ECONOMICS (ECON)

ECON 50. First-Year Seminar: Future Shock: Global Economic Trends and Prospects. 3 Credits.

Are we heading for global depression and an intensification of international conflict as in the 1930s? Or are we on the threshold of a golden age of peace and prosperity? This course will use the tools of economics and international security analysis to examine the probable directions of that change.
Gen Ed: SS.
Grading status: Letter grade.

ECON 51. First-Year Seminar: Current Economic Problems: The Economics of North Carolina. 3 Credits.

Basic concepts of economics through the study of basic economic issues facing the residents of North Carolina. Topics will include hog farming, the Carolina Panthers, the outsourcing of manufacturing jobs, the proliferation of Wal-Marts, and more.
Gen Ed: SS.
Grading status: Letter grade.

ECON 52. First-Year Seminar: The Root of All Evil? Money as a Cultural, Economic, and Social Institution. 3 Credits.

It is amazing that over time people have developed the willingness to exchange valuable goods for useless pieces of paper called money. In this course, students study money as a social, economic, historical, and cultural institution.
Gen Ed: SS.
Grading status: Letter grade.

ECON 53. First-Year Seminar: The Costs and Benefits of the Drug War. 3 Credits.

The basic question examined in this course will be the costs and benefits of the United States policy of drug prohibition. As a seminar the class will consist of discussions and debates.
Gen Ed: SS.
Grading status: Letter grade.

ECON 54. First-Year Seminar: The Entrepreneurial Imagination: Turning Ideas into Reality. 3 Credits.

What are the skills and competencies that great entrepreneurs have in common and how might first-year students begin to acquire such skills? This course will answer the question by combining a study of the writings of leading scholars on innovation and entrepreneurship with analytical case studies on successful entrepreneurs.
Gen Ed: SS.
Grading status: Letter grade.

ECON 55. First-Year Seminar: Economics of Sports. 3 Credits.

This course uses a varity of economic tools to analyze selected topics and issues related to professional, collegiate, and recreational athletics.
Gen Ed: CI, EE-Mentored Research.
Grading status: Letter grade.

ECON 56. First-Year Seminar: Entrepreneurship: Asia and the West. 3 Credits.

This course fits the Carolina Entrepreneurial Initiative (CEI), with a communication intensive, global issues framework.
Gen Ed: SS, GL.
Grading status: Letter grade.

ECON 57H. First-Year Seminar: Engines of Innovation: the Entrepreneurial University in the 21st Century. 3 Credits.

Exploring research universities' impact on solving the world's biggest problems. Based on a book coauthored by Buck Goldstein and Chancellor Holden Thorp. Students will work on an entrepreneurial project.
Gen Ed: SS, CI.
Grading status: Letter grade.

ECON 58. First-Year Seminar: History of Financial Crisis, 1637-2013. 3 Credits.

This first-year seminar course covers the 376-year history of financial crises ending with the great meltdown of 2008. We will study recurring historical patterns of financial bubbles and examine critical differences among them.
Gen Ed: HS, NA.
Grading status: Letter grade.

ECON 89. First Year Seminar: Special Topics. 3 Credits.

This is a special topics course. Content will vary each semester. Honors version available
Repeat rules: May be repeated for credit; may be repeated in the same term for different topics; 6 total credits. 2 total completions.
Grading status: Letter grade.

ECON 100. Economic Principles. 3 Credits.

Discussion of economic topics of current interest for students with little or no background in economics.
Grading status: Letter grade.

ECON 101. Introduction to Economics. 3 Credits.

Introduction to fundamental issues in economics including competition, scarcity, opportunity cost, resource allocation, unemployment, inflation, and the determination of prices. Honors version available
Gen Ed: SS.
Grading status: Letter grade.

ECON 125. Introduction to Entrepreneurship. 3 Credits.

A survey course providing both a theoretical framework and practical examples of what it means to think like an entrepreneur and how such thinking can impact a range of important societal challenges.
Gen Ed: SS.
Grading status: Letter grade.

ECON 231. Economic History of Western Europe. 3 Credits.

Main features of the emergence and expansion of capitalism since 1500.
Grading status: Letter grade.

ECON 234. Survey of the History of Economic Thought. 3 Credits.

Introduction to the development of economic thought from the mercantilists, through Smith and the classicists, Marx, the neoclassicists to Keynes.
Gen Ed: PH.
Grading status: Letter grade.

ECON 267. Comparative Economic Systems. 3 Credits.

A survey of the principles and performance of capitalist, communist, socialist, corporatist, and transitional systems.
Grading status: Letter grade.

