Macroeconomics is the study of national and global economies. Topics include output, unemployment and inflation; and how they are affected by financial systems, fiscal and monetary policies. Prerequisite for most upper-division courses. Meets New Mexico General Education Curriculum Area 4: Social and Behavioral Sciences.

This course will provide a broad overview of microeconomics. Microeconomics is the study of issues specific to households, firms, or industries with an emphasis on the role of markets. Topics discussed will include household and firm behavior, demand and supply, government intervention, market structures, and the efficient allocation of resources.Prerequisite for most upper division courses. Meets New Mexico General Education Curriculum Area 4: Social and Behavioral Sciences.

Intermediate analysis of microeconomic theory and concepts. Topics include consumer behavior and demand, production and costs, price and output under both perfect competition and pure monopoly. Prerequisite: 2110 and 2120 and (307 or MATH 1430 or MATH 1512).

Theories of national income determination in explaining business cycles; aggregate supply; and the role of expectations. Role of monetary and fiscal policies in stabilizing the economy. Prerequisite: 2110 and 2120 and (307 or MATH 1430 or MATH 1512).

Introduces math, data, and writing skills that are essential for understanding, interpreting and communicating economics concepts. Prerequisite: MATH 1220 or MATH 1240 or ACT Math =>26 or SAT Math Section =>620 or ACCUPLACER College-Level Math =>100. Pre- or corequisite: 2110 or 2120.

Introductory statistics, probability, probability distributions and hypothesis testing. Basic econometric techniques emphasizing estimation of economic relationships and the use of econometric models in forecasting. Prerequisite: 2110 and 2120 and MATH 1350.

Market concepts and health care issues. Economic assessment of the U.S. health care system. Explores physician supply and demand, hospitals, malpractice, pharmaceuticals, insurance and related topics. Prerequisite: 2110 and 2120.

Taxation, governmental borrowing, financial administration and public expenditures. Prerequisite: 300.

Development of the principle economic doctrines and schools of economic thought from the Physiocrats to Keynes. Prerequisite: 2110 and 2120.

Specialized topics in health care economics including medical education, national health insurance, comparative systems, drug industry and other contemporary issues. Emphasis on empirical applications in the study of health care issues. For course content, consult the economics department. Course may be repeated without limit provided the topics vary. Prerequisite: 300 and 309 and **335.

Focus on public policy and regulation. Specialized issues such as development and management of water, mineral, energy, air quality, forest and fishery resources, resource scarcity, sustainability, non-stationary pollution, water quality and global resource distribution. Prerequisite: 300 and 309.

For senior students wishing to study topics not covered in an existing course or in more detail. Requirements will be agreed upon between student and instructor. Prerequisite: 300 and 303 and 309.

A faculty-directed exploration of a specific topic through reading, discussion, and critique. Open to juniors or seniors with an overall grade point average of at least 3.2 and approval of the department. Prerequisite: 309. Restriction: junior or senior standing and permission of department.

Faculty-supervised investigative study that results in the development and writing of an undergraduate Senior-level thesis. Prerequisite: 498.

Topics include producer and consumer theory, duality and welfare measures, competitive markets and monopoly and decision making under uncertainty. Restriction: admitted to M.A. Economics or Ph.D. Economics.

Calculus and matrix theory as applied to macro and micro models. Unconstrained and constrained optimization; static and comparative static analysis; introduction to dynamic analysis. Restriction: admitted to M.A. Economics or Ph.D. Economics.

Discrete and continuous probability distributions; expectations; joint, conditional marginal distributions; hypothesis testing; least squares estimators; violation of the least squares principle. Econometric software with applications. Restriction: admitted to M.A. Economics or Ph.D. Economics.

Simultaneous equation methods, nonlinear least squares, maximum likelihood method, qualitative dependent variable models, asymptotic properties and test statistics. Emphasis on computer modeling. Prerequisite: 509.

Special topics in applied economics as they pertain to the major fields and support courses. Available for use by visiting faculty. Prerequisite: 501 and 504. Restriction: permission of instructor.

Causes and consequences of environmental externalities. Design and implementation of alternative policy instruments. Theory and methods to measure economic value of market and non-market environmental services. Prerequisite: 501 and 504.

(Also offered as WR 571) Students examine contemporary issues in water resource systems, including water quality; ecosystem health; stakeholder concerns; economics; and water supply, policy, management and allocation. Emphasis on teamwork, cooperation, and oral, written and graphic communication. {Fall}

An independent study course on economic problems or issues. The study is carried out under the supervision of an economics faculty member. Restriction: permission of instructor.

Introduction to advanced study of public economics, including theoretical and empirical analysis of market failures and government interventions. Topics include externalities and public goods, social insurance programs, education policies, optimal taxation, income distribution, and government expenditures. Prerequisite: 501 and 508.

Overview of sustainable development concepts, models, and policy issues, with an emphasis on sustainable uses of all types of capital - physical, human, social, and environmental - in an international context. Prerequisite: 501 and 506.

Research problems. Student presentations of methodology and results. Research projects may be student-directed or undertaken in conjunction with regular and/or visiting faculty. Offered on a CR/NC basis only. Restriction: permission of instructor.

Faculty-supervised investigative study that results in the development and writing of a master’s thesis. Offered on a CR/NC basis only.

Faculty-supervised investigative study that results in the development and writing of a doctoral dissertation. Offered on a CR/NC basis only.