College of LS&A

Winter Academic Term '02 Graduate Course Guide

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Courses in Economics


This page was created at 4:33 PM on Fri, Mar 22, 2002.

Winter Academic Term, 2002 (January 7 - April 26)

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

Winter Academic Term '02 Time Schedule for Economics.


ECON 401. Intermediate Microeconomic Theory.

Economic Theory and Statistics

Section 001 EVENING EXAMS FEB 13 AND MAR 13, 8-10 PM.

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://coursetools.ummu.umich.edu/2002/winter/econ/401/001.nsf

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: 3 Waitlist Code: 1

ECON 402. Intermediate Macroeconomic Theory.

Economic Theory and Statistics

Section 001.

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

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

Credits: (4).

Course Homepage: http://coursetools.ummu.umich.edu/2002/winter/econ/402/001.nsf

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.

Economics 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 001.

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

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/2002/winter/econ/404/001.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 404. Statistics for Economists.

Economic Theory and Statistics

Section 004.

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/2002/winter/econ/404/004.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): Michael B Woodroofe (michaelw@umich.edu)

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: No homepage submitted.

See Statistics 405.001.

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ECON 406. Introduction to Econometrics.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Econ. 405 or Statistics 426. (4). Rackham credit requires additional work.

Credits: (4).

Course Homepage: http://coursetools.ummu.umich.edu/2002/winter/econ/406/001.nsf

Econometrics consists of statistical methods commonly used in empirical economic research. With the basics of statistics and probability covered in Economics 405, Economics 406 proceeds to an in-depth treatment of the theory and practice of multiple regression analysis.

The course begins with the multiple regression model under ideal conditions and then goes on to detailed consideration of departures from the ideal conditions as well as a brief introduction to nonlinear regression models. The 405-406 sequence covers econometrics in greater depth and breadth than Economics 404. Students electing Economics 406 should have completed Math 116, Economics 101-102, and either Economics 405 or Statistics 426. Grade will be based on exams and homework exercises. Textbook: Introductory Econometrics: A Modern Approach 2000 Wooldridge, Jeffrey M. S-Western College Publishing.

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ECON 409. Game Theory.

Economic Theory and Statistics

Section 001.

Instructor(s): Subir Bose (bsubir@umich.edu)

Prerequisites: Math. 217. (3).

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2002/winter/econ/409/001.nsf

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 431. Industrial Organization and Performance.

Industrial Organization and Public Control

Section 001.

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

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

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/~stolyar/Class/Econ431/econ431.htm

This is a theoretical course in modern industrial organization. Many real-world firms are trying to manipulate their rivals or consumers. We will study the functioning of the markets by analyzing behavior of non-competitive firms. We will learn the tools of microeconomics and game theory to develop strategic thinking and understand how firms make their decisions. We will use these theoretical insights to explain observed features of particular markets and industries.

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ECON 432. Government Regulation of Industry.

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/2002/winter/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.

Textbooks:
Industrial Economics: Economic Analysis & PP 2nd ed Martin, Stephen Prentice Hall 0-02-376786

Economics of Regulation and Antitrust 3rd edViscusi, VernonMIT Press

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ECON 434. Corporate Financial Economics.

Monetary and Financial Economics

Section 001 This course cannot be taken for credit if you have already taken Econ 411 in Fall 2000, Winter 2001, or Fall 2001

Instructor(s): Subir Bose (bsubir@umich.edu)

Prerequisites: Econ. 401, and Econ. 404 or 405. (3).

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2002/winter/econ/434/001.nsf

The course is about decision making within corporations. This has two components investment, or capital budgeting, and financing, or capital structure. We start with capital budgeting and devote a fair amount of time to understanding the NPV criterion under various alternative scenarios. Then, we study the question of capital structure topics include issue of securities, debt and dividend policies, the celebrated Modigliani-Miller theorem. In addition, we examine a few advanced topics like options, and mergers and acquisitions. We also cover incentives and conflict-of-interest inside a corporation. We show how different objectives of bondholders and stockholders may influence the efficient running of the firm (especially during times of financial distress). Use is made of some of the more recent developments in agency theory to study in depth the issue of managerial compensation. The topics covered in this course complement those covered in Economics 435: Financial Economics. Students interested in modern financial theory are encouraged to take both classes.

