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Fall '00 Course Guide

Note: You must establish a session on wolverineacccess.umich.edu in order to use the link "Check Times, Location, and Availability". Once your session is established, the links will function.

Courses in Economics (Division 358)

This page was created at 3:55 PM on Wed, Dec 13, 2000.

Fall Term, 2000 (September 6 December 22)

Open courses in Economics

Wolverine Access Subject listing for ECON

Take me to the Fall Term '00 Time Schedule for Economics.

To see what has been added to or changed in Economics this week go to What's New This Week.


Override Procedures for Economics courses

Override Procedures for Economics 101 and 102: Put yourself on the electronic waitlist and then attend the first day of classes for directions. If you are not able to get on the electronic waitlist, attend the first day of the class and speak with the professor. Office hours (158 Lorch) for Fall Term will be Monday-Friday 8:00-4:00. Shannon DeWolf will be available to answer questions about the Economics concentration requirements, career/job information, internship information, Economics Networking Program, college or department policies and procedures, and general university information. Students can schedule advising appointments by calling [(734) 763-9242 or (734) 764-2356] or stopping by the office.

Override procedures for 300- and 400-level courses will be handled by the faculty member in charge. The student must attend the first day of the course he/she wishes to get the override in and speak with the professor.


Econ. 101. Principles of Economics I.

Introductory Courses

Section 100.

Instructor(s): Jan Gerson (jgerson@umich.edu)

Prerequisites & Distribution: High school algebra and geometry. No credit granted to those who have completed or are enrolled in 400. (4). (SS). (QR/2).

Half QR

Credits: (4; 3 in the half-term).

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ101_100_200_F00/

Economics 101 examines the microeconomics of capitalism the behavior of households and businesses, the generation of prices and outputs in markets, and applications to public policy. Specific topics in Economics 101 include: supply and demand; the differences between competition and monopoly; environmental problems and policies; labor markets; and international trade. Economics 101 is the first part of the two-term introduction to economics the second part (Economics 102, for which Economics 101 is a prerequisite) examines macroeconomics. Prerequisites for 101: high school algebra and geometry and a willingness to use them.

The course format consists of large lectures taught by the professor and one small one-and-a-half-hour section meeting per week taught by a graduate student instructor.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1

Econ. 101. Principles of Economics I.

Introductory Courses

Section 200.

Instructor(s): Paula Malone (pmalone@umich.edu)

Prerequisites & Distribution: High school algebra and geometry. No credit granted to those who have completed or are enrolled in 400. (4). (SS). (QR/2).

Half QR

Credits: (4; 3 in the half-term).

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ101_100_200_F00/

Economics 101 examines the microeconomics of capitalism the behavior of households and businesses, the generation of prices and outputs in markets, and applications to public policy. Specific topics in Economics 101 include: supply and demand; the differences between competition and monopoly; environmental problems and policies; labor markets; and international trade. Economics 101 is the first part of the two-term introduction to economics the second part (Economics 102, for which Economics 101 is a prerequisite) examines macroeconomics. Prerequisites for 101: high school algebra and geometry and a willingness to use them.

The course format consists of large lectures taught by the professor and one small one-and-a-half-hour section meeting per week taught by a graduate student instructor.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1

Econ. 101. Principles of Economics I.

Introductory Courses

Section 300 Hourly Exams: Thur, Oct 14, 8 10 p.m. and Wed, Nov 3, 6 8 p.m.

Instructor(s): Sherrie Kossoudji (kossoudj@umich.edu)

Prerequisites & Distribution: High school algebra and geometry. No credit granted to those who have completed or are enrolled in 400. (4). (SS). (QR/2).

Half QR

Credits: (4; 3 in the half-term).

Course Homepage: http://coursetools.ummu.umich.edu/2000/fall/lsa/econ/101/300.nsf

Economics 101 examines the microeconomics of capitalism the behavior of households and businesses and the generation of prices and outputs in markets. Specific topics in Economics 101 include: supply and demand; the differences between competition and monopoly; labor markets and discrimination; the distribution of incomes and poverty; environmental problems and policies; and government taxation and expenditure issues. Economics 101 is the first part of the two-term introduction to economics the second part (Economics 102, for which Economics 101 is a prerequisite) examines macroeconomics.

