Introduction to the economic problem and the study of economics; basics of supply and demand; introduction to concepts and models used to understand the business cycle (fluctuations in national income and employment) and inflation; basics of international finance.

A study of financial institutions and markets and of monetary theory. Prerequisite: ES212.

Study of the theoretical models used to understand business cycles and inflation and to evaluate fiscal and monetary policy. Prerequisite: ES211, ES212.

A study of the fundamental principles of international economic relations. Subjects covered include the economic basis for international specialization and trade, the economic gains from trade, trade policies, economic blocs, and the international financial system. Prerequisite: ES211, ES212.

Public Sector Economics is the study of tax and expenditure policy and theory. Public goods (education, infrastructure, etc.) require unique funding mechanisms to induce economic efficiency. Public sector economics is the study of these mechanisms. Beginning with a treatment of the median-voter model and utility maximization, the course charts a robust discussion of the interaction between government and citizen as taxes are collected, revenues are spent, and the efficiencies/inefficiencies of these mechanisms are uncovered. The course will focus on both the theoretical foundations of public sector economics and what the empirical research as to say about theory.Prerequisites: E211 and ES212 An understanding of algebra is mandatory and an understanding of calculus will be beneficial.

Individually negotiated project of defined nature established by contract between instructor and student. Contracts filed with Registrar. Prerequisite: Approval of the department chairperson.

Introduction to Econometrics offers a general introduction to econometric methodology. The course begins with the classical linear regression model. After analyzing the properties of the simple and multivariate regression models, we will delve into a richer class of models to deal with endogeneity, such as IV-regression, and 2SLS-regression. At this point, we will switch gears, and learn basic techniques of time-series data. All topics in the class will be analyzed in two contexts: theory and application. That is, after analyzing the theoretic properties of estimators, we will then apply them to real-life examples and data sets, with emphasis on both visualization and interpretation. The semester will conclude with group projects. Prerequisites ES211, ES212, MS110 or MS111, and MS151 or higher level statistics course.