ECON 285. Access to Work in America. 3 Credits.

Focus on systemic and individual factors affecting access to work including gender, race, age, disability, transportation, international competition, technological progress, change in labor markets, educational institutions, and public policy.
Gen Ed: SS, CI, EE-Field Work.
Grading status: Letter grade
Same as: AMST 285.

ECON 291. Undergraduate Learning Assistant Seminar and Practicum. 1-3 Credits.

Permission of the instructor. Studies have shown that courses utilizing undergraduate learning assistants have improved quality of instruction, sensitivity to student concerns, and overall student contact. Undergraduate learning assistants also gain an improved knowledge of the subject matter, heightened communication skills, and a sense of membership in the academic community.
Repeat rules: May be repeated for credit. 12 total credits. 10 total completions.
Grading status: Letter grade.

ECON 293. Internship. 3 Credits.

Permission of the director of undergraduate studies. Majors only. A supervised internship appropriate for experiential education in economics. Cannot count toward the economics major. Pass/Fail only.
Gen Ed: EE-Academic Internship.
Grading status: Pass/Fail.

ECON 310. Microeconomics: Theory and Applications. 3 Credits.

Analysis of the ways in which consumers and business firms interact in a market economy. Students may not receive credit for both ECON 310 and 410.
Grading status: Letter grade
Same as: MNGT 310.

ECON 320. Macroeconomics: Theory and Policy. 3 Credits.

Analysis of economic theory and government policy as they relate to such national economic variables as output, income, employment, inflation, investment, and budget and trade deficits. Students may not receive credit for both ECON 320 and 420 or both ECON 320 and 423.
Grading status: Letter grade.

ECON 325. Entrepreneurship: Principles and Practice. 3 Credits.

A historical overview of the role and importance of entrepreneurship in the economy and society, and a survey of the critical competencies all entrepreneurs (commercial, social, or artistic) must possess. Honors version available
Requisites: Prerequisites, ECON 101 and ECON 125; permission of the instructor for students lacking the prerequisites.
Grading status: Letter grade.

ECON 326. Social Ventures. 3 Credits.

Examines students' knowledge and understanding of social entrepreneurship as an innovative approach to addressing complex social needs. Affords students the opportunity to engage in a business planning exercise designed to assist them in establishing and launching a social purpose entrepreneurial venture.
Grading status: Letter grade
Same as: PLAN 326, PLCY 326.

ECON 327. Business Venturing Workshop. 3 Credits.

A comprehensive survey of commercial venturing throughout the lifecycle of a venture from initial conception to execution and exit. Outlines strategies of entrepreneurs to develop ventures in different commercial markets. Honors version available
Requisites: Prerequisite, ECON 325 or PLCY 327; permission of the instructor for students lacking the prerequisite.
Gen Ed: EE-Academic Internship.
Grading status: Letter grade.

ECON 330. Economic History of the United States. 3 Credits.

Main features of the American economy: colonial times to the present. Students may not receive credit for both ECON 330 and ECON 430.
Grading status: Letter grade
Same as: MNGT 330.

ECON 340. Introduction to Public Finance. 3 Credits.

Principles and practices of the budgetary activities of American governments, federal, state, and local. Students may not receive credit for both ECON 340 and ECON 440.
Grading status: Letter grade.

ECON 345. Public Policy Toward Business. 3 Credits.

Industry structure and its relation to performance; market imperfections; description and analysis of antitrust and regulation. Students may not receive credit for both ECON 345 and ECON 445.
Requisites: Prerequisite, ECON 310 or 410.
Grading status: Letter grade
Same as: MNGT 345.

ECON 360. Survey of International and Development Economics. 3 Credits.

An introduction to basic economic concepts critical to understanding issues of economic development and international economics, particularly as they relate to contemporary policy issues facing both developing and industrialized countries. Honors version available
Gen Ed: SS, GL.
Grading status: Letter grade.

ECON 363. International Economics from the Participant's Perspective. 3 Credits.

This course examines the fundamental principles of international economics from the perspective of the private business firm. Rather than begin with abstract theory, the course will work with case studies of individual firms as they choose to (or are forced to) compete in an international marketplace.
Requisites: Prerequisite, ECON 360; Permission of the instructor for students lacking the prerequisite.
Gen Ed: SS, GL.
Grading status: Letter grade.

ECON 380. The Economics of Labor Relations. 3 Credits.

An economic analysis of workplace issues, including worker quits, layoffs and unemployment, discrimination and affirmative action, and the setting of pay, fringe benefits, and working conditions. Students may not receive credit for both ECON 380 and ECON 480.
Requisites: Prerequisite, ECON 310 or 410.
Grading status: Letter grade
Same as: MNGT 380.

