Professors
Taradas Bandyopadhyay, Ph.D.
Susan B. Carter, Ph.D.
Stephen E. Cullenberg, Ph.D.
Gary A. Dymski, Ph.D.
Mason Gaffney, Ph.D.
Keith B. Griffin, Ph.D.
Azizur R. Khan, Ph.D.
Victor D. Lippit, Ph.D.
Prasanta K. Pattanaik, Ph.D.
R. Robert Russell, Ph.D.
Richard C. Sutch, Ph.D.
Aman Ullah, Ph.D.
Professors Emeriti
Ronald H. Chilcote, Ph.D.
Howard J. Sherman, Ph.D., Jur.D.
Associate Professors
David H. Fairris, Ph.D.
Gloria González-Rivera, Ph.D.
Jang-Ting Guo, Ph.D.
Tae-Hwy Lee, Ph.D.
Assistant Professors
Marcelle Chauvet, Ph.D.
Xu Cheng, Ph.D.
Steven Helfand, Ph.D.
••
Cooperating Faculty
Keith C. Knapp, Ph.D. (Environmental Sciences)
Roger L. Ransom, Ph.D. (History)
Henry J. Vaux, Jr., Ph.D. (Environmental Sciences)

MAJORS

Economics studies the production and distribution of goods and services, as well as the way in which productive activity helps shape social existence. Economists are concerned with the factors determining national income, inflation, unemployment, output, growth and inequality (macroeconomics), as well as the behavior of individual decision-making units like households and firms (microeconomics). Economists are also concerned with the role of markets, money and interest rates, the forces affecting international trade, and many other problems of production and distribution.

Economics is the basis for many careers, some of which require only a B.A. degree while others require more advanced work. Possible careers include business, government, education and law.

The B.A. is the most general degree offered in economics. It is appropriate background for a wide variety of purposes, including graduate study and professional schools. However, those planning to attend a graduate program in economics may need more quantitative training than the B.A. requires. Students who are considering attending a graduate program in economics should consult with their undergraduate advisor. The Business Economics B.A. degree provides more specific preparation for careers in business administration or management or for graduate work in business.

Degree Requirements

University Requirements

College Requirements

Major Requirements

Economics Major

The major requirements for the B.A. degree in Economics are as follows:

1.  Lower-division requirements (16 units)

a)  ECON 002, ECON 003
b)  MATH 009A-MATH 009B

2.  Upper-division requirements (48 units)

a)  ECON 102A, ECON 102B
b)  ECON 103A, ECON 103B
c)  Either ECON 123/HISA 123 or ECON 125
d)  ECON 101/STAT 101 and ECON 107
e)  At least 20 additional upper-division units in Economics, including at least one course from ECON 171 through ECON 185

Note No internship courses may be counted toward the upper-division electives in Economics. MATH 009A-MATH 009B may also be used to meet breadth requirements.

The requirements for the B.A. degree in Economics listed in this catalog apply only to first-year students entering in Fall 1999 and thereafter. All other students -- continuing, transferring, and readmitting -- may follow former requirements as applicable under the catalog rights policy for undergraduate degrees. A list is available at the Department of Economics.

Business Economics Major

1.  Lower-division requirements (24 units)

a)  ECON 002, ECON 003
b)  BSAD 020A, BSAD 020B
c)  MATH 009A-MATH 009B

2.  Upper-division requirements (48 units)

a)  ECON 102A, ECON 102B
b)  ECON 103A, ECON 103B
c)  ECON 101/STAT 101 and ECON 107
d)  At least 20 additional upper-division units in Economics, including at least two courses from ECON 108, ECON 130, BSAD 153/ECON 153, BSAD 160/ECON 160, BSAD 162/ECON 162
e)  One course chosen from BSAD 142/PSYC 142, BSAD 151/SOC 151, BSAD 182/POSC 182

Note No internship courses may be counted toward the upper-division electives in Economics. MATH 009A-MATH 009B may also be used to meet breadth requirements.

Economics/Administrative Studies Major

1. Requirements for Economics (52 units)

a)  ECON 002, ECON 003
b)  ECON 102A, ECON 102B, ECON 103A
c)  Twenty-four (24) additional upper-division units in Economics
d)  ECON 101/STAT 101
e)  One of MATH 009A, MATH 022, or equivalent

2.  Requirements for Administrative Studies as specified by the advisory committee for the Administrative Studies program (37 units)

a)  Four lower-division courses (17 units)
(1)  BSAD 010 and BSAD 020A
(2)  STAT 048 or equivalent (may be used to satisfy breadth requirements)
(3)  CS 008 (may be used to satisfy breadth requirements)

b)  Two upper-division courses (8 units) from the list below:
(1)  ECON 102A or ECON 130 or BSAD 162/ECON 162
(2)  PSYC 140 or PSYC 142/BSAD 142
(3)  SOC 150/BSAD 150 or SOC 151/BSAD 151 or SOC 171
(4)  POSC 181 or POSC 182/BSAD 182 or POSC 183
(5)  ANTH 127 or ANTH 131

These two courses must be outside the discipline of the cooperating major and cannot be courses included as part of the three course Business Administration track or their cross-listed equivalents.

