Economics (ECON)
Economics
Individual courses taken for credit under their former numbers may not be repeated
for credit under their present numbers. A grade of C or better in ECON 103 and
104 is a prerequisite to upper division economics courses.
100 Economics for the Citizen (3:3:0). Not available to
economics majors. A broad introduction to economic concepts and how they
can contribute to a better understanding of the world around us. Concepts are
developed and applied to current economic and social problems and issues. Less
formal modeling than in the 103104 sequence.
103 Contemporary Microeconomic Principles (3:3:0). Introduction
to microeconomics in the context of current problems. Explores how the market
mechanism allocates scarce resources among competing uses; uses basic tools of
supply and demand and production and distribution theory to analyze diverse problems.
104 Contemporary Macroeconomic Principles (3:3:0). Prerequisite:
ECON 103. Introduction to macroeconomics in the context of current problems.
National income analysis, money and banking, economic growth and stability, unemployment,
inflation, and the role of government.
110 Introduction to Economic Science (2:2:0). Prerequisites:
Registration is controlled; contact instructor for guidelines to register.
Introduction to economics as an observational science, covering such topics as
personal vs. impersonal exchange, strategic interdependence and game theory, group
decision making, and market design.
111 Laboratory Methods in Economics (1:0:3). Prerequisites:
Registration is controlled; contact instructor for guidelines to register.
Participate in experimental economics research by recruiting subjects, writing
experiment instructions, and monitoring sessions.
306 Intermediate Microeconomics (3:3:0). Prerequisites:
ECON 103 and 104, and MATH 108 or 113. Basic factors of price and distribution
theory, including analysis of demand, costs of production and supply relationships,
and price and output determination under various market structures.
309 Economic Problems and Public Policies (3:3:0). Prerequisites:
ECON 100 or 103 and 104 or permission of instructor. Important economic problems
in light of current and proposed public policies.
310 Money and Banking (3:3:0). Prerequisites: ECON 103
and 104 or permission of instructor. Monetary, commercial, and central banking
systems, with particular emphasis on their relationship with American government
programs, fiscal policies, and controls.
311 Intermediate Macroeconomics (3:3:0). Prerequisites:
ECON 103 and 104 or permission of instructor. Aggregate economic accounts,
including the measurement of national income; determinants of levels of income
and output; and causes and solutions for problems of unemployment, inflation,
and economic growth.
316 Economic Growth and Business Cycle (3:3:0). Prerequisite:
ECON 310 or 311 or permission of instructor. Factors contributing to sustained
economic growth with additional emphasis on business fluctuations and their measurement.
320 Labor Problems (3:3:0). Prerequisites: ECON 103 and
104 or permission of instructor. American labor unions and their effect on
society. Causes of and proposed solutions to selected problems.
321 Economics of Labor (3:3:0). Prerequisite: ECON 306.
Factors that determine levels of wages and employment and economic consequences.
Attention is directed to recent developments in unionism, collective bargaining,
and industrial technology.
330 Public Finance (3:3:0). Prerequisite: ECON 306 or
permission of instructor. Intergovernmental financial relationships; types,
incidences, and consequences of taxation; other sources of governmental income;
governmental expenditures and their effect; public economic enterprises; public
borrowing; and debt management and its economic effect.
335 Environmental Economics (3:3:0). Prerequisites: ECON
103 and 104. Microeconomic analysis of environmental problems. Topics include
an analysis of externalities and market failure, alternative solutions and policies,
problems in monitoring and enforcement, economic analysis of the development of
legislation and regulation, and applications to current policy issues.
340 Introduction to Mathematical Economics (3:3:0). Prerequisites:
ECON 306 and 311 and MATH 113, or permission of instructor. Mathematical
treatment of the theory of firm and household behavior, stabilization policy,
growth theory, input-output analysis, and linear programming.
345 Introduction to Econometrics (3:3:0). Prerequisites:
ECON 306 and 311 and DESC 210. Modern statistical techniques in estimating
economic relations.
350 Regional and Urban Economics (3:3:0). Prerequisite:
ECON 306 or permission of instructor. Regional development and metropolitan
growth, including locational decisions of households and firms and problems associated
with high-density urban economic activity.
360 Economics of Developing Areas (3:3:0). Prerequisites:
ECON 103 and 104 or permission of instructor. Economic growth characteristic
of developing countries. Economic development, obstacles to development, policies,
and planning.
361 Economic Development of Latin America (3:3:0). Prerequisites:
ECON 103 and 104 or permission of instructor. For non-Western credit. Economic
development, institutions, and problems of Latin America.
