Undergraduate

  • EC-101 Applied Microeconomics

    Credits:

    4.00

    Description:

    Introduction to the organization and operation of a market economy with a focus on how it allocates scarce resources; development of the economic way of thinking. The analysis of the theory of consumer demand and the profit-maximizing behavior of firms; examination of pricing and output decisions of firms under conditions of competition and imperfect competition in a global marketplace. Analysis of markets for labor and capital. Policy issues include price ceilings and floors, trade barriers, competition and monopoly. Required of all majors in Economics. Normally offered every semester.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-H101 Honors Principles of Microeconomics

    Prerequisites:

    Honors Section Only : GPA of 3.3 or higher required.

    Credits:

    4.00

    Description:

    Introduction to the organization and operation of a market economy with a focus on how it allocates scarce resources; the analysis of consumer demand and profit maximizing behavior of business; examination of pricing and output decisions under conditions of competition, monopoly and imperfect competition. Analysis of markets for labor and capital. Policy issues include price ceilings and floors, competition and monopoly. Normally offered every semester.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-102 Global Macroeconomics

    Credits:

    4.00

    Description:

    This course provides an analysis of relationships among variables such as inflation, employment, economic growth, national income, and the supply of money. Heavy emphasis is placed on the role of government in setting both fiscal and monetary policy goals to achieve a stable economy. Balance of trade and exchange rates are examined to help provide an understanding of the global economy. Required of all majors and minors in Economics. Normally offered every semester.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-H102 Honors Principles of Macroeconomics

    Credits:

    4.00

    Description:

    The measurement of economic growth; introduction to the theory of determination of national income and the price level; unemployment and inflation; theories on economic growth and the role of labor and capital in economic growth; functioning and impact of the monetary system; analysis of monetary and fiscal policies for economic stabilization; international transactions and their influence on the domestic economy. Prerequisites: GPA of 3.2 or higher. Normally offered every year.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-122 Poverty and Inequality

    Credits:

    4.00

    Description:

    This course looks at economic inequality, with a particular focus on those in the United States who have low or no incomes - the poor. Measures inequality, identifies the poor, and considers a variety of explanations for poverty. Evaluates the purposes and effects of a range of public policies that might help alleviate poverty. Since race and gender play prominent roles in discussions of poverty, this course also considers issues pertaining to race and gender discrimination, and so examines the economics of both poverty and of discrimination. Cultural Diversity A.

    Type:

    Cultural Diversity Opt A,Social Science,BSJ SOCIAL SCIENCE

  • EC-131 Environmental Economics

    Credits:

    4.00

    Description:

    Identifies the environmental effects of economic activity, including polluted water and air, noise, and radiation, and values their costs and benefits. Analyzes mechanisms, including taxes and permits, for achieving a socially preferable level of pollution. Traces role played by institutions, including common ownership, in affecting environmental decay. Resource depletion (of oil, forests, and fisheries) and appropriate policy responses.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-141 Development Economics

    Credits:

    4.00

    Description:

    Why do so many countries remain so poor? Why have some (e.g. the Asian tigers) grown so rapidly? Why have most of the countries of Eastern Europe and the Former Soviet Union been slow to ignite economic growth? These questions are addressed by looking at domestic factors (government policies, resource endowments) as well as the international environment (mobile investors, international financial institutions). Asks what economic choices these countries face now. Normally offered yearly. Cultural Diversity B

    Type:

    Cultural Diversity Opt B,Social Science,Asian Studies,BSJ SOCIAL SCIENCE

  • EC-151 Economic & Human Geography

    Credits:

    4.00

    Description:

    The study of how economic and human activity is distributed across space, the reasons for these spatial distributions, and the processes that change the spatial organization of economic activity over time. Topics include: maps, map projections, and geographic information systems; population geography; the organization and location of cities, towns and villages; transportation and communication policy; industrial location; the geography of world trade; and geographic features of economic development. The course takes a global perspective, and draws on cases and examples from all over the world. Cultural Diversity B

    Type:

    Cultural Diversity Opt B,Social Science,BSJ SOCIAL SCIENCE

  • EC-311 Intermediate Micro Theory

    Prerequisites:

    EC 101 and EC 102

    Credits:

    4.00

    Description:

    Theory of consumer behavior and demand. Theory of production and costs of production. Theory of the firm, and price and output decisions in different market structures, i.e., under perfect competition, monopoly, monopolistic competition and oligopoly. Decisions relating to pricing and employment of various inputs (labor and capital) under perfectly competitive, and less than perfectly competitive, resource markets. Required of all majors in Economics. Normally offered every semester.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-312 Intermediate Macro Theory

