3223 Social Science Plaza B; (949) 824-5788

Undergraduate Program

Graduate Program

Courses

Economics is concerned with the way individuals or societies allocate scarce resources and distribute goods and services. Any situation requiring choice among competing alternatives can be viewed as an economic problem. Economics courses enable students to study the way individuals make these choices (microeconomics), the way governments make these choices (public choice), and the aggregate consequences of these choices (macroeconomics). In addition, the economics curriculum addresses international trade, money and banking, and economic development of the less developed nations.

The Department of Economics is composed of faculty with interests in a broad range of areas within micro- and macroeconomics, and the evaluation of public policy. It is especially strong in econometrics (both Bayesian and Classical), public choice, and empirical microeconomics including transportation, energy, industrial organization, labor, and urban development. Members of the Department maintain close ties with members of the Department of Political Science and The Paul Merage School of Business.

Undergraduate Program

In anticipation that the number of students who want to major in Economics will exceed the number of positions available, students applying for admission for fall 2006 should be sure to file their application before November 30, 2005.

In the event the major in Economics receives more qualified applicants than can be accommodated, applicants may be subject to screening beyond minimum University of California admissions requirements. Freshman applicants not selected for Economics at the time of admission will be encouraged to opt for the Undeclared major within the School of Social Sciences or for any other open major for which they qualify. However, lower-division courses prerequisite to upper-division major study are available to all students.

Change of Major. Information about change-of-major requirements, procedures, and policies is available in the School of Social Sciences Undergraduate Counseling Office and at http://www.due.uci.edu/ Change_of_Major.html.

Transfer-Student Applicants: For transfer-student admission, preference will be given to junior-level applicants with the highest grades overall and who satisfactorily complete course prerequisites. All applicants must complete the following required courses: one year of microeconomics and macroeconomics with a minimum average grade of B, and one semester or two quarter courses of approved calculus with a minimum average grade of B.

REQUIREMENTS FOR THE BACHELOR'S DEGREE

University Requirements: See pages 56-60.

School Requirements: See page 430.

Departmental Requirements for the Major

School requirements must be met and must include 16 courses (64 units) as specified below:

A. Economics 20A-B-C, or equivalent.

B. Economics 110A-B-C, or Statistics 120A-B-C, or equivalent.

C. Mathematics 2A-B and 4, or equivalent courses.

D. Economics 100A-B-C.

E. Four additional four-unit upper-division Economics courses, including a set of courses that involves the production of a significant research paper.

Honors Program in Economics

The Honors Program in Economics provides outstanding students an in-depth study of economic theory and an opportunity to work more closely with faculty members in smaller honors-designated courses. Students complete an honors thesis devoted to the collection and rigorous analysis of data, demonstrating their achievement of an advanced level of research and analytical skills. The program is open to selected students who are majoring in Economics, and admission is based on a formal application that is normally submitted in the spring quarter after students have completed three quarters of calculus, one course in linear algebra, and Economics 20A-B. Applicants should have an overall grade point average of at least 3.2 and a grade point average of at least 3.5 in Economics courses. In the first year of the program, students enroll in Honors Intermediate Economics I, II, III (Economics H100A-B-C), Statistics 120A-B-C (if not taken earlier), and, in the second year, Econometrics I, II, III (Economics 123A-B-C). The honors thesis is usually completed while taking Economics 123C. Upon successful completion of an approved thesis, students graduate with Honors in Economics and their transcript notes that they have completed the Honors Program in Economics. Successful completion of the thesis also satisfies the upper-division writing requirement.

To graduate with Honors in Economics, School requirements must be met and must include 20 courses (80 units) as specified below:

A. Economics 20A-B-C.

B. Mathematics 2A-B and 4 must be completed prior to taking Economics H100A.

C. Mathematics 6C or an equivalent course.

D. Statistics 120A-B-C or equivalent.

E. Economics H100A-B-C.

F. Economics 123A-B-C.

G. An honors thesis.

H. A minimum of four additional upper-division Economics courses, with a grade point average of at least 3.2.

I. Achievement of a grade point average of at least 3.2 in all upper-division Economics courses taken to fulfill requirements.

Sample Program -- Economics Majors

Sample Program -- Transfer Economics Majors
This program is based on successful completion and certification of
the Intersegmental General Education Transfer Curriculum (IGETC).

