Course Catalog - 2004-2005

     

ECON 211 - PRINCIPLES OF ECONOMICS I

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Description: PRINCIPLES OF ECONOMICS I ***** Introduction to the nature of economics. Includes price systems, household decisions, cost and supply, marginal productivity and capital theory, industrial organization and control, economic efficiency, externalities, and public goods. Required for economics and mathematical economic analysis majors. May also be offered in the summer. Students (both majors and non-majors) enrolled at Rice who wish to transfer this course from another institution must pass a departmental qualifying examination.
 

ECON 212 - PRINCIPLES OF ECONOMICS II

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Description: PRINCIPLES OF ECONOMICS II ***** Includes the measurement and determination of national income; money, banking, and fiscal policy; business cycles, unemployment, and inflation; international trade and balance of payments, and other contemporary economic problems. Required for economics and mathematical economic analysis majors. ***** Prerequisite(s): ECON 211. ***** May also be offered in the summer. ***** Students (majors and non-majors) enrolled at Rice who wish to transfer this course from another institution must pass a department qualifying examination. ***** Unlimited enrollment for section taught by professor. Other sections limited to 25.
 

ECON 355 - FINANCIAL MARKETS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211 AND ECON 212
Description: FINANCIAL MARKETS AND INSTITUTIONS ***** Study the principles of U.S. and international equity and debt markets, and the interactions between such markets and various countries' monetary and exchange rate policies. The role of financial markets and institutions in the allocation and transfer of credit and risk is highlighted, and various existing and suggested regulatory frameworks are discussed. ***** Enrollment limited to 75. ***** Prerequisite(s): ECON 211 and 212.
 

ECON 370 - MICROECONOMIC THEORY

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Description: MICROECONOMIC THEORY ***** Intermediate level analysis of markets, firms, households, income distribution, and general equilibrium. Required for economics and mathematical economic analysis majors. May also be offered in the summer. ***** Enrollment limited to 75. ***** Prerequisite(s): ECON 211, MATH 101, or MATH 111 & 112 or equivalents.
 

ECON 375 - MACROECONOMIC THEORY

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211 OR ECON 212 AND ECON 370 AND MATH 101 OR MATH 102
Description: MACROECONOMIC THEORY ***** Micro-foundations of macreoeconomic theory. Required for mathematical economic analysis majors. ***** Enrollment limited to 75. ***** Prerequisite(s): ECON 211, 212, 370, MATH 101, 102, or equivalents.
 

ECON 382 - PROBABILITY & STATISTICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group III
Credit Hours: 3
Prerequisite(s): ECON 211 AND MATH 102
Description: PROBABILITY & STATISTICS ***** Study of probability theory and the central concepts and methods of statistics with applications to economics, marketing, and finance. Required for mathematical economic analysis majors; may substitute STAT 410 or 431. ***** Also offered as STAT 310. **** Prerequisite(s): ECON 211 and MATH 102.
 

ECON 400 - ECONOMETRICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 382 OR STAT 310 OR STAT 381 AND MATH 355 OR CAAM 310
Description: ECONOMETRICS ***** Survey of estimation and forecasting models. Includes multiple regression time series analysis. ***** Prerequisites: ECON 382 (STAT 310) or STAT 381, and MATH 355 or permission of instructor. A good understanding of linear algebra is highly desirable. Required for mathematical economic analysis majors.
 

ECON 403 - SENIOR INDEPENDENT RESEARCH

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Research
Credit Hours: 3
Description: SENIOR INDEPENDENT RESEARCH ***** Independent research project for seniors on an approved topic of their choice. ***** Prerequisite: Permission of instructor.
 

ECON 404 - SENIOR INDEPENDENT RESEARCH

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Research
Credit Hours: 3
Description: SENIOR INDEPENDENT RESEARCH ***** Independent research project for seniors on an approved topic of their choice. ***** Prerequisite(s): Permission of instructor.
 

