College of LS&A

Fall '01 Graduate Course Guide

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Courses in Economics


This page was created at 9:15 AM on Thu, Oct 11, 2001.

Fall Academic Term, 2001 (September 5 December 21)

Open courses in Economics
(*Not real-time Information. Review the "Data current as of: " statement at the bottom of hyperlinked page)

Wolverine Access Subject listing for ECON

Fall Term '01 Time Schedule for Economics.

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

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ECON 401. Intermediate Microeconomic Theory.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Econ. 101 and 102, and Math. 115. (4). Rackham credit requires additional work.

Credits: (4).

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ401_F01/

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.

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ECON 402. Intermediate Macroeconomic Theory.

Economic Theory and Statistics

Section 001.

Instructor(s): Chris House

Prerequisites: Econ. 101 and 102, and Math. 115. (4). Rackham credit requires additional work.

Credits: (4).

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ402_F01/

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.

Textbooks: Age of Diminished Expectations 3rd edKurgmanMIT Press0-262-61134-1

Macro w/Macrobytes package MankiwVHPS

Study Guide & Workbook Kaufman1-57259-645-7

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ECON 404. Statistics for Economists.

Economic Theory and Statistics

Section 100.

Instructor(s): Douglas Bice

Prerequisites: Econ. 101 and 102 and Math. 115. No credit granted to those who have completed or are enrolled in Econ. 405 or Stats. 350, 265, 311, 350, 400, 402, 405, or 412. (4). Rackham credit requires additional work.

Credits: (4).

Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/econ/404/100.nsf

No credit is granted to students who have completed or are enrolled in Econ. 405 or Stat. 311, 402, or 412. This course is designed to enable students to read critically empirical literature in economics and other social sciences. Topics covered include descriptive statistics, elementary probability theory, statistical inference, and regression analysis. Data analysis and interpretation of quantitative results are emphasized.

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ECON 404. Statistics for Economists.

Economic Theory and Statistics

Section 200.

Instructor(s): Chul-In Lee

Prerequisites: Econ. 101 and 102 and Math. 115. No credit granted to those who have completed or are enrolled in Econ. 405 or Stats. 350, 265, 311, 350, 400, 402, 405, or 412. (4). Rackham credit requires additional work.

Credits: (4).

Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/econ/404/200.nsf

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.

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ECON 405 / STATS 405. Introduction to Statistics.

Economic Theory and Statistics

Section 001.

Instructor(s): Howrey

Prerequisites: 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 Stats. 265, 311, 400, or 412. Students with credit for Econ. 404 can only elect Econ. 405 for 2 credits and must have permission of instructor. (4).

Credits: (4).

Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/econ/405/001.nsf

See Statistics 405.001.

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ECON 409. Game Theory.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Math. 217. (3).

Credits: (3).

Course Homepage: www.econ.lsa.umich.edu/~ennio/409

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 analyses intermediate situations like 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 problems in economics, biology, and political science. The current course will explore the beginnings of the subject using simple illustrative examples, including bargaining, auctions and duopolistic competition. 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. Econ 401 provides motivation for many of the examples studied in this course.

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ECON 411. Monetary and Financial Theory.

Monetary and Financial Economics

Section 001.

Instructor(s): Subir Bose

Prerequisites: Econ. 402, and 404 or 405. (3). Rackham credit requires additional work.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/econ/411/001.nsf

Modern financial markets and the role of monetary policy in influencing asset prices and the economy. Formal development of monetary and financial economics. Topics include interest rate determination, portfolio theory, regulation of financial institutions, money supply and demand, and monetary policy.

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ECON 412. Topics in Macroeconomics.

Monetary and Financial Economics

Section 001.

Instructor(s): Zvi Hercowitz

Prerequisites: Econ. 402. (3). Rackham credit requires additional work.

Credits: (3).

Course Homepage: No homepage submitted.

The course covers the following topics:

  1. Consumption, the Permanent Income Hypothesis
  2. Investment, optimal capital accumulation
  3. Labor and supply and labor demand
  4. General equilibrium in a model with the components in (1), (2) and (3)
  5. Including a government in the model, expenditure, taxation and deficits
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ECON 414. Growth Theory.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Economics 401 & 402. (4). Rackham credit requires additional work.

