Economics

Economics
https://economics.rice.edu/
266 Baker Building
713-348-3563

Ken Wolpin
Department Chair
Kenneth.I.Wolpin@rice.edu

Hülya Eraslan
Director of Doctoral Studies
eraslan@rice.edu

George Zodrow
Director of Undergraduate Studies
zodrow@rice.edu

Kenneth Medlock III
Director of MEEcon Program
medlock@rice.edu

Peter Hartley
Co-Director of MEEcon Program
hartley@rice.edu

Students will learn the basic principles of microeconomics, macroeconomics, and econometrics, and how to apply those principles in studying economics phenomena and analyzing public policy issues. 

Undergraduates may major in economics or mathematical economic analysis (but not both). The major in mathematical economic analysis is recommended for students who intend to pursue graduate work in economics or a business or governmental job in which extensive analytical and quantitative skills are required. 

Master of Energy Economics (MEEcon) students will be able to produce insightful analyses of energy markets to inform such things as capital asset decisions, firm strategic direction, and future market orientation. 

The PhD program in economics equips students with the theoretical and empirical skills essential to entering research careers in academia, business and government. 

Master's Programs

Doctoral Programs

Chair

Kenneth Wolpin

Professors

Kerry Back
Richard Boylan
Bryan W. Brown
James N. Brown
Flavio Cunha
Mahmoud El-Gamal
Hulya Eraslan
Peter Hartley
Vivian Ho
Antonio Merlo
Ted Loch-Temzelides
Isabelle Perrigne
Robin C. Sickles
Xun Tang
George R. Zodrow

Associate Professors

Marc Peter Dudey
Jeremy Fox

Assistant Professors

Rosella Calvi
Yinghua He
Yunmi Kong
Mallesh Pai
Natalia Sizova

Professors Emeriti

Dagobert L. Brito
John B. Bryant
Donald L. Huddle
Peter Mieszkowski
Ronald Soligo

Lecturers

Maria Bejan
Michele Biavati
Amelie Carlton
James DeNicco

Adjunct Professors

Bruce M. Lairson
John Michael Swint

Adjunct Associate Professors

Charles E. Begley
Russell Green

Adjunct Assistant Professors

John Diamond
Kenneth Medlock

For Rice University degree-granting programs:
To view the list of official course offerings, please see Rice’s Course Catalog
To view the most recent semester’s course schedule, please see Rice's Course Schedule

Economics (ECON)

ECON 100 - PRINCIPLES OF ECONOMICS

Short Title: PRINCIPLES OF ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Description: Introduction to the basic concepts of microeconomics and macroeconomics. Microeconomics component includes analysis of supply and demand, consumer and producer behavior, and competitive and noncompetitive market equilibria, with applications to current policy issues. Macroeconomics component provides an overview of the determination of national output, employment, interest rates, and inflation, and analyzes monetary fiscal policies and international trade. Designed for both non-majors and majors. Mutually Exclusive: Credit cannot be earned for ECON 100 and ECON 201/ECON 211.

ECON 101 - INTRODUCTION TO MICROECONOMICS

Short Title: INTRODUCTION TO MICROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Description: Introduction to microeconomic analysis at a level suitable for non-majors. Applies only for transfer credit and requires departmental approval. Approved credit counts toward total credit hours required for graduation and for distribution, but does not count toward the ECON or MTEC majors. Students may not receive credit for ECON 101 if credit for ECON 201/211 has already been awarded. Mutually Exclusive: Credit cannot be earned for ECON 101 and ECON 201/ECON 211.

ECON 103 - INTRODUCTION TO MACROECONOMICS

Short Title: INTRODUCTION TO MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Description: Introduction to macroeconomic analysis at a level suitable for non-majors. Applies only for transfer credit and requires departmental approval. Approved credit counts toward total credit hours required for graduation and for distribution, but does not count toward the ECON or MTEC majors. Students may not receive credit for ECON 103 if credit for ECON 212 has already been awarded. Mutually Exclusive: Credit cannot be earned for ECON 103 and ECON 112/ECON 113.

ECON 111 - AP/OTH CREDIT IN MICROECONOMICS

Short Title: AP/OTH CREDIT MICROECONOMICS

Department: Economics

Grade Mode: Transfer Courses

Course Type: Transfer

Credit Hours: 1-6

Course Level: Undergraduate Lower-Level

Description: Provides transfer credit based on student performance on approved examinations in microeconomics, such as the Advanced Placement microeconomics exam or the International Baccalaureate higher-level economics exams, or for an approved introductory microeconomics course. Approved credit counts toward total credit hours required for graduation, but does not count for distribution or toward the ECON or MTEC majors. Students may not receive credit for ECON 111 if credit for ECON 201/211 has already been awarded. Mutually Exclusive: Credit cannot be earned for ECON 111 and ECON 201/ECON 211.

ECON 113 - AP/OTH CREDIT IN MACROECONOMICS

Short Title: AP/OTH CREDIT MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Transfer

Credit Hours: 1-6

Course Level: Undergraduate Lower-Level

Description: Provides transfer credit based on student performance on approved examinations in macroeconomics, such as the Advanced Placement macroeconomics exam or the International Baccalaureate higher-level economics exams, or for an approved introductory macroeconomics course. Approved credit counts toward total credit hours required for graduation, but does not count for distribution or toward the ECON or MTEC majors. Students may not receive credit for ECON 113 if credit for 212 has already been awarded. Mutually Exclusive: Credit cannot be earned for ECON 113 and ECON 103/ECON 212.

ECON 200 - MICROECONOMICS

Short Title: MICROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Distribution Group: Distribution Group II

Credit Hours: 4

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Prerequisite(s): (ECON 100 or ECON 201 or ECON 211) and MATH 102 (may be taken concurrently)

Description: Intermediate level analysis of theories of household behavior, including demand for consumer goods, labor supply, and savings/investment decisions, and producer behavior including the supply of output and demands for labor, capital and other production inputs. Emphasizes individual and interactive decision making under resource constraints. Analyzes equilibria in competitive and noncompetitive markets, and discusses topics in welfare economics. MATH 102 may be taken concurrently with ECON 200. Mutually Exclusive: Credit cannot be earned for ECON 200 and ECON 301.

