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Winter Academic Term 2001 Course Guide

Note: You must establish a session for Winter Term 2001 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 7:12 PM on Mon, Jan 29, 2001.

Winter Term, 2001 (January 4 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 Term '01 Time Schedule for Economics.


Override Procedures for Economics courses

Override Procedures for Economics 101 and 102: Put yourself on the electronic waitlist and then attend the first day of classes for directions. If you are not able to get on the electronic waitlist, attend the first day of the class and speak with the professor. Office hours (158 Lorch) for Fall Term will be Monday-Friday 8:00-4:00. Shannon DeWolf will be available to answer questions about the Economics concentration requirements, career/job information, internship information, Economics Networking Program, college or department policies and procedures, and general university information. Students can schedule advising appointments by calling (763-9242 or 764-2356) or stopping by the office.

Override procedures for 300- and 400-level courses will be handled by the faculty member in charge. The student must attend the first day of the course he/she wishes to get the override in and speak with the professor.


ECON 101. Principles of Economics I.

Introductory Courses

Section 100.

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

Prerequisites & Distribution: High school algebra and geometry. No credit granted to those who have completed or are enrolled in 400. (4). (SS). (QR/2).

Half QR

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

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ101_100_200_400_W01/

Economics 101 examines the microeconomics of capitalism the behavior of households and businesses, the generation of prices and outputs in markets, and applications to public policy. Specific topics in Economics 101 include: supply and demand; the differences between competition and monopoly; environmental problems and policies; labor markets; and international trade. Economics 101 is the first part of the two-term introduction to economics the second part (Economics 102, for which Economics 101 is a prerequisite) examines macroeconomics. Prerequisites for 101: high school algebra and geometry and a willingness to use them.

The course format consists of large lectures taught by the professor and one small one-and-a-half-hour section meeting per week taught by a graduate student instructor.

Textbooks:
Prin of Micro 3rd Ed Taylor
Econ of Public Issues 12th Ed Miller

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

ECON 101. Principles of Economics I.

Introductory Courses

Section 200.

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

Prerequisites & Distribution: High school algebra and geometry. No credit granted to those who have completed or are enrolled in 400. (4). (SS). (QR/2).

Half QR

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

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ101_100_200_400_W01/

Economics 101 examines the microeconomics of capitalism the behavior of households and businesses, the generation of prices and outputs in markets, and applications to public policy. Specific topics in Economics 101 include: supply and demand; the differences between competition and monopoly; environmental problems and policies; labor markets; and international trade. Economics 101 is the first part of the two-term introduction to economics the second part (Economics 102, for which Economics 101 is a prerequisite) examines macroeconomics. Prerequisites for 101: high school algebra and geometry and a willingness to use them.

The course format consists of large lectures taught by the professor and one small one-and-a-half-hour section meeting per week taught by a graduate student instructor.

Texts:

  • Taylor, Principles of Microeconomics
  • Miller, Economics of Public Issues

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

    ECON 101. Principles of Economics I.

    Introductory Courses

    Section 300 EVENING EXAMS ON FEB. 15 AND MARCH 22 FROM 6:00-8:00 PM.

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

    Prerequisites & Distribution: High school algebra and geometry. No credit granted to those who have completed or are enrolled in 400. (4). (SS). (QR/2).

    Half QR

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

    Course Homepage: https://coursetools.ummu.umich.edu/2001/winter/econ/101/300.nsf

    Economics 101 examines the microeconomics of capitalism the behavior of households and businesses and the generation of prices and outputs in markets. Specific topics in Economics 101 include: supply and demand; the differences between competition and monopoly; labor markets and discrimination; the distribution of incomes and poverty; environmental problems and policies; and government taxation and expenditure issues. Economics 101 is the first part of the two-term introduction to economics the second part (Economics 102, for which Economics 101 is a prerequisite) examines macroeconomics.

    Prerequisites for 101: high school algebra and geometry and a willingness to use them. The course format consists of large lectures taught by the professor and one small one-and-a-half-hour section meeting per week taught by a graduate student instructor.

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

    ECON 101. Principles of Economics I.

    Introductory Courses

    Section 400.

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

    Prerequisites & Distribution: High school algebra and geometry. No credit granted to those who have completed or are enrolled in 400. (4). (SS). (QR/2).

