Economics

Ward S. Curran Distinguished Professor of Economics Ramirez, Chair; George M. Ferris Professor of Corporation Finance and Investments Butos, Professor Grossberg, Shelby Cullom Davis Professor of American Business and Economic Enterprise Gunderson, Charles A. Dana Research and Maloney Family Distinguished Professor of Economics Setterfield, Professor Wen, G. Fox and Company Professor of Economics Zannoni; Associate Professors Clark, Hoag, and Stater; Assistant Professors Ahmed∙∙, Schulkind, Stillwagon, and Woolley; Senior Lecturer Schneider; Visiting Assistant Professors Helming, Levine, McMillen, Stoica, and Xhurxhi; Visiting Lecturers O’Connor and Skouloudis

The economics curriculum—ECON 101, ECON 301, and ECON 302 together constitute the theoretical core of the economics curriculum. As such, ECON 301 and ECON 302 are different from 300-level elective courses. Students who major in economics should complete ECON 301 and ECON 302 as soon as possible after they have completed ECON 101 to ensure that they develop a sufficiently strong appreciation of the economic theory that they will be expected to apply in 300-level elective courses. Students are required to complete ECON 301, ECON 302, and ECON 331 at Trinity College. The Writing Intensive Part II requirement is fulfilled by the senior seminar (ECON 331) or the senior thesis (ECON 498-499).

It is recommended that students majoring in economics select cognate courses, in consultation with their adviser, in anthropology, history, philosophy, political science, public policy, and sociology. ECON 312, ECON 318, and ECON 328 are of particular value in integrating economic theory and economic applications.

Many 300-level courses have prerequisites other than ECON 101 and students are advised to consult the course descriptions below or the course listings in the Schedule of Classes for course prerequisites. Beyond ECON 101, ECON 301, and ECON 302, courses are offered in the following areas in the department:

The economics major—The department provides three routes to a degree in economics: the B.A. (bachelor of arts); the B.S. (bachelor of science), which is more quantitative; and the interdisciplinary computing with economics major. All three are shown schematically in the side-by-side comparison below. Students who think they may be interested in graduate work in economics are advised to seek the B.S. degree and supplement it with additional mathematics courses as explained below under the heading “Students considering pursuing graduate studies in economics.”

Important: Required core economics courses (ECON 101, ECON 301, and ECON 302) for the B.A., B.S., and interdisciplinary computing with economics majors may be retaken only once. If any of these courses is retaken, a grade of B- or better (B or better in ECON 101 if the course was originally taken during or since fall 2013) is required in the retaken course for completion of the major.

The bachelor of arts degree

Requirements for the completion of the B.A. degree are:

The bachelor of science degree

Requirements for the completion of the B.S. degree are:

The interdisciplinary computing with economics major

This major is designed for those students who wish to combine an interest in computers with study in economics. In addition to the course requirements in mathematics and computer science, the requirements are:

Bachelor of arts
in economics

Bachelor of science
in economics

Interdisciplinary
computing major




Required core
economics courses
(A grade of C+ or better [B- or better in ECON 101 if taken during or since fall 2013] is required in each of these courses)a

ECON 101
ECON 301
ECON 302

ECON 101
ECON 301
ECON 302

ECON 101
ECON 301
ECON 302

Required quantitative
courses (A grade of C+ or better is required in ECON 218 or MATH 207 if taken during or since fall 2013)

ECON 218
(formerly ECON 109)
or MATH 207

ECON 218
(formerly ECON 109)
or MATH 207

ECON 218
(formerly ECON 109)
or MATH 207

MATH 125 and 126
or
MATH 131b

Electives

One 200-level
economics course

One 200-level
economics course

One 200-level
economics course

One any-level
economics course

ECON 312 and 318c
or
ECON 318 and 328c

ECON 318

Four 300-level economics
courses and ECON 331
or
Three 300-level economics
courses and
ECON 498 - 499d

Four 300-level economics
courses and ECON 331
or
Three 300-level economics
courses and
ECON 498 - 499d

One 300-level economics
course and ECON 331

Total Number
of Courses

11

13-14

8e

a Required core economics courses may be retaken only once. If any of these courses is retaken, a grade of B- or better (B or better in ECON 101 if the course was originally taken during or since fall 2013) is required in the retaken course for completion of the major.

b or any course with a prerequisite of MATH 131

c or ECON 312 and any course with ECON 312 as a prerequisite, or ECON 318 and any course with ECON 318 as a prerequisite.

d Students who complete ECON 498-499 must also complete the 0.5 credit Senior Thesis Seminar (ECON 402-403).

e In addition to requirements in Computer Science and Mathematics.

Admission requirements and the economics major— Students who intend to declare a major in economics must do so no later than the Friday after spring break of their sophomore year. This deadline applies to students declaring economics as their first or second major. At or before this time, students who:

will be admitted to the major upon submission of the declaration of major form to Professor Rasha Ahmed during fall 2015 or Professor Joshua Stillwagon during spring 2016. At that time, an adviser in the department will be assigned.

Study away—A maximum of three credits taken away from Trinity may be earned for major credit with a maximum of two at the 300 level. Students are required to complete ECON 301, ECON 302, and ECON 331 at Trinity College. All students who wish to receive credit toward the major for courses taken away from Trinity must complete an application for transfer credit form with the Office of Study Away and have the course(s) approved for credit by their faculty adviser and by Professor Mark Stater (for fall 2015, Professor Christopher Hoag) before going abroad. In addition to having courses preapproved, students must earn grades of B+ or better to receive credit toward the major at the 300 level, and C+ or better to receive credit toward the major at the 200 level. Permission to receive credit toward the major for courses in other departments or work in special programs at Trinity must be approved in advance by the Economics Department chair.

Students considering pursuing graduate studies in economics—Students who are considering pursuing graduate study in economics should be aware of the emphasis that graduate programs in economics place on proficiency in mathematics. Graduate programs in economics place considerable weight on the applicant’s score on the quantitative section of the Graduate Record Exam (GRE), as well as on the student’s performance in undergraduate mathematics courses and quantitatively oriented courses in economics. Students considering pursuing graduate study in economics are especially urged to discuss their interests with their advisers at the earliest possible date.