ECON 203 - MACROECONOMICS

Short Title: MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Prerequisite(s): ECON 200 or ECON 301 or ECON 370

Description: Analyzes aggregate performance of the national economy including output, inflation, interest rates, employment, the business cycle, monetary and fiscal policy, and more generally the appropriate role of government in influencing aggregate economic performance. Introduces both the traditional aggregative only approach to Macroeconomics and the more recent New Classical and New Keynesian micro-foundations approaches. Mutually Exclusive: Credit cannot be earned for ECON 203 and ECON 303.

ECON 209 - APPLIED ECONOMETRICS

Short Title: APPLIED ECONOMETRICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Distribution Group: Distribution Group II

Credit Hours: 4

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Prerequisite(s): (ECON 200 or ECON 301 or ECON 370) and (ECON 307 or ECON 382 or STAT 310)

Description: Applied econometric methods: econometric theory with practical emphasis on modeling, estimation, and hypothesis testing. A computer lab one day a week focuses on empirical implementation of econometric methods using STATA software. Credit may be given for only one of ECON 309 or ECON 209. Mutually Exclusive: Credit cannot be earned for ECON 209 and ECON 309/ECON 446.

ECON 210 - BEHAVIORAL ECONOMICS

Short Title: BEHAVIORAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Prerequisite(s): ECON 100 or ECON 201 or ECON 211

Description: Examines behavioral economics, which seeks to insert more behavioral realism into economic theory by incorporating into economic models insights based on empirical observations from psychology, sociology, and neuroscience. Emphasizes attempts by behavioral economists to explain anomalies that depart from the predications of standard economic theory. Topics include temptation and self-control, fairness and reciprocity, reference dependence, bounded rationality and choice under risk and uncertainty.

ECON 239 - LAW AND ECONOMICS

Short Title: LAW AND ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Prerequisite(s): ECON 100 or ECON 201 or ECON 211

Description: Exploration of the law using economic tools based on microeconomic theory. Focuses on legal issues most applicable to business. Mutually Exclusive: Credit cannot be earned for ECON 239 and ECON 438.

ECON 260 - MICROECONOMICS AND PUBLIC POLICY

Short Title: MICROECONOMICS & PUBLIC POLICY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Prerequisite(s): ECON 100 or ECON 201

Description: Applies insights learned from the microeconomic component of ECON 100 to the analysis of public policy issues, stressing economic intuition rather than mathematical formulations. Designed for students who do not wish to major in ECON or MTEC, and does not apply toward ECON or MTEC major requirements.

ECON 265 - MICROECONOMICS AND PUBLIC POLICY TOWARDS BUSINESS

Short Title: MICRO & PUBLIC POLICY/BUSINESS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Prerequisite(s): ECON 100 or ECON 201

Description: Applies insights learned from the microeconomic component of ECON 100 to the analysis of issues related to public policy toward business, stressing economic intuition rather than mathematical formulations. Designed for students who do not wish to major in ECON or MTEC, and does not apply toward ECON or MTEC major requirements.

ECON 270 - MACROECONOMICS AND PUBLIC POLICY

Short Title: MACROECONOMICS & PUBLIC POLICY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Prerequisite(s): ECON 100 or ECON 201

Description: Applies insights learned from the macroeconomic component of ECON 100 to the analysis of public policy issues, stressing economic intuition rather than mathematical formulations. Designed for students who do not wish to major in ECON or MTEC, and does not apply toward ECON or MTEC major requirements.

ECON 275 - INTERNATIONAL MACROECONOMICS AND PUBLIC POLICY

Short Title: INT MACRO & PUBLIC POLICY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Lower-Level

Prerequisite(s): ECON 100 or ECON 201

Description: Applies insights learned from the macroeconomic component of ECON 100 to the analysis of issues related to international public policy, stressing economic intuition rather than mathematical formulations. Designed for students who do not wish to major in ECON or MTEC, and does not apply toward ECON or MTEC major requirements.

ECON 300 - GAME THEORY AND OTHER MICRO TOPICS FOR ECON MAJORS

Short Title: GAME THEORY, MICRO TOPICS/ECON

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 200 or ECON 301 or ECON 370) and (ECON 307 or STAT 310)

Description: Advanced level analysis of topics in microeconomics designed for students in the ECON major. Topics include the foundations and applications of game theory, the economics of choice under uncertainty, and information economics including issues of asymmetric information. Additional topics may include auction theory, mechanism design and behavioral economics. Open to all majors other than MTEC. Mutually Exclusive: Credit cannot be earned for ECON 300 and ECON 205.

ECON 305 - GAME THEORY AND OTHER MICRO TOPICS FOR MTEC MAJORS

Short Title: GAME THEORY, MICRO TOPICS/MTEC

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 307 or STAT 310) and (ECON 308 or ECON 401 or ECON 477)

Description: Advanced level analysis of topics in microeconomics, focusing on mathematical modeling and designed for students in the MTEC major. Topics include the foundations and applications of game theory, general equilibrium theory and applications, the economics of choice under uncertainty, and information economics including issues of asymmetric information. Additional topics may include auction theory, mechanism design, and behavioral economics. Open to all majors. Mutually Exclusive: Credit cannot be earned for ECON 305 and ECON 405.

ECON 307 - PROBABILITY AND STATISTICS

Short Title: PROBABILITY & STATISTICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group III

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): MATH 102

Description: Probability and the central concepts and methods of statistics including probability, distributions of random variables, expectation, sampling distributions, estimation, confidence intervals, and hypothesis testing. Cross-list: STAT 310. Recommended Prerequisite(s): MATH 212.