    Prerequisites:

    EC-101 and EC-102

    Credits:

    4.00

    Description:

    This course covers the neoclassical and Keynesian models of aggregate economic activity. Coverage of the measurement of economic variables, such as aggregate income, the inflation rate, and the unemployment rate. Examines the behavior of the economy under conditions of price flexibility in the long run and price rigidity in the short run under rational and adaptive expectations. Analysis of the effect of changes in taxes and government expenditures, monetary policy and deficits on the economy. Coverage of the sources of economic growth. Required of all majors in Economics. Normally offered every semester.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-331 History of Economic Thought

    Credits:

    4.00

    Description:

    Presents the leading contemporary schools of economic thought as the outcome of theoretical and philosophical controversies that began with the ancient Greeks and that continue today. The course covers the major contributors to economic thought, including Aristotle, Aquinas, the mercantilists, and the contributors to the 18th-century enlightenment, notably Adam Smith and David Hume. Going forward, it considers Marx, the neoclassical school of Jevons, Menger and Walras and the Keynesian school, along with some of the more modern schools such as behaviorism, institutionalism and cognitive economics. The contributions of the economists and philosophers studied in the course are considered in context of the times in which they wrote and lived. Students will acquire a grasp of the principal tenets of contemporary economic theory as well as an understanding of the historical origins of the disputes that still divide economists on major theoretical and philosophic issues.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-340 Economics of Energy and Natural Resources

    Prerequisites:

    Take EC-101;

    Credits:

    4.00

    Description:

    This course applies economic analysis to identify the origins, consequences, and policy implications of problems related to renewable and non-renewable natural resources, with particular attention to energy. Resources considered include forests, fisheries, water, minerals, and land. Energy resources covered include oil, gas, coal, nuclear, and alternatives (wind, solar, biomass, hydrogen, etc.), as well as electricity. Concepts examined include externalities, learning-by-doing, peak-load pricing, regulation, sustainability, cost-benefit analysis, and the commons problem.

    Type:

    BSJ SOCIAL SCIENCE,Social Science

  • EC-402 Mathematical Economics

    Prerequisites:

    EC 101, EC 102, and MATH 134, MATH 146, or MATH 161.

    Credits:

    4.00

    Description:

    This course introduces the mathematical basis of economic theory. Emphasis is placed on the mathematical tools that have been developed for various applications in microeconomic and macroeconomic analysis. The techniques of comparative-statics analysis are developed. Univariate and multivariate calculus are then presented in the context of unconstrained and constrained optimization. The course concludes by introducing the foundations of discrete-time and continuous-time dynamic optimization.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-421 Public Economics: Tax and Budget

    Prerequisites:

    EC 101 and EC 102

    Credits:

    4.00

    Description:

    The theory of tax policy and tax structure. The effects on economic behavior (including labor supply, saving, risk-taking and investment, charitable giving, and growth) of different taxes (income, sales, value-added, inheritance, wealth, property). Tax equity, efficiency and incidence, in the United States and in comparative perspective. Additional topics include modeling state taxes; social security and pensions; and tax compensation. Normally offered yearly.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-423 Economics of Regulation

    Prerequisites:

    EC 101 and EC 102

    Credits:

    4.00

    Description:

    This course examines regulation and analyzes the structure, conduct, and performance of American industry. Monopoly and strategic behavior in oligopoly and monopolistic competition are considered. U.S. antitrust law and the effect of regulatory laws on industrial performance are explored. Regulatory practices, rate setting, deregulation, public-enterprise pricing, and issues in privatization are examined, with an emphasis on case studies and policy analysis. Normally offered every other year.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-430 Int'l Trade Theory & Policy

    Prerequisites:

    EC 101 and EC 102

    Credits:

    4.00

    Description:

    This course examines theories of international trade. The policy implications of each theory are explored and the effect of trade on the welfare of the nation is examined. Also the development of trade blocs and the the political economy of trade are studied. Normally offered every year.

