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2017-2018 Graduate Bulletin

Department of Economics

College of Social Sciences and Public Policy

Web Page: http://www.coss.fsu.edu/economics/

Chair: R. Mark Isaac; Professors: Atolia, Cooper, Gwartney, R. Holcombe, Ihlanfeldt, Isaac, Kantor, Marquis, Mason, S. Norrbin, Rasmussen, Schmertmann; Associate Professors: Beaumont, Hamman, Pevnitskaya, Ryvkin, Semykina, Zuehlke; Assistant Professors: Baek, Boosey, Cano Urbina, Clapp, Dmitriev, Goerg, Grossman, Kitchens, Kreamer, Krishna; Associate Teaching Professors: Calhoun, Hammock, L. Holcombe, O. Norrbin, Sherron; Assistant Teaching Professors: Hammock, McCaleb; Courtesy and Adjunct Professors: Bergan, Evans, Großer, Mungan, Stratis; Professors Emeriti: Benson, Canterbery, Cobbe, Downing, Fournier, Laird, Macesich, Rockwood, Schlagenhauf

The Department of Economics offers programs leading to the Master of Science (MS) in Applied Economics, the Master of Science (MS) in Economics, and Doctor of Philosophy (PhD) in Economics degrees.

The department has a history of emphasizing research and publication. Department graduates have found a ready market in academe, in government at all levels, and in business. The department offers students an opportunity to specialize in ten different fields, in addition to core areas of study. At least two professors have expertise in any given field of specialization. These factors, along with a highly favorable student-faculty ratio, permit much personal interaction between students and professors and allow for considerable flexibility in the program of study a student might choose.

In addition to listed fields of study, the department offers students the opportunity for interdisciplinary work. A variety of interdisciplinary programs are available, including demography, gerontology, economics of education, law and economics, urban economics, and economic policy and government. Specialties in other fields outside the department, particularly statistics, finance, and other areas in the social sciences, are also available.

A detailed description of graduate work in economics appears in the Guide for Graduate Students in Economics. The Guide may be obtained by visiting the department Web page at http://www.coss.fsu.edu/economics/.

Admission Requirements

The Department of Economics accepts applications for two programs: Master of Science (MS) in Applied Economics and Doctor of Philosophy (PhD) in Economics. Both programs begin in the Fall semester. The Master of Science (MS) in Economics degree is only available to students admitted to the Department of Economics at the PhD level.

A score of at least 148 on the verbal aptitude portion and 148 (MS) or 151 (PhD) on the quantitative aptitude portion of the Graduate Record Examination (GRE) and an upper division undergraduate grade point average of at least 3.0 are required for admission. Prior graduate training must show a minimum grade point average of 3.4.

Applicants should provide the department with official transcripts from all prior institutions, a statement of purpose, a resumé or curriculum vitae, and at least two (MS) or three (PhD) letters of recommendation addressing the applicant’s potential for graduate study. Academic recommendations are preferred.

International applicants, whose native tongue is not English, must achieve a minimum score of 90 on the IBT Test of English as a Foreign Language (TOEFL). With the approval of the University Office of Graduate Admissions, an exception to this rule can be made for those who have a degree from an English-speaking country.

Applied MS applicants are required to complete Principles of Macroeconomics and Microeconomics, one semester of calculus, and one semester of statistics prior to starting the program. In addition, applicants need to have sufficient upper-level economics courses to demonstrate a thorough understanding of economics. Such an understanding is best demonstrated by doing well in Intermediate Microeconomics, Intermediate Macroeconomics, and Econometrics. PhD applicants are required to complete all of the aforementioned courses prior to starting the program, as well as a second semester of calculus and one semester of linear algebra.

All new PhD students should arrive on campus four to five weeks prior to beginning of the Fall term for mandatory math review.

