Course Schedule

Applied Economics

The courses below are those offered for the term. (To view the course description, class dates & times, touch on accordion tab by the title.)

  • Washington DC Center

    440.021.51 - Practicum in Applied Economics

    $400

    Frank Weiss
    -STAFF-

    Sunday 12:00 - 12:00; 5/10 - 8/15

    Internships or external projects applicable to the program curriculum qualify for the course. Permission of the student's advisor and of the Program Director is required before adding this non-credit course.

    440.601.51 - Microeconomic Theory

    $4160

    Frank Weiss

    Monday 6:00 - 8:45; 5/15 - 8/14

    Prerequisite: AS.440.304, Math Methods for Economists This course offers a systematic presentation of consumer theory, theory of the firm, and market equilibrium. Topics covered include constrained optimization, preferences and utility, exchange, production, pricing, market structures, and welfare economics.

    440.606.51 - Econometrics

    $4160

    David Austin
    David Burk

    Wednesday 6:00 - 8:45; 5/10 - 8/9

    This course focuses on the application of statistical methods to the testing and estimation of economic relationships. After developing the theoretical constructs of classical least squares, common problems encountered when applying this approach, including serial correlation, heteroscedasticity, and multicollinearity, are discussed. Techniques for dealing with these problems are then examined. Models with lagged variables are considered, as is estimation with instrumental variables and two-stage least squares. Prerequisites: 440.605 Statistics.

    440.614.51 - Macroeconometrics [Time-Series Analysis]

    $4160

    Laurel Adams

    Wednesday 6:00 - 8:45; 5/10 - 8/9

    This course focuses on the practical uses of time-series econometrics in a macroeconomic context. The topics covered include autoregressive-moving average processes, non-stationary time series models, unit root tests, vector autoregression models, and cointegration analysis. Prerequisites: 440.602 Macroeconomic Theory and Policy; 440.606 Econometrics.

    440.618.51 - Microeconometrics [Cross-Section and Panel Analysis]

    $4160

    Hanchen Jiang

    Tuesday 6:00 - 8:45; 5/16 - 8/15

    [formerly 440.648] This course covers a number of advanced techniques frequently encountered in applied microeconometric analysis. Topics include generalized method of moments estimation, nonlinear regression, estimation with panel data, systems of regression equations and simultaneous equation models, maximum likelihood estimation and likelihood ratio tests, and limited dependent variable analysis (i.e. Logit, Probit, Tobit, etc.). Prerequisites: 440.601 Microeconomic Theory and Policy; 440.606 Econometrics.

    440.622.51 - Cost-Benefit Analysis

    $4160

    Michael LeGower

    Wednesday 6:00 - 8:45; 5/10 - 8/9

    [formerly 440.632] The objective of this course is to develop and apply an analytical framework for evaluating projects with an emphasis on publicly funded projects. Coverage includes the evaluation of benefits and costs over time, including in the presence of uncertainty, in the absence of market prices, and when income distribution objectives need to be incorporated into a project's evaluation. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    440.640.51 - Financial Economics

    $4160

    Abby

    Tuesday 6:00 - 8:45; 5/16 - 8/15

    [formerly 440.642] Finance treats the transfer of resources across time and the transfer of risk among economic entities. The aim of this course is to develop the microeconomic theory relevant to these types of transactions. A set of underlying economic principles is applied to the determination of the value of basic financial instruments such as stocks and bonds, as well as to more complicated derivative securities, such as futures and options. Valuation concepts, in turn, allow for the analysis of various issues of interest to policy makers as well as portfolio managers and investors, such as the term structure of interest rates, portfolio theory, the capital structure of the firm, and risk management. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    440.641.51 - Financial Intermediation & Financial Markets

    $4160

    Jonathan Veum

    Thursday 6:00 - 8:45; 5/11 - 8/10

    [formerly 440.620] Examines why financial intermediaries exist, how they co-exist with financial markets, and how they have been forced to switch from accepting deposits and making loans to using derivatives to manage risk. Shows how risk management differs between bank-based and market-based economies. Analyzes the economic consequences of financial market imperfections, especially for credit market equilibrium and rationing. theories of bank runs and systemic risk; and how different financial systems and governments can cope with financial crises, financial fragility, and credit market frictions. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    440.659.51 - Law and Economics