c)  A three-course track (12 units) in Business Administration courses, from one of the following:
(1)  Organizations (General): BSAD 105/ANTH 105, BSAD 150/SOC 150, BSAD 151/SOC 151, BSAD 176/SOC 176
(2)  Human Resources Management/Labor Relations: BSAD 142/PSYC 142, BSAD 152/ECON 152, BSAD 153/ECON 153, BSAD 155, BSAD 157
(3)  Business and Society: BSAD 116/PHIL 116, BSAD 161, BSAD 182/POSC 182, BSAD 186/POSC 186
(4)  Marketing: BSAD 110, and two from BSAD 112, BSAD 113, BSAD 114, BSAD 117
(5)  Managerial Accounting/Taxation: BSAD 163 and two from BSAD 166, BSAD 168A, BSAD 168B
(6)  Financial Accounting: BSAD 163, BSAD 165A, BSAD 165B
(7)  Finance: BSAD 134/ECON 134 and two from BSAD 135A, BSAD 136, BSAD 137, BSAD 138, BSAD 139
(8)  Management Information Systems: BSAD 170, BSAD 171, BSAD 173
(9)  Production Management: BSAD 121/STAT 121, and two from BSAD 122, BSAD 126, BSAD 127/STAT 127

Note In filling the dual requirements of the major students may not count more than two courses toward both parts of their total requirements. (This limitation applies to specified Economics requirements and specified Administrative Studies requirements, but does not apply to the required Mathematics and Statistics courses.)

Economics/Law and Society Major

1.  Requirements for Economics (44 units)

a)  ECON 002, ECON 003
b)  ECON 119
c)  ECON 102A, ECON 102B, ECON 103A
d)  Twenty (20) additional units of upper-division Economics courses

2.  Requirements for Law and Society (36 units)

a)  PHIL 007 or PHIL 007H
b)  LWSO 100
c)  One course chosen from the following list: ECON 111, PSYC 012, SOC 110A, POSC 114 (or equivalent course in research methods)
d)  Five courses chosen from the following list: ANTH 127, ECON 119, HISE 153, PHIL 183, POSC 167, SOC 159 (One of these courses may be replaced by a substitute choice from a list of courses published annually by the Law and Society Faculty Committee. Not more than two of the courses taken to meet this requirement [2.d] may be from the same department.)
e)  LWSO 193, Senior Seminar

Note In filling the dual requirements of the major, students may not count more than two courses toward both parts of their total requirements (This limitation applies to specified Economics requirements and Law and Society requirements.)

Minor

All candidates for the minor in Economics are required to take

1.  Lower-division requirements (8 units):ECON 002, ECON 003

2.  Upper-division requirements (24 units):

a)  ECON 102A, ECON 103A
b)  Four additional upper-division courses (16 units) in Economics

See Minors under the College of Humanities, Arts, and Social Sciences in the Undergraduate Studies section of this catalog for additional information on minors.

GRADUATE PROGRAM

Doctoral Degree

Master's Degree

Admission

Candidates for degrees are required to complete all general University requirements as specified in the Graduate Studies section of this catalog.

Doctoral Program The department encourages applicants from a variety of backgrounds, but a good understanding of intermediate microeconomics, intermediate macroeconomics, multivariate calculus, and elementary linear algebra is necessary to begin taking the core requirements, described below. In addition, two courses in basic probability and statistics or econometrics are required before beginning the core econometrics sequence. Students who do not satisfy the requirements, or who have been out of school for several years, should consider enrolling in the one-year M.A. program.

Master's Program Students should have first-year calculus, a course in statistics, and some background in economics before beginning course work. Students who do not meet these requirements may still be admitted but normally must take these courses as prerequisites to the required courses. Applicants to the M.A. program are expected to have the same academic potential as Ph.D. applicants, as reflected by GPA and GRE scores. Admission to the M.A. program does not guarantee later admission to the Ph.D. program.

Requirements for the Doctoral Degree

1.  Economic Theory

  Students must complete the following courses:

a)  ECON 200A-ECON 200B-ECON 200C (Microeconomic Theory)
b)  ECON 201A-ECON 201B-ECON 201C (Macroeconomic Theory)
c)  ECON 202A (Topics in Economic Theory: Critiques and Alternative Approaches) or ECON 202B (Topics in Economic Theory: Applications)
d)  ECON 212 (History of Economic Theory and Methodology)

All students must pass two cumulative examinations: one in microeconomic theory (covering topics encompassed in the course sequence ECON 200A-ECON 200B-ECON 200C) and one in macroeconomic theory (covering the topics encompassed by ECON 201A-ECON 201B-ECON 201C). Both examinations are given at the end of the first year, at the beginning of the fall quarter, and at the beginning of the calendar year. After completing the sequence of courses, students must sit for each examination at each offering until they have passed the requirement. An unexcused failure to sit for a required examination will be regarded as a failure. No student will be given more than three attempts to achieve a satisfactory grade on each one of the two examinations. Copies of the rules regarding these cumulative examinations are available in the department office.

2.  Quantitative Methods

  Students must complete the following courses:

a)  ECON 205A, ECON 205B, ECON 205C (Econometric Methods I, II, III)
b)  ECON 206 (Mathematics for Economists)

To satisfy these course requirements students must attain a "B" average in the ECON 200A-ECON 200B-ECON 200C; ECON 201A-ECON 201B-ECON 201C; ECON 205A, ECON 205B, ECON 205C sequences. They also must receive a grade of "B-" or better in ECON 202A or ECON 202B, ECON 212, and ECON 206. Core courses may be waived, based on equivalent graduate work completed elsewhere. The comprehensive examinations, however, may not be waived.