ECON 415 - LABOR ECONOMICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211 OR ECON 370 AND MATH 101 OR MATH 102
Description: LABOR ECONOMICS ***** Covers theoretical and empirical work in labor supply, labor demand, and equilibrium in the labor market. The course requires a firm foundation in microeconomic theory and in ability to apply the basic tools of microeconomic analysis. ECON 415 requires no prior courses in statistics or economics, but some elementary knowledge of statistics and econometrics will be useful. ***** Prerequisite(s): ECON 211, 370, and MATH 101(or equivalent).
 

ECON 420 - INTERNATIONAL TRADE

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211 OR ECON 212 AND ECON 370
Description: INTERNATIONAL TRADE ***** Study of the economic relationships between countries. Includes trade theory, tariffs and other trade restrictions, international finance, trade and development, and current policy issues. Not offered every year. ***** Prerequisite(s): ECON 211, 212, 370.
 

ECON 421 - INTERNATIONAL FINANCE

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 370 AND ECON 375 AND (STAT 280 OR ECON 382)
Description: INTERNATIONAL FINANCE ***** Analysis of foreign exchange and international capital markets and linkages between exchange rates, interest rates, and prices. Includes an overview of historical and institutional developments, and current policy issues. Not offered every year. ***** Prerequisite(s): ECON 370, 375, STAT 280 or ECON 382.
 

ECON 435 - INDUSTRIAL ORGANIZATION

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211 AND MATH 101 OR MATH 102
Description: INDUSTRIAL ORGANIZATION ***** Study of market structure, concentration, barriers to entry, and oligopoly pricing. Includes the application of micro theory to industry problems. ***** Prerequisite(s): ECON 211, MATH 101, 102 or permission of instructor.
 

ECON 436 - REGULATION

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211 AND ECON 370 AND ECON 435
Description: REGULATION ***** Analysis of governmental regulatory activities under antitrust laws and in such regulated industries as communications, energy, and transportation. ***** Prerequisite(s): ECON 211. ECON 370 and 435 are recommended.
 

ECON 437 - ENERGY ECONOMICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Description: ENERGY ECONOMICS ***** 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. ***** Enrollment limited to 50. ***** Prerequisite(s): ECON 212, 211, 370, and 375.
 

ECON 438 - ECONOMICS OF THE LAW I

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211 AND ECON 370
Description: ECONOMICS OF THE LAW I ***** Exploration of the role of economics in understanding the legal system. Includes applications to contracts, property, rights, and torts and crime. ***** Enrollment limited to 75. ***** Prerequisite(s): ECON 211, 370.
 

ECON 439 - TORTS, PROPERTY, AND CONTRACTS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Description: TORTS, PROPERTY AND CONTRACTS ***** The course will address the role of economics in understanding the legal system, in particular, understanding how the law allocates entitlements and risk in property, tort and contract law. This course is primarily intended for students who are considering attending law school and uses instruction methods appropriate for that goal. ***** Enrollment limited to 25. ***** Prerequisite(s): ECON 211, 370, and permission of the instructor. Students wishing to enroll in this course should submit a one-page statement to the instructor explaining their interest in the course.
 

ECON 440 - RISK, UNCERTAINTY & INFO

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): MATH 212
Description: RISK, UNCERTAINTY AND INFORMATION ***** Microeconmic foundations of finance and insurance and other economic decisions involving risk and uncertainty. ***** Prerequisite(s): ECON 370, MATH 212 and some familiarity with probability theory. ***** Not offered every year.
 

ECON 445 - MANAGERIAL ECONOMICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 211 AND ECON 212
Description: MANAGERIAL ECONOMICS ***** Application of economics to decision making within the firm. Includes organization theory and problems of control. Not offered every year. ***** Prerequisite(s): ECON 211 and ECON 370.
 