Credits: (4).

Course Homepage: No homepage submitted.

This is an advanced undergraduate course in macroeconomic theory with the focus on economic growth (students must complete extra materials for graduate credit). 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 is the role of social infrastructure in shaping the economic success of a nation? This array of questions will be addressed using the neoclassical and the new growth theory, as well as cutting-edge theories of talent allocation and economics of corruption.

Course requirements include three in-class exams and eight problem sets, some of which require students to perform computer simulation exercises. Textbook: Charles I. Jones, Introduction to Economic Growth, 1st ed., W.W. Norton. Course pack (CP), available at Ulrich's Bookstore.

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ECON 418. Business Cycles.

Monetary and Financial Economics

Section 001.

Instructor(s): Miles S Kimball (mkimball@umich.edu)

Prerequisites: Econ. 402. (3). Rackham credit requires additional work.

Credits: (3).

Course Homepage: No homepage submitted.

Economics 418 examines modern business cycle theories that emphasize dynamics, rational expectations and maximization, including Real Business Cycle and New Keynesian theories. ECON 401and 402 are both strongly recommended as prerequisites, since modern business cycle theories give a microeconomic foundation to macroeconomics.

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ECON 421. Labor Economics I.

Labor Economics

Section 001.

Instructor(s): George E Johnson (gjohnson@umich.edu)

Prerequisites: Econ. 401. (3). Rackham credit requires additional work.

Credits: (3).

Course Homepage: No homepage submitted.

This course deals with the economics of labor supply and demand, wage and employment determination, investment in education and training, and unemployment. The course develops microeconomic models of the labor market, presents relevant empirical evidence, and discusses applications to such policy issues as the work incentive effects of income maintenance programs and the employment effects of minimum wage legislation. Grades are based on midterm and final examinations.

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ECON 431. Industrial Organization and Performance.

Industrial Organization and Public Control

Section 001.

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

Prerequisites: Econ. 401. (3). Rackham credit requires additional work.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/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.

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ECON 435. Financial Economics.

Monetary and Financial Economics

Section 001.

Instructor(s): Benjamin Remy Chabot (remy@umich.edu)

Prerequisites: Econ. 401, and 404 or 405. (4). Rackham credit requires additional work.

Credits: (4).

Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/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.

Text:

  • Capital Markets: Institutions and Instruments, 2nd ed., Fabozzi & Modigliani.

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    ECON 441. International Trade Theory.

    International Economics

    Section 001.

    Instructor(s): James A Levinsohn (jamesl@umich.edu)

    Prerequisites: Econ. 401. (3). Rackham credit requires additional work.

    Credits: (3).

    Course Homepage: No homepage submitted.

    This course deals with the theory of international trade. It explores the important theories that explain what countries trade and why they gain from trade. These theories include the theory of comparative advantage and the factor-proportions theory of trade, as well as more recent theoretical developments. The course also deals with several other related topics, such as empirical tests and applications of trade theory, the theory of trade policy, preferential trading arrangements, international factor movements, and trade and economic development. A special emphasis is placed on current policy issues in international trade.

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    ECON 442. International Finance.

    International Economics

    Section 001.

    Instructor(s): Zvi Hercowitz

    Prerequisites: Econ. 402. (4). Rackham credit requires additional work.

    Credits: (4).

    Course Homepage: No homepage submitted.

    The course covers two broad topics:

    1. Fiscal and monetary policy in an open economy This part of the course centers on the Mundell-Flemming model. Fiscal and monetary policy under flexible and fixed exchange rates. Interaction between economic policies and capital mobility. Conflicts of interests between the Central Bank and the Treasury.
    2. Saving, investment and the balance of payments The discussion here is based on a simple intertemporal framework. The households decide on consumption and saving and the firms decide on investment and capital accumulation. The effects of government spending, taxation, and deficits on national saving and the balance of payments.
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    ECON 453. The European Economy.

    Comparative Economic Systems and National Economies

    Section 001.

