ECO 5114 Microeconomic Analysis 4 Credits
Grading Scheme: Letter Grade
Develops the foundational theoretical models employed in understanding market interactions. Examines consumer choice, profit maximization by suppliers, market equilibrium in settings that vary with respect to their competitiveness, economic efficiency, and policy interventions in markets.
Catalog Program Pages Referencing ECO 5114
ECO 5207 Macroeconomic Analysis 4 Credits
Grading Scheme: Letter Grade
Develops foundational tools of modern macroeconomic analysis. Examines consumption-labor decisions and consumption-savings decisions by households, profit maximization by firms, and the impacts of fiscal and monetary policy on the aggregate economy. Identifies optimal fiscal and monetary policies. Presents prominent theories of long-run economic growth.
Catalog Program Pages Referencing ECO 5207
ECO 5216 Monetary Economics 4 Credits
Grading Scheme: Letter Grade
Develops foundational theoretical models employed by modern monetary economics. Examines individual and aggregate money demands and analyzes their effect on interest rate determination. Examines liquidity effect of monetary injections on interest rates and currency exchange rates.
Catalog Program Pages Referencing ECO 5216
ECO 5426 Econometric Analysis 1 4 Credits
Grading Scheme: Letter Grade
Introduces concepts and methods employed in empirical economic analysis. Examines ordinary least squares, instrumental variables, maximum likelihood estimation, and model specification. Covers topics needed to plan and implement empirical projects, and understand potential problems with the empirical analyses of others.
Catalog Program Pages Referencing ECO 5426
ECO 5427 Econometric Analysis 2 4 Credits
Grading Scheme: Letter Grade
Introduces to advanced concepts and methods employed in empirical economic analysis. Examines logit, probit, tobit, and categorical dependent variable models. Examines estimation of economic panel data. Covers topics needed to plan and implement empirical projects in the presence of limited dependent variables.
Prerequisite: ECO 5426
Catalog Program Pages Referencing ECO 5427
ECO 5435 Economic Data Analysis 4 Credits
Grading Scheme: Letter Grade
Introduces coding for data manipulations and statistical analysis in Stata. Investigates construction and calculation of economic indicators. Identifies imperfections inherent to common indicators. Examines microdata and aggregate-level economic data using panel data and fixed-effects regression models.
Catalog Program Pages Referencing ECO 5435
ECO 5464 Game Theory and Industrial Organization 4 Credits
Grading Scheme: Letter Grade
Introduces strategic behavior—what to do when your preferred action depends on others' choices of their own preferred actions—to the analysis of imperfectly competitive markets. Develops and examines Nash Equilibrium and numerous equilibrium refinements. Applies these solution refinements to important issues of imperfect competition.
Catalog Program Pages Referencing ECO 5464
ECO 5715 Open Economy Macroeconomics 2 Credits
Grading Scheme: Letter Grade
International linkages arising from capital flows and exchange rates as well as comparison on macroeconomic policies and performance across countries. Effect of macroeconomic events on international business environment.
Prerequisite: ECP 5702. Designed primarily for M.B.A. students.
Catalog Program Pages Referencing ECO 5715
ECO 5745 Global Trade and Policy 3 Credits
Grading Scheme: Letter Grade
Provides overview of theory, policy, and institutions that govern international flow of goods and services. Analyzes evolution of global trade, causes and effects of globalization, foreign outsourcing, effects of globalization on income distribution, international factor movements, strategic trade policy, multilateral and regional trade agreements, and global environmental issues.
Catalog Program Pages Referencing ECO 5745
ECO 6409 Game Theory Applied to Business Decisions 2 Credits
Grading Scheme: Letter Grade
Business settings analyzed wherein a few decision makers profoundly affect one another's well being. Oligopoly competition and coordination, nonprice choices, entry deterrence, reputation formation, contract design, and management of work teams.
Prerequisite: ECP 5702 or equivalent. Designed primarily for MBA students.
Catalog Program Pages Referencing ECO 6409
ECO 6716 International Macroeconomics 3 Credits
Grading Scheme: Letter Grade
Macroeconomic policies and their effects on the international business environment.
Prerequisite: ECP 5705. Designed primarily for M.B.A. students. Not designed for doctoral students in economics.