This course cannot be taken for credit if you have already taken Econ 411 in Fall 2000, Winter 2001, or Fall 2001.

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ECON 442. International Finance.

International Economics

Section 001.

Instructor(s): Andrew M Coleman (coldman@umich.edu)

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

Credits: (4).

Course Homepage: http://coursetools.ummu.umich.edu/2002/winter/econ/442/001.nsf

The course is designed to provide students with an introduction to international finance that can be used in a career in banking, finance, government, or international trade. The course examines the key financial markets and instruments that are used to hedge risk and facilitate international trade and investment. It presents the standard theoretical models that are used to determine the value of exchange rates and to price other contracts such as futures and options, and then evaluates these models using statistical techniques. Various historical and contemporary examples are analysed to demonstrate the use of different risk management strategies. The course uses a variety of mathematical and statistical techniques including regression analysis to interprete international financial data. No statistical background is assumed, but various practical skills will be developed throughout the course. The assessment will comprise a mixture of problem sets, exams, and an assignment.

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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 461. The Economics of Development I.

Economic Development

Section 001.

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

Prerequisites: Econ. 401. No credit granted to those who have completed or are enrolled in 360. (3). Rackham credit requires additional work.

Credits: (3).

Course Homepage: No homepage submitted.

Most people live in "poor countries" with much lower average incomes (as well as worse health and education indexes) than the United States and other "rich countries" and this disparity has generally continued to widen. 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 who are worst off. A further focus is potential implications of global development in the more developed countries.

The main textbook for the course is Development Economics by Debraj Ray (Princeton University Press).

Evaluation for the course is based on midterm and final examinations and two papers, a short paper (c. 1,250 words) early in the course and a longer term paper (c. 3,000 words). The short paper treats a currently controversial development economics topic; the term paper (focused on a less developed country of the student's choice) is a research-based policy recommendation paper.

Class discussion both in the classroom and on the class email group list is very strongly encouraged.

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ECON 472. Intermediate Natural Resource Economics.

Environmental Economics

Section 001.

Instructor(s): Michael R Moore

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

Credits: (3).

Course Homepage: No homepage submitted.

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.

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ECON 476 / CAAS 457. Political Economy of Black America.

Other Topics in Economics

Section 001.

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

Prerequisites: Econ. 101. AAS 201 recommended. (3). Rackham credit requires additional work.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2002/winter/econ/476/001.nsf

See CAAS 457.001.

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ECON 482. Government Revenues.

Public Finance

Section 001.

Instructor(s): Joel B Slemrod (jslemrod@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/2002/winter/econ/482/001.nsf

This course analyzes the major U.S. federal taxes, including the personal income tax, the corporate income tax, and the estate tax, in terms of their effect on the economy and how equitable they are. It also examines and evaluates commonly proposed tax changes, such as a flat tax and a national retail sales tax.

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ECON 492. World Economic History.

Comparative Economic Systems and National Economies

Section 001.

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

Prerequisites: Econ. 401 and 404 (or 406). (3). Rackham credit requires additional work.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2002/winter/econ/492/001.nsf

Examines the causes and consequences of world economic development. Topics include: the effects of the agricultural and industrial revolutions, law, global integration, and finance on economic growth and standards of living.

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ECON 494 / HISTORY 494. Topics in Economic History.

Economic History

Section 001 Economic History of Japan.

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

Prerequisites: Econ. 101 and 102. (3).

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. 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: No Data Given.

ECON 502. Applied Macroeconomics.

Other Topics in Economics

Section 001.

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

Prerequisites: Econ. 402 and Graduate standing. (3).

Credits: (3).

Course Homepage: No homepage submitted.

A course designed for students in the MAE program. Approximately one-third of the course is spent reviewing and elaborating on standard macro theory of the sort covered in an advanced undergraduate course. The remainder of the time is spent on applications of this theory to problems of stabilizing aggregate demand, unemployment and inflation, economic growth, and macroeconomics of open economies. Students will normally do a computer project involving hypothesis testing or model simulation.

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ECON 503. Econometrics for Applied Economics.

Economic Theory and Statistics

Section 001.

Instructor(s): Chul In Lee

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

Credits: (3).

Course Homepage: No homepage submitted.

