Economics

2018-19 General Catalog

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

Faculty | Program Statement

---

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): PE-H.) 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): PE-H.) 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 I. F,W,S
Introduction to mathematical tools and reasoning, with applications to economics. Topics are drawn from differential calculus in one variable and include limits, continuity, differentiation, elasticity, Taylor polynomials, and optimization. Students cannot receive credit for both this course and Mathematics 11A or 19A or Applied Mathematics and Statistics 15A. (Also offered as Applied Mathematics and Statistics 11A. Students cannot receive credit for both courses.) (Also offered as Applied Math and Statistics 11A. Students cannot receive credit for both courses.) Students who have already taken Mathematics 11A or 19A should not take this course. Prerequisite(s): score of 300 or higher on the mathematics placement examination (MPE), Applied Math and Statistics 2, 3, or 6, or Mathematics 3. (General Education Code(s): MF.) The Staff

11B. Mathematical Methods for Economists II. F,W,S
Mathematical tools and reasoning, with applications to economics. Topics are drawn from multivariable differential calculus and single variable integral calculus, and include partial derivatives, linear and quadratic approximation, optimization with and without constraints, Lagrange multipliers, definite and indefinite integrals, and elementary differential equations. Students cannot receive credit for both this course and Mathematics 11B or 19B or Applied Math and Statistics 15B. (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, or Mathematics 11A, or Mathematics 19A. (General Education Code(s): MF.) The Staff

20. Economics for Non-Majors. F
Designed for non-majors seeking a basic introduction to core economic concepts relevant for social and public policy decision making. Fundamental economic concepts illustrated through their application to a variety of public policy questions. (General Education Code(s): PE-H.) The Staff

30. Introduction to Entrepreneurship. *
Provides an overview of the role and importance of entrepreneurship in the economy and society; a framework for approaching entrepreneurship and innovation; and exposure to the core competencies required of all entrepreneurs. The course incorporates case studies and speakers (often actual entrepreneurs) to provide context for the entrepreneurial topics covered in the course. The Staff

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

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 11B or Applied Mathematics and Statistics 11B or Mathematics 22 or 23A. 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. Students cannot receive credit for this course and course 100N. Prerequisite(s): courses 1; 2; and 11B or Applied Mathematics and Statistics 11B or Mathematics 22 or 23A. The Staff

100M. Intermediate Microeconomics, Math Intensive. *
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 11B or Applied Mathematics and Statistics 11B, or Mathematics 22 or 23A. The Staff

100N. Intermediate Macroeconomics, Math Intensive. *
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. Students cannot receive credit for this course and course 100B. Prerequisite(s): courses 1; 2; and 11B or Applied Mathematics and Statistics 11B, or Mathematics 22 or 23A. The Staff

101. Managerial Economics. 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

104. Is There Truth in Numbers: The Role of Statistics in Economics. W,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 or 100M, and 113, and Entry Level Writing and Composition requirements. The Staff

105. Topics in Macroeconomics. F
A seminar in advanced macroeconomics focusing on a selection of theoretical issues. Emphasis is on detailed modeling and analysis of macroeconomic processes. (Formerly Topics in Macroeconomic Theory.) Prerequisite(s): course 100B or 100N, and 113. 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 are required. Prerequisite(s): course 10B. The Staff

111B. Intermediate Accounting II. W
Covers the principles, control, the theory of accounting for liabilities and property; plant and equipment, the preparation and analysis of investments,and review and analysis of bonds and leases. Prerequisite(s): course 111A.. The Staff

111C. Intermediate Accounting III. S
Covers the principles of control, the theory of accounting for pensions and income taxes; the determination of share-based compensation and earnings per share, the calculation of shareholder's equity, and advanced topics in intermediate accounting. Prerequisite(s): course 111A.. The Staff

112. Auditing and Attestation. W
For business management economics majors interested in careers that emphasize accounting, finance, or technology management. Also for students who intend to take the CPA exam. Covers audit techniques, risk analysis, and development of control structures for major financial processes including cash, investments, accounts receivable, inventories, accounts payable, debt, equity capital, and related information systems security. Prerequisite(s): course 10B. The Staff

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 Applied Mathematics and Statistics 113. Prerequisite(s): courses 1 and 2; Applied Mathematics and Statistics 5 or 7; and one of the following: course 11B, Applied Mathematics and Statistics 11B, Mathematics 22, or Mathematics 23A. Courses 100A or 100B strongly recommended as preparation. (General Education Code(s): SR.) The Staff

