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Jason Abrevaya, Chair BRB 1.116, Mailcode C3100, Austin, TX 78712 • 512-471-3211

Course Descriptions

ECO 301 • Introduction To Economics

34090
Meets MWF 200pm-300pm BRB 1.118
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This course will be a mixture of both Micro and Macro Economics.  Students who wish to be an Economics major MAY NOT use this course toward the major and should take ECO 304K and ECO 304L.

  • Students will learn how economists describe and measure the economy, in the aggregate, as well as specific markets such as the labor market, the housing market, financial markets, and international trade.  Concepts for measurement and data will be covered.
  • Students will learn how economists organize their analysis of economic choices by thinking about how individuals (i) respond to incentives, (ii) seek out exchange in markets, and (iii) form, and participate in, various economic institutions.
  • Students will learn how to think about strategic behavior (for example, markets with a small number of firms, or negotiating trade agreements among a small number of countries).
  • Students will learn about “externalities” and “public goods,” which, by conferring costs or benefits that are not appropriated by individuals or that are “non-rival” in nature (for example, once discovered, a technology can be used by many at the same time), provide reasons for government regulation, taxation, and government-provided goods and services.

ECO 301 • Introduction To Economics

34095 • Steward, Dwight
Meets MWF 800am-900am CAL 100
show description

This course will be a mixture of both Micro and Macro Economics.  Students who wish to be an Economics major MAY NOT use this course toward the major and should take ECO 304K and ECO 304L.

  • Students will learn how economists describe and measure the economy, in the aggregate, as well as specific markets such as the labor market, the housing market, financial markets, and international trade.  Concepts for measurement and data will be covered.
  • Students will learn how economists organize their analysis of economic choices by thinking about how individuals (i) respond to incentives, (ii) seek out exchange in markets, and (iii) form, and participate in, various economic institutions.
  • Students will learn how to think about strategic behavior (for example, markets with a small number of firms, or negotiating trade agreements among a small number of countries).
  • Students will learn about “externalities” and “public goods,” which, by conferring costs or benefits that are not appropriated by individuals or that are “non-rival” in nature (for example, once discovered, a technology can be used by many at the same time), provide reasons for government regulation, taxation, and government-provided goods and services.

ECO 304K • Intro To Microeconomics-Honors

34100 • Hamermesh, Daniel S.
Meets TTH 1100am-1230pm BUR 106
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ANALYSIS OF THE ECONOMIC BEHAVIOR OF INDIVIDUAL CONSUMERS, FIRMS, AND WORKERS; SPECIAL ATTENTION TO THE ROLE OF MARKETS.

DESIGNED TO ACCOMMODATE 100 OR MORE STUDENTS.

This course provides an introduction to the theory of how consumers and business firms behave in the market economy. The topics include demand and supply in a competitive market, optimal consumption choice by the individual household given its budget constraint, the producer's costs and output decisions, the demand for labor and other inputs, and economic outcomes under product demand structures ranging from perfect competition to pure monopoly. For specific instructor syllabi and requirements, contact individual instructor.

ECO 304K • Introduction To Microeconomics

34105 • Hickenbottom, Wayne R
Meets MWF 1100am-1200pm SAC 1.402
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ANALYSIS OF THE ECONOMIC BEHAVIOR OF INDIVIDUAL CONSUMERS, FIRMS, AND WORKERS; SPECIAL ATTENTION TO THE ROLE OF MARKETS.

DESIGNED TO ACCOMMODATE 100 OR MORE STUDENTS.

This course provides an introduction to the theory of how consumers and business firms behave in the market economy. The topics include demand and supply in a competitive market, optimal consumption choice by the individual household given its budget constraint, the producer's costs and output decisions, the demand for labor and other inputs, and economic outcomes under product demand structures ranging from perfect competition to pure monopoly. For specific instructor syllabi and requirements, contact individual instructor.

ECO 304K • Introduction To Microeconomics

34110 • Hamermesh, Daniel S.
Meets TTH 1100am-1230pm BUR 106
show description

ANALYSIS OF THE ECONOMIC BEHAVIOR OF INDIVIDUAL CONSUMERS, FIRMS, AND WORKERS; SPECIAL ATTENTION TO THE ROLE OF MARKETS.

