Basmann, Robert L., Professor, PhD, 1955, Iowa State University: Econometrics. (1988)*
Bischoff, Charles W., Professor and Director of Graduate Studies, PhD, 1968, Massachusetts Institute of Technology: Macroeconomics, monetary and fiscal policy, econometrics. (1977)
Britto, Ronald, Professor, PhD, 1966, Brown University: Macroeconomic theory, business cycles, risk and uncertainty. (1974)
Carlip, Alfred B., Professor Emeritus, PhD, 1959, Columbia University: Microeconomic theory, industrial organization and public control. (1960)
Chattopadhyay, Sudip, Visiting Assistant Professor, PhD, 1997, University of Illinois at Urbana-Champaign: Environmental economics, urban economics. (1998)
Christianson, Kenneth W. Jr., Adjunct Assistant Professor, PhD, 1987, Cornell University: Macroeconomics. (1998)
Clark, Clifford D., University Professor Emeritus and President Emeritus, PhD, 1953, University of Chicago: Public finance, economic growth. (1973)
Cohn, Stanley H., Professor Emeritus, PhD, 1952, University of Chicago: Soviet economics, economic systems, social accounting. (1966)
Cowing, Thomas G., Professor, PhD, 1970, University of California at Berkeley: Microeconomic theory, public regulation, econometrics. (1969)
Freedman, Ora, Adjunct Assistant Professor, PhD, 1991, State University of New York at Binghamton: Urban and environmental economics.
Greene, Kenneth V., Professor, PhD, 1968, University of Virginia: Public economics, urban public finance, law and economics, microeconomics. (1968)
Kang, In-bong, Assistant Professor, PhD, 1994, University of Rochester: Macroeconomics, econometrics, international economics. (1995)
Kern, Clifford R., Associate Professor and Director of Undergraduate Studies, PhD, 1974, Harvard University: Urban economics, housing economics, economics of transportation. (1971)
Khanna, Neha, Assistant Professor, PhD, 1998, Cornell University: Environmental economics. (1998)
Kokkelenberg, Edward C., Associate Professor and Chair , PhD, 1981, Northwestern University: Demand for factors of production, macro-labor economics, econometrics. (1980)
Leamer, Laurence E., Professor Emeritus, PhD, 1950, University of Chicago: Economic education. (1951)
Lee, Chulhee, Visiting Assistant Professor, PhD, 1966, University of Chicago: Economic history, labor economics. (1998)
Leighton, Richard I., Associate Professor , PhD, 1961, Duke University: International trade. (1964)
Leiman, Melvin, Associate Professor Emeritus, PhD, 1963, Columbia University: History of economic thought, radical political economy, Marxism. (1963)
Liu, Jung-Chao, Associate Professor, PhD, 1960, University of Michigan: Economy of China, mathematical economics. (1970)
Lovejoy, Robert M., Associate Professor, PhD, 1963, University of Michigan: Monetary theory, Italian economic policy, financial markets. (1965)
Masters, Stanley H., Professor, PhD, 1965, Princeton University: Labor economics, economics of poverty and discrimination. (1981)
Melville, Robert F., Professor Emeritus, PhD, 1961, Harvard University: Public finance. (1963)
Michal, Jan M., Professor Emeritus, LLD, 1946, Charles University, Prague: Comparative economic systems, international economics, economics of central planning, macroeconomics. (1964)
Nelson, Phillip J., Bartle Professor, PhD, 1957, Columbia University: Industrial organization, economics of population, microeconomics. (1969)
Ofek, Haim, Associate Professor, PhD, 1971, Columbia University: Advanced microeconomic theory, labor economics, industrial organization. (1981)
Polachek, Solomon W., Distinguished Professor and Dean of Harpur College of Arts and Sciences , PhD, 1973, Columbia University: Labor economics, human capital and income distribution, econometrics. (1983)
Yoon, Bong J., Associate Professor, PhD, 1978, University of Illinois: Econometrics, microeconomics, labor economics. (1983)
The department offers the BA and BS degrees in economics. The BA degree offers an excellent background for students planning to enter professional schools of business and law. The BS specifically provides the essential mathematical background for students planning to enroll in doctoral programs in economics. Both the BA and BS degrees may be tailored to provide enriched quantitative training for students seeking professional employment immediately after graduation. Moreover, the department offers concentrations in five areas of economics. The department also offers a minor.
