An introduction to economics with emphasis on macroeconomics. Topics include: scarcity and choice, elements of supply and demand, inflation, unemployment, recessions, booms, fiscal and monetary policy, international balance of payments, and budget deficits. Prerequisite: basic algebra and graphing.
An introduction to economics with emphasis on macroeconomics. Topics include: scarcity and choice, elements of supply and demand, inflation, unemployment, recessions, booms, fiscal and monetary policy, international balance of payments, and budget deficits. Prerequisite: basic algebra and graphing.
An introductory course on the fundamentals of microeconomics. The behavior of individuals and firms in deciding on prices and allocation of scarce resources. Topics include: consumer preferences, costs of production, equilibrium prices and output, different market types, potential market failures, and the role of government interventions and public policy. Prerequisite: ECON 201-0.
An introduction to econometrics. The underlying theory of regression and the practical application of these techniques to data sets. Understanding and diagnosing common statistical problems encountered during estimation. Prerequisite: ECON 201-0, ECON 202-0, MATH 220-1, STAT 210-0 or higher level statistics class. All other substitutions (including AP Statistics) must be cleared through the Director of Undergraduate Studies for Economics.
Application of microeconomics to the study of health insurance and the health care sector. Topics include: design and financing of health insurance, public and private demand for medical care, role of competition, regulation of hospitals and physicians, roles of nonprofit and for-profit organizations, and technological change. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Understanding the role of government in the economy in theory and practice. Topics include: structure and implications of various tax instruments, role of public debt, and methods for evaluating government expenditures and programs. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
A more mathematically formal and rigorous treatment of the core concepts of microeconomics introduced in ECON 202-0. Topics include: consumer behavior and the theory of demand, costs of production and the nature of equilibrium in competitive and monopolistic markets. Prerequisites: ECON 201-0, ECON 202-0, MATH 220-1.
The continuation of the intermediate microeconomics sequence provides tools to analyze social wellbeing, social choice, risk and uncertainty, information asymmetries, competitive independencies between firms (game theory), market spillovers and general equilibrium. Prerequisite: ECON 310-1.
A more mathematically formal and rigorous treatment of the core concepts of macroeconomics introduced in ECON 201-0. Topics include: aggregate consumption, inflation, unemployment, growth, international balances between countries, and the role of monetary and fiscal policy. Prerequisites: ECON 201-0, ECON 202-0, MATH 220-1.
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 323-2 Economic History of the United States After 1865
Economic development of the United States with emphasis on changing structure and performance of the economy: 1865 to the present. Prerequisites: ECON 281-0, ECON 310-1, ECON 311-0. ECON 323-1 is not a prerequisite.
Application of experimental methods to study economic questions. Students will learn about, participate in, and potentially design, experiments to gain insight into economic theories about decision-making, games, and markets. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Understanding of how humans make choices in economic situations. The incorporation of psychology and/or sociology into economics to gain deeper insight into economic behavior, to make better predictions, and to generate improved policy prescriptions. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Economic concepts and empirical tools to analyze the design and effects of social policies. Topics include the social safety net, health insurance, minimum wage, and taxation. Prerequisites: Econ 281-0, Econ 310-1, Econ 310-2. SOC_POL 330-0 and ECON 333-0 are taught together; may not receive credit for both. SESP students must register for SOC_POL 330-0.
Economic functions and financing of state and local governments in theory and practice, costs and demands for local public services, and the role of government finance in urban and regional growth. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
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.
Examination of the competitive and cooperative strategies employed by profit-maximizing firms in a wide range of market structures. Topics include: the setting of prices and outputs, product quality and variety, competitive responses, entry barriers, mergers and acquisitions, and relationships with suppliers and distributors. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Application of microeconomic tools to the problems and issues caused by monopoly power in the context of antitrust law, public utility regulation, and intellectual property. Use of economic theory and landmark legal cases to study the purpose and development of policies to mitigate anti-competitive practices, and highlight currently unresolved public policy debates. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Factors affecting the spatial distribution of economic activity within cities and between different regions of a country. Choice of residential and workplace location. Applications of economic analysis to problems of urban areas such as housing markets, zoning restrictions, and racial and social patterns of employment and housing. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
ECON 355 Transportation Economics and Public Policy
Economics of all forms of transportation and the regulatory and public policy environment in which they operate. Topics include: demand by passengers and freight shippers, costs of production, optimal pricing, regulatory interventions, subsidies, evaluation of investment, and dealing with congestion. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
ECON 360-1 Foundations of Corporate Finance Theory
How corporations allocate resources over time as facilitated by capital markets. Topics include: discounting techniques and applications, stock and bond valuation, asset pricing models, diversification and portfolio choice, capital budgeting, and basic option theory. Prerequisites: ECON 281-0, ECON 310-1, ECON 311-0. (May not receive credit for both this course and BUS_INST 304-0. Not for students who have previously taken KELLG_FE 310-0.)
Determination of exchange rates, balance of payments, and international asset flows and prices; international transmission of macroeconomic disturbances. Prerequisites: ECON 281-0, ECON 310-1, ECON 311-0.
Game theory is a collection of mathematical models of interaction among decision makers. It is used widely in understanding economic phenomena. This course will present some of the basic ideas of game theory Prerequisites: ECON 310-1, ECON 310-2, MATH 220-2, MATH 230-1. (Should not be taken by students who have completed MMSS 211-2.)
A preparatory course held prior to the Fall Quarter of the student’s first year. Emphasizing mathematical concepts and results applied in graduate economics courses. Topics include linear algebra, multivariate calculus, constrained optimization and probability theory. Registration is only necessary for students obtaining a combined BA/MA degree in Economics. PhD students should not register.
Theoretical treatment of the behavior of consumers and firms. Topics include: uncertainty, monotone comparative statics, competitive equilibrium, matching, game theory, informational asymmetries, and mechanism design (Required sequence.)
Theoretical methodologies and their application to the study of dynamic economies. Topics include: economic growth and business cycles, the determinants of consumption and investment, and the effects of monetary and fiscal policy. (Required sequence.)
Information imperfections and asymmetries in markets and organizations. The theory and application of mechanism design to markets and contracts. Topics include: modeling information, search, the value of information, games with incomplete information, adverse selection and moral hazard.
Recent contributions to macroeconomics. Topics may include: models with heterogeneous agents, the role of financial markets and of the housing market, models of search and unemployment, the role of market power in good markets, and inequality.
Nonparametric and linear regression, identification, principles of statistical inference, extremum estimators, asymptotic statistical theory, discrete response analysis, and and structural microeconometrics. (Required sequence.)
Advanced theory of identification, estimation, and statistical inference. Topics include: partial identification of probability distributions, the bootstrap, refinements of asymptotic theory, and semi- and nonparametric structural microeconometrics.
STAT 210 Introduction to Probability and Statistics
A mathematical introduction to probability theory and statistical methods, including properties of probability distributions, sampling distributions, estimation, confidence intervals, and hypothesis testing. STAT 210-0 is primarily intended for economics majors. May not receive credit for both STAT 202-0 and STAT 210-0. Prerequisite: strong background in high school algebra (calculus is not required).
