Twin Cities campus

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Twin Cities Campus

Economics B.S.

Economics
College of Liberal Arts
  • Program Type: Baccalaureate
  • Requirements for this program are current for Fall 2023
  • Required credits to graduate with this degree: 120
  • Required credits within the major: 64
  • Degree: Bachelor of Science
The Bachelors of Science in Economics gives students the economic, mathematical, and analytical tools to solve contemporary economic problems. This major pathway is recommended for students considering graduate studies in economics or pursuing a career as a professional economist or in an analytics-based field. For more information, visit https://cla.umn.edu/economics
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Admission Requirements
Students must complete 4 courses before admission to the program.
For information about University of Minnesota admission requirements, visit the Office of Admissions website.
Required prerequisites
Preparatory Coursework
Take exactly 4 course(s) totaling exactly 16 credit(s) from the following:
Principles of Micro and Macroeconomics
ECON 1101 - Principles of Microeconomics [SOCS, GP] (4.0 cr)
or APEC 1101 - Principles of Microeconomics [SOCS, GP] (4.0 cr)
or APEC 1101H - Principles of Microeconomics [SOCS, GP] (4.0 cr)
ECON 1102 - Principles of Macroeconomics (4.0 cr)
or APEC 1102 - Principles of Macroeconomics (3.0 cr)
· Calculus I
· MATH 1271 - Calculus I [MATH] (4.0 cr)
or MATH 1571H - Honors Calculus I [MATH] (4.0 cr)
or MATH 1371 - CSE Calculus I [MATH] (4.0 cr)
· Calculus II
· MATH 1272 - Calculus II (4.0 cr)
or MATH 1572H - Honors Calculus II (4.0 cr)
or MATH 1372 - CSE Calculus II (4.0 cr)
General Requirements
All students in baccalaureate degree programs are required to complete general University and college requirements including writing and liberal education courses. For more information about University-wide requirements, see the liberal education requirements. Required courses for the major, minor or certificate in which a student receives a D grade (with or without plus or minus) do not count toward the major, minor or certificate (including transfer courses).
Program Requirements
At least 24 upper-division credits in the major must be taken at the University of Minnesota Twin Cities campus. At least 7 of the 9 upper-division ECON courses must be taken from the Department of Economics at the University of Minnesota Twin Cities campus. Students may receive no more than one undergraduate degree from the Department of Economics: a BA or a BS or a minor. All incoming CLA first-year (freshmen) must complete the First-Year Experience course sequence. All incoming CLA first-year (freshmen) students earning a BA, BS, or BIS degree must complete the second-year career management course CLA 3002. All students must complete a capstone in at least one CLA major. The requirements for double majors completing the capstone in a different CLA major will be clearly stated. Students must also complete all major requirements in both majors to allow the additional capstone to be waived. Students completing an additional degree must complete the capstone in each degree area.
Core Courses
Take exactly 6 course(s) totaling exactly 24 credit(s) from the following:
· ECON 3101 - Intermediate Microeconomics (4.0 cr)
ECON 3102 - Intermediate Macroeconomics (4.0 cr)
· MATH 2243 - Linear Algebra and Differential Equations (4.0 cr)
or MATH 2574H - Honors Calculus IV (4.0 cr)
or MATH 2373 - CSE Linear Algebra and Differential Equations (4.0 cr)
· MATH 2263 - Multivariable Calculus (4.0 cr)
or MATH 2573H - Honors Calculus III (4.0 cr)
or MATH 2374 - CSE Multivariable Calculus and Vector Analysis (4.0 cr)
· Theory of Statistics I & II
Take one of the following course pairs for a total of 8 credits:
STAT 4101 - Theory of Statistics I (4.0 cr)
STAT 4102 - Theory of Statistics II (4.0 cr)
or STAT 5101 - Theory of Statistics I (4.0 cr)
STAT 5102 - Theory of Statistics II (4.0 cr)
Electives
Take exactly 4 course(s) totaling 12 - 16 credit(s) from the following:
· ECON 3970 - Topics in Economics (3.0 cr)
· ECON 4115 - Uncertainty and Information (4.0 cr)
· ECON 4331W - Economic Development [WI] (3.0 cr)
· ECON 4341 - Economics of Poverty and Income Inequality (3.0 cr)
· ECON 4431W - International Trade [GP, WI] (3.0 cr)
· ECON 4432W - International Finance [WI] (3.0 cr)
· ECON 4531 - Labor Economics (3.0 cr)
· ECON 4631 - Industrial Organization and Antitrust Policy (3.0 cr)
· ECON 4721 - Money and Banking (3.0 cr)
· ECON 4751 - Financial Economics (3.0 cr)
· ECON 4821 - Public Economics (3.0 cr)
· ECON 4831 - Cost-Benefit Analysis (3.0 cr)
· ECON 4960 {Inactive} (4.0 cr)
· Area Study Courses
Only one country/area study course or department-approved study abroad course may count toward the electives requirement.