Graduate Program

Participating Faculty

Marigee Bacolod: Labor economics, economics of education, applied econometrics

Duran Bell: Models of social processes

Volodymyr Bilotkach: Industrial organization, regulation, and transportation economics

Dan Bogart: Macroeconomics, economic development

William A. Branch: Macroeconomics

David Brownstone: Econometrics and applied microeconomics

Jan K. Brueckner: Urban economics, public economics, industrial organization, and housing finance

Linda R. Cohen: Political economy, economics of science and innovation, law and economics

Michelle R. Garfinkel: Macroeconomics and political economy

Amihai Glazer: Political economy

Jun Ishii: Industrial organizations, regulated industries, applied econometrics

Ivan Jeliazkov: Econometrics, applied econometrics

Sheen T. Kassouf: The theory of stochastic speculative pricing

Igor Kopylov: Microeconomics, decision theory, game theory

Charles A. Lave: Transportation economics

R. Duncan Luce: Mathematical behavioral science; measurement theory, utility theory, response times

Julius Margolis: Political economy of national defense and government behavior

Michael McBride: Microeconomics, game theory, political economy

Martin C. McGuire: Public finance, international trade, economics of peace and security

Dale Poirier: Theoretical and empirical econometrics, Bayesian econometrics

Priya Ranjan: International economics, macroeconomics

Gary Richardson: Economic history, immigration, institutions, and economic development

Donald G. Saari: Social choice, voting theory, economic theory and mathematical economics

Sarah Senesky: Labor economics, applied microeconomics, econometrics

Stergios Skaperdas: Economic theory, political economy

Kenneth A. Small: Urban economics, transportation economics, discrete-choice econometrics

Justin L. Tobias: Econometrics, Bayesian econometrics, economics of education

Kurt Van Dender: Transportation economics

Christian Werner: Mathematical geography

Affiliated Faculty

Dennis J. Aigner: Statistical and econometric methodology, efficiency estimation

Marlon G. Boarnet: Urban economics, urban planning, urban economic development

Thomas C. Buchmueller: Economics of health care

Michael L. Burton: Economic anthropology, cognitive anthropology; kinship, gender, and households

Frank Cancian: Economic anthropology, comparative social inequality

Christopher S. Carpenter: Health economics and labor economics

Paul J. Feldstein: Health economics

Bernard Grofman: Mathematical models of decision making, electoral rules and reappointment

Mireille Jacobson: Health economics

Phillipe Jorion: International finance

Marek Kaminski: Public and social choice and political economy

Richard McKenzie: Public choice

Jean-Daniel Saphores: Environmental and natural resource economics and policy

Brian Skyrms: Game theory and decision making

Carole J. Uhlaner: Comparative political participation, formal models of political behavior

The Department of Economics offers a Ph.D. degree program in Economics. Drawing upon the School's strong quantitative tradition, it specializes in public choice, transportation economics, urban economics, econometrics, and applied microeconomics. Admission is highly selective and is limited to students whose interests mesh closely with those of the faculty. By requiring a high degree of overlap between faculty and student research interests, the program offers extensive faculty contact within a tutorial framework. Motivated and well-qualified students find the graduate program highly attractive because of its small size and its great flexibility. Self-discipline and an inquiring mind are prerequisites.

ADMISSION

The deadline for application for admission is January 15 for fall quarter. Students are admitted for winter or spring quarters only under exceptional circumstances. Late applications are considered on a space-available basis. All applicants must take the Graduate Record Exam (GRE) prior to the application deadline. Foreign applicants must also submit Test of English as a Foreign Language (TOEFL) scores. To be considered for any financial aid (including a teaching assistantship), students who are not citizens of countries where English is either the primary or dominant language as approved by the UCI Graduate Council must submit a passing score from the Test of Spoken English (TSE); for teaching assistantship consideration, such students must pass the TSE or the UCI SPEAK examination by the time they advance to candidacy.