    Type:

    Social Science,Asian Studies,BSJ SOCIAL SCIENCE

  • EC-433 Public Choice

    Prerequisites:

    EC-101 and EC-102

    Credits:

    4.00

    Description:

    This course considers the degree to which it is possible to explain, predict, and guide political decision through the application of economic analysis. The course is organized around two competing visions of public choice: (1) a traditional organic approach that sees the core problem for public choice as requiring the maximization of social welfare and (2) a newer contractual approach that sees that problem as requiring attention to the institutional framework within which political decisions are made. Topics to be considered include the Arrow paradox and other problems in aggregating individual choices, rent-seeking, the Leviathan hypothesis, and non- market demand-revealing methods.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-442 International Monetary Economics

    Prerequisites:

    EC 101 and EC 102

    Credits:

    4.00

    Description:

    The balance of payments and foreign exchange markets and instruments, and the determination of exchange rates. Balance-of-payments adjustments under alternative exchange-rate systems, international liquidity, international economics policy and open economy macroeconomics.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-445 The Economics of the European Union

    Prerequisites:

    EC 101 and EC 102

    Credits:

    4.00

    Description:

    An economic analysis of the European Union, the history of European monetary and economic integration. and the creation of the Euro. A survey of the development and evolution of key European policies, such competition, industry, agriculture, environment, regional, etc. A discussion of economic implications of the enlargement of the European Union, as well as its trade relations with the U.S. and other countries within the context of the World Trade Organization.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-450 Applied Econometrics

    Prerequisites:

    STATS 350 or permission of instructor

    Credits:

    4.00

    Description:

    A brief review of statistical methods, including probability theory, estimation, and hypothesis testing. This background is used in the construction, estimation, and testing of econometric models. The consequences of a misspecified model, where the assumptions of a classical regression model are violated, are studied and the appropriate remedial measures are suggested. Other topics include dummy variables, binary choice models, and autoregressive models. Emphasis is on applied aspects of econometric modeling. There is extensive use of statistical software for data analyses. Normally offered every year.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-460 Game Theory

    Prerequisites:

    EC 101 and EC 102

    Credits:

    4.00

    Description:

    This course introduces students to the foundations of game theory using applications from economics and everyday decision-making. The course examines the common strategic elements of interactions between consumers and producers, governments and citizens, politicians and their constituencies, countries and their trading partners, and various other participants in social relationships. The course provides a theoretical framework for modeling strategic interaction, beginning with the development of the concept of a Nash equilibrium, reputation, signaling, collective-action problems, and voting procedures and strategies. Normally offered every other year.

    Type:

    Quantitative Reasoning

  • EC-483 Money, Banking & Financial Markets

    Prerequisites:

    EC 101, EC 102

    Credits:

    4.00

    Description:

    This course examines the role of depository institutions and the Federal Reserve system in determining the supply of money. The course also explains the financial environment and the role of monetary policy decisions on changes in price, interest rates, money, and economic activity. The course provides the student with both theoretical and applied analysis. Prerequisites: EC 101, EC 102.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-490 Senior Seminar in Economics

    Prerequisites:

    Senior Standing; Or permission of Undergraduate Director.

    Credits:

    4.00

    Description:

    This is a required course for all students majoring in economics, to be taken in the spring semester of their senior year. Students are required to develop an economic thesis project in consultation with the professor for the course and to present it to the class.

    Type:

    BSJ SOCIAL SCIENCE,Social Science

  • EC-503 Internship in Economics

    Prerequisites:

    Instructor's consent required

    Credits:

    4.00

    Description:

    Approximately 12 hours per week working in a position designed to give the student responsibility and a learning opportunity in economics. Interested students should consult the instructor in advance.

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • EC-504 Economic Competitiveness: Theory and Practice

    Prerequisites:

    Instructor's consent required

    Credits:

    4.00

    Description:

    This course examines the concept of economic competitiveness among nations and states and its usefulness to policymakers seeking to improve economic conditions. The emphasis will be on state-based economic competitiveness. We will read the current literature on economic growth and competitiveness and explore the current controversy surrounding the shortcomings of business climate indices. Special attention will be given to Beacon Hill Institute's index which attempts to identify the states with the sets of policies that sustain long-term economic growth and sustainable high incomes for citizens. The student will apply a stress test to the BHI index identifying its strengths and weaknesses. To learn how the index is used by professionals, the student will also compare the index against similar measures and interview at least two practitioners on how their states apply the index. The student will meet regularly with her advisor and submit a research paper and a professional memorandum advising BHI on how best to improve the index.

    Type:

    Expanded Classroom Requirement

  • EC-510 EC Independent Study

    Prerequisites:

    An independent study form must be submitted to the CAS Dean's Office.

