: Reg, Aud
ECON709
(Perm Req)
Advanced Topics in Applied and Theoretical Macroeconomics
Credits: 2
Grad Meth: Reg, Aud
ECON721
Econometrics III
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON624; or permission of BSOS-Economics department.
Oriented towards macro-econometric methods. Topics covered will be selected from the following: Further discussion of topics covered in ECON624, nonlinear time series models, exogeneity and causality, non-stationary time series models (unit roots, co-integration, error correction models, vector autoregressive models), econometric models of volatility (ARCH and GARCH models, and Stochastic volatility models), rational expectations models, non-stationary panel data models, tests for structural change, Bayesian econometrics and methods for Bayesian computation.
ECON741
Advanced International Economics I
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON601; or permission of BSOS-Economics department.
Exchange rate determination; exchange rate regimes; international monetary reform; policy conflict and cooperation; the LDC debt problem; pricing of international assets; balance of payments crises.
ECON742
Advanced International Economics II
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON603; or permission of BSOS-Economics department.
Comparative advantage, Heckscher-Ohlin theory, specific-factors model, empirical verification, economies of scale, imperfect competition, commercial policy, factor mobility.
ECON754
Topics in Political Economy I
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON602 and ECON604; or permission of BSOS-Economics department.
Study of political determinants of macroeconomic outcomes. Time inconsistency in monetary and fiscal policy, political business cycles. Political models of redistribution, delay in reform, transition, growth, and international policymaking.
ECON771
Advanced Labor Economics: Theory and Evidence
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON603 and ECON624; or permission of BSOS-Economics department.
Modern analytical and quantitative labor economics. Labor supply decisions of individuals and households; human capital model and distribution of income. Demand for labor; marginal productivity theory, imperfect information and screening. Interaction of labor demand and supply; unemployment; relative and absolute wages; macroeconomic aspects of the labor market.
ECON785
Advanced Economics of Natural Resources
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON603, ECON604, and ECON624.
The use of exhaustible and renewable natural resources from normative and positive points of view. Analysis of dynamic resource problems emphasizing energy, mineral, groundwater, forestry, and fishery resources; optimal, equilibrium, and intergenerational models of resource allocation.
Also offered as AREC785. Credit will be granted for one of the following: AREC785 or ECON785.
ECON799
Master's Thesis Research
Credits: 1 - 6
Grad Meth: Reg
Contact department for information to register for this course.
ECON808
Workshop on Macroeconomics and Growth; Workshop in Applied Economics
Credits: 2
Grad Meth: S-F, Aud
ECON848
Workshop in International Development, and Comparative Economics
Credits: 2
Grad Meth: S-F, Aud
ECON868
Workshop in Industrial Organization
Credits: 2
Grad Meth: S-F, Aud
ECON878
Workshop in Labor Economics
Credits: 2
Grad Meth: S-F, Aud
ECON898
(Perm Req)
Pre-Candidacy Research
Credits: 1 - 8
Grad Meth: Reg
Contact department for information to register for this course.
ECON899
(Perm Req)
Doctoral Dissertation Research
Credits: 6
Grad Meth: Reg
Contact department for information to register for this course.