Graduate Department of Economics
College of Social Sciences and Public Policy
Website: https://coss.fsu.edu/economics
Chair: Joseph Calhoun; Professors: Atolia, Cooper, Holcombe, Ihlanfeldt, Isaac, Kantor, Mason, S. Norrbin, Ryvkin, Schmertmann, Semykina; Associate Professors: Beaumont, Boosey, Cano Urbina, Gentry, Hamman, Kitchens, Krishna, Pevnitskaya; Assistant Professors: Cheng, Gagnon-Bartsch, Kim, Kreamer, Rodgers, Tuncel, Yang; Teaching Professors: Calhoun, Lee, O. Norrbin, Sherron; Associate Teaching Professors: Ardakani, Hammock; Assistant Teaching Professors: Andrei, Norton;
Courtesy and Adjunct Professors: Bergan, Grober, Leverette, Stratis; Professors Emeriti: Benson, Canterbery, Cobbe, Downing, Fournier, Gwartney, Laird, Macesich, Marquis, McCaleb, Rasmussen, Rockwood, Schlagenhauf
The Department of Economics offers programs leading to the Master of Science (MS) in Applied Economics, the Master of Science (MS) in Economics, and Doctor of Philosophy (PhD) in Economics degrees.
The department has a history of emphasizing research and publication. Department graduates have found a ready market in academe, in government at all levels, and in business. The department offers students an opportunity to specialize in ten different fields, in addition to core areas of study. At least two professors have expertise in any given field of specialization. These factors, along with a highly favorable student-faculty ratio, permit much personal interaction between students and professors and allow for considerable flexibility in the program of study a student might choose.
In addition to listed fields of study, the department offers students the opportunity for interdisciplinary work. A variety of interdisciplinary programs is available, including demography, gerontology, economics of education, law and economics, urban economics, and economic policy and government. Specialties in other fields outside the department, particularly statistics, finance, and other areas in the social sciences, are also available.
A detailed description of graduate work in economics appears in the Guide for Graduate Students in Economics. The Guide may be obtained by visiting the department Web page at https://coss.fsu.edu/economics.
Admission Requirements
The Department of Economics accepts applications for two programs: Master of Science (MS) in Applied Economics and Doctor of Philosophy (PhD) in Economics. Both programs begin in the Fall semester. The Master of Science (MS) in Economics degree is only available to students admitted to the Department of Economics at the PhD level.
A score of at least 148 on the verbal aptitude portion and 148 (MS) or 151 (PhD) on the quantitative aptitude portion of the Graduate Record Examination (GRE) and an upper division undergraduate grade point average of at least 3.0 are required for admission. Prior graduate training must show a minimum grade point average of 3.4.
Applicants should provide the department with official transcripts from all prior institutions, a statement of purpose, a résumé or curriculum vitae, and at least two (MS) or three (PhD) letters of recommendation addressing the applicant's potential for graduate study. Academic recommendations are preferred.
International applicants whose native tongue is not English must achieve a minimum score of:
- 90 on the IBT Test of English as a Foreign Language (TOEFL);
- 6.5 on International English Language Testing System (IELTS);
- 55 on Pearson Test of English (PTE);
- 120 with Duolingo;
- 180 Cambridge C1 Advanced Level; or
- 55 on Michigan Language Assessment.
With the approval of the University Office of Graduate Admissions, an exception to this rule can be made for those who have a degree from an English-speaking country.
Applied MS applicants are required to complete Principles of Macroeconomics and Microeconomics, one semester of calculus, and one semester of statistics prior to starting the program. In addition, applicants need to have sufficient upper-level economics courses to demonstrate a thorough understanding of economics. Such an understanding is best demonstrated by doing well in Intermediate Microeconomics, Intermediate Macroeconomics, and Econometrics. PhD applicants are required to complete all the aforementioned courses prior to starting the program, as well as a second semester of calculus and one semester of linear algebra.
All new PhD students should arrive on campus four to five weeks prior to beginning of the Fall term for mandatory math review.
Application Deadlines
Completed admission applications for U.S. citizens should be submitted no later than two months prior to the Fall term; foreign nationals should apply no less than three months ahead. All application materials are to be submitted via the online application (https://admissions.fsu.edu/apply); no hard copies of documentation will be accepted by the department. It is recommended that those interested in being considered for a departmental research or teaching assistantship have a completed application on file with the Department of Economics by February 15 for fall entry into the graduate program.
