Course Catalog - 2005-2006

     

ECON 211 - PRINCIPLES OF ECONOMICS I

Long Title: PRINCIPLES OF ECONOMICS I
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Description: 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: PRINCIPLES OF ECONOMICS II
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211
Description: 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. 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.
 

ECON 348 - ORGANIZATIONAL DESIGN

Long Title: ORGANIZATIONAL DESIGN
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 211
Description: An introduction to the analysis, design, and management of organizations with an emphasis on incentives and information. Principles from economics, political science, and game theory will be applied to problems in project and team management, in organizational computing, and in allocating and pricing shared facilities. Cross-list: POLI 348.
 

ECON 355 - FINANCIAL MARKETS

Long Title: FINANCIAL MARKETS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211
Description: 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.
 

ECON 370 - MICROECONOMIC THEORY

Long Title: MICROECONOMIC THEORY
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 111 AND MATH 212)
Description: Intermediate level analysis of markets, firms, households, income distribution, and general equilibrium. Required for economics and mathematical economic analysis majors.
 

ECON 375 - MACROECONOMIC THEORY

Long Title: MACROECONOMIC THEORY
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 MATH 101 OR MATH 111 AND MATH 212
Description: Micro-foundations of macroeconomic theory. Required for economics and mathematical economic analysis majors.
 

ECON 382 - PROBABILITY & STATISTICS

Long Title: PROBABILITY AND STATISTICS
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: 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. Cross-list: STAT 310.
 

ECON 400 - ECONOMETRICS

Long Title: ECONOMETRICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 382 OR STAT 310 OR STAT 381 AND MATH 211 OR MATH 355 OR CAAM 335 or permission of instructor
Description: Survey of estimation and forecasting models. Includes multiple regression time series analysis. A good understanding of linear algebra is highly desirable. Required for mathematical economic analysis majors. Cross-list: STAT 400.
 

ECON 403 - SENIOR INDEPENDENT RESEARCH

Long Title: SENIOR INDEPENDENT RESEARCH
Department: Economics
Grade Mode: Standard Letter
Course Type: Research
Credit Hours: 3
Restrictions:
Must be enrolled in one of the following Class(es):
Senior
Description: Independent research project for seniors on an approved topic of their choice. Instructor Permission Required.
 

ECON 404 - SENIOR INDEPENDENT RESEARCH

Long Title: SENIOR INDEPENDENT RESEARCH
Department: Economics
Grade Mode: Standard Letter
Course Type: Research
Credit Hours: 3
Restrictions:
Must be enrolled in one of the following Class(es):
Senior
Description: Independent research project for seniors on an approved topic of their choice. Instructor Permission Required.
 

ECON 415 - LABOR ECONOMICS

Long Title: LABOR ECONOMICS
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 MATH 101
Description: 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.
 

ECON 420 - INTERNATIONAL TRADE

Long Title: INTERNATIONAL TRADE
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: Study of the economic relationships between countries. Includes trade theory, tariffs and other trade restrictions, international finance, trade and development, and current policy issues.
 

ECON 421 - INTERNATIONAL FINANCE

Long Title: INTERNATIONAL FINANCE
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: 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.
 

ECON 435 - INDUSTRIAL ORGANIZATION

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

ECON 436 - REGULATION

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

ECON 437 - ENERGY ECONOMICS

Long Title: ENERGY ECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 211 AND ECON 370 AND ECON 375
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.
 

ECON 438 - BUSINESS, LAW, AND ECONOMICS

Long Title: BUSINESS, LAW AND ECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211
Description: Exploration of the area of the law most applicable to business using economic tools.
 

ECON 439 - TORTS, PROPERTY, AND CONTRACTS

Long Title: TORTS, PROPERTY, AND CONTRACTS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 211 AND ECON 370
Description: 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. 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: RISK, UNCERTAINTY AND INFORMATION
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): MATH 212
Description: Microeconomic foundations of finance and insurance and other economic decisions involving risk and uncertainty. Recommended prerequisite(s): ECON 370 and familiarity with probability theory.
 

ECON 445 - MANAGERIAL ECONOMICS

Long Title: MANAGERIAL ECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 211 AND ECON 370
Description: Application of economics to decision making within the firm. Includes organization theory and problems of control.
 

ECON 446 - APPLIED ECONOMETRICS

Long Title: APPLIED ECONOMETRICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 211 AND (STAT 280 OR STAT 310)
Description: 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. Some knowledge of calculus is required.
 

ECON 448 - CORPORATE FINANCE

Long Title: CORPORATE FINANCE
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 370 AND ACCO 305 AND STAT 280 or permission of instructor
Description: 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.
 