Application Deadlines

Completed admission applications for U.S. citizens should be submitted no later than two months prior to the Fall term; foreign nationals should apply no less than three months ahead. All application materials are to be submitted via the online application (http://admissions.fsu.edu/apply/); no hard copies of documentation will be accepted by the department. It is recommended that those interested in being considered for a departmental research or teaching assistantship have a completed application on file with the Department of Economics by February 15th, for fall entry into the graduate program.

Departmental Teaching and Research Assistantships

Departmental funding is awarded competitively, not only to provide financial assistance but also to afford outstanding students a structured experience in teaching and research. All applicants are considered for departmental funding and the strongest applicants may be nominated for University fellowships. Students can expect departmental funding to continue for up to four years (although it is awarded on a year-by-year basis), assuming timely progression on degree requirements, success in the academic program, adequate funding allocations to the department, and satisfactory performance of assistantship duties. Graduate assistants with qualifying appointments will receive a salary and tuition waiver.

Master of Science (MS) Degree Programs

Master of Science (MS) in Applied Economics

The Applied Economics MS degree at FSU is designed to be a self-contained program which gives the successful student valuable skills as an applied economist. Graduates with such skills are in demand by both the public and private sectors. This is intended to be a terminal degree and not preparation for entry into a doctoral program. Most full-time students will complete the program in a calendar year (Fall-Summer).

There are six required courses (eighteen semester hours) for the Applied MS degree that must be completed with a minimum GPA of 3.0; two each in microeconomics (ECO 5114 and ECO 5117), macroeconomics (ECO 5206 and ECO 5208), and econometrics (ECO 5420 and ECO 5434).

Students following the project-track of this program complete at least eight hours of graduate-level coursework beyond the required core courses, which typically involves two economics electives (six hours) approved by the Program Director and two semesters of the seminar course ECO 5922, Professional Development for Economists (two hours). Completion of the applied project involves registration and attendance in ECO 5973 during the Summer B and Summer C sessions for three hours each. During this sequence, the student selects, writes, and presents an applied project. The project track requires a minimum of thirty-two semester hours of graduate credit, including the required courses.

Students following the thesis-track of this program complete at least six hours of graduate-level coursework beyond the required core courses, which typically involves two economics electives (six hours) approved by the Program Director and two semesters of the seminar course ECO 5922 taken for zero hours. In addition, the student writes a thesis for which at least six hours of ECO 5971 are granted. The thesis committee consists of a major supervisory professor and two other members of the Economics Department (or, if appropriate, one other department member and one “outside” professor), subject to the approval of the Program Director. An oral defense of the thesis is required (ECO 8976), where all members of the Economics Department are invited to attend. All students must adhere to the rules and deadlines governing thesis submission as detailed by The Graduate School. The thesis-track requires a minimum of thirty semester hours of graduate credit, including the required courses.

Students may substitute graduate courses offered by other departments for the economics electives, provided they can demonstrate the relevance of the coursework to their program of study, and provided they obtain prior approval of the Program Director.

Master of Sciences (MS) in Economics

The Master of Science (MS) in Economics is offered via the “PhD track.” Students interested in this degree must apply to and be admitted at the PhD program level. The thesis and applied project options are not available with this degree.

A student following the traditional MS program will be awarded an MS degree after completing the doctoral core courses in microeconomics (ECO 5115 and ECO 5116), macroeconomics (ECO 5204 and ECO 5207), and econometrics (ECO 5416 and ECO 5423), plus one course in mathematical economics (ECO 5405), and at least twelve additional credit hours of elective courses. The elective courses require prior approval of the Graduate Director. Supervised research (ECO 5914), supervised teaching (ECO 5940), and workshops do not count toward the required elective hours. The six core courses must be completed with a minimum GPA of 3.0. In the event that a student must retake one (or more) of these courses in order to satisfy the core GPA requirements, the department will use the higher of the grades earned in the two attempts when making core GPA calculations.

