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COLLEGE OF ARTS & SCIENCES
ECONOMICS

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ECON 200 Introduction to Microeconomics (5) I&S, QSR
Analysis of markets: consumer demand, production, exchange, the price system, resource allocation, government intervention. Recommended: MATH 111. Offered: AWSpS.
MyPlan Course Details: ECON 200 (student access only)

ECON 201 Introduction to Macroeconomics (5) I&S, QSR
Analysis of the aggregate economy: national income, inflation, business fluctuations, unemployment, monetary system, federal budget, international trade and finance. Prerequisite: ECON 200; recommended: MATH 111. Offered: AWSpS.
MyPlan Course Details: ECON 201 (student access only)

ECON 230 Economics of Fisheries and Oceans (5) I&S/NW, QSR C. ANDERSON
Examines how and why people and businesses make choices that lead to over-fishing, hypoxic zones, and oil spills in aquatic environments. Applies economic principles to understand how alternative policies might change these decisions, and how distributional effects influence politically feasible solutions. Offered: jointly with FISH 230; Sp.
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ECON 235 Introduction to Environmental Economics (5) I&S/NW Rabotyagov
Introduces environmental and natural resource economics. Discusses fundamental economic concepts, including markets and private property. Includes basic tools used in the economic assessment of environmental problems and applies these methods to key environmental issues. Offered: jointly with ENVIR 235/ESRM 235; Sp.
MyPlan Course Details: ECON 235 (student access only)

ECON 299 Study Abroad: Economics (3-5, max. 10) I&S
Lower-division economics courses taken for which there are no direct University of Washington equivalents, taken through a University of Washington study abroad program.
MyPlan Course Details: ECON 299 (student access only)

ECON 300 Intermediate Microeconomics (5) I&S
Analysis of decisions by individuals and by firms and of outcomes in factor and product markets. Policy issues and applications. Prerequisite: ECON 200; either MATH 112, MATH 124, MATH 127, MATH 134, or MATH 145. Offered: AWSpS.
MyPlan Course Details: ECON 300 (student access only)

ECON 301 Intermediate Macroeconomics (5) I&S
Analysis of the determinants of the aggregate level of employment, output, prices, and income of an economy. Policy issues and applications with special reference to current monetary and fiscal policy. Prerequisite: minimum grade of 2.0 in ECON 201; 2.0 in ECON 300. Offered: AWSpS.
MyPlan Course Details: ECON 301 (student access only)

ECON 315 Study Abroad: Economics (3-5, max. 10) I&S
Upper-division economics courses for which there are no direct University of Washington equivalents, taken through a University of Washington study abroad program.
MyPlan Course Details: ECON 315 (student access only)

ECON 382 Introduction to Econometrics (5) NW
Applies statistical methods to economic data: estimating economic relationships using regression analysis and testing hypotheses involving economic behavior. Uses econometric software. Open to economics majors only. Cannot be taken for credit if ECON 482 taken previously. Prerequisite: minimum grade of 2.0 in ECON 300.
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ECON 399 Economics Internship (1-5, max. 10)
Academic work completed in conjunction with an economics-related internship. Faculty supervision required. Does not apply toward major. Credit/no-credit only.
MyPlan Course Details: ECON 399 (student access only)

ECON 400 Advanced Microeconomics (5) NW
Explores the rigorous development of mathematical models used by economists to explain the behavior of consumers, firms, and markets. Topics include comparative statics for consumption theory, duality in production, and decision-making under uncertainty. Prerequisite: minimum grade of 2.0 in ECON 300; MATH 126; recommended: minimum grade of 3.0 in ECON 300.
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ECON 401 Advanced Macroeconomics (5) NW
Application of mathematics to macroeconomics. Possible topics include economic dynamics and growth, rational expectations, real business cycle models, and New Keynesian approach. Prerequisite: minimum grade of 2.0 in ECON 301; either MATH 126, MATH 129, or MATH 136; recommended: minimum grade of 3.0 in ECON 301.
MyPlan Course Details: ECON 401 (student access only)

ECON 402 Microeconomics: Methods and Applications (5) I&S
Generalizations and extensions of the course models of competition and monopoly taught in ECON 300. Topics may include: factor markets and effects of monopoly power; game theory and oligopoly theory; decision making over time; uncertainty and under asymmetric information; contracts and incentives. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 402 (student access only)

ECON 403 The Economics of Property Rights (5) I&S
Property rights as an economic concept. Delineation of rights as a subject of optimization. Formation of contracts to maximize the value of personal property. Formation of organizations to induce efficient use of resources and minimize losses to public domain. Prerequisite: minimum grade of 2.0 in ECON 300; recommended: two 400-level microeconomics classes.
MyPlan Course Details: ECON 403 (student access only)

