2026-2027 Academic Catalog

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Economics (ECON)

ECON 1004 - First Year Experience Seminar (1 credit) 
The course focuses on supporting first-year students and first-semester transfer students to build relationships with faculty, upper class mentors, and each other to prepare them to enter a more significantly diverse and interdisciplinary dependent community. The course also focuses on building skills for students to create personal, academic, and career goals. The course also focuses on resume building opportunities for internships, research experiences, and graduate school.
Instructional Contact Hours: (1 Lec, 1 Crd) 
ECON 1064 - The Culture of Money (3 credits) 
Exploration of the cultural, religious, and ethical dimensions of money and related topics, such as gifting, markets, the charging of interest, charity, pricing strategies, private property, and wage labor. Comparison of the disparate forms and uses of money and how money has worked in various cultural and historical frameworks. Evaluation of the differences between capitalist and non-capitalist money-systems, including philosophical debates about the relationship between money and human nature. Examination of ethical issues pertaining to money, such as the forgiveness of debt, money’s impact on social inequality, and the role of money in various projects of political empowerment and disempowerment.
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: HUM 1064, RLCL 1064 
ECON 1104 - Economics of Gender (3 credits) 
Economic approach to the causes and consequences of male/female gender differences in economic outcomes. Tools in microeconomic analysis and empirical work. Woman, family choices and labor markets. Gender gap in earnings. Employment and wage policies related to women.
Pathway Concept Area(s): 3 Reasoning in Social Sciences, 7 Identity & Equity in U.S., 10 Ethical Reasoning 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 1204 - Economics of Race (3 credits) 
Causes and consequences of racial disparities in economic outcomes including education, health, housing, entrepreneurship, and earnings. Tools in microeconomics and statistics as applied to the study of racial issues. Historical and institutional contexts of racial problems. Change in racial gaps across generations. Impact of public policies to address racial discrimination in labor markets.
Pathway Concept Area(s): 3 Reasoning in Social Sciences, 7 Identity & Equity in U.S., 10 Ethical Reasoning 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 1214 - Economic History of Diversity and Inclusion (3 credits) 
Economic analysis of topics concerning diversity and inclusion. Emphasis on Virginia and surrounding states. Introduction to the basic principles of economic analysis and economic history, with a special emphasis on models of institutional change, economic growth, discrimination, inequality, migration, and indigenous economic systems. Impact of institutions, environment, and technological change on labor markets, asset markets, and standard of living. Consideration of the role of data in understanding diversity and related ethical issues.
Pathway Concept Area(s): 3 Reasoning in Social Sciences, 7 Identity & Equity in U.S., 10 Ethical Reasoning 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: PPE 1214 
ECON 2005 - Principles of Economics (3 credits) 
2005: Introduction to microeconomics. The economic approach to decision-making. Model of supply and demand. Elasticities. Consumer behavior. Firm behavior under varying industry structures. Sources and consequences of market failure. Costs and benefits of international trade. The role of government in the economy. Economic, ethical, and social ramifications of issues such as pollution, missing information, and income inequality. 2006: Introduction to macroeconomics. The measurement of economic activity. Macroeconomic problems (such as unemployment and inflation). The monetary system. Effects and limitations of monetary and fiscal policies. International economics. Social and ethical issues related to macroeconomic policy.
Pathway Concept Area(s): 3 Reasoning in Social Sciences, 10 Ethical Reasoning 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 2006 - Principles of Economics (3 credits) 
2005: Introduction to microeconomics. The economic approach to decision-making. Model of supply and demand. Elasticities. Consumer behavior. Firm behavior under varying industry structures. Sources and consequences of market failure. Costs and benefits of international trade. The role of government in the economy. Economic, ethical, and social ramifications of issues such as pollution, missing information, and income inequality. 2006: Introduction to macroeconomics. The measurement of economic activity. Macroeconomic problems (such as unemployment and inflation). The monetary system. Effects and limitations of monetary and fiscal policies. International economics. Social and ethical issues related to macroeconomic policy.
Prerequisite(s): ECON 2005 
Pathway Concept Area(s): 3 Reasoning in Social Sciences, 10 Ethical Reasoning 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 2025H - Honors Principles of Economics (3 credits) 
2025H: Microeconomics. Consumer behavior and demand, firm behavior and supply, price determination and market equilibrium under varying industry structure. Applications to labor and financial markets. 2026H: Macroeconomics. Measuring aggregate economic activity, macroeconomic problems (such as unemployment and inflation), the monetary system, effects and limitations of monetary and fiscal policies.
