2024-2025 Course Catalog

Please note: The information displayed here is current as of Thursday, November 21, 2024, but the official Course Catalog should be used for all official planning.

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Economics

Associate professorsD. Fitz (chair), A. Galambos (Dwight and Marjorie Peterson Professor of Innovation), D. Gerard (The John R. Kimberly Distinguished Professor of the American Economic System), J. Lhost
Assistant professorsH. Caruthers, V. Nguyen (Assistant Professor of Economics)

The Lawrence economics department emphasizes abstract modeling and quantitative reasoning skills. Students acquire a basic knowledge of economic theories, principles, and techniques of analysis. They then apply these concepts and tools to issues such as poverty and discrimination, environmental degradation, and antitrust policy.

Students learn early on that modern economics is an application of mathematical modeling to the study of human behavior. The interdisciplinary mathematics-economics major provides a strong foundation for graduate work in economics, where mathematical aptitude is at a premium. This route also provides outstanding preparation for technical business careers, such as investment banking, management consulting, and finance.


Required for the major in economics

Students who complete the major will demonstrate an understanding of the unique concepts and theoretical perspectives of economics. They will comprehend and critically analyze articles from the economics literature. Students will utilize the analytical tools of micro and macroeconomics (such as constrained optimization, the Solow growth model, or others) and they will be able to work with and interpret data, including descriptive analysis, conventional statistical analysis (including regression analysis), and formal causal arguments.

The major in economics requires the following:

  1. ECON 100: Introductory Economics
  2. The following mathematics courses:
    1. MATH 140: Calculus I
    2. STAT 255: Statistics for Data Science (or equivalent)
  3. Intermediate theory (majors must take all three courses prior to completion of the junior year):
    1. ECON 300: Microeconomic Theory
    2. ECON 320: Macroeconomic Theory
    3. ECON 380: Econometrics
  4. Twelve additional units in courses numbered 200 or higher (up to six units of student-initiated courses may count toward these) and eighteen additional units in courses numbered 400 or higher (no student-initiated courses may be used to count toward these). The Senior Experience requirement does not count toward these thirty units of electives.
  5. Complete the Senior Experience in economics by taking ECON 601: Senior Experience: Reading Option or ECON 602: Senior Experience: Research Paper Option as described below.

The Economics Department must approve any exception to the above requirements.


Required for the interdisciplinary major in mathematics-economics

Students who complete the major in mathematics-economics will pursue the outcomes described for the economics and mathematics majors with an explicit focus on economics in constructing and critiquing mathematical arguments. Students pursuing the major must have an advisor in each department.

The major in mathematics-economics requires the following:

  1. MATH 140: Calculus, MATH 155: Multivariable Calculus.
  2. MATH 200: Complex Sequences & Series, MATH 230: Discrete Mathematics, Math 250: Linear Algebra.
  3. STAT 255: Statistics for Data Science, MATH 340: Probability.
  4. One of the following courses: STAT 445: Mathematical Statistics, STAT 450: Bayesian Statistics, MATH 510: Real Analysis.
  5. ECON 100: Introductory Economics.
  6. ECON 300: Microeconomics, ECON 320: Macroeconomics, ECON 380: Econometrics.
  7. One 6-unit ECON course numbered between 400 and 580.
  8. Senior Experience: either the completion of three units of ECON 602 alongside three units of STAT 698 or STAT 699 or MATH 699, or a 6-unit independent study project that has been approved by both departments.

Senior Experience in economics

The economics curriculum culminates with a one-term three-unit Senior Experience course required for all majors. Each year, two sections of the course will be offered. In one section (ECON 601), students read a monograph by a formidable economist or a piece of central interest to economists and engage in active discussion; each student produces a term paper in reaction to the reading. In the paper, students must relate the reading to theories and applications they studied in economics courses. The monograph will be selected by the faculty member teaching the course. This Senior Experience option is designed to mirror the First Year Studies experience at the end of the student’s career at Lawrence.

