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Economics (ECO) Course Descriptions

ECO 5003  Economic Theory and Policy
(3-0) 3 hours credit.
The opportunity for intensive study of micro- and macroeconomic concepts; the price system as it functions under competition, monopoly, and partial monopoly; national income measurement and determination; business cycles; money and banking; monetary policy; and fiscal policy and economic stabilization.

ECO 5023  Managerial Economics
(3-0) 3 hours credit. Prerequisites: ECO 5003 and MS 5003, or their equivalents.
Application of price theory to economic decisions of the firm. A problem-oriented approach emphasizing demand, production, and profit maximizing conditions, and their implications for output and pricing strategies under various market structures and types of organization.

ECO 6013  Microeconomic Theory
(3-0) 3 hours credit. Prerequisite: ECO 5003, an equivalent, or consent of instructor.
Introduction to advanced microeconomic theory and policy. Topics include theory of demand and consumer behavior, theory of production and cost analysis, market structures and pricing, and social welfare implications.

ECO 6033  Macroeconomic Issues
(3-0) 3 hours credit. Prerequisite: ECO 5003, an equivalent, or consent of instructor.
Introduction to advanced macroeconomic theory and policy. Topics include indicators of overall economic activity, various models of the economy and stabilization policies, economic growth, inflation and unemployment, models of consumption, investment, and trade and their impact on policy effectiveness. (Formerly ECO 5033. Credit cannot be earned for both ECO 6033 and ECO 5033.)

ECO 6103  Econometrics and Business Forecasting
(3-0) 3 hours credit. Prerequisites: ECO 5003 and ECO 6113, their equivalents, or consent of instructor.
Classical and advanced regression and forecasting methodologies, including analysis of simple and multiple regression models, hypothesis testing, smoothing procedures, autoregressive integrated moving average models for time series, forecast evaluation and combination. Application of computer-assisted regression analysis and forecasting methods to business and economic problems.

ECO 6113  Mathematical Economics
(3-0) 3 hours credit. Prerequisites: ECO 2013, ECO 2023, and MAT 1033, or their equivalents.
An examination of mathematical methods used in economic analysis. Topics include linear algebra, calculus and optimization techniques, and their applications in economic theory and decision making.

ECO 6203  Government and Business
(3-0) 3 hours credit. Prerequisite: ECO 5003, an equivalent, or consent of instructor.
Study of the role of government in the marketplace. Economic analysis of market structure and industry performance; motivations for and the effects of antitrust laws, economic regulations of private business, and public ownership of business.

ECO 6213  Public Sector Economics
(3-0) 3 hours credit. Prerequisite: ECO 5003, an equivalent, or consent of instructor.
Theoretical rationale for collective action; incidence, equity, and efficiency of taxation methods; externalities and property rights; analysis of public goods, regulation, and public choice. (Formerly ECO 5603. Credit cannot be earned for both ECO 6213 and ECO 5603.)

ECO 6323  International Trade and Finance
(3-0) 3 hours credit. Prerequisite: ECO 5003, an equivalent, or consent of instructor.
Classical and modern theories regarding trade patterns and commercial policies. Causes and consequences of international trade. International trade practices under varying commercial policy approaches. Balance of payments, foreign exchange markets, and exchange rate determination. International currency systems and policies. Regional monetary and economic integration. (Formerly ECO 5303. Credit cannot be earned for both ECO 6323 and ECO 5303.)

ECO 6403  Financial Economics
(3-0) 3 hours credit. Prerequisite: ECO 5003, an equivalent, or consent of instructor.
Foundations in modern financial economics. Applies economic analysis to financial issues. Analytical methods to be discussed include inter-temporal utility models and general equilibrium theory. Financial topics include mean-variance frontier, capital asset pricing model, and arbitrage pricing theory.

ECO 6523  Labor Economics
(3-0) 3 hours credit. Prerequisite: ECO 5003, an equivalent, or consent of instructor.
Survey of wage theory, wage determination and structure of labor markets, employment opportunities, economic security, leisure, technological change, and labor organizations and collective bargaining. (Formerly ECO 6313. Credit cannot be earned for both ECO 6523 and ECO 6313.)

ECO 6543  Healthcare Economics and Policy
(3-0) 3 hours credit. Prerequisite: ECO 5003, an equivalent, or consent of instructor.
The application of economic principles and modeling to the healthcare marketplace. Students will be given the opportunity to apply theoretical and empirical economic analysis to business and public policy issues in the healthcare industry. (Same as BOH 6543. Credit cannot be earned for both BOH 6543 and ECO 6543.)