Accordingly, economics majors thinking about pursuing graduate study in economics are strongly advised to complement their economics course work with additional course work in the Mathematics Department. At a minimum, course work in mathematics should include: MATH 131. Calculus I and MATH 132. Calculus II and MATH 228. Linear Algebra. Beyond these, additional recommended course work in mathematics would include: MATH 231. Calculus III, MATH 234. Differential Equations, MATH 305. Probability and Math 306. Mathematical Statistics, and MATH 331. Analysis I. Students are strongly urged to take ECON 312. Mathematical Economics and ECON 318. Basic Econometrics.

Honors—To graduate with honors in economics a student must have (1) completed ECON 301 and ECON 302 with an average grade of B+ or better, with neither grade lower than a B; (2) an average grade of B+ or better in all economics courses taken at Trinity, with a grade of A- or better in at least half of those courses; (3) completed ECON 498-499, a senior thesis, with a grade of A- or better and ECON 402-403. In exceptional cases, a student who has completed ECON 498-499 but who has not met all other criteria for honors in economics may be awarded honors by a vote of the Economics Department.

Fall Term

101. Basic Economic Principles— An introduction to modern economic analysis. A study of the principles of production and exchange, the distribution of income, money and banking, and national income analysis. Required of all majors in economics and recommended for all students planning business, legal, or public service careers.

Note: Effective fall 2013 a grade of B- or better is required in order to major in Economics. (If Econ 101 is retaken a grade of B or better is required if the course was originally taken during or after fall 2013.) Students who took Econ 101 prior to fall 2103 are reminded that a grade of C+ or better is required in Economics 101 (or B- if the course is retaken) in order to major in economics. Concurrent enrollment in Economics 101 and either Economics 301 or Economics 302 is not allowed. (SOC) (Enrollment limited) –Butos, Clark, Hoag, Skouloudis, Szembrot

103. Fundamentals of Accounting— A review of accounting concepts and procedures, with particular emphasis on the reasoning behind methods of measuring and recording such items as depreciation and revenues. The implications of accounting theory and practice for the measurement of income and financial positions are investigated. Senior economics and coordinate majors have first choice for enrollment, then junior economics and coordinate majors, then sophomores. Senior and junior non-majors need permission of instructor. (SOC) (Enrollment limited) –O’Connor

[109. Introduction to Statistics for Economics]— This course is designed to familiarize students with common statistical methods used in economics. Topics will include the presentation of data, descriptive statistics, probability theory, discrete and continuous distributions, sampling distributions, estimation, and hypothesis testing. This course may be used as a substitute for Mathematics 207 Statistical Data Analysis. Students may not earn Economics major credit for both Mathematics 207 and Economics 218 (formerly Economics 109). This course and Mathematics 207 serve as equivalent prerequisites for Economics 318L Basic Econometrics. Prerequisite: C+ or better in Economics 101 or permission of instructor. (NUM) (Enrollment limited)

[109L. Workshop for Statistical Methods in Economics]— This workshop provides supplementary instruction for students enrolled in ECON 109L Statistical Methods in Economics. Students must be enrolled in ECON 109 (lecture) in order to enroll in the workshop. (0.25 course credit) (Enrollment limited)

202. Contemporary Macroeconomic Issues— Is all well with modern macroeconomics? Recent events have raised many questions for macroeconomists about the way the economy works and the design of macroeconomic policy. This course examines a variety of contemporary macroeconomic issues from competing theoretical perspectives. Topics include: spending versus thrift and macroeconomic performance; the role of fiscal policy in a recession; the short and long term consequences of bailouts; and the role of money and finance in the economy. Prerequisite: C- or better in Economics 101. (Enrollment limited) –Stoica

203. A History of Macroeconomic Crises— This course provides an historical perspective on financial crises, including the most recent global crisis, Japan and Sweden’s post-real estate bubble experiences in the 1990’s, The Asian currency crises, the S&L crisis in the 1980’s, the oil crisis of the 1970’s, the Great Depression, and earlier episodes. In particular, we will focus on commonalities between the events in both their causes, and the nature of the aftermath, including issues of debt and asset prices, and the various policy responses. Supplemental reading materials will include Kindleberger’s “Manias, Panics, and Crashes: A History of Financial Crises”, Reinhart and Rogoff’s “This Time is Different: Eight Centuries of Financial Folly”, Shiller’s “Irrational Exuberance”, and Koo’s “The Holy Grail of Macroeconomics: Lessons from Japan’s Great Recession.” Prerequisite: C- or better in Economics 101. (SOC) (Enrollment limited) –Stillwagon

207. Alternative Economic Systems— A comparative study of the major types of economic systems, such as markets and centrally planned economies. Also includes some case studies of smaller, stereotypical models of economic organization along with the effects of varying degrees of economic freedom. Prerequisite: C- or better in Economics 101. (GLB5) (Enrollment limited) –Stringham

209. Urban Economics— Economic analysis of urban areas in the regional setting; the study of location theory, land use and housing markets, and of current public policy issues pertaining to urban problems including urban poverty, the economics of race and metropolitan areas, urban transportation, and local public finance. The resource allocation process will be emphasized. Prerequisite: C- or better in Economics 101. (SOC) (Enrollment limited) –Ahmed

210. Contemporary Micro Issues— This course will study the contemporary micro issues using the tools of micro economic analysis. The course will examine important economic and social policy issues in the U.S., the role of government in designing economic policy and its impact on individuals. Topics include: investment in human capital; education, earnings and the job market discrimination; income inequality, poverty and social security; health and risky behaviors, heath care provision and the impact of insurance; environment and the problem of pollution. Prerequisite: C- or better in Economics 101. (Enrollment limited) –Xhurxhi

217. Economics of Health and Health Care— Analysis of the structure of health care markets using economic principles Evaluation of current health care policies and their effects on cost, access and quality. Topics covered include the production of and demand for health and medical care; information asymmetries between patients, doctors, and payers; health insurance coverage; the effects of managed care (including HMOs) on competition, efficiency, and quality; training and practice of physicians; hospitals; prescription drug pricing; government regulations; Medicare and Medicaid; health care reform. Prerequisite: C- or better in Economics 101. (SOC) (Enrollment limited) –Helming

218. Introduction to Statistics for Economics— This course is designed to familiarize students with common statistical methods used in economics. Topics will include the presentation of data, descriptive statistics, probability theory, discrete and continuous distributions, sampling distributions, estimation, and hypothesis testing. This course may be used as a substitute for Mathematics 207 Statistical Data Analysis. Students may not earn Economics major credit for both Mathematics 207 and Economics 218 (formerly Economics 109). This course and Mathematics 207 serve as equivalent prerequisites for Economics 318L Basic Econometrics. Prerequisite: C+ or better in Economics 101 or permission of instructor. (NUM) (Enrollment limited) –Grossberg