Prerequisites for 101: high school algebra and geometry and a willingness to use them. The course format consists of large lectures taught by the professor and one small one-and-a-half-hour section meeting per week taught by a graduate student instructor.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 102. Principles of Economics II.

Introductory Courses

Section 100.

Instructor(s): Alan Deardorff (alandear@umich.edu)

Prerequisites & Distribution: Econ. 101. No credit granted to those who have completed or are enrolled in Econ. 400. (4). (SS). (QR/2).

Half QR

Credits: (4; 3 in the half-term).

Course Homepage: http://www.econ.lsa.umich.edu/~alandear/courses/102/102.html

Economics 101 and 102 are required as prerequisites to the concentration and to upper-level courses in Economics. In Economics 102, the fundamental concepts and theories of macroeconomics are developed and used to analyze problems of current interest. The major concerns of this course are the determinants of GDP, unemployment, inflation, international trade, and economic growth. The course format consists of three hours of lecture per week (100) by the professor and a one and a half hour section meeting (101-112) led each week by a graduate student instructor. The section meetings are limited to 35 students.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1

Econ. 102. Principles of Economics II.

Introductory Courses

Section 200.

Instructor(s): E. Philip Howrey (eph@umich.edu)

Prerequisites & Distribution: Econ. 101. No credit granted to those who have completed or are enrolled in Econ. 400. (4). (SS). (QR/2).

Half QR

Credits: (4; 3 in the half-term).

Course Homepage: No Homepage Submitted.

Economics 101 and 102 are required as prerequisites to the concentration and to upper-level courses in Economics. In Economics 102, the fundamental concepts and theories of macroeconomics are developed and used to analyze problems of current interest. Major topics include the determinants of aggregate output, employment and unemployment, inflation, international trade, and economic growth, The course format is three hours of lecture per week (either 100 or 200) with the professor and one and one half hours of sections meetings (101-109 or 201 212) per week with a graduate student instructor. The section meetings are limited to 35 students. Contact Undergraduate Office, Dept. of Economics, 158 Lorch Hall.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1

Econ. 108. Introductory Microeconomics Workshop.

Introductory Courses

Section 001.

Instructor(s): Jan Gerson (jgerson@umich.edu)

Prerequisites & Distribution: First-year standing and concurrent enrollment in Economics 101. (1). (SS). Offered mandatory credit/no credit.

Credits: (1).

Course Homepage: No Homepage Submitted.

Students will meet weekly for one hour with a faculty member for discussion of the previous week's Wall Street Journal (WSJ) articles, stressing the use and application of the microeconomic tools being learned in Economics 101. Articles discussed include articles on the Wall Street Journal's "Economics in Action" Website (http://subscribe.wsj.com/microexamples) and current articles related to the week's class topics. Students will select a topic, open the discussion on their week's topic, keep a journal throughout the term on their topic and summarize their findings at the end of the term in a brief (2 page max) paper. This paper, journal, and a copy of their favorite article on the topic will be turned in at the end of the term. Workshop attendance is mandatory, and each student will be required to subscribe to the WSJ for the term. Evaluation of students will be entirely on the basis of their paper, journal, and attendance. Students not concurrently enrolled in Economics 101 will be dropped from the class.

Check Times, Location, and Availability Cost: 1 Waitlist Code: 1

Econ. 299. Undergraduate Internship.

Honors Program, Internships, Seminars, and Independent Research

Instructor(s):

Prerequisites & Distribution: Economics concentrators, with permission of concentration advisor. Internship credit is not retroactive and must be prearranged. (1). (Excl). Offered mandatory credit/no credit. May not be used to satisfy economics electives for an economics concentration. (EXPERIENTIAL). May be repeated for a total of 2 credits.

Credits: (1).

Course Homepage: No Homepage Submitted.

Credit is granted for a full-time internship of at least eight (8) weeks that enriches a student's academic experience and/or allows a student to explore careers related to his/her academic studies. Internship credit is not retroactive and must be prearranged. Verification of the internship (after completion) must be provided by the student on company letterhead.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.

Econ. 310. Money and Banking.

Monetary and Financial Economics

Section 001.

Instructor(s): King-Yuen Yik

Prerequisites & Distribution: Econ. 101 and 102. (3). (SS).

