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Courses - Spring 2019
ECON
Economics Department Site
ECON181
Putting a Price on the Environment: An Economist's Perspective on Sustainability
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, P-F, Aud
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, MATH130, MATH136, MATH140); 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, MATH130, MATH136, MATH140); 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.
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.
ECON387
Career Preparation for Economics Majors
Credits: 2
Grad Meth: Reg
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 ECON400-499 course range.
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science).
Increase student knowledge of career paths, job search tools, and strategies for successfully obtaining a job with a BA or BS in economics. Students will engage in a range of different activities which build their understanding of job opportunities in economics and hone their abilities to find positions they want. Students will reflect on specific skills employers seek from economics graduates and incorporate that knowledge in their own individual job search and career plan.
ECON397
(Perm Req)
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: ECON396.
Restriction: Must be a candidate for honors in economics.
General supervision will be provided through assembled meetings with the professor in charge of the course.
ECON399
(Perm Req)
Independent Study in Economics
Credits: 1 - 3
Grad Meth: Reg, P-F
Permission of instructor must be arranged in advance. Open only to students who have previously earned 6 or more credits in upper division economics courses.
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 (ECON424, ECON422).
Restriction: Must be in Economics Bachelor of Arts program.
Analysis of current economic problems and public policies. Topics could include poverty, income inequality, social insurance, education, environmental sustainability, immigration, and innovation. Other issues may be substituted depending on current events.
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, 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.
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.
ECON407
Advanced Macroeconomics
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON325; and 1 course with a minimum grade of C- from (ECON321, STAT400).
Restriction: Must be in Economics Bachelor of Science program.
An in-depth analysis of current issues in macroeconomic theory and policy. Topics covered include: 1. alternative perspectives on macroeconomics including monetarism, new classical equilibrium models, rational expectations, and real business cycle models; 2. long term growth, the slowdown in productivity growth, and concerns about U.S. competitiveness; 3. the effectiveness of macroeconomic policy in an open economy; 4. the effects of finance on the real sector.
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.
ECON416
Analysis of Economic Development
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON325, ECON326, and ECON422.
Restriction: Must be in Economics Bachelor of Science program.
Credit only granted for: ECON315 or ECON416.
Analysis of the determinants and influences on economic development. Emphasis on both theoretical models and econometric methods of explaining why some countries are poor, along with examination of policies to promote development.
ECON418L
Economic Development of Selected Areas; Latin America
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 the Economics Bachelor of Arts program. Using examples from different historical and geographic contexts, students will analyze both the diversity and the commonalities of economic outcomes in Latin America, with an emphasis on institutional patterns. The class analyzes the divergence between North America and Latin America since the 1700s; surveys Latin America's economic history; reviews the regions recent economic experience with macroeconomic crises and their interaction with the political sphere; and explores current topics in the regions economic development, like the war on drugs and the rise of leftist policies.
ECON418M
Economic Development of Selected Areas; Middle East
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. Analyzes patterns of economic and institutional development in the Middle East; assesses the general trends in economic growth, investment, and institutional changes; and examines specific issues such as population and human development, economics and politics of oil and trade, the structure of state and its role in economic development, financial markets and Islamic banking, and business environment.
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.
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.
ECON427
Experimental Economics
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.
Credit only granted for: ECON398X or ECON427.
Formerly: ECON398X.
An introduction to the methodology of experimental economics and its application to issues such as decision-making under uncertainty, auctions, and public goods. Also an introduction to behavioral economics as a relatively new area of economic research.
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.
ECON436
Financial Econometrics
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON325 and ECON422.
Restriction: Must be in Economics Bachelor of Science program.
An introduction to financial econometrics, which is data science applied to understanding the financial system. Students will learn modern techniques in financial econometrics with an emphasis on the interaction between modeling (theory) and empirical analysis. Topics include relevant economic theory, optimization techniques, probability models, statistical analysis, and use of statistical software.
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.
ECON444
Research in Globalization
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON326 and ECON422.