[227L. Economic Forecasting]— The goal of this course is to equip students with the necessary modeling techniques to forecast economic time series. Topics such as basic linear regression, interpretation of coefficients and variables, trend and seasonality, model building and specification, and hypothesis testing will be covered, followed by an in-depth examination of model selection, in-sample and out-of-sample evaluation, combination forecasts, and various modern forecasting techniques. Prerequisite: C- or better in Economics 101 and a C- or better in Mathematics 207 or Economics 218 (formerly Economics 109). (SOC) (Enrollment limited)

231. Latin American and Caribbean Economic Development— This course examines and evaluates the major theories and leading issues in the study of economic growth and development in Latin America and the Caribbean during the 20th century. It focuses on the region’s economic and historical links to industrialized nations as a key element in understanding the nature and direction of its economic growth and development. Topics include: theories of development; rural development and migration; state-led industrialization and structural transformation under import-substitution industrialization (ISI); debt, stabilization, and adjustment policies; neoliberal policies such as privatization and the deregulation of financial and labor markets; and trade liberalization, particularly the proliferation of preferential trading arrangements such as the North American Free Trade Agreement (NAFTA), the Southern Cone Common Market (MERCOSUR), the Caribbean Common Market (CARICOM), the Lome Convention, and the Central American Common Market (CACM). Prerequisite: C- or better in Economics 101. (GLB5) (Enrollment limited) –Ramirez

299. Independent Study— Submission of the special registration form, available in the Registrar’s Office, and the approval of the instructor and chairperson are required for enrollment. Prerequisite: C- or better in Economics 101. (1 - 2 course credits) –Staff

301. Microeconomic Theory— A study of the determination of the prices of goods and productive factors in a market economy and the role of prices in the allocation of resources. Required of all majors in economics. Note: Students are reminded that a grade of C+ or better is required in Economics 301 (or B- if the course is retaken) in order to major in economics. Prerequisite: C+ or better in Economics 101 (B- if taken starting F13), and C- or better in one 200 level economics course or sophomore or higher class standing. Concurrent enrollment in Economics 301 and either Economics 101 or 302 is not allowed. (SOC) (Enrollment limited) –Ahmed

302. Macroeconomic Theory— An analysis of aggregate income, output, and employment, which includes the following topics: national economic accounts; theories of consumption; investment and money; Keynesian and Classical models; the monetary-fiscal debate; inflation, unemployment and growth. Required of all majors in economics. Note: Students are reminded that a grade of C+ or better is required in Economics 302 (or B- if the course is retaken) in order to major in economics. Prerequisite: C+ or better in Economics 101 (B- if taken starting F13), and C- or better in one 200 level economics course or sophomore or higher class standing. Concurrent enrollment in Economics 302 and either Economics 101 or 301 is not allowed. (SOC) (Enrollment limited) –Butos, Woolley

303. Labor Economics— An examination of a number of important issues in modern labor economics. Topics include (but are not limited to): the determinants of labor supply, with special emphasis on the growth of women’s labor supply during the last century; the demand for labor and the determination of wages; discrimination in labor markets. Prerequisite: C+ or better in Economics 301. (SOC) (Enrollment limited) –Xhurxhi

304. The Causes of and Best Responses to Recessions— This course will examine the characteristics of past US and international recessions including common precipitating factors (including debt, trade deficits, and large run-ups in asset prices) and the effect on unemployment, production, investment, savings, and inflation. The inquiry will focus heavily on data. Monetary and fiscal policy responses to recessions and their effectiveness will be a core issue. Theoretical concepts such as the Phillips and Beveridge curves, and the natural rate hypothesis will be applied. The course will close with an overview of various schools of thought on the nature of the business cycle, and the optimal policy reaction including: Monetarist, Keynesian, Austrian, Minskyian/Post-Keynesian, and real business cycle theory, the structural slumps work of Phelps, and Koo’s balance sheet recession view. Prerequisite: C+ or better in Economics 302. (SOC) (Enrollment limited) –Stillwagon

[306. Public Finance: Economics of the Public Sector]— An examination of the role of tax and public expenditure policies as they influence the allocation and distribution of resources, and on the role of market imperfections as rationales for government policies. Emphasis is on the effects of taxation and public spending on consumer and producer choices. Prerequisite: C+ or better in Economics 301. (SOC) (Enrollment limited)

309. Corporate Finance— Valuation, the development of the modern theory of finance; efficient market hypothesis; portfolio theory; capital budgeting; cost of capital; corporate securities; the securities markets; and other selected topics in finance. Prerequisite: C+ or better in either Economics 301 or Economics 302. Economics 218 (formerly 109) or Mathematics 207 are strongly recommended and Economics 103 is recommended. (SOC) (Enrollment limited) –Hoag

312. Mathematical Economics— This course is designed to introduce students to the application of mathematical concepts and techniques to economic problems and economic theory. Prerequisite: C+ or better in Economics 301 and 302, and a C- or better in Mathematics 126 or Mathematics 131. (SOC) (Enrollment limited) –McMillen

315. Theories of International Trade— An examination of the major theories of international trade, beginning with the classical and neoclassical models of international trade and concluding with a survey of the various alternative models of international trade developed over the past three decades. An analysis of commercial policy, preferential trading agreements and other contemporary policy issues in the international economy will be included. Prerequisite: C+ or better in Economics 301. (GLB5) (Enrollment limited) –Clark

317. Development Economics— Various hypotheses on the persistence of underdevelopment observed in most developing economies will be examined. Then the successes of some developing economies in their modernization will be discussed. Attention will also be given to such important issues as industrialization, demographic change and urbanization, growth in income and its distribution, international trade and finance, development strategies, the government role in promoting development, and the impact of foreign aid. Prerequisite: C+ or better in Economics 302 and a C- or better in one 200-level Economics course or other Social Science course that deals with developing nations. Economics 301 is strongly recommended. (GLB5) (Enrollment limited) –Wen

318. Basic Econometrics with Lab— The formulation and estimation of models; topics include a review of basic concepts and results of statistical inference, single equation regression model, functional forms, problems of estimation, and simultaneous equation models. Students must also enroll in the required lab for this course. This course has a community learning component. Prerequisite: C+ or better in Economics 101 and a C- or better in Economics 218 (formerly 109) or Mathematics 207 or Mathematics 306. (1.25 course credits) (NUM) (Enrollment limited) –Zannoni