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2000/fall/lsa/econ/310/001.nsf

This course studies the role of money, banking, and finance in the economy. At the macroeconomic level, we will study how monetary policy influences interest rates, prices, and overall economic activity. At the microeconomic level, the course will introduce topics in portfolio theory, risk management, and banking regulation. The nature of banks and problems of their supervision and control are linked to the recent banking crisis in the United States. We will also examine in detail how the Federal Reserve operates monetary policy, and the problems it faces in pursuing objectives such as economic growth, low inflation, and the containment of financial crises.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 320. Survey of Labor Economics.

Labor Economics

Section 001.

Instructor(s): Kerwin Charles (kcharles@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102. (3). (SS).

Credits: (3).

Course Homepage: No Homepage Submitted.

This course surveys the demand and supply of labor, investment in human capital, market structure and the efficiency of labor markets, discrimination, collective bargaining, the distribution of income, and unemployment.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1

Econ. 323. Economics and Gender.

Other Topics in Economics

Section 001.

Instructor(s): Paula Malone (pmalone@umich.edu)

Prerequisites & Distribution: Economics 101 and 102. (3). (Excl).

Upper-Level Writing

Credits: (3).

Course Homepage: https://coursetools.ummu.umich.edu/2000/fall/lsa/econ/323/001.nsf

Examines many aspects of the economic status of women, including their role in the labor market and the household, their relative wage status, the incidence of poverty in female-headed households, and the importance of historical and demographic trends as determinants of the economic status of women. Relevant issues include sex-related inequities in wages, taxation, social security, etc., and possible policies for combating discrimination.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 360. The Developing Economies.

Economic Development

Section 001.

Instructor(s): Frank Thompson (fthom@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102. No credit granted to those who have completed or are enrolled in 461. (3). (SS).

Upper-Level Writing

Credits: (3).

Course Homepage: No Homepage Submitted.

Most people live in "less developed countries" with much lower average incomes than the United States and other "developed countries" and this inequality continues to increase in severity. This course explores alternative conceptions of economic development, investigates proposed explanations for international variations, and critically examines competing strategies for alleviating global poverty and enlarging opportunities for human flourishing, especially for those worst off. A further focus is potential implications of global development in the more developed countries. The main text for the course is Economic Development by Michael P. Todaro (1999). Written work for the course consists of an early short (5 page) paper and a longer (12-15 page) term paper on a mutually agreeable topic, and midterm and final examinations. Discussion is strongly encouraged.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 395. Topics in Economics and Economic Policy.

Other Topics in Economics

Section 001 Growth, Inflation, and Depression: Macroeconomic and Monetary History of the Developed Countries from 1880 to the Present. (3 Credits).

Instructor(s): Robert Barsky (barksy@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102. (1-3). (Excl). May be repeated for a total of six credits.

Upper-Level Writing

Credits: (1-3).

Course Homepage: http://www-personal.umich.edu/~mschrist/econ395A.html

This course will focus on some of the major themes in the macroeconomic and monetary history of the developed countries from 1880 to the present, with an emphasis (but not exclusive concentration) on the United States. The goal is not a comprehensive chronological treatment of historic events, but rather a focus on some highly interesting economic phenomena (e.g. depression, hyperinflation, war finance) in their most dramatic and/or characteristic settings.

A tentative outline (some sections may be added or subtracted) is:

  1. Long-run growth experience of a cross-section of countries, 1880 -.
  2. The Classical Gold Standard, 1880 -1914
  3. Communism and Fascism
  4. Some aspects of the 1920's:
    1. Economic Growth and Expansion, Technical Change, etc.
    2. Hyperinflation in Europe
    3. Postwar resumption of gold standard
    4. The bullish stock market fundamentals and possible bubble
  5. The Great Depression
  6. Some Macroeconomic Implications of WWII
  7. The Bretton Woods System and Other Aspects of Postwar Economic Order
  8. The Expansionary 1960s
  9. Inflation and Stagflation in the 1970's
    1. Collapse of Bretton Woods
    2. Behavior of the Federal Reserve
    3. Price controls
    4. "Productivity slowdown"
    5. Where does oil fit in?
  10. The Volcker Disinflation
  11. "Twin Deficits" in the 1980's
  12. Greenspan and Modern Monetary Policy
Check Times, Location, and Availability Cost: 2 Waitlist Code: 1

Econ. 395. Topics in Economics and Economic Policy.

