ECO 5301 Microeconomics Theory I (3 semester hours) Modern approaches to
the theory of the firm, the theory of the consumer, and formal relationships
among the various economic functions developed using dual approaches to the
optimization of objectives such as profit maximization, utility maximization,
and cost minimization. Introduction to game theory; and
market analysis through classical/neoclassical and game theoretic approaches.
(3-0) Y
ECO 5302 Macroeconomics Theory I (3 semester hours) This
course introduces the fundamental concepts of macroeconomic analysis. �The classical long-run growth model, Walras� law and model building techniques from a micro-foundation
perspective are covered. �Comparative statistics
are used to analyze the classical and Keynesian models.� Modern Keynesian aggregate supply, rational
expectations and Lucas critique are also examined. �Aggregate consumption and investment behavior
are analyzed from the perspective of the representative agent model. �Unemployment theory is also examined. (3-0) Y
ECO 5309 Mathematical Economics (3 semester hours)
Mathematical tools used in advanced topics model building and in the social and
economic analysis of public policy. (3 0) Y
ECO 5311 Applied Econometrics (3 semester hours) This
course investigates the consequences of relaxing the classical linear
regression model assumptions and explores solutions when the assumptions do not
hold. �Topics include a review of the OLS
basics (including the assumptions, hypothesis testing, multicolinearity, dummy
variables and heteroskedasticity), model specification and selection, GLS,
maximum likelihood estimation, binary choice models, simultaneous equation
models, instrumental variables, and fixed and random effects models. (3-0) Y
ECO 5321 Microeconomic Theory for
Applications (3 semester hours) For MSAE students only.� Modern approaches to the theory of the firm,
the theory of the consumer, and formal relationships among the various economic
functions developed using dual approaches to the optimization of objectives
such as profit maximization, utility maximization, and cost minimization.
Introduction to game theory; and market analysis through classical/neoclassical
and game theoretic approaches.� MSAE
students who intend to enter PhD program in ECO should take ECO 5301. (3-0) Y
ECO
5322 Macroeconomic Theory for Applications (3 semester hours) For MSAE
students only.� Development of
modern macroeconomic theory, including national income accounts and their
relation to input-output tables; classical, Keynesian, and monetarist aggregate
models; behavior hypotheses of consumption, investment, and government;
properties and the role of money and interest; foreign trade and investment;
price rigidity, price flexibility, and employment; wage-price interaction and
inflation; unemployment; and ad hoc stabilization models. MSAE students who
intend to enter PhD program in ECO should take ECO 5302. (3-0) Y
ECO 6109 Econometrics I Lab (1 semester hour) This course uses STATA both as a data analysis tool and a
programming language in econometric analysis.�
The course parallels ECO 6309, Econometrics I, in the topics covered in
econometric data analysis.� May be repeated for credit.�
Corequisite or prerequisite: ECO 6309.� (1-0)
Y
ECO 6307 Microeconomics Theory II (3 semester hours)
General equilibrium theory of markets and welfare economics; discusses the
problems of existence, stability, efficiency, and equity of economic
equilibrium; and introduces social choice and the special problems created by
public goods, externalities, and uncertainty.�
ECO 5301 recommended. (3-0) Y
ECO 6308 Macroeconomics Theory II (3 semester hours) Development of modern
macroeconomic theory, including disequilibrium theory, optimal short-term
stabilization measures, and monetary, fiscal, incomes, and exchange rate
policies; large-scale econometric models; linear and neoclassical growth
models; aggregate distribution theory; money, capital movements, trade, and
growth; optimal growth models; and exhaustible resources and growth.� ECO 5302 recommended (3-0) Y
ECO 6309 Econometrics I (3 semester hours) An
introduction to econometrics, with a development of background concepts in
linear algebra and statistics. The course focuses on estimation, hypothesis
testing, and prediction in the classical linear regression model. Corresponding
large sample issues are considered. General testing principles, such as
likelihood ratio,
ECO 6310 Econometrics II (3 semester hours) This
is the second core course in the econometrics sequence of the economics Ph.D. program.� The course extends the topics covered in the
first course and covers topics such as panel data, simultaneous equations,
maximum likelihood and GMM estimations.�
Discrete choice models, limited dependent variable models and duration
models are also studied. (3-0) Y
ECO 6311 Statistics for Economists (3 semester hours) The
course introduces calculus-based statistical analysis and probability theory,
providing background for econometrics and economic modeling of simple
stochastic processes.� Standard
probability distributions are covered, including Bernoulli, binomial, negative
binomial, hypergeometric, Poisson, normal, gamma, beta, t and F
distributions.� Estimation and hypothesis
testing are discussed.� Introductory
asymptomatic theory, including the Law(s) of Large Numbers and the Central
Limit Theorem, will be covered as well as real-world applications of
probability theory as time permits. (3-0) Y
ECO 6314 Structural Equation and Multilevel
(Hierarchical) Modeling (3 semester hours) An introduction to structural
equation modeling (SEM) and multilevel modeling (MLM), sometimes called
hierarchical linear or mixed modeling. SEM represents a general approach to the
statistical examination of the fit of a theoretical model to empirical data.
