ECON 1113
(S)The Economics of Social Issues.
Issues-oriented approach. Basic economic principles introduced and developed through study of important social issues: for example, inflation, unemployment, poverty, discrimination, crime, population growth and environmental quality. Develops the economist's approach to social problems, and evaluates the contribution of economics to their solution. No credit for students with prior credit in 2103 or 2203. No general education credit for students also taking ECON 2103 or AGEC 1114.

ECON 2103
(S)Introduction to Microeconomics.
Prerequisite: 15 credit hours. Goals, incentives and outcomes of economic behavior with applications and illustrations from current social issues: operation of markets for goods, services and factors of production; the behavior of firms and industries in different types of competition; income distribution; and international exchange. No general education credit for students also taking ECON 1113 or AGEC 1114.

ECON 2203
Introduction to Macroeconomics.
Prerequisite: 2103 or AGEC 1114. The functioning and current problems of the aggregate economy: determination and analysis of national income, employment, inflation and stabilization; monetary and fiscal policy; and aspects of international interdependence.

ECON 3010
Special Topics in Economics. 1-3 credits, maximum 9.
Prerequisites: 2203, prior approval of instructor. Analysis of a contemporary topic in economics. Course content will vary to reflect changing social issues and trends in applied economics.

ECON 3023
Managerial Economics.
Prerequisite: 2103. Application of economic theory and methodology to decision problems of private industry, nonprofit institutions and government agencies; demand and cost analysis, forecasting, pricing and investment.

ECON 3113
Intermediate Microeconomics.
Prerequisite: 2103. How the market system organizes economic activity and an evaluation of its performance. Principles of price theory developed and applied to the interactions of consumers, producers and resource owners in markets characterized by different degrees of competition.

ECON 3123
Intermediate Macroeconomics.
Prerequisite: 2203. Development of a theoretical framework for studying the determinants of national income, employment and general price level. National income accounting, consumption, investment, government spending and taxation, the supply of and demand for money. Monetary, fiscal and incomes policies considered with regard to unemployment, inflation and economic growth.

ECON 3213
Game Theory and Experimental Economics.
Prerequisite: three credit hours in economics. The fundamentals of strategic
actions presented in a game theory context and the validation of these ideas with economic experiments.

ECON 3313
Money and Banking.
Prerequisite: 2203. The economics of money and banking. Operations of commercial banks and structure and competition of the banking industry. Organization and operation of the Federal Reserve System and its effects on interest rates, employment and prices. An introduction to monetary economics and international banking concludes the course.

ECON 3423
(S)Public Finance.
Prerequisite: 3 credit hours in economics. The economics of the government sector. Scope of government activity, efficiency in government expenditures, federal budget, fiscal and debt management policy. Principles of taxation. Major tax sources, tax distribution, tax issues. Current public finance problems such as revenue sharing, negative income tax, urban transport systems and national health insurance.

ECON 3513
(S)Labor Economics and Labor Problems.
Prerequisite: 3 credit hours in economics. Economic analysis of contemporary labor market problems and survey of U.S. unionism. The labor force, education and training. discrimination, inflation and unemployment theories of the labor movement, economic impact of unions and public policy toward labor.

ECON 3523
(S)Economics of Health Care and Social Security.
Prerequisite: 3 credit hours in economics. Examination of the long-run budget problems created by an aging society and evaluation of policies designed to solve them, with a focus on Medicare, Medicaid, and Social Security.

ECON 3613
(I,S)International Economic Relations.
Prerequisite: 3 credit hours in economics. International trade and finance; international economic organizations; the foreign economic policy of the U.S.

ECON 3713
(S)Government and Business.
Prerequisite: 3 credit hours in economics. Methods of measuring the extent of monopoly power in American industries and ways of evaluating the effects of this power on consumer welfare. U.S. antitrust laws, their enforcement and landmark court decisions under these laws.

ECON 3723
The Economics of Sport.
Prerequisite: 2103. Using economic analysis to understand the world of professional and amateur sport. Emphasis will be on economic decision making relevant to the teams, leagues, and institutions in the world of sport.

