Economics

The goal is to provoke discussion, with differing viewpoints put forward, and lead students to analyze major economic problems as economists might do. The course will center upon resource-scarce issues: e.g. in a low-income country that provides little public education, what would you do first, and what would you do last? There will also be discussion about current global macroeconomic trends, including inflation, debt, and economic growth.

Studies demand and supply, consumer behavior, the theory of business enterprise, the operation of competitive and monopolistic markets, and the forces determining income distribution. A full introduction to economic principles warrants completion of both ECON 2010 and 2020. Students planning to take both semesters of economic principles are advised to take ECON 2010 first, though this is not required. The department recommends ECON 2010 to students intending to take only one semester of principles.

Studies the determinants of aggregate economic activity, the effects of monetary and fiscal policy upon national income, and economic policy toward unemployment and inflation. A full introduction to economic principles warrants completion of both ECON 2010 and 2020. Students planning to take both semesters of economic principles are advised to take ECON 2010 first, though this is not required. The department recommends ECON 2010 to students intending to take only one semester of principles.

This course is an introduction to the economic analysis of gender in labor markets. Students will learn about economic approaches to understanding and examining gender differences in workplace outcomes such as pay gaps and occupational segregation. No prior coursework in economics is required.

Studies the theory of prices and markets; includes an analysis of the forces determining the allocation of economic resources in a market economy. Credit is not given for both ECON 3010 and 3110. Prerequisite: ECON 2010 and one of the following: MATH 1210, MATH 1190, MATH 1310, or APMA 1090.

Studies macroeconomic theory and policy; includes an analysis of the forces determining employment, income, and the price level. Prerequisite: ECON 2020 and 3010 or 3110, or instructor permission.

Studies the role of money in the economic system, with emphasis on monetary policy and theory. Prerequisite: ECON 2020.

Analyzes the demand for, and supply of, education in the United States, governmental policies regarding education, and proposed reforms. Prerequisite: ECON 2010.

Covers the same topics as ECON 3010 using differential calculus through constrained maximization of functions of several variables. Credit is not given for both ECON 3010 and 3110. Prerequisite: ECON 2010 and two semesters of calculus.

New course in the subject of economics.

Guides students in the use and interpretation of economic data, focusing on the most common issues that arise in using economic data, and the methodology for solving these problems. Prerequisite: STAT 2120, STAT 3120, APMA 3110, or APMA 3120

Analyzes the theory of strategically interdependent decision making, with applications to auctions, bargaining, oligopoly, signaling, and strategic voting. Prerequisite: ECON 3010 or 3110, and STAT 2120 or equivalent

Applies microeconomic theory to the analysis of legal rules and institutions. Includes the effect of economic forces on the development of law, and the effect of laws on the allocation of resources. Prerequisite: ECON 3010 or instructor permission.

The principles of microeconomics are used to examine decision making under uncertainty: finance, learning, savings, contracts, and oligopoly. Prerequisite: ECON 3010 or ECON 3110.

Studies market structure, firm strategy, and market performance. Topics include strategic interactions among firms, as well as business practices such as mergers and acquisitions, price discrimination, advertising, product selection, innovation, vertical restraints, cartels, and exclusionary conduct. Prerequisite: ECON 3010 or 3110.

Studies the nature and determinants of international trade and factor movements; the effects of international trade on prices of goods and factors; the consequences of tariffs, quotas, customs unions, and other trade policies and agreements, national or international; and international trade and the balance of payments. ECON 3010 or 3110 AND ECON 3720 or ECON 4720 or STAT 3220

Studies fixed and floating exchange rate systems. Topics include determinants of a nation's balance of international payments; macroeconomic interdependence of nations under various exchange-rate regimes and its implications for domestic stabilization policies; and the international coordination of monetary and stabilization policies. Prerequisite: ECON 3020.

Studies politics using economic analysis. Topics include the theory of voting rules, regulation, taxation, and interest groups; the growth of government; and the design of constitutions. Prerequisite: ECON 3010.

Studies the justifications for government activities, the design of programs consistent with these justifications, the effects of major existing and proposed expenditure programs and taxes, and positive and normative analyses of political systems. Prerequisite: ECON 3010 or 3110.

Studies the theory and operation of financial markets and the role of financial assets and institutions in the economic decisions of individuals, firms, and governments. Prerequisite: ECON 3010 or 3110, 3030, and STAT 2120 or equivalent. .

Analyzes the theory of financing corporate operations and corporate decisions regarding the allocation of capital among alternative projects; includes the nature of financial instruments and the behavior of capital markets. Prerequisite: ECON 3010 or 3110, 3030, and STAT 2120 or equivalent.

Study the role and the importance of the financial system in the global economy. Construct general equilibrium models that encompass the financial markets as well as the rest of the economy. These models will be used to understand the recent subprime crisis, the European sovereign debt crisis, and many market phenomena such as extreme volatility and contagion. Prerequisites: ECON 3010 or 3110 (ECON 3020 is recommended).

Course deals with theories explaining the nature of advertising, and evaluates market performance in this industry, using Game Theory and Oligopoly Theory. Calculus will be used extensively. Prerequisite: ECON 3010 or ECON 3110.

Explores the origins of environmental problems, how to measure the value of environmental amenities, and the efficacy of specific forms of regulation, including mandated technologies, taxes, subsidies, and pollution permit trading. Topics include air and water pollution, climate change, the transition from fossil fuels to renewable energy sources, and sustainable development. Prerequisite: ECON 3010 or 3110.

Studies the application of statistical methods to the testing and estimation of economic relationships. Emphasizes applied econometric studies and the problems that arise when analyzing time series and cross section data by means of stochastic linear models. Prerequisite: ECON 3720 or STAT 3120 or STAT 3220 or APMA 3110 or APMA 3120; and MATH 3350 or MATH 3351 or APMA 3080.