    Credits:

    1.00- 5.00

    Description:

    Independent study in economics

    Type:

    Social Science,BSJ SOCIAL SCIENCE

  • STATS-250 Applied Statistics

    Prerequisites:

    MATH 130, MATH 134, MATH 146 OR MATH 165

    Credits:

    4.00

    Description:

    Application of statistical analysis to real-world business and economic problems. Topics include data presentation, descriptive statistics including measures of location and dispersion, introduction to probability, discrete and continuous random variables, probability distributions including binomial and normal distributions, sampling and sampling distributions, statistical inference including estimation and hypothesis testing, simple and multiple regression analysis. The use of computers is emphasized throughout the course. Normally offered each semester.

    Type:

    Quantitative Reasoning

  • STATS-H250 Honors Applied Statistic

    Prerequisites:

    MATH 130, 134, 146, or 165; Honors Course; GPA of 3.2

    Credits:

    4.00

    Description:

    Application of statistical analysis to real-world business and economic problems. Topics include data presentation, descriptive statistics including measures of location and dispersion, introduction to probability, discrete and continuous random variables, probability distributions including binomial and normal distributions, sampling and sampling distributions, statistical inference including estimation and hypothesis testing, simple and multiple regression analyses. The use of computers is emphasized throughout the course. Prerequisite: MATH 130, MATH 134, MATH 146, or MATH 165 Honors Course GPA of 3.2 or higher required. 1 term - 4 credits Normally offered every year.

    Type:

    Quantitative Reasoning

  • STATS-350 Applied Statistical Methods

    Prerequisites:

    STATS 250

    Credits:

    4.00

    Description:

    This application-oriented course is designed to go beyond the topics covered in STATS 250. It includes topics like Analysis of Variance (ANOVA), special topics in regression analysis and index numbers. Further, time series data, which consist of values corresponding to different time intervals, are analyzed. The objective is to examine past time series values to forecast, or predict future values. Seasonal variations are also incorporated in the forecasts. The course will provide useful computer skills involving various statistical packages and is an excellent preparation for graduate work in business and social sciences.

    Type:

    Social Science

Graduate

  • EC-700 Quantitative Foundations of Economic Analysis

    Credits:

    1.00

    Description:

    This course is no longer offered.

  • EC-710 Macroeconomics

    Credits:

    3.00

    Description:

    Study of macroeconomic models and the application of these analytical models to examine current and past world economic problems. Topics include fundamental macroeconomic models which explain the determination of equilibrium output, the price level, exchange rates and balance of payments adjustment. Topics also include effects of money creation, government spending and taxation in an open economy as well as a closed economy, and international economic interdependence. Normally offered every year

  • EC-720 Applied Microeconomics

    Credits:

    3.00

    Description:

    The application of mathematical techniques in microeconomics to solve managerial decision problems. The theory of the firm is used to integrate microeconomics with decision sciences using various business applications. Topics include optimization, economic theory of consumer and firm behavior, risk and uncertainty. A global view of managerial economics is taken to reflect the current globalization of production and distribution in the world . Normally offered every year.

  • EC-721 Collective Choice and Tax Policy

    Credits:

    3.00

    Description:

    Examines how incentives impact government behavior and government actions impact the economic behavior of citizens. Topics include an examination of theories of the origin of the state, interest groups, rent seeking, regulation, bureaucracy, federalism, democratic efficiency, and taxation.

  • EC-723 Economics of Regulation

    Prerequisites:

    EC 720 or EC 820 or Instructors Permission

    Credits:

    3.00

    Description:

    This course examines regulation and analyzes the structure, conduct and performance of American industry. Monopoly and strategic behavior in oligopoly and monopolistic competition are considered. U.S. antitrust law and the effect of regulatory laws on industrial performance are explored. Regulatory practices, rate setting, deregulation, public-enterprise pricing, and issues in privatization are examined, with an emphasis on case studies and policy analysis. Normally offered every year.

  • EC-724 Cost-Benefit Analysis and Impact Evaluation

    Prerequisites:

    EC 720 or EC 820 or Instructors Permission

    Credits:

    3.00

    Description:

    The objective of the course is to expose students to the theoretical principles and practical applications of investment appraisal and risk analysis. It begins with the financial appraisal of investment expenditures, and then proceeds to a detailed discussion of the techniques of economic cost-benefit analysis. An integrated approach is applied to the financial, economic, distributive, and risk evaluation of projects. Students work on exercises and cases throughout the course. In general, an applied exercise accompanies each of the theoretical issues discussed in the lectures.

  • EC-730 International Trade Theory & Policy

    Credits:

    3.00

    Description:

    Analysis of the causes and consequences of international trade and international factor movements. Coverage of the neoclassical, the Heckscher-Ohlin and alternative theories of trade. Other topics include the instruments of trade policy, the impact of trade policies on economic welfare and income distribution, the political economy of protectionism, and the economics of integration.

