Economics (ECON)

The terms indicated are expected but are not guaranteed. For the courses offered during any given term, consult the Schedule of Classes.

203 Principles of Microeconomics (4, FaSp) Behavior of firms and consumers, functions of the price system, competition and monopoly, labor markets, poverty, government regulation, international trade, and the environment.

205 Principles of Macroeconomics (4, FaSp) Unemployment, inflation and output determination and links. Effects of government taxation and spending on growth, investment, saving, consumption, and trade.

238xg Political Economy and Social Issues (4, Fa) Contending politico-economic perspectives in modern Western thought: conservatism, liberalism, radicalism, and their relevance for contemporary policy issues including government and markets, class, race, gender, poverty and inequality. Not available for major credit to economics majors. Concurrent enrollment: WRIT 140.

303 Intermediate Microeconomic Theory (4, FaSp) Decision-making by business firms, consumer preferences and behavior, uncertainty, competition, monopoly, labor and resource markets, efficient resource allocation, externalities, and government policy. Prerequisite: ECON 203; MATH 118x or MATH 125; corequisite: ECON 205.

305 Intermediate Macroeconomic Theory (4, FaSp) The determinants of aggregate income, employment, and inflation; economic fluctuations; fiscal and monetary policy; financial markets; the national debt. Prerequisite: ECON 203 and ECON 205; MATH 118x or MATH 125.

317 Introduction to Statistics for Economists (4, FaSp) Introduction to statistical methods appropriate for analyzing economic data: probability theory, random variables and probability distributions, sampling, estimation, statistical inference. (Duplicates credit in former ECON 381.) Prerequisite: MATH 118x or MATH 125.

326 History of Economic Thought (4) Major contributions to economics from Adam Smith to the present, notably classical economics and its 19th century critics, neo-classical economics and its 20th century critics. (Duplicates credit in former ECON 415.) Prerequisite: ECON 203 or ECON 205.

328 Economic Theories, Ideologies, and Policies (4) Competing economic philosophies and ideologies; their implications for public policy and economic reform. (Duplicates credit in former ECON 370.) Prerequisite: ECON 203 or ECON 205.

330 The Political Economy of Institutions (4) Social functions served by the rules, laws, regulations, and customs that constrain human activity. Processes whereby such institutions adapt, or fail to adapt, to changing circumstances. Prerequisite: ECON 203.

332 Contracts, Organizations and Institutions (4) Contract law and economic organization, determinants of firm boundaries, transaction cost economics, agency theory, incomplete contracting, business strategy, bureaucracy, institutional environment, politics and property rights. Prerequisite: ECON 203.

336 The Political Economy of Values (4) Psychological foundations of human values and preferences. The role of values in organizational success, social order, and economic development. The political economy of shaping, reshaping, protecting, and destroying values. Prerequisite: ECON 203.

338 Political Economy and Social Issues (4, Sp) Contending politico-economic perspectives in modern Western thought and culture; absolutist, liberal, democratic, Marxist, anarchist, and other traditions, topics and issues. (Duplicates credit in former ECON 121x.) Prerequisite: ECON 205.

340 Economics of Less Developed Countries (4) Causes of economic underdevelopment: historical, institutional, structural, ideological, technological, cultural. Patterns and theories of development. Role of government, international trade, and education in economic growth. (Duplicates credit in former ECON 476.) Prerequisite: ECON 203 or ECON 205.

342 Economic Development of the Middle East (4) Historical and comparative analysis of economies of Middle Eastern countries: institutions, resources, trade, finance, income distribution, population, migration. (Duplicates credit in former ECON 477.) Prerequisite: ECON 203 or ECON 205.

343 Economic Development of East Asia (4) Contemporary economic problems of East Asian countries: management, labor, technology, trade, investment. Determinants of their high growth rates in the late 20th century. (Duplicates credit in former ECON 478.) Prerequisite: ECON 203 or ECON 205.

346 Comparative Economic Systems (4) Comparative analysis of the theory and practice of classic and contemporary economic systems; capitalism, Marxism, socialism, fascism, communism. Market and planning systems in selected countries. (Duplicates credit in former ECON 470.) Prerequisite: ECON 203 or ECON 205.

348 Current Problems of the American Economy (4, Fa) A comprehensive investigation of problems stemming from changing composition of the work force, urban decline, new technologies, inequalities, ethnic relations, government deficits. Prospects for continued growth. (Duplicates credit in former ECON 201.) Prerequisite: ECON 203 or ECON 205.