The Economics Department views the grade of D as
passing but unsatisfactory. Therefore, a course in which a grade of D was
received is not acceptable as a prerequisite and cannot be used to fulfill
the requirements for a major or minor in economics. A course taken under
the pass/fail
option cannot be used to fulfill the requirements for a major or minor
in economics.
Courses numbered 110 and below are intended for non-majors and may not be used to fill major requirements. Courses numbered in the 400s are advanced courses open to students with the proper prerequisites.
Admission to the honors program and to ECON 498-499 is limited to majors with a 3.3 GPA in economics and a 3.0 GPA overall. Completion of or concurrent enrollment in ECON 466 and MATH 222 is recommended but not required. Requests for admission to the program should be directed to the instructor of ECON 498 in the second semester of the junior year.
The MA program may lead to a terminal degree preparing students for teaching at the junior college level; for employment in federal, state, or local government agencies; or for related professional careers. The MA program may also provide a base for further graduate work in economics.
The PhD program prepares individuals for careers in teaching, government, and research. The program offers the opportunity to specialize in various fields.
Graduate students are strongly encouraged to develop a working knowledge of the computer and its application to economic analysis. Graduate students receiving assistantships are usually assigned responsibilities which prepare them for teaching and research.
Econometrics applied and theoretical
Finance (SOM)
Labor economics
Industrial organization
International economics
Monetary economics
Public economics
Urban economics
All applicants are required to submit scores from the Graduate Record Examination.
Course Requirements
| credits | |
| Traditional Program | |
| ECON 500 (or 611). Microeconomic Theory* | 4 |
| ECON 501 (or 613). Macroeconomic Theory* | 4 |
| ECON 594. MA Workshop | 4 |
| Economics electives (500 or 600 level) | 20 |
|
TOTAL
|
32 |
| Applied Economics Program | |
| ECON 500 (or 611). Microeconomic Theory* | 4 |
| ECON 501 (or 613). Macroeconomic Theory* | 4 |
| ECON 502 (or 615 and 616) | |
| Econometric Methods* | 4 (8) |
| ECON 594. MA Workshop | 4 |
| Economics electives (500 or 600 level) | 16 (12) |
TOTAL |
32 |
| Economics and Finance Program | |
| ECON 500 (or 611). Microeconomic Theory* | 4 |
| ECON 501 (or 613). Macroeconomic Theory* | 4 |
| ECON 502 (or 615 and 616). | |
| Econometric Methods* | 4(8) |
| ECON 594. MA Workshop | 4 |
| Finance courses (SOM) | 8 |
| Economics electives (500 or 600 level) | 12(8) |
| MGMT 501. (or previous accounting course) | 4 |
|
TOTAL
|
40(36) |
*MA students may elect to substitute those indicated in parentheses for the one initially designated.
The elective courses are normally taken in economics, although, with the consent of the department's director of graduate studies, one course may be taken in another department.
Courses presented for the degree must be completed with a cumulative grade-point average of at least 3.0 (B average). Students studying toward the doctoral degree may request that the MA degree be awarded once they have fulfilled all the MA degree requirements, and may substitute a paper from a four-credit 600-level course for the ECON 594 requirement. Alternatively, a B average in ECON 611, 612, 613, and 614, or passage of both PhD theory comprehensive exams, may be substituted for ECON 594.
Course Requirements
| credits | |
| Economics | |
| ECON 500, 611, and 612 | |
| Microeconomic Theory | 12 |
| ECON 613 and 614. | |
| Macroeconomic Theory I and II | 8 |
| ECON 615 and 616. Statistics and
Econometrics |
8 |
| Economics electives (500 or 600 level) | 24 |
| ECON 693 and 694. | |
| PhD Seminar in Economics | 4 |
| ECON 699. Dissertation | |
| TOTAL | 56 |
| Economics with Specialization | |
| in Finance | |
| ECON 500, 611, and 612. | |
| Microeconomic Theory | 12 |
| ECON 613 and 614. | |
| Macroeconomic Theory I and II | 8 |
| ECON 615 and 616. Statistics and | |
| Econometrics | 8 |
| Finance courses (SOM)** | 16 |
| Economics electives (500 or 600 level) | 12 |
| ECON 693 and 694 | |
| PhD Seminar in Economics | 4 |
| ECON 699. Dissertation | |
| TOTAL | 60 |
The elective courses, except where noted above, are normally taken in economics. Ordinarily the University-wide residence requirement is to be met by registration in 24 credits, excluding ECON 597, 697, and 699.
