Catalog

ECON 1000-4. Introduction to Economics. Introduces an economic way of thinking, emphasizing its critical importance in cases where people want to make themselves as well off as possible, but can’t have everything they want. Focuses on how economic thought affects all choices. Topics include scarcity, decision making, and markets. Students may not receive credit for ECON 1000 or 1001 if they have received credit for ECON 2010 or 2020. Similar to ECON 1001, 2010, and 2020. Meets MAPS requirement for social science: general. Approved for arts and sciences core curriculum: contemporary societies.

ECON 2010-4. Principles of Microeconomics. Examines basic concepts of microeconomics, or the behavior and the interactions of individuals, firms, and government. Topics include determining economic problems, how consumers and businesses make decisions, how markets work and how they fail, and how government actions affect markets. Credit not granted for this course and ECON 1000 and 1001. Meets MAPS requirements for social sciences: general. Approved for arts and sciences core curriculum: contemporary societies.

ECON 2020-4. Principles of Macroeconomics. Provides an overview of the economy, examining the flows of resources and outputs and the factors determining the levels of income and prices. Explores policy problems of inflation, unemployment, and economic growth. Prereq., ECON 2010. Credit not granted for this course and ECON 1000 and 1001. Meets MAPS requirement for social sciences: general.1000, Approved for arts and sciences core curriculum: contemporary societies.

ECON 3070-3. Intermediate Microeconomic Theory. Explores theory and application of models of consumer choice, firm and market organization, and general equilibrium. Extensions include intertemporal decisions, decisions under uncertainty, externalities, and strategic interaction. Prereqs., ECON 1000 or 2010; and either ECON 1078 and 1088, or MATH 1300, or MATH 1310, or MATH 1081, or MATH 1080, 1090, and 1100, or APPM 1350, or equivalent.

ECON 3080-3. Intermediate Macroeconomic Theory. Introduces theories of aggregate economic activity including the determination of income, employment, and prices; economic growth; and fluctuations. Macroeconomic policies are explored in both closed and open economy models. ECON 3070 and 3080 may be taken in any order; there is no recommended sequence. Prereqs., ECON 1000 or 2020; and either ECON 1078 and 1088, or MATH 1300, or MATH 1310, or MATH 1081, or MATH 1080, 1090, and 1100, or APPM 1350, or equivalent.

ECON 4070-3. Topics in Microeconomics. Studies utility maximization under uncertainty, risk, game theory, moral hazard, and adverse selection. Applications include insurance markets and the theory of contracts. Prereqs., ECON 3070 and 4808 or equivalent, or instructor consent.

ECON 7010-3. Microeconomic Theory 1. Analyzes recent and contemporary literature on fundamentals of economic theory. Considers value theory with particular emphasis on methodology, theory of demand, theory of the firm, game theory, theory of distribution, general equilibrium theory, and welfare economics. Prereqs., ECON 3070, 3080, 6808 or MATH 1300.

ECON 7020-3. Macroeconomic Theory 1. Discusses behavior of consumption, investment, employment, production, and interest rates in the context of dynamic optimization models. Also considers government, economic growth, and business cycles. Prereqs., ECON 3070 and 3080.

ECON 7030-3. Microeconomic Theory 2. Continuation of ECON 7010. Prereq., ECON 7010.

ECON 7040-3. Macroeconomic Theory 2. Presents the theoretical and empirical application of dynamic macro programming models. Topics include consumption, investment, labor, money, and credit theories. Covers the theory of economic fluctuations and business cycles employing dynamic general equilibrium models. Prereq., ECON 7020.

ECON 7050-3. Advanced Economic Theory. Discusses advanced topics in game theory and general equilibrium. Prereqs., ECON 7010, 7030, 7818, 7828.

ECON 4111-3. Money and Banking Systems. Discusses money, financial institutions and the monetary-financial system in a modern economy. Prereq., ECON 3080.