350 The World Economy (4, SpSm) International cooperation and conflict in the world economy. Global economic problems of growth and development, trade and finance, migration, economic stability, and the environment. (Duplicates credit in former ECON 202.) Prerequisite: ECON 203 or ECON 205.

357 Money, Credit, and Banking (4) The money, bond, stock, and other financial markets; portfolio choice; determinants of asset prices and interest rates; inflation; interactions between financial markets and government policies. (Duplicates credit in former ECON 320.) Prerequisite: ECON 203 and ECON 205.

360 Public Finance (4) Role of the government; income and corporate taxation; direct versus indirect taxation; optimal tax structure; public goods; public sector pricing; public debt and macroeconomic stability. (Duplicates credit in former ECON 310.) Prerequisite: ECON 203 and ECON 205.

365 Regional Economics (4) Industrial location; hierarchical structure of regions; relocation of jobs and people; growth and decline of regions; regional problems in the U.S. and elsewhere. (Duplicates credit in former ECON 355.) Prerequisite: ECON 203.

366 Urban Economics (4) Urban trends and problems, including changing urban form and function, urban public finance, housing, renewal, poverty, race, transportation, and the environment. (Duplicates credit in former ECON 356.) Prerequisite: ECON 203 and ECON 205.

378 Economics of Household Behavior (4) Determinants of marriage, divorce, childbearing, labor force participation, and education patterns. How various forms of discrimination affect these patterns. (Duplicates credit in former ECON 432.) Prerequisite: ECON 203 and ECON 205.

387x Economics for Natural Resources and the Environment (4, FaSp) An introduction to the economic tools and issues that affect natural resource use and environmental management. Not available for major credit to economics majors.

390 Special Problems (1-4) Supervised, individual studies. No more than one registration permitted. Enrollment by petition only.

392x Seminar: Latin American Studies (4) Themes in Latin American civilization; an interdisciplinary seminar for graduating seniors on general issues vital to all participant disciplines, e.g., nationalism, modernization, Indianism (Indigenismo). Not available for graduate credit.

395 Economic Policy Issues (4) Selected policy dilemmas, including welfare reform, urban renewal, government budget deficits, regulation and deregulation, environmental problems, immigration, and global development. Lectures by leading authorities and weekly discussion sessions. (Duplicates credit in former ECON 325.) Prerequisite: ECON 203 and ECON 205 and departmental approval.

401 Mathematical Methods in Economics (4, Fa) Introduction to quantitative methods for analyzing economic equilibria; comparative statics and dynamics. Utility theory, consumer behavior, and profit maximization. Model formulation in micro and macroeconomics. (Duplicates credit in former ECON 482.) Prerequisite: ECON 303.

402 Computational Methods for Economists (2) Numerical solution of linear algebraic equations, mathematical programs, and difference equations with specific applications in economics. (Duplicates credit in former ECON 484.) Prerequisite: ECON 303, ECON 305, CSCI 100x, and MATH 225 or ECON 401.

403 Introduction to Mathematical Economics (4) Theories of production, consumption, and general equilibrium using calculus, and linear and nonlinear programing. Dynamic models of growth and investment using differential and difference equations. (Duplicates credit in former ECON 486.) Prerequisite: ECON 303, ECON 305; ECON 401 or MATH 225.

404 Games and Economics (4) Analysis of strategic economic interactions. Topics include bargaining, insurance, patents, voting, environmental depletion, strategic trade, learning, reputation, strikes, corporate takeovers, and the provision of public goods. Prerequisite: ECON 303.

414 Introduction to Econometrics (4, FaSp) Application of statistical methods to economic data: estimating economic relationships using regression analysis, testing hypotheses involving economic behavior, forecasting economic variables. (Duplicates credit in former ECON 485.) Prerequisite: ECON 317.

417 Statistics for Economists (4) Introduction to mathematical statistics, including random variable, families of distributions, sampling, maximum likelihood and other methods of estimation, statistical inference. (Duplicates credit in former ECON 483.) Prerequisite: ECON 317; ECON 401 or MATH 226.

419 Forecasting (4) Trends, time-series models, low-cost forecasting methods, regression models, evaluation and combination of forecasts. Applications in business and economics. Prerequisite: ECON 317; corequisite: ECON 417.

420 Economic History and Development (4) Description and analysis of economic development; institutions involved in economic growth; comparative historical development of specific countries and regions. (Duplicates credit in former ECON 460.) Prerequisite: ECON 303 or ECON 305.