114. Advanced Quantitative Methods. W
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 or 100M, and 113; concurrent enrollment in course 114L. The Staff

114L. Advanced Quantitative Methods (2 credits). W
Laboratory component associated with course 114. Topics include learning the fundamentals of programming in R language and learning to implement the modes and methods taught in course 114 lectures. Prerequisite(s): courses 100A or 100M, and 113; concurrent enrollment in course 114. The Staff

115. Introduction to Management Sciences. F
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 or 100M. The Staff

116. Advanced Topics in Accounting and Ethics. S
Covers topics in accounting and ethics. Builds a strong accounting foundation; develops critical thinking skills; and explores ethical standards in accounting, forensic accounting, international financial recording standards, and accounting for sustainability. Meets the California state educational ethics requirement for certified public accountant (CPA) licensure. Prerequisite(s): courses 111A and 111B. Enrollment is restricted to economics, business management economics, global economics, and the combined economics and environmental studies and mathematics majors. (General Education Code(s): PE-H.) The Staff

117A. Income Tax Factors for Individuals. W
Introduces federal taxation for individuals. Topics for study include taxable income, gross income exclusions and inclusions, capital gains, depreciation, business and itemized deductions, personal and dependency exemptions, passive activity losses, tax credits, and methods of accounting. Prerequisite(s): course 10B. The Staff

117B. Tax Factors of Business and Investment. F
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. (Formerly course 117.) Prerequisite(s): course 10B. The Staff

119. Advanced Accounting. F,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 or 111B. The Staff

120. Development Economics. W
Studies the microeconomics of development. Topics may include health and nutrition, education, intra-household economics, formal and informal risk-coping mechanisms, savings, credit, agriculture, institutions, and service delivery and corruption. Focuses on empirical methods. Problem sets require statistical software such as Stata. (Formerly Economic Development.) Prerequisite(s): courses 1, 2, and 113. The Staff

121. Economic Growth. S
Studies economic growth from theoretical, empirical, and historical perspectives. Topics include: theories of economic growth and their empirical importance, technology and innovation, social institutions and growth, and competing explanations of the global distribution of wealth. Prerequisite(s): courses 1, 2, 11A, and 11B (or the equivalent); course 100B is strongly recommended. The Staff

125. Economic History of the U.S. S
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 coursework in history also helpful. Enrollment is restricted to juniors and seniors. The Staff

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 coursework in history also helpful. Enrollment is restricted to juniors and seniors. The Staff

128. Poverty and Public Policy. W
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): courses 100A or 100M; and course 113. Enrollment is restricted to economics, business management economics, global economics, legal studies, or economics combined majors. The Staff

130. Money and Banking. F
Examines the nature of money, financial intermediation, financial asset pricing, and markets; banking business and the banking industry; financial and banking crises, especially the 2007-09 crisis in the U.S. and abroad; the evolving nature of financial regulation and supervision of banking and financial institutions and markets; history and functions of the U.S. central bank (Federal Reserve); the role of the central bank in providing liquidity, credit, and creating money; central bank emergency lending in crises; institutional design of central banks and macroeconomic policy. Prerequisite(s): courses 100B or 100N, and 113. The Staff

131. International Financial Markets. S
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 or 100M, and 100B or 100N. The Staff

133. Security Markets and Financial Institutions. F,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. W
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,S
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

138. The Economics and Management of Technology and Innovation. W
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. W
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. The Staff

139B. E-Commerce Strategy. S
Review of economic principles and trends in e-commerce, including online retailing of physical products, digital products and services, financial services, business-to-business transactions, e-business, and e-marketing. Business-to-business and business-to-consumer business models are explored both in terms of strategy and implementation. Topics include how and why successful companies deploy e-business strategies and how these evolve in fast-changing technological and business environments.. Prerequisite(s): course 139A or 161A. N. Singh, S. Owen

140. International Trade. F
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 or 100N. The Staff

142. Advanced Topics in International Economics.
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 or 100N, and 140 or 141. The Staff

143. Policy Issues in the International Economy. F
Covers selected issues concerning the international economy. Topics include: U.S. competitiveness; U.S. trade policy; immigration; trade and the environment; developing countries; foreign investment; foreign exchange markets; and international economic institutions. Prerequisite(s): courses 1, 2, and 100A or 100M. The Staff

148. Latin American Economies.
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.
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. S
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. Students cannot receive credit for this course and course 250. Prerequisite(s): course 100A or 100M, and course 100B or 100N. 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 or 100M and 113. The Staff