In the other section (ECON 602), each student is expected to produce a research paper that stands up to the standards of the profession. To register for this section, students must already have a research idea, generally developed in a 400-level course, and discuss a research proposal with the 602 instructor. Students must explain how the previous paper will be improved, refined and polished in content and in form so that it stands up to the standards of the profession. Instructor approval of this proposal is a prerequisite for registration.

Interdisciplinary mathematics-economics majors will need to complete a 6-unit independent study project in which they demonstrate the ability to combine topics in both disciplines—bringing appropriate techniques of mathematics or statistics to bear on the study of economics, or learning mathematics or statistics suggested by models in economics. Students who plan to complete this interdisciplinary major must have their Senior Experience proposal approved by one advisor in the department of mathematics and one in the department of economics prior to the term in which they plan to complete the experience.


Required for the minor in economics

  1. ECON 100: Introductory Economics or ECON 300: Microeconomic Theory
  2. Six additional six-unit courses, at least five of which must be economics courses numbered 200 or above and one that could be a mathematics or statistics course. Only six units of tutorial or independent study may count as one of these six courses.

Teacher certification in social studies (grades 4-12)

Economics majors can seek certification to teach social studies at the secondary level. Along with the major, students must take one course in each of history, government, psychology, and anthropology or ethnic studies, and a second course in two of these fields. Students are urged to take courses in both U.S. history and global history. A course in environmental studies (such as ENST 151) is also required. Students who plan to seek teacher certification should review the requirements in the Education section of the catalog and meet with the director of teacher education, preferably before the end of the sophomore year.


Course structure and numbering

ECON 100 is a survey course and is an excellent introduction to the discipline, even for those with high school courses in economics.

The 200-level courses apply basic theory to particular fields of inquiry and should be accessible to students with a sound introductory course.

The 300-level courses are intermediate theory courses that are foundational for the economics discipline. A sequence of 300-level courses is required of all majors.

The 400-level courses are advanced applications courses.

The 500-level courses are graduate-school preparatory courses. 

The Senior Experience courses are at the 600-level. 


Recommendations

ECON 100 and ECON 225 are excellent either as stand-alone courses or as gateways into the discipline. We recommend that all majors and minors take these courses.

For the economics or mathematics-economics major:

  • Speak to a professor in the department about mapping curricular choices. 
  • Take MATH 140 as soon as possible. 
  • Students preparing for graduate work in economics should seriously consider the mathematics-economics major or majoring in both economics and in mathematics.
  • Students interested in careers in public policy, business, statistics, or in an M.B.A. in a quantitative field should seriously consider the Statistics and Data Science minor. 

Courses - Economics

ECON 100: Introductory Economics

A first course in economics focusing on the basic analytical framework used by contemporary economists. The central topics typically include supply and demand, market competition, market power, incomplete markets (e.g., externalities and public goods), trade, and taxation. Classroom experiments are frequently employed to develop economic intuition.
Units: 6

ECON 151: Introduction to Environmental Policy

This course applies principles of economics and political science to environmental issues, including pollution, resource limitation, and environmental degradation. It is designed to foster an understanding of the environmental policy-making and regulatory process in the United States and globally.
Units: 6
Also listed as Environmental Studies 151, Government 151

ECON 191: Directed Study in Economics

Directed study follows a syllabus set primarily by the instructor to meet the needs or interests of an individual student or small group of students. The main goal of directed study is knowledge or skill acquisition, not research or creative work. PREREQUISITES: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.
Units: 1 TO 98
Prerequisite: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.