    Half QR

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

    Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ101_100_200_400_W01/

    Economics 101 examines the microeconomics of capitalism the behavior of households and businesses, the generation of prices and outputs in markets, and applications to public policy. Specific topics in Economics 101 include: supply and demand; the differences between competition and monopoly; environmental problems and policies; labor markets; and international trade. Economics 101 is the first part of the two-term introduction to economics the second part (Economics 102, for which Economics 101 is a prerequisite) examines macroeconomics. Prerequisites for 101: high school algebra and geometry and a willingness to use them. The course format consists of large lectures taught by the professor and one small one-and-a-half-hour section meeting per week taught by a graduate student instructor.

    Texts:

  • Taylor, Principles of Microeconomics
  • Miller, Economics of Public Issues

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

    ECON 102. Principles of Economics II.

    Introductory Courses

    Section 100.

    Instructor(s): Saul H Hymans (shymans@umich.edu)

    Prerequisites & Distribution: Econ. 101. No credit granted to those who have completed or are enrolled in Econ. 400. (4). (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 GDP, unemployment, inflation, international trade, and economic growth. The course format consists of three hours of lecture per week (either 100) by the professor and a one-and-a-half hour section meetings (101-111) led each week by a graduate student instructor. The section meetings are limited to 35 students.

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

    ECON 102. Principles of Economics II.

    Introductory Courses

    Section 200.

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

    Prerequisites & Distribution: Econ. 101. No credit granted to those who have completed or are enrolled in Econ. 400. (4). (SS). (QR/2).

    Half QR

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

    Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ102_200_W01/

    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 GDP, unemployment, inflation, international trade, and economic growth. The course format consists of three hours of lecture per week (either 100 or 200) by the professor and one-and-a-half hours of section meetings (101-109 or 201-212) each week by a graduate student instructor. The section meetings are limited to 35 students.

    There is a course pack, Introduction to Macroeconomic Models, available from Dollar Bill Copying, 611 Church.

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

    ECON 108. Introductory Microeconomics Workshop.

    Introductory Courses

    Section 001.

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

    Prerequisites & Distribution: First-year standing and concurrent enrollment in Economics 101. (1). (SS). Offered mandatory credit/no credit.

    Credits: (1).

    Course Homepage: No Homepage Submitted.

    Students will meet weekly for one hour with a faculty member for discussion of the previous week's Wall Street Journal (WSJ) articles, stressing the use and application of the microeconomic tools being learned in Economics 101. Articles discussed include articles on the Wall Street Journal's "Economics in Action" website (http://subscribe.wsj.com/microexamples) and current articles related to the week's class topics.

    Students will select a topic, open the discussion on their week's topic, keep a journal throughout the term on their topic and summarize their findings at the end of the term in a brief (2 page max) paper. This paper, journal, and a copy of their favorite article on the topic will be turned in at the end of the term.

    Workshop attendance is mandatory, and each student will be required to subscribe to the WSJ for the term. Evaluation of students will be entirely on the basis of their paper, journal, and attendance. Students not concurrently enrolled in Economics 101 will be dropped from the class.

    There are openings in the course for seniors who are econ majors to serve as group leaders. Please contact Jan Gerson (a href=http://mailto:jgerson@umich.edu>jgerson@umich.edu) if you are interested.

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

    ECON 309(109). Experimental Economics.

    Other Topics in Economics

    Instructor(s): Yan Chen (yanchen@umich.edu)

    Prerequisites & Distribution: Econ. 101. (3). (SS). (QR/1). Laboratory fee ($30) required.

    Full QR

    Credits: (3).

    Lab Fee: Laboratory fee ($30) required.

    Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ309/

    This course will introduce students to principles of economics through experience in a laboratory. Topics include competitive markets, bargaining, auctions, taxation, trade, etc. Students who took Econ 109 are not eligible.

    Textbook: Experiments w/Economic Prin.: Micro 2nd 2000 Bergstrom MCG 0-07-229518-X

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

    ECON 310. Money and Banking.

    Monetary and Financial Economics

    Section 001.

    Instructor(s): King-Yuen Yik

    Prerequisites & Distribution: Econ. 101 and 102. (3). (SS).

    Credits: (3).

    Course Homepage: https://coursetools.ummu.umich.edu/2001/winter/econ/310/001.nsf

    This course studies the role of money, banking, and finance in the economy. At the macroeconomic level, we will study how monetary policy influences interest rates, prices, and overall economic activity. At the microeconomic level, the course will introduce topics in portfolio theory, risk management, and banking regulation. The nature of banks and problems of their supervision and control are linked to the recent banking crisis in the United States. We will also examine in detail how the Federal Reserve operates monetary policy, and the problems it faces in pursuing objectives such as economic growth, low inflation, and the containment of financial crises.