DESIGNED TO ACCOMMODATE 100 OR MORE STUDENTS.

This course provides an introduction to the theory of how consumers and business firms behave in the market economy. The topics include demand and supply in a competitive market, optimal consumption choice by the individual household given its budget constraint, the producer's costs and output decisions, the demand for labor and other inputs, and economic outcomes under product demand structures ranging from perfect competition to pure monopoly. For specific instructor syllabi and requirements, contact individual instructor.

ECO 304K • Introduction To Microeconomics

34115 • Hickenbottom, Wayne R
Meets MWF 100pm-200pm WEL 2.224
show description

ANALYSIS OF THE ECONOMIC BEHAVIOR OF INDIVIDUAL CONSUMERS, FIRMS, AND WORKERS; SPECIAL ATTENTION TO THE ROLE OF MARKETS.

DESIGNED TO ACCOMMODATE 100 OR MORE STUDENTS.

This course provides an introduction to the theory of how consumers and business firms behave in the market economy. The topics include demand and supply in a competitive market, optimal consumption choice by the individual household given its budget constraint, the producer's costs and output decisions, the demand for labor and other inputs, and economic outcomes under product demand structures ranging from perfect competition to pure monopoly. For specific instructor syllabi and requirements, contact individual instructor.

ECO 304K • Introduction To Microeconomics

34120 • Sibley, David S
Meets MWF 300pm-400pm UTC 2.102A
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ANALYSIS OF THE ECONOMIC BEHAVIOR OF INDIVIDUAL CONSUMERS, FIRMS, AND WORKERS; SPECIAL ATTENTION TO THE ROLE OF MARKETS.

DESIGNED TO ACCOMMODATE 100 OR MORE STUDENTS.

This course provides an introduction to the theory of how consumers and business firms behave in the market economy. The topics include demand and supply in a competitive market, optimal consumption choice by the individual household given its budget constraint, the producer's costs and output decisions, the demand for labor and other inputs, and economic outcomes under product demand structures ranging from perfect competition to pure monopoly. For specific instructor syllabi and requirements, contact individual instructor.

ECO 304K • Introduction To Microeconomics

34125 • Wiseman, Thomas E
Meets TTH 330pm-500pm UTC 2.112A
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ANALYSIS OF THE ECONOMIC BEHAVIOR OF INDIVIDUAL CONSUMERS, FIRMS, AND WORKERS; SPECIAL ATTENTION TO THE ROLE OF MARKETS.

DESIGNED TO ACCOMMODATE 100 OR MORE STUDENTS.

This course provides an introduction to the theory of how consumers and business firms behave in the market economy. The topics include demand and supply in a competitive market, optimal consumption choice by the individual household given its budget constraint, the producer's costs and output decisions, the demand for labor and other inputs, and economic outcomes under product demand structures ranging from perfect competition to pure monopoly. For specific instructor syllabi and requirements, contact individual instructor.

ECO 304K • Introduction To Microeconomics

34130
Meets MWF 1000am-1100am WAG 420
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ANALYSIS OF THE ECONOMIC BEHAVIOR OF INDIVIDUAL CONSUMERS, FIRMS, AND WORKERS; SPECIAL ATTENTION TO THE ROLE OF MARKETS.

DESIGNED TO ACCOMMODATE 100 OR MORE STUDENTS.

This course provides an introduction to the theory of how consumers and business firms behave in the market economy. The topics include demand and supply in a competitive market, optimal consumption choice by the individual household given its budget constraint, the producer's costs and output decisions, the demand for labor and other inputs, and economic outcomes under product demand structures ranging from perfect competition to pure monopoly. For specific instructor syllabi and requirements, contact individual instructor.

ECO 304L • Introduction To Macroeconomics

34135 • Paal, Beatrix
Meets MWF 1000am-1100am SAC 1.402
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ANALYSIS OF THE ECONOMY AS A WHOLE (ITS ORGANIZATION AND THE BASIC FORCES INFLUENCING ITS GROWTH AND DEVELOPMENT); MONEY AND BANKING, NATIONAL INCOME, PUBLIC FINANCE, AND INTERNATIONAL LINKAGES.

PREREQUISITE: ECONOMICS 304K WITH A GRADE OF AT LEAST C-.

DESIGNED TO ACCOMMODATE 100 OR MORE STUDENTS.