An introduction to econometric methods and their use in policy analysis. Most of the course focuses on multiple regression analysis, beginning with ordinarry least squares estimation and then considering the implications and treatment of serial correlation, heteroskedasticity, specification error, and measurement error. The course also provides an introduction to simultaneous equations models and models for binary dependent variables.

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ECON 542(540) / PUBPOL 540. International Financial Policy.

Section 001.

Instructor(s): Kathryn Mary Dominguez (kathrynd@umich.edu)

Prerequisites: Econ. 555. Presumes prior or concurrent knowledge of intermediate macroeconomics. (3).

Credits: (3).

Course Homepage: http://www-personal.umich.edu/~kathrynd/PUBPOL542page.html

See Public Policy 540.001.

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ECON 556 / PUBPOL 556. Macroeconomics.

Other Topics in Economics

Section 001.

Instructor(s): Kathryn Mary Dominguez (kathrynd@umich.edu)

Prerequisites: Permission of instructor. (3).

Credits: (3).

Course Homepage: http://www-personal.umich.edu/~kathrynd/spp556page.html

See Public Policy 556.001.

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ECON 571 / PUBPOL 571. Applied Econometrics.

Economic Theory and Statistics

Section 001 is for Public Policy Students.

Instructor(s): John Di Nardo (jdinardo@umich.edu)

Prerequisites: Graduate standing. (3).

Credits: (3).

Course Homepage: https://coursetools.ummu.umich.edu/2002/winter/pubpol/571/001.nsf

See Public Policy 571.001.

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ECON 571 / PUBPOL 571. Applied Econometrics.

Economic Theory and Statistics

Section 002 Section 002 is for Economics Students.

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

Prerequisites: Graduate standing. (3).

Credits: (3).

Course Homepage: No homepage submitted.

This course is an introduction to econometric methods and their use in policy analysis. Most of the course focuses on multiple regression analysis, beginning with ordinary least squares estimation, and then considers the implications and treatment of serial correlation, heteroskedasticity, specification error, and measurement error. The course also provides an introduction to simultaneous equations models, time series analysis, models for binary dependent variables, and methods for longitudinal analysis.

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ECON 572 / PUBPOL 572. Policy Models.

Economic Theory and Statistics

Section 001.

Instructor(s): John Di Nardo (jdinardo@umich.edu)

Prerequisites: Public Policy 571. Graduate standing. (3).

Credits: (3).

Course Homepage: https://coursetools.ummu.umich.edu/2002/winter/pubpol/572/001.nsf

See Economics 572.001.

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ECON 573 / PUBPOL 573. Benefit-Cost Analysis.

Other Topics in Economics

Section 001.

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

Prerequisites: Econ. 555. (3).

Credits: (3).

Course Homepage: No homepage submitted.

See Public Policy 573.001.

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ECON 603. Microeconomic Theory III.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Econ 602. (1.5).

Credits: (1.5).

Course Homepage: No homepage submitted.

General Equilibrium. Exchange economies; production economies; the 2X2 production model. Existence and welfare theorems. Positive theory of equilibrium. The core. General equilibrium under uncertainty; incomplete markets.

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ECON 604. Microeconomic Theory IV.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Econ 603. (1.5).

Credits: (1.5).

Course Homepage: No homepage submitted.

Incentives and welfare. Market power. Adverse selection, moral hazard, and principal-agent models. Mechanism design, optimal auctions. Social choice theory.

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ECON 605. Macroeconomic Theory I.

Economic Theory and Statistics

Section 001.

Instructor(s): John P Laitner (jlaitner@umich.edu)

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

Credits: (3).

Course Homepage: No homepage submitted.

Begins with an overview of aggregate income determination. It continues with an in-depth treatment of dynamic models: the Solow, neoclassical, and new growth models. The course proceeds with an introduction to rational expectations models and techniques with application to output determination and price adjustment in closed and open economies.

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ECON 609. Advanced Mathematical Models for Macroeconomics.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Graduate standing; Econ. 600 or permission of instructor. (1.5).

Credits: (1.5).

Course Homepage: No homepage submitted.

Covers advanced methods in optimal control, dynamic programming, monotone comparative statics and von Neumann-Morgenstern decision theory, preservations of properties under expectations and maximization, Boyd's symmetry theorem, and convex cone methods. The course emphasizes developing an intuitive understanding of the methods by proof-sketches, solved examples, and provlem sets rather than fully formal proofs.

