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Spring/Summer 2002 Course Guide

Note: You must establish a session for the correct term (Spring, Summer, or Spring/Summer 2002) 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 7:30 AM on Mon, Jul 1, 2002.


Summer Half-Term Courses


ECON 101. Principles of Economics I.

Introductory Courses

Instructor(s):

Prerequisites & Distribution: High school algebra and geometry. No credit granted to those who have completed or are enrolled in Econ. 400. (3). (SS). (QR/2).

Half QR

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

Course Homepage: No homepage submitted.

Economics 101 is the first part of the two–term introduction to economics. Both 101 and 102 are required as prerequisites to the concentration and to upper-level courses in economics. Economics 101 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.

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

ECON 101. Principles of Economics I.

Introductory Courses

Section 201.

Instructor(s):

Prerequisites & Distribution: High school algebra and geometry. No credit granted to those who have completed or are enrolled in Econ. 400. (3). (SS). (QR/2).

Half QR

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

Course Homepage: No homepage submitted.

Economics 101 is the first part of the two-term introduction to economics. Both 101 and 102 are required as prerequisites to the concentration and to upper-level courses in economics. Economics 101 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.

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

ECON 102. Principles of Economics II.

Introductory Courses

Instructor(s):

Prerequisites & Distribution: Econ. 101. No credit granted to those who have completed or are enrolled in Econ. 400. (3). (SS). (QR/2).

Half QR

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

Course Homepage: No homepage submitted.

Economics 101 and 102 are required as prerequisites to the concentration and to upper–level courses in Economics. In Economics 102, the fundamental concepts and theories of macroeconomics are developed and used to analyze problems of current interest. The major concerns of this course are the determinants of GNP, unemployment, inflation, international trade, and economic growth.

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

ECON 327. Economics of Crime.

Other Topics in Economics

Section 201.

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

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

Credits: (3).

Course Homepage: No homepage submitted.

The Economics of Crime will examine crime, and the impact of crime, using the tools of economic analysis. Included in the course of study will be: (1) An economic explanation of criminal behavior; (2) The costs of crime; (3) Crime and the provision of public protection; (4) Resource allocation within the criminal justice system; (5) The organization of the criminal enterprises. Throughout the course students will be encouraged to use the tools of analysis introduced to them in the Economics 101 and 102 classes to read and evaluate explanations and arguments regarding the causes of crime, effective responses to crime, and the efficient use of public resources to combat/deter crime. The purpose of the course is to teach students who may be considering going forward in the discipline how economists use their training to address and analyze important topics in public policy.Undergraduate students.Three hours/week, lecture.

Students will be assigned articles to read that have been published in the professional literature and are relevant to the topic. The particular articles vary in length. The articles that will be assigned represent both theoretical and empirical research that is fundamental to understanding the economic approach to crime and punishment. Their understanding of the material will be tested by a midterm examination and a comprehensive final examiniation.

Students will also be required to submit several short papers during the course of the term. The purpose of these papers is to have students critically examine topics assigned by the instructor, using the tools of economic analysis.

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

ECON 441. International Trade Theory.

International Economics

Section 201.

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

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

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/~alandear/courses/441/441.html

This course introduces the theory of international trade. It explores the important theories that explain what countries trade and why they gain from trade. These theories include the theory of comparative advantage and the factor-proportions theory of trade, as well as more recent theoretical developments based on imperfect competition. The course deals with several other related topics such as empirical tests and applications of trade theory, the theory of trade policy, preferential trading arrangements, the WTO, international factor movements, and trade and economic development. Prerequisite: Econ. 401

Check Times, Location, and Availability Cost: 2 Waitlist Code: No Data Given.

ECON 499. Independent Research.

Honors Program, Internships, Seminars, and Independent Research

Instructor(s):

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

Credits: (1-4).

Course Homepage: No homepage submitted.

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

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

Spring Half-Term Courses


ECON 101. Principles of Economics I.

Introductory Courses

Instructor(s):

Prerequisites & Distribution: High school algebra and geometry. No credit granted to those who have completed or are enrolled in Econ. 400. (3). (SS). (QR/2).