Departmental Teaching and Research Assistantships
Departmental funding is awarded competitively, not only to provide financial assistance but also to afford outstanding students a structured experience in teaching and research. All applicants are considered for departmental funding and the strongest applicants may be nominated for University fellowships. Students can expect departmental funding to continue for up to four years (although it is awarded on a year-by-year basis), assuming timely progression on degree requirements, success in the academic program, adequate funding allocations to the department, and satisfactory performance of assistantship duties. Graduate assistants with qualifying appointments will receive a salary and a tuition waiver.
Master of Science (MS) Degree Programs
At Florida State, students can choose one of two paths to earn a master's degree in Economics.
- The first path requires completion of either the thesis option or an applied project option. The specifics of these options are outlined in the Master of Science in Applied Economics section following immediately below.
- The second path requires completion of the first one-and-half-years of the PhD program.
Master of Science (MS) in Applied Economics
The Applied MS program at FSU is designed so that it is a self-contained program giving the successful student valuable skills as an applied economist. Graduates with such skills are in demand by both the public and private sectors. This is intended to be terminal degree and not preparation for entry into a doctoral program.
To satisfy the requirements for the Applied Master's degree, a student must complete the four core courses, an additional two or three elective courses (depending on whether the thesis or applied project option is chosen), and the thesis or applied project itself. The elective courses should be graduate-level economics courses. Students may substitute graduate courses offered by other departments, provided they can demonstrate the relevance of the coursework to their program of study, and provided they obtain prior approval from the Director of the master's program. The program can be completed in a calendar year if the student takes a course load of ten hours in the fall, 11 hours in the spring and nine hours in the summer.
To earn the Master of Science in Applied Economics, students are required to take four courses (12 semester hours)—two in microeconomics and two in econometrics. The typical schedule is:
Fall
ECO 5114 Applied Microeconomics I
ECO 5420 Applied Econometrics
Spring
ECO 5117 Applied Microeconomics II
ECO 5434 Analysis of Economic Data
These four core courses must be completed with a minimum GPA of 3.0. If a student must retake one or more of these courses to satisfy the minimum core GPA requirement, the department will use the higher of the grades earned in the two attempts when making its GPA calculations. Note, however, that both grades will appear on the official transcript, and the university follows different procedures when calculating its aggregate GPA. Consult the graduate bulletin for details.
Students with a sufficient background in econometrics and statistics may substitute the doctoral core sequence in econometrics (ECO 5416 and ECO 5423) for the MS sequence with the prior approval of the Graduate Director.
Students must also satisfy a complementary courses and research component in one of two ways:
Option 1
The student completes at least 12 hours of graduate-level course work beyond the required courses, in addition to which a thesis is written, for which at least six hours of ECO 5971 credit are granted. The thesis committee consists of a major supervisory-professor and two other members of the Economics department (or, if appropriate, one other department member and one "outside" professor), subject to the approval of the Director of the master's program. An oral defense of the thesis is required (ECO 8976), where all members of the Economics department are invited to attend. Option 1 requires a minimum of 30 semester hours of graduate credit, including the required courses.
Option 2
The student completes at least 12 hours of graduate-level course work beyond the required courses, in addition to which an applied project is completed, for which six hours of ECO 5973 credit are granted. The course work typically involves two electives (nine hours) and two semesters of professional development seminar (two hours). Completion of the applied project involves registration and attendance of ECO 5973 during the first and second summer semesters. During this sequence, the student will select, write, and present an applied project. Option 2 requires a minimum of 30 semester hours of graduate credit, including the required courses.
Master of Science (MS) in Economics Degree
The traditional Master of Science in Economics is typically chosen by current FSU doctoral students in Economics, or by students who plan to enter a doctoral program at some point in the future. The thesis and applied project options are not available with this degree.
The requirements of the traditional master's degree are:
- Completion with a minimum GPA of 3.0 of the core courses in microeconomics (ECO 5115 and ECO 5116), macroeconomics (ECO 5204 and ECO 5207), and econometrics (ECO 5416 and 5423), and completion of mathematical methods (ECO 5405). These seven core courses must be completed with a minimum GPA of 3.0
- At least nine additional credit hours of elective coursework. The elective courses require prior approval from the Director of Graduate Studies. Supervised research (ECO 5914), supervised teaching (ECO 5940), and workshops do not count toward the required elective hours.