    $4160

    James Langenfeld

    Monday 6:00 - 8:45; 5/15 - 8/14

    [formerly 440.639] Techniques of microeconomic theory and game theory are applied to analyze the effects of various laws on individual decisions and on the allocation of resources. Subject areas covered include the theory of public choice, the economics of property rights, contract law, and tort law. Topics include the efficient breach of contract, the determination of damages, the economics of patents and copyrights, optimal liability rules for environmental and other torts, economics of family law, bankruptcy law, zoning law, antitrust law, and the legal process. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    440.663.51 - Development Microeconomics

    $4160

    Bilal Zia

    Monday 6:00 - 8:45; 5/15 - 8/14

    [formerly 440.623] This course analyzes the constraints on households and policy makers in developing countries using econometric tools. Empirical micro-economic studies of behavior and policy outcomes under different types of market failures are drawn upon. Topics include inter alia inequality, fertility, education, health, poverty, nutrition, and failures in land, labor, credit and insurance markets. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    440.888.51 - Continuation (Applied Economics)

    $500

    -STAFF-
    Frank Weiss

    Sunday 12:00 - 12:00; 5/10 - 8/15

    [formerly 440.656] Students not finishing their paper during the term in which they enroll must register for Continuation in every ensuing semester (including Summer) until their papers are accepted, but Continuation does not count as a separate course. Such students must pay a continuation-of-enrollment fee of $500 for each subsequent term until a final grade has been submitted. In Applied Economics, taking Continuation once may be considered the norm. Prerequisite: 440.692 Thesis

  • Online Courses

    440.304.81 - Math Methods for Economists

    $4160

    James Outen

    Online 5/10 - 8/15

    This is a three undergraduate credit, full-length course at half tuition, required of those students who have had only a single course in Calculus. It covers those parts of Integral Calculus, Multivariable Calculus, Optimization Theory, and Linear Algebra, which are necessary to pursue economics. For those required to take Math Methods, the course is treated academically as part of the Core. Thus, all rules applying to the Core apply to Math Methods. Prerequisite: A course in Calculus.

    Technology Fees: $175.00

    440.304.82 - Math Methods for Economists

    $4160

    Kenneth Danger

    Online 5/10 - 8/15

    This is a three undergraduate credit, full-length course at half tuition, required of those students who have had only a single course in Calculus. It covers those parts of Integral Calculus, Multivariable Calculus, Optimization Theory, and Linear Algebra, which are necessary to pursue economics. For those required to take Math Methods, the course is treated academically as part of the Core. Thus, all rules applying to the Core apply to Math Methods. Prerequisite: A course in Calculus.

    Technology Fees: $175.00

    440.601.81 - Microeconomic Theory

    $4160

    Ahmed Mahmud

    Online 5/10 - 8/15

    Prerequisite: AS.440.304, Math Methods for Economists This course offers a systematic presentation of consumer theory, theory of the firm, and market equilibrium. Topics covered include constrained optimization, preferences and utility, exchange, production, pricing, market structures, and welfare economics.

    Technology Fees: $175.00

    440.602.81 - Macroeconomic Theory

    $4160

    Sanjay Chugh

    Online 5/10 - 8/15

    Prerequisite: AS.440.304, Math Methods for Economists This course provides a systematic overview of the theory of aggregate output and employment, the rate of interest, and price level determination. Coverage includes the theories of consumption and investment, the demand and supply of money, inflation, unemployment, and economic growth. These topics are discussed in the context of contemporary empirical work on aggregative relationships.

    Technology Fees: $175.00

    440.602.82 - Macroeconomic Theory

    $4160

    Jonathan Veum

    Online 5/10 - 8/15

    Prerequisite: AS.440.304, Math Methods for Economists This course provides a systematic overview of the theory of aggregate output and employment, the rate of interest, and price level determination. Coverage includes the theories of consumption and investment, the demand and supply of money, inflation, unemployment, and economic growth. These topics are discussed in the context of contemporary empirical work on aggregative relationships.

    Technology Fees: $175.00

    440.605.81 - Statistics

    $4160

    Suzanne McCoskey

    Online 5/10 - 8/15

    This course provides a general survey of statistical methodology. Topics include probability and sampling, distribution theory, hypothesis testing, estimation (Maximum Likelihood and Method of Moments), and Analysis of Variance. It is also designed to provide the requisite background for 440.606 Econometrics. Prerequisite: a course in Calculus

    Technology Fees: $175.00

    440.606.81 - Econometrics

    $4160

    Suzanne McCoskey

    Online 5/10 - 8/15

    This course focuses on the application of statistical methods to the testing and estimation of economic relationships. After developing the theoretical constructs of classical least squares, common problems encountered when applying this approach, including serial correlation, heteroscedasticity, and multicollinearity, are discussed. Techniques for dealing with these problems are then examined. Models with lagged variables are considered, as is estimation with instrumental variables and two-stage least squares. Prerequisites: 440.605 Statistics.