ECON 404 Industrial Organization and Price Analysis (5) I&S
Analysis of firm behavior in imperfectly competitive markets. Topics include monopoly, oligopoly, product differentiation, entry deterrence, and the role of asymmetric information. Game theoretic tools and empirical evidence used to analyze topics. Prerequisite: minimum grade of 2.0 in ECON 300; recommended: ECON 485.
MyPlan Course Details: ECON 404 (student access only)

ECON 405 Analytical Framework for Policy and Decisions (5) NW
Explores how insights form economics and finance can be used to design policies and formulate strategies to solve important real-life problems. Covers a variety of analytics and computational techniques, particularly those directed toward dynamics, uncertainty, and interactive decision problems. Prerequisite: MATH 307; ECON 301; either ECON 400 or ECON 401; either ECON 382, ECON 424, ECON 482, or ECON 483.
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ECON 406 Undergraduate Seminar in Economics (5, max. 10) I&S
Provides the undergraduate student an opportunity to apply the tools of economic analysis in a critical examination of theoretical and empirical work. A list of topics is available in the departmental office. Prerequisite: ECON 200.
MyPlan Course Details: ECON 406 (student access only)

ECON 409 Undergraduate Seminar in Political Economy (5, max. 10) I&S
Seminar in political economy with focus on Marxian and public choice approaches to political economy. Explores the questions raised by each approach, the assumption(s) and testability of hypotheses, and applies these approaches to a number of problems in political economy. Recommended: ECON 300; POL S 270. Offered: jointly with POL S 409.
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ECON 415 Study Abroad: Economics (3-5, max. 10) I&S
Upper-division economics courses for which there are no direct University of Washington equivalents, taken through a University of Washington study abroad program.
MyPlan Course Details: ECON 415 (student access only)

ECON 421 Money, Credit, and the Economy (5) I&S
Role of money and the banking system in the United States economy. Relation of money to inflation, interest rates, and business fluctuations. Monetary policy and Federal Reserve System. Prerequisite: minimum grade of 2.0 in ECON 301.
MyPlan Course Details: ECON 421 (student access only)

ECON 422 Investment, Capital, and Finance (5) I&S
Intertemporal optimization: consumption and portfolio allocation decisions of households, investment and financing decisions of firms. Introduction to financial decisions under uncertainty. Portfolio theory, asset pricing, options, and futures. Financial market institutions and efficiency. Prerequisite: minimum grade of 2.0 in ECON 300; either ECON 311, STAT 311, MATH 390, STAT 390, or Q SCI 381.
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ECON 423 Topics in Financial Economics (5) I&S
Topics of current interest such as regulation of securities markets and valuation of stocks. Allows students to apply tools of economics to real world problems in finance. Prerequisite: minimum grade of 2.0 in ECON 301; ACCTG 215.
MyPlan Course Details: ECON 423 (student access only)

ECON 424 Computational Finance and Financial Econometrics (5) NW
Covers probability models, data analysis, quantitative, and statistical methods using applications in finance. Prerequisite: minimum grade of 2.0 in ECON 300; either ECON 311/STAT 311, STAT 341, MATH 390/STAT 390, or Q SCI 381.
MyPlan Course Details: ECON 424 (student access only)

ECON 425 Topics in Monetary Economics (5) I&S
Topics include monetary policy and financial markets, two transmission mechanisms, dynamics of monetary policy, targeting interest rates versus targeting the quantity of money, monetary policy under fixed versus flexible exchange rates, inflation targeting, and practices of central banks, i.e., Fed, ECB, BOJ and PBOC. Prerequisite: minimum grade of 2.0 in ECON 301.
MyPlan Course Details: ECON 425 (student access only)

ECON 426 Advanced Financial Economics (5) I&S
Provides an introduction to financial derivatives and structured financial products, with emphasis on futures, options, credit derivatives, swaps, economic theory, valuation methods, trading strategies, hedging, and securitization. Emphasizes real world applications and developments in the financial market. Prerequisite: ECON 422; MATH 124.
MyPlan Course Details: ECON 426 (student access only)

ECON 431 Government and Business (5) I&S
Economic effects of various governmental regulatory agencies and policies. Antitrust legislation as a means of promoting desired market performance. Observed economic effects of policies intended to regulate business practices, control prices, conserve resources, or promote competition. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 431 (student access only)

ECON 435 Natural Resource Economics (5) I&S
Survey of the economics of renewable and nonrenewable resources including fisheries, forest, minerals, and fuels. Optimal trade-offs between benefits and costs of resource use, including trade-offs between current and future use. Effects of property rights on resource use. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 435 (student access only)

