IUPUI Campus Bulletin 2017-2018

Honors Courses

• ECON-S 201 Introduction to Microeconomics: Honors (3 cr.) Designed for students of superior ability. Covers the same core materials as E201. PUL=5

• ECON-S 202 Introduction to Macroeconomics: Honors (3 cr.) Designed for students of superior ability. Covers the same core materials as E202. PUL=5

• ECON-S 270 Introduction to Statistical Theory in Economics and Business: Honors (3 cr.) P: MATH M118 or MATH M119 or MATH 15900 or C: MATH M119 or MATH 15900 Covers the same core materials as E270 but with more involved applications in economics. PUL=1

Non-Honors Courses

• ECON-E 101 Survey of Current Economic Issues and Problems (3 cr.) For nonmajors only. A combined course in macroeconomics and microeconomics for non-majors only. Explains macroeconomic concepts such as economic growth, unemployment, inflation, and GDP. Explains microeconomic concepts such as demand/supply and market structures. Will cover personal finance and applied topics such as international, labor markets, health care, pollution. PUL=5

• ECON-E 111 Topics in the Economic History of Western Civilization I (3 cr.) Selected topics in the economic history of Western civilization, including the growth of the market organization, industrialization, institutional growth and change, imperialism, and labor. PUL=5

• ECON-E 112 Topics in the Economic History of Western Civilization II (3 cr.) Selected topics in the economic history of Western civilization, including the growth of the market organization, industrialization, institutional growth and change, imperialism, and labor. PUL=5

• ECON-E 201 Introduction to Microeconomics (3 cr.) P: Sophomore standing. An analysis of evolution of market structure using the analytical concepts of supply and demand, opportunity cost, and marginal analysis.  Applications include a variety of concurrent microeconomic issues. PUL=5

• ECON-E 202 Introduction to Macroeconomics (3 cr.) P: ECON-E 201. An introduction to macroeconomics that studies the economy as a whole; the levels of output, prices, and employment; how they are measured and how they can be changed; money and banking; international trade; and economic growth. PUL=5

• ECON-E 270 Introduction to Statistical Theory in Economics (3 cr.) P: MATH-M 118. Review of basic probability concepts, sampling, inference and testing statistical hypotheses. Applications of regression and correlation theory, analysis of variance and elementary decision theory. PUL=1

• ECON-E 303 Survey of International Economics (3 cr.) P: ECON-E 201-E202. Survey of international economics. Basis for and effects of international trade, commercial policy and effects of trade restrictions, balance of payments and exchange rate adjustment, international monetary systems, and fixed vs. flexible exchange rates. Students who have taken ECON-E 430 many not enroll in ECON-E 303 for credit. PUL=5

• ECON-E 304 Survey of Labor Economics (3 cr.) P: ECON-E 201. Economics problems of the wage earner in modern society; structure, policies, and problems of labor organizations; employer and governmental labor relationships. PUL=5

• ECON-E 305 Money and Banking (3 cr.) P: ECON-E 201-E202. Monetary and banking system of the U.S. The supply and control of money. The impact of money on the U.S. economy. Topics in the application of Federal Reserve monetary policy. Analytical treatment of the Federal Reserve system and the commercial banking industry.. PUL=5

• ECON-E 307 Current Economic Issues (3 cr.) P: ECON-E 201 or permission of instructor. This is a variable-topics course. The topic for a particular section is determined by the Economics department and the instructor. Recent topics include applied microeconomics, health economics, history of economic thought and mathematical economics. The instructor may have recommendations about preparatory courses.

• ECON-E 308 Survey of Public Finance (3 cr.) P: ECON-E 201-E202. Analysis of government expenditures and revenue sources, taxation and capital formation, public debt and inflation, growth in government spending, and intergovernmental fiscal relations. PUL=5

• ECON-E 321 Intermediate Microeconomic Theory (3 cr.) P: ECON-E 201-E202, MATH-M 119. The economics of consumer choice. The economics of production, cost minimization and profit maximization for business firms in the short run and long run under various market structures. Competition and adjustment to market equilibrium. Introduction to game theory, strategic interaction, and noncooperative equilibria. PUL=5

• ECON-E 322 Intermediate Macroeconomic Theory (3 cr.) P: ECON-E 201-E202. Theory of income, employment, and price level. Study of countercyclical and other public policy measures. National income accounting. PUL=5

