Graduate Programs
Graduate Courses Offered

ECON 500 Economics: Principles and Institutions 3hrs
Study of major economic institutions, and the basic analytic tools of economic theory and their use. Not open to students who have had ECON 201 and ECON 202.

ECON 501 Macroeconomic Theory and Policy 3hrs
National income analysis, employment theory, monetary theory and practice,
and their application to economic policy. Not open to students who have had
ECON 301.
Prereq: Any one 100, 200, 300 or 400-level course in economics and MATH
104, or equivalent.

ECON 502 Microeconomic Theory and Policy 3hrs
Analysis of the economic behavior of individuals and firms under various market conditions, the determination of relative prices, the allocation of resources, and related problems. Not open to students who have had ECON 302. Prereq: Any one 100, 200, 300 or 400 level course in economics and MATH 104, or equivalent.

ECON 504 Consumer Economics 2&Mac251;hrs
Current economics and consumer economics concepts and issues. Topics include basic economic concepts, the Michigan Standards and Benchmarks for Economics Instruction in public schools, consumer credit issues, understanding monetary and fiscal policies, and international economics. The course is de-signed to serve individuals who are now teaching or expect to be teaching con-sumer economics units in K-12 settings. Not open to economics majors.

ECON 508 International Trade 3hrs
A study of the causes and economic effects of trade; commercial policies and their effects on trade; trade issues and conflicts; and international factor move-ments.
Prereq: ECON 501 and ECON 502.

ECON 509 International Monetary Economics 3hrs
A study of the foreign exchange market, exchange rate systems, the balance of payments, macroeconomic aspects of international trade, and the institutions and problems of the international monetary system.
Prereq: ECON 501 and ECON 502.

ECON 511 Mathematical Economics 3hrs
Study of economic models, matrix algebra and linear economic models, linear programming and game theory, optimization problems and calculus of variations.
Prereq: MATH 119 or MATH 120, and ECON 301 and ECON 302, or equivalent.

ECON 515 Econometrics: Theory and Applications 3hrs
Study of simultaneous-equation systems: structured, reduced and final-form models; the analysis of univariate and multivariate time-series models; the de-velopment of estimation and forecasting techniques, and dynamic simulation; and the use of models for policy issues.
Prereq: ECON 415 or equivalent.

ECON 520 Analytic Labor Economics 3hrs
The course analyzes the supply and demand of labor, labor market equilibrium, including compensating wage differentials, investment in human capital, worker mobility, as well as wage inequality, labor unions and racial/gender discrimination.
Prereq: ECON 301 and ECON 302, ECON 415 or equivalent.

ECON 536 Advanced Health Economics 3hrs
An analytical approach to the study of medical care services. Emphasis is on the application of economic and statistical concepts and techniques in the analysis of health care issues and problems. Current health care policy issues and recent changes in medical markets are examined.
Prereq: ECON 415 and ECON 436, or equivalent.

ECON 540 Monetary Economics 3hrs
The development of monetary and central banking theory; policy applications and limitations in the context of the relationships among money, prices, national income and the balance of payments.
Prereq: ECON 301 or equivalent.

ECON 545 Economic Forecasting and Policy 3hrs
Examines the use of macroeconomic theory and forecasting techniques in the formulation and evaluation of economic stabilization policies.
Prereq: ECON 301 and ECON 310, or equivalent.

ECON 561 Economics of Multinational Enterprise 3;hrs
Economics of international competition and monopoly. Analysis includes stud-ies of direct foreign investment, national economic antitrust policies, and the multinational firm and its relation to trade and economic efficiency.
Prereq: ECON 301 and ECON 302, or equivalent.

ECON 580 International Trade: Theory and Policy 3hrs
This course analyzes the classical and modern theories of the determination of the pattern of commodity trade between nations fundamental trade theories, as well as the impact of tariffs on trade. Topics include the Ricardian and Heckscher-Ohlin trade theories, as well as the interaction of international trade with migration.
Prereq: ECON 301 and ECON 302, ECON 415 or equivalent.

ECON 581 The International Monetary System 3hrs
Theoretical and empirical examination of international monetary issues includ-ing the balance of payments, fixed versus flexible exchange rates, stabilization policies in an open economy, disturbance transmission mechanisms and inter-dependence, institutions.
Prereq: ECON 301 and ECON 302, and equivalent.