This course is designed to introduce students to the vocabulary, concepts and models of analysis of macroeconomics. We will discuss the behavior of the aggregate economy, particularly the Gross Domestic Product; Consumption; Savings; Investment,Unemployment; Inflation; the role of the Monetary System and and Policy, the role of Taxes, Government Spending and Fiscal Policy; the National Debt and Government Budget Deficits and Surpluses; Exports, Imports and International Trade.

ECO 420K • Microeconomic Theory

34150-34155 • Mathevet, Laurent Alexandre
Meets TTH 930am-1100am UTC 3.132
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A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory

34160-34165 • Boyarchenko, Svetlana
Meets MW 1100am-1230pm UTC 3.124
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A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory

34170-34175 • Mathevet, Laurent Alexandre
Meets TTH 1100am-1230pm UTC 3.132
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A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory

34180-34185 • Oettinger, Gerald S
Meets MW 1230pm-200pm UTC 3.124
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A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory

34190-34195 • Oettinger, Gerald S
Meets MW 200pm-330pm UTC 3.124
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A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 320L • Macroeconomic Theory

34200 • Kehrig, Matthias
Meets TTH 930am-1100am ART 1.120
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THEORY OF THE DETERMINATION OF NATIONAL INCOME, EMPLOYMENT, AND THE PRICE LEVEL, WITH POLICY IMPLICATIONS. REQUIRED OF STUDENTS MAJORING IN ECONOMICS.

PREREQUISITE: ECONOMICS 420K WITH A GRADE OF AT LEAST C-.

The purpose of this course is to further students' understanding of the central ideas of macroeconomics.  We will study long-run economic growth and short-run economic fluctuations.  Once we have a basic understanding of these phenomena, we will discuss the main macroeconomic tools of the government, fiscal policy and monetary policy.  By the end of the semester, students should be able to critically read articles on current economic issues that appear in publications such as The New York Times, The Wall Street Journal, and The Economist.

ECO 320L • Macroeconomic Theory

34205 • Rothert, Jacek
Meets MWF 1000am-1100am WCH 1.120
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THEORY OF THE DETERMINATION OF NATIONAL INCOME, EMPLOYMENT, AND THE PRICE LEVEL, WITH POLICY IMPLICATIONS. REQUIRED OF STUDENTS MAJORING IN ECONOMICS.

PREREQUISITE: ECONOMICS 420K WITH A GRADE OF AT LEAST C-.

The purpose of this course is to further students' understanding of the central ideas of macroeconomics.  We will study long-run economic growth and short-run economic fluctuations.  Once we have a basic understanding of these phenomena, we will discuss the main macroeconomic tools of the government, fiscal policy and monetary policy.  By the end of the semester, students should be able to critically read articles on current economic issues that appear in publications such as The New York Times, The Wall Street Journal, and The Economist.

ECO 321 • Public Economics

34210 • Schneider, Helen
Meets MWF 100pm-200pm BRB 2.136
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STUDY OF APPROPRIATE ALLOCATIONS OF ECONOMIC ACTIVITY BETWEEN GOVERNMENT (FEDERAL, STATE, AND LOCAL) AND THE PRIVATE SECTOR. THE WORKINGS OF SOCIAL SECURITY, WELFARE, EDUCATION, POLLUTION CONTROL, DEREGULATION, TAXATION; AND PROPOSALS FOR REFORM.

PREREQUISITE: ECONOMICS 420K WITH A GRADE OF AT LEAST C-.

Public economics is the study of government taxation and spending. My course differs from a traditional public economics course in three ways. First, it focuses primarily on taxation, with relatively little coverage of government spending. Second, the course focuses less on theory than a typical public economics course. It covers basic theoretical concepts in public economics, but only briefly, and spends much more time on the application of those concepts to analyze issues in real-world tax policy.

ECO 321 • Public Economics

34215 • Cabral, Marika
Meets TTH 330pm-500pm BUR 134
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STUDY OF APPROPRIATE ALLOCATIONS OF ECONOMIC ACTIVITY BETWEEN GOVERNMENT (FEDERAL, STATE, AND LOCAL) AND THE PRIVATE SECTOR. THE WORKINGS OF SOCIAL SECURITY, WELFARE, EDUCATION, POLLUTION CONTROL, DEREGULATION, TAXATION; AND PROPOSALS FOR REFORM.