    Instructor(s): William J Adams (jimadams@umich.edu)

    Prerequisites: Econ. 401. (4). Rackham credit requires additional work.

    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.

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    ECON 454. Economics of Japan.

    Comparative Economic Systems and National Economies

    Section 001.

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

    Prerequisites: Econ. 101 and 102. (3). Rackham credit requires additional work.

    Credits: (3).

    Course Homepage: No homepage submitted.

    Analysis of Japan's economic organization, structure, and performance. Special emphasis is placed on the character of Japanese economic policy making and the behavior of Japanese enterprises and financial institutions, the Japanese labor force, and the Japanese household. There will also be ample discussion of Japan's international economic relations and its current macroeconomic and structural problems. Attention will be given to bilateral and multilateral conflicts in overseas product, financial, and technology markets. The course will have a lecture format, but questions are welcome. The course grade will be determined by two one-and one-half hour examinations and a final.

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    ECON 471 / NRE 571. Environmental Economics.

    Environmental Economics

    Section 001.

    Instructor(s): Gloria Helfand (ghelfand@umich.edu)

    Prerequisites: Econ. 401 or NR&E 570. (3). Rackham credit requires additional work.

    Credits: (3).

    Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/nre/571/001.nsf

    Economics 471 is a broad introduction to market failure, with theoretical, empirical, institutional, and historical perspectives on current U.S. environmental problems. This course is intended primarily for upper-division undergraduates in the economics concentration and for graduate students from outside economics (but note carefully the prerequisite comfort with calculus and a recent, challenging intermediate microeconomic theory course are essential). The format for most classes is lecture-with-interruption, with time allocated for questions and discussions. The course deals with: (1) the economic theory of externalities and public goods (and "public bads"); and (2) the economic analysis of current U.S. environmental policy, emphasizing air and water pollution and waste problems generation, collection, recycling, and disposal (emphasizing municipal solid waste, low-level radioactive waste, and Superfund). There will be regular unannounced short quizzes and a cumulative final exam.

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    ECON 481. Government Expenditures.

    Public Finance

    Section 001.

    Instructor(s): Julianne Berry Cullen (jbcullen@umich.edu)

    Prerequisites: Econ. 401. No credit granted to those who have completed or are enrolled in 380. (3). Rackham credit requires additional work.

    Credits: (3).

    Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/econ/481/001.nsf

    Economics 481 studies the role of government in the economy. Topics covered include public goods, collective choice, externalities, income redistribution, and social insurance. In considering these topics, emphasis will be placed on both theoretical issues and applications to current policy. The class format will combine lecture and discussion. Students will be evaluated based on performance on problem sets and exams. A solid grounding in microeconomics and practice with mathematical optimization will make the course more accessible.

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    ECON 482. Government Revenues.

    Public Finance

    Section 001.

    Instructor(s): Chul-In Lee

    Prerequisites: Econ. 401. No credit granted to those who have completed or are enrolled in 380. (3). Rackham credit requires additional work.

    Credits: (3).

    Course Homepage: No homepage submitted.

    No credit granted to those who have completed or are enrolled in Econ. 380. This course analyzes the equity and efficiency effects of major U.S. taxes, including the personal income tax, the corporate income tax, and the social security tax. It also examines commonly proposed tax changes.

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    ECON 485. Law and Economics.

    Other Topics in Economics

    Section 001.

    Instructor(s): Neil Harold Buchanan (nbuchana@umich.edu)

    Prerequisites: Econ. 401. (3). Rackham credit requires additional work.

    Credits: (3).

    Course Homepage: No homepage submitted.

    This course is open to (and welcomes) both pre-laws and students who are not planning to go to law school. In this course, we will critically assess the use of economics as a framework for analyzing legal issues, comparing traditional legal analysis with the alternative mode of analysis offered by the so-called Law and Economics Movement. We will study issues in a variety of areas of the law, including property, contracts, torts (injuries), and criminal law asking not just how economics might be applied to particular legal questions but to which areas of the law such applications are particularly well- or ill-suited. For example, we will analyze different ways to determine and measure liability for damages in automobile accidents, assessing the incentives that different legal rules create and asking whether it makes sense to describe an "economically efficient level of precaution against accidents." We will also examine whether the criminal law is an area in which standard economic reasoning can be squared with the inherently moral judgments that we use in defining crime and punishment. Similarly, we will examine contract law, determining what kinds of promises are legally enforced and what outcomes we might expect from alternative legal regimes. No area of the law or public policy is beyond our potential inquiry.