Field Requirements

All students must complete course work by taking one of the following options:

Option 1-Students must complete course work in two fields and pass a comprehensive field examination in the field they designate as their major field. Students must take at least three courses in each of both fields.

Option 2-Students must complete course work in one major field consisting of three courses and two fields consisting of two courses each. Students must pass a comprehensive examination in their major field.

Required of all students Students must write an original research paper that must be approved by the graduate affairs committee.

Field comprehensive examinations are given twice a year. No one course may be used to satisfy the course requirements of two fields:

1.  Advanced Econometrics

  Students must complete the courses (a) and (b) and one of the courses from (c), (d), (e), or (f) listed below.

a)  ECON 285E (Advanced Econometric Methods)
b)  ECON 285F (Topics in Econometrics)
c)  ECON 285G (Applied Econometrics)
d)  ECON 285-I (Macroeconometrics)
e)  ECON 285J (Nonparametric Econometrics)
f)  ECON 285K (Microeconometrics)

2.  Advanced Macroeconomic Theory

  Students must complete the following courses:

ECON 282E (Foundations of Macroeconomics)
ECON 282F (Advanced Monetary Theory)
ECON 282G (Special Topics in Macroeconomic Theory)

3.  Advanced Microeconomic Theory

  Students must complete three of the following courses:

ECON 283E (Rational Choice Theory)
ECON 283F (Measurement and Aggregation in Economics)
ECON 283G (General Equilibrium)
ECON 283I (Social Choice and Welfare)
ECON 283J (Uncertainty and Information)
ECON 283K (Special Topics in Microeconomic Theory)

4.  Advanced Political Economy

  (Former Marxian and Comparative Fields)

  ECON 202A (Topics in Economic Theory: Critiques and Alternative Approaches) is recommended.

  Students must complete three of the following courses:

ECON 272A (Political Economy: Marxian Economics)
ECON 272B (Political Economy: Efficiency, Justice, and Power)
ECON 272C (Political Economy: Comparative Political Economy)
ECON 271 (Radical Political Economy)
ECON 279 (Political Economy: Advanced Topics)

5.  Development Economics

  Students must complete three of the following courses:

ECON 215 (Applied Quantitative Methods in Development Economics)
ECON 260 (Theories of Economic Development)
ECON 261 (Contemporary Development Strategies)
ECON 262 (Project Evaluation in Developing Countries)
ECON 265 (Agricultural and Rural Development)
ECON 266 (The Political Economy of Imperialism)

6.  International Trade Theory

  Students must complete the following courses:

ECON 234 (International Trade Theory)
ECON 235 (Topics in International Trade Theory)

7.  Labor Economics

  Students must complete the following courses:

ECON 240 (Labor Supply, Labor Demand, and the Structure of Wages)
ECON 241 (Labor Institutions and Macro Labor Outcomes)
ECON 243 (Topics in Labor)

8.  Money, Credit, and Business Cycles

  Students must complete three of the following courses:

ECON 250 (Money, Credit, and the Macroeconomy)
ECON 251 (Business Cycle Theory)
ECON 252 (Fiscal Policy, Employment, and Capital Accumulation)
ECON 254 (Topics in Money, Credit, and Business Cycles)

9.  Resource and Environmental Economics

  Students must complete three of the following courses:

ECON 207 (Environmental Economics)
ECON 208 (Models of Nonrenewable Resource Management)
ECON 209 (Models of Renewable Resource Management)

Not all of these fields and courses are offered every year; offerings depend primarily on student demand.

As the department faculty is expanding, we expect to add additional fields in the near future. These may include Economic History, International Economics, and Public Economics.

Oral Qualifying Examination To advance to candidacy, a Ph.D. student must pass an oral qualifying examination. This examination covers the student's dissertation prospectus and subject matter related to the student's field. It is given by a committee of five faculty, at least one of whom must not be a member of the Department of Economics faculty. Students who enter the program fully prepared normally take the examination by the end of the third year.

Dissertation Requirements and Final Examination The final requirement is the completion of a dissertation, under the direction of a dissertation committee, and passing a final examination defending the dissertation. The dissertation committee is normally composed of three Department of Economics faculty members (including cooperating faculty), usually chosen from the oral qualifying examination committee. Students who enter the program fully prepared normally complete the dissertation by the end of the fifth year.

Requirements for the Master's Degree

Course Requirements

1. ECON 110 (Mathematical Economics) or ECON 206 (Mathematics for Economists)
2. ECON 204A (Microeconomic Theory for Master's Students) or ECON 200A-ECON 200B (Microeconomic Theory)
3. ECON 204B (Macroeconomic Theory for Master's Students) or ECON 201A-ECON 201B (Macroeconomic Theory)
4. ECON 107 (Introductory Econometrics I) and ECON 108 (Introductory Econometrics II), or ECON 205A (Econometric Methods I) and ECON 205B (Econometric Methods II)
5. ECON 212 (History of Economic Theory and Methodology)

Comprehensive Examination Requirement

1. Master's examination covering the topics in ECON 204A, ECON 204B
2. Doctoral comprehensive examination in either microeconomic theory or macroeconomic theory (graded at the master's level)
3. Doctoral Comprehensive Examination in any of the nine fields described above (graded at the master's level)

Lecture, three hours; discussion, one hour. Examines the history of economic institutions, the ideas of the great economists, and selected contemporary issues.