    Technology Fees: $175.00

    440.614.81 - Macroeconometrics [Time-Series Analysis]

    $4160

    Allan Brunner

    Online 5/10 - 8/15

    This course focuses on the practical uses of time-series econometrics in a macroeconomic context. The topics covered include autoregressive-moving average processes, non-stationary time series models, unit root tests, vector autoregression models, and cointegration analysis. Prerequisites: 440.602 Macroeconomic Theory and Policy; 440.606 Econometrics.

    Technology Fees: $175.00

    440.614.82 - Macroeconometrics [Time-Series Analysis]

    $4160

    Allan Brunner

    Online 5/10 - 8/15

    This course focuses on the practical uses of time-series econometrics in a macroeconomic context. The topics covered include autoregressive-moving average processes, non-stationary time series models, unit root tests, vector autoregression models, and cointegration analysis. Prerequisites: 440.602 Macroeconomic Theory and Policy; 440.606 Econometrics.

    Technology Fees: $175.00

    440.615.81 - Macroeconomic Forecasting

    $4160

    John Schindler

    Online 5/10 - 8/15

    This course examines econometric approaches to forecasting macroeconomic activity. The approaches covered span single equation time series to large, complex, simultaneous equations systems. Different measures to assess the forecasting accuracy of these approaches are addressed. A discussion of these approaches and their relevance for policy recommendations is also covered. Prerequisites: 440.602 Macroeconomic Theory and Policy; 440.606 Econometrics.

    Technology Fees: $175.00

    440.618.81 - Microeconometrics [Cross-Section and Panel Analysis]

    $4160

    Nathan Goldstein

    Online 5/10 - 8/15

    [formerly 440.648] This course covers a number of advanced techniques frequently encountered in applied microeconometric analysis. Topics include generalized method of moments estimation, nonlinear regression, estimation with panel data, systems of regression equations and simultaneous equation models, maximum likelihood estimation and likelihood ratio tests, and limited dependent variable analysis (i.e. Logit, Probit, Tobit, etc.). Prerequisites: 440.601 Microeconomic Theory and Policy; 440.606 Econometrics.

    Technology Fees: $175.00

    440.622.81 - Cost-Benefit Analysis

    $4160

    Paul Dockins
    Charles Griffiths

    Online 5/10 - 8/15

    [formerly 440.632] The objective of this course is to develop and apply an analytical framework for evaluating projects with an emphasis on publicly funded projects. Coverage includes the evaluation of benefits and costs over time, including in the presence of uncertainty, in the absence of market prices, and when income distribution objectives need to be incorporated into a project's evaluation. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fees: $175.00

    440.622.82 - Cost-Benefit Analysis

    $4160

    Paul Dockins
    Charles Griffiths

    Online 5/10 - 8/15

    [formerly 440.632] The objective of this course is to develop and apply an analytical framework for evaluating projects with an emphasis on publicly funded projects. Coverage includes the evaluation of benefits and costs over time, including in the presence of uncertainty, in the absence of market prices, and when income distribution objectives need to be incorporated into a project's evaluation. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fee: $175

    440.629.81 - Survey Research Methods

    $4160

    Michael Horrigan

    Online 5/10 - 8/15

    This course introduces students to the theory and practice of conducting surveys. Survey methods combines both social science—economics, sociology, and psychology—and quantitative methods—mathematics, statistics, and computer science—to develop a theory of how surveys can best be used to measure important aspects of the human condition. Key topics include sample design, weighting, data collection modes, administrative operations, questionnaire design, nonresponse, and estimation in surveys. Prerequisites: 440.601 Microeconomic Theory, 440.605 Statistics. Corequisite: 440.606 Econometrics.

