Course Schedule and Catalog

Long Title: AP/OTH CREDIT IN MICROECONOMICS

Department: Economics

Grade Mode: Transfer Courses

Course Type: Transfer

Credit Hours: 1 TO 6

Description: This course provides credit for students who have successfully completed approved examinations, such as Advanced Placement exams or for students with transfer credit. This credit counts toward the total credit hours required for graduation.

Long Title: AP/OTH CREDIT IN MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Transfer

Credit Hours: 1 TO 6

Description: This course provides credit for students who have successfully completed approved examinations, such as Advanced Placement exams or for students with transfer credit. This credit counts toward the total credit hours required for graduation.

Long Title: AN INTRODUCTION TO POLITICAL ECONOMY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Description: Economics 120 is a course primarily for students who do not plan to major in economics, but are interested in learning some fundamental economic concepts and applying these concepts to some contemporary problems such as trade policy, health economics, poverty and welfare, race and discrimination. Economics 120 is not a substitute for Economics 211, but is open to economics majors who are interested in policy but does not count toward an economics major.

Long Title: PRINCIPLES OF ECONOMICS

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. Students (both majors and non-majors) enrolled at Rice who wish to transfer this course from another institution must pass a departmental qualifying examination.

Long Title: FOUNDATIONS OF PUBLIC SECTOR ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 211

Description: The prime focus of the course is upon the government budget including taxes, expenditures, debt finance as well as government-owned enterprises. Effects of the budget on income distribution, efficiency and economic growth are also considered.

Long Title: INTRODUCTION TO GAME THEORY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Description: Game theory is a way of thinking about strategic situations. Ideas such as dominance, Nash equilibrium, evolutionary stability, backward induction, commitment, credibility, asymmetric information, adverse selection, and signaling are discussed and applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere. Some familiarity with the principles of microeconomics (e.g. ECON 211) is desirable, but not essential. No prior knowledge of game theory is assumed.

Long Title: ORGANIZATIONAL DESIGN

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 211 OR ECON 370

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.

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.

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 (ECON 211 AND MATH 111 AND MATH 112)

Description: Intermediate level analysis of markets, firms, households, income distribution, and general equilibrium. Required for economics and mathematical economic analysis majors.

Long Title: MACROECONOMIC THEORY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 370

Description: Micro-foundations of macroeconomic theory. Required for economics and mathematical economic analysis majors.

Long Title: PROBABILITY AND STATISTICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group III

Credit Hours: 3

Prerequisite(s): MATH 102

Description: Probability and the central concepts and methods of statistics including probability distributions, expectation, estimation, hypothesis testing, sampling distributions, linear models. Section 1 presents the general use in multiple disciplines; section 2 focuses on problem sets and examples in civil and environmental engineering. Cross-list: STAT 310.

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.

Long Title: SENIOR INDEPENDENT RESEARCH

Department: Economics

Grade Mode: Standard Letter

Course Type: Research

Credit Hours: 3

Description: Independent research project for seniors on an approved topic of their choice. Instructor Permission Required.

Long Title: SENIOR INDEPENDENT RESEARCH

Department: Economics

Grade Mode: Standard Letter

Course Type: Research

Credit Hours: 3

Description: Independent research project for seniors on an approved topic of their choice. Instructor Permission Required.

Long Title: LABOR ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 370 AND MATH 101

Description: This course studies 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.

Long Title: INTERNATIONAL TRADE

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): 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.

Long Title: INTERNATIONAL FINANCE

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 370 AND ECON 375

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.

Long Title: INDUSTRIAL ORGANIZATION

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 370

Description: Study of market structure, concentration, barriers to entry, and oligopoly pricing. Includes the application of micro theory to industry problems.

Long Title: REGULATION

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 370

Description: Analysis of governmental regulatory activities under antitrust laws and in such regulated industries as communications, energy, and transportation. Recommended Prerequisite(s): ECON 435.

Long Title: ENERGY ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): 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. Crosslisted with ENST 437. Cross-list: ENST 437.

Long Title: BUSINESS, LAW AND ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 211

Description: Exploration of the area of the law most applicable to business using economic tools.

Long Title: TORTS, PROPERTY, AND CONTRACTS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): 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.

Long Title: GAME THEORY AND ECONOMIC BEHAVIOR

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 370

Description: Choice under uncertainty and Von Neumann Morgenstern utility; games in normal form: mixed strategies, Nash equilibrium (existence and stability); games in extensive form: backward induction and other equilibrium refinements; games with incomplete information: Bayesian Nash equilibrium, application to signaling; cooperative games: the coalitional form, coalition formation and core stability, applications to exchange and bilateral Groves mechanisms. Recommended prerequisite(s): Familiarity with mathematical arguments and probability theory.

Long Title: MANAGERIAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 370 AND (MATH 101 OR MATH 111)

Description: Application of economics to decision making within the firm. Includes organization theory and problems of control. A student may not receive credit for this course and ECON 348/POLI 348.

Long Title: APPLIED ECONOMETRICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 211 AND (STAT 280 OR ECON 382 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.