365 Topics in Economic History (3:3:0). Prerequisites:
ECON 103 and 104. Subject matter varies. Possible topics include ancient,
medieval, modern European, and American economic history, using econometric analysis
as necessary. May be repeated once for credit with permission of instructor.
370 Economics of Industrial Organization (3:3:0). Prerequisite:
ECON 306 or permission of instructor. Factors influencing industrial structure
and industrial conduct and performance.
372 Economics of E-Commerce (3:3:0). Prerequisites: ECON
103 or permission of instructor. Examines how the institutional rules, transaction
costs, and the behavior of agents affect the performance of electronic marketplaces.
380 Economies in Transition (3:3:0). Prerequisites: ECON
103 and 104 or permission of instructor. Examination of the problems and
achievements of formerly communist and socialist countries (including China, Eastern
European countries, and Russia and other countries of the former Soviet Union)
as they make the transition to more market-oriented economies. Includes examination
of the theories of market economics and central planning.
390 International Economics (3:3:0). Prerequisites: ECON
306 and 311 or permission of instructor. Foreign exchange market, balance
of payment, foreign trade policies, and theories of international trade.
403 Austrian Economics (3:3:0). Prerequisites: ECON 306
and 311. Microeconomic and macroeconomic models and the misallocation of
resources. Alternative economic tools from the unique a priori and subjectivist
approach of noted Austrian economists.
410 Public Choice (3:3:0). Prerequisite: ECON 306.
Application of economic theory and methodology to the study of nonmarket decision
making.
412 Game Theory and Economics of Institutions (3:3:0). Prerequisite:
ECON 306 or permission of instructor. Introduction to game theory and its
relevance for the analysis of the framework of rules and institutions within which
economic processes occur. Application of game theoretical concepts to a comparative
analysis of the causes and effects of alternative institutional arrangements.
415 Law and Economics (3:3:0). Prerequisite: ECON 306
or permission of instructor. An economic analysis of the law. Topics include
an introduction to legal institutions and legal analysis; application of economic
concepts to the law of property, contracts and torts, criminal law, and constitutional
law; the economic efficiency of the common law; and a public choice perspective
on the evolution of the law.
481 The Development of Economic Thought (3:3:0). Prerequisites:
ECON 306 and 311 or permission of instructor. Developments in economic thought
from 1500 to the present. Emphasis on historical origins, impact on contemporary
economics, and theoretical validity.
490 Senior Seminar on Problems in Economics (3:3:0). Prerequisites:
ECON 306 and 311, DESC 210, and 90 credits; economics majors only. Application
of economic tools to investigate problems in economics.
496 Special Topics in Economics (3:3:0). Prerequisite:
Varies with topic. Subject matter varies. May be repeated for credit with
permission of department.
499 Independent Study (1-3:0:0). Prerequisites: Economics
majors with 90 credits and permission of both department and instructor.
Individual study of a selected area of economics. Directed research paper required.
ECON 306 and 311, or equivalent, are prerequisites to all graduate courses
except ECON 600 and 602. Undergraduates are not permitted to enroll in 600-level
courses. Additional prerequisites are noted. With permission of the instructor,
additional prerequisites may be waived.
535 Survey of Applied Econometrics (3:3:0). Prerequisites:
DESC 210, ECON 306 and 311, or permission of instructor. Applied introduction
to estimating economic relationships. Simple equation and simultaneous equation
system estimation along with their associated problems. (Students who take ECON
535 may not take ECON 637 for credit.)
611 Microeconomic Theory (3:3:0). Prerequisite: Admission
to the doctoral or master's program or ECON 306, ECON 311, and MATH 113, or permission
of graduate coordinator. Theory of behavior of consumers, firms, and resource
suppliers. Theories of choice under conditions of risk and uncertainty. Partial
equilibrium analysis of competitive and noncompetitive markets. General equilibrium
analysis, welfare economics, and introduction to capital theory.
615 Macroeconomic Theory (3:3:0). Prerequisite: Admission
to the master's program in economics or ECON 306, ECON 311, and MATH 108, or permission
of graduate coordinator. Survey course covering monetary theory, theories
of consumption and saving, budget deficits, economic growth, international finance,
and monetary and fiscal policies.
623 American Economic History (3:3:0). Prerequisites:
ECON 611 and 615, taken concurrently, or permission of instructor. ECON
637 is recommended. Growth and development of the American economy as well
as the evolution of economic institutions.
630 Mathematical Economics I (3:3:0). Prerequisite: Admission
to the doctoral or master's program or ECON 306, ECON 311, and MATH 113, or permission
of instructor. Set theory, function, differential calculus, integration,
series, and matrix algebra, with special emphasis on the economic applications.
