Courses

Course Descriptions

[For descriptions of the Mathematics and Statistics courses required for the Mathematical Economics major click  here.]

Where there are course changes once a major has been declared, transitional arrangements will be made.  Speak to your advisor if you have questions.

 

150. Introduction to Economics. (3h)

A survey of micro and macroeconomic principles. Introduction to basic concepts, characteristic data and trends, and some analytic techniques. Preference in enrollment will be given to students with sophomore or upper class standing.

 

205. Intermediate Microeconomics I. (3h)
Development of demand and supply analysis, neoclassical theory of household and firm behavior, and alternative market structures. P–ECN 150 and MST 111 or 112.

 

206. Intermediate Microeconomics II. (3h)
More advanced theory of maximizing behavior of economic agents with discussion of risk, uncertainty, and economic dynamics. Theory employed in assessment of policy issues. P–ECN 205.

 

207. Intermediate Macroeconomics (3h)

Development of macroeconomic concepts of national income, circular flow, income determination, causes of unemployment, IS-LM analysis, inflation and growth.  Emphasizes contributions of Keynes and the Keynesian tradition.  P–ECN 150 and MST 111 or 112.

 209.  Applied Econometrics.  (3h)

 An introduction to regression analysis methods used to estimate and test relationships among economic variables.  Selected applications from microeconomics and macroeconomics are studied.  Emphasis is on examining economic data, identifying when particular methods are appropriate, and interpreting statistical results.  P-ECN 150 and MST 109 (or similar course, including ANT 380; BIO 380; BEM 201; HES 262; MST 358; or SOC 271).

 

NEW 210. EFFECTIVE FALL 2017. Intermediate Mathematical Microeconomics. (3h) 

Mathematically intensive approach to demand and supply analysis, neoclassical theory of household and firm behavior, and alternative structures. P-ECN 150 and MST 112.

 

NEW 211. EFFECTIVE FALL 2017. Intermediate Mathematical Macroeconomics. (3h)

Mathematically intensive approach to macroeconomic analysis of national income, unemployment, inflation, and growth. P-ECN 150 and MST 112.

 

215. Econometric Theory & Methods. (3h)
Estimation and inference in relation to quantitative economic models.  Methods covered include Ordinary Lease Squares, Generalized Least Squares and Maximum Likelihood.  P–ECN 150 and MST 109 or 357, MST 113 and MST 121.  

 

216. Game Theory. (3h)
Introduction to mathematical models of social and strategic interactions. P—ECN 205 or 210 and MST 109.

 

NEW 217. EFFECTIVE FALL 2017. Market Design. (3h)

Theoretical analysis of the design of rules and algorithms to allocate scarce resources. Topics include matching markets, such as those for school choice, entry-level labor markets, and kidney exchanges; auctions with applications to the sale of natural resources, financial assets, and advertising; and online platforms. P-ECN 205 or 210

 

218. Advanced Topics in Mathematical Economics. (3h)

Advanced mathematical techniques such as dynamic programming or lattice theory, and the application of these techniques to optimization and equilibrium problems in various fields of economics; such as, growth theory, search theory, and auction theory.  P–ECN 210, ECN 211 and MST 111, MST 112.

NEW 219. EFFECTIVE FALL 2017. Behavioral Economics. (3h)

This course analyzes ways of decision-making that deviate from the standard economic understanding of rational decision-making. The main focus is on behaviors that fall under the umbrella of prospect theory. P-ECN 205 or 210.

 

221. Public Finance. (3h)
Examines the economic behavior of government. Includes principles of taxation, spending, borrowing, and debt management. P—ECN 209 or ECN 215; and ECN 205 or 210.

 

222. Monetary Theory and Policy. (3h)
An investigation of the nature of money, the macroeconomic significance of money, financial markets, and monetary policy. P–ECN 207 or 211.

 

223. Financial Markets. (3h)
A study of the functions, structure, and performance of financial markets. P–ECN 205 or 210 and ECN 207 or 211.

 

224. Law and Economics. (3h)
An economic analysis of property, contracts, torts, criminal behavior, due process, and law enforcement. P–ECN 205 or 210.

 

225. Public Choice. (3h)
Traditional tools of economic analysis are employed to explore such topics in political science as political organization, elections, coalition formation, the optimal provision of public goods, and the scope of government. P—ECN 205 or 210 and ECN 209 or ECN 215.

 

226. Theory of Social Choice (3h)
Development of Constitutional Economics in establishing rules for governmental and group decision-making by democratic means. Implications for various voting rules are considered in terms of both positive and normative criteria. P–ECN 205 or 210

 

231. Economics of Industry. (3h)

Analysis of the link between market structure and market performance in U.S. industries from theoretical and empirical viewpoints. Examines the efficiency of mergers, cartels, and other firm behaviors  Case studies include automobiles, steel, agriculture, computers, sports, and telecommunications. P–ECN 205 or 210.

 

232. Antitrust Economics. (1.5h,3h)
Analysis of the logic and effectiveness of public policies designed to promote competition in the United States.
P–ECN 205 or 210. 

