Applied Economics

ECON 416. Mathematics for Economists. 3 Credits.

Study of mathematical methods in the areas of introductory calculus and linear algebra, and their application to economic analysis. Mathematical analysis of static and dynamic equilibrium models, growth models, distribution, production functions, cycles, activity analysis, mathematical programming, and model building. Prerequisite: MATH 146 or MATH 165. Prerequisite or Corequisites: ECON 308. F.

ECON 504. Microeconomic Theory & Applications. 3 Credits.

Economic theory and methodology; theory of consumer behavior and demand; theory of production and distribution; equilibrium in commodity and factor markets; general equilibrium and welfare; behavior of economic agents in imperfect competition. Particular attention is given to efficiency and equity ramifications of perfectly competitive economic systems. Prerequisite: ECON 308. Prerequisite or Corequisite: ECON 416. F.

ECON 505. Macroeconomic Theory & Applications. 3 Credits.

Advanced study of macroeconomic theoretical models with particular attention to the analysis of business cycles, income growth and evaluation of public policies concerned with inflation and unemployment. Prerequisite or Corequisite: ECON 416. S.

ECON 506. Econometrics. 3 Credits.

Econometric analysis of economic and financial data. Topics include simple linear regression, multiple linear regression, and nonlinear regression functions. Techniques for dealing with violations of the regression models assumptions, including multicollinearity, heteroskedasticity, measurement error, endogeneity, and autocorrelation. Additional topics include binary variables, instrumental variable regression, big data, and time-series models. Estimation and testing of economic models will be an important part of the course. Prerequisite: Admission to the MBA or MSAE program, or department consent required. S.