[318. Basic Econometrics]— The formulation and estimation of models; topics include a review of basic concepts and results of statistical inference, single equation regression model, functional forms, problems of estimation, and simultaneous equation models. The computer will be used but no experience is necessary. This course has a community learning component. Prerequisite: C+ or better in Economics 101 and a C- or better in Economics 218 (formerly 109) or Mathematics 207 or Mathematics 306. (1.25 course credits) (NUM) (Enrollment limited)

[319. The Modern Macroeconomy]— This course will examine the current state of the macroeconomy in the United States and the rest of the world. Causes and consequences of recent major events (including the great moderation, the financial crisis, and the European sovereign debt crisis) will be discussed. The course will also examine new features of the economy, such as jobless recoveries and stagnation in industrialized countries, and analyze policy responses to these developments, including quantitative easing by central banks and the Troubled Asset Relief Program. Both theoretical and empirical aspects of recent macroeconomic developments will be explored. Prerequisite: C+ or better in Economics 302. (Enrollment limited)

[321. American Economic History]— A survey of the growth of the American economy from pre-Columbian times to the present. Special attention will be given to the issues of economic growth, industrial development, the economy of the antebellum South, transportation and commerce, the rise of cities, and the impact of major wars on the economy. Prerequisite: C or better in Economics 101. (SOC) (Enrollment limited)

323. Theories of Economic Growth— This course is concerned with the long-run economic growth of modern economies. Topics includes the measurement of real living standards, the Solow model of capital accumulation, models of technological change and innovation, the role of trade in fostering growth, the effect of population growth on economic growth, the influence of economic growth on natural resources, and questions about why some countries are affluent while others remain poor. Prerequisite: C+ or better in Economics 301 and 302. (SOC) (Enrollment limited) –Stoica

[324. Financial Crisis]— This course will examine historical financial crises from around the world, using standard macroeconomic theories. We will then use this knowledge of past crises to analyze the Great recession (December 2007 June 2009), its causes, and the measures taken to encourage recovery. This will include analysis of monetary and fiscal responses to the crisis, as well as the pre-crisis policy environment. Topics covered will include: the IS/MP and aggregate supply/aggregate demand models, currency crises, bank runs, liquidity and leverage, sub-prime lending, Quantitative Easing (QE), fiscal stimulus, and the Troubled Asset Relief Program (TARP). Prerequisite: C+ or better in Economics 302. (Enrollment limited)

[326. Economics of Strategies in Firms and Markets]— This course is organized around the topics of economics of strategies between and within firms. The course teaches students various applications of game theory against the background of firm behavior. The three major themes of the course are (1) basic principles of game theory; (2) applications of game theory within firms; and (3) empirical facts of organizations. The major topics include monitoring and incentivizing employees, trust and cooperation within groups, patent races and patent adoption, and communications within and across organizations. Coursework will include case studies, strategic interactions in class, and a final group project and presentations. Prerequisite: C+ or better in Economics 301. (SOC) (Enrollment limited)

327. Behavioral Game Theory— Behavioral game theory is the study of strategic interaction, built on realistic assumptions about people’s capacity for strategic thinking. The course will begin with an overview of standard game theory; for this reason, no prior knowledge of game theory is necessary. Motivated by field and experimental evidence, students will study alternatives to Nash equilibrium, including cognitive hierarchy models, quantal response equilibrium, and cursed equilibrium. We will also explore the role of social preferences in explaining behavior in strategic environments. Additionally, we will apply psychological biases that are found in individual decision-making, such as framing effects and overconfidence, to strategic situations. We will use these ideas in a variety of economic applications, including auctions and school choice. Prerequisite: C+ or better in Economics 301. (Enrollment limited) –Szembrot

331. Institutional Innovation and Economic Development: The Case of Modern China— Students will have opportunities in this course to strengthen their skill and sensitivity in applying economic analysis and research methods to contemporary economic policy issues through this case study. We choose China as the subject, both because of its importance in the world economy and the theoretical challenge it poses through its unorthodox path to reform its economic system. Focus will be on the evaluation of the gradualist approach versus the “big bang” approach, externality of the state sector and the emerging private sector, the partial privatization of its farming sector, the puzzle of the township and village enterprises and its hidden problems such as economic development and democracy and urbanization in the presence of population pressure. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited) –Wen

331. Central Banking and Monetary Regimes— This seminar provides a critical analysis of the rationale, behavior, and effectiveness of central banking and alternative monetary institutions. It will emphasize the Federal Reserve System and alternative monetary arrangements from historical and analytical standpoints, treating in detail the formulation and execution of monetary policy in the context of both domestic and international constraints. Attention also is given to the European Monetary Union and current issues in international monetary relations. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited) –Butos

[331. Topics in Urban Economics]— Students will explore selected topics in Urban Economics such as crime, education, social contagion, housing, etc. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited)

[331. Issues in International Trade and Finance]— This seminar examines important and recent developments in international economics. Topics include strategic trade policy and market structure; the economics of trading blocs such as the EU and NAFTA; the economic consequences of continued U.S. external deficits; globalization and inequity; exchange rates, interest rates, and volatility; speculative capital flows and exchange rate policies; and financial crises and the prospects for the EMU. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited)

331. Experimental Economics— This seminar will introduce students to applications of experiments in economic research, focusing on many well-developed areas of laboratory-tested experiments as well as experimental methodology. We will review, discuss, and analyze some of the most influential papers written in the field of Experimental Economics and conduct classroom experiments. We will examine the motivation behind experiments, their usefulness and their limitations. This course will include topics such as experiments involving individual decision making, game theory, bargaining, trust and public choice. Finally, students will be required to develop and conduct their own experiment-based research projects. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited) –Schneider

334. Law and Economics— Legal rules of property, contract and tort law create implicit prices that incentivize individuals behavior and motivate the economic approach to the study of law. This course brings together the two disciplines of economics and law to examine fundamental rules governing an exchange economy. Topics to be covered include property law, tort law (non-criminal harm or injuries), contract law and crime. Please note, this is not a course in law but in economic analysis of the law. Prerequisite: C+ or better in Economics 301. (SOC) (Enrollment limited) –Helming

399. Independent Study— Submission of the special registration form, available in the Registrar’s Office, and the approval of the instructor and chairperson are required for enrollment. Prerequisite: C+ or better in Economics 301 or Economics 302, as appropriate. (1 - 2 course credits) –Staff