If a student must retake one or more of these courses to satisfy the core GPA requirement, the department will use the higher of the grades earned in the two attempts when making its GPA calculations. Note, however, that both grades will appear on the official transcript, and the university will follow different procedures when calculating its aggregate GPA. Consult the graduate bulletin for details.
Students pursuing a dual-degree program that requires one or more of the core doctoral courses will need to complete all requirements for the traditional master's degree, but they must also create a plan with the Director of Graduate Studies that ensures at least 30 acceptable credit hours that do not overlap with the second program.
Normal Progress. To maintain normal progress, a student must maintain an aggregate 3.0 GPA and complete all degree requirements within four semesters of first enrolling.
Graduation. Graduation is not automatic; students must apply to the Registrar for graduation during the first two weeks of the semester they expect to graduate.
Time Limit. All work for the master's degree must be completed within seven years from the time that a student first registers for graduate credit.
Transfer Credit. Transfer of courses not counted toward a previous degree from another regionally accredited graduate school is limited to six semester hours and transfer of courses not counted toward a previous degree within Florida State University is limited to 12 semester hours, except when the departmental course requirement exceeds the 30 hour university-wide minimum requirement. In the latter case, additional transfer credit may be allowed to the extent of the additional required hours. In all cases, most of the credit must be earned through Florida State University or its official consortia institutions. All transfer credit must: l) be recommended by the major department; 2) be evaluated as graduate work by the evaluation section of the Office of Admissions of Florida State University; and 3) have been completed with grades of 3.0 ("B") or better.
Grades earned at another institution cannot be used to improve a grade point average or eliminate a quality point deficiency at Florida State University.
The University does not accept experiential learning, or award credit for experiential learning. Transfer credit based on experiential learning from another institution will not be accepted.
The Department offers two to four workshops (ECO 6938) each semester, in which advanced research topics are critically reviewed. Participants in these workshops attend seminar sessions, prepare formal discussion comments, and present ongoing research. Participation in at least one workshop every Fall and Spring semester, graded on an S/U basis and generally taken for zero credit hours, is a requirement of the PhD program.
A doctoral student must complete 54 semester hours of graduate coursework, including instruction in fundamental quantitative techniques, and may obtain the traditional master's degree in route to the PhD. No more than six of the required 54 hours may be directed individual study (ECO 5906 or ECO 5907) or graduate tutorial coursework (ECO 5932). The 54 semester hours consists of 27 hours from the Economic Theory core, 12 hours from the major and minor fields, and 15 hours of electives approved by the Graduate Director. After passing core examinations and successfully defending a dissertation prospectus (ECO 8969), students may be admitted to doctoral candidacy with the approval of the Department Chair.
In consultation with the faculty and graduate student advisor, students are expected to design a program that provides the preparation necessary for the PhD core examinations and for the analysis required in dissertation work. The dissertation entails a minimum of 24 hours of credit (ECO 6980), is written under faculty supervision, and must be orally defended (ECO 8985) in accordance with the deadlines and regulations of The Graduate School. University regulations require that all committee members and the student must attend the entire defense in real time, either by being physically present or participating via distance technology. The department abides by university regulations and does not impose any further restrictions.
The Department offers between two and four workshops (ECO 6938) each semester in which advanced research topics are critically reviewed. Participants in these workshops attend seminar sessions, prepare formal discussion comments, and present ongoing research. Participation in at least one workshop every Fall and Spring semester, graded on an S/U basis and generally taken for zero credit hours, is a requirement of the PhD program.
A doctoral student must complete 54 semester hours of graduate coursework, including instruction in fundamental quantitative techniques, and may obtain the traditional master's degree en route. No more than six of the required 54 hours may be directed individual study (ECO 5906 or ECO 5907) or graduate tutorial coursework (ECO 5932). The 54 semester hours consists of 27 hours from the Economic Theory core, 12 hours from the major and minor fields, and 15 hours of electives approved by the Graduate Director. After passing core examinations and successfully defending a dissertation prospectus (ECO 8969), students may be admitted to doctoral candidacy with the approval of the Department Chair.
In consultation with the faculty and graduate student advisor, students are expected to design a program that provides the preparation necessary for the PhD core examinations and for the analysis required in dissertation work. The dissertation entails a minimum of 24 hours of credit (ECO 6980), is written under faculty supervision, and must be orally defended (ECO 8985) in accordance with the deadlines and regulations of The Graduate School. University regulations require that all committee members and the student must attend the entire defense in real time, either by being physically present or participating via distance technology. The department abides by University regulations and does not impose any further restrictions.
