Economics (ECON)

ECON 1000. Economics at Northeastern. 1 Hour.

Intended for freshmen in the College of Social Sciences and Humanities. Introduces freshmen to the liberal arts in general; familiarizes them with their major; helps them develop the academic skills necessary to succeed (analytical ability and critical thinking); provides grounding in the culture and values of the University community; and helps them develop interpersonal skills—in short, familiarizes students with all skills needed to become a successful university student. Prereq. Freshman standing; economics majors only.

ECON 1101. Economic Problems and Perspectives. 4 Hours.

Studies the economic concepts and methods that are useful to an informed citizen for an understanding of modern social issues such as unemployment, inflation, poverty, crime, the environment, medical care, and international competitiveness. Not recommended for students who have completed either ECON 1115 or ECON 1116.

ECON 1115. Principles of Macroeconomics. 4 Hours.

Introduces macroeconomic analysis. Topics include the flow of national income, economics growth and fluctuation, the role of money and banking, and monetary and fiscal policies. Emphasizes the development of conceptual tools to analyze the economic problems facing modern society.

ECON 1116. Principles of Microeconomics. 4 Hours.

Focuses on development of basic theory of demand, supply, and market price. Explores applications to selected microeconomic problems, such as basic monopoly and competition, and other issues that relate to the role of the pricing system in resource allocation and income distribution.

ECON 1120. Learning Economics through Games. 4 Hours.

Introduces students with little or no background in economics to methods of economic analysis and some of the topics that economists study. Many games have economic themes, and even the ones that do not often have aspects that can be analyzed using the methods of economics. Covers concepts such as marginal analysis, game theory, and sources of growth through the play and analysis of board and computer games. Explores topics in economic history in this context as well. Note: This course does not count toward economics major or minor elective requirements. Coreq. ECON 1121.

ECON 1121. Lab for ECON 1120. 4 Hours.

Accompanies ECON 1120. Covers course topics through experimentation with games. Note: This course does not count toward economics major or minor elective requirements. Coreq. ECON 1120.

ECON 1125. Recitation for ECON 1115. 0 Hours.

Provides small-group discussion format to cover material in ECON 1115.

ECON 1126. Recitation for ECON 1116. 0 Hours.

Offers small-group discussion format to cover material in ECON 1116.

ECON 1230. Healthcare and Medical Economics. 4 Hours.

Enables students to recognize the relevance of economics to health and medical care and apply economic reasoning to understand health-related issues better; to understand the mechanism of healthcare delivery in the United States within broad social, political, and economic contexts; to explore the changing nature of health and medical care and its implications for medical practice, medical education and research, and health policy; and to analyze public policy in health and medical care from an economic perspective.

ECON 1240. Economics of Crime. 4 Hours.

Covers economic analysis of crime and the criminal justice system. Topics include theoretical and empirical analysis of the economic causes of criminal behavior, the social costs of crime and its prevention, and the design of enforcement policies.

ECON 1250. Game Theory in the Social Sciences. 4 Hours.

Introduces modern game theory. Games describe individuals’ actions and offer tools for understanding and predicting how rational players will make choices, given their preferences, information, and available actions. The course considers games in which players know the payoffs and preferences but may have imperfect information about actions. Covers tools for predicting behavior, including iterative dominance, rationalizability, Nash equilibrium, backward induction, and subgame perfection. Introduces games of asymmetric information in which players do not know each others’ payoffs and preferences. The tools are applied to a range of fields in economics (industrial organization, labor, public finance, insurance, auctions, bargaining, and macroeconomics); business (incentive design, organizational design, pricing, product-line decisions, marketing); political science; sociology; and law.

ECON 1260. Contested Issues in the U.S. Economy. 4 Hours.

Covers many of the contested economic issues that the United States faces as a nation—the size of government, the national debt, the war on drugs, national healthcare, taxation, and many more. An important social system in any society is the economic system—the allocation of scarce resources. In the large and complex economy of the United States, there is controversy over what goods and services are produced and how they are distributed. To understand the nature and causes of these issues requires a course where theory is a tool of analysis, not the focus. Economics is not value free. Attention is given to the role of ethics and how our moral values shape policy. Course topics vary from semester to semester.

ECON 1270. Economic Status of Ethnic Minorities. 4 Hours.

Examines the economic conditions and processes as they impact minorities within the U.S. economy. Considers the role of national economic policies undertaken to address general economic and social conditions, as well as policies targeted at minority markets and institutions. Emphasis is on empirical analysis; historical and cultural materials may be incorporated.

ECON 1281. Economics of the Creative Industries. 4 Hours.

Presents an overview of the economic aspects of creative industries. Examines the production and consumption of creative goods and services. Topics include consumer demand, economic models of nonprofit and for-profit production of creative goods, competition and market structure, artists and other creative workers as members of the labor force, productivity issues in the performing arts, government support for the creative sector, and the role and impact of public and private subsidies.

ECON 1290. History of the Global Economy. 4 Hours.