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ECON 610. Stochastic Dynamic Optimization in Economics.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Econ. 600; graduate standing. (1.5).

Credits: (1.5).

Course Homepage: No homepage submitted.

This course studies optimal stochastic dynamic optimization in discrete and continuous time. The focus is on optimal stopping and control. The discrete time theory explores discounted, positive, and negative stochastic dynamic programming with applications to gambling, search theory, and multiarmed bandits. The continuous time portion first develops the math underlying Brownian motion, diffusions, Ito integrals, stochastic boundary value problems, and stochastic differential equations. It then investigates optimal stopping, smooth pasting, and optimal stochastic control. Applications to irreversible decision making in investment, exchange rate target zones, learning and R&D, and options are considered.

Course evaluation is by three in-class quizzes, a final, and a computer assignment.

Prerequisite: ECON 600, or solid undergraduate math background (calculus and probability)

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ECON 612. Stabilization Policy.

Other Topics in Economics

Section 001.

Instructor(s): Christopher L House (chouse@umich.edu)

Prerequisites: Economics 611. Graduate standing. (3).

Credits: (3).

Course Homepage: No homepage submitted.

This course examines selected issues in macroeconomics and monetary economics. The main topics we will focus on are: computational methods used in solving dynamic macroeconomic models, basic RBC models, dynamic models of price and wage rigidity, and the relationship of market imperfections to macroeconomic dynamics. Students may be asked to make presentations of recent research in related areas. If time permits, we also will cover some basic monetary theory.

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ECON 619. Monotone Comparative Statics.

Section 001.

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

Prerequisites: Permission of instructor. (1.5). May be repeated for credit.

Credits: (1.5).

Course Homepage: No homepage submitted.

This course studies modern lattice-theoretic methods of supermodularity and comparative statics. It then explores stochastic orders, and extends the monotone comparative statics to uncertainty. It explores total positivity, including log-supermodularity. Finally, it contrasts the foundations and recent work on value and demand for information, and how to rank informative signals.

Course evaluation is by assignments and a final exam.

Prerequisites: ECON 600 or very solid math background (calculus, linear algebra, and probability).

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ECON 620. Advanced Theory.

Section 001 Frontier Economic Paradigms of Dynamic Microeconomics.

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

Prerequisites: Permission of instructor. (1.5). May be repeated for credit.

Credits: (1.5).

Course Homepage: No homepage submitted.

We explore two frontier economic paradigms of dynamic microeconomics: Optimal learning and experimentation (including models of informational herding, financial timing, and informational demand) and dynamic search-matching models. Students learn how to leap tall buildings in a single bound.

Course evaluation is by assignments and a final.

Prerequisite: Economics 619.

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ECON 622. Labor Economics II.

Labor Economics

Section 001.

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

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

Credits: (3).

Course Homepage: No homepage submitted.

This course presents recent research on a number of labor-market topics, with some emphasis on questions that are related to government policies and/or that have generated a significant empirical literature. Likely topics include labor unions, minimum wage laws, compensation policies and productivity, wage indexation, and discrimination and equal-opportunity laws.

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ECON 632. Industrial Organizations and Public Policy.

Industrial Organization and Public Control

Section 001.

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

Prerequisites: Econ. 674, 674, and 631; and Graduate standing. (3).

Credits: (3).

Course Homepage: No homepage submitted.

This course emphasizes antitrust policy, regulation, and public enterprise particularly in the U.S. Antitrust is the primary focus; its three main parts include the treatment of established market dominance, of mergers, and of collusion and unilateral actions against competitors. Utility regulation includes controls of prices and investment, with various side-effects on efficiency and investment policies. Deregulation is also discussed at some length. There may be coverage of social regulation, weapons buying, patents and other special cases, in addition to public enterprise.

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ECON 642(615). International Finance.

Monetary and Financial Economics

Section 001.

Instructor(s): Linda L Tesar (ltesar@umich.edu)

Prerequisites: Econ. 605 and 607. Graduate standing. (3).

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/~ltesar/classes/econ642/page642.htm

This is a second-year graduate course in international finance and macroeconomics. Topics covered in the course are saving-investment-current account dynamics, international business cycles, international risksharing and home bias, purchasing power parity, models of exchange rate determination, balance of payments crises and exchange rate stabilization programs.

