All courses, arranged by program, are listed in the catalog. If you cannot locate a specific course, try the Advanced Search. Current class schedules, with posted days and times, can be found on the NOW/Student Dashboard or by logging in to SiS.
Social Issues in Economics will take economic theory and apply it to public policy decisions. Topics that will be covered in the course are; Economics of crime, Should we legalize drugs, is it more economical to imprison someone for life or seek the death penalty and did the Supreme Court decision in Roe v Wade (the legalization of abortion) contribute to the declining crime rate that began in the 90,s: The economics of unintended consequences will explore how well meaning public policy sometimes backfires and has the reverse effect; health economics will look at the rising cost of healthcare and the effect of Obamacare; Taxes and poverty, is there a natural rate of poverty (does minimum wage increases actually contribute to a higher rate) and does taxing the rich less actually help the economy; Energy & Environmental economics, what is the effect of global warming, or is it global cooling, and what is the best energy mix for the 21st century and lastly, who has it right, New Keynesians or Neo-Classicals.
Studies the principles of production and exchange. An introduction to demand, supply, pricing, and output under alternative market structures. Derived demand and resource markets are introduced. Meets Core Curriculum Essential Learning Outcome for Quantitative Literacy (QL).
Studies the principles governing the level of national income and employment. Also examines the commercial banking system, monetary and fiscal policy, the international economy, and alternative economic systems.
Presents descriptive statistics, sophisticated counting techniques and other components of probability, simple random variables and their distribution, bivariate functions, sampling theory properties of estimators.
Pre-req: MATH.1210 Management Pre-Calculus, or MATH.1220 Management Calculus, or MATH.1310 Calculus I, or MATH.1320 Calculus II.
Discusses interval estimation, hypothesis testing, analysis of variance, applied regression theory, correlation analysis, and other selected topics.
Pre-Req: ECON 2110 Statistics I or 92.183 Intro to Statistics or MATH 2830 Introduction to Statistics.
An introduction to the economic analysis of behaviors and institutions in the labor market: labor supply and participation, labor demand by firms, wage determination under different institutional settings, and gender, race or ethnicity as determinants of different labor market outcomes. The course presents microeconomic models, empirical findings and their public policy implications on topics such as minimum wage, affirmative action, social insurance programs, workplace safety, and subsidized day care.
Pre-Req: ECON.2010 Economics I (Microeconomics).
Provides an advanced examination of price and production theory and the theory of the consumer and the firm.
Pre-req: ECON.2010 Economics I, and MATH.1220 Management Calculus, or MATH.1310 Calculus I, or MATH.1320 Calculus II, or MATH.2310 Calculus III.
An analysis of Keynesian and post-Keynesian theory. National income accounts, monetary and fiscal policy, and econometric models.
Pre-req: ECON.2020 Economics II, and MATH.1210 Management Pre-Calculus, or MATH.1220 Management Calculus, or MATH.1310 Calculus I, or MATH.1320 Calculus II, or MATH.2310 Calculus III.
Development Economics provides an introduction to the importance of political and market institutions in shaping the economic performance in the context of understanding economic role of institutions; theories of income distribution and distributional conflict; effect of social conflict and class conflict on development; political economic determinants of policies; causes and consequences of corruption; and importance of financial markets. The course utilizes both theoretical and empirical approaches in its analysis of economic development.
Since the late nineteen century, economics as a discipline has chosen mathematics as the main language of choice to describe the problems, hypothesis, theoretical explanation and tests it wants to study. This course aims to strengthen students' "translation skills" so that they can become more comfortable in applying mathematical concepts to their study of economics problems. Two distinct features set this course apart from a typical upper-level economics course of a pure mathematics course. First, this course will not only sharpen students' technical skills but will mainly emphasizes on the connections between those skills and economic intuitions. Second, students will learn those mathematical tools in a more organized and intensive way, with ample economic applications.