    Technology Fees: $175.00

    440.639.81 - International Finance (Open Economy Macro)

    $4160

    Brendan Epstein

    Online 5/10 - 8/15

    [formerly 440.619] This course provides an overview of open economy macroeconomics, and international financial markets and policies. The focus is on exchange rate determination, the importance of the balance of payments for both the domestic economy and the economies of other countries, international capital flows, the impact of internal debt on the balance of trade, and the interaction and potential conflicts between domestic and international economic policy objectives. Prerequisite: 440.602 Macroeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fees: $175.00

    440.639.82 - International Finance (Open Economy Macro)

    $4160

    Brendan Epstein

    Online 5/10 - 8/15

    [formerly 440.619] This course provides an overview of open economy macroeconomics, and international financial markets and policies. The focus is on exchange rate determination, the importance of the balance of payments for both the domestic economy and the economies of other countries, international capital flows, the impact of internal debt on the balance of trade, and the interaction and potential conflicts between domestic and international economic policy objectives. Prerequisite: 440.602 Macroeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fees: $175.00

    440.640.81 - Financial Economics

    $4160

    Yongli Zhang

    Online 5/10 - 8/15

    [formerly 440.642] Finance treats the transfer of resources across time and the transfer of risk among economic entities. The aim of this course is to develop the microeconomic theory relevant to these types of transactions. A set of underlying economic principles is applied to the determination of the value of basic financial instruments such as stocks and bonds, as well as to more complicated derivative securities, such as futures and options. Valuation concepts, in turn, allow for the analysis of various issues of interest to policy makers as well as portfolio managers and investors, such as the term structure of interest rates, portfolio theory, the capital structure of the firm, and risk management. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fees: $175.00

    440.640.82 - Financial Economics

    $4160

    Yongli Zhang

    Online 5/10 - 8/15

    [formerly 440.642] Finance treats the transfer of resources across time and the transfer of risk among economic entities. The aim of this course is to develop the microeconomic theory relevant to these types of transactions. A set of underlying economic principles is applied to the determination of the value of basic financial instruments such as stocks and bonds, as well as to more complicated derivative securities, such as futures and options. Valuation concepts, in turn, allow for the analysis of various issues of interest to policy makers as well as portfolio managers and investors, such as the term structure of interest rates, portfolio theory, the capital structure of the firm, and risk management. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fees: $175.00

    440.646.81 - Economics of Derivatives

    $4160

    Kenneth Danger

    Online 5/10 - 8/15

    This course provides students a thorough introduction to the theoretical and practical aspects of forwards, futures, options, and swaps. Derivatives are important tools in financial markets, and students will learn how to price, value, and use them from a practical perspective. This course is particularly important for students seeking to work in finance. Topics covered include no arbitrage-based pricing, the pricing of forwards and futures, interest rate products and commodities, valuation based on market prices, and option pricing and strategies. Prerequisite: 440.601 Microeconomic Theory. Corequisites: 440.606 Econometrics and 440.640 Financial Economics.

    Technology Fees: $175.00

    440.646.82 - Economics of Derivatives

    $4160

    Kenneth Danger

    Online 5/10 - 8/15

    This course provides students a thorough introduction to the theoretical and practical aspects of forwards, futures, options, and swaps. Derivatives are important tools in financial markets, and students will learn how to price, value, and use them from a practical perspective. This course is particularly important for students seeking to work in finance. Topics covered include no arbitrage-based pricing, the pricing of forwards and futures, interest rate products and commodities, valuation based on market prices, and option pricing and strategies. Prerequisite: 440.601 Microeconomic Theory. Corequisites: 440.606 Econometrics and 440.640 Financial Economics.

    Technology Fees: $175.00

    440.650.81 - Environmental & Resource Economics

    $4160

    Michael Shelby

    Online 5/10 - 8/15

    [formerly 440.640] Beginning with the concept of sustainability, the course develops a framework for an economic assessment of environmental problems including the notion of market failure, valuation of environmental resources, and policy design issues associated with using alternative economic incentives and instruments. The second part of the course examines principles of the economically efficient management of non-depletable and depletable (e.g., fossil fuels, natural ecosystems) resources. Various applied settings are used to demonstrate the principles developed in the course. Prerequisites: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fees: $175.00

    440.650.82 - Environmental & Resource Economics

    $4160

    Michael Shelby

    Online 5/10 - 8/15

    [formerly 440.640] Beginning with the concept of sustainability, the course develops a framework for an economic assessment of environmental problems including the notion of market failure, valuation of environmental resources, and policy design issues associated with using alternative economic incentives and instruments. The second part of the course examines principles of the economically efficient management of non-depletable and depletable (e.g., fossil fuels, natural ecosystems) resources. Various applied settings are used to demonstrate the principles developed in the course. Prerequisites: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fees: $175.00