REQUIREMENTS

All students must show competence in the core areas of microeconomics, macroeconomics, and econometrics. This is done by taking the three-quarter required course sequences in microeconomics and macroeconomics, and the four-quarter required course sequence in econometrics. All of these required courses must be passed with a grade of B or better. Students also must master two fields of applied economics by taking a two-course sequence (possibly including independent reading courses) and writing a research paper in each field. Students also must enroll for at least four quarters in the graduate colloquium, in which attendance at regular Economics faculty research colloquia is supplemented by discussion of the papers presented and additional reading. Students are encouraged to become conversant with areas of current economic research early in their graduate careers, in order to facilitate a timely transition from meeting course and field requirements to thinking through a dissertation research plan. After meeting the above requirements, the student will be advanced to candidacy upon completion of an oral examination on a written dissertation proposal. Students are expected to advance to candidacy by the end of their third year, and are expected to complete their dissertation by the end of their fifth year. The maximum time permitted for completion of the Ph.D. is six years.

Concentration in Transportation Economics

Students can also pursue a Ph.D. in Economics with a concentration in Transportation Economics. This option draws upon the transportation researchers on the campus within the School of Social Sciences, The Henry Samueli School of Engineering, The Paul Merage School of Business, and the School of Social Ecology. Students benefit from association with the Institute of Transportation Studies, which facilitates student research by providing research assistantships and interdisciplinary seminars on all modes of transportation.

Requirements for the concentration are the same as those described above with the following three exceptions: (1) instead of the third quarter of microeconomics and macroeconomics, students may substitute specified courses such as Discrete Choice Econometrics (Economics 223A), Advanced Travel Demand Analysis (Engineering CE220A), or Operations Research for Management (Management 201B); (2) one of the student's two required fields of competence must be transportation economics; the other must be a related field such as urban economics, labor economics, industrial organization, or a transportation-related field from outside economics (such as travel demand and flow theory, urban and transportation policy analysis, environmental impacts of transportation, or urban and transportation planning) subject to the approval of the Director of Graduate Studies for Economics; and (3) students must take at least one additional course from a list of designated courses in transportation and related subject areas.

Concentration in Public Choice

Students can also pursue a Ph.D. degree in Economics with a concentration in Public Choice. This is an interdisciplinary field, at the intersection of Economics and Political Science, which draws on quantitative tools to model the functioning of political institutions. Faculty from the Departments of Economics, Political Science, and Logic and Philosophy of Science and from The Paul Merage School of Business are involved in research that supports the concentration.

Students who elect this concentration are admitted under the normal procedures for the program in Economics and must fulfill all the requirements for the Economics degree with the following modifications: (1) one of the student's two required fields of competence must be public choice; included is a three-quarter core course in public choice, Economics 270A-B-C, which is jointly organized by faculty in the Departments of Economics and Political Science. (A background in economic theory equivalent to Economics H100A-B-C, Honors Intermediate Economic Theory, is a prerequisite to this sequence.) The requirement for competence in a second field may be met with a one-quarter course, instead of two, if it provides sufficient fluency in the field; and (2) students must obtain a background knowledge in political science equivalent to that provided by a one-year undergraduate survey course, if they do not already have it.

RESEARCH FACILITIES

UCI is a major research university with an excellent library, as well as special interlibrary loan arrangements with other University of California libraries. The School of Social Sciences provides a
computer laboratory. The Economics Department has a small library with current journals and unpublished working papers from other universities. Students also have access to advanced computing resources as well as PC and UNIX laboratories. Three Organized Research Units, the Institute of Transportation Studies, the Center for Research on Information Technology and Organizations, and the Institute for Mathematical Behavioral Sciences, provide research opportunities for graduate students.

Courses in Economics

NOTE: Students are reminded that each quarter of a sequential course (i.e., Economics 100A-B-C) must be taken in order. Priority for admission to upper-division Economics courses is given to Economics majors and International Studies majors.

LOWER-DIVISION

1 Introduction to Economics (4) F, W, S. An analysis of the problems society faces in organizing itself to provide goods and services. How decisions of government, business, and the individual relate to current economic problems such as unemployment, inflation, poverty, and environmental pollution. Open only to non-Economics majors. Credit will not be given for Economics 1 if taken concurrently or after Economics 20A-B-C. (III)

13 Global Economy (4) S. Acquaints students with the fundamental patterns of the global economy. Emphasizes the historical roots and political implications of economic choices. Same as International Studies 13. (VII-B)

20A-B Basic Economics I, II (4-4) F, W. The fundamentals of economics: microeconomics and macroeconomics. The behavior of firms and of consumers: markets, supply/demand, utility maximization, resource allocation, and efficiency. Government behavior: monetary and fiscal policy, inflation, and unemployment. (III)

