Economics

401 Engineering 2
(831) 459-2743
http://econ.ucsc.edu

Lower-Division Courses

1. Introductory Microeconomics: Resource Allocation and Market Structure. F,W,S
For all interested students as well as prospective economics majors. Examines how markets allocate resources in different kinds of economies. Topics include competitive markets, monopoly, financial markets, income distribution, market failures, the environment, and the role of government. (General Education Code(s): IS.) The Staff

2. Introductory Macroeconomics: Aggregate Economic Activity. F,W,S
For all interested students and prospective economics majors. Examines how the overall level of national economic activity is determined, including output, employment, and inflation. Explores the roles of monetary and fiscal policies in stabilizing the economy and promoting growth, with a focus on contemporary policy debates. (General Education Code(s): IS.) The Staff

10A. Economics of Accounting. F,W
Introduction to accounting principles and practice; preparation and analysis of financial statements; study of internal control procedures. Courses 10A and 10B satisfy the Accounting 1A-B requirement at UC Berkeley. The Staff

10B. Economics of Accounting. W,S
Managerial accounting emphasizing analysis and control; accounting for corporations; introduction to taxation, budgeting, and equity/debt financing; management decision making. Courses 10A and 10B satisfy the Accounting 1A-B requirement at UC Berkeley. Prerequisite(s): course 10A. The Staff

11A. Mathematical Methods for Economists. F,W,S
An introduction to mathematical tools and reasoning, with applications to economics. Topics are drawn from precalculus and calculus and include functions and graphs, techniques of differentiation, relative extrema, logarithms and exponents, and differentials. Students who have already taken Mathematics 11A and 19A should not take this course. (Also offered as Applied Math and Statistics 11A. Students cannot receive credit for both courses.) Prerequisite(s): score of 31 or higher on Math Placement Exam. Students who do not place into precalculus should enroll in Mathematics 2. (General Education Code(s): IN, Q.) The Staff

11B. Mathematical Methods for Economists. F,W,S
Mathematical tools and reasoning, with applications to economics. Topics are drawn from integral calculus, multivariable calculus, and linear algebra and include definite integrals, partial derivatives, Lagrange multipliers, matrix algebra, and solving systems of linear equations. (Also offered as Applied Math and Statistics 11B. Students cannot receive credit for both courses.) Prerequisite(s): course 11A or Applied Mathematics and Statistics 11A. (General Education Code(s): IN, Q.) The Staff

42. Student-Directed Seminar. F,W,S
Seminars taught by upper-division students under faculty supervision. (See course 192.) The Staff

80A. The Theory, Hope, and Crisis of Capitalism. S
Assessment of modern-day capitalism from the three major economic paradigms-liberal, conservative, radical. Theories of Smith, Marx, and Keynes are explored in contemporary writing, with focus on the U.S. from WW II to present. Students cannot receive credit for this course and course 189. (General Education Code(s): T3-Social Sciences.) D. Kaun

80G. Money and the Arts: Two All-Consuming Passions. *
Analysis of the performing arts: a commodity providing a rich and varied source of satisfaction, an occupation for thousands of talented and creative individuals, and an activity whose funding (public versus private) is the source of significant controversy. Students cannot receive credit for this course and course 137. (General Education Code(s): T3-Social Sciences.) D. Kaun

80H. Wall Street and the Money Game. S
Provides a demystifying introduction to financial markets. Examines the theory of stock market investment, the workings of the international money market, the implications of corporate takeovers, and the regulation of the economy by the Federal Reserve Board. (General Education Code(s): T3-Social Sciences.) The Staff

80J. Value and Support of the Arts: Challenges and Opportunities in American Society. F
Considers the value of the arts in an era of increasing budgetary duress, along with focus on specific funding concerns arising in such an environment. Students cannot receive credit for this course and course 185. (General Education Code(s): T5-Humanities and Arts or Social Sciences.) D. Kaun

93. Field Study. F,W,S
Supervised fieldwork experience, off campus, in an area connected with economics or business. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

93F. Field Study (2 credits). F,W,S
Supervised off-campus fieldwork experience in an area connected with economics or business. Prerequisite(s): permission of instructor; students submit petition to sponsoring agency. The Staff

99. Tutorial. F,W,S
May be repeated for credit. The Staff

Upper-Division Courses

100A. Intermediate Microeconomics. F,W,S
Covers major theoretical issues arising in the study of resource allocation, the function of markets, consumer behavior, and the determination of price, output, and profits in competitive, monopolistic, and oligopolistic market structures. Also considers issues of welfare and public policy. Students cannot receive credit for this course and course 100M. Prerequisite(s): courses 1, 2 and 11A or Applied Mathematics and Statistics 11A or Mathematics 11A or 19A; Course 11B is strongly recommended. The Staff

100B. Intermediate Macroeconomics. F,W,S
Covers major theoretical issues arising in the study of income, employment, interest rates, and the price level. Examines the role of monetary and fiscal policy in economic stabilization. Also considers these issues as they relate to the global economy. Prerequisite(s): courses 1, 2, and 11A or Applied Mathematics and Statistics 11A or Mathematics 11A or 19A. Course 100A is strongly recommended as preparation. The Staff

100M. Intermediate Microeconomics, Math Intensive. W
Mathematically sophisticated version of course 100A. Provides analytically rigorous treatment of the subject using a calculus-intensive presentation of microeconomic theory. For specific topics, see course 100A. Students cannot receive credit for this course and course 100A. Prerequisite(s): courses 1, 2, and 11A or Mathematics 11A or 19A or Applied Mathematics and Statistics 11A. The Staff