Half QR

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

Course Homepage: No homepage submitted.

Economics 101 is the first part of the two-term introduction to economics. Both 101 and 102 are required as prerequisites to the concentration and to upper-level courses in economics. Economics 101 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.

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

ECON 102. Principles of Economics II.

Introductory Courses

Instructor(s):

Prerequisites & Distribution: Econ. 101. No credit granted to those who have completed or are enrolled in Econ. 400. (3). (SS). (QR/2).

Half QR

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

Course Homepage: No homepage submitted.

Economics 101 and 102 are required as prerequisites to the concentration and to upper-level courses in Economics. In Economics 102, the fundamental concepts and theories of macroeconomics are developed and used to analyze problems of current interest. The major concerns of this course are the determinants of GNP, unemployment, inflation, international trade, and economic growth.

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

ECON 395. Topics in Economics and Economic Policy.

Other Topics in Economics

Section 101 – Taxes, Spending, and Politics. (3 credits).

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

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

Upper-Level Writing

Credits: (1-3).

Course Homepage: No homepage submitted.

When he took office, President Bush proposed a sweeping series of changes in fiscal policy. These include income tax reductions, elimination of the estate tax, and partial privatization of the Social Security system. Some of these changes have been adopted permanently, others have been adopted but are scheduled to expire, and still others have been rejected (thus far). We will develop some tools with which to assess the potential impacts of these proposals. Our analysis will embrace both macroeconomic issues (the importance or unimportance of budget surpluses and deficits, the impact of the Social Security system on the aggregate economy, etc.) and microeconomic issues (tax code changes, spending initiatives, etc.). Student input in choosing the particular proposals to analyze will be crucial to the success of the course.

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

ECON 401. Intermediate Microeconomic Theory.

Economic Theory and Statistics

Section 101.

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

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

Full QR

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. 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. Both lecture and sections will meet twice a week. Students should bring their coursepack to lecture.

Textbooks:

Intro Micro 5th Ed Varian

Workouts in Intermediate Micro 5th Ed Bergstrom

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

ECON 402. Intermediate Macroeconomic Theory.

Economic Theory and Statistics

Section 101.

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

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

Full QR

Credits: (4).

Course Homepage: No homepage submitted.

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) and final exam. Prerequisites include one term of calculus. Economics 402 is a prerequisite for many other courses offered in Economics. Concentrators in economics are required to elect this course and are encouraged to complete it early in their concentration program. It is strongly recommended that students take Economics 401 before 402.

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

ECON 404. Statistics for Economists.

Economic Theory and Statistics

Section 101.

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

Prerequisites & Distribution: Econ. 101 and 102 and Math. 115. No credit granted to those who have completed or are enrolled in Econ. 405 or Stats. 350, 265, 311, 350, 400, 402, 405, or 412. (4). (Excl). (BS). (QR/1).

Full QR

Credits: (4).

Course Homepage: No homepage submitted.

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

Check Times, Location, and Availability Cost: 2 Waitlist Code: No Data Given.

ECON 461. The Economics of Development I.

Economic Development

Section 101.

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

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

Credits: (3).

Course Homepage: No homepage submitted.

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

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

ECON 485. Law and Economics.

Other Topics in Economics

Section 101.

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

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

Upper-Level Writing

Credits: (3).

Course Homepage: No homepage submitted.

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

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

ECON 498. Honors Independent Research.

Honors Program, Internships, Seminars, and Independent Research

Instructor(s):

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

Credits: (1-4).

Course Homepage: No homepage submitted.

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

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

ECON 499. Independent Research.

Honors Program, Internships, Seminars, and Independent Research

Instructor(s):

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

Credits: (1-4).

Course Homepage: No homepage submitted.

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

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

Spring/Summer Term Courses


ECON 498. Honors Independent Research.

Honors Program, Internships, Seminars, and Independent Research

Instructor(s):

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

Credits: (1-4).

Course Homepage: No homepage submitted.

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

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

Graduate Course Listings for ECON.


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This page was created at 7:31 AM on Mon, Jul 1, 2002.

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