ECON 449 - BASICS/FINANCIAL ENGINEERING

Long Title: BASICS OF FINANCIAL ENGINEERING
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: 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. Graduate/Undergraduate Equivalency: ECON 524.
 

ECON 450 - WORLD ECON&SOCIAL DEVELOPMENT

Long Title: ECONOMIC DEVELOPMENT
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211
Description: Examines past and future development in advanced and poor countries, emphasizing resources, population, entrepreneurship, education, and planning.
 

ECON 451 - ECONOMY OF LATIN AMERICA

Long Title: THE POLITICAL ECONOMY OF LATIN AMERICA
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211
Description: 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.
 

ECON 452 - RELIGION, ETHICS, & ECONOMICS

Long Title: RELIGION, ETHICS, AND ECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 211
Description: Review economic models of the formation of religious groups and ethical norms, as well as, the interactions of religious beliefs and ethical norms with economic incentives and legal systems. Also review recent debates on the role of ethics in corporate culture, especially in highly competitive industries and markets. Students will write term papers on topics of their choosing, subject to professor's approval.
 

ECON 455 - MONEY AND FINANCIAL MARKETS

Long Title: MONEY AND FINANCIAL MARKETS
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 MATH 101
Description: Micro-foundation of monetary, fiscal and financial theory.
 

ECON 461 - URBAN ECONOMICS

Long Title: URBAN ECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211 or permission of instructor
Description: Economic analysis of the development and problems of urban areas, with emphasis on current policy issues.
 

ECON 472 - INTRODUCTION TO GAME THEORY

Long Title: INTRODUCTION TO GAME THEORY
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Description: 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: INTEGER PROGRAMMING
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): CAAM 378 OR CAAM 464 or permission of instructor
Description: 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. Cross-list: CAAM 475.
 

ECON 477 - MATHEMATICAL ECONOMICS

Long Title: MATHEMATICAL STRUCTURE OF ECONOMIC THEORY
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 AND ECON 211
Description: 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.
 

ECON 480 - ENVIRONMENTAL ECONOMICS

Long Title: ENVIRONMENTAL AND ENERGY ECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211
Description: 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.
 

ECON 481 - HEALTH ECONOMICS

Long Title: HEALTH ECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 370 AND (ECON 382 OR STAT 310) OR ECON 400 OR STAT 280 OR STAT 305 OR STAT 385
Description: 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.
 

ECON 482 - DISTRIBUTIVE JUSTICE

Long Title: DISTRIBUTIVE JUSTICE: A MICROECONOMIC APPROACH
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 211 AND ECON 370
Description: The course examines efficiency, fairness, and incentive- compatibility in problems involving trade and production. Topics include: equality, competitive 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.
 

ECON 483 - PUBLIC FINANCE: TAX POLICY

Long Title: PUBLIC FINANCE: TAX POLICY
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: 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, efficiency and simplicity. Tax effects on individual and business behavior and general equilibrium modeling of the economic and distributional effects of alternative tax reforms are analyzed. Special topics include optimal taxation of the family, estate taxation, taxation of electronic commerce, and state and local public finance.
 

ECON 484 - PUBLIC FINANCE EXPENDITURE

Long Title: PUBLIC FINANCE EXPENDITURE
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Distribution Group: Distribution Group II
Credit Hours: 3
Prerequisite(s): ECON 211
Description: 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.
 

ECON 485 - CONTEMPORARY ECONOMIC ISSUES

Long Title: CONTEMPORARY ECONOMIC ISSUES
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Prerequisite(s): ECON 370
Description: Analysis of urgent and significant economic problems, with emphasis on the evaluation of policy remedies. Content will vary from year to year. Instructor Permission Required.
 

ECON 486 - CONTEMPORARY ECONOMIC ISSUES

Long Title: CONTEMPORARY ECONOMIC ISSUES
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Description: Analysis of current with emphasis on the evaluation of policy remedies. Content varies from year to year.
 

ECON 495 - SENIOR SEMINAR

Long Title: SENIOR SEMINAR
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Description: Comprehensive analysis of economic issues related to a specific topic. Content will vary year to year.
 

ECON 496 - SENIOR SEMINAR

Long Title: SENIOR SEMINAR
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 3
Description: Comprehensive analysis of economic issues related to a specific topic. Content will vary year to year.
 

ECON 501 - MICROECONOMIC THEORY I

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

ECON 502 - MACROECON/MONETARY THEORY I

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

ECON 504 - ADVANCED ECONOMIC STATISTICS

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

ECON 505 - MACROECON/MONETARY THEORY II

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

ECON 506 - TOPICS:MACROECON/MONETARY THRY

Long Title: TOPICS IN MACROECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: Discussion of selected topics of current interest, Repeatable for Credit.
 