637 Econometrics I (3:3:0). Prerequisite: Acceptance to
the Ph.D. program, DESC 210, or permission of instructor. Techniques of estimating
relationships between economic variables. Introduction to multiple regression
and problems associated with the single equation model-autocorrelation, multicollinearity,
and heteroscedasticity.
676 Comparative Economic Systems (3:3:0). Capitalism, socialism,
and corporatism historical perspective. Includes examination of the economies
of representative contemporary countries.
715 Macroeconomic Theory I (3:3:0). Prerequisite: Admission
to the doctoral program or permission of graduate coordinator. Classical,
neoclassical, Keynesian, and post-Keynesian theories of income and employment
determination. Theories of inflation and growth. The demand for money and its
implications for the effectiveness of monetary vs. fiscal
policy.
812 Microeconomic Theory II (3:3:0). Prerequisite: ECON
611. Nature of the firm, theory of supply, and production functions, factor
pricing, and supplies. Introduction to microeconomic foundations of theories of
public finance and public choice.
816 Macroeconomic Theory II (3:3:0). Prerequisites: ECON
611 and 715 or permission of instructor. Aggregate economic activity and
price levels with emphasis on dynamic models. Topics vary.
817 Monetary Theory and Policy (3:3:0). Prerequisites:
ECON 615 and 637 or permission of instructor. Theory of the mechanisms through
which central banking affects economic activity and prices. Analysis of the demand
for money and its relationship to economic activity. The development of monetary
theory with emphasis on current theories and controversies in the field.
820 History of Economic Thought (3:3:0). Major figures in
the history of economic thought and the tools of analysis they created; emphasis
on classical, neoclassical, and Keynesian theories.
821 History of Economic Thought II (3:3:0). Development of
economic analysis from the "marginal revolution" of 1877 to present.
Emphasis on the development of neoclassical economic theory.
823 Topics in Economic History (3:3:0). Prerequisites:
ECON 611 and 615. Economic analysis of various historical epochs, such as
the Industrial Revolution, evolution of political reform, rise of unions, growth
of government.
825 Political Economy and Public Policy I (3:3:0). Prerequisite:
ECON 611 or permission of instructor. Economic process of public policy formulation
and implementation. Economic behavior of principals in policy making and execution.
826 Political Economy and Public Policy II (3:3:0). Prerequisites:
ECON 611, 615, and 825 or permission of instructor. Specific issues related
to political economy of public policy. Topics include privatization, political
economy of deficit spending, regulation and deregulation, and the economics of
rent seeking.
827 Economic Philosophy (3:3:0). Prerequisite: ECON 611
or permission of instructor. Analysis of the philosophical organization.
Interrelations between economics and legal and political institutions. Philosophical
presuppositions of a capitalist economy under constitutional democracy. Consideration
of alternative presuppositions for noncapitalist economies. Critical evaluation
of history of ideas in social and moral philosophy.
828 Constitutional Economics (3:3:0). Prerequisite: ECON
611 or permission of instructor. Analysis of existing and proposed elements
of the "economic constitution." Emphasis on fiscal, monetary, transfer,
and regulatory powers of government and on constitutional limits on such powers,
especially in the United States. Also includes analysis of proposed changes in
these limits.
829 Economics of Institutions (3:3:0). Prerequisite: ECON
611 or permission of instructor. Analysis of the framework of rules and institutions
within which economic activities and transactions are carried out. Emergence and
working properties of different institutions. Comparative discussion of classical
and contemporary approaches to an economic theory of institutions.
831 Mathematical Economics II (3:3:0). Prerequisite: ECON
630 or permission of instructor. Mathematical treatment of economic theories.
Static and dynamic analysis of macromodels. Input-output analysis. Optimization
techniques such as Lagrangian multipliers, linear programming, nonlinear programming,
and game theory.
838 Econometrics II (3:3:0). Prerequisite: ECON 637 or
permission of instructor. Econometric models and simultaneous equation systems.
Identification of parameters and least squares bias; alternative estimation methods
and block recursive systems.
842 Labor Economics (3:3:0). Prerequisites: ECON 611 and
615 or permission of instructor. ECON 637 is recommended. Formal models of
labor demand, supply, utilization, and wage determination. Determination of factor
shares in an open economy. Theory of collective bargaining and impact of trade
unions on wage rates and resource allocation. Measurement, types, and causes of
unemployment. Benefit-cost analysis of labor training and development projects.
844 Industrial Organization and Public Policy I (3:3:0). Prerequisite:
ECON 611 or permission of instructor. Structure of American industry and
underlying determinants. Analysis of structure and conduct on industrial performance
in light of theory and empirical evidence. Rational antitrust policy and analysis
of impact on structure and performance.
