This course develops fundamental economic theory using differential calculus and linear algebra and emphasizes the methodology of constructing and applying appropriate models in quantitative analysis with an emphasis on static and dynamic optimization. Restriction: admitted to M.A. Economics or Ph.D. Economics or permission or instructor.

Micro foundations of macroeconomics. Introduction to dynamic macroeconomics; optimal economic policy; and theories of economic growth. Restriction: admitted to M.A. Economics or Ph.D. Economics.

Theory and applications: ordinary and generalized least squares, hypothesis testing, dummy variable and distributed lag models; simultaneous equation and two stage least square models; forecasting. Emphasis on computer modeling. Prerequisite: 508.

Competitive equilibrium and welfare economics. Topics from imperfect competition, decision making under uncertainty, introduction to game theory and distribution theory. Prerequisite: 501 and 504.

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 572) Practical aspects of the different technical models used by water resources professionals; hydrological, economic, ecological, etc. Students use models to solve problems. Emphasis on oral, written and graphic communication. Prerequisite: (2120 or 300) and (CE 541 or CE 542 or EPS 562 or WR 576) and WR 571.

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.

Role of foreign direct investment, foreign aid, remittances, and other financial flows for economic development and growth. Causes and consequences of currency and financial crises in developing countries. Balance of payments problems, international debt, and structural adjustment programs. 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.