  • EC-733 Public Choice

    Credits:

    3.00

    Description:

    This course considers the degree to which it is possible to explain, predict, and guide political decision through the application of economic analysis. The course is organized around two competing visions of public choice: (1) a traditional organic approach that sees the core problem for public choice as requiring the maximization of social welfare and (2) a newer contractual approach that sees that problem as requiring attention to the institutional framework within which political decisions are made. Topics to be considered include the Arrow paradox and other problems in aggregating individual choices, rent-seeking, the Leviathan hypothesis, and non-market demand-revealing methods.

  • EC-740 International Money and Finance

    Prerequisites:

    EC 710

    Credits:

    3.00

    Description:

    Analysis of equilibrium in international financial markets; open economy macroeconomic models, exchange rate movements, foreign currency market behavior and the international monetary system. Topics include theoretical aspects and empirical evidence of basic equilibrium conditions in international financial transactions, balance of payment adjustments, various approaches to the determination of foreign exchange rates, an analysis of the behavior of the foreign currency market under uncertainty, and international monetary integration focused on the evaluation of the European Monetary Union. Prerequisite: EC 710. Normally offered every year.

  • EC-742 Development Economics

    Credits:

    3.00

    Description:

    Asks why some countries are poor and others are rich. Examines growth over the very long term. Macroeconomic issues include the role of stability, structural adjustment, savings, exchange rate policy, technology and its diffusion, and institutions. Microeconomic topics include demography, education, health, the analysis of poverty and inequality, microfinance, social capital and property rights. The special problems of post-war economic reconstruction. The course includes significant work with large household datasets. Normally offered every other year.

  • EC-745 International Financial Economics

    Credits:

    3.00

    Description:

    Introduction to foreign exchange markets and risks and the determination of exchange rates. A survey of international capital markets, debt and equity financing. Examination of the relationship between interest rates and exchange rates. The measurement and management of exchange risks. Coverage of international corporate finance and foreign currency derivatives.

  • EC-750 Applied Econometrics

    Credits:

    3.00

    Description:

    A brief review of statistical methods including probability theory, estimation, and hypothesis testing. This background is used in the construction, estimation, and testing of econometric models. The consequences of a misspecified model, where the assumptions of a classical regression model are violated, are studied and the appropriate remedial measures are suggested. Other topics include dummy variables, binary choice models, and autoregressive models. Emphasis is on applied aspects of econometric modeling. There is extensive use of statistical software for data analyses. Normally offered every year.

  • EC-755 Global Data Analysis

    Prerequisites:

    Pre-requisites: (EC 710 or EC 810) and (EC 750 or EC 850)

    Credits:

    3.00

    Description:

    The emphasis in this course is on the use and interpretation of real world economic and financial data. Emphasis is on hands-on experience of retrieving data from various databases and then using quantitative tools for analytical purposes. Major economic indicators, the behavior of developed and emerging equity markets, currency movements, sovereign risk, the determinants of international capital flows and international trade patterns will be studied. The course trains students in using economic and financial databases, applying quantitative statistical techniques and using econometric software packages that are employed in economic and financial analysis and marketing research. Prerequisites: EC 710 and EC 750. Normally offered every year.

  • EC-760 Applied Time Series Methods

    Prerequisites:

    EC 750 or EC 850

    Credits:

    3.00

    Description:

    Modeling and forecasting with time series data. Various forecasting techniques, including the autoregressive moving average (ARMA) models are presented. These techniques are applied to a wide range of economic and financial data. The latter part of the course deals with other time series econometric issues such as testing for a unit root, ARIMA models, cointegration, and the ARCH/GARCH family of models.

  • EC-785 Topics in Economics

    Prerequisites:

    EC 710 or EC 810, and EC 720 or EC 820, and EC 750 or EC 850

    Credits:

    3.00

    Description:

    This seminar course considers issues of current and academic importance in economics. It is centered on the writing of a substantial research paper. The course includes a discussion of how to design an outline, conduct a literature review, build and estimate an economic model, collect data, and report the results clearly and correctly. Normally offered every year.

  • EC-786 Topics in International Economics

    Prerequisites:

    EC 710 or EC 810, EC 720 or EC 820, and EC 750 or EC 850

    Credits:

    3.00

    Description:

    This seminar course considers issues of current and academic importance in international economics and finance. It is centered on the writing of a substantial research paper. The course includes a discussion of selecting a topic of the research paper, a literature review of the topic, building an analytical framework, determining estimation techniques, collection of data, presentation and analysis of estimation results, and a proper reporting of the completed paper. Prerequisites: EC 710, EC 720 and EC 750. Normally Offered every year.