ECON 4211-3. Economics of the Public Sector. Focuses on taxation and public expenditures. Topics include economic rationale for government action, economic theory of government behavior, and effects of government policies on allocation of resources and distribution of income. Prereqs., ECON 3070 and 3818.

ECON 8211-3. Public Economics: Fundamental Principles. Presents the fundamental principles of public goods, externalities, public choice, excess burden, optimal taxation, and tax incidence. Prereq., ECON 6211 or 7010.

ECON 8221-3. Public Economics: Topics in Public Expenditures and Taxation. Explores advanced topics in public economics such as decentralization, state and local government, program analysis, taxation, international tax issues, political economy issues, and market failure. Prereqs., ECON 6211 or 7010, and 8211.

ECON 8231-3. Local Public Economics. Examines subnational governments and systems of governments, the effects of inter-governmental competition, appropriate tax and expenditure responsibilities, and variations in governing institutions. Covers congestible public goods, Tieabout mechanisms, and tax capitalization. Prereq., ECON 6211 or 7010.

ECON 4292-3. Migration, Immigrant Adaptation, and Development. Examines historical and current patterns of migration with an emphasis in international movement. Looks at leading migration theories related to both origin- and destination-based explanations while critically looking at the role of development as a potential cause and consequence of population movement. Finally, covers some aspects of immigrants’ social and economic adaptation to their host society. Recommended prereqs., GEOG 1982, 1992, 2002, or 2412. Same as GEOG 4292.

ECON 8252-3. Seminar: Urban and Regional Economics 1. Covers basic theories in spatial location of economic activity and land use and the survey techniques developed to analyze, measure, and predict regional and urban structure and growth, such as economic base studies, regional social accounts, and input-output analysis. Prereq., ECON 6070 or 7010.

ECON 8262-3. Topics in Urban and Regional Economics. Investigates various theoretical topics in urban and regional economics, focusing on policy issues. Involves student research and presentations. Prereq., ECON 6070 or 7010.

ECON 3403-3. International Economics and Policy. Examines national and supranational policies that affect the international economy, with attention to trade barriers, economic nationalism and regionalism, international political economy, exchange market intervention, and international transmission of economic perturbations. Prereqs., ECON 1000, or ECON 2010 and 2020. Restricted to nonmajors. Approved for arts and sciences core curriculum: contemporary societies.

ECON 4413-3. International Trade. Focuses on theories of international trade and its impacts on economic welfare. Analyzes commercial policy, including tariffs, non-tariff barriers, retaliation, regional integration, and factor migration. Prereq., ECON 3070.

ECON 4423-3. International Finance. Covers balance of payments; foreign exchange market, income, trade, and capital flows; asset markets adjustment mechanisms; stabilization policies in an open economy; and problems of international monetary systems. Prereq., ECON 3080.

ECON 8333-3. Globalization and Democratization: An Introduction. Introduces research on globalization and democratization from an interdisciplinary perspective. Examines ongoing interdisciplinary research on the global political economy. Students learn about ongoing research, critique current efforts, and design their own research project. Prereq., graduate standing in PSCI, ECON, GEOG, or SOCY. Same as PSCI 7333, SOCY 6031, and GEOG 5332.

ECON 8413-3. Seminar: International Trade Theory. Covers theories of comparative advantage, including the classical, factor-proportions, fixed-factor, and noncompetitive markets models. Examines trade policy including trade barriers, market distortions, strategic policy, regional integration, political economy, and factor migration. Prereq., ECON 6413 or 7010.

ECON 8423-3. Seminar: International Finance. Highlights foreign exchange markets, past and current international monetary mechanisms, and processes of adjustment. Examines the role of international financial markets for the behavior of consumption, investment, saving, and production. Also considers international transmission of business cycles. Prereq., ECON 6423 or 7020.

ECON 8433-3. Seminar: Topics in Money and International Economics. Explores advanced work in various aspects of international economics, such as empirical trade analysis, public choice, and interactions between real and monetary phenomena in the world economy. Prereq., ECON 6413, 6423, 8413, or 8423.

