Courses - Spring 2025
The Department of Economics enforces course prerequisites. Students who do not meet the course prerequisites will be administratively dropped from the course.
ECON185
Will we face an energy crisis in the near future, or will technological breakthroughs solve problems? Will we destroy the environment by careless use of polluting energy, or we will find new and clean sources of energy that resolves the environmental issue once and for all? Will politicians and governments succeed in agreeing on a coherent strategy to deal with global issues related to energy, or do we expect individual countries to move in different directions and exacerbate the problems? Students will explore the demand and supply sides of the energy market and their relationships with government policies and environmental concerns. Students will also analyze empirical evidence to better understand the factors affecting energy production and consumption in the past and possible directions in the future. By examining past situations when technological change mitigated problems in energy markets, we can make informed predictions about what could happen next.
ECON200
Principles of Microeconomics
Prerequisite: MATH107 or MATH110; or must have math eligibility of MATH113 or higher.
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
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.
ECON298B
Special Topics in Economics; Rational Irrationality: What Behavioral Economics can teach us about Behavior and Beliefs
Credits:
3
Grad Meth:
Reg, P-F, Aud
Cross-listed with ISRL249O and PHPE308U. Credit only granted for ISRL249O, ECON298B, or PHPE308U.
Between geopolitical strife and growing social divides, understanding what drives people's beliefs and behavior is more imperative than ever. In this interdisciplinary course, we will discuss and explore what Behavioral Economics can teach us about the psychological forces that shape and distort our thoughts, feelings, and behavior. We will learn about the psychological biases and illusions behind stories people tell about the world we live in, as well as how our environment unconsciously influences and guides our behavior. The course will also address the cultural and intellectual roots of Behavioral Economics. We will explore how cultural differences affect society, policy, and business. We will see how the ideas apply to narratives of modern Israel as well as the means of influencing behavior and thinking.
Between geopolitical strife and growing social divides, understanding what drives people's beliefs and behavior is more imperative than ever. In this interdisciplinary course, we will discuss and explore what Behavioral Economics can teach us about the psychological forces that shape and distort our thoughts, feelings, and behavior. We will learn about the psychological biases and illusions behind stories people tell about the world we live in, as well as how our environment unconsciously influences and guides our behavior. The course will also address the cultural and intellectual roots of Behavioral Economics. We will explore how cultural differences affect society, policy, and business. We will see how the ideas apply to narratives of modern Israel as well as the means of influencing behavior and thinking.
ECON300
Methods and Tools for Economic Analysis
Credits:
3
Grad Meth:
Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (ECON200, ECON201); and minimum grade of C- in MATH140.
Restriction: Must be in Economics Bachelor of Science program; and must not have completed MATH241.
Economic application of mathematical tools and concepts necessary for intermediate and advanced coursework in economics. Topics include: multivariable calculus, constrained optimization, foundational coverage of probability theory, and exponential/logarithmic functions.
ECON305
Intermediate Macroeconomic Theory and Policy
Credits:
4
Grad Meth:
Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200 and ECON201; and 1 course with a minimum grade of C- from (MATH120, MATH130, MATH136, MATH140).
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:
4
Grad Meth:
Reg, P-F, Aud
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).
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 one of the following programs (Economics Bachelor of Arts; Economics minor; Social Data Science-Economics).
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 Economic History 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 one of the following programs (Economics Bachelor of Arts; Economics minor; Social Data Science-Economics).
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. Utilizes basic economic theories to understand these episodes as well as the progress of the U.S. economy over this period.
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 one of the following programs (Economics Bachelor of Arts; Economics minor; Social Data Science-Economics).
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 ECON200 and ECON201; and minimum grade of C- in ECON300 or (MATH241 and any statistics course).
Restriction: Must be in Economics Bachelor of Science program.
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:
4
Grad Meth:
Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200 and ECON201; and minimum grade of C- in ECON300 or (MATH241 and any statistics course).
Restriction: Must be in one of the following programs (Economics Bachelor of Science; Economics minor).
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:
4
Grad Meth:
Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON200 and ECON201; and minimum grade of C- in ECON300 or (MATH241 and any statistics course).
Restriction: Must be in one of the following programs (Economics Bachelor of Science; Economics minor).
Credit only granted for: ECON306, ECON326, or AREC326.
