Department of Economics

Graduate Courses


ECON 501 Studies in Economic Problems: Variable Topics

3 hrs.
An examination of a selected area of concern not intensively covered in other courses. The focus of the course will be substantive as well as analytical. Topics may include such areas as poverty, the war industry, farm problems, misallocation of resources, welfare programs, unemployment, and others. May be repeated for credit with a different topic. Prerequisites: ECON 201 and ECON 202, plus 6 additional credit hours of economics or consent of instructor.


ECON 503 Economic Computing

3 hrs.
This course provides students with basic skills needed for gaining access to economics databases and for using data management programs on personal and mainframe computers. It provides instruction and lab experience in transferring files and performing operations widely employed by economists. Prerequisites: ECON 403 and ECON 406 or permission of instructor.


ECON 504 Mathematics for Economists

3 hrs.
This course presents the mathematical material necessary as background for the topics covered in granduate-level economics courses. Topics covered include differential calculus, optimization, comparative statics, and mathematical programming. These techniques are applied to selected economic problems. Prerequisites: ECON 201 and ECON 202, MATH 122 or consent of instructor.


ECON 507 Monetary Theory and Policy


3 hrs.
This course concentrates on the main elements of monetary theory and policy having to do with such problems as promoting economic growth, maintaining full employment and price stability, influencing the flow of capital into the various economic sectors with different possible social goals in mind, and stabilizing international trade and financial relationships. Prerequisites:
ECON 201, ECON 202, ECON 320 or ECON 406 plus three additional credit hours of intermediate level economics.


ECON 515 Economics of Human Resources


3 hrs.
The course will examine the development and utilization of manpower in the United States, including such topics as labor force components, contributors to productivity such as education, training, health and mobility, and issues of manpower policy. Prerequisites: ECON 201 and ECON 202.


ECON 525 State and Local Government Finance


3 hrs.
Practices, effects, and issues in state and local expenditure, taxation, and borrowing, with particular attention to property and sales taxation, to the financing of education and highways, and to intergovernmental fiscal relations. Prerequisites: ECON 201 and ECON 202.


ECON 588 Economic Development


3 hrs.
An analysis of the economic factors such as population, resources, innovation, and capital formation which affect economic growth. Selected underdeveloped areas will be studied to understand the cultural pattern and economic reasons for lack of development and the steps necessary to promote economic progress. Prerequisites: ECON 201 and ECON 202.

ECON 591, ECON 592 Guest Economist Seminar

  1 hr. Seminar series on a topic of current interest featuring invited visiting economists. Topics will vary and courses may be repeated. Prerequisites: ECON 201 and ECON 202. 

ECON 598 Readings in Economics

  1-3 hrs. An independent program of study for qualified students to be arranged in consultation with the instructor. Prerequisites: 12 credit hours of Economics and the consent of instructor and Department Chairperson.

ECON 600 Applied Economics for Management

  3 hrs. The course examines the relationship between the theory of the firm and recent developments in the area of operations research. Among the concepts and tools discussed are game theory, linear programming, capital budgeting, inventory theory, input-output analysis, price policy, and cost analysis. This course may not be taken for credit if a student has received credit for ECON 400.

ECON 602 Applied Economics

  3 hrs.
Emphasis will be placed on decision-making under conditions of uncertainty. Topics will include advanced material in linear programming, game theory, capital budgeting and forecasting. Prerequisite: ECON 600. 

ECON 603 Advanced Price Theory

  3 hrs.
An advanced study in the logic of the pure theory of production; joint production and joint costs, and introduction to the multiperiodic production theory. Advanced theory of consumer behavior; aggregation problems in product supply, factor demand and consumer demand analysis; review of selected empirical studies on consumer demand analysis; consumer surplus; problems involving optimization over time and under conditions of uncertainty; role of savings in consumer demand theory (utility maximization over time). Prerequisite: MATH 122 or equivalent. 

ECON 604 Introduction to Mathematical Economics


3 hrs.
This course is intended to introduce graduate students to the concepts of multivariate calculus and mathematical analysis commonly used in the mathematical analysis of economic problems. Its primary objective is to teach students the rudiments of mathematical programming as they apply to economic theory. Thus, students will also be introduced to selected topics from consumer theory and the theory of the firm. Prerequisites: MATH 122, MATH 123 or equivalents.