  • EC-790 Internship

    Prerequisites:

    Permission of Graduate Director

    Credits:

    3.00

    Description:

    Field-related work in a government agency, research organization, financial institution or consulting company. Students will work under the supervision of the office where they are placed and of a faculty member. The internship will result in a written report on the outcome of the work performed. Permission of Master's Program Director required. Normally offered every semester.

  • EC-800 Quantitative Foundation of Advanced Economic Analysis

    Credits:

    3.00

    Description:

    This course is designed for first-year Ph.D. students and reviews mathematical and statistical tools frequently used in advanced economic analyses. Included topics in the mathematics portion are real analysis, linear algebra, differential and integral calculus, and differential and difference equations. The statistics portion includes univariate and multivariate distributions, asymptotic distribution theory, and estimation and hypothesis testing. Normally offered every year.

  • EC-801 Economic Thought & Public Choice

    Credits:

    3.00

    Description:

    An investigation of the major themes in Economic thought running from the ancient Greeks to modern times. There will be an emphasis on thinkers in the classical liberal mode, such as Simon, Hume, Mill and the Austrians. There will be further emphasis on the contribution of these and other thinkers to the emergence of capitalism and democracy. The course will include an examination of recent developments in economics, such as neuroeconomics and Behavioral and experimental economics, for their origins in the writings of Smith and the Institutionalists. Students will write a paper tracing a major theme in current economic thought to its historical origin.

  • EC-802 Teaching Workshop

    Credits:

    1.00

    Description:

    Required of all students in the second semester of their second year of pursuing their Ph.D. The purpose of this course is to offer training in the teaching of economics. The focus will be on classroom preparation, testing and grading, web support, student retention and other elements of a successful classroom experience. At the completion of the course, students will be graded on a Pass/Fail criteria, based on the instructor's determination of the student's readiness to teach in the classroom.

  • EC-803 The Philosophy of Economics

    Prerequisites:

    Take EC-811 EC-821 and EC-851;

    Credits:

    3.00

    Description:

    The course will be conducted as a seminar, with weekly discussions and paper presentations on assigned readings. Topics to be covered include the question of whether the neoclassical model stands up to critiques from Austrians, Behaviorists and those cognitive scientists who question the existence and/or autonomy of the individual decision maker. Another topic is whether methodological individualism continues to serve as a viable approach to economics, given evidence that people do not choose rationally. Other topics: general equilibrium theory and its critics, methodological disputes between a priorists and empiricists, and how neuroeconomics informs our understanding of choice theory.

  • EC-810 Advanced Macroeconomics I

    Credits:

    3.00

    Description:

    This course divides itself into three principal topics: (1) economic growth, (2) the effects of shocks and rigidities on the performance of the economic system and (3) the effects of government policy on economic growth and performance. The course begins with a consideration of the Solow model and then generalizes the discussion to allow for endogenous savings, constraints on natural resources and adjustment costs associated with capital spending. Discussion of economic shocks focuses on the Lucas model and its critics. Government policy is considered for its effectiveness or ineffectiveness under alternative assumptions concerning price rigidities. The course makes ample use of elementary differential and integral calculus. Normally offered every year

  • EC-811 Macroeconomics II

    Prerequisites:

    EC 810

    Credits:

    3.00

    Description:

    This course covers dynamic macroeconomic models involving business cycles, external balances, wage-price dynamics, and financial markets. Other advanced topics including monetary and fiscal policies, nominal and real rigidities, and global financial crisis are also covered.

  • EC-820 Microeconomics I

    Credits:

    3.00

    Description:

    This course introduces the foundations of advanced microeconomic analysis. We develop preference- and choice- based frameworks for choice theory, classical demand theory, and producer choice. We then examine partial equilibrium analysis of competitive markets, externalities and public good followed by choice under uncertainty. This course is offered concurrently with Quantitative Foundations of Advanced Economic Analysis (EC 800) and is the first of two courses covering advanced microeconomic theory. Advanced Microeconomic Theory II (EC 821) is the continuation course and is offered during the spring semester. Normally offered every year

  • EC-821 Microeconomics II

    Prerequisites:

    EC 820

    Credits:

    3.00

    Description:

    This course in microeconomic theory is a continuation of Advanced Microeconomic Theory (EC 820). It is designed to provide students with a firm grounding in microeconomics and to help them apply economic models in their research. The course covers decision-making under uncertainty; information economics and related topics of game theory (including incentive theory, moral hazard, mechanism design, signaling, bargaining, and auctions) welfare economics and social choice; and public economics, including externalities and public goods.