ECON 195: Internship in Economics

Applied work with a private firm or public-sector agency in economics, arranged under the direction of an instructor in the department. In each case, the academic credit is based on related readings, reports, and presentations. PREREQUISITES: ECON 300, 320, or 380; To register student must complete the Student Initiated Course Form with consultation of supervising instructor
Units: 1 TO 98
Prerequisite: ECON 300, 320, or 380; To register student must complete the Student Initiated Course Form with consultation of supervising instructor

ECON 200: Economic Development

This course seeks to provide students with a broad based understanding of economic development and the choices countries face. To obtain such an understanding, students will read the works of contemporary economists who provide a variety of approaches to poverty alleviation and the tradeoffs that must be confronted. Emphasis will be placed on close reading, class discussion, and on writing a number of papers that compare and contrast different views of economic development. PREREQUISITES: ECON 100
Units: 6
Also listed as Government 276
Prerequisite: ECON 100

ECON 202: Global Economic Relations

This course covers the major concepts utilized in the field of international political economy. Major issues covered include debates about globalization, trade policy and free-trade agreements, monetary policy and currency regulation, aid and development, immigration policy and labor migration, global corporations, and international institutions such as the World Bank, IMF, and WTO. PREREQUISITES: Sophomore standing and ECON 100. GOVT 140 or GOVT 340 recommended.
Units: 6
Also listed as Government 275
Prerequisite: Sophomore standing and ECON 100. GOVT 140 or GOVT 340 recommended.

ECON 203: Latin American Economic Development

This course combines economic theory, policy and historical accounts to understand the forces shaping Latin American economic development. Students will gain an understanding of major theories and trends in Latin American development while analyzing specific development issues, including equitable growth, agriculture, migration, gender equity, education, and health. Students will complete thoughtful critiques of readings, problem sets analyzing real data, and in-depth evaluations of specific issues. PREREQUISITES: ECON 100
Units: 6
Also listed as Government 203
Prerequisite: ECON 100

ECON 204: Effective Altruism

Effective altruism acknowledges that individuals want to help others while examining the most effective ways to do so. Taking a global approach that draws on development, health and experimental economics, this course compares differences in relative welfare and opportunity and evaluates the effectiveness of causes like health interventions, cash transfers, and gender equity. Emphasis placed on close reading problem sets, quizzes, research papers and discussions. PREREQUISITES: ECON 100
Units: 6
Prerequisite: ECON 100

ECON 205: Introduction to International Economics

This course aims to develop an understanding of international economic issues and policies in open economies. The course will provide a general body of knowledge on topics such as gains from trade; patterns of trade; effect of trade on welfare; exchange rate policy regimes; international organizations; financial crises; and the effect of government policies on trade and the exchange rate. You will get exposed to economic modeling and learn analytical tools that can be applied to understand the changing world economy and analyze problems in international economic policy. You are encouraged to explore the potential and limitations of international economics in dealing with real-world problems. This course will assist you in improving your economic writing skills as well as your ability to read critically and understand discussions on international economic issues in the press. PREREQUISITES: ECON 100
Units: 6
Also listed as Global Studies 207
Prerequisite: ECON 100

ECON 206: Field Experience in Development

Students engaged in this course will have the opportunity to do field research in a developing country. Each student will develop and implement a project that concerns a political, economic, social, or environmental issues that is important in the country visited. Past Field Experiences have taken place in Sierra Leone, Ghana, Jamaica, and Morocco. Students will also have the opportunity to learn from both national and local leaders in the country of research, and to participate in community engaged learning through volunteer activities. Class members will actually travel during either winter or spring break. Students should register for ECON 206 in the term prior to the planned travel. They should also register in the subsequent term, when they will present their research to the wider Lawrence community.

Location for 2021-22: Students will travel to a to be determined location during spring break (March 2022).. Admission is by application to Prof. Skran. Students should register for both winter and spring terms 2022.