ECON 384. Introduction to Philosophy, Politics, and Economics. 3 Credits.

One course in economics strongly recommended. This interdisciplinary gateway course provides an introduction to subjects and quantitative techniques used to analyze problems in philosophy, political science, and economics.
Gen Ed: PH.
Grading status: Letter grade
Same as: PHIL 384, POLI 384.

ECON 385. Gender and Economics. 3 Credits.

Survey of women's time allocation patterns, labor force participation trends, earnings, occupational selection, and economic history.
Gen Ed: SS, CI, EE-Field Work.
Grading status: Letter grade
Same as: AMST 385, WGST 385.

ECON 390. Special Topics. 1-3 Credits.

Topic varies from semester to semester.
Repeat rules: May be repeated for credit; may be repeated in the same term for different topics; 12 total credits. 4 total completions.
Grading status: Letter grade.

ECON 393. Practicum in Entrepreneurship. 3-6 Credits.

Students spend a minimum of eight weeks in an entrepreneurial environment taking on significant responsibilities and working on a specific project that results in a rigorous agreed-upon deliverable. Honors version available
Requisites: Prerequisite, ECON 327 or PLCY 327.
Gen Ed: EE-Academic Internship.
Grading status: Letter grade.

ECON 395. Research Course. 1-3 Credits.

Topic varies from semester to semester.
Repeat rules: May be repeated for credit. 6 total credits. 2 total completions.
Grading status: Letter grade.

ECON 396. Independent Study. 1-3 Credits.

Permission of the director of undergraduate studies. Readings and research under the supervision of a member of the department.
Repeat rules: May be repeated for credit. 12 total credits. 4 total completions.
Grading status: Letter grade.

ECON 400. Introduction to Statistics and Econometrics. 3 Credits.

Comprehensive introduction to statistics, including descriptive statistics and statistical graphics, probability theory, distributions, parameter estimation, hypothesis testing, simple and multiple regression, and use of powerful statistical estimation software. This course includes a substantial introduction to basic econometrics. Honors version available
Requisites: Prerequisites, ECON 101, STOR 155, and one of MATH 152, 231, STOR 112, or 113.
Gen Ed: QI.
Grading status: Letter grade.

ECON 410. Intermediate Theory: Price and Distribution. 3 Credits.

The determination of prices and the distribution of income in a market system. Students may not receive credit for both ECON 310 and 410. Honors version available
Requisites: Prerequisites, ECON 101, and one of MATH 152, 231, STOR 112, or 113.
Grading status: Letter grade.

ECON 420. Intermediate Theory: Money, Income, and Employment. 3 Credits.

An introduction to contemporary macroeconomic concepts and analysis. Topics include the level, fluctuations, and growth of national income, and monetary and fiscal policies designed to achieve economic goals. Students may not receive credit for both ECON 320 and ECON 420. Honors version available
Requisites: Prerequisite, ECON 410 with a grade of C or better.
Grading status: Letter grade.

ECON 423. Financial Markets and Economic Fluctuations. 3 Credits.

An examination of financial institutions and markets, their role in economic conditions, and the use of macroeconomic policies in affecting those conditions. Students may not receive credit for both ECON 320 and ECON 423. Honors version available
Requisites: Prerequisites, ECON 400, 410, and 420; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 425. Financial Economics. 3 Credits.

How does a risk averse individual allocate their funds? Students begin by defining and measuring risk, making connection to their microeconomics training. They then develop and use asset pricing models to explore the interplay between risk and return. Finally, students use these tools to develop a mean-variance optimal portfolio allocation. Students are introduced to basic quantitative tools and participate in myriad practical applications.
Requisites: Prerequisites, ECON 400, 410, and 420; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 430. Economic Development of the United States. 3 Credits.

This course parallels ECON 330 but is designed for students with a higher level of theoretical preparation. Students may not receive credit for both ECON 330 and ECON 430.
Requisites: Prerequisites, ECON 400, 410, and 420; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 434. History of Economic Doctrines. 3 Credits.

A survey of the fundamental forms of economic thought from the scholastics through Keynes.
Requisites: Prerequisites, ECON 101, 400, and 410; a grade of C or better in ECON 400 and 410 is required.
Gen Ed: SS.
Grading status: Letter grade.

ECON 440. Analysis of Public Finance. 3 Credits.

Application of economic analysis to the taxing and spending functions of government. Students may not receive credit for both ECON 340 and ECON 440.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 445. Industrial Organization. 3 Credits.