Doctor of Philosophy (PhD) Program

The PhD in economics is a research degree which requires that the student demonstrate an ability to understand the body of economic knowledge, to communicate that knowledge, and to contribute to it.

The core courses in Economic Theory, for a total twenty-seven hours, consist of two courses in microeconomics (ECO 5115 and ECO 5116), two courses in macroeconomics (ECO 5204 and ECO 5207), two courses in econometrics (ECO 5416 and ECO 5423), one econometrics field course (ECO 5424, ECO 5427, or ECO 5428), one course in mathematical economics (ECO 5405), and one course in the history of economic thought (ECO 5305). Students must show competence by passing core examinations in the areas of macroeconomics and microeconomics. The PhD core examinations are administered in May and August. If a student fails one or both exams, a retake of the failed component is required for the following August. Students are only allowed one retake. A student who elects not to take the exam in May forgoes the opportunity for a retake, and must pass the exam on the first attempt the following August.

PhD students must select both a major and minor field of specialization. In order to satisfy the field requirements, a student must complete at least two courses (per field; total of twelve hours) with a minimum GPA of 3.75 in the major field and 3.5 in the minor field. No single course may count for more than one field. The two specialized fields are to be selected from the following list or, with approval of the Graduate Director, the student may take work in one outside field:

  • Applied econometrics
  • Experimental economics
  • Financial and monetary economics
  • Industrial organization and regulation
  • International economics and development
  • Labor economics
  • Law and economics
  • Population economics
  • Public economics
  • Urban economics

The Department offers two to four workshops (ECO 6938) each semester in which advanced research topics are critically reviewed. Participants in these workshops attend seminar sessions, prepare formal discussion comments, and present ongoing research. Participation in at least one workshop every Fall and Spring semester, graded on an S/U basis and generally taken for zero credit hours, is a requirement of the PhD program.

A doctoral student must complete fifty-four semester hours of graduate coursework, including instruction in fundamental quantitative techniques, and may obtain the traditional master’s degree en route. No more than six of the required fifty-four hours may be directed individual study (ECO 5906 or ECO 5907) or graduate tutorial coursework (ECO 5932). The fifty-four semester hours consists of twenty-seven hours from the Economic Theory core, twelve hours from the major and minor fields, and fifteen hours of electives approved by the Graduate Director. After passing core examinations and successfully defending a dissertation prospectus (ECO 8969), students may be admitted to doctoral candidacy with the approval of the Department Chair.

In consultation with the faculty and graduate student advisor, students are expected to design a program that provides the preparation necessary for the PhD core examinations and for the analysis required in dissertation work. The dissertation entails a minimum of twenty-four hours of credit (ECO 6980), is written under faculty supervision, and must be orally defended (ECO 8985) in accordance with the deadlines and regulations of The Graduate School. University regulations require that all committee members and the student must attend the entire defense in real time, either by being physically present or participating via distance technology. The department abides by University regulations and does not impose any further restrictions.

Joint Law-Economics Degree Program

The Department of Economics and the College of Law offer a program allowing a student to qualify concurrently for the Juris Doctor (JD) and the Master of Science (MS) in Economics. Students must complete eighty semester hours in the College of Law and twenty-four hours in economics. Economics hours must include the six core courses normally required for the Applied MS program, as well as six hours from the applied project (ECO 5973). Students pursuing this joint degree must begin studies in College of Law.

Definition of Prefixes

ECO—Economics

ECP—Economic Problems and Policy

ECS—Economic Systems and Development

Graduate Courses

The department offers some graduate courses that are normally not taken by graduate students pursuing degrees in economics but which are intended mainly for students in other programs in the College of Social Sciences and Public Policy, such as international affairs, or in other colleges of the University. These courses include ECO 5005, 5111, 5205, 5226, 5403, 5413, 5707, 5715, ECP 5536 and 5538. [These courses may NOT be used to meet requirements for a graduate degree in Economics.] Where ECO 2013 and 2023 are listed as prerequisites for those courses, ECO 5005 may be substituted for ECO 2013 and 2023.