Reference materials for the couse are: Foundations of International Macroeconomics, by Maurice Obstfeld and Kenneth Rogoff, Cambridge, MA, MIT Press, 1996. (Denoted by FIM in the readings below.) The Handbook of International Economics, ed. by Gene Grossman and Kenneth Rogoff, North Holland -Elsevier Press, 1996 (denoted HIE below.) The Handbook will be placed on reserve in Foster Library.

Requirements: Classes meet twice per week. Course requirements consist of a paper (50%) and a final exam (50%). Ungraded problem sets will be distributed throughout the academic term. The paper is due during finals week and must be in a format suitable for submission to a journal. The purpose of the paper is to replicate the results of an article in international finance that has been published in a top general interest or international economics journal. You may choose an empirical paper and replicate the tables reported in the paper. Alternatively, you may choose an article that uses numerical methods, and you must reproduce the numerical solution or simulations. In either case, the article you wish to replicate and the proposed content of your paper must be cleared with me by the sixth week of the academic term. A useful website is "The Quantitative Macroeconomics and Real Business Cycle Home Page (http://ideas/uqam.ca/QMRBC) which contains links to papers, datasources and computer programs. If you decide to replicate a paper using a numerical method and the website already provides the code that replicates the results of a particular journal article, obviously you WILL NOT receive credit for a replicating those results.

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ECON 664 / HISTORY 623. Problems in American Economic History.

Economic History

Section 001.

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

Prerequisites: Economics 401, 402, and 405 or equivalent. Graduate standing. (3).

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2002/winter/econ/664/001.nsf

This course covers the history of the American economy from colonial times to the present with an emphasis on demonstrating how the past continues to influence the structure of today's economy. It covers issues like American slavery, labor history, the rise of big business, the Great Depression, the industrial revolution, monetary history, demographic history and the history of technological change. Consideration is also given to topics in political economy such as war, worker discontent and government intervention.

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ECON 666. Economic Development of Underdeveloped Countries.

Economic Development

Section 001.

Instructor(s): Andrew M Coleman (coldman@umich.edu)

Prerequisites: Econ. 665. (3).

Credits: (3).

Course Homepage: No homepage submitted.

Advanced topics in development economics, including theoretical models of agricultural household labor supply, consumption, and production; policies regarding taxation, public expenditure, migration, population, and trade; theoretical and empirical analysis of income distribution.

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ECON 669. Economy of Japan.

Comparative Economic Systems and National Economies

Section 001.

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

Prerequisites: "Econ. 501, 502, and 571, or equivalent." Graduate standing. (3).

Credits: (3).

Course Homepage: No homepage submitted.

No Description Provided

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ECON 672(674). Econometric Analysis II.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Econ. 671. (3).

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/~ssakata/courses/info/econ672/syllabus.html

Econ 671 and 672 form the basic required sequence in econometrics for all doctoral students. Their purpose is to provide Ph.D. students with the training needed to do the basic quantitative analysis generally understood to be part of the background of all modern economists. This includes: the theory and practice of testing hypotheses, statistical estimation theory, the basic statistical theory underlying the linear model, an introduction to econometric methods, and the nature of the difficulties which arise in applying statistical procedures to economic research problems.

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ECON 675. Applied Microeconometrics.

Economic Theory and Statistics

Section 001.

Instructor(s): Gary Rand Solon (gsolon@umich.edu)

Prerequisites: Economics 671 and 672; Graduate standing. (3).

Credits: (3).

Course Homepage: No homepage submitted.

The purposes of the course are (1) to discuss types of microeconometric models likely to be useful in dissertation (and subsequent) research, and (2) to provide some supervised experience in applied econometric research. The course's topics vary from year to year, but they typically include models for discrete and limited dependent variables and methods for analysis of longitudinal data.

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ECON 676. Applied Macroeconometrics.

Economic Theory and Statistics

Section 001.

Instructor(s): Matthew D Shapiro (shapiro@umich.edu)

Prerequisites: Economics 671 and 672; Graduate standing. (3).

Credits: (3).

Course Homepage: No homepage submitted.

The aim of this course is to equip students with a working knowledge of important econometric techniques used in macroeconomics economics, financial economics, international economics, and econometric theory.

Prerequisite: Ph.D.-level Econometrics.