Planned Location for 2022-23 To be determined PREREQUISITES: ENST 300, GOVT 248, GOVT 500 and RLST 240
Units: 3
Also listed as Innovation & Entrepreneurship 401, Business and Entrepreneurship 401, Government 401, Global Studies 401, Environmental Studies 311
Prerequisite: ENST 300, GOVT 248, GOVT 500 and RLST 240

ECON 214: Markets of London

A "market" is often a supply-demand graph in economics. Outside economics classes, markets are vibrant, bustling centers of community life, meeting places, crossroads, and, of course, places of exchange. And London, with its many markets of all kinds, is the perfect place to put real markets into "market economics." This course serves as an introduction to market economics through the lens of actual, real-world markets.
Units: 6

ECON 215: Comparative Economic Systems

This course introduces students to the different ways societies have organized economic activity in the past and in the present as well as to how economic and social policy questions are addressed under these different arrangements. Students will study the economies of the Western world, the former Soviet bloc countries, and Asian countries at various stages of economic development. PREREQUISITES: ECON 100
Units: 6
Prerequisite: ECON 100

ECON 216: Socialism and Capitalism in Britain, Past and Present

Britain is the birthplace of industrial capitalism and of modern economics. But the roots of socialism also lead us to Britain. The Poor Laws are precursors of the welfare system. A number of important socialist authors were British or wrote in and about Britain, and the British labor movement has a rich history. In this course, we will explore the development of capitalism, the evolution of the welfare system, the labor movement, and socialist proposals in Britain.
Units: 6

ECON 221: Money and Banking

This course introduces students to money, banking, and financial markets. We will discuss topics including the functions of money, the monetary system, bank management, the behavior of financial markets, the risk and term structure of interest rates, and the role of United States financial institutions. Students will read carefully, complete regular problem sets, and take quizzes and exams. PREREQUISITES: ECON 100
Units: 6
Also listed as Business and Entrepreneurship 221
Prerequisite: ECON 100

ECON 223: Quantitative Decision-Making

Students will learn ways to aid decision-making by applying a scientific approach to decision problems involving quantitative factors: defining the problem, gathering data, formulating a model of the problem, developing computer-based procedures for evaluating solutions, testing and refining the model, analyzing the model’s alternatives, and communicating the results. Many assignments and exams will be completed using Excel, so students will also gain advanced Excel skills. PREREQUISITES: Sophomore standing
Units: 6
Also listed as Mathematics 223
Prerequisite: Sophomore standing

ECON 224: Quantitative Decision-Making 2

QDM2 picks up where QDM leaves off, asking students to create solutions more autonomously and examining more complex decision problems. For example, we may examine nonlinear optimization with multiple decision variables and more complex decision-making under uncertainty, including the use of simulation models, probability distributions, and Bayes Rule. Many assignments and exams will be completed using Excel, building on the Excel skills developed in QDM. PREREQUISITES: Econ 223 and STAT 255, or Econ 223 and instructor approval
Units: 6
Also listed as Mathematics 224, Business and Entrepreneurship 424
Prerequisite: Econ 223 and STAT 255, or Econ 223 and instructor approval

ECON 225: Introduction to Game Theory
Introduction to Game Theory

This course will present a thorough introduction to decision theory, the study of how people should or do make decisions. Building on that foundation, game theory, the science of strategy, will be introduced, with economic applications.
Units: 6

ECON 226: Sports Economics and Analytics

In this course, students learn to evaluate ideas with carefully analyzed data. We will use sports to evaluate economic questions (Do players and coaches optimize? Where do we observe discrimination?) and use empirical tools to evaluate sports questions (Is conventional wisdom optimal? How do we evaluate players?). Students will complete quizzes, assignments, and final projects using statistical software. PREREQUISITES: ECON 100, and STAT 107 or STAT 255
Units: 6
Prerequisite: ECON 100, and STAT 107 or STAT 255

ECON 245: Law and Economics

Along with an introduction to legal analysis, a study of the political economy of four core areas of the law: property, contracts, torts, and crime and punishment. Applies rational-choice theories to both economic and political decisions involving the law. PREREQUISITES: ECON 100 or consent of instructor
Units: 6
Prerequisite: ECON 100 or consent of instructor