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    ECON 491 / HISTORY 491. The History of the American Economy.

    Economic History

    Section 001.

    Instructor(s): Warren C Whatley (wwhatley@umich.edu)

    Prerequisites: Econ. 101 and 102. (3). Rackham credit requires additional work.

    Credits: (3).

    Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/econ/491/001.nsf

    This course is designed to introduce students to major issues and topics in the history of the American Economy from colonization to the late 20th century. A course goal is to uncover the determinants of the evolution of the U. S. economy from one of scattered settlement communities to the largest economy in the world. The class format includes lectures, discussions and films. Major topics include Economics and History, American Economic Growth, The Colonial Economy and the American Revolution, Regional Economic Development, The Civil War and Aftermath, Industrial Capitalism, and the Great Depression and New Deal. Grading is based on a midterm exam and a final exam.

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    ECON 499. Independent Research.

    Honors Program, Internships, Seminars, and Independent Research

    Instructor(s):

    Prerequisites: Written permission of staff member supervising research, and permission of the economics concentration advisor. (1-4). No more than four credits may be used in an economics concentration program. Rackham credit requires additional work. (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.

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    ECON 500(553) Quantitative Methods.

    Economic Theory and Statistics

    Section 001.

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

    Prerequisites: Graduate standing. (3).

    Credits: (3).

    Course Homepage: http://www.econ.lsa.umich.edu/~stolyar/Class/Econ553/econ553.htm

    Many real-world decision problems look impossibly complex. Mathematics is a language for translating these problems into concise, exact and logical framework. The use of mathematics enables economists to describe and solve the problems that cannot be tackled effectively in any other way. A modern economist must know how to turn economic problems into mathematical problems, how to solve them, and how to interpret the results. The course will focus on general techniques of solving several important classes of mathematical problems frequently encountered in economics. In the first part of the course, we will learn the language of mathematics: how to manipulate mathematical objects such as sets, functions, graphs, derivatives, equations and matrices. The second part will describe the basic techniques of solving the systems of equations and finding the maxima of functions. The third part will introduce probability theory and elements of statistical inference. Martin, Anthony, and Norman Biggs, Mathematics for Economics and Finance, Cambridge University Press, ISBN 0-521-55913-8 Kmenta, Jan, Elements of Econometrics, 2nd ed., The University of Michigan Press, ISBN 0-472-10866-7

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    ECON 501. Microeconomic Theory.

    Economic Theory and Statistics

    Section 001.

    Instructor(s): Janet Netz (netz@umich.edu)

    Prerequisites: Econ. 401. (3). Rackham credit requires additional work.

    Credits: (3).

    Course Homepage: No homepage submitted.

    A course designed for students in the MAE program. Basic models in the principal areas of microeconomic theory are covered: consumer demand, production and costs, product markets, factor markets, allocative efficiency, and corrections for market failure. Most of the course is spent studying the use of these tools in the analysis of specific microeconomic policy problems. Application of theory to current policy problems is stressed, and a substantial amount of class time is devoted to exercises based on such problems.

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    ECON 503. Econometrics for Applied Economics.

    Economic Theory and Statistics

    Section 001.

    Instructor(s):

    Prerequisites: Graduate standing and permission of instructor. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    No Description Provided.

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    ECON 541 / PUBPOL 541. International Trade Policy.

    International Economics

    Section 001.

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

    Prerequisites: Graduate standing. This course presumes a prior knowledge of intermediate economics. (3).

    Credits: (3).

    Course Homepage: http://www.econ.lsa.umich.edu/~alandear/courses/541/541.html

    See Public Policy Studies 541.001.

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    ECON 555 / PUBPOL 555. Microeconomics.

    Other Topics in Economics

    Section 001.