Pre-req: ECON.2010 Economics I, and ECON.2020 Economics II, and MATH.1220 Management Calculus, or MATH 1310 Calculus I, or Math.1280 Calculus 1A.
Applies the economic theory and statistical methods to business decision making. Estimation of demand, production, cost functions and accompanying elasticity estimates, pricing and output decisions, value maximization problems, and capital budgeting.
In this course we will look at different types of investments, from stocks, bonds and real estate top mutual funds, hedge funds and derivatives exploring how and when to use them. Students will create a diversified investment portfolio using an online trading program that incorporates products covered in class. In addition we will look at how different exchanges operate and the role of financial investments in real capital accumulation and rising living standards.
A study of the principles of portfolio theory and the pricing of financial instruments in capital markets. Use of derivative markets to implement arbitrages, hedging and risk management strategies. Extensive background institutional detail on stock, bond, mortgage-backed, currency, futures and options markets.
The economics of financial intermediation and central bank monetary policy. Evaluation of global financial markets, financial deregulation, bank failures and financial stability, determinants of the level and term structure of interest rates, and the impacts of monetary policy changes on overall levels of output, employment and prices are topics analyzed in this course. Meets Core Curriculum Essential Learning Outcome for Information Literacy (IL) and Written & Oral Communication (WOC).
Pre-Req: ECON 2010 Economics I (Microeconomics) and ECON 2020 Economics II (Macroeconomics).
The economics of the public sector. Principles of public expenditure, taxation, and the public debt applied to federal, state, and local governments.
The evolution of institutions and their functions, and sources of economic development. The contributions of railroads, agricultural population growth, immigration, capital formation and technological progress to economic development. Other areas addressed: rapid industrialization and antitrust laws; evolution of financial institutions, the creation of the Federal Reserve System, crash of 1929, the depression of the 1930s, the New Deal and various banking acts, the labor movement, the growth of international trade.
Pre-Req: ECON 2010 Economics I (Microeconomics) or ECON 2020 Economics II (Macroeconomics).
An introduction to the economic analysis of health care market The course presents microeconomic models, empirical findings and public policies referring to the following topics: the production and demand for health (the investment/consumption aspects of health and the relationship between socio economic status and health status), the issues of moral hazard and adverse selection in the insurance market, the role of information in the physician-patient relationship, the different regulation and payment systems for providers, the Medicare and Medicaid programs, and the comparisons between the US system and the health systems of other western economies and developing countries. This class aims to help students becoming more informed future citizens and consumers or producers of healthcare.
Prerequisites: 49.201 or instructor's approval. Meets Core Curriculum Essential Learning Outcome for Critical Thinking & Problem Solving (CTPS) and Social Responsibility & Ethics (SRE).
Special Topics in Economics is a course for advanced undergraduates in Economics. The content will vary from semester to semester depending on the research interests of the Faculty member teaching the course.
The field of Industrial Organization studies the behaviors of firms in imperfectly competitive markets. Its importance is best illustrated by understanding limitations of perfect competition. By definition, a perfectly competitive firm takes the market determined price as given and therefore has absolutely not control on price. Consequently, there is no room for any pricing strategy, not room for advertisement, and the firm has little incentive to conduct R&D or merge with other firms. All these business practices that we see every day must be discussed and analyzed in a setting of imperfect competition - the main focus of Industrial Organization.
The classical and modern theories. International payments, exchange and trade controls, and international trade policy determinants. Prerequisites: 49.201, 49.202.
This course is part of the two sub-disciplines that compose the overall discipline of International Economics, with the other sub-discipline being International Trade. As such, International Macroeconomics is complementary to International Trade, but neither course is a prerequisite for the other. This course provides an overview of open economy macroeconomics, and international financial markets and policies. The focus is on exchange rate determination, the importance of the balance of payments for both the domestic economy and the economies of other countries, international capital flows, the impact of internal debt on the balance of trade, and the interaction and potential conflicts between domestic and international economic police objectives.
Pre-req: ECON.2020 Economics II (Macroeconomics).
