502. Analytical Methods for Planning. (3)
(Also offered as Pol Sc 502.) Student should have taken a basis statistics course prior to enrollment. {Fall}

503. Economic Theory. (3)
Macro and micro theory with application.
Prerequisite: None.

504. Mathematical Tools and Economic Models. (3)
Calculus and matrix theory as applied to macro and micro models. Unconstrained and constrained optimization; static and comparative static analysis; introduction to dynamic analysis.
Prerequisite: None.

505. Applied Macroeconomics. (3)
Basic macroeconomic theory applied to current economic problems and policy issues.
Prerequisites: 303 or equivalent or permission of instructor.

506. Macroeconomics I. (3)
Closed and open economy macroeconomics. Aggregate demand and supply. Different models of business cycles. Micro foundations of macroeconomics.
Prerequisites: None

508. Statistics and Introduction to Econometrics. (3)
Discrete and continuous probability distributions; expectations; joint, conditional marginal distributions; hypothesis testing; least squares estimators; violation of the least squares principle. Econometric software with applications.
Prerequisites: None.

509. Econometrics I. (3)
Theory and applications: ordinary and generalized least squares, hypothesis testing, dummy variable and distributed lag models; simultaneous equation and two stage least square models; forecasting. Emphasis on computer modeling.
Prerequisites: 508 or permission of instructor.

510. Econometrics II. (3)
Simultaneous equation methods, nonlinear least squares, maximum likelihood method, qualitative dependent variable models, asymptotic properties and test statistics. Emphasis on computer modeling.
Prerequisite: 509 or permission of instructor.

511. History of Economic Thought. (3)
Economic doctrines of major individuals and schools from the ancient Greeks to recent times with emphasis on classical and neoclassical writers.
Prerequisite: graduate status in economics or permission of instructor.

512. Economic History. (3)
Evolution of European and U.S. economies from circa 1000 AD to the present with some attention to methodology in economic history.
Prerequisite: graduate status in economics or permission of instructor.

513. Microeconomics II. (3)
Competitive equilibrium and welfare economics. Topics from imperfect competition, decision making under uncertainty, introduction to game theory and distribution theory.
Prerequisite: 501 and 504 or permission from instructor.

514. Macroeconomics II. (3)
Dynamic macroeconomics. Optimal economic policy. Theories of economic growth.
Prerequisites: 504 and 506 or permission from instructor.

515. Monetary Theory and Policy. (3)
Money, monetary institutions, policy actions; effects on economic activity. Inflationary dynamics, steady state inflation and welfare cost of inflation. Unsettled issues in monetary policy; analysis of alternative monetary regimes.
Prerequisites: 503 and 504.

517. Law and Economics. (3)
Economics provides an illuminating means of analyzing legal decisions and rulings. Topics in law: contracts, torts, and administrative law. Applications: environmental economics, public finance, and labor economics.
Prerequisite: 501 and 504 or permission of instructor.

519. Seminar in Applied Econometrics. (3)
Advanced econometric methods applied to economic fields. Focus on research projects and journal articles.
Prerequisite: 510.

520. Labor Economics. (3)
Determination of optimal wage and employment. Demand and supply of labor, wage theory, education, migration, unions, labor market discrimination and full employment policies.
Prerequisite: 501 or permission of instructor.

521. Comparative Labor Problems. (3)
Immigration issues, labor markets in Latin America, and other comparative labor issues.
Prerequisite: 501 or permission of instructor.

522. Selected Groups in the Work Force. (3)
Employment problems of special groups (e.g., African-Americans, Hispanics, women, youth) in the work force. How economic theories explain their economic status. Economic models (education, school quality, occupational choice).
Prerequisite: 501 or permission of instructor.

533. Seminars in Industrial Organization. (3)
Industrial organization is the study of firms and markets. Course covers firms internal organization and the interactions of firms' in markets that are competitive, oligopolistic, or monopolistic.
Prerequisite: 501 and 504, or permission of instructor.

534. Experimental Economics. (3)
Working markets in laboratory setting. Designing market experiments. Experimental investigations of simple market organization. Examination of more complex settings. Applications: theory, environmental, public finance, and labor.
Prerequisite: 501 or 503 or permission of instructor.

535. Evaluation of Public Programs. (3)
Use of benefit-cost analysis as the principal means of evaluating public sector programs such as bridges, dams, roads, reservoirs, consumer product safety regulation and environmental regulations.
Prerequisite: 501 and 504 and an undergraduate Public Finance course, or permission of instructor.