ECON 4504-3. The New Institutional Economics: Institutions, Contracts, and Economic Outcomes. Understand the conceptual toolkit of the New Institutional Economics. The concepts include transaction costs, property rights, credible commitment, and most importantly the roles of formal and informal institutions. We will examine the impact of institutions on contracting and organizations. The goal is to understand how the underlying institutions determine the degree to which societies improve their economic performance. Prereqs., ECON 3070, 3080 and 3818.

ECON 4514-3. Economic History of Europe. Covers evolution of modern economic growth and development in Europe, emphasizing institutional change. Prereqs., ECON 3070 or 3080. Approved for arts and sciences core curriculum: historical context.

ECON 4524-3. Economic History of the United States. Evolution of modern economic growth and development in the U.S. from colonial times to the present emphasizing institutional change. Prereq., ECON 3070. Approved for arts and sciences core curriculum: United States context.

ECON 8534-3. Economic History of North America. Examines North America’s past from the perspective of economics. Topics include growth and welfare in the colonial period; staple products, agricultural development, and the emerging industrialism in the antebellum period; transformation of the North American economy to 1914; the interwar years and the Great Depression; and economic integration since 1945. Prereqs., ECON 6070 and 6080, or ECON 7010.

ECON 8764-3. History of Economic Development. Covers in historical perspective the causes of economic development including why some areas develop faster than others and why development occurs more rapidly in some eras than others. Prereqs., ECON 6070 and 6080, or ECON 7010. Same as HIST 7214.

ECON 3784-3. Economic Development and Policy. Introductory course in Economic Development, designed for non-majors. Students are introduced to the major issues in development economics. Students will explore empirical, theoretical, and policy issues in economic development. Emphasis is placed on the controversial issues in this literature, requiring students to explore competing, and often conflicting, perspectives of these issues. Prereqs., ECON 1000 or ECON 2010 and 2020. Restricted to non-majors.

ECON 4774-3. Economic Reform in Developing Countries. Explores competing paradigms of economic development, emphasizing the confrontation between the structuralist/dirigiste paradigm and the neoclassical public choice paradigm. Analyzes economic reforms under way in developing countries, including stabilization policy and structural adjustment. Also explores political reforms, including the pluralist revolution and the design of a constitutional framework in developing societies. Prereqs., ECON 3070 or 3080.

ECON 4784-3. Economic Development. Explores empirical, theoretical, and policy issues in economic development. Examines topics with reference to the developing countries: income distribution and poverty, demographic change, labor force employment and migration, human capital, physical capital, natural resources and the environment, industrial structure, international trade, and finance. Prereqs., ECON 3070 or 3080.

ECON 4794-3. Economic Growth. Introduces theories explaining why differences in standards of living among countries are so large. Examines a variety of data on historical experiences of economic growth. Surveys recent research on why some countries are so rich and some are so poor, and why some countries grow so quickly and others grow so slowly. Prereqs., ECON 1088 or equivalent, and ECON 3070 or 3080.

ECON 6774-3. Economic Reform in Developing Countries. Covers stabilization policy and structural adjustment. Specific topics include orthodox stabilization policies (fiscal, monetary, and exchange rate policies); heterodox stabilization policies (price, wage, and interest controls); trade liberalization; financial liberalization; privatization and deregulation. Prereqs., ECON 6070 and 6080. Will not be offered academic year 2008-09.

ECON 8774-3. Seminar in Transition Economies. Focuses on the problems encountered in countries evolving from planned to market economies. Emphasizes applications of new and traditional models of economic growth and analysis of problems unique to formerly planned economies. Prereq., ECON 6774 or 7010.

ECON 8784-3. Economic Development. Explores empirical, theoretical, and policy issues in economic development. Examines political economy, income distribution and poverty, demographic change, labor force employment and migration, human capital, physical capital, natural resources and the environment, industrial structure, international trade and finance, stabilization policy, and structural adjustment. Prereqs., ECON 6774 or 7010.