The course covers the causes and consequences of firms' strategic behavior, focusing on situations in which firms have market power. The main analytical tools are microeconomic theory and game theory. Topics covered include: pricing, product design, imperfect competition, collusion and cartels, firm-to-firm supply relationships, mergers, and antitrust policy. Students may not receive credit for both ECON 345 and 445.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 450. Health Economics: Problems and Policy. 3 Credits.

Economic analysis applied to problems and public policy in health care.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required; permission of the instructor for students lacking the prerequisites.
Grading status: Letter grade.

ECON 454. Economics of Population. 3 Credits.

Analysis of economic-demographic interrelations including demographic analysis, population and economic growth and development, economic models of fertility and migration, and population policy.
Requisites: Prerequisites, ECON 400 and 310 or 410; a grade of C or better in ECON 400, and 310 or 410 is required; permission of the instructor for students lacking the prerequisites.
Grading status: Letter grade.

ECON 455. Environmental Economic Theory. 3 Credits.

A rigorous economic analysis of environmental issues, with particular emphasis on the problem of designing appropriate institutions and regulations under private information and the interaction between economic and ecological systems. Topics include emission fees and marketable permits, pollution models, carbon regulation, and ecosystem service markets.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 460. International Economics. 3 Credits.

An introduction to international trade, the balance of payments, and related issues of foreign economic policy.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade
Same as: EURO 460, PWAD 460.

ECON 461. European Economic Integration. 3 Credits.

Economic and political aspects of European economic integration, the EC customs union, barriers to integration, convergence vs. divergence of inflation rates and income levels, enlargement of the EC.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better is required in ECON 400 and 410; permission of the instructor for students lacking the prerequisites.
Gen Ed: SS, GL.
Grading status: Letter grade.

ECON 465. Economic Development. 3 Credits.

An introduction to the economic characteristics and problems of the less developed countries and to the theories and policies applicable to the developing economy.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required; permission of the instructor for students lacking the prerequisites.
Gen Ed: SS, GL.
Grading status: Letter grade.

ECON 468. Principles of Soviet and Post-Soviet Economic Systems. 3 Credits.

Study of the principles, design, organization, and performance of state-controlled economies relying on planning or regulated markets, with an emphasis on continuity and post-communist transition.
Requisites: Prerequisites, ECON 400, and 310 or 410; a grade of C or better in ECON 400, and 310 or 410 is required.
Grading status: Letter grade.

ECON 469. Asian Economic Systems. 3 Credits.

This course provides an in-depth examination of the behavioral principles and performances of five core Asian economic systems: Japan, China, Taiwan/South Korea, North Korea and Thailand.
Requisites: Prerequisites, ECON 400, and 310 or 410; a grade of C or better in ECON 400, and 310 or 410 is required.
Grading status: Letter grade
Same as: ASIA 469.

ECON 480. Labor Economics. 3 Credits.

An introduction to the field of labor economics with emphasis on how the interactions between firms and workers influence wages, employment, unemployment, and inflation. Students may not receive credit for both ECON 380 and ECON 480.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 485. Economics of Sports. 3 Credits.

Applies microeconomic techniques to professional and amateur sports through the examination of real-world issues and problems. Employs statistical analysis to test some of the theoretical predictions of the models in the sports literature.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Gen Ed: QI.
Grading status: Letter grade.

ECON 486. Gender and Economics. 3 Credits.

This course uses basic microeconomic theory and recent empirical studies to examine the causes and consequences of gender differences in economic outcomes. Topics covered may include family formation and dissolution, fertility decisions, human capital investment, labor force participation, the gender earnings gap, and occupational choice.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Gen Ed: SS, CI.
Grading status: Letter grade.

ECON 490. Special Topics. 1-3 Credits.

Topic varies from semester to semester.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Repeat rules: May be repeated for credit; may be repeated in the same term for different topics; 12 total credits. 4 total completions.
Grading status: Letter grade.

ECON 493. Practicum in Quantitative Financial Economics. 1 Credit.

This practicum provides students the opportunity to implement and test the models being developed in ECON 525. Students will work with multiple data sources and programming platforms, and engage in a series of practical experiments using live market information.
Requisites: Prerequisites, ECON 400, 410, and 425; a grade of C or better in ECON 400 and 410 is required; corequisite, ECON 525.
Grading status: Letter grade.

ECON 495. Research Course. 1-3 Credits.

Topic varies from semester to semester. Permission of the instructor.
Repeat rules: May be repeated for credit. 6 total credits. 2 total completions.
Grading status: Letter grade.

ECON 496. Independent Study. 1-3 Credits.

