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Economics

107 Gardner Hall, CB# 3305
(919) 966-2383

NOTE: ECON 101 or equivalent is a prerequisite to all courses numbered above the 100 level. ECON 400 and 410 with a grade of C or better are a prerequisite for courses above 420. Courses designed for specific majors are ECON 310 for Management and Society majors and any 400 or 500 level courses for Economic majors. Only one in each of the following groups may be taken for graduation credit: 310 or 410; 320 or 420; 320 or 423; 340 or 440; 345 or 445; 380 or 480.

First Session, 2021

ECON 101 Introduction to Economics (4)

Introduction to fundamental issues in economics including competition, scarcity, opportunity cost, resource allocation, unemployment, inflation, and the determination of prices. Lecture available as IN-PERSON ON-CAMPUS and REMOTE ONLY-MOSTLY ASYNCHRONOUS. Recitation available as IN-PERSON ON-CAMPUS.

ECON 380 The Economics of Labor Relations (MNGT 380) (3)

Prerequisites, ECON 310 or 410. An economic analysis of workplace issues, including worker quits, layoffs and unemployment, discrimination and affirmative action, and the setting of pay, fringe benefits, and working conditions. Students may not receive credit for both ECON 380 and ECON 480.

ECON 400 Introduction of Statistics and Econometrics (3)

Prerequisites, ECON 101, STOR 155, and one of MATH 152, 231, STOR 112 or 113. Comprehensive introduction to statistics, including descriptive statistics and statistical graphics, probability theory, distributions, parameter estimation, hypothesis testing, simple and multiple regression, and use of powerful statistical estimation software. This course includes a substantial introduction to basic econometrics. IN-PERSON ON-CAMPUS.

ECON 410 Intermediate Theory: Price and Distribution (4)

Prerequisites, ECON 101, and one of MATH 152, 231, STOR 112 or 113. The determination of prices and the distribution of income in a market system. Students may not receive credit for both ECON 310 and 410. IN-PERSON ON-CAMPUS.

ECON 411 Game Theory (3) ***Cancelled***

Prerequisites, ECON 410 with a grade of C or better, or COMP 550, POLI 287, or POLI 288; permission of the instructor for students lacking the prerequisite. Game theory is the study of strategic interactions, where the best choice for the individual depends directly on what other individuals are doing. This course formalizes strategic interactions as mathematical games. Students examine the concept of a strategy, examine what it means to be rational or irrational, and define solution concepts that correspond to different assumptions. REMOTE ONLY-SYNCHRONOUS.

ECON 415 Market Failures (3)

Prerequisite, ECON 410 with a grade of C or better. This course is a continuation of ECON 410. While ECON 410 dealt with basic price theory and market successes, this course will mainly cover market failures. In particular, we will first explore the notion of efficiency and equity in a partial and general equilibrium framework. We will then add asymmetric information, behavioral economics, externalities, public goods, and market power to models learned in ECON 101 and ECON 410 to analyze the effects on economic efficiency. IN-PERSON ON-CAMPUS.

ECON 420 Intermediate Theory: Money, Income, and Employment (3)

Prerequisite, ECON 410 with a grade of C or better. An introduction to contemporary macroeconomic concepts and analysis. Topics include the level, fluctuations, and growth of national income, and monetary and fiscal policies designed to achieve economic goals. Students may not receive credit for both ECON 320 and 420. IN-PERSON ON-CAMPUS.

ECON 460 International Economics (3)

Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required. An introduction to international trade, the balance of payments, and related issues of foreign economic policy. IN-PERSON ON-CAMPUS.

ECON 468 Socialism, Planning, and the Contemporary Russian Economy (3)

MAYMESTER. Prerequisites, ECON 400, and 310 or 410; a grade of C or better in ECON 400, and 310 or 410 is required. Study of the principles, design, organization, and performance of state-controlled economies relying on planning or regulated markets, with an emphasis on continuity and post-communist transition. REMOTE ONLY-SYNCHRONOUS.

ECON 570 Applied Econometric Analysis (3)

Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required. Statistical methods in the construction, estimation, testing, and application of linear economic models; computer programs and interpretation of their output in empirical analysis of common economic theories. IN-PERSON ON-CAMPUS.

Second Session, 2021

ECON 101 Introduction to Economics (4)

Introduction to fundamental issues in economics, including competition, scarcity, opportunity cost, resource allocation, unemployment, inflation, and the determination of prices. IN-PERSON ON-CAMPUS.

ECON 400 Introduction of Statistics and Econometrics (3)

Prerequisites, ECON 101, STOR 155, and one of MATH 152, 231, STOR 112 or 113. Comprehensive introduction to statistics including descriptive statistics and statistical graphics, probability theory, distributions, parameter estimation, hypothesis testing, simple and multiple regression, and use of powerful statistical estimation software. This course includes a substantial introduction to basic econometrics. IN-PERSON ON-CAMPUS.

ECON 410 Intermediate Theory: Price and Distribution (4)

Prerequisites, ECON 101, and one of MATH 152, 231, STOR 112, or 113. The determination of prices and the distribution of income in a market system. Students may not receive credit for both ECON 310 and 410. REMOTE ONLY-SYNCHRONOUS.

ECON 420 Intermediate Theory: Money, Income, and Employment (3)

Prerequisite, ECON 410 with a grade of C or better. An introduction to contemporary macroeconomic concepts and analysis. Topics include the level, fluctuations, and growth of national income, and monetary and fiscal policies designed to achieve economic goals. Students may not receive credit for both ECON 320 and 420. IN-PERSON ON-CAMPUS.

ECON 425 Financial Economics (3) ***Cancelled***

Prerequisites, ECON 400, 410 and 420; a grade of C or better in ECON 400 and 410 is required. How does a risk averse individual allocate their funds? Students begin by defining and measuring risk, making connection to their microeconomics training. They then develop and use asset pricing models to explore the interplay between risk and return. Finally, students use these tools to develop a mean-variance optimal portfolio allocation. Students are introduced to basic quantitative tools and participate in myriad practical applications. IN-PERSON ON-CAMPUS.

ECON 480 Labor Economics (3)

Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required. An introduction to the field of labor economics with emphasis on how the interactions between firms and workers influence wages, employment, unemployment, and inflation. Students may not receive credit for both ECON 380 and ECON 480. IN-PERSON ON-CAMPUS.

ECON 490 Special Topics: Economics of Global Pandemics (3)

Prerequisites, ECON 400 and 410; a grade of C or better in ECON 400 and 410 is required. During this course, students will explore the effects of past pandemics and consider the micro- and macroeconomic impacts of the COVID19 pandemic on individuals, firms, and societies. Some topics include interpreting infection and mortality data, fiscal and monetary policy responses, encouraging research and development of vaccines, effects of pandemics on labor markets, allocation of scarce resources during pandemics, and the implications of the pandemic on racial, gender, and income inequality.