100N. Intermediate Macroeconomics, Math Intensive. S
Provides rigorous, mathematical-intensive treatment of topics covered in course 100B. Core is devoted to model-based analysis of questions in macroeconomics. Use of mathematical tools allows study of advanced topics and data-intensive applications. See course 100B for specific topics. Prerequisite(s): courses 1, 2, and 11A or Engineering 11A or Mathematics 11A or 19A. The Staff

101. Managerial Economics. F,W
Analysis of the theory and practice of decision making in business firms, applying the concepts and techniques of microeconomics. Topics may include pricing schemes, non-price competition, internal organization of firms, incentive contracts, asymmetric information, and game theory. Case studies are used to illustrate some topics. Prerequisite(s): courses 100A or 100M, and 113. The Staff

102. Forecasting. *
Theory and analysis of long-run and short-run forecasts of economic activity. Emphasis is on empirical applications. Applications of forecasting techniques in organizational settings. Prerequisite(s): courses 100B and 113. The Staff

104. Is There Truth in Numbers: The Role of Statistics in Economics. S
Applies the techniques of econometrics and experimental economics to the understanding of economics. A "hands-on" course where real economic data is used in an interactive way so that students develop the art of empirical analysis. Prerequisite(s): courses 100A, 100B, and 113. The Staff

105. Topics in Macroeconomic Theory. *
A seminar in advanced macroeconomics focusing on a selection of theoretical issues. Emphasis is on detailed modeling and analysis of macroeconomic processes. Prerequisite(s): course 100B and 113. The Staff

106. Evolutionary Thought in the Social Sciences. *
Emphasizes class discussion and term papers for social science, philosophy, and biology majors. Covers the development and recent trends of evolutionary thought in biology and social sciences including social Darwinism, sociobiology, evolutionary psychology, and evolutionary game theory. Prerequisite(s): satisfaction of the Entry Level Writing and Composition requirements. (General Education Code(s): W.) D. Friedman

107. Economic Justice. *
Theories of justice, equity, and rights in economics and their applications to such issues as wages, taxation, property rights, welfare programs, and globalization. Students get extensive practice in writing persuasive, argumentative essays. Prerequisite(s): course 1, satisfaction of the Entry Level Writing and Composition requirements. (General Education Code(s): W.) J. Isbister

108. Business and Society. F
Examine how public policies and social forces affect business, how managers influence these forces; analyze social responsibility and ethical behavior of individuals, business and government regulation, environmental protection, employee-employer relations. The Staff

109. Business Ethics. W
Critical examination of ethical principals, theories, and their application to business, nonprofit, and public organizations; exploration of the process of ethical decision making and ethical problems facing managers, including corporate social responsibility, work place democracy, consumer safety, environmental protection and international business conduct. Prerequisite(s): course 1.
The Staff

110. Managerial Cost Accounting and Control. S
Focuses on how cost data are used by managers in the planning and control of both private- and public-sector organizations. Specific topics include organization of the management and control function, use of cost data for the pricing of goods and services, the effect of cost systems on management performance, and capital budgeting. Prerequisite(s): course 10B. The Staff

111A. Intermediate Accounting I. F
Principles, control, and theory of accounting for assets; accounting as an information system; measurement and determination of income. Projects involving spreadsheet software required. Prerequisite(s): course 10B. R. Shepherd

111B. Intermediate Accounting II. W
Principles, control, and theory of accounting for liabilities and equities; preparation and analysis of cash flow statements and earnings per share computation. Projects involving spreadsheet software required. Prerequisite(s): course 10B. R. Shepherd

113. Introduction to Econometrics. F,W,S
Practical methods for organizing and analyzing economic data, testing economic hypotheses, and measuring economic relationships. Regression analysis is the main empirical method, and basic statistical and probability theory is included. Students gain hands-on computer experience with an econometric software package. Students cannot receive credit for this course and Engineering 113. Prerequisite(s): courses 1, 2, and either course 11B or Mathematics 22. Courses 100A or 100B strongly recommended as preparation. (General Education Code(s): Q.) The Staff

114. Advanced Quantitative Methods. *
Application of statistical methods to estimating and testing economic relationships, i.e., econometric techniques. Topics include the effects of misspecification, choice of functional form, serial correlation, heteroscedasticity, limited dependent variables, and simultaneous equations. Includes discussion of existing empirical work and econometric projects by students. Prerequisite(s): courses 100A and 113. The Staff

115. Introduction to Management Sciences. S
The scientific study of management decision making. Topics include linear, integer, and non-linear programming. Special emphasis on a wide variety of practical applications, including production scheduling, optimal transportation assignments, and optimal inventory policy. Prerequisite(s): course 100A. The Staff

117. Tax Factors of Business and Investment. W
Focuses on various tax subjects providing a strong foundation in tax concepts and preparation for work in either public or corporate accounting. Topics include historical perspective of the U.S. tax system, introduction to estate and gift taxes, employment and self-employment taxes, tax concepts and laws, business expenses, capital recovery, tax credits, capital gains and losses, capital investments, and corporate operations. Prerequisite(s): course 10B. T. Moschetti

118. Fraud Examination. F
Covers the principles and methodology of fraud detection and deterrence. Includes topics such as skimming, cash larceny, check tampering, register disbursement schemes, billing schemes, payroll and expense reimbursement schemes, non-cash misappropriations, corruption, accounting principles and fraud, fraudulent financial statements, and interviewing witnesses. Prerequisite(s): course 10B. D. Gusarson