159. The Economics of Organizations. *
Uses an economic approach to shed light on questions such as why and how organizations are formed, and what consequences they may have on the adoption of different types of organizations for economic performance. Also emphasizes differences between the "internal markets" within organizations and market transactions. Prerequisite(s): course 100A or 100M. The Staff

160A. Industrial Organization. W
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 160A. Students cannot receive credit for both courses.) Prerequisite(s): course 100A or 100M. 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 or 100M. The Staff

161A. Marketing. F
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. (Formerly course 161.) Prerequisite(s): course 100A or 100M. The Staff

161B. Marketing Research. *
Prepares students to conduct market research and use it in solving real management problems. Students work with a company to solve marketing-based problems. Students conduct research, process data, and make a presentation to the company's management. Course work involves marketing, statistics, and communications; material is both qualitative and quantitative. Prerequisite(s): courses 113 and 161A. The Staff

162. Legal Environment of Business. *
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. The Staff

164. Economics and the Telecommunications Industry. *
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 or 100M, and 113. The Staff

165. Economics as an Experimental Science. *
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): course 100A or 100M, and course 113. Enrollment limited to 40. The Staff

166A. Game Theory and Applications I. F
Introduces modern game theory, including applications in social science, biology, and engineering. Topics include extensive form, strategic form, mixed strategies, incomplete information, repeated games, evolutionary games, and simulation techniques. (Also offered as Technology & Info Management 166A. Students cannot receive credit for both courses.) Prerequisite(s): Applied Mathematics and Statistics 5 or 7 or Economics 113; and Economics 11B, Applied Mathematics and Statistics 11B, or Mathematics 11B or 19B. Enrollment is restricted to juniors and seniors. Enrollment limited to 100. J. Musacchio

166B. Game Theory and Applications II.
Explores research frontiers in game theory, emphasizing applications in social science, biology, and engineering. Each interdisciplinary team develops a topic, and presents it to the class in oral and written reports and demonstrations. Students must have shown a strong performance in course 166A or equivalent. Students cannot receive credit for this course and Economics 272, Computer Science 272, or Biology: Ecology and Evolutionary 274. (Also offered as Computer Science 166B. Students cannot receive credit for both courses.) Prerequisite(s): course 166A or Computer Science 166A; satisfaction of the Entry Level Writing and Composition requirements. Enrollment is restricted to juniors and seniors. Enrollment limited to 40. The Staff

169. Economic Analysis of the Law. S
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 100M or permission of instructor. The Staff

170. Environmental Economics. F
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): course 100A or 100M, 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 or 100M. 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 or 100M. The Staff

180. Labor Economics. F
A study of topics in modern labor economics with an emphasis on data analysis and econometrics. Topics include labor supply, labor demand, human capital, minimum wage, employment and wage discrimination, immigration, self-employment, earned income tax credit, and unemployment insurance. Prerequisite(s): course 100A or 100M; and course 113. The Staff

183. Women in the Economy. *
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): course 100A or 100M; course 113 is strongly recommended. The Staff

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. Enrollment is restricted to applied economics and finance graduate students. The Staff

188. Management in the Global Economy. *
An overview of how firms do business in the global economy. The focus is on the motivations of firm behavior, but also explores the impact of corporate decision-making on national welfare. Includes a mix of business case studies, applied economic theory, and empirical applications. Prerequisite(s): course 113 and either course 100A or 100M. The Staff

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. 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. (General Education Code(s): PR-S.) 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 six hours per week at job site. Students submit petition to sponsoring agency. May be repeated for credit. (General Education Code(s): PR-S.) The Staff

194. Advanced Topics in Management. *
Honors course providing detailed analysis of specialized topics in management. Possible topics include: venture capital, the financial services industry, e-business, behavioral finance, advanced consumer behavior, entrepreneurship, high-tech marketing, risk management, and option value approaches to business strategy. Students cannot receive credit for this course and course 194F. Prerequisite(s): courses 100A or 100M, 100B or 100N, and 113. Enrollment is by permission of instructor, and review of performance in economics courses. Enrollment is restricted to senior and junior business management economics majors. Enrollment limited to 30. The Staff

194B. Advanced Topics in Business and Professional Development (2 credits). S
Enhances students' marketability, strengthens verbal and written communication skills, teaches appropriate business etiquette, improves networking skills, and helps students determine how to become an integral part of an organization's intellectual capacity. Business professionals provide guest presentations. Enrollment is restricted to sophomores, juniors, and seniors economics, business management economics, global economics majors and combined majors with mathematics and environmental studies. The Staff

