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Courses - Fall 2019
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.
ECON175
Inequality: Determinants and Policy Remedies
Credits: 3
Grad Meth: Reg
GenEd: DSHS, SCIS
History shows that the gap between the rich and the poor has varied over time within and between countries, most recently seeming to increase within many countries while somewhat decreasing between countries. This course challenges students to investigate why people make different amounts of money, why income inequality has changed dramatically in recent years, what public policy tools exist to counter inequality increases, and what different institutional arrangements different countries use to lower inequality. This course will introduce students to theoretical tools used by economists to understand the sources of inequality and will also examine various empirical measures of inequality.
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
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.
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
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.
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).
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science) ; and must have earned a minimum of 60 credits.
Additional information: This course is intended for juniors or first semester seniors who are beginning their job search. Students who have already secured an employment opportunity for after graduation should not register.
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.
ECON396
(Perm Req)
Independent Honors Study
Credits: 3
Grad Meth: Reg
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.
ECON398D
Topics in Economics; Origins and Use of Economic Data
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200 and ECON201; and 1 course with minimum grade of C- from (STAT100, ECON230, BMGT230, ECON321, STAT400, or other equivalent course).

Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science).

Students will be exposed to the nature of data collection and data usage in the field of Economics. Students will learn the historical development of economics statistics, the limitations and advantages of both scope and survey methodology, and Excel/Stata/R skills which will empower students to produce research products with original data.
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
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.
ECON410
Comparative Economic Institutions
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON325 and ECON326; and 1 course with a minimum grade of C- from (ECON321, STAT400).
Restriction: Must be in Economics Bachelor of Science program.
Institutions are the sets of rules that constrain the decisions and interactions of economic agents. The course uses economic analysis to understand both formal institutions (e.g. laws) and informal institutions (e.g. cultural norms). Practical examples are drawn from economics, law, and politics, and reflect the experience of many different countries.
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, or AREC422.
Emphasizes the interaction between economic problems and the assumptions 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
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, ECON424 or AREC422.
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.
ECON434
The Economics of Information and Uncertainty
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: ECON498U or ECON434.
Formerly: ECON498U.
How do rational agents make decisions when faced with uncertainty? How do markets and other institutions deal with risks? How do markets behave when some actors are better informed than others? What incentives influence whether economic decision-makers hide or reveal information? Topics include the value of information, the purchase of warranties, agency problems in management, adverse selection and moral hazard in insurance, and signaling in education.
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.
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.
ECON453
Natural Resources and Public Policy
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: AREC326, ECON306, or ECON326; and (BMGT230 or ECON230).
Restriction: Must be in one of the following programs (Agricultural and Resource Economics; Agricultural and Resource Economics: Agribusiness; Agricultural and Resource Economics: Environmental and Resource Economics; Economics Bachelor of Arts; Environmental Science & Policy-Env Economics).
Cross-listed with AREC453. Credit only granted for: AREC453 or ECON453.
Rational use and reuse of natural resources. Theory, methodology, and policies concerned with the allocation of natural resources among alternative uses. Optimum state of conservation, market failure, safe minimum standard, and cost-benefit analysis.
ECON456
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 .
ECON488K
(Perm Req)
Applied Research Practicum; Kaulkin Ginsberg Research Fellow
Credits: 3
Grad Meth: S-F
ECON489L
(Perm Req)
Applied Economics Practicum; Financial Literacy Outreach and Training
Credits: 2
Grad Meth: Reg
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.
ECON498A
Special Topics in Economic Analysis; Economic and Social Policy Analysis
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.

Analysis of current economic and social policy issues, with an emphasis on evidence relevant to the evaluation of policy options. Topic areas may include poverty, education, immigration, environmental regulation, the tax code and others. Course will focus on the generation and assessment of evidence on the design and implementation of policies and programs in the selected topic areas.
ECON499
(Perm Req)
Independent Research in Economics
Credits: 1 - 3
Grad Meth: Reg, P-F
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 Industrial Organization, and in a range of other applied microeconomic contexts (marketing and public, environmental, education and urban economics). The focus will be on the connections between these models and relevant economic theories, and on the details of their implementation in practice.
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.
ECON635
(Perm Req)
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.
ECON637
(Perm Req)
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.
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.
ECON670
Financial Economics
Credits: 3
Grad Meth: Reg, 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.
ECON672
Program Analysis and Evaluation
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON641 and ECON645.
Students study the tools used to evaluate the effectiveness of public policies. All evaluations have weaknesses, and some have more weaknesses than others. You will learn how to distinguish high from low quality evaluations. We will discuss the basic economics and econometrics of program evaluation, focusing on the application of methods used for causal inference and cost-benefit analyses in public policy contexts. We will examine published evaluation research with the intent of showing how the research does or does not lead to clear conclusions regarding program performance.
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.
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.
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.
ECON683
International Macroeconomics and Finance
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.
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.
A formal treatment of game theory and its microeconomic applications is presented. Equilibrium concepts for static and dynamic games, and games with complete and incomplete information are studied. Topics also discussed: the relation between games in strategic form and games in extensive form, equilibrium refinement, Bayesian games, multi-dimensional mechanism design, dominant strategy and Bayesian implementation, Nash-in-Nash bargaining solutions.
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
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.
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.
ECON747
The Macreconomics of Imperfect Capital Markets
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON602 and ECON601; or (ECON604 and ECON603); or permission of BSOS-Economics department.
Restriction: Must be in one of the following programs (Economics (Master's); Economics (Doctoral)).
Credit only granted for: ECON698K or ECON747.
Formerly: ECON698K.
After a brief overview of the micro-foundations of capital market imperfections, topics include limited commitment, the financial accelerator, liquidity, bubbles, crises, the role of credit in monetary economics as well as international capital flows.
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
(Perm Req)
Advanced Labor Economics: Theory and Evidence
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON603 and ECON624; or permission of BSOS-Economics department.
Restriction: Must be in the Economics Doctoral program.
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.
ECON799
Master's Thesis Research
Credits: 1 - 6
Grad Meth: Reg
Contact department for information to register for this course.
ECON808
Workshop on Macroeconomics, International Macroeconomics and International Finance; Workshop in Applied Economics
Credits: 2
Grad Meth: S-F, Aud
ECON828
ECON848
Workshop in International Trade, Institutional Economics and Political Economy
Credits: 2
Grad Meth: S-F, Aud
ECON868
Workshop in Industrial Organization, Microeconomic Theory and Behavioral and Experimental Economics
Credits: 2
Grad Meth: S-F, Aud
ECON878
Workshop in Development, Labor and Public 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.