ECON 585 Economic Growth and Development 3hrs
Conditions, courses, and consequences of growth and development; instruments of expansion and control, and important theories and models of growth. Eco-nomic growth in both the United States and underdeveloped countries.
Prereq: ECON 301 and ECON 302, or equivalent.

ECON 590/591/592 Special Topics 1/2/3hrs
An advanced-level course in a specific area of economics. Not more than six
hours of special topics may be used on a degree program.
Prereq: ECON 301 and ECON 302, or equivalent.

ECON 597/598/599 Independent Study 1/2/3hrs
An intensive study of a problem or group of problems under the direction of a member of the economics faculty.
Prereq: Department permission.

ECON 601 Macroeconomic Analysis 3hrs
Study of theoretical and empirical examination of macroeconomic theories of the determination of income, employment, the price level, interest rates, and economic growth in a domestic and world economy. The course may include the Classical, Keynesian, Monetary, Rational Expectations, and Real Business Cycle schools of thought.
Prereq: ECON 301 and ECON 302, or equivalent. Coreq: ECON 415 and ECON 511 .

ECON 602 Microeconomic Analysis 3hrs
Economic analysis of the behavior of individuals and firms, price determination in competitive and monopolistic markets, general static equilibrium, and the allocation of resources.
Prereq: ECON 302 and ECON 511 .

ECON 604 Research Seminar in Economics 3hrs
Examines selected issues of research methodology, procedures and techniques. Students conduct individual research projects, present their findings in a semi-nar format, and submit a research paper.
Prereq: ECON 415 or equivalent.

ECON 605 Managerial Economics 3hrs
Application of economic analysis to decision making and business management, focusing on the areas of production and cost, as well as investment, pricing, demand estimation, and economic forecasting.
Prereq: ECON 310 or equivalent, ECON 501, and ECON 502.

ECON 606 Applied Economics 3hrs
Integrates economic theory and quantitative methods, providing tools to formu-late, estimate and evaluate micro- and/or macroeconomic topics. These may include: estimating demand functions for given periods, Engel curves, produc-tion cost, consumption, investment, and money demand functions.
Prereq: ECON 301, ECON 302 and ECON 415, or equivalent.

ECON 679/680/681 Special Topics 1/2/3hrs
An experimental course for contemporary topics not provided in other departmental offerings. The content will change from semester to semester. Not more than three hours of special topics may be used on a degree program.

ECON 686/687/688 Cooperative Education 1/2/3hrs
Four to six months of part- or full-time employment in a position in business, finance, government or labor that uses economic analysis. (See the Career Ser-vices Center for the availability of such positions.) The student and a faculty spon-sor from the Department of Economics agree on a co-op activity, subject to the approval of the director of graduate programs in economics. A written report at the end of the employment period documents the use of economic analysis in the co-op position. Offered on a credit/no credit basis. The credit does not apply to the economic major. Maximum number of co-op experiences is two.
Prereq: Department permission.

ECON 690/691/692 Thesis 1/2/3hrs
Completion of research problems and writing thesis.
Prereq: Approved thesis proposal.

ECON 697/698/699 Independent Study 1/2/3hrs
An intensive study of a problem or group of problems under the direction of a member of the economics faculty.

Undergraduate courses for graduate credit
The following courses may be elected for graduate credit; course descriptions may be found in the undergraduate catalog. A maximum of nine hours of approved 400-level course work may be permitted in the earning of any graduate degree.

If you intend to enroll in any of the following undergraduate courses for graduate credit, you must submit a request form from the Graduate School to receive permission before enrolling in the course; otherwise, you will receive undergraduate credit.

  • ECON 405 Economic Analysis for Business (3)
  • ECON 415 Introduction to Econometrics (3)
  • ECON 420 Comparative Labor Unionism (3)
  • ECON 436 Health Economics (3)
  • ECON 445 Economic Fluctuations and Forecasting (3)
  • ECON 455 Cost-Benefit Analysis (3)
  • ECON 460 Industrial Organization (3)
  • ECON 480 International Economics (3)
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Graduate Programs