ECON 436 Economics of the Environment (5) I&S
Microeconomic analysis of environmental regulation. The problem of social cost, policy instrument choice, enforcement of regulations, methods for damage assessment, and estimating benefits of environmental improvement. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 436 (student access only)

ECON 437 Economics of Biological Resources (5) I&S
Application of economic concepts to biology and biological concepts to economics. Examination of theory of species maximization, parallels in behavior between humans and other biota, animal choices among alternative food sources, games animals play, evidence of risk aversion in animals. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 437 (student access only)

ECON 442 Economics of Human Resource Management (5)
Analyzes the relationship between personnel practices and organizational performance. Economic analysis of compensation policy emphasized. Topics include hiring and retention strategies; incentive pay; relative performance evaluation; teams; promotions; seniority; and organization design. Examines human capital accumulation and labor legislation. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 442 (student access only)

ECON 443 Labor Market Analysis (5) I&S
Determinants of employment and incomes in the United States: analysis of individual and firm decisions and of equilibrium in the labor market. Topics include decisions to work and retire, education and occupation choices, compensation, discrimination, poverty, unemployment, and unions. Examination of policy issues affecting the labor market. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 443 (student access only)

ECON 444 Topics in Labor Market Analysis (5) I&S
In-depth analysis of special topics in the operation of labor markets and public policies affecting incomes and employment. Course content varies by instructor. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 444 (student access only)

ECON 446 Economics of Education (5) I&S
Examines formal education as an investment industry, the economics of human capital investment, and competition among government-owned schools and the non-profit sector. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 446 (student access only)

ECON 447 Economics of Gender (5) I&S, DIV
Microeconomic analysis of the sources of gender differences in earnings, labor force participation, occupational choice, education, and consumption. Economic theories of discrimination, human capital, fertility, and intrahousehold resource allocation. Economics of the family in developed and developing countries. Prerequisite: minimum grade of 2.0 in ECON 300. Offered: jointly with GWSS 447.
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ECON 448 Population and Development (5) I&S, DIV
Surveys international economic development, with a focus on population issues. Topics include demography, poverty and income inequality, fertility choice and sex selection, household production models and intra-household inequality, parental investments in child health and education, including discrimination against girls, and migration and urbanization. Focuses on evidence-based policy and differential impacts on diverse communities within developing societies. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 448 (student access only)

ECON 450 Public Finance: Expenditure Policy (5) I&S
Application of normative microeconomic theory to analysis of government expenditures. Rationale for government economic activity, collective choice, public goods, and externalities, income redistribution, public sector pricing, and specific expenditure programs. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 450 (student access only)

ECON 451 Public Finance: Tax Policy (5) I&S
Microeconomics of taxation: efficiency, incidence, effect on distribution of income, personal and corporate income taxes, sales and consumption taxes, taxation of property and estates. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 451 (student access only)

ECON 452 Economic Theory as Applied to the Political System (5) I&S
Explanation and evaluation of the political system, using elementary economics theory. Topics include alternative voting rules, the political effectiveness of various types of groups, causes and consequences of logrolling, and bureaucratic organizations. Prerequisite: ECON 300. Offered: jointly with POL S 416.
MyPlan Course Details: ECON 452 (student access only)

ECON 454 Cost-Benefit Analysis (5) I&S
Theory and practice of cost-benefit analysis of public sector projects and policies. Welfare criteria, investment criteria, shadow prices, social discount rate, marginal-willingness-to-pay for non-market goods, social risk, and special topics. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 454 (student access only)

ECON 455 Microeconomics of Public Policy (5) I&S
Topics include general equilibrium analysis of efficiency and equity, income and substitution effects, analysis of alternative welfare programs, intergovernmental grants, price discrimination, price controls, rationing, industry regulation, and public goods. Prerequisite: minimum grade of 2.0 in ECON 300.
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ECON 464 Financial Crisis (5) I&S
Causes, effects, and cures for financial crisis traced through history from the Tulip Bubble, to the Great Depression, to the East Asian Crisis of 1997, and beyond. Explores the original work of Fisher, Keynes, Friedman, and Krugman, among others. Prerequisite: minimum grade of 2.0 in ECON 301.
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ECON 470 Economic History of the Jews (5) I&S
Explores the history, economics, and politics of mercantile minorities, the Jews. Topics include the economics of religion, migration, Zionism, Arab-Israeli relations, and Israeli high-tech. Prerequisite: minimum grade of 2.0 in ECON 300. Offered: jointly with JSIS C 470.
MyPlan Course Details: ECON 470 (student access only)