ECO 5005. Economic Principles for International Affairs (3). This course serves as an introduction to economics for graduate students in majors other than economics. Covers material in ECO 2013 and ECO 2023 in one semester. Intended for international affairs graduate students and similar.

ECO 5056. Decision Making Under Risk and Uncertainty (3). This course is an introduction to the theory of economic decision-making under risk and uncertainty. Emphasis is placed on developing and applying alternative theories of decision-making to insurance markets, financial markets, and the negotiation of contracts.

ECO 5111. Intermediate Microeconomic Theory (3). Prerequisites: ECO 2013 and ECO 2023. This course examines supply, demand, cost of production theory of the firm, factor price determination, and other microeconomic resource allocation questions.

ECO 5114. Applied Microeconomics I (3). This is a beginning graduate-level course in microeconomic analysis. The course is designed to prepare students for subsequent work in microeconomic analysis and in applied microeconomics courses such as public finance, industrial organization, and labor economics.

ECO 5115. Product Markets and the Theory of the Firm (3). This course examines consumer choice, demand theory, production theory, costs, market supply, theory of the business firm, and allocation under the competitive market structure. Undergraduate price theory is a prerequisite.

ECO 5116. Imperfect Competition, Factor Markets, and Income Distribution (3). Prerequisite: ECO 5115 or instructor permission. This course covers topics such as monopoly, oligopoly monopolistic competition, derived demand and theory of factor markets, general equilibrium analysis, welfare economics, interdependencies, income distribution, and public choice theory.

ECO 5117. Applied Microeconomics II (3). Prerequisite: ECO 5114. This course explores such topics in applied microeconomics as demand estimation, hedonic models, cost functions, cost- benefit analysis, tax incidence, event studies, selection bias, and earnings equations. A student project is required.

ECO 5133. Markets and Auctions (3). This course familiarizes students with relevant topics, literature, and research techniques in the field of experimental economics.

ECO 5134. Applied Market Design (3). Prerequisite: ECO 5114. This course explores the theory and practice of market design. Particular emphasis is placed on understanding how the rules and institutional features of different market-based mechanisms can be engineered to solve resource allocation problems. The course focuses on applications of two-sided matching markets, single-unit and multi-unit auctions, and markets for transferable permits.

ECO 5204. Macroeconomic Theory I (3). This course introduces the basic tools in macroeconomic theory.

ECO 5205. Money and National Income Determination (3). Prerequisites: ECO 2013, ECO 2023, and ECO 3223. This course is based on the premise that the basic model of income determination is built emphasizing the roles of real and monetary sectors of the economy. Results of empirical work are surveyed. A project is required of each graduate student.

ECO 5206. Macroeconomic Theory, Practice, and Policy (3). This course investigates aggregate production functions and productivity, and provides an introduction to dynamic macro systems.

ECO 5207. Macroeconomic Theory II (3). Prerequisite: ECO 5204 or instructor permission. This course explores further macro dynamics, the quantity theory, determinants of the demand for and supply of money, and money models.

ECO 5208. Global Macroeconomics (3). Prerequisite: ECO 5206. This course is a continuation of the first macroeconomics course for master’s students. Though the focus is on macroeconomic applications, macroeconomic theory is expanded to consider the implications of income distributions, wealth distributions, financial market innovations, price markup practices, and global integration for macroeconomics.

ECO 5226. Issues in Money and Banking (3). Prerequisites: ECO 2013 and ECO 2023. This course discusses how the role of monetary policy in various macroeconomic theories is emphasized. Controversy over the effects monetary policy has on employment, inflation, and interest rates is also addressed.

ECO 5281. Financial Economics I (3). This course is intended to provide a comprehensive introduction to the field of financial economics. The class focuses on static and dynamic consumption based on asset pricing models and a few elementary applications. The class is designed to set up the framework for models with production, financial institutions and monetary policy issues, which is the basis for more advanced work.