Covers ideological biases in economics; the extent of global disparities around 1800; evolution of global disparities since 1800; evolution of international integration and international trading and monetary regimes, 1800–2000; theories explaining global disparities: classical, neoclassical, Marxian, neo-Marxian, and structuralist; import-substituting industrialization: Latin America, Asia, and Africa; international debt crises: nineteenth and twentieth centuries; the new global regime; structural adjustment: GATT (General Agreement on Tariffs and Trade) and WTO (World Trade Organization); and socialist interlude: a socialist experience and transition to capitalism.

ECON 1291. Development Economics. 4 Hours.

Covers ideological biases in economics; origins of the Industrial Revolution; the evolution of global disparities, and how markets, imperialism, and racism affected this process; theories of growth: neoclassical, institutional; growth and structural change; growth and demographic change; growth, income distribution, and welfare; development policies: import-substitution vs. outward-orientation; growth based on primary exports and the socialist experience and transition to capitalism.

ECON 1292. Economic History of the Middle East. 4 Hours.

Provides an historical account of the economies of the Middle East from the sixth century C.E. to the present. Conceives of the area between the Nile and Oxus as forming the core of the Middle East; besides the core, the region includes Turkey and North Africa. Identifies the major economic and demographic trends in the region, or segments of the region, to examine the ecological bases of the economies and the connection between political history and the economic trends and to understand the ways in which economies of the region articulated with other major economic regions including Europe, West Africa, and the economies of the Indian Ocean. Studies the systems of government and laws, agriculture, commerce, and manufacturing.

ECON 1293. European Economic History. 4 Hours.

Covers European economic history from ancient times to the twentieth century. A brief survey of early Greek and Roman economic life provides the context for more in-depth analysis of medieval, mercantilist, and modern economic institutions. Emphasis is on the role of technology, trade, and natural resources in the development of modern European economies.

ECON 1915. Introductory Selected Topics in Macroeconomics. 4 Hours.

Covers selected topic matter in the field of macroeconomics. The specific topic is chosen by the instructor.

ECON 1916. Introductory Selected Topics in Microeconomics. 4 Hours.

Covers selected topic matter in the field of microeconomics. The specific topic is chosen by the instructor.

ECON 1990. Elective. 1-4 Hours.

Offers elective credit for courses taken at other academic institutions.

ECON 2315. Macroeconomic Theory. 4 Hours.

Presents several theoretical approaches to the study of short-run economic instability and long-run growth. Uses conceptual and mathematical tools to examine what economists believe to be the major determinants of fluctuations in employment and price level, as well as the rate of economic growth. The theoretical models are used to evaluate the operation and impact of various macroeconomic policy tools. Prereq. (a) ECON 1115 and (b) MATH 1231, MATH 1241, MATH 1242, MATH 1251, MATH 1340, MATH 1341, or MATH 1342.

ECON 2316. Microeconomic Theory. 4 Hours.

Examines supply-and-demand analysis, various elasticity concepts and applications, theories of demand and production, and derivation of cost curves. Analyzes pricing and output behavior in the several market structures with their welfare and the pricing of resources. Prereq. (a) ECON 1116 and (b) MATH 1231, MATH 1241, MATH 1242, MATH 1251, MATH 1340, MATH 1341, or MATH 1342.

ECON 2325. Recitation for ECON 2315. 0 Hours.

Offers small-group discussion format to cover material in ECON 2315.

ECON 2326. Recitation for ECON 2316. 0 Hours.

Offers small-group discussion format to cover material in ECON 2316.

ECON 2350. Statistics. 4 Hours.

Discusses basic probability, descriptive statistics, estimation techniques, statistical hypotheses, sampling, analysis of variance, correlation, and regression analysis in the context of economics. Computer applications are an integral part of the course.

ECON 2990. Elective. 1-4 Hours.

Offers elective credit for courses taken at other academic institutions. Prereq. ECON 1115 and ECON 1116.

ECON 3404. International Food Economics and Policy. 4 Hours.

Covers basic concepts in economic and political dimensions of food production, consumption, and trade, with particular emphasis on the global food system. Topics include market and consumption analysis, the agriculture and food industries, types of food policy and other political instruments related to food, and how these affect consumer food choices, environment, diet, nutrition, and health. Discusses and analyzes factors driving the rapid evolution of the way food is produced, processed, distributed, and consumed, and its implications, in the context of the global food environment. Reviews current empirical evidence on the world food situation and discusses issues such as hunger, food security, obesity, and food safety. Prereq. ECON 1116.

ECON 3405. A Critique of Capitalism. 4 Hours.

Examines the origins, workings, successes, and failures of capitalism, defined as an economic system where capital is privately owned (for the most part) and markets solve the economic problem (again, for the most part). Examines, in addition, several variants of private-ownership economies (with varying levels of market activities), such as slavery, feudalism, land-tenancy, putting-out system, self-employment, etc. Also examines some alternatives to capitalism, such as command socialism, market socialism, worker-ownership of capital, cooperatives, Islamic economy, and Christian economy. Prereq. ECON 1116 or permission of instructor.