846 Industrial Organization and Public Policy II (3:3:0).
Prerequisites: ECON 611 and 844. Relation between law and economics and
theories of social control of property rights. Theories of market structure and
industrial performance.
849 Public Finance (3:3:0). Prerequisite: ECON 611 or
permission of instructor. Theoretical and institutional analysis of government
expenditure, taxation, debt management, and intergovernmental fiscal relations.
Allocative and distributional effects of alternative tax and subsidy techniques.
Principles of benefit-cost and cost-effectiveness analysis for government decisions.
852 Public Choice I (3:3:0). Prerequisite: ECON 611 or
permission of instructor. Application of economic theory and methodology
to the study of nonmarket decision making.
854 Public Choice II (3:3:0). Prerequisite: ECON 611 or
permission of instructor. The public choice approach is applied to study
such topics as the causes and consequences of governmental growth, the behavior
of public bureaucracies, and the economic reasoning behind constitutional limitations
on the size and growth of government.
856 Urban and Regional Economics (3:3:0). Prerequisite:
ECON 611 or permission of instructor. Regional development and metropolitan
growth economics including the locational decisions of households and firms, and
problems associated with high-density urban economic activity.
861 Economics of the Environment (3:3:0). Analysis of economic
models of ecosystems and pollutant discharges into the environment. Methods of
improving economic efficiency; review of public policies.
866 Economic Development (3:3:0). Prerequisites: ECON
611 and 615 or permission of instructor. Forces contributing to and retarding
economic progress in developing countries. The role of foreign trade, economic
integration, foreign investment, multinational corporations, and technological
transfers.
869 International Trade and Policy (3:3:0). Prerequisite:
ECON 611 or permission of instructor. Classical, neoclassical, and modern
theories of international trade. A study of the theory and practice of world trade
models such as project LINK. Analysis of foreign investment and economic growth,
tariffs and nontariff barriers, and economic integration; recent developments
with emphasis on natural resources.
871 International Monetary Economics (3:3:0). Prerequisite:
ECON 615 or permission of instructor. Examination of the international adjustment
mechanism, price and income effects, controls, and the monetarist approach. Development
of the international monetary system, the demand for international reserves, capital
movements, and the role of the International Monetary Fund.
880 Austrian Theory of the Market Process I (3:3:0). Prerequisite:
ECON 611. Economic theory developed by Menger, Mises, Hayek, and others of
the Austrian School and comparison with other currently popular theories.
881 Austrian Theory of Market Process II (3:3:0). Prerequisites:
ECON 611 and 615 (ECON 880 is recommended). Continuation of ECON 880. Topics
vary and include emphasis on market-process approach to analysis of capital accumulation,
growth, money and credit institutions, inflation, unemployment, and industrial
fluctuations.
885 Experimental Economics (3:3:0) Prerequisites: ECON
611 or permission of instructor. Designed for graduate students who have
a desire to learn how experimental methods can be used to inform economic research
and practice. Students are expected to have a working understanding of both basic
economic concepts and multivariate calculus.
886 Economic Systems Design (3:3:0). Prerequisites: ECON
885 or permission of instructor. Exposes students to research in applied
mechanism design. Topics represent the basic tools required to build, test, and
implement mechanisms in an applied setting.
895 Special Topics in Economics (3:3:0). Topics vary according
to interests of instructor. Emphasis on new areas of the discipline. May be repeated
for credit as topics vary.
896 Directed Reading and Research (3:0:0). Independent reading
and research paper on a topic agreed on by student and faculty member.
918 Seminar in Monetary Theory and Policy (3:3:0). Prerequisite:
ECON 817. Selected topics of current interest are discussed.
950 Seminar in Public Finance (3:3:0). Prerequisites:
ECON 611 and 849. Important public finance issues treated in seminar format.
985 Workshop in Experimental Economics (3:3:0). Prerequisites:
ECON 885, ECON 886. Designed for graduate students who have taken Experimental
Economics and Economic Systems Design and are applying experimental methods to
their own or collaborative research projects.
998 Doctoral Dissertation Proposal Research. Research on a
prospective dissertation topic. For students who have completed their course work
but who have not yet advanced to candidacy. Graded S/NC.
999 Doctoral Dissertation Research (variable credit). Prerequisites:
Admission to Ph.D. economics program and permission of dissertation advisor. Research
on an approved dissertation topic under the direction of dissertation committee.
May be repeated. Twenty-four credits may be applied to the doctoral degree requirement.
Graded S/NC.
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