Economics
Course Outline
MICROECONOMICS
& MACROECONOMICS: -
Microeconomics:
-
Analysis of supply and demand in markets
for goods and markets for the factors of
production. Study of various market structures,
price determination in perfectly competitive and
imperfectly competitive markets. Optimization
models of the consumer and firm are used to study
competitive and noncompetitive markets. Topics in
welfare economics, the theory of market failure,
tax incidence, and income distribution are
discussed. Empirical research based on
microeconomic models is reviewed.Rigorous
analysis of models of consumers and firms and
their interaction in markets. Topics:
optimization, uncertainty, perfect and imperfect
competition, game theory.This
course provides an in depth review of theories of
demand, production, general equilibrium, market
failures and welfare economics.This course
provides a brief review of demand and production,
general equilibrium and welfare economics. Topics
such as core equivalence and efficient provision
of public goods may be considered in depth. In
addition, the course provides a substantial
introduction to cooperative and non-cooperative
game theory and its applications. Introduction
to price theory, distribution theory, and market
structure analysis. Relevance of economic theory
in production and consumption decisions.
Macroeconomics:
-
Examination of the institutional structure of an
economic system. Analysis of aggregates economic
activity, the determinants of the level,
stability, and growth of national income, the
role of monetary and fiscal policy.Theories of
national output, employment, and prices. Analysis
of policies for stabilization and growth.
Empirical research and applications are reviewed
.This course provides in depth
coverage of current topics in microeconomic
theory. Topics will be drawn from: decision
making under risk and uncertainty;
non-cooperative games; general equilibrium;
equilibrium concepts and refinements; correlated
equilibrium; repeated games; applications of game
theory to principal agent models and models of
screening and signaling; cooperative games,
bargaining, auctions, common knowledge,
implementation, evolutionary games and theories
of learning. It then introduces dynamic
equilibrium models: two-period models, the
overlapping generations model, and the
neoclassical one-sector growth model, with
applications to asset-pricing, growth, business
cycles, aggregate consumption, and fiscal policy.
Introduction to the measurement of
national income and the theories of aggregate
demand and supply; theoretical analysis of growth
and fluctuations in production, employment, and
prices.
PUBLIC
ECONOMICS: -
Public
Microeconomics: -
Microeconomic analysis of the role of the public
sector in resource allocation within a market
economy: theory of market failures, alternative
corrective measures for market failures, public
choice theory, partial and general equilibrium
analyses of major taxes, and welfare-based public
investment criteria.
Public
Economics: -
Introduction to public
economics with emphasis on public expenditure.
Market failure and the role of the public sector
in the provision or regulation of private goods,
public goods, shared goods, externalities and the
redistribution of income. Collective decision
making through the political process. Fiscal
federalism and inter-governmental grants.
Normative and positive aspects of tax theory:
optimal taxation and redistribution, more on the
marginal cost of public funds, the theory of tax
reform, the effects of taxation on markets for
goods, labour and capital, tax incidence,
intergenerational transfers.Emergence of
fiscal policy, scope of government intervention
in the national economy, theories of fiscal
policy. Economic goals of stabilization, full
employment, growth, and income redistribution.
Administration of fiscal policy.
The courses in this module
include courses that focus on economic analysis
of employment, earnings, and the labor market,
and related government policies; the analysis of
the impact and influence of demographic trends;
and courses addressing microeconomic issues in
public economics, including government spending
and taxation. Also examined in more depth are a
number of applications in such specific areas of
microeconomic public policy as environmental
economics, urban economics, and health economics.
Public
Finance: -
A comprehensive survey
and analysis of the principal fiscal activities
of contemporary government, logic of public
sector activity, taxation principles and
practice, intergovernmental relations, and
current fiscal problems; Urban Economics -
Application of economic theory to urban problems,
including slums, residential segregation,
intracity location of economic activity, urban
renewal, urban sprawl, transportation,and
government organization; Advanced Public Finance
I - A theoretical and empirical investigation of
the economic behavior of the public sector,
theory of social goods, problems of tax
structure, incidence, and multi-unit finance;
MATHEMATICS,
STATISTICS AND ECONOMICS {ECONOMETRICS}: -
Econometrics:
-
Introduction to econometrics, including the
discussion of probability and distribution theory
and their use in developing methods of hypothesis
testing, parameter estimators, and the regression
model. The single equation linear regression
model in a matrix algebra context and its
application to economic problems. Ordinary least
squares, generalized least squares, and other
extensions of the standard model. Single equation
regression under special conditions and
development of the multiple equation linear
regression model.Advanced simultaneous equations
estimation and testing procedures; models that
use both cross-section and time-series data,
varying parameter models; diagnostic tests, model
selection and pre-test estimators; non- linear
regression models; time-series and distributed
lag models; introductory Bayesian methods.Topics include the method of moments,
the geometry of ordinary least squares,
hypothesis testing and confidence intervals,
nonlinear least squares, instrumental variables,
generalized least squares, the generalized method
of moments, and maximum likelihood. This is a
course intended for specialists in econometrics.