• ECON-E 323 Urban Economics (3 cr.) P: ECON-E 201-E202. Introduction to basic concepts and techniques of urban economic analysis to facilitate understanding of urban problems; urban growth and structure, poverty, housing, transportation, and public provision of urban services. PUL=5

• ECON-E 325 Comparative Economic Systems (3 cr.) P: ECON-E 201-E202. Essential economic theories and features of economic systems, including private enterprise, authoritarian socialism, and liberal socialism. PUL=5

• ECON-E 326 Applied Research in Urban Economics (3 cr.) P: ECON-E 201-E202 or permission of instructor. Field research in urban economics. Topics to be selected by students, covering such areas as human resource problems, transportation and housing surveys, demographic shifts, and income distribution issues. PUL=5

• ECON-E 335 Introduction to Mathematical Methods in Economics (4 cr.) P: ECON-E 201-E202, MATH-M 118-M119. Introduction to quantitative techniques used in economics, and instruction in the application of these techniques to the analysis of economics problems. PUL=1

• ECON-E 337 Economic Development (3 cr.) P: ECON-E 201, ECON-E 202, and junior standing or consent of instructor. Characteristics of economically underdeveloped countries. Obstacles to sustained growth; planning and other policies for stimulating growth; examination of development problems and experience in particular countries. PUL=5

• ECON-E 355 Monetary Economics (3 cr.) P: ECON-E 305 or ECON-E 322 or equivalents. Supply and demand functions for money in the context of models of the U.S. economy. Formulation of Federal Reserve policy decisions and effects on interest rates, prices, output, and employment. Current problems in monetary policy and theory. PUL=5

• ECON-E 363 Environmental and Natural Resource Economics (3 cr.) P: ECON-E 201-E202. Basic theory and policy of such topics as pollution, resource depletion, environmental risk, and resource conservation. Issues covered include limits to growth, quality of life, and the appropriate roles for the private market and federal control. Credit not given for both ECON-E 363 and ECON-E 463. PUL=5

• ECON-E 380 Law and Economics (3 cr.) P: ECON-E 201 or permission of instructor. The application of economic method to legal institutions and legal issues. Examples would be the optimum use of resources to prevent crime, the economic value of a human life, the economic consequences of regulating the business firm, the economics of property rights, torts, and contracts. PUL=5

• ECON-E 385 Economics of Industry (3 cr.) P: ECON-E 201 or permission of instructor. A theoretical and empirical analysis of the structure, conduct, and performance of major American industries. Emphasized is the degree of competition in various markets, how markets operate under conditions of competition or monopoly, and competition as a dynamic process over time. PUL=5

• ECON-E 387 Health Economics (3 cr.) P: ECON-E 201. This course applies economic theory to the study of policy issues in health economics. Specific issues included are: determinants of demand for medical services and insurance; training and pricing behavior of physicians; pricing behavior and costs of hospitals; market and regulative approaches. PUL=5

• ECON-E 406 Senior Seminar (3 cr.) P: ECON-E 321 and ECON-E 322 or permission of instructor. Assessment of the current state of economic knowledge and discussion of how economics is applied to study the problems facing modern society. PUL=5

• ECON-E 408 Undergraduate Readings in Economics (3 cr. maximum cr.) P: Permission of instructor. ECON majors only. Individual readings and research.  PUL=5,1

• ECON-E 410 Selected Topics in U.S. Economic History (3 cr.) P: ECON-E 201-E202. Analysis of selected topics, including transportation developments, government intervention, systems of property rights, slavery, economic growth, income distribution, economic stability, technical change, and others. PUL=5

• ECON-E 414 Economics of the Nonprofit Sector (3 cr.) P: ECON-E 201. The role of nonprofit organizations (universities, churches, hospitals, orchestras, charities, day care, research, nursing homes) in mixed economics. Public policy controversies such as regulation of fundraising, antitrust against universities, "unfair" competition with for-profit firms, and the tax treatment of donations. PUL=5

• ECON-E 420 History of Economic Thought (3 cr.) P: ECON-E 201-E202. Examination of main theoretical developments since the beginning of the systematic study of economics. Theoretical propositions and structures of the earlier writers will be interpreted and evaluated in terms of modern economic analysis. PUL=5

• ECON-E 430 Introduction to International Economics (3 cr.) P: ECON-E 201-E202. Forces determining international trade, finance, and commercial policy under changing world conditions; theory of international trade; structure of world trade; tariff and trade control policies; the balance of payments problem; evolution of international economic institutions; and monetary relations. PUL=5