Catalog Program Pages Referencing ECO 6716
ECO 6906 Individual Work in Economics 1-4 Credits, Max 8 Credits
Grading Scheme: Letter Grade
Individual Work in Economics
Catalog Program Pages Referencing ECO 6906
ECO 6910 Supervised Research 1-5 Credits, Max 5 Credits
Grading Scheme: S/U
Supervised Research
Catalog Program Pages Referencing ECO 6910
ECO 6936 Special Topics 1-4 Credits, Max 16 Credits
Grading Scheme: Letter Grade
Special Topics
Catalog Program Pages Referencing ECO 6936
ECO 6957 International Studies in Economics 1-4 Credits, Max 12 Credits
Grading Scheme: S/U
International Studies in Economics
Prerequisite: admission to approved study abroad program and permission of department.
Catalog Program Pages Referencing ECO 6957
ECO 6971 Research for Master's Thesis 1-15 Credits
Grading Scheme: S/U
Research for Master's Thesis
Catalog Program Pages Referencing ECO 6971
ECO 6977 Financial Economics Capstone 3 Credits
Grading Scheme: Letter Grade
Introduces fundamentals of financial project management. Examines project financing for private and public projects. Covers numerous application-based topics including funds sourcing, legal frameworks and regulation, and credit risk. Includes capstone project in financial economics.
Prerequisite: Admission into the Master of Arts in Economics program.
Catalog Program Pages Referencing ECO 6977
ECO 7113 Information Economics 1-2 Credits, Max 2 Credits
Grading Scheme: Letter Grade
Analysis of information problems, remedies through contracting or adoption of different procedures and organization when complete contracting is infeasible.
Prerequisite: ECO 7115 and ECO 7408. ;
Corequisite: ECO 7404.
Catalog Program Pages Referencing ECO 7113
ECO 7115 Microeconomic Theory 3 Credits
Grading Scheme: Letter Grade
Analysis of optimization applied to consumer and product theory including comparative statistics and duality.
Corequisite: ECO 7408 or equivalent.
Catalog Program Pages Referencing ECO 7115
ECO 7116 Microeconomic Theory 2 3 Credits
Grading Scheme: Letter Grade
Introduces game theory, public goods and externalities, and adverse selection and moral hazard. Applies pure-strategy and mixed-strategy Nash Equilibria solution concepts to solve simultaneous-play games. Develops Bayesian Nash Equilibria solution concepts for dynamic games. Solves monopolists’ profit-maximization problem. Examines other inefficiencies stemming from public goods, externalities, and information asymmetries.
Prerequisite: ECO 7115. ECO 7115 is taught once per year.
Catalog Program Pages Referencing ECO 7116
ECO 7120 General Equilibrium and Welfare Economics 1-2 Credits, Max 2 Credits
Grading Scheme: Letter Grade
Introduction to general equilibrium analysis, including existence of equilibrium, core convergence, and fundamental theorems of welfare economics.
Prerequisite: ECO 7115. ;
Corequisite: ECO 7406.
Catalog Program Pages Referencing ECO 7120
ECO 7206 Macroeconomic Theory I 3 Credits
Grading Scheme: Letter Grade
Coreq: ECO 7115, ECO 7408. Classical, Keynesian, and new classical aggregate income and employment analysis. Demand for money. Inflation and unemployment. Monetary policy and stabilization. Time series and rational expectations models.
Catalog Program Pages Referencing ECO 7206
ECO 7297 Applied Macroeconomics I 3 Credits
Grading Scheme: Letter Grade
Prepares doctoral students to be researchers in Modern Macroeconomics. Constructs and solves Dynamic Stochastic General Equilibrium (DSGE) models. Uses real-world economic data to estimate and calibrate DSGE models using Bayesian methods. Identifies and measures the size of macroeconomic shocks on output, employment, prices, and other relevant macroeconomic variables.
Prerequisite: ECO 7206. (ECO 7206 is completed by all PhD students in Year 1 of the program. This course will be taken in the fall semester of the second year of the PhD program.)
Catalog Program Pages Referencing ECO 7297
ECO 7298 Applied Macroeconomics II 3 Credits
Grading Scheme: Letter Grade
Expands the set of analytical tools that students may use to answer important questions in macroeconomics. Focuses on models that capture interactions between heterogeneous agents, such as households or firms, and their implications for economic performance. Examines the role of market imperfections and financial frictions.