It deals primarily with the asymptotic
distribution theory of nonlinear least squares,
generalized least squares, the generalized method
of moments, and maximum likelihood. Other topics
include specification testing, binary response
models, and simultaneous equations estimators.
Review of the general linear
model, identification, estimating criteria,
single and simultaneous equation estimation, and
econometric application. Theory and application
of advanced quantitative research methods,
computer application of econometric; Time Series
Econometrics - Fundamental elements of
time-series methods, as well as recently
devel-oped techniques for the analysis of
economic time series.
Applied
Econometrics: -
Application of the single and multiple equation
regression models to the estimation and testing
of specific economic theories using both micro
and macro data; advanced econometric forecasting
and business cycle analysis; Application of
regression to a problem chosen by the student.
Some general discussion of data sources, the
derivation of index numbers and other problems
that might be encountered in estimating economic
relations. Emphasis is on class presentation and
analysis of student projects.
Mathematical
Economics & Game Theory: -
Mathematical Economics I - Mathematical analysis
of microeco-nomic problems, including consumer
and production theory and general equilibrium;
Mathematical Economics II - Mathematical analysis
of macroeco-nomic problems, including static and
dynamic systems and optimal control.
Macroeconomic
Modeling, Forecasting and Policy Analysis: -
Introduction to the construction and use of
econometric macro models, including theoretical
specification, statistical estimation and
validation; the structure of large-scale macro
models; forecasting and policy analysis;
critiques of current macroeconomic modeling.
Quantitative
Methods: -
Introduction to quantitative methods in
economics. Techniques of data analysis,
statistical theory, and linear regression are
applied to economic problems. Econometric
extensions of linear regression, forecasting, and
methods of analyzing time-series and
cross-section data.
ECONOMIC
DEVELOPMENT: -
Economics
of Development: -
A rigorous introduction emphasizing (1) major
themes and debates in the literature, (2) micro
and macroeconomic modeling of development
processes, and (3) review of empirical evidence.
Topics include the economic theory of
accumulation, growth and distribution;
transformation of traditional agriculture; the
microeconomics of rural development; and the role
of international trade in development. focusing
on recent advances in some of the following
areas: models of structural change, development
strategies analyzed in general terms or in the
context of specific countries, agrarian
organization and systems of land tenure, labor
markets and human resource development, financing
of development and trade policies. Historical,
descriptive, and analytical approaches to the
analysis of underdeveloped countries; the process
of economic development; alternative theories and
policies of economic growth and development.
MONEY
BANKING AND FINACIAL ECONOMICS: -
Money
and Banking in the macroeconomy and Financial
Markets: -
The principles of money, commercial
banking, and central banking; an elementary
consideration of issues of monetary policy and
financial markets.The courses in this module
provide analysis of macroeconomic issues
including money, credit, and financial
intermediation; measurement and theories of
business cycles; the role of monetary and fiscal
policy in economic stabilization; international
finance and the world monetary system; and
economic forecasting. A course
which uses elementary stochastic processes in the
study of asset pricing under rational
expectations (interest rates and inflation,
volatility, bubbles, risk premiums, term
structures), the demand for money, evidence on
money in business cycles, the optimal quantity of
money, and monetary policy (targetting, rules,
credibility) in theory and practice.
Topics in microeconomic
foundations of monetary theory: the role of
money, transactions and precautionary theories,
money in general equilibrium, portfolio choice,
the capital asset pricing model,
Modigliani-Miller theorems, the term structure of
interest rates, financial intermediation, and
overlapping generations monetary models.
International
Finance : -
The foreign exchange market and international
payments are described and analyzed. Emphasis is
placed on analyzing the implications of price
levels and employment in small and large
countries. Proposals for exchange management and
reform of the international monetary system are
evaluated.