PREREQUISITE: ECONOMICS 420K WITH A GRADE OF AT LEAST C-.

This course focuses on the application of microeconomic tools to analyze government policy.  The course will cover the basic theoretical concepts underlying government intervention in various contexts, and the application of these concepts to real-world problems.  Some topics that will be covered include the analysis of tax incidence, externalities, public goods, health insurance, social security, and education.

ECO 322 • Money And Banking

34225 • Sadler, Michael
Meets TTH 200pm-330pm BUR 216
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THE ROLE OF MONEY AND DEPOSITORY INSTITUTIONS IN THE ECONOMY; INTRODUCTION TO FINANCIAL AND MONETARY THEORY AND POLICY. ONLY ONE OF THE FOLLOWING MAY BE COUNTED: ECONOMICS 322, FINANCE 354, 354H.

PREREQUISITE: ECONOMICS 420K AND 320L WITH A GRADE OF AT LEAST C- IN EACH.

This course is about economic wealth: its various forms (called assets), the institutions that create, own, and exchange wealth, the government policies that regulate the behavior of these institutions, and the social origins and consequences of these assets, institutions, and policies. Financial assets-including but not limited to money-exist as stores of value, linking the production of goods in the present to the production and consumption of goods in the future. The focus of this course is on the challenge wealth presents to society: the need to ensure thta the public can assess with reasonable accuracy the various rates of return on financial assets. So long as financial assets, on average, meet people's expectations, people will seek to acquire and be willing to hold them. The resulting demand for financial assets is simultaneously a reflection of the public's confidence in them and a principal determinant of their rates of return. The origins and evolution of assets, institutions, and policies may be understood as an endless search for socially effective and privately profitable means of managing the risky task of betting on the future.

ECO 322 • Money And Banking

34230 • Trinque, Brian M
Meets TTH 930am-1100am BRB 2.136
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THE ROLE OF MONEY AND DEPOSITORY INSTITUTIONS IN THE ECONOMY; INTRODUCTION TO FINANCIAL AND MONETARY THEORY AND POLICY. ONLY ONE OF THE FOLLOWING MAY BE COUNTED: ECONOMICS 322, FINANCE 354, 354H.

PREREQUISITE: ECONOMICS 420K AND 320L WITH A GRADE OF AT LEAST C- IN EACH.

This course is about economic wealth: its various forms (called assets), the institutions that create, own, and exchange wealth, the government policies that regulate the behavior of these institutions, and the social origins and consequences of these assets, institutions, and policies. Financial assets-including but not limited to money-exist as stores of value, linking the production of goods in the present to the production and consumption of goods in the future. The focus of this course is on the challenge wealth presents to society: the need to ensure thta the public can assess with reasonable accuracy the various rates of return on financial assets. So long as financial assets, on average, meet people's expectations, people will seek to acquire and be willing to hold them. The resulting demand for financial assets is simultaneously a reflection of the public's confidence in them and a principal determinant of their rates of return. The origins and evolution of assets, institutions, and policies may be understood as an endless search for socially effective and privately profitable means of managing the risky task of betting on the future.

ECO 327 • Comparative Economic Systems

34245 • Trinque, Brian M
Meets TTH 1230pm-200pm BRB 2.136
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THEORIES OF AND PRACTICES IN THE PRINCIPAL TYPES OF ECONOMIC SYSTEMS.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH.

This course is a writing workshop and seminar focusing on economic systems, national and global. The principal objective of the course is to enable your engagement with the scholarly literature on economic systems - that is, to learn how to learn from relevant experts. Secondary course objectives include deepening your understanding of economic systems, exercising your talents in information retrieval and processing, and sharpening your writing skills. Economic transition is an important phenomenon of the 21st century. In a large and expanding number of countries, a transition process is underway or, at least, under discussion. This transition is away from economic systems based on personal authority and inter-personal loyalties toward an economic system based on self-interested and self-reliant competitive struggle under a de-personalized rule of law. Such transitions are altering the global economy and affecting specific societies as diverse as Mexico, Germany, Uganda, Russia, India, and Japan. This course sets aside the contentious debates over the feasibility and desirability of economic transition, attempting instead to understand transition as an historical process. The focus of the course is on two instances of such transition. What caused Great Britain to become the pioneer of transition? What explains the peculiar characteristics of Japan's economic system? In our approach to these specific cases, we examine selected aspects of the evolution of economic systems from ancient times to the present. During the first two-thirds of the semester, lectures will address economic transition as well as practical tips on accessing the literature and composing a coherent term paper. Thereafter, most class meetings will consist of presentations by students of their work-in-progress.

