Course Schedule and Catalog

Long Title: VISITING RESEARCH

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Language of Instruction: Taught in English

Course Type: Research

Credit Hours: 0

Description: Research conducted by visiting student scholars. Department Permission Required. Repeatable for Credit.

Long Title: PRINCIPLES OF ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

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

Long Title: INTRODUCTION TO MICROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Description: Introduction to microeconomic analysis at a level suitable for non-majors. Applies only for transfer credit and requires departmental approval. Approved credit counts toward total credit hours required for graduation and for distribution, but does not count toward the ECON or MTEC majors. Students may not receive credit for ECON 101 if credit for ECON 201/211 has already been awarded. Mutually Exclusive: Cannot register for ECON 101 if student has credit for ECON 111/ECON 201/ECON 211.

Long Title: INTRODUCTION TO MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

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

Long Title: AP/OTH CREDIT IN MICROECONOMICS

Department: Economics

Grade Mode: Transfer Courses

Language of Instruction: Taught in English

Course Type: Transfer

Credit Hours: 1 TO 6

Description: Provides transfer credit based on student performance on approved examinations in microeconomics, such as the Advanced Placement microeconomics exam or the International Baccalaureate higher-level economics exams, or for an approved introductory microeconomics course. Approved credit counts toward total credit hours required for graduation, but does not count for distribution or toward the ECON or MTEC majors. Students may not receive credit for ECON 111 if credit for ECON 201/211 has already been awarded. Mutually Exclusive: Cannot register for ECON 111 if student has credit for ECON 101/ECON 201/ECON 211.

Long Title: AP/OTH CREDIT IN MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Transfer

Credit Hours: 1 TO 6

Description: Provides transfer credit based on student performance on approved examinations in macroeconomics, such as the Advanced Placement macroeconomics exam or the International Baccalaureate higher-level economics exams, or for an approved introductory macroeconomics course. Approved credit counts toward total credit hours required for graduation, but does not count for distribution or toward the ECON or MTEC majors. Mutually Exclusive: Cannot register for ECON 113 if student has credit for ECON 103/ECON 112.

Long Title: MICROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): (ECON 100 OR ECON 201 OR ECON 211) AND MATH 102

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

Long Title: MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

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

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

Long Title: APPLIED ECONOMETRICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Distribution Group: Distribution Group II

Credit Hours: 4

Prerequisite(s): (ECON 200 OR ECON 301 OR ECON 370) AND (ECON 307 OR ECON 382 OR STAT 310)

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

Long Title: BEHAVIORAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

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

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

Long Title: LAW AND ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

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

Description: Exploration of the law using economic tools based on microeconomic theory. Focuses on legal issues most applicable to business. Mutually Exclusive: Cannot register for ECON 239 if student has credit for ECON 438.

Long Title: MICROECONOMICS AND PUBLIC POLICY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 100 OR ECON 201

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

Long Title: MICROECONOMICS AND PUBLIC POLICY TOWARDS BUSINESS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 100 OR ECON 201

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

Long Title: MACROECONOMICS AND PUBLIC POLICY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 100 OR ECON 201

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

Long Title: INTERNATIONAL MACROECONOMICS AND PUBLIC POLICY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 100 OR ECON 201

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

Long Title: GAME THEORY AND OTHER MICRO TOPICS FOR ECON MAJORS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 200 OR ECON 301 OR ECON 370) AND (ECON 307 OR STAT 310)

Description: Advanced level analysis of topics in microeconomics designed for students in the ECON major. Topics include the foundations and applications of game theory, the economics of choice under uncertainty, and information economics including issues of asymmetric information. Additional topics may include auction theory, mechanism design and behavioral economics. Open to all majors other than MTEC.

Long Title: MICROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): (ECON 201 OR ECON 211) AND MATH 101 OR (MATH 111 AND MATH 112)

Description: Intermediate level analysis of theories of household behavior, including demand for consumer goods, labor supply, and savings/investment decisions, and producer behavior including the supply of output and demands for labor, capital and other production inputs. Emphasizes individual and interactive decision making under resource constraints. Analyzes equilibria in competitive and noncompetitive markets, and discusses topics in welfare economics. Department Permission Required.Equivalency: ECON 200. Mutually Exclusive: Cannot register for ECON 301 if student has credit for ECON 200.

Long Title: MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): ECON 301 OR ECON 370

Description: Analyzes aggregate performance of the national economy including output, inflation, interest rates, employment, the business cycle, monetary and fiscal policy, and more generally the appropriate role of government in influencing aggregate economic performance. Introduces both the traditional aggregative only approach to Macroeconomics and the more recent New Classical and New Keynesian micro-foundations approaches. Department Permission Required.Equivalency: ECON 203. Mutually Exclusive: Cannot register for ECON 303 if student has credit for ECON 203.

Long Title: GAME THEORY AND OTHER MICRO TOPICS FOR MTEC MAJORS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 307 OR STAT 310) AND (ECON 308 OR ECON 401 OR ECON 477)

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

Long Title: PROBABILITY AND STATISTICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

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 of random variables, expectation, sampling distributions, estimation, confidence intervals, and hypothesis testing. Cross-list: STAT 310. Recommended Prerequisite(s): MATH 212.

