Not for major credit. Scope of economics and the task of the economist in modern society; the market economy- it's evolution and development; non-market economies; economics problems and prospects in the contemporary world. (T)
Introduction and application of main tools used by economists in analysizing current issues in the North American economy. Differences in the labor market in the three countries and the effect of international trade on these labor markets. Special attention to the effect of this integration on economy of the Detroit area. (T)
Supply, demand, price at the level of the firm and industry; business institutions and their operation; determinants of wage and salary levels, interest rates, rent profits, income distribution; public policy in relation to business and labor. (T)
Determination of national income, consumption and saving, and investment; money, banking and the Federal Reserve; inflation and unemployment; monetary and fiscal policy; economic growth and productivity; the international sector. (T)
The following courses, numbered 5000-9999, are offered for graduate credit. Courses numbered 5000-6999 which are offered for undergraduate credit only may be found in the undergraduate bulletin, as well as all other undergraduate courses (numbered 0900-4999). Courses in the following list numbered 5000-6999 may be taken for undergraduate credit unless specifically restricted to graduate students as indicated by individual course limitations.
Prereq: ECO 2010, MAT 1500 or MAT 1800 or equiv. based on satisfactory score on mathematics placement examination. Theory of the firm and consumer. Analysis of a price system as a means to efficient allocation of productive resources. (T)
Prereq: ECO 5000 and MAT 2010 or MAT 5010 or equiv. ECO 5020 offered for undergraduate credit only; ECO 7020 offered for graduate credit only. Basic mathematical methods applied to economic analysis, including applications of differential and integral calculus, analytical geometry, and linear algebra. Problems used to illustrate applications in microeconomics and macroeconomics. (F)
Prereq: ECO 2020, MAT 1500 or MAT 1800 or equiv. based on satisfactory score on mathematics placement examination. Theory of national income determination. National output and income, saving and capital formation. (T)
Prereq: ECO 5000 or equiv.; MAT 2010 or equiv. Introduction to the theory of consumer choice and the theory of production, and other selected topics. Primarily for M.A. students and for Ph.D. students who want to review. (F)
Prereq: ECO 5050 or equiv. No credit after ECO 7050. Determination of national income, unemployment and interest rates; theories of inflation; effectiveness of macroeconomic public policies. Primarily for M.A. students and for Ph.D. students who want to review. (W)
No major or minor credit in economics. Basic tools of microeconomic analysis; decision-making by individuals, firms (including government regulation), collectivities (including benefit-cost analysis). Application of analysis to areas of public administration, such as: aging, health care, education, pollution, discrimination, income stabilization, industrial policy, other long-term policy issues. (S)
Prereq: ECO 5000, 7020; MAT 2010 or MAT 5010 or equiv. Theory of choice; theory of cost and production; theory of the competitive firm. Price and output in non-competitive markets. General competitive equilibrium and welfare economics. (W)
Prereq: ECO 7000. Continuation of ECO 7000. (F)
Prereq: ECO 5000 and MAT 2010 or MAT 5010 or equiv. ECO 5020 offered for undergraduate credit only; ECO 7020 offered for graduate credit only. Basic mathematical methods applied to economic analysis, including applications of calculus, analytical geometry, and linear algebra. Problems to illustrate applications in microeconomics and macroeconomics. (F)
Prereq: ECO 5050 or equiv. Determination of national income, employment, interest rates and the price level; static and dynamic models; cycle and growth models; classic, Keynesian and neo-Keynesian models. (F)
Prereq: ECO 7050 or equiv. Continuation of ECO 7050. (W)
Prereq: completion of qualifying examinations in economic theory. Offered for S and U grades only. Evaluations of proposed and current research in micro- or macroeconomic theory, or both. Topics to be announced in Schedule of Classes . (T)
Prereq: ECO 2010, 2020; MAT 1500 or MAT 1800 or equiv. based on satisfactory score on mathematics placement examination. Preliminary data analysis; simple regression; multiple regression; probability and statistics; inference in multiple regression; generalized regression. (T)
Prereq: ECO 5050 and 5100 or consent of instructor. Application of statistics and mathematics to the quantitative analysis of the position of and changes in the economy as a whole. Typical problems formulated as testable hypotheses. Models of the economy analyzed. (F)
Prereq: ECO 6100 or consent of instructor. Applications of econometrics in structural analysis. Use of econometric, extrapolative, and univariate time series models in forecasting. Examples may include forecasting interest rates, price levels, GNP, participation rates, and levels of demand. (W)