20C Basic Economics III (4) S. Same description as Economics 20A-B. (III)

UPPER-DIVISION

100-119: GENERAL ECONOMICS

100A-B-C Intermediate Economics I, II, III (4-4-4) F, W, S. Determinants of supply and demand; operation of competitive and monopolistic markets; imperfections of the market system, explanations of unemployment, inflation, recessions; public policy for macroeconomic problems. Prerequisites: Economics 20A-B-C and Mathematics 2A-B and completion of or concurrent enrollment in Mathematics 4. For 100B: Economics 100A. For 100C: Economics 100B.

H100A-B-C Honors Intermediate Economics I, II, III (4-4-4) F, W, S. An advanced and mathematical version of Economics 100A-B-C for students in the Honors Program. Prerequisites: Economics 20A-B-C and Mathematics 2A-B and 4.

101A-B Advanced Macro- or Microeconomics (4-4). 101A: Consumption and investment theories. Theories of money demand and supply. 101B: A presentation of the theory of production and distribution, relying heavily upon formal mathematical models. Prerequisites: Economics 100A-B-C and Mathematics 2A-B and 4.

102A The Economics of Accounting Principles (4). Introduction to accounting concepts and principles, including the accounting model and accounting cycle, transaction analysis, and the preparation of financial statements. An analysis of the similarities and differences between accounting and economic concepts (e.g., value, profits). Prerequisites: Economics 20A-B-C.

104A History of Economic Thought (4). Discussion of the principal schools of economic thought. Emphasis on ideas expressed by Smith, Malthus, Ricardo, Marx, Jevons, J.B. Clark, Bohm-Bawerk, Wicksell, Marshall, and Keynes. Assignments include readings (in English) of important selections from the original works. Prerequisite: Economics 20A-B-C.

109 Special Topics in Economic Theory (4). Prerequisites vary. May be repeated for credit as topic varies.

110A-B-C Probability and Statistics in Economics I, II, III (4-4-4) F, W, S. An introduction to probability statistics and econometrics. Emphasis on a thorough understanding of the probabilistic basis of statistical inference. Examples from economics. Prerequisites: Mathematics 2A-B and 4.

120-124: QUANTITATIVE METHODS

121A-B Data Analysis I, II (4-4). Practical applications-oriented course on multiple regression. How to discover and explore general socioeconomic models in data. Prerequisites: Economics 110A-B-C or equivalent.

121C Data Analysis-Writing (4). Advanced regression analysis. Covers practical techniques for solving model-building problems. Strong emphasis on learning clear, effective writing. Prerequisite: Economics 121B or 123B.

123A-B-C Econometrics I, II, III (4-4-4) F, W, S. 123A-B: Specification, estimation, and testing of econometric models. Applications in various areas of microeconomics and macroeconomics. 123C: Seminar course in which students do an original econometric research project. Prerequisites: Mathematics 2A-B and 4 or equivalent; Statistics 120A-B-C and Economics 100A-B-C. For 123C: satisfactory completion of the lower-division writing requirement.

124A Time Series Analysis (4). Introduction to the basic techniques of time series analysis. Univariate time series models and forecasting. Multivariate models. Transfer function models. Relations between time series models and econometric models. Prerequisite: Economics 123A.

129 Special Topics in Quantitative Methods (4). Prerequisites vary. May be repeated for credit as topic varies.

130-139: FINANCIAL ECONOMICS

The Economics of Risk and Uncertainty (4). The theory of insurance and joint-ownership of risky enterprises; optimal procedures for the allocation of uncertain payoffs. Prerequisites: Economics 100A-B; prior or concurrent enrollment in Economics 110A-B-C or equivalent.

132A Portfolio Selection and Capital Market Theory (4). Optimal design of portfolios based upon mean-variance characteristics. An examination of the efficiency of present-day capital markets. Prerequisites: Economics 10A-B and 30, or equivalent courses; Economics 100A-B-C.

134A Corporate Finance (4). Provides an overview of the modern theory and practice of corporate finance and focuses on two fundamental financial decisions; investment as well as financing. Prerequisite: Economics 100A-B-C.