  • EC-823 Economics of Regulation

    Prerequisites:

    EC 820

    Credits:

    3.00

    Description:

    This course examines regulation and analyzes the structure, conduct and performance of American industry. Monopoly and strategic behavior in oligopoly and monopolistic competition are considered. U.S. antitrust law and the effect of regulatory laws on industrial performance are explored. Regulatory practices, rate setting, deregulation, public-enterprise pricing, and issues in privatization are examined, with an emphasis on case studies and policy analysis. Ph.D. students are required to write and present a major research paper related to regulation. Normally offered every year.

  • EC-824 Political Economics

    Prerequisites:

    EC 821

    Credits:

    3.00

    Description:

    This graduate-level course uses game theoretical models to study how (economic) policies are determined in democracies. Covers the basic models (Hotelling-Downs spatial competition, probabilistic voting, partisan voting) as well as some recent extensions (models of lobbies and political agency). Applications to political economy of reform and persistence of inefficient economic policies are presented. The course is mostly theoretical. The goal is to give the students the necessary tools to study the economics of politics.

  • EC-825 Advanced Public Economics

    Prerequisites:

    EC 821

    Credits:

    3.00

    Description:

    A doctoral-level treatment of topics in public choice and public finance. Public Choice focuses on understanding why government operates the way it does and how it impacts efficiency. Public Finance focuses on how governments raise tax revenue and how that impacts efficiency. Topics include an examination of theories of the origin of the state, interest groups, rent seeking, regulation, bureaucracy, federalism, democratic efficiency, and taxation.

  • EC-826 Financial Economics

    Prerequisites:

    Take EC-821 and EC-851

    Credits:

    3.00

    Description:

    This course provides a solid foundation in financial economics, for both researchers and practitioners. The course begins by setting out the nature of decision-making under uncertainty in the context of financial markets. It then examines portfolio management, including mean-variance, utility-maximizing, and behavioral approaches. Attention next turns to asset valuation - of equities and fixed income securities, as well as financial derivatives (including a derivation of the Black-Scholes model, the application of Levy-stable distributions, and simulation exercises). Other topics may include corporate capital structure, and the use of real options. Prerequisites: EC 820, EC 821, EC 850 and EC 851 or instructor's permission.

  • EC-827 Empirical Financial Economics

    Prerequisites:

    Take EC-826 and EC-851;

    Credits:

    3.00

    Description:

    This course explains and applies the techniques of time-series analysis that are required to understand and estimate relationships in financial economics, including models of asset prices and returns. Topics include ARIMA models, univariate and multivariate GARCH models, TAR and other nonlinear models, extreme value theory and VaR, vector autoregressions (VAR), and neural networks. These methods are used by professionals in portfolio management, economic and financial consulting, and securities regulation.

  • EC-828 Collective Choice and Tax Policy

    Prerequisites:

    EC-821;

    Credits:

    3.00

    Description:

    A doctoral-level treatment of topics in public choice and public finance. Public Choice focuses on understanding why government operates the way it does and how it impacts efficiency. Public Finance focuses on how governments raise tax revenue and how that impacts efficiency. Topics include an examination of theories of the origin of the state, interest groups, rent seeking, regulation, bureaucracy, federalism, democratic efficiency, and taxation.

  • EC-830 International Trade Theory and Policy

    Prerequisites:

    EC 820

    Credits:

    3.00

    Description:

    The course covers the causes and consequences of international trade. Coverage of the classical, neo-classical and modern theories and empirical studies on the determinants of trade, such as technology, factor endowments, and increasing returns to scale. The determinants of offshoring and its economic effects. The effects of trade on the distribution of income. Coverage of the economic and welfare effects of trade policy instruments. The political economy of trade policy. The effects of economic growth on trade. The effects of trade on economic development.

  • EC-840 Advanced International Monetary Economics

    Prerequisites:

    EC 821 and EC 850

    Credits:

    3.00

    Description:

    Analysis of the monetary side of the international economy. Topics include balance of payments, determination of foreign exchange rates, central bank intervention in the foreign exchange market, foreign exchange market efficiency, monetary and fiscal policy in open economies, international macroeconomic interdependence and policy coordination, currency crisis and international monetary integration.