ECO 5282. Financial Economics II (3). This course focuses on three broad areas: production-based asset pricing theory and corporate finance; financial intermediation; and monetary theory and policy. Particular emphasis is placed on the economic role played by commercial banks in private information economies, and on the effect of Federal Reserve policy on financial markets.

ECO 5305. History of Economic Thought (3). This course covers analysis and critique of economic ideas, beginning with the Greeks. Concentration is upon classical economists.

ECO 5403. Static Optimization in Economics (3). This course examines mathematical methods used for the solution of static optimization problems in economic theory.

ECO 5405. Introduction to Mathematical Economics (3). This course focuses on the use of mathematical economic models, equilibrium analysis, linear algebra, comparative static analysis, optimization problems, and dynamic problems.

ECO 5408. Computational Economics I (3). Prerequisite: ECO 5423. In this course, topics include solutions of linear and nonlinear systems of equations, numerical integration and differentiation, optimization, Monte Carlo and stochastic simulation, finite element and spectral solution methods for ordinary and partial differential equations, dynamic programming and stochastic optimal control, and asymptotic perturbation methods.

ECO 5413. Introduction to Econometrics (3). Prerequisites: ECO 2013; ECO 2023; and STA 2023, STA 2122, or STA 4321; or instructor permission. This course introduces statistical inference, estimation theory, model building, and forecasting methods. Emphasis is on model building and policy analysis. Extensive use is made of PC econometric software. This course is intended for non-Economics majors and does not count toward the requirements of any graduate degree offered by the Department of Economics.

ECO 5416. Econometrics I (3). This course is an introduction to econometric methods focusing on the statistical foundation for estimation and inference in the classical regression model.

ECO 5417. SAS for Economists (3). Prerequisite: One semester of graduate level econometrics or instructor permission. This course uses the SAS programming language to manipulate data and to estimate econometric models. Topics that are covered include: database construction using the output and retain statements; conducting multivariate regressions; and the use of the SAS macro facility.

ECO 5420. Applied Econometrics (3). This course introduces statistical concepts used in econometric thinking, reviews the classical linear regression model, and discusses applications to economic data.

ECO 5423. Econometrics II (3). Prerequisite: ECO 5416 or instructor permission. This course considers extensions of the classical regression model. Topics include nonlinear least squares, instrumental variables estimation, and generalized least squares.

ECO 5424. Econometric Methods for Panel Data (3). Prerequisites: ECO 5416, ECO 5423, and ECO 5427. This course provides students with the tools necessary for working with panel data, in order to evaluate different methods and their applicability to particular estimation problems. Topics are typically not included in econometrics core courses, yet are important in empirical research. Focus is on the analysis of cross-section and panel data, and on the discussion of linear and nonlinear models.

ECO 5427. Limited Dependent Variable Models (3). Prerequisite: ECO 5423. This course introduces graduate students to logit, probit, tobit, multinominal logit, selection, and hazard models.

ECO 5428. Time Series Analysis (3). Prerequisite: ECO 5423. This course explores univariate and multivariate time series methods including: univariate ARIMA, transfer function models, state space models, vector auto-regression models, vector error correction models, spectral analysis, causality tests, and unit root tests. Data analysis and model building are emphasized.

ECO 5434. Analysis of Economic Data (3). This course focuses on methods of analyzing economic data, in addition to teaching students how to accurately read and interpret articles containing economic data. The course includes a look at various statistical analysis software available, applying statistical software to analyze economic data, interpreting the meaning of the statistical output, and presenting the findings in a meaningful manner.

ECO 5453. Advanced Experimental Economics (3). This course provides a PhD level introduction to experimental economics. The first section of the course focuses on how to run an economic experiment. After this, the course studies four major areas of economics that have been changed by experimental economics: (1) decision making under risk and uncertainty, (2) models of fairness and reciprocity, (3) game theoretic models and (4) models of markets. The course stresses student participation, and ends with a presentation of student research projects.