401. Independent Study in Quantitative Applications— Submission of the special registration form, available in the Registrar’s Office, and the approval of the instructor are required for enrollment. Prerequisite: C- or better in Economics 312 or Economics 318 (0.5 - 1 course credit) –Staff

402. Senior Thesis Seminar Part I— This seminar will address the research and thesis writing process and will include workshops on writing, data and library resources. In addition, students will be asked to present preliminary work for discussion to seminar participants, and to participate in three sets of presentations to the Department during the academic year. (0.5 course credit) (Enrollment limited) –Stillwagon

466. Teaching Assistantship— Submission of the special registration form, available in the Registrar’s Office, and the approval of the instructor and chairperson are required for enrollment. Cannot be used for major credit. (0.5 - 1 course credit) –Staff

498. Senior Thesis Part 1— Written report and formal presentation of a research project. Open to all senior majors and required of all students who wish to earn honors in economics. A student who intends to write a thesis must locate a thesis adviser, and must submit a preliminary proposal to the thesis adviser by the last day of classes in the spring semester of the junior year. A final proposal must be submitted to the thesis adviser by final registration in the fall semester of the senior year. Submission date of the thesis is the third Thursday following spring recess. Seniors who undertake Economics 498-99 will be excused from Economics 331. Studies in Social Policies and Economic Research. In addition to the final proposal, submission of the special registration form available in the Registrar’s Office and the approval of the instructor is required for each semester of this year-long thesis. (2 course credits are considered pending in the first semester; 2 course credits will be awarded for completion in the second semester.) Prerequisite: C+ or better in Economics 301 and 302. (2 course credits) (WEB) –Staff

Graduate Courses

940. Independent Study— Independent studies on selected topics are available by arrangement with the instructor and written approval of the graduate director and department chair. Contact the Office of Graduate Studies for the special approval form. (1 - 2 course credits) –Staff

953. Research Project— The graduate director, the supervisor of the project, and the department chair must approve special research project topics. Conference hours are available by appointment. Contact the Office of Graduate Studies for the special approval form. –Staff

Courses Originating in Other Departments

Mathematics 107. Elements of Statistics— View course description in department listing on p. 670. Prerequisite: A satisfactory score on the Mathematics Placement Examination or a C- or better in Quantitative Literacy 101. Students who qualify for Mathematics 131 or 207 will not be eligible to enroll in this course. –Ray, Samuel

[Mathematics 125. Functions and Limits]— View course description in department listing on p. 671. Prerequisite: A satisfactory score on the Mathematics Placement Examination or a C- or better in Quantitative Literacy 101. Students who qualify for Mathematics 131 or 207 will not be eligible to enroll in this course.

Mathematics 131. Calculus I— View course description in department listing on p. 671. Prerequiste: A satisfactory score on the Mathematics Placement Examination. –Adelstein, Emerick, Nu’Man, Pellico, Ray, Russo

Mathematics 207. Statistical Data Analysis— View course description in department listing on p. 672. Prerequisite: A suitable score on the Mathematics Placement Examination or a grade of C- or better in Mathematics 107.. –Goldwyn, Skardal

Spring Term

101. Basic Economic Principles— An introduction to modern economic analysis. A study of the principles of production and exchange, the distribution of income, money and banking, and national income analysis. Required of all majors in economics and recommended for all students planning business, legal, or public service careers.

Note: Effective fall 2013 a grade of B- or better is required in order to major in Economics. (If Econ 101 is retaken a grade of B or better is required if the course was originally taken during or after fall 2013.) Students who took Econ 101 prior to fall 2103 are reminded that a grade of C+ or better is required in Economics 101 (or B- if the course is retaken) in order to major in economics. Concurrent enrollment in Economics 101 and either Economics 301 or Economics 302 is not allowed. (SOC) (Enrollment limited) –Clark, Schneider, Skouloudis

103. Fundamentals of Accounting— A review of accounting concepts and procedures, with particular emphasis on the reasoning behind methods of measuring and recording such items as depreciation and revenues. The implications of accounting theory and practice for the measurement of income and financial positions are investigated. Senior economics and coordinate majors have first choice for enrollment, then junior economics and coordinate majors, then sophomores. Senior and junior non-majors need permission of instructor. (SOC) (Enrollment limited) –O’Connor

[109. Introduction to Statistics for Economics]— This course is designed to familiarize students with common statistical methods used in economics. Topics will include the presentation of data, descriptive statistics, probability theory, discrete and continuous distributions, sampling distributions, estimation, and hypothesis testing. This course may be used as a substitute for Mathematics 207 Statistical Data Analysis. Students may not earn Economics major credit for both Mathematics 207 and Economics 218 (formerly Economics 109). This course and Mathematics 207 serve as equivalent prerequisites for Economics 318L Basic Econometrics. Prerequisite: C+ or better in Economics 101 or permission of instructor. (NUM) (Enrollment limited)

[109L. Workshop for Statistical Methods in Economics]— This workshop provides supplementary instruction for students enrolled in ECON 109L Statistical Methods in Economics. Students must be enrolled in ECON 109 (lecture) in order to enroll in the workshop. (0.25 course credit) (Enrollment limited)

202. Contemporary Macroeconomic Issues— Is all well with modern macroeconomics? Recent events have raised many questions for macroeconomists about the way the economy works and the design of macroeconomic policy. This course examines a variety of contemporary macroeconomic issues from competing theoretical perspectives. Topics include: spending versus thrift and macroeconomic performance; the role of fiscal policy in a recession; the short and long term consequences of bailouts; and the role of money and finance in the economy. Prerequisite: C- or better in Economics 101. (Enrollment limited) –Stoica

[203. A History of Macroeconomic Crises]— This course provides an historical perspective on financial crises, including the most recent global crisis, Japan and Sweden’s post-real estate bubble experiences in the 1990’s, The Asian currency crises, the S&L crisis in the 1980’s, the oil crisis of the 1970’s, the Great Depression, and earlier episodes. In particular, we will focus on commonalities between the events in both their causes, and the nature of the aftermath, including issues of debt and asset prices, and the various policy responses. Supplemental reading materials will include Kindleberger’s “Manias, Panics, and Crashes: A History of Financial Crises”, Reinhart and Rogoff’s “This Time is Different: Eight Centuries of Financial Folly”, Shiller’s “Irrational Exuberance”, and Koo’s “The Holy Grail of Macroeconomics: Lessons from Japan’s Great Recession.” Prerequisite: C- or better in Economics 101. (SOC) (Enrollment limited)