ECON 002. Introduction to Macroeconomics. (4)

Lecture, three hours; discussion, one hour. An introduction to the study of the economic system from a macro, or aggregate, perspective. Includes analysis of unemployment, inflation, and the impact of government policies on the level of economic activity.

ECON 003. Introduction to Microeconomics. (4)

Lecture, three hours; discussion, one hour. An introduction to the study of the economic system from the micro, or individual decision-maker's, perspective. Includes analysis of competition, monopoly, and the distribution of income.

ECON 006. Introduction to Environmental Economics. (4)

Lecture, three hours; discussion, one hour. An introduction to the basic principles of economics and their application to problems of environmental quality and natural resource utilization. Emphasis is on the failure of markets as a cause of environmental degradation and the role of government in resolving problems of resource scarcity. Cross-listed with ENSC 006. This course does not satisfy the Natural Science breadth requirement for the College of Humanities, Arts, and Social Sciences.

Lecture, three hours; discussion, one hour; laboratory, one hour. Prerequisite(s): MATH 005. An introduction to the basic statistical methods for economics. Topics include economic data analysis, index numbers, univariate and bivariate probability distributions, correlation and regression, sampling distributions, properties of estimators, and hypothesis testing. Cross-listed with STAT 101.

ECON 102A. Microeconomic Theory. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 003 or consent of instructor. MATH 009A or MATH 022 strongly recommended. A comprehensive discussion of the competitive market system, modern utility theory of consumer behavior, firm behavior in product and factor markets, and monopoly.

ECON 102B. Microeconomic Theory. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 102A or consent of instructor. A continuation of ECON 102A. Covers imperfect competition, general equilibrium, welfare economics, intertemporal decision making, uncertainty, and information.

ECON 103A. Macroeconomic Theory. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 002. The theory of income, employment, and the price level. The role of the international economy. Introduction to fiscal and monetary policy.

ECON 103B. Macroeconomic Theory. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 103A. ECON 102A recommended. The theory of money growth, inflation, business cycles, and stabilization policy. The role of money and credit. The microfoundations of consumption and investment. Selected policy debates. Introduction to alternative macroeconomics theories.

ECON 104. Data Analysis for Economics and Business. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 002, ECON 003; or consent of instructor. Introduction to the sources of economic and business data and data analysis using graphs, plots, computers, and descriptive statistics. Index numbers, measures of inequality, and simple regression analysis are also introduced.

ECON 107. Introductory Econometrics I. (4)

Lecture, three hours; discussion, one hour; laboratory, one hour. Prerequisite(s): ECON 002 or ECON 003; ECON 101/STAT 101; or consent of instructor. An introduction to the basic tools of econometrics. Focuses on the issues relating to the linear regression model, including heteroskedasticity, serial correlation, and multicollinearity.

ECON 108. Introductory Econometrics II. (4)

Lecture, three hours; discussion, one hour; laboratory, one hour. Prerequisite(s): ECON 107 or consent of instructor. A continuation of ECON 107. Covers, at an introductory level, the basic concepts related to logit and probit models, simultaneous equations models, dynamic time series models, unit roots and Auto-Regressive Conditional Heteroskedasticity (ARCH), and forecasting.

ECON 110. Mathematical Economics. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 102A; MATH 009A-MATH 009B. The use of mathematical tools to analyze economic problems, with emphasis on linear algebra and differential calculus. Applications to comparative statistics and optimization problems.

ECON 111. Research Methods in Business and Economics. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 002 or ECON 003. Introduction to research methods in business and economics. Topics include the scientific method and notions of progress in science, problems of research design, data sources and data gathering techniques, the case study method, and measurement and interpretation of business and economic data.

ECON 113. The Political Economy of Latin America. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): upper-division standing or consent of instructor. Examination of reform and revolution, dependency and autonomy, state planning and markets; import substitution and multinationals; bureaucratic centralism and participatory democracy; inflation and debt; transitions to capitalism and socialism.

ECON 115. Marxian Political Economy. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): upper-division standing or consent of instructor. Fundamental concepts of Marxian political economy, including historical materialism, surplus value, exploitation, class analysis, economic crises, the state, socialism, and Marxian methodological foundations.

ECON 116. Foundations of Political Economy. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): upper-division standing or consent of instructor. Explores ways of thinking about economic and social issues precluded by conventional approaches to economic analysis. Topics include the class relations between labor and capital, discrimination, market socialism, and alternative perspectives on development, macroeconomic instability, and the environment.

ECON 117. Economics and Philosophy. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 003 or consent of instructor. Examines issues on the boundary of economics and philosophy. Topics include social choice theory and economic justice; foundations of utility theory, rational choice, and economic welfare; epistemology and the philosophies of science of Popper, Kuhn, and others. Cross-listed with PHIL 119.

ECON 118. The Contemporary United States Economy. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 002, ECON 003. Provides a broad survey of issues relating to the development of the U.S. economy and especially its contemporary structure. Incorporates issues relating to both macro- and microeconomic phenomena, with a focus on questions that are of particular relevance to current policy.

ECON 119. Law and Economics. (4)

Lecture, three hours; term paper, three hours. Prerequisite(s): ECON 002 or ECON 003 or consent of instructor. An economic analysis of legal institutions and their evolution, including the areas of property laws, contract law, tort law, and criminal law.

