THE UNIVERSITY OF ALABAMA GRADUATE CATALOG
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7.6.2 ECONOMICS (EC)
Department Head: Professor Matt Holt, Office: 248 Alston Hall
 
Intermediate macro- and microeconomic theory (EC 309 and EC 308 or their equivalents) are considered prerequisites for all graduate coursework in economics, except for MBA-designated courses.
 
EC 500 Managerial Economics. Three hours.
Prerequisite: Admission to the MBA program.
An introduction to the foundations of both micro- and macroeconomic analysis, including consumer demand, production and cost analysis, price determination, and macroeconomic theory and policy. Emphasis is on the theory of the firm.

EC 503 Economics of the Firm. Three hours.
Prerequisite: Admission to the MBA program.
An introduction to the foundations of economic analysis as it applies to consumer and firm behavior. Emphasis is on market structures and pricing decisions.

EC 508 Microeconomic Theory. Three hours.
Prerequisites: EC 308 or equivalent and MATH 125 or equivalent.
An examination of the theory of resource allocation. Topics include demand theory, production and cost functions, theory of markets, general equilibrium analysis, and welfare theory.

EC 509 Macroeconomic Theory and Policy. Three hours.
Prerequisite: EC 508, EC 308, or permission of the instructor.
This overview of modern macroeconomic theory and its implications for the conduct of stabilization policies is intended to provide a solid background in macroeconomics for students not seeking a terminal degree in economics or for students preparing for EC 511. The course considers the microeconomic foundations of aggregate economic analysis, but with less mathematical rigor than in EC 511.

EC 510 Advanced Microeconomic Theory. Three hours.
A thorough examination of advanced value theory and a brief survey of distribution theory.
 
EC 511 Advanced Macroeconomic Theory. Three hours.
Modern theory of aggregate income and employment, with application to analysis of stabilization policies.

EC 512 Industrial Organization and Public Policy. Three hours.
Prerequisite: EC 508 or equivalent.
The theoretical and empirical study of large industrial firms in a market economy. The focus is on corporate and governmental policies affecting markets.

EC 513 Macroeconomic Policy. Three hours.
A survey of the analytical techniques used by economists to forecast the macro- and micro-levels of economic activity and the effects of public policy on the economy. Computing proficiency is required for a passing grade in this course.

EC 516 Monetary Theory and Policy. Three hours.  (same as FI 516).
Prerequisites: EC 508 and EC 509 or equivalents.
Theoretical and empirical analysis of the money supply process, the demand for money, the impact of money on the economy, and the implementation of monetary policy.

EC 523 Public Finance. Three hours.
Prerequisites: EC 508 and EC 470. Study of the principles of taxation, government expenditures, borrowing, and fiscal administration.


EC 530 International Economics. Three hours.
Prerequisite: EC 430 or equivalent.
Analysis and policy implications relating to the international movement of goods, resources, and financial assets.

EC 531 International Finance. Three hours.  (same as FI 531).
Prerequisite: EC 430 or equivalent.
An examination of the foreign exchange market, exchange rate determination, international financial institutions, and the management of the risks associated with international business.

EC 540 The Theory of Economic Development. Three hours.
A comprehensive study of classical and modern theories of economic progress. Particular emphasis is given to the less developed countries and to the role of institutions.

EC 550 Survey of Development of Economic Thought. Three hours.
A study in the development of economic ideas, from the classical writers down to the present.

EC 570 Mathematical Economics. Three hours.  (same as FI 570).
Prerequisite: EC 470 or equivalent.
An introduction to mathematical tools commonly used in advanced economic theory and econometrics.

EC 571 Econometrics. Three hours.
Prerequisite: EC 570 or equivalent.
Corequisite: ST 551 or equivalent.
A quantitative analysis of actual economic phenomena based on the current development of theory and observation, related by appropriate methods of inference.

EC 591 Independent Study. Variable credit.
 

EC 596 Capstone Project. Variable credit.

 

EC 597 Special Topics in Economics. Variable credit.


EC 598 Introduction to Economic Research. Variable credit.


EC 599 MA Thesis Supervision. Variable credit.

