Economics

The Department of Economics offers courses and practical training leading to a Master of Arts in Economics and a Doctor of Philosophy in Economics. The department also participates with the MBA Program in offering the MBA/MA in Economics joint degree program.

Admission and Degree Requirements

Courses

ECON 400. Honors Econometrics. 3 or 4 hours.

Estimation of economic relationships and testing of economic hypotheses; ordinary least square regression and extensions; derivations of estimators, proofs of theorems. Course Information: 3 undergraduate hours; 4 graduate hours. Credit is not given for ECON 400 if the student has credit in ECON 300. Prerequisite(s): ECON 120 or ECON 121; and MATH 180; and either ECON 270 or IDS 270.

ECON 436. Mathematical Economics. 3 or 4 hours.

Application of mathematics to theories of consumer and producer behavior, determination of prices in markets, growth and stability features of macroeconomic models. Course Information: 3 undergraduate hours. 4 graduate hours. Prerequisite(s): ECON 220; and MATH 180 or MATH 165.

ECON 441. Teaching Methods in Economics. 3 or 4 hours.

Develops skills in preparing and giving lectures and examinations, computer usage and other aspects of teaching economics and consumer economics at secondary/higher education levels. Course Information: 3 undergraduate hours. 4 graduate hours. Credit earned in ECON 441 may not be used to satisfy Economics credit requirements for the BA, BS, MA or PhD degrees awarded by the Department of Economics. Credit earned in ECON 441 may be applied toward the degree as an elective. Prerequisite(s): For undergraduate students, two 300- or 400-level electives in economics; for graduate students in economics, one course in graduate-level microeconomics or macroeconomics.

ECON 442. Topics in Economic Education. 1-4 hours.

Topics vary. Course content is announced prior to each term in which it is given. Course Information: May be repeated for credit. Students may register for more than one section per term. Credit for this course may not be used to satisfy the minimum number of Economics credit hours needed for the BA, BS, MA or PhD in Economics. It may be used as general elective credit for these degree programs or as the Economic Education course requirement for the Certificate in the Teaching of Economics. Prerequisite(s): Consent of the instructor. Prerequisites may vary according to topic.

ECON 450. Business Forecasting Using Time Series Methods. 3 or 4 hours.

Autoregressive, moving average, and seasonal models for time series analysis and business forecasting. Forecasting using multi-variable transfer function models. Course Information: Same as IDS 476. 3 undergraduate hours. 4 graduate hours. Prerequisite(s): IDS 371 or ECON 300 or ECON 400; or consent of the instructor.

ECON 472. Real Estate Finance. 3 or 4 hours.

Finance principles applied to real estate; financing of residential and income-producing real estate; real estate development finance; secondary mortgage market; taxation and real estate finance. Course Information: Same as FIN 472. 3 undergraduate hours. 4 graduate hours. May not be used to satisfy the Economics credit requirement for the MA in Economics and PhD in Economics. Elective credit only will be applied toward these degrees. Prerequisite(s): ECON 220.

ECON 473. Game Theory. 3 or 4 hours.

Introduction to the basic ideas of game theory. Static and dynamic games; mixed strategies, imperfect information; economic, political and biological applications. Course Information: Same as STAT 473. 3 undergraduate hours. 4 graduate hours. Prerequisite(s): STAT 381; or ECON 270; or equivalents.

ECON 499. Independent Study in Economics. 1-3 hours.

Independent study of a topic not covered in a graduate-level course. Course Information: Prerequisite(s): Graduate standing and consent of the director of graduate studies and the instructor.

ECON 500. Managerial Economics. 4 hours.

Economic analysis applied to business operations; demand theory; production cost analysis; capital theory; pricing policies; capital budgeting. Course Information: Prerequisite(s): ECON 501 or ECON 520.

ECON 501. Applied Microeconomics I. 4 hours.

Microeconomic theory, consumer and producer behavior and determination of market price. Course Information: Prerequisite(s): Grade of C or better in ECON 481 and Grade of C or better in ECON 482.

ECON 502. Applied Microeconomics II. 4 hours.

This second course in microeconomic theory covers game theory, economics of uncertainty, general equilibrium analysis, and welfare economics. Course Information: Prerequisite(s): Grade of C or better in ECON 501 or Grade of C or better in ECON 509. Credit is not given for ECON 502 if the student has credit in ECON 510.

ECON 509. Microeconomic Theory I. 4 hours.

The fundamentals of microeconomic theory, with a particular emphasis on research-relevant applications of theoretical concepts.

ECON 510. Microeconomic Theory II. 4 hours.