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 2026H - Honors Principles of Economics (3 credits) 
2025H: Microeconomics. Consumer behavior and demand, firm behavior and supply, price determination and market equilibrium under varying industry structure. Applications to labor and financial markets. 2026H: Macroeconomics. Measuring aggregate economics activity, macroeconomic problems (such as unemployment and inflation), the monetary systems, effects and limitations of monetary and fiscal policies.
Prerequisite(s): ECON 2025H 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 2904 - Economics Undergraduate Teaching Assistant (2 credits) 
Students serve as undergraduate teaching assistants (UTAs) for introductory economics courses (e.g., ECON 2005 and 2006). Assist instructors with various aspects of course delivery and student engagement. Emphasis on university policies related to teaching, academic integrity, and confidentiality, methods of instruction, and the application of advanced economic concepts and theories covered in introductory courses. Develop teaching, presentation, communication, and mentoring skills while promoting active learning and student engagement. UTAs assist with evaluating assignments and providing constructive feedback to enhance student understanding. May be repeated up to three times with different content for a maximum of 8 credit hours. Pre: Sophomore standing.
Prerequisite(s): ECON 2005 and ECON 2006 
Instructional Contact Hours: (6 Lab, 2 Crd) 
Repeatability: up to 8 credit hours 
ECON 2974 - Independent Study (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 2974H - Independent Study (1-19 credits) 
Honors section.
Instructional Contact Hours: Variable credit course 
ECON 2984 - Special Study (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 2994 - Undergraduate Research (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 2994H - Undergraduate Research (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 3004 - Contemporary Economic Issues (3 credits) 
The economic analysis of current issues and problems. This course may be repeated with different topic.
Prerequisite(s): (ECON 2005 or ECON 2025H) and (ECON 2006 or ECON 2026H) 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3024 - Economic Justice (3 credits) 
This course explores how different assumptions regarding the basis of claims for access to economic resources lead to different outcomes. Students will explore a variety of theories and examine their own beliefs about economic justice.
Prerequisite(s): (ECON 2005 or ECON 2025H) and (ECON 2006 or ECON 2026H) 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: PPE 3024 
ECON 3034 - Economics of Poverty and Discrimination (3 credits) 
Poverty and inequality in the United States and around the world. Sources of poverty. Antipoverty policies. Definition, empirical evidence, and causes of discrimination. Emphasis on ethical human behavior and policy analysis.
Prerequisite(s): ECON 2005 
Pathway Concept Area(s): 3 Reasoning in Social Sciences, 7 Identity & Equity in U.S., 10 Ethical Reasoning 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3054 - Introduction to Forecasting (3 credits) 
Provides an introduction to data-driven forecasting, with applications in economics and in other disciplines - e.g., political science and climatology. Specification, estimation, and validation of time-series regression models; ethical issues arising in model specification and estimation. Forecasting theory and evaluation.
Prerequisite(s): ECON 3254 or ECON 4304 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3104 - Microeconomic Theory (3 credits) 
An analysis of microeconomic agents, with a focus on optimization methods (using Calculus) and techniques in modeling consumer and producer behavior. Explores utility maximization, theories of demand, production, cost minimization, and both perfectly and imperfectly competitive markets. Examines price determination and market equilibrium through applications of price theory. Includes analytical applications and policy evaluations.
Prerequisite(s): ECON 2005 and MATH 1226 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3134 - Choice and Behavior (3 credits) 
Theories of rational choice, utility, and revealed preference. Intertemporal decision problems and choice under uncertainty with applications to insurance and investments. Behavioral regularities and evidence of violations of rational choice theory. Behavioral models that accommodate this behavior. Applications of behavioral models to economic problems, ethical questions, policy, and organization design. Pre: Sophomore standing.
Prerequisite(s): ECON 2005 or BDS 2005 
Pathway Concept Area(s): 3 Reasoning in Social Sciences, 10 Ethical Reasoning 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: BDS 3134 
ECON 3144 - Economics of Regulation (3 credits) 
Economics of regulation with a focus on U.S. laws and institutions. Market structures, mergers, antitrust laws, and anticompetitive behavior, including collusion and monopolization. Economic regulation of price, entry, and output. Incentive regulation and alternatives to regulation. Valuing life and other nonmonetary benefits. Regulation of health, safety, and the environment.