ECON 3406. Critical Perspectives on Economics. 4 Hours.

Examines the assumptions, concepts, theories, tools, and tests employed by neoclassical economics; identifies the biases and limits of these methods; and explores alternative economic approaches that might overcome these failings. Also develops an ethical critique of markets, the profit motive, corporations, efficiency, innovation, and economic growth. Offers students an opportunity to develop critical perspectives on neoclassical economics and other approaches to economics. Prereq. ECON 1116 and junior or senior standing.

ECON 3410. Labor Economics. 4 Hours.

Emphasizes an economic analysis of the labor market, the labor force, and wages and earnings. Explores the differences that have existed and currently exist in the labor market with regard to race, ethnicity, and gender and the theories behind why they have existed and continue to exist. Covers supply, development, and efficient use of human resources; demand for labor by businesses and industries; wage inequality and its determinants; changing occupational and industrial structure; nature, causes, and incidence of unemployment; economic impact of unions; and influence of related labor-market institutions and relevant public policies including minimum wages, wage subsidies, and earned-income tax credits; health and safety regulations (OSHA); and antidiscrimination and affirmative action policies and programs. Prereq. ECON 1115 or ECON 1116.

ECON 3414. Economics of Human Capital. 4 Hours.

Explores theoretical and empirical treatment of economic issues related to investments in human capital including formal education (preschool through postsecondary), vocational education, on-the-job training, work experience and government-sponsored employment and training programs, and their impacts on individuals and society. Emphasizes studies of public policies to promote human capital investments including cost-effectiveness analysis and benefit-cost analysis for determining the effectiveness of investments in literacy, education, and training from a private and social standpoint. Prereq. ECON 1116.

ECON 3415. Poverty and Income. 4 Hours.

Focuses on economic analysis of inequalities in incomes, earnings, and wealth; poverty; and discrimination. Examines the causes of economic inequality and the nature, causes, and effects of poverty; explores an array of public policies to reduce poverty and inequalities in income, earnings, and wealth. Prereq. ECON 1115 or ECON 1116.

ECON 3420. Urban Economic Issues. 4 Hours.

Studies urban growth and development, focusing on economic analysis of selected urban problems such as housing, poverty, transportation, education, health, crime, and the urban environment. Discusses public policies related to such problems. Prereq. ECON 1116.

ECON 3422. Economics of Transportation. 4 Hours.

Covers transportation and land-use patterns; externalities; special costs and social benefits of various modes of transportation, ownership, regulations, and financing of various modes of transportation; and economics of new technology in transportation. Prereq. ECON 1116.

ECON 3423. Environmental Economics. 4 Hours.

Applies the tools of economics to environmental issues. Explores taxonomy of environmental effects; externalities; the commons problem; taxation, regulations, marketable permits, and property rights as a solution; measuring benefits of cleaner air and water, noise abatement, and recreational areas; global issues including tropical deforestation and acid rain; and the relevance of economics to the environmental debate. Prereq. ECON 1116.

ECON 3424. Law and Economics. 4 Hours.

Focuses on how an understanding of the law is furthered by an awareness of the economic background against which it operates. Draws from economic principles, developing concepts such as efficiency, property rights, regulation, and income distribution. Applications of these ideas may include health and safety, the environment, the legal services and insurance industries, and zoning and land use, among others. Prereq. ECON 1116.

ECON 3425. Energy Economics. 4 Hours.

Introduces theoretical and empirical perspectives on energy demand and energy supply. Energy is vital to modern economies. Emphasizes the role markets play in determining how to use energy and its sources and the scope for public policy to address market imperfections. Discusses oil, natural gas, coal, nuclear power, and renewable energy (such as hydro-, wind, and solar power). Covers the public policy issues around greenhouse gas emissions and energy security. Prereq. ECON 1116.

ECON 3440. Public Finance. 4 Hours.

Presents an overview of the economics of government and the role of public policy. Develops guidelines to determine which economic activities are best performed by government and which are not. Also examines the impact of tax policies on efficiency, economic growth, and equity. Topics include market failures, public choice, the personal income tax, the corporate tax, sales tax, and taxation of capital and wealth, and options for reform of the tax structure. Major spending programs such as social security and education and healthcare are analyzed. Prereq. ECON 1116.

ECON 3442. Money and Banking. 4 Hours.

Covers the nature and functions of money, credit, and financial markets in the modern international economy. Analyzes financial markets and institutions, central banking, and the effects of interest and foreign exchange rates on the real economy. Prereq. ECON 1115.

ECON 3460. Managerial Economics. 4 Hours.

Explores the application of economic principles to the solution of managerial decision-making problems in areas such as demand estimation, cost estimation and control, pricing and marketing strategies, employee incentives, financing of capital investments, and responses to government regulation and taxation. Case studies and simulation models are typically used as pedagogical tools. Prereq. ECON 1116.

ECON 3461. Government and Business. 4 Hours.