Take no more than 1 course(s) from the following:
· ECON 3960 {Inactive} (3.0 cr)
· ECON 4311 - Economy of Latin America (3.0 cr)
· ECON 4317 - The Chinese Economy (3.0 cr)
Advanced Courses
The Microeconomic Analysis courses (ECON 416x) are quarter-long (7-week) courses meant to be taken in pairs.
Take 2 or more course(s) totaling 8 or more credit(s) from the following:
· ECON 4108 - Advanced Game Theory and Applications (4.0 cr)
· ECON 4118 - Advanced Mathematical Economics (4.0 cr)
· ECON 4438W - Advanced International Trade [GP, WI] (4.0 cr)
· ECON 4538 - Advanced Labor Economics (4.0 cr)
· ECON 4758 - Advanced Financial Economics (4.0 cr)
· ECON 4970 {Inactive} (4.0 cr)
· ECON 4161 - Microeconomic Analysis I (2.0 cr)
ECON 4162 - Microeconomic Analysis II (2.0 cr)
· ECON 4163 - Microeconomic Analysis III (2.0 cr)
ECON 4164 - Microeconomic Analysis IV (2.0 cr)
Capstone
In the capstone, students demonstrate that they can think critically and define an economic issue; review relevant literature; gather, recognize, and interpret data; use economic theory and statistical tools to analyze economic problems; interpret and communicate findings; and attain understanding and proficiency in the modes of inquiry common to the discipline.
Take exactly 1 course(s) totaling exactly 4 credit(s) from the following:
Students who double major and choose to complete the capstone requirement in their other major are still required to take the Economics BS capstone.
Capstone Seminar
Take 1 or more course(s) totaling 4 or more credit(s) from the following:
· ECON 4261 - Introduction to Econometrics (4.0 cr)
Upper Division Writing Intensive within the Major
Students are required to take one upper division writing intensive course within the major. If that requirement has not been satisfied within the core major requirements, students must choose one course from the following list. Some of these courses may also fulfill other major requirements.
Take 0 - 1 course(s) from the following:
· ECON 4331W - Economic Development [WI] (3.0 cr)
· ECON 4431W - International Trade [GP, WI] (3.0 cr)
· ECON 4432W - International Finance [WI] (3.0 cr)
· ECON 4438W - Advanced International Trade [GP, WI] (4.0 cr)
 
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ECON 1101 - Principles of Microeconomics (SOCS, GP)
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 1101/1165 ApEc 1101/1101H
Typically offered: Every Fall, Spring & Summer
Microeconomic behavior of consumers, firms, and markets in domestic and world economy. Demand and supply. Competition and monopoly. Distribution of income. Economic interdependencies in the global economy. Effects of global linkages on individual decisions. prereq: knowledge of plane geometry and advanced algebra
APEC 1101 - Principles of Microeconomics (SOCS, GP)
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 1101/1165 ApEc 1101/1101H
Typically offered: Every Fall & Spring
Economic behavior of consumers/firms in domestic/international markets. Demand, supply, competition. Efficiency, Invisible Hand. Monopoly, imperfect competition. Externalities, property rights. Economics of public policy in environment/health/safety. Public goods, tax policy.