ECON 252: Sustainable Cities

How can cities be sustainable? The increasing urbanization of the world's population, shift to service-driven economies, and growing diversity of cities make this question pressing and complicated. This course introduces economic, environmental, and social dimensions of the urban sustainability problem and explores responses to it through a two-week December study trip to London and Amsterdam and winter term studies and poster presentations. Program fee is required. Students pay their own airfare. PREREQUISITES: An introductory course in GOVT, ECON, ENST or GLST, or consent of instructor
Units: 3
Also listed as Government 252, Environmental Studies 252
Prerequisite: An introductory course in GOVT, ECON, ENST or GLST, or consent of instructor

ECON 255: Start-Up Theatre

Open to students from theatre, economics, and other students interested in entrepreneurship in the performing arts. Topics change each year. May be repeated when topic is different up to 6 total units. PREREQUISITES: Sophomore standing
Units: 1 TO 3
Also listed as Theatre Arts 255, Innovation & Entrepreneurship 255
Prerequisite: Sophomore standing

ECON 271: Public Economics

Public economics covers a range of topics from taxation to social insurance and redistribution to homeland security. The course develops a template for framing and analyzing public policy issues that provides a basis for understanding the rationale for government intervention, the alternative policy instruments that can be used to affect economic outcomes, and the economic tools used to evaluate the effects of intervention. PREREQUISITES: ECON 100
Units: 6
Also listed as Government 274
Prerequisite: ECON 100

ECON 280: Environmental Economics

The course shows how economists analyze environmental problems and the types of solutions they propose (if any). Topic coverage includes property rights and externalities, cost-benefit analysis, regulatory policy instruments, the interplay between policy and innovation, and basic models of political economy. PREREQUISITES: ECON 100 or ENST 151
Units: 6
Also listed as Environmental Studies 280
Prerequisite: ECON 100 or ENST 151

ECON 285: Natural Resource & Energy Economics

Markets are the central mechanism facilitating production and exchange of energy and resource commodities. The course material provides foundational economics concepts to address related topics, including resource availability, resource conflicts (tradeoffs), infrastructure choices, and especially resource and energy prices. The back end of the course focuses on strategies to foster greener energy systems, focusing specifically on electricity systems. PREREQUISITES: ECON 100
Units: 6
Also listed as Environmental Studies 285
Prerequisite: ECON 100

ECON 289: Natural Resource Governance

This course will consider different modes of corporate governance, including ESG (environmental, social, and governance) and CSR (corporate social responsibility). Students will learn the history and evolution of corporate governance strategies and the application of ESG to energy and natural resources markets, as well as in different cultural contexts. The course will be based on a lecture/discussion model with assignments including exams, class debate, paper, and a group project. PREREQUISITES: Econ 100 and sophomore standing or Instructor Approval
Units: 6
Also listed as Business and Entrepreneurship 370
Prerequisite: Econ 100 and sophomore standing or Instructor Approval

ECON 295: Topics in Economics

Each offering will build on modeling and reasoning techniques developed in the introductory-level courses (ECON 100 or 120). Topics depend on the instructor and will vary year-to-year. Topics include, but are not limited to, economics of the arts, financial economics, economics of sports, and economic history. May be repeated for credit if the topic is different.

Topic for Spring 2020: Topics in the Economics of Pandemics
The course explores the use of economic analysis and quantitative policy tools to address the public policy challenges of preparing for and responding to the outbreak and spread of infectious diseases (including, of course, the coronavirus SARS-CoV-2 current wreaking havoc across the globe). Topics include the development of basic literacy, vocabulary, and concepts related to infectious disease outbreaks, the public policy architecture for preparing and responding to these outbreaks, and the macroeconomic effects of disease pandemics.