119. Advanced Accounting. S
Accounting for business organizations; partnerships; government and non-profit organization funds; branches, consolidations, and installment sales. Projects involving spreadsheet software required. Prerequisite(s): courses 111A and 111B. The Staff

120. Economic Development. F,S
A comparative approach to the study of the economic development of low-income countries. Various obstacles to growth are identified, and different types of solutions are analyzed. Prerequisite(s): courses 1 and 2. (General Education Code(s): E.) The Staff

125. Economic History of the U.S. W
The development of the American economy from colonial times to the present, with emphasis on the interaction between institutional structure and economic development. Topics include the economics of slavery, the rise of big business, and the causes of the Great Depression. Prerequisite(s): courses 1 and 2. Related course work in history also helpful. B. Elbaum

126. Why Economies Succeed or Fail: Lessons from Western and Japanese History. F
Examines the emergence of capitalism and the world's first industrial revolution in Britain, continental Europe industrialization, Soviet economic growth and collapse, and the Japanese economic miracle. Asks about the historical sources of long-run economic development, stagnation, and decline. Draws lessons for current debates over free market versus more interventionist policies, economic reform in the former Communist nations, and economic rivalry between the U.S. and Japan. Prerequisite(s): courses 1 and 2. Related course work in history also helpful. B. Elbaum

128. Poverty and Public Policy. F
Studies the causes, consequences, and governmental response to urban poverty in the U.S. Topics include how public policy, the macroeconomy, race, gender, discrimination, marriage, fertility, child support, and crime affect and are affected by urban poverty. Emphasizes class discussion and research. (Also offered as Legal Studies 128. Students cannot receive credit for both courses.) Prerequisite(s): satisfaction of Entry Level Writing and Composition requirement; courses 100A or 100M; and course 113. Enrollment restricted to economics, business management economics, global economics, legal studies, or economics combined majors. Enrollment limited to 35. (General Education Code(s): W, E.) The Staff

130. Money and Banking. S
The institutional structure of central banking and of bank and nonbank financial intermediation in the U.S.; theoretical and empirical investigations of the role of monetary policy in macroeconomic stabilization and economic growth. Prerequisite(s): courses 100B and 113. The Staff

131. International Financial Markets. W
International financial management analyzes the key financial markets and instruments that facilitate trade and investment activity on a global scale. Inquiry spans two areas: (1) economic determinants of prices in international financial markets; and (2) decisions facing private individuals and enterprises, with topics including capital financing, investment, and risk management. Prerequisite(s): courses 100A and 100B. The Staff

133. Security Markets and Financial Institutions. W,S
An examination of all major financial markets: equities, bonds, options, forwards, and futures. Uses modern financial theory, including asset pricing models such as CAPM and APT. Prerequisite(s): courses 100A or 100M, and 113. The Staff

135. Corporate Finance. F,S
An analysis of financial policies of business enterprises. Topics include cash flow analysis, stock and bond valuation, asset pricing models, capital budgeting, financial market institutions, and financial planning. Prerequisite(s): courses 10A, 100A or 100M, and 113. The Staff

136. Business Strategy. F,W
The strategic management process, techniques for analyzing single-business and diversified companies, implementing strategy, organization, business planning, financial strategy, competitive analysis, entrepreneurial skills. Prerequisite(s): courses 10A and either 100A or 100M. The Staff

136L. Laboratory Business Strategy (2 credits). F,W
Laboratory sequence discussing business simulation game associated with course 136. One three-hour session in microcomputer lab. Prerequisite(s): concurrent enrollment in course 136. The Staff

137. Performing Arts in the Public and Private Economy. *
Analysis of the performing arts: a commodity satisfying a rich and varied source of satisfaction, an occupation for thousands of talented and creative individuals, and an activity whose funding (public versus private) is the source of significant controversy. Economics 1 is strongly recommended as a preparation. Students cannot receive credit for this course and course 80G. D. Kaun

138. The Economics and Management of Technology and Innovation. F
Examines the analytics of issues in technology and innovation, including cooperation in research and development (R&D), standardization and compatibility, patents and intellectual property rights, and strategic management, using economic models and firm case studies. Prerequisite(s): course 100A or 100M, or permission of instructor. The Staff

139A. The Economics of Electronic Commerce. S
An analysis of the broad spectrum of issues affecting commercial uses of the Internet and the next-generation information infrastructure. Uses economics to examine market structure, pricing quality, intellectual property rights, security, electronic payments and currencies, and public policy implications. Prerequisite(s): course 100A or 100M, or permission of instructor. N. Singh

139B. E-Commerce Strategy. *
Introduction and review of economic principles for e-commerce. Overview of trends in e-commerce. Online retailing of physical products; digital products; financial services; housing and related markets. Online business-to-business transactions. Internet infrastructure industry. Government regulation of e-commerce and business strategy responses. Prerequisite(s): course 139A. N. Singh

140. International Trade. F,S
The theory of international production and trade. The effects of tariffs and quantitative trade restrictions; the nature of economic integration; multinational firms; effects of trade and protection on economic stability and welfare. Prerequisite(s): course 100A or 100M. The Staff

141. International Finance. S
Topics include national accounting, balance of payments theories, parity conditions in international finance, exchange rate determination models, forward-looking financial instruments, international monetary systems, country interdependence and exchange rate regimes, international monetary integration, and Eurocurrency market. Prerequisite(s): course 100B. The Staff