    Instructor(s): James A Levinsohn (jamesl@umich.edu)

    Prerequisites: Permission of instructor. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    See Public Policy Studies 555.001.

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    ECON 573 / PUBPOL 573. Benefit-Cost Analysis.

    Other Topics in Economics

    Section 001.

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

    Prerequisites: Econ. 555. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    See Public Policy Studies 573.001.

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    ECON 586 / PUBPOL 741. Principles of Finance & Global Financial Markets.

    Monetary and Financial Economics

    Section 001.

    Instructor(s): Dominguez

    Prerequisites: Graduate standing, Permission of instructor and IPPS 555 or Econ. 501. (3).

    Credits: (3).

    Course Homepage: http://www-personal.umich.edu/~kathrynd/spp741page.html

    See Public Policy Studies 741.001.

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    ECON 599. Special Tutorial.

    Honors Program, Internships, Seminars, and Independent Research

    Instructor(s):

    Prerequisites: Graduate standing and permission of instructor. (1-3). (INDEPENDENT).

    Credits: (1-3).

    Course Homepage: No homepage submitted.

    No Description Provided.

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    ECON 600. Math for Economists.

    Economic Theory and Statistics

    Section 001.

    Instructor(s): Emre Ozdenoren (emreo@umich.edu)

    Prerequisites: Graduate standing and permission of instructor. Highly recommended for students taking 601 and required for all Ph.D. students in Economics. (4).

    Credits: (4).

    Course Homepage: http://www-personal.umich.edu/~ktakeuch/ECON600/index.html

    No Description Provided.

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    ECON 601. Microeconomic Theory I.

    Economic Theory and Statistics

    Section 001 Meets Sept 5 Oct 23.

    Instructor(s): Emre Ozdenoren (emreo@umich.edu)

    Prerequisites: Econ 600, Graduate standing and permission of instructor. (1.5).

    Credits: (1.5).

    Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/econ/601/001.nsf

    No Description Provided.

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    ECON 602. Microeconomic Theory II.

    Economic Theory and Statistics

    Section 001 Meets Oct 23 Dec 19.

    Instructor(s): Lones Smith (lones@umich.edu)

    Prerequisites: Econ 601. (1.5).

    Credits: (1.5).

    Course Homepage: http://www.umich.edu/~lones/teach.html

    This course studies the foundations of decision theory and game theory. In the first two weeks, we introduce the von Neumann Morgenstern cardinal utility model, the Allais and Ellsberg Paradoxes, risk aversion, and stochastic dominance theorems, as well as time inconsistent preferences. The rest of the course is a game theory primer: Strategic and extensive form games of complete and incomplete information, and their associated equilibrium concepts from rationalizability, through Nash and Subgame perfect equilibrium, sequential equilibrium, and the intuitive refinement. We study examples from auctions, dynamic social interaction, bargaining, timing games, and job market signalling. Students emerge from the course able to scale ice cliffs with their bare hands.

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    ECON 607. Macroeconomic Theory II.

    Economic Theory and Statistics

    Section 001.

    Instructor(s): Susanto Basu (sbasu@umich.edu)

    Prerequisites: Econ 600. Graduate standing. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    No Description Provided.

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    ECON 611. Stabilization Policy.

    Other Topics in Economics

    Section 001.

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

    Prerequisites: Econ. 602 and 604; 611. Graduate standing. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    No Description Provided.

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    ECON 617(618). Game Theory.

    Economic Theory and Statistics

    Section 001.

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

    Prerequisites: Econ 600, 601, 602, 603, 604, and 609. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    No Description Provided.

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    ECON 621. Labor Economics I.

    Labor Economics

    Section 001.

    Instructor(s): John Bound (jbound@umich.edu)

    Prerequisites: Econ. 601, 603, 673, 674. Graduate standing. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    No Description Provided.

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    ECON 631. Industrial Organizations and Public Policy.

    Industrial Organization and Public Control

    Section 001.

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

    Prerequisites: Econ. 601 and 603 and Graduate standing. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    No Description Provided.

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    ECON 641. International Trade Theory.

    International Economics

    Section 001.