Examines the government’s role in regulating economic activity. Discusses factors behind the trends of market deregulation and increasing social regulation. Develops criteria to determine when regulation and antitrust law is desirable. Topics include antitrust laws and their enforcement; regulation of public utilities, transportation, and communication industries; and regulation of environmental, health, product, and workplace safety. Prereq. ECON 1116.

ECON 3462. Bubbles, Busts, and Bailouts: Market and Regulatory Failures in the Financial Crisis. 4 Hours.

Investigates economic and financial bubbles together with the busts and bailouts that usually follow. Analyzes how and why bubbles form in markets such as housing and stocks, emphasizing the financial crisis of 2007–2008 but covers others as well. Also examines the lasting effects on markets and the economy from the collapse of such bubbles and the need for bailouts and other policies that are often used. Applies a range of perspectives to identify the market failures and regulatory failures that can cause bubbles—failures of assumptions about information, about incentives, and about oversight. Includes perspectives from microeconomics, behavioral economics, finance, and public policy. Prereq. ECON 1116.

ECON 3470. American Economic History. 4 Hours.

Covers the economic history of the United States from the colonial period to the present. Includes studies of the development of major economic institutions and the effects of technological change. Examines economic reasons for the spread of an industrial market economy in the nineteenth century and the successes and failures of this economy in the twentieth century. Prereq. (a) ECON 1115 and (b) ENGW 1111, ENGW 1102, ENGL 1111, or ENGL 1102.

ECON 3481. Economics of Sports. 4 Hours.

Investigates what economics has to say about sports as an economic activity: what tools of economic analysis apply to sports, whether sports require different economic tools, what the evidence has to say about key questions. Focuses on professional team sports, although some attention is paid to college sports and to individual professional sports. Prereq. ECON 1116.

ECON 3490. Public Choice Economics. 4 Hours.

Studies public choice economics—the scientific analysis of government behavior—and is divided into two parts: institutional political economy and social choice theory. Public choice economics applies this neoclassical economic analysis to political issues such as rent seeking, tax reform, logrolling, voting behavior, the function of government, the intersection between public and private interests, and federalism. The point of departure from political science is that economists have based this analysis on the assumption that utility functions do not change once a person enters the realm of public service and that the argument of their utility functions is still their own self-interest and not the interest of the social system in which they operate. Prereq. ECON 1115 and ECON 1116.

ECON 3520. History of Economic Thought. 4 Hours.

Traces the evolution of Western economic thought. Covers several important periods and schools of economic thought including mercantilism, physiocracy, classical, Marxist, neoclassical, and Keynesian. Emphasizes the relationship between historical changes in society and economic thought, focusing on changes in the types of questions economists ask and the analytical tools they use. Prereq. (a) ECON 1115 and (b) ECON 1116 and (c) ENGW 1111, ENGW 1102, ENGL 1111, or ENGL 1102 and (d) junior or senior standing.

ECON 3560. Applied Econometrics. 4 Hours.

Examines research methods used by practicing economists. Discusses typical problems from applied areas of economics including choice of modeling framework, problems of data collection, review of estimation techniques, interpretation of results, and development of static and dynamic adaptive policy models. A research paper utilizing computer applications is an integral part of the course. Prereq. (a) ECON 2315 and (b) ECON 2316 and (c) ECON 2350, MATH 2280, MATH 3081, POLS 2400, MGSC 1201, or MGSC 2301 and (d) ENGW 1111, ENGW 1102, ENGL 1111, or ENGL 1102 and (e) junior or senior standing.

ECON 3915. Intermediate Selected Topics in Macroeconomics. 4 Hours.

Covers selected topic matter in the field of macroeconomics. The specific topic is chosen by the instructor. Prereq. ECON 1115.

ECON 3916. Intermediate Selected Topics in Microeconomics. 4 Hours.

Covers selected topic matter in the field of microeconomics. The specific topic is chosen by the instructor. Prereq. ECON 1116.

ECON 3990. Elective. 1-4 Hours.

Offers elective credit for courses taken at other academic institutions. Prereq. ECON 2315 and ECON 2316.

ECON 4634. Comparative Economics. 4 Hours.

Describes the uniqueness of modern market economies in terms of social institutions that serve limited economic ends. Begins with a presentation of traditional economic analyses of the advantages and disadvantages of market economies. Examines these theories in light of evidence from economic anthropology regarding the evolution of market institutions and from the problems encountered in contemporary transitional economies as they move from command to market institutions. Prereq. ECON 1115 and ECON 1116.

ECON 4635. International Economics. 4 Hours.

Covers Ricardian and neoclassical theories of trade; trade policies; tariffs, quotas, voluntary export restraints, and customs union; global trade regime; GATT (General Agreement on Tariffs and Trade) and WTO (World Trade Organization); balance-of-payments accounts; foreign exchange markets; monetary and portfolio balance approaches to external balance; fixed or flexible exchange rates; and international monetary system. Prereq. ECON 1115 and ECON 1116.

ECON 4640. Financial Economics. 4 Hours.