ECON 3535-3. Natural Resource Economics. Integrates economic analysis with life science aspects of natural resource systems to develop social policies for use of natural resources. Studies economists’ approaches to resources policy analysis and applies them to energy, forestry, fisheries, mineral, and water systems. Prereq., ECON 1000 or 2010. Restricted to nonmajors. Credit not granted for this course and ECON 4535. Approved for arts and sciences core curriculum: contemporary societies.

ECON 3545-3. Environmental Economics. Highlights causes of excessive environmental pollution and tools for controlling it through economic analysis, values of preservation, and distribution of costs and benefits from environmental protection programs. Prereq., ECON 1000 or 2010. Restricted to nonmajors. Credit not granted for this course and ECON 4545. Approved for arts and sciences core curriculum: contemporary societies.

ECON 4535-3. Natural Resource Economics. Analysis of problems associated with socially optimal use of renewable and nonrenewable natural resources over time. Problems of common property resources, irreversible forms of development, and preservation of natural areas. Prereq., ECON 3070. Credit not granted for this course and ECON 3535.

ECON 4545-3. Environmental Economics. Examines the effects of economic growth on the environment; application of economic theory of external diseconomies, cost-benefit analysis, program budgeting, and welfare economics to problems of the physical environment. Prereq., ECON 3070. Credit not granted for this course and ECON 3545.

ECON 4555-3. Transportation Economics. Provides an overview of the characteristics and structure of transportation markets including aggregate demand, vehicle and mode choice, surface freight and air travel. Explores market failures in the transportation sector including market power and externalities such as pollution, congestion and accidents as well as policies aimed at addressing these issues. Prereqs., ECON 3070 and 3818.

ECON 6555-3. Water Resources Development and Management: Technology, Economics, Institutions. Offers a multidisciplinary exploration of the engineering, economic, and institutional principles involved in water system development and management. Provides a background in basic hydrology, economics, water law, and institutions. Prereq., ECON 3070 or equivalent. Same as CVEN 5393.

ECON 8535-3. Environmental Economics I. Considers the allocation of society’s scarce environmental resources and government attempts to achieve more efficient and equitable allocations. It is a course in applied welfare economics with an emphasis on market failure and valuation. Prereq., ECON 6535 and 6808; or ECON 7010.

ECON 8545-3. Environmental Economics II. Provides advanced study of recent advances in environmental economics and explores opportunities for new research. Topics vary with interests of instructor and students. Prereqs., ECON 6535 and 6808, or ECON 7010 and ECON 8535.

ECON 8555-3. Water Resources Development and Management. Offers a research seminar in joint hydrologic-economic modeling and systems analysis. Addresses problems of joint water quantity-water quality management and joint surface-ground water management. Prereq., ECON 6555.

ECON 4616-3. Labor Economics. Examines the influence of markets, unions, and government on labor allocation and remuneration. Analyzes human capital, discrimination, mobility and migration, productivity, unemployment, and inflation. Compares outcomes under competition with those in a world marked by shared market power and bargaining. Prereq., ECON 3070.

ECON 4626-3. The Economics of Inequality and Discrimination. Examines the unique insights available through economic analysis regarding the causes, mechanisms, and consequences of inequality and discrimination. Examines the extent of inequality, the varieties and extents of discrimination, and explores the economic models that suggest explanations. Prereq., ECON 3070. Approved for arts and sciences core curriculum: human diversity.

ECON 4646-3. Topics in Health Economics. Encourages students to read, think, and do research on issues in health economics. Covers issues that are pertinent to the U.S. and other developed and developing countries. Covers the basics of health economics such as health production functions and the role for government and touches on topical issues such as health care reform. Prereq., ECON 3070. Recommended prereq., ECON 3818.

ECON 8666 (1-3). Economic Demography. Investigates economic determinants and consequences of demographic behavior in developing and developed countries. Issues include fertility and female labor supply interactions, the demographic transition, the effect of population growth on income distribution, family investments in children, and intergenerational mobility. Prereqs., ECON 3070 and 3080.