Definition of Prefixes
ECO—Economics
ECP—Economic Problems and Policy
ECS—Economic Systems and Development
Graduate Courses
Note: The department offers some graduate courses that are normally not taken by graduate students pursuing degrees in economics, but which are intended mainly for students in other programs in the College of Social Sciences and Public Policy, such as international affairs, or in other colleges of the University. These courses include ECO 5005, 5403, 5413, 5707, 5715, ECP 5536 and 5538. (These courses may not be used to meet requirements for a graduate degree in economics.) Where ECO 2013 and 2023 are listed as prerequisites for those courses, ECO 5005 may be substituted for ECO 2013 and 2023.
ECO 5005. Economic Principles for International Affairs (3). This course serves as an introduction to economics for graduate students in majors other than economics. Covers material in ECO 2013 and ECO 2023 in one semester. Intended for international affairs graduate students and similar.
ECO 5056. Decision Making Under Risk and Uncertainty (3). This course is an introduction to the theory of economic decision-making under risk and uncertainty. Emphasis is placed on developing and applying alternative theories of decision-making to insurance markets, financial markets, and the negotiation of contracts.
ECO 5114. Applied Microeconomics I (3). This is a beginning graduate-level course in microeconomic analysis. The course is designed to prepare students for subsequent work in microeconomic analysis and in applied microeconomics courses such as public finance, industrial organization, and labor economics.
ECO 5115. Product Markets and the Theory of the Firm (3). This course examines consumer choice, demand theory, production theory, costs, market supply, theory of the business firm, and allocation under the competitive market structure. Undergraduate price theory is a prerequisite.
ECO 5116. Imperfect Competition, Factor Markets, and Income Distribution (3). Prerequisite: ECO 5115 or instructor permission. This course covers topics such as monopoly, oligopoly monopolistic competition, derived demand and theory of factor markets, general equilibrium analysis, welfare economics, interdependencies, income distribution, and public choice theory.
ECO 5117. Applied Microeconomics II (3). Prerequisite: ECO 5114. This course explores such topics in applied microeconomics as demand estimation, hedonic models, cost functions, cost- benefit analysis, tax incidence, event studies, selection bias, and earnings equations. A student project is required.
ECO 5133. Markets and Auctions (3). This course familiarizes students with relevant topics, literature, and research techniques in the field of experimental economics.
ECO 5134. Applied Market Design (3). Prerequisite: ECO 5114. This course explores the theory and practice of market design. Particular emphasis is placed on understanding how the rules and institutional features of different market-based mechanisms can be engineered to solve resource allocation problems. The course focuses on applications of two-sided matching markets, single-unit and multi-unit auctions, and markets for transferable permits.
ECO 5204. Macroeconomic Theory I (3). This course introduces the basic tools in macroeconomic theory.
ECO 5206. Macroeconomic Theory, Practice, and Policy (3). This course investigates aggregate production functions and productivity, and provides an introduction to dynamic macro systems.
ECO 5207. Macroeconomic Theory II (3). Prerequisite: ECO 5204 or instructor permission. This course explores further macro dynamics, the quantity theory, determinants of the demand for and supply of money, and money models.
ECO 5281. Financial Economics I (3). This course is intended to provide a comprehensive introduction to the field of financial economics. The class focuses on static and dynamic consumption based on asset pricing models and a few elementary applications. The class is designed to set up the framework for models with production, financial institutions and monetary policy issues, which is the basis for more advanced work.
ECO 5282. Financial Economics II (3). This course focuses on three broad areas: production-based asset pricing theory and corporate finance; financial intermediation; and monetary theory and policy. Particular emphasis is placed on the economic role played by commercial banks in private information economies, and on the effect of Federal Reserve policy on financial markets.
ECO 5295. Macroeconomic Theory III (3). Prerequisites: ECO 5204 and ECO 5207; or instructor permission. This course introduces advanced graduate students to the core concepts and techniques used in cutting-edge academic research. The course covers essential techniques for analyzing macroeconomic data and for mapping data to theoretical models; and covers the core models commonly used in macroeconomic research.
ECO 5305. History of Economic Thought (3). This course covers analysis and critique of economic ideas, beginning with the Greeks. Concentration is upon classical economists.
ECO 5403. Static Optimization in Economics (3). This course examines mathematical methods used for the solution of static optimization problems in economic theory.