Prereq: MAT 1800 or equiv. or consent of instructor. Open only to Law students. Application of statistics and economic analysis to issues arising in the legal system and the practice of law. Topics include: descriptive statistics, elements of probability, regression, and price theory. (W)
Prereq: ECO 7020 or consent of instructor. Probability; random variables, frequency distributions; hypothesis testing, estimation and properties of estimators. Estimating the classical linear model using ordinary least squares, maximum likelihood, and best linear unbiased estimators. Best linear unbiased estimators when relaxing classical assumptions. (F)
Prereq: ECO 7100 or consent of instructor. Autocorrelation, heteroscedasticity, Koyck and Almon distributed lag models, multicollinearity, specification analysis, testing the equality of sets of coefficients, dummy variables, pooling of time series and cross-section data, error in variable models, mixed estimation, missing observations, grouping of data. Simultaneous equation systems. (W)
Prereq: ECO 2010. Monopoly, oligopoly, and competition in U.S. industry; sources of market power and their effect on prices, profits, and technological progress, as illustrated by such industries as steel, automobiles, petroleum, retailing, or prescription drugs. Selected topics in antitrust policy. (Y)
Prereq: ECO 2010. Economic analysis of property rights, torts, contracts, criminal law, the law of business organizations and financial markets, and the law of taxation. Economic analysis of litigation; the use of economics and statistics in litigation. (Y)
Prereq: ECO 6000 or consent of instructor. Theories of competition and market power. Topics include concentration, scale economies, product differentiation, entry barriers, collusion, mergers, price discrimination, information, and advertising. (B)
Prereq: ECO 6000 or consent of instructor. Economic analysis of antitrust policy and public regulation of industry. Rationale for regulation and mandates of various regulatory agencies. Problems in public utility rate-making. Misallocations induced by regulation. Role of competition in regulated industries. (B)
Prereq: completion of qualifying examination in industrial organization. Offered for S and U grades only. Evaluations of proposed and current research in industrial organization. (T)
Prereq: ECO 2010. Factors in international economic relations; patterns of international specialization; balance of international payments; foreign exchange; commercial policy of the United States and other countries; foreign investment and economic development; international economic cooperation. (F)
Prereq: ECO 2010. Major policy issues in the field of international finance with emphasis on open economy macroeconomics. Topics include the balance of payments and the foreign exchange market; monetary and fiscal policies in open economies; the floating exchange rate system; international financial markets; the European monetary system; the Third World debt problem; and proposals to reform the international monetary system. (W)
Prereq: ECO 6000 or consent of instructor. The theory of international trade and commercial policy: classical and modern models of the determinants of international trade and their empirical verification; welfare aspects of trade and trade intervention; customs union theory; effective protection. (B)
Prereq: ECO 6000 or consent of instructor. Foreign exchange rate and balance of payments adjustment theory under alternative exchange rate regimes; stabilization policies in open economies; financial capital movements; monetary unions; economic growth and the balance of payments. (B)
Prereq: completion of qualifying examination in international economics. Offered for S and U grades only. Evaluations of proposed and current research in international economics. (T)
Prereq: ECO 2010 or consent of instructor. Development of the American labor movement; its behavior in the contemporary scene. Labor's experiments with social, political, legal, and economic institutions. Comparisons with foreign labor movements. (B)
Prereq: ECO 2010. Labor supply; causes of and remedies for unemployment; labor mobility and the operation of labor markets; productivity and real wages; wage determination; human capital, income distribution, and economic development; poverty and its causes; economic impact of collective bargaining. (Y)
Prereq: ECO 2010 or graduate standing. Overview of labor force trends; U.S. unionism; management of labor relations; collective bargaining: procedure and substance; bargaining power in the private and public sectors. Comparative trends and principles in industrial relations systems of other societies also examined. (F,S)
Prereq: ECO 5000 and 5050 or consent of instructor. Labor force participation and composition; factors affecting wage levels (money and real) and wage structure. Theoretical and empirical analyses of occupational choice, labor mobility, and income inequality. (B)
Prereq: ECO 6000 and 6100 or consent of instructor. Theoretical and empirical analyses of aggregate labor supply and demand and of investment in human capital. Evaluation of education, manpower, health, and welfare programs. (B)