ECON 8676-3. Seminar: Labor Economics 1. Focuses on the demand side of labor markets. Topics include standard static and dynamic models of labor demand, labor market discrimination, composition of compensation, labor hierarchies within enterprises, unionization, efficient contracts, and macroeconomics of labor markets. Prereq., ECON 6070 or 7010.

ECON 8686-3. Seminar: Labor Economics 2. Focuses on special topics in labor economics: dynamic theories of labor supply, employment, and unemployment; labor supply in a household framework; and labor market activity and income distribution. Explores both theoretical models and empirical tests in each area. Prereq., ECON 6070 or 7010.

ECON 4697-3. Industrial Organization and Regulation. Explores neoclassical theory of the firm, the determinants of industrial structure, and the purposes and institutions of public policy to control or maintain a competitive environment. Prereq., ECON 3070. Approved for arts and sciences core curriculum: United States context.

ECON 8747-3. Industrial Organization Theory. Highlights economics of regulation of industry and markets, industry studies, and the application of lab methods to industrial organization. Prereq., ECON 7010.

ECON 8757-3. Industrial Organization and Public Policy. Addresses the theory of interaction of firms within markets and industries, emphasizing importance of the number, relative size of firms, market institution, firm strategies, and nature of consumer demand. Examines neoclassical and game theoretic models, empirical industry studies, and laboratory tests of theoretical models and policies. Prereq., ECON 7010.

ECON 1078-3. Mathematical Tools for Economists 1. Teaches mathematical skills and logical thinking for use in economics. Topics include algebra, graphs, functions, and probability. The class includes many “real world” examples and some illustrative computer assignments. Approved for arts and sciences core curriculum: quantitative reasoning and mathematical skills.

ECON 1088-3. Mathematical Tools for Economists 2. Continuation of ECON 1078. Teaches mathematical skills for use in economics. Topics include derivatives, optimization, and integration. These skills are used on “real world” problems, and illustrated with computer assignments. Prereq., ECON 1078 or instructor consent. Similar to MATH 1080, 1081, 1090, 1100, 1300, 1310, and APPM 1350.

ECON 3818-4. Introduction to Statistics with Computer Applications. Introduces statistical methods and their applications in quantitative economic analysis. Prereqs., ECON 1000, or 2010 and 2020; and either ECON 1078 and 1088, or MATH 1300, or MATH 1310, or MATH 1081, or MATH 1080, 1090, and 1100, or APPM 1350, or equivalent.

ECON 4808-3. Introduction to Mathematical Economics. Introduces the use of mathematics in economics. Topics include vectors and matrices, differential calculus, and optimization theory, with economic applications. Prereqs., ECON 3070 and ECON 3818.

ECON 4818-3. Introduction to Econometrics. Provides undergraduate economics majors with an introduction to econometric theory and practice. Develops the multiple regression model and problems encountered in its application in lecture and individual applied projects. Prereqs., ECON 3070 and 3818.

ECON 4838-3. Microcomputer Applications in Economics. Addresses innovative uses of personal computers in economic analysis and model building techniques. Acquaints students with economic models through individualized, computer-generated exercises. Topics include input-output analysis, linear programming, nonlinear approximation, and simulation. Prereqs., ECON 1088 or MATH 1300, ECON 3070 and ECON 3818.

ECON 4848-3. Applied Econometrics. Introduces students to the practice of applied regression analysis. Summarizes and reviews the regression technique, explores U.S. census data sources, introduces an advanced statistical software package and provides structured exercises in regression analysis of census data. Concludes with independent research projects analyzing social and economic issues using regression analysis and census data. Prereq., ECON 3818. Recommended prereq., ECON 3070.