ECO 5505. Public Economics (3). This course examines the principles of taxation and debt, shifting and incidence, public expenditures and redistribution theory.

ECO 5506. Public Goods (3). Pre- or corequisite: Approved course in Experimental Economics. This course explores the theory, empirical evidence, and experimental evidence regarding how human societies provide public goods.

ECO 5533. Public Choice (3). This course focuses on the role of government, public goods and externalities, voting and collective choice, bureaucracy theory, and political structure and economic organization.

ECO 5706. Seminar in International Trade Theory and Policy (3). This course explores the theories of the cause, magnitude, and patterns of real trade among nations, ranging from comparative cost explanations to Heckscher-Ohlin theories and recent approaches. Policy issues regarding contemporary international trade problems, the role of tariffs, and quotas also are covered.

ECO 5707. International Trade (3). Prerequisites: ECO 2013 and ECO 2023. This course focuses on the theory of international trade, the gains from trade, tariffs and other trade restrictions, cartels.

ECO 5715. International Finance (3). Prerequisites: ECO 2013 and ECO 2023. Recommended prerequisites: ECO 3203 and ECO 3223. This course explores topics such as balance of payments; disequilibrium and adjustment; birth, evolution, and demise of the Bretton Woods System; the managed float; international monetary reform; international factor movements, multinational corporations.

ECO 5716. Seminar in the Theory and Policy of International Finance (3). This course examines institutional characteristics of international financing of trade, relations between money flows and real trade, theories of foreign exchange and short-term capital flows, long-term capital flows, alternative exchange rate systems. Contemporary international monetary problems and the role of aid in economic development also are discussed.

ECO 5906r. Directed Individual Study (3). (S/U grade only). May be repeated to a maximum of nine semester hours.

ECO 5907r. Directed Individual Study (3). Prerequisite: Instructor permission. May be repeated to a maximum of nine semester hours.

ECO 5914r. Supervised Research (1–5). (S/U grade only). May be repeated to a maximum of five semester hours.

ECO 5922r. Professional Development for Economists (0–2). Prerequisite: Admission to MS program in economics. This course covers issues of ethics and responsibilities for professional economists. Faculty and visiting economists offer presentations and discussions of the work of professional economists in the public and private sectors. May be repeated to a maximum of three semester hours.

ECO 5932r. Graduate Tutorial in Economics (1–3). (S/U grade only). Prerequisites: Economics graduate standing and instructor permission. This course is an in-depth study of specific topics in economics. Enrollment limited to five students. May be repeated to a maximum of six semester hours.

ECO 5936r. Special Topics (1–3). This course covers special topics of current interest or of benefit from the specialties of visiting faculty. May be repeated in the same semester.

ECO 5940r. Supervised Teaching (1–5). (S/U grade only). May be repeated to a maximum of five semester hours.

ECO 5942. Applied Economics Internship (3). (S/U grade only). This course is intended to facilitate the transition from the academic world to the workplace for students in the project-track Economics MS degree.

ECO 5971r. Thesis (3–6). (S/U grade only). A minimum of six semester hours is required.

ECO 5972. Extended Master’s Paper (3). (S/U grade only).

ECO 5973r. Applied Master’s Project (3). Prerequisites: ECO 5114, ECO 5117, ECO 5206, ECO 5208, ECO 5420, ECO 5434, or instructor permission. As the capstone for the applied master’s degree, this project requires students to use theory, research methods, and analytical procedures learned in the program to research an applied economics question. Findings are presented in both oral and written format. The 3-hour project is taken in both 6-week summer sessions, for a total of six semester hours. May be repeated to a maximum of nine semester hours.