ECON 120. The Great Economists. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): upper-division standing or consent of instructor. In-depth study of selected influential writers or a school of writers on economics or political economy. Emphasis will focus on selected writers' relations to other schools and other writers.

ECON 123. American Economic History. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): upper-division standing or consent of instructor. Covers economic history of the United States from colonial times to the present. Cross-listed with HISA 123.

ECON 125. History of Economic Thought. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 002, ECON 003. Study of the development of major economic theories, including those of Adam Smith, Karl Marx, and John Maynard Keynes. Focus on how alternative theories define and address economic problems differently, and the policy implications which follow.

ECON 130. Introduction to Money, Banking, and Credit. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 002. Basic theories of the operations of modern monetary systems; money, credit, and interest rate behavior; financial intermediation and central banking; methods and objectives of monetary and regulatory policy.

ECON 132. Public Finance. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 102A and ECON 103A. ECON 130 or ECON 134/BSAD 134 recommended. Functions of government in a market economy: distributive equity, taxation, spending, borrowing, and debt management. Promotion of capital formation, full employment, stability, and efficient resource use. Intergovernmental relations.

ECON 134. Corporate Finance and Investment. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 003; upper-division standing; BSAD 020A and BSAD 020B recommended. Covers the foundation materials for both corporate financial management, and investment and portfolio analysis. Topics include time value of money, capital budgeting, capital structure, dividend policy, portfolio theory, CAPM, and market efficiency. Cross-listed with BSAD 134.

ECON 135. The Stock Market. (4)

Lecture, three hours; discussion, one hour; individual study, three hours. Prerequisite(s): ECON 002, ECON 003. An analysis of the history of the stock market and its role in the macroeconomy. Topics include factors governing stock prices, fundamental and technical analysis, the impact of inflation and interest rates, international investing, and the role of social institutions in the determination of stock prices.

ECON 143A. Environmental Economics. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 003, MATH 022 or equivalent; or consent of instructor. Introduction to economic analysis of natural resources and the environment with emphasis on environmental quality. Topics include environment-economy interactions and social choice theory; source control costs, damage valuation, and efficient pollution control; and design of efficient and equitable environmental policy. Cross-listed with ENSC 143A.

ECON 143B. Natural Resource Economics. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 143A/ENSC 143A or consent of instructor. Considers the extraction and use of natural resources. Topics include land use and natural capital economics and valuation; economics of mineral and nonrenewable resources including recycling; and managing biological and renewable resources, including common property, efficient usage, and regulation. Cross-listed with ENSC 143B.

ECON 143C. Ecological Economics and Environmental Valuation. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 143A/ENSC 143A or consent of instructor. Survey of environmental valuation and economy-wide, long time-scale issues. Valuation methods covered include hedonic pricing, weak complements, contingent valuation, and ecosystem services. Environmental macroeconomic topics include population growth, biophysical constraints to economic growth, intertemporal welfare and sustainability, and sustainable development. Cross-listed with ENSC 143C.

ECON 146. Urban Economic Problems. (4)

Lecture, three hours; term paper, one hour. Prerequisite(s): ECON 003 or consent of instructor. The application of economic principles to the major problems of the modern urban community, such as poverty, discrimination, deterioration of environment and housing problems. Programs for alleviation or solution. Cross-listed with URST 146.

ECON 148. Land and Resource Economics. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 102A. Distinctive qualities of land and its rent; valuation of land as an investment. Assembly, division, and development of land; efficiency of land market and effects of taxation. Concentrated ownership, separation of ownership and management, rent and taxable surplus, and origins and kinds of tenure.

ECON 152. Economics of Labor Relations. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 002, ECON 003. An analysis of the history of labor and industrial relations in the U.S. with emphasis on problems of collective action, long-swings of economic growth, income inequality, and the role of government. Cross-listed with BSAD 152.

ECON 153. Labor Economics. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 102A. An analysis of labor demand, labor supply, and the structure of wages. Neoclassical, institutional, and radical perspectives emphasized. Cross-listed with BSAD 153.

ECON 155. Women's Labor and the Economy. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 002 and ECON 003. Focuses on economic analyses of four topics: women's work in and out of the paid labor force; gender differences in occupation, earnings, and income; marriage, divorce, and childbearing; and public policy regarding women's work and standard of living. Differences among women by race, ethnicity, class, marital status, and parental responsibilities are explored. Cross-listed with WMST 155.

ECON 156. Population Dynamics and Economic Well-being. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 002, ECON 003. Examines the causes and consequences of population dynamics. Economic models of such demographic behavior as fertility, mortality, marriage, and migration are presented. Consequences of population change for economic growth, the environment, and well-being are discussed.

ECON 160. Industrial Organization. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 102A. A study of the organization and structure of the American industrial system with emphasis on its production and pricing behavior and policies, its market structure, and public policies regulating or influencing its market behavior. Cross-listed with BSAD 160.

ECON 162. Managerial Economics. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 003. ECON 102A recommended. Applications of economic analysis to problems of management, especially of capital. Emphasis on production economics and cost analysis. Cross-listed with BSAD 162.

ECON 163. Economics and Business Strategy. (4)

Lecture, three hours, individual study, three hours. Prerequisite(s): ECON 101/STAT 101, ECON 102A, ECON 102B, ECON 103A. An analysis of the relationship between economic theory and business strategy, including the competitive structures and patterns of regulatory oversight, in different U.S. industries. Basic concepts of game theory are used to understand strategic business behavior and are applied to actual case studies.

