College of LS&A

Winter Academic Term 2004 Graduate Course Guide

Note: You must establish a session for Winter Academic Term 2004 on wolverineaccess.umich.edu in order to use the link "Check Times, Location, and Availability". Once your session is established, the links will function.

Courses in Economics


This page was created at 6:20 PM on Wed, Jan 21, 2004.

Winter Academic Term 2004 (January 6 - April 30)


ECON 401. Intermediate Microeconomic Theory.

Economic Theory and Statistics

Section 001.

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

Prerequisites: MATH 115 (or MATH 116, 156, 175, 185, 186, or 121) with a grade of C or better (Prerequisites enforced at registration). ECON 101 and 102 with a grade of C or better. (4). May not be repeated for credit. Rackham credit requires additional work.

Credits: (4).

Course Homepage: No homepage submitted.

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. ECON 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 ECON 401 and 402 be taken in the same term. Lecture and section both meet twice a week.

If the course closes, the waitlist for the course will be the waitlist for section 002. Overrides will be given after lecture the first day of class. If a section closes and a student drops that section, the section will reopen. If you are on the waitlist, you should watch Wolverine Access in case another student drops and a space becomes available.

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

ECON 402. Intermediate Macroeconomic Theory.

Economic Theory and Statistics

Section 001.

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

Prerequisites: ECON 101 and 102, and MATH 115. It is strongly recommended that students take ECON 401 before 402. (4). May not be repeated for credit. Rackham credit requires additional work.

Credits: (4).

Course Homepage: http://coursetools.ummu.umich.edu/2004/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. It is predominantly a lecture course, with grades based on hour test(s), written exercises, and final exam. ECON 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 ECON 401 before 402.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 403. Advanced Economic Theory.

Economic Theory and Statistics

Section 001.

Instructor(s): Yoram Halevy (yhalevy@umich.edu)

Prerequisites: ECON 401 with a grade of at least C-; or graduate standing (Prerequisites enforced at registration). (3). May not be repeated for credit. Rackham credit requires additional work.

Credits: (3).

Course Homepage: No homepage submitted.

This is an introduction to modern economic thinking. We shall learn how economists model choices people make under uncertainty, how does game theory help us understand and analyze interaction between rational agents and what are the limitations of those theories. The concepts studied will be applied to various economic environments, such as: non-competitive markets, insurance markets, contract design and auctions.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 404. Statistics for Economists.

Economic Theory and Statistics

Instructor(s): Roohi Prem Baveja

Prerequisites: ECON 101 and 102 and MATH 115. (4). May not be repeated for credit. No credit granted to those who have completed or are enrolled in ECON 405 or STATS 350, 265, 311, 350, 400, 405, or 412. Rackham credit requires additional work.

Credits: (4).

Course Homepage: http://coursetools.ummu.umich.edu/2004/winter/econ/404/001.nsf

ECON 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. The course is self-contained and does not serve as a prerequisite to ECON 406.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 405 / STATS 405. Introduction to Statistics.

Economic Theory and Statistics

Section 001.

Instructor(s): Elizaveta Levina (elevina@umich.edu)

Prerequisites: MATH 116. Juniors and seniors may elect this course concurrently with ECON 101 or 102. (4). May not be repeated for credit. No credit granted to those who have completed or are enrolled in IOE 265, STATS 265, 400, or 412. Students with credit for ECON 404 can only elect ECON 405 for 2 credits and must have permission of instructor.

Credits: (4).

Course Homepage: http://www.stat.lsa.umich.edu/~elevina/stat405/index.html

See STATS 405.001.

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

ECON 406. Introduction to Econometrics.

Economic Theory and Statistics

Section 001.

Instructor(s): Daniel Hamermesh

Prerequisites: ECON 405 or STATS 426. (4). May not be repeated for credit. Rackham credit requires additional work.

Credits: (4).

Course Homepage: No homepage submitted.