    Textbook: AUTHOR: Mishkin, Frederic S. TITLE: The economics of money, banking, and financial markets EDITION: 6th Ed. PLACE: Boston, Mass PUBLISHER: Addison-Wesley, YEAR: 2001 SERIES: Addison-Wesley series in economics

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

    ECON 320. Survey of Labor Economics.

    Labor Economics

    Section 001.

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

    Prerequisites & Distribution: Econ. 101 and 102. (3). (SS).

    Credits: (3).

    Course Homepage: No Homepage Submitted.

    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.

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

    ECON 323. Economics and Gender.

    Other Topics in Economics

    Section 001.

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

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

    Upper-Level Writing

    Credits: (3).

    Course Homepage: https://coursetools.ummu.umich.edu/2001/winter/econ/323/001.nsf

    Examines many aspects of the economic status of women, including their role in the labor market and the household, their relative wage status, the incidence of poverty in female-headed households, and the importance of historical and demographic trends as determinants of the economic status of women. Relevant issues include sex-related inequities in wages, taxation, social security, etc., and possible policies for combating discrimination.

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

    ECON 325/Poli. Sci. 439. Inequality in the United States.

    Labor Economics

    Section 001.

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

    Prerequisites & Distribution: Econ. 101 and 102. (3). (SS).

    Upper-Level Writing

    Credits: (3).

    Course Homepage: No Homepage Submitted.

    This course examines the distribution of economic resources in the United States. Topics include the relationships between access to economic resources and opportunities for human flourishing, how inequalities in resource distribution are properly compared and measured, various social scientific explanations for existing inequalities, and to related economic policy questions.

    Grading will be based on midterm and final examinations, and two papers.

    This course involves a substantial amount of writing. Two papers are thus required, a short paper early in the academic term and a longer term paper. Students enrolled in the course for Upper-Level Writing certification must submit a first draft of each paper. (For other students first drafts are optional.) Each first draft will be returned with comments on English composition and economic substance. A final draft will then be due a week later.

    Students in the course will be strongly encouraged to participate in class discussions and the course email group which will provide easy access to supplementary materials and an additional venue for discussion.

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

    ECON 330. American Industries.

    Industrial Organization and Public Control

    Section 001.

    Instructor(s): Janet Netz

    Prerequisites & Distribution: Econ. 101 and 102. (4). (SS).

    Credits: (4).

    Course Homepage: No Homepage Submitted.

    This course studies markets for goods and services, with a focus on the strategic actions and interactions of firms. We will cover a variety of models of market structure and will cover some of the determinants of which model is most appropriate for a given industry. We will discuss strategies that a firm can use to increase its profits. We will also cover the influence of the antitrust and regulation on firm behavior and market performance.

    Textbook: Industrial Economics 2nd ed Martin, Stephen Prentice-Hall

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

    ECON 340. International Economics.

    International Economics

    Section 001.

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

    Prerequisites & Distribution: Econ. 101 and 102. (3). (SS).

    Credits: (3).

    Course Homepage: http://www.econ.lsa.umich.edu/~alandear/courses/340/340.html

    The course provides a general overview of international economics.

    Topics covered include: the reasons for and the effects of international trade; trade policies such as tariffs, quotas, and voluntary export restraints; trade arrangements and institutions such as the NAFTA and WTO; determination of exchange rates; the role of the international economy in influencing national income, unemployment, and inflation; and international constraints on macroeconomic policy. Emphasis is on concepts, ideas and institutions, rather than on rigorous analysis.

    Course grade is based on two midterm exams and a final exam only. Students are also expected to stay abreast of international economic news by reading the New York Times or the Wall Street Journal, and class includes weekly class discussions of the current international economic news.

    Textbook: International Economics 1st ed Gerber, James Addison-Wesley 0-321-01434-0

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

    ECON 370/NR&E 375. Natural Resource Economics.

    Environmental Economics

    Section 001.

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

    Prerequisites & Distribution: Econ. 101 and 102. No credit granted to those who have completed or are enrolled in Econ. 471 or 472. (3). (Excl).

    Credits: (3).