ECON 171. International Finance. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 002. International monetary theory and its applications. Topics include balance of payments; exchange rates; open-economy macroeconomics; international monetary institutions. Selected policy issues addressed.

ECON 175. Comparative Analysis of Economic Systems. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): upper-division standing or consent of instructor. Examines the varieties of capitalism as well as its characteristic features and systematic problems. Topics also include the search for an alternative; central planning; and market socialism.

ECON 178. International Trade. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 003. A study of the pure theory of trade, trade policy, and international factor movements including illustrative applications to current issues and problems. Cross-listed with BSAD 178.

ECON 179. The Chinese Economy. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): upper-division standing or consent of instructor. A study of China's economic development, with some historical background, but with the main focus on the modern period. Topics include agricultural collectivization and decollectivization, alternative socialist development strategies, and economic reform.

ECON 180. Transition from Socialism to Capitalism. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 002, ECON 003; or consent of instructor. Examines the transition from central planning to a more market-oriented economic system in Central and Eastern Europe, the countries of the former Soviet Union, China, Mongolia, and Vietnam. Evaluates alternative transition strategies using Russia and China as the key examples.

ECON 181. Economic Development: Theory and Policy. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 002, ECON 003. A survey of the main theories of economic development and an analysis of the major development strategies and policies.

ECON 182. Trade, Globalization, and Development. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 002, ECON 003. Explores the theory of comparative advantage as a guide to development policy. Discusses trade regimes and their effects on development. Analyzes the nature and consequences of the globalization of the world economy.

ECON 185. Economic Development in Latin America. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 002, ECON 003. A comparative analysis of the major trends in Latin American economies since 1945. Topics include the theory and practice of import substitution, industrialization, the debt crisis, stabilization and structural adjustment, regional integration, poverty and income distribution, the informal sector, the agricultural sector, and the environment.

ECON 190. Special Studies. (1-5)

Course is repeatable to a maximum of 12 units.

ECON 193A-ECON 193B. Senior Seminar. (4-4)

Seminar, three hours; individual study, three hours. Prerequisite(s): senior standing; ECON 102A, ECON 102B, ECON 103A, and ECON 103B. Advanced research in various fields of faculty interest. Students will be required to complete a research paper and present their results in the seminar. Topics will vary from year to year. The final grade will be deferred until completion of the sequence of work.

ECON 198-I. Individual Internships in Economics. (1-12)

Prerequisite(s): junior standing with major in Economics and consent of instructor (to be obtained before pre-enrollment). Active participation in the work of a public or quasi-public agency or business concern in matters relating to general or business economics. The student spends approximately 10 hours each week with such an employer. A summary paper is required. One unit for every three hours spent in internship. Open to majors on a Satisfactory (S) or No Credit (NC) basis.

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 102A and ECON 102B or equivalents; ECON 206. Focuses on consumer and producer theory under conditions of certainty.

ECON 200B. Microeconomic Theory. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 200A or equivalent. Focuses on decision making under uncertainty, economics of information, applications of game theory, and models of imperfect competition.

ECON 200C. Microeconomic Theory. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 200B or equivalent. Focuses on general equilibrium theory, including existence and stability, and on welfare economics and social choice.

ECON 201A. Macroeconomic Theory. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 103A and ECON 103B or equivalents; ECON 206 (may be taken concurrently). Examines the basic issues and models of macroeconomics.

ECON 201B. Macroeconomic Theory. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 201A or equivalent. Covers, but is not limited to, investment and consumption, labor and monetary economics, tax and debt policy, and mathematics for macroeconomists.

ECON 201C. Macroeconomic Theory. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 201B or equivalent. Focuses on the phenomena of business cycles, both the empirical characteristics and the theoretical models.

ECON 202A. Topics in Economic Theory: Critiques and Alternative Approaches. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): graduate standing. Critiques of conventional economic theories and consideration of alternative theories and approaches to issues of aggregate economic growth and instability from Marx to the present.

ECON 202B. Topics in Economic Theory: Applications. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 200A-ECON 200B-ECON 200C; ECON 201A-ECON 201B-ECON 201C; ECON 205A-ECON 205B-ECON 205C. Applies the theories and methods covered in ECON 200A-ECON 200B-ECON 200C and ECON 201A-ECON 201B-ECON 201C sequences to real-world problems, including (1) the specification of functional form and the estimation of supply and demand systems, (2) index number theory and the measurement of inflation, the cost of living, output, and other macroeconomic phenomena, (3) computable general equilibrium models, (4) programming methods, (5) problems of aggregating over agents and commodities, and (6) the measurement of economic phenomena like productivity, poverty, income and wealth distribution, technical and allocative inefficiency, and input substitutability.

ECON 205A. Econometric Methods I. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 102A and ECON 103A, MATH 009A, MATH 009B, STAT 100A-STAT 100B; or equivalents. Econometric methods for the analysis of economic data and the construction of econometric models with applications to microeconomics and macroeconomics. Covers the linear regression model and related techniques of matrix algebra, statistical estimation, and inference.

ECON 205B. Econometric Methods II. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 205A or equivalent. Examines econometric methods covering extensions of the basic regression model, nonlinear models, and limited dependent variable models.

ECON 205C. Econometric Methods III. (4)

Lecture, three hours; discussion, one hour. Prerequisite(s): ECON 205B or equivalent. Examines econometric methods for the analysis of economic data and the construction of econometric models with applications to time-series macroeconomics. Covers univariate time-series models, volatility models, simultaneous equation models, and dynamic econometric models.