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

    Prerequisites: Econ. 601 and 603. Graduate standing. (3).

    Credits: (3).

    Course Homepage: http://www.econ.lsa.umich.edu/~alandear/courses/641/641.html

    This is a graduate course in international trade, the real part of international economics. That means that we abstract from anything that involves money, dealing only with the microeconomic behavior that responds to and determines relative prices. Econ 615, variously called International Finance, International Macroeconomics, and International Monetary Economics, includes the monetary part of international economics. In this course, we will study the determinants and real effects of international trade and the policies that are used to influence trade. We will also touch, to a lesser extent, on other international real transactions, such as international migration and direct investment.

    Prerequisite: You should have completed Econ 601 and either have completed or be currently taking Econ 603. It would also be desirable for you to have completed or be taking the first-year sequence in econometrics. A working knowledge of undergraduate-level international trade will be very helpful, but since we start at the beginning of the topic, that is not essential. If you have never had another course in international economics, however, you would be wise to pick up a copy of a good undergraduate text and follow along in it as the course progresses.

    TEXT: There is no textbook for the course, which will draw mostly on lectures, journal articles, and working papers. We will use enough chapters of the following two books, however, that I have ordered them as required purchases: Helpman, Elhanan and Paul Krugman, 1986 Market Structure and Foreign Trade, MIT Press. Leamer, Edward, ed., 2001 International Economics, Worth Publishers. In addition, I strongly recommend that you buy the following text: Dixit, Avinash K. and Victor Norman 1980 Theory of International Trade, Cambridge Univ. Press.

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    ECON 662 / NRE 669. Environmental Economics.

    Environmental Economics

    Section 001.

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

    Prerequisites: Econ. 501or 603, 653. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    In the presence of pollution externalities, market allocations are typically inefficient and corrective government regulation may be desirable. This course first reviews solutions favored by economists, namely Pigovian taxes, tradable pollution permits, and judicial remedies, but then points out various real-world informational, technological, and political constraints that make such solutions difficult or impossible to implement in practice. The course then focuses on optimal interventions in the presence of these real-world constraints. Topics discussed are likely to include (1) optimal regulation when firms possess more information about compliance costs than regulators; (2) optimal enforcement of regulations when monitoring is costly; (3) non-market methods of measuring environmental and resource values; and (4) the interrelationship of environmental issues and international trade.

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    ECON 663 / HISTORY 622. European Economic History.

    Economic History

    Section 001.

    Instructor(s):

    Prerequisites: Economics 401 and 402. Graduate standing. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    No Description Provided.

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    ECON 665. Economic Development of Underdeveloped Countries.

    Economic Development

    Section 001.

    Instructor(s): Svejnar (coldman@umich.edu)

    Prerequisites: Graduate standing. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    No Description Provided.

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    ECON 671(673) / STATS 505. Econometric Analysis I.

    Economic Theory and Statistics

    Section 001.

    Instructor(s): Howrey

    Prerequisites: Graduate standing and permission of instructor. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    See Statistics 505.001.

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    ECON 678(775) / STATS 575. Econometric Theory I.

    Economic Theory and Statistics

    Section 001.

    Instructor(s): Shinichi Sakata (ssakata@umich.edu)

    Prerequisites: Econ. 671, 672, and 600. (3).

    Credits: (3).

    Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/econ/678/001.nsf

    See Statistics 575.001.

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    ECON 683. Government Expenditures.

    Public Finance

    Section 001.

    Instructor(s): Julianne Berry Cullen (jbcullen@umich.edu)

    Prerequisites: Econ. 601. Graduate standing. (3).

    Credits: (3).

    Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/econ/683/001.nsf

    Emphasizes theory and evidence on government expenditure policy. Topics covered include the theory of public goods, state and local public goods, welfare economics and income redistribution, political economy and voting mechanisms, and the design and evaluation of social insurance programs.

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    ECON 695. Introduction to Economic Research I.

    Honors Program, Internships, Seminars, and Independent Research

    Section 001.

    Instructor(s): Lones A Smith (lones@umich.edu), Robert B Barsky (barksy@umich.edu)

    Prerequisites: Graduate standing and permission of instructor. (3).