ECO 328 • Industrial Organization

34255 • Sibley, David S
Meets MWF 100pm-200pm PAR 1
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THE ORGANIZATION OF INDUSTRIES AND MARKETS: COMPETITION, MONOPOLY, AND OLIGOPOLY; ANTITRUST POLICY AND ITS ALTERNATIVES.

PREREQUISITE: ECONOMICS 420K WITH A GRADE OF AT LEAST C-.

Industrial Organization is the study of imperfectly competitive markets. In this course, we will analyze the behavior on economic agents (consumers and firms) in such settings, as well as policy issues that arise therein. Topics we will cover include monopoly, oligopoly, product differentiation, entry deterrence, and the role of asymmetric information. Calculus and game theory will be our primary analytical tools. The goal of the course is to develop your understanding of the forces at work in many kinds of market interactions, as well as to foster your ability to think critically.If more information is needed contact instructor.

ECO 329 • Economic Statistics

34260 • Bencivenga, Valerie R.
Meets TTH 330pm-500pm FAC 21
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METHODS OF STATISTICAL ANALYSIS AND INTERPRETATION OF QUANTITATIVE DATA IN THE FIELD OF ECONOMICS. REQUIRED OF ECONOMICS MAJORS.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

Economics 329 is an introduction to Economic Statistics. The aim of the course is to familiarize students with methods of summarizing collections of measurements (data sets) of economic, political and business phenomena. Of particular concern will be an introduction to elementary probability theory and its use in the interpretation of summary statistics (inference) obtained from statistical data sets. A number of economic, political and business applications will be used to illustrate the methods. If more information is needed contact instructor.

ECO 333K • Development Economics

34265 • Linden, Leigh
Meets TTH 1230pm-200pm UTC 3.132
(also listed as URB 351)
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INTRODUCTION TO THEORIES OF ECONOMIC DEVELOPMENT; DISCUSSION OF LEADING ISSUES. ASIAN STUDIES 361 (TOPIC 21: DEVELOPMENT ECONOMICS) AND ECONOMICS 333K MAY NOT BOTH BE COUNTED.

PREREQUISITE: ECONOMICS 420K WITH A GRADE OF AT LEAST C-.

Development economics describes a body of research that explores economic issues within the context of developing countries.  This includes issues macroeconomic topics such as growth, income inequality between and within countries, and monetary policy as well as microeconomic topics such as employment, health, education, and environmental problems. This course will cover a broad range of topics but will focus on microeconomic issues. The goal of the course is to familiarize students with the most pressing issues within development economics and to provide an introduction into current research aimed at resolving them.

ECO 339K • Internatl Trade And Investment

34267 • Rothert, Jacek
Meets MWF 100pm-200pm ART 1.120
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INTERNATIONAL TRADE THEORY, BALANCE OF PAYMENTS, COMMODITY TRADE, INTERNATIONAL FINANCE AND FOREIGN EXCHANGE RATES, FOREIGN INVESTMENTS. ECONOMICS 339K AND INTERNATIONAL BUSINESS 350 MAY NOT BOTH BE COUNTED.

PREREQUISITE: ECONOMICS 420K WITH A GRADE OF AT LEAST C-.

This course will analyze the causes and consequences of international trade and investment, and provide an introduction to the models and data economists use to address these questions. We will investigate why nations trade, what they trade, and who gains from this trade. We will analyze the motives for governments to regulate international trade, and study the effects of such policies on economic welfare, international trade agreements, and some current trade policy disputes. We will then go to the "international investment" part of the course, and study how exchange rates, interest rates, and price levels are determined in an open economy, as well as possible causes of current account deficits and surpluses. We will study how international transactions are recorded in the Balance of Payment of a country. We will spend some time discussing aspects of the current debate on globalization, such as the effects of trade on wages, economic growth and income distribution; multinational firms, foreign direct investment, and outsourcing; the financial crises of the nineties; the use of international labor standards; the interactions between trade and environmental concerns. We will rely on formal economic modeling to help us understand past and current events in the world economy. We will therefore extensively use microeconomics tools that you have learned in previous courses. It is very important that you be familiar with these tools, and feel comfortable using and manipulating them. If you are taking this class, it will be assumed that this is the case. If more information is needed contact instructor.