ECON 206. Mathematics for Economists. (4)

Lecture, three hours; discussion, one hour; individual study, three hours. Prerequisite(s): MATH 009A-MATH 009B; MATH 010A, MATH 023, or equivalents. Covers mathematics that is extensively used in economics, including static optimization theory, elementary difference and differential equations, and dynamic optimization.

ECON 207. Environmental Economics. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 200A or ECON 206 or equivalent. Theory and methods of environmental economics. Externality theory, bargaining solutions, property rights, and resource allocation mechanisms. Environmental policy under uncertainty and asymmetric information. Dynamic and general equilibrium models of environmental quality. Empirical studies and methods.

ECON 208. Models of Nonrenewable Resource Management. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 200A or ECON 206 or equivalent. Dynamic models of nonrenewable resources. Uncertainty, game theory, and the measurement of resource scarcity. Examination of empirical models of nonrenewable resources.

ECON 209. Models of Renewable Resource Management. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 200A; ECON 205A or equivalent; ECON 206. The study of economic valuation of natural resources and the environment. Includes topics such as environmental demand theory, travel cost models, random utility models, discrete choice models, the contingent valuation technique, and hedonic wage and pricing models. Covers theory, empirical methods, and applications.

ECON 212. History of Economic Theory and Methodology. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. The origins and contemporary development of alternative economic theories. Methodological and philosophical debates in economics.

ECON 215. Applied Quantitative Methods in Development Economics. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. Construction of national income and other macroeconomic accounts. Input-output accounts, sample survey methods, and other empirical techniques.

ECON 234. International Trade Theory. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): ECON 200A, ECON 200B, ECON 200C; or consent of instructor. Examines the determinants of trade in goods and services, international flow of labor and capital, and the effects of trade policy on welfare and income distribution.

ECON 235. Topics in International Trade Theory. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s) ECON 234 or consent of instructor. An in-depth study in selected areas of international trade theory. Topics include, but are not limited to, trading blocks, trade agreements and strategic interactions, trade and the environment, and the political economy of international trade. Course is repeatable to a maximum of 8 units.

ECON 240. Labor Supply, Labor Demand, and the Structure of Wages. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. This course introduces students to the theoretical and empirical literature on labor supply and demand and on the structure of wages. The contributions of neoclassical, institutional, and radical economists will be discussed.

ECON 241. Labor Institutions and Macro Labor Outcomes. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. A historical perspective on industrial structure, personnel management systems, labor unions, and government, and their relation to macro labor outcomes such as income distribution, productivity growth, and unemployment.

ECON 243. Topics in Labor. (4)

Lecture, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. In-depth study in selected areas of labor economics. Topics include, but are not limited to, economic demography and race and gender issues. Course is repeatable as topic changes.

ECON 250. Money, Credit, and the Macroeconomy. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. Investigation of the role of money, credit, and financial institutions in influencing growth, distribution, employment, prices, and business cycles in capitalist economies. Fiscal policy, monetary policy, and public investments are addressed from alternative theoretical perspectives.

ECON 251. Business Cycle Theory. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. An in-depth treatment of theories of the cycle and empirical data on relations of variables over the cycle.

ECON 252. Fiscal Policy, Employment, and Capital Accumulation. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing. This course will cover governmental taxing, spending, and debt, especially their effects on capital formation, income distribution, and employment.

ECON 254. Topics in Money, Credit, and Business Cycles. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. Selected topics in the performance of the macroeconomy, monetary and fiscal theory, and monetary and fiscal policy.

ECON 258 (E-Z). Seminar in Resource Economics. (4)

Seminar, three hours; research, three hours. Prerequisite(s): graduate standing or consent of instructor. Selected topics in E: Environmental Economics. F: Natural Resource Economics. G: Urban and Regional Economics. H: Agricultural Economics.

ECON 260. Theories of Economic Development. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. A survey of the major theories of development and underdevelopment beginning with the classical model, theories of surplus, and including the models of Lewis, Nurkse, Hirschman, neoclassical schools, structuralist models, and dependency theory.

ECON 261. Contemporary Development Strategies. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. A review of the performance of the major strategies of development implemented in the recent past or currently under implementation.

ECON 262. Project Evaluation in Developing Countries. (4)

Seminar, three hours;individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. The rationale for social benefit-cost analysis of projects in developing countries. Estimation of shadow prices to replace the distorted market prices in evaluating project profitability. The role of income distribution, externality, and uncertainty in project evaluation.

ECON 264. Topics in Economic Development. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. Selected themes for advanced study in economic development. Course is repeatable to a maximum of 8 units.

ECON 265. Agricultural and Rural Development. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. This course is concerned with the economics of agricultural and rural development in developing countries. Topics examined include technical change, sharecropping and interlinked factor markets, migration, poverty and famine, land reform, environmental aspects of rural development, and structural adjustment within agriculture.

ECON 266. The Political Economy of Imperialism. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. Examination of traditional and contemporary theories of imperialism, with attention to the origins and evolution of principal ideas and a critical assessment of their influence on developmental literature.

ECON 271. Radical Political Economy. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. A survey of the methodology of radical political economy and an examination of its logical, empirical, and normative bases.