Public
Finance: -
Introduction to the financial problems of
governments: public expenditures, basic kinds of
taxes and tax systems, grants-in-aid, public
borrowing, debt management, and fiscal policy.
Problems of financing state and local government
within the context of a federal system. Relevance
and limits of fiscal theory for state and local
government tax and expenditure policy.
Metropolitan economics: taxes, fees, bonds, cash
management, and state and federal revenue
sharing. Delivery of education, housing, and
welfare services. Industrial development. Market
failures and the collective decisions that must
be made in their wake, public goods, Tiebout
hypothesis, externalities, and income
distribution. Theory and practice of taxation,
tax incidence, optimal taxation, theory of
regulated firms and decision rules for government
investment.
Financial
Economics : -
Financial markets, efficient-market theory,
financial panics, choice under uncertainty, risk
aversion, portfolio choice, capital-asset pricing
model, futures, options, flow of funds, saving
and investment, financing economic development,
government debt, international debt, term
structure of interest rates, interest rate
forecasting. A study of theories of
decision-making within corporations, with
empirical evidence as background. Topics include
capital budgeting, risk securities issuance,
capital structure, dividend policy, compensation
policy, mergers and acquisitions, options and
financial engineering.Presents the results of
recent research emphasizing the fragility of
financial markets and its impact on the
macro-economy. Topics include speculative attacks
on fixed exchange rates and interest rate
pegging, bubbles in asset markets, pricing of
multiple currency contracts, money and clearing
systems
Financial
Derivatives: -
Using the
binomial-pricing model, this course shows that in
a market characterized by the absence of
arbitrage, there exists an equivalent martingale
probability such that normalized prices are a
martingale. This result forms the basis for the
majority of models used to price and hedge
derivative securities. Given this result, the
course will examine the pricing and hedging of
derivatives in equity, foreign exchange, indices,
interest rates, and credit, as well as swaps and
non-standard instruments.
INTERNATIONAL
ECONOMICS & WORLD ECONOMICS: -
Theory
of International Economics: -
Advanced analysis of the pure theories of trade,
commercial policy and resource transfers, and the
theories of balance of payments adjustment and
policy. Students are expected to be able to
employ the tools of calculus and linear algebra
in economic analysis.
Advanced Microeconomic Trade Theory - Advanced
non-monetary international trade theory, analysis
of the effect of trade and commercial policies on
the allocation of resources, income distribution,
and growth; Advanced Macroeconomic Trade Theory -
Advanced monetary international trade theory,
open economy macroeconom-ics, and foreign
exchange rates; Economic Growth and International
Trade - Topics concerning the evolution of the
world economy from both theoretical an empirical
perspectives, including Solow growth models,
optimal economic growth with heterogeneous
agents, models of overlapping generations, and
endogenous economic growth.
International
Monetary Economics & Foreign exchange
markets:-
This course surveys modern open economy
macroeconomic models, including the
Mundell-Fleming model, the monetary and asset
market approaches, and modern models grounded in
microfoundations. It also covers special topics
of current interest, such as purchasing power
parity, interest rate parity, international
policy coordination, and collapsing exchange rate
systems. Description and analysis of currency
markets, emphasizing their roles in the business
environment. Topics include spot forward,
futures, and options markets, currency, and
interest rate swaps, models of exchange rate
determination, the operation and relative merits
of fixed and flexible exchange rate systems, and
the management of exchange rate risk by business.
Foreign exchange markets, emphasizing theoretical
and empirical issues and their relation to the
business environments. Topics include exchange
rate regimes, efficiency, forecast measurement
and management of foreign exchange risk forward
and futures markets, options, swaps, and
multi-currency bonds.
International
Trade Theory & Policies: -
Theoretical, institutional, and empirical
characteristics of trade and capital movements
between nations. Review of the pure theories of
comparative advantage, gains from trade,
commercial policy, and resource transfers. Brief
review of modern balance of payments theory and
policy question.Theory of comparative advantage,
trade, and income distribution. Welfare analysis
of trade: gains from trade, evaluation of the
effects of trade policy instruments--tariffs,
quotas, and subsidies. Trade under imperfect
competition. Strategic trade policy. Analysis of
specific policy issues: the analytics of trade
policy reform, trade, labor markets and wages,
preferential trade agreements, and the world
trading systems. International trade theory and
policy including a brief history of foreign
trade, development of basic international trade
theory, examination of the instruments of
international trade policy and their economic
effects, recent tendencies in commercial policy,
the theory and practice of regional economic
integration arrangements, the purpose and
functioning of international economic
organizations, and examination of trade problems
of less developed countries.