Introduces students to the theory of investments, including the principles of risk and return, the theory of portfolio selection, asset pricing models such as the capital asset pricing model (CAPM) and arbitrage pricing theory (APT), valuation of stocks, bond pricing and the term structure of interest rates, and options (what they are and how to use them). Geared toward nonbusiness majors who are interested in a rigorous course in finance. Prereq. (a) ECON 2315 or ECON 2316 and (b) ECON 2350, MATH 3081, POLS 2400, MGSC 1201, or MGSC 2301.

ECON 4650. Economic Growth and Applications. 4 Hours.

Explores the theory as well as the empirics of economic growth. Emphasizes international comparisons of economic performance in terms of aggregate income and long-run growth. Presents the neoclassical model of economic growth as well as endogenous growth theory. Covers econometric application of the growth models. Topics include the role of ideas and technology, population dynamics, government policy, culture, the environment, income inequality, international trade, democracy, international aid, foreign investment, and the rule of law. One of the purposes of this class is to allow economics majors to apply and extend their knowledge of macroeconomic theory and applied econometrics. Prereq. ECON 2315 and ECON 3560.

ECON 4653. Mathematics for Economics. 4 Hours.

Introduces basic tools of mathematics, matrix algebra, differential and integral calculus, and classical optimization, with special reference to economic applications. Computer applications are an integral part of the course. Prereq. ECON 1115 and ECON 1116.

ECON 4680. Competition Policy and Regulation. 4 Hours.

Presents an analytic framework and empirical study of how the structure of industries and the conduct of sellers affect performance. Includes examples and case studies from both the “old economy” and the “new economy.” Examines antitrust as a public policy designed to promote better market performance. Prereq. ECON 2316.

ECON 4681. Information Economics and Game Theory. 4 Hours.

Offers an advanced course on the economics of information, including moral hazard and adverse selection; game theory; and mechanism design. Designed for students with some prior exposure to game theory. Formally considers alternative solution concepts, such as Nash equilibrium and rationalizability for simultaneous move and sequential move games under complete information about payoffs and preferences, as well as solution concepts such as Bayesian-Nash equilibrium to analyze selection, screening, and incentives in games of incomplete or asymmetric information. Covers optimal incentives or mechanism design, including the optimal design of contracts, auctions, and other mechanisms. Prereq. (a) ECON 2350, MATH 3081, MGSC 1201, MGSC 2301, or POLS 2400 and (b) ECON 2316; prior exposure to game theory recommended.

ECON 4692. Senior Economics Seminar. 4 Hours.

Incorporates aspects of real-world and academic experiences of students into an analytical context, enabling students to demonstrate their ability to apply economic concepts, methodology, and data to economic issues and problems of personal and philosophical significance. Prereq. (a) ECON 2315 and (b) ECON 2316 and (c) ECON 2350, MATH 2280, MATH 3081, POLS 2400, MGSC 1201, or MGSC 2301 and (d) senior standing; economics majors and combined majors only.

ECON 4915. Advanced Selected Topics in Macroeconomics. 4 Hours.

Covers selected topic matter in the field of macroeconomics. The specific topic is chosen by the instructor. Prereq. ECON 2315.

ECON 4916. Advanced Selected Topics in Microeconomics. 4 Hours.

Covers selected topic matter in the field of microeconomics. The specific topic is chosen by the instructor. Prereq. ECON 2316.

ECON 4965. Undergraduate Teaching Experience 1. 4 Hours.

Offers an opportunity for qualified undergraduate students to serve as undergraduate teaching assistants. Requires various assignments closely directed by the assigned course instructor. These may include holding office hours, light grading, maintaining the records for the course, proctoring—but not solely administering—exams and quizzes, holding recitation/tutorial sessions, and (very) limited lecturing or leading class discussions. Prereq. Junior or senior standing, minimum overall GPA of 3.333, and grade of A– or better in course assignment; permission to enroll is further subject to the availability of an appropriate course assignment and instructor.

ECON 4966. Undergraduate Teaching Experience 2. 1 Hour.

Offers an opportunity for qualified undergraduate students to serve as undergraduate teaching assistants. Requires various assignments closely directed by the assigned course instructor. These may include holding office hours, light grading, maintaining the records for the course, proctoring—but not solely administering—exams and quizzes, holding recitation/tutorial sessions, and (very) limited lecturing or leading class discussions. May incur a one-credit overload charge. Prereq. ECON 4925 or ECON 4965, junior or senior standing, minimum overall GPA of 3.333, and grade of A– or better in course assignment; permission to enroll is further subject to the availability of an appropriate course assignment and instructor.

ECON 4970. Junior/Senior Honors Project 1. 4 Hours.

Focuses on in-depth project in which a student conducts research or produces a product related to the student’s major field. Combined with Junior/Senior Project 2 or college-defined equivalent for 8 credit honors project. Prereq. ECON 2315, ECON 2316, and ECON 2350.

ECON 4971. Junior/Senior Honors Project 2. 4 Hours.

Focuses on second semester of in-depth project in which a student conducts research or produces a product related to the student’s major field. Prereq. ECON 4970.

ECON 4990. Elective. 1-4 Hours.