210. Contemporary Micro Issues— This course will study the contemporary micro issues using the tools of micro economic analysis. The course will examine important economic and social policy issues in the U.S., the role of government in designing economic policy and its impact on individuals. Topics include: investment in human capital; education, earnings and the job market discrimination; income inequality, poverty and social security; health and risky behaviors, heath care provision and the impact of insurance; environment and the problem of pollution. Prerequisite: C- or better in Economics 101. (Enrollment limited) –Xhurxhi

214. Business and Entrepreneurial History— The evolution of business structures and practices, primarily in the American experience. Changes in such aspects of management, finance, marketing, and information are considered. Special attention is given to the role of entrepreneurs and conditions which may have influenced their creative efforts. Both an analytical approach and case studies are employed. Prerequisite: C- or better in Economics 101. (SOC) (Enrollment limited) –Gunderson

[217. Economics of Health and Health Care]— This course is designed to provide an overview of key issues in the economics of health and health care using principles of economics, with an emphasis throughout on real-world problems. Topics to be studied will include: health care market structures; determinants of the demand for and supply of health care; the interrelationships between insurance, supply, demand, and technological innovation; proposed health policy reforms in insurance markets, medical malpractice, and other areas; and the analysis of public policies on unhealthy consumer behaviors (smoking, drinking, drugs). Prerequisite: C- or better in Economics 101. (SOC) (Enrollment limited)

218. Introduction to Statistics for Economics— This course is designed to familiarize students with common statistical methods used in economics. Topics will include the presentation of data, descriptive statistics, probability theory, discrete and continuous distributions, sampling distributions, estimation, and hypothesis testing. This course may be used as a substitute for Mathematics 207 Statistical Data Analysis. Students may not earn Economics major credit for both Mathematics 207 and Economics 218 (formerly Economics 109). This course and Mathematics 207 serve as equivalent prerequisites for Economics 318L Basic Econometrics. Prerequisite: C+ or better in Economics 101 or permission of instructor. (NUM) (Enrollment limited) –Grossberg

227. Economic Forecasting— The goal of this course is to equip students with the necessary modeling techniques to forecast economic time series. Topics such as basic linear regression, interpretation of coefficients and variables, trend and seasonality, model building and specification, and hypothesis testing will be covered, followed by an in-depth examination of model selection, in-sample and out-of-sample evaluation, combination forecasts, and various modern forecasting techniques. Prerequisite: C- or better in Economics 101 and a C- or better in Mathematics 207 or Economics 218 (formerly Economics 109). (SOC) (Enrollment limited) –Stoica

243. Financial Markets Institutions— The purpose of the course is to provide a basic understanding of the role of financial institutions (intermediaries) and financial markets in facilitating the flow of funds between those who supply funds and those who demand funds. Topics include the role of banks, other financial institutions, and financial markets in this process. Special attention is also given to the European Monetary Union and other aspects of the international financial system. Prerequisite: C- or better in Economics 101. (SOC) (Enrollment limited) –Hoag

[247. Introduction to Policy Analysis]— This course will introduce students to the basic ingredients of policy analysis rooted in the microeconomics of externalities (social, economic, and political), public goods, common property, information failure, absence of competition, and distributional concern. This course is not open to students who have previously earned credit for Economics 306 or Economics 311. Prerequisite: C- or better in Economics 101. (SOC) (Enrollment limited)

[299. Independent Study]— Submission of the special registration form, available in the Registrar’s Office, and the approval of the instructor and chairperson are required for enrollment. Prerequisite: C- or better in Economics 101. (1 - 2 course credits)

301. Microeconomic Theory— A study of the determination of the prices of goods and productive factors in a market economy and the role of prices in the allocation of resources. Required of all majors in economics. Note: Students are reminded that a grade of C+ or better is required in Economics 301 (or B- if the course is retaken) in order to major in economics. Prerequisite: C+ or better in Economics 101 (B- if taken starting F13), and C- or better in one 200 level economics course or sophomore or higher class standing. Concurrent enrollment in Economics 301 and either Economics 101 or 302 is not allowed. (SOC) (Enrollment limited) –Grossberg, Szembrot

302. Macroeconomic Theory— An analysis of aggregate income, output, and employment, which includes the following topics: national economic accounts; theories of consumption; investment and money; Keynesian and Classical models; the monetary-fiscal debate; inflation, unemployment and growth. Required of all majors in economics. Note: Students are reminded that a grade of C+ or better is required in Economics 302 (or B- if the course is retaken) in order to major in economics. Prerequisite: C+ or better in Economics 101 (B- if taken starting F13), and C- or better in one 200 level economics course or sophomore or higher class standing. Concurrent enrollment in Economics 302 and either Economics 101 or 301 is not allowed. (SOC) (Enrollment limited) –Stillwagon

[304. The Causes of and Best Responses to Recessions]— This course will examine the characteristics of past US and international recessions including common precipitating factors (including debt, trade deficits, and large run-ups in asset prices) and the effect on unemployment, production, investment, savings, and inflation. The inquiry will focus heavily on data. Monetary and fiscal policy responses to recessions and their effectiveness will be a core issue. Theoretical concepts such as the Phillips and Beveridge curves, and the natural rate hypothesis will be applied. The course will close with an overview of various schools of thought on the nature of the business cycle, and the optimal policy reaction including: Monetarist, Keynesian, Austrian, Minskyian/Post-Keynesian, and real business cycle theory, the structural slumps work of Phelps, and Koo’s balance sheet recession view. Prerequisite: C+ or better in Economics 302. (SOC) (Enrollment limited)

306. Public Finance: Economics of the Public Sector— An examination of the role of tax and public expenditure policies as they influence the allocation and distribution of resources, and on the role of market imperfections as rationales for government policies. Emphasis is on the effects of taxation and public spending on consumer and producer choices. Prerequisite: C+ or better in Economics 301. (SOC) (Enrollment limited) –Helming

307. Health Economics— This course will study the characteristics of the U.S. health care system and the functioning of the health care market using the tools of microeconomic theory. The aim of the course will be to discuss specific topics in the economics of health, including: the analysis of the causes of health-related behaviors such as obesity and substance abuse; the characteristics of the health care industry and how it is affected by insurance and medical technology; and the impact of government policies on health related behaviors and the provision of medical care. The role of preventive measures and the efficient use of limited healthcare resources will be examined in light of the recent health care reform and in light of their broader implications for public policy. Prerequisite: C+ or better in Economics 301. (SOC) (Enrollment limited) –Xhurxhi