Permission of the director of undergraduate studies. Readings and research under the supervision of a member of the department.
Requisites: Prerequisite, ECON 410; a grade of C or better in ECON 410 is required.
Repeat rules: May be repeated for credit. 12 total credits. 4 total completions.
Grading status: Letter grade.

ECON 510. Advanced Microeconomic Theory. 3 Credits.

A treatment of topics in microeconomic theory not normally covered in ECON 410. Honors version available
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 511. Game Theory in Economics. 3 Credits.

Topics in noncooperative and cooperative game theory are covered, along with a selection of applications to economics in areas such as industrial organization, international trade, public finance, and general equilibrium. Honors version available
Requisites: Prerequisites, ECON 400, 410, and MATH 233; a grade of C or better in ECON 400 and 410 is required; permission of the instructor for students lacking the prerequisites.
Grading status: Letter grade.

ECON 520. Advanced Macroeconomic Theory. 3 Credits.

This course will emphasize theoretical and empirical topics such as growth, labor search, Phillips curves, stagflation, and optimal government policy. Honors version available
Requisites: Prerequisites, ECON 400, 410, and 420; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 525. Advanced Financial Economics. 3 Credits.

Building upon the foundation developed in ECON 425, students take part in each of the five steps of the asset allocation process (explore, explain, predict, allocate, and protect) by addressing the following questions. How does the modern financial economist acquire, clean, and transform data? What drives asset returns? Can we forecast returns? How do we form a portfolio in the presence of risk? How do we assess and manage risk?
Requisites: Prerequisites, ECON 400, 410, and 425; a grade of C or better in ECON 400 and 410 is required; corequisite, ECON 493.
Grading status: Letter grade.

ECON 540. Advanced Public Finance. 3 Credits.

Selected topics in taxation, public expenditures, and governmental transfer programs.
Requisites: Prerequisites, ECON 400, 410, and 340 or 440; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 545. Advanced Industrial Organization and Social Control. 3 Credits.

Theory of market failure and its relationship to antitrust and regulatory policy; exploration of empirical literature of industrial organization; current issues in social control.
Requisites: Prerequisites, ECON 400, 410, and 445; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 550. Health Economics. 3 Credits.

Course will equip students with tools used by economists to navigate health-related markets. Topics include the demand for and production of health, the demand for and supply of medical care, and the demand for and supply of health insurance.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Gen Ed: SS, QI.
Grading status: Letter grade.

ECON 560. Advanced International Economics. 3 Credits.

Analysis and interpretation of selected problems and policy issues. Content varies, but attention is given to such topics as trade barriers, trade patterns, floating exchange rates, and international monetary policy.
Requisites: Prerequisites, ECON 400, 410, and 460; a grade of C or better in ECON 400 and 410 is required.
Gen Ed: SS, GL.
Grading status: Letter grade.

ECON 570. Applied Econometric Analysis. 3 Credits.

Statistical methods in the construction, estimation, testing, and application of linear economic models; computer programs and interpretation of their output in empirical analysis of common economic theories. Honors version available
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Gen Ed: SS, EE-Mentored Research, QI.
Grading status: Letter grade.

ECON 575. Applied Time Series Analysis and Forecasting. 3 Credits.

Econometric techniques for time series data. Topics include ARMA models, forecasting, nonstationarity, conditional heteroskedasticity, and multiple equation models.
Requisites: Prerequisites, ECON 400, 410, and 420; a grade of C or better in ECON 400 and 410 is required; permission of the instructor for students lacking the prerequisites.
Gen Ed: SS, QI.
Grading status: Letter grade.

ECON 580. Advanced Labor Economics. 3 Credits.

A theoretical and empirical analysis of current social problems involving individuals and their jobs. Included are such topics as poverty, discrimination, and working conditions.
Requisites: Prerequisites, ECON 400, 410, and 480; a grade of C or better in ECON 400 and 410 is required.
Grading status: Letter grade.

ECON 586. Economics of the Family. 3 Credits.

Analyzes the family with respect to the marriage market; divorce; reproductive behavior; the baby black market; intra-family allocation of goods, time, and power; labor supply; migration; and family policy.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required; permission of the instructor for students lacking the prerequisites.
Grading status: Letter grade.

ECON 590. Special Topics. 1-3 Credits.

Topic varies from semester to semester.
Requisites: Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required.
Repeat rules: May be repeated for credit; may be repeated in the same term for different topics; 12 total credits. 4 total completions.
Grading status: Letter grade.

ECON 595. Research Course. 1-3 Credits.