ECO 5973Lr. Economics Analysis: Solving and Communication a Consulting Project (3). Prerequisites: ECO 5114, ECO 5117, ECO 5206, ECO 5208, ECO 5420, and ECO 5434. Corequisite: ECO 5973. This course is a companion course to the Applied Project (ECO 5973) for students in the MS in Applied Economics degree. The course focuses on how to analyze and solve consulting projects. In addition, students discuss how to effectively communicate results to clients. The course also helps students to quickly adapt to the life of an economist in private, state or federal organizations. May be repeated to a maximum of nine semester hours.

ECO 6176. Topics in Behavioral Economics (3). Prerequisites: ECO 5115 and ECO 5116. This course is an overview of behavioral economics using both empirical and theoretical contributions from economics and psychology. The course aims to identify alternative assumptions, in line with observed choice patterns, for use in mainstream economic theory.

ECO 6209. Topics in Macroeconomics (3). This course surveys recent developments in macroeconomic theory with an emphasis on developing research skills in an applied context. Topics include endogenous growth, economic convergence and technological diffusion across countries, money and growth, and modern business cycle theory.

ECO 6216. Monetary Theory and Policy (3). Prerequisite: ECO 5204. This course builds the skills needed to perform research in monetary economics and to survey recent literature in the area. The role of the money market in the macroeconomy and the policy tools, policy objectives, and history of the Federal Reserve are also emphasized.

ECO 6296. Open Economy Macroeconomics (3). Prerequisites: ECO 5116, ECO 5207, and ECO 5423. This is an advanced PhD course on open economy macroeconomics and finance. Canonical models of open-economy are explored, including the real business cycle model and sticky price models.

ECO 6936. Topics in Microeconomics (3). Prerequisites: ECO 5115, ECO 5116, or instructor permission. This course discusses competitive general equilibrium (theory and applications); fundamental results of welfare economics; market failure (externalities and public goods); game and decision theory; the economics of uncertainty (theory and applications).

ECO 6938r. Doctoral Workshop (0–3). (S/U grade only). This course consists of informal seminars and colloquia for critical review of research work in progress and advanced research topics, presented by doctoral students, faculty, and visitors. Registration for credit requires departmental approval. May be repeated without limit.

ECO 6939r. Teaching Workshop (0–3). (S/U grade only). This course consists of informal seminars and colloquia on topics and issues related to teaching economics at the college level, presented by doctoral students, faculty, and visitors. May be repeated to a maximum of six semester hours.

ECO 6960r. Preliminary Examination Preparation (0–12). (S/U grade only). Prerequisites: ECO 5115, ECO 5116, ECO 5204, and ECO 5207. This course is open to students who have completed the core PhD theory courses and are engaged in intensive study for their PhD preliminary examinations.

ECO 6980r. Dissertation (1–24). (S/U grade only).

ECO 8966r. Master’s Comprehensive Exam (0). (P/F grade only.)

ECO 8969r. Preliminary Doctoral Examination (0). (P/F grade only.)

ECO 8976r. Master’s Thesis Defense (0). (P/F grade only.)

ECO 8985r. Dissertation Defense (0). (P/F grade only.)

ECP 5115. Seminar in the Economics of Population (3). This course examines theoretical and empirical treatment of the determinants of demographic behavior in less and more developed nations, the economic consequences of the behavior, and implications of both sets of findings for population and economics policy.

ECP 5117. Mathematical Demography (3). This course is an introduction to the central analytical techniques of modern population study. Analysis including stable population theory and indirect estimation, continuous and discrete time formulations are considered; generalizations of the standard model with fixed mortality and fertility are also examined. Parametric models of fertility, mortality, stable populations, and the curve-fitting techniques underlying these approaches are reviewed.

ECP 5118. Population Data (3). This course is an introduction to fundamental demographic data, measures, and methods. This required first-semester course for Master’s students in Demography introduces basic vocabulary, standard methodology, and standard data repositories used by applied and academic demographers. Lectures and problem sets require students to practice on realistic applications using current demographic data.