• ECON-E 441 Economics of Labor Markets (3 cr.) P: ECON-E 201, ECON-E 321, and ECON-E 270 or equivalent. Analysis of the functioning of labor markets with theoretical, empirical, and policy applications in determination of employment and wages in the U.S. economy. PUL=5

• ECON-E 450 Business Conditions Analysis and Forecasting (3 cr.) P: ECON-E 201-E202. This course examines sources of instability in industrialized economies. Various theories of the business cycle are examined and critiqued. In addition, the empirical determinant of aggregate demand, prices, and interest rates are discussed. Alternative forecasting techniques are considered and the use of these techniques is demonstrated. PUL=1

• ECON-E 470 Introduction to Econometrics (3 cr.) P: ECON-E 270, MATH-M 119. Application of regression analysis to economic and business data. Estimation and hypothesis testing of classical regression model. Heteroscedasticity, collinearity, errors in observation, functional forms, and autoregressive models. Estimation of simultaneous equation models. Credit will not be given for both ECON-E 470 and ECON-E 472. PUL=1

• ECON-E 485 Economic and Social Control of Industry (Antitrust) (3 cr.) P: ECON-E 201 or permission of instructor. This course is a study of the economic reasoning behind and consequences of the application of antitrust laws aimed at altering the structure, conduct, and performance of the American economy. Specific legal cases that have been brought under the Sherman Act, the Clayton Act, as amended, and the Federal Trade Commission Act are analyzed. PUL=5

• ECON-E 102 Economics of Personal Finance (3 cr.) Shows how the state of the economy, prices, and interest rates should guide personal decisions about spending, saving, credit, investments, and insurance. Intended for non-business students. PUL=5

• ECON-E 375 Introduction to Mathematical Economics (3 cr.) Applications of mathematical concepts to equilibrium and optimization. Applications of matrix theory to input-output analysis, activity analysis, and models of capital accumulation.

Graduate Courses

• ECON-E 504 Mathematics for Economists (3 cr.) Topics in mathematics that are particularly useful in the application of microeconomic theory, macroeconomic theory, and econometrics. Topics covered include: matrix algebra, comparative-static analysis, constrained optimization, difference equations in discrete time, game theory, and set theory as applied to general equilibrium analysis.

• ECON-E 513 Special Topics in Economic History (3 cr.) Explicit methodology and economic analysis applied to major issues in American and European economic history.

• ECON-E 514 The Nonprofit Economy and Public Policy (3 cr.) P: ECON-E 201. The role of nonprofit organizations (universities, churches, hospitals, orchestras, charities, day care, research, nursing homes) in mixed economies. Public policy controversies such as regulation of fundraising, antitrust against universities, "unfair" competition with for-profit firms, and the tax treatment of donations. (This course may not be taken for credit by anyone who has received credit for ECON-E 414.)

• ECON-E 519 Regional Economics (3 cr.) Regional economics is the study of economic behavior in space. The course examines the internal and interregional determinants of growth and decline of a region from supply and demand perspectives. Public policies to influence these determinants are considered.

• ECON-E 521 Theory of Prices and Markets (3 cr.) P: ECON-E 504 or consent of instructor. Develops the methodology of economic analysis and teaches the tools and language of price theory. Fundamental elements of consumer theory, producer theory and economics of uncertainty. Emphasis on comparative statics and the duality theory. Topics on welfare analysis, the theory of price indices, quality of goods, revealed preferences, the theory of derived demand, expected utility theory, attitudes toward risk, and various measures of riskiness.

• ECON-E 522 Macroeconomic Theory 1 (3 cr.) P: ECON-E 520. Introductory course on macroeconomic dynamics; covers growth models and asset pricing theories, endogenous growth theories, optiomal growth problems, and competitive dynamic equilibrium models. Dynamic programming tools introduced as needed. All models are cast in discrete time setup; presents deterministic and stochastic theories.

• ECON-E 528 Economic Analysis of Health Care (3 cr.) A graduate introduction to health economics. Applications of economic theory to problems in various areas in health care. Applications of econometric techniques to the same. Topics include how physicians, institutions, and consumers respond to economic incentives and what policies contribute maximally to efficiency and welfare.