Units: 6
Prerequisite: ECON 100 or permission of instructor

ECON 300: Microeconomic Theory

A study of the microeconomic foundations of economics. The course focuses on equilibrium models for consumers and firms in competitive markets, as well as deviations from perfect competition. PREREQUISITES: Sophomore standing and ECON 100 and MATH 140 or MATH 130
Units: 6
Prerequisite: Sophomore standing and ECON 100 and MATH 140 or MATH 130

ECON 320: Macroeconomic Theory

An exploration of contemporary theories of employment, income, inflation, and stabilization as regards the United States and other industrialized countries. Emphasis on the application of models to foster understanding of macroeconomic policy. PREREQUISITES: MATH 130 or MATH 140, ECON 300
Units: 6
Prerequisite: MATH 130 or MATH 140, ECON 300

ECON 380: Econometrics

Statistical techniques and statistical problems applicable to economics, focusing on ordinary least-squares regression, classical inference, and detections of and adjustments for violations of the Classical Assumptions. PREREQUISITES: Sophomore standing, STAT 255; previous course in economics recommended
Units: 6
Prerequisite: Sophomore standing, STAT 255; previous course in economics recommended

ECON 390: Tutorial Studies in Economics

Intermediate readings, discussions, and essays in economic problems of special interest to the student. PREREQUISITES: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.
Units: 1 TO 98
Prerequisite: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.

ECON 391: Directed Study in Economics

Directed study follows a syllabus set primarily by the instructor to meet the needs or interests of an individual student or small group of students. The main goal of directed study is knowledge or skill acquisition, not research or creative work. PREREQUISITES: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.
Units: 1 TO 98
Prerequisite: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.

ECON 395: Internship in Economics

Applied work with a private firm or public-sector agency in economics, arranged under the direction of an instructor in the department. In each case, the academic credit is based on related readings, reports, and presentations. PREREQUISITES: ECON 300, 320, or 380; To register student must complete the Student Initiated Course Form with consultation of supervising instructor
Units: 1 TO 98
Prerequisite: ECON 300, 320, or 380; To register student must complete the Student Initiated Course Form with consultation of supervising instructor

ECON 399: Independent Study in Economics

Intermediate research on a topic of the student’s choice, organized in consultation with an instructor. PREREQUISITES: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.
Units: 1 TO 98
Prerequisite: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.

ECON 400: Industrial Organization

Industrial organization is the study of how markets are structured and why it matters. The course begins with the standard applied microeconomic treatment of economic regulation (e.g., antitrust, natural monopoly, advertising restrictions) and then explores disequilibrating phenomena, including entrepreneurship and innovation. PREREQUISITES: ECON 300, ECON 380 recommended
Units: 6
Prerequisite: ECON 300, ECON 380 recommended

ECON 405: The Economics of Innovation & Entrepreneurship

This course examines economic theories of innovation and entrepreneurship (I&E), the role of I&E in the economy, and policy questions related to I&E. Theories are discussed in the context of the history and current prevalence of innovation and entrepreneurship in modern economies. PREREQUISITES: ECON 300
Units: 6
Prerequisite: ECON 300

ECON 410: Advanced Game Theory and Applications

This course develops game theory, the science of strategic interaction, i.e., interdependent individuals seeking to promote their self interest, with applications in economics, biology, and philosophy. The mathematical nature of game theoretic models will be reflected in a focus on problem solving. Sufficient mathematical maturity required. PREREQUISITES: MATH 130 or MATH 140; MATH 300 recommended
Units: 6
Prerequisite: MATH 130 or MATH 140; MATH 300 recommended

ECON 415: Individuality & Community

This course studies how political theorists responded to the emergence of open societies in the West. It focuses on the scope of personal autonomy, the consequences of commerce and luxury, the best political and economic arrangements, and other topics explored by writers from the Renaissance to the Twentieth Century. PREREQUISITES: Junior standing or consent of instructor
Units: 6
Also listed as Government 405
Prerequisite: Junior standing or consent of instructor