427 Marxian Political Economy (4) Marx and Marxism as critical responses to modern industrialization; Marxian analyses of economic power, alienation, distribution, depression, monopoly, development and transformation of capitalism, and communism. (Duplicates credit in former ECON 416.) Prerequisite: ECON 303 or ECON 305.

434 Economic Analysis of Law (4) Common law and property; rationing of justice, resource allocation between prevention and enforcement; division of decision making between public and private sectors. (Duplicates credit in former ECON 465.) Prerequisite: ECON 303.

450 International Trade (4) Determinants and economic consequences of international trade patterns; effects of trade restrictions and trading blocs; trade negotiations and arrangements. Prerequisite: ECON 303.

452 International Finance (4) Consequences of trade deficits; theories of capital and currency markets, exchange rate regimes, and international monetary coordination. Prerequisite: ECON 305.

457 Financial Markets (4) General equilibrium analysis of economies with financial markets; decision making under uncertainty; methods of risk reduction; portfolio theory and valuation of securities; efficiency of security markets. Prerequisite: ECON 303.

471 Economics of Labor Markets and Human Capital (4) A human capital interpretation of labor demand and supply; wage determination, differentials, and discrimination; job turnover and occupational mobility; unions and collective bargaining. (Duplicates credit in former ECON 430.) Prerequisite: ECON 303.

472 Economics of Medical Care (4) Health as an investment in human capital; analysis of the demand for and supply of health services and manpower; health insurance; cost-effectiveness analysis; market structures and the pricing of medical services. (Duplicates credit in former ECON 431.) Prerequisite: ECON 303.

473x Population Economics (4) Socioeconomic causes and effects of changes in fertility, migration and mortality; sex roles, labor force patterns, economic development, marriage, divorce, population policy. Not available for graduate credit. (Duplicates credit in former ECON 433x.) Prerequisite: ECON 303.

480 Economics of Industrial Organization (4) Pricing and resource allocation in imprefectly competitive markets; monopoly regulation, collusion, cartels, mergers and antitrust; patents and development incentives; industry case studies. (Duplicates credit in former ECON 435.) Prerequisite: ECON 303.

481 Economics of Mass Communications Industries (4) Industrial organization of the mass communications industries; concentration, regulation, and economic efficiency in print, film, and electronic broadcast media. (Duplicates credit in former ECON 436.) Prerequisite: ECON 303.

487 Resource and Environmental Economics (4) Management and extraction of renewable and non-renewable natural resources; environmental externalities and regulation of air, water, and land pollution; market incentives versus direct regulation. (Duplicates credit in former ECON 341.) Prerequisite: ECON 303.

488 Economics of National Security (4) Economic theory and practice in U.S. national security planning; cost-effectiveness analysis; defense economics: arms races, alliances, and technological competition. (Duplicates credit in former ECON 445.) Prerequisite: ECON 303.

490x Directed Research (2-8, max 8, FaSpSm) Supervised individual research. Not available for graduate credit. Requires departmental approval.

491 Research Apprenticeship (2-4, max 4) Enables superior students to serve as research assistant to, and to receive research guidance from, a faculty member on a project of mutual interest.

495 Honors Thesis (4) Individual research supervised by a faculty advisor. Successful completion required for departmental honors degree.

499 Special Topics (2-4, max 8, FaSpSm) Selected topics in economic theory, history, or policy.

500 Microeconomic Analysis and Policy (4, Fa) Theories of the household and the firm; product and factor markets; perfect and imperfect competition; welfare criteria. Prerequisite: ECON 303 and ECON 305; corequisite: ECON 401.

501 Macroeconomic Analysis and Policy (4, Sp) Theories of aggregate economic activity; design and use of macroeconometric models; stabilization and control of inflation, unemployment, and growth. Prerequisite: ECON 303, ECON 305, and ECON 401.

502 Mathematical Methods in Dynamic Economics (4, SpSm) Movement of economic systems over time; differential and difference equations; introduction to the optimal control of economic processes; dynamic programming and optimal strategies; selected applications. (Duplicates credit in former ECON 584.) Prerequisite: ECON 401.

503 Microeconomic Theory I (4, Fa) Optimization of the consumer and the firm; duality and imputed value; perfect and imperfect competition in product and factor markets. Prerequisite: ECON 401; recommended preparation: ECON 500.

505 Macroeconomic Theory I (4, Fa) Aggregate demand, supply and government policy; theories of economic growth and business cycles; static and dynamic implications of government policies. Prerequisite: ECON 401; recommended preparation: ECON 501, ECON 502.