142. Advanced Topics in International Economics. S
Selected issues in contemporary international economics: theory, empirical evidence, and public policy. Seminar emphasizing discussion and individual research. Prerequisite(s): satisfaction of the Entry Level Writing and Composition requirements, courses 100A or 100M, and 100B; course 113 strongly recommended. (General Education Code(s): W.) The Staff

148. Latin American Economies. W
This course is designed to familiarize students with the economic and business environment in Latin America. Prerequisite(s): courses 1 and 2. The Staff

149. The Economies of East and Southeast Asia. S
Examines the pattern of international trade, investment, and industrial structure in Asia. Examines competing explanations of rapid growth of Japan, Korea, and Taiwan; presents an overview of economic developments in China, Hong Kong, and Taiwan. Concludes with an analysis of high technology trade and multinationals in Asia in 2000 and beyond. Prerequisite(s): courses 1 and 2. The Staff

150. Public Finance. F
Economics of taxation, including incidence, equity issues, efficiency, and supply side effects. Close attention to taxes in the U.S. system and tax-reform issues. Prerequisite(s): course 100A or 100M, and course 100B. The Staff

152. Setting Domestic Priorities. *
Analysis of the economics and political economy of a number of contemporary policy issues facing the U.S.: immigration, affirmative action programs, health care reform, welfare reform, income inequality, education and training, entitlement spending, taxes, and government budgets. Prerequisite(s): course 100A. Course 100B strongly recommended as preparation. The Staff

153. Cost-Benefit Analysis. W
Study of techniques used in evaluating expenditures in the public sector, including the identification and measurement of benefits and costs and a survey of welfare-theory concepts underlying the analysis. A substantial part of the course is assigned to specific case studies. Prerequisite(s): courses 100A and 100B. The Staff

156. Health Care and Medical Economics. *
Health economics theory and review of studies of the health industry, including current topics. Focuses on the structure of the U.S. health care system, including analysis of health policy issues. Relationship to models of perfect competition and efforts at reform. Prerequisite(s): courses 100A and 113. C. Dobkin

157. Economics of Aging. S
Explores economic issues of aging, emphasizing the interconnectedness of concerns over the entire life course but focusing especially on old age. Covers theories of exchange, cumulative advantage/disadvantage, feminization of poverty, political economy of aging, and the social construction of dependency. Prerequisite(s): course 100A or consent of instructor. The Staff

160A. Industrial Organization. *
The structure and conduct of American industry with strong emphasis on the role of government, regulation, anti-trust, etc. The evolution of present-day industrial structure. The problems of overall concentration of industry and of monopoly power of firms. Pricing, output decisions, profits, and waste. Approaches include case study, theory, and statistics. (Also offered as Legal Studies 160. Students cannot receive credit for both courses.) Prerequisite(s): course 100A. The Staff

160B. Government and Industry. *
The influence of government regulation on industry and the allocation of resources is rigorously examined using theory and statistics. Areas of regulation include transportation and power, pollution and congestion, rent control, and liability insurance regulation. Both optimal and actual regulation are examined from the point of view of effectiveness, efficiency, social welfare, and re-distribution. Prerequisite(s): course 100A. The Staff

161. Marketing. W,S
The evolution of markets and marketing; market structure; marketing cost and efficiency; public and private regulation; the development of marketing programs including decisions involving products, price, promotional distribution. Prerequisite(s): course 100A or 100M.
The Staff

162. Legal Environment of Business. F
A study of law and the legal process, emphasizing the nature and function of law within the U.S. federal system. Attention is given to the legal problems pertaining to contracts and related topics, business association, and the impact of law on business enterprise. (Also offered as Legal Studies 162. Students cannot receive credit for both courses.) Prerequisite(s): course 100A or 100M. R. Bosso

164. Economics and the Telecommunications Industry. W
Covers the economics of the telecommunications industry including telephone, cellular telephone, and data communications. Particular emphasis on the Internet, satellite, paging, cable television, radio and television broadcasting. Examines the industry structure and implications of moving from a regulated environment to competition. Topics examined from a competitive strategic standpoint as well as public policy perspective. Prerequisite(s): courses 100A and 113. The Staff

165. Economics as an Experimental Science. F
The design, execution, and analysis of laboratory experiments in economics. Students study experimental methodology, critically survey the published literature, and design an experiment. Literature includes lab studies of investigations in auctions, markets, social choice theory, and game theory. Prerequisite(s): satisfaction of the Entry Level Writing and Composition requirements; course 100A or 100M. Enrollment limited to 20. (General Education Code(s): W.) D. Friedman

169. Economic Analysis of the Law. W
The application of the theories and methods of neoclassical economics to the central institutions of the legal system, including the common law doctrines of negligence, contract, and property; bankruptcy and corporate law; and civil, criminal, and administrative procedure. (Also offered as Legal Studies 169. Students cannot receive credit for both courses.) Prerequisite(s): course 100A or permission of instructor. D. Wittman

170. Environmental Economics. S
Economic analysis of environmental issues. Environmental pollution and deterioration as social costs. Economic policy and institutions for environmental control. Influences of technology, economic growth, and population growth on environmental quality. Prerequisite(s): courses 100A and 113. The Staff

171. Natural Resource Economics. W
The application of economic analysis to the use of renewable and nonrenewable natural resources. Efficiency and distributional aspects of natural resource scarcity. Measurement of the benefits and costs. Optimal extraction or use policies. Common property and externalities. Government policies. Prerequisite(s): course 100A. The Staff

