IUPUI Campus Bulletin 2012-2014

Graduate Courses

• ECON 519 Mathematics for Economists (3 cr.)

• ECON-E 504 Mathematics for Economists (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.

• 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.

• 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 for E414.)

• ECON-E 515 Institutional Setting for Health Economics in the U.S. (3 cr.) P: completed or concurrent with E521 and E571. Overview of the structure fo 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 515 Institutional Setting for Nonprofit/Philanthropic Economics (3 cr.) P: completed or concurrent with E521 and E571. 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, goverance, regulation and taxation, intersectoral relations, patterns of philanthorpy, and public policies that affect giving behaviors.

• ECON-E 519 Regional Economics (3 cr.) 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.

• 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 (3 cr.) P: E504 or consent of instructor. Pure theory of consumer behavior, competitive exchange, theory of production; resource allocation, Pareto optimum, monopoly and monopsony, imperfect competition, moral hazard, adverse selection, and market signaling.

• ECON-E 522 Macroeconomic Theory 1 (3 cr.) P: C520 Introductory course on macroeconomic dynamics; covers growth models and asset pricing theories, endogenous growth theories, optiomal growth problems, and competitive dynamic equilibrium models. Dynamic programming tools introduced as needed.  All models are cast in 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.

• ECON-E 541 Labor Market Analysis (3 cr.) P: consent of instructor. An analytical approach to the labor market. Theoretical underpinning and statistical testing of issues on demand and supply of labor, household decision making, human capital, contract theories, unionism, minimum wages, and discrimination.

• ECON-E 545 Applied Labor Economics (3 cr.) P: E321 or E470 or equivalents. Discussion of wage rates and working conditions, searches by workers or firms, investment in 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

• ECON-E 551 Monetary Economics II (3 cr.) Introduces alternative models of monetary economies; covers topics in monetary economics such as money and growth and optimal money growth. This course takes a unified approach to macroeconomic policy, treating moneytary and fiscal policy as jointly determining macroeconomic equilibria. May include discussion of empirical work on money.

• ECON-E 568 Public Finance I (3 cr.) P: E308 and E470. 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 Public Finance II.

• ECON-E 569 Public Finance II (3 cr.) P: E568. Empirical examination of the general equilibrium effects of major tax and 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.

• ECON-E 570 Fundamentals of Statistics and Econometrics (3 cr.) 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 system.

• ECON-E 571 Econometrics I-Statistical Foundations (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 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 multi-equation system estimation, limited dependent variable regression techniques, hypothesis testing, policy analysis, and forecasting. Various forecasting techniques are discussed, including smoothing and decomposition methods and time series analysis. A number of projects are assigned throughout the semester in order to give the student hands-on experience with the different techniques.

• ECON-E 577 Computer Methods and Data Analysis (3 cr.) P:E570 or E573. Introduction to applied economic research using statistical software and econometric programming. Applications from key micro datasets.

• ECON-E 578 Advanced Computer Methods and Complex Datasets (3 cr.) P:E577. Conducting empirical research with advanced computer methods and complex datasets.

• ECON-E 581 Topics in Applied Microeconomics I (3 cr.) P: E521. This course is a graduate-level introduction to theoretical and empirical applications in one or more 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 Introduction to 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. 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.

• ECON-E 600 Research in Economics (arr. cr.) Research in Economics.

• 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 Theories of Prices and Market (3 cr.) P: E520. Analysis of equilibrium, first- and second-orderconditions; statistical derivation of demand and cost curves; activity analysis; general equilibrium; welfare economics; microeconomics of capital theory; pure oligopoly and gave 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 644 Health Economics II (3 cr.) P: E515, E573, and E611. Health insurance, moral hazard, adverse selection, demand for health care with health insurance, geographic variations in care, health care disparities, employersponsored insurance and labor markets, provision of health care (physicians, hospitals, managed care), government programs (Medicare and Medicaid), R&D and pharmaceuticals, technological change, costs and cost containment.