Topics include observed variable (path) analysis, latent variable models (e.g.,
confirmatory factor analysis), and latent variable SEM analyses. MLM represents
a general approach to handling data that are nested within each other or have
random components. Topics include dealing with two-level data that may be
cross-sectional, such as students within classes, or longitudinal, such as
repeated observations on individuals, firms, or countries. Prerequisite: ECO
5311 or ECO 6309 or POEC 5316 or consent of instructor. (Same as POEC 6318 Structural
Equation and Multilevel (Hierarchical) Modeling) (3-0) R
ECO 6315 Time Series Econometrics (3 semester hours) This course
examines econometric issues encountered in the analysis of time series data
from a perspective of both estimation and forecasting: various forms of serial
correlation within classical regression models, ARCH and GARCH models,
Box-Jenkins ARIMA models, unit root models and cointegration, and modeling
economic dynamics with VAR and other techniques. Prerequisite: ECO 5311 or ECO
6309 (Same as POEC 7370) (3-0) R
ECO 6316 Spatial Econometrics (3 semester hours) The application of
econometric techniques to the explicit treatment of space (geography) in social
science models. Covers the specification of spatial regression models, estimation
and specification testing. The emphasis is on the application of spatial
econometric methods to an empirical data analysis project. Prerequisite: POEC
5311 or equivalent. (3-0) R
ECO 6321 Financial Economics I (3 semester hours) A course in quantitative
methods for investment analysis, supplemented with detailed descriptions of the
prominent players and the rules of the game which prevail in major
ECO 6322 Financial Economics II (3 semester hours) Continuation of
Financial Economics I. It covers core concepts in portfolio theory within the
mean-variance framework, focusing on the problem of choosing a point on the
efficient set. Additional topics to be covered include the CAPM model,
arbitrage pricing theory, bond analysis, and the basics of the term structure.
(3-0) T
�ECO 6325 Cost Benefit Analysis (3
semester hours) Examines methods for measuring costs and benefits of public
projects and policies, and the application of cost benefit analysis to areas
such as economic development, water resources, recreation, transportation, regulation,
and the environment. (Same as POEC 7304 Cost Benefit Analysis) (3-0) R
ECO 6331 Labor Economics I (3 semester hours) Labor economics is the
branch of economics that deals with how labor markets function. Topics covered
will include labor supply, retirement, wage structure, inequality in earnings,
discrimination, and labor market frictions. This course is one of two courses
in the nonsequential course offerings in graduate labor economics. (3-0) T
ECO 6332 Labor Economics II (3 semester hours) This course continues the
study of theoretical and applied research of labor markets from Labor Economics
I. Topics studied include demand for labor, wage setting institutions, wage
structure, investment in human capital, and labor mobility. Labor Economics I is
not a prerequisite for Labor Economics II. (3-0) T
ECO 6335 Health Economics (3 semester hours) Economic analysis of the
health care industry to explain the demand for and supply of medical care.