ECON 3813*
Development of Economic Thought.
Prerequisite: 3 credit hours in economics. The ideas of great economists with emphasis upon economic concepts and systems of thought in relation to social, ethical and political ideas under evolving historical conditions.

ECON 3823
(S)American Economic History.
Economic development and economic forces in American history; emphasis upon industrialization
and its impact upon our economic society since the Civil War. Same course as HIST 4513.

ECON 3903
(S)Economics of Energy and the Environment.
Prerequisite: 2103. Issues related to the development and use of energy resources, and the management of the natural environment.

ECON 4213
Econometric Methods.
Prerequisites: 2203, STAT 3013 or 4013. Basic quantitative methods used in economic analysis emphasizing applications to economic problems and interpretation of empirical results. Statistical analyses, regression and forecasting techniques using computer programs.

ECON 4223*
Business and Economic Forecasting.
Prerequisites: 2203; STAT 3013 or 4013. Forecasting business and economic variables. Regression models and time series models such as exponential smoothing models, seasonal models, and Box-Jenkins models. Evaluation of methods and forecasting accuracy. Application of methods using computer programs.

ECON 4643
(I,S)International Economic Development.
Prerequisite: 3 credit hours in economics. Problems of underdeveloped economics related to the world economy; obstacles to economic growth and policies for promoting growth.

ECON 4713*
Economics of Industries.
Prerequisite: 2103. Industrial organization of major U.S. industries. The structure-conduct-performance paradigm is used to evaluate how costs and concentration interact with pricing, marketing and R&D decisions to affect industry profitability, technological progress, and the efficient allocation of resources. Case studies included.

ECON 4723*
Economic Analysis of Law.
Prerequisite: 3 credit hours in economics. Use of economic analysis to explain why certain laws exist and to evaluate the effects of various alternative rules of law on economic efficiency and behavior. Emphasis on the economics of the common law areas of property, contracts, and torts. Also, products liability, crime and punishment, distributive justice, and discrimination.

ECON 4823
Comparative Economic Systems.
Prerequisite: 2203. Comparative analysis of the economic theory and institutions of capitalism,
socialism, and mixed systems.

ECON 4913*
Urban and Regional Economics.
Prerequisite: three hours economics. Urban and regional economics; the spatial aspects of poverty, land use, the urban environment and rural industrial development.

ECON 4993
Economics Honors Thesis.
Prerequisites: departmental invitation, senior standing, Honors Program participation. A guided reading and research program ending with an honors thesis under the direction of a faculty member, with second faculty reader and oral examination. Required for graduation with departmental honors in economics.

ECON 5000*
Research and Thesis. 1-6 credits, maximum 6.
Workshop for the exploration and development of research topics. Research leading to the master's thesis.

ECON 5003*
Research Report.
Prerequisite: consent of committee chairperson. Supervised research for M.S. report.

ECON 5010*
Research and Independent Studies. 1-3 credits, maximum 10. 
Prerequisite: consent of departmental committee under a workshop arrangement or supervised independent studies.

ECON 5013*
Contemporary Environmental Policy.
Economic, social and political factors that influence the formation and implementation of environmental policy. Environmental policy instruments (including pollution taxes, standards and marketable pollution permits), measurement of environmental damages and risk. Risk comparison, regulatory issues, health risk assessment, and risk communication. Political-economic considerations.

ECON 5033*
Macroeconomic Analysis.
Prerequisite: three hours of economics or consent of instructor. Study of the determinants of aggregate output, employment, price level, and interest rates, including international aspects. Monetary, fiscal, and exchange rate policies and impact on the macroeconomy and business environment. No credit for Ph.D. students in economics.

ECON 5113*
Managerial Economics.
Economic theory applied to business decision making. Concepts of microeconomics and macroeconomics related to understanding the economic system, analysis of policy, forecasting, and international economics. No credit for Ph.D. students in economics.

ECON 5123*
Microeconomic Theory I.
Prerequisites: 3113. Contemporary price and allocation theory with emphasis on comparative statics.

ECON 5133*
Macroeconomic Theory I.
Prerequisites: 3123. National income, employment and the price level from the point of view of comparative statics.