Prerequisite(s): ECON 2006 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3154 - Managerial Economics (3 credits) 
Applications of economic concepts and models to practical issues. Demand analysis, the law of demand, and different approaches to analyzing consumer behavior (elasticity, consumer surplus, and utility theory). Supply analysis, producer behavior, and theories of firms (diminishing returns, price takers and price searchers). Pricing strategies including segmentation, two-part tariffs, collusion, and predatory pricing. Market imperfections and extensions including signaling, adverse selection, network externalities, and the economics of time. Empirical analysis: formulating economic questions, finding and analyzing relevant data, and presenting findings to non-specialists.
Prerequisite(s): ECON 2006 or BDS 2006 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3164 - Economics of Crime (3 credits) 
Introduction to the economic analysis of crime-control policies. Standard economic techniques are used to analyze crime-related data to understand crime-control policies. The economic framework of crime, where criminal behavior is analyzed as the result of rational decisions made by individuals who aim to maximize their well-being within society’s constraints, is crafted. Crime deterrence policies focus on how incentives to commit crimes can be altered through public policy. Types of crimes, social reforms, the broader effects of crime and social welfare, contemporary crime issues, and crime-control strategies.
Prerequisite(s): ECON 2005 and (STAT 3005 or STAT 3604) 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3174 - Sports Economics (3 credits) 
Critical evaluation of economic issues in college and professional sports to understand the unique characteristics that differentiate the sports industry from other markets. Economic models are applied to understand demand and sports revenue, sports broadcasting rights, team profits, winning, team location and league expansion, and competitive balance. Empirical economic evidence derived from sports-related data in valuing sports talents, history of sports pay, and labor relations in pro-sports. Impact analysis of subsidies, stadium funding, taxes, antitrust regulations, and competition in college and professional sports.
Prerequisite(s): ECON 2005 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3204 - Macroeconomic Theory (3 credits) 
Analytical exploration of the determinants of aggregate economic activity, focusing on national income, employment, price levels, and interest rates. Application of microeconomic optimization techniques to macroeconomic models and policy evaluation. Economic modeling of the interactions among households, firms, and policies in a general equilibrium setting. The roles of monetary and fiscal policy in influencing macroeconomic outcomes. Practical applications of macroeconomic models to current economic phenomena.
Prerequisite(s): ECON 2006 and ECON 3104 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3214 - Money and Banking (3 credits) 
Money and credit. The U.S. monetary system. Monetary theory, monetary policy and economic stabilization.
Prerequisite(s): (ECON 2005 or ECON 2025H) and ECON 2006 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3254 - Applied Econometrics (3 credits) 
Application of econometric methods to analyze and forecast economic relationships. Emphasis on the practical use of regression analysis, statistical software, and forecasting techniques to explore real-world economic data. Focuses on the interpretation and evaluation of results to solve economic problems, using a hands-on approach. Economic applications take priority over statistical theory, enabling students to apply methods for decision-making in policy and business contexts.
Prerequisite(s): STAT 3005 or STAT 3604 or STAT 3615 or STAT 4604 or STAT 4705 or STAT 4714 or CMDA 2006 or BIT 2406 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3314 - Middle East Economics (3 credits) 
Introduction to the economies of the Middle East and North Africa. Application of economic analysis to economic history and modern economic growth of the region. Historical role of a strong state and Islam in shaping the institutions of private property in Middle Eastern societies. The market for oil and the integration of the region into the global economy. The modern economy of the Middle East with focus on human capital development, inequality, and the role of women.
Prerequisite(s): ECON 2006 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 3884 - Topics in Philosophy, Politics, and Economics (3 credits) 
Topics-based course in philosophy, politics, and economics (PPE). Discussion of important topics and thinkers in PPE with historical and practical relevance. Focus on interdisciplinary analysis and methods. Topics include: limits of markets; well-being theory, science, and policy; socioeconomic justice; economic and political institutions; and global poverty. May be repeated 1 time with different content for a maximum of six credits hours. Pre: 3 credit hours in PPE, PHIL, PSCI, or ECON.
Pathway Concept Area(s): 2 Critical Thinking Humanities, 3 Reasoning in Social Sciences, 10 Ethical Reasoning 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Repeatability: up to 6 credit hours 
Course Crosslist: PHIL 3884, PPE 3884, PSCI 3884 
ECON 3914 - European Economics (3 credits) 
Microeconomics, macroeconomics and economic policies of the European Union. EU economic law, institutions, decision-making, and budgeting. Historic and current influences on regional economic development. Monetary and fiscal policies. Economic research methods, analysis, and reporting.