Course URL: statistics.rice.edu/courses.cfm

ECON 308 - MATHEMATICAL ECONOMICS

Short Title: MATHEMATICAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 4

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 200 or ECON 301 or ECON 370) and (MATH 212 or MATH 221)

Description: Coverage of mathematical topics used in economics, such as linear algebra, optimization, and real analysis, with applications to fundamental topics in economic theory, constrained optimization, labor market dynamics, game theory and Leontief input-output model. Emphasizes logical clarity and mathematical rigor, along with the ability to follow and construct mathematical proofs. Credit may be earned for only one of the following courses: ECON 308 or ECON 401 or ECON 477. Mutually Exclusive: Credit cannot be earned for ECON 308 and ECON 401/ECON 477.

ECON 310 - ECONOMETRICS

Short Title: ECONOMETRICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 4

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 209 or ECON 309 or ECON 446) and (ECON 308 or ECON 401 or ECON 477)

Description: Survey of estimation and forecasting models. Includes multiple regression time series analysis. A good understanding of linear algebra is highly desirable. Cross-list: STAT 376. Mutually Exclusive: Credit cannot be earned for ECON 310 and ECON 409/STAT 400.

ECON 343 - CORPORATE FINANCE

Short Title: CORPORATE FINANCE

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 100 or ECON 201 or ECON 211) and (STAT 280 or STAT 305 or STAT 310 or ECON 307 or STAT 312 or POLI 395 or PSYC 339) and BUSI 305

Description: Corporate financial management including tools used to evaluate and select investment projects and the method of financing those investments. The influence of corporate control on investment decisions. The valuation of stocks, bonds and options using the time value of money, the trade-off between risk and return, and arbitrage. BUSI 343 and ECON 343 are Mutually Exclusive; therefore students may not receive credit for both courses. Recommended Prerequisite(s): ECON 200 or ECON 301 or ECON 370. Mutually Exclusive: Credit cannot be earned for ECON 343 and BUSI 343.

ECON 355 - FINANCIAL MARKETS

Short Title: FINANCIAL MARKETS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 200 or ECON 301 or ECON 370

Description: Principles governing U.S. and international equity and debt markets, and the interactions between such markets and national monetary and exchange rate policies. Focuses on the role of financial markets and institutions in the allocation and transfer of credit and risk, and examines various existing and suggested regulatory frameworks.

ECON 365 - WORLD ECONOMIC HISTORY

Short Title: WORLD ECONOMIC HISTORY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group I

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 100 or ECON 201 or ECON 211) and (ECON 200 or ECON 301 or ECON 370) and (ECON 203 or ECON 303 or ECON 375)

Description: Study and analysis of world economy focusing on the economic expansion of Western countries between the 14th and 21st centuries. Emphasis on contextual changes in economy, geography, history, society, culture, religion and politics in determining economic leadership of certain economies, such as Italy, Portugal, Spain, the United Kingdom, Belgium, the Netherlands, France, Germany, Sweden, the United States and Japan. Cross-list: HIST 365.

ECON 399 - INDEPENDENT RESEARCH

Short Title: INDEPENDENT RESEARCH

Department: Economics

Grade Mode: Standard Letter

Course Type: Research

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 100 or ECON 201 or ECON 211) or (ECON 200 or ECON 301 or ECON 370) and (ECON 203 or ECON 303 or ECON 375) and (ECON 209 or ECON 309 or ECON 446) and (ECON 300 or ECON 305 or ECON 405) and (ECON 307 or STAT 310) and MATH 101 or (MATH 111 or MATH 112) and MATH 102

Description: Independent research project under the supervision of a faculty member who must approve the topic, consult the department website under "Independent Research" for additional details. Students must have a GPA of 3.0 or higher in the prerequisite courses. Faculty advisors may require additional prerequisites. Instructor and department permission required. Not offered during the summer. Instructor Permission Required.

ECON 415 - LABOR ECONOMICS

Short Title: LABOR ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 200 or ECON 301 or ECON 370

Description: Empirical evidence and theories relating to several features of labor markets. Topics covered may include fertility, health, criminal behavior, labor force participation, hours of work, education and training, geographical and inter-firm labor mobility, static and dynamic labor demand, unions, discrimination, government intervention in labor markets, and "hedonic" equilibria in labor markets. Graduate/Undergraduate Equivalency: ECON 515. Mutually Exclusive: Credit cannot be earned for ECON 415 and ECON 515.

ECON 418 - ECONOMIC FORECASTING

Short Title: ECONOMIC FORECASTING

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 203 or ECON 303 or ECON 375) and (ECON 209 or ECON 309 or ECON 446)

Description: Application of econometric techniques to problems in macroeconomics and financial economics. The course focuses on macroeconomic forecasting and test of economic theories using stationary and non-stationary time-series data. Methods include predictive regressions, vector autoregressions, impulse response functions, and variance decomposition. Tests and comparisons of forecast accuracy are also included. Projects will be completed in STATA.

ECON 419 - ADVANCED TOPICS IN ECONOMETRICS

Short Title: ADV TOPICS IN ECONOMETRICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 310 or ECON 409 or ECON 400 or STAT 376 or STAT 400

Description: Introduction to advanced econometrics, with an emphasis on methods used in microeconomic applications. Methods covered are used in the estimation of the demand for goods and services, production functions, and for analyzing the impact of social programs.

ECON 420 - INTERNATIONAL TRADE

Short Title: INTERNATIONAL TRADE

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 203 or ECON 303 or ECON 375

Description: Studies the economic relationships between countries. This course explores the concept of comparative advantage, and it analyzes why countries trade. It includes trade theory, tariffs and other trade restrictions, trade and development, and current policy issues.

ECON 421 - INTERNATIONAL FINANCE

Short Title: INTERNATIONAL FINANCE

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 203 or ECON 303 or ECON 375

Description: Analysis of foreign exchange and international capital markets and linkages between exchange rates, interest rates, and prices, interest rates, and aggregate outputs, including international transmission of business cycles and economic growth. Includes an overview of historical and institutional developments, and current policy issues.

