Course Requirements
To complete this concentration, students are required to take three graduate-level Economics courses. ECO 509 and ECO 555 are not approved for use as MBA concentration electives (a sample list of acceptable electives is given below). Students are encouraged to consult with Economics faculty for course recommendations.
ECO 505
ADVANCED MICROECONOMICS
An advanced course in microeconomic theory. This course will present a systematic and rigorous analysis of price determination and the allocation of specific resources to particular uses.
Prerequisites:
ECO 555 or admission to the MS-EPA program is a prerequisite for this class.
ECO 506
ADVANCED MACROECONOMICS
An advanced course in macroeconomic theory that examines the determination of income, employment, and prices, and their interrelations. Covers traditional Keynesian as well as alternative models of output, consumption, investment, money demand, inflation and unemployment. The dynamic character of income determination is emphasized, along with effects of government policy, economic institutions, and social goals.
Prerequisites:
ECO 509 or admission to the MS-EPA program is a prerequisite for this class.
ECO 511
BUSINESS AND ECONOMIC FORECASTING
This course surveys a number of quantitative techniques commonly used to forecast business and economic variables. Emphasis will be on techniques, their relative strengths and weaknesses and real-world economic applications. Topics include smoothing techniques, regression and econometric analysis and Box-Jenkins time series.
Prerequisites:
ECO 506 or ECO 509 is a prerequisite for this class.
ECO 512
APPLIED TIME SERIES FORECASTING (CROSS-LISTED AS MATH 512/MATH 358)
Theory and computer implementation of the Box-Jenkins Techniques with emphasis on forecasting business and industrial activity. Crosslisted as MAT 512.
Prerequisites:
ECO 509 and ECO 510 are a prerequisite for this class.
ECO 514
INDUSTRIAL ORGANIZATION
This course is concerned with how the market system directs production decisions under varying deviations from the competitive environment. The links between market structure, conduct and performance are examined. Topics include determinants of market structure, various theories of imperfect competition, price discrimination, predatory pricing, and antitrust policy.
Prerequisites:
ECO 555 or 505
ECO 515
MICROECONOMICS OF MARKET ORGANIZATION
Imperfectly competitive markets are more common than perfectly competitive markets. This course is about the effects of imperfectly competitive market structure on the organization, pricing, product choice, and entry of firms. We will study the acquisition and use of market power, strategic competition across firms, private sector sources of market failure, and the role of governent competition policy. Factor markets will also be discussed.
Prerequisites:
ECO 505 or ECO 555 is a prerequisite for this class.
ECO 516
ECONOMICS OF THE PUBLIC SECTOR I
Application of microeconomic analysis to the role of government in society. The theoretical foundation for the design of an efficient and equitable tax and expenditure program is presented and the impact of such a program on the economy is explored through general equilibrium analysis. Students must have a solid foundation in basic calculus.
Prerequisites:
ECO 555 or 505
ECO 518
LABOR ECONOMICS AND LABOR RELATIONS (CROSS-LISTED AS MGT 518)
A study of the American labor force: measurement, characteristics and behavior under changing income, employment and technology. An examination of recent labor market developments provides the basis for a critical analysis and appraisal of contemporary wage theory. Topics include changes in the labor force, unemployment, wage determination, the minimum wage, internal labor markets, productivity, discrimination, unions and collective bargaining. Cross-listed as MGT 518.
Prerequisites:
ECO 555 or 505
ECO 530
HISTORY OF ECONOMIC THOUGHT
A study of the evolution of the science of economics. Emphasis is on the important contributions made to the field by the great thinkers, starting with the Physiocrats and extending to the work of contemporary institutional and post-Keynesian economists.
Prerequisites:
ECO 555 or 505
ECO 550
REGIONAL AND URBAN ECONOMICS
The course investigates the spatial character of an economic system. The first part of the course is concerned with theories in regional economics, including business and household location theory, urbanization, and regional development. The latter part of the course deals with urban economics, a specialized area concerned with the economic forces behind many urban problems. Topics include the economics of housing, transportation, poverty, crime and urban public finance.
Prerequisites:
ECO 555 or 505
ECO 557
INTERNATIONAL TRADE THEORY & POLICY (CROSS-LISTED WITH IB 520)
Modern theories of international trade: classical theory of comparative advantage, factor proportions theory, factor price equalization, application of welfare economics to international trade, including regional economic integration, commercial policy and tariff problems. Cross-listed with IB 520.
Prerequisites:
ECO 555 or 505
ECO 558
INTERNATIONAL MACROECONOMICS (CROSS-LISTED AS IB 521)
Analyzes traditional macroeconomic issues in a framework that allows for international trade and capital flows. Cross-listed as IB 521.
Prerequisites:
ECO 506 or ECO 509 is a prerequisite for this class.
ECO 561
ECONOMICS OF DEVELOPING COUNTRIES (CROSS-LISTED WITH IB 525)
Introduction to the economist's analytical skills applied to problems of developing and newly industrialized countries. Studies economic theory of development, development policy, and decision-making in the developing world; several case studies are examined.
Prerequisites:
ECO 555 or 505
ECO 576
ADVANCED ECONOMETRICS
The fundamental problems in the application of statistical procedures to econometric estimation will be studied: multicollinearity, identification, serial correlation, and nonhomogeneity of error variance. In addition, more sophisticated estimation techniques will be studies, e.g., reduced-form and multiple-stage regression techniques.
Prerequisites:
ECO 510 or (ECO 507 and ECO 508) are a prerequisite for this class.
ECO 798
SPECIAL TOPICS
Content and format of this course are variable. An in-depth study of current issues in economics. Subject matter will be indicated in class schedule.