### Programs by Campus

#### Indianapolis

##### Economics

###### Courses

- ECON-E 420 History of Economic Thought (3 cr.) Examination of main theoretical developments since the beginning of the systematic study of economics. Theoretical propositions and structures of the earlier writers will be interpreted and evaluated in terms of modern economic analysis (not currently offered).

- ECON-E 504 Mathematics for Economists (1-3 cr.) Topics in mathematics that are particularly useful in the application of microeconomic theory, macroeconomic theory, and econometrics. Topics covered include matrix algebra, comparative-static analysis, constrained optimization, difference equations in discrete time, game theory, and set theory as applied to general equilibrium analysis (not currently offered).

- ECON-E 513 Special Topics in Economic History (3 cr.) Explicit methodology and economic analysis applied to major issues in American and European economic history (not currently offered).

- ECON-E 514 The Nonprofit Economy and Public Policy (3 cr.) P: E201. The role of nonprofit organizations (universities, churches, hospitals, orchestras, charities, day care, research, nursing homes) in mixed economies. Public policy controversies such as regulation of fundraising, antitrust against universities, “unfair” competition with for-profit firms, and the tax treatment of donations. This course may not be taken for credit by anyone who has received credit in ECON E414.

- ECON-E 515 Institutional Setting for Health Economics in the U.S. (1.5 cr.) P: completed or concurrent with E521 and E571. Overview of the structure of the U.S. health care system including health care financing, health care delivery, and government programs. Private and public financing mechanisms as well as government regulation. Comparison of the U.S. system to the health care systems of other countries.

- ECON-E 516 Institutional Setting for Nonprofit/Philanthropic Economics (1.5 cr.) P: E667 and E668. This course provides a broad overview of nonprofit institutions and philanthropic practices, along with a discussion of available data sources on each. We discuss the size and scope of nonprofit organizations, revenues, governance, regulation and taxation, intersectoral relations, patterns of philanthropy, and public policies that affect giving behaviors.

- ECON-E 519 Regional Economics (3 cr.) Not currently offered. Regional economics is the study of economic behavior in space. The course examines the internal and interregional determinants of growth and decline of a region from supply-and-demand perspectives. Public policies to influence these determinants are considered (not currently offered).

- ECON-E 520 Optimization Theory in Economic Analysis (3 cr.) P: Calculus and linear algebra. Introduction to concepts and techniques of optimization theory applied in modern micro and macroeconomics. Theory and application of Lagrange multipliers, comparative statics analysis, valve functions and envelope theorems. Elements of dynamic programming and other methods of economics dynamics.

- ECON-E 521 Theory of Prices and Markets I (3 cr.) P: E520. Develops the methodology of economic analysis and teaches the tools and language of price theory. Fundamental elements of consumer theory, producer theory, and economics of uncertainty. Emphasis on comparative statics and the duality theory. Topics include welfare analysis, the theory of price indices, quality of goods, revealed preferences, the theory of derived demand, expected utility theory, attitudes toward risk, and various measures of riskiness.

- ECON-E 522 Macroeconomic Theory I (3 cr.) P: E520. Introductory course on macroeconomic dynamics; covers growth models and asset pricing theories, endogenous growth theories, optimal growth problems, and competitive dynamic equilibrium models. Dynamic programming tools introduced as needed. All models are cast in a discrete time setup; presents deterministic and stochastic theories.

- ECON-E 528 Economic Analysis of Health Care (3 cr.) A graduate introduction to health economics. Applications of economic theory to problems in various areas in health care. Applications of econometric techniques to the same. Topics include how physicians, institutions, and consumers respond to economic incentives and what policies contribute maximally to efficiency and welfare (not currently offered).

- ECON-E 541 Labor Market Analysis (3 cr.) P: Consent of instructor (Indianapolis). Not currently offered. An analytical approach to the labor market. Theoretical underpinning and statistical testing of issues in demand and supply of labor, household decision making, human capital, contract theories, unionism, minimum wages, and discrimination (not currently offered).