    Credits: (3).

    Course Homepage: http://www-personal.umich.edu/~lones/teach.html

    This course is designed to introduce third-year students to the fine art of "how to do economic research". Students will be required to produce a polished research paper by the end of the course which can be incorporated into their thesis. An introductory class will focus on how local superstars became the sages they are, in their mastery such of the tools of the trade: bibliographic methods, data analysis, and economic modeling, but most of the effort will be involved in writing the research paper.

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    ECON 700. Research.

    Honors Program, Internships, Seminars, and Independent Research

    Instructor(s):

    Prerequisites: Permission of graduate advisor. Graduate standing. (1-6). (INDEPENDENT).

    Credits: (1-6).

    Course Homepage: No homepage submitted.

    No Description Provided.

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    ECON 739 / PUBPOL 747. Topics in International Economic Policy.

    International Economics

    Section 001 The International Financial System: Problems and Prospects for Reform. Meets Sept. 11, 2001 Oct 16, 2001. (2 Credits). (Drop/Add deadline=September 25).

    Instructor(s): Robert M Stern (rmstern@umich.edu)

    Prerequisites: Economics/SPP 540 and Graduate standing. (2-4). May be repeated for credit.

    Mini/Short course

    Credits: (2-4).

    Course Homepage: http://www-personal.umich.edu/~rmstern/section1/747info.htm

    See Public Policy Studies 747.001.

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    ECON 739 / PUBPOL 747. Topics in International Economic Policy.

    International Economics

    Section 002 Issues in the WTO Multilateral Trade Negotiations. Meets Oct. 23 Dec. 11. (2 Credits). (Drop/Add deadline=November 5).

    Instructor(s): Robert M Stern (rmstern@umich.edu)

    Prerequisites: Economics/SPP 540 and Graduate standing. (2-4). May be repeated for credit.

    Mini/Short course

    Credits: (2-4).

    Course Homepage: http://www-personal.umich.edu/~rmstern/section1/747info.htm

    See Public Policy Studies 747.002.

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    ECON 811(711). Seminars in Monetary Theory.

    Monetary and Financial Economics

    Section 001.

    Instructor(s): Robert B Barsky (barksy@umich.edu) , Matthew D Shapiro (shapiro@umich.edu)

    Prerequisites: Graduate standing and permission of instructor. (2).

    Credits: (2).

    Course Homepage: http://www.econ.lsa.umich.edu/~shapiro/seminar/macro.html

    The Seminars in Monetary Theory are devoted to critical discussion of new research in the field. Each week an original research study is presented by a graduate students, a Michigan faculty member, or a faculty member visiting from another university.

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    ECON 821(721). Seminars in Labor Economics.

    Labor Economics

    Section 001.

    Instructor(s): Charles C Brown (charlieb@umich.edu)

    Prerequisites: Graduate standing and permission of instructor. (2).

    Credits: (2).

    Course Homepage: http://www.econ.lsa.umich.edu/Research/labor.html

    The Seminars in Labor Economics are devoted to critical discussion of new research in the field. Each week an original research study is presented by a graduate students, a Michigan faculty member, or a faculty member visiting from another university.

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    ECON 825 / HISTORY 825 / ANTHRCUL 825 / CHIN 825 / POLSCI 825 / SOC 825. Seminar in Chinese History and Society.

    Economic History

    Instructor(s):

    Prerequisites: Either language knowledge (Chinese or Japanese) or Hist. 544 or Pol. Sci. 455. Graduate standing. (3). (INDEPENDENT).

    Credits: (3; 2 in the half-term).

    Course Homepage: No homepage submitted.

    See History 825.

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    ECON 831(731). Seminars in Public Policy toward Business.

    Industrial Organization and Public Control

    Section 001.

    Instructor(s): Kai-Uwe Kuhn (kukuhn@umich.edu), Illoong Kwon (ilkwon@umich.edu)

    Prerequisites: Graduate standing and permission of instructor. (2).

    Credits: (2).

    Course Homepage: No homepage submitted.