Advanced microeconomic theory. Theories of consumer behavior, uncertainty, general equilibrium, welfare economics. Course Information: Prerequisite(s): ECON 509.

ECON 511. Macroeconomic Theory I. 4 hours.

Static and dynamic theories of income, employment exchange rate and the price level; advanced treatment of consumption, investment, money demand and aggregate production functions; stabilization theory and policy.

ECON 512. Macroeconomic Theory II. 4 hours.

Neoclassical and modern market-clearing models of real and monetary influences on economic growth, inflation and business cycles. Course Information: Prerequisite(s): ECON 511.

ECON 513. Special Topics in Macroeconomics and International Economics. 4 hours.

Intense study of selected research topics in macroeconomics and international economics. Topics may vary. Course Information: Prerequisite(s): ECON 512.

ECON 514. International Trade Policy. 4 hours.

Theoretical models on the causes and consequences of international trade and their empirical validation. Effects of tariff and non-tariff trade policies and preferential trade agreements. Course Information: Prerequisite(s): ECON 509.

ECON 515. International Monetary Policy. 4 hours.

Capital mobility and stabilization policy under fixed and flexible exchange rates; optimum currency areas; reform of international monetary system; problems of liquidity adjustment and confidence. Course Information: Prerequisite(s): ECON 511.

ECON 516. Economic Development in an Interdependent World. 4 hours.

Theoretical and empirical studies of economic development with intersectoral and international perspectives; structural change and resource reallocation; factor proportions, substitutability, and movement; export-led growth. Course Information: Prerequisite(s): ECON 509.

ECON 519. International Economics for Business. 4 hours.

Comparative advantage. Trade policy. Custom unions and free-trade areas. Balance of payments and foreign-exchange markets. Capital mobilty and other globalization issues. Stabilization policy. Monetary integration. Course Information: Credit for ECON 519 may not be used to satisfy Economics credit requirements for the MA or PhD in Economics or for the PhD in Business Administration (Concentration in Economics). Credit is not given for ECON 519 if the student has credit for ECON 333, ECON 415 or ECON 515. Prerequisite(s): ECON 520.

ECON 520. Microeconomics for Business Decisions. 4 hours.

Efficient allocation of resources by consumers, profit and non-profit firms and government, regulation of industry, monopoly and imperfect competition, business ethics and the market place, efficiency versus equity, social welfare. Course Information: Credit is not given for ECON 520 if the student has credit in ECON 509. Prerequisite(s): MATH 165 or MATH 181 or the equivalent.

ECON 521. Macro and International Economics for Business. 4 hours.

Impact of the macro economy and international economics on business decisions. Determination of economic activity, inflation, interest rates and exchange rates. Role of monetary and fiscal policy. Course Information: Credit is not given for ECON 521 if the student has credit in ECON 511.

ECON 531. Labor Economics I. 4 hours.

Determinants of wage differentials; analysis of determinants and consequences of investments in human capital (schooling, on-the-job training, health); labor mobility, supply and allocation of time. Course Information: Prerequisite(s): ECON 509.

ECON 532. Labor Economics II. 4 hours.

Impact of training, legislation, institutional constraints, and discrimination on the labor market. Focus on demographic groups (race, nativity, ethnicity, gender). Course Information: Prerequisite(s): ECON 509.

ECON 533. Economic Development and Human Resources. 4 hours.

Economic Theory applied to less developed countries, focusing on humann aspects of development. Household economy, employment, earnings; labor productivity, unemployment; migration, population growth, income distribution. Course Information: Prerequisite(s): ECON 501 or ECON 520.

ECON 534. Econometrics I. 4 hours.

Detailed treatment of the multivariate linear regression model using matrix algebra. Emphasis on formulating and testing static and dynamic econometric models.

ECON 535. Econometrics II. 4 hours.

Detailed treatment of simultaneous equations estimation; evaluation of alternative estimators; problems of estimation including PROBIT, LOGIT, TOBIT and error component models. Course Information: Prerequisite(s): ECON 534.

ECON 536. Advanced Mathematical Economics. 4 hours.

Mathematics theory and applications, including calculus and linear algebra, to theories of consumer and producer behavior, general equilibrium, welfare economics, externalities, and social choice. Course Information: Prerequisite(s): MATH 181.

ECON 537. Business Research and Forecasting I. 4 hours.

The role of research in business; forecasting methods and techniques, including models and their applications. Course Information: Same as IDS 582. Prerequisite(s): ECON 534 and at least one statistics course with regression analysis at the 300-level or above.

ECON 538. Business Research and Forecasting II. 4 hours.

The role of research in business; forecasting methods and techniques, including multivariate time series models and their applications. Course Information: Same as IDS 583. Prerequisite(s): ECON 537 or IDS 582; and graduate standing.