135 Mathematics of Finance (4). Introduces the mathematics of finance with an emphasis on financial derivatives. After a review of certain tools from probability, statistics, and elementary differential and partial differential equations, concepts such as hedging, arbitrage, Puts, Calls, and the design of portfolios are discussed. Prerequisites: Mathematics 2A-B-J. Same as Mathematics 176.

139 Special Topics in Financial Economics (4). Prerequisites vary. May be repeated for credit as topic varies.

140-149: ECONOMICS OF PUBLIC AND PRIVATE ORGANIZATIONS

141A-B-C Economic Analysis of Government Behavior I, II, III (4-4-4). The study of government using the tools of economics. 141A: The influence of voters' preference on governmental policy; Arrow's impossibility theory; the Downsian theory of voting. 141B: The effects of various taxation and expenditure policies, such as social security. 141C: Research course in which students write a paper testing one of the theories covered in the first two quarters of the sequence. Prerequisite: Economics 100A-B. Same as Political Science 127A-B-C. Economics 141B also same as Environmental Analysis and Design E158U.

142A-B-C Industrial Organization I, II, III (4-4-4) F, W, S. 142A: The theory of market structure. Imperfect markets, government policies, and industry performance. 142B: Regulation and antitrust theory and performance in industries. 142C: Research in industrial organization. Prerequisites: Economics 100A-B; prior or concurrent enrollment in Economics 110A-B-C or equivalent. For 142C: satisfactory completion of the lower-division writing requirement.

144A-B-C Urban Economics I, II, III (4-4-4). 144A: Focus on spatial impact of economic process within urban areas. 144B: Emphasizes economic theory and the assessment of the urban problem including housing, transportation, environmental quality, and public finance. 144C: Allows students to apply knowledge of urban and transportation economics in the conduct of individual research. Prerequisites: Economics 20A-B-C; Economics 110A-B-C or equivalent. For 144C: satisfactory completion of the lower-division writing requirement.

144T Mathematical Analysis of Transportation Networks (4). Models of transportation demand; optimal utilization of transportation networks; cost-benefit analysis of network design projects; the economic impact of transportation networks. Prerequisites: Economics 20A-B-C. Same as Social Science 118A.

145E Economics of the Environment (4). Surveys economic aspects of natural resources, pollution, population, and the environment. Examines the causes of pollution, e.g., air, water, noise, toxic waste, and nonoptimal utilization of certain resources, e.g., fisheries; analysis of public polices regarding these problems. Emphasis on microeconomic aspects of environmental problems. Prerequisites: prior or concurrent enrollment in Economics 10A-B and 30, or equivalent courses; Economics 100A-B.

145F Economics of the Environment II (4). Applications of the tools covered in Economics 145E to such topics as global warming, destruction of the ozone layer, and emissions trading. Emphasis on independent research papers. Syllabus and classes include writing technique. Prerequisites: Economics 110A-B-C or equivalent, 145E, and satisfactory completion of the lower-division writing requirement.

145L Economics of Law (4). Examination of several economic concepts which are useful in understanding legal rules: externalities, the assignment of property rights, and Coase's theorem. Examples are drawn from the fields of pollution control, no-fault insurance, medical malpractice, and product liability. Prerequisites: Economics 100A-B or concurrent enrollment in Economics 100B.

146 Public Policy Issues (4). An examination and interpretation of the
public policy areas such as schooling, housing and homelessness, occupational licensing, F.D.A. drug approval, credit bureaus, the U.S. Postal Service, and auto emissions. Prerequisites: Economics 100A-B-C; Economics 110A-B-C or equivalent; satisfactory completion of the lower-division writing requirement.

148A-B Political Economy of National Defense I, II (4-4). 148A: Analysis of the adoption of military solutions to international problems; military budgets, weapons policy, and procurement; distribution of benefits and costs of military systems. Emphasis given to nuclear military policy. Focuses on empirical and descriptive works on policy and practice. 148B: Research seminar. Research paper required. Prerequisites: Economics 20A-B-C.

148I-J-K Political Economy of International Relations I, II, III (4-4-4). 148I-J: Migration, trade, and finance in competitive markets; bargaining and compacts; hegemony and imperialism; alliances; multinational firms; international institutions; international law; war and national boundaries; common markets; nationalism; super power conflicts. 148K: Research seminar. Prerequisites: prior or concurrent enrollment in Economics 10A-B and 30, or equivalent courses; Economics 20A-B-C.