ECON 471 International Trade (5) I&S
Theory of comparative advantage and different models of international trade. Trade and welfare. Factor mobility and trade flows. Economic integration. Theory and practice of commercial policy. Prerequisite: minimum grade of 2.0 in ECON 301.
MyPlan Course Details: ECON 471 (student access only)

ECON 472 International Macroeconomics (5) I&S
International monetary theory and open economy macroeconomics. Balance of payments and foreign exchange markets. Different exchange rate arrangements and their adjustment mechanisms. Money and international capital movements. Policy issues. The international monetary system. Prerequisite: minimum grade of 2.0 in ECON 301.
MyPlan Course Details: ECON 472 (student access only)

ECON 473 Topics in International Trade (5) I&S
Advanced theory of trade and analysis of government trade policies. International trade and factor mobility. Theory of commercial policy. Prerequisite: minimum grade of 2.0 in ECON 301; ECON 471.
MyPlan Course Details: ECON 473 (student access only)

ECON 475 Economics of the European Union (5) I&S
Analysis of economic issues relating to the European union. Explores the institutional aspects, the attempt to coordinate social and economic policies - welfare, employment, commercial, fiscal, and monetary - and the economic linkages between the European Union and the rest of the world. Prerequisite: minimum grade of 2.0 in ECON 301.
MyPlan Course Details: ECON 475 (student access only)

ECON 482 Econometric Theory and Practice (5) NW
Applies statistical modeling to empirical work in economics. Focuses on regression analysis; derivations of regression estimators and their properties; and applied computer work in estimating multiple regression models. Prerequisite: minimum grade of 2.0 in ECON 300; either ECON 311/STAT 311, MATH 390/STAT 390, or Q SCI 381; recommended: MATH 124.
MyPlan Course Details: ECON 482 (student access only)

ECON 483 Econometric Applications (5) NW
Provides opportunity to learn econometric model building for a particular problem while applying the theory learned in various courses to specific economic cases. Estimate, test, and forecast economic models. Extensive use of the computer and econometric programs. Prerequisite: minimum grade of 2.0 in ECON 301; either ECON 311/STAT 311, STAT 341, MATH 390/STAT 390, or Q SCI 381.
MyPlan Course Details: ECON 483 (student access only)

ECON 484 Econometrics and Data Science (5) NW
Advanced continuation of ECON 482 and ECON 483. Traditional topics: structural modeling, non-linear and logistic regression, the LASSO, and non-traditional topics: regression and classification trees, bagging, boosting, and random forests. Computer based, uses the R language, emphasizing interpretation, not formal proofs. Prerequisite: ECON 482; MATH 126; recommended: ECON 483.
MyPlan Course Details: ECON 484 (student access only)

ECON 485 Game Theory with Applications to Economics (5) NW
Introduction to the main concepts of game theory: strategy, solution concepts for games, strategic behavior, commitment, cooperation, and incentives. Application to economics oligopoly theory, bargaining theory, and contract theory. Prerequisite: minimum grade of 2.0 in ECON 300.
MyPlan Course Details: ECON 485 (student access only)

ECON 486 Economics of Information (5) I&S
Basic models of decision making and strategic interaction in the presence of imperfect and incomplete information. Information issues in market exchange and in hierarchical settings. Includes adverse selection, moral hazard, signaling, and screening. Prerequisite: minimum grade of 2.0 in ECON 300; may not be taken for credit if credit received for ECON 402; recommended: either ECON 404 or ECON 485.
MyPlan Course Details: ECON 486 (student access only)

ECON 490 Comparative Economic Systems (5) I&S
Study of resource allocation, growth, and income distribution in capitalist, market socialist, and centrally planned economies. Prerequisite: minimum grade of 2.0 in ECON 301.
MyPlan Course Details: ECON 490 (student access only)

ECON 491 Issues in Economic Development (5) I&S
Examines factors contributing to the economic problems of developing countries and possible solutions. Theory and applications in economic development and international trade. Prerequisite: minimum grade of 2.0 in ECON 301.
MyPlan Course Details: ECON 491 (student access only)

ECON 492 Macroeconomics of Emerging Markets (5) I&S
Examines how the standard macroeconomic models that are used in industrial countries can be modified to help understand the macroeconomic issues facing emerging and developing countries. Covers topics including fiscal policy, inflation targeting, financial market stability, natural resource dependence, and institutional reforms. Prerequisite: minimum grade of 2.0 in ECON 301.
MyPlan Course Details: ECON 492 (student access only)

ECON 494 Economy of Japan (5) I&S
Analysis of the economic growth of Japan since about 1850 to the present. The reasons for rapid industrialization, various effects of sustained economic growth, and significant contemporary issues are investigated. Prerequisite: ECON 201.
MyPlan Course Details: ECON 494 (student access only)