ECON 605 History of Economic Thought


3 hrs.
A survey of the origins and development of economic analysis from the Ancient Greeks to the present. Focuses upon the development of important schools of thought, their analytical contributions, and the significant figures in the history of economics. Prerequisites: ECON 403, ECON 406 or equivalents.


ECON 607 Uncertainty and Information


3 hrs.
Analysis of individual decision making and market equilibria under conditions where economic agents are unsure about their own situations and/or the opportunities offered them by market dealings. Topics covered include expected utility, decisions to produce and acquire information, information and contract design, and the effect of information in situations of strategic economic interaction. Prerequisite: ECON 504 or ECON 603.


ECON 609 Seminar in Economics


3 hrs.
Offers the graduate an opportunity to investigate contemporary problems in economic theory and analysis. Prerequisite: Four hours of advanced economic theory or consent of instructor. Topics will vary, and course may be repeated. 

ECON 610 Human Resources I


3 hrs.
This course is an introduction to human resource economics. Its objective is to provide students with the theoretical background needed to undertake studies relating to human resource and labor problems. Thus, this course will present a general survey of the theory that forms the core of modern labor economics. Prerequisite: ECON 603 or equivalent. 

ECON 611 Human Resources II


3 hrs.
This course is the second course in a two course sequence required for the Ph.D. field in human resource economics. The objective of this course is to apply theory and quantitative methods to various topic areas in human resource and labor economics, such as discrimination, employment and training policies, income distribution, turnover and migration, unions and collective bargaining, and household production and family decisions. Prerequisite: ECON 610. 

ECON 269 Collective Bargaining in Public Employment


3 hrs.
This course examines collective bargaining developments in local, state, and federal governments, including bargaining units, negotiations, grievance procedures, strikes, and dispute settlements. Prerequisites: ECON 201 and ECON 202 or consent of instructor. Not open to Economics graduate students. 

ECON 617 Economics of Health and Human Services


3 hrs.
Economic problems of health and human services will be considered. Alternative policy solutions are viewed from the economist's point of view. Prerequisites: ECON 201 and ECON 202 or consent of instructor. Not open to Economics graduate students.


ECON 619 Introduction to Econometrics


3 hrs.
This course is an introduction to econometric models and their use in economic analysis. The course covers multiple reqression models, the implications and treatment of serial correlation and heteroskedasticity. Prerequisite: ECON 622 or equivalent.

ECON 620 Economic Forecasting

3 hrs
This course covers the construction, evaluation, and presentation of econometric forecasts. Students are taught to model and forecast economic data which contain trend, seasonal, and cyclical components. Both univariate and multivariate forecasting techniques are examined. A forecasting project is required of each student. Prerequisite: ECON 619 or equivalent.

ECON 622 Economic Statistics

  3 hrs.
This course focuses on the theory and practice of testing hypotheses, statistical estimation theory, the basic theory underlying the linear model, and introduction to econometric models, and the nature and difficulties which arise in applying statistical models to economic research problems. Prerequisites: MATH 122 or equivalent, ECON 402 or equivalent. 

ECON 624 Public Finance I

  3 hrs.
This course is devoted to a study of welfare and public sector economics. The objective is to acquaint students with the framework used by economists to analyze and evaluate public policy. Prerequisite: ECON 603 or equivalent. 

ECON 625 Public Finance II

3 hrs.
Selected topics from public sector economics will be presented. Foremost among these is benefit-cost analysis. Thus, consumers' surplus, the social discount rate, and decision making under uncertainty are other topics that will be covered regularly. The main purpose of this course is to provide students with the background necessary to conduct research in public finance. Prerequisites: ECON 624, ECON 665.

ECON 650 Industrial Organization/Business Economics I

  3 hrs.
This course will survey the major topics in industrial organization, antitrust economics, and the economics of regulation. Prerequisite: ECON 603 or equivalent. 