194F. Advanced Topics in Management and Finance (2 credits). S
Detailed analysis of specialized topics in management. Possible topics include: venture capital, the financial services industry, e-business, behavioral finance, advanced consumer behavior, entrepreneurship, high-tech marketing, risk management, and option value approaches to business strategy. Formerly, Advanced Topics in Management and Finance. Prerequisite(s): courses 100A or 100M, and 113; courses 133 or 135 strongly recommended. Enrollment is restricted to senior and junior business management economics majors. Enrollment limited to 30. The Staff

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. The Staff

197. Economic Rhetoric: Using Economic Theory and Empirical Evidence in Arguing Policy. F,W,S
Economics students are expected to learn to effectively communicate economic theory and evidence relating to economic policy to audiences that do not have economics degrees. The skills to be learned are both written and oral communication. Students learn to present convincing policy arguments in position papers, executive summaries, and in oral presentation that may include charts and other means of communication. Prerequisite(s):Entry Level Writing & Composition requirement; one of the following courses: 100A,100M,100B,100N, or 113. Restricted to sophomore,junior,senior economics, business-management economics, global economics and combined economics/math majors. 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. (General Education Code(s): PR-S.) 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 spend six hours per week at the job site. Students submit petition to sponsoring agency. May be repeated for credit. (General Education Code(s): PR-S.) 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. Enrollment is restricted to applied economics and finance graduate students. 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. Enrollment is restricted to applied economics and finance graduate students. 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. Enrollment is restricted to applied economics and finance graduate students. The Staff

204A. Advanced Microeconomic Theory I. 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. Courses 204A, 204B, and 204C must be taken in sequence. (Formerly Advanced Microeconomic Theory.) Enrollment is restricted to Ph.D. students in economics or by permission of the instructor. The Staff

204B. Advanced Microeconomic Theory II. 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. Courses must be taken in sequence. (Formerly Advanced Microeconomic Theory.) Prerequisite(s): course 204A. The Staff

204C. Advanced Microeconomic Theory III. 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. Courses must be taken in sequence. (Formerly Advanced Microeconomic Theory.) Prerequisite(s): course 204B. The Staff

205A. Advanced Macroeconomic Theory I. F
Modern macroeconomic theory: theories of growth and business cycle fluctuations; theories of household and firm behavior; models of financial markets and labor markets; recent developments in the analysis of macroeconomic policy. Courses 205A, 205B, and 205C must be taken in sequence. (Formerly Advanced Macroeconomic Theory.) Enrollment is restricted to Ph.D. students in economics or by permission of instructor. The Staff

205B. Advanced Macroeconomic Theory II. W
Modern macroeconomic theory: theories of growth and business cycle fluctuations; theories of household and firm behavior; models of financial markets and labor markets; recent developments in the analysis of macroeconomic policy. Courses must be taken in sequence. (Formerly Advanced Macroeconomic Theory.) Prerequisite(s): course 205A. The Staff

205C. Advanced Macroeconomic Theory III. S
Modern macroeconomic theory: theories of growth and business cycle fluctuations; theories of household and firm behavior; models of financial markets and labor markets; recent developments in the analysis of macroeconomic policy. Courses must be taken in sequence. (Formerly Advanced Macroeconomic Theory.) Prerequisite(s): course 205B. The Staff

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 I. F
Introduces advanced econometric methods. Topics include probability theory, hypothesis testing, linear regression analysis, heteroscedasticity, serial correlation, instrumental variables, and panel data models. (Formerly Advanced Econometrics.) Enrollment is restricted to economics Ph.D. students or by permission of the instructor. The Staff

211B. Advanced Econometrics II. W
Focuses on the use of econometric methods for causal inference. Research designs covered include: OLS regression, non-parametric regression, propensity score, panel models, synthetic control, instrumental variables, and regression discontinuity. (Formerly Advanced Econometrics.) Prerequisite(s): course 211A. Enrollment is restricted to graduate students. The Staff

211C. Advanced Econometrics III. S
Covers foundational time series analysis for economics. Topics include: linear time series models, numerical estimation, forecasting, vector autoregression models, the Kalman filter, unit roots, and cointegration. (Formerly Topics in Empirical Research.) Prerequisite(s): course 211B. Enrollment is restricted to graduate students. 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. Enrollment is restricted to applied economics and finance graduate students. 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. Enrollment is restricted to applied economics and finance graduate students. The Staff