175. Energy Economics. *
Applications of micro, welfare, and international economic theory and methodology to the energy field. Questions considered include optimal allocation of natural resources; pricing and investment; regulations and taxes; import and export control; redistributional policies. Prerequisite(s): course 100A.The Staff

180. Labor Economics. *
A study of the changing nature and composition of the U.S. labor force. Topics include the demand for and supply of labor; wage determination; the role and impact of unions in the labor market; racial, ethnic, and gender differences in job and income opportunities and the role of discrimination in explaining these differences; and the theory of human capital, all considered from the traditional neoclassical as well as institutional and radical perspectives. Prerequisite(s): courses 1 and 2; courses 100A and 113 are strongly recommended as preparation. The Staff

181. Economics of Real Estate. *
The economics of real estate, including development, financing, construction and land costs, zoning, land use, externalities, and planning. Also considers speculation and real estate appreciation. Prerequisite(s): courses 100A and 100B. The Staff

183. Women in the Economy. F
Study of gender roles in economic life, past and present. Topics include occupational structure, human capital acquisition, income distribution, poverty, and wage differentials. The role of government in addressing economic gender differentials is examined. (Also offered as Legal Studies 183. Students cannot receive credit for both courses.) Prerequisite(s): satisfaction of Entry Level Writing and Composition requirements; courses 1, 2, and 100A or 100M; course 113 strongly recommended. (General Education Code(s): W.) The Staff

184. Labor Wars in Theory and Film. F
This seminar focuses on the impact of trade unions and labor-market discrimination on the U.S. work force. The neo-classical, institutional, and radical/Marxist approaches to these questions are employed in the analysis. Films, both fictional and documentary, are utilized as primary source material. Prerequisite(s): permission of instructor based on quality of work in economics; courses 100A or 100M, 100B, and 113; satisfaction of the Entry Level Writing and Composition requirements. Enrollment limited to 20. (General Education Code(s): W.) D. Kaun

185. Value and Support of the Arts: Challenges and Opportunities in American Society. W
Considers the value of the arts in an era of increasing budgetary duress, along with focus on specific funding concerns arising in such an environment. Students cannot receive credit for this course and course 80J. Course 1 is strongly recommended as preparation. D. Kaun

186. Mathematical Methods for Economic Analysis. F
Presents mathematical methods commonly used in graduate-level economic analysis: basic matrix algebra, real analysis, functions, continuity concepts, differentiation, Taylor expansions, and implicit function theorem and optimization. Prerequisite(s): interview only: admitted to M.S. or Pathway Programs. The Staff

188. Management in the Global Economy. *
An overview of how firms do business in the global economy. Focus is on the firm, but also explores the impact of corporate decision-making on national welfare. Emphasizes how national economic policies and international institutions influence firm strategy and industrial structure. Prerequisite(s): courses 2 and 100A; course 100B strongly recommended as preparation. The Staff

189. Political Economy of Capitalism. *
An assessment of modern day capitalism from the three major economics paradigms-liberal, conservative, radical. Theories of Smith, Marx, and Keynes are explored in contemporary writing, with focus on the U.S. from WW II to present. Students cannot receive credit for this course and course 80A. Prerequisite(s): courses 1 and 2; courses 100A and 100B are recommended as preparation. D. Kaun

190. Senior Proseminar.
Courses focus on problems of interest to advanced students of economics. They offer a flexible framework, so those interested in specific issues can read, present papers, and develop their ideas. The Staff

191. Economics Teaching Practicum. F,W,S
Each student serves as facilitator for small discussion group in connection with core economics courses. Facilitators complete course readings and meet with instructor as a group to discuss the teaching process. May not be counted toward upper-division major requirements. May be repeated for credit. The Staff

192. Directed Student Teaching. F,W,S
Teaching of a lower-division seminar, course 42, under faculty supervision. May not be counted toward the upper-division major requirements. Students submit petition to sponsoring agency. The Staff

193. Field Study. F,W,S
Provides for department-sponsored individual field study in the vicinity of the campus under the direct supervision of a faculty sponsor (in contrast to course 198 where faculty supervision is by correspondence). May not be counted toward the upper-division major requirements. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

193F. Field Study (2 credits). F,W,S
Provides for department-sponsored individual field study in the vicinity of the campus under the direct supervision of a faculty sponsor. May not be counted toward the upper-division major requirements. Students spend 8-10 hours per week at job site. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

194. Advanced Topics in Business Management Economics (2 credits). *
This honors course for business management economics majors provides detailed analyses of specialized topics in finance and technology management. Topics may include venture capital, financial services industry, e-business, high tech entrepreneurship, high tech marketing, risk management, and options value approaches to business strategy. Corporate executives give guest lectures. Prerequisite(s): permission of instructor; review of performance in economics courses. Enrollment restricted to senior business management economics majors. Enrollment limited to 20. N. Singh

195. Senior Thesis. F,W,S
A supervised research project. If the project is of unusual scope, the course may be repeated for credit. Prerequisite(s): satisfaction of the Entry Level Writing and Composition requirements, students submit petition to sponsoring agency. (General Education Code(s): W.) The Staff

198. Independent Field Study. F,W,S
Provides for department-sponsored individual study program off campus for which faculty supervision is not in-person, but by correspondence. May not be counted toward the upper-division major requirements. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

198F. Independent Field Study (2 credits). F,W,S
Provides for department-sponsored individual study program off campus for which faculty supervision is not in person, but by correspondence. May not be counted toward the upper-division major requirements. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