- ECON-E 545 Applied Labor Economics (3 cr.) Not currently offered. Discussion of wage rates and working conditions, searches by workers or firms, investment training, quits and layoffs, shirking, discrimination, the division of household labor, retirement, and implicit contracts. The course also examines the impact of institutions such as unions and the government on the efficiency of the labor market (not currently offered).

- ECON-E 551 Monetary Economics II (3 cr.) Not currently offered. Introduces alternative models of monetary economies; covers topics in monetary economics such as money and growth and optimal money growth. The course takes a unified approach to macroeconomic policy, treating monetary and fiscal policy as jointly determining macroeconomic equilibria. May include discussion of empirical work on money (not currently offered).

- ECON-E 568 Public Finance I (3 cr.) P: E360, E470, E521, E522. Partial equilibrium, microeconomic analysis of how tax and subsidy policies affect various types of individual and firm behavior. Theoretical models are introduced to assess and develop quantitative studies of fiscal policy. Summaries of the empirical impact of policy will be formed for the purpose of becoming an “input” in the complete general equilibrium analysis conducted in E569 Public Finance II (not currently offered).

- ECON-E 569 Public Finance II (3 cr.) P: E568. Empirical examination of the general equilibrium effects of major tax/subsidy programs, such as personal income taxation, corporate profit taxation, income maintenance, Social Security, and government provision of education. In addition, proposed reforms to these programs will be analyzed using empirically based simulation models (not currently offered).

- ECON-E 570 Fundamentals of Statistics and Econometrics (3 cr.) P: E504. Mathematical overview of statistics and econometrics at graduate level. Topics covered include probability and probability distributions, sampling distributions, tests of hypotheses, estimation, simple regression, multiple regression, generalized linear model and its applications, simultaneous equation systems.

- ECON-E 571 Econometrics 1 – Statistical Foundations (3 cr.) P: Undergraduate courses in statistics and calculus. The probability bases for statistical estimation and testing are introduced in the context of issues, theories, and data found in economics. The Classical linear regression model is presented as the starting point for multivariate analyses in econometrics. Students work with various computer programs in and out of the scheduled class periods.

- ECON-E 573 Econometrics II (3 cr.) P: E571. Estimation and inference in linear regression model, basic asymoptotic theory, heteroskedasticity, measurement error, generalized least squares, instrumental variable model, maximum likelihood estimation, generalized method of moments, qualitative response models.

- ECON-E 574 Applied Econometrics and Forecasting (3 cr.) P: E570. An overview of techniques employed in economic model building, estimation, and usage. Topics covered include single and multiple equation system estimation, limited dependent variable regression techniques, hypothesis testing, policy analysis, and forecasting. Various forecasting techniques are discussed, including smoothing decomposition methods and time series analysis. A number of projects are assigned throughout the semester to give the student hands-on experience with the different techniques.

- ECON-E 581 Topics in Applied Microeconomics I (3 cr.) P: E521 and E570 or consent of instructor. This course is a graduate-level introduction to theoretical and empirical applications in two areas of microeconomics. We will demonstrate how economic concepts can be usefully applied to understanding problems in the subdiscipline under study and discuss and apply estimation techniques appropriate for problems in the area.

- ECON-E 582 Topics in Applied Microeconomics II (3 cr.) P: E521 and E570 or consent of instructor. This course is a second graduate-level introduction to theoretical and empirical applications in two areas of microeconomics. We will demonstrate how economic concepts can be usefully applied to understanding problems in the subdiscipline under study, and discuss and apply estimation techniques appropriate for problems in the area.

- ECON-E 583 Topics in Applied Macroeconomics (3 cr.) P: E522 and E570 or equivalents, or consent of instructor. This course is a graduate-level introduction to theoretical and empirical applications in two areas of macroeconomics. We will demonstrate how economic theories can be usefully applied to understanding problems in the subdiscipline under study and discuss and apply estimation and calibration techniques appropriate for problems in the area.