• ECON-E 667 Nonprofit/Philanthropic Economics I (3 cr.) P: E516, E521, and E573. The economic analysis of Altruism, Voluntary Action & Public Goods. Consideration of individual decisions to give, volunteer, or help others including alternative formulations of utility, game structures, determinants of behavior, and consequences for social welfare.

• ECON-E 668 Nonprofit/Philanthropic Economics II (3 cr.) P: E516, E573, and E611. The economic analysis of Nonprofit Organizations. Consideration of organizational behavior and the role of formal philanthropic institutions and organizations in the broader economy. Role of nonprofits, modeling nonprofit behavior, empirical testing of theories [public goods, contract theory, subsidy theories, entrepreneurial sorting, et al], public policy toward nonprofit organizations.

• ECON-E 670 Econometrics 3-System and Panel Econometric Models (3 cr.) P:E573 or equivalent. Simultaneous equation models (2SLS, 3SLS), time series concepts for panel data analysis and serial correlation, pooled cross-section methods, linear panel data models [First Differences, Fixed Effects (FE) and Random Effects (RE)], nonlinear panel data models (ML and GMM).]

• ECON-E 673 Econometrics 4-Microeconometrics (3 cr.) P: E573 or equivalent. Microeconometrics with applications to labor, health, and public economics. Extensive coverage of limited dependent variable and panel data models. Empirical implementation is an essential component of the course.

• ECON-E 744 Seminar/Workshop in Health Economics (3 cr.) P: E644 Current topics in advanced health economics. Preparation of a research paper and oral presentation to a seminar.

• ECON-E 765 Seminar/Workshop in Nonprofits/Philanthropic Economics (3 cr.) P:E668 Current topics in advanced nonprofit/philanthropic economics. Preparation of a research paper and oral presentation to a seminar.

• ECON-E 800 Research in Economics (arr cr.) Research in Economics

• ECON-E 808 Thesis (M.A.) (arr. cr.) Thesis (M.A.).

Honors Courses

• ECON-S 201 Introduction to Microeconomics: Honors (3 cr.) Designed for students of superior ability. Covers the same core materials as E201. PUL=5

• ECON-S 202 Introduction to Macroeconomics: Honors (3 cr.) Designed for students of superior ability. Covers the same core materials as E202. PUL=5

• ECON-S 270 Introduction to Statistical Theory in Economics and Business: Honors (3 cr.) P: MATH M118. P or C: MATH M119 or 163. Covers the same core materials as E270 but with more involved applications in economics. PUL=1

Non-Honors Courses

• ECON-E 101 Survey of Current Economic Issues and Problems (3 cr.) For nonmajors only. Basic economic principles applied to current social issues and problems. Topics covered will typically include inflation, unemployment, wage and price controls, welfare, social security, national debt, health programs, food prices, pollution, crime, mass transit, revenue sharing, multinationals, population, and energy. Not open to those with previous college-level economics courses. PUL=5

• ECON-E 102 Economics of Personal Finance (3 cr.) P: No prerequisite. Shows how the state of the economy, prices, and interest rates should guide personal decisions about spending, saving, credit, investments, and insurance. Intended for non-business students. PUL=5

• ECON-E 111 Topics in the Economic History of Western Civilization I (3 cr.) Selected topics in the economic history of Western civilization, including the growth of the market organization, industrialization, institutional growth and change, imperialism, and labor. PUL=5

• ECON-E 112 Topics in the Economic History of Western Civilization II (3 cr.) Selected topics in the economic history of Western civilization, including the growth of the market organization, industrialization, institutional growth and change, imperialism, and labor. PUL=5

• ECON-E 201 Introduction to Microeconomics (3 cr.) P: sophomore standing. E201 is a general introduction to microeconomic analysis. Discussed are the method of economics, scarcity of resources, the interaction of consumers and businesses in the market place in order to determine price, and how the market system places a value on factors of production. PUL=5

• ECON-E 202 Introduction to Macroeconomics (3 cr.) P: E201. An introduction to macroeconomics that studies the economy as a whole; the levels of output, prices, and employment; how they are measured and how they can be changed; money and banking; international trade; and economic growth. PUL=5