Topic varies from semester to semester.
Repeat rules: May be repeated for credit. 6 total credits. 2 total completions.
Grading status: Letter grade.

ECON 596. Independent Study. 1-3 Credits.

Permission of the director of undergraduate studies. Readings and research under the supervision of a member of the department.
Requisites: Prerequisite, ECON 410; a grade of C or better in ECON 410 is required.
Repeat rules: May be repeated for credit. 12 total credits. 4 total completions.
Grading status: Letter grade.

ECON 691H. Honors Course. 3 Credits.

Permission of the instructor. Readings in economics and beginning of directed research on an honors thesis. Required of all candidates for graduation with honors in economics.
Gen Ed: EE-Mentored Research.
Grading status: Letter grade.

ECON 692H. Honors Course. 3 Credits.

Permission of the instructor. Completion of an honors thesis under the direction of a member of the faculty. Required of all candidates for graduation with honors in economics.
Requisites: Prerequisite, ECON 691H .
Gen Ed: EE-Mentored Research.
Grading status: Letter grade.

ECON 698. Philosophy, Politics, and Economics II: Capstone Course. 3 Credits.

Permission of the department. This capstone course advances PHIL 384, focusing on such theoretical and philosophical issues as the analysis of rights or distributive justice and the institutional implications of moral forms.
Requisites: Prerequisite, PHIL 384.
Grading status: Letter grade
Same as: PHIL 698, POLI 698.

ECON 700. Basic Quantitative Techniques. 3 Credits.

Topics from linear algebra, calculus, linear and nonlinear programming, and the theory of difference and differential equations with applications to economics.

ECON 710. Advanced Microeconomic Theory I. 3 Credits.

Pre- or Consumer and producer theory, expected utility, perfect competition and monopoly, introduction to general equilibrium and welfare economics.
Requisites: co-requisites, ECON 410 and 700.

ECON 711. Advanced Microeconomic Theory II. 3 Credits.

General equilibrium and welfare economics, game theory and oligopoly, information economics.
Requisites: Prerequisite, ECON 710.

ECON 720. Advanced Macroeconomic Theory I. 3 Credits.

Keynesian and classical equilibrium models; the neo-Keynesian synthesis; monetarist and other alternative analytic frameworks.
Requisites: Prerequisite, ECON 420.

ECON 721. Advanced Macroeconomic Theory II. 3 Credits.

Growth models, general equilibrium approach to monetary theory; input-output; disequilibrium theory; extensions of Keynesian and classical models.
Requisites: Prerequisite, ECON 720.

ECON 770. Introduction to Econometric Theory. 3 Credits.

Probability theory, expectation, conditional expectation, modes of convergence, limit and interchange theorems, and the asymptotics of maximum likelihood, generalized method of moments and efficient method of moments.

ECON 771. Econometrics. 3 Credits.

One semester coverage of basic econometrics. Topics include: regression under ideal and nonideal conditions; special models, including simultaneous equations models; and applications and econometric computer programs.
Requisites: Prerequisite, ECON 770.

ECON 799. Experimental. 1-3 Credits.

Varied.
Repeat rules: May be repeated for credit.

ECON 806. Seminar in Teaching Methods in Economics. 3 Credits.

Doctoral candidacy in economics or permission of the instructor. Covers skills in lecturing, encouraging student participation and active learning, writing exams, planning and evaluating courses. Students design and teach a module that includes class discussion and hands-on learning.

ECON 810. Game Theory I. 3 Credits.

Noncooperative games in strategic and extensive form, with perfect and imperfect information. Other topics from: information economics, mechanism design, auctions, repeated games, bargaining, bounded rationality, learning, evolutionary games, cooperative games.
Requisites: Prerequisite, ECON 710 and 711; permission of the instructor for students lacking the prerequisites.

ECON 811. Game Theory II. 3 Credits.

This course is a continuation of ECON 810. Topics covered will be chosen from those listed, but not covered in ECON 810.
Requisites: Prerequisite, ECON 810; permission of the instructor for students lacking the prerequisite.

ECON 820. Monetary Theory. 3 Credits.

Examination of theory and evidence on money demand, money supply, and portfolio analysis. Barter versus monetary economics, portfolio school, monetarism, monetary theories of interest rate determination.

ECON 821. Monetary Policy. 1-3 Credits.

Optimal policy under uncertainty, financial intermediation and monetary control, channels of monetary influence, monetary policy and inflation, rules versus authority.
Requisites: Prerequisite, ECON 720; permission of the instructor for students lacking the prerequisite.

ECON 840. Advanced Finance: Expenditure. 3 Credits.