Econometrics consists of statistical methods commonly used in empirical economic research. With the basics of statistics and probability covered in ECON 405, ECON 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 ECON 405-406 sequence covers econometrics in greater depth and breadth than ECON 404. Students electing ECON 406 should have completed MATH 116, ECON 101-102, and either ECON 405 or STATS 426. Grade will be based on exams, a short term project, and homework exercises.

Textbook: Introductory Econometrics: A Modern Approach 2 ed, Wooldridge, Jeffrey M. S-Western College Publishing.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 409. Game Theory.

Economic Theory and Statistics

Section 001.

Instructor(s): Hector A Chade (hchade@umich.edu)

Prerequisites: MATH 217. (4). May not be repeated for credit.

Credits: (4).

Course Homepage: http://coursetools.ummu.umich.edu/2004/winter/econ/409/001.nsf

Game Theory aims to help us understand situations in which decision-makers interact. It has become a standard methodology in Economics. This course provides a rigorous introduction to the main concepts of Game Theory and its applications. It covers the standard ways of representing games and the main concepts to analyze static and dynamic strategic settings, with complete or incomplete information. It also covers some of the most important economic applications of game-theoretic reasoning, including competition in oligopolistic markets, trade policy, bargaining, contracting situations, auctions, and signalling in labor markets.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 414. Growth Theory.

Economic Theory and Statistics

Section 001.

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

Prerequisites: ECON 401 and 402 with a grade of at least C-; or graduate standing (Prerequisites enforced at registration). (4). May not be repeated for credit. Rackham credit requires additional work.

Credits: (4).

Course Homepage: http://www.econ.lsa.umich.edu/~stolyar/Class/Econ412/econ414.htm

This is an advanced undergraduate course in macroeconomic theory with the focus on economic growth. The standard of living in a country is determined by its capacity to produce goods and services. Why are some nations richer than others? Why is there economic growth? Will it continue forever? What institutions and policies are most important for 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, 2nd ed., W.W. Norton. Course pack.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 431. Industrial Organization and Performance.

Industrial Organization and Public Control

Section 001.

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

Prerequisites: ECON 401 with a grade of at least C-; or graduate standing (Prerequisites enforced at registration). (3). May not be repeated for credit. Rackham credit requires additional work.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2004/winter/econ/431/001.nsf

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

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 432. Government Regulation of Industry.

Industrial Organization and Public Control

Section 001.

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

Prerequisites: ECON 401 with a grade of at least C-; or graduate standing (Prerequisites enforced at registration). (3). May not be repeated for credit. Rackham credit requires additional work.

Credits: (3).

Course Homepage: No homepage submitted.

This course describes and analyzes the efforts of governments to control the market power of business enterprises. Topics include monopolization, oligopolistic collusion, vertical restraint, and merger. Emphasis is placed on American policies, especially antitrust law and regulation by administrative commission. Readings include the decisions of courts and regulatory commissions. Assignments include a term paper. ECON 431 is not required. Students should be prepared to participate frequently in class discussions.

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

ECON 435. Financial Economics.

Monetary and Financial Economics

Section 001.

Instructor(s): Peter Rousseau

Prerequisites: ECON 401 with a grade of at least C-; or graduate standing (Prerequisites enforced at registration). ECON 404 or 405. (4). May not be repeated for credit. Rackham credit requires additional work.

Credits: (4).

Course Homepage: No homepage submitted.

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

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

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 438 / HMP 661. Economics of Health Services.

Industrial Organization and Public Control

Section 001.