199. Tutorial. F,W,S
May be repeated for credit, but may be counted only once toward the upper-division major requirements. Undergraduates may not take graduate courses for credit as 199. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

199F. Tutorial (2 credits). F,W,S
Specialized study with individual faculty. May not be applied toward the major requirements. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

Graduate Courses

200. Microeconomic Analysis. F
Survey of partial equilibrium analysis, market distortions, consumer choice and production and trade theory, perfect and imperfect competition, price discrimination, and intertemporal choice theory. The Staff

201. Applications in Microeconomics. S
Applies concepts and tools developed in course 200 to problems encountered in private- and public-sector output and labor markets. The focus is empirical; topics include analysis of labor supply and labor demand and the role of government labor market policies, analysis of pricing policies and regulation, estimation of the returns to schooling, estimation of demand and cost functions, and the role of unions in the economy. Course 200 is strongly recommended as preparation. The Staff

202. Macroeconomic Analysis. W
Aggregate economic analysis: determinants of aggregate expenditures and output, the roles of monetary and fiscal policy, recent developments in macro theory; macro policy issues. The Staff

204A. Advanced Microeconomic Theory. F
Economic theory of individual and market behavior, including constrained optimization, duality, theory of the consumer, theory of the producer, dynamic optimization, behavior under uncertainty, intertemporal choice, asymmetric information, game theory, partial and general equilibrium, pure and applied welfare economics, public goods and externalities. Illustrative examples emphasize international applications. Courses must be taken in sequence. The Staff

204B. Advanced Microeconomic Theory. W
Economic theory of individual and market behavior, including constrained optimization, duality, theory of the consumer, theory of the producer, dynamic optimization, behavior under uncertainty, intertemporal choice, asymmetric information, game theory, partial and general equilibrium, pure and applied welfare economics, public goods and externalities. Illustrative examples emphasize international applications. Courses must be taken in sequence. Prerequisite(s): course 204A. The Staff

204C. Advanced Microeconomic Theory. S
Economic theory of individual and market behavior, including constrained optimization, duality, theory of the consumer, theory of the producer, dynamic optimization, behavior under uncertainty, intertemporal choice, asymmetric information, game theory, partial and general equilibrium, pure and applied welfare economics, public goods and externalities. Illustrative examples emphasize international applications. Courses must be taken in sequence. Prerequisite(s): course 204B. The Staff

205A. Advanced Macroeconomic Theory. F
Modern macroeconomic theory: determination of national income; employment, inflation, and exchange rates; theories of growth and business cycle fluctuations; international transmission of inflation and other disturbances; recent developments in the analysis of macroeconomic policy; modern theoretical and empirical analysis of aggregate relationships. Courses must be taken in sequence. The Staff

205B. Advanced Macroeconomic Theory. W
Modern macroeconomic theory: determination of national income; employment, inflation, and exchange rates; theories of growth and business cycle fluctuations; international transmission of inflation and other disturbances; recent developments in the analysis of macroeconomic policy; modern theoretical and empirical analysis of aggregate relationships. Courses must be taken in sequence. Prerequisite(s): course 205A. The Staff

205C. Advanced Macroeconomic Theory. S
Modern macroeconomic theory: determination of national income; employment, inflation, and exchange rates; theories of growth and business cycle fluctuations; international transmission of inflation and other disturbances; recent developments in the analysis of macroeconomic policy; modern theoretical and empirical analysis of aggregate relationships. Courses must be taken in sequence. Prerequisite(s): course 205B. The Staff

209A. Accounting 1. F
Principles, control, and theory of accounting for assets; accounting as an information system; measurement and determination of income. M.S. level projects required. Enrollment restricted to graduate students. R. Shepherd

209B. Accounting II. W
Principles, control, and theory of accounting for liabilities and equities; preparation and analysis of cash flow statements and earnings per share computation. M.S. level projects required. R. Shepherd

210A. Mathematical Methods for Economic Analysis. *
Mathematical methods commonly used in economic analysis are discussed. Covers basic matrix algebra, real analysis, functions, continuity concepts, differentiation, Taylor expansion, implicit function theorem, and optimization. Prerequisite(s): qualifications as determined by instructor; inquire at department office. The Staff

210B. Mathematical Methods for Economic Analysis. F
A course in introductory mathematical economics which covers standard optimization problems, difference and differential equations, optimal control theory, decisions under uncertainty, game theory, and stochastic calculus. Course 210A or equivalent is strongly recommended as preparation. The Staff

211A. Advanced Econometrics. W
Advanced econometric methods are introduced. Topics include the standard regression analysis, simultaneous equation estimation, nonlinear models, qualitative response models, panel data analysis, and univariate and multivariate time series analysis. The Staff

211B. Advanced Econometrics. S
Advanced econometric methods are introduced. Topics include the standard regression analysis, simultaneous equation estimation, nonlinear models, qualitative response models, panel data analysis, and univariate and multivariate time series analysis. Course 211A is strongly recommended as preparation for course 211B. The Staff

211C. Topics in Empirical Research. F
A topic course in econometrics designed for graduate students interested in quantitative analysis. Selected topics, including standard and recently developed econometric techniques, are critically and thoroughly discussed. In addition to methodology, focuses on exploring the research potential and applications of advanced econometric techniques. Courses 211A and 211B are strongly recommended as preparation. The Staff