ECON 5213*
Introduction to Econometrics.
Prerequisites: STAT 3013 or equivalent; consent of instructor. Introductory course in econometric
regression analysis for first year graduate students in economics, business and agricultural economics. A review of basic probability and statistics, linear regression with one or more explanatory variables, binary dependent variables regression, instrumental variables regression,
the use of panel data, and program evaluation. Assessment of the internal validity of estimated models.

ECON 5223*
Mathematical Economics I.
Prerequisites: 3113, MATH 2265 or equivalent. Mathematical concepts of single variable and multivariate calculus, topological properties of Euclidean space, convergence, linear algebra, optimization theory and the Kuhn-Tucker Theorem with applications from economic theory.

ECON 5243*
Econometrics I.
Prerequisite: 4213 or STAT 4043. Theory and application of econometrics to economic problems. Topics include OLS, GLS, distributed lags, serial correlation, heteroske-dasticity, and simultaneous equations.

ECON 5313*
Monetary Economics I.
Contemporary issues in monetary theory and policy. Demand for money and supply of money theory, interest rate theory and issues in monetary policy.

ECON 5413*
Economics of the Public Sector I.
Allocation and distribution effects as well as incidence of governmental budget policies.

ECON 5433*
Economics of the Public Sector II.
Fiscal policy as a means of promoting economic stabilization and growth.

ECON 5543*
Labor Market Theory and Analysis.
Prerequisites: 5123 and 5223. A critical evaluation of the theoretical literature dealing with labor market processes, including labor supply and demand, the investment in human capital, discrimination, and unemployment.

ECON 5613*
International Finance.
Open economy macro-economics and the role of devaluation, fiscal and monetary policy in the open economy, monetary approach to the balance of payments, portfolio balance and asset market approaches to the determination of exchange rates.

ECON 5623*
Economic Development I.
Characteristics and problems of less-developed countries. Criteria of growth and development with emphasis on strategies for development. The role of capital, labor, technological progress and entrepreneurship. Growth models.

ECON 5633*
International Trade.
International trade and commercial policy. Comparative advantage, general equilibrium and modern trade theories; welfare implications of international resource allocation models; the theory of protection and international interdependence.

ECON 5643*
Economic Development II.
Major problems of development policy. Inflation and mobilization of capital, investment criteria, agriculture, foreign trade, population and manpower, planning and programming methods.

ECON 5703*
The Economics of Organization and Competitive Advantage.
Prerequisite: 3113 or 5113 or consent of instructor. An analysis of organizational architecture (the assignment of decision-making rights, performance evaluation, and reward systems within an organization). An appropriate architecture to give an organization a competitive advantage and to help an organization develop prowess in innovation and reputation, providing other sources of competitive advantage.

ECON 5713*
Industrial Organization I.
Organization and operation of the enterprise sector of a free enterprise economy; interrelations of market structure, conduct and performance; public policies affecting these elements.

ECON 5723*
Industrial Organization II.
Alternative market structures and their relationships to market performance; the empirical evidence concerning these. Public policies toward business, including emphasis on U.S. antitrust laws and economic analysis of their enforcement; theories of public utility regulation.

ECON 5903*
Regional Economic Analysis and Policy.
Selected topics in location theory, regional economic growth and policies toward regional development in the U.S.

ECON 5913*
Urban Economics.
The urban area as an economic system. Problems of economic policy in urban environment.

ECON 6000*
Research and Thesis. 1-12 credits, maximum 30.
Prerequisite: approval of advisory committee. Workshop for the exploration and development of research topics. Research leading to the Ph.D. dissertation.

ECON 6010*
Seminar in Economic Policy. 1-3 credits, maximum 6.
Intensive analysis of selected problems in economic policy. Individual research, seminar reports and group discussion of reports.

ECON 6113*
Seminar in Economic Theory.
Microeconomics.

ECON 6123*
Seminar in Economic Theory.
Macroeconomics.

ECON 6133*
Microeconomic Theory II.
Prerequisite: 5123. Contemporary price and allocation theory with emphasis on general equilibrium
analysis. Welfare economics.

ECON 6143*
Macroeconomic Theory II.
Prerequisite: 5133. National income, employment and the price level from the point of view of dynamics. Growth models.