APEC 1101H - Principles of Microeconomics (SOCS, GP)
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 1101/1165 ApEc 1101/1101H
Grading Basis: A-F only
Typically offered: Every Fall
Economic behavior of consumers/firms in domestic/international markets. Demand, supply, competition. Efficiency, Invisible Hand. Monopoly, imperfect competition. Externalities, property rights. Economics of public policy in environment/health/safety. Public goods, tax policy. prereq: Honors student, proficiency in high school algebra
ECON 1102 - Principles of Macroeconomics
Credits: 4.0 [max 4.0]
Course Equivalencies: ApEc 1102/Econ 1102/1105/1112
Typically offered: Every Fall, Spring & Summer
Aggregate consumption, saving, investment, and national income. Role of money, banking, and business cycles in domestic and world economy. International trade, growth, and development. U.S. economy and its role in the world economy. International interdependencies among nations. prereq: [1101 or equiv], knowledge of plane geometry and advanced algebra
APEC 1102 - Principles of Macroeconomics
Credits: 3.0 [max 3.0]
Course Equivalencies: ApEc 1102/Econ 1102/1105/1112
Typically offered: Every Spring
Unemployment/inflation, measures of national income, macro models, fiscal policy/problems. Taxes and the national debt. Money/banking, monetary policy/problems. Poverty and income distribution. International trade and exchange rates. Economic growth/development. prereq: 1101 or Econ 1101
MATH 1271 - Calculus I (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1271/Math 1281/Math 1371/
Typically offered: Every Fall, Spring & Summer
Differential calculus of functions of a single variable, including polynomial, rational, exponential, and trig functions. Applications, including optimization and related rates problems. Single variable integral calculus, using anti-derivatives and simple substitution. Applications may include area, volume, work problems. prereq: 4 yrs high school math including trig or satisfactory score on placement test or grade of at least C- in [1151 or 1155]
MATH 1571H - Honors Calculus I (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1271/Math 1281/Math 1371/
Grading Basis: A-F only
Typically offered: Every Fall
Differential/integral calculus of functions of a single variable. Emphasizes hard problem-solving rather than theory. prereq: Honors student and permission of University Honors Program
MATH 1371 - CSE Calculus I (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1271/Math 1281/Math 1371/
Typically offered: Every Fall & Spring
Differentiation of single-variable functions, basics of integration of single-variable functions. Applications: max-min, related rates, area, curve-sketching. Use of calculator, cooperative learning. prereq: CSE or pre-bioprod concurrent registration is required (or allowed) in biosys engn (PRE), background in [precalculus, geometry, visualization of functions/graphs], instr consent; familiarity with graphing calculators recommended
MATH 1272 - Calculus II
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1272/Math 1282/Math 1372/
Typically offered: Every Fall, Spring & Summer
Techniques of integration. Calculus involving transcendental functions, polar coordinates. Taylor polynomials, vectors/curves in space, cylindrical/spherical coordinates. prereq: [1271 or equiv] with grade of at least C-
MATH 1572H - Honors Calculus II
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1272/Math 1282/Math 1372/
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Continuation of 1571. Infinite series, differential calculus of several variables, introduction to linear algebra. prereq: 1571H (or equivalent) honors student
MATH 1372 - CSE Calculus II
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1272/Math 1282/Math 1372/
Typically offered: Every Spring
Techniques of integration. Calculus involving transcendental functions, polar coordinates, Taylor polynomials, vectors/curves in space, cylindrical/spherical coordinates. Use of calculators, cooperative learning. prereq: Grade of at least C- in [1371 or equiv], CSE or pre-Bioprod/Biosys Engr
ECON 3101 - Intermediate Microeconomics
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 3101/Econ 3101H/ApEc 3001
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Behavior of households, firms, and industries under competitive/monopolistic conditions. Factors influencing production, price, and other decisions. Applications of theory. Economic efficiency. Distribution of well-being. Students cannot take this course if they have taken ApEc 3001, as ApEc 3001 does not contain all material in Econ 3101. prereq: ECON 1101, 1102, and MATH 1271 or equivalent courses approved by the Economics Department.
ECON 3102 - Intermediate Macroeconomics
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 3102/ApEc 3006
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Determinants of national income, employment, and price level; effects of monetary and fiscal policies; emphasis on a general equilibrium approach. Applications of the theory, especially to current modern macroeconomic policy issues. ApEc 3006 cannot be substituted for ECON 3102. prereqs: ECON 1101 (or ECON 1165, APEC 1101), ECON 1102 (or APEC1102), ECON 3101, MATH 1271 or equivalent courses approved by the Economics Department.