Other Topics in Economics

Section 002 Seminar on Controversial Economic Policy Issues. (3 credits)

Instructor(s): Tom Weisskopf (tomw@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102. (1-3). (Excl). May be repeated for a total of six credits.

Credits: (1-3).

Course Homepage: http://www-personal.umich.edu/~tomw/econ395/

This seminar will address a series of economic policy issues which have given rise to sharp debate among economists and policy-makers. Among the issues we will confront are: environmental protection; labor rights and international trade; reform of the U.S. social security system; market-based choice in education; and the "living wage." Students will be expected to defend their positions on these issues with cogent argument, economic analysis, and relevant empirical information. Readings will be selected from a variety of sources and compiled in a set of course packs. Requirements include coming to each class prepared to discuss and debate the issue under consideration; grading will be based on participation in classroom and computer conference discussions, a series of in-class quizzes, and several short papers.

Check Times, Location, and Availability Cost: 1 Waitlist Code: 1

Econ. 395. Topics in Economics and Economic Policy.

Other Topics in Economics

Section 003 Economics of Handling Waste. (1 credit). Meets Oct. 2-30. (Drop/Add deadline=October 6).

Instructor(s): Richard Porter (rporter@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102. (1-3). (Excl). May be repeated for a total of six credits.

Mini/Short course

Credits: (1-3).

Course Homepage: No Homepage Submitted.

This one-credit course will examine the economic aspects of generating, collecting, treating, disposing, and recycling waste. There are three parts:

  1. ordinary solid waste, business and household, and the four traditional ways of disposing of it (landfill, incineration, litter, and export);
  2. recycling (why we do it, how we do it, when and how it makes economic sense); and
  3. special waste categories (specifically hazardous waste, Superfund remediation, and radioactive waste).

The course will stress economic analysis (with some algebra and some graphs) and the policy implications of that analysis. The textbook is a draft of a book I am writing and on which I want feedback from students. With enrollment limited, the text is the lecture and the class is a seminar thus, assigned reading must be done ahead of the relevant class (and a few short, unannounced, start-of-class quizzes will be used to ensure that). Students must acquire the text in course pack form (about $20, of course NO royalties involved). The grades will be based: 1) on the quizzes; 2) on the quality of the comments, questions, and criticisms you offer, both by speaking up in (or outside of) class; and 3) on your notes in your marked-up course pack (which you will lend to me for the month of November). Enrollment is by permission of instructor only. Visit me (M109 Lorch), phone me (734-764-9419), email me (rporter@umich.edu), or snailmail me at any time after 15 April, 2000, explaining why you think you would be an valuable addition to this seminar, and if you are convincing and there is still space, I will arrange an override, and promptly (except in August) let you know so. Note the course times carefully (Mondays and Wednesdays, 4:00-5:30PM, 2-30 Oct. only).

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 401. Intermediate Microeconomic Theory.

Economic Theory and Statistics

Section 001.

Instructor(s): Stephen Salant (ssalant@umich.edu), Kai-Uwe Kuhn (kukuhn@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102, and Math. 115. (4). (SS). (QR/1).

Full QR

Credits: (4).

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ401_F00/

This course deals with the theoretical analysis of consumers, firms, markets, and price determination. The analysis is rigorous, using the tools of algebra, geometry, and elementary calculus in constructing models.

Prerequisites include one term of calculus. Economics 401 is a prerequisite for many other courses offered in Economics. Concentrators in economics are required to elect this course and are encouraged to complete it early in their concentration program. It is not recommended that 401 and 402 be taken in the same term. Lecture and discussion sections will both meet twice a week.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 402. Intermediate Macroeconomic Theory.

Economic Theory and Statistics

Section 001.

Instructor(s): Neil Buchanan

Prerequisites & Distribution: Econ. 101 and 102, and Math. 115. (4). (SS). (QR/1).

Full QR

Credits: (4).

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ402_F00/right.htm

This course in macroeconomics deals with the determination of broad economic aggregates such as national income, employment, the price level, and the balance of payments in both the short run and the long run. Rigorous analysis is used to understand the forces that determine these economic variables, and how they are affected by public policies.