EC 610 Seminar in Microeconomic Theory. Three hours.
Prerequisite: Graduate student status and permission of the instructor.
An advanced study of the modern theory of value and price. The seminar includes demand and supply analysis, marginal analysis, and the monopolistic and competitive structure of markets.

EC 611 Seminar in Macroeconomic Theory. Three hours.
Prerequisite: Graduate student status and permission of the instructor.
Selected topics in contemporary macroeconomic theory, with emphasis on dynamic analysis of cyclical fluctuations, stabilization policies, and growth.

EC 612 Seminar in Industrial Organization. Three hours.
Prerequisite: EC 512 or equivalent.
A survey of selected topics in industrial organization. Both theoretical and applied topics are examined, with special emphasis on recent developments.

EC 615 Distribution Theory. Three hours.
Prerequisite: Graduate standing.
Analysis of welfare economics as applied to income and wealth distributions. Methods of measuring and evaluating poverty, inequality, growth, income mobility, and redistributive policies.
 

EC 616 Seminar in Monetary Economics. Three hours.  (same as FI 616).
Prerequisite: EC 516 or equivalent.
Selected topics in contemporary monetary theory, with emphasis on determination of the value of money and the effectiveness of monetary policies.

EC 622 Seminar in Public Finance. Three hours.
A seminar on recent developments in public economics, with emphasis on the theory of taxation including tax incentives and tax incidence.

EC 623 Public Expenditure and Policy Analysis. Three hours.
Prerequisite: EC 510 or equivalent.
A survey of the public-economics literature, with emphasis on the theory of public goods, public choice, and income distribution policies.

EC 630 International Trade Theory. Three hours.
Prerequisite: EC 610 or permission of the instructor.
A survey of selected topics in international trade with emphasis on the basis for trade and the welfare effects of trade policy.

EC 631 Seminar in International Finance. Three hours.  (same as FI 631).
Prerequisite: EC 531 or equivalent.
A survey of the most important professional literature dealing with international financial management.

EC 640 Theory of Risk and Insurance. Three hours.  (same as FI 640).
Prerequisite: Graduate standing.
Foundation of insurance in risk theory and its problems and practices.

EC 641 Seminar in the International Economics of Development. Three hours.
Prerequisite: EC 430, EC 440, or equivalent.
Consideration of advanced literature in international economics, with emphasis on those issues that relate to less developed countries: trade, multinational enterprise, and external debt problems.

EC 650 Seminar in Economic Thought. Three hours.
Prerequisite: EC 550 or equivalent.
An examination of the literature on economic analysis and policy. The course aims at establishing a synthesis of evolving doctrines that have become, and are formulating, the basis of accepted economic theory and policy.

EC 653 Comparative Economic Systems. Three hours.
A comparative analysis of market and non-market theoretical economic systems from the viewpoint of economic welfare.

EC 660 Game Theory. Three hours.
Prerequisites: EC 610 and EC 470.
An introduction to non-cooperative game theory. Emphasis on applications in microeconomics and macroeconomics.

EC 670 Econometrics. Three hours.
Prerequisites: EC 570, ST 551.
Introduction to methods of analyzing economic data. Topics include linear and non-linear least squares, maximum likelihood estimation, statistical inference, and methods for handling data problems.

EC 671 Seminar in Econometrics. Three hours.
Prerequisite: EC 571 or equivalent.
A study of selected topics and problems in econometrics emphasizing methodology for economic research measurements.

EC 672 Financial Econometric Modeling. Three hours.
Prerequisite: EC 571, EC 670 or ST 570.
The application of econometric time-series methods to financial data. GARCH, nonlinear and cointegration models will be emphasized.

 

EC 676 Advanced Monetary Theory & Policy. Three hours.
Prerequisite: EC 611 or EC 616.
Geared toward developing skills to conduct research in the areas of monetary theory and policy analysis. Builds on advanced topics that were introduced in EC 616. By the end of the semester, each student should have completed the initial stages of developing a potential dissertation chapter.

EC 698 Research in Economics. Three hours.
These courses consist of supervised study and investigation of specific problems in economics. They are open only to graduate students nearing completion of coursework for the degree.

EC 699 Dissertation Research. Variable credit. Three-hour minimum.


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