212. Empirical Project in Econometrics (2 credits). *
Empirical project or paper in econometrics to demonstrate student's ability to conduct applied econometric analysis. Ph.D. requirement to be completed by beginning of student's third year of study. Prerequisite(s): courses 211A and 211B. May be repeated for credit. The Staff

216. Applied Econometric Analysis I. F
The use of statistical techniques for the testing of economic hypotheses and the estimation of parameters, with emphasis on regression analysis. Includes methods of dealing with serial correlation, errors in variables, multicollinearity, and heteroscedasticity. Experience with common statistical packages. The Staff

217. Applied Econometric Analysis II. W
Focuses on the application of advanced econometric and time series techniques to economic issues. Computer assignments and empirical applications are used to discuss and illustrate the practical aspects of simultaneous equation systems, nonlinear models, qualitative response models, time series model specification, unit root test, and cointegration analysis. Course 216 is strongly recommended as preparation. The Staff

220A. Development Economics: Theory and Cases. *
Surveys traditional development economics and the neoclassical resurgence in development theory. Topics include sources of growth, income distribution, population and human capital development, savings, fiscal and monetary mobilization and allocation, foreign investment and aid, and macroeconomic policies. Case study focus in the second quarter. Courses 204A and 205A are strongly recommended as preparation. The Staff

220B. Development Economics: Theory and Cases. W
Surveys traditional development economics and the neoclassical resurgence in development theory. Topics include sources of growth, income distribution, population and human capital development, savings, fiscal and monetary mobilization and allocation, foreign investment and aid, and macroeconomic policies. Case study focus in the second quarter. Courses 204A and 205A are strongly recommended as preparation. The Staff

233. Finance I. S
Applications of economic analysis in private finance. Topics include risky choice and intertemporal choice theory, asset pricing models, efficient market hypotheses, market institutions, and derivative securities. Course 200 is strongly recommended as preparation. The Staff

234. Financial Institutions and Markets. F
This course examines the evolving microstructure of financial markets, instruments, and institutions. Topics include the role of banks and other financial intermediaries and the trading practices for domestic and international financial instruments, including equity, debts, futures, and options. Prerequisite(s): course 233. The Staff

235. Corporate Finance. W
Application of modern financial theory to corporate decision making. Topics covered include capital budgeting and the firm's investment decision, capital structure, dividend policies, and the implications of corporate governance for enterprise financial goals. Prerequisite(s): course 233.The Staff

236. Financial Engineering. *
This course surveys the financial risks faced by corporation, banks, and other financial institutions that arise from changes in interest rates, foreign exchange rates, commodity prices, and stock prices. It examines the characteristics, payoffs, and pricing of financial derivatives and other instruments for managing risk, including options, forwards, futures, swaps, structured notes, and asset-backed securities. Several cases will be used to illustrate how actual firms solve financial risk management problems. Prerequisite(s): course 233. The Staff

239. Current Topics in Finance. *
Topics in finance selected by the instructor. Prerequisite(s): course 233. The Staff

240A. Advanced International Trade Theory I. F
The theory of international trade and commercial policy. Both traditional analyses and recent developments are covered. Topics include both normative and positive theoretical analyses, as well as empirical testing of theory. Enrollment restricted to graduate students. Courses 204A-B-C are strongly recommended as preparation. The Staff

240B. Advanced International Trade Theory II. W
This is the second quarter of a two-quarter sequence. It deals with most major current advanced research topics in trade. It is both theoretical and empirical and is designed to acquaint students with recent research in the field. Research topics include models of political economy of trade policies; trade and labor markets; regionalism and multilateralism; trade and environment; theories, determinants, and implications of foreign direct investments; economic geography. Prerequisite(s): course 240A. The Staff

240C. Advanced International Trade Theory III. S
Covers the empirical aspects of international trade issues. Topics include the testing and estimation of various trade models such as the Ricardian model, Heckscher-Ohlin-Vanek model, intra-industry trade models, trade models associated with multinational corporations, models of trade and intellectual property rights, the impact of trade on income inequality, and trade between developed and developing economies. Prerequisite(s): course 240B. Enrollment restricted to graduate students. The Staff

241A. Advanced International Finance I. F
Financial aspects of aggregate capital and trade flows and income determination in open economies. Specific topics include financial risk in the international setting, international borrowing and lending, money and exchange rate regimes, income determination and macroeconomic policy, current issues in international monetary reform. The Staff

241B. Advanced International Finance II. W
An examination of the formulation and implementation of international economic policy from both theoretical and empirical perspectives. Topics include case studies in fiscal, monetary, exchange rate, tariff, and other regulatory policies. The Staff

241C. Advanced International Finance III. S
Focuses on empirical applications in international finance. Topics include structural and reduced form models of exchange rates, interest parity conditions, purchasing power parity, capital controls, capital flows to emerging markets, and government intervention in foreign exchange markets. Courses 202 and 203 or 205A-B-C strongly recommended as preparation. The Staff

243. History of the International Economy. *
Studies the evolution and functioning of the international economy from the days of the gold standard to the present. Particular attention is paid to the interwar period with its problems of structural transformations and their relation to the Great Depression and its immediate aftermath, the rise and fall of the Bretton Woods system, the experience of floating exchange rate regimes, the rise of the "new industrial countries," and the problems of international indebtedness. Courses 204A and 205A are strongly recommended as preparation. The Staff