Restriction: Must be in Economics Bachelor of Science program.
Credit only granted for: ECON498G or ECON444.
Formerly: ECON498G.
As globalization continues, individual countries must confront a variety of related issues including rising inequality, decline of domestic industries, climate change, and disputes over intellectual property rights. Various economic models and research methods will be covered to develop the analytic and empirical skills needed to perform independent research in globalization. Students will prepare literature reviews, conduct preliminary empirical investigations using STATA, and produce well-designed research proposals.
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.
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 .
ECON463
Economics of Sports
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 Economics Bachelor of Arts program.
The application of theoretical and empirical economic tools to the sports industry, including competition at professional,collegiate, and international levels. Microeconomic models from labor, industrial organization and public finance will be applied to the sports industry and combined with data from sports markets, providing students with opportunities to produce and interpret economic analysis. The topic of discrimination will also be explored in the context of this particular economic activity.
ECON470
Labor Economics:Theory and Evidence
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.
An analytical treatment of theories of labor markets, and an examination of empirical findings, evidence and conclusions. Topics covered will include some or all of the following: labor demand; labor supply and labor market participation; theory of human capital; earnings differentials; and if time allows, market structure and the efficiency of labor markets; and unemployment.
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.
ECON481
Environmental 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, ECON321, BMGT230).
Restriction: Must be in Economics Bachelor of Arts program.
Credit only granted for: ECON481 or AREC481.
An exploration of the use of economic incentives for protection of the environment and the determination of appropriate (or efficient) level of environmental quality. Also covers the choice of policy instruments for the attainment of environmental standards.
ECON488C
(Perm Req)
Applied Market Research Practicum; FLOAT Service Learning
Credits: 2
Grad Meth: S-F
This course is part of the Financial Literacy Outreach and Training (FLOAT) program. Permission to enroll based on successful completion of ECON488L.
ECON488K
(Perm Req)
Applied Market Research Practicum; Kaulkin Ginsberg Research Fellow
Credits: 2
Grad Meth: S-F
Permission for this practicum is based on an approved application. For more information about course requirements and application please contact ECON Advising.
ECON488W
(Perm Req)
Applied Market Research Practicum; Wealth Management Fundamentals
Credits: 2
Grad Meth: S-F
Permission for this practicum is based on an approved application. For more information about course requirements and application please contact ECON Advising.
ECON499
(Perm Req)
Independent Research in Economics
Credits: 1 - 3
Grad Meth: Reg, P-F
Contact department for information to register for this course.
ECON602
(Perm Req)
Macroeconomic Analysis II
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON601; or permission of BSOS-Economics department.
Further issues regarding macroeconomic topics. First half emphasis will be placed on dynamic macroeconomic theory as pertaining to monetary issues, policy ineffectiveness and effectiveness. The second half of the course will focus on theories of investment and growth.
ECON604
(Perm Req)
Microeconomic Analysis II
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON603.
Restriction: Permission of BSOS-Economics department.
Analysis of markets and market equilibria; the Arrow-Debreu model of general equilibrium, the two-sector model, welfare theorems, externalities, public goods, markets with incomplete and asymmetric information.
ECON611
(Perm Req)
Seminar in American Economic Development
Credits: 3
Grad Meth: Reg, Aud
Restriction: Permission of BSOS-Economics department.
Selected topics in the long-term movements of the American economy. Quantitative studies of the growth of output; applications of econometric methods and economic theory to topics in American economic history.
ECON615
Development Economics I
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON603; or permission of BSOS-Economics department.
Explore both the causes and consequences in development economics from a historical and scientific approach. Presents theoretical models and applied work that test alternative hypotheses. Explore models of economic growth and institutions, with emphasis on property rights and political regimes as causal factors affecting development. Discuss empirical methods widely used in the field and important related topics including poverty, inequality, education and health.
ECON624
(Perm Req)
Econometrics II
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON623; or permission of BSOS-Economics department.