ECON 446 - APPLIED ECONOMETRICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 211 AND ECON 212 AND ECON 382
Description: APPLIED ECONOMETRICS ***** Applied econometrics methods; focus will be on the application of econometrics and complementary measurement methodologies to modeling, forecasting, and hypothesis testing. Applications will include firm decision-making, testing for discrimination in the workplace, competition policy, portfolio management, and macroeconomic forecasting. Not offered every year. ***** Prerequisite(s): ECON 211, 212, 382, (STAT 310) or permission of instructor. Some knowledge of calculus is required.
 

ECON 448 - CORPORATE FINANCE

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211 AND ACCO 305
Description: CORPORATE FINANCE ***** Study of financial theory and its application to practical problems in corporations. Covers the valuation of stocks and bonds, investment decisions, financing decisions, corporate control and the interaction between investment and financing decisions. ***** Prerequisties: ECON 211 and ACCO 305. An elementary knowledge of algebra, calculus and statistics also is required.
 

ECON 449 - BASICS/FINANCIAL ENGINEERING

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 400 OR STAT 421 AND STAT 431 AND MATH 221 AND MATH 222
Description: BASICS OF FINANCIAL ENGINEERING ***** The course will cover the following: mathematical background for continuous time stochastic modeling in finance and financial engineering; statistical methodologies to estimate and test the models commonly used in finance and financial engineering; and applications which all include, Black-Scholes option pricing and term structure models for interest rates. ***** Prerequisite(s): ECON 400 or STAT 421 and 431 or equivalent; and MATH 221 and 222, or equivalencies.
 

ECON 450 - WORLD ECON&SOCIAL DEVELOPMENT

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Description: WORLD ECONOMIC & SOCIAL DEVELOPMENT ***** Examines past and future development in advanced and poor countries, emphasizing resources, population, entrepreneurship, education, and planning. Not offered every year. ***** Prerequisite(s): ECON 211, 212.
 

ECON 451 - ECONOMY OF LATIN AMERICA

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211
Description: THE POLITICAL ECONOMY OF LATIN AMERICA ***** Examination of economic and political development, as well as, current policy, in contemporary Latin America. Includes a comparative analysis of selected countries, with emphasis on the interaction between public policies and economic outcomes. Not offered every year. ***** Prerequisite(s): ECON 211.
 

ECON 452 - ISLAMIC LAW, ECON, & FINANCE

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Description: ISLAMIC LAW, ECONOMICS, AND FINANCE ***** Introduction to Islamic law, Islamic legal theory and Islamic jurisprudence of financial transactions. Economic analysis of Islamic financial jurisprudence, and the growing Islamic finance industry. Not offered every year.
 

ECON 455 - MONEY AND FINANCIAL MARKETS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211 OR ECON 212 AND ECON 370 AND MATH 101 OR MATH 102
Description: MONEY AND FINANCIAL MARKETS ***** Micro-foundation of monetary, fical and financial theory. Not offered every year. ***** Prerequisite(s): ECON 211, 212, 370, MATH 101, 102 or equivalents.
 

ECON 461 - URBAN ECONOMICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211
Description: URBAN ECONOMICS ***** Economic analysis of the development and problems of urban areas, with emphasis on current policy issues. Not offered every year. ***** Prerequisite(s): ECON 211 or permission of instructor.
 

ECON 472 - INTRODUCTION TO GAME THEORY

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Description: INTRODUCTION TO GAME THEORY ***** Study of solution concepts for different games (e.g. strategic form game, coalition form game and extensive form game). Includes elementary application to economics and political science.
 

ECON 475 - INTEGER & COMB. OPTIMIZATION

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): CAAM 471
Description: INTEGER AND COMBINATORIAL OPTIMIZATION ***** Modeling and solving optimization problems with discrete components, graphs and networks; network flow problems; minimum spanning trees; basic polyhedral theory; the knapsack problem; the plant location problem; the set packing problem; computational complexity, branch and bound; cutting planes; Lagrangian relaxation and Bender's decomposition. ***** Also offered as CAAM 475. ***** Prerequisite(s): CAAM 471.
 