ECON 272A. Political Economy: Marxian Economics. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. A study of Marxian economic theory, including historical materialism, the role of value, class, exploitation, and accumulation in Marxian economics, and a survey of current debates on these issues.

ECON 272B. Political Economy: Efficiency, Justice, and Power. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. Covers the various notions of efficiency used in political economic analysis, as well as their application in historical and comparative institutional contexts. Theories of justice in the distribution of rewards and the extent to which efficiency is separable from justice. Different notions of how power influences economic outcomes.

ECON 272C. Political Economy: Comparative Political Economy. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. Explores economic institutions and various methodological approaches to economics from a comparative perspective. Topics include types of capitalism (market-oriented, welfare-state, and the East Asian model), transitional economies, and market socialism. Institutional, socioeconomic, and radical political economy approaches to economic analysis are also discussed.

ECON 278. The Political Economy of the State. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. Examination of theories of the capitalist state: Marxist, non-Marxist, and post-Marxist. Assessment of theory through case studies of advanced industrial and third world societies.

ECON 279. Political Economy: Advanced Topics. (4)

Seminar, three hours; individual study, three hours. Prerequisite(s): graduate standing or consent of instructor. Topics in the methodology and theory of political economy. Repeatable to a maximum of 8 units.

ECON 281A-ECON 281B. Workshop in Political Economy. (2-2)

Seminar, two hours; individual study, two hours. Prerequisite(s): graduate standing. Reading and discussion of selected topics in political economy; presentation and discussion of student papers and current faculty research in the area. Graded Satisfactory (S) or No Credit (NC).

ECON 282 (E-Z). Advanced Macroeconomic Theory. (4)

Seminar, three hours; outside research, three hours. Prerequisite(s): passing grade on the macroeconomic comprehensive examination or consent of instructor. Covers advanced topics in macroeconomic theory. State-of-the-art research papers and books will be read, and presentations will be made by students as well as faculty. E. Foundations of Macroeconomics; F. Advanced Monetary Theory; G. Special Topics in Macroeconomic Theory. ECON 282G is repeatable to a maximum of 8 units.

ECON 283 (E-Z). Advanced Microeconomic Theory. (4)

Seminar, three hours; outside research, three hours. Prerequisite(s): passing grade on the microeconomics comprehensive examination or consent of instructor. Covers advanced topics in microeconomic theory. State-of-the-art research papers and books are read, and presentations are made by students as well as faculty. E. Rational Choice Theory; F. Measurement and Aggregation in Economics; G. General Equilibrium; I. Social Choice and Welfare; J. Uncertainty and Information; K. Special Topics in Microeconomic Theory. ECON 283K is repeatable to a maximum of 8 units.

ECON 285 (E-Z). Advanced Econometrics. (4)

Seminar, three hours; outside research, three hours. Prerequisite(s): ECON 205A, ECON 205B, ECON 205C; or consent of instructor. Advanced topics and recent developments in econometrics. State-of-the-art research papers and books are read, and presentations are made by students as well as faculty. E. Advanced Econometric Methods; F. Topics in Econometrics; G. Applied Econometrics; I. Macroeconometrics; J. Nonparametric Econometrics; K. Microeconometrics. ECON 285F is repeatable to a maximum of 8 units.

ECON 289. Colloquium in Economics. (1)

Seminar, two hours. Prerequisite(s): graduate standing. Lectures and discussion by students, faculty and invited scholars on specially selected topics. Graded Satisfactory (S) or No Credit (NC). May be repeated for credit.

ECON 290. Directed Studies. (1-6)

Prerequisite(s): graduate standing and consent of instructor. Directed studies of selected problems of economic analysis. Open to graduate students who desire to do special work in a particular field. Graded Satisfactory (S) or No Credit (NC). Course is repeatable.

ECON 291. Individual Study in Coordinated Areas. (1-12)

Research, three to thirty-six hours. A program of study designed to advise and assist candidates who are preparing for examination. Graded Satisfactory (S) or No Credit (NC). Repeatable as follows: (1) a student may take up to 12 units prior to the award of the M.A. (these 12 units do not count toward the required M.A. units); (2) a student may take up to 18 additional units after award of the M.A. but prior to successful completion of the Ph.D. qualifying examination.

ECON 292. Concurrent Analytical Studies. (2-4)

Lecture, one to three hours; research, six to twelve hours. Prerequisite(s): consent of instructor. Each 292 course will be taken concurrently with some 100-series course, but on an individual basis. It will be devoted to completion of a graduate paper based on research or criticism related to the 100-series course. Faculty guidance and evaluation will be provided through the quarter. Graded Satisfactory (S) or No Credit (NC). May be repeated for credit.

ECON 297. Directed Research. (1-6)

Prerequisite(s): graduate standing and consent of instructor. Directed research on selected problems in economics. Designed for graduate students who have not yet passed their qualifying examinations. Graded Satisfactory (S) or No Credit (NC). Course is repeatable.

ECON 299. Research for Thesis or Dissertation. (1-12)

Prerequisite(s): graduate standing and consent of instructor. Research in economics under the direction of a staff member to be included as part of the doctoral dissertation. Graded Satisfactory (S) or No Credit (NC). Course is repeatable.

Practicum, three to eleven hours; seminar, one hour. Prerequisite(s): limited to department TAs; graduate standing. Supervised teaching in upper- and lower-division courses. Required of all economics teaching assistants. Graded Satisfactory (S) or No Credit (NC). May be repeated for credit.