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
macroeconom
ics 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: Completion or concurrent enrollment in
all other general education courses, ECON 103 and 104
or permission of instructor. Important economic problems
in light of current and proposed public policies. Topics
include environmental issues, international trade policies,
and regulatory issues and their historical roots.
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
externali
ties 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, or STAT 250.
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.
440 Economic Systems Design: Principles and
Experiments (3:3:0). Prerequisite: MATH 213.
Introduction to the design principles used in developing systems used
to allocate resources. Students will be required to
participate in experiment demonstrations of different allocation
mechanisms. In addition, students will be exposed to
experimental methods in economics and market design.
441 Economic Systems Design: Case Studies and
Analysis (3:3:0). Prerequisite: ECON
440. Involves students in designing specific allocation mechanisms for specific
problems. Students will be required to design and develop
a mechanism to a specific allocation problem. Students
must develop both an analytical model and a working
engineering model of their mechanism.
442 Economic Systems Design: Implementation
(3:3:0). Prerequisites: ECON 441. Involves students in
developing an experimental design to test their proposed
allocation solution. The design process will include the
construction of experimental parameters and treatments to test the
mechanism and an initial test of the mechanism in a
laboratory setting.
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.
632 Economic Systems Design - Principles and
Experiments (3:3:0). Prerequisites: A course in linear and
nonlinear optimization and a course in linear
algebra. Introduction to the analytical and engineering
principles used in developing exchange systems. Students will be
required to become familiar with the literature on
applied mechanism design and understand the behavioral
aspects of auction systems, matching, assignment and
transportation problems, and information markets. In addition,
students will be introduced to methods for testbedding
systems using experimental economics and statistical design.
633 Economic Systems Design - Case Studies and
Analysis (3:3:0). Prerequisite: ECON 632.
Students will begin the process of doing research in design economic
exchange system. The design process will include electronic
instructions and design of information structures. Student will
be responsible for research into the economic issues and
practical design issues associated with their research project.
634 Economic Systems Design - Implementation
(3:3:0). Prerequisite: ECON 633. Students will do original
research in economic systems design by constructing an
engineering model of a solution to an allocation problem.
Research will include an experimental and statistical design
along with a complete description of hypothesis related to
the construction of experimental parameters and treatments
to test their mechanism. An initial test of the mechanism in
a laboratory setting will be required.
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 exist
ing 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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