Courses presented for the degree must be completed with a cumulative grade-point average of at least 3.0 (B average). Except for ECON 503, courses used to fulfill the department's MA requirements may also be used to fulfill the department's PhD elective requirements. Only two of ECON 500, 501, and 502 may be counted toward the PhD elective course requirements.
**See graduate director for list of required finance courses. Students without previous exposure to financial accounting must first take MGMT 501.
After completing all comprehensive examinations and course requirements, the student must develop a written prospectus of the dissertation topic and obtain the approval of the prospectus by the thesis committee. The prospectus should include a brief statement of the problem and the student's proposed approach to answering the problem. In the case of empirical studies, the student should also include a discussion of the data.
When the initial prospectus has been developed to the extent that it is ready for examination by the entire department, the student must present and defend the prospectus to a graduate seminar of faculty and students. The presentation should be made with the advice of the student's dissertation committee. This seminar provides feedback on the dissertation topic. It must be presented at least six months prior to the final oral examination in defense of the dissertation.
The two-course sequence ECON 693 and ECON 694 is normally taken during the third year of graduate work. All resident PhD candidates who have completed their comprehensive examinations are required to register for either ECON 693, 694, 698, or 699.
Admission to Candidacy
The student who satisfies the following requirements is recommended for candidacy for the doctor of philosophy in economics.
*Permission to take any examination may be denied students whose cumulative grade-point average for all courses taken for credit in the Economics Department is below 3.0 (B).
Final Examination
After the student's admission to candidacy, the degree of doctor of philosophy in economics is recommended by the department for the student who has completed an approved program of study; submitted a dissertation acceptable to the advisory committee; and passed a final oral examination in defense of the dissertation.
ECON 103. INTRODUCTION TO THE INTERNATIONAL ECONOMY
International monetary and trade theory, policies, and institutions.
Monetary topics include exchange rate determination, trade balances, the
international debt crisis, and the global economic system. Trade topics
include commodity flows, impacts of free trade on economic well-being,
trade policies and their consequences. Intended for non-majors. May be
used to satisfy economics minor but not major requirements.
ECON 144. POVERTY AND DISCRIMINATION
Conservative, liberal, and radical perspectives for analyzing problems
of poverty and racial discrimination. Analysis of public policies such
as income maintenance programs, minimum wage legislation, affirmative action,
education and housing policies. No credit toward major in economics for
students with senior standing.
ECON 160. PRINCIPLES OF MICROECONOMICS:
COMPETITION, MONOPOLY, AND ECONOMIC WELFARE
Examination of contemporary economic systems based on tools of microeconomics.
Theoretical analysis of prices and profits as guides to resource allocation,
industrial structure, meaning of economic welfare, proper function of government
in the economy, distribution of income. Students may take ECON 160 and
162 in either order they choose.
ECON 162. PRINCIPLES OF MACROECONOMICS:
INFLATION AND UNEMPLOYMENT
Determinants of the Gross National Product, income, and employment.
Sources of demand for goods and services; problems of unemployment and
inflation; use of taxes, government spending, and control over supply of
money to fight unemployment and inflation. Economic growth: its causes,
and arguments for and against growth. Students may take ECON 160 and 162
in either order they choose.
ECON 181. SELECTED TOPICS IN ECONOMICS
as needed, variable credit
Introduction to study and analysis of selected economic issue. Specific
topic announced in advance. May be repeated for credit with consent of
department.
ECON 183. SELECTED TOPICS IN APPLIED
MICRO-ECONOMICS
offered as needed, variable credit
Introduction to study and analysis of selected microeconomic issue.
Specific topic announced in advance. May be repeated for credit with consent
of department.
ECON 185. SELECTED TOPICS IN APPLIED
MACROECONOMICS
offered as needed, variable credit
Introduction to study and analysis of selected macroeconomic issue.