ECON 477 - MATHEMATICAL ECONOMICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): MATH 212 OR MATH 221 AND MATH 355 OR CAAM 335 OR MATH 211
Description: MATHEMATICAL STRUCTURE OF ECONOMIC THEORY ***** This course acquaints students with constrained optimization techniques and other advanced tools used in modern economic theory including multivariate analysis, basic linear algebra, topology, convexity, fixed point theorems, separation and dynamic optimization. The course concentrates on individual optimization. Two person zero sum games are discussed including their connection to duality in linear programming. ***** Prerequisite(s): ECON 211, MATH 212 or 221 and CAAM 335 or MATH 355.
 

ECON 480 - ENVIRONMENTAL ECONOMICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211
Description: ENVIRONMENTAL & ENERGY ECONOMICS ***** The economic theories of externalities and common property resources are used to analyze environmental problems. Regulation, taxes and subsidies, transferable pollution rights and legal solutions to environmental problems are evaluated. Environmental and other aspects of alternative energy sources are considered and the pricing of depletable energy resources is analyzed. Not offered every year. ***** Prerequisite(s): ECON 211.
 

ECON 481 - HEALTH ECONOMICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 211
Description: HEALTH ECONOMICS ***** Study of determinants of health, including behavioral, economic and social factors and access to health care. Analysis of the medical care industry, production, cost, demand and supply factors. Effects of regulation and methods of payment. ***** Prerequisite(s): ECON 211.
 

ECON 482 - DISTRIBUTIVE JUSTICE

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 211 AND ECON 370
Description: DISTRIBUTIVE JUSTICE: A MICROECONOMIC APPROACH ***** The course examines efficiency, fairness, and incentive- compatability in problems involving trade and production. Topics include: equality, competative trade; the No Envy test; Stand Alone test; the Shapley value; theories of the social contract such as utilitarianism and egalitarianism; including impossibility results of Arrow and Gibbard- Satterthwaite. Not offered every year. ***** Prerequisite(s): ECON 211 and 370 or permission of the instructor.
 

ECON 483 - PUBLIC FINANCE: TAX POLICY

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211 AND ECON 370
Description: PUBLIC FINANCE: TAX POLICY ***** Analysis of tax policy, primarily at the federal level; emphasizes efficiency and equity issues and evaluation of tax reform proposals. ***** Prerequsite(s): ECON 211, 370.
 

ECON 484 - PUBLIC FINANCE EXPENDITURE

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211
Description: PUBLIC EXPENDITURE THEORY AND SOCIAL INSURANCE ***** Public goods theory including non-rival and congestible public facilities, theory of local public goods including the economics of education. The problem of preference revelation and the fundamentals of benefit-cost analysis. Analysis of the effects of social security, old age retirement, and the role of government in financing healthcare - Medicare and Medicaid. Not offered every year. ***** Prerequisite(s): ECON 211.
 

ECON 485 - CONTEMPORARY ECONOMIC ISSUES

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Description: CONTEMPORARY ECONOMIC ISSUES ***** Analysis of urgent and significant economic problems, with emphasis on the evaluation of policy remedies. Content will vary from year to year. Not offered every year.
 

ECON 486 - CONTEMPORARY ECONOMIC ISSUES

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Description: CONTEMPORARY ECONOMIC ISSUES ***** Analysis or urgent and significant economic problems, with emphasis on the evaluation of policy remedies. Content varies from year to year. Not offered every year.
 

ECON 495 - SENIOR SEMINAR

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Description: SENIOR SEMINAR ***** Comprehensive analysis of economic issues related to a specific topic. Content will vary year to year. Not offered every year.
 

ECON 496 - SENIOR SEMINAR

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Description: SENIOR SEMINAR ***** Comprehensive analysis of economic issues related to a specific topic. Content will vary year to year. Not offered every year.
 

ECON 501 - MICROECONOMIC THEORY I

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: MICROECONOMIC THEORY I ***** Theory of the firm, the theory of consumer behavior, and partial equilibrium analysis.
 