    Course Homepage: http://www.snre.umich.edu/NRE375/

    This course will expose students to economic theory applied to environmental and natural resources issues. Supply, demand, and opportunity cost play a major role in explaining environmental issues, and the economics paradigm can contribute to solutions to these issues. Topics include efficiency and distribution in considering solutions to environmental problems; when markets work well and how they fail; pollution and other externalities; discounting as a way to incorporate the future; benefit-cost analysis; nonrenewable resource extraction; renewable resource use; and sustainability. Throughout, the course will emphasize understanding how incentives shape human behavior, and how altering incentives alters behavior.

    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 001 Genetic Evolutionary Economics

    Instructor(s): Terry Burnham

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

    Credits: (1-3).

    Course Homepage: No Homepage Submitted.

    What do sex, genetic evolution, and Charles Darwin have to with Adam Smith and economics? This will be an intensive and intellectually challenging romp through some of the most important economic issues: Are people selfish or altruistic? Rational or irrational? Risk-averse or risk-seeking?

    In this course, we will discuss how evolution by natural selection has created a genetic human nature. We will examine the standard economic model of human behavior, Homo economicus, with data and theory from natural sciences. The lectures will examine the core assumptions of economics with data from evolutionary biology, anthropology, psychology, and experimental economics. Primary texts will include the Professor's works, Mean Genes. From Sex to Money to Food: Taming our Primal Instincts. http://www.meangenes.org/ and Essays on Genetic Evolution and Economics.

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

    ECON 401. Intermediate Microeconomic Theory.

    Economic Theory and Statistics

    Section 001.

    Instructor(s): Janet Gerson (jgerson@umich.edu), Kai-Uwe Kühn (kukuhn@umich.edu)

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

    Full QR

    Credits: (4).

    Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ401_W01/

    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. Main lecture will meet twice a week. Sections will meet twice a week.

    Textbooks:
    Intro Micro 5th Ed Varian
    Workouts in Intermediate Micro 5th Ed Bergstrom

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

    ECON 402. Intermediate Macroeconomic Theory.

    Economic Theory and Statistics

    Section 001.

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

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

    Full QR

    Credits: (4).

    Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ402_W01/

    This course in macroeconomics deals with the determination of broad economic aggregates such as national income, employment, the price level, and the balance of payments in both the short run and the long run. Rigorous analysis is used to understand the forces that determine these economic variables, and how they are affected by public policies.

    Econ. 402 is predominantly a lecture course, with grades based on hour test(s), written exercises, and final exam. Economics 402 is a prerequisite for many other courses offered in Economics. Concentrators in Economics are required to elect this course and are encouraged to complete it early in their concentration program. It is strongly recommended that students take Economics 401 before 402.

    Textbooks: Age of Diminished Expectations 3rd ed Kurgman MIT Press 0-262-61134-1

    Macro w/Macrobytes package Mankiw VHPS

    Study Guide & Workbook Kaufman 1-57259-645-7

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

    ECON 404. Statistics for Economists.

    Economic Theory and Statistics

    Section 001.

    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 Stat. 250, 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: No Data Given. Waitlist Code: 1

    ECON 405/Stat. 405. Introduction to Statistics.

    Economic Theory and Statistics

    Section 001.

    Instructor(s): Thomas Ryan (tpryan@umich.edu)

    Prerequisites & Distribution: 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 Stat. 265, 311, or 412. Students with credit for Econ. 404 can only elect Econ. 405 for 2 credits and must have permission of instructor. (4). (MSA). (BS). (QR/1).

    Full QR

    Credits: (4).

    Course Homepage: No Homepage Submitted.

    Principles of statistical inference, including: probability, experimental and theoretic derivation of sampling distributions, hypothesis testing, estimation, and simple regression.

    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): Shinichi Sakata (ssakata@umich.edu)

    Prerequisites & Distribution: Econ. 405 or Statistics 426. (4). (Excl). (BS).

    Credits: (4).

    Course Homepage: http://www.econ.lsa.umich.edu/~ssakata/econ406/index.html

    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

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

    ECON 411. Monetary and Financial Theory.

    Monetary and Financial Economics

    Section 001 Corporate Financial Theory: Economic and Financial Principles.

    Instructor(s): Phil Shively

    Prerequisites & Distribution: Econ. 402, and 404 or 405. (3). (Excl).

    Credits: (3).

    Course Homepage: https://coursetools.ummu.umich.edu/2001/winter/econ/411/001.nsf

    This academic term, Economics 411 will focus on the economic and financial principles underlying corporate financial theory. It will not cover monetary theory. Specifically, we will examine the corporate investment and financing decisions in detail. Topics will include the time value of money, valuing debt and equity, net present value analysis, risk vs. expected return, the Capital Asset Pricing Model, the capital structure decision, the dividend decision, mergers and acquisitions, and options.