Specific topics announced in advance. May be repeated for credit with consent
of department.
ECON 295. INTERNSHIP IN SECURITIES MARKETS
1 credit
Application of economic analysis to practical experience in a securities
brokerage firm, under joint supervision of firm's representative and a
member of the economics faculty. P/F only. May not be repeated for credit.
Prerequisite: ECON 250 or 442.
ECON 313. INTERNATIONAL POLITICAL ECONOMY
National and international economic policy: the U.S. has made significant
contributions to international trade and financial practices during the
past half century. Its policies in the future will change as nationals
organize in blocs, as environmental issues take precedent, as population
increases, and as disparities in income levels become more evident. The
course evaluates economic concepts which have supported national directions
in the past and explores promising ideas to help in the future.
ECON 314. ECONOMICS OF DEVELOPING COUNTRIES
Major problems of development: institutional factors, resources, population.
Various theories of development process. Policy implementation; regional
programs, international cooperation, aid. Problems, theories, policies,
in terms of recent data of selected developing countries. Prerequisite:
ECON 160.
ECON 315. COMPARATIVE ECONOMIC SYSTEMS
Analysis of differences in economic organization and performance across
countries. Issues involving formerly communist countries: evolution of
economies, failure of communism, difficulties in reorganizing economies
and introducing market reforms. Differences among capitalist countries,
emphasizing comparisons between Japan and U.S. Prerequisite: ECON 160.
Recommended prerequisite: ECON 162.
ECON 317. THE ECONOMY OF CHINA
Institutional and policy framework of Chinese economy: five-year plans,
capital formation, industrial development, pricing, technical progress.
Development strategies, achievements, and limitations assessed analytically
and quantitatively. Alternatives for future development. Chinese system
compared with other socialist economies. Prerequisite: ECON 160.
ECON 331. ECONOMICS OF POPULATION AND
ENVIRONMENT
Preliminary examination of relationships between economic system and
environmental system. Pollution as economic phenomenon, theory of externalities,
scarcity, and growth. Appropriate public policies to deal with these problems.
No credit toward requirements for major or minor in economics is given
for ECON 331 if student has already passed or is currently enrolled in
ECON 433. Prerequisite: ECON 160.
ECON 343. INTRODUCTION TO LABOR ECONOMICS AND INDUSTRIAL RELATIONS
Introduction to labor markets, theoretical and institutional analysis.
Labor force trends, unions and collective bargaining, the relation between
education and earnings, alternative theories of the labor market. Analysis
of current policy issues such as unemployment, inflation, productivity
growth, and discrimination. No credit toward requirements for major or
minor in economics is given for ECON 243 if student has already passed
or is currently enrolled in ECON 443. Prerequisite: ECON 160.
ECON 349. ECONOMICS OF LAW AND PROPERTY RIGHTS
Consideration of economic analysis of law; economic reasoning behind
law of property, contracts, crimes, and torts. Economics of property rights.
Contractarian analyses of development of constitutions. Public regulations:
their economic bases and their effects. Law and distribution of income
and wealth. Economic analyses of court system and bail procedures, crime
and its punishment. Prerequisite: ECON 160.
ECON 350. U.S. FINANCIAL SYSTEM-MARKETS AND INSTITUTIONS
Nature, function, and economic significance of money market and other
securities markets. Role of financial intermediaries, commercial banks,
and government in financial markets. Flow of funds among financial sectors
and determinants of market interest rates. Impact of Federal Reserve on
financial markets and real side of economy. Prerequisite: ECON 162.
ECON 360. MICROECONOMIC THEORY
Contemporary microeconomic analysis; demand, supply, price theory,
allocation of economic resources. Tools of micro theory applied to solving
theoretical and social problems. Prerequisites: ECON 160.
ECON 362. MACROECONOMIC THEORY
Theories of levels of income, employment, growth, savings, investment,
money, and prices, applied to solving theoretical and social problems.
Prerequisite: ECON 162.
ECON 366. STATISTICAL METHODS
Introduction to theory and techniques of statistics as ap plied in
economics. Probability theory, descriptive statistics, statistical inference.
Not open to students who have credit for MATH 348. Neither MATH 147 nor
PSYC 243 is a substitute for ECON 366.