ECON 539. Microeconometrics. 4 hours.

Application of econometric techniques to empirical problems in microeconomics with emphasis on issues of identification and causality; and the selection, implementation and testing of statistical models. Course Information: Prerequisite(s): ECON 509 and ECON 535.

ECON 551. Economics of Education. 4 hours.

Basic concepts and tools of economics applied to education. Economic implications of educational outcomes for the economy, and for socioeconomic structure (e.g., income distribution, fertility patterns, ethnic group differences). Course Information: Prerequisite(s): ECON 509.

ECON 552. Economic Demography. 4 hours.

Economic analysis of fertility (number and timing of children), mortality, marriage and divorce, population age structure, the relationship between population growth and economic development. Course Information: Prerequisite(s): ECON 509.

ECON 553. Economics of Religion. 4 hours.

The economic determinants of participation in religious activities; the effects of religion on economic and demographic behavior, health, and well-being. Course Information: Prerequisite(s): ECON 501 or ECON 520.

ECON 555. Health Economics I. 4 hours.

Applied economic theory that examines the determinants of health, the market for health insurance, and important determinants of the price and quantity of health care services. Course Information: Prerequisite(s): ECON 509; or consent of the instructor.

ECON 556. Health Economics II. 4 hours.

Economics of health-related behaviors, prevention and health promotion, health disparities, health and development, evaluation of health-related interests. Course Information: Prerequisite(s): ECON 509.

ECON 560. Industrial Organization. 4 hours.

Analysis of industry structure, behavior and performance; firms in imperfect competition; concentration measurement; oligopoly; theory; cartels; price discrimination; vertical and horizontal integration. Course Information: Prerequisite(s): ECON 501 or ECON 520 or consent of the instructor.

ECON 570. Environmental and Natural Resource Economics. 4 hours.

Analytical methods for evaluating the impacts and control costs of pollution externalities and natural resource changes. Consequent implications for public and business policy. Course Information: Prerequisite(s): ECON 501 or ECON 520.

ECON 571. Urban Real Estate and Land Economics. 4 hours.

Economic analysis of urban real estate and land. Real estate appraisal. Demand for urban land; supply of land and improvements. Course Information: Prerequisite(s): ECON 501 or ECON 520.

ECON 572. Urban Economics. 4 hours.

Urban economic models and economic analysis of urban problems. Firm location, housing, transportation, local public finance. Course Information: Prerequisite(s): ECON 509.

ECON 575. Economic Analysis of Public Expenditures. 4 hours.

Microeconomic theory as applied to public expenditure decisions; public goods, externalities and asymmetric information; measures of surplus; investment criteria; distributional considerations; shadow prices; social insurance; fiscal federalism. Course Information: Prerequisite(s): ECON 509.

ECON 576. Economics of Taxation. 4 hours.

Analysis of the effects of taxation on economic behavior; taxation and public choice; the effects of taxation on the distribution of income; theory and empirical analysis of welfare effects of taxes; optimal tax theory; issues in tax policy and tax reform. Course Information: Prerequisite(s): ECON 509.

ECON 593. Internship Program. 0-8 hours.

Under the direction of a faculty supervisor, students work in government or a private firm on problems related to their major field of interest. Specific credit allotted is determined by the Graduate Curriculum Committee after receiving the supervisor's recommendation. Course Information: Prerequisite(s): Completion of the core courses in the degree program in which the student is enrolled and approval of the internship program by the graduate adviser and the Graduate Curriculum Committee.

ECON 594. Special Topics in Economics. 1-4 hours.

An intensive study of a selected topic in economics. Course Information: May be repeated. Students may register in more than one section per term.Topics vary by sections and by term. Prerequisite(s): ECON 509; and consent of the instructor.

ECON 596. Independent Study. 1-4 hours.

Independent study under faculty supervision. Course Information: Prerequisite(s): Consent of the instructor.

ECON 598. Master's Thesis Research. 0-16 hours.

Independent research leading to an M.A. thesis. Course Information: Satisfactory/Unsatisfactory grading only. May be repeated to a maximum of 8 hours. Students may register in more than one section per term. Prerequisite(s): Grade of C or better in ECON 505 or Grade of C or better in ECON 534; and Grade of C or better in ECON 501 or Grade of C or better in ECON 509 and consent of the chair of the thesis committee.

ECON 599. Ph.D. Thesis Research. 0-16 hours.

Research on a Ph.D. thesis. Course Information: Satisfactory/Unsatisfactory grading only. May be repeated. Students may register in more than one section per term. Prerequisite(s): Consent of the chair of the thesis committee.