506 Input-Output Analysis and Applied Mathematical Programming (4) Model construction, economic interpretation, computer solution and policy application, applications to regional, national, resource, environmental, and defense problems. (Duplicates credit in former ECON 582.) Prerequisite: ECON 401.

511 Econometric Methods (4, Sp) Review of statistical methods of estimation and inference, linear regression with multicollinearity and serial correlation; multivariate regression and simultaneous equations. (Duplicates credit in former ECON 581.) Prerequisite: ECON 402.

513 Practice of Econometrics (4) Application of econometric tools using standard econometric software packages for microcomputers; empirical applications to selected economic problems of estimation and inference. Prerequisite: ECON 401 or departmental approval.

523 Economic History and Development (4) Historical trends in developed and developing societies in various aspects of modernization such as human resources, capital, technology, resource allocation, income distribution, international relations. (Duplicates credit in former ECON 573.) Prerequisite: ECON 303 or departmental approval.

527 Classical Economic Theory and Its Critics (4) Classical economic theory; its precursors, main contributors, extensions, and critics; focus upon the writings and ideas of Smith, Say, Malthus, Ricardo, Mill, and Marx. (Duplicates credit in former ECON 515.) Prerequisite: ECON 303 and ECON 305 or departmental approval.

528 Economic Theories in the 20th Century (4) Neoclassical economic theory; its precursors, main contributors, extensions, and critics. Institutionalist economics, business cycle theory, and imperfect competition. (Duplicates credit in former ECON 516.) Prerequisite: ECON 303 and ECON 305 or departmental approval.

529 History of Economic Thought: Dissenting Traditions (4) Dissenting, heterodox traditions in the history of economic theory, especially from late 18th to early 20th centuries; e.g., Marxian, socialist, institutionalist, and/or other historicist contributions. (Duplicates credit in former ECON 517.) Prerequisite: ECON 303 and ECON 305 or departmental approval.

534 Political Economy of Institutions (4) The functions of laws, rules, customs, conventions, and other restrictions on economic and social activity. Theories of institutional evolution. (Duplicates credit in former ECON 574.) Prerequisite: ECON 303 or departmental approval.

537 Contracts, Organizations, and Institutions (4) Information, property rights, bargaining, transaction costs, incentives, free-riding and contracting in organizations; the nature of cooperation; bureaucracies. Prerequisite: ECON 303 or departmental approval.

538 Values and Social Analysis (4) Factors that make values an essential feature of human society; how values develop, change, and are abandoned; role of values in economic development. (Duplicates credit in former ECON 578.) Prerequisite: ECON 303 or departmental approval.

539 Political Economy (4) (Enroll in PEPP 539)

541 Economic Development (4) Development, underdevelopment and the problems thereof; agriculture, industry, trade, population, human capital, capital formation; structural, technological, environmental and institutional changes; political economy of the state. (Duplicates credit in former ECON 575.) Prerequisite: ECON 303 and ECON 305 or departmental approval.

546 Comparative Economic Systems I (4) Comparative review and critique of major theories of economic organization (capitalism versus collectivism), recent literature, criteria, and programs of national economic planning; control and reform. (Duplicates credit in former ECON 570.) Prerequisite: ECON 303 and ECON 305 or departmental approval.

547 Comparative Economic Systems II (4) Comparative analysis of goals, methodologies, and techniques of central planning in Western, Communist, and underdeveloped economies; recent programs and proposals for economic reform. (Duplicates credit in former ECON 571.) Prerequisite: ECON 303 and ECON 305 or departmental approval.

587 Advanced Natural Resource and Environmental Economics (4, Irregular) Covers the application of microeconomic theory to the management of natural resources, pollution, and environmental hazards. Prerequisite: ECON 487, ECON 500 or departmental approval.

590 Directed Research (1-12, FaSpSm) Research leading to the master's degree. Maximum units which may be applied to the degree to be determined by the department. Graded CR/NC.

594abz Master's Thesis (2-2-0, FaSpSm) Credit on acceptance of thesis. Graded IP/CR/NC.

599 Special Topics (2-4, max 8, FaSpSm) Selected topics in economics as developed by the instructor. Prerequisite: departmental approval.

600 Economics of Choice (4) Reviews the normative and positive theories of choice drawing upon recent theoretical and empirical work in cognitive and evolutionary psychology, artificial intelligence, linguistics and economics. Prerequisite: ECON 500.