ECON 495 Economies in Transition (5) I&S
Analysis of the interaction between institutional change and economic performance in the transforming socialist economies. Resources allocation in command economies. Market institutions. Primary focus on empirical comparison of growth, productivity, and social institutions in former socialist economies in Asia, Europe, and Central Asia. Prerequisite: minimum grade of 2.0 in ECON 301.
MyPlan Course Details: ECON 495 (student access only)

ECON 496 Honors Seminar (5) I&S
Honors and other students in high standing have the opportunity to develop research techniques, to pursue topics in breadth and depth, and to apply tools of economic analysis to selected topics in economic theory and current issues of national and international economic policy.
MyPlan Course Details: ECON 496 (student access only)

ECON 497 Honors Directed Study (5)
Students write their honors thesis on the topic chosen in the Honors Seminar working under the previously arranged supervision of a faculty adviser. Prerequisite: ECON 496
MyPlan Course Details: ECON 497 (student access only)

ECON 498 Senior Seminar (5) I&S
Advanced undergraduate research in economics. Students formulate some underlying economic issue, organize its study, gather necessary information, and analyze results. Does not satisfy graduation requirement for the major. Prerequisite: ECON 301; one 400-level ECON course; recommended: two 400-level ECON courses.
MyPlan Course Details: ECON 498 (student access only)

ECON 499 Undergraduate Research (1-5, max. 10)
May not be applied toward an advanced degree.
MyPlan Course Details: ECON 499 (student access only)

ECON 500 Microeconomic Analysis I (4)
Duality and comparative statics analysis. Consumer and firm behavior. Uncertainty. Prerequisite: permission of instructor.
MyPlan Course Details: ECON 500 (student access only)

ECON 501 Microeconomic Analysis II (4)
General equilibrium and welfare economics. Introduction to game theory. Prerequisite: ECON 500.
MyPlan Course Details: ECON 501 (student access only)

ECON 502 Macroeconomic Analysis I (4)
Topics include theories of business cycles, dynamics of price adjustments, consumption theory, dynamic programming, introduction to numerical techniques, and open economy macroeconomics. Prerequisite: permission of instructor.
MyPlan Course Details: ECON 502 (student access only)

ECON 503 Macroeconomic Analysis II (4)
Rational expectations in macroeconomic models. Dynamic optimizing models under uncertainty. Empirical examination of consumption, asset-pricing, and real business cycles. Prerequisite: ECON 502.
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ECON 508 Microeconomic Analysis III (4)
Information economics. Prerequisite: ECON 500; ECON 501.
MyPlan Course Details: ECON 508 (student access only)

ECON 509 Macroeconomic Analysis III (4)
Modern macroeconomic dynamics, presenting a range of approaches based on intertemporal optimization. Representative agent models with special emphasis on the analysis of government policy. More advanced discussion of economic growth. Prerequisite: ECON 502; ECON 503, or equivalent.
MyPlan Course Details: ECON 509 (student access only)

ECON 511 Advanced Microeconomic Theory: Selected Topics (3, max. 12)
Seminar in advanced microtheory. Selected topics of special interest and significance. Prerequisite: ECON 500; ECON 501.
MyPlan Course Details: ECON 511 (student access only)

ECON 512 Advanced Macroeconomic Theory: Selected Topics (3, max. 12)
Seminar in advanced macrotheory. Selected topics of special interest and significance.
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ECON 515 Special Topics in Mathematical Economics (3, max. 12)
MyPlan Course Details: ECON 515 (student access only)

ECON 516 Noncooperative Game Theory (3)
Study of both pure game theory and its applications to such problems as oligopoly pricing, non-cooperative bargaining, entry deterrence, reputation phenomena. Focus on game theory as a modeling tool as opposed to a body of known results. Prerequisite: ECON 508.
MyPlan Course Details: ECON 516 (student access only)

ECON 518 Contract Theory (3)
Basic contract theory models, including hidden action and hidden information models. Current developments in contract theory. Prerequisite: ECON 508; ECON 516, or permission of instructor.
MyPlan Course Details: ECON 518 (student access only)