Offers elective credit for courses taken at other academic institutions.

ECON 4991. Research. 4 Hours.

Offers an opportunity to conduct research under faculty supervision.

ECON 4992. Directed Study. 1-4 Hours.

Offers independent work under the direction of members of the department on a chosen topic. Course content depends on instructor. May not be substituted for requirements leading to a BA or BS in economics. Prereq. Senior standing and approval of department chair; economics majors only.

ECON 4993. Independent Study. 1-4 Hours.

Offers independent work under the direction of members of the department on a chosen topic. Course content depends on instructor.

ECON 4994. Internship. 4 Hours.

Offers students an opportunity for internship work.

ECON 4996. Experiential Education Directed Study. 4 Hours.

Draws upon the student’s approved experiential activity and integrates it with study in the academic major. Restricted to those students who are using the course to fulfill their experiential education requirement.

ECON 5105. Math and Statistics for Economists. 4 Hours.

Offers an intensive study of the statistical methods and techniques and mathematical fundamentals necessary for quantitative economics. Statistical topics include descriptive statistics, probability theory, fundamentals of estimation and hypothesis testing, and regression and correlation analysis. Mathematical topics include linear algebra and differential and integral calculus. Computer applications are an integral part of the course. Prereq. Graduate standing.

ECON 5110. Microeconomic Theory. 4 Hours.

Presents a survey of microeconomic theory at the beginning graduate level. Topics include theories of the consumer, firm, and market (including input and output markets), welfare economics, and market failures. Includes applications of theory to public policy questions in such fields as industrial organization and public finance. Prereq. Knowledge of undergraduate microeconomic theory and graduate standing.

ECON 5120. Macroeconomic Theory. 4 Hours.

Examines theories of the short-run determination of output, employment, and prices, and long-run economic growth. Presents alternative macroeconomic models. Also consists of applied case study analysis of the theoretical models presented in class. Prereq. (a) ECON 5105 or equivalent and (b) knowledge of undergraduate microeconomic theory and (c) graduate standing.

ECON 5140. Applied Econometrics. 4 Hours.

Offers an intensive study of econometric techniques applied to cross-section, time-series, and panel data. Applies the fundamentals of econometrics to analyzing structural economic models, forecasting, and policy analysis. Computer applications and an empirical research project are an integral part of the course. Prereq. ECON 5105 and graduate standing.

ECON 5976. Directed Study. 1-4 Hours.

Offers independent work under the direction of members of the department on a chosen topic. Course content depends on instructor. May not be substituted for requirements leading to a BA or BS in economics. Prereq. Graduate standing.

ECON 5984. Research. 1-4 Hours.

Offers an opportunity to conduct research under faculty supervision. Prereq. Graduate standing.

ECON 6962. Elective. 1-4 Hours.

Offers elective credit for courses taken at other academic institutions.

ECON 6964. Co-op Work Experience. 0 Hours.

Provides eligible students with an opportunity for work experience.

ECON 6966. Practicum. 1-4 Hours.

Provides eligible students with an opportunity for practical experience.

ECON 7200. Topics in Applied Economics. 4 Hours.

Presents an application of microeconomic and macroeconomic theory, as well as quantitative methods, to a variety of social issues, both domestic and international.

ECON 7210. Applied Microeconomic Policy Analysis. 4 Hours.

Examines the alternative microeconomic activities of the public sector and the role of a diverse array of microeconomic tools and techniques in public sector policymaking, planning, program administration, and evaluation. Topics include the economics of market failure; the economics of information, corruption, public goods, and services provision; production externalities; economics of deregulation and privatization; and policy and program evaluation techniques including outcome and impact evaluation, social and economic experiments, objective functions, cost-effectiveness analysis, and benefit-cost analysis. Prereq. ECON 5110; ECON 5140 is recommended.

ECON 7220. Applied Macroeconomic Policy Analysis. 4 Hours.

Examines the range of macroeconomic activities undertaken by national governments around the world, and identifies the role of a diverse array of macroeconomic policymaking and planning tools and techniques for use in formulating and evaluating macroeconomic policies. Topics include the macroeconomic functions of government, alternative macroeconomic policies and policy tools, the theory of economic policy, macroeconomic accounting and databases, econometric models of national economies, policy simulation models, forecasting and projection models, input-output models, general equilibrium models, and national economic growth models including the new growth models and empirical applications. Prereq. ECON 5120; ECON 5140 is recommended.

ECON 7230. History of Economic Thought. 4 Hours.

Discusses the development of economic thought since the sixteenth century and focuses on the analytical innovations in the discipline. Explores the persistence of certain topics like money, capital accumulation, macroeconomic stability, and price theory throughout the development of economics, and examines the historical policy issues that inspired different thinkers to address these topics in new ways.

ECON 7240. Workshop in Applied Econometrics. 4 Hours.

Offers an intensive, hands-on application of econometrics to research problems in economics, using current econometric software packages. Both cross-section and time-series techniques are used and applied to different areas of economics, such as global economics, labor economics, urban economics, public finance, policy evaluation, and so on. Students are expected to complete a written applied econometrics project and present the results to the class. Prereq. ECON 5140.