This course covers regression analysis including ordinary least squares, bivariate and multiple regression. In addition to basic regression technique and inference issues, specific topics related to OLS, such as interaction terms and quadratic forms together with more advanced techniques such as panel data and instrumental variables will be covered. This course will be held in a teaching lab using the STATA software package widely used by economists and other social scientists. You will learn how to us STATA for the following: importing data from an external source into STATA; inspecting and becoming familiar with the dataset; producing the main descriptive statistics for the dataset (e.g., mean, median, standard deviation and scatter diagrams); analyzing the data to test hypotheses of interest.
Pre-Req: ECON.2120 Statistics II.
This course integrates ideas from the history of economics with national development experiences to construct a theory of development. Fundamental to economic development is the innovation process through which business enterprises, situated in particular nations, generate productivity. The first part of the course focuses on the advanced nations, particularly Britain, United States, and Japan. Then we look at the emerged economies of South Korea, Taiwan, Singapore and Hong Kong, followed by the emerging economies of China and India. We explore why Russia is lacking in innovative enterprise. We conclude by asking how the integration of the theory and history of economic development can inform strategies to promote economic development characterized by stable and equitable growth.
In this course, we try to solve the puzzles of why some countries are so rich and some are so poor and why some countries grow so quickly and some grow so slowly. After introducing the basic analytical framework, we will investigate various possible reasons in explaining the oserved country differences. Those possible explanations include differences in countries' investment rates, population growth rates, human capital accumulation rates, production technologies, openness to international trade, and government policies. Issues of income inequality and their effect on economic growth will also be addressed.
This course is designed for Economics majors or minors who have fulfilled the following prerequisites, and master level students from other departments, such as the Regional Economic and Social Development Department.
Pre-req: 49.201 Economics I (Microeconomics)
49.202 Economics II (Macroeconomics)
This is a renumbering of an existing course, 49.315. The renumbering to the 400 level is to allow Masters students in programs with environmental content to take this course for credit with their advisor's approval. This course introduces students to the economic and policy aspects of environmental quality and natural resource issues. Simple and complex models are used to blend economic theory with environmental facts. Students will learn to derive policy insights from theoretical constructs. The primary objective is to show how the basic principles in economics can play a valuable role in analyzing and evaluating critical environmental issues and help in determining policy guidelines. Standard benefit cost or efficiency criteria will be applied to a wide variety of environmental issues.
This course will introduce students to the experimental economics methodology. Experimental economics utilizes lab and natural experiments to investigate decision-making and motivations for observed behavior. After and overview of the method, the course will explore several specific topics where experimental economics has made particular contributions to the discipline. Experimental results often motivate theories of behavior that incorporate concepts such as altruism, reciprocity, and inequality aversion. Such, non-traditional, models of behavior were once considered to be solely the realm of psychology. As a result, this course will also serve as an introduction to behavioral economics - the incorporation of motivations other than self-interest into one's utility function.
Pre-req: ECON.2010 Economics I (Microeconomics), and ECON.3030 Microeconomic Theory , or Permission of Instructor.
Economics majors who locate an internship experience in a public or private, profit or non-profit organization which provides an opportunity to observe and apply Economics concepts to decision making and processes in the production of goods or services may with permission of the Economics Department chair receive three credits for satisfactory completion of the experience. Students are expected to have completed over 20 credits of economics classes before undertaking the internship. A five-page paper describing what was learned in the internship together with a note from the student's supervisor indicating hours worked and satisfactory completion of assigned work is required.
Pre-Reqs: ECON 2020 Economics II (Macroeconomics) and ECON 2010 Economics I (Microeconomics).
A course to permit the advanced student to do research in topics of special interest in economics under faculty supervision. This course also may be utilized to offer topics to individual students where there are insufficient number of registrants for a regular class. Restricted to Economics majors.
Pre-Req: ECON 2120 Statistics II, ECON 3030 Microeconomic Theory, and ECON 3040 Macroeconomic Theory.