  • EC-842 Development Economics

    Prerequisites:

    Take EC-810;

    Credits:

    3.00

    Description:

    A PhD-level treatment of development economics. Topics include the measurement of economic development, poverty, and inequality; the theory and empirics of economic growth, with special attention to the role of initial conditions; and the impact of recessions on developing countries. Microeconomic topics include demography, land rights, human capital (including education and health), capital markets (including microfinance), the environment, and the role of government (including issues related to war, corruption, the development of institutions, and social capital). The course includes significant work with large household datasets. Normally offered every other year.

  • EC-850 Econometrics I

    Credits:

    3.00

    Description:

    Introduction to econometrics with a focus on application. Includes a review of statistical methods for estimation, inference, and hypothesis testing. After the presentation of the classical linear regression models under ideal conditions, consequences of misspecification and violations of the ideal conditions are studied with suggestions on appropriate remedial measures. The course requires advanced knowledge of matrix algebra and calculus. Normally offered every year.

  • EC-851 Econometrics II

    Prerequisites:

    EC 850

    Credits:

    3.00

    Description:

    Advanced topics in applied econometrics. The lectures cover systems of regression equations, simultaneous equation models, panel data models, and selected further topics. In addition to studying the relevant techniques, the course includes detailed discussions of papers in applied econometrics. The emphasis is on the application of the various methods using standard econometric software.

  • EC-855 Advanced Time Series Applications

    Prerequisites:

    Take EC-850 and EC-851;

    Credits:

    3.00

    Description:

    A survey of modern time series econometrics. Topics include univariate and multivariate models for stationary time series, vector autoregressions, linear and nonlinear filtering, frequency domain methods, unit roots, cointegration, structural breaks, forecasting, and application of technical tools to various aspects of international economics and economic policy. Normally offered every year.

  • EC-861 Nonparametric Econometrics

    Prerequisites:

    EC 851

    Credits:

    3.00

    Description:

    This course covers some selected topics in advanced econometrics, including an introduction to nonparametric and semiparametric statistical methods and their application in econometrics. The emphasis is on nonparametric density estimation, nonparametric regression, and semiparametric estimation of single-index models including discrete-choice models. The course also covers computer intensive methods including bootstrap and numerical optimization. Besides a theoretical introduction of these methods, the course heavily relies on students writing computer codes using popular software to complete homework assignments.

  • EC-862 Applied Time Series Methods

    Prerequisites:

    Take EC-750 or EC-850;

    Credits:

    3.00

    Description:

    This doctoral-level course provides an introduction to some of the important methods of time-series econometrics that are frequently employed in empirical economic or financial studies with time-series data. The focus is initially on the identification and estimation of ARMA models, including time trend and seasonality,and then on forecasting and forecast evaluations which will be based on the estimated model. Other topics to be discussed include vector autoregressions (VAR), unit root tests, ARIMA models, and univariate ARCH/GARCH models.

  • EC-870 Industrial Organization

    Prerequisites:

    EC 821 and EC 850

    Credits:

    3.00

    Description:

    Industrial structure, firm behavior, and performance are analyzed using models of strategic interaction among competing firms. Monopoly pricing product differentiation, price discrimination, price and non-price competition, entry, exit, and investment in research and development are explored using contemporary models of industrial organization.

  • EC-880 Ph.D. Research Workshop I

    Prerequisites:

    Completion of Ph.D. qualifying examinations and field courses

    Credits:

    3.00

    Description:

    This course is designed to help students make progress on their dissertations. The workshop is a forum for presenting current work, discussing research, and enhancing scientific writing skills. Each student is expected to identify a research topic of interest during the summer prior to enrolling in this course. Students will present a research proposal in the beginning of the course and must write and present a field paper by the end of the course. Normally offered every year

  • EC-881 Ph.D. Research Workshop II

    Prerequisites:

    Pre-requisites: EC 880

    Credits:

    3.00

    Description:

    This course is a continuation of EC 880, and is designed to help students make progress on their dissertation research. The workshop provides a forum for presenting and discussing ongoing research and enhancing scientific writing skills. Students are required to submit a paper in the area of their dissertation research by the end of the course.

  • EC-901 Dissertation Research

    Prerequisites:

    Permission of Graduate Program Director required

    Credits:

    0.00

    Description:

    Research towards completion of doctoral dissertation. Permission of Graduate Program Director required.

  • EC-910 Independent Study

    Credits:

    3.00

    Description:

    Independent study in Economics

  • EC-999 Economics PhD Continuation

    Prerequisites:

    Permission of Graduate Program Director required

    Credits:

    0.00

    Description:

    Research towards completion of doctoral dissertation. Permission of Graduate Program Director required.