ECO 339L • International Finance

34270 • Bencivenga, Valerie R.
Meets TTH 200pm-330pm ART 1.120
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HOW FOREIGN EXCHANGE RATES ARE DETERMINED, WHY NATIONAL INTEREST RATES DIFFER, WHY RISK IS INHERENT WHEN TRADING IN INTERNATIONAL FINANCE MARKETS, AND THE ROLE OF INTERNATIONAL ORGANIZATIONS SUCH AS THE INTERNATIONAL MONETARY FUND IN CRISIS MANAGEMENT.

PREREQUISITE: ECONOMICS 420K AND 320L WITH A GRADE OF AT LEAST C- IN EACH.

The typical questions addressed in this class are: Why do countries engage (increasingly) in trade? What factors affect trade flows? Is trade always good for everybody? Should we manage trade flows and if so, do quotas, subsidies and tariffs make sense? What is a balance-of-payments crisis and what happened in 1971-73? How are exchange rates determined, anyways? Who and what factors determine the exchange rate? What role does the Federal Reserve and capital markets play? What are the main characteristics of international capital / financial markets? The class covers the two aspects of trade: real (physical flows, 1/3 of the class) and monetary (exchange rate, money, institutions, policies, 2/3 of the class). We concentrate on theories (normative, long run) as well as on policies (positive, short run). Numerous real-world examples are taken and current policy debates are explored; the illustrations include trade with China, the repercussions of the ongoing world crisis, the value of the dollar… you name it. The objective of the class is to enrich your mind in two ways. First you will learn new definitions, tools, models and the accompanying illustrations. Second you will use those tools to think analytically and critically about the economic situations and issues that surround us. Given the topic and news, class participation and critical thinking are encouraged.

ECO 341K • Introduction To Econometrics

34275 • Kline, Brendan
Meets TTH 1230pm-200pm WAG 420
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INTRODUCES THE STUDENT TO STANDARD REGRESSION PROCEDURES OF PARAMETER ESTIMATION AND HYPOTHESIS TESTING IN ECONOMICS.

PREREQUISITE: ECONOMICS 420K AND 329 WITH A GRADE OF AT LEAST C- IN EACH.

Econometrics is an application of statistical methods to the estimation of economic relationships. Students are expected to have an understanding of both statistics and economic theory. This course reveals how relationships among economic variables are discerned from data. The primary focus of this course is on estimation methodology. If more information is needed contact instructor.

ECO 341K • Introduction To Econometrics

34280 • Trejo, Stephen J.
Meets MW 200pm-330pm UTC 3.122
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INTRODUCES THE STUDENT TO STANDARD REGRESSION PROCEDURES OF PARAMETER ESTIMATION AND HYPOTHESIS TESTING IN ECONOMICS.

PREREQUISITE: ECONOMICS 420K AND 329 WITH A GRADE OF AT LEAST C- IN EACH.

Econometrics is an application of statistical methods to the estimation of economic relationships. Students are expected to have an understanding of both statistics and economic theory. This course reveals how relationships among economic variables are discerned from data. The primary focus of this course is on estimation methodology. If more information is needed contact instructor.

ECO 341K • Introduction To Econometrics

34285 • Black, Sandra E.
Meets TTH 200pm-330pm CPE 2.204
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INTRODUCES THE STUDENT TO STANDARD REGRESSION PROCEDURES OF PARAMETER ESTIMATION AND HYPOTHESIS TESTING IN ECONOMICS.

PREREQUISITE: ECONOMICS 420K AND 329 WITH A GRADE OF AT LEAST C- IN EACH.

Econometrics is an application of statistical methods to the estimation of economic relationships. Students are expected to have an understanding of both statistics and economic theory. This course reveals how relationships among economic variables are discerned from data. The primary focus of this course is on estimation methodology. If more information is needed contact instructor.