• ECON-E 270 Introduction to Statistical Theory in Economics (3 cr.) P: MATH M118. Analysis and interpretation of statistical data in business and economics. Discussion of frequency distribution, measures of central tendency and variability, statistical inference, hypothesis testing, correlation, regression, and time series. PUL=1

• ECON-E 303 Survey of International Economics (3 cr.) P: E201-E202. Survey of international economics. Basis for and effects of international trade, commercial policy and effects of trade restrictions, balance of payments and exchange rate adjustment, international monetary systems, and fixed vs. flexible exchange rates. Students who have taken E430 many not enroll in E303 for credit. PUL=5

• ECON-E 304 Survey of Labor Economics (3 cr.) P: E201. Economics problems of the wage earner in modern society; structure, policies, and problems of labor organizations; employer and governmental labor relationships. PUL=5

• ECON-E 305 Money and Banking (3 cr.) P: E201-E202. Money and banking system of the United States, including problems of money and the price level, proper organization and functioning of commercial banking and Federal Reserve System, monetary standards, and credit control. Recent monetary and banking trends. PUL=5

• ECON-E 307 Current Economic Issues (3 cr.) P: E201 or permission of instructor. Current economic issues, problems, and research methods. Designed to explore in depth an economic issue currently before the public or to examine a particular aspect of the methodology of economics. Examples would be a study of the economic aspects of discrimination, a study of urban economic policy, or a study of simplified models in economics. PUL=5

• ECON-E 308 Survey of Public Finance (3 cr.) P: E201-E202. Analysis of government expenditures and revenue sources, taxation and capital formation, public debt and inflation, growth in government spending, and intergovernmental fiscal relations. PUL=5

• ECON-E 321 Intermediate Microeconomic Theory (3 cr.) P: E201-E202, MATH M119. Theory of demand; theory of production; pricing under different market conditions; allocation and pricing of resources; partial and general equilibrium theory; and welfare economics. Analysis of current economic problems and technology changes in firms and industries. PUL=5

• ECON-E 322 Intermediate Macroeconomic Theory (3 cr.) P: E201-E202. Theory of income, employment, and price level. Study of countercyclical and other public policy measures. National income accounting. PUL=5

• ECON-E 323 Urban Economics (3 cr.) P: E201-E202. Introduction to basic concepts and techniques of urban economic analysis to facilitate understanding of urban problems; urban growth and structure, poverty, housing, transportation, and public provision of urban services. PUL=5

• ECON-E 325 Comparative Economic Systems (3 cr.) P: E201-E202. Essential economic theories and features of economic systems, including private enterprise, authoritarian socialism, and liberal socialism. PUL=5

• ECON-E 326 Applied Research in Urban Economics (3 cr.) P: E201-E202 or permission of instructor. Field research in urban economics. Topics to be selected by students, covering such areas as human resource problems, transportation and housing surveys, demographic shifts, and income distribution issues. PUL=5

• ECON-E 335 Introduction to Mathematical Methods in Economics (4 cr.) P: E201-E202, MATH M118-M119. Introduction to quantitative techniques used in economics, and instruction in the application of these techniques to the analysis of economics problems. PUL=1

• ECON-E 337 Economic Development (3 cr.) P: E201, E202, and junior standing or consent of instructor. Characteristics of economically underdeveloped countries. Obstacles to sustained growth; planning and other policies for stimulating growth; examination of development problems and experience in particular countries. PUL=5

• ECON-E 355 Monetary Economics (3 cr.) P: E305 or E322 or equivalents. Supply and demand functions for money in the context of models of the U.S. economy. Formulation of Federal Reserve policy decisions and effects on interest rates, prices, output, and employment. Current problems in monetary policy and theory. PUL=5

• ECON-E 363 Environmental and Natural Resource Economics (3 cr.) P: E201-E202. Basic theory and policy of such topics as pollution, resource depletion, environmental risk, and resource conservation. Issues covered include limits to growth, quality of life, and the appropriate roles for the private market and federal control. Credit not given for both E363 and E463. PUL=5

• ECON-E 375 Introduction to Mathematical Economics (3 cr.)

