Transfer Student Courses in Economics This page was created at 7:13 PM on Mon, Jan 21, 2002. Winter Academic Term, 2002 (January 7 - 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 Academic Term '02 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 102. Principles of Economics II. Introductory Courses Section 100. Instructor(s): E Philip Howrey (eph@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: 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. Major topics include the determinants of aggregate output, employment and unemployment, inflation, international trade, and economic growth. The course format is three hours of lecture per week (100) with the professor and one and one half hours of sections meetings (101-109); per week with a graduate student instructor. The section meetings are limited to 35 students. Contact Undergraduate Office, Dept. of Economics, 158 Lorch Hall. Check Times, Location, and Availability Cost: 2 Waitlist Code: No Data Given. ECON 102. Principles of Economics II. Introductory Courses Section 200. Instructor(s): Alan V Deardorff (alandear@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/~alandear/courses/102/102.html 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. Major topics include the determinants of aggregate output, employment and unemployment, inflation, the balance of international trade, and economic growth. The course format consists of three hours of lecture per week (200) by the professor and a one and a half hour section meeting (201-209) led each week by a graduate student instructor. The section meetings are limited to 35 students. Contact Undergraduate Office, Dept. of Economics, 240 Lorch Hall. Check Times, Location, and Availability Cost: 2 Waitlist Code: No Data Given. ECON 395. Topics in Economics and Economic Policy. Other Topics in Economics Section 001 – Business and Government. (3 Credits). Instructor(s): Doug Bice (dbice@umich.edu) Prerequisites & Distribution: Econ. 101 and 102. (1-3). (Excl). May be repeated for a total of six credits. Credits: (1-3). Course Homepage: https://coursetools.ummu.umich.edu/2002/winter/econ/395/001.nsf This course surveys the economic issues associated with government regulation of private enterprise. Significant federal antitrust, environmental, and safety legislation is considered. The concepts of efficiency, market structure, and externalities are central to the course. A fair understanding of the principles of microeconomics and a basic familiarity with partial differentiation is assumed. 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 002 – Bulls, Bears, Booms, and Busts. Instructor(s): Robert B Barsky (barsky@umich.edu) 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. This course will examine some especially interesting and dramatic episodes in 20th century macroeconomic history. The course meets only for the first half of the term, and can be elected for one or two credits. There will be extra written work for those who take the course for two credits. Probable topics are: Long swings in stock prices; "Consumer Confidence", with applications to the 1990-1991 recession and the present; The German Hyperinflation in the early 1920's; The Great Depression of the 1930's; The Collapse of the Bretton Woods international monetary system in the late 1960's; The Great Stagflation of the 1970's; and the stabilization of U.S. inflation in the 1980's, There is no textbook. Readings will be found on the web and/or in a coursepack. The grade will be determined by one exam (on the last day of class)and one or two papers. For one credit, the writing requirement is one paper of 8-10 pages. For two credits, students may write either two 8-10 papers, or one major paper. 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): Stanley Anthony Sedo (sasedo@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). 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 404. Statistics for Economists. Economic Theory and Statistics Section 004. 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 405 / STATS 405. Introduction to Statistics. Economic Theory and Statistics Section 001. Instructor(s): Michael B Woodroofe (michaelw@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 Stats. 265, 311, 400, or 412. Students with credit for Econ. 404 can only elect Econ. 405 for 2 credits and must have permission of instructor. (4). (Excl). (BS). (QR/1). Credits: (4). Course Homepage: No homepage submitted. See Statistics 405.001. 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): Stanley Anthony Sedo (sasedo@umich.edu) Prerequisites & Distribution: Econ. 405 or Statistics 426. (4). (Excl). (BS). Credits: (4). Course Homepage: No homepage submitted. 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 409. Game Theory. Economic Theory and Statistics Section 001. Instructor(s): Subir Bose (bsubir@umich.edu) 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 analyses intermediate situations like 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 problems in economics, biology, and political science. The current course will explore the beginnings of the subject using simple illustrative examples, including bargaining, auctions and duopolistic competition. Some calculus and matrix algebra will be needed, but the mathematical requirement is more for some sophistication in methods of argumentation rather than for specific techniques. Econ 401 provides motivation for many of the examples studied in this course. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. 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: No homepage submitted. 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 Regulation and Antitrust 3rd edViscusi, VernonMIT Press Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. ECON 442. International Finance. International Economics Section 001. Instructor(s): Andrew M Coleman (coldman@umich.edu) Prerequisites & Distribution: Econ. 402. (4). (Excl). Credits: (4). Course Homepage: No homepage submitted. The course is designed to provide students with an introduction to international finance that can be used in a career in banking, finance, government, or international trade. The course examines the key financial markets and instruments that are used to hedge risk and facilitate international trade and investment. It presents the standard theoretical models that are used to determine the value of exchange rates and to price other contracts such as futures and options, and then evaluates these models using statistical techniques. Various historical and contemporary examples are analysed to demonstrate the use of different risk management strategies. The course uses a variety of mathematical and statistical techniques including regression analysis to interprete international financial data. No statistical background is assumed, but various practical skills will be developed throughout the course. The assessment will comprise a mixture of problem sets, exams, and an assignment. 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 472. Intermediate Natural Resource Economics. Environmental Economics Section 001. Instructor(s): Michael R Moore Prerequisites & Distribution: Econ. 401 or NR&E 570. (3). (Excl). Credits: (3). Course Homepage: No homepage submitted. This course explains the conceptual framework used by economists to analyze the usage over time of replenishable resources (such as water, trees, fish, and wildlife) and nonreplenishable resources (such as oil or minerals). For each of these resources, increased consumption today inevitably has future consequences. The course therefore emphasizes the theory of intertemporal choice. Comparisons will be made between the market outcome when self-interested agents interact over time and the efficient (surplus-maximizing) intertemporal exploitation of the resources. The courses presumes familiarity with elementary probability, calculus, and static microtheory at the level of Economics 401 or equivalent. Grades will be based on hour test(s), problem sets, and a final exam. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. ECON 482. Government Revenues. Public Finance Section 001. Instructor(s): Joel B Slemrod (jslemrod@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. This course analyzes the major U.S. federal taxes, including the personal income tax, the corporate income tax, and the estate tax, in terms of their effect on the economy and how equitable they are. It also examines and evaluates commonly proposed tax changes, such as a flat tax and a national retail sales tax. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. ECON 492. World Economic History. Comparative Economic Systems and National Economies Section 001. Instructor(s): Benjamin Remy Chabot (remy@umich.edu) Prerequisites & Distribution: Econ. 401 and 404 (or 406). (3). (Excl). Credits: (3). Course Homepage: No homepage submitted. Examines the causes and consequences of world economic development. Topics include: the effects of the agricultural and industrial revolutions, law, global integration, and finance on economic growth and standards of living. Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given. This page was created at 7:13 PM on Mon, Jan 21, 2002. 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