ECON 7250. International Economic Development. 4 Hours.

Examines the record of growth and development over the past five centuries, the history of global disparities in levels of development over the past two centuries, theories of growth and development, and development policies across lagging countries over the past fifty years. Each topic is examined from different theoretical perspectives including Marxist, neo-Marxist, neoclassical, and institutional. Prereq. Familiarity with microeconomics and trade theory is recommended.

ECON 7251. International Finance. 4 Hours.

Introduces students to international finance and equips them with tools and methods to study and analyze international economic issues and problems. Topics include the foreign exchange market, balance of payments, international investment and banking, monetary and fiscal policy in an open economy, economic integration and monetary unification, the international monetary system, and optimum currency areas. Each student is required to write a short paper on a current problem in international finance.

ECON 7252. International Trade. 4 Hours.

Examines theories of trade including Ricardian, Heckscher-Ohlin, and trade under increasing returns to scale; welfare implications of different trade policies including tariffs, quotas, voluntary export restraints, and customs union; the political economy of trade policies; and global trading arrangements including GATT and WTO. Prereq. Knowledge of microeconomic theory.

ECON 7253. International Integration. 4 Hours.

Examines the evolution of global markets for goods, services, capital, and labor over the past two centuries, the stylized facts regarding trends in integration, the factors affecting the trends in integration, the linkages between integration of different markets, and the impact of integration on the dynamics of global development and disparities. The analysis follows an eclectic approach to the questions addressed, drawing upon different intellectual traditions in economics. Prereq. Knowledge of intermediate microeconomic theory.

ECON 7260. Urban Economic Systems. 4 Hours.

Examines urban economic systems including systematic relationships among cities, as well as those within cities. The portion of the course devoted to intermetropolitan analysis covers central place theory, the location of economic activity, and intermetropolitan trade. Intrametropolitan analysis includes urban form and land use, land use controls, and local government systems. Prereq. ECON 5110 and ECON 5140.

ECON 7261. Urban Economic Development. 4 Hours.

Examines urban economic development processes. Topics include models and techniques for describing and evaluating urban economies; development strategies and tools; commercial, industrial, and housing development; and problems of poverty and housing.

ECON 7262. Regional Economic Theory. 4 Hours.

Analyzes the following topics: comparative costs and location analysis for industry, various indices of location measures, land use theories, interregional labor migration, interregional trade, regional development, regional equilibrium analysis, regional and interregional input-output analysis, and econometric models for regional analysis. Prereq. ECON 5110.

ECON 7263. Labor Economics. 4 Hours.

Offers a comprehensive microeconomic approach to neoclassical wage theory and the theory of labor markets focusing on labor supply, household production, marginal productivity, human capital, and search. Examines alternative labor market theories including the efficiency wage theory and the dual labor market theory. Emphasis is on understanding and estimating empirical models of labor markets. Prereq. ECON 5110 and ECON 5140.

ECON 7264. Economics of Human Capital. 4 Hours.

Studies human capital theory and its applications to a wide variety of economic and social behaviors including fertility, labor supply behavior, migration, employment and unemployment rates, wages, earnings, health, and economic growth and development. Topics include the evolution of human capital theory, concepts and measures, and the contributions of human capital to the economic growth of nations and regions. Applications cover the United States, other industrialized nations, and developing countries. Prereq. ECON 5110 and ECON 5140.

ECON 7265. Inequality and Poverty. 4 Hours.

Covers an array of topics on the economics of inequality and its application to the distribution of wages, earnings, incomes, and wealth and the economics of poverty. Topics include an analysis of the distribution of economic rewards in societies and alternative mechanisms for distributing incomes and goods/services; alternative concepts and measures of economic inequality; theories of distributive justice; empirical studies of wage, earnings, income, and wealth inequality; the measurement and analysis of poverty problems; and public policies to combat inequality and poverty. Presents empirical studies of inequality and poverty problems in the United States, other industrialized countries, and developing nations. Prereq. ECON 5110 and ECON 5140.

ECON 7266. Economics of Government. 4 Hours.

Presents an overview of the economics of government and the role of public policy. Develops guidelines to determine which economic activities are best performed by government and which are not. Topics include public choice, public goods, externalities, public enterprise, and efficiency and equity effects of alternative tax systems. Prereq. ECON 5110.

ECON 7270. Economics of Law and Regulation. 4 Hours.

Relies on models of welfare economics to analyze the impact of laws, regulation, and deregulation, in terms of both positive and normative aspects. Topics include economic analysis of market failures and government remedies; property, tort, and contract law; and economic and social regulation. Students are encouraged to develop critical skills in analyzing various types of economic policy. Prereq. Knowledge of microeconomics.

ECON 7271. Industrial Organization. 4 Hours.

Analyzes the market structure of industries and strategic behavior by businesses, and the effect that these have on economic performance. Draws on economic theory, empirical evidence, and case studies. Also includes a brief discussion of governmental policies such as antitrust, regulation, and public ownership/privatization. Prereq. ECON 5110.