• ECON-E 380 Law and Economics (3 cr.) P: E201 or permission of instructor. The application of economic method to legal institutions and legal issues. Examples would be the optimum use of resources to prevent crime, the economic value of a human life, the economic consequences of regulating the business firm, the economics of property rights, torts, and contracts. PUL=5

• ECON-E 385 Economics of Industry (3 cr.) P: E201 or permission of instructor. A theoretical and empirical analysis of the structure, conduct, and performance of major American industries. Emphasized is the degree of competition in various markets, how markets operate under conditions of competition or monopoly, and competition as a dynamic process over time. PUL=5

• ECON-E 387 Health Economics (3 cr.) P: E201. This course applies economic theory to the study of policy issues in health economics. Specific issues included are: determinants of demand for medical services and insurance; training and pricing behavior of physicians; pricing behavior and costs of hospitals; market and regulative approaches. PUL=5

• ECON-E 406 Senior Seminar (3 cr.) P: E321 and E322 or permission of instructor. Assessment of the current state of economic knowledge and discussion of how economics is applied to study the problems facing modern society. PUL=5

• ECON-E 408 Undergraduate Readings in Economics (3 cr. maximum cr.) P: permission of instructor. Individual readings and research. PUL=5,1

• ECON-E 410 Selected Topics in U.S. Economic History (3 cr.) P: E201-E202. Analysis of selected topics, including transportation developments, government intervention, systems of property rights, slavery, economic growth, income distribution, economic stability, technical change, and others. PUL=5

• ECON-E 414 Economics of the Nonprofit Sector (3 cr.) P: E201. The role of nonprofit organizations (universities, churches, hospitals, orchestras, charities, day care, research, nursing homes) in mixed economics. Public policy controversies such as regulation of fundraising, antitrust against universities, ‘‘unfair’’ competition with for-profit firms, and the tax treatment of donations. PUL=5

• ECON-E 420 History of Economic Thought (3 cr.) P: E201-E202. 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. PUL=5

• ECON-E 430 Introduction to International Economics (3 cr.) P: E201-E202. Forces determining international trade, finance, and commercial policy under changing world conditions; theory of international trade; structure of world trade; tariff and trade control policies; the balance of payments problem; evolution of international economic institutions; and monetary relations. PUL=5

• ECON-E 441 Economics of Labor Markets (3 cr.) P: E201, E321, and E270 or equivalent. Analysis of the functioning of labor markets with theoretical, empirical, and policy applications in determination of employment and wages in the U.S. economy. PUL=5

• ECON-E 447 Economics of the Labor Market (3 cr.) P: E201. Analysis of the functioning of the U.S. labor market. Labor force concepts, unemployment, mobility, wages, and current manpower problems and policies. Analysis of wage determination, wage policy, and their interaction with institutional factors. PUL=5

• ECON-E 450 Business Conditions Analysis and Forecasting (3 cr.) P: E201-E202. This course examines sources of instability in industrialized economies. Various theories of the business cycle are examined and critiqued. In addition, the empirical determinant of aggregate demand, prices, and interest rates are discussed. Alternative forecasting techniques are considered and the use of these techniques is demonstrated. PUL=1

• ECON-E 470 Introduction to Econometrics (3 cr.) P: E270, MATH M119. Application of regression analysis to economic and business data. Estimation and hypothesis testing of classical regression model. Heteroscedasticity, collinearity, errors in observation, functional forms, and autoregressive models. Estimation of simultaneous equation models. Credit will not be given for both E470 and E472. PUL=1

• ECON-E 485 Economic and Social Control of Industry (Antitrust) (3 cr.) P: E201 or permission of instructor. This course is a study of the economic reasoning behind and consequences of the application of antitrust laws aimed at altering the structure, conduct, and performance of the American economy. Specific legal cases that have been brought under the Sherman Act, the Clayton Act, as amended, and the Federal Trade Commission Act are analyzed. PUL=5