Economics Courses

Eco 500 Microeconomics (3)

Optimization models of the consumer and firm are used to study competitive and noncompetitive markets. Topics in welfare economics, the theory of market failure, tax incidence, and income distribution are discussed. Empirical research based on microeconomic models is reviewed. Prerequisites: Eco 300 and one semester of calculus.

Eco 501 Macroeconomics (3)

Theories of national output, employment, and prices. Analysis of policies for stabilization and growth. Empirical research and applications are reviewed. Prerequisite: Eco 301.

Eco 505 Game Theory (3)

Study of the strategic interaction among rational agents. Development of the basic analytical tools of game theory, including simultaneous and sequential move games, games with incomplete information, and alternative equilibrium concepts. Applications in fields such as industrial organization, public economics, international trade, and voting. A course project is required. Students who receive credit for AECO405 cannot receive credit for this course.

Eco 510 Mathematics for Economists (3)

Applications of advanced calculus to economic analysis of consumption, production, profits, stock valuation and general equilibrium. Topics include series convergence, continuity, differentiability, the Mean Value Theorem, Taylor’s Theorem, vector spaces, the Fundamental Theorem of Linear Algebra, determinants, the Jacobian Matrix, the Implicit Function Theorem, optimization, constrained maximization and the Fundamental Theorem of Calculus. Prerequisites: A ECO 300, AECO 301 and A MAT 112 or A MAT 118, or permission of instructor. Students who receive credit for AECO410 cannot receive credit for this course.

Eco 511 (Hpm 511) Economic Analysis for Health Policy and Management (3)

This course is an introduction to the field of health economics. Health Economics is an active field of microeconomics with a large and growing literature. This course will combine economic theory, recent research, and current health reform and policy problems into a comprehensive overview of the field.

Eco 519 Economic Surveys and Forecasting (3)

This course introduces the survey methodology in economics and business for forecasting purposes. Surveys include those of households, experts, and establishments. Topics include: Survey data and methodologies, evaluation of survey data and forecasts, use of survey data in time series modeling techniques for forecasting purposes. Discussion of such important macroeconomic indicators as the leading economic indicators, NAPM index, Diffusion Indices, Consumers sentiment, Price and Industrial Production indices, etc. will be included.

Eco 520 Quantitative Methods I (3)

Introduction to quantitative methods in economics. Techniques of data analysis, statistical theory, and linear regression are applied to economic problems.

Eco 521 Quantitative Methods II (3)

Continuation of Eco 520. Econometric extensions of linear regression, forecasting, and methods of analyzing time-series and cross-section data.

Eco 525 Time Series and Forecasting (3)

This course introduces univariate and multivariate time series models for forecasting in economics. Topics include ARIMA, VAR and GARCH models, unit roots and co-integration, out-of-sample forecasting techniques, model selection, response function analysis and variance decompositions, state space models, various non-linear models, Bayesian approaches and forecast evaluation. Use will be made of case studies and real-life applications in business and finance.

Eco 527 Computer Applications in Economics (3)

Introduction to computer use and applications in economics, econometrics, and data analysis. Applications may include spreadsheet software such as Excel and statistical software such as SAS. A course project is required.

Eco 529 Forecasting in the Public Sector (3)

The course offers a comprehensive analysis of the role, importance, and mechanics of economic forecasting in the public sector including the Federal, State governments, and in international organizations like IMF, World bank, and OECD. The quality of these forecasts in relation to private market forecasts will be explored. The importance of long-term and short-term forecasts for revenues, taxes, economic growth, Medicaid and Medicare expenditures, welfare caseloads, transportation, etc. will be studied from the standpoint of planning and budgetary purposes. The role of bias in these forecasts due to economic and political uncertainities, and other institutional factors are analyzed.

Eco 530 Economics of the Public Sector (3)

Theory of the public interest, market failure, equity, and other justification for government expenditure and tax policy. Comparison of political and economic rationale for decision making. Students who receive credit for AECO455 cannot receive credit for this course.

Eco 531 Fiscal Economics (3)

Emergence of fiscal policy, scope of government intervention in the national economy, theories of fiscal policy. Economic goals of stabilization, full employment, growth, and income redistribution. Administration of fiscal policy.

Eco 545 International Trade and Global Business (3)

Theoretical, institutional, and empirical characteristics of trade and global business. Review of the pure theories of comparative advantage, gains from trade, trade policy, and capital movements between nations, such as foreign direct investment. Students who receive credit for Eco 445 cannot receive credit for this course.