ECON 519 Economics of Contracts and Organizations: Empirics (3) Shi
Critically reviews empirical literature on contracts and organization. Topics include multi-tasking; incentives and risk sharing; relative and subjective performance evaluation; team production; tournament and promotion; efficiency wage; career concern; relational contracts; asset specificity and asset ownership; complexity, uncertainty, asset ownership; adverse selection. Prerequisite: ECON 518; ECON 582, or permission of instructor.
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ECON 520 The Economics of Property Rights (3)
Application of standard economic theory to analyze various forms of property rights as constraints of competition; the costs associated with delineation and enforcement of rights; the costs of negotiating and enforcing contracts for right transfers; resource allocation and income distribution implied by different property right and transaction cost constraints. Prerequisite: ECON 500; ECON 501, or permission of instructor.
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ECON 523 Emergence of the State (3)
Using tools of property rights, industrial organization, and game theory, explores the emergence of the state. Specifies conditions conducive to constitutional rule. Analyzes circumstances amenable to state-promoted exchange as opposed to self-enforced agreements. Prerequisite: ECON 500; ECON 501, or permission of instructor.
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ECON 525 Computational Economics (3)
Develops a basic understanding of computational techniques used in the economic literature. Demonstrates, with economic examples, when and how these techniques are used and why and how they work. Prerequisite: ECON 580; ECON 581; ECON 582.
MyPlan Course Details: ECON 525 (student access only)

ECON 527 Empirics and Theory in Macroeconomics (3)
Explores the integration of empirical and theoretical methods central to macroeconomic research. Exposes students to frontier areas of research to help them learn substantive material and transition to conducting their own independent research. Prerequisite: ECON 502; ECON 503; ECON 509; ECON 581; ECON 582; recommended: ECON 584.
MyPlan Course Details: ECON 527 (student access only)

ECON 528 Micro Heterogeneity in Macroeconomics (3)
Discusses the role of heterogeneity in impulse and propagation of shocks to output, consumption, and asset prices. Covers empirical methods and theoretical models to further our understanding of these topics.
MyPlan Course Details: ECON 528 (student access only)

ECON 534 Empirical Industrial Organization (3)
Exposes students to the research frontier in empirical industrial organization. Topics include identification in linear models, models of product differentiation, estimation in data-rich environments, static games of imperfect competition, dynamic games of imperfect competition, and computational approaches to large-scale games.
MyPlan Course Details: ECON 534 (student access only)

ECON 535 Natural Resource Economics (3)
Half of integrated two-course sequence in environmental and natural resource economics. Dynamic optimization. Nonrenewable resource extraction and exploration, including effects of market structure, uncertainty, and taxation. Renewable resources, including fisheries and forests. Prerequisite: ECON 500; ECON 501, or permission of instructor.
MyPlan Course Details: ECON 535 (student access only)

ECON 536 Environmental Economics (3)
Half of integrated two-course sequence in environmental and natural resource economics. Theory of externalities. Normative and positive analysis of policy instruments for environmental management. Theory and methods of measuring environmental and resource values. Prerequisite: ECON 500; ECON 501, or permission of instructor.
MyPlan Course Details: ECON 536 (student access only)

ECON 537 Economic Aspects of Marine Policy (3)
Development of pertinent economic concepts and their application to selected topics in marine policy decision making, including maritime policy, OCS oil and gas development, and wetlands management. Prerequisite: SMEA 500 or permission of instructor. Offered: jointly with SMEA 537; W.
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ECON 538 Economics of Living Marine Resources (3)
Develops pertinent economic concepts and applications for conservation, regulation, and restoration of fisheries and other living resources. Gives special attention to fishery management, including harvest regulation and enforcement, recreational fisheries evaluation, property rights regimes, contemporary issues, and marine protected area management. Offered: jointly with SMEA 538; Sp.
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ECON 541 Labor Economics (3)
Theoretical and empirical analysis of the labor market, focusing on the time allocation and labor supply decisions of individuals and households and the determinants of wages and wage differentials.
MyPlan Course Details: ECON 541 (student access only)

ECON 542 Labor Economics (3)
Theoretical and empirical analysis of the labor market. The determinants of labor supply and demand, human capital investment, the pattern of compensation, employment contracts and incentives, unemployment and labor market dynamics.
MyPlan Course Details: ECON 542 (student access only)

ECON 543 Population Economics (3)
Analysis of population issues from an economic perspective. Focuses on the study of household behavior in both developed and developing countries. Studies areas including fertility decisions, health and mortality, investment in education, the intra-household allocation of resources, and household structure and marriage. Prerequisite: ECON 501.
MyPlan Course Details: ECON 543 (student access only)

ECON 547 Health Policy Economics (3)
Applies economic theory to selected topics in healthcare, including information, risk and insurance, industry organization, government regulation, and public health issues. Emphasizes policy implications of these applications. Offered: jointly with HSERV 587.
MyPlan Course Details: ECON 547 (student access only)

ECON 550 Public Finance: Expenditure Policy (3)
Theory of public finance with emphasis on public expenditures. Social welfare maximization, public goods and externalities, decreasing cost industries, theory of collective choice, second-best analysis. Prerequisite: ECON 500; ECON 501, or permission of instructor.
MyPlan Course Details: ECON 550 (student access only)