ECON 381. SELECTED TOPICS IN ECONOMICS
offered as needed, variable credit
Intermediate study and analysis of selected economic issue. Specific
topic and prerequisites (normally ECON 160 or 162, or both) announced in
advance. May be repeated for credit with consent of department.
ECON 383. SELECTED TOPICS IN APPLIED
MICROECONOMICS
offered as needed, variable credit
Intermediate study and analysis of selected microeconomic issue. Specific topic and prerequisite (normally ECON 160) announced in advance. May be repeated for credit with consent of department.
ECON 385. SELECTED TOPICS IN APPLIED
MACROECONOMICS
offered as needed, variable credit
Intermediate study and analysis of selected macroeconomic issue. Specific topic and prerequisite (normally ECON 162) announced in advance. May be repeated for credit with consent of department.
ECON 395. INTERNSHIP IN ECONOMICS
variable credit
Internship applying economic analysis in business or public agency under supervision of faculty sponsor. Prerequi sites: ECON 160 or 162 as appropriate to emphasis of the internship, and consent of faculty sponsor.
ECON 397. INDEPENDENT STUDY IN ECONOMICS
variable credit
Tutorial study for intermediate students of special topics not offered
elsewhere in the curriculum. Prerequisites: ECON 160 or 162 as appropriate
to the topic, and consent of faculty sponsor.
ECON 414. ECONOMIC DEVELOPMENT: EAST ASIA
Meaning and measurement of economic underdevelop ment, entrepreneurship
and technical change, balanced vs. unbalanced growth, optimal allocation
of investment. Relationships of disguised unemployment and population growth
to development. Examples from and applications to East Asia. Prerequisites:
ECON 360 and 362.
ECON 426. HISTORY OF ECONOMIC THOUGHT
Evolution of economic doctrine from emergence of na tional states in
Europe to present: survey of ideas of econo mists, such as Smith, Ricardo,
Malthus, Mill, Marshall, Veblen, Keynes, and contemporaries such as Friedman,
Galbraith, and Sweezy. Interaction of methods of eco nomic theorizing with
changing socioeconomic conditions. Prerequisites: ECON 162 and 360.
ECON 430. URBAN ECONOMICS
Economic functions of cities; economic interrelationships between urban
core and greater metropolitan area. Prob lems of location, land use, industrial
and population distri bution, race, housing, transportation. Prerequisite:
ECON 360.
ECON 433. ENVIRONMENTAL AND NATURAL
RESOURCE ECONOMICS
Market failures in the allocation of environmental and natural resources.
Efficiency and equity implications of environmental policies. Topics include
acid rain, global warming, water pollution, fisheries, air pollution, species
extinction, and loss of habitat such as tropical forests. Prerequisite:
ECON 360.
ECON 436. INTERNATIONAL TRADE
Theories of international trade, tariffs, import quotas, com mercial
policies and agreements. Foreign trade, trade policies of the United States.
GATT, NAFTA, EC and other world economic organizations. Prerequisite: ECON
360.
ECON 437. INTERNATIONAL FINANCE
Topics covered in this course are: the balance of payments, exchange
rate determination, monetary and fiscal policies for external stabilities,
capital mobility, and the interna tional monetary system. Various policy
questions such as persistent U.S. deficit in the balance of payments, a
debt crisis of LDCs, the European Currency Unit, etc. will be explored
along with theories. Prerequisites: ECON 160 and 362.
ECON 440. INDUSTRIAL ORGANIZATION AND
PUBLIC POLICY
Relationship between behavior of firm and market structure: how these
relationships affect public welfare and are regulated by social intervention.
Prerequisite: ECON 360.
ECON 442. INVESTMENT AND SPECULATION
Investment decisions for businesses and households, involving a knowledge
of security market operations and investment theory. Prerequisites: ECON
360 and 366 or equivalent. Not open to students who have previously or
concurrently taken and received credit for FIN 322.
ECON 443. ECONOMICS OF LABOR
Labor supply; determinants of population growth, labor force participation,
education, training, and health of labor force. Specific labor market problems:
wage determina tion, labor's share of national income, unemployment, impact
of unions. Prerequisite: ECON 360. Suggested prerequisite: ECON 366.