Instructor(s): Michael Chernew (ggbz@umich.edu)

Prerequisites: ECON 401 with a grade of at least C-, or HMP 660; or graduate standing (Prerequisites enforced at registration). (3). May not be repeated for credit.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2004/winter/hmp/661/001.nsf

This course will introduce students to the fundamental concepts of the field of health economics. The basic framework of economics will be used to analyze the behavior of hospitals, physicians, insurers, and health care consumers. The tools of economics will be applied to managerial issues such as make-or-buy decisions or pricing decisions. Additionally, these economic tools will be used to analyze how various parties might respond to changes in the health care system. By the end of this course, students should be able to assess the potential impact of hypothetical changes in the health care system on costs and access as well as on the well-being of hospitals, physicians, and insurers.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 441. International Trade Theory.

International Economics

Section 001.

Instructor(s): Jean-Marie Viaene (jmviaene@umich.edu)

Prerequisites: ECON 401 with a grade of at least C-; or graduate standing (Prerequisites enforced at registration). (3). May not be repeated for credit. Rackham credit requires additional work.

Credits: (3).

Course Homepage: No homepage submitted.

This course deals with the theory of international trade. It explores the main 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 under imperfect competition. 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. The course makes intensive use of analytical tools, in particular using graphs and mathematical expressions. Required textbook: Applied International Trade Analysis by H.P.Bowen, A.Hollander and J-M. Viaene, published by University of Michigan Press(ISBN:0472066706)and Palgrave- Macmillan(ISBN:0333614593),1998.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 453. The European Economy.

Comparative Economic Systems and National Economies

Section 001.

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

Prerequisites: ECON 401 with a grade of at least C-; or graduate standing (Prerequisites enforced at registration). (4). May not be repeated for credit. 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, monetary union, geographic enlargement, 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 the course.

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

ECON 454. Economics of Japan.

Comparative Economic Systems and National Economies

Section 001.

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

Prerequisites: ECON 101 and 102. (3). May not be repeated for credit. 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 also will be ample discussion of Japan's international economic relations and its current macroeconomic and structural problems. 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. Please note that in Winter Term 2004 the traditional version of ECON 454 will be offered. All items on the reading list will be in English. The lectures, classroom discussion, and examinations will also be exclusively in English.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 455. The Economy of the People's Republic of China.

Comparative Economic Systems and National Economies

Section 001.

Instructor(s): Albert Francis Park (alpark@umich.edu)

Prerequisites: ECON 101 and 102. (3). May not be repeated for credit. Rackham credit requires additional work.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2004/winter/econ/455/001.nsf

This course will examine the process of institutional change and economic development through the experiences of mainland China and Taiwan. Emphasis is on economic reforms in mainland China since 1978, including agricultural reforms, rural industrialization, reform of state-owned enterprises, international trade and foreign investment, fiscal and financial reforms, and regional inequality and poverty. Other topics: record of socialist planning in China; pace and sequence of reform in socialist economies; Taiwan's structural transformation; and China's entry into the World Trade Organization.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 457. Post-Socialist Transition in Central/Eastern Europe and the Former Soviet Union.

Comparative Economic Systems and National Economies

Section 001.

Instructor(s): Klara Z Sabirianova

Prerequisites: ECON 101 and 102. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2004/winter/econ/457/001.nsf

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

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

Economic History

Section 001.

Instructor(s): Peter Rousseau

Prerequisites: ECON 101 and 102. (3). May not be repeated for credit. Rackham credit requires additional work.

Credits: (3).

Course Homepage: No homepage submitted.

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.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

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). (INDEPENDENT). May be repeated for credit for a maximum of 8 credits. No more than four credits may be used in an economics concentration program. Rackham credit requires additional work.

Credits: (1-4).

Course Homepage: No homepage submitted.

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

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 5, Permission of department

ECON 502. Applied Macroeconomics.

Other Topics in Economics

Section 001.