International
Economic Relations: -
The development of international trade and trade
theory since mercantilism; international
financial institutions, the foreign exchange
market, and the problems of international balance
of payments and international liquidity
International
Marketing: -
A study of the international dimensions of
American enterprise and the background of the
international environment. Includes international
trade concepts, cultural dynamics, business
customs, multinational markets, development
markets, and influence of political, legal, and
geographic factors on international marketing.
The
Global Majority: -
Introduction to the plight
of less-developed countries, to alternative paths
of development, and to the relationships between
the more-developed and less-developed countries.
The central theme of economic development is
based on elementary economic theory. Equally
important, human dimensions of development are
emphasized through the use of novels and films
from less-developed countries. Usually offered
every term.
Global
Economic Integration and Entrepreneurship: -
Several areas around
the globe are undergoing a process of economic
integration involving the creation of free trade
areas, custom unions and currency unions. This
process has crucial implications not only for the
macro performance of global and national
economies, but also for entrepreneurial
businesses working within this dynamic
environment. The course is divided into two
parts. The first part examines the factors that
motivate the process of economic and monetary
integration, with special attention devoted to
the study of integration within particular
regions, namely Europe, North America and Asia.
The course explores the benefits of trade and
monetary integration and analyzes the conditions
that need to be satisfied for countries to enjoy
these benefits. The second part of the course
studies several aspects of entrepreneurship with
particular attention to the opportunities and
challenges that larger and more integrated
markets create for entrepreneurial initiatives.
Special attention is devoted to the financing of
new and small enterprises and the development of
the venture capital market. The ways in which
entrepreneurship affects the economic growth of
the country and the factors that stimulate
entrepreneurship are additional areas of focus.
Gender
Roles in the Economy : -
Explores the gender
dimensions of economic life. For economics
majors, an in-depth look at the different roles
of men and women in the community, the market,
and within the household, and how these are
affected by economic and social change. For
women’s studies and other social sciences
majors, the discipline of economics is brought to
bear on the study of women’s and men’s
well-being and status in society. Usually offered
every fall
Comparative
Economic Systems: -
Analysis of capitalism, the mixed economy,
socialism, and communism: the ways in which
economic activities are organized; the role of
monetary and financial institutions; the
organization of industry, of agriculture, and of
trade; the allocation of resources among
competing goals, consumer sovereignty with
economic planning. The organization, structure,
and performance of the economy of the People's
Republic of China. 'Transition to socialism';
industrial strategy; the commune system; ideology
and economics; and the post-Mao economic reforms
in agriculture and industry. Both analytical and
descriptive methods used.
BUSINESS
ECONOMICS: -
Managerial Economics: -
Application of economic concepts to the decision
making of the firm. Topics may include market and
demand analysis, risk and uncertainty, pricing,
production, investment decisions, and capital
budgeting.
Business
Cycles and Forecasting: -
Examines basic causes of fluctuation in business
activity. Topics include an examination of
exogenous and endogenous influences on Gross
National Product and other measures of economic
activity, and the relationshipbetween cycles in
Gross National Product and cycles in particular
industries and companies. The course emphasizes
methods and techniques currently in use by
business forecasters.
Contemporary
Government and Business Relations: -
The impact of government on market outcomes and
business decision-making. Topics covered include
the historical development of business and public
policy, the current state of antitrust
enforcement; issues involving multinational
corporations; the basis for regulated markets and
forces favoring deregulation; the impact of
consumer protection laws, environmental
protection policies, occupational and safety
enforcement; and affirmative action policies on
business; and the outlook for government and
business relations in the future. Not open to
students who have had PSC 4380.
Economics
for Business Decisions and Resource Valuations: -
Applications of economic theory in the
measurement and valuation of resources, including
study of cost-benefit analysis in public and
private investment decisions. Other topics
include externalities, anti-trust, regulation,
property rights, and uncertainty.