Prerequisite(s): ECON 2006 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: IS 3914, PSCI 3914 
ECON 3954 - Study Abroad (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 4014 - Environmental Economics (3 credits) 
Economic dimensions and aspects of programs designed to impose quality controls upon the environment. Special emphasis on problems of controlling air and water pollution.
Prerequisite(s): ECON 2005 or ECON 2025H 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4044 - Public Economics (3 credits) 
Economic rationale of the public sector. Proper size and functions of government. Market failure, Cost-benefit analysis, public goods provision. Pricing of public enterprise services.
Prerequisite(s): ECON 3104 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4054 - Public Finance (3 credits) 
The structure and incidence of taxation in the U.S. Effects of taxes on incentives and economic efficiency. Tax Policy.
Prerequisite(s): ECON 3104 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4074 - Labor Economics (3 credits) 
Human capital theory, labor supply and demand, discrimination, effects of labor unions and collective bargaining, wage differentials, income distribution.
Prerequisite(s): (ECON 2005 or ECON 2025H) and (ECON 3254 or ECON 4304) 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4084 - Industry Structure (3 credits) 
The structure and performance of American industry. Dimensions and measures of market structure. Factors affecting market structure. The relationship between structure and performance. Purpose and effects of antitrust policy, regulation, and other public policies toward industry.
Prerequisite(s): ECON 3104 or ECON 3154 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4124 - Growth and Development (3 credits) 
Theories of economic growth. Policies to foster growth, and their consequences.
Prerequisite(s): ECON 2006 and (ECON 2025H or ECON 3104) 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4135 - International Economics (3 credits) 
4135 International Trade: Factor mobility and commercial policy (tariffs, quotas, export licensing). 4136 International Finance: Liquidity, exchange rates, comparative international living standards, foreign aid.
Prerequisite(s): ECON 3104 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: AAEC 4135 
ECON 4136 - International Economics (3 credits) 
4135 International Trade: Factor mobility and commercial policy (tariffs, quotas, export licensing). 4136 International Finance: Liquidity, exchange rates, comparative international living standards, foreign aid.
Prerequisite(s): ECON 3204 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: AAEC 4136 
ECON 4144 - Economics of China (3 credits) 
Evolution of the Chinese economy since 1949. Exposition of alternative economic systems, the commune, incentive problems, and state owned enterprises. Analysis of recent reforms and their effects on economic efficiency; and key issues of economic transition related to Russia and other East European countries.
Prerequisite(s): ECON 3104 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4214 - Economics of Health Care (3 credits) 
Effects of medical care on health; cost and production of medical care; demand for medical care and its financing; structure of the health care industry; reorganization for efficiency.
Prerequisite(s): ECON 2005 or ECON 2025H 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4304 - Introduction to Econometric Methods (3 credits) 
An introduction to econometric modeling techniques, including regression methods. Particular emphasis on the special problems posed by economic data.
Prerequisite(s): ECON 3254 or STAT 3005 or STAT 4604 or STAT 4705 or STAT 4714 or CMDA 2006 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4314 - Big Data Economics (3 credits) 
Applied econometrics dealing with big data. Theoretical, computational, and statistical underpinnings of big data analysis. The use of econometric models and deep machine learning algorithms to analyze the high-dimensional data sets. Implications in research focusing on economic questions that arise from rapid changes in data availability and computational technology. Materials are hands-on tutorials that come with Python codes and real-world data sets.
Prerequisite(s): ECON 3254 or ECON 4304 or CMDA 3654 or STAT 3006 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: CMDA 4314 
ECON 4424 - The Theory of Games and Economic Behavior (3 credits) 
Introduction to games and solution concepts, such as prisoners dilemma, noncooperative equilibrium and Nashs bargaining solution. These concepts are applied in analyzing economic problems including bargaining problems, oligopoly and agency.
Prerequisite(s): ECON 3104 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4434 - Experimental Economics (3 credits) 
This is a course in the use of laboratory methods to study behavior in economics and the social sciences. Students will study state-of-the-art methodology in experimental economics, including experimental design, laboratory technique, financial incentives, and analysis of data. Students will participate in, design, and conduct experiments in bargaining, auctions, asset markets, public goods and commons situations, and risky decision-making.
Prerequisite(s): ECON 3104 and (BIT 2406 or MSCI 2406 or STAT 2004 or STAT 3005) 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4454 - Neuroeconomics (3 credits) 
Neural processes related to reward, learning, reflection, delay of gratification, and social interaction. Clinical uses of neuroeconomics research techniques. Implications of neuroeconomics in economics, policy, law and business.