220A. Development Economics I. F
Studies the microeconomics of development. Topics may include health and nutrition, education, intra-household economics, formal and informal risk-coping mechanisms, savings, credit, agriculture, institutions, and service delivery, and corruption. (Formerly Development Economics: Theory and Cases.) The Staff

220B. Development Economics II. W
Methodological class covering how to build a good theoretical model, how to derive a convincing test of a model, and how to structurally estimate a model. Examples drawn largely (though not exclusively) from the study of economic development. (Formerly Development Economics: Theory and Cases.) The Staff

221A. Advanced Monetary Economics I. F
Covers major issues in monetary economics, focusing on the core theoretical models employed in monetary economics. Topics include: money in general equilibrium; money-in-the-utility function approaches; cash-in-advance models; search-based models; welfare costs of inflation; optimal inflation tax; informational frictions in monetary economies; financial and credit frictions; nominal price and wage frictions; time-dependent and state-dependent models of price adjustment; and money in new Keynesian models. Prerequisite(s): course 205 A-B-C, or by permission of instructor. Enrollment is restricted to graduate students. The Staff

221B. Advanced Monetary Economics II. S
Covers major issues in monetary economics, focusing on the core lessons for design and implementation of monetary policies. Topics include: welfare-based policy objectives; optimal policy under discretion; optimal commitment policies; model dynamic stochastic general equilibrium (DSGE) for policy analysis; open economy models for monetary policy analysis; learning; model uncertainty and policy design; empirical evidence on the channels of monetary policy transmission; monetary policy operating procedures; zero nominal interest-rate bound; international transmission of monetary policy; policy and asset prices. Prerequisite(s): course 205 A-B-C, or by permission of instructor. Enrollment is restricted to graduate students. The Staff

231. International Financial Management. W
Equips students with the analytical tools they need to make informed financial decisions and manage the risks that businesses face in today's competitive global environment. Covers the fundamental theories and real-world examples in international financial markets. Prerequisite(s): course 233. Enrollment is restricted to graduate students in Applied Economics and Finance. C. Hu

233. Finance I. F
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. Enrollment is restricted to applied economics and finance graduate students. The Staff

234. Financial Institutions and Markets. *
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. S
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. S
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. Enrollment is restricted to applied economics and finance graduate students. The Staff

238. Market Design: Theory and Pragmatics. *
Surveys the principles of mechanism design and applies them to a variety of 21st Century markets, e.g., for energy, spectrum, finance, online ads, and predictions. Student teams develop new applications. Enrollment is restricted to graduate students. D. Friedman

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

240A. International Trade I. W
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. (Formerly Advanced International Trade Theory I.) Enrollment is restricted to graduate students. Courses 204A-B-C are strongly recommended as preparation. The Staff

240B. International Trade II. *
The second quarter of a two-quarter sequence which focuses on advanced research topics in trade and its intersection with applied microeconomics. The course is theoretical and empirical, and designed to acquaint students with recent developments in the field. Research topics include: trade and development; political economy of trade policies; trade and labor markets; trade and environment; theories, determinants, and implications of foreign direct investments; economic geography; and spatial/urban economics. (Formerly Advanced International Trade Theory II.) Prerequisite(s): course 240A. The Staff

241A. Advanced International Finance I. F
Covers the foundations of international macroeconomics. Topics include international borrowing and lending, the role of international financial markets, exchange rate economics, wealth and income in open economies, and macroeconomic policy interdependence. The Staff

241B. Advanced International Finance II. W
Covers major topics in international finance and open economy macroeconomics, focusing on contemporary theoretical and empirical analysis. Topics include: international capital flows, financial crises, exchange rate economics, financial policy intervention, and fiscal and monetary policies in open economies. The Staff

241C. Advanced International Finance III. S
Covers contemporary research topics in international macroeconomics and finance, including advances in both theoretical analysis and empirical methods. Specific topics on international macroeconomics, finance, and policy vary. Courses 202 and 203 or 205A-B-C strongly recommended as preparation. The Staff

249A. International Trade and Development Policy I. *
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 is 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 is restricted to graduate students. The Staff

250A. Public and Applied Economics I. 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. Students cannot receive credit for this course and course 150. (Formerly course 250, Advanced Public Finance.) The Staff

