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CAS EC 501: Microeconomic Theory
Undergraduate Prerequisites: CASEC201 or equivalent, and either CASEC505 or CASMA225, or consent of instructor.
Covers the basic concepts and techniques of microeconomic theory. Topics include consumer demand and its foundation on preferences and budget constraints, economics of uncertainty and imperfect information, production theory, applied competitive equilibrium analysis, elementary game theory, and imperfect competition.
CAS EC 502: Macroeconomic Theory
Undergraduate Prerequisites: CAS EC 202 or equivalent, or consent of instructor.
Graduate Prerequisites: EC 202 or equivalent, or consent of instructor.
Brief overview of macroeconomics, leading to successive focus on long-run economic growth and inflation, and on short-run fluctuations with emphasis on the role of fiscal and monetary policy. Readings from research journals; introduction to analysis of macroeconomic data.
CAS EC 505: Elementary Mathematical Economics
Undergraduate Prerequisites: CAS MA 121; or consent of instructor.
Graduate Prerequisites: CAS MA 121; or consent of instructor.
Stresses the formulation of economic problems in mathematical terms. Topics covered include partial derivation, total differentials, constrained maximization, matrix algebra, dynamic analysis, and discounting. Cannot be taken for credit by concentrators in Mathematics or Economics and Mathematics.
CAS EC 507: Statistics for Economists
Undergraduate Prerequisites: CAS EC 203 or CAS EC 303; or equivalent and elementary calculus.
Graduate Prerequisites: CAS EC 203 or CAS EC 303; Elementary Calculus.
Covers descriptive statistics, measures of association, dispersion, frequency distribution, probability, sampling distributions, estimation, and hypothesis tests. Introduces multivariate regression analysis, with emphasis on specification, testing, and interpretation of econometric models. Required use of statistical software packages to generate results.
CAS EC 508: Econometrics
Undergraduate Prerequisites: CAS EC 507; and for undergraduate students only, (CASEC204 or CASEC304).
Graduate Prerequisites: CAS EC 507.
Provides standard econometric tools for performing and evaluating empirical economic research in academic or business settings. Introduces basic concepts: quantification of uncertainty using confidence intervals, inference of causal relationships in regressions, and prediction based on regression estimates. Use of statistical software.
CAS EC 509: Topics in Econometrics with Applications
Undergraduate Prerequisites: CAS EC 507 and CAS EC 508; or consent of instructor.
Introduction to standard time series techniques and some advanced cross-sectional techniques in econometrics. Emphasis on applications in economics, political science, finance, marketing, and other areas of social science and business.
CAS EC 513: Game Theory
Undergraduate Prerequisites: CAS MA 121 or CAS MA 122 or CAS MA 123 or CAS MA 124 or CAS MA 127 or CAS MA 129; or instructor's permission.
Models of decision-making in which the choices of different individuals interact: basic equilibrium notions in normal form games, including signaling games and repeated games. Applications include auctions, foreign policy, takeover bids, entry deterrence, cooperation and conflict, financial markets, and public goods.
CAS EC 515: Economics of Information
Undergraduate Prerequisites: CAS EC 201; and one of CAS MA 121, 122, 123, 124, 127 or 129, or consent of instructor. Recommended: CAS EC 403.
Introduction to the field of information economics and its applications. Covers a wide range of situations in which players have access to different private information and this private information differently affects their incentives and strategic behavior.
CAS EC 517: Economic Models of Social Learning and Coordination
Undergraduate Prerequisites: one calculus course numbered CAS MA121 or higher, CAS EC201 or EC501,and EC202 or EC502 (EC515 recommended); or consent of instructor.
Economic models analyzing the relationship between rational economic decisions and flows of information, with diverse micro- and macro- economic applications.
CAS EC 521: Development Policy
Undergraduate Prerequisites: CAS EC 201 and CAS EC 202.
Graduate Prerequisites: CAS EC 303 and CAS EC 304.
