Economics Courses
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.
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. Requires knowledge of undergraduate microeconomic theory.
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.
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.
Prerequisite(s): ECON 5105 with a minimum grade of C- or ECON 6105 with a minimum grade of C-
ECON 5200. 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. May be repeated without limit where topics are unique.
ECON 5291. Applied Development. (4 Hours)
Focuses on major macroeconomics policy questions for developing countries in an open economy context. Approaches these policy issues from a political economy perspective on macroeconomics. Combines theoretical foundations with institutional analysis and empirical evidence. Begins by developing a macroeconomic framework to analyze short-term macroeconomic adjustment and concludes with long-term growth, emphasizing the effects of financial integration and capital account regulations on macroeconomic performance in developing countries. Empirical data and country experiences help assess the validity of theoretical propositions and explain the complexity of development trajectories. Requires previous coursework in macroeconomic theory.
ECON 5292. Gender and Development Economics. (4 Hours)
Examines topics at the intersection of women’s empowerment and economic development from an economic perspective. Introduces potential explanations for the gender inequalities in the context of developing countries as well as the role of public policy in addressing such disparities. Studies microeconomics topics such as education gaps, fertility, family planning, HIV/AIDS, marriage dynamics and intrahousehold allocation of resources, female labor outcomes and migration, as well as conflict and domestic violence. Offers students an opportunity to apply basic economic theory associated with each topic as well as the research methodologies used in recent empirical papers. Students with an econometrics background have a better understanding of the empirical papers. Requires previous course work in microeconomic theory and in statistics.
ECON 5293. Agriculture and Development Policy. (4 Hours)
Reviews main theories and empirical facts on the role of agriculture in economic development. Topics include population dynamics, agricultural productivity and growth, poverty alleviation, and future issues in agricultural development. Focuses on the analysis and application of policy solutions. Designed to help develop practical professional skills for application in the global development policy arena.
Prerequisite(s): ((ECON 2315 with a minimum grade of B or ECON 2316 with a minimum grade of B ); ECON 2560 with a minimum grade of D- ) or graduate program admission
ECON 5650. Economic Growth and Applications. (4 Hours)
Provides an in-depth analysis of models of economic growth and their empirical applications, analyzing the process and mechanics of economic growth, technological change, and sources of income and growth differences across countries, including, inter alia, the role of technology, population dynamics. institutions, geography, and culture. Discusses alternative growth strategies in the context of income inequality and natural resource constraints. Requires previous coursework in macroeconomic theory.
Prerequisite(s): (ECON 2315 with a minimum grade of D- ; (ECON 2560 with a minimum grade of D- or ECON 3560 with a minimum grade of D- )) or graduate program admission
ECON 6105. Advanced Mathematics and Statistics for Economists. (4 Hours)
Covers the fundamental quantitative methods in economics. The first part of the course focuses on the role of mathematical models in economics, the applications of linear algebra, multivariate calculus, and static optimization theory. Studies statistics in the second part of the course, and offers students an opportunity to learn how to apply proper methods of empirical testing in economics. Additionally, introduces the statistical language R to equip students to complete most of the assignments in statistics. This is an advanced graduate course.
ECON 6110. Advanced Microeconomic Theory. (4 Hours)
Discusses consumer choice, classical demand theory, production, choice under uncertainty, competitive markets, and market power, which provide the theoretical foundation of more advanced topics that can be used as the basis to design empirical applications. Requires a strong background in linear algebra, multivariate calculus, and optimization theory for success in the course. A good undergraduate intermediate-level microeconomic theory course is also helpful. This is the first advanced graduate-level course on microeconomic theory for graduate students.
ECON 6120. Advanced Macroeconomic Theory. (4 Hours)
Develops basic models used by macroeconomists to study long-run economic growth with exogenous savings and endogenous saving decisions by optimizing households. Studies models incorporating endogenous technology improvements, including the model of increasing product variety and the model of Schumpeterian growth. In the second part of the course, basic models used by macroeconomist are developed to explain short-term fluctuations in aggregate economic variables. Develops a simple real business cycle model, which is subsequently enriched by relaxing assumptions of perfect competition on the production side and monetary neutrality. This is the first advanced graduate-level course introducing modern theories of the aggregate economy.
ECON 6140. Advanced Applied Econometrics. (4 Hours)
Offers students an opportunity to obtain the theoretical tools, computer skills, and experience using econometrics needed to appreciate and do high-quality applied research in economics. Emphasizes understanding how the properties of estimators can be found and their implications for applied research. Introduces the programming language Python, which is integrated into the course. Focuses on methods that are most useful in microeconomic analysis, including classical linear regressions, Gauss-Markov theorem and hypothesis testing, endogeneity, instrumental variable estimation and causality analysis, heteroskedasticity and serial correlations, nonlinearity, panel data methods, difference-in-difference, and regression discontinuity. This is the first advanced graduate-level course on econometrics.