Prereq. for MAIR students: all core courses, must be taken in last nine credits of program. Open only to M.A.I.R. students. Strategic labor and human resource analysis in the micro (game theory) and macro (planning) levels. Integration of MAIR program skills. Student teams work as consultants for a client organization on a strategic labor or human resource problem. (W)
Prereq: completion of qualifying examination in labor and human resources economics. Offered for S and U grades only. Evaluations of proposed and current research in labor and human resources economics. (T)
Prereq: ECO 2010 or consent of instructor. Role of government in a market economy: sources of market failure-public goods and externalities; principles of taxation and expenditures; tax incidence; federal tax structure; selected government expenditure programs. (S,F)
Prereq: ECO 2010 or consent of instructor. Decision-making process of government; cost benefit analysis; voting rules-majority voting and alternatives; theories of representative democracy; theory of bureaucracy; theory of rent seeking; government as Leviathan. (W)
Prereq: ECO 2010. Allocation of health care resources, with respect to demand and supply of health care. Roles of hospitals, physicians, and health insurance; market imperfections and their role in economics of health care. (Y)
Prereq: ECO 6000 or consent of instructor. No credit after ECO 5550. Offered for four credits only to economics students. Analytically rigorous examination of the allocation of health care resources. Additional analyses of the economics of information and the role of advertising.Required of all M.S. students in Community Health Services program. (B)
Prereq: ECO 6000 or consent of instructor. No credit after ECO 5550. Particular roles of hospitals, physicians, and health insurance. Analysis of government policies. (B)
Prereq: completion of qualifying examination in public finance. Offered for S and U grades only. Evaluations of proposed and current research in public finance. (T)
Prereq: graduate standing. Examination of regional, state, and local economic development theory, analysis, policy and administration.
(B)
Prereq: ECO 2010. Role of the Federal Reserve System, the commercial banks, and the non-bank public (including financial intermediaries) in determining the money supply; central banking and techniques of monetary control; indicators and targets of monetary policy; and how money affects economic activity. (F,W)
Prereq: ECO 6000 or consent of instructor. Objectives, mechanisms, economic effects of alternative monetary and banking policies; interrelations of the latter with fiscal policies. Recent American and foreign experience, proposed changes in domestic monetary and banking structure, relation of monetary and banking structures, relation of monetary policy to business fluctuations, problems arising from the International Monetary Fund and Bank. (B)
Prereq: ECO 6000 or consent of instructor. Development of monetary theory; present theories of relations between money, prices, and national income; methods of monetary control employed by government authorities; current controversies. (B)
Prereq: completion of qualifying examination in monetary economics. Offered for S and U grades only. Evaluations of proposed and current research in monetary economics. (T)
Prereq: ECO 2010 or consent of instructor. Introduction to the economic foundations of urban problems; land use, housing, poverty, transportation, local public finance; regional industry mix, income, growth and development; the national system of cities and location of firms. (Y)
Prereq: graduate standing; upper division undergraduates by consent of instructor. Examination of the economic, social and political transformation of U.S. cities; particular attention to the formation, dynamics, economics and social sub-systems of urban ghettos and their relationship to broader contexts. (B)
Prereq: ECO 6000 or consent of instructor. The city as an economic system, including rents, prices, and locations of activities. Monocentric and polycentric models. Topics include housing and real estate, industrial location, and racial segregation and discrimination. Economic theory and empirical applications will be presented. (B)
Prereq: ECO 6000 or consent of instructor. Spatial competition (equilibrium prices and locations of firms or stores). Theory of public goods. Externalities. Taxation from the standpoint of efficiency and income distribution. Effects of taxation on labor supply and savings. Theoretical and applied models of local public finance. Tax competition between local governments. Transportation economics. (B)
Prereq: consent of departmental adviser. Open only to students admitted to Salford-WSU Exchange Program. Directed study at University of Salford, England. (F,W)
Prereq: consent of adviser. Open to area high school teachers. Designed for Detroit-area high school teachers and covering material taught in high school: micro- and macroeconomic concepts, urban issues, international economics; methods for teaching economics. (T)
Prereq: consent of adviser. Open to qualified students who desire opportunity for research and directed study. May be conducted as seminar. (T)
Prereq: consent of adviser. (T)
Prereq: consent of adviser. (T)
Prereq: consent of doctoral adviser. Offered for S and U grades only.
(T)