LABOR
ECONOMICS: -
Labor
Economics: -
Theoretical and empirical analysis of the supply
and demand for labor, human capital and the
education-income nexus, wage differentials,
discrimination, job search, unemployment, and
other problems. Study of wage theories and wage
structures; wage-cost-price interaction; and
wage, supply, and employment relationships.This course provides an overview of
current topics in labor economics. Particular
emphasis is placed on equilibrium search and
matching models, with applications to labor and
marriage markets. Other topics may include the
analysis of welfare programs, fertility and human
capital theory. Neoclassical approach to
labor market analysis. Special attention is paid
to the study of labor market phenomena from a
microeconomic perspective, including the theory
of wage rate determination, the concept of
investment in human capital, the problems of race
and sex discrimination, unemployment, and the
impact of unionization on the structure of wages.
Advanced Labor Economics - Economic theory and
empirical evidence relating to labor allocation
and wage determination; Advanced Economics of the
Labor Market - Static and dynamic labor supply
life-cycle models, participation and selection
bias, unemployment, duration models and labor
market histories, and evaluation of training
programs.Upon completion of this course a student
will have a general working knowledge of the
state of the art in labor market analysis and
research.
INDUSTRIAL
ECONOMICS: -
Industrial
Organization: -
This course focuses on
the analysis of market structure and market
conduct. Topics include oligopoly theory, dynamic
competition, price discrimination, auctions and
industry dynamics. Topics include: i)regulation:
the theory of the firm, pricing policy,
distortions, political economy; ii)competition
policy: analysis of policy in light of
behavioural models of specific practices; and
iii)quantitative studies: emphasis on integration
of analytic framework and empirical
investigation. Theory of the public
interest, market failure, equity, and other
justification for government expenditure and tax
policy. Comparison of political and economic
rationale for decision making.
URBAN
ECONOMICS: -
Urban
Economics: -
Analysis of the city-metropolis and the economic
forces which condition its growth pattern and
allocation of scarce resources. The public
sector, especially local government, is examined
in its role of solving the problems of inadequate
jobs, housing, education, and other
services.Analysis of the growth of metropolitan
areas with special emphasis on the spatial
distribution of population and employment within
such areas. Urban problems and associated policy
issues: congestion, pollution, poverty, housing,
governmental structure, and the fiscal crisis of
local governmentFocuses on the use of economic
tools to analyze the key intraregional
markets-land and housing, transportation, labor
and public services-and examines their public
policy implications. Also examines interregional
relationships, the growth and decline of cities,
and the economics ofurbanization.
Designed for either economics or urban studies
concentrators. Examines urbanization processes
and urban public policy in developing countries,
including Korea, Indonesia, India, and China.
Also draws on historical and recent experience in
the U.S. Policy areas include policies affecting
urbanization, migration, and industrial location;
policies affecting housing, land use, and urban
form; and policies affecting fiscal
decentralization and infrastructure investments
such as transportation.
HEALTH
ECONOMICS: -
Economic
Analysis for Health Policy and Management and
Evaluation: -
This course introduces students to policy
analysis and management by examining issues in
the health sector. It fosters an appreciation of
the complexity of policy problems and provides
the basic tools used in policy design,
implementation and evaluation.Major issues in
health and medicine using the theoretical and
empirical tools of economics. We assess economic
models of health behaviors and market structures
inclusive of insurance, physician and hospital
services, and consider the implications of these
models for the formation of policy. Examples from
both developed and developing countries are
considered This course introduces students to the
basic concepts of economic theory as they are
applied to issues in the health sector. Topics
include: the supply and demand of health
services; resource allocation; the demand for
health, health care and health insurance; and the
role of government intervention and regulation in
the health care market.
Current issues and research in health policy
are analyzed using a political economy Policy
topics include: Controlling risk and uncertainty
in insurance and health care markets, Incentives
for profit and non-profit status, Health care
quality and cost-containment in fee-for-service
and managed care regimes, Rules vs. Incentives
for health care delivery, Graduate medical
education and malpractice reforms, Industry
incentives in technology acquisition, and Equity
and ethical dilemmas in efficiency
evaluations.Economics concepts are used to
explain the nature of demand and supply in the
health care field. The behavior of consumers and
health care providers is examined from an
economic perspective. Areas of market failures
and the rationale for government intervention are
also described.
