Transfer Student Courses in Economics This page was created at 12:37 PM on Thu, Oct 4, 2001. Fall Academic Term, 2001 (September 5 - December 21) 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 Fall Term '01Time Schedule for Economics. ECON 101. Principles of Economics I. Introductory Courses Section 100 – HOURLY EXAMS FOR SECTION 200 WILL BE THUR OCT 11 & WED NOV 7, 8-10 PM. 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 Econ. 400. (4). (SS). (QR/2). Credits: (4; 3 in the half-term). Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ101_100_200_F01/ 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 Micro3rd EdTaylor Econ of Public Issues12th EdMiller Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1 ECON 101. Principles of Economics I. Introductory Courses Section 300. Instructor(s): Sherrie A Kossoudji (kossoudj@umich.edu) Prerequisites & Distribution: High school algebra and geometry. 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: http://coursetools.ummu.umich.edu/2001/fall/econ/101/301.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 102. Principles of Economics II. Introductory Courses Section 100. 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). Credits: (4; 3 in the half-term). Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ102_100_F01/ 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 coursepack, 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 404. Statistics for Economists. Economic Theory and Statistics Section 200. Instructor(s): Chul-In Lee 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). Credits: (4). Course Homepage: No homepage submitted. Economics 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. There are two lectures and one problem set per week. The course is self-contained and does not serve as a prerequisite to Economics 406. 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. Instructor(s): Subir Bose Prerequisites & Distribution: Econ. 402, and 404 or 405. (3). (Excl). Credits: (3). Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/econ/411/001.nsf Modern financial markets and the role of monetary policy in influencing asset prices and the economy. Formal development of monetary and financial economics. Topics include interest rate determination, portfolio theory, regulation of financial institutions, money supply and demand, and monetary policy. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. ECON 412. Topics in Macroeconomics. Monetary and Financial Economics Section 001. Instructor(s): Zvi Hercowitz Prerequisites & Distribution: Econ. 402. (3). (Excl). Credits: (3). Course Homepage: No homepage submitted. The course covers the following topics: Consumption, the Permanent Income Hypothesis Investment, optimal capital accumulation Labor and supply and labor demand General equilibrium in a model with the components in (1), (2) and (3) Including a government in the model, expenditure, taxation and deficits Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. ECON 414. Growth Theory. Economic Theory and Statistics Section 001. Instructor(s): Dmitriy L Stolyarov (stolyar@umich.edu) Prerequisites & Distribution: Economics 401 & 402. (4). (Excl). Credits: (4). Course Homepage: No homepage submitted. This is an advanced undergraduate course in macroeconomic theory with the focus on economic growth (students must complete extra materials for graduate credit). 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 is the role of social infrastructure in 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, 1st ed., W.W. Norton. Course pack (CP), available at Ulrich's Bookstore. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. ECON 421. Labor Economics I. Labor Economics Section 001. Instructor(s): George E Johnson (gjohnson@umich.edu) Prerequisites & Distribution: Econ. 401. (3). (Excl). Credits: (3). Course Homepage: No homepage submitted. This course deals with the economics of labor supply and demand, wage and employment determination, investment in education and training, and unemployment. The course develops microeconomic models of the labor market, presents relevant empirical evidence, and discusses applications to such policy issues as the work incentive effects of income maintenance programs and the employment effects of minimum wage legislation. Grades are based on midterm and final examinations. 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 404 or 405. (4). (Excl). Credits: (4). Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/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: No Data Given. ECON 442. International Finance. International Economics Section 001. Instructor(s): Zvi Hercowitz Prerequisites & Distribution: Econ. 402. (4). (Excl). Credits: (4). Course Homepage: No homepage submitted. The course covers two broad topics: Fiscal and monetary policy in an open economy This part of the course centers on the Mundell-Flemming model. Fiscal and monetary policy under flexible and fixed exchange rates. Interaction between economic policies and capital mobility. Conflicts of interests between the Central Bank and the Treasury. Saving, investment and the balance of payments The discussion here is based on a simple intertemporal framework. The households decide on consumption and saving and the firms decide on investment and capital accumulation. The effects of government spending, taxation, and deficits on national saving and the balance of payments. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. ECON 453. The European Economy. Comparative Economic Systems and National Economies Section 001. Instructor(s): William J Adams (jimadams@umich.edu) Prerequisites & Distribution: Econ. 401. (4). (Excl). 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, prospects for monetary union, 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 class. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. 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 Japanese economic policy making and the behavior of Japanese enterprises and financial institutions, the Japanese labor force, and the Japanese household. There will also be ample discussion of Japan's international economic relations and its current macroeconomic and structural problems. Attention will be given to bilateral and multilateral conflicts in overseas product, financial, and technology markets. 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. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. ECON 471 / NRE 571. Environmental Economics. Environmental Economics Section 001. Instructor(s): Gloria Helfand (ghelfand@umich.edu) Prerequisites & Distribution: Econ. 401 or NR&E 570. (3). (Excl). Credits: (3). Course Homepage: http://coursetools.ummu.umich.edu/2001/fall/nre/571/001.nsf Economics 471 is a broad introduction to market failure, with theoretical, empirical, institutional, and historical perspectives on current U.S. environmental problems. This course is intended primarily for upper-division undergraduates in the economics concentration and for graduate students from outside economics (but note carefully the prerequisite – comfort with calculus and a recent, challenging intermediate microeconomic theory course are essential). The format for most classes is lecture-with-interruption, with time allocated for questions and discussions. The course deals with: (1) the economic theory of externalities and public goods (and “public bads”); and (2) the economic analysis of current U.S. environmental policy, emphasizing air and water pollution and waste problems – generation, collection, recycling, and disposal (emphasizing municipal solid waste, low-level radioactive waste, and Superfund). There will be regular unannounced short quizzes and a cumulative final exam. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. ECON 481. Government Expenditures. Public Finance Section 001. Instructor(s): Julianne Berry Cullen (jbcullen@umich.edu) Prerequisites & Distribution: Econ. 401. No credit granted to those who have completed or are enrolled in 380. (3). (Excl). Credits: (3). Course Homepage: No homepage submitted. Economics 481 studies the role of government in the economy. Topics covered include public goods, collective choice, externalities, income redistribution, and social insurance. In considering these topics, emphasis will be placed on both theoretical issues and applications to current policy. The class format will combine lecture and discussion. Students will be evaluated based on performance on problem sets and exams. A solid grounding in microeconomics and practice with mathematical optimization will make the course more accessible. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. ECON 482. Government Revenues. Public Finance Section 001. Instructor(s): Chul-In Lee Prerequisites & Distribution: Econ. 401. No credit granted to those who have completed or are enrolled in 380. (3). (Excl). Credits: (3). Course Homepage: No homepage submitted. No credit granted to those who have completed or are enrolled in Econ. 380. This course analyzes the equity and efficiency effects of major U.S. taxes, including the personal income tax, the corporate income tax, and the social security tax. It also examines commonly proposed tax changes. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. This page was created at 12:37 PM on Thu, Oct 4, 2001. University of Michigan | College of LS&A | Student Academic Affairs | LS&A Bulletin Index | Department Homepage This page maintained by LS&A Academic Information and Publications, 1228 Angell Hall Copyright © 2001 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.