 

NEW 233. EFFECTIVE FALL 2017. Economics in Sports. (3h)

Study of the design of sporting contests with particular attention paid to league governance decisions, measuring competitor productivity, and strategies used by competitors. P-ECN 205 or 210.

 

235.  Economics of Labor Markets.  (3h)
A theoretical and empirical survey of labor markets. Topics include: the demand and supply of labor, compensating wage differentials, education and training, discrimination, unions, public sector employment, earnings inequality, and unemployment. P–ECN 205 or 210.

 

236. Economics of Higher Education (3h)
Applies economic theory and data analysis in an investigation of important current issues in higher education.  Issues of prestige, admissions, financial aid, access, student and faculty quality, alumni giving and endowments, and externalities will be addressed.  P-ECN 205 or 210 and ECN 209 or ECN 215.

 

240. Economics of Health and Medicine (3h)
Applications of the methods of economic analysis to the study of the health and the health care industry. P-ECN 150 and an applied statistics class such as: ANT 380, BIO 380, BEM 201, HES 262, MST 109, PSY 311, or SOC 371, or POI.  Offered fall semester only.

 

241. Natural Resource Economics (3h)
Develops the economic theory of natural resource markets and explores public policy issues in natural resources and the environment. P—ECN 150.

 

251. International Trade. (3h)
Development of the theory of international trade patterns and prices and the effects of trade restrictions such as tariffs and quotas. P–ECN 205 or 210.

 

252. International Finance. (3h)
The study of the open macro economy, with a particular focus on the foreign exchange market and the history of the international monetary system. P–ECN 205 or 210 and ECN 207 or 211.
 
258. Economic Growth and Development. (3h)

A study of the problems of economic growth, with particular attention to the less developed countries of the world. P–ECN 205 or 210 or POI.

 

260. The Chicago School of Economics. (3h)

Study of microeconomic and macroeconomic theory through the writings of economists at the University of Chicago in the forty years following World War II.  Chicago economists include Milton Friedman, George Stigler, Gary Becker, Ronald Coase and others. P-ECN 205 or 210 and 207 or 211.

261. American Economic Development. (3h)
The application of economic theory to historical problems and issues in the American economy. P–ECN 150.

 

262. History of Economic Thought. (3h)
A historical survey of the main developments in economic thought from the Biblical period to the twentieth century. P–ECN 205 or 210 and ECN 207 or 211.

 

265. Economic Philosophers. (1.5h,3h)
An in-depth study of the doctrines and influence of up to three major figures in economics, such as Smith, Marx, and Keynes. P–ECN 205 or 210 and ECN 207 or 211.

 

266. Economics of Entrepreneurship. (3h)

An examination of the economic constraints and opportunities facing entrepreneurs and their impacts on the economy. Blends economic theory with an empirical investigation of the lives and actions of entrepreneurs in the past and the present. P–ECN 150. Also listed as ESE 371.

 

270. Current Economic Issues. (1.5h,3h)

Examines current economic issues using economic theory and empirical evidence. Topics may include recent macroeconomic trends, the distribution of income, minimum wages, immigration, Social Security, war, global climate change, trade, regulation and deregulation, antitrust policy, health care, labor unions, tax reform, educational reform, and others.
P–ECN 150. 

 

271. Selected Areas in Economics. (1h,1.5h,3h)
Survey of an important area in economics not included in the regular course offerings. The economics of housing, education, or technology are examples. Students should consult the instructor to ascertain topic before enrolling. P–ECN 150.

 

272. Selected Areas in Economics. (1h,1.5h,3h)

Surveys an important area in economics not included in the regular course offerings. The economics of housing, education or technology are examples. Students should consult the instructor to ascertain topic before enrolling. P–ECN 205 or ECN 210 and 207 or ECN 211.

 

274. Topics in Macroeconomics. (3h)
Considers significant issues and debates in macroeconomic theory and policy. Examples might include a New Classical-New Keynesian debate, currency crises, conversion of federal deficit to surplus, competing models of economic growth, alternative monetary and fiscal policy targets. P–ECN 207 or 211.

 

NEW 275, EFFECTIVE FALL 2017. Macroeconomic Models. (3h)

Development of formal macroeconomic models of both Keynesian and classical types. Involves exploration of comparative statics, dynamic analysis and policy assessment. P-ECN 210. C-MST 113 and MST 121.

 

290. Individual Study. (1.5h, 3h)
Directed readings in a specialized area of economics. P–POI.

 

292. College Fed Challenge. (1.5h)
This course prepares students to compete in the annual College Fed Challenge competition.  Students discuss the state of macroeconomics, with a particular focus on monetary policy.  For the competition-which takes place in the fall-students will give a presentation displaying their knowledge of the current state of the economy and advocating the policy actions that they think should be taken by the Federal Open Market Committee.  The 1.5 hours of academic credit are awarded in the fall semester, but to qualify students must have been active members of the Fed Challenge team in the preceding spring (a commitment of one hour per week). Pass/Fail only.  P-POI.
297. Preparing for Economic Research. (1.5h)

Designed to assist students in selecting a research topic and beginning a research project on the selected topic. P- ECN 209 or 215 and POI.

298. Economic Research. (1.5h)
Completion of a senior research project. Required of candidates for departmental honors. P–ECN 297 and permission of department.

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