Professors: R.S. Goldfarb, A.M. Yezer, J.J. Cordes, J. Pelzman, R.P. Trost, B.L. Boulier, H.S. Watson, M.D. Bradley, S.C. Smith, P. Labadie, G.L. Kaminsky, D.O. Parsons, R.F. Phillips, J. Foster, M.O. Moore, N. Vonortas, F.L. Joutz, S. Joshi, A.S. Malik, V. Fon  

Associate Professors: S.M. Suranovic, W.P. Mullin, R. M. Samaniego, C. Wei  

Assistant Professors: M.X. Chen, A. Fostel, T. Sinclair, P. Carrillo, S. McCoskey, I. Foster, J. Blit

Professorial Lecturers: T. Alafita, R.S. Belous, G. Brock, S. Cellini, A. Constant, S. Cortes, M. Ferrantino, D. Fixler, J. Herbert, N. Hicks, J. Kilpatrick, R. Lamb, C. Loser, L. Michos, F. D. Osinski, N. Pham, L. Reiffel, D. Scissors, B. Simon, H. Stekler, R. D. Trunkey, J. Weiner

Associate Professorial Lecturers: A. Merchant Master of Arts in the field of economics—Prerequisite: (1) a Bachelor of Arts degree with a major in economics or with course work in economics that includes intermediate microeconomic and macroeconomic theory (equivalent to Econ 2101, 2102 or 2217–18; (2) an understanding of basic calculus, equivalent to Math 1231–1232. Applications are accepted for the fall semester only. Required: the general requirements stated under Columbian College of Arts and Sciences and completion of one of the following options. Option A: 30 credits of course work, including Econ 8301, 8305, 8375, 8376, and either 8302 or 8306; and five additional courses chosen in consultation with the Department's M.A. advisor. (Four of these additional courses come from two clusters—groups of related courses—with two courses from each cluster. An M.A. thesis may be substituted for the two courses in one of these clusters.) Students must earn at least a grade of B– in Econ 8301, 8305, and either 8302 or 8306. Option B: (primarily for those interested in pursuing a Ph.D.): 30 credits of course work, including Econ 8301, 8302, 8305, 8306, 8375, 8376, and either 8303 or 8307; three additional courses chosen in consultation with the Department's M.A. advisor. Two of these three additional courses (unless only one is available) should fulfill the requirements of one of the Department's Ph.D. fields (excluding micro and macro theory). Students must earn at least a grade of B– in Econ 8301, 8305, and either 8302 or 8306. See the PhD. page for more information on the doctoral program.

6214

Survey of Mathematical Economics (3) (old course #: 214)

Fon

For graduate students in fields other than economics. Differentiation, partial differentiation, and economic optimization problems; comparative statics; input–output analysis; difference, differential equations, and economic applications. Prerequisite: one semester of calculus and Econ 6217–18

6217–18

Survey of Economics (3–3) (old course #: 217-18)

Goldfarb, Bradley, Fon, Joutz, Malik, Sinclair, Alafita, Belous, Pham

Intermediate-level microeconomic theory (Econ 6217) and intermediate-level macroeconomic theory (Econ 6218) for graduate students in fields other than economics. (Econ 6217 and 6218—fall and spring)

6219

Managerial Economics (3) (old course #: 219)

Boulier, Fon, Goldfarb, Pham

Intermediate microeconomic theory, with emphasis on production and costs, market structure and pricing, risk analysis, and investment theory and capital budgeting. Credit can be earned for only one of Econ 6217, 6219, and 6220. (Fall and spring)

6220

Managerial Economics for MBAs (2)
(old course #: 220)

Belous, Lamb, Pham

Intermediate microeconomic theory, with emphasis on production and costs, market structure and pricing, risk analysis, and investment theory and capital budgeting. Credit can be earned for only one of Econ 6217, 6219, and 6220. (Fall and spring)

6221

Economics in Policy Analysis (3)

(old course #: 221)

Cordes, Brock, Goldfarb

Same as PPol 6104.

6222

Benefit–Cost Analysis (3) (old course #: 222)

Cordes, Cellini

The application of microeconomic theory and welfare economics to the empirical evaluation of public policies and programs. Applied welfare economics as a framework for policy analysis; empirical measures of welfare change; techniques of benefit–cost analysis. Prerequisite: Econ 6221 or PPol 6104.

