Undergraduate Course Catalog

Courses Primarily for First-Year and Sophomore Students

ECON 100-BR- Introduction to Problem Solving in Economics Essential tools for being a successful economics student, including interpreting tables, solving algebraic equations, graphing equations, and approaching unfamiliar problems. Preview of economic topics, especially in the context of current events. Open only to students in the Summer Bridge Program.

ECON 101-6 First Year Seminar Topics vary.

ECON 201-0 Introduction to Macroeconomics Scarcity and choice; elements of demand and supply, determinants of aggregate output, employment, inflation, growth, and international balance of payments. Prerequisite: basic algebra and graphing.

ECON 202-0 Introduction to Microeconomics Consumers' and producers' influence on structure of output and prices and distribution of income. Social efficiency in resource allocation. Government impact on allocative efficiency and distributive equity. Prerequisite: 201.

ECON 249-0 Business Strategy Firms’ choices of prices, capacity, location, quality, variety, investment and product innovation when navigating complex economic environments shaped by government policy and inter-firm rivalries. Prerequisites: 202; MATH 220. (Majors and Minors should not take this course, but should take 349 instead.)

ECON 281-0 Introduction to Applied Econometrics Estimation and analysis of a variety of empirical econometric models. Descriptive statistics, univariate regression, multiple regression, simultaneous equations, and forecasting. Prerequisite: 201, 202, MATH 220, STAT 210 or equivalent.

ECON 310-1,2 Microeconomics 1. Consumer behavior and the theory of demand; production, cost, supply functions; choices under uncertainty, insurance; competitive equilibrium; subsidies, taxes, price controls; monopoly and monopsony. Prerequisites: 201, 202, MATH 220. 2. Price discrimination and public utility pricing; monopolistic competition, oligopoly, duopoly models; game theory; factor demands; general equilibrium theory and welfare economics; information theory; externalities and public goods. Prerequisite: 310-1.

ECON 311-0 Macroeconomics Macroeconomics and monetary policy. Behavior of economy as a whole. Income, inflation, unemployment, and growth; consumption, investment, and rate of interest; monetary and fiscal policy. Prerequisites: 201, 202, MATH 220.

Courses Primarily for Sophomore, Junior,and Senior Students

ECON 307-0 Economics of Medical Care Effects of medical care on health; health insurance, public and private demand for medical care, and the market for medical care; regulation of hospitals and physicians; roles of nonprofit and for-profit organizations; technological change. Pre-requisites: 281, 310-1,2.

ECON 308-0 Money and Banking Nature of money and bank credit. Development, functions, and operation of monetary standards and credit systems. Banking and credit policies; price levels. Interrelationships of domestic and foreign monetary systems. Prerequisites: 281, 310-1, 311.

ECON 309-0 Elements of Public Finance Theory and practice of public finance. Welfare aspects of taxation and public expenditure decisions. Budgeting, public investment, external costs and benefits, and public debt. Prerequisites: 281, 310-1,2.

ECON 315-0 Topics in Economic History Topics vary: for example, the decline of European feudalism, Malthusianism, convertibility and free trade, constant wage shares during growth, the origins of the welfare state. Prerequisites: 281, 310-1, 311.

ECON 316-0 Advanced Topics in Macroeconomics Topics may include growth, business cycles, unemployment and search, monetary economics, macroeconomic policy, inter-temporal choice, general equilibrium. Prerequisites: 281, 310-1, 310-2, 311, Math 224 & 230.

ECON 318-0 History of Economic Thought Development of economic thought from the advent of the mercantilists to the formation of current schools of economics. Prerequisites: 281, 310-1,2, 311.

ECON 323-1,2 Economic History of the United States Economic development of the United States with emphasis on changing structure and performance of the economy. 1. Colonial period to 1865. 2. 1865 to the present. Pre-requisites: 281, 310-1, 311.

ECON 324-0 Western Economic History Western European developments, 1750 to the present: demographic, technical, social, and economic change. Prerequisites: 281, 310-1, 311.