149 Special Topics in Economics of Public and Private Organizations (4). Prerequisites vary. May be repeated for credit as topic varies.

150-159: HUMAN RESOURCES

151A-B-C Labor Economics and Human Resources I, II, III (4-4-4) F, W S. Analysis of wage determination and the role of labor in production. 151A: Develops, extends, and applies basic supply/demand analysis. 151B: Labor market discrimination. 151C: Original research by students. Prerequisites: Mathematics 2A-B and 4; Economics 100A-B-C; Economics 110A-B-C or equivalent courses. For 151C: satisfactory completion of the lower-division writing requirement.

152A Economic Anthropology (4). Economic systems in comparative perspective: production, distribution, and consumption in market and non-market societies; agricultural development in the third world. Prerequisite: one course in general science, anthropology, economics, geography, or sociology. Same as Anthropology 125A. (VII-B)

152M Marriage and Bridewealth (4). The rules by which children are positioned within a social system and by which men claim rights over women vary widely among societies. Analyzes these rules on the basis of a formal theory of wealth allocations between and among corporate groups that challenge neoclassical models. Prerequisites: Anthropology 2A and Economics 20A-B-C, or consent of instructor. Same as Anthropology 126G.

152P-Q Evolution of Social Formations I, II (4-4). 152P: Models and ethnographic descriptions of noncommodity economic relationships of the form that characterize intergroup and intragroup economic processes of many tribal societies. Includes analyses of gift exchange and resource allocation within the household. 152Q: Devoted entirely to supervised research by class members. Prerequisites: Economics 20 A-B-C; Economics 152A or Anthropology 125A recommended. Prerequisite for 152Q: satisfactory completion of the lower-division writing requirement. Same as Anthropology 125P-Q. (VII-B)

155A Economics of the Family (4). Students write and rewrite papers on topics that are suggested by the models and literature in the "economics of the family." Prerequisites: Economics 100A-B-C; Economics 110A-B-C or equivalent; satisfactory completion of the lower-division writing requirement. Economics 151A-B-C desirable.

159 Special Topics in Economics in Human Resources (4). Prerequisites vary. May be repeated for credit as topic varies.

160-169: MACROECONOMICS

161A Money and Banking (4). Basic elements of money and banking: institutional features and economics of financial markets and, in particular, of the U.S. banking system; determinants of interest rates; the Federal Reserve and its role in the money supply process; effects of money on output and inflation. Prerequisites: Economics 100A-B-C or 100A-B and concurrent enrollment in 100C.

161B International Money (4). Open economy macroeconomics and determination of exchange rates. Asset-market approach to the balance of payments. Internal and external balance in the economy. Macroeconomic policies under fixed and floating exchange rates. The international monetary system and institutions. Prerequisites: Economics 100A-B-C or 100A-B and concurrent enrollment in 100C.

161C International Trade and Commercial Policy (4). Determination of trade flows and the relative prices. Gains from trade, the terms of trade, and income distribution. Imperfect competition and international trade. The effect of tariffs, export subsidies, and import quotas. The effects of free and restricted trade on economic welfare. Prerequisites: Economics 100A-B or 100A and concurrent enrollment in 100B; Economics 110A-B-C or equivalent.

161D Advanced Money and Banking (4). What happened in the Great Depression and why? Could it happen again? What is the transmission mechanism? What do economists know about the money supply process? What is the evidence on the demand for money? What are the more important current issues for monetary policy? Prerequisite: Economics 161A.

162A The Japanese Economy (4). An analysis of the structure and performance of the Japanese economy in the post-World War II period. The mechanism and policies of rapid growth. Japan's industrial structure, labor market, and financial system. United States-Japanese trade friction and policy issues. Prerequisites: Economics 100A-B-C; Economics 110A-B-C or equivalent.

163 Communism in Russia and China (4). Examines the politics, economics, and history of revolutionary Marxism during the twentieth century. Begins by discussing the theoretical foundation of communism and then contrasting those theories with the actual institutions established in communist nations and with socialist, capitalist, and democratic systems. Prerequisites: Economics 20A-B-C.