538. Topics in Applied Economics. (3)
Special topics in applied economics as they pertain to the major fields and support courses. Available for use by visiting faculty.
Prerequisite: 501 and 504, or permission of instructor.

540. Environmental and Natural Resource Modeling. (3)
Dynamic optimization and optimal control theory applications (deterministic and stochastic). Optimal resource utilization, pollutant stocks, principal agent problems, etc. Computer solution of models. Students will develop and solve a research problem.
Prerequisite: 501 and 504, or permission of instructor.

541. Sustainable Development. (3)
Seminar of the political economy of sustainable development with emphasis on the management of large natural systems, particularly river basins.
Prerequisite: None

542. Environmental and Natural Resource Economics: Survey. (3)
Overview of environmental and resource concepts, models and issues. Mass balance, property rights, common property, public policy, externality theory, non-market valuation, resource scarcity, renewable and nonrenewable resource management.
Prerequisite: 501 or permission of instructor.

543. Natural Resource Economics. (3)
Models of natural resource utilization. Fossil fuels, hard rock minerals, fisheries, forest resources, groundwater and surface water.
Prerequisites: 540 or permission of instructor.

544. Environmental Economics. (3)
Causes and consequences of environmental externalities. Design and implementation of alternative policy instruments. Theory and methods to measure economic value of market and non-market environmental services.
Prerequisites: 501 and 504, or permission of instructor.

545. Interdisciplinary Water Resources II. Modelling and Communications Lab. (4)
(Also offered as Pub Ad 572.) Use of technical models in water resources management addresses conceptual formulation and practical application of models from administrators perspective. Lab focuses on use of graphic aids to explain technical materials. {Spring}

551-552. Independent Study. (2-3, 2-3 hrs. per semester)
An indiependent study course on economic problems or issues. The study is carried out under the supervision of an economics faculty member.
Prerequisite: permission of instructor.

560. Introduction to Public Finance. (3)
An introduction to the advanced study of public finance. Issues covered include welfare theory, market failure, externalities and public goods, public choice, taxation and government expenditure.
Prerequisite: 501 and 504, or permission of instructor.

562. Normative Theories of Public Finance. (3)
Welfare theories, general equilibrium, market failure, income distribution, optimal taxation, first best analysis and cost benefit analysis.
Prerequisite: 560, or permission of instructor.

565. Positive Theories of Public Finance. (3)
The behavior of politicians and bureaucrats, taxpayers, the distribution of tax burdens and government subsidies, and the behavior of state and local governments. Additional topics as time allows.
Prerequisite: 560, or permission of instructor.

570. Institutional Economics. (3)
Examines the American contribution to economic thought deriving from work of John R. Commons, Thorstein Veblen, Walton Hamilton and other institutional economists in the first half of the twentieth century.
Prerequisite: permission of instructor.

580. International Trade. (3)
Causes and patterns of trade; welfare and distributional effects of trade; effects and political economy of trade policies such as tariffs, quotes, export subsidies; regional economic integration; international factor movements. With empirical applications.
Prerequisites: 501 and 506, or permission of instructor.

581. International Finance. (3)
Balance of payments adjustment; exchange rate determination, international financial flows, economic policies under alternative exchange rate regimes; regional monetary integration and the international monetary system. With empirical applications.
Prerequisites: 501 and 506, or permission of instructor.

582. Economic Development: Theory. (3)
Examines theories of development in less developed countries and other regions. Explore growth, trade policies, price stability, technology transfer, income distribution and other issues related to development.
Prerequisite: 501 and 506, or permission of instructor.

583. Economic Development: Applications. (3)
Applies economic development theories to country-wide studies including Latin America and other developing countries.
Prerequisite: 501 and 506, or permission of instructor..

584. Interdisciplinary Seminar on Problems of Modernization in Latin America. (3)
(Also offered as Hist, Pol Sc, Soc 584). {Spring}

595. Workshop in Applied Economics. (1-3)
Research problems. Student presentations of methodology and results. Research projects may be student-directed or undertaken in conjunction with regular and/or visiting faculty.
Prerequisites: permission of faculty advisor, graduate advisor and instructor.

599. Master's Thesis. (1-6 hrs. per semester)
Offered on a CR/NC basis only.

699. Dissertation. (3-12 hrs. per semester)
Offered on a CR/NC basis only.