Includes analysis of behavior of consumers, producers, and insurers; and public
policies to regulate the industry and to provide services for the various
segments of the population. (3-0) R
ECO 6336 Economics of Education (3 semester hours) This
seminar examines theoretical and empirical writings relating to educational
policy. The issues considered will include the link between educational
achievement and earnings, the role of early childhood, assessments of head
start and pre-school programs, the effectiveness of compensatory education and
tutoring programs, the large and persistent achievement gap between children
from minority and low-income families and those from middle-income Asian and
white families, a critical examination of educational production functions, the
extent and consequences of school segregation, bilingual education programs,
special education programs, international comparisons of student achievement
and schools, school finance and an examination of various school reform
proposals. (Same as POEC 7319 Seminar on Education Policy) (3-0)
R
ECO 6340 Industrial Organization (3 semester hours) Market structure,
firm conduct, and economic performance of business with emphasis on firms�
strategic behavior in price and nonprice competition. Topics include
oligopoly pricing and production decisions, strategic entry deterrence,
location strategies, product differentiation, advertising, research and
development, and the effects of firms� conduct on economic welfare and market
structure. (3-0) T
ECO 6343 Economic Regulation of Business (3 semester hours) Studies the
rationale for, and the history and political-economic results of, government
intervention in markets in the form of (1) direct regulation of prices,
quantity, entry and exit, and product quality in industries (utility,
communication, and transportation), and (2) indirect intervention through
antitrust laws and the regulation of advertising. Government deregulation and
changes in antitrust institutions also are explored. Prerequisite: ECO 5321 or
ECO 5301 or POEC 5307 (Same as POEC 7323 Economic Regulation of Business) (3-0)
T
ECO 6344 Transfer Pricing (3 semester hours) The economics of transfer
pricing of goods, services, and intellectual property traded among units
(divisions or affiliated firms) of a common parent company. Multidivisional
firms and multina�tional enterprises use transfer pricing for coordination of
divisional objectives, allocating internal resources, and maximizing after-tax
profits, among other goals. Governments base firms� tax liability on transfer
prices; so their taxing authorities operate to ensure transfer prices
adequately reflect the value of goods and services, challenging firms�
established transfer pricing if it is deemed necessary. Legal issues and
methods used by private firms and government agencies for establishing transfer
prices are explored. (3-0) T
ECO 6345 Innovation Dynamics and Economic Change (3 semester hours)
Examines patterns and processes of technological and organizational innovation
in technology-intensive industries. Special attention given to
industries in the broad IT-Telecom sector heavily represented in the
ECO 6351 Development Economics (3 semester hours) An
overview of theories of national economic growth and development in the context
of developing countries. This includes macroeconomic models; the role of
financial development, trade, and agriculture; domestic sectoral
policy; human resource development; the environment; poverty. (3-0) R
ECO 6352 World Political Economy (3 semester hours) An overview of the
major economic, social, political and cultural forces that influence the nature
of the international economic and political environment, as well as global
economic and political relations. Topics include: theories of global political economy;
economic and political transformation in
ECO 6355 International Trade (3 semester hours) Provides
a broad overview of theory and evidence concerning international trade, direct
foreign investment and trade policy. Topics include scale economies, imperfect
competition, and product differentiation, trade dynamics, economic growth,
trade policies, and the political process. (3-0) R
ECO 6356 International Finance (3 semester hours) Financial
aspects of growth and income determination in open economies. Specific topics
include financial risk in the international setting; money and exchange rate
regimes; income determination and macroeconomic policy; history of
international monetary arrangements, and current issues in international
monetary reform. (3-0) R
ECO 6358 Population and Development (3 semester hours) Examines the relations between population, resources,
economic development, and the environment in light of conflicting Malthusian
and anti Malthusian paradigms. Topics include fertility, mortality, public