MATH 2243 - Linear Algebra and Differential Equations
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 2243/Math 2373/Math 2574H
Typically offered: Every Fall, Spring & Summer
Linear algebra: basis, dimension, matrices, eigenvalues/eigenvectors. Differential equations: first-order linear, separable; second-order linear with constant coefficients; linear systems with constant coefficients. prereq: [1272 or 1282 or 1372 or 1572] w/grade of at least C-
MATH 2574H - Honors Calculus IV
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 2243/Math 2373/Math 2574H
Grading Basis: A-F only
Typically offered: Every Spring
Advanced linear algebra, differential equations. Additional topics as time permits. prereq: Math 1572H or Math 2573H, honors student and permission of University Honors Program
MATH 2373 - CSE Linear Algebra and Differential Equations
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 2243/Math 2373/Math 2574H
Typically offered: Every Fall & Spring
Linear algebra: basis, dimension, eigenvalues/eigenvectors. Differential equations: linear equations/systems, phase space, forcing/resonance, qualitative/numerical analysis of nonlinear systems, Laplace transforms. Use of computer technology. prereq: [1272 or 1282 or 1372 or 1572] w/grade of at least C-, CSE or pre-Bio Prod/Biosys Engr
MATH 2263 - Multivariable Calculus
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 2263/Math 2374/Math 2573H
Typically offered: Every Fall, Spring & Summer
Derivative as linear map. Differential/integral calculus of functions of several variables, including change of coordinates using Jacobians. Line/surface integrals. Gauss, Green, Stokes Theorems. prereq: [1272 or 1372 or 1572] w/grade of at least C-
MATH 2573H - Honors Calculus III
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 2263/Math 2374/Math 2573H
Grading Basis: A-F only
Typically offered: Every Fall
Integral calculus of several variables. Vector analysis, including theorems of Gauss, Green, Stokes. prereq: Math 1572H (or equivalent), honors student
MATH 2374 - CSE Multivariable Calculus and Vector Analysis
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 2263/Math 2374/Math 2573H
Typically offered: Every Fall & Spring
Derivative as linear map. Differential/integral calculus of functions of several variables, including change of coordinates using Jacobians. Line/surface integrals. Gauss, Green, Stokes theorems. Use of computer technology. prereq: [1272 or 1282 or 1372 or 1572] w/grade of at least C-, CSE or pre-Bioprod/Biosys Engr
STAT 4101 - Theory of Statistics I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
Random variables/distributions. Generating functions. Standard distribution families. Data summaries. Sampling distributions. Likelihood/sufficiency. prereq: Math 1272 or Math 1372 or Math 1572H
STAT 4102 - Theory of Statistics II
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
Estimation. Significance tests. Distribution free methods. Power. Application to regression and to analysis of variance/count data. prereq: STAT 4101
STAT 5101 - Theory of Statistics I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Logical development of probability, basic issues in statistics. Probability spaces. Random variables, their distributions and expected values. Law of large numbers, central limit theorem, generating functions, multivariate normal distribution. prereq: (MATH 2263 or MATH 2374 or MATH 2573H), (MATH 2142 or CSCI 2033 or MATH 2373 or MATH 2243)
STAT 5102 - Theory of Statistics II
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
Sampling, sufficiency, estimation, test of hypotheses, size/power. Categorical data. Contingency tables. Linear models. Decision theory. prereq: [5101 or Math 5651 or instr consent]
ECON 3970 - Topics in Economics
Credits: 3.0 [max 6.0]
Grading Basis: A-F or Aud
Typically offered: Periodic Fall & Spring
Topics specified in class schedule. prereqs: ECON 1101 (or ECON 1165, APEC 1101), ECON 1102 (or APEC 1102), ECON 3101, and MATH 1271
ECON 4115 - Uncertainty and Information
Credits: 4.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
For Econ B.S. students only. This Microeconomic theory course focuses on economies under uncertainty with possibly asymmetric information. Individual behavior of consumers and that of markets are studied under uncertainty with incomplete information. Related topics in technology and innovation. the information economy, and networks will be examined. prereq: [[3101, 3102]] or equiv], [[MATH 1271, MATH 1272, and Math 2243] or equiv]; strongly suggest students complete Stat 4101 before taking this course; students should have successfully completed two 4xxx level UMNTC economics courses.