Prerequisite(s): NEUR 2026 or ECON 3104 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: NEUR 4454, PSYC 4454 
ECON 4514 - Applied Analysis of Banking and Financial Markets (3 credits) 
Analysis of economic data with focus on understanding of decision-making in financial markets. Behavior of and optimal outcomes for individuals (consumption, savings, and investment), financial institutions (lending, borrowing, and risk management), regulators, and policy makers. Statistical tools and inference using recent data sets.
Prerequisite(s): ECON 3254 or ECON 4304 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4614 - R Programming in Economics (3 credits) 
Using R to combine economic theory and data. Focus on general R programming fundamentals related to data science techniques and economic data (gathering, standardizing and cleaning, analysis, and visualization). Hands-on experience with a variety of data, data sources, and techniques within R. Flaws and limitations of data. Direct application with individual project combining economic theory and data using R.
Prerequisite(s): ECON 2005 and (ECON 3254 or ECON 4304) 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 4754 - Internship in Economics (1-3 credits) 
Qualified students are placed in an industry or government position under the combined supervision of a faculty member and a responsible supervisor in the employing agency to apply disciplinary skills to contemporary problems and situations in a site-based work setting related to their career interests. Develop career-ready competencies including leadership, teamwork/collaboration, critical thinking/problem-solving, oral/written communication, professionalism/work ethic, digital technology, career management, and global/intercultural fluency . Satisfactory evaluation from employer, detailed reports on the internship experience and a specific project in which the student will recognize and summarize experience gained from the benefit of supervision and coaching from a professional in their field as the student evaluated the outcome of the internship experience. May be repeated one time with different content for a maximum of 6 credit hours. Pre: Three hours of appropriate advanced economics courses, Junior standing, a screening interview, good academic standing, and consent of the department required.
Prerequisite(s): ECON 2005 and ECON 2006 
Instructional Contact Hours: (1-3 Lec, 1-3 Crd) 
Repeatability: up to 6 credit hours 
ECON 4864 - Developing Behavioral Science Policies and Interventions (3 credits) 
Senior-level capstone course that involves producing and presenting original behavioral experimental research, supported by statistical analysis techniques suitable for drawing conclusions from behavioral experimental data. Design, statistical analysis, and evaluation of applied behavioral policies, interventions, or experiments on decision-making behavior. Ethical and societal implications of designing and testing behavioral interventions in the field and conducting experiments and behavioral interventions on human populations.
Corequisite(s): ECON/BDS 3134 or PPE 2894 or SOC 2004 
Pathway Concept Area(s): 5A Quant & Comp Thnk Adv., 10 Ethical Reasoning 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: BDS 4864 
ECON 4964 - Field Study (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 4974 - Independent Study (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 4974H - Independent Study (1-19 credits) 
Honors section.
Instructional Contact Hours: Variable credit course 
ECON 4984 - Special Study (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 4994 - Undergraduate Research (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 4994H - Undergraduate Research (1-19 credits) 
Honors section.
Instructional Contact Hours: Variable credit course 
ECON 5005 - Prices, Markets, and Resource Allocation (3 credits) 
This sequence, which is part of the core curriculum in the Economics Ph.D. program, covers fundamental concepts at the foundation of modern microeconomic theory. The sequence relies heavily on calculus and other mathematical tools. 5005: noncooperative game theory, competitive and non-competitive markets, theory of the firm. 5006: consumer theory, general equilibrium and welfare economics, uncertainty and asymmetric information.
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 5006 - Prices, Markets, and Resource Allocation (3 credits) 
This sequence, which is part of the core curriculum in the Economics Ph.D. program, covers fundamental concepts at the foundation of modern microeconomic theory. The sequence relies heavily on calculus and other mathematical tools. 5005: noncooperative game theory, competitive and non-competitive markets, theory of the firm. 5006: consumer theory, general equilibrium and welfare economics, uncertainty and asymmetric information.
Prerequisite(s): ECON 5005 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 5015 - Theory of Money, Income, Employment, and the Price Level (3 credits) 
A comprehensive introduction to modern macroeconomic theory, focusing on aggregate economic activity in both the short and long run. Emphasis on mathematical modeling and analytical methods used to analyze macroeconomic equilibrium and policy impacts. 5015: Consumption and investment behavior, labor markets. 5016: the determination of output and employment within neoclassical and Keynesian frameworks.