ECON 551 Public Finance: Tax Policy (3)
Theory of public finance with emphasis on taxation. Second-best analysis, optimal taxation, general equilibrium incidence analysis, issues in personal income taxation and corporate income taxation. Prerequisite: ECON 500; ECON 501, or permission of instructor.
MyPlan Course Details: ECON 551 (student access only)

ECON 554 Cost-Benefit Analysis (3)
Covers the theoretical foundations of cost-benefit analysis using graduate microeconomics. Stresses both the conceptual and practical problems encountered in the subject. Emphasis on problem solving and term project. Prerequisite: ECON 500; ECON 501.
MyPlan Course Details: ECON 554 (student access only)

ECON 568 Game Theory for Social Scientists (5)
Studies non-cooperative game-theory and provides tools to derive appropriate statistical models from game-theoretic models of behavior. Equilibrium concepts, learning, repeated games and experimental game theory. Prerequisite: MATH 112, MATH 124, or MATH 134; STAT 311/ECON 311 or equivalent. Offered: jointly with CS&SS 568; W.
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ECON 571 International Trade Theory (3)
Comparative advantage, resource allocation, income distribution, and foreign trade. Different theories of trade, with or without perfect competition and constant returns. International factor mobility. Prerequisite: ECON 500; ECON 501.
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ECON 572 International Financial and Monetary Economics (3)
Analysis of open economy macro models with emphasis on exchange rates and balance of payments determination. Prerequisite: ECON 502; ECON 503.
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ECON 573 International Commercial Policy (3)
Analysis of welfare aspects of international trade and factor mobility. Costs and benefits of protection; implications of different government policies. Import competition and response. Prerequisite: ECON 500; ECON 502.
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ECON 574 International Macroeconomics (3)
Surveys recent developments in international macroeconomics, placing particular emphasis on the dynamic aspects. One sector, multisector, and two-country international models discussed. Fiscal issues treated in depth. Stochastic aspects introduced and related to the literature on international real business cycles. Prerequisite: ECON 509 or equivalent.
MyPlan Course Details: ECON 574 (student access only)

ECON 575 International Trade and Macroeconomics (3)
Studies how international macroeconomic models with trade microfoundations can shed light on questions in international macroeconomics. Theories are confronted with evidence, and special attention is paid to the roles of produces entry and exit into markets, and of firm heterogeneity, in shaping aggregate fluctuations and economic policy outcomes.
MyPlan Course Details: ECON 575 (student access only)

ECON 580 Introduction to Mathematical Statistics: Econometrics I (5) NW
Examines methods, tools, and theory of mathematical statistics. Covers, probability densities, transformations, moment generating functions, conditional expectation. Bayesian analysis with conjugate priors, hypothesis tests, the Neyman-Pearson Lemma. likelihood ratio tests, confidence intervals, maximum likelihood estimation, Central limit theorem, Slutsky Theorems, and the delta-method. (Credit allowed for only one of STAT 390, STAT 481, and ECON 580.) Prerequisite: STAT 311/ECON 311; either MATH 136 or MATH 126 with either MATH 308 or MATH 309; recommended: MATH 324. Offered: jointly with CS&SS 509/STAT 509; A.
MyPlan Course Details: ECON 580 (student access only)

ECON 581 Econometrics II (4)
Methods, tools, and theory of econometrics as the basis for empirical investigation in economics. Specification, testing, and use of econometric models with reference to examples in the literature. Prerequisite: either ECON 580, CS&SS 509, or STAT 509.
MyPlan Course Details: ECON 581 (student access only)

ECON 582 Econometrics III (4)
Methods, tools, and theory of econometrics as the basis for empirical investigation in economics. Specification, testing, and use of econometric models with reference to examples in the literature. Prerequisite: ECON 581.
MyPlan Course Details: ECON 582 (student access only)

ECON 583 Econometric Theory I (3)
Estimation and testing in linear and nonlinear regression models. Asymptotic theory, bootstrapping. Theoretical developments are reinforced with a variety of empirical examples and applications. Prerequisite: ECON 580, ECON 581, ECON 582 or equivalent.
MyPlan Course Details: ECON 583 (student access only)

ECON 584 Econometric Theory II (3)
Continuation of ECON 583. Analysis of stationary and nonstationary, univariate, and multivariate time series models. Emphasis on empirical applications. Prerequisite: ECON 583.
MyPlan Course Details: ECON 584 (student access only)

ECON 585 Econometric Theory III (3)
Econometric issues that arise in applied microeconomic research. Topics range from standard methods to recent developments. Focus varies yearly to reflect interests of instructors and students. Prerequisite: ECON 582 or equivalent.
MyPlan Course Details: ECON 585 (student access only)