ECON 507 - MATHEMATICAL ECONOMICS I

Long Title: MATHEMATICAL ECONOMICS I
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: 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: MICROECONOMIC THEORY II
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Prerequisite(s): ECON 501
Description: Set theoretic approach to general equilibrium; aggregate linear and nonlinear production models; existence, stability, optimality.
 

ECON 509 - MICROECONOMICS III

Long Title: MICROECONOMICS III
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Prerequisite(s): ECON 501 AND ECON 508
Description: 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.
 

ECON 510 - ECONOMETRICS I

Long Title: ECONOMETRICS I
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Prerequisite(s): ECON 504
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

Long Title: ECONOMETRICS II
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Prerequisite(s): ECON 510
Description: 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. Cross-list: STAT 611.
 

ECON 512 - INTERNATIONAL TRADE THEORY

Long Title: INTERNATIONAL TRADE THEORY
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
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 - INDUST'L ORGANIZATION&CONTROL

Long Title: INDUSTRIAL ORGANIZATION AND CONTROL
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: Industrial markets and public policy.
 

ECON 515 - LABOR ECONOMICS

Long Title: LABOR ECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: Exploration of the economics of the labor market and the economic implications of trade unions, with emphasis on major public policy issues.
 

ECON 518 - INTERNATIONAL MACROECONOMICS

Long Title: INTERNATIONAL MACROECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
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 &DEVELOPMENT

Long Title: ECONOMIC GROWTH AND DEVELOPMENT
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: Analysis of theory and policy questions relating to the level and rate of economic development.
 

ECON 521 - PUBLIC FINANCE I

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

Long Title: DYNAMIC OPTIMIZATION
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: Study of dynamic optimization in discrete and continuous time.
 

ECON 524 - BASICS/FINANCIAL ENGINEERING

Long Title: BASIC FINANCIAL ENGINEERING
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: 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/Undergraduate Equivalency: ECON 449.
 

ECON 565 - HEALTH ECONOMICS

Long Title: HEALTH ECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: Study of economic aspects of health. Includes production, cost, demand and supply factors; methods of payment and effects of regulation.
 

ECON 577 - TOPICS IN ECONOMIC THEORY I

Long Title: TOPICS IN ECONOMIC THEORY I
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: Discussion of topics in advanced economic theory. Repeatable for Credit.
 

ECON 578 - TOPICS IN ECONOMIC THEORY II

Long Title: TOPICS IN ECONOMIC THEORY II
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture/Laboratory
Credit Hours: 5
Description: Discussion topics in advanced economic theory. Repeatable for Credit.
 

ECON 579 - TOPICS IN ECONOMETRICS

Long Title: TOPICS IN ECONOMETRICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Prerequisite(s): ECON 511
Description: Discussion of selected topics in advanced econometrics. Repeatable for Credit.
 

ECON 592 - TOP-POLICY&APPL'D ECON

Long Title: TOPICS IN POLICY AND APPLIED ECONOMICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description: Discussion of selected topics and applied economics. Repeatable for Credit.
 

ECON 593 - WORKSHOP IN ECONOMICS

Long Title: WORKSHOP IN MICROECONOMICS
Department: Economics
Grade Mode: Satisfactory/Unsatisfactory
Course Type: Seminar
Credit Hours: 5
Restrictions:
Must be enrolled in one of the following Class(es):
Graduate
Description: Seminars on advanced topics in macroeconomics, microeconomics, econometrics and applied microeconomic theory, presented through guest lectures by leading researchers. Includes preparation of a research paper over the course of the year and its presentation in the workshop. Repeatable for Credit.
 

ECON 594 - WORKSHOP IN ECONOMICS I

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

ECON 595 - WORKSHOP IN ECONOMICS II

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

ECON 597 - READINGS IN ADVANCED TOPICS

Long Title: READINGS IN ADVANCED TOPICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description:  Repeatable for Credit.
 

ECON 598 - READINGS IN ADVANCED TOPICS

Long Title: READINGS IN ADVANCED TOPICS
Department: Economics
Grade Mode: Standard Letter
Course Type: Lecture
Credit Hours: 5
Description:  Repeatable for Credit.
 

ECON 800 - GRADUATE RESEARCH

Long Title: GRADUATE RESEARCH
Department: Economics
Grade Mode: Satisfactory/Unsatisfactory
Course Type: Research
Credit Hours: 1 TO 12
Description:  Repeatable for Credit.