ECP 5205. Labor Markets (3). This course covers the following primary topics: the determinants of labor demand and supply, wage differentials, human capital, the operation of labor markets, labor mobility, and the dynamics of labor markets.

ECP 5405. Industrial Organization (3). Prerequisites: ECO 5115 and ECO 5116. This course focuses on the effect of industrial structure and the conduct of firms upon the economic performance and efficiency of the economy.

ECP 5415. Social Control of Business (3). This course focuses on the role of the state in establishing the framework of the market economy; including enforced competition, regulated industries, and nationalized industries.

ECP 5456. Law and Economics (3). This course immerses students in the literature on “law and economics” including the seminal contributions to this field. The differences between the most important “schools” of thought (approaches to the analysis of law and economics) are examined in the process of an exploration of the economic analysis of property law, contract law, tort law, and criminal law. The impact of economic incentives and objectives is explored, as well as objectives on the procedures of each on economic behavior. Students also engage in research by applying an economic approach to study and write about an issue in law or legal processes.

ECP 5457. Economics of Corruption (3). Prerequisite: Graduate standing. This course examines the measurement of corruption; its economic costs; its causes, based on theory and on macro-based, micro-based, and experimental studies; and the effectiveness of different anti-corruption interventions. This course also defines corruption, studies how to measure it, and asks why some countries are systematically corrupt while others have escaped the corruption trap and why, facing the same incentives, some individuals are corrupt and others are not.

ECP 5536. Economics of Health (3). Prerequisites: ECO 2013 and ECO 2023; or instructor permission. This course is an introduction to and survey of the economics of health. Intended primarily for graduate students in the health disciplines and in similar disciplines other than economics.

ECP 5537. Applied Health Economics (3). Prerequisite: Graduate standing in Economics or instructor permission. This course is designed to teach students to work with large survey data sets, especially panel data. Upon completion of the course, students have an extensive familiarity with Stata. They should be able to display data visually, tabulate information, and run multivariate panel regressions.

ECP 5538. Health Policy Statistics (3). Prerequisite: Graduate standing. This course introduces students to quantitative research methods and analytical techniques. Upon completion of the course, students should be able to read empirical articles and conduct statistical analyses.

ECP 5606. Urban and Regional Economics (3). Prerequisite: ECO 2023. This course introduces students to the evolution of cities, along with issues with which cities and regions must deal (e.g., sprawl, pollution, congestion, transportation, poverty, housing and neighborhood development, public finance) to be examined from an economic perspective. The content lays the foundation for an analysis of policy alternatives to deal with these issues.

ECP 6105. Personnel Economics (3). This course applies the tools of modern economics (e.g., game theory, econometrics, lab and field experiments) to the traditional topics of human resource management. Topics cover the design of optimal incentive mechanisms, but also norms, teamwork, and peer relationships at the workplace.

ECP 6209. Labor Policy and Analysis (3). This course examines the theoretical and empirical research literature related to labor policy. In particular, students examine theoretical and empirical issues related to the wage and employment effects.

ECS 5005. Seminar in Comparative Economics Systems (3). This course examines the utilization of basic economic tools and concepts to analyze efficiency and optimality considerations of various economic systems. Both theoretical models of economic systems and actual case studies are utilized.

ECS 5015. Economic Development: Theory and Problems (3). This course discusses the overall determinants of pace and structure of development, and specific issues, e.g., industrialization, human resources, foreign sector, income distribution, rural development, technology, etc.

ECS 5335. Economies in Transition (3). Prerequisites: ECO 2013 and ECO 2023. The analytical focus of this course is concentrated on the most important features of transition from centrally planned command economies toward market economic systems.

ECONOMIC PROBLEMS AND POLICY:

see Economics

ECONOMIC SYSTEMS AND DEVELOPMENT:

see Economics; General Bulletin: Latin American and Caribbean Studies

EDUCATIONAL ADMINISTRATION/LEADERSHIP:

see Educational Leadership and Policy Studies