ECON 4331W - Economic Development (WI)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Economic growth in low income countries. Theory of aggregate and per capita income growth. Population growth, productivity increases, and capital formation. Allocation of resources between consumption and investment and among sectors. International assistance/trade. prereq: ECON 1101 (or ECON 1165, APEC 1101), ECON 1102 (or APEC 1102), ECON 3101, ECON 3102, MATH 1271 or equivalent courses approved by the Economics Department, and completion of freshman writing practice.
ECON 4341 - Economics of Poverty and Income Inequality
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
This course focuses on the economic aspects of poverty and inequality in the United States. The course utilizes economic theory and empirical research to analyze the determinants of, and potential strategies to overcome poverty and inequality. Topics include measurement and trends of poverty and income inequality, labor markets, education, discrimination, residential segregation, immigration, hunger and nutrition, US farm policy, food distribution, food security, food aid, the connection between food production and health outcomes, as well as other related themes. prereq: [MATH 1271, ECON 1101, ECON 1102, ECON 3101] or equiv;
ECON 4431W - International Trade (GP, WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: Econ 4431W/Econ 4431V/Econ 443
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Theories of trade/trade patterns. Trade restrictions/commercial policy. International factor movements. Economic growth/development. Regional integration. prereq: ECON 1101 (or ECON 1165, APEC 1101), ECON 1102 (or APEC 1102), ECON 3101, ECON 3102, MATH 1271, or equivalent courses approved by the Economics Department, and completion of freshman writing practice.
ECON 4432W - International Finance (WI)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Balance of payments; international financial markets; exchange rate determination; international monetary system; international investment and capital flows; financial management of the multinational firm; open economy macroeconomic policy. prereq: ECON 1101 (or ECON 1165, APEC 1101), ECON 1102 (or APEC 1102), ECON 3101, ECON 3102, MATH 1271 or equivalent courses approved by the Economics Department and first-writing course.
ECON 4531 - Labor Economics
Credits: 3.0 [max 3.0]
Course Equivalencies: Econ 4531/Econ 4538
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Economic analysis of labor markets and their operations; population and labor force; labor market institutions; wage and employment theories; unions and collective bargaining; public policy. prereqs: (ECON 1101 or ECON 1165, APEC 1101), (ECON 1102 or APEC 1102), ECON 3101, ECON 3102, MATH 1271 or equivalent courses approved by the Economics Department
ECON 4631 - Industrial Organization and Antitrust Policy
Credits: 3.0 [max 3.0]
Course Equivalencies: Econ 3601/Econ 4631/Econ 4631H
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Relations between market structure, economic efficiency and welfare. Economic origins of monopoly and other restraints on competition. Purposes and effects of antitrust and related legislation. Industrial policy. prereq: (ECON 1101 or ECON 1165, APEC 1101), (ECON 1102 or APEC 1102), ECON 3101, MATH 1271 or equivalent courses approved by the Economics Department
ECON 4721 - Money and Banking
Credits: 3.0 [max 3.0]
Course Equivalencies: Econ 3701/Econ 4721/Econ 4721H
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Theories of money demand and money supply. Financial intermediation and banking, banking practices and regulation, role of the Federal Reserve system. Monetary theory and policy. prereq: (ECON 1101 or ECON 1165, APEC 1101), (ECON 1102 or APEC 1102), ECON 3101, ECON 3102, and MATH 1271, or equivalent courses approved by the Economics Department.
ECON 4751 - Financial Economics
Credits: 3.0 [max 3.0]
Course Equivalencies: Econ 4751/Econ 4751H/Econ 4758
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Financial decisions of firms/investors. Determination of interest rates and asset prices. Role of risk/uncertainty. Emphasizes economic models. prereqs: (ECON 1101 or ECON 1165, APEC 1101), (ECON 1102 or APEC 1102), ECON 3101, MATH 1271, STAT 3011 or equivalent courses approved by the Economics Department.