ECON 586 Advanced Applied Time Series Analysis (3)
Time series and empirical macroeconomics with focus on applications of time series analysis to various topics in macroeconomics and finance. Topics include: state-space models and Kalman filter; Markov-switching models and their extensions; Bayesian Gibbs sampling; randomization; and measurement of volatility.
MyPlan Course Details: ECON 586 (student access only)

ECON 587 Applied Microeconometrics (3)
Application of microeconomics methods. Topics include treatment effects, instrumental variables, natural experiments, measurement error, panel data, difference-in-differences, sibling data, regression discontinuity, randomization, and quantile regression. Prerequisite: ECON 582.
MyPlan Course Details: ECON 587 (student access only)

ECON 588 Bayesian Econometics (3)
Introduces the Bayesian approach to econometrics, and examines how estimation problems can be recast in a Bayesian light. Emphasizes practical technique. Examines Bayesian methods, standard econometric models, and computational issues.
MyPlan Course Details: ECON 588 (student access only)

ECON 589 Financial Econometrics (4)
Focuses on statistical modeling of financial time series with an emphasis on modeling volatility and correlation. Topics include statistical properties of asset returns, volatility and correlation modeling, statistical analysis of ultra high frequency time series, and estimation of continuous time models for asset returns. Prerequisite: ECON 583; either ECON 584 or STAT 519.
MyPlan Course Details: ECON 589 (student access only)

ECON 590 Analysis of Economies in Transition (3)
Applications of economic analysis to the economic problems of transforming socialist economies. Economic institutions. The role of the state. Privatization and the behavior of decentralized organizations. Integration into the world market. Prerequisite: micro- and macroeconomic theory and permission of instructor.
MyPlan Course Details: ECON 590 (student access only)

ECON 591 Microeconomics of Development (3)
Theoretical and empirical analysis of the microeconomics of development. Focuses on the study of household behavior in developing countries and how households respond to missing/imperfect markets. Topics include land access, nutrition and productivity, responses to risks and shocks, credit markets, micro-finance, and program evaluation. Prerequisite: ECON 501.
MyPlan Course Details: ECON 591 (student access only)

ECON 592 Development Policy (3)
Theoretical and empirical analysis of macroeconomic policies pursued by developing countries. Topics include the determination of exchange rates and relative prices in small economies; the examination of government spending, taxation, banking, trade, and labor market policies; and the evaluation of market-oriented economic reform programs. Prerequisite: ECON 503; recommended: ECON 591.
MyPlan Course Details: ECON 592 (student access only)

ECON 593 Topics in Microeconomics of Development (3)
Builds on ECON 591, studying a variety of special topics in development economics, including health, education, political economy, behavioral development economies, and environmental economics in developing countries.
MyPlan Course Details: ECON 593 (student access only)

ECON 594 Economic Growth (3)
Studies various theoretical approaches to the question of why some countries are richer than others using generalizations and extensions of contemporary macroeconomic theory. Discusses the implications of various macroeconomic policies for economic growth. Prerequisite: ECON 502; ECON 503; ECON 509.
MyPlan Course Details: ECON 594 (student access only)

ECON 595 Growth and Inequality (3)
Introduces the modern tools of macroeconomic analysis, in the context of several research topics in the areas of growth and inequality. Helps prepare students to undertake research of their own.
MyPlan Course Details: ECON 595 (student access only)

ECON 596 Research Issues in Microeconomics (3)
Provides opportunity to practice research and presentation skills in applied and theoretical microeconomics. Students develop and refine thesis topics under faculty supervision. Maximum of 6 credits allowed in 596, 597, and 598 combined. Credit/no-credit only.
MyPlan Course Details: ECON 596 (student access only)

ECON 599 Research Issues in Econometrics (3)
For second-year students or above who plan to do research in micro-econometrics or nonparametric and semi-parametric econometrics. Provides a forum for state-of-the-art research and an opportunity for students to practice research and presentation skills in applied and theoretical econometrics. Credit/no-credit only.
MyPlan Course Details: ECON 599 (student access only)

ECON 600 Independent Study or Research (*-)
Credit/no-credit only.
MyPlan Course Details: ECON 600 (student access only)

ECON 601 Internship (1-9, max. 9)
Credit/no-credit only.
MyPlan Course Details: ECON 601 (student access only)

ECON 602 Teaching Introductory Economics (1)
Examines problems encountered in preparing and presenting courses in introductory economics. Credit/no-credit only.
MyPlan Course Details: ECON 602 (student access only)

ECON 800 Doctoral Dissertation (*-)
Credit/no-credit only.
MyPlan Course Details: ECON 800 (student access only)