ECON 420: Money and Monetary Policy

This course continues the discussion of important principles of money, banking, and financial markets. We will examine more carefully and in more detail the connections between the financial system and the macro-economy. This course emphasizes the role of central banks, financial institutions, and global capital flows in economic growth and price stability. Students will read carefully, complete regular problem sets, take quizzes and exams, and do group presentations. PREREQUISITES: ECON 320
Units: 6
Prerequisite: ECON 320

ECON 430: Economic Growth and Poverty Traps

This course provides advanced coverage of economic growth and poverty traps. We first explore canonical economic growth models, focusing on capital accumulation, productivity, population growth, and the growth of ideas. We next explore the determinants of growth, the role of policy, and factors that limit development. Class will combine lecture and active group work, with students completing reading, problem sets, and projects outside of class. PREREQUISITES: ECON 300, 320, and 380
Units: 6
Prerequisite: ECON 300, 320, and 380

ECON 444: Political Economy of Regulation

The term political economy classically refers to the interface between the private and public sectors, including the regulation of market activity. This course focuses specifically on the once and future of United States antitrust regulation of Big Business, from the heyday of the Chicago meat packers to the current issues surrounding big tech, and hence is colloquially known as the “Big Seminar.” PREREQUISITES: ECON 300 and ECON 380 recommended
Units: 6
Also listed as Business and Entrepreneurship 444, Innovation & Entrepreneurship 444, Government 444
Prerequisite: ECON 300 and ECON 380 recommended

ECON 450: Economics of the Firm

Even in a “market” economy, the preponderance of economic activity is carried out through firms and other organizations. The course examines economic theories of the firm, and explores some of the canonical questions, such as why are there firms, how the separation of ownership and control of a firm shapes decision making, what determines the boundary between organizations and markets (e.g., make-or-buy decisions), what types of firms are most innovative, and how new technologies affect organizational structure. PREREQUISITES: ECON 300 or GOVT 271
Units: 6
Also listed as Innovation & Entrepreneurship 450, Business and Entrepreneurship 450
Prerequisite: ECON 300 or GOVT 271

ECON 466: Globalization, Poverty, and Development

This course is an exploration of how economic globalization shapes growth, development, and poverty outcomes in non-rich countries. We focus on three vehicles of economic globalization: trade (goods), foreign investment (capital), and migration (people). Our exploration is facilitated by careful reading and discussion of contemporary development research. Students will use real-world data to compare recent trends with theoretical predictions. PREREQUISITES: Econ 300 and Econ 380
Units: 6
Prerequisite: Econ 300 and Econ 380

ECON 470: Labor Economics

A survey of labor economics that covers wage determination, minimum wages, employment and welfare policies, education, earnings inequality, market power, globalization, and worker migration. PREREQUISITES: ECON 300 and ECON 380
Units: 6
Prerequisite: ECON 300 and ECON 380

ECON 475: Markets and Market Design

Free markets are central in economics, but markets depend on human-made institutions and are sometimes created and organized by human-made rules. This course examines how human-made marketplaces, exchanges, and matching mechanisms facilitate mutually beneficial transactions, and how the new field of market design can improve outcomes. Applications include some labor markets, auctions, school choice, and college admissions. PREREQUISITES: ECON 300
Units: 6
Prerequisite: ECON 300

ECON 481: Advanced Econometrics & Modeling

The course explores advanced econometric topics in model specification, estimation, and prediction (e.g., two-stage least squares, limited dependent variables and logistic regression, nonparametric regressions, censored regressions, time-series analysis). Techniques are introduced through work related to the instructor’s areas of interest and expertise (e.g., labor, development, health, education). PREREQUISITES: ECON 380
Units: 6
Prerequisite: ECON 380

ECON 495: Advanced Topics in Economics

Each offering will employ analytical techniques developed in the intermediate-level courses (Economics 300, 320, and 380.) Substantive topics might include, but would not be limited to, economics of the arts, economics of sports, computational finance, international finance, public sector economics, economics of the environment, and studies of specific industries. May be repeated when the topic is different.