ECON 502 - MACROECON/MONETARY THEORY I

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: MACROECONOMIC/MONETARY THEORY I ***** Macroeconomic theory of output, consumption, investment, interest rates, inflation and employment.
 

ECON 504 - ADVANCED ECONOMIC STATISTICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: ADVANCED ECONOMIC STATISTICS ***** Statistical inference and the testing of hypotheses multiple and partial correlation analysis; analysis of variance and regression. ***** Also offered as STAT 604.
 

ECON 505 - MACROECON/MONETARY THEORY II

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: MACROECONOMIC/MONETARY THEORY II ***** More detailed discussion of selective Macroeconomic and Monetary topics.
 

ECON 506 - TOPICS:MACROECON/MONETARY THRY

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: TOPICS IN MACROECONOMICS/MONETARY THEORY ***** Discussion of selected topics of current interest. Not offered every year. Repeatable for Credit.
 

ECON 507 - MATHEMATICAL ECONOMICS I

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: MATHEMATICAL ECONOMICS I ***** Theory of household, firm; activity analysis; set theory, matrix algebra, vector calculus, metric spaces, separation theory, constrained optimization.
 

ECON 508 - MICROECONOMIC THEORY II

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: MICROECONOMIC THEORY II ***** Continuation of ECON 507. Set theoretic approach to general equilibrium; aggregate linear and nonlinear production models; existence, stability, optimality.
 

ECON 509 - MICROECONOMICS III

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Prerequisite(s): ECON 501 AND ECON 508
Description: MICROECONOMICS III ***** Social choice and preference aggregation. Cardinal welfarism Bargaining: axiomatic and strategic models. Cooperative games: core stability and coalition formation, Shapley value, cost and surplus sharing. Mechanism design: dominant strategy, strategy-proof voting, fair division, and cost sharing; implementation in Nash, Strong, and Bayesian Equilibrium. ***** Prerequisite(s): ECON 501, 508.
 

ECON 510 - ECONOMETRICS I

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Prerequisite(s): ECON 504
Description: ECONOMETRICS I ***** 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. ***** Also offered as STAT 610. Prerequisites: ECON 504. ***** Prerequisite(s): ECON 504.
 

ECON 511 - ECONOMETRICS II

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Prerequisite(s): ECON 510
Description: ECONOMETRICS II ***** Topics in linear and nonlinear simultaneous equations estimation, including qualitative and categorical dependent variables models and duration analysis. Applied exercises use SAS and the Wharton Quarterly Econometric Model. ***** Also offered as STAT 611. ***** Prerequisite(s): ECON 510.
 

ECON 512 - INTERNATIONAL TRADE THEORY

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: INTERNATIONAL TRADE THEORY ***** Exploration of classical, neoclassical, and modern trade theory. Includes welfare aspects of trade such as the theory of commercial policy, with emphasis on applications. Not offered every year.
 

ECON 514 - INDUST'L ORGANIZATION&CONTROL

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: INDUSTRIAL ORGANIZATION & CONTROL ***** Industrial markets and public policy. Not offered every year.
 

ECON 515 - LABOR ECONOMICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: LABOR ECONOMICS ***** Exploration of the economics of the labor market and the economic implications of trade unions, with emphasis on major public policy issues. Not offered every year.
 

ECON 518 - INTERNATIONAL MACROECONOMICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: INTERNATIONAL MACROECONOMICS ***** 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. Not offered every year.
 

ECON 519 - ECONOMIC GROWTH &DEVELOPMENT

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: ECONOMIC GROWTH AND DEVELOPMENT ***** Analysis of theory and policy questions relating to the level and rate of economic development. Not offered every year.
 

ECON 521 - PUBLIC FINANCE I

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: PUBLIC FINANCE I ***** Theory of public goods and externalities, political mechanisms and public choice, theory of local public goods, cost-benefit analysis and project evaluation issues of income redistribution.
 