Long Title: MATHEMATICAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 200 OR ECON 301 OR ECON 370) AND (MATH 212 OR MATH 221)

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

Long Title: APPLIED ECONOMETRICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Distribution Group: Distribution Group II

Credit Hours: 4

Prerequisite(s): (ECON 301 OR ECON 370) AND (STAT 280 OR ECON 307 OR ECON 382 OR STAT 310)

Description: Applied econometric methods: econometric theory with practical emphasis on modeling, estimation, and hypothesis testing. A computer lab one day a week focuses on empirical implementation of econometric methods using STATA software. Credit may be given for only one of ECON 309 or ECON 209. Department Permission Required.Equivalency: ECON 209. Mutually Exclusive: Cannot register for ECON 309 if student has credit for ECON 209.

Long Title: ECONOMETRICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 209 OR ECON 309 OR ECON 446) AND (ECON 308 OR ECON 401 OR ECON 477)

Description: Survey of estimation and forecasting models. Includes multiple regression time series analysis. A good understanding of linear algebra is highly desirable. Cross-list: STAT 376. Mutually Exclusive: Cannot register for ECON 310 if student has credit for ECON 409/STAT 400.

Long Title: CORPORATE FINANCE

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

Prerequisite(s): (ECON 100 OR ECON 201 OR ECON 211) AND (STAT 310 OR ECON 307) AND BUSI 305

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

Long Title: FINANCIAL MARKETS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group II

Credit Hours: 3

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

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

Long Title: WORLD ECONOMIC HISTORY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Distribution Group: Distribution Group I

Credit Hours: 3

Prerequisite(s): (ECON 100 OR ECON 201 OR ECON 211) AND (ECON 200 OR ECON 301 OR ECON 370) AND (ECON 203 OR ECON 303 OR ECON 375)

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

Long Title: INDEPENDENT RESEARCH

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Research

Credit Hours: 3

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

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

Long Title: LABOR ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

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

Long Title: ECONOMIC FORECASTING

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 203 OR ECON 303 OR ECON 375) AND (ECON 209 OR ECON 309 OR ECON 446)

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

Long Title: ADVANCED TOPICS IN ECONOMETRICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

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

Long Title: INTERNATIONAL TRADE

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

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

Long Title: INTERNATIONAL FINANCE

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 203 OR ECON 303 OR ECON 375 or permission of instructor

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

Long Title: INTERNATIONAL ECONOMICS AND FINANCE

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 200 OR ECON 301 OR ECON 370) AND (ECON 203 OR ECON 303 OR ECON 375)

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

Long Title: POLITICAL ECONOMY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 200 OR ECON 301 OR ECON 370) AND (ECON 205 OR ECON 300 OR ECON 305 OR ECON 405)

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

Long Title: INDUSTRIAL ORGANIZATION

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 300 OR ECON 305) AND (ECON 209 OR ECON 309 OR ECON 310)

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

Long Title: ENERGY ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

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

Long Title: ADVANCED TOPICS IN LAW AND ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

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

Long Title: EMPIRICAL METHODS FOR INDUSTRIAL ORGANIZATION

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 300 OR ECON 305) AND (ECON 307 OR STAT 310)

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

Long Title: FINANCIAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 305 OR ECON 405) AND (ECON 307 OR STAT 310 OR ECON 382)

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

Long Title: MANAGERIAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

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

Long Title: PRINCIPLES OF FINANCIAL ENGINEERING

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 308 OR MATH 211) AND MATH 212 AND (ECON 310 OR ECON 400 OR STAT 376 OR STAT 400 OR ECON 409)

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

Long Title: ECONOMIC DEVELOPMENT

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

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

Long Title: RELIGION, ETHICS, AND ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 200 OR ECON 301 OR ECON 370) AND (STAT 310 OR ECON 307)

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

Long Title: MONEY AND BANKING

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 203 OR ECON 303 OR ECON 375) AND (ECON 200 OR ECON 301 OR ECON 370)

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

Long Title: ADVANCED TOPICS IN ECONOMIC DEVELOPMENT

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

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

Long Title: ECONOMICS OF HUMAN CAPITAL

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Credit Hours: 4

Prerequisite(s): (ECON 200 OR ECON 301 OR ECON 370) AND (ECON 209 OR ECON 309 OR ECON 446)

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

Long Title: MARKET DESIGN

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 200 OR ECON 301 OR ECON 370) AND (ECON 307 OR STAT 310)

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

Long Title: ECONOMIC MODELING AND PUBLIC POLICY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Description: Examines the use of computable general equilibrium (CGE) models to analyze the economic effects of public policy reforms. Reviews theoretical aspects of general equilibrium modeling, 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.