164A The Industrial Revolution in Western Europe (4). How do economists explain the process of economic development during the past three centuries? How has the process of industrialization affected living standards? In focusing on these questions, students learn how to apply economic theory and quantitative methods to the study of historical issues. Prerequisites: Economics 100A-B-C; satisfactory completion of the lower-division writing requirement.

164B The Industrial Revolution in the United States (4). How do economists explain the process of economic development during the past three centuries? How has the process of industrialization affected living standards? In focusing on these questions, students learn how to apply economic theory and quantitative methods to the study of historical issues. Prerequisites: Economics 100A-B-C; satisfactory completion of the lower-division writing requirement.

169 Special Topics in Development Economics (4). Prerequisites vary. May be repeated for credit as topic varies.

GRADUATE

200A-B-C Graduate Colloquium for Economics I, II, III (2-2-2) F, W, S. Weekly reports and colloquia by faculty, students, and visitors. Supplemented by class discussion of these presentations and other material on current research methodology. Prerequisite: admission to graduate program in Economics or consent of instructor. May be repeated for credit.

201A-B-C Graduate Student Prospectus Seminar (4-4-4). Graduate students present their dissertation prospectus and job market papers to other graduate students and faculty. All graduate students on the job market must enroll and present their job market papers, and all third-year graduate students are strongly encouraged to enroll. Prerequisite: graduate standing. May be repeated for credit.

203A Mathematics for Economists (4). Gives students the mathematical background required for graduate work in economics. Topics covered include multivariate calculus, differential equations, and linear algebra. Prerequisite: graduate standing or consent of instructor.

210-219: GRADUATE ECONOMIC THEORY

210A-B-C Microeconomic Theory I, II, III (4-4-4) W, S. Theoretical microeconomics. Emphasis on the meaning and empirical interpretation of theoretical models. Topics include theory of the firm, theory of the market, theory of the consumer, duality theory, application to econometrics, general equilibrium and welfare economics, uncertainty, game theory. Prerequisite: graduate standing or consent of instructor.

210D-E-F Macroeconomic Theory I, II, III (4-4-4) F, W, S. Advanced macroeconomic theory including alternative macroeconomic models, microeconomic foundations of macroeconomics, investment and growth theory, inflation and unemployment, rational expectations and macroeconomic policy, wealth effects, crowding out and fiscal policy, money and interest, open economy models.

219A-Z Special Topics in Economic Theory (4) F, W, S. Prerequisites vary. May be repeated for credit.

220-229: QUANTITATIVE METHODS

220A-B-C-D Statistics and Econometrics I, II, III, IV (4-4-4-4). 220A: Covers probability mathematical statistics necessary to prepare students for econometric study and empirical work. Topics include probability theory, distributions, sampling, and classical point estimation. A likelihood perspective is emphasized. 220B: Begins with Bayesian point estimation. Then covers interval estimation and hypothesis testing from both classical and Bayesian perspectives, followed by a general discussion of prediction. Finally, all these techniques are applied to the standard linear regression model under ideal conditions. 220C: Begins by relaxing the ideal conditions of the standard regression model. Topics include kernel density estimation, Generalized Least Squares (GLS), instrumental variables (IV), two stage least squares (2SLS), panel data models, and simulation-based Bayesian methods, including Gibbs sampling. 220D: Begins by reviewing estimation theory and the bootstrap. Topics include econometric time series, discrete choice and count models, sample selection, and duration models. Covers both Bayesian and classical asymptotic methods.

221A-B-C-D Statistics and Econometrics Laboratory I, II, III, IV (2-2-2-4). 221A-B-C: Discussion of problems in statistics and econometrics and their relationship to statistical and econometric theory. Instruction in the use of computers for applied econometric work. 221D: Before the course begins, students choose a published empirical economics article and obtain the necessary data to replicate it. Then, students replicate and extend the economic analysis and write a paper describing their work. Satisfies econometrics requirement for the Ph.D. in Economics. Corequisites: Economics 220A-B-C-D.

223A Discrete Choice Econometrics (4). Specification, estimation, and testing of discrete choice models, with emphasis on cross-section application. Qualitative choice, limited dependent variables, sample selection bias, and latent variables. Students use computer packages to apply models to real data. Prerequisites: Economics 220A-B-C-D.