Instructor(s): Janet C Wolfe (janwolfe@umich.edu)

Prerequisites: ECON 402 and Graduate standing. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2004/winter/econ/502/001.nsf

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.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 503. Econometrics for Applied Economics.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Graduate standing and permission of instructor. Prior coursework in calculus, introductory microeconomics and macroeconomics, and introductory statistics is recommended. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2004/winter/econ/503/001.nsf

Econometrics consists of statistical methods commonly used in empirical economic research. With the basics of statistics and probability covered in Statistics, ECON 503 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 course covers econometrics in greater depth and breadth than courses in introductory statistics. Students electing ECON 503 should have completed a course in calculus, introductory Microeconomics and Macroeconomics, and an introductory course in statistics. Grades will be based on exams and homework exercises.

Textbook: Introductory Econometrics: A Modern Approach 2 ed. 2002 Wooldridge, Jeffrey M. S-Western College Publishing.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5, Permission of instructor

ECON 571 / PUBPOL 571. Applied Econometrics.

Economic Theory and Statistics

Section 001.

Instructor(s): John E DiNardo (jdinardo@umich.edu)

Prerequisites: Graduate standing. Familiarity with elementary calculus and statistics at the level of PUBPOL 529 is required. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

This is a mathematical course in the basics of non-experimental inference with a focus on questions and problems that are interesting to economists and public policy analysts. Although this is an applied course, the focus will be on developing the tools necessary to be able to evaluate contemporary research. Familiarity with elementary calculus and statistics at the level of PUBPOL 529 is required. STATA will be used extensively. Homework, problem sets and exams for example, will all make use of STATA output.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 572 / PUBPOL 572. Policy Models.

Economic Theory and Statistics

Section 001.

Instructor(s): John E DiNardo

Prerequisites: ECON 571 and Graduate standing. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

The purpose of this course is to provide a forum for learning about and discussing (large) cross-sectional and panel data applications. It is intended for those students who have completed PUBPOL 571 or an equivalent. The goal of the course is to provide students with the tools necessary to allow them to pursue their own research and to critically assess empirical work by actually completing a research project during the academic term. Coursework will include problem sets and class presentations though the focus will be on the final original project.

Familiarity with STATA is assumed and will be the software used for the course. By the third week of class, students are required to have a fully specified feasible research design (includes having access to and identified the relevant data) which will be the basis of their final paper.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 599. Special Tutorial.

Honors Program, Internships, Seminars, and Independent Research

Instructor(s):

Prerequisites: Graduate standing and permission of instructor. (1-3). (INDEPENDENT). May not be repeated for credit.

Credits: (1-3).

Course Homepage: No homepage submitted.

Special topics course developed by individual faculty members and offered as requested.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

ECON 603. Microeconomic Theory III.

Economic Theory and Statistics

Section 001 — General and Partial Equilibrium. MEET JAN 6-FEB 20. (Drop/Add deadline=January 26).

Instructor(s): Itzhak Zilcha

Prerequisites: ECON 602. (1.5). May not be repeated for credit.

Mini/short course

Credits: (1.5).

Course Homepage: http://coursetools.ummu.umich.edu/2004/winter/econ/603/001.nsf

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 604. Microeconomic Theory IV.

Economic Theory and Statistics

Section 001 — Information and Incentives in Economics. MEETS MAR 1-APR 21. (Drop/Add deadline=March 15).

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

Prerequisites: ECON 603. (1.5). May not be repeated for credit.

Mini/Short course

Credits: (1.5).

Course Homepage: No homepage submitted.

This is a PhD level course on the role of information and incentives in economics. We cover topics such as search theory, adverse selection, moral hazard, and principal-agent models, mechanism design, optimal auctions, and bargaining with asymetric information.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

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). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 609. Advanced Mathematical Models for Macroeconomics.

Economic Theory and Statistics

Section 001 — Topic? MEETS JAN 6-FEB 20. (Drop/Add deadline=January 26).

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

Prerequisites: Graduate standing; ECON 600 or permission of instructor. (1.5). May not be repeated for credit.

Mini/Short course

Credits: (1.5).

Course Homepage: No homepage submitted.

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 610. Stochastic Dynamic Optimization in Economics.