Prerequisite: ECO 7297.
Catalog Program Pages Referencing ECO 7298
ECO 7404 Game Theory for Economists 1-2 Credits, Max 2 Credits
Grading Scheme: Letter Grade
Introduction to modern game theory as used in economics. Emphasis on use of techniques in simple applications.
Prerequisite: ECO 7115 and ECO 7408.
Catalog Program Pages Referencing ECO 7404
ECO 7408 Mathematical Methods and Applications to Economics 1-2 Credits, Max 2 Credits
Grading Scheme: Letter Grade
Mathematical techniques used in graduate work in economics and finance. Linear algebra and differential equations, with emphasis on results used in economic theory and econometrics.
Catalog Program Pages Referencing ECO 7408
ECO 7415 Statistical Methods in Economics 3 Credits
Grading Scheme: Letter Grade
Coreq: ECO 7408. Introduction to fundamental statistical concepts: estimation, hypothesis testing, linear regression, and analysis of variance.
Catalog Program Pages Referencing ECO 7415
ECO 7424 Econometric Models and Methods 3 Credits
Grading Scheme: Letter Grade
Introduction to classical econometric theory, linear models, and estimation methods.
Prerequisite: ECO 7415.
Catalog Program Pages Referencing ECO 7424
ECO 7426 Econometric Methods I 3 Credits
Grading Scheme: Letter Grade
Stochastic models. The general linear model and problems associated with its use in econometric research. Theory of the simultaneous equation approach, model construction, and estimation techniques.
Prerequisite: ECO 7424 or departmental approval.
Catalog Program Pages Referencing ECO 7426
ECO 7427 Econometric Methods II 3 Credits
Grading Scheme: Letter Grade
Advanced econometric theory with applications to topics such as nonlinear estimation, limited dependent variable models, time-series analysis, and specification testing.
Prerequisite: ECO 7424 or AEB 7571.
Catalog Program Pages Referencing ECO 7427
ECO 7452 Best Empirical Practices in Economics 1-2 Credits
Grading Scheme: Letter Grade
Analysis of empirical papers to develop skills for evaluating and conducting empirical testing of economic theory.
Catalog Program Pages Referencing ECO 7452
ECO 7525 Welfare Economics and The Second Best 1-2 Credits
Grading Scheme: Letter Grade
Introduction and overview of public sector economics. Basic welfare economics, optimal commodity and income taxation, and public goods and welfare.
Prerequisite: ECO 7115
Catalog Program Pages Referencing ECO 7525
ECO 7534 Empirical Public Economics I 1-2 Credits, Max 2 Credits
Grading Scheme: Letter Grade
Taxation, expenditures, marketplace of local governments, federalism and sources of inefficiency in government, voter turnout.
Prerequisite: ECO 7424 and 7525.
Catalog Program Pages Referencing ECO 7534
ECO 7535 Empirical Public Economics II 1-2 Credits
Grading Scheme: Letter Grade
Education, welfare policy, health policy, and environmental policy.
Catalog Program Pages Referencing ECO 7535
ECO 7536 Theoretical Public Economics 1-2 Credits
Grading Scheme: Letter Grade
The course is concerned primarily with public goods and their provision.
Prerequisite: ECO 7115.
Catalog Program Pages Referencing ECO 7536
ECO 7706 Theory of International Trade 3 Credits
Grading Scheme: Letter Grade
Historical and economic background of foreign trade; theory of international trade; fundamentals of international exchange; international commercial policies and international trade; exchange fluctuations and their control; international monetary institutions.
Catalog Program Pages Referencing ECO 7706
ECO 7707 International Economic Relations 3 Credits
Grading Scheme: Letter Grade
International trade and income distribution, international technology diffusion, foreign direct investment and multinational enterprise, formation and reform of trade and investment policy.
Catalog Program Pages Referencing ECO 7707
ECO 7925 Research Skills Workshop 3 Credits
Grading Scheme: S/U
Transition from learning about work of others to doing research. Selecting area of research, surveying literature, narrowing to specific topic, formulating model, collecting data if appropriate, working through theoretical or empirical analysis, and writing first draft.