Econ. 402 is predominantly a lecture course, with grades based on hour test(s), written exercises, and final exam. Economics 402 is a prerequisite for many other courses offered in Economics. Concentrators in Economics are required to elect this course and are encouraged to complete it early in their concentration program. It is strongly recommended that students take Economics 401 before 402.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 404. Statistics for Economists.

Economic Theory and Statistics

Section 100.

Instructor(s): E. Philip Howrey (eph@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102 and Math. 115. No credit granted to those who have completed or are enrolled in Econ. 405 or Stat. 250, 265, 311, 402, 405, or 412. (4). (Excl). (BS). (QR/1).

Full QR

Credits: (4).

Course Homepage: No Homepage Submitted.

This course provides an introduction to descriptive statistics, probability theory, statistical inference, and regression analysis. There are two lectures and one problem session per week. Grades are based on problem sets and exams. The course, which is self-contained, does not serve as a prerequisite to Economics 406.

Check Times, Location, and Availability Cost: 1 Waitlist Code: 1

Econ. 404. Statistics for Economists.

Economic Theory and Statistics

Section 200.

Instructor(s): Stanley Sedo (sasedo@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102 and Math. 115. No credit granted to those who have completed or are enrolled in Econ. 405 or Stat. 250, 265, 311, 402, 405, or 412. (4). (Excl). (BS). (QR/1).

Full QR

Credits: (4).

Course Homepage: No Homepage Submitted.

Economics 404 is an introduction to Statistics. Topics include descriptive statistics, probability, statistical inference and an introduction to regression analysis. Grades are determined by problem sets and exams. There are two lectures and one problem set per week. The course is self-contained and does not serve as a prerequisite to Economics 406.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 405/Stat. 405. Introduction to Statistics.

Economic Theory and Statistics

Section 001.

Instructor(s): Lutz Kilian (lkilian@umich.edu)

Prerequisites & Distribution: Math. 116 or 118. Juniors and seniors may elect this course concurrently with Econ. 101 or 102. No credit granted to those who have completed or are enrolled in Stat. 265, 311, or 412. Students with credit for Econ. 404 can only elect Econ. 405 for 2 credits and must have permission of instructor. (4). (MSA). (BS). (QR/1).

Full QR

Credits: (4).

Course Homepage: No Homepage Submitted.

This course is designed for economics concentrators but is sufficiently general to serve noneconomics concentrators as well. The emphasis is on understanding rather than on "cookbook" applications. Students are expected to know basic algebra and basic calculus. Since the course emphasizes the foundations of statistical inference, it is recommended that after finishing the course students elect Economics 406 or a similar course in the Statistics department to gain experience with applications and computational methods.

This course is designed for quantitatively oriented students who are comfortable with abstract concepts and mathematical techniques. Students who prefer a broader, less rigorous approach to statistics should elect Econ. 404. Evaluation of students in the course is based on examinations and homework assignments. There are three hours of lectures and one hour of discussion per week. 405 is a prerequisite for 406 (Econometrics).

Check Times, Location, and Availability Cost: 3 Waitlist Code: 1

Econ. 409. Game Theory.

Economic Theory and Statistics

Section 001.

Instructor(s): Ennio Stacchetti (ennio@umich.edu)

Prerequisites & Distribution: Math. 217. (3). (Excl). (BS).

Credits: (3).

Course Homepage: No Homepage Submitted.

This course will consist of an introduction to the subject of game theory. Game theory has become an important technique for studying competitive and cooperative phenomena in economics and the social sciences. Traditional economics emphasizes the two extremes of economic decision-making: perfect competition, in which no firm can affect market prices, and pure monopoly, in which one firm has complete price-setting power. Game theory is a technique which allows intermediate situations to be analyzed: for example, those that arise during wage negotiations or in price wars between two large firms. The same principles that govern the strategic interaction of players in parlor games like Chess or Poker turn out to be widely applicable to a whole range of such phenomena in economics, biology, and political science. The current course will explore the beginnings of the subject using simple illustrative examples. Some calculus and matrix algebra will be needed, but the mathematical requirement is more for some sophistication in methods of argumentation rather than for specific techniques.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 412. Topics in Macroeconomics.

Monetary and Financial Economics

Section 001 Economic Growth.