ECON 6243*
Econometrics II.
Prerequisite: 5243. Advanced econometric theory covering single and simultaneous equations models, seemingly unrelated regressions, limited dependent variable models, causality, and pooled models.

ECON 6313*
Monetary Economics II.
Intensive analysis of classical monetary theory and individual research on selected problems in monetary economics. The ideas of Patinkin, Wicksell, Fisher and Keynes.

6803*
History of Economic Thought.
Economic theories from the 18th century until the present with emphasis on the origin and improvement of analytical tools.

5313*
Monetary Economics I.
Contemporary issues in monetary theory and policy. Demand for money and supply of money theory, interest rate theory and issues in monetary policy.

5413*
Economics of the Public Sector I.
Allocation and distribution effects as well as incidence of governmental budget policies.

5433*
Economics of the Public Sector II.
Fiscal policy as a means of promoting economic stabilization and growth.

5543*
Labor Market Theory and Analysis.
Prerequisites: 5123 and 5223. A critical evaluation of the theoretical literature dealing with labor market processes, including labor supply and demand, the investment in human capital, discrimination, and unemployment.

5613*
International Finance.
Open economy macro-economics and the role of devaluation, fiscal and monetary policy in the open economy, monetary approach to the balance of payments, portfolio balance and asset market approaches to the determination of exchange rates.

5623*
Economic Development I.
Characteristics and problems of less-developed countries. Criteria of growth and development with emphasis on strategies for development. The role of capital, labor, technological progress and entrepreneurship. Growth models.

5633*
International Trade.
International trade and commercial policy. Comparative advantage, general equilibrium and modern trade theories; welfare implications of international resource allocation models; the theory of protection and international interdependence.

5643*
Economic Development II.
Major problems of development policy. Inflation and mobilization of capital, investment criteria, agriculture, foreign trade, population and manpower, planning and programming methods.

5703*
The Economics of Organization and Competitive Advantage.
Prerequisite: 3113 or 5113 or consent of instructor. An analysis of organizational architecture (the assignment of decision-making rights, performance evaluation, and reward systems within an organization). An appropriate architecture to give an organization a competitive advantage and to help an organization develop prowess in innovation and reputation, providing other sources of competitive advantage.

5713*
Industrial Organization I.
Organization and operation of the enterprise sector of a free enterprise economy; interrelations of market structure, conduct and performance; public policies affecting these elements.

5723*
Industrial Organization II.
Alternative market structures and their relationships to market performance; the empirical evidence concerning these. Public policies toward business, including emphasis on U.S. antitrust laws and economic analysis of their enforcement; theories of public utility regulation.

5903*
Regional Economic Analysis and Policy.
Selected topics in location theory, regional economic growth and policies toward regional development in the U.S.

5913*
Urban Economics.
The urban area as an economic system. Problems of economic policy in urban environment.

6000*
Research and Thesis. 1-12 credits, maximum 30.
Prerequisite: approval of advisory committee. Workshop for the exploration and development of research topics. Research leading to the Ph.D. dissertation.

6010*
Seminar in Economic Policy. 1-3 credits, maximum 6.
Intensive analysis of selected problems in economic policy. Individual research, seminar reports and group discussion of reports.

6113*
Seminar in Economic Theory.
Microeconomics.

6123*
Seminar in Economic Theory.
Macroeconomics.

6133*
Microeconomic Theory II.
Prerequisite: 5123. Contemporary price and allocation theory with emphasis on general equilibrium
analysis. Welfare economics.

6143*
Macroeconomic Theory II.
Prerequisite: 5133. National income, employment and the price level from the point of view of dynamics. Growth models.

6243*
Econometrics II.
Prerequisite: 5243. Advanced econometric theory covering single and simultaneous equations models, seemingly unrelated regressions, limited dependent variable models, causality, and pooled models.

6313*
Monetary Economics II.
Intensive analysis of classical monetary theory and individual research on selected problems in monetary economics. The ideas of Patinkin, Wicksell, Fisher and Keynes.

6803*
History of Economic Thought.
Economic theories from the 18th century until the present with emphasis on the origin and improvement of analytical tools.