Economics Course Descriptions

100 Introduction to Economics (SI)

Survey of microeconomic and macroeconomic principles. Includes analysis of individual and public sector behavior in product and resource markets and surveys applied areas. Also explores the performance of the entire economy with an emphasis on economic growth, employment and inflation. Offered each semester.

227 Statistics for Business and Economics

An introduction to the use of statistics. Topics include summary statistics, introductory probability, estimation, hypothesis testing, regression, and time series analysis. Students may not receive credit toward graduation for both this course (required for the major) and Sociology 227 or Psychology 227. Offered each semester.

230 Seminar on Applied Research in Labor Economics

A practical introduction to the process of doing empirical research in labor economics. Seminar participants select a research topic, review related literature, develop an empirical model, and test hypotheses. The end result of the guided research project is an original research paper that is presented to seminar particpants. Prerequisites: ECON 100 and ECON 227. Offered each May Term.

240 Game Theory Goes to the Movies

Game theory is the science of strategic thinking. Through films, readings and discussion students are introduced to basic tools which will help them develop an understanding of the decisions made by individuals in interactive situations. Topics addressed include sequential rationality, the prisoner’s dilemma, credible commitment, brinkmanship, bargaining and voting. Prerequisite: 100. Offered occasionally in May Term.

270 Special Topic

Specialized applications of economic theory. May be taken for credit more than once if the topics differ. Prerequisite: 100. Offered occasionally.

301 Intermediate Microeconomics

Neoclassical analysis of the behavior of households and firms, the determination of prices, and the allocation of resources in a market economy. Prerequisite: 100. Offered each semester.

302 Intermediate Macroeconomics

Analysis of the overall performance of an economy with emphasis on the effects of monetary and fiscal policy. Topics include unemployment, inflation, long-run economic growth and business cycle stabilization. Prerequisite: 100. Offered each semester.

311 Money and Banking

Analysis of the pricing of bonds and financial derivatives, banking theory and operation, monetary theory, and the role of banks in the economy at the national and international level. Includes the study of public policy related to bank activity and to economic stability. Prerequisite: 100. Offered each fall.

314 Industrial Organization and Public Policy

Study of markets dominated by a few large firms. Examines firms’ strategic behavior and market performance related to pricing, profitability, advertising, innovation, and predatory conduct. Prerequisite: 100.

321 Applied Financial Economics

Financial Economics studies the transfer of resources across time and the transfer of risk among individuals and organizations. The economic principles underlying the value of basic financial instruments are studied through an applied analysis of financial data. Topics include the pricing of stocks and bonds, foreign currency, as well as derivative securities. Prerequisite: ECON 100. Offered each spring.

324 Public Finance (SI)

The application of microeconomics to government budget policy. A variety of government spending and tax policies are analyzed for their impacts on individuals and society, and evaluated for their fairness and efficiency. Prerequisite: 100.

325 History of Economic Thought

Study of the development of main-stream and dissident economic thought from 17th century Mercantilism through Keynes. Prerequisite: 100. Offered occasionally.

328 Applied Econometrics (W)

Methods for quantitative research in economics. Topics include the formulation of an empirical model; estimation and hypothesis testing; and violations of the classical regression model. Prerequisites: 100 and 227. Previous 300-level coursework in economics recommended. Offered each spring.

329 Labor Economics

A study of economic aspects of labor markets. Topics include labor demand and supply, investments in education and training, labor market discrimination, unemployment, and labor unions. Prerequisite: 100.

338 Time Series Analysis

Methods for quantitative research in economics. Topics include data compilation and management; stochastic processes; stationarity; trends and de-trending; testing for unit roots; least squares estimation of time series models; and basic estimation of cointegrated vectors. Prerequisites: ECON 100 and ECON 227. Offered each spring.

340 Environmental and Natural Resource Economics

The application of microeconomics to issues of the environment and natural resource use. Economic institutions are examined for their effects on the use of renewable and non-renewable resources. The economic causes of pollution and the available policy responses are explored. Prerequisite: 100. 15

351 International Trade

The economic factors that induce countries to engage in international trade are examined, along with the various challenges facing the international trading system. Gains from trade, comparative advantage, international factor movements, and trade policy are among the principal topics addressed. International Trade and International Finance are the core courses in international economics. They can be taken in either order. Prerequisite: 100.

352 International Finance

Examines exchange rate mechanisms, international financial markets, balance of payments accounts, and open economy macroeconomics. Current challenges facing the international financial system are explored and policy options considered. International Trade and International Finance are the core courses in international economics. They can be taken in either order. Prerequisite: 100. Offered each spring.

355 Economics of Developing Countries (G)

An introduction to economic analysis for developing countries. Major topics will include: what the process of “development” entails, growth models, the role of the agricultural sector, industrial strategies, and others. In addition, a study of the present economic situation of a developing country will be required. Prerequisite: 100.

370 Special Topics

Specialized applications of economic theory. May be taken for credit more than once if the topics differ. Prerequisite: 100. Offered occasionally.

401 Senior Project (W)

A capstone seminar designed for senior economics majors. Requires completion of research on a topic chosen by the student with the consent of the instructor. The course gives students the opportunity to draw on tools developed in the economics program to produce a research paper, and present the results to seminar participants. Prerequisite: senior economics major, or consent. Offered each fall.

410 Mathematical Economics

The application of mathematical tools to economic theory. Topics include optimization of multivariate functions and comparative static analysis applied to consumer and firm behavior. Prerequisites: 301 and one semester of calculus. Offered in alternate years.

450 Independent Study

Advanced individualized study. Prerequisite: consent of the instructor. Offered as needed.

490 Advanced Research Seminar

Advanced research methods. Participants complete quality undergraduate research projects under the supervision of the seminar instructor and their faculty committees, and share their work both with each other and with a broader audience. Prerequisites: senior class standing, major or minor in economics, and acceptance into the University’s Research Honors Program or consent of the department chair. Offered each spring.