ECON 4821 - Public Economics
Credits: 3.0 [max 3.0]
Course Equivalencies: Econ 3801/Econ 4828/Econ 4821
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Competing views on proper role of government in economy. Effects of tax/spending policies, taking into account private agents' response to government actions/ways government officials may use powers. Optimal policies. Applications primarily to U.S. government. prereq: (ECON 1101 or ECON 1165, APEC 1101), (ECON 1102 or APEC 1102), ECON 3101, ECON 3102, MATH 1271 or equivalent courses approved by the Economics Department
ECON 4831 - Cost-Benefit Analysis
Credits: 3.0 [max 3.0]
Course Equivalencies: Econ 4611H/Econ 4831
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Evaluation of benefits and costs of public projects and programs. Issues connected with definition and measurement of benefits and costs. Rate of return and discount. Market imperfections, risk, uncertainty. Case studies. prereq: (ECON 1101 or ECON 1165, APEC 1101), (ECON 1102 or APEC 1102), ECON 3101, MATH 1271 or equivalent courses approved by the Economics Department
ECON 4311 - Economy of Latin America
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Economic evolution in Latin America since 1950. Trade liberalization, poverty, inflation, development strategies in selected Latin American countries. Theory/applications of important issues. prereq: [MATH 1271, ECON 1101, ECON 1102] or equiv
ECON 4317 - The Chinese Economy
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Overview of the Chinese Economy; transition from command economy to a market-based one and effects on economic indicators; current economic issues and concerns of the Chinese economy; role of China in today's world economy. prereq: (ECON 1101or ECON 1165, APEC 1101), (ECON 1102 or APEC 1102), MATH 1271 or equivalent courses approved by the Economics Department.
ECON 4108 - Advanced Game Theory and Applications
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 4108/Econ 4109/Econ 4109H
Grading Basis: A-F only
Typically offered: Every Fall
For Econ B.S. students only. Games. Normal form, extensive form. Wars of attrition. Games of timing. Bargaining applications in industrial organization, macroeconomics, international economics. prereq: ECON 3101, 3102, MATH 1271, MATH 1272 [or equiv courses]; and two 4xxx level ECON electives.
ECON 4118 - Advanced Mathematical Economics
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 4113/Econ 4113H/Econ 4118
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Development of selected models of economic behavior in mathematical terms. Topics selected to illustrate advantages of mathematical formulation. prereq: ECON 3101, 3102, MATH 1271, MATH 1272, MATH 2243 or equivalent courses; and at least two 4xxx level economics electives.
ECON 4438W - Advanced International Trade (GP, WI)
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 4431W/Econ 4431V/Econ 443
Grading Basis: A-F only
Typically offered: Every Spring
Theories of trade/explanations of trade patterns. Trade restrictions. Commercial policy. International factor movements. Economic growth/development. Multinational corporations. Regional integration. prereq: [3101, 3102] or equiv, Math 1271, completion of freshman writing practice, [Math 1272 or equiv]
ECON 4538 - Advanced Labor Economics
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 4531/Econ 4538
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
For B.S. Econ majors only. Economic analysis of domestic and global labor markets; population and labor force; labor market institutions; wage and employment theories; unions and collective bargaining; public policy including immigration, outsourcing, living wages, earnings mobility, downsizing; special topics. prereq: (ECON 1101 or ECON 1165, APEC 1101), (ECON 1102 or APEC 1102), ECON 3101, ECON 3102, MATH 1271, MATH 1272, and two Econ electives or equivalent courses approved by the Economics Department.