A continuation of ECON623. Topics include: Nonlinear models and nonlinear estimation methods (generalized method of moments and maximum likelihood estimation), panel data models, univariate dynamic models, multivariate dynamic models including simultaneous equation models, and non-parametric/semiparametric estimation methods. The course will also provide instructions on the use of a major statistical package such 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.
ECON636
(Perm Req)
Behavioral Economics
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON603 and ECON604; and permission of BSOS-Economics department.
An exploration of how people make decisions, questioning the concept of "perfect rationality" in the standard economic theory, providing improved models in line with the observed biases of decision makers. Focusing on decision making under risk and ambiguity, endowment effect, status quo bias, loss aversion, intertemporal choice, and selfish and pro-social preferences.
ECON637
(Perm Req)
Decision Theory
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON603 and ECON604.
Restriction: Must be in the Economics program; or must have completed ECON603 and ECON604 with a letter grade of B+ or better.
Credit only granted for: ECON698B or ECON637.
Formerly: ECON698B.
Decision making is a process in which we select a course of action among available options. This course will explore the various behavioral biases observed in decision making processes by adjusting our normative theories to capture these biases.
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.
Must be in Applied Economics-WDC Program; for permission to enroll, contact oes@umd.edu.
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.
Must be in Applied Economics-WDC Program; for permission to enroll, contact oes@umd.edu.
ECON644
Empirical Analysis II: Introduction to Economic Models
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON643.
An introduction to econometric methods with applications to public policy analysis. Primary focus on application and interpretation of multiple regression analysis.
Must be in Applied Economics-UMCP program; for permission to enroll, contact oes@umd.edu.
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.
Must be in Applied Economics-WDC Program; for permission to enroll, contact oes@umd.edu.
ECON664
Empirical Studies in Industrial Organization
Credits: 3
Grad Meth: Reg
Prerequisite: ECON603, ECON604, and ECON624.
Credit only granted for: ECON664 or ECON698J.
Formerly: ECON698J.
Review recent empirical literature in industrial organization. Covers price discrimination, cartel and collusion, entry and market structure, information and competition, technological change and adoption, auction, and firm organization.
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.
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.
Must be in Applied Economics-UMCP program; for permission to enroll, contact oes@umd.edu.
ECON674
Economic Analysis of Law
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON641; and must have completed or be concurrently enrolled in ECON644.
A study of the application of economics to law with a focus on game theory, strategic behavior and public policy.
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.
Must be in Applied Economics-WDC Program; for permission to enroll, contact oes@umd.edu.
ECON684
Applied Time Series Analysis and Forecasting
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON642; and ECON645.
Restriction: Must be in M.Prof.Studies: Applied Economics program.
This course builds on the brief introduction to time series econometrics offered in ECON 645. Students will learn the theory of stationary processes and how it applies to econometric techniques for estimation and forecasting based on time series data. The techniques will be applied in macroeconomic, financial and business applications.
Must be in Applied Economics-UMCP program; for permission to enroll, contact oes@umd.edu.
ECON698
(Perm Req)
Selected Topics in Economics
Credits: 3
Grad Meth: Reg, Aud
Contact department for information to register for this course.
ECON702
(Perm Req)
Advanced Macroeconomics II
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON602 and ECON601.
Selected issues in monetary economics with an equal emphasis of learning the models and understanding important issues: a survey of models (cash-in-advance, money-in-the-utility-function, transaction cost, search-based models), empirical issues in monetary economics, business cycles and money, monetary policy, welfare cost of inflation, alternative media of exchange.
ECON704
(Perm Req)
Advanced Microeconomics II
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON604 and ECON603.
This is the second half of a two-semester sequence in Advanced Microeconomics, intended for second-year Ph.D. students. The course material varies from year-to-year, but currently it focuses on auction theory, matching theory, and the relationship between matching and auction theory. Other topics that are treated in some years include: sequential bargaining under incomplete information; and equilibrium refinements.