250B. Public and Applied Economics II. W
Covers topics in applied microeconomics, including public, labor, education, environmental, and health. Discusses advanced econometric techniques used to establish causal identification. Students read and evaluate current research and develop an independent research agenda. (Formerly course 273, Advanced Applied Microeconomics.) The Staff

259A. Cost-Benefit Analysis. *
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. Students cannot receive credit for this course and course 153. The Staff

259B. Public Policy Analysis. W
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 Applied Microeconomics. S
Advanced topics and current research in microeconomic theory and applications, including topics on decision theory, game theory, behavioral economics, and general equilibrium analysis. The Staff

271. Advanced Topics in Macroeconomic Theory. W
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. *
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. Cannot receive credit for this course and Economics 166B or Computer Science 166B. (Also offered as Computer Science 272. Students cannot receive credit for both courses.) The Staff

274. Workshop in Macroeconomics and Monetary Economics (3 credits). F,W,S
For Ph.D. students in economics who are at the early stages of their research careers as well as for those who are engaged in dissertation work in macroeconomics and monetary economics. Topics vary from quarter to quarter depending on the interests of participants. Prerequisite(s): courses 205A, 205B, and 205C, or by consent of instructor. Enrollment is restricted to graduate students. May be repeated for credit. The Staff

275. Workshop in Applied Microeconomics (3 credits). F,W,S
For Ph.D. students in economics who are at the early stages of their research careers as well as for those who are engaged in dissertation work in applied microeconomics or other empirical work. Topics vary from quarter to quarter depending on the interests of participants. Enrollment is restricted to graduate students. May be repeated for credit. The Staff

276. Workshop in Experimental Economics (3 credits). F,W,S
For economics doctoral students who are at early stages of their research careers as well as those engaged in dissertation research using laboratory experiments and related techniques. Topics vary from quarter to quarter depending on the interest of participants. Enrollment is by permission of instructor. May be repeated for credit. 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

291. Workshop in Applied Economics. *
Experience in applied projects, report writing and presentation, drawing on previous coursework. The Staff

293. Field Study. F,W,S
Students will undertake analytical projects in public or private institutions. The material covered must be different from that of the thesis topic. The Staff

294A. Applied Economics and Finance Laboratory (2 credits). F,W
Practical experience in managing computerized data sets and running statistical packages. Covers STATA and R. (Formerly Applied Economics Laboratory.) Enrollment is restricted to applied economics and finance graduate students. May be repeated for credit. The Staff

294B. Applied Economics and Finance Seminar (2 credits). W,S
Bi-weekly seminars designed to present students with current working applications in various fields of applied economics and finance. (Formerly Applied Economics Seminar.) Enrollment is restricted to applied economics and finance graduate students. May be repeated for credit. The Staff

294C. Economics Guest Seminar Series (1 credit). *
Bi-weekly seminars by visiting faculty and industry leaders who are experts in their fields provide in-depth insight on topics relevant to graduate students in economics. Enrollment is restricted to graduate students. The Staff

294D. Applied Economics Seminar (2 credits). *
Weekly seminar designed to present students with current working applications in various fields of applied economics. Enrollment is restricted to economics Ph.D. students. The Staff

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

296A. Third Year Ph.D. Seminar. *
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. F,W,S
Independent study and research under faculty supervision. Students submit petition to sponsoring agency. The Staff

298A. Master's Thesis Research. F
May be taken once to meet course requirements for the master's degree. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

298B. Master's Thesis Research (10 credits). W
May be taken once to meet course requirements for the master's degree. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

298C. Master's Thesis Research (15 credits). S
May be taken once to meet course requirements for the master's degree. Students submit petition to sponsoring agency. May be repeated for credit. The Staff

299A. Doctoral Thesis Research. F,W,S
Research toward Ph.D. dissertation under faculty supervision. Prerequisite(s): advancement to candidacy and students submit petition to sponsoring agency. (Formerly, course 298 Dissertation Research) May be repeated for credit. The Staff

299B. Doctoral Thesis Research (10 credits). F,W,S
Research toward Ph.D. dissertation under faculty supervision. Prerequisite(s): advancement to candidacy and students submit petition to sponsoring agency. (Formerly, course 298 Dissertation Research) May be repeated for credit. The Staff

299C. Doctoral Thesis Research (15 credits). F,W,S
Research toward Ph.D. dissertation under faculty supervision. Prerequisite(s): advancement to candidacy and students submit petition to sponsoring agency. (Formerly, course 298 Dissertation Research) The Staff

* Not offered in 2018-19

[Return to top]

Revised: 07/15/18