ECON 445. PUBLIC EXPENDITURES AND
PUBLIC CHOICE
Government as the agency that corrects for market defects. Theories
of public goods, externalities, and Pareto optimal redistribution of income.
Topics in the modeling of govern ment or public choice, including economic
analysis of coalition formation, governmental size, behavior of voters,
behavior of political representatives and bureaucrats, and support for
certain types of legislation, including
regulation. Prerequisite: ECON 360.
ECON 446. ECONOMICS OF TAXATION
Criteria for evaluation of tax structures: concepts of eco nomic efficiency
and equity. Evaluation of contemporary United States federal, state, and
local tax structures using these criteria; role of tax reform. Study of
effects of personal income, corporate income, consumption, excise, social
security, and property or wealth taxes on choices made by economic agents.
Evaluation of alternative methods of governmental finance such as inflation
and debt financing. Prerequisite: ECON 360.
ECON 450. MONETARY ECONOMICS
Supply and demand for money, theory and evidence. Function of money,
interest rates, and banking system in credit and income determination process.
Instruments, techniques, theory of monetary policy. Prerequisite: ECON
362.
ECON 459. ECONOMIC GROWTH AND FISCAL POLICY
Interconnections between theories of growth and supply -side economics.
Determinants of growth. Optimal growth. Explanations of recent productivity
growth slowdown. Effects of taxes on labor supply, savings, and investment.
Popular treatments of supply-side economics. Has supply -side economics
succeeded or failed? Prerequisites: ECON 160 and 362.
ECON 464. MATHEMATICAL ECONOMIC ANALYSIS
Application of mathematical tools to study of contemporary economic
problems. Prerequisites: ECON 360 and 362 and MATH 121, 122, 204, and 223,
or consent of instructor. BA majors in economics may not use both this
course and ECON 466 to fulfill the required three courses numbered 400-489.
ECON 466. INTRODUCTION TO ECONOMETRICS
Econometric techniques necessary for understanding economic literature;
application of these techniques. Treatment of multiple regression and multicolinearity;
introduction to simultaneous equations systems; additional topics, such
as identification, autocorrelation, errors in variables, use of computers
in econometric research. Prerequisite: ECON 366 or equivalent. Recommended
prerequisite: ECON 360 or 362. BA majors in economics may not use both
this course and ECON 464 to fulfill the required three courses numbered
400-489.
ECON 481. SELECTED TOPICS IN ECONOMICS
offered as needed, variable credit
Advanced study and analysis of selected economic issue. Specific topic
and prerequisites (normally ECON 360 or 362, or both) announced in advance.
May be repeated for credit with consent of department.
ECON 483. SELECTED TOPICS IN APPLIED
MICROECONOMICS
offered as needed, variable credit
Advanced study and analysis of selected microeconomic issue. Specific
topic and prerequisite (normally ECON 360) announced in advance. May be
repeated for credit with consent of department.
ECON 485. SELECTED TOPICS IN APPLIED
MACROECONOMICS
offered as needed, variable credit
Advanced study and analysis of selected macroeconomic issue. Specific
topic and prerequisite (normally ECON 362) announced in advance. May be
repeated for credit with consent of department.
ECON 491. PRACTICUM IN COLLEGE TEACHING IN ECONOMICS
Independent study by teaching in ECON 160, 162, and other courses.
Various assignments closely directed by instructor, including leading discussion
section, maintain ing office hours, reading examinations. Does not satisfy
major or all-coIlege requirements. Pass/fail option only. Prerequisites:
grade of A- in ECON 360 or 362, or other appropriate courses, consent of
instructor and director of undergraduate studies.
ECON 495. INTERNSHIP IN ECONOMICS
variable credit
Internship applying economic analysis in business or public agency
under supervision of faculty sponsor. Prerequisites: ECON 360 or 362 as
appropriate to emphasis of the internship, and consent of faculty sponsor.
ECON 497. INDEPENDENT STUDY IN ECONOMICS
variable credit
Tutorial study for advanced students of special topics not offered
elsewhere in the curriculum. Prerequisites: ECON 360 or 362 as appropriate
to the topic, and consent of faculty sponsor.
ECON 498. HONORS RESEARCH DESIGN
2 credits
Design of honors research project and preliminary research under the
supervision of director of honors program. Prerequisite: admission to honors
program.
