To complete this concentration, students are required to take four graduate-level courses. To be eligible for the Congressional Research Fellowship courses students must earn a grade of B or higher in ECO 555
(or ECO 505
) and ECO 509
(or ECO 506
) and WRD 586
. In addition, students must have instructor consent.
ECONOMICS FOR DECISION-MAKING
This course provides students with an opportunity to apply microeconomic principles to managerial decision-making. These principles include those underlying the theories of consumer choice, production and cost as they relate to decisions made by firms and households. Specific topics include consumer demand analysis and estimation; elasticity; production theory; cost structure and estimation; profit maximization; and the effect of market structure on pricing, output and profit.
GSB 420 is a prerequisite for this class.
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.
ECO 555 or admission to the MS-EPA program is a prerequisite for this class.
BUSINESS CONDITIONS ANALYSIS
This course teaches students how to use available economic data to assess business conditions. This is done by: (1) evaluating the sources and usefulness of data periodically released by government and private sources and (2) developing a macroeconomic framework that the student can use to analyze business conditions. Completion of this course will allow students to understand economic news and relate it to their business or job.
MS in Taxation students are restricted from registering for this class.
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.
ECO 509 or admission to the MS-EPA program is a prerequisite for this class.
WRITING FOR PUBLIC POLICY
Specifically for those admitted to the M.S. in Economics and Public Policy Analysis and M.B.A. in Economic Policy Analysis, this course provides instruction in writing and presentation skills that allow students to communicate research findings to economists, non-economists, business executives, interest groups, and public officials.
Status as an MS in Economics and Public Policy Analysis or MBA in Economic Policy Analysis student is a prerequisite for this class.
RESEARCH METHODS FOR POLICY ANALYSIS I
This course focuses on the tools and techniques used to statistically analyze economic data. We will focus on both theoretical understanding (why do we use such tools and how do they work) and applied understanding (the ability to carry on a research project using these tools). Students will learn Stata, which is the most widely used statistical analysis programming language in Economics. Students will learn the practical skills of how to choose the right tools for the analysis, how to prepare and inspect the data, and how to run an analysis that is robust, can be replicated, and can be understood and used by others - all extremely valuable qualities in real life work.
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.
APPLIED TIME SERIES FORECASTING
Theory and computer implementation of the Box-Jenkins Techniques with emphasis on forecasting business and industrial activity. Crosslisted as MAT 512.
ECO 509 and ECO 510 are a prerequisite for this class.
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.
ECO 555 or 505
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.
ECO 505 or ECO 555 is a prerequisite for this class.
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.
ECO 555 or 505
LABOR ECONOMICS AND LABOR RELATIONS
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.
ECO 555 or 505
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.
ECO 555 or 505
INTERNATIONAL TRADE THEORY & POLICY
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.
ECO 555 or 505
Analyzes traditional macroeconomic issues in a framework that allows for international trade and capital flows. Cross-listed as IB 521.
ECO 506 or ECO 509 is a prerequisite for this class.
ECONOMICS OF DEVELOPING COUNTRIES
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. Cross-listed with IB 525.
ECO 555 or 505
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.
ECO 510 or (ECO 507 and ECO 508) are a prerequisite for this class.