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
ECON722
(Perm Req)
Econometrics IV
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON624; or permission of BSOS-Economics department.
Oriented towards micro-econometric methods. Topics covered will be selected from the following: Further discussion of topics covered in ECON624, binary and multinomial response models, censored and truncated regression models, sample selection models, count data models, duration models program evaluation and treatment effects methods, structural econometrics, the identification problem, stratified and clustered samples, spatial/cross sectional dependence models, dynamic panel data models, weak instruments, non-parametric estimation, boot strap and Jack Knife methods, pre-test estimators.
ECON743
Topics in International Finance
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON602; or permission of BSOS-Economics department.
Recommended: ECON741.
Puzzles in international finance; portfolio balance, current account dynamics, exchange rate behavior; capital market imperfections; balance of payments crises.
ECON744
Advanced Topics in International Economics
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON601 and ECON602.
Credit only granted for: ECON698M or ECON744.
Formerly: ECON698M.
This is an advanced course in the intersection of international finance, trade, and macroeconomics. The goal is to integrate topics from the three fields and to understand the links between individual/micro and aggregate/macro outcomes in real and financial markets. Topics include firm sale and pricing behavior, consumer choice and aggregate responses---trade elasticities, real exchange rate fluctuations, risk sharing, portfolio choice, asset pricing anomalies, and information frictions.
ECON745
Advanced Topics in International Trade
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON604 and ECON624.
Credit only granted for: ECON698L or ECON745.
Formerly: ECON698L.
Designed primarily for students planning to write dissertations on a topic related to international trade. Its focus is on recent research in this field including tests of trade theories; the effects of trade on growth and knowledge diffusion; the political economy of trade policy and the theory and practice of trade agreements.
ECON752
Public Economics II
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON751.
Theoretical and empirical issues in taxation, with particular emphasis on income taxation.
ECON756
Empirical Political Economics
Credits: 3
Grad Meth: Reg, Aud
An introduction to empirical political economy. Determinants of individual political behavior and the impact of political rules on economic outcomes will both be analyzed. Modern applied econometric techniques will also be covered.
ECON772
(Perm Req)
Population Economics
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON771; or permission of BSOS-Economics department.
Covers the central ideas in population economics. These include theory and test of theories of mortality, fertility and immigration.
ECON773
Topics in Applied Public and Labor Economics
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON603, ECON604, and ECON623; and (ECON624 or ECON626).
Explore topics in labor and public economics. Study the empirical evidence and the applied methodology used within labor and public economics. Discuss important topics in labor and public economics including immigration, education, discrimination, crime, and the role of family background. Provide instruction on how to perform empirical labor and public economic research by familiarizing students with available data sources, current research methodology, and practice with statistical packages such as Stata.
ECON781
Valuing Environmental Benefits
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON603; and ECON623. Or students who have taken courses with comparable content may contact the department.
The theory and practice of valuing environmental benefits, including the health, recreation and aesthetic benefits associated with controlling air and water pollution, and the damages associated with climate change. Estimation of the benefits of energy efficiency improvements-including the benefits of fuel economy standards.
ECON799
Master's Thesis Research
Credits: 1 - 6
Grad Meth: Reg
Contact department for information to register for this course.
ECON808
(Perm Req)
Workshop on Macroeconomics, International Macroeconomics and International Finance
Credits: 2
Grad Meth: S-F, Aud
ECON graduate students only.
ECON828
ECON848
(Perm Req)
Workshop in International Trade, Institutional Economics and Political Economy
Credits: 2
Grad Meth: S-F, Aud
ECON graduate students only.
ECON868
(Perm Req)
Workshop in Industrial Organization, Microeconomic Theory and Behavioral and Experimental Economics
Credits: 2
Grad Meth: S-F, Aud
ECON graduate students only.
ECON878
(Perm Req)
Workshop in Development, Labor and Public Economics
Credits: 2
Grad Meth: S-F, Aud
ECON graduate students only.
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.