ECON 522 - PUBLIC FINANCE II

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: PUBLIC FINANCE II ***** 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

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: DYNAMIC OPTIMIZATION ***** Study of dynamic optimization in discrete and continuous time. Not offered every year.
 

ECON 524 - BASIC FINANCIAL ENGINEERING

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: BASIC FINANCIAL ENGINEERING ***** Financial engineers design and analyze products that improve the efficiency of markets and create mechanisms for reducing risk. This course introduces the basics of financial engineering: the notions of arbitrage and risk-neutral probability measure are developed in the case of discrete models; Black-Scholes theory is introduced in continuous-time models, and interest rate derivatives and the term structure of interest rates are discussed. Stochastic processes, Ito calculus and diffusion models are used as basic analytical tools. Statistical methodologies to estimate and test the models commonly used in finance and financial engineering are also introduced. ***** Graduate version of ECON 449. ***** Course offered fall. ***** Instructor(s): Park
 

ECON 565 - HEALTH ECONOMICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: HEALTH ECONOMICS ***** Study of economic aspects of health. Includes production, cost, demand and supply factors; methods of payment and effects of regulation. Not offered every year.
 

ECON 577 - TOPICS IN ECONOMIC THEORY I

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: TOPICS IN ECONOMIC THEORY I ***** Discussion of topics in advanced economic theory. Not offered every year. May repeat for credit. Repeatable for Credit.
 

ECON 578 - TOPICS IN ECONOMIC THEORY II

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: TOPICS IN ECONOMIC THEORY II ***** Discussion topics in advanced economic theory. Not offered every year. May repeat for credit. Repeatable for Credit.
 

ECON 579 - TOPICS IN ECONOMETRICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Prerequisite(s): ECON 511
Description: TOPICS IN ECONOMETRICS ***** Discussion of selected topics in advanced econometrics. Not offered every year. May repeat for credit. ***** Prerequisite(s): ECON 511. Repeatable for Credit.
 

ECON 592 - TOP-POLICY&APPL'D ECON

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: TOPICS IN POLICY & APPLIED ECONOMICS ***** Discussion of selected topics and applied economics. Not offered every year. May repeat for credit. Repeatable for Credit.
 

ECON 593 - WORKSHOP IN ECONOMICS

Long Title:
Department: Economics
Grade Mode: Satisfactory/Unsatisfactory
Course Type: Seminar
Credit Hours: 5
Description: WORKSHOP IN MICROECONOMICS ***** Seminars on advanced topics in macroeconomics, microeconomics, econometrics and applied microeconomic theory, presented through guest lectures by leading researchers. Open to graduate students only. Includes preparation of a research paper over the course of the year and its presentation in the workshop. May repeat for credit. Repeatable for Credit.
 

ECON 594 - WORKSHOP IN ECONOMICS I

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Seminar
Credit Hours: 5
Description: WORKSHOP IN ECONOMICS I ***** Continuation of ECON 593. ***** May repeat for credit. Repeatable for Credit.
 

ECON 595 - WORKSHOP IN ECONOMICS II

Long Title:
Department: Economics
Grade Mode: Satisfactory/Unsatisfactory
Course Type: Lecture
Credit Hours: 5
Description: WORKSHOP IN ECONOMICS II ***** This is the second year continuation of ECON 593-594. Repeatable for Credit.
 

ECON 597 - READINGS IN ADVANCED TOPICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: READINGS IN ADVANCED TOPICS ***** Not offered every year. Repeatable for Credit.
 

ECON 598 - READINGS IN ADVANCED TOPICS

Long Title:
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: READINGS IN ADVANCED TOPICS ***** Not offered every year. Repeatable for Credit.
 

ECON 800 - GRADUATE RESEARCH

Long Title:
Department: Economics
Grade Mode: Satisfactory/Unsatisfactory
Course Type: Research
Credit Hours: 1 TO 12
Description: GRADUATE RESEARCH ***** No Description. Repeatable for Credit.