ECON 422 - INTERNATIONAL ECONOMICS AND FINANCE

Short Title: INTERNATIONAL ECON & FINANCE

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 200 or ECON 301 or ECON 370) and (ECON 203 or ECON 303 or ECON 375)

Description: Studies the economic relationships among countries. Explores the sources of comparative advantage and reasons for trade policies. Examines foreign exchange and international capital markets and linkages between exchange rates, interest rates, and prices. Includes trade theory, tariffs, and other trade restrictions, an overview of historical and institutional developments, and current policy issues.

ECON 432 - POLITICAL ECONOMY

Short Title: POLITICAL ECONOMY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 200 or ECON 301 or ECON 370) and (ECON 205 or ECON 300 (may be taken concurrently) or ECON 305 (may be taken concurrently) or ECON 405)

Description: Analyzes income redistribution, taxation, the production of public goods, and other actions of the public sector as determined by a political process simultaneously with the economic process of exchange and production. Investigates the connection between public policies and the political forces that shape them. ECON 300 or ECON 305 may be taken concurrently with ECON 432.

ECON 435 - INDUSTRIAL ORGANIZATION

Short Title: INDUSTRIAL ORGANIZATION

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 300 or ECON 305) and (ECON 209 or ECON 309 or ECON 310)

Description: Covers topics in industrial organization and market design, including oligopoly, mergers, demand, matching and auctions.

ECON 437 - ENERGY ECONOMICS

Short Title: ENERGY ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 200 or ECON 301 or ECON 370

Description: Discussion of key aspects in the supply and demand of energy. Topics include optimal extraction of depletable resources, transportation, storage, end-use and efficiency, and the relationship between economic activity, energy, and the environment. Cross-list: ENST 437. Graduate/Undergraduate Equivalency: ECON 601. Mutually Exclusive: Credit cannot be earned for ECON 437 and ECON 601.

ECON 439 - ADVANCED TOPICS IN LAW AND ECONOMICS

Short Title: ADV TOPICS IN LAW AND ECON

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 200 or ECON 301 or ECON 370

Description: Addresses the role of economics in understanding the legal system, in particular how the law allocates entitlements and risk in property, tort and contract law. Intended primarily for students who are considering attending law school and uses instruction methods appropriate for that goal.

ECON 441 - EMPIRICAL METHODS FOR INDUSTRIAL ORGANIZATION

Short Title: EMPIRICAL METHODS FOR IO

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 200 or ECON 209

Description: Covers empirical methods for the analysis of markets and industries.

ECON 443 - FINANCIAL ECONOMICS

Short Title: FINANCIAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 305 or ECON 405) and (ECON 307 or STAT 310 or ECON 382)

Description: Economic analysis of the operation of financial markets from a mathematical and theoretical perspective. Topics include asset pricing, risk management, portfolio theory, arbitrage theory, and market efficiency. Emphasizes the application of the financial concepts to decisions faced by households and firms.

ECON 445 - MANAGERIAL ECONOMICS

Short Title: MANAGERIAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 200 or ECON 301 or ECON 370

Description: Application of economics to the determination of the profitability of the firm. Includes organization theory and problems of control. A student may not receive credit for ECON 445 and ECON 245/POLI 245.

ECON 449 - PRINCIPLES OF FINANCIAL ENGINEERING

Short Title: FINANCIAL ENGINEERING

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 308 or MATH 211) and MATH 212 and (ECON 310 or ECON 400 or STAT 376 or STAT 400 or ECON 409)

Description: Covers the use of financial securities and derivatives to take or hedge financial risk positions, including most commonly used instruments, from simple forwards and futures to exotic options and swaptions. Studies the pricing of derivative securities with emphasis on the mechanics and uses of financial engineering methods. ECON 449 and STAT 449 are Mutually Exclusive, so students may not receive credit for both courses. Mutually Exclusive: Credit cannot be earned for ECON 449 and STAT 449.

ECON 450 - ECONOMIC DEVELOPMENT

Short Title: ECONOMIC DEVELOPMENT

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 200 or ECON 301 or ECON 370) and (ECON 203 or ECON 303 or ECON 375)

Description: This course covers different dimensions of economic development, focusing on poverty, inequality, demography, and health. It provides an overview of the economies of less developed countries, the lives of the poor, and the theories for why some countries are rich and others are poor. It also describes how labor and credit markets function in poor countries, the consequences for health and education, and the role of institutions.

ECON 452 - RELIGION, ETHICS, AND ECONOMICS

Short Title: RELIGION, ETHICS, & ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 200 or ECON 301 or ECON 370) and (STAT 310 or ECON 307)

Description: Review economic models of the demand, supply, and markets for religion, including the effects of economic conditions on religious choice and vice versa. Students will write term paper on topics of their choosing, subject to professor's approval. Recommended Prerequisite(s): ECON 209 or ECON 309 or ECON 446, or ECON 310 or STAT 376 or ECON 400 or STAT 400 or ECON 409.

ECON 455 - MONEY AND BANKING

Short Title: MONEY AND BANKING

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 203 or ECON 303 or ECON 375) and (ECON 200 or ECON 301 or ECON 370)

Description: Micro-foundations of monetary, fiscal and financial theory. Examines the unique roles of money and of banking in providing the transactions mechanism and in the functioning of financial markets. Explains the use of valued fiat, unbacked money which appears to violate basic microeconomics, in the context of Samuelson's overlapping generations model, including the implications for monetary and fiscal policy and for inflation. Discusses bank runs and financial instability.

ECON 460 - ADVANCED TOPICS IN ECONOMIC DEVELOPMENT

Short Title: ADV TOPICS ECON DEVELOPMENT

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 200 or ECON 301 or ECON 370

Description: Focuses on role of taxation, finance and international trade, foreign investment and foreign aid in economic development.

ECON 462 - ECONOMICS OF HUMAN CAPITAL

Short Title: ECONOMICS OF HUMAN CAPITAL

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 4

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 200 or ECON 301 or ECON 370) and (ECON 209 or ECON 309 or ECON 446)

Description: This course covers theory that describes the central role of human capital in determining economic growth and inequality, uses advanced econometric techniques to test if the theory is consistent with data, and presents insights for public policy that can improve human capital formation, increase economic growth and reduce social inequality.