Analysis of market failure and reasons for public spending, cost-benefit analysis and program budgeting, public decision making, redistribution and fiscal equity, intergovernmental transfers.

ECON 841. Advanced Public Finance: Revenues. 3 Credits.

Criteria for judging tax structures, incidence and impact of taxation, user charges and debt finance, intergovernmental coordination, and macroeconomic effects.
Requisites: Prerequisite, ECON 840; permission of the instructor for students lacking the prerequisites.

ECON 845. Advanced Business Organization and Social Control. 3 Credits.

Permission of the instructor. Extensive readings in the literature are required. Emphasis is placed upon the role of economic analysis in dealing with problems in this field.

ECON 846. Theoretical Industrial Organization. 3 Credits.

This course covers theoretical industrial organization (IO). Topics typically covered include: price discrimination, product bundling, foreclosure analysis, vertical relations between firms, two-sided markets, dynamic games, and markets with switching costs and network effects.

ECON 847. EMPIRICAL INDUSTRIAL ORGANIZATION I. 3 Credits.

This course covers empirical methods in industrial organization (IO), and is typically presented as the first part of a two-course empirical IO sequence. Topics typically covered include: demand estimation, information issues, vertical relations between firms, and productivity.

ECON 848. EMPIRICAL INDUSTRIAL ORGANIZATION II. 3 Credits.

This course covers empirical methods in industrial organization (IO), and is typically presented as the second part of a two-course empirical IO sequence. Topics typically covered include: static games of complete and incomplete information, dynamic demand, dynamic games, and auctions.

ECON 850. Health Economics. 3 Credits.

Measurement and modeling of the demand for medical care, the demand for and supply of health insurance, and the incorporation of health, medical care, and health insurance in determining both short and long run labor supply.
Requisites: Prerequisites, ECON 710 and 771; permission of the instructor for students lacking the prerequisites.

ECON 851. Health Economics for Developing Countries. 3 Credits.

Major topics are: how health and development are related, the demand for health services, cost-benefit and cost-effectiveness analysis, and methods for financing health care in developing, resource-constrained nations.
Requisites: Prerequisites, ECON 710 and 771; permission of the instructor for students lacking the prerequisites.

ECON 855. Economics and Population. 3 Credits.

Analysis of economic-demographic interrelationships including: population and economic development; population, environmental decay, and zero population growth; models of fertility, migration, and spatial organization; population policy. (Not regularly offered.)
Requisites: Prerequisite, graduate standing in economics or permission of the instructor.

ECON 860. Theory of International Trade. 3 Credits.

Graduate standing in economics or permission of the instructor. The theory of international values; comparative advantage and the gains from trade; commercial policy.

ECON 861. International Monetary Economics. 3 Credits.

Graduate standing in economics or permission of the instructor. Analysis of the international monetary system; exchange rates; the process of adjustment in the balance of payments.

ECON 865. Economic Development: Theory and Policy. 3 Credits.

Permission of the instructor. Intensive study of the development processes and problems of the less developed countries, with emphasis on theories of growth and development, internal and external policies, and planning strategies.

ECON 866. Selected Topics in Economic Development and Development Planning. 3 Credits.

Examination of various topics in economic progress of the less developed countries, with special emphasis on the role of international issues.
Requisites: Prerequisite, ECON 865.

ECON 867. Comparative Economic Systems. 3 Credits.

This course focuses on alternative theories of United States capitalism, French indicative planning, Yugoslavian worker-managed market socialism, Soviet central planning, and the Chinese worker-controlled decentralized planning model.

ECON 868. Socialist Economic Thought in Historical Perspective. 3 Credits.

ECON 870. Advanced Econometrics. 3 Credits.

ECON 870 constitutes a one-semester treatment of the fundamental theory of econometrics. Topics covered include asymptotic distribution theory, linear and nonlinear models, specification testing techniques, and simultaneous equations models.
Requisites: Prerequisites, ECON 770, 771, and MATH 547.

ECON 871. Time Series Econometrics. 3 Credits.

Covers stationary univariate and multivariate time series models, spectral analysis methods, nonstationary models with time trends, unit roots and cointegration, and special topics such as conditional volatility, the Kalman filter, and changes of regime.
Requisites: Prerequisite, ECON 870.

ECON 872. Nonlinear Econometric Methods. 3 Credits.

Density estimation, nonparametric regression, neural nets, nonlinear regression, generalized method of moments, seminonparametric time series, estimating stochastic differential equations and nonlinear latent variables.
Requisites: Prerequisite, ECON 870.

ECON 873. Microeconometrics. 3 Credits.