6237

Economics of the Environment and Natural Resources (3) (old course #: 237)

Malik, Simon

Analysis of public policy problems relating to the environment and natural resources development and management. Prerequisite: Econ 6217. (Spring)

6239

Economics of Defense (3) (old course #: 239)

Staff

Economic analysis applied to national security planning and objectives. Analysis of defense establishment problems, including manpower, the defense industry base, procurement policy. (Spring)

6248

Health Economics (3) (old course #: 248)

Staff

Demand for medical care; organization of the health care delivery industry; policy issues on regulation, efficiency, and allocation of health care services. (Fall)

6250

Survey of Economic Development (3)

(old course #: 250)

Smith

An introduction to economic problems faced by less developed countries. Emphasis placed on applications to policy-making and evaluation. Prerequisite: Econ 217 or 280 or equivalent. (Spring)

6255

Economics of Technological Change (3)
(old course #: 255)

Vonortas

Economics of research and development; innovation and growth; the role of government in the development and use of new technology. (Fall)

6269–70

Economy of China (3–3) (old course #: 269-70)

Kilpatrick

Econ 6269: Analysis of organization, operation, policies, and problems. Development of the economy since 1999. Econ 6270: Examination of critical problems of development. Prerequisite to Econ 6270: Econ 6269 or permission of instructor.(Academic year)

6271

Economy of Japan (3) (old course #: 271)

Kilpatrick

Analysis of Japanese economic institutions and their contribution to Japan's development. (Fall)

6280

Survey of International Economics (3)

(old course #: 280)

Moore, Suranovic, Belous, Pham

Introductory-level international trade and finance, primarily for Elliott School students. Topics include the economic effects of trade liberalization and protection, exchange rate determination, and macroeconomic policies in an open economy. Prerequisite: Econ 1011–1012.

6283

Survey of International Trade Theory and Policy (3) (old course #: 283)

Moore, Pelzman, Suranovic, Chen

For graduate students in fields other than economics. Survey of international economics and policy; application of comparative advantage and other arguments for trade; impact of trade on a domestic economy; new arguments for protectionism; regional trading blocs. (Fall and spring)

6284

Survey of International Macroeconomics and Finance Theory and Policy (3) (old course #: 284)

Moore, Pelzman, Suranovic, Kaminsky, Pham

For graduate students in fields other than economics. Open-economy macroeconomics; international finance; balance of payments accounting; exchange markets; alternative models of balance of payments determination and adjustment; behavior of flexible exchange rate systems. (Fall and spring)

6285–86

Economic Development of Latin America (3–3) (old course #: 285-86)

Loser

Econ 6285: Diversity of structures of Latin American economies; import substituting industrialization; inflation; problems of underemployment and income distribution. Econ 6286: Structure of trade; protection, exports, and economic development; regional and global economic integration; foreign investment, multinational enterprise, and technology transfer. (Academic year)

6290

Principles of Demography (3) (old course #: 290)

Boulier

Introduction to basic demographic perspectives and data; methods for analysis of population size, distribution, and composition; determinants and consequences of population trends. Departmental prerequisite waived. Same as Geog/Soc 6290/Stat 6290.(Fall)

6291

Methods of Demographic Analysis (3)

(old course #: 6291)

Boulier

Basic methods for analysis of mortality, natality, and migration; population estimates and projections; estimation of demographic measures from incomplete data. Departmental prerequisite waived. Same as Geog/Soc 6291/Stat 6291. (Spring)

6293

Topics in International Finance (3)

(old course #: 293)

Kaminsky

(Fall)

6295

Special Topics (3) (old course #: 295)

Staff

Topics vary, depending on current issues of interest and faculty availability. (Fall and spring)

6998

Reading and Research (3) (old course #: 298)

Limited to master's degree candidates.

6999

Thesis Research (3–3) (old course #: 299)

8301

Microeconomic Theory I (3) (old course #: 301)

Joshi, Fon

Theory of unconstrained optimization; optimization subject to equality and inequality constraints, along with applications. Profit maximization, utility maximization and cost minimization, concave and quasi-concave functions, monotone comparative statics, duality theory, the envelope theorem and Le Chatelier principle, and the Kuhn–Tucker conditions. (Fall)

8302

Microeconomic Theory II (3) (old course #: 302)

Joshi, Fon

Expected utility theory, general equilibrium in a pure exchange economy and economy with production, welfare theorems and the core theory of the competitive firm in the short run and long run, monopoly and price discrimination, models of oligopoly. Prerequisite: Econ 8301. (Spring)

8303

Microeconomic Theory III (3) (old course #: 303)

Joshi, Fon

Theory of games, including Nash equilibrium and its refinements and comparative statics, evolutionary game theory, multistage games and subgame perfection, repeated games and oligopolistic supergames, static and dynamic Bayesian games, auction theory, and bargaining theory. Prerequisite: Econ 8302. (Spring)

8305

Macroeconomic Theory I (3) (old course #: 305)

Bradley, Labadie, Joutz, Wei

Alternative theories of income, employment, and the price level; impact of monetary and fiscal policy; role of expectations in the economy; and microfoundations of macroeconomic models and dynamic analysis. (Fall)