Long Title: ADVANCED TOPICS IN ENERGY ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 437 AND (ECON 400 OR ECON 446)

Description: A more detailed development and analysis of topics in energy modeling. Topics include optimal extraction of depletable resources with uncertainty, energy demand by commodity and end-use sector, and the relationship between energy commodity prices. Graduate/Undergraduate Equivalency: ECON 547. Recommended Pre-requisite: ECON 477 Mutually Exclusive: Cannot register for ECON 447 if student has credit for ECON 547.

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 OR BUSI 305) AND STAT 280 OR (ECON 382 OR STAT 310)

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. Recommended Prerequisite: ECON 382 or STAT 310.

Long Title: BASICS OF FINANCIAL ENGINEERING

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): MATH 221 AND MATH 222 AND (ECON 382 OR STAT 310) OR ECON 400 or permission of instructor

Description: This course covers the use of financial securities and derivatives to take or hedge financial risk positions. Most commonly used instruments, from simple forwards and futures to exotic options and swaptions are covered. The pricing of derivative securities will also be studied, but the emphasis will be on the mechanics and uses of financial engineering methods. Graduate/Undergraduate Equivalency: ECON 524.

Long Title: ECONOMIC DEVELOPMENT

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 370 or permission of instructor

Description: Examines past and future development in advanced and poor countries, emphasizing resources, population, entrepreneurship, education, and planning.

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 370 or permission of instructor

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.

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.

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 370 AND ECON 355

Description: Micro-foundation of monetary, fiscal and financial theory.

Long Title: URBAN ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 370

Description: Deals with the nature and development of urban areas. The analytical sections of the course deal with the location of firms and households in an urban spatial context, the size distribution of urban areas, the theory of land rent, and optimal city size. Various urban problems such as poverty, racial segregation and discrimination, and pollution and environmental quality are discussed. Other policy questions deal with congestion tolls and efficient highway investment, land use regulation, central city fiscal problems, and alternative educational policies.

Long Title: MATHEMATICAL STRUCTURE OF ECONOMIC THEORY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 370 AND (MATH 212 OR MATH 221) AND (CAAM 335 OR MATH 355) or permission of instructor

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.

Long Title: ECONOMIC MODELING AND PUBLIC POLICY

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 370

Description: Economists and policy makers often use computable general equilibrium (CGE) models to analyze the economic effects of public policy reforms. This course examines theoretical aspects of general equilibrium modeling, 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. Preprequisite: ECON 370.

Long Title: ENVIRONMENTAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 370

Description: The economic theories of externalities and common property resources are used 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. We also discuss methods for determining the demand for environmental amenities. Crosslisted: ENST 480. Prerequisite: Economics 370 or permission of instructor. Cross-list: ENST 480.

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 ECON 446 OR STAT 280)

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.

Long Title: DISTRIBUTIVE JUSTICE: A MICROECONOMIC APPROACH

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 370 or permission of instructor

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.

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 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.

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 370

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.

Long Title: CONTEMPORARY ECONOMIC ISSUES

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

Description: Analysis of urgent and significant economic problems, with emphasis on the evaluation of policy remedies. Content will vary from year to year.

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.

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.

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.

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.

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.

Long Title: ADVANCED ECONOMIC STATISTICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 3

Description: Statistical inference and the testing of hypotheses multiple and partial correlation analysis; analysis of variance and regression. Cross-list: STAT 604.

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.

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.

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.

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.

Long Title: MICROECONOMICS III

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 5

Prerequisite(s): 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.

Long Title: ECONOMETRICS I

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 3

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.

Long Title: ECONOMETRICS II

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture/Laboratory

Credit Hours: 3

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.

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.

Long Title: INDUSTRIAL ORGANIZATION AND CONTROL

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 5

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.

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.

Long Title: EMPIRICAL MICROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 5

Description: Overview of methods used in empirical microeconomics research with special emphasis on health and legal topics.

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.

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.

Long Title: PUBLIC ECONOMICS: EXPENDITURE POLICY

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.

Long Title: PUBLIC ECONOMICS: TAX POLICY

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.

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, including numerical methods and applications to microeconomics, finance and resource and energy economics.

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.

Long Title: ADVANCED TOPICS IN ENERGY ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 5

Prerequisite(s): ECON 437 AND (ECON 400 OR ECON 446)

Description: A more detailed development and analysis of topics in energy modeling. Topics include optimal extraction of depletable resources with uncertainty, energy demand by commodity and end-use sector, and the relationship between energy commodity prices. Graduate/Undergraduate Equivalency: ECON 447. Recommended Pre-requisite: ECON 477 Mutually Exclusive: Cannot register for ECON 547 if student has credit for ECON 447.

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.

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.

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.

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.

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.

Long Title: WORKSHOP IN MICROECONOMICS

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Course Type: Seminar

Credit Hours: 5

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

Long Title: WORKSHOP IN ECONOMICS I

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Course Type: Seminar

Credit Hours: 5

Description: Continuation of ECON 593. Repeatable for Credit.

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.

Long Title: READINGS IN ADVANCED TOPICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 5

Description:  Repeatable for Credit.

Long Title: READINGS IN ADVANCED TOPICS

Department: Economics

Grade Mode: Standard Letter

Course Type: Lecture

Credit Hours: 5

Description:  Repeatable for Credit.

Long Title: GRADUATE RESEARCH

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Course Type: Research

Credit Hours: 1 TO 12

Description:  Repeatable for Credit.