    This course is designed to develop your analytical skills. Therefore, an emphasis will be placed on solving the quantitative, end-of-chapter problems in addition to addressing the theoretical aspects of corporate financial theory.

    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.

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

    ECON 431. Industrial Organization and Performance.

    Industrial Organization and Public Control

    Section 001.

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

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

    Credits: (3).

    Course Homepage: No Homepage Submitted.

    The purpose of this course is twofold: to introduce the students to the concepts and analytical tools that help analyze the market structures and firms' behavior and regulatory policies that promote effective competition.

    In the first part of the course, we will study how the product markets are defined, how the sellers interact with other sellers and potential entrants, and how firms determine their price policy, sales and promotion.

    In the second part, we will address specific aspects of firm behavior such as advertising, choice of quality and durability, pricing and marketing tactics. For each of these topics we will discuss the relevant legal structure governing and monitoring the industry and the economic rationale behind these regulatory policies.

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

    ECON 432. Government Regulation of Industry.

    Industrial Organization and Public Control

    Section 001.

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

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

    Credits: (3).

    Course Homepage: https://coursetools.ummu.umich.edu/2001/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 Regulationa nd Antitrust 3rd ed Viscusi, Vernon MIT Press

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

    ECON 435. Financial Economics.

    Monetary and Financial Economics

    Section 001.

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

    Prerequisites & Distribution: Econ. 401 and 405. (4). (Excl).

    Credits: (4).

    Course Homepage: https://coursetools.ummu.umich.edu/2001/winter/econ/435/001.nsf

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

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

    Text:

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

    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 & Distribution: Econ. 101 and 102. (3). (Excl).

    Credits: (3).

    Course Homepage: No Homepage Submitted.

    Analysis of Japan's economic organization, structure, and performance. Special emphasis is placed on the character of the Japanese financial system, the behavior of Japanese enterprises, the Japanese labor force, and the Japanese household. There will also be ample discussion of Japan's international economic relations. Attention will be given to bilateral and multilateral conflicts in overseas product, financial, and technology markets. The class has a lecture format, but questions are welcomed. Course grade will be determined by two one-hour exams and a final.

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

    ECON 466. Economics of Population.

    Economic Development

    Section 001.

    Instructor(s): Jennifer L Ward-Batts

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

    Credits: (3).

    Course Homepage: No Homepage Submitted.

    An introduction to economic analysis of demographic behavior. The course uses an economic perspective to analyze the dramatic changes in fertility, mortality, and marriage in recent decades in both industrialized and developing countries. Data on demographic and economic trends for a wide variety of countries are used throughout the course. The course demonstrates recent innovations in the application of microeconomic theory to demographic behavior, including fertility, marriage, and migration. Students are also introduced to basic techniques of demographic measurement and mathematical demography. Topics include the economic consequences of the baby boom, the effects of an older age structure on the social security system, and the relationship between population growth and natural resources. Computer-based exercises are used to illustrate economic and demographic concepts and examine empirical evidence from a variety of populations. Students write a paper providing an economic-demographic analysis of their home community or other geographic area. Other coursework includes problem sets, short writing assignments, and the midterm and final examinations.

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

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

    Other Topics in Economics

    Section 001.

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

    Prerequisites & Distribution: Econ. 101. AAS 201 recommended. (3). (Excl).

    R&E

    Credits: (3).

    Course Homepage: https://coursetools.ummu.umich.edu/2001/winter/econ/476/001.nsf

    See CAAS 457.001.

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

    ECON 483/Poli. Sci. 482. Positive Political Economy.

    Other Topics in Economics

    Section 001.

    Instructor(s): Yan Chen (yanchen@umich.edu)

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

    Credits: (3).

    Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ483/

    This course is an introduction to game theory and its application in political science. Fundamental solution concepts in game theory are first introduced by classroom experiments, then by rigorous mathematical analysis. Voting, legislative rules, bargaining, and other political processes will be modeled and analyzed using game theory.

    Textbooks: Positive Political Economics 2000 Burnham, Terry Harper Collins 0-738-20230-4

    Game Theory for Political Scientists 1994 Morrow Princeton 0-691-03430-3

    Political Theory Primer 1992 Ordeshook Taylor 0-415-90241-X

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

    ECON 490. Current Topics in Economics.