ECON 470 - MARKET DESIGN

Short Title: MARKET DESIGN

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 200 or ECON 301 or ECON 370) and (ECON 307 or STAT 310)

Description: Regulators, entrepreneurs and economists have recently been involved in the design of novel markets for radio spectrum, kidneys, on-line advertising, school choice, etc. This course utilizes game theory to provide the theoretical underpinning of such markets via real world examples, including the study of institutional details that can determine the success or failure of a market.

ECON 479 - ECONOMIC MODELING AND PUBLIC POLICY

Short Title: ECONOMIC MODLG & PUBLIC POLICY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 200 or ECON 301 or ECON 370

Description: Examines the use of computable general equilibrium (CGE) models to analyze the economic effects of public policy reforms. Reviews theoretical aspects of general equilibrium modeling, introduces computational methods, constructs some basic CGE models, and shows how the models are used to analyze the efficiency, distributional, and transitional effects of various policy reforms. Federal tax reform in the U.S. is the primary policy application; other issues examined may include Social Security, environmental policy, and international trade.

ECON 480 - ENVIRONMENTAL ECONOMICS

Short Title: ENVIRONMENTAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 200 or ECON 301 or ECON 370

Description: Uses economic theories of externalities and common property resources to analyze how markets, legal institutions, regulations, taxes and subsidies, and voluntary activity can affect the supply of environmental amenities, such as clean air, clean water, and wilderness areas. Also discusses methods for determining the demand for environmental amenities. Cross-list: ENST 480.

ECON 481 - HEALTH ECONOMICS

Short Title: HEALTH ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 209 or ECON 309 or ECON 446 or ECON 310 or ECON 400 or STAT 400 or ECON 409 or STAT 376

Description: Study of determinants of health, including behavioral, economic and social factors and access to health care. Application of economics to understand health insurance, the hospital and physician markets, pharmaceuticals, and the health care system. Effects of regulation and methods of payment. Graduate/Undergraduate Equivalency: ECON 565. Mutually Exclusive: Credit cannot be earned for ECON 481 and ECON 565.

ECON 483 - PUBLIC FINANCE

Short Title: PUBLIC FINANCE

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 200 or ECON 301 or ECON 370

Description: Provides an economic analysis of tax policy, focusing on the current national debate regarding the relative merits of income and consumption-based taxes in terms of equity, efficiency, and simplicity. Analyzes tax effects on individual and business behavior and discusses general equilibrium modeling of the economic and distributional effects of alternative tax reforms. Special topics include optimal taxation, taxation of the family, estate taxation, taxation of electronic commerce, and state and local public finance.

ECON 484 - PUBLIC ECONOMICS

Short Title: PUBLIC ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 200 or ECON 301 or ECON 370) and MATH 212

Description: Theory and evidence on government expenditure policy. Topics include the theory of public goods, education; state and local public goods; redistribution and welfare policy; cost-benefit analysis; social insurance programs such as social security and unemployment insurance; and health care policy.

ECON 489 - ECONOMICS OF SOCIAL NETWORKS

Short Title: ECONOMICS OF SOCIAL NETWORKS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 200 and ECON 209

Description: This course introduces research on social networks and analyzes how these networks affect our choices: the products we buy, the careers we follow, whom we marry, how we raise our children. Students will learn about network measurement and formation and the influence of social networks on our decisions.

ECON 496 - RESEARCH IN ECONOMIC THEORY

Short Title: RESEARCH IN ECONOMIC THEORY

Department: Economics

Grade Mode: Standard Letter

Course Type: Research

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 203 or ECON 303 or ECON 375) and (ECON 310 or STAT 376 or ECON 400 or STAT 400 or ECON 409) and (ECON 305 or ECON 405)

Description: Capstone course for MTEC majors whose primary interest is in economic theory. Review and analysis of seminal and current research in economic theory, including independent analysis by the student. Topics vary from year to year. (Note: In 2015-2016, pre-requisite of ECON 305/405 may be waived or required as a co-requisite; see instructor.)

ECON 497 - RESEARCH IN ECONOMETRICS

Short Title: RESEARCH IN ECONOMETRICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Research

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 203 or ECON 303 or ECON 375) and (ECON 310 or STAT 376 or ECON 400 or STAT 400 or ECON 409) and (ECON 305 or ECON 405)

Description: Capstone course for MTEC majors whose primary interest is in econometrics. Review and analysis of seminal and current research in econometrics, including independent analysis by the student. Topics vary from year to year. (Note: In 2015-2016, pre-requisite of ECON 305/405 may be waived or required as a co-requisite; see instructor.)

ECON 498 - HONORS PROGRAM IN ECONOMICS-I

Short Title: HONORS PROGRAM IN ECONOMICS-I

Department: Economics

Grade Mode: Standard Letter

Course Type: Research

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): (ECON 203 or ECON 303 or ECON 375) and (ECON 209 or ECON 310) and (ECON 300 or ECON 305 or ECON 405)

Description: Research workshop open to ECON and MTEC majors. GPA of at least 3.67 in all ECON courses and all courses required for major, and must have taken all ECON courses directly related to the topic of their research. Students develop a research idea, construct an economic model with testable hypotheses, test those hypotheses, and write and present in the workshop an academic quality paper. Econometrics pre-requisite is ECON 209 for ECON majors and ECON 310 for MTEC majors. Instructor may impose additional prerequisites. (In 2015-2016, prerequisite of ECON 300/305/405 may be waived or required as a co-requisite, see instructor.) Instructor Permission Required.

ECON 499 - HONORS PROGRAM IN ECONOMICS-II

Short Title: HONORS PROGRAM IN ECONOMICS-II

Department: Economics

Grade Mode: Standard Letter

Course Type: Research

Credit Hours: 3

Restrictions: Graduate level students may not enroll.

Course Level: Undergraduate Upper-Level

Prerequisite(s): ECON 498

Description: Continuation of ECON 498. University credit only. Instructor Permission Required.