ECO 5405. Introduction to Mathematical Economics (3). This course focuses on the use of mathematical economic models, equilibrium analysis, linear algebra, comparative static analysis, optimization problems, and dynamic problems.
ECO 5408. Computational Economics I (3). Prerequisite: ECO 5423. In this course, topics include solutions of linear and nonlinear systems of equations, numerical integration and differentiation, optimization, Monte Carlo and stochastic simulation, finite element and spectral solution methods for ordinary and partial differential equations, dynamic programming and stochastic optimal control, and asymptotic perturbation methods.
ECO 5416. Econometrics I (3). This course is an introduction to econometric methods focusing on the statistical foundation for estimation and inference in the classical regression model.
ECO 5417. SAS for Economists (3). Prerequisite: One semester of graduate level econometrics or instructor permission. This course uses the SAS programming language to manipulate data and to estimate econometric models. Topics that are covered include: database construction using the output and retain statements; conducting multivariate regressions; and the use of the SAS macro facility.
ECO 5420. Applied Econometrics (3). This course introduces statistical concepts used in econometric thinking, reviews the classical linear regression model, and discusses applications to economic data.
ECO 5423. Econometrics II (3). Prerequisite: ECO 5416 or instructor permission. This course considers extensions of the classical regression model. Topics include nonlinear least squares, instrumental variables estimation, and generalized least squares.
ECO 5424. Econometric Methods for Panel Data (3). Prerequisites: ECO 5416, ECO 5423, and ECO 5427. This course provides students with the tools necessary for working with panel data, in order to evaluate different methods and their applicability to particular estimation problems. Topics are typically not included in econometrics core courses, yet are important in empirical research. Focus is on the analysis of cross-section and panel data, and on the discussion of linear and nonlinear models.
ECO 5427. Limited Dependent Variable Models (3). Prerequisite: ECO 5423. This course introduces graduate students to logit, probit, tobit, multinominal logit, selection, and hazard models.
ECO 5428. Time Series Analysis (3). Prerequisite: ECO 5423. This course explores univariate and multivariate time series methods including: univariate ARIMA, transfer function models, state space models, vector auto-regression models, vector error correction models, spectral analysis, causality tests, and unit root tests. Data analysis and model building are emphasized.
ECO 5434. Analysis of Economic Data (3). This course focuses on methods of analyzing economic data, in addition to teaching students how to accurately read and interpret articles containing economic data. The course includes a look at various statistical analysis software available, applying statistical software to analyze economic data, interpreting the meaning of the statistical output, and presenting the findings in a meaningful manner.
ECO 5453. Advanced Experimental Economics (3). This course provides a PhD level introduction to experimental economics. The first section of the course focuses on how to run an economic experiment. After this, the course studies four major areas of economics that have been changed by experimental economics: (1) decision making under risk and uncertainty, (2) models of fairness and reciprocity, (3) game theoretic models and (4) models of markets. The course stresses student participation, and ends with a presentation of student research projects.
ECO 5454. Empirical Methods in Applied Economics (3). Prerequisites: ECO 5115, ECO 5116, ECO 5204, ECO 5207, ECO 5416, and ECO 5423. This course examines empirical methods used in performing applied economics research using a wide range of academic papers that have used the relevant techniques.
ECO 5457. Introduction to Research Methods in Economics (0). (S/U grade only.) This course demonstrates how to apply economic analysis and teaches how to construct these analyses in a variety of research settings. In addition to exposing students to ongoing research in a variety of fields and current research ongoing in the department, this course teaches students how to communicate their research both in written form and in presentations.
ECO 5505. Public Economics (3). This course examines the principles of taxation and debt, shifting and incidence, public expenditures and redistribution theory.
ECO 5506. Public Goods (3). Pre- or corequisite: Approved course in Experimental Economics. This course explores the theory, empirical evidence, and experimental evidence regarding how human societies provide public goods.
ECO 5533. Public Choice (3). This course focuses on the role of government, public goods and externalities, voting and collective choice, bureaucracy theory, and political structure and economic organization.
ECO 5706. Seminar in International Trade Theory and Policy (3). This course explores the theories of the cause, magnitude, and patterns of real trade among nations, ranging from comparative cost explanations to Heckscher-Ohlin theories and recent approaches. Policy issues regarding contemporary international trade problems, the role of tariffs, and quotas also are covered.