Prerequisite(s): ECON 5105 with a minimum grade of C- or ECON 5105 with a minimum grade of C- or ECON 6105 with a minimum grade of C-
ECON 6954. Co-op Work Experience - Half-Time. (0 Hours)
Provides eligible students with an opportunity for work experience. May be repeated without limit.
ECON 6955. Co-op Work Experience Abroad - Half-Time. (0 Hours)
Provides eligible students with an opportunity for work experience. May be repeated without limit.
ECON 6962. Elective. (1-4 Hours)
Offers elective credit for courses taken at other academic institutions. May be repeated without limit.
ECON 6964. Co-op Work Experience. (0 Hours)
Provides eligible students with an opportunity for work experience. May be repeated without limit.
ECON 6965. Co-op Work Experience Abroad. (0 Hours)
Provides eligible students with an opportunity for work experience abroad. May be repeated without limit.
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. May be repeated without limit.
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.
Prerequisite(s): ECON 5140 with a minimum grade of C- or ECON 5140 with a minimum grade of C-
ECON 7250. International Economic Development. (4 Hours)
Covers leading research topics in development economics, with a particular focus on patterns of global inequality and globalization, effects of trade policy on labor market adjustment, gender and development, education and health, long-term effects of institutions, commodity price dynamics, and Dutch disease. Course objectives include exploring the cutting-edge literature emerging on these topics and improving understanding of the most recent empirical methods used in the literature. Offers students an opportunity to learn how to apply econometric techniques to particular research questions while evaluating advantages and disadvantages of using different approaches and to demonstrate understanding of difference-in-differences analysis, instrumental variables, randomized evaluation, regression discontinuity, and structural vector autoregressive models. Students critically assess the limitations of these methods.
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 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.
Prerequisite(s): ECON 5110 with a minimum grade of C- or ECON 5110 with a minimum grade of C-
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. Requires knowledge of microeconomics.
ECON 7710. Microeconomic Theory 2. (4 Hours)
Continues ECON 6110, building on its theories. Topics include game theory, economics of information, incentive theory, welfare economics, general equilibrium, and social choice theory.
Prerequisite(s): ECON 6110 with a minimum grade of B- or ECON 6110 with a minimum grade of B-
ECON 7720. Macroeconomic Theory 2. (4 Hours)
Continues ECON 6120. 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.
Prerequisite(s): ECON 6120 with a minimum grade of B- or ECON 6120 with a minimum grade of B-
ECON 7740. Applied Econometrics 2. (4 Hours)
Continues ECON 6140. 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.
Prerequisite(s): ECON 6140 with a minimum grade of B- or ECON 6140 with a minimum grade of B-
ECON 7751. Development Economics. (4 Hours)
Focuses on contemporary research questions and econometric methods in development economics. Includes a rigorous introduction to core microeconomic issues in economic development, focusing on both key theoretical contributions and empirical applications, to understand why some countries are poor and how markets function differently in poor economies. Examines and utilizes detailed survey data of the world’s poor and scientifically evaluates policies and their effectiveness. Requires a solid understanding of how to read and interpret statistics. Topics include poverty and poverty traps, behavioral economics, savings, health, credit, networks, social norms, and the role of the public sector. Covers both seminal and leading contemporary economic research.
Prerequisite(s): ECON 6110 with a minimum grade of B or PPUA 6502 with a minimum 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.
Prerequisite(s): ECON 7710 with a minimum grade of C- ; ECON 7740 (may be taken concurrently) with a minimum grade of C-
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).
Prerequisite(s): ECON 7763 with a minimum grade of C-
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.
Prerequisite(s): ECON 7710 with a minimum grade of B- ; ECON 7740 with a minimum 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.
Prerequisite(s): ECON 7771 with a minimum grade of C-
ECON 7962. Elective. (1-4 Hours)
Offers elective credit for courses taken at other academic institutions. May be repeated without limit.
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. May be repeated without limit.
ECON 7990. Thesis. (1-4 Hours)
Provides thesis supervision by members of the department. May be repeated without limit.
ECON 8550. Internship In Economics. (1-4 Hours)
Comprises academic credit for internship work in economics. May be repeated without limit.
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. May be repeated three times.
ECON 8986. Research. (0 Hours)
Offers an opportunity to conduct full-time research under faculty supervision. May be repeated without limit.
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. May be repeated without limit.
ECON 9990. Dissertation Term 1. (0 Hours)
First of two consecutive semesters to meet the residency requirement of the doctoral program.
Prerequisite(s): ECON 9000 with a minimum grade of S
ECON 9991. Dissertation Term 2. (0 Hours)
Offers dissertation supervision by members of the department.
Prerequisite(s): ECON 9990 with a minimum grade of S
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.
Prerequisite(s): ECON 9991 with a minimum grade of S or Dissertation Check with a score of REQ