Analysis of economic decision-making by individuals and firms, the resulting market outcomes, and applications to real-world problems. Emphasis on analytical logic and theoretical rigor. Topics covered include consumer preferences and utility maximization, perfect competition and market power, uncertainty and risk, 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.
ECON354
Using Big Data to Solve Economic and Social Problems
Prerequisite: Minimum grade of C- in ECON200 and ECON201; and 1 course with a minimum grade of C- from (ECON230, BMGT230, ECON321, STAT401).
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science; Economics minor; Social Data Science-Economics).
Shows how "big data" can be used to understand and address some of the most important social and economic problems of our time. The course will give students an introduction to frontier research and policy applications in economics and social science in a less-technical manner. Topics include equality of opportunity, education, racial disparities, innovation and entrepreneurship, health care, climate change, criminal justice, and tax policy. In the context of these topics, the course will also provide an introduction to basic methods in data science, including regression, causal inference, and machine learning.
Students will need a laptop during discussion sections. If needed, students can borrow laptops through the university libraries.
ECON386
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.
Student and internship eligibility requirements, along with the ECON386 application, can be found at: http://ter.ps/ECON386.
ECON387
Career Preparation for Economics Majors
Credits:
2
Grad Meth:
Reg, P-F
Prerequisite: Minimum grade of C- in ECON200 and ECON201.
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science) ; and must have earned a minimum of 30 credits.
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
Honors Thesis
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
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.
ECON414
Game Theory
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, STAT401).
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science; Economics minor).
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 one of the following programs (Economics Bachelor of Science; Economics minor).
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; Economic Development of Selected Areas: Latin America
Credits:
3
Grad Meth:
Reg, P-F, Aud
Prerequisites: 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, STAT401).
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics minor; Social Data Science-Economics). Students may repeat "ECON418 Economics Development of Selected Areas" for a maximum of 6 credits.
Analyzes problems of political economy and economic integration in Latin America. Students will examine economic history, long term development theories and issues such as trade, debt, structural adjustment, poverty, rural development, and regional trade agreements, including NAFTA, the USMCA, and Mercosur. Students will use economic theory as well as applications with an emphasis on the role of institutions and path dependence.
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics minor; Social Data Science-Economics). Students may repeat "ECON418 Economics Development of Selected Areas" for a maximum of 6 credits.
Analyzes problems of political economy and economic integration in Latin America. Students will examine economic history, long term development theories and issues such as trade, debt, structural adjustment, poverty, rural development, and regional trade agreements, including NAFTA, the USMCA, and Mercosur. Students will use economic theory as well as applications with an emphasis on the role of institutions and path dependence.
ECON422
Econometrics
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 (ECON321, STAT401).
Restriction: Must be in one of the following programs (Economics Bachelor of Science; Economics minor).
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
Advanced Topics in Econometrics
Credits:
3
Grad Meth:
Reg, P-F, Aud
Prerequisite: Minimum grade of C- in ECON422.
Restriction: Must be in one of the following programs (Economics Bachelor of Science; Economics minor).
Interaction between economic problems and specification and estimation of econometric models. Topics may include: autocorrelation, heteroscedasticity, functional form, simultaneous equation models, logit and probit models, instrumental variables, 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 one of the following programs (Economics Bachelor of Arts; Economics minor; Social Data Science-Economics).
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.
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, STAT401).
Restriction: Must be in one of the following programs (Economics Bachelor of Science; Economics minor).
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.
ECON433
Economics of Big Data
Credits:
4
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, STAT401).
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science; Economics minor; Social Data Science-Economics).
The importance of big data in the global economy is rising. Students will explore the definition and characteristics of big data, the impact of big data on individuals, use of big data by firms, entrepreneurs and non-profits, as well as how big data reshapes various public policies.
ECON454
Public Finance and Public Policy
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 or STAT401).
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science; Economics minor; Social Data Science-Economics).
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 one of the following programs (Economics Bachelor of Arts; Economics minor; Social Data Science-Economics).
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 .
ECON465
Health 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, STAT401).
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science; Economics minor; Social Data Science-Economics).
Jointly offered with: ECON671.
Credit only granted for: ECON465 or ECON671.
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. Students will analyze markets for health care and related products by examining the incentives and constraints for various participants, including individuals, family units, doctors, pharmaceutical companies, hospitals, and insurance providers. Analysis will combine both theoretical models and empirical tools.
ECON470
Labor Economics: Theory and Evidence
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, STAT401).