- ECON-E 585 Industrial Organization and Control (3 cr.) P: Consent of instructor (Indianapolis only). Analysis of interrelated structure, behavior, and performance in industrial markets and multimarket corporations; multidimensional nature of competitive processes. Public controls. Topics include patterns of oligopoly, vertical integration, entry barriers; “cartelized” coalescence, limit pricing, price discrimination, long-term contracts; capacity expansion and utilization, resource reallocation, and innovation (not currently offered).

- ECON-E 600 Readings in Economics (1-6 cr.) Individual readings and research.

- ECON-E 611 Information Economics and Theories of Incentives and Contracts (3 cr.) P: E521. The course covers topics in the theories of incentives and contracts that study situations in which there are explicit or implicit contractual obligations. It explores the role and influence of asymmetric information in determining outcomes with special emphases on moral hazard and adverse selection.

- ECON-E 621 Theory of Prices and Markets 2 (3 cr.) P: E520. Analysis of equilibrium, first- and second-order conditions; statistical derivation of demand and cost curves; activity analysis; general equilibrium; welfare economics; microeconomics of capital theory; pure oligopoly and game theory.

- ECON-E 643 Health Economics I (3 cr.) P: E515, E573, and E611. Production of health, demand for health, determinants of health, health disparities, international comparisons, cost-effectiveness and valuation.

- ECON-E 808 Thesis (M.A.) (arr cr.) **This course is eligible for a deferred grade.

- ECON-E 809 Thesis (Ph.D) (arr cr.) **This course is eligible for a deferred grade.

- ECON-E 577 Computer Methods and Data Analysis (3 cr.) P: Introductory econometrics at the Masters (E570) or Ph.D. (E571) level that cover multiple regression. This is the first of a two-semester sequence in computer methods and data analysis. Teaches students to use large datasets in an econometric analysis to answer a research question, to program in Stata, and to organize a complicated data project. The course also will complete students' introduction to the Stata programming language. The course prepares students to carry out their own large-scale research project and/or efficiently work within an organization that uses large data files to achieve its objectives.

- ECON-E 644 Health Economics 2 (3 cr.) P: Students must have completed the core economics theory courses including E521, E611, and E621, the first year core courses in Econometrics (E571 and E573) as well as E515: Health Institutions. Students with prior knowledge of U.S. health care institutions should consult with the instructor, prior to registration, about taking E515 concurrently.
This course builds on the core theory, econometrics and health economics courses to provide an in depth knowledge of key issues related to markets and market failure in the supply of health care services, the impact of insurance on the demand for health care services, response of consumers to insurers' financial incentives, the role of government in health care markets, the labor market behavior of physicians; hospital ownership, competition, and reimbursement. In addition to introducing theoretical concepts the course aims at familiarizing students to current research on these topics by means of review of seminal journal articles. It will provide a foundation for understanding key dimensions in health care markets, appreciate contributions of past literature on the subject and initiate constructive critical thought on the existing work and future directions of research in the field.

- ECON-E 670 Econometrics 3-System and Panel Econometrics Models (3 cr.) P: Equivalent of Econ-E571, E573 or above is required. Students should be familiar with basic concepts of econometrics including probability theory, linear algebra, OLS, GLS and maximum likelihood. Students who wish to submit an empirical paper need some knowledge of a statistical software or a programming language in order to prepare the required empirical paper.
Simultaneous equation models (2SLS, 3SLS), time series concepts for panel data analysis and serial correlation, pooled cross-section methods, generalized method of moments, nonlinear panel data models (ML and GMM).

- ECON-E 673 Econometrics 4-Microeconometrics (3 cr.) P: ECON-E670, E571, and E573. This course will cover microeconometric data and causal/noncausal modeling; endogeneity; survey sampling; biases due to sampling design; sample selection and self-selection; extensions of linear regression; selected semiparametric methods (fat tails; instrumental variables; quantile regression); discrete choice and limited dependent variable models; linear and nonlinear panel models.