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ECON 677 / STATS 531. Analysis of Time Series.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Stat. 426. (3).

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2002/winter/stats/531/001.nsf

See Statistics 677.001.

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ECON 679(776) / STATS 576. Econometric Theory II.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Econ. 678. (3).

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/~ssakata/courses/info/econ679/syllabus.html

See Statistics 576.001.

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ECON 684. Government Revenues.

Public Finance

Section 001.

Instructor(s): Joel B Slemrod (jselmrod@umich.edu) , James R Hines Jr

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

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2002/winter/econ/684/001.nsf

Provides a positive and normative analysis of alternative government revenue sources. The first part of the course explores theoretical analyses of the incidence, efficiency costs, and distributional effects, of alternative tax systems. The rest of the course examines the implications of existing tax law in the U.S., and commonly proposed revisions in the law, for the allocation of resources in the economy.

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ECON 696. Introduction to Economic Research II.

Honors Program, Internships, Seminars, and Independent Research

Section 001.

Instructor(s):

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

Credits: (3).

Course Homepage: No homepage submitted.

This course is designed to introduce third-year students to "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. Some class time will focus on topics such as 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 795 / REES 795 / HISTORY 795 / POLSCI 795 / GEOG 795 / RUSSIAN 795. Research Seminar in Russian and East European Studies.

Honors Program, Internships, Seminars, and Independent Research

Instructor(s): Jane R Burbank (jburbank@umich.edu)

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

Credits: (3).

Course Homepage: No homepage submitted.

See Russian and East European Studies (REES) 795.

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ECON 811(711). Seminars in Monetary Theory.

Monetary and Financial Economics

Section 001.

Instructor(s): Matthew D Shapiro (shapiro@umich.edu)

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

Credits: (2).

Course Homepage: No homepage submitted.

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): 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 Topic?

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/

The Seminars in Natural Resource 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 841. Research Seminar in International Economics.

Honors Program, Internships, Seminars, and Independent Research

Section 001.

Instructor(s):

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

Credits: (3).

Course Homepage: No homepage submitted.

The Research Seminar in International Economics is a University of Michigan center that is operated jointly by the School of Public Policy and the Department of Economics. It was founded by Professor Robert M. Stern in the Department of Economics in 1963. It has been distributing discussion papers since 1968, and it became affiliated with the School of Public Policy in 1980. The activities of the Research Seminar include a weekly seminar or workshop, an ongoing program of faculty and graduate student research, linkages with developing country institutions, conferences involving academics and policy makers, training of graduate students specializing in international economics and international economic law, and the distribution of a series of RSIE Discussion Papers.

Co-directors of the Research Seminar are Alan V. Deardorff, James A. Levinsohn, and Robert M. Stern, Professor, Associate Professor and Professor, respectively, of Economics and Public Policy. Other core faculty include: Drusilla K. Brown (Tufts University); John H. Jackson (Law), Lutz Kilian (Economics), and Gary Saxonhouse (Economics). Several additional faculty members from Economics, Business Administration, and Public Policy also participate actively in the Research Seminar. The Research Seminar is administered by the School of Public Policy and is located on the fourth floor of Lorch Hall, the building that also houses the Department of Economics.

Faculty research currently in progress under the auspices of the Research Seminar includes such topics as: the future of the multilateral trading system; preferential trading arrangements; econometric analysis of trade and trade policies; international taxation, international finance, and international corporate behavior; economic reform and transition; international economic law and policy; and international political economy.

Research results are reported initially in the form of Discussion Papers. For almost thirty years, these have been circulated periodically to about 200 specialists in international economics and to government and international agencies and institutions. More recent discussion papers are available for viewing and downloading here on the World Wide Web.

In 1989, a series of Studies in International Economic Policy was established under the auspices of the University of Michigan Press. Professor Stern is the General Editor of the series.
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ECON 851. Advanced Economic Theory.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Graduate standing. (3).

Credits: (3).

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

No Description Provided

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

Comparative Economic Systems and National Economies

Section 001.

Instructor(s): Andrew M Coleman (coldman@umich.edu)

Prerequisites: Graduate standing. (3).

Credits: (3).

Course Homepage: http://www.wdi.bus.umich.edu/events/comparative_economics.htm

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 Topic?

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

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

Section 001.

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

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

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/~ssakata/seminar/schedule.html

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)

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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