ECON 501 - MICROECONOMICS I

Short Title: MICROECONOMICS I

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Consumer theory including choice under certainty, producer theory, partial and general equilibrium analysis.

ECON 502 - MACROECONOMICS

Short Title: MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Intertemporal general equilibrium models, dynamic programming, search theory, monetary models.

ECON 504 - COMPUTATIONAL ECONOMICS

Short Title: COMPUTATIONAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: This course covers numerical methods most commonly used in Economics, including solving systems of equations, numerical optimization, stochastic dynamic programming, numerical differentiation and integration, monte caro methods, and solving ordinary and partial differential equations. Cross-list: STAT 604.

ECON 505 - FINANCIAL ECONOMICS I

Short Title: FINANCIAL ECONOMICS I

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Prerequisite(s): ECON 501 and ECON 502

Description: Introduction at the graduate level to asset pricing and portfolio choice theory. Covers single-period and dynamic models, including pricing by arbitrage, mean-variance analysis, factor models, dynamic programming, recursive utility, and an introduction to continuous-time finance. Cross-list: BUSI 521.

ECON 507 - MATHEMATICAL ECONOMICS I

Short Title: MATHEMATICAL ECONOMICS I

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: The purpose of this course is to provide the first-year PhD students in Economics with the essential mathematical tools. The course covers topics in real analysis, topology, linear algebra, etc. Aside from providing the mathematical tools, a primary aim of this course is to develop the level of mathematical sophistication necessary to conduct research in modern economics. The course will therefore emphasize logical clarity and mathematical rigor, along with the ability to follow and construct mathematical proofs.

ECON 508 - MICROECONOMICS II

Short Title: MICROECONOMICS II

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 5

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Prerequisite(s): ECON 501 and MATH 321

Description: Game theory, imperfect competition, information economics, voting and social choice, mechanism design.

ECON 509 - TOPICS IN MICROECONOMICS

Short Title: TOPICS IN MICROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Prerequisite(s): ECON 508

Description: Discussion of selected topics of current interest. Varies year to year. Repeatable for Credit.

ECON 510 - ECONOMETRICS I

Short Title: ECONOMETRICS I

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Estimation and inference in single equation regression models, multicollinearity, autocorrelated and heteroskedastic disturbances, distributed lags, asymptotic theory, and maximum likelihood techniques. Emphasis is placed on the ability to analyze critically the literature. Cross-list: STAT 610.

ECON 511 - ECONOMETRICS II

Short Title: ECONOMETRICS II

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Topics in linear and nonlinear simultaneous equations estimation, including panel data, qualitative and categorical dependent variable models, duration analysis, simulation based estimation, treatment effects, stochastic production frontier estimation. Cross-list: STAT 611.

ECON 512 - INTERNATIONAL TRADE THEORY

Short Title: INTERNATIONAL TRADE THEORY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 3

Restrictions: Enrollment limited to students with a class of Graduate. Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Exploration of classical, neoclassical, and modern trade theory. Includes welfare aspects of trade such as the theory of commercial policy, with emphasis on applications.

ECON 514 - INDUSTRIAL ORGANIZATION AND CONTROL

Short Title: INDUST'L ORGANIZATION&CONTROL

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Core topics include monopoly, price discrimination, vertical control, short-run price competition, dynamic price competition and tacit collusion, price and non-price competition with differentiated products, entry barriers, information and strategic behavior (e.g. limit pricing, auctions), and research and development.

ECON 515 - LABOR ECONOMICS

Short Title: LABOR ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Graduate-level analysis of empirical evidence and theories relating to several features of labor markets. Topics covered may include fertility, health, criminal behavior, labor force participation, hours of work, education and training, geographical and inter-firm labor mobility, static and dynamic labor demand, unions, discrimination, government intervention in labor markets, and “hedonic” equilibria in labor markets. Graduate/Undergraduate Equivalency: ECON 415. Mutually Exclusive: Credit cannot be earned for ECON 515 and ECON 415.

ECON 516 - EMPIRICAL MICROECONOMICS

Short Title: EMPIRICAL MICROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Prerequisite(s): ECON 508

Description: Overview of methods used in empirical microeconomic research. Examples are drawn from health economics, law and economics, and business economics. Emphasis is placed on designing econometric and statistical analyses to test economic hypotheses. Class projects will expand on analyses from previously published studies.

ECON 517 - EMPIRICAL INDUSTRIAL ORGANIZATION

Short Title: EMPIRICAL INDUSTRIAL ORG

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Prerequisite(s): ECON 508 and ECON 510

Description: This field course aims to expose students to recent developments in the empirical structural analysis of data in industrial organization. Topics include demand, games and dynamics.

ECON 518 - INTERNATIONAL MACROECONOMICS

Short Title: INTERNATIONAL MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 3

Restrictions: Enrollment limited to students with a class of Graduate. Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Effects of fiscal and monetary policies on exchange rates and the current account and balance of payments. Includes exchange market efficiency, exchange rates and prices, LDC debt, and policy coordination.

ECON 519 - ECONOMIC GROWTH AND DEVELOPMENT

Short Title: ECONOMIC GROWTH &DEVELOPMENT

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment limited to students with a class of Graduate. Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Analysis of theory and policy questions relating to the level and rate of economic development.

ECON 522 - PUBLIC ECONOMICS: TAX POLICY

Short Title: PUBLIC ECONOMICS: TAX POLICY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Study of the effects of taxation on individual and firm behavior, general equilibrium tax incidence analysis, optimal taxation theory, optimal implementation of tax reform, analysis of comprehensive income, and consumption taxes.

ECON 523 - DYNAMIC OPTIMIZATION

Short Title: DYNAMIC OPTIMIZATION

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Study of dynamic optimization in discrete and continuous time, including numerical methods and applications to macroeconomics, finance and resource and energy economics.