249A. International Trade and Development Policy I. W
Focuses on a range of real-life issues in international trade and development. Topics include North American Free Trade Agreement (NAFTA), the semiconductor industry, the Boeing-Airbus aircraft trade problems, the World Trade Organization (WTO) and developing countries, U.S./Japan trade, trade and the environment, and U.S./China trade. Enrollment restricted to graduate students. The Staff

249B. International Trade and Development Policy II. *
Emphasizes government policies to promote growth. Topics include the "Washington Consensus," the East Asian "model," and recent policy changes in East Asia, Latin America, Eastern Europe, and the former Soviet Union. Prerequisite(s): course 249A. Enrollment restricted to graduate students. The Staff

250. Advanced Public Finance. F
Theory of the role of public sector expenditures and taxes in market economies. Analyzes efficiency and equity arguments for government intervention. Topics include the role of public debt and deficits in economies, international effects of tax and spending policies, and economic theories of public sector decision making. Courses 204A and 205A are strongly recommended as preparation. The Staff

259A. Cost-Benefit Analysis. W
Applications of economic analysis in public finance, largely from the revenue side: taxation. The issues considered include the effects of taxation on consumer welfare, consumption, labor, capital, production, growth. Course 200 is strongly recommended as preparation. The Staff

259B. Public Policy Analysis. *
Applications of welfare and microeconomic theory and methodology to the public expenditure question: cost-benefit. Effects of the taxes discussed in course 259A and sophisticated tools used in the face of these and other distortions with regard to measurement of benefits, costs, and the discount rate. Course 200 strongly recommended as preparation. The Staff

270. Advanced Topics in Microeconomic Theory. *
Advanced topics and current research in microeconomic theory, including game theory and general equilibrium analysis. Courses 204A-B and 205A are strongly recommended as preparation. The Staff

271. Advanced Topics in Macroeconomic Theory. *
Advanced topics and current research in macroeconomic theory, including DSGE models, empirical issues, and optimal policy analysis. Prerequisite(s): courses 204A-B-C, 205A-B-C, and 211A-B-C are strongly recommended as preparation. The Staff

272. Evolutionary Game Theory. W
Reviews static equilibrium concepts, games of incomplete information, and the traditional theory of dynamic games in discrete time. Develops recent evolutionary game models, including replicator and best reply dynamics, and applications to economics, computer science, and biology. Prerequisite(s): upper-division math courses in probability theory are strongly recommended. (Also offered as Computer Science 272. Students cannot receive credit for both courses.) D. Friedman

290. Topics in International Economics. *
Covers several advanced topics in the history of international economics, international trade, and international finance. Topics include imperfect competition and trade, strategic trade policies, increasing returns, and the pattern of trade, economic geography, exchange rate target zones, and balance of payment crises. Topics vary from year to year. Courses 204A-B-C and 205A-B-C are strongly recommended as preparation. The Staff

273. Advanced Applied Microeconomics.
Covers topics in applied microeconomics, including labor economics, public economics, and demography. Discusses advanced econometric techniques and theory commonly used in applied microeconomics and microeconomic theory . Students make extensive use of statistical packages and large data sets to complete course assignments. Upper-division econometric and microeconomics courses strongly recommended. R. Fairlie

291. Workshop in Applied Economics. S
Experience in applied projects, report writing and presentation, drawing on previous course work. The Staff

293. Field Study. F,W,S
Students will undertake analytical projects in public or private institutions. May be taken once to meet course requirements for the master's degree. The material covered must be different from that of the thesis topic. The Staff

294A. Applied Economics Laboratory (2 credits). F
Practical experience in managing computerized data sets and running statistical packages. Covers SAS, RATS, TSP, Bridge Equity System, LIMDEP, GAUSS, and MAPLE programs; and internet, IFS, OECD, and SPIRS EconLit databases. May be repeated for credit. The Staff

294B. Applied Economics Seminar (2 credits). *
Weekly seminar designed to present students with current working applications in various fields of applied economics and finance. Enrollment restricted to graduate students. May be repeated for credit. The Staff

295A. Directed Reading. F
Reading in research area of student interest, with faculty supervision through weekly discussion. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

295B. Directed Reading. W
Reading in research area of student interest, with faculty supervision through weekly discussion. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

295C. Directed Reading. S
Reading in research area of student interest, with faculty supervision through weekly discussion. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

296A. Third Year Ph.D. Seminar. F
Student presentations of literature and/or original research in areas of student research interest. Student discussion of presentations under faculty supervision. Prerequisite(s): courses 204C, 205C, 211B, 240A, 240B, 241A, and 241B are required preparation. The Staff

296B. Third Year Ph.D. Seminar. W
Student presentations of literature and/or original research in areas of student research interest. Student discussion of presentations under faculty supervision. Prerequisite(s): courses 204C, 205C, 211B, 240A, 240B, 241A, and 241B are required preparation. The Staff

296C. Third Year Ph.D. Seminar. S
Student presentations of literature and/or original research in areas of student research interest. Student discussion of presentations under faculty supervision. Prerequisite(s): courses 204C, 205C, 211B, 240A, 240B, 241A, and 241B are required preparation. The Staff

297. Independent Study.
Independent study and research under faculty supervision. Students submit petition to sponsoring agency. The Staff

298. Dissertation Research. F,W,S
Research toward Ph.D. dissertation under faculty supervision. Prerequisite(s): advancement to candidacy and students submit petition to sponsoring agency. May be repeated for credit. The Staff

299. Thesis Research.
May be taken once to meet course requirements for the master's degree. Students submit petition to sponsoring agency. The Staff 

*Not offered in 2006-07