    The Seminars in Public Policy toward Business are devoted to critical discussion of new research in the field. Each week an original research study is presented by a graduate students, a Michigan faculty member, or a faculty member visiting from another university.

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    ECON 835. Seminar in Natural Resource Economics.

    Environmental Economics

    Section 001.

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

    Prerequisites: Graduate standing and permission of instructor. (3).

    Credits: (3).

    Course Homepage: http://www.econ.lsa.umich.edu/~kvtveld/nre/

    No Description Provided.

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    ECON 841. Research Seminar in International Economics.

    Honors Program, Internships, Seminars, and Independent Research

    Section 001.

    Instructor(s): Linda L Tesar (ltesar@umich.edu) , Alan V (alandear@umich.edu), Deardorff

    Prerequisites: Graduate standing. (3). (INDEPENDENT).

    Credits: (3).

    Course Homepage: http://www.spp.umich.edu/rsie/seminar/schedule.html

    No Description Provided.

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    ECON 851. Advanced Economic Theory.

    Economic Theory and Statistics

    Section 001.

    Instructor(s): Lones A Smith (lones@umich.edu) , Ennio S Stacchetti (ennio@umich.edu)

    Prerequisites: Graduate standing. (3).

    Credits: (3).

    Course Homepage: http://www-personal.umich.edu/~lones/seminar.html

    This is not really a course at all, but a research seminar. Here you enjoy the best economic theory research that Ann Arbor money can buy from around the world. Students enrolled are encouraged not to be silent during the seminars, but to ask piercing questions that display deep understanding, as well as help the seminar speaker.

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    ECON 859(759). Seminars in Comparative Economic Development.

    Comparative Economic Systems and National Economies

    Section 001.

    Instructor(s): Coleman

    Prerequisites: Graduate standing. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    The Seminars in Comparative Economic Development are devoted to critical discussion of new research in the field. Each week an original research study is presented by a graduate students, a Michigan faculty member, or a faculty member visiting from another university.

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    ECON 864. Seminar in Economic History.

    Economic History

    Section 001.

    Instructor(s): Warren C Whatley (wwhatley@umich.edu), Chabot

    Prerequisites: Graduate standing. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    No Description Provided.

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    ECON 875. Research Seminar in Quantitative Economics.

    Honors Program, Internships, Seminars, and Independent Research

    Instructor(s): Shinichi Sakata (ssakata@umich.edu)

    Prerequisites: Econ. 673, 674. Graduate standing. (3). (INDEPENDENT).

    Credits: (3).

    Course Homepage: http://rsqe.econ.lsa.umich.edu/

    No Description Provided.

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    ECON 881(781). Seminars in Public Finance.

    Public Finance

    Section 001.

    Instructor(s): Julianne Berry Cullen (jbcullen@umich.edu), Roger H Gordon

    Prerequisites: Graduate standing and permission of instructor. (3).

    Credits: (3).

    Course Homepage: No homepage submitted.

    The Seminars in Public Finance are devoted to critical discussion of new research in the field. Each week an original research study is presented by a graduate students, a Michigan faculty member, or a faculty member visiting from another university.

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    ECON 990. Dissertation/Precandidate.

    Honors Program, Internships, Seminars, and Independent Research

    Instructor(s):

    Prerequisites: Election for dissertation work by doctoral student not yet admitted as a Candidate. Graduate standing. (1-8). (INDEPENDENT). May be repeated for credit.

    Credits: (1-8; 1-4 in the half-term).

    Course Homepage: No homepage submitted.

    Election for dissertation work by doctoral student not yet admitted as a Candidate.

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    ECON 995. Dissertation/Candidate.

    Honors Program, Internships, Seminars, and Independent Research

    Instructor(s):

    Prerequisites: Graduate School authorization for admission as a doctoral Candidate. Graduate standing. (8). (INDEPENDENT). May be repeated for credit.

    Credits: (8; 4 in the half-term).

    Course Homepage: No homepage submitted.

    Graduate School authorization for admission as a doctoral Candidate. N.B. The defense of the dissertation (the final oral examination) must be held under a full term Candidacy enrollment period.

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    Undergraduate Course Listings for ECON.


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