• ECON-E 545 Applied Labor Economics (3 cr.) P: ECON-E 321 or ECON-E 470 or equivalents. Discussion of wage rates and working conditions, searches by workers or firms, investment in training, quits and layoffs, shirking, discrimination, the division of household labor, retirement, and implicit contracts. The course also examines the impact of institutions such as unions and the government on the efficiency of the labor market

• ECON-E 568 Public Finance I (3 cr.) P: ECON-E 308 and ECON-E 470. Partial equilibrium, microeconomic analysis of how tax and subsidy policies affect various types of individual and firm behavior. Theoretical models are introduced to assess and develop quantitative studies of fiscal policy. Summaries of the empirical impact of policy will be formed for the purpose of becoming an "input" in the complete general equilibrium analysis conducted in Public Finance II.

• ECON-E 569 Public Finance II (3 cr.) P: ECON-E 568. Empirical examination of the general equilibrium effects of major tax and subsidy programs, such as personal income taxation, corporate profit taxation, income maintenance, social security, and government provision of education. In addition, proposed reforms to these programs will be analyzed using empirically based simulation models.

• ECON-E 570 Fundamentals of Statistics and Econometrics (3 cr.) Mathematical overview of statistics and econometrics at graduate level. Topics covered include probability and probability distributions, sampling distributions, tests of hypotheses, estimation, simple regression, multiple regression, generalized linear model and its applications, simultaneous equation system.

• ECON-E 574 Applied Econometrics and Forecasting (3 cr.) P: ECON-E 570. An overview of techniques employed in economic model building, estimation, and usage. Topics covered include single and multi-equation system estimation, limited dependent variable regression techniques, hypothesis testing, policy analysis, and forecasting. Various forecasting techniques are discussed, including smoothing and decomposition methods and time series analysis. A number of projects are assigned throughout the semester in order to give the student hands-on experience with the different techniques.

• ECON-E 581 Topics in Applied Microeconomics I (3 cr.) P: ECON-E 521. This course is a graduate-level introduction to theoretical and empirical applications in one or more areas of microeconomics. We will demonstrate how economic concepts can be usefully applied to understanding problems in the subdiscipline under study and discuss and apply estimation techniques appropriate for problems in the area.

• ECON-E 582 Topics in Applied Microeconomics II (3 cr.) P: ECON-E 521 and ECON-E 570 or consent of the instructor. This course is a second graduate-level introduction to theoretical and empirical applications in two areas of microeconomics. We will demonstrate how economic concepts can be usefully applied to understanding problems in the subdiscipline under study, and discuss and apply estimation techniques appropriate for problems in the area.

• ECON-E 583 Introduction to Applied Macroeconomics (3 cr.) P: ECON-E 522 and ECON-E 570 or equivalents and consent of the instructor. This course is a graduate-level introduction to theoretical and empirical applications in two areas of macroeconomics. We will demonstrate how economic theories can be usefully applied to understanding problems in the subdiscipline under study and discuss and apply estimation and calibration techniques appropriate for problems in the area.

• ECON-E 600 Research in Economics (arr. cr.) Individual readings and research.

• ECON-E 808 Thesis (M.A.) (arr. cr.)

• ECON-E 515 Institutional Setting for Health Economics in the U.S. (3 cr.) P: or C: ECON-E 521 and ECON-E 571. Overview of the structure fo the U.S. health care system including health care financing, health care delivery, and government programs. Private and public financing mechanisms as well as government regulation. Comparison of the U.S. system to the health care systems of other countries.

• ECON-E 516 Institutional Setting for Nonprofit/Philanthropic Economics (3 cr.) P: or C: ECON-E 521 and ECON-E 571. This course provides a broad overview of nonprofit institutions and philanthropic practices, along with a discussion of available data sources on each. We discuss the size and scope of nonprofit organizations, revenues, goverance, regulation and taxation, intersectoral relations, patterns of philanthorpy, and public policies that affect giving behaviors.

• ECON-E 520 Optimization Theory in Economic Analysis (3 cr.) P: Calculus and Linear Algebra. Introduction to concepts and techniques of optimization theory applied in modern micro and macroeconomics. Theory and application of Lagrange multipliers, comparative statics analysis, valve functions and envelope theorems. Elements of dynamic programming and other methods of economics dynamics.

• ECON-E 571 Econometrics I-Statistical Foundations (3 cr.) P: Calculus and Linear Algebra. The probability bases for statistical estimation and testing are introduced in the context of issues, theories, and data found in economics.  The classical linear regression model is presented as the starting point for multivariate analyses in econometrics.  Students work with various computer programs in and out of the scheduled class periods.

