Override Procedures for Economics 101 and 102: Please contact Shannon Dewolf for details in the Undergraduate Economics Office (158 Lorch Hall, 763-9242). Office hours for Winter Term will be Monday-Friday 8:00-12:30 and 1-4:30. Shannon Dewolf will be available to answer questions about the Economics concentration requirements, college or department policies and procedures, and general university information. Students can schedule advising appointments by calling or stopping by the office.
Override procedures for 300- and 400-level courses will be handled by the faculty member in charge.
Prerequisites & Distribution: Econ. 101. No credit granted to those who have completed or are enrolled in Econ. 400. (4). (SS). (QR/2).
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: 2 | Waitlist Code: 1, 5: Contact Undergraduate Office, Dept. of Economics, 158 Lorch Hall |
Prerequisites & Distribution: Econ. 101 and 102, and Math. 115. (4). (SS). (QR/1).
Credits: (4).
Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ401_F99
This course deals with the theoretical analysis of consumers, firms, markets, and price determination. The analysis is rigorous, using the tools of algebra, geometry, and elementary calculus in constructing models.
Prerequisites include one term of calculus. Economics 401 is a prerequisite for many other courses offered in Economics. Concentrators in economics are required to elect this course and are encouraged to complete it early in their concentration program. It is not recommended that 401 and 402 be taken in the same term. Lecture and discussion sections will both meet twice a week.
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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.
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Prerequisites & Distribution: Math. 217. (3). (Excl). (BS).
Credits: (3).
Course Homepage: No Homepage Submitted.
This course will consist of an introduction to the subject of game theory. Game theory has become an important technique for studying competitive and cooperative phenomena in economics and the social sciences. Traditional economics emphasizes the two extremes of economic decision-making: perfect competition, in which no firm can affect market prices, and pure monopoly, in which one firm has complete price-setting power.
Game theory is a technique which allows intermediate situations to be analyzed: for example, those that arise during wage negotiations or in price wars between two large firms. The same principles that govern the strategic interaction of players in parlor games like Chess or Poker turn out to be widely applicable to a whole range of such phenomena in economics, biology, and political science. The current course will explore the beginnings of the subject using simple illustrative examples. Some calculus and matrix algebra will be needed, but the mathematical requirement is more for some sophistication in methods of argumentation and proof rather than for specific techniques.
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Prerequisites & Distribution: Econ. 401 and 405. (3). (Excl).
Credits: (3).
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. 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.
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Prerequisites & Distribution: Econ. 402. (4). (Excl).
Credits: (4).
Course Homepage: No Homepage Submitted.
The purpose of the course is to study the macroeconomics and financial linkages between countries. The topics covered in the course include the international parity conditions in goods and financial markets, models of exchange rates, the efficiency of foreign exchange markets, the costs and benefits of alternative exchange rates regimes, balance of payments crises, and the gains from international diversification through international bond and stock markets.
In each subject area, we examine the underlying economic theory and then evaluate the theory in light of recent empirical evidence. The course requirements are graded problem sets, two midterms and a final exam.
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Prerequisites & Distribution: Econ. 401 or NR&E 570. (3). (Excl).
Credits: (3).
Course Homepage: No Homepage Submitted.
This course is a three-part introduction to the economics of environmental
policy.
The first part of the course compares the four main policy measures
used to regulate polluters, namely (1) imposing taxes on pollution, (2)
setting standards on allowable emissions, (3) issuing tradable pollution
permits, and (4) holding polluters legally liable for environmental damages.
Also, a new policy measure is discussed that has recently become popular,
namely (5) simply making information about the pollution available to the
public. These measures are compared in terms of their overall efficiency, the
incentives for technological innovation that they provide, and their ease of
enforcement.
The second part of the course discusses why it is difficult to
put a dollar figure on the benefits of environmental regulation, and how
economic theory can be used to get around this problem.
Finally, the third part of the course covers miscellaneous topics such as the economics of biodiversity, the environmental effects of trade and development, and the economics of global warming.
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This page was created at 8:06 AM on Wed, Jan 19, 2000.