health, human capital, use of resources, and environmental impacts at local,
regional, and global scales. (Same as POEC 6368 Population and Development)
(3-0) R
ECO 6361 Public Sector Economics (3 semester hours) Examines
the economic role of government in a mixed economy. Surveys
why markets may fail and explores governmental strategies of intervention in
light of these failures. Expenditure and tax policies are studied with
attention to effects on both efficiency and distribution. (3-0) T
ECO 6362 Industry, Technology, and Science Policy (3 semester hours) An examination of the bi-directional relationship of science
and technology to the economy and society. Topics include: the nature of
technology; technology as magic � the technological fix; technological
progress, productivity and global industrial competitiveness; the economic and
social shaping of science and technology; the role of government policy; human
fallibility and dangerous technology; appropriate technology and economic
development; and science, technology and the environment. (Same as POEC 6353
Industry, Technology, and Science Policy) (3-0) T
ECO 6371 Urban Economics (3 semester hours) Presents methods and models
for understanding urban growth and development processes. Topics include
analysis of urban growth, land use patterns, transportation and local public
good delivery systems. Welfare consequences of various urban policy options are
explored. (Same as POEC 6341 Urban Development) (3-0) R
ECO 6372 Local Economic Development (3 semester hours) Examines the role of local governments in promoting economic
development in the
ECO 6380 Experimental Economics I (3 semester hours) Introduction to the
methodology of laboratory experimental economics, including principles of
experimental design, development of effective protocols, research with human
subjects, and statistical analysis of experimental data, designing experiments
to test theory, experimental measurement of preferences and attitudes, and
market and institutional �wind-tunnel� design.�
Prequisites: ECO 5301 and ECO 6309, or
instructor�s permission. (3-0) T
ECO 7311 Special Topics in Applied Econometrics (3 semester hours)
Topics vary from semester to semester. May be repeated for
credit to a maximum of 9 hours. However, students may not take more than
3 hours of the field requirement from ECO 7311. (3-0) R
ECO 7321 Special Topics in Human Resources (3 semester hours) Topics
vary from semester to semester. May be repeated for credit to
a maximum of 9 hours. However, students may not take more than 3 hours
of the field requirement from ECO 7321. (3-0) R
ECO 7331 Special Topics in Industrial Organization (3 semester hours)
Topics vary from semester to semester. May be repeated for
credit to a maximum of 9 hours. However, students may not take more than
3 hours of the field requirement from ECO 7331. (Same as POEC 7329 Special
topics in Industry and Public Policy) (3-0) R
ECO 7341 Special Topics in International Development (3 semester hours)
Topics vary from semester to semester. May be repeated for
credit to a maximum of 9 hours. However, students may not take more than
3 hours of the field requirement from ECO 7341. (3-0) R
ECO 7351 Special Topics in Public Policy (3 semester hours) Topics vary
from semester to semester. May be repeated for credit to a
maximum of 9 hours. However, students may not take more than 3 hours of
the field requirement from ECO 7351. (3-0) R
ECO 7391 Special Topics in Economics (3 semester hours) Topics vary from
semester to semester. (May be repeated for credit to a
maximum of 9 hours.) R
ECO 7V01 Survey/Research Seminar (3 or 6 semester hours) Students
registering for this seminar work towards the completion of their literature
survey or their research project. Oral presentations and
progress reports, as well as a presentation of the final product. [3-6]-0
R
ECO 7V02 Research in Economics (Variable number of semester
hours) Topics vary from semester to semester. �May be repeated for credit.� Prerequisite: Consent- of Instructor. [1-9]-0
R
ECO 8V01 Dissertation Seminar (Variable number of
semester hours) A seminar for students preparing proposals or writing
dissertations. Prerequisite: Successful completion of qualifying examination or
consent of instructor. May be repeated for credit.
(Same as POEC 8398 Dissertation Seminar) ([3-9]-0)
ECO 8V02 Dissertation (Variable number of semester hours) Provides
faculty supervision of a student�s dissertation research. May
be repeated for credit. Prerequisite: Consent of instructor. ([1-9]-0) Y
ECO 8V97 Internship
(3-6 semester hours) Provides faculty supervision for a student�s
internship.� Interships
must be related to the student�s course work.�
Internships are mainly intended for terminal MSAE students.� Prerequisite: Consent of Intructor
( [1-9] � 0) R