Economic Theory and Statistics

Section 001 — Topic? MEETS MAR 1-APR 21. (Drop/Add deadline=March 15).

Instructor(s): Itzhak Zilcha

Prerequisites: ECON 600; graduate standing. (1.5). May not be repeated for credit.

Mini/Short course

Credits: (1.5).

Course Homepage: No homepage submitted.

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 612. Stabilization Policy.

Other Topics in Economics

Section 001.

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

Prerequisites: ECON 611. Graduate standing. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2004/winter/econ/612/001.nsf

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 619. Monotone Comparative Statics.

Economic Theory and Statistics

Section 001 — Axiomatic Theories of Individual Decision Making under Risk and Uncertainty. MEETS JAN 6-FEB 20 (Drop/Add deadline=January 26).

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

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

Mini/Short course

Credits: (1.5).

Course Homepage: No homepage submitted.

This is a PhD-level course on decision theory and will focus mainly on axiomatic theories of individual decision making under risk and uncertainty. First the course will briefly explore utility theory under certainty and the notion of preferences and their representation. Then we will study in detail the classic theories of decision under risk and uncertainty: von Neumann and Morgenstern, Anscombe and Aumann, and Savage. This will take roughly half the course and constitutes a basic grounding in the subject. From here we will explore a selection of topics that expand on the classical work in various directions and are nearer to the current research frontier.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5, Permission of instructor

ECON 620. Advanced Theory.

Economic Theory and Statistics

Section 001 — Frontier Economic Paradigms of Dynamic Microeconomics. MEETS MAR 1-APR 21. (Drop/Add deadline=March 15).

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

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

Mini/Short course

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.

Prerequisite: none for 2004

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5, Permission of instructor

ECON 622. Labor Economics II.

Labor Economics

Section 001.

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

Prerequisites: ECON 601, 603, 673, & 674; and Graduate standing. (3). May not be repeated for credit.

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.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 632. Industrial Organizations and Public Policy.

Industrial Organization and Public Control

Section 001.

Instructor(s): Kai-Uwe Kuhn (kukuhn@umich.edu), James A Levinsohn

Prerequisites: ECON 674, 674, and 631; and Graduate standing. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

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). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 666. Economic Development of Underdeveloped Countries.

Economic Development

Section 001.

Instructor(s): Jan Svejnar (svejnar@umich.edu)

Prerequisites: ECON 665. (3). May be elected more than once for credit.

Credits: (3).

Course Homepage: No homepage submitted.

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 672(674). Econometric Analysis II.

Economic Theory and Statistics

Section 001.

Instructor(s): Serena Ng

Prerequisites: ECON 671. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/~ngse/ec672/ec672-04s.html

ECON 671 and 672 form the basic required sequence in econometrics for all economics Ph.D students. Studentes should also have linear algebra and calculus as pre-requisites. The purpose of the course is to provide students with the training needed to do the basic quantitative analysis generally understood to be part of the background of all modern economists. This course 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. It covers the powerful statistical tools, which often appear in the modern econometric literature. The course materials are highly mathematical, and the emphasis is on understanding rather than on "cookbook" applications.

After This Course... It is highly recommended that after finishing this course students elect ECON 675 and/or 676 to learn some econometric applications. In addition, elect ECON 678-679 and Probability Theory through the Statistics Department to pursue more advanced topics in econometric theory. The course work will consist of a series of ungraded problem sets and three exams.

Grade: The course grade weighs the first exam by 0.30, the second exam by 0.30, and the third exam by 0.40.