ECON 547 - ADVANCED TOPICS IN ENERGY ECONOMICS

Short Title: ADV TOPICS IN ENERGY ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Prerequisite(s): (ECON 301 or ECON 370) and (ECON 309 or ECON 446 or ECON 409 or ECON 400 or STAT 400) and ECON 437

Description: A detailed development and analysis of topics in energy modeling. Topics include optimal extraction of depletable resources, models of storable energy commodities, energy demand by end-use sector, models of non-competitive behavior, energy security and the relationship between energy and commodity prices. ECON 547 requires an additional assignment in addition to the assignments of ECON 447. Recommended Prerequisite(s): ECON 477 or ECON 401. Mutually Exclusive: Credit cannot be earned for ECON 547 and ECON 447/ECON 604.

ECON 565 - HEALTH ECONOMICS

Short Title: HEALTH ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 3

Restrictions: Enrollment limited to students with a class of Graduate. Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Study of economic aspects of health. Includes production, cost, demand and supply factors; methods of payment and effects of regulation. Graduate/Undergraduate Equivalency: ECON 481. Mutually Exclusive: Credit cannot be earned for ECON 565 and ECON 481.

ECON 575 - TOPICS IN FINANCIAL ECONOMICS

Short Title: TOPICS IN FINANCIAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Prerequisite(s): ECON 505

Description: Topics in asset pricing, corporate financial theory, and market microstructure, including asymmetric information, learning, heterogeneous priors, market frictions, nonstandard preferences, production models, q theory, real options, dynamic capital structure, quote-driven markets, order-driven markets, and dealer markets. Repeatable for Credit.

ECON 576 - TOPICS IN MACROECONOMICS

Short Title: TOPICS IN MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Seminar

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Discussion topics in macroeconomics. Repeatable for Credit.

ECON 577 - TOPICS IN ECONOMIC THEORY I

Short Title: TOPICS IN ECONOMIC THEORY I

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Discussion of topics in advanced economic theory. Repeatable for Credit.

ECON 578 - TOPICS IN ECONOMETRICS I

Short Title: TOPICS IN ECONOMETRICS I

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 3

Restrictions: Enrollment limited to students with a class of Graduate. Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Discussion of selected topics in advanced econometrics. Repeatable for Credit.

ECON 579 - TOPICS IN ECONOMETRICS II

Short Title: TOPICS IN ECONOMETRICS II

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Prerequisite(s): ECON 511

Description: Discussion of selected topics in advanced econometrics. Repeatable for Credit.

ECON 592 - TOPICS IN POLICY AND APPLIED ECONOMICS

Short Title: TOP-POLICY&APPL'D ECON

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Discussion of selected topics and applied economics. Repeatable for Credit.

ECON 593 - WORKSHOP IN MICROECONOMICS

Short Title: WORKSHOP IN ECONOMICS

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Course Type: Seminar

Credit Hour: 1

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Seminars on advanced topics in macroeconomics, microeconomics, econometrics and applied microeconomic theory, presented through guest lectures by leading researchers. Repeatable for Credit.

ECON 594 - WORKSHOP IN ECONOMICS I

Short Title: WORKSHOP IN ECONOMICS I

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Course Type: Seminar

Credit Hour: 1

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Continuation of ECON 593. Repeatable for Credit.

ECON 596 - RESEARCH SEMINAR

Short Title: RESEARCH SEMINAR

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Course Type: Seminar

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Research presentations by graduate students. Students are expected to attend class when not presenting their work. Repeatable for Credit.

ECON 597 - READINGS IN ADVANCED TOPICS

Short Title: READINGS IN ADVANCED TOPICS

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Course Type: Independent Study

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Repeatable for Credit.

ECON 598 - READINGS IN ADVANCED TOPICS

Short Title: READINGS IN ADVANCED TOPICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Independent Study

Credit Hours: 3

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Repeatable for Credit.

ECON 601 - ENERGY ECONOMICS I

Short Title: ENERGY ECONOMICS I

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Introduces the energy sector to students, discusses key aspects of energy supply, demand and pricing, and is foundational for the MEECON degree. Topics include optimal extraction of depletable resources, trade of energy commodities, storage, end-use demand and energy efficiency, and the relationship between economic activity, energy and the environment. Graduate/Undergraduate Equivalency: ECON 437. Mutually Exclusive: Credit cannot be earned for ECON 601 and ECON 437.

ECON 602 - MICROECONOMICS OF THE ENERGY SECTOR

Short Title: MICROECONOMICS - ENERGY SECTOR

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Covers basic microeconomic concepts and applies them to contemporary issues in the energy sector. Topics covered include demand and supply analysis, market equilibrium and different market structures, international trade, investment and capacity expansion, risk and investment finance, and economic analysis of energy policy including environmental policy.

ECON 603 - APPLIED ECONOMETRICS FOR ENERGY MARKETS

Short Title: APPLIED ECONOMETRICS ENGY MKTS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Students will be introduced to basic concepts in statistical analysis and how to use statistical tools to analyze economic data and test economic theories. The course includes a laboratory session where students practice using the tools discussed in lectures with data that is particularly relevant to the energy industry.

ECON 604 - ENERGY ECONOMICS II

Short Title: ENERGY ECONOMICS II

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Explores a variety of topics in energy modeling and energy data analysis. Topics include optimal extraction of depletable resources, game theoretic approaches to OPEC behavior, national oil company behavior, models of storable energy commodities, energy demand by end-use sector, energy security and fundamental drivers of commodity prices. Credit may be earned by only one of the following courses: ECON 604 or ECON 547. Mutually Exclusive: Credit cannot be earned for ECON 604 and ECON 547.

ECON 605 - TAXATION IN THE ENERGY SECTOR

Short Title: TAXATION IN THE ENERGY SECTOR

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Introduces basic principles of taxation, and general equilibrium modeling of the economic effects of taxes, and applies them to federal and state taxes on the energy sector. Topics include royalties resource rent taxes, corporate income taxes including international tax issues such as transfer pricing and income shifting, excess profit taxes, production-sharing agreements, and environmental taxes.

ECON 606 - CORPORATE FINANCE FOR THE ENERGY SECTOR

Short Title: CORP FINANCE - ENERGY SECTOR

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Examines the investment decisions of corporations, the valuation of stock, bonds and options investments by individual investors. The implications of investor decisions for corporations, and specifically the manner in which they evaluate investment projects and finance investments are a core focus. Examples and case studies focus on the energy sector.