THEORITICAL
ECONOMICS : -
Contract
Theory: -
Recent developments in
contract theory. Includes hidden action and
hidden information models, dynamic agency issues,
incomplete contracts, and applications of
contract theory to theories of the firm and
corporate financial structure
Static
Optimization and General Equilibrium Theory: -
The first part of the
course covers the basic optimization techniques
used in static economic analysis and their
application to a number of problems in economic
theory. The second part of the course is devoted
to static general equilibrium theory. The major
emphasis is placed on the proof of the existence
of a competitive equilibrium and the proof of the
classical optimality properties of competitive
equilibrium. Other topics which may be covered
include the computation of equilibrium,
non-Walrasian equilibrium theory, n-person game
theory and its applications to economic models,
monopolistic competition, the Leontief economy,
the two-sector general equilibrium model, duality
theory, index numbers and aggregation.
Dynamic
Economic Theory: -
Covers the mathematics
used in dynamic economic theory and its
application to a number of topics. These may
include the stability of Walrasian and
non-Walrasian economies, capital and growth
theory, planning in developed and underdeveloped
economies, comparative dynamics, regulation and
decentralization in mixed economies, the
harvesting and extraction of reproducible and
non-reproducible resources.
Experiments
and Game Theory: -
The course will focus
on the intersection of research in experimental
economics and game theory. The dialogue between
these fields has had an important influence on
research topics for game theorists and on topics
and methodology for experimentalists. There will
be approximately equal weight on game theory and
experimental methods and evidence. Game theory
topics include evolutionary game theory, learning
models, and the logic based models of knowledge
and belief revision. The experimental topics will
include design considerations and data analysis
in the context of providing feedback for the
development of the theory.
International
Macroeconomic Policy: Theory and Evidence from
Recent Financial Crisis: -
Introduction to
international macroeconomics and review and
analysis of current international macroeconomic
and financial issues, policies and events,
including: interest rates, exchange rates and
asset prices in the global economy; causes and
consequences of trade deficits an external
imbalances; the Asian and the global financial
crisis of 1997-99 and the policy response to it;
causes of currency, banking and financial crises;
short and long-term effects of monetary and
fiscal policy; the drive to reform the
international financial architecture; the debate
on IMF and World Bank reform; emerging markets
external debt and attempts to restructure it (the
"bail-in / "burden sharing"
debate); and the globalization of financial
markets. These topics are integrated into a
theoretical framework that stresses international
factors from the start. Examples from the US,
Europe, Japan and emerging market economies are
used to enhance knowledge of the world economy
ENIVRONMENTAL
ECONOMICS: -
Energy
Economics, Resources, and the Environment : -
A systematic introduction
to the policy issues associated with the changing
role of energy and other resources in modern
economics. Specifically, a microanalytic approach
is used to evaluate complex policy problems
associated with economic growth, energy
development, and environmental externalities. For
graduate students and advanced undergraduate
economics majors. Usually offered every fall.Environmental
pollution, social costs, population control,
zoning, economics of public health, conservation
of endangered species, natural wonders and
artifacts, natural resource exhaustion, and end
of progress hypotheses are examined and analyzed.
ECONOMICS
HISTORY: -
History
of Economic Thought : -
The evolution of modern economics with emphasis
on the contributions of such writers as Smith,
Malthus, Ricardo, Mill, Marx, Marshall and
Keynes. The turn of events that motivated the
construction of the main body of economic
knowledge is also examined.Historical and
analytical study of economic thought, beginning
with Mercantilism and including the following
schools of thought: Physiocratic, Classical,
Marxian, Austrian, Neoclassical, Institutional,
Keynesian, and Post-Keynesian. Development of
economic thought in relation to its economic and
institutional background from the ancient
philosophers to Alfred Marshall and neoclassical
economists. Emphasis is placed on the
contributions to economic thought of the
founders.
The
Third World Economies: An Interdisciplinary
Profile:
An interdisciplinary study of economic
disparities among nations. Focus on Third World
Countries: underdevelopment and poverty, problems
in agricultural and industrial development.
Population growth and unemployment. Global
interdependence and role of the United States.
Some global issues facing the Third World: debt
crisis; privatization and deregulation;
relationship with developed countries including
the United States.
SOCAIL
JUSTICE,LAW AND ANTI-TRUST ECONOMICS: -
Economics
of Law: -
The application of economic concepts such as
efficiency, externalities, and trade-offs to the
analysis of common law, crime and punishment,
product safety laws, and other legal
interventions in market and nonmarket behavior.