603 Microeconomic Theory II (4, Sp) General equilibrium theory; existence, uniqueness, and stability; welfare economics; social choice; dynamic models and uncertainty; special topics. Prerequisite: ECON 503.

604 Game Theory (4) Strategies and equilibrium concepts; dynamic and repeated games; incomplete information and learning in games. (Duplicates credit in former ECON 685.) Prerequisite: ECON 500 or ECON 503.

605 Macroeconomic Theory II (4, Sp) Macroeconomic theory based on the concepts of optimal growth and intertemporal equilibrium; overlapping generations models; recent developments in macroeconomic theory. Prerequisite: ECON 503 and ECON 505.

606 Complex Economic Dynamics (4) Stability and instability, cycles, chaotic fluctuations, and evolving structure in economic processes. (Duplicates credit in former ECON 683.) Prerequisite: ECON 502.

607 Topics in Dynamic Optimization (4) Theory and numerical methods for dynamic optimization and control; selected applications in economic analysis and econometrics. (Duplicates credit in former ECON 585.) Prerequisite: ECON 502 and knowledge of FORTRAN.

609 Adaptive, Evolutionary Economics (4) Partial information, imperfect decision-making, incomplete coordination of production and exchange; adaptation to economic experience; evolution of market and government institutions. (Duplicates credit in former ECON 684.) Prerequisite: ECON 503 and ECON 505 or departmental approval.

612 Econometric Theory (4) Inference and prediction, generalized and restricted least square, specification analysis, multivariate and seemingly unrelated regressions, simultaneous equations techniques, dynamic models, instrumental variable estimation. (Duplicates credit in former ECON 687a.) Prerequisite: ECON 511.

613 Advanced Econometric Theory (4) Autoregression and distributed lag models, Bayesian methods, errors in variables models, systemwide models of the economy, error components of models, data pooling techniques, simulation methods. (Duplicates credit in former ECON 687b.) Prerequisite: ECON 511.

615 Applied Econometrics (4, Fa) Use of quantitative models to describe and forecast economic activity; estimation and application of such models to selected policy problems. (Duplicates credit in former ECON 586.) Prerequisite: ECON 511.

616 Experimental Economics (4) Laboratory methods for testing economic theory; experimental comparison of alternative market and non-market institutions; identification of behavioral responses to alternative regulations. (Duplicates credit in former ECON 518.) Prerequisite: ECON 500 or ECON 503.

639 Contemporary Economic Policy: Theory and Practice (4) History and analysis of the fundamental continuing policy issues: recession, inflation, public debt, regulation, international competition, energy resources and environmental issues, welfare and income distribution. (Duplicates credit in former ECON 526.) Prerequisite: ECON 500 and ECON 501 or departmental approval.

644 Economic Development Programming and Policy Planning (4) Model construction and application to policy and planning; open economy, Dutch disease, input-output, programming, computable general equilibrium, benefit-cost, sustainability, policy reforms and political economy. (Duplicates credit in former ECON 576.) Prerequisite: ECON 501 or ECON 505.

650 International Trade Theory (4) General equilibrium theory applied to theory and practice of commercial policy, economic growth, and trade. (Duplicates credit in former ECON 550.) Prerequisite: ECON 500 or ECON 503.

651 International Monetary Theory (4) Balance of payments concepts and measures; price theory and the foreign exchange market; international monetary systems; adjustment mechanisms; speculation and official intervention. (Duplicates credit in former ECON 551.) Prerequisite: ECON 500 or ECON 503 and ECON 501 or ECON 505.

657 Monetary Theory and Policy I (4) Money-credit creation; money demand; monetary aspects of general equilibrium and disequilibrium; conceptual problems of money and exchange. (Duplicates credit in former ECON 520.) Prerequisite: ECON 500 or ECON 503 and ECON 501 or ECON 505.

658 Monetary Theory and Policy II (4) Inflation, term structure of interest rates; financial intermediaries and monetary policy; monetary dimensions of economic stability, national income, and growth. (Duplicates credit in former ECON 521.) Prerequisite: ECON 500 or ECON 503, and ECON 501 or ECON 505.

659 Economics of Money and Financial Markets (4) Decision making and general equilibrium under uncertainty; financial markets, informational efficiency of asset prices; linkages between financial sectors. (Duplicates credit in former ECON 608.) Prerequisite: ECON 503.