Limited dependent variable models such as binary outcome models, multinomial outcome models, and censored and truncated outcome models. Count data models. Duration models. Panel data analysis.
Requisites: Prerequisite, ECON 870.

ECON 876. Advanced Topics in Empirical Finance. 3 Credits.

This course will cover a selected list of current empirical research topics in finance and related econometric methods.
Requisites: Prerequisite, ECON 871.

ECON 877. Foundations for Continuous Time Asset Pricing. 3 Credits.

This course introduces students to mathematical foundations and economic interpretation of the main probabilistic tools (stochasatic calculus, martingale methods) in continuous time finance.
Requisites: Prerequisites, STOR 634 and 635.

ECON 880. Labor Economics I. 3 Credits.

Analysis of short- and long-run aspects of supply and demand of labor, including empirical analysis of labor force behavior of males, females, blacks, and whites. Microeconomic effects of marriage, fertility, mobility on labor supply, and macroeconomic effects of unemployment on inflation.
Requisites: Prerequisite, ECON 710; permission of the instructor for students lacking the prerequisite.

ECON 881. Labor Economics II. 3 Credits.

Life cycle analysis of supply and demand for labor as a determinant of individual wages. Topics include an analysis of discrimination, union power, and governmental manpower policies on the distribution of earnings across the population.

ECON 890. Seminar. 1-15 Credits.

Permission of the instructor. Individual research in a special field under direction of a member of the department.
Repeat rules: May be repeated for credit; may be repeated in the same term for different topics.

ECON 892. Research Practicum. 1-3 Credits.

Students complete a pre-approved internship under the direction of a faculty member and the director of graduate studies. A paper summarizing the research work is required.
Repeat rules: May be repeated for credit.

ECON 896. Independent Study. 1-3 Credits.

Varied.
Repeat rules: May be repeated for credit; may be repeated in the same term for different topics.

ECON 899. Experimental. 1-3 Credits.

Varied.
Repeat rules: May be repeated for credit.

ECON 900. Dissertation Workshop: Topics in Economics. 1-3 Credits.

Permission of the instructor. Discussion of current research with topics varying from year to year. Oral and written reports on dissertation research. May be repeated for credit.
Repeat rules: May be repeated for credit.

ECON 910. Dissertation Workshop in Microeconomic Theory. 1-3 Credits.

Permission of the instructor. Discussion of current research in microeconomic theory and industrial organization. Oral and written reports on dissertation research. May be repeated for credit.
Repeat rules: May be repeated for credit.

ECON 920. Dissertation Workshop in Macroeconomics. 1-3 Credits.

Permission of the instructor. Discussion of current research in macroeconomics and monetary economics. Oral and written reports on dissertation research. May be repeated for credit.
Repeat rules: May be repeated for credit.

ECON 958. Seminar in Population. 3 Credits.

Graduate standing in economics required. For advanced population students, this course addresses the newest and most advanced economic demography literature.

ECON 960. Dissertation Workshop in International and Development Economics. 1-3 Credits.

Permission of the instructor. Discussion of current research in international and development economics. Oral and written reports on dissertation research. May be repeated for credit.
Repeat rules: May be repeated for credit.

ECON 966. Seminar in Economic Development. 1-3 Credits.

This course is an introduction to the literature and research methods of economic development and transition economies. May be repeated for credit.
Repeat rules: May be repeated for credit.

ECON 968. Seminar in Soviet Economics. 3 Credits.

Permission of the instructor. Studies of selected problems of the Soviet economy and related aspects of Soviet economic thought. Seminar members are expected to present reports on assigned research topics.

ECON 970. Dissertation Workshop in Econometrics and Financial Econometrics. 1-3 Credits.

Permission of the instructor. Discussion of current research in econometrics and financial econometrics. Oral and written reports on dissertation research. May be repeated for credit.
Repeat rules: May be repeated for credit.

ECON 971. Research in Econometrics. 3 Credits.

The course introduces students to theoretical and applied research topics in econometrics. May be repeated for credit.

ECON 981. Seminar in Labor. 1-3 Credits.

The course introduces students to research topics in labor economics. May be repeated for credit.
Repeat rules: May be repeated for credit.

ECON 985. Dissertation Workshop in Applied Microeconomics. 1-3 Credits.

Permission of the instructor. Discussion of current research in applied microeconomics. Student presentations of dissertation and other research. Oral and written reports on dissertation research.
Repeat rules: May be repeated for credit.

ECON 990. Special Topics. 1-3 Credits.

ECON 992. Master's (Non-Thesis). 3 Credits.

ECON 994. Doctoral Research and Dissertation. 3 Credits.