Courses in Economics (Division 358: arranged by groups)

A. Introductory Courses

201. Principles of Economics I. No credit granted to those who have completed 400. (4). (SS).

Economics 201 concentrates on the microeconomics of the modern economy: how markets function under competitive conditions as well as with various other types of market organization; the distribution of income and wealth; the public sector; socialism; and related topics of current interest. Grades are based largely on course-wide hour tests and the final exam, but there will also be quizzes in the sections. Economics 201 is the first part of the two-term introduction to economics. Both 201 and 202 are required as prerequisites to the concentration and to upper level courses in economics. Any student absent from the first two discussion section meetings will be dropped from the course. [WL:1]

202. Principles of Economics II. Econ. 201. No credit granted to those who have completed Econ. 400. (4). (SS).

Economics 201 and 202 are required as prerequisites to the concentration and to upper-level courses in Economics. In Economics 202, the fundamental concepts and theories of macroeconomics are developed and used to analyze problems of current interest. The major concerns of this course are the determinants of GNP, unemployment, inflation, international trade, and economic growth. The section meetings are limited to 35 students. [WL:1]

400. Modern Economic Society. For upperclass and graduate students without prior credit for principles of economics. (4). (SS).

A one-term course which covers the basic principles of economics, including both microeconomic and macroeconomic analysis, the theory of production and cost, industrial organization, and input markets. Macroeconomic topics include the determination of national income, inflation and unemployment, money and banking, and stabilization policy. The course is aimed at upperclass and graduate students who are not concentrating in economics. Students who wish to retain the options of further courses in economics or of economics as a possible concentration should take the two-term introductory course, Economics 201 and 202. [WL:1]

B. Economic Theory and Statistics

401. Intermediate Microeconomic Theory. Econ. 201 and 202, and Math. 115. (4). (SS).

This course is based on H. Varian INTERMEDIATE MICROECONOMICS. The course provides a moderately detailed description of the neo-classical microeconomic theories of consumer demand for commodities, firm behavior, various market types, and an introduction to welfare economics. Emphasis is also placed upon methods of analysis. Some introductory knowledge of differential calculus is assumed. Grades will be determined from midterm tests and a final examination. [Cost:2] [WL:4] (Shin)

404. Statistics for Economists. Econ. 201 and 202; or permission of instructor. No credit granted to those who have completed 405. (4). (Excl).

This course is designed to enable students to read critically empirical literature in economics and other social sciences. Topics covered include descriptive statistics, elementary probability theory, statistical inference, and regression theory. Data analysis and interpretation of quantitative results will be emphasized. There are three lectures and one problem session per week. Grades are based on problem sets and exams. The course, which is self-contained, does not serve as a prerequisite to Economics 406. [Cost:2-3] [WL:1] (Howrey)

D. Labor Economics

320. Survey of Labor Economics. Econ. 201 and 202. Not open to those who have taken Econ. 421 and/or 422. (3). (Excl).

This course surveys the demand and supply of labor, investment in human capital, market structure and the efficiency of labor markets, discrimination, collective bargaining, the distribution of income, and unemployment. Two midterms and a final exam are required. [Cost:2] [WL:1] (Wellington)

F. International Economics

442. International Finance. Econ. 402 or the equivalent. No credit granted to those who have completed or are enrolled in 340. (3). (Excl).

The course deals with macroeconomic analysis and issues for an open economy. Topics include: the foreign exchange market and the balance of payments; the income-absorption and monetary-asset market approaches to national income determination and the balance of payments; macro-stabilization policies and central bank intervention under fixed and floating exchange rates; Eurocurrency markets; monetary integration; and reform of the international monetary system. Grading will be based on two midterms and a final exam. There will be optional homework assignments. Economics 441, the other half of the international sequence, is not a prerequisite. [Cost:6] [WL:1] (Bernacek)

G. Comparative Economic Systems

350. Comparative Economic Systems. Econ. 201 and 202. No credit granted to those who have completed or are enrolled in 451. (3). (Excl).

Theoretical models and case studies of selected aspects of different economic systems, including (1) capitalist regulated market economies, (2) socialist regulated market economies, and (3) socialist centrally planned economies. Assigned readings and lectures. Two examinations. NOT in departmental concentration sequence in Comparative Economic Systems. [WL:1] (Zhou)

N. Interdisciplinary Survey Courses

396/Hist. 333/Pol. Sci. 396/REES 396/Slavic 396/Soc. 393. Survey of Eastern Europe. May not be included in the minimum 24 credits required for a concentration in economics. (4). (SS).

See REES 396. (J. Fine)

O. Accounting

271/Accounting 271 (Business Administration). Accounting. Not open to freshmen. May not be included in the minimum 24 credits required for a concentration in economics. (3). (Excl).

This course covers basic financial accounting principles for a business enterprise. Topics include the accounting cycle, merchandising accounts, asset valuation, income measurement, partnership accounting, and corporation accounting. [Cost:3] [WL:5, Wait until classes start and then attend the first discussion section which meets before the first lecture. Policies and procedures for issuing Overrides will be explained there.

272/Accounting 272 (Business Administration). Accounting. Economics 271. Not open to freshmen. May not be included in the minimum 24 credits required for a concentration in economics. (3). (Excl).

This course completes the coverage of financial accounting principles and provides an introduction to management accounting. Topics include investments, long-term liabilities, the statement of changes in financial position, consolidated statements, job-order and process cost accounting, special analysis for management, and standard costs. [Cost:3] [WL:5, Wait until classes start and then attend the first discussion section which meets before the first lecture. Policies and procedures for issuing Overrides will be explained there.


lsa logo

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

This page maintained by LS&A Academic Information and Publications, 1228 Angell Hall

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.