Eco 546 International Macroeconomics (3)

The foreign exchange market and international payments are described and analyzed. Emphasis is placed on analyzing the implications of flexible and fixed exchange rate regimes for the stabilization of price levels and employment in small and large countries. Proposals for exchange management and reform of the international monetary system are evaluated. A research project is required. Students who receive credit for AECO446 cannot receive credit for this course.

Eco 557 Theories of Fairness (3)

Explores alternative notions of fairness and their relation to economic efficiency and collective welfare. The focus will be on developing appropriate analytical tools and applying them to a wide range of allocation problems, including market exchange, bargaining, cost-sharing, bankruptcy, estate division, and collective decision-making. Prerequisites: Prerequisite: AECO 300. Students who receive credit for AECO457 cannot receive credit for this course.

Eco 560 Monetary and Financial Institutions (3)

Analysis of the monetary and financial institutions of the United States and the transactions that give rise to the money supply and other financial aggregates; the impact of changes in monetary aggregates on the level of economic activity and implications for a monetary policy.

Eco 566 Financial Economics (3)

Financial markets, efficient-market theory, financial panics, choice under uncertainty, risk aversion, portfolio choice, capital-asset pricing model, futures, options, flow of funds, saving and investment, financing economic development, government debt, international debt, term structure of interest rates, interest rate forecasting. Prerequisite: Eco 301 or Eco 350. Students who receive credit for AECO466 cannot receive credit for this course.

Eco 580 Special Topics in Economics (1-3)

Special topics in economics will be selected for detailed examination. Topics may vary from semester to semester. May be repeated for credit.  Students who receive credit for AECO480 cannot receive credit for this course.

Eco 581 Environmental Economics (3)

Environmental pollution, social costs, population control, zoning, economics of public health, conservation of endangered species, natural wonders and artifacts, natural resource exhaustion, and end of progress hypotheses are examined and analyzed. A research project is required.

Eco 590 Internship in Forecasting (3)

Experience in the application of forecasting techniques in government, business, or the nonprofit sector.

Eco 590C Internship in Forecasting Continuation (1)

Continuation course for the internship in forecasting. This course is graded load-only and does not count towards a graduate degree program.

Eco 592 Seminar in Economic Forecasting (3)

Theory and application of forecasting techniques in the public and private sectors. A research paper is required. Prerequisite: Consent of department.

Eco 592C Seminar in Economic Forecasting Continuation (1)

Continuation course for the seminar in economic forecasting. This course is graded load-only and does not count towards a graduate degree program.

Eco 600 Microeconomics I (3)

Rigorous analysis of models of consumers and firms and their interaction in markets. Topics: optimization, uncertainty, perfect and inperfect competition, game theory. Prerequisite: Multivariable calculus, linear algebra, intermediate microeconomics or equivalent.

Eco 601 Macroeconomics I (3)

This course introduces the three main workhorse models that are used in modern macroeconomic analysis. These are optimal growth, overlapping generations and search. The aim of the macroeconomics sequence is to have students learn how to develop market (general equilibrium) models to address issues of relevance to macroeconomists. Much of this course is spent on the required analytical tools that are used. These are learned through the exposition of increasingly sophisticated macroeconomic models.

Eco 610 Mathematical Economics I (3)

Real analysis and linear algebra are developed and applied in optimization theory, comparative statics, and stability analysis in economics. Prerequisites: Two terms of calculus or equivalent.

Eco 620 Econometrics I (3)

Introduction to econometrics, including the discussion of probability and distribution theory and their use in developing methods of hypothesis testing, parameter estimators, and the regression model. Prerequisite: A year calculus course.

Eco 621 Econometrics II (3)

The single equation linear regression model in a matrix algebra context and its application to economic problems. Ordinary least squares, generalized least squares, and other extensions of the standard model. Single equation regression under special conditions and development of the multiple equation linear regression model. Prerequisite: Eco 620 or equivalent.

Eco 697 Independent Study (1-3)

Guided study in selected topics for master's students. Prerequisite: Consent of departmental advisor.

Eco 698 Master's Essay (3)

Eco 698C Master's Essay Continuation (1)

Course grading is Load Only and does not earn credit. Appropriate for master's students engaged in research and writing of the master's essay beyond the level applicable to their degree program.