8306

Macroeconomic Theory II (3) (old course #: 306)

Bradley, Labadie, Joutz, Wei

Extensions of alternative models of income determination, economic growth, and the application of analytical frameworks to the U.S. and international economies. Prerequisite: Econ 8305. (Spring)

8307

Macroeconomic Theory III (3) (old course #: 307)

Bradley, Labadie, Joutz, Samaniego

Extensions to stochastic and dynamic general equilibrium frameworks, with emphasis on economic policy. Prerequisite: Econ 8306. (Fall)

8323–24

Monetary Theory and Policy (3–3)
(old course #: 323-24)

Labadie, Bradley

Theory of monetary policy within the framework of contemporary American central banking. (Academic year)

8341–42

Labor Economics (3–3) (old course #: 341-42)

Parsons

Theory of wages and employment, analysis of labor supply and demand. Analysis of unemployment; unions; wage regulation. (Academic year)

8345–46

Industrial Organization (3–3)
(old course #: 346-46)

Mullin

Econ 8345: Economic theory and evidence regarding industrial market structure, conduct, and economic performance. Econ 8346: Economic issues in antitrust and government regulation of the U.S. economy. Econ 8345 is prerequisite to Econ 8346.(Academic year)

8351

Development Economics I (3) (old course #: 351)

Smith, J. Foster

Major analytic concepts, measures, theoretical models, and empirical methods of development economics. (Fall)

8352

Development Economics II (3) (old course #: 352)

Smith, J. Foster

Continuation of Econ 8351. In-depth examination of special research topics with emphasis on methods in applied microeconomics. (Fall and Spring)

8357

Regional Economics (3) (old course #: 357)

Yezer

Study of regional planning and growth models, including input–output, programming, and econometric models used by planning agencies; analysis of interregional production, trade, migration, firm location, and pricing models. (Fall)

8358

Urban Economics (3) (old course #: 358)

Yezer

Analysis of spatial relationships among economic activities within an urban area including the urban land, labor, and housing markets; urban transportation models; fiscal relationships among jurisdictions. (Spring)

8363

Public Finance I (3) (old course #: 363)

Cordes

Theoretical and empirical analysis of the economic role of the public sector and the effects of public expenditures on resource allocation and income distribution. Topics include public goods, externalities, social insurance, and benefit–cost analysis.(Fall)

8364

Public Finance II (3) (old course #: 364)

Cordes

Theoretical and empirical analysis of the effects of taxes and transfers on the allocation of resources and income distribution. Topics include partial and general equilibrium models of tax incidence, effects of taxes on labor supply, saving, and portfolio choices of households and on investment and financing decisions of firms.(Spring)

8375

Econometrics I (3) (old course #: 375)

Phillips, Trost, McCoskey

Statistical foundations for econometrics; standard methods of estimation and inference for classical and generalized regression models. Same as Stat 8375. (Fall)

8376

Econometrics II (3) (old course #: 376)

Phillips, Trost

Topics may include asymptotic theory, statistical endogeneity, instrumental variables estimation, discrete and limited dependent variable models, and time–series models. Prerequisite: Econ 8375. Same as Stat 8376. (Spring)

8377

Econometrics III (3) (old course #: 377)

Phillips, Trost

Econometric methods for systems of equations and panel data, with additional topics that may vary from year to year. Prerequisite: Econ 8376.

8378

Economic Forecasting (3) (old course #: 378)

Joutz

Introduction to the theoretical and applied aspects of economic forecasting. Topics include the role of forecasting, univariate time-series analysis, single equation models, multiple series models, and evaluation of forecasts. Prerequisite: Econ 8375 or equivalent or permission of instructor. (Spring)

8379

Laboratory in Applied Econometrics (3)

(old course #: 379)

Trost, Joutz, Phillips, Sinclair

Application of econometric theory and the use of econometric software; students are required to write an empirical research paper. The course usually deals exclusively with either micro or macroeconomic issues. May be repeated for credit provided the topic differs.

8381

International Trade Theory (3) (old course #: 381)

Moore, Pelzman, Suranovic

International trade theory, including alternative models of the gains from trade and evaluations of the new justifications for protectionism, and analysis of commercial policy, factor flows, and trade and investment with multinational corporations. Prerequisite: most sections require calculus or permission of instructor. (Fall)

8382

International Finance and Open-Economy Macroeconomics (3) (old course #: 382)

Kaminsky

International finance, including alternative models of balance of payments behavior and adjustment, payments accounting, exchange markets, and alternative exchange-rate regimes. (Spring)

8383

International Financial Markets (3)
(old course #: 383)

Fostel

8395

Advanced Special Topics (3) (old course #: 395)

Topics vary depending upon current interests and faculty availability. Open to graduate students in economics. May be repeated for credit.