ECON 499. HONORS THESIS
Execution of research project developed in ECON 498 and writing of
honors thesis under supervision of faculty spon sor. Prerequisite: successful
development of research project in ECON 498.
ECON 501. MACROECONOMIC THEORY
fall
Macroeconomic theory, problems of macroeconomic policy and recent U.S.
experience. Neoclassical, Keynesian, monetarist and supply-side models.
Primarily for master's degree candiates and those with limited undergraduate
background in economic theory.
ECON 502. ECONOMETRIC METHODS
spring
Introductory course which applies regression analysis to economic problems.
Required course for all MA students working on applied or economics and
finance degrees. Prerequisite: statistical methods or equivalent.
ECON 503. MATHEMATICAL ANALYSIS FOR
ECONOMISTS
fall
Sharpens students' mathematical skills in areas of mathematical analysis
important in study of economic theory. No previous knowledge of higher
mathematics assumed. Course covers topics that normally constitute two
or three semesters of calculus, one semester of linear algebra.
ECON 594. MA ECONOMICS WORKSHOP
fall
Defined research project for each student. Topic chosen by faculty
and individual student related to area of specialization offered by department.
Discussions of these projects, research procedures in general, economic
background relevant to projects. Required course for all MA students.
ECON 597. READINGS AND RESEARCH FOR
MA CANDIDATES
1-4 credits
Independent reading and research.
ECON 609. SELECTED TOPICS IN ECONOMICS OF
PUBLIC POLICY
Framework for offering courses in applied microeconomic theory. Topics
vary from semester to semester, usually represent application of economics
to current social problems such as health, pollution, natural resources,
regulation, education, urban public finance.
ECON 611. MICROECONOMIC THEORY I
spring
Techniques of constrained optimization, comparative static analysis.
Consumer theory, production and cost theory, theory of the firm. Problem
sets required. Prerequisites: ECON 500 and 503, or equivalents.
ECON 612. MICROECONOMIC THEORY II
fall
Welfare economics, consumer theory under uncertainty, production and
cost theory, general equilibrium analysis, intertemporal theory, including
both capital and invest ment theory. Prerequisites: ECON 611 or equivalent,
and ECON 503 or equivalent.
ECON 613. MACROECONOMIC THEORY I
fall
Classical theory of income and employment; aggregate supply and demand
analysis; inflation; disequilibrium macroeconomics; modern theories of
consumption, in vestment, and money; monetarism; new classical and new
Keynesian approaches to macroeconomics.
ECON 614. MACROECONOMIC THEORY II
spring
Growth theory and growth accounting; inflation and unemployment, including
Phillips curve, its microeconomics foundations; rational expectations school;
stabilization policies; macroeconometric models; international macro economics.
ECON 615. ECONOMIC STATISTICS
fall
Basic theory of probability, sampling, estimation, hypotheses testing,
correlation and regression analysis, analysis of variance, with applications
to economic research. Undergraduate course in statistics, year of calculus
essential.
ECON 616. ECONOMETRICS
spring
Focus on basic linear regression model within framework of classical
general linear model. Desirable properties of estimators; hypothesis testing;
prediction; autocorrelation and heteroskedasticity, dynamic equations;
problems and techniques involving simultaneous equations. Prerequisite:
ECON 615 or equivalent.
ECON 617. APPLIED ECONOMETRICS
Further development of econometric theory, combined with applications.
Simultaneous equation estimation tech niques; time series methods; rational
expectations and econometrics; tests of causality; non-nested hypothesis
tests; extensive computer applications. Prerequisite: ECON 616 or equivalent.
ECON 618. TOPICS IN ECONOMETRICS
Applications of econometrics, both theoretical and empirical. Frontier
function estimation, limited dependent vari ables, censoring and truncation,
model specification testing, longitudinal data analysis, and unobservable
variables.
ECON 622. HISTORY OF ECONOMIC THOUGHT
Evolution of economic doctrine from emergence of na tional states in
Europe to present. Survey of ideas of prominent economists, including Smith,
Ricardo, Malthus, Mills, Marshall, Veblen, Keynes, and contemporaries like
Friedman, Galbraith, Sweezy.