ECO 5707. International Trade (3). Prerequisites: ECO 2013 and ECO 2023. This course focuses on the theory of international trade, the gains from trade, tariffs and other trade restrictions, cartels.
ECO 5715. International Finance (3). Prerequisites: ECO 2013 and ECO 2023. Recommended prerequisites: ECO 3203 and ECO 3223. This course explores topics such as balance of payments; disequilibrium and adjustment; birth, evolution, and demise of the Bretton Woods System; the managed float; international monetary reform; international factor movements, multinational corporations.
ECO 5906r. Directed Individual Study (3). (S/U grade only). May be repeated to a maximum of nine semester hours.
ECO 5907r. Directed Individual Study (3). Prerequisite: Instructor permission. May be repeated to a maximum of nine semester hours.
ECO 5914r. Supervised Research (1–5). (S/U grade only). May be repeated to a maximum of five semester hours.
ECO 5922r. Professional Development for Economists (0–2). Prerequisite: Admission to MS program in economics. This course covers issues of ethics and responsibilities for professional economists. Faculty and visiting economists offer presentations and discussions of the work of professional economists in the public and private sectors. May be repeated to a maximum of three semester hours.
ECO 5936r. Special Topics (1–3). This course covers special topics of current interest or of benefit from the specialties of visiting faculty. May be repeated in the same semester.
ECO 5942. Applied Economics Internship (3). (S/U grade only). This course is intended to facilitate the transition from the academic world to the workplace for students in the project-track Economics MS degree.
ECO 5971r. Thesis (3–6). (S/U grade only). A minimum of six semester hours is required.
ECO 5973r. Applied Master's Project (3). Prerequisites: ECO 5114, ECO 5117, ECO 5206, ECO 5208, ECO 5420, ECO 5434, or instructor permission. As the capstone for the applied master's degree, this project requires students to use theory, research methods, and analytical procedures learned in the program to research an applied economics question. Findings are presented in both oral and written format. The 3-hour project is taken in both 6-week summer sessions, for a total of six semester hours. May be repeated to a maximum of nine semester hours.
ECO 5973Lr. Economics Analysis: Solving and Communication a Consulting Project (3). Prerequisites: ECO 5114, ECO 5117, ECO 5206, ECO 5208, ECO 5420, and ECO 5434. Corequisite: ECO 5973. This course is a companion course to the Applied Project (ECO 5973) for students in the MS in Applied Economics degree. The course focuses on how to analyze and solve consulting projects. In addition, students discuss how to effectively communicate results to clients. The course also helps students to quickly adapt to the life of an economist in private, state or federal organizations. May be repeated to a maximum of nine semester hours.
ECO 6176. Topics in Behavioral Economics (3). Prerequisites: ECO 5115 and ECO 5116. This course is an overview of behavioral economics using both empirical and theoretical contributions from economics and psychology. The course aims to identify alternative assumptions, in line with observed choice patterns, for use in mainstream economic theory.
ECO 6209. Topics in Macroeconomics (3). This course surveys recent developments in macroeconomic theory with an emphasis on developing research skills in an applied context. Topics include endogenous growth, economic convergence and technological diffusion across countries, money and growth, and modern business cycle theory.
ECO 6216. Monetary Theory and Policy (3). Prerequisite: ECO 5204. This course builds the skills needed to perform research in monetary economics and to survey recent literature in the area. The role of the money market in the macroeconomy and the policy tools, policy objectives, and history of the Federal Reserve are also emphasized.
ECO 6296. Open Economy Macroeconomics (3). Prerequisites: ECO 5116, ECO 5207, and ECO 5423. This is an advanced PhD course on open economy macroeconomics and finance. Canonical models of open-economy are explored, including the real business cycle model and sticky price models.
ECO 6936. Topics in Microeconomics (3). Prerequisites: ECO 5115, ECO 5116, or instructor permission. This course discusses competitive general equilibrium (theory and applications); fundamental results of welfare economics; market failure (externalities and public goods); game and decision theory; the economics of uncertainty (theory and applications).
ECO 6938r. Doctoral Workshop (0–3). (S/U grade only). This course consists of informal seminars and colloquia for critical review of research work in progress and advanced research topics, presented by doctoral students, faculty, and visitors. Registration for credit requires departmental approval. May be repeated without limit.
ECO 6939r. Teaching Workshop (0–3). (S/U grade only). This course consists of informal seminars and colloquia on topics and issues related to teaching economics at the college level, presented by doctoral students, faculty, and visitors. May be repeated to a maximum of six semester hours.