Prerequisite: passed written qualifying exams.
Catalog Program Pages Referencing ECO 7925
ECO 7938 Advanced Economics Seminar 1-4 Credits, Max 20 Credits
Grading Scheme: Letter Grade
For advanced graduate students in economics. Student must have completed graduate core program and have preliminary dissertation topic.
Catalog Program Pages Referencing ECO 7938
ECO 7979 Advanced Research 1-12 Credits
Grading Scheme: S/U
Research for doctoral students before admission to candidacy. Designed for students with a master's degree in the field of study or for students who have been accepted for a doctoral program. Not appropriate for students who have been admitted to candidacy.
Catalog Program Pages Referencing ECO 7979
ECO 7980 Research for Doctoral Dissertation 1-15 Credits
Grading Scheme: S/U
Research for Doctoral Dissertation
Catalog Program Pages Referencing ECO 7980
ECP 5702 Managerial Economics 2 Credits
Grading Scheme: Letter Grade
Microeconomic forces that influence decisions made by firms. Cost concepts, pricing strategies, capital investment, human resource management, innovation, and the influence of the competitive environment of firms.
Prerequisite: Designed primarily for M.B.A. students.
Catalog Program Pages Referencing ECP 5702
ECP 5705 Economics of Business Decisions 3 Credits
Grading Scheme: Letter Grade
Synthesis and application of microeconomic theory and related business administration principles to managerial decision making through a problem-solving orientation.
Prerequisite: Designed primarily for M.B.A. students.
Catalog Program Pages Referencing ECP 5705
ECP 6035 Cost-Benefit Analysis 4 Credits
Grading Scheme: Letter Grade
Introduces leading economic methodologies for conducting cost-benefit analyses. Differentiates and describes importance of opportunity costs and accounting costs. Discusses and applies individual and social discount rates. Presents several practical applications of cost-benefit analysis.
Prerequisite: ECO 5114 (Microeconomic Analysis).
Catalog Program Pages Referencing ECP 6035
ECP 6455 Antitrust Economics 4 Credits
Grading Scheme: Letter Grade
Introduces United States’ law governing American competition policy and enforcement. Identifies and describes several potentially anticompetitive practices. Applies microeconomic theory to analyze potentially anticompetitive conduct and calculates welfare effects. Examines abuse of monopoly and monopsony power, cartels and collusion, vertical integration and restraints, and horizontal and vertical mergers.
Prerequisite: ECO 5114 (Microeconomic Analysis) and ECO 5464 (Game Theory and Industrial Organization).
Catalog Program Pages Referencing ECP 6455
ECP 6708 Cases in Competitive Strategy 2 Credits
Grading Scheme: Letter Grade
Current and recent cases to illustrate practical principles using strategic analysis. Class discussions of cases comprise first part; student presentations comprise second part. Practical business lessons from applying strategic methodology.
Prerequisite: ECO 6409. Designed for MBA students.
Catalog Program Pages Referencing ECP 6708
ECP 7408 Empirical Industrial Organization 3 Credits, Max 3 Credits
Grading Scheme: Letter Grade
Reviews numerical methods for optimization in MatLab. Presents current methods for demand estimation. Describes conventional approaches to characterizing demand for homogenous and differential products. Describes methods for appropriately treating static and dynamic settings. Examines methodological strengths and weaknesses of various demand estimation techniques.
Prerequisite: ECO 7424 required; ECO 7426 recommended or consent of instructor.
Catalog Program Pages Referencing ECP 7408
ECP 7409 Empirical Industrial Organization II 3 Credits
Grading Scheme: Letter Grade
Reviews various econometric approaches to estimating firms’ production functions. Identifies and describes strengths and weaknesses of those approaches. Examines incentives for market entry, exit, and deterrence. Characterizes relationships between price, welfare, and market structure. Examines methods for treating price discrimination.
Prerequisite: ECP 7408.
Catalog Program Pages Referencing ECP 7409
HSA 6436 Health Economics 3 Credits
Grading Scheme: Letter Grade
Fundamental economic relations governing production, consumption, reimbursement, and financing of health services. Characteristics of markets for acute and long-term care services, insurance, and health care labor. Economic evaluation of technology.
Prerequisite: consent of instructor.