Examination of the behavior of firms in different
market environments, industrial concentration,
size and efficiency of business firms, market
structure and performance, decision making and
strategic behavior, anti-trust and regulation
issues, analysis of property rights, contractual
arrangements, illegal behavior, and the effect of
liability rules on business behavior.
Social
Choice and Economic Justice: -
Conservative, liberal, and
radical normative theories. Conflicts between
efficiency, equity, and liberty. Major
contemporary writers on the "just
economy." Institutional constraints, the
role of the market, voting paradoxes, and the
nature of social choice. Concepts of economic
rationality. Economic justice and contemporary
policy
Economics
of Regulation and Antitrust: -
Analysis of various methods by which the
government attempts to control the economic
performance of the private sector. Economic
analysis of government policies affecting
business behavior, with focus on the U.S.
economy. In addition to antitrust (or
competition) policy and traditional public
utility regulation, price and entry regulation in
transportation and service sectors, and social
(health, safety, and environmental) regulations
are also evaluated.
OTHERS:
-
Engineering
Economic Analysis: -
Designed to provide an economic foundation
for engineering decisions. The course stresses
methods for making optimum choices among
engineering alternatives. Topics include cash
flow and present value analysis; break-even
analysis; the impact of taxes and inflation on
investment decisions; methods for assigning
costs; the treatment of risk in decision making;
and capital budgeting.
Economics
of Poverty and Discrimination: -
Market and nonmarket issues in income
determination. Emphasis on the supply and demand
model and its application to the analysis of
poverty and the poverty population. The effects
of labor incomes and demographic and
institutional factors of living standards,
achievements, and shortcoming of income
maintenance (welfare), equal opportunity and
employment programs will be analyzed.
Economic
Reasoning and Policy Analysis: -
An integrative capstone course for economics
majors in which the technique of economic
analysis are applied to a wide range of issues.
Emphasis on the application of basic and advanced
economic theoretical and empirical techniques to
the analysis of issues relevant to the
student’s undergraduate degree program and
career goals. Basic concepts emphasized
throughout the course includes the effect of
incentives on behavior, the role of markets as
resource allocation mechanisms, and the use of
optimization analysis as a standard for comparing
outcomes.
Economics
of Aging: -
Business only with consent of the Associate Dean
for Graduate Programs. For the non-economist, an
examination of the economic implications of the
changing age structure of the population, the
economic status of the elderly, labor force
participation and retirement decisions, pension
issues, and other macroeconomic implications. The
course will provide an agenda for both the
present and future challenges facing policy
makers, planners,program administrators, and
researchers in the field.
Energy
Economics: -
Origins of the energy crisis, the effect of oil
prices on inflation and the international
monetary system, the origins and nature of OPEC,
the economic feasibility of alternative energy
sources, U.S. energy policy alternatives, and
other current issues in the field of Energy
Economics. A portion of the course is devoted to
examining the energy industry in Texas
and the Southwest.
Cost-Benefit
Analysis: -
A course covering the
techniques and applications of cost-benefit
analysis including project and policy evaluation
in the context of both developed and developing
economies. Topics include: the welfare-economic
foundations of cost-benefit analysis, investment
decision rules, the choice of a social discount
rate, risk and uncertainty, shadow pricing of
inputs with and without distortions, and special
problems of evaluation of policies and projects
involving non-market goods, environmental impacts
and other social objectives. In-depth
coverage of social benefit/cost analysis of
investment projects in LDCs with particular
coverage of identification of national benefits
and costs as well as alternative shadow pricing
techniques. Hands-on analysis of several
investment projects with use of PC-based
computational aides.
The
Pricing of Derivative Securities: -
Explores the theory and
applications of derivative security pricing and,
in particular, the interaction between an elegant
mathematical theory and real-world application.
Topics include binomial option pricing model,
Black-Scholes option pricing formula,
no-arbitrage and equivalent martingale measures,
Ito's lemma, term-structure models,
mortgage-backed securities.
Network
Economics: -
Introduction to network economics, information
economics, and electronic commerce. Markets such
as publishing, telecommunications, electricity,
and electronic commerce will be examined.
The
Distribution of Income and Wealth: -
Theoretical, empirical, and institutional
analysis of the distribution of income and
wealth, including policies and programs designed
to affect these distributions.
Computer
Applications in Economics: -
Introduction to computer use and applications in
economics, econometrics, and data analysis.
Applications may include spreadsheet software
such as Excel and statistical software such as
SAS.k
For any Corrections
or updation E-mail
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