ECO 351K • Curr Iss In Business Economics

34290 • Miravete, Eugenio J
Meets MW 1230pm-200pm BRB 1.120
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NEWLY EMERGING PROBLEMS IN BUSINESS AND THE APPROACHES USED FOR STRUCTURING, ANALYZING, AND TREATING THEM.

PREREQUISITE: ECONOMICS 420K WITH A GRADE OF AT LEAST C-.

In this course we will consider how we can use economic principles to analyze actual business problems. We will use a number of business cases to illustrate how classic economic models can be used to understand current business issues, as well as how we can augment simple models to deal with complex business situations. The course is not meant to be a comprehensive cookbook of applications of economics to business problems. The purpose is rather to give students the opportunity to practice making logical economic arguments in the context of examples from the real business world.

ECO 351M • Managerial Economics

34295 • Marble, Sanford C
Meets MWF 300pm-400pm BRB 1.120
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PREREQUISITE: ECO 420K, AND ECO 329 OR M 362K, WITH A GRADE OF AT LEAST C- IN EACH.

The course is about the strategies that firms can use to gain an advantage in markets that are very competitive (such as product/service differentiation, pricing strategies, corporate re-organization, mergers/acquisitions, etc.) Preston McAfee's book mixes theory about the kinds of competitive strategies that are available with examples of how they have been (or are being) used. The case studies provide real world discussions of corporate efforts to apply particular strategies. The case study write-ups give students a chance to focus on how the strategies work in actual practice. The course organization is based on the 'case study method' used in the Harvard Business School. It gives students practical experience in 1) reading and interpreting real world competitive analysis, 2) meeting recurring writing deadlines, 3)presenting material to an informed audience, 4) participating in group projects where their grade depends partly on the work of others, 5) thinking about what an economist can contribute to corporate strategizing. Students seem to enjoy the class, the participation in the presentations is enthusiastic. Also, I've received email from some students of last spring's class saying their use of ideas from the class had made a difference in their job interviews.

ECO 354K • Introductory Game Theory

34300 • Stahl, Dale O
Meets TTH 1100am-1230pm BRB 2.136
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INTRODUCTION TO THE FORMAL STUDY OF INTERDEPENDENT DECISION MAKING. APPLICATIONS OF GAME THEORY INCLUDE PRICING AND ADVERTISING STRATEGIES, LABOR-MANAGEMENT BARGAINING, AND TARIFF NEGOTIATIONS.

PREREQUISITE: ECONOMICS 420K AND 329 WITH A GRADE OF AT LEAST C- IN EACH.

Contact professor for more information.

ECO 363C • Computational Economics

34305-34310 • Kendrick, David A
Meets MW 1200pm-100pm BRB 2.136
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PREREQUISITE: ECONOMICS 420K WITH A GRADE OF AT LEAST C-.

THIS COURSE PROVIDES AN INTRODUCTION TO COMPUTATIONAL ECONOMICS FOR UNDERGRADUATES. IT WILL COVER THE APPLICATION OF COMPUTATIONAL METHODS TO ECONOMIC MODELS IN FIELDS SUCH AS SECTORAL ECONOMICS, ENVIRONMENTAL ECONOMICS, MACROECONOMICS, GROWTH THEORY, AND OTHERS. THE COMPUTATIONAL METHODS WILL INCLUDE BOTH SIMULATION AND OPTIMIZATION APPROACHES AS WELL AS DATABASES. A VARIETY OF COMPUTER LANGUAGES WILL BE USED INCLUDING MATLAB, GAMS AND MATHEMATICA. PREVIOUS KNOWLEDGE IN ECONOMICS, MATHEMATICS, AND COMPUTATIONAL METHODS IS USEFUL THOUGH STRENGTH IN ONE OR TWO OF THESE AREAS CAN MORE THAN ACCOMMODATE FOR LITTLE OR NO BACKGROUND IN ONE OR TWO OF THE OTHERS.

THERE ARE WEEKLY COMPUTER EXERCISES AS WELL AS A TERM PAPER.

ECO 369F • Financial Economics

34315 • Dacy, Douglas C
Meets TTH 200pm-330pm BRB 1.120
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ECONOMIC ANALYSIS OF THE OPERATION OF FINANCIAL MARKETS, INCLUDING ARBITRAGE THEORY, ASSET PRICING, AND CORPORATE FINANCE.