ECON 325-0 Economic Growth and Development Macroeconomic aspects of long-term patterns of economic development. The effects of investment, education, population, and technological change on economic growth. Pre-requisites: 281, 310-1,2, 311.

ECON 326-0 The Economics of Developing Countries Structure, performance, and problems of developing economies. Topics may include land use, labor, migration, credit, insurance, and famine. Prerequisites: 281, 310-1,2.

ECON 329-0 Experimental Economics Students will learn about, participate in, and potentially design experiments in order to gain insight into economic theories about decision-making, games, and markets. Prerequisites: 281, 310-1,2.

ECON 330-0 Behavioral Economics Understanding of how humans make choices in economic situations. the incorporation of psychology and/or sociology into economics. Topics may include perceptions, judgment, biases, and social pressure. Prerequisites: 281, 310-1,2.

ECON 331-0 Economics of Risk and Uncertainty Models of decision making under uncertainty. Use of these models to understand economic phenomena such as investment in financial assets, insurance, contracting, and auctions. Prerequisites: 281, 310-1, 310-2, Math 300 or equivalent.

ECON 335-0 Political Economics Social choice theory. Voting theory. The analysis of political motivations and policy outcomes. Application of formal theory to contemporary and historical public policy decisions. Prerequisites: 281, 310-1, 310-2.

ECON 336-0 Analytic Methods for Public Policy Analysis Formulation of objectives, structuring decision problems, choices under uncertainty, interactive decisions, and the impact of organizational structure on project outcomes. Prerequisites: 281, 310-1,2.

ECON 337-0 Economics of State and Local Governments Economic functions and financing of state and local governments in theory and practice; costs and demands for local public services; role of government finance in urban and regional growth. Prerequisites: 281, 310-1,2.

ECON 339-0 Labor Economics Survey of economic problems growing out of employment relationships; theories and processes of wage and employment determination, income distribution, and the role of trade unions and issues of economic security. Prerequisites: 281, 310-1,2, 311.

ECON 340-0 Economics of the Family Application of microeconomic theory to the analysis of family issues: marriage, cohabitation, the decision to have children, divorce, credit and insurance, and legacies. Prerequisites: 281, 310-1,2.

ECON 341-0 Economics of Education The economic analysis of education. Topics include returns to schooling, education and economic growth, education production functions, school financing, vouchers, charter schools, and accountability. Prerequisites: 281, 310-1,2.

ECON 342-0 Economics of Gender Analysis of gender differences in employment, earnings and division of labor in the household. Family, labor market, discrimination, segregation, historical and international conditions, and antidiscrimination legislation. Prerequisites: 281, 310-1,2.

ECON 349-0 Industrial Economics Price and efficiency performance of American industries representative of various types of market structures and practices. Prerequisites: 281, 310-1,2.

ECON 350-0 Monopoly, Competition,and Public Policy Present public policy and unsettled issues with respect to structure and practices of industrial markets; concentration, vertical integration, and forms and effectiveness of competition. Prerequisites: 281, 310-1,2.

ECON 351-0 Law and Economics The impact of judicial decisions and statutory enactments on economic behavior, including corporate law, antitrust and regulation statutes and the way this affects markets. Prerequisites: 281, 310-1,2.

ECON 354-0 Issues in Urban and Regional Economics Factors affecting the spatial distribution of economic activity. Applications of economic analysis to problems of urban areas such as housing markets, zoning restrictions, and racial patterns of employment and housing. Prerequisites: 281, 310-1,2.

ECON 355-0 Transportation Economics and Public Policy The demand for alternative modes by passengers and shippers. Cost of providing transportation, competition, regulation, optimal pricing, subsidies, congestion pricing, and urban transit. Prerequisites: 281, 310-1,2.