ECON 607 - THE ECONOMICS OF ENERGY AND THE ENVIRONMENT

Short Title: ECON OF ENERGY & ENVIRONMENT

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Focuses on environmental issues of relevance to the energy sector. It examines how markets, legal institutions, especially government policy in the form of environmental taxes and emissions quotas can all be used to affect the supply of amenities such as clean air, clean water and wilderness areas.

ECON 608 - RISK MANAGEMENT IN THE ENERGY INDUSTRY

Short Title: RISK MANAGEMENT/ENERGYINDUSTRY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: This course introduces quantitative risk management techniques often employed in the energy industry. It covers topics such as real options, value at risk, conditional value at risk, and expected shortfall, as well as the use of derivatives for trading and hedging various risk exposures. The course is methodologically self-contained and provides students with hands-on experience with state-of-the-art software to measure and manage risk-adjusted returns of heterogeneous asset portfolios.

ECON 610 - ENERGY AND THE MACROECONOMY

Short Title: ENERGY & THE MACROECONOMY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Discusses connections between energy and economic activity at the regional, national, and international level, and especially the role of energy shocks in economic fluctuations, innovations in energy supply as drivers of regional economic growth, and the role of energy commodities in transportation and international trade.

ECON 611 - GEOPOLITICS OF ENERGY

Short Title: GEOPOLITICS OF ENERGY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Explores the geopolitical issues around energy security and trade by focusing on role of energy as the world's largest business and a strategic requirement of the modern nation-state, a source of power in international relations, and a major influence on national politics and institutions.

ECON 612 - MANAGEMENT OF PUBLIC POLICY ISSUES BY ENERGY COMPANIES

Short Title: MGMT OF PUBLIC POLICY ISSUES

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: This course discusses how to achieve best practices in government, media, and community relations, and interaction with NGOs. It uses case studies as a springboard to demonstrate how energy companies can set up processes to identify and manage public policy issues that can have significant impacts on the energy industry.

ECON 613 - INTERNATIONAL TRADE IN ENERGY

Short Title: INTERNATIONAL TRADE IN ENERGY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: This course explores the effects of international trade and the determinants of the amount of trade between countries in energy commodities, and the role of international capital flows in financing energy projects, in particular. It will also discuss the many ways that governments can alter international trade through various policies.

ECON 614 - POLITICAL ECONOMY OF OIL IN DEVELOPING COUNTRIES

Short Title: POLITICAL ECONOMY OF OIL

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: This course evaluates the political and economic determinants of oil and gas policies in developing countries and their impact on world markets, the interaction between states and oil companies, the challenges of oil wealth management, and the causal links between resource dependency, development, institutions, and political regimes. Although the main focus is on oil production, natural gas is also analyzed, and both are compared to other natural resources. Must be in Masters of Energy Economics Program.

ECON 615 - SOCIAL STUDIES OF ENERGY

Short Title: SOCIAL STUDIES OF ENERGY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Investigate the ways in which energy production and consumption impacts social life. By studying the implementation and use of renewable and on-renewable energy infrastructures in different parts of the world, the students will develop a contextual, self-reflexive and critical lens that will help them make decisions in later stages of their careers.

ECON 620 - INDUSTRIAL ORGANIZATION AND THE ENERGY SECTOR

Short Title: INDUSTRIAL ORG & ENERGY SECTOR

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: The course will discuss monopoly, oligopoly, and the underlying sources of monopoly power in energy industries and how the industries can be restructured to isolate the monopoly elements from the more competitive ones. Other topics include price discrimination, vertical control, mergers and acquisitions, and strategic behavior between firms.

ECON 621 - THE ECONOMICS OF THE ELECTRICITY INDUSTRY

Short Title: ELECTRICITY INDUSTRY ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Discusses the determinants of the cost of electricity, the effects of organizing the industry in different ways, the need to encourage sufficient investment in reserve capacity, and the use of information technology to allow for new ways of pricing electricity, operating the network and coordinating supply and demand.

ECON 622 - TRANSPORTATION ECONOMICS

Short Title: TRANSPORTATION ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 4

Restrictions: Enrollment is limited to Graduate level students. Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Discusses transportation as a major source of energy demand in modern post-industrial economies and of future demands in emerging economies. Emphasizes that the demand for energy use in the transportation sector involves modeling household choices, economic growth and demographic transition, government decisions to support transportation infrastructure development, and the introduction of new technologies.

ECON 699 - PRACTICUM

Short Title: PRACTICUM

Department: Economics

Grade Mode: Standard Letter

Course Type: Internship/Practicum

Credit Hours: 4

Restrictions: Enrollment limited to students in a Master of Energy Economics degree.

Course Level: Graduate

Description: Projects developed by an industry advisory group to be researched and presented to participating industry at completion of all course work. Internships with an approved employer may be substituted.

ECON 800 - GRADUATE RESEARCH

Short Title: GRADUATE RESEARCH

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Course Type: Research

Credit Hours: 1-12

Restrictions: Enrollment is limited to Graduate level students.

Course Level: Graduate

Description: Repeatable for Credit.

Description and Code Legend

Note: Internally, the university uses the following descriptions, codes, and abbreviations for this academic program. The following is a quick reference: 

Course Catalog/Schedule

  • Course offerings/subject code: ECON 

Department Description and Code

  • Economics: ECON 

Undergraduate Degree Description and Code

  • Bachelor of Arts degree: BA 

Undergraduate Major Descriptions and Codes 

  • Major in Economics: ECON 
  • Major in Mathematical Economic Analysis: MTEC 

Graduate Degree Descriptions and Codes

  • Master of Arts degree: MA
  • Master of Energy Economics degree: MEEcon
  • Doctor of Philosophy degree: PhD

Graduate Degree Program Descriptions and Codes

  • Degree Program in Economics: ECON
  • Degree Program in Energy Economics: ENEC