PREREQUISITE: ECONOMICS 420K, 320L, AND 329 WITH A GRADE OF AT LEAST C- IN EACH; ECONOMICS 322 IS RECOMMENDED.

The course covers the general principles of financial economics and lays out the foundation for more specialized courses to be taken in the future. It is built around the foundations of financial economics? the time value of money, asset valuation and risk management. The course specifically deals with optimization over time, discounted cash flow analysis, asset valuation, futures markets, portfolio theory, options pricing, options strategies and capital structure. An emphasis is put on the application of these financial concepts to decisions faced by households and firms.

ECO 376M • Economics Of Life

34320 • Hamermesh, Daniel S.
Meets TTH 200pm-330pm UTC 3.112
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Prerequisite: Economics 420K with a grade of at least C-.

Course number may be repeated for credit when the topics vary.

Economics 376M is a course in personnel economics. We will use economic theory to analyze how profit-maximizing firms make decisions involving human resources. Among the topics to be covered are the following: Neoclassical labor demand theory Recruiting, hiring, and job design Training and investment in workers' human capital Compensation, promotion, and provision of incentives Nonwage job attributes and fringe benefits The first unit of the course, covering neoclassical labor demand theory, will use tools familiar from ECO 420K to analyze how firms determine the number and mix of workers to use in production. In this unit of the course, we will assume that labor markets are perfectly competitive and all agents have perfect information. In much of the rest of the course, we will relax these assumptions. For example, to understand firms' recruiting behavior, we will consider models in which workers have private information about their ability or in which it takes time for firms to locate workers who are good matches with the firm. To understand the consequences of firm-provided training, we will consider models in which a worker's productivity at the current firm grows with job seniority. And to understand how compensation methods and promotion ladders can provide work incentives, we will consider models in which firms cannot observe workers' choices of effort. This course is a writing component course and therefore a large proportion of your course grade will be determined by your performance on various writing assignments.

ECO 378H • Honors Tutorial Course I

34325
Meets
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SUPERVISED INDIVIDUAL READING, RESEARCH, AND WRITING OF A SUBSTANTIAL PAPER ON A SPECIAL TOPIC IN THE FIELD OF ECONOMICS.

PREREQUISITE: UPPER-DIVISION STANDING, ADMISSION TO THE ECONOMICS HONORS PROGRAM, AND CONSENT OF THE HONORS ADVISER.

MAY BE COUNTED TOWARD THE INDEPENDENT INQUIRY FLAG REQUIREMENT.

Hour(s) to be arranged. Restricted enrollment; contact the department for permission to register for this class.

ECO 379C • Individual Conference Course

34330
Meets
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SUPERVISED INDIVIDUAL STUDY OF SELECTED PROBLEMS IN ECONOMICS. MAY NOT BE COUNTED TOWARD THE TWENTY-FOUR SEMESTER HOURS IN ECONOMICS REQUIRED FOR THE MAJOR IN ECONOMICS.

PREREQUISITE: UPPER-DIVISION STANDING AND CONSENT OF INSTRUCTOR. STUDENTS SHOULD ORDINARILY HAVE COMPLETED SIX SEMESTER HOURS OF UPPER-DIVISION COURSEWORK IN ECONOMICS AND COURSEWORK WITH SUPERVISING INSTRUCTOR.

MAY BE COUNTED TOWARD THE INDEPENDENT INQUIRY FLAG REQUIREMENT.

HOUR(S) TO BE ARRANGED. RESTRICTED ENROLLMENT; CONTACT THE DEPARTMENT FOR PERMISSION TO REGISTER FOR THIS CLASS. MAY BE REPEATED FOR CREDIT.

ECO 379H • Honors Tutorial Course II

34340
Meets
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SUPERVISED INDIVIDUAL READING, RESEARCH, AND WRITING OF A SUBSTANTIAL PAPER ON A SPECIAL TOPIC IN THE FIELD OF ECONOMICS.

PREREQUISITE: ECONOMICS 378H.

MAY BE COUNTED TOWARD THE INDEPENDENT INQUIRY FLAG REQUIREMENT.

CONTAINS A SUBSTANTIAL WRITING COMPONENT AND FULFILLS PART OF THE BASIC EDUCATION REQUIREMENT IN WRITING.

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