Long Title: ENVIRONMENTAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

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

Long Title: HEALTH ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

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

Long Title: PUBLIC FINANCE

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

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

Long Title: PUBLIC ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 200 OR ECON 301 OR ECON 370) AND MATH 212

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

Long Title: RESEARCH IN ECONOMIC THEORY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Research

Credit Hours: 3

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

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

Long Title: RESEARCH IN ECONOMETRICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Research

Credit Hours: 3

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

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

Long Title: HONORS PROGRAM IN ECONOMICS-I

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Research

Credit Hours: 3

Prerequisite(s): ECON 203 OR ECON 303 OR ECON 375) AND (ECON 209 OR ECON 310) AND (ECON 300 OR ECON 305 OR ECON 405)

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

Long Title: HONORS PROGRAM IN ECONOMICS-II

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Research

Credit Hours: 3

Prerequisite(s): ECON 498

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

Long Title: MICROECONOMICS I

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Credit Hours: 3

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

Long Title: MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Credit Hours: 3

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

Long Title: COMPUTATIONAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Long Title: FINANCIAL ECONOMICS I

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 501 AND ECON 502

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

Long Title: MATHEMATICAL ECONOMICS I

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Long Title: MICROECONOMICS II

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 5

Prerequisite(s): ECON 501 AND MATH 321

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

Long Title: TOPICS IN MICROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 508

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

Long Title: ECONOMETRICS I

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Long Title: INTERNATIONAL TRADE THEORY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Credit Hours: 3

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

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Credit Hours: 3

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

Long Title: EMPIRICAL MICROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 508

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

Long Title: EMPIRICAL INDUSTRIAL ORGANIZATION

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 508 AND ECON 510

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

Long Title: INTERNATIONAL MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Credit Hours: 3

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

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Long Title: PUBLIC ECONOMICS: TAX POLICY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Long Title: ADVANCED TOPICS IN ENERGY ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): (ECON 301 OR ECON 370) AND (ECON 309 OR ECON 446 OR ECON 409 OR ECON 400 OR STAT 400) AND ECON 437

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

Long Title: HEALTH ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Credit Hours: 3

Description: Study of economic aspects of health. Includes production, cost, demand and supply factors; methods of payment and effects of regulation. Graduate/Undergraduate Equivalency: ECON 481. Mutually Exclusive: Cannot register for ECON 565 if student has credit for ECON 481.

Long Title: TOPICS IN FINANCIAL ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

Prerequisite(s): ECON 505

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

Long Title: TOPICS IN MACROECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Seminar

Credit Hours: 3

Description: Discussion topics in macroeconomics. Repeatable for Credit.

Long Title: TOPICS IN ECONOMIC THEORY I

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Long Title: TOPICS IN ECONOMIC THEORY II

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Credit Hours: 3

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

Long Title: TOPICS IN ECONOMETRICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 3

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

Long Title: WORKSHOP IN MICROECONOMICS

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Language of Instruction: Taught in English

Course Type: Seminar

Credit Hours: 1

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

Language of Instruction: Taught in English

Course Type: Seminar

Credit Hours: 1

Description: Continuation of ECON 593. Repeatable for Credit.

Long Title: RESEARCH SEMINAR

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Language of Instruction: Taught in English

Course Type: Seminar

Credit Hours: 3

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

Long Title: READINGS IN ADVANCED TOPICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Independent Study

Credit Hours: 3

Description:  Repeatable for Credit.

Long Title: READINGS IN ADVANCED TOPICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Independent Study

Credit Hours: 3

Description:  Repeatable for Credit.

Long Title: ENERGY ECONOMICS I

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: MICROECONOMICS OF THE ENERGY SECTOR

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: APPLIED ECONOMETRICS FOR ENERGY MARKETS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Credit Hours: 4

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

Long Title: ENERGY ECONOMICS II

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Credit Hours: 4

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

Long Title: TAXATION IN THE ENERGY SECTOR

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: CORPORATE FINANCE FOR THE ENERGY SECTOR

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: THE ECONOMICS OF ENERGY AND THE ENVIRONMENT

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: RISK MANAGEMENT IN THE ENERGY INDUSTRY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture/Laboratory

Credit Hours: 4

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

Long Title: ENERGY AND THE MACROECONOMY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: GEOPOLITICS OF ENERGY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: MANAGEMENT OF PUBLIC POLICY ISSUES BY ENERGY COMPANIES

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: INTERNATIONAL TRADE IN ENERGY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: POLITICAL ECONOMY OF OIL IN DEVELOPING COUNTRIES

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: SOCIAL STUDIES OF ENERGY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: INDUSTRIAL ORGANIZATION AND THE ENERGY SECTOR

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: THE ECONOMICS OF THE ELECTRICITY INDUSTRY

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: TRANSPORTATION ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Lecture

Credit Hours: 4

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

Long Title: INTERNSHIP - ENERGY ECONOMICS

Department: Economics

Grade Mode: Standard Letter

Language of Instruction: Taught in English

Course Type: Internship/Practicum

Credit Hours: 4

Description: Practical work experience for students who have completed all course work.

Long Title: GRADUATE RESEARCH

Department: Economics

Grade Mode: Satisfactory/Unsatisfactory

Language of Instruction: Taught in English

Course Type: Research

Credit Hours: 1 TO 12

Description:  Repeatable for Credit.