Restriction: Must be in one of the following programs (Economics Bachelor of Arts; Economics Bachelor of Science; Economics minor; Social Data Science-Economics).
Credit only granted for: ECON470 or ECON471.
Analysis of labor markets in theory and the real world. Topics include labor supply, labor demand, human capital, performance incentives, unemployment, discrimination, and immigration. Students will develop an understanding of how formal economic research is used to analyze U.S. labor markets and how research influences policy debates.
ECON481
Environmental Economics
Credits:
3
Grad Meth:
Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (AREC326, ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, ECON321, BMGT230).
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; Social Data Science-Economics; Economics minor).
Cross-listed with: AREC481.
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.
ECON484
The Economics of Climate Change
Credits:
3
Grad Meth:
Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (AREC326, ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, ECON321, BMGT230).
Cross-listed with: AREC454.
Credit only granted for: AREC454 or ECON484.
The role of economics in the formation of climate policy; basic concepts of environmental economics including efficiency, externalities, and policy instruments; economic models of intertemporal decisions and decision making in the face of uncertainty. Applied economic analysis of specific issues and current policy initiatives.
ECON486
Energy and Environmental Economics
Credits:
3
Grad Meth:
Reg, P-F
Prerequisite: 1 course with a minimum grade of C- from (AREC326, ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, ECON321, BMGT230).
Cross-listed with: AREC456.
Credit only granted for: AREC456 or ECON486.
Economic theory and empirical methods are used to study problems of energy, the environment, and the economy. It examines the extraction, production, and use of energy and market institutions and regulatory approaches used to correct market failures. Topics covered include: oil and natural gas markets, management and design of electricity markets, renewable energy, non-market valuation , climate change, and transportation policies.
To review the ECON course list to determine how this course will count towards your major, click here.
ECON499
Independent Research in Economics
Credits:
1 - 3
Grad Meth:
Reg, P-F
ECON602
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
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
Seminar in American Economic Development
Credits:
3
Grad Meth:
Reg, Aud, S-F
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.
ECON617
Topics in Development Economics
Credits:
3
Grad Meth:
Reg, Aud
Prerequisite: ECON615 or ECON616; or by permission of BSOS-Economics Department.
Restriction: Permission of BSOS-Economics Department.
Introduces students to the factors underlying contemporary trends in the economic development of low-income countries. Combining economic theory and empirical studies, students will learn about the unique challenges currently faced by policy makers in low-income settings, their economic determinants, and the evaluation of policy solutions. The course will center around a replication and extension exercise of a recent study in the development literature. A primary aim of the course is to prepare students to conduct independent research in development economics, with a particular focus on modern research methodology and applied econometrics.
ECON624
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.
ECON636
Behavioral Economics
Credits:
3
Grad Meth:
Reg, Aud, S-F
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.
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.
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.
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.
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 foundations of public economics, taxation, inequality, and behavioral public economics are reviewed. Major topics include welfare economics, tax incidence, behavioral responses to tax incentives and the efficiency cost of taxation, optimal taxation, income and wealth inequality, optimal tax systems and tax evasion, capital taxation and business income taxes, and taxation and behavioral economics. The course material is aimed to give students an understanding of both the foundations and methods of modern public economics, and important recent advances in our understanding of public economics. This is the first course in the two-part Ph.D. sequence in public economics.
ECON662
Theories of Industrial Organization
Credits:
3
Grad Meth:
Reg, Aud, S-F
Prerequisite: ECON604 and ECON603.
Dynamic models are important tools to understand intertemporal individual choices and industry evolution. The course discusses a number of issues estimating and solving dynamic models, complimenting and building on the methods and topics introduced in 625. The course also covers models of endogenous product choice, matching and market design. There will be two main sets of assignments, where students simulate data by solving models, estimate models based on simulated or real data and perform counterfactual analyses. The students will also be expected to submit a research proposal.
ECON670
Financial Economics
Credits:
3
Grad Meth:
Reg, Aud, S-F
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, Aud
Prerequisite: ECON641; and must have completed or be concurrently enrolled in ECON644.
Restriction: Must be in MS Applied Economics program; or with permission from the program director.
Jointly offered with: ECON465.
Credit only granted for: ECON671 or ECON465.
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. Students will analyze markets for health care and related products by examining the incentives and constraints for various participants, including individuals, family units, doctors, pharmaceutical companies, hospitals, and insurance providers. Extensive use of quantitative and analytic economic tools with special emphasis on regulatory responses to market imperfections.