308. Industrial Organization and Public Policy— The course is divided into two parts. The first part consists of an examination of the structure of American industry including a critical analysis of the empirical evidence underlying the extent of competition, oligopoly, and monopoly within the United States. Comparisons are made with other industrialized nations and a number of specific industries are examined in detail. The second part of the course consists of an examination of public policy toward monopoly with specific emphasis on regulation and antitrust policies. Prerequisite: C+ or better in Economics 301. (Calculus is recommended, but not required) (SOC) (Enrollment limited) –Schneider

309. Corporate Finance— Valuation, the development of the modern theory of finance; efficient market hypothesis; portfolio theory; capital budgeting; cost of capital; corporate securities; the securities markets; and other selected topics in finance. Prerequisite: C+ or better in either Economics 301 or Economics 302. Economics 218 (formerly 109) or Mathematics 207 are strongly recommended and Economics 103 is recommended. (SOC) (Enrollment limited) –Hoag

[310. Money and Banking]— An analysis of monetary theory, institutions and policy including the nature, role and significance of money, financial markets and institutions, commercial banking and the money supply process, the Federal Reserve System, and the formulation and implementation of monetary policy, monetary theory, and related policy issues. Prerequisite: C+ or better in Economics 301 and 302. (GLB5) (Enrollment limited)

312. Mathematical Economics— This course is designed to introduce students to the application of mathematical concepts and techniques to economic problems and economic theory. Prerequisite: C+ or better in Economics 301 and 302, and a C- or better in Mathematics 126 or Mathematics 131. (SOC) (Enrollment limited) –McMillen

[313. The Economics of Time Use]— This course will explore the economics of time, specifically, of time use and allocation. The seemingly prosaic question of how individuals expend their most finite resource has profound implications for their quality of life, their relationships with their families, and their broader social connections. The question as to how social groups such as households allocate their time, and how this affects everything from children’s happiness to political participation, is equally important. The course will involve direct use and manipulation of data gathered through the American Time Use Survey (ATUS). Prerequisite: C+ or better in Economics 301 and C- or better in Economics 218 (formerly 109, Mathematics 207 or Mathematics 306 (Enrollment limited)

[314. Cost-Benefit Analysis]— This unit will provide participants with an introduction to the theory and practice of cost-benefit analysis (CBA). The conceptual basis of discounting and the valuation of benefits and costs will be reviewed, highlighting the links to basic economic theory. The principles of CBA will be illustrated through the analysis of contemporary cases from areas such as environmental management, health economics, government regulation, and infrastructure development. The emphasis will be on providing participants with a simple but robust analytical framework that can be applied to the evaluation of a wide range of public policy issues and private projects. Prerequisite: C+ or better in Economics 301. (SOC) (Enrollment limited)

[315. Theories of International Trade]— An examination of the major theories of international trade, beginning with the classical and neoclassical models of international trade and concluding with a survey of the various alternative models of international trade developed over the past three decades. An analysis of commercial policy, preferential trading agreements and other contemporary policy issues in the international economy will be included. Prerequisite: C+ or better in Economics 301. (GLB5) (Enrollment limited)

316. International Finance— This course examines the major theoretical and policy issues faced by business firms, the government, and individual investors in their international financial transactions. Topics include the following: basic theories of the balance of payments, exchange rates, and the balance of trade; interest rates and interest parity; alternative exchange rate systems; and recent developments in the international money markets. Prerequisite: C+ or better in Economics 302. (GLB5) (Enrollment limited) –Ramirez

318. Basic Econometrics with Lab— The formulation and estimation of models; topics include a review of basic concepts and results of statistical inference, single equation regression model, functional forms, problems of estimation, and simultaneous equation models. Students must also enroll in the required lab for this course. Prerequisite: C+ or better in Economics 101 and a C- or better in Economics 218 (formerly 109) or Mathematics 207 or Mathematics 306. (1.25 course credits) (NUM) (Enrollment limited) –Stater

[318. Basic Econometrics]— The formulation and estimation of models; topics include a review of basic concepts and results of statistical inference, single equation regression model, functional forms, problems of estimation, and simultaneous equation models. The computer will be used but no experience is necessary. Prerequisite: C+ or better in Economics 101 and a C- or better in Economics 218 (formerly 109) or Mathematics 207 or Mathematics 306. (NUM) (Enrollment limited)

[319. The Modern Macroeconomy]— This course will examine the current state of the macroeconomy in the United States and the rest of the world. Causes and consequences of recent major events (including the great moderation, the financial crisis, and the European sovereign debt crisis) will be discussed. The course will also examine new features of the economy, such as jobless recoveries and stagnation in industrialized countries, and analyze policy responses to these developments, including quantitative easing by central banks and the Troubled Asset Relief Program. Both theoretical and empirical aspects of recent macroeconomic developments will be explored. Prerequisite: C+ or better in Economics 302. (Enrollment limited)

[324. Financial Crisis]— This course will examine historical financial crises from around the world, using standard macroeconomic theories. We will then use this knowledge of past crises to analyze the Great recession (December 2007 June 2009), its causes, and the measures taken to encourage recovery. This will include analysis of monetary and fiscal responses to the crisis, as well as the pre-crisis policy environment. Topics covered will include: the IS/MP and aggregate supply/aggregate demand models, currency crises, bank runs, liquidity and leverage, sub-prime lending, Quantitative Easing (QE), fiscal stimulus, and the Troubled Asset Relief Program (TARP). Prerequisite: C+ or better in Economics 302. (Enrollment limited)

[326. Economics of Strategies in Firms and Markets]— This course is organized around the topics of economics of strategies between and within firms. The course teaches students various applications of game theory against the background of firm behavior. The three major themes of the course are (1) basic principles of game theory; (2) applications of game theory within firms; and (3) empirical facts of organizations. The major topics include monitoring and incentivizing employees, trust and cooperation within groups, patent races and patent adoption, and communications within and across organizations. Coursework will include case studies, strategic interactions in class, and a final group project and presentations. Prerequisite: C+ or better in Economics 301. (SOC) (Enrollment limited)

[328. Applied Econometrics: Micro-econometrics]— Application and extensions of basic econometric tools. Topics include analysis of panel data, maximum likelihood estimation, analysis of discrete and limited response data, analysis of count data, sample selection, and duration of models. Prerequisite: C- or better in Economics 318. (Enrollment limited)