ECON 4758 - Advanced Financial Economics
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 4751/Econ 4751H/Econ 4758
Grading Basis: A-F only
Typically offered: Every Spring
Efficiency/role of financial markets. Theoretical concepts, empirical evidence. Price of financial assets, value of investment projects, risk management trading strategies. prereq: 3101, [3102 or equiv], [Math 1271 or equiv], [Stat 3011 or equiv], [Math 1272 or equiv]
ECON 4161 - Microeconomic Analysis I
Credits: 2.0 [max 2.0]
Course Equivalencies: Econ 4161/Econ 8001
Grading Basis: A-F only
Typically offered: Every Fall
Theories of consumer demand, producer supply, and market equilibrium. General equilibrium and welfare. May include topics such as externalities, economics of information/uncertainty. Seven-week course. prereq: 3101, 3102, MATH 2243, MATH 2263, [[STAT 4101, STAT 4102] or equiv]
ECON 4162 - Microeconomic Analysis II
Credits: 2.0 [max 2.0]
Course Equivalencies: Econ 4162/Econ 8002
Grading Basis: A-F or Aud
Typically offered: Every Fall
Theories of consumer, producer, and market equilibrium. Includes general equilibrium, welfare, externalities, topics in information and uncertainty, and game theory. Seven-week course. prereq: 3101, 3102, 4161, MATH 2243, MATH 2263, [[STAT 4101, STAT 4102] or equiv],
ECON 4163 - Microeconomic Analysis III
Credits: 2.0 [max 2.0]
Course Equivalencies: Econ 4163/Econ 8003
Grading Basis: A-F only
Typically offered: Every Spring
The course is an introduction to basic concepts of stochastic calculus and application in economic analysis and finance. The aim of the course is to provide a treatment of the prerequisites. The requirements are basic probability and real analysis concepts; these will be reviewed in the first lectures. prereq: 3101, 3102, 4162, MATH 2243, MATH 2263, dept consent
ECON 4164 - Microeconomic Analysis IV
Credits: 2.0 [max 2.0]
Course Equivalencies: Econ 4164/Econ 8004
Grading Basis: A-F only
Typically offered: Every Spring
Theory and applications of dynamic optimal control to economic environments. Analysis of barrier problems, where a single decision must be made at some point in time; analysis of optimal control problems where multiple, continuous decisions are made over time. May include investment decisions, regulated decision-making and elements of dynamic contracting. prereq: 3101, 3102, 4163, MATH 2243, MATH 2263, [[STAT 4101, STAT 4102] or equiv], dept consent
ECON 4261 - Introduction to Econometrics
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
For Econ B.S. majors only. Review of basic linear regression model, its variants. Time series/simultaneous equation models. Material may include panel data, censored/truncated regressions, discrete choice models. prereq: (ECON 1101 or ECON 1165, APEC 1101), ECON 1102 (or APEC 1102), ECON 3101, MATH 1271, MATH 1272, MATH 2243, MATH 2263, STAT 4101 (or 5101), STAT 4102 (or 5102) or equivalent courses approved by the Economics Department.
ECON 4331W - Economic Development (WI)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Economic growth in low income countries. Theory of aggregate and per capita income growth. Population growth, productivity increases, and capital formation. Allocation of resources between consumption and investment and among sectors. International assistance/trade. prereq: ECON 1101 (or ECON 1165, APEC 1101), ECON 1102 (or APEC 1102), ECON 3101, ECON 3102, MATH 1271 or equivalent courses approved by the Economics Department, and completion of freshman writing practice.
ECON 4431W - International Trade (GP, WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: Econ 4431W/Econ 4431V/Econ 443
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Theories of trade/trade patterns. Trade restrictions/commercial policy. International factor movements. Economic growth/development. Regional integration. prereq: ECON 1101 (or ECON 1165, APEC 1101), ECON 1102 (or APEC 1102), ECON 3101, ECON 3102, MATH 1271, or equivalent courses approved by the Economics Department, and completion of freshman writing practice.
ECON 4432W - International Finance (WI)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Balance of payments; international financial markets; exchange rate determination; international monetary system; international investment and capital flows; financial management of the multinational firm; open economy macroeconomic policy. prereq: ECON 1101 (or ECON 1165, APEC 1101), ECON 1102 (or APEC 1102), ECON 3101, ECON 3102, MATH 1271 or equivalent courses approved by the Economics Department and first-writing course.
ECON 4438W - Advanced International Trade (GP, WI)
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 4431W/Econ 4431V/Econ 443
Grading Basis: A-F only
Typically offered: Every Spring
Theories of trade/explanations of trade patterns. Trade restrictions. Commercial policy. International factor movements. Economic growth/development. Multinational corporations. Regional integration. prereq: [3101, 3102] or equiv, Math 1271, completion of freshman writing practice, [Math 1272 or equiv]