• ECON-E 573 Econometrics II (3 cr.) P: ECON-E 571. Estimation and inference in linear regression model, basic asymoptotic theory, heteroskedasticity, measurement error, generalized least squares, instrumental variable model, maximum likelihood estimation, generalized method of moments, qualitative response models.

• ECON-E 577 Computer Methods and Data Analysis (3 cr.) P: ECON-E 570 or ECON-E 573. The first of a two-semester sequence in computer methods and data analysis. ECON-E 577 teaches students to use large datasets in an econometric analysis to answer a research question, to program in Stata, and to organize a complicated data project. The course also will complete students' introduction to the Stata programming language. The course prepares students to carry out their own large-scale research project and/or efficiently work within an organization that uses large data files to achieve its objectives.

• ECON-E 578 Advanced Computer Methods and Complex Datasets (3 cr.) P: ECON-E 577. In ECON-E 578 students learn to conduct empirical research with advanced computer methods and complex datasets. In the first half of the course students will learn the process by which empirical research is conducted by critiquing several published research articles and replicating the research from a previously published journal article. The replication will involve critical assessment of the research question, specific aims, innovation, significance, methodological approach, as well as learning the computer methods and datasets necessary to replicate the results. In the second half of the course students will use their acquired knowledge of research process to write a detailed proposal for an original research project. The course culminates with an oral presentation of the proposal, followed by critical peer assessment of the project's research question, aims, innovation, significance, and methods. In addition to learning the process of research, students will acquire advanced Stata programming skills (e.g., ado-file programming, Mata, maximum-likelihood programming), and be introduced to several complex data sets that are important in health economics research. At the culmination of the course, students will be prepared to execute their first original research project. That execution will commence during the summer following completion of E578.

• ECON-E 611 Information Economics and Theories of Incentives and Contracts (3 cr.) P: ECON-E 521. The course covers topics in the theories of incentives and contracts that study situations in which there are explicit or implicit contractual obligations. It explores the role and influence of asymmetric information in determining outcomes with special emphases on moral hazard and adverse selection.

• ECON-E 621 Theories of Prices and Market (3 cr.) P: ECON-E 520. Analysis of equilibrium, first- and second-orderconditions; statistical derivation of demand and cost curves; activity analysis; general equilibrium; welfare economics; microeconomics of capital theory; pure oligopoly and gave theory.

• ECON-E 643 Health Economics I (3 cr.) P: ECON-E 515, ECON-E 573, and ECON-E 611. E643 will provide students with the theoretical knowledge and make them familiar with current research on key issues in health economics, including the production of and demand for health, determinants of health and health disparities, change in health technology, and the economic evaluation of health and health care.

• ECON-E 644 Health Economics II (3 cr.) P: ECON-E 515, ECON-E 573, and ECON-E 611. This course builds on the core theory, econometrics and health economics courses to provide an in depth knowledge of key issues related to markets and market failure in the supply of health care services, the impact of insurance on the demand for health care services, response of consumers to insurers' financial incentives, the role of government in health care markets, the labor market behavior of physicians; hospital ownership, competition, and reimbursement. In addition to introducing theoretical concepts the course aims at familiarizing students to current research on these topics by means of review of seminal journal articles. It will provide a foundation for understanding key dimensions in health care markets, appreciate contributions of past literature on the subject and initiate constructive critical thought on the existing work and future directions of research in the field.

• ECON-E 670 Econometrics 3-System and Panel Econometric Models (3 cr.) P: ECON-E 573 or equivalent. Simultaneous equation models (2SLS, 3SLS), time series concepts for panel data analysis and serial correlation, pooled cross-section methods, linear panel data models [First Differences, Fixed Effects (FE) and Random Effects (RE)], nonlinear panel data models (ML and GMM).]

• ECON-E 673 Econometrics 4-Microeconometrics (3 cr.) P: ECON-E 573 or equivalent. Microeconometrics with applications to labor, health, and public economics. Extensive coverage of limited dependent variable and panel data models. Empirical implementation is an essential component of the course.

• ECON-E 744 Seminar/Workshop in Health Economics (3 cr.) P: ECON-E 644. The Seminar in Health Economics introduces students to current working papers in health economics by leading scholars who present their work in a seminar format at IUPUI.  It also provides the opportunity for PhD students to present their own work to faculty and peers.

• ECON-E 800 Research in Economics (arr cr.)

• ECON-E 809 Thesis (PhD) (arr. cr.)