Eco 700 Microeconomics II (3)

Analysis of interaction among firms, consumers and governments. Topics: perfect and imperfect competition, imperfect information, externalities, general equilibrium, welfare theory. Prerequisites: Eco 600.

Eco 701 Macroeconomics II (3)

This course surveys major topics in macroeconomics, including theories of consumption, investment, inflation, asset pricing.

Eco 710 Mathematical Economics (3)

General equilibrium theory, game theory, economics of uncertainty, and other topics.

Eco 720 Econometrics III (3)

Advanced simultaneous equations estimation and testing procedures; models that use both cross-section and time-series data, varying parameter models; diagnostic tests, model selection and pre-test estimators; non- linear regression models; time-series and distributed lag models; introductory Bayesian methods. Prerequisite: Eco 621.

Eco 721 Applied Econometrics (3)

Application of the single and multiple equation regression models to the estimation and testing of specific economic theories using both micro and macro data; advanced econometric forecasting and business cycle analysis; selected topics of current interest are discussed. Prerequisite: Eco 720.

Eco 730 Public Finance I (3)

Market failures and the collective decisions that must be made in their wake, public goods, Tiebout hypothesis, externalities, and income distribution.

Eco 731 Public Finance II (3)

Theory and practice of taxation, tax incidence, optimal taxation, theory of regulated firms and decision rules for government investment.

Eco 741 Economics of Development I (3)

A rigorous introduction emphasizing (1) major themes and debates in the literature, (2) micro and macroeconomic modeling of development processes, and (3) review of empirical evidence. Topics include the economic theory of accumulation, growth and distribution; transformation of traditional agriculture; the microeconomics of rural development; and the role of international trade in development.

Eco 742 Economics of Development II (3)

Continuation of Eco 741 focusing on recent advances in some of the following areas: models of structural change, development strategies analyzed in general terms or in the context of specific countries, agrarian organization and systems of land tenure, labor markets and human resource development, financing of development and trade policies.

Eco 745 Theory of International Economics (3)

Advanced analysis of the pure theories of trade, commercial policy and resource transfers, and the theories of balance of payments adjustment and policy. Students are expected to be able to employ the tools of calculus and linear algebra in economic analysis.

Eco 746 International Monetary Economics (3)

This course surveys modern open economy macroeconomic models, including the Mundell-Fleming model, the monetary and asset market approaches, and modern models grounded in microfoundations. It also covers special topics of current interest, such as purchasing power parity, interest rate parity, international policy coordination, and collapsing exchange rate systems.

Eco 750 Labor Economics (3)

Theoretical and empirical analysis of the supply and demand for labor, human capital and the education-income nexus, wage differentials, discrimination, job search, unemployment, and other problems.

Eco 760 Monetary Theory (3)

This course investigates the role of money in a macroeconomy. Topics include microfoundations of money demand, real effects of money in alternative models, asset pricing, and nominal rigidities.

Eco 797 Independent Study and Research (2-6)

Guided study in selected topics for doctoral students. Prerequisite: Consent of departmental advisor.

Eco 798 Advanced Research Topics (2-5)

This course focuses on a small number of research topics selected by the student and his/her advisor. The objective is to provide the advanced training needed for research on a particular subject. Research paper required.

Eco 800 Workshop in Microeconomics (0-4)

Forum for the presentation and discussion of students' research proposals, work in progress and research results in applied and theoretical microeconomics. A total of 8 workshop credits may be applied to the doctoral degree.

Eco 801 Workshop in Macroeconomics (0-4)

Forum for the presentation and discussion of students' research proposals, work in progress and research results in applied and theoretical macroeconomics. A total of 8 workshop credits may be applied to the doctoral degree.

Eco 802 Advanced Topics in Theory and Econometrics (3)

Selected advanced topics in economic theory and econometrics are investigated.

Eco 803 Advanced Topics in Applied Economics (3)

Selected advanced topics in applied economics are investigated.

Eco 820 Workshop in Econometrics (0-4)

Forum for the presentation and discussion of students' research proposals, work in progress and research results in applied and theoretical econometrics. A total of 8 workshop credits may be applied to the doctoral degree.

Eco 899 Doctoral Dissertation (1)

Prerequisite: Completion of all courses. Registration for this course is limited to doctoral students who have been admitted to candidacy. Course grading is Load Only and does not earn credit.