660 Public Finance (4) Externalities; welfare economics of government supply of services; incidence and effects of taxes; program budgeting; benefit-cost analysis; debt. (Duplicates credit in former ECON 510.) Prerequisite: ECON 500 or ECON 503, and ECON 501 or ECON 505.

666 Urban Economic Theory (4) Urban location models; agglomeration economies; externalities and congestion; subcentering; monocentric and polycentric cities. (Duplicates credit in former ECON 556.) Prerequisite: ECON 500 or ECON 503.

670 Economics of Higher Education (4) Application of economic theory and techniques to study of higher education; monetary and non-pecuniary returns; price responsiveness; finance; cost control; institutional behavior; public policy issues. (Duplicates credit in former ECON 532.) Prerequisite: ECON 500.

671 Economics of Labor and Human Capital (4) A human capital interpretation of labor demand and supply; wage determination, differentials, and discrimination; job turnover and occupational mobility; unions and collective bargaining. (Duplicates credit in former ECON 530.) Prerequisite: ECON 500 or ECON 503.

672 Economics of Medical Care (4) Medical care as an investment in human capital; analysis of the demand for and supply of health services and labor; health insurance; cost-effectiveness analysis; market structures and the pricing of medical services. (Duplicates credit in former ECON 531.) Prerequisite: ECON 500.

673 Economics of Aging (4) Analysis of economic factors associated with an aging population; implications for individuals, society, and the economy. (Duplicates credit in former ECON 533.) Prerequisite: ECON 500.

680 Industrial Organization (4) Decision making, economic behavior and organization in firms; types of competition and market structure; property rights, nonprofit decision making. (Duplicates credit in former ECON 535.) Prerequisite: ECON 500 or ECON 503.

681 Economics of Regulated Industries (4) Theories and methods of government regulation; effects of regulation on various industries; behavior of regulatory agencies. (Duplicates credit in former ECON 536.) Prerequisite: ECON 500 or ECON 503.

690 Seminar in Economic Theory (2, max 8, FaSp) Current research in economic theory presented by faculty, students and outside scholars. Graded CR/NC. Prerequisite: departmental approval.

691 Seminar in Econometrics (2, max 8, FaSp) Current research in econometrics presented by faculty, students and outside scholars. Graded CR/NC. Prerequisite: departmental approval.

692 Seminar in Economic Development (2, max 8, FaSp) Current research in international, regional, and urban development economics presented by faculty, students and outside scholars. Graded CR/NC. Prerequisite: departmental approval.

693 Seminar in Applied Economics and Public Policy (2, max 8, FaSp) Current research in applied microeconomics, macroeconomics, and public policy presented by faculty, students and outside scholars. Graded CR/NC. Prerequisite: departmental approval.

694 Seminar in Dynamic Economics (2, max 8, FaSp) Topics in dynamic economics involving business fluctuations, economic growth and development, micro-economic adjustments and market mechanisms; related quantitative and qualitative methods; empirical research involving economic change. Graded CR/NC. Prerequisite: departmental approval.

699 Special Topics (2-4, max 8, FaSpSm) Selected topics in economics as developed by the instructor. Prerequisite: ECON 503 or ECON 505 or departmental approval.

700 Theory of Incomplete Markets (4) Production and exchange in sequence economies with missing markets; the role of contracts, financial instruments and money. (Duplicates credit in former ECON 682.) Prerequisite: ECON 603.

715 Advanced Topics in Econometrics (4) Time-series methods; aggregation; structural models and methods such as factor analysis and multiple indicator models; various special topics. (Duplicates credit in former ECON 785.) Prerequisite: ECON 612 and ECON 613.

741 Theories of Economic Development (4) Changing development patterns explained in terms of underlying economic forces: equilibrium and disequilibrium theories of growth and development; implications of theory for policy. Prerequisite: ECON 503, ECON 505, ECON 603, ECON 605 or departmental approval.

753 International Economic Integration (4) International factor price equalization; theories of customs unions, common markets, monetary unions, capital and labor transfers; the roles of national states, multinational corporations, international agencies. (Duplicates credit in former ECON 553.) Prerequisite: ECON 650.

755 Open Economy Macroeconomics (4) Economic analysis of national economies when trade and external financial flows are incorporated. Prerequisite: ECON 605.

790 Research (1-12, FaSpSm) Research leading to the doctorate. Maximum units which may be applied to the degree to be determined by the department. Graded CR/NC.

794abcdz Doctoral Dissertation (2-2-2-2-0, FaSpSm) Credit on acceptance of dissertation. Graded IP/CR/NC.

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