Instructor(s): Dmitriy Stolyarov (stolyar@umich.edu)

Prerequisites & Distribution: Econ. 402. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

This is an advanced undergraduate course in macroeconomic theory with the focus on economic growth. The standard of living in a country is determined by its capacity to produce goods and services. Why are some nations richer than others? Why is there economic growth? Will it continue forever? What factors play a role in shaping the economic success of a nation? We will study the key ideas and insights of modern growth theory and apply them to explain the facts from the history of technology, economic performance of the world and growth experience of different nations. Material is cumulative and math-intensive. Course requirements: two exams, homeworks.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1

Econ. 431. Industrial Organization and Performance.

Industrial Organization and Public Control

Section 001.

Instructor(s): Illoong Kwon (ilkwon@umich.edu)

Prerequisites & Distribution: Econ. 401. (3). (Excl).

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2000/fall/lsa/econ/431/001.nsf

This course will analyze the strategic interactions among firms and their effects on the social welfare. The topics will include the price discrimination, price/quantity competition, collusion, merger, entry deterrence, and antitrust laws. Selected news articles and antitrust cases will be used to illustrate some of the key concepts. Students should be prepared to participate frequently in class discussions.

Check Times, Location, and Availability Cost: 3 Waitlist Code: 1

Econ. 432. Government Regulation of Industry.

Industrial Organization and Public Control

Section 001.

Instructor(s): Kai-Uwe Kuhn (kukuhn@umich.edu)

Prerequisites & Distribution: Econ. 401. (3). (Excl).

Credits: (3).

Course Homepage: https://coursetools.ummu.umich.edu/2000/fall/lsa/econ/432/001.nsf

This course describes and analyzes the efforts of governments to control the market power of business enterprises. Topics include dominant position, oligopolistic cooperation, vertical restraint, and merger. Emphasis is placed on American policies, especially antitrust law and regulation by administrative commission. Economics 431 is not required. Students should be prepared to participate frequently in class discussions.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1

ECON 432. Government Regulation of Industry.

Industrial Organization and Public Control

Section 001.

Instructor(s): Kai-Uwe Kuhn (kukuhn@umich.edu)

Prerequisites & Distribution: Econ. 401. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

This course is primarily about anti-trust policy but also deals with some issues of regulation in markets with natural monopoly. The course has two elements: Students learn rigorous industrial organization theory as relevant to issues of anti-trust and economic regulation. (e.g., Collusion, Information exchange, predatory pricing, exclusionary practices, etc.). This knowledge is then applied to some landmark US and European anti-trust cases (e.g., the recent anti-trust action against Microsoft). All students will have to participate in presenting one of the cases.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.

Econ. 435. Financial Economics.

Monetary and Financial Economics

Section 001.

Instructor(s): Patrick Rowland (proland@umich.edu)

Prerequisites & Distribution: Econ. 401 and 405. (4). (Excl).

Credits: (4).

Course Homepage: https://coursetools.ummu.umich.edu/2000/fall/lsa/econ/435/001.nsf

The financial economics course provides the student with an examination of a wide array of financial instruments and institutions in today's global marketplace. In taking this course, you will develop an understanding of the numerous money-market and capital market instruments and rates, the determinants of equity and bond values, and the workings of various financial markets. Financial derivatives, specifically futures and options, are introduced and their relationship to portfolio management and hedging strategy is analyzed.

The course introduces the Capital Asset Pricing Model, Markowitz diversification, duration and bond portfolio management, and the Black-Scholes option-pricing model. As part of the coursework, you will apply the concepts presented in class and investigate the fundamental components that determine the value of major U.S. corporations.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 453. The European Economy.

Comparative Economic Systems and National Economies

Section 001.

Instructor(s): Jim Adams (jimadams@umich.edu)

Prerequisites & Distribution: Econ. 401. (4). (Excl).

Credits: (4).

Course Homepage: No Homepage Submitted.

The structure, function, and performance of the European economy since World War II. Emphasis is placed on description and analysis of European economic integration. Topics include the origins and institutions of the European Community, creation of the customs union, unification of the internal market, implementation of common policies for agriculture and competition, prospects for monetary union, and progress toward social Europe. Students should be prepared to participate frequently in class discussions. Students who miss the first two days of class without permission will be dropped automatically from class.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 454. Economics of Japan.