ECON 6828-3. Applied Time Series Analysis (Box-Jenkins) and Forecasting. Introduces first-year graduate students to time series approach of model building and forecasting. Basic topics are autoregressive integrated moving average models, nonstationarity and co-integration, vector autoregressions, and the evaluation of forecasts from such models. Emphasizes applied computer assignments. Prereqs., ECON 3818 and 4808, or equivalent. Will not be offered academic year 2008–09.

ECON 7818-3. Mathematical Statistics for Economists. Provides the mathematical foundation for Ph.D. level statistical inference in economic research. The primary topics of the course are probability theory and mathematical statistics including hypothesis testing and classical estimation with an emphasis on the method of maximum likelihood.

ECON 7828-3. Econometrics. Continuation of ECON 7818. Topics include regression analysis and extensions of the linear regression model to generalized least squares, time series data, and systems of equations. Prereq., ECON 7818.

ECON 8828-3. Seminar: Econometrics 1. First semester of two-semester sequence in econometrics for PhD students. Studies least squares and generalized least squares estimation of linear econometric models. Asymptotic (large sample) theory of inference. Some topics in the estimation of microdata. Prereq., ECON 7818.

ECON 8838-3. Seminar: Econometrics 2. Teaches the advanced level of econometrics theory. Topics include asymptotic theory, maximum likelihood estimation, limited dependent variables analysis and other frontier areas of econometrics such as the method of moment estimation, semiparametric and nonparametric estimation procedure. Prereq., ECON 7828.

ECON 8848-3. Applied Microeconometrics. Presents a “user’s guide” to conducting empirical research in applied microeconomics. Begins with a primer on an industry-standard econometric software package including programming techniques and data management. Introduces advanced econometric techniques including panel data methods, IV, matching models, regression discontinuity, and limited dependent variables models. Concludes with a research project requiring a replication and/or extension of an existing published paper. Prereqs., ECON 7818 and 7828.

ECON 4309-3. Economics Honors Seminar 1. For information consult the department’s director of honors. Open only to qualified seniors.

ECON 4339-3. Economics Honors Seminar 2. For information consult the department’s director of honors. This course does not count toward major requirements. Prereq., ECON 4309. Open only to qualified seniors.

ECON 4909-3. Independent Study. May be repeated up to 6 total credit hours, but only 3 credit hours count for economics major. Prereqs., ECON 1000 or 2010 and 2020; completion of at least 12 hours of ECON classes and instructor and department consent required. Offered only to students with a GPA of 3.00 or better.

ECON 4939 (2-6). Internship/Seminar. Offers students the opportunity to integrate theoretical concepts of economics with practical experience in economics-related institutions. The theoretical portion arises from seminars and readings, the practical from activities in organizations related to the economics field. A maximum of 3 credit hours counts toward major requirements. Prereqs., ECON 3070 and 3080; junior or senior major standing; and instructor consent.

ECON 4999-3. Economics in Action: A Capstone Course. Students read current periodicals, picking out topics in which economics plays a role in understanding events. Background reading is assigned on topics chosen. May not be taken more than once for credit. Prereqs., ECON 3070 and 3080, and junior or senior standing.

ECON 6949 (1-3). Master’s Candidate. Will not be offered academic year 2008-09.

ECON 6959 (1-6). Master’s Thesis. Will not be offered academic year 2007–08.

ECON 8209-3. Economics Research Methods Workshop 1. Assists students starting their doctoral thesis by discussing methodology and evaluation of economic research. Presents and discusses student research proposals. Prereqs., two ECON courses at the 8000 level.

ECON 8219-3. Economics Research Methods Workshop 2. Continuation of ECON 8209. Assists students starting their doctoral thesis by discussing relevant economic research. Presents and discusses research papers. Prereq., ECON 8209.

ECON 8909 (1-3). Independent Study. May be repeated up to 7 total credit hours. Prereq., instructor and department consent.

ECON 8999 (1-10). Doctoral Dissertation. All doctoral students must register for not fewer than 30 hours of dissertation credit as part of the requirements for the degree. For a detailed discussion of doctoral dissertation credit, refer to the Graduate School section.