ECON 631. MONETARY THEORY AND POLICY
Overview of prewar and postwar monetary theory. Velocity, demand for
and supply of money, money substitutes, port folio theory. Theory of monetary
policy, including channels of monetary policy, lags, targets, indicators.
Monetary policy in foreign sector.
ECON 633. SEMINAR IN MONETARY THEORY
Critical analysis of current macroeconomic theorems, mod els, hypotheses,
in static and dynamic setting. Prerequisite: ECON 613 or equivalent.
ECON 636. PUBLIC REVENUES
Application of welfare economics to broad range of prob lems concerning
incidence and effects of tax and debt policy. Personal and corporate income
tax, consumption taxes, social security tax, property tax, value added
tax, etc., and public debt.
ECON 637. PUBLIC EXPENDITURES
Applications of welfare economics to normative theory of public sector.
Intensive analysis of public goods theory, demand revealing processes,
externalities, free rider prob lem, Coase theorem. Positive theory of public
sector. Public supply of private goods.
ECON 641. LABOR ECONOMICS
Factors affecting quantity, quality of labor supply; economic determinants
of population size, labor force partici pation, education, training. Factors
determining demand for different types of labor. Special features of labor
markets, effects of unions, inflation and unemployment.
ECON 642. SEMINAR IN LABOR ECONOMICS
Investment in human capital: schooling, on-the-job train ing, job search,
occupational choice, unemployment, labor force participation. Economics
of labor demand and trade unions. Development of analytical tools and application
of these tools to current issues.
ECON 651. INTERNATIONAL TRADE THEORY
Real trade theory; theory of comparative advantage, deter minants of
commodity composition and factor content of trade, empirical tests of interational
trade theories, theory of commercial policy, monopolistic competition in
interna tional trade, uncertainty in international trade models.
ECON 652. SEMINAR IN INTERNATIONAL MONETARY THEORY
Advanced topics in international monetary theory. Balance of payments
and foreign exchange market; asset markets (international portfolio diversification);
models of exchange -rate determination; balance-of-payments adjustment;
poli cies for internal and external balance. Prerequisite: ECON 651.
ECON 656. ECONOMIC DEVELOPMENT
Economic development and problems of measurement; critical review of
theories and policies.
ECON 671. INDUSTRIAL ORGANIZATION
Relationship between behavior of firm and market structure: how these
relationships affect public welfare and are regulated by social intervention.
ECON 672. THE ECONOMICS OF PUBLIC
REGULATION
Focuses on economic analysis of public regulation in such industries
as electric power, natural gas, airlines, railroads, trucking, telephone,
radio and television. The emphasis is analytical, although relevant institutional
material is also covered. Previous course in micro theory, e.g., ECON 500
or 611 required.
ECON 681. URBAN ECONOMICS
Economics of cities, and patterns of urban location. Sources of growth
and decline for regions, metropolitan areas, cities, suburbs. Interaction
of urban location decisions with housing markets, racial problems, local
governments, trans portation system. Prerequisite: ECON 637.
ECON 693. PREDISSERTATION RESEARCH SEMINAR IN ECONOMICS I
fall, 2 credits
PhD predissertation research seminar to introduce advanced graduate
students to economic research and to help them select and begin work on
suitable dissertation topics.
ECON 694. PREDISSERTATION RESEARCH SEMINAR IN ECONOMICS II
spring, 2 credits
Continuation of ECON 693.
ECON 696. SEMINAR IN SPECIAL TOPICS
Content determined by instructor.
ECON 697. READING AND RESEARCH FOR PhD
CANDIDATES
1-4 credits
Independent reading and research.
ECON 698. PREDISSERTATION RESEARCH
1-9 credits/semester
Independent reading and/or research in preparation for comprehensive
examinations for admission to PhD can didacy, and/or preparation of dissertation
prospectus.
ECON 699. DISSERTATION
1-9 credits/semester
Research for and preparation of the dissertation.
ECON 700. CONTINUOUS REGISTRATION
1 credit/semester
Required for maintenance of matriculated status in graduate program.
No credit toward graduate degree requirements.
ECON 707. RESEARCH SKILLS
1-4 credits
Development of research skills required within graduate programs. May
not be applied toward course credits for any graduate degree. Prerequisite:
approval of relevant graduate program directors or department chairs.