Units: 6
Prerequisite: ECON 300

ECON 500: Advanced Microeconomics

Advanced topics in microeconomics that prepare students for a first graduate course in microeconomics. PREREQUISITES: ECON 300; MATH 300 or 310 recommended
Units: 6
Prerequisite: ECON 300; MATH 300 or 310 recommended

ECON 590: Tutorial Studies in Economics

Advanced readings, discussions, and essays in economic problems of special interest to the student. PREREQUISITES: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.
Units: 1 TO 98
Prerequisite: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.

ECON 591: Directed Study in Economics

Directed study follows a syllabus set primarily by the instructor to meet the needs or interests of an individual student or small group of students. The main goal of directed study is knowledge or skill acquisition, not research or creative work. PREREQUISITES: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.
Units: 1 TO 98
Prerequisite: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.

ECON 595: Internship in Economics

Applied work with a private firm or public-sector agency in economics, arranged under the direction of an instructor in the department. In each case, the academic credit is based on related readings, reports, and presentations. PREREQUISITES: ECON 300, 320, or 380; To register student must complete the Student Initiated Course Form with consultation of supervising instructor
Units: 1 TO 98
Prerequisite: ECON 300, 320, or 380; To register student must complete the Student Initiated Course Form with consultation of supervising instructor

ECON 599: Independent Study in Economics

Advanced research on a topic of the student’s choice, organized in consultation with an instructor. Students considering an honors project should register for this course. PREREQUISITES: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.
Units: 1 TO 98
Prerequisite: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.

ECON 601: Senior Experience: Reading Option

Students focus on a monograph &/or readings appropriate for advanced undergraduates, engage in active discussion, and produce a paper that expands upon or responds to the readings. Successful completion satisfies the department’s Senior Experience requirement. PREREQUISITES: Senior standing; at least one advanced economics courses (400- or 500-level)
Units: 3
Prerequisite: Senior standing; at least one advanced economics courses (400- or 500-level)

ECON 602: Senior Experience: Research

Students will produce a well-researched paper that meets standards of profession. To register, students must submit to instructor a paper prepared in a 400-level economics course with a one-page proposal on how it will be extended, refined and polished in content and form. Instructors approval of this proposal is prerequisite for registration. PREREQUISITES: Senior standing; at least one advanced economics courses (400- 500-level)
Units: 3
Prerequisite: Senior standing; at least one advanced economics courses (400- 500-level)

ECON 690: Tutorial Studies in Economics

Advanced readings, discussions, and essays in economic problems of special interest to the student. PREREQUISITES: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.
Units: 1 TO 98
Prerequisite: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.

ECON 691: Directed Study in Economics

Directed study follows a syllabus set primarily by the instructor to meet the needs or interests of an individual student or small group of students. The main goal of directed study is knowledge or skill acquisition, not research or creative work. PREREQUISITES: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.
Units: 1 TO 98
Prerequisite: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.

ECON 695: Internship in Economics

Applied work with a private firm or public-sector agency in economics, arranged under the direction of an instructor in the department. In each case, the academic credit is based on related readings, reports, and presentations. PREREQUISITES: ECON 300, 320, or 380; To register student must complete the Student Initiated Course Form with consultation of supervising instructor
Units: 1 TO 98
Prerequisite: ECON 300, 320, or 380; To register student must complete the Student Initiated Course Form with consultation of supervising instructor

ECON 699: Independent Study in Economics

Advanced research on a topic of the student’s choice, organized in consultation with an instructor. Students considering an honors project should register for this course. PREREQUISITES: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.
Units: 1 TO 98
Prerequisite: To register student must complete the Student Initiated Course Form with consultation of supervising instructor.