ECON 7710. Microeconomic Theory 2. 4 Hours.

Continues ECON 5110, building on its theories. Topics include game theory, economics of information, incentive theory, welfare economics, general equilibrium, and social choice theory. Prereq. ECON 5110 or equivalent with a grade of B–.

ECON 7720. Macroeconomic Theory 2. 4 Hours.

Continues ECON 5120. Offers an advanced course in macroeconomic analysis where economic theory and econometric evidence are brought together to explain economic events and changes at the macro level including economic growth, changes in unemployment and inflation rates, and business cycles. Topics include the Solow growth model, overlapping-generations models, research and development models of growth, real-business-cycle theory, Keynesian theories of economic fluctuations, microfoundations, consumption, investment, unemployment, inflation and monetary theory, and budget deficits and fiscal policy. Prereq. ECON 5120 and ECON 5140, both with a grade of B–.

ECON 7740. Applied Econometrics 2. 4 Hours.

Continues ECON 5140. Extends students’ understanding of econometrics beyond the topics covered in the earlier course. Students develop and complete an econometric research project using methods covered. Topics include models with multiple equations, nonlinear regression models, asymptotic theory, maximum likelihood, discrete choice models, limited dependent variables and duration models, panel data, regression models for time-series data, and unit roots and cointegration. Prereq. ECON 5140 with a grade of B–.

ECON 7763. Labor Market Analysis. 4 Hours.

Offers a theoretical and methodological survey of the field of neoclassical labor market analysis at the PhD level. Topics include the supply of labor from the perspective of the individual and the family, human capital, the demand for labor, market equilibrium, and the determination and distribution of wages and earnings. Other topics that may be included are unions, unemployment, labor mobility, alternative models of labor markets, labor productivity and growth, and income distribution and poverty. Prereq. ECON 7710 and ECON 7740 (the latter may be taken concurrently).

ECON 7764. Topics in Labor Economics. 4 Hours.

Covers the theoretical and empirical issues surrounding current topics in the area of labor economics. Topics may vary each time the course is offered and may include discrimination, efficiency wage theory, labor legislation, life cycle analysis, and the use of microdata (panel studies, search behavior, intergenerational earnings mobility, and employment and training policies). Prereq. ECON 7763.

ECON 7771. Framework of Industrial Organization. 4 Hours.

Sets out the analytical framework of industrial organization economics-the basis and method for evaluating the performance of markets and firms and for prescribing policies for improvement. Topics include size and structure of firms, market concentration, pricing in oligopoly and other markets, entry and entry deterrence strategies, and advertising and product strategies. Each of these topics is examined using a range of tools including microeconomic theory, game theory, and statistical analysis. Prereq. ECON 7710 and ECON 7740, both with a grade of B–.

ECON 7772. Public Policy Toward Business. 4 Hours.

Covers the three major facets of public policy toward business: antitrust, regulation, and privatization. Demonstrates how economic theory and evidence are brought to bear on practical questions of market failure and policies to remedy such failure. Topics include mergers, collusion and facilitating practices, predatory conduct, cost of service regulation, price caps and incentive regulation, deregulation, and public enterprise vs. privatization. Policies are analyzed for their rationale, techniques for implementation, and effects as measure in the context of actual experience in the United States and other countries. Prereq. ECON 7771.

ECON 7962. Elective. 1-4 Hours.

Offers elective credit for courses taken at other academic institutions.

ECON 7976. Directed Study. 1-4 Hours.

Offers independent work under the direction of members of the department on a chosen topic. Course content depends on instructor. May not be substituted for requirements leading to a BA or BS in economics.

ECON 7990. Thesis. 1-4 Hours.

Provides thesis supervision by members of the department.

ECON 7996. Thesis Continuation. 0 Hours.

Provides thesis supervision by members of the department.

ECON 8550. Internship In Economics. 1-4 Hours.

Comprises academic credit for internship work in economics.

ECON 8960. Exam Preparation—Doctoral. 0 Hours.

Provides students with the opportunity to prepare for the qualifying exam during the semester in which they are registered for this course. Registration in this course constitutes full-time status.

ECON 8966. Practicum. 1-4 Hours.

Provides eligible students with an opportunity for practical experience.

ECON 8982. Readings. 1-4 Hours.

Offers supervised reading in selected topics in economics.

ECON 8984. Research. 1-4 Hours.

Offers an opportunity to conduct research under faculty supervision.

ECON 9000. PhD Candidacy Achieved. 0 Hours.

Indicates successful completion of the doctoral comprehensive exam.

ECON 9986. Research. 0 Hours.

Offers an opportunity to conduct full-time research under faculty supervision.

ECON 9990. Dissertation. 0 Hours.

Taken for two consecutive semesters, normally at the beginning of the dissertation period, to meet the residency requirement of the doctoral program.

ECON 9996. Dissertation Continuation. 0 Hours.

Requires registration for those students who have completed the doctoral program’s residency requirement, but who have not yet completed the dissertation.