Textbook: The lecture notes, which will be provided via the course web page, will serve as the course textbook. The following books may be found useful/interesting, but they are not required.
F. Hayashi, Econometrics. Princeton University Press, 1997.
J. Wooldrdige Econometric Analsis of Cross-Section and Panel Data, MIT Press, 2001.
R. Davidson and J. Mackinnon. Econometric Theory and Methods, Oxford University Press, 2003

Course Outline:
Basics in Probability Theory
Principles in Estimation
Ordinary Least Squares Estimator
GMM
Statistical Inference on Population Regression Coefficients
Specification Tests and Weighted Least Squares Estimation
Test of Conditional Homoskedasticity
Regression Systems
Endogeneity Problem and Instrumental Variables Estimation
Simultaneous Equation System
Quasi-Maximum Likelihood Estimation with I.I.D. Observations
Binary Choice Model and Its Estimation.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 675. Applied Microeconometrics.

Economic Theory and Statistics

Section 001.

Instructor(s): John E DiNardo (jdinardo@umich.edu)

Prerequisites: ECON 672; and permission of instructor. (4). May be repeated for credit.

Credits: (4).

Course Homepage: No homepage submitted.

This course is designed for Ph.D. students in Economics who are working on their own empirical projects with a focus on the application of econometric methods to empirical problems with micro data. The course provides background on issues that arise when analyzing non-experimental economic data and a guide for tools that are useful for applied research.

Students will also be expected to lead discussions of the practical problems in their own empirical work and present preliminary empirical results from their own work.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5, Permission of Instructor

ECON 677 / STATS 531. Analysis of Time Series.

Economic Theory and Statistics

Section 001.

Instructor(s): Edward L Ionides

Prerequisites: STATS 426. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: http://www.stat.lsa.umich.edu/~ionides/531/

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1, 3, 5, Permission of Department

ECON 678 / STATS 575. Econometric Theory I.

Economic Theory and Statistics

Section 001 — Instrumental Variables (IV) Estimation Method.

Instructor(s): Atsushi Inoue (inoue@umich.edu)

Prerequisites: ECON 671, 672, and 600. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

This is a course on theoretical econometrics for Ph.D. students who are interested in applications of the instrumental variables (IV) estimation method. The course consists of two parts. In the first part of this course, we consider various aspects of the IV estimation method and generalized method of moments (GMM) for cross-sectional and time-series data. In the second part, we consider panel data models from the IV/GMM perspective. The prerequisites are ECON 600, 671, and 672.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 684. Government Revenues.

Public Finance

Section 001.

Instructor(s): Joel B Slemrod (jselmrod@umich.edu)

Prerequisites: ECON 601. Graduate standing. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: http://coursetools.ummu.umich.edu/2004/winter/econ/684/001.nsf

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3

ECON 696. Introduction to Economic Research II.

Honors Program, Internships, Seminars, and Independent Research

Section 001.

Instructor(s): Robert B Barsky (barsky@umich.edu) , Stephen W Salant (ssalant@umich.edu)

Prerequisites: Graduate standing and permission of instructor. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

No Description Provided. Contact the Department.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

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

Section 001 — Meets with REES 401.001.

Instructor(s): William G Rosenberg (wgr@umich.edu)

Prerequisites: Graduate standing and permission of instructor. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

See REES 795.001.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 5, Permission of Instructor

ECON 812(712). Seminars in Monetary Theory.

Monetary and Financial Economics

Section 001.

Instructor(s): Miles S Kimball (mkimball@umich.edu) , Dmitriy L Stolyarov (stolyar@umich.edu)

Prerequisites: Graduate standing and permission of instructor. (2). May not be repeated for credit.

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.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

ECON 822. Seminars in Labor Economics.

Labor Economics

Section 001.

Instructor(s): John Bound (jbound@umich.edu) , Charles C Brown (charlieb@umich.edu)

Prerequisites: Graduate standing and permission of instructor. (2). May not be repeated for credit.

Credits: (2).

Course Homepage: No homepage submitted.

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.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

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 HISTORY 351 or POLSCI 355. Graduate standing. (3). (INDEPENDENT). May not be repeated for credit.

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

Course Homepage: No homepage submitted.

See HISTORY 825.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 5, Permission of Department

ECON 832(732). Seminars in Public Policy toward Business.