ECON 359-0 Economics of Nonprofit Organizations The economic rationale for the non-profit sector in a mixed economy. Topics include the objectives and behavior of non-profit organizations, competition with commercial firms, volunteerism, and charitable donation. Prerequisites: 281, 310-1,2.

ECON 360-1 Foundations of Corporate Finance Theory How corporations allocate resources over time as facilitated by capital markets. Theory of asset evaluation, economic analysis of uncertainty, and capital budgeting and capital structure decisions. Prerequisites: 281, 310-1, 311. (Should not be taken by students who have taken IEMS 326 or CIV_ENG 205 or KELLG_FE 310 or BUS_INST 304. Course was numbered 360-0 prior to Winter Quarter 2014)

ECON 360-2 Investments The range of financial instruments available to investors. Optimal portfolio strategies in bonds and stocks from the perspective of individual and institutional investors. Prerequisites: 360-1 (Should not be taken by students who have taken KELLG_FE 312.)

ECON 361-0 International Trade International and inter-regional trade. Factors influencing trade in goods and services between areas. Reasons for and effects of impediments to trade, such as transport costs, tariffs, quotas, and voluntary export restrictions. Prerequisites: 281, 310-1,2; 311.

ECON 362-0 International Finance Determination of exchange rates, balance of payments, and international asset flows and prices; international transmission of macroeconomic disturbances. Prerequisites: 281, 310-1, 311.

ECON 370-0 Environmental and Natural Resource Economics Externalities and the role of property rights, pollution, waste disposal, common property problems, renewable resource management, nonrenewable resource use and depletion, recyclable resources, water allocation, and management of public lands. Prerequisites: 281, 310-1,2. Students may not receive credit for both Econ 370 and Econ 372 or 373.

ECON 371-0 Economics of Energy  Analysis of the functioning and regulation of electricity, oil  and natural gas  markets.  Includes discussion of competition and environmental concerns.  Pre-requisites: 281, 310-1,2.

ECON 372-0 Environmental Economics Economic analysis of scarcity and incentives explaining environmental issues such as pollution and climate change. Modeling and evaluation of public policy. Pre-requisites: 281, 310-1,2. Students may not receive credit for both Econ 370 and Econ 372.

ECON 373-0 Natural Resource Economics Evaluation of economics models and public policy concerning natural resources such as farming, fisheries, forests, minerals, ores and fossil fuels. Pre-requisites: 281, 310-1,2. Students may not receive credit for both Econ 370 and Econ 373.

ECON 380-1,2 Game Theory 1. Noncooperative game theory, with applications to industrial organization, auctions, and theories of the firm. Prerequisites: 310-1,2; MATH 224 & 230. (Should not be taken by students who have completed MMSS 211-2 or MATH 364.) 2. Cooperative and noncooperative game theory and decision making under uncertainty. Prerequisite: 380-1 or consent of instructor. (Should not be taken by students who have completed MMSS 311-1.)

ECON 381-1,2 Econometrics 1. Probability and distribution theory, statistical inference, simple and multiple regression, specification error and multicollinearity, heteroskedasticity and serial correlation, measurement error, dummy variables. Prerequisites: ECON 310-1 (310-2, 311 recommended); MATH 230, 234, 240 & 314 (or equivalent) 2. Hypothesis testing, estimation with deficient data, distributed lags, panel data, simultaneous equation systems, limited dependent variables. Pre-requisite: 381-1 (310-2, 311 recommended).

ECON 383 Applied Econometrics Methods for using actual data together with modern software to build, assess critically, and interpret econometric models of real world phenomena and policy issues. Prerequisites: 281, 310-1.

ECON 398-1,2 Senior Seminar For students of superior ability. Original research on a topic of interest to the student, culminating in a senior thesis. By department invitation only. Grade of K given in 398-1. Prerequisites: 281; 310-1,2; 311; MATH 224 & 230; at least four 300-level economics electives.

ECON 399-0 Independent Study Advanced work through reading, research, and discussion to build on economics coursework taken by the student. Project to be decided by mutual agreement with a faculty member.