ECON 651 Industrial Organization/Business Economics II

  3 hrs.
This course will cover selected topics in industrial organization, antitrust economics, and the economics of regulation. Prerequisites: ECON 650, ECON 665. 

ECON 662 National Income Analysis

  3 hrs.
A basic course in economic theory with emphasis on modern theories of output of the economy as a whole and on the uses of these theories as guides to policy. Prerequisites: ECON 403 and ECON 406.

ECON 665 Microeconomic Theory I

  3 hrs.
Core ideas in theoretical microeconomics will be introduced. The course will address a number of standard microeconomic topics, including the theories of consumption and production, cost and expenditure functions, market structures, and input demand. Prerequisites: MATH 122, MATH 123 or equivalents.

ECON 666 Microeconomic Theory II

  3 hrs.
This course presents an advanced treatment of consumer and producer theory. It will be composed of selected topics in microeconomic theory, including general equilibrium and welfare analysis. Prerequisites: ECON 604, ECON 665.   

ECON 670 Advanced Econometrics

3 hrs.
The second course in the Econometrics sequence. A comprehensive survey of identification, estimation, and hypothesis testing in the context of simultaneous equations models. Prerequisites: ECON 604, ECON 619.


ECON 671 Advanced Econometrics II

3 hrs.
This is the second course in the advanced econometrics sequence. This course considers the specification and evaluation of dynamic econometric models. Both single and multiple time series models are examined. The issue of nonstationarity and the role of vector autoregressions and conintegration are emphasized. Prerequisite: ECON 670.


ECON 675 Macreconomic Theory I

  3 hrs.
This course develops a general equilibrium macroeconomic model reflecting the recent developments in the literature. Prerequisites: MATH 122, MATH 123 or equivalents.

ECON 676 Macroeconomic Theory II

  3 hrs.
The second course in the Ph.D. level macro sequence. A rigorous analysis of macro theory and macro policy issues with an emphasis on empirical testing. Prerequisites: ECON 604, ECON 675. 

ECON 680 International Economics I

  3 hrs.
In this course the interaction of the domestic economy with the international financial world will be studied. Topics include: Exchange rate determination, balance of payments, and the international monetary system. Prerequisites: ECON 622, ECON 662 or equivalents. 

ECON 681 International Economics II

3 hrs.
This course examines the reasons for and implications of international trade. Topics include: Models of international trade, policies used to influence trade and the welfare effects of international trade polices. Prerequisite: ECON 603 or equivalent.


ECON 686 Monetary Economics

3hrs.
In this course the interaction between macroeconomic activity and the quantity of money in the economy is studied. Both theoretical and empirical models are examined. Topics include empirical evidence on money and output, money and tranactions, money and procedures, and interest rates and monetary policy. Prerequisites: ECON 619 and ECON 676 or equivalent.


ECON 688 Economic Development I

3 hrs.
An intensive examination of a number of selected key topics in development economics, centering on issues of crucial importance to developing nations. Examples of such issues are primary products, capital formation, technological change, inflation, debt servicing, population, etc. Prerequisites: ECON 201 and ECON 202. 


ECON 689 Economic Development II

  3 hrs.
This course will concentrate on analysis of development theory and examine its relevance to the problems facing extant developing economies. Different approaches to economic development will be examined using advanced economic theory and methodology. Prerequisites: ECON 665, ECON 675, ECON 688.  

ECON 699 Economics Workshop

  3 hrs.
A workshop designed to deepen a student's understanding of theoretical and empirical economics by discussing the research being conducted by the Department's faculty, economists from other institutions, and Ph.D. candidate graduate students. Prerequisites: ECON 666, ECON 670, ECON 676. Topics will vary and course may be repeated.   

ECON 700 Master's Thesis

  1-6 hrs. 

ECON 710 Independent Research

  2-6 hrs.

ECON 712 Professional Field Experience

  2-12 hrs. 

ECON 730 Doctoral Dissertation

  1-15 hrs.  

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Department of Economics, College of Arts & Sciences
5307, Friedmann Hall, 1903 West Michigan Avenue
Western Michigan University, Kalamazoo MI 49008
Phone: (269)-387-5535 Fax: (269)-387-5637
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