Industrial Organization and Public Control

Section 001.

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

Prerequisites: Graduate standing and permission of instructor. (2). May not be repeated for credit.

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.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

ECON 836. Seminar in Natural Resource Economics.

Environmental Economics

Section 001.

Instructor(s): Stephen W Salant (ssalant@umich.edu) , Klaas T Van 't Veld (kvtveld@umich.edu)

Prerequisites: Graduate standing and permission of instructor. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

The seminar in Natural Resource Economics is devoted to critical discussion of new research in the field. Each week an original research study is presented by a graduate student, a University of Michigan faculty member, or a faculty member visiting from another university.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

ECON 842. Research Seminar in International Economics.

Honors Program, Internships, Seminars, and Independent Research

Section 001.

Instructor(s): James A Levinsohn (jamesl@umich.edu), Juan Hallak (hallak@umich.edu)

Prerequisites: Graduate standing and permission of instructor. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

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

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

ECON 852. Seminar in Advanced Economic Theory.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Graduate standing and permission of instructor. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

The seminar in Advanced Economic Theory is devoted to critical discussion of new research in the field. Each week an original research study is presented by a graduate student, a University of Michigan faculty member, or a faculty member visiting from another university.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

ECON 860(760). Seminars in Comparative Economic Development.

Comparative Economic Systems and National Economies

Section 001.

Instructor(s): Albert Francis Park (alpark@umich.edu) , Jan Svejnar (svejnar@umich.edu)

Prerequisites: Graduate standing and permission of instructor. (2). May not be repeated for credit.

Credits: (2).

Course Homepage: No homepage submitted.

The CEDS series provides a forum for presentation of works in progress as well as completed papers on problems and issues in transition economics. 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. The CEDS series is co-sponsored by the Davidson Institute and the Economics Department at the University of Michigan.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

ECON 864. Seminar in Economic History.

Economic History

Section 001.

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

Prerequisites: Graduate standing and permission of instructor. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

The seminar in Economic History is devoted to critical discussion of new research in the field. Each week an original research study is presented by a graduate student, a University of Michigan faculty member, or a faculty member visiting from another university.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

ECON 876. Quantitative Economics Seminar.

Economic Theory and Statistics

Section 001.

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

Prerequisites: Graduate standing and permission of instructor. (3). May not be repeated for credit.

Credits: (3).

Course Homepage: No homepage submitted.

The seminar in Econometrics is devoted to critical discussion of new research in the field. Each week an original research study is presented by a graduate student, a University of Michigan faculty member, or a faculty member visiting from another university.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

ECON 882(782). Seminars in Public Finance.

Public Finance

Section 001.

Instructor(s): Daniel Susman Silverman

Prerequisites: Graduate standing and permission of instructor. (2). May not be repeated for credit.

Credits: (2).

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.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 3, 5: Permission of instructor

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. This course has a grading basis of "S" or "U."

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.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 5, Permission of Department

ECON 995. Dissertation/Candidate.

Honors Program, Internships, Seminars, and Independent Research

Instructor(s):

Prerequisites: Graduate School authorization for admission as a doctoral Candidate (Prerequisites enforced at registration). (8). (INDEPENDENT). May be repeated for credit. This course has a grading basis of "S" or "U."

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.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 5, Permission of Department


Undergraduate Course Listings for ECON.


Page


This page was created at 6:20 PM on Wed, Jan 21, 2004.


lsa logo

University of Michigan | College of LS&A | Student Academic Affairs | LS&A Bulletin Index | Department Homepage

This page maintained by LS&A Advising Technology (webmaster_saa@umich.edu), G255-E Angell Hall

Copyright © 2004 The Regents of the University of Michigan,
Ann Arbor, MI 48109 USA +1 734 764-1817

Trademarks of the University of Michigan may not be electronically or otherwise altered or separated from this document or used for any non-University purpose.