224A Time Series Econometrics (4). Econometric analysis of time series data. Moving average and autoregressive series, regression analysis, Box-Jenkins techniques, computational methods, and causality conditions. Prerequisites: Economics 220A-B-C-D.

229A-Z Special Topics in Quantitative Methods (4). Prerequisites vary. May be repeated for credit as topics vary.

239: FINANCIAL ECONOMICS

239A-Z Special Topics in Financial Economics (4). Prerequisites vary. May be repeated for credit as topics vary.

240-249: MICROECONOMICS

241A-B Industrial Organization I, II (4-4). Analysis of the structure and economic performance of markets, and the impact of public policy and their efficiency and equity. Effects of information structure. 241A: Oligopoly, cartels, mergers, vertical integration, patents, innovation, antitrust, and regulation; 241B: price flexibility and dispersion, auctions, search and industrial structure, intrafirm organization. Prerequisites: Economics 100B and 203A.

243A Game Theory (4). A formal introduction to noncooperative game theory. Topics include properties of Nash Equilibrium and equilibrium refinements, dynamic games, repeated games, games with imperfect information, and games with incomplete information. Prerequisites: Economics 201A-B-C; graduate standing or consent of instructor.

243B Advanced Game Theory (4). Provides advanced instruction and research opportunities in game theory for students interested in using game theory in their research. Prerequisites: Economics 243A and consent of instructor.

249A-Z Special Topics in Microeconomics (4). May be repeated for credit as topics vary.

250-259: HUMAN RESOURCES

251A-B Labor Economics I, II (4-4). Analytic and empirical study of labor markets. Topics include labor supply and demand, human capital, educational sorting, life-time earnings profiles, discrimination, unemployment, unions; several econometric techniques including combined time-series and cross-sections, sample selection bias, and switching regressions are taught as needed. Prerequisites: Economics 100B and 203A.

259A-Z Special Topics in Human Resources (4). Prerequisites vary. May be repeated for credit as topics vary.

260-269: MACROECONOMICS

261A-B International Trade I, II (4-4). Covers theoretical models, empirical methods, and policy issues in international trade. Following the conventional treatment of the Ricardian model, the Heckscher-Ohlin model, and the specific factors model; new trade models which incorporate scale economies and imperfect competition are discussed. Prerequisite: Economics 210A-B.

269A-Z Special Topics in Macroeconomics (4). Prerequisites vary. May be repeated for credit as topics vary.

270-279: PUBLIC CHOICE

270A-B-C Seminar in Public Choice I, II, III (4-4-4). Public choice lies at the intersection of economics and political science. This course involves the use of tools derived from economics to understand the behavior of governments and of citizens when they deal with politics. Prerequisite: graduate standing and Social Science 111H. Same as Political Science 270A-B-C.

279A-Z Special Topics in Public Choice (4). Prerequisites vary. May be repeated for credit as topics vary.

280-289: URBAN AND TRANSPORTATION ECONOMICS

281A-B Urban Economics I, II (4-4). Theoretical and empirical analysis of the economic functioning of urban areas. Urban economic development, location of firms and households, housing markets, urban public finance. Econometric estimation of hedonic price functions for housing. Prerequisites: Economics 100B and 203A or equivalent.

282A-B Transportation Economics I, II (4-4). 282A: Applies microeconomic concepts of demand, costs, pricing, investment, and project evaluation to analyze transportation activities. Empirical studies include travel demand using discrete models, and cost functions. 282B: Policy analysis in the presence of road transport externalities (such as environmental spill-overs), imperfect instruments, and other economic distortions such as imperfectly priced networks and imperfect competition. Connections of transportation economics with environmental economics, public finance, spatial economics and industrial organization.

285A-B-C Colloquium for Transportation Science I, II, III (2-2-2). Selected perspectives on transportation based on the study of human behavior. Organized by Interdisciplinary Program in Transportation Science. Research presentations by faculty, students, and visitors supplemented by class discussion. Satisfactory/Unsatisfactory only. Prerequisite: graduate standing or consent of instructor. May be repeated for credit as topics vary.

289A-Z Special Topics in Urban and Transportation Economics (4). Prerequisites vary. May be repeated for credit as topics vary.

290-299: SPECIAL COURSES

290 Dissertation Research (4 to 12). Prerequisite: consent of instructor. May be repeated for credit.

299 Independent Study (4). May be repeated for credit.