Comparative Economic Systems and National Economies

Section 001.

Instructor(s): Gary Saxonhouse (grsaxon@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

Analysis of Japan's economic organization, structure, and performance. Special emphasis is placed on the character of the Japanese financial system, the behavior of Japanese enterprises, the Japanese labor force, and the Japanese household. There will also be ample discussion of Japan's international economic relations. Attention will be given to bilateral and multilateral conflicts in overseas product, financial, and technology markets. The class has a lecture format, but questions are welcomed. Course grade will be determined by two one-hour exams and a final.

Check Times, Location, and Availability Cost: 3 Waitlist Code: 1

Econ. 461. The Economics of Development I.

Economic Development

Section 001.

Instructor(s): Rohini Somanathan (rohinis@umich.edu)

Prerequisites & Distribution: Econ. 401. No credit granted to those who have completed or are enrolled in 360. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

This course is an introduction to questions related to the economic development of countries. The term "economic development" is very broad and we will consider a number of aspects of such development. We will examine the factors that account for differences in per capita income across countries, the characteristics of traditional societies that are conductive to growth and modernization and the relationship between growth, income distribution and other indices of development such as health and education. We will also ask how property rights and institutions influence technological change in different sectors of the economy and how social norms and networks in traditional societies can help resolve contractual problems associated with development. Methodologically, the course will be a mixture of mathematical models and empirical studies. Intermediate microeconomics is the only prerequisite.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 472. Intermediate Natural Resource Economics.

Environmental Economics

Section 001.

Instructor(s): Stephen Salant (ssalant@umich.edu)

Prerequisites & Distribution: Econ. 401 or NR&E 570. (3). (Excl).

Credits: (3).

Course Homepage: https://coursetools.ummu.umich.edu/2000/fall/lsa/econ/472/001.nsf

This course explains the conceptual framework used by economists to analyze the usage over time of replenishable resources (such as water, trees, fish, and wildlife) and nonreplenishable resources (such as oil or minerals). For each of these resources, increased consumption today inevitably has future consequences. The course therefore emphasizes the theory of intertemporal choice. Comparisons will be made between the market outcome when self-interested agents interact over time and the efficient (surplus-maximizing) intertemporal exploitation of the resources. The courses presumes familiarity with elementary probability, calculus, and static microtheory at the level of Economics 401 or equivalent. Grades will be based on hour test(s), problem sets, and a final exam.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 483/Poli. Sci. 482. Positive Political Economy.

Other Topics in Economics

Section 001.

Instructor(s): Yan Chen (yanchen@umich.edu)

Prerequisites & Distribution: Econ. 401. (3). (Excl).

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/~yanchen/econ483/econ483.html

This course is an introduction to game theory and its application in political science. Fundamental solution concepts in game theory are first introduced by classroom experiments, then by rigorous mathematical analysis. Voting, legislative rules, bargaining, and other political processes will be modeled and analyzed using game theory.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1

Econ. 494/Hist. 494. Topics in Economic History.

Economic History

Section 001 Economic History of Japan

Instructor(s): Gary Saxonhouse (grsaxon@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

This course will examine the development of the Japanese economy during the 800 years preceding 1945. Particular emphasis will be placed on the structural changes occurring during the Tokugawa and early Meiji periods as well as on developments during the first half of the twentieth century. The course will explore how, when, and why Japan's economic performance came to be markedly distinctive from the rest of Asia. Economics 494 cannot be enrolled in for credit if Economics 454 has been taken previously for credit. This academic term, however, it can be taken simultaneously for credit with Economics 454. This course has a lecture format, but questions are welcomed. Grades will be determined by two one hour exams and a final exam.

Check Times, Location, and Availability Cost: 3 Waitlist Code: 1

Econ. 495. Seminar in Economics.

Honors Program, Internships, Seminars, and Independent Research

Instructor(s):

Prerequisites & Distribution: Econ. 401, 402, and 404 or 405; and permission of instructor. (3). (Excl). May be repeated for a total of six credits.

Credits: (3).

Course Homepage: No Homepage Submitted.

Admission information for all 495 seminars: Closed at CRISP. Applications will be available at the Undergraduate Economics Office, 158 Lorch Hall. Admission will be the decision of the instructor. Contact the Undergraduate Economics Office for further information.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.