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.
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, Aud, S-F
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.
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.
ECON687
Economics Applications of R Programming
Credits:
3
Grad Meth:
Reg, Aud
Prerequisite: Must have completed or be concurrently enrolled in ECON645.
Restriction: Must be in Applied Economics Master of Science program; or permission of the program director.
Builds on the data analysis and econometric skills learned in the Empirical analysis sequence of ECON 643, 644, and 645. The STATA skills acquired in that sequence, such as basic data manipulation and econometric estimation, will be extended to the R programming language. The fundamentals of more advanced scientific programming--objects, data structures, loops, functions, simulation, parallel computing--will be introduced with applications to economics and the social sciences. Additional emphasis is placed on good coding practices and tools for version control and collaboration such as Git and R Markdown.
ECON702
Advanced Macroeconomics II
Credits:
3
Grad Meth:
Reg, Aud, S-F
Prerequisite: ECON602 and ECON601.
Recent advances in the fast-growing subfield of behavioral macroeconomics, with applications to business cycles and monetary economics. We will discuss surveys and controlled laboratory experiments that test the full information rational expectations (FIRE) hypothesis, and characterize deviations from FIRE in individual beliefs and actions, and we will study models that relax both the FI and the RE assumptions in general equilibrium settings, to bridge the gap between individual biases and constraints on the one hand and aggregate consequences and policy implications on the other.
ECON704
Advanced Microeconomics II
Credits:
3
Grad Meth:
Reg, Aud, S-F
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
Advanced Topics in Applied and Theoretical Microeconomics
Credits:
2
Grad Meth:
S-F, Aud
ECON709
Advanced Topics in Applied and Theoretical Macroeconomics
Credits:
2
Grad Meth:
S-F, Aud
ECON722
Econometrics IV
Credits:
3
Grad Meth:
Reg, Aud
Prerequisite: ECON624; or permission of BSOS-Economics department.
Orientated towards micro-econometric methods. Topics covered will be selected from the following: Further discussion of topics covered in ECON624, binary and multinomial response models, semiparametric and non-parametric estimation, machine learning algorithms, neural nets, and applications of ML to program evaluation and treatment effects methods. Introduces students to Python programming and Python ML toolkits Scikit and PyTorch. Structural econometrics, the identification problem, stratified and clustered samples, spatial and social network models, dynamic panel data models, weak instruments, non-parametric and semi-parametric estimation methods, 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.
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.
A field course designed for students who have completed introductory graduate course work in macroeconomics. The course is built around three main ideas. First, its objective is to understand the role of financial markets for fluctuations in the macroeconomy. More specifically, starting from a complete markets benchmark, we study canonical types of credit market frictions that give rise to macroeconomic effects. Second, the course aims to enhance the students' toolkit to carry out state-of-the-art research in macroeconomics in general. It provides plenty of practical exercise to take models (usually DSGE models with financial frictions) to the computer. Third, alongside the methodological content, we revisit empirical facts on the regularities of financial variables, the 2008-09 global financial crisis and the Covid-19 recession.
ECON752
Public Economics II
Credits:
3
Grad Meth:
Reg, Aud
Prerequisite: ECON751.
Students will study a set of issues related to the government's role in the economy, focusing on government redistribution and social insurance. Major topics covered include the optimal design of government redistribution programs; theoretical and empirical analyses of major U.S. government transfer programs; the optimal design of social insurance programs; and theoretical and empirical analyses of major U.S. social insurance programs.
ECON772
Population Economics
Credits:
3
Grad Meth:
Reg, Aud
Prerequisite: ECON603 and ECON604; and (ECON623 and ECON624) or ECON626; or permission of BSOS-Economics Department.
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:
S-F
ECON808
Workshop on Macroeconomics, International Macroeconomics and International Finance
Credits:
2
Grad Meth:
S-F, Aud
ECON graduate students only.
ECON828
Workshop in Econometrics
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
ECON graduate students only.
ECON878
Workshop in Development, Labor and Public Economics
Credits:
2
Grad Meth:
S-F, Aud
ECON graduate students only.
ECON898
Pre-Candidacy Research
Credits:
1 - 8
Grad Meth:
S-F
ECON899
Doctoral Dissertation Research
Credits:
6
Grad Meth:
S-F
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