ECO 6960r. Preliminary Examination Preparation (0–12). (S/U grade only). Prerequisites: ECO 5115, ECO 5116, ECO 5204 and ECO 5207. This course is open to students who have completed the core PhD theory courses and are engaged in intensive study for their PhD preliminary examinations.
ECO 6980r. Dissertation (1–24). (S/U grade only). Prerequisite: Admission to doctoral candidacy.
ECO 8969r. Preliminary Doctoral Examination (0). (P/F grade only.)
ECO 8976r. Master's Thesis Defense (0). (P/F grade only.)
ECO 8985r. Dissertation Defense (0). (P/F grade only.)
ECP 5115. Seminar in the Economics of Population (3). This course examines theoretical and empirical treatment of the determinants of demographic behavior in less and more developed nations, the economic consequences of the behavior, and implications of both sets of findings for population and economics policy.
ECP 5117. Mathematical Demography (3). This course is an introduction to the central analytical techniques of modern population study. Analysis including stable population theory and indirect estimation, continuous and discrete time formulations are considered; generalizations of the standard model with fixed mortality and fertility are also examined. Parametric models of fertility, mortality, stable populations, and the curve-fitting techniques underlying these approaches are reviewed.
ECP 5118. Population Data (3). This course is an introduction to fundamental demographic data, measures, and methods. This required first-semester course for Master's students in Demography introduces basic vocabulary, standard methodology, and standard data repositories used by applied and academic demographers. Lectures and problem sets require students to practice on realistic applications using current demographic data.
ECP 5205. Labor Markets (3). This course covers the following primary topics: the determinants of labor demand and supply, wage differentials, human capital, the operation of labor markets, labor mobility, and the dynamics of labor markets.
ECP 5405. Industrial Organization (3). Prerequisites: ECO 5115 and ECO 5116. This course focuses on the effect of industrial structure and the conduct of firms upon the economic performance and efficiency of the economy.
ECP 5415. Social Control of Business (3). This course focuses on the role of the state in establishing the framework of the market economy; including enforced competition, regulated industries, and nationalized industries.
ECP 5456. Law and Economics (3). This course immerses students in the literature on "law and economics" including the seminal contributions to this field. The differences between the most important "schools" of thought (approaches to the analysis of law and economics) are examined in the process of an exploration of the economic analysis of property law, contract law, tort law, and criminal law. The impact of economic incentives and objectives is explored, as well as objectives on the procedures of each on economic behavior. Students also engage in research by applying an economic approach to study and write about an issue in law or legal processes.
ECP 5536. Economics of Health (3). Prerequisites: ECO 2013 and ECO 2023; or instructor permission. This course is an introduction to and survey of the economics of health. Intended primarily for graduate students in the health disciplines and in similar disciplines other than economics.
ECP 5537. Applied Health Economics (3). Prerequisite: Graduate standing in Economics or instructor permission. This course is designed to teach students to work with large survey data sets, especially panel data. Upon completion of the course, students have an extensive familiarity with Stata. They should be able to display data visually, tabulate information, and run multivariate panel regressions.
ECP 5538. Health Policy Statistics (3). Prerequisite: Graduate standing. This course introduces students to quantitative research methods and analytical techniques. Upon completion of the course, students should be able to read empirical articles and conduct statistical analyses.
ECP 5606. Urban and Regional Economics (3). Prerequisite: ECO 2023. This course introduces students to the evolution of cities, along with issues with which cities and regions must deal (e.g., sprawl, pollution, congestion, transportation, poverty, housing and neighborhood development, public finance) to be examined from an economic perspective. The content lays the foundation for an analysis of policy alternatives to deal with these issues.
ECP 6105. Personnel Economics (3). This course applies the tools of modern economics (e.g., game theory, econometrics, lab and field experiments) to the traditional topics of human resource management. Topics cover the design of optimal incentive mechanisms, but also norms, teamwork, and peer relationships at the workplace.
ECP 6209. Labor Policy and Analysis (3). This course examines the theoretical and empirical research literature related to labor policy. In particular, students examine theoretical and empirical issues related to the wage and employment effects.
ECS 5015. Economic Development: Theory and Problems (3). This course discusses the overall determinants of pace and structure of development, and specific issues, e.g., industrialization, human resources, foreign sector, income distribution, rural development, technology, etc.