ECO 6553  Urban and Regional Economics
(3-0) 3 hours credit. Prerequisite: ECO 5003, an equivalent, or consent of instructor.
Economic aspects of regions and their cities, including growth and development processes; data sources and analytical methods; and analysis of urban issues such as transportation, education, land use, pollution, and public sector service delivery.

ECO 6943  Economics Internship
3 hours credit. Prerequisites: Graduate standing, 15 semester credit hours of graduate work, and consent of instructor. Internship must be approved in advance by the Internship Coordinator and the student’s Graduate Advisor of Record. Cannot count as an economics elective toward an M.B.A. with a concentration in Business Economics.
Supervised full- or part-time off-campus work experience and training in economics. Individual conferences and written reports required.

ECO 6951-3  Independent Study
1 to 3 hours credit. Prerequisites: Graduate standing and permission in writing (form available) of the instructor and the student’s Graduate Advisor of Record.
Independent reading, research, discussion, and/or writing under the direction of a faculty member. For students needing specialized work not normally or not often available as part of the regular course offerings. May be repeated for credit, but not more than 6 hours, regardless of discipline, will apply to the degree.

ECO 6961  Comprehensive Examination
1 hour credit. Prerequisite: Approval of the appropriate Graduate Program Committee to take the Comprehensive Examination.
Independent study course for the purpose of taking the Comprehensive Examination. May be repeated as many times as approved by the Graduate Program Committee. Enrollment is required each term in which the Comprehensive Examination is taken if no other courses are being taken that term. The grade report for the course is either “CR” (satisfactory performance on the Comprehensive Examination) or “NC” (unsatisfactory performance on the Comprehensive Examination).

ECO 6971-3  Special Topics
(1-0, 2-0, 3-0) 1 to 3 hours credit. Prerequisite: Consent of instructor.
An organized course offering the opportunity for specialized study not normally or not often available as part of the regular course offerings. Special Topics courses may be repeated for credit when the topics vary, but not more than 6 hours, regardless of discipline, will apply to the degree.

ECO 6983  Master’s Thesis
3 hours credit. Prerequisites: Permission of the Graduate Advisor of Record and thesis director.
Thesis research and preparation. May be repeated for credit, but not more than 6 semester credit hours will apply to a Master’s degree. Credit will be awarded upon completion of the thesis. Enrollment is required each term in which the thesis is in progress.

ECO 7013  Seminar in Microeconomic Theory
(3-0) 3 hours credit. Prerequisite: ECO 3013 or ECO 3033, an equivalent, or consent of instructor.
Decision problems faced by the household and firm; theories of consumer choice; theory of production, cost, markets, and pricing decisions in deterministic and stochastic settings.

ECO 7023  Seminar in Macroeconomic Theory
(3-0) 3 hours credit. Prerequisite: ECO 3053, an equivalent, or consent of instructor.
Macroeconomic models and their implications for forecasting and policy; determination of the interest rate, price level, wage rate, employment, and output; dynamic models of consumption, investment, and expectations; introduction to monetary economics and growth models.

ECO 7041-3  Topics in Economic Research
(1-0, 2-0, 3-0) 1 to 3 hours credit. Prerequisite: Consent of instructor.
Seminar on special topics in a particular area of research. These topics may include financial economics, econometrics, international economics, industrial organization, public economics, resources and energy, and government and business. May be repeated for credit when topics vary.

ECO 7053  Quantitative Methods for Business and Economics
(3-0) 3 hours credit. Prerequisite: Consent of instructor.
A review of mathematical tools and their application in modeling and solving business and economic problems. Topics include linear algebra, linear systems and solution methods, special and multivariate functions, differential and integral calculus, constrained optimization and Lagrange method, and optimal control and dynamic programming.

ECO 7063  Econometrics
(3-0) 3 hours credit. Prerequisites: MAT 1033, MS 1023, STA 7013, and STA 7023, or equivalents, or consent of instructor.
A study of fundamental econometric techniques and applications. Topics include single equation models, least squares, and maximum likelihood estimation, properties of estimators, generalized least squares, general linear hypothesis, model selection techniques, simultaneous equations identification and estimation methods, distributed lag models, forecasting and time-series models.

ECO 7083  Time Series Analysis
(3-0) 3 hours credit. Prerequisite: Consent of instructor.
Univariate and multivariate time series analysis of economics and financial data, autoregressive integrated moving average (ARIMA), vector autoregression, unit roots, cointegration, error correction, and ARCH models. (Same as STA 7083. Credit cannot be earned for both ECO 7083 and STA 7083.)

ECO 7303  Applied Econometrics
(3-0) 3 hours credit. Prerequisite: Consent of instructor.
Advanced topics in econometrics and their applications. Topics include panel data, discrete and limited dependent variable, nonlinear and dynamic models.

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