Analysis of the problems of economic development, with emphasis on economic growth, macroeconomic stability, income distribution, and structural change. In a case study using historical data, students analyze a current problem and policy measures that might address it.
CAS EC 522: Development Strategy
Undergraduate Prerequisites: one year of graduate study.
Case study approach to questions of employment, trade, macro-policy, and development strategy; including relationship between economic growth, economic policy, and income distribution.
CAS EC 531: Market Structure and Industrial Organization
Undergraduate Prerequisites: CAS MA 121; or a more advanced calculus course) and CASEC201 (or a more advanced microeconomics course), or consent of instructor.
Focuses on the main interactions between firms and consumers under different market conditions and market structures. Among the issues discussed: profit maximization, monopoly power, price discrimination, bundling, oligopoly and imperfect competition, entry deterrence, quality choice, and advertising.
CAS EC 536: Economics of Corporate Organization
Economic analysis of the architecture and performance of firms and other organizations. Topics include firm boundaries, the allocation of ownership and control, integration and outsourcing, corporate governance, performance evaluation, and compensation. May not be taken for credit in addition to CAS EC 436.
CAS EC 541: Topics in Monetary Theory and Macroeconomics
Undergraduate Prerequisites: consent of instructor.
Combines monetary economics, macroeconomics, and finance. Focus on the interactions among money, interest rate, and consumption and on their consequences for monetary policy and asset prices (bonds, stocks, and currencies).
CAS EC 542: Money and Financial Intermediation
Undergraduate Prerequisites: CAS EC 341 or CAS EC 342; or consent of instructor.
Graduate Prerequisites: CAS EC 341 or CAS EC 342; or consent of instructor.
The role of money and financial institutions in the economy. The money supply process, models of money demand, financial markets, interest rates and asset prices, and the transmission of monetary policy. Financial intermediary management and regulation; derivatives and risk management.
CAS EC 544: Introduction to Economic Dynamics
Undergraduate Prerequisites: CASEC201 or EC501, or equivalent; and CASEC202 or EC502, or equivalent; and CASMA121 or MA123 or MA127 or EC505, or equivalent; and CASEC507, or equivalent.
An introduction to the theory and applications of dynamic optimization and equilibrium analysis in discrete time. Focuses on numerical methods for solving many economic problems. Topics include difference equations, dynamic programming, and business cycle models.
CAS EC 545: Financial Economics
Undergraduate Prerequisites: CAS EC 201 and CAS EC 202; and (CASEC203 or CASEC303) and one approved Calculus Course (CASMA121, 122, 123, 124, 127, or 129) or consent of instructor.
Provides a sound understanding of the economic principles of finance, including the financial decisions and capital structure of a corporation, and its relation to capital markets. Models of capital asset pricing and investors' behavior are also discussed.
CAS EC 551: Economics of Labor Markets
Undergraduate Prerequisites: CAS EC 201 and CAS EC 202; or consent of instructor.
Economic behavior of labor markets and labor market institutions in the United States. Wage determination, labor allocation, discrimination, economics of trade unions, and industrial relations. Implications of labor market behaviors for public policy.
CAS EC 561: Public Economics I
Undergraduate Prerequisites: CAS EC 201; or consent of instructor.
Applies microeconomic theory to public-policy decisions worldwide, using a methodology of applied welfare economics or cost-benefit analysis. Applications are to project evaluation, taxation, regulation, shadow pricing, privatization, policy impact analysis, and valuation of external effects such as pollution and congestion.
CAS EC 565: Economic Institutions in Historical Perspective
Undergraduate Prerequisites: CAS EC 101.
Graduate Prerequisites: CAS EC 101.
Historical development and role of institutions underlying market economies. Topics include contract enforcement and trading institutions, financial institutions, property rights in land, environmental resources such as water management and fisheries, economic infrastructure, regulation of labor, and capital markets.