328. Applied Econometrics: Time-Series Analysis— This course deals with econometric methods and problems that arise when data consists of observations on one or several variables over time. Topics include: autocorrelation, distributed lag and autoregressive models, ARIMA models, co-integration, and vector autoregressive correction models. Prerequisite: C+ or better in Economics 302 and a C- or better in Economics 318 . (SOC) (Enrollment limited) –Ramirez

[331. Issues in Environmental and Energy Economics]— The economic analysis of selected environmental and energy issues such as current air pollution control policies and water pollution control policies, recycling strategies, conservation, the development of new energy sources, such as solar energy and wind power, and the environmental consequences of different energy types. Each student will be required to write a major research paper on an approved topic and to present the major findings of that paper in a seminar. Students will also be required to read and generally acquaint themselves with all the topics being studied in the seminar. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited)

[331. Central Banking and Monetary Regimes]— This seminar provides a critical analysis of the rationale, behavior, and effectiveness of central banking and alternative monetary institutions. It will emphasize the Federal Reserve System and alternative monetary arrangements from historical and analytical standpoints, treating in detail the formulation and execution of monetary policy in the context of both domestic and international constraints. Attention also is given to the European Monetary Union and current issues in international monetary relations. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited)

[331. Issues in International Trade and Finance]— This seminar examines important and recent developments in international economics. Topics include strategic trade policy and market structure; the economics of trading blocs such as the EU and NAFTA; the economic consequences of continued U.S. external deficits; globalization and inequity; exchange rates, interest rates, and volatility; speculative capital flows and exchange rate policies; and financial crises and the prospects for the EMU. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited)

[331. Experimental Economics]— This seminar will introduce students to applications of experiments in economic research, focusing on many well-developed areas of laboratory-tested experiments as well as experimental methodology. We will review, discuss, and analyze some of the most influential papers written in the field of Experimental Economics and conduct classroom experiments. We will examine the motivation behind experiments, their usefulness and their limitations. This course will include topics such as experiments involving individual decision making, game theory, bargaining, trust and public choice. Finally, students will be required to develop and conduct their own experiment-based research projects. This course has a community learning component. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited)

331. Moving On Up? Social Mobility and the Immigrant Experience— This course will explore questions of social and economic mobility in historical perspective with special emphasis on the immigrant experience, past and present, in Hartford. Topics will include the role of social capital, education, and labor market opportunities in understanding the dynamics of mobility. The final part of the course will examine recent research on growing inequality and social immobility in the U.S. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited) –Clark

331. Behavioral Economics— This seminar introduces students to behavioral economics, which is a field within economics that applies insights from psychology to improve our understanding of economic phenomena. We will discuss significant theoretical papers that advance our understanding of choice under uncertainty and inter-temporal choice and empirical work that is based on these theories. We will also discuss papers that have used other insights from psychology to study management, finance, health, education, and public policy. Throughout the course, students will read and take turns leading discussions of academic journal articles. Each student will also choose three articles from among those discussed in class or additional related articles and write summaries and evaluations of each article. The final project for the course will be a written research proposal. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited) –Szembrot

331. Drug Policy— This course will examine U.S. policy toward narcotics such as cocaine, heroin, marijuana, and methamphetamines. The topics we study will include: current drug policies in the U.S., economic theories and empirical evidence on the determinants of drug use and how drug use affects education, labor market outcomes, and society. We will consider how the enforcement of drug prohibitions affects consumer demand and drug prices, and how it contributes to drug-related violence, property crime, and mass incarceration. We will also consider the costs and benefits of alternative policy reforms such as decriminalization, sentence reduction and modification, and legalization. Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. (WEB) (Enrollment limited) –Stater

399. Independent Study— Submission of the special registration form, available in the Registrar’s Office, and the approval of the instructor and chairperson are required for enrollment. Prerequisite: C+ or better in Economics 301 or Economics 302, as appropriate. (1 - 2 course credits) –Staff

401. Independent Study in Quantitative Applications— Submission of the special registration form, available in the Registrar’s Office, and the approval of the instructor are required for enrollment. Prerequisite: C- or better in Economics 312 or Economics 318 (0.5 - 1 course credit) –Staff

403. Senior Thesis Seminar Part II— This seminar will address the research and thesis writing process and will include workshops on writing, data and library resources. In addition, students will be asked to present preliminary work for discussion to seminar participants, and to participate in three sets of presentations to the Department during the academic year. (0.5 course credit) (Enrollment limited) –Stillwagon

466. Teaching Assistantship— Submission of the special registration form, available in the Registrar’s Office, and the approval of the instructor and chairperson are required for enrollment. Cannot be used for major credit. (0.5 - 1 course credit) –Staff

499. Senior Thesis Part 2— Written report and formal presentation of a research project. Open to all senior majors and required of all students who wish to earn honors in Economics. A student who intends to write a thesis must locate a thesis adviser, and must submit a preliminary proposal to the thesis adviser by the last day of classes in the spring semester of the junior year. A final proposal must be submitted to the thesis adviser by final registration in the fall semester of the senior year. Submission date of the thesis is the third Thursday following Spring Recess. Seniors who undertake Economics 498-99 will be excused from Economics 331, Studies in Social Policies and Economic Research. In addition to the final proposal, submission of the special registration form available in the Registrar’s Office and the approval of the instructor is required for each semester of this year-long thesis. (2 course credits are considered pending in the first semester; 2 course credits will be awarded for completion in the second semester.) Prerequisite: C+ or better in Economics 301 and 302. (2 course credits) (WEB) –Staff

Graduate Courses

953. Research Project— The graduate director, the supervisor of the project, and the department chair must approve special research project topics. Conference hours are available by appointment. Contact the Office of Graduate Studies for the special approval form. –Staff

Courses Originating in Other Departments

Mathematics 107. Elements of Statistics— View course description in department listing on p. 674. Prerequisite: A satisfactory score on the Mathematics Placement Examination or a C- or better in Quantitative Literacy 101. Students who qualify for Mathematics 131 or 207 will not be eligible to enroll in this course. –Nu’Man, Pellico, Ray

[Mathematics 126. Calculus with Algebra and Trigonometry]— View course description in department listing on p. 674. Prerequisite: C- or better in Mathematics 125.

Mathematics 131. Calculus I— View course description in department listing on p. 674. Prerequiste: A satisfactory score on the Mathematics Placement Examination. –Pellico

Mathematics 207. Statistical Data Analysis— View course description in department listing on p. 675. Prerequisite: A suitable score on the Mathematics Placement Examination or a grade of C- or better in Mathematics 107.. –Adelstein, Goldwyn, Skardal