    Other Topics in Economics

    Section 001 Topic?

    Instructor(s): Janet Netz

    Prerequisites & Distribution: Econ. 401, 402, 404 or 405. (3). (Excl).

    Credits: (3).

    Course Homepage: No Homepage Submitted.

    No Description Provided

    Check Times, Location, and Availability


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

    Economic History

    Section 001.

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

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

    Credits: (3).

    Course Homepage: https://coursetools.ummu.umich.edu/2001/winter/econ/491/001.nsf

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

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

    ECON 495. Seminar in Economics.

    Honors Program, Internships, Seminars, and Independent Research

    Section 001 Applied Microeconomic Modeling

    Instructor(s): Stephen W Salant (ssalant@umich.edu)

    Prerequisites & Distribution: Econ. 401, 402, and 404 or 405; and permission of instructor. (3). (Excl). May be repeated for a total of six credits.

    Upper-Level Writing

    Credits: (3).

    Course Homepage: https://coursetools.ummu.umich.edu/2001/winter/econ/495/001.nsf

    This seminar illustrates how elementary microeconomic tools can be used to illuminate observed real-world phenomena and to evaluate alternative policy interventions. Three-person teams investigate in depth a single local, national, or international topic. The list of topics for the current year is presented at the first meeting.

    In addition to mainstream economics topics, students have crossed disciplinary boundaries modeling biological problems using the tools of microeconomics. Three recent papers have been published in journals or working paper series, and one was translated into Spanish and used to brief the President of Argentina's Central Bank. Emphasis will be on the accurate understanding of real-world institutional details and the art of isolating salient aspects of problems in a formal but tractable model. Papers and oral presentations will be required. Only students with a strong performance in 401 are admitted.

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

    ECON 495. Seminar in Economics.

    Honors Program, Internships, Seminars, and Independent Research

    Section 002 Measuring the New Economy

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

    Prerequisites & Distribution: Econ. 401, 402, and 404 or 405; and permission of instructor. (3). (Excl). May be repeated for a total of six credits.

    Upper-Level Writing

    Credits: (3).

    Course Homepage: http://www.econ.lsa.umich.edu/~shapiro/econ495/econ495.html

    Objectives: Rapid and dramatic changes in the structure of the economy pose significant challenges for measurement. What is the impact of information technology on productivity? How do new goods affect consumer welfare? Should our economic statistics reflect purchasing power or a broader measure of well-being? This Seminar in Economics will provide an introduction to the science of economic measurement. It will then examine in depth several topics in measuring the "new economy." It will give the students the opportunity to apply the economic theory and econometrics taught in the core curriculum.

    Requirements: The major requirement for this seminar is the submission of a completed research paper. This paper is due April 17, 2001 (no exceptions). Students will submit parts of the paper during the term to get feedback from the instructor and fellow students. They will also make presentations in the seminar related to their research. Other requirements include short writing assignments and problem sets, class presentations, and giving feedback on fellow students' drafts.

    Prerequisites: Economics 401 and 402; Economics 404 or 405/6; one other 400-level course in economics; permission of the instructor.

    Course outline:

    • Introduction to Economic Measurement
      • Index numbers for price, output, and productivity
      • National accounts
      • Measures of economic welfare

    • Topics in the "New" Economy
      • Information technology and productivity
      • e-Capital
      • New goods and new outlets
      • Using scanner data for measurement
      • Valuing innovation in health care
      • What measure of well-being? GDP versus alternatives
      • Output in the service sector (esp. finance)
      • Accounting for natural resources and pollution

      [Topics can be modified depending on students' interests.]

    Texts: A course pack available at Ulrich's. Jones, Introduction to Economic Growth. This text is available at Ulrich's.

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

    ECON 498. Honors Independent Research.

    Honors Program, Internships, Seminars, and Independent Research

    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

    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"

    ECON 556/Public Policy 556. Macroeconomics.

    Other Topics in Economics

    Section 001.

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

    Prerequisites & Distribution: Permission of instructor. (4). (Excl).

    Credits: (4).

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

    See Public Policy Studies 556.001.

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

    ECON 573/Public Policy 573. Benefit-Cost Analysis.

    Other Topics in Economics

    Section 001.

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

    Prerequisites & Distribution: Econ. 555. (4). (Excl).

    Credits: (4).

    Course Homepage: No Homepage Submitted.

    See Public Policy Studies 573.001.

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

    Graduate Course Listings for ECON.


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