Econ. 495. Seminar in Economics.

Honors Program, Internships, Seminars, and Independent Research

Section 001 Social Regulation

Instructor(s): Klaas van't Veld (kvtveld@umich.edu)

Prerequisites & Distribution: Econ. 401, 402, and 404 or 405; and permission of instructor. (3). (Excl). May be repeated for a total of six credits.

Upper-Level Writing

Credits: (3).

Course Homepage: http://www.lib.umich.edu/libhome/Reserves/F00/EC495/index.html

This seminar studies a very broad range of topics in social regulation, defined as government intervention to protect basic rights and freedoms, and to control harmful or unintended consequences of market transactions. Examples include environmental, health, and safety regulation, affirmative action, and protection of freedom of speech. The seminar begins with classroom review of essential concepts and tools, after which participants are expected to pursue (in small groups) a significant research topic agreed to by the instructor.

Emphasis is on the use of formal microeconomic models to analyze real-world problems and to evaluate policy interventions.

Papers and oral presentations are required. Economics 401 is a prerequisite. ECB credit is available.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 5, P/I

Econ. 495. Seminar in Economics.

Honors Program, Internships, Seminars, and Independent Research

Section 002 Topic?

Instructor(s): Rohini Somanathan (rohinis@umich.edu)

Prerequisites & Distribution: Econ. 401, 402, and 404 or 405; and permission of instructor. (3). (Excl). May be repeated for a total of six credits.

Credits: (3).

Course Homepage: No Homepage Submitted.

No Description Provided

Check Times, Location, and Availability


Econ. 496. History of Economic Thought.

Economic History

Section 001.

Instructor(s): Frank Thompson (fthom@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102. (3). (Excl).

Upper-Level Writing

Credits: (3).

Course Homepage: http://www-personal.umich.edu/~ntchung/496.html

This course provides an overview of the development of economics from the origins of modern capitalism to the present. The aim of the course is to deepen understanding of contemporary economic questions by situating them in the context of how such questions have arisen and been debated in the history of economic thought. Topics include: (1) Classical political economy from Adam Smith through Karl Marx; (2) Neoclassical economics from Jevons, Menger, and Walras through Marshall and his followers; (3) Keynesian economics and the neoclassical synthesis; (4) more recent New Classical, New Keynesian, Post Keynesian, and neomarxist developments. Economic theory will be situated in the broader historical contexts in which they developed. Attention will be focused on the scientific status of economic theories as well as their relation to policy and normative considerations.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1

Econ. 498. Honors Independent Research.

Honors Program, Internships, Seminars, and Independent Research

Instructor(s):

Prerequisites & Distribution: Open only to students admitted to Honors concentration in economics. (1-4). (Excl). (INDEPENDENT). May be repeated for a total of eight credits.

Credits: (1-4).

Course Homepage: No Homepage Submitted.

This course is for undergraduates writing senior Honors theses. Each student's grade for the course and levels of Honors achieved will depend entirely on the quality of the thesis, as evaluated by the thesis advisor with whom the student has arranged to work.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.

Econ. 499. Independent Research.

Honors Program, Internships, Seminars, and Independent Research

Instructor(s):

Prerequisites & Distribution: Written permission of staff member supervising research, and permission of the economics concentration advisor. (1-4). (Excl). No more than four credits may be used in an economics concentration program. (INDEPENDENT). May be repeated for a total of eight credits.

Credits: (1-4).

Course Homepage: No Homepage Submitted.

Student and instructor agree on a substantial piece of work involving reading or research. Evaluation is based on the written work, either papers or examinations.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.

Econ. 555/Public Policy 555. Microeconomics.

Other Topics in Economics

Section 001.

Instructor(s): Carl Simon (cpsimon@umich.edu)

Prerequisites & Distribution: Permission of instructor. (4). (Excl).

Credits: (4).

Course Homepage: No Homepage Submitted.

See Public Policy Studies 555.001.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.

Econ. 573/Public Policy 573. Benefit-Cost Analysis.

Other Topics in Economics

Section 001.

Instructor(s): Kerwin Charles (kcharles@umich.edu)

Prerequisites & Distribution: Econ. 555. (4). (Excl).

Credits: (4).

Course Homepage: No Homepage Submitted.

See Public Policy Studies 573.001.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.

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