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 5016 - Theory of Money, Income, Employment, and the Price Level (3 credits) 
A comprehensive introduction to modern macroeconomic theory, focusing on aggregate economic activity in both the short and long run. Emphasis on mathematical modeling and analytical methods used to analyze macroeconomic equilibrium and policy impacts. 5015: Consumption and investment behavior, labor markets. 5016: the determination of output and employment within neoclassical and Keynesian frameworks.
Prerequisite(s): ECON 5015 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 5124 - Mathematical Methods in Economics (3 credits) 
Extensive treatment of new techniques for economic modeling. Review of linear algebra and calculus; static optimization, with Lagrangian and Kuhn-Tucker methods; differential and difference equations; dynamic optimization, with calculus of variations, optimal control and dynamic programming.
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 5125 - Empirical Research Methods in Economics (3 credits) 
Extensive treatment of new techniques for economic modeling. 5125: Probability and statistical inference, linear regression and related dynamic models, specification, estimation, misspecification, respecification, identification. 5126: Simultaneous equations, dynamic systems, time series, limited dependent variable models.
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: AAEC 5125 
ECON 5126 - Empirical Research Methods in Economics (3 credits) 
Extensive treatment of new techniques for economic modeling. 5125: Probability and statistical inference, linear regression and related dynamic models, specification, estimation, misspecification, respecification, identification. 5126: Simultaneous equations, dynamic systems, time series, limited dependent variable models.
Prerequisite(s): ECON 5125 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: AAEC 5126 
ECON 5134 - Managerial Economics (3 credits) 
Applications of price theory to applied managerial and business problems at the graduate level. Utility maximization and demand, price indices, and short- and long-run demand. Discrete choice and product quality, location choice, and human capital. Profit maximization, cost minimization, factor demand, and industry model. Durable goods, capital accumulation, and value of a statistical life. Empirical analysis: finding data from multiple sources, econometric analysis, and presenting findings to non-specialists. Students are assumed to have an understanding of principles-level microeconomics. Pre: Graduate Standing.
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 5154 - Empirical Industrial Organization (3 credits) 
Basic models and empirical tools in the field of Industrial Organization. Interactions of firms and consumers in markets. Estimation of demand systems. Models of oligopoly and anticompetitive practices. Contractual relationships between businesses. Empirical specification and estimation of static and dynamic models for understanding firm entry and market structure. Models of incentives under asymmetric information and their applications to electronic businesses, financial markets, and health insurance exchanges. Pre: Graduate standing.
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 5314G - Advanced Big Data Economics (3 credits) 
Applied econometrics dealing with big data. Theoretical, computational, and statistical underpinnings of big data analysis. The use of econometric models and deep machine learning algorithms to analyze the high-dimensional data sets. Implications in research focusing on economic questions that arise from rapid changes in data availability and computational technology. Materials are hands-on tutorials that come with Python codes and real-world data sets. Pre: Graduate Standing.
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 5894 - Final Examination (3 credits) 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 5904 - Graduate Instructor Workshop for Introductory College Economics (1 credit) 
Development of theoretical and practical skills for being a responsible instructor teaching undergraduate graduate level Economics courses. Designed to prepare graduate students to teach their own courses focusing on the responsibilities of being an instructor, from basic pedagogy that applies across disciplines to the specific online teaching tools and approaches used in Economics. The focus will be on preparing students to teach Principles of Economics (ECON 2005 and 2006).
Prerequisite(s): ECON 5016 and ECON 5126 
Instructional Contact Hours: (1 Lec, 1 Crd) 
ECON 5945 - Econometric Theory and Practice (3 credits) 
An intensive coverage of the most important techniques of econometric estimation and hypothesis testing, addressing the use of both cross-section and time series data. A core sequence in the MA program in both locations. Prerequisite to the research-thesis seminar in Northern Virginia.
Prerequisite(s): ECON 2115 or ECON 2116 or ECON 2005 or ECON 2006 or ECON 2125 or ECON 2126 or ECON 2025H or ECON 2026H 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 5946 - Econometric Theory and Practice (3 credits) 
An intensive coverage of the most important techniques of econometric estimation and hypothesis testing, addressing the use of both cross-section and time series data. A core sequence in the MA program in both locations. Prerequisite to the research-thesis seminar in Northern Virginia.
Prerequisite(s): AAEC 5126 or ECON 5126 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: AAEC 5946 
ECON 5964 - Experimental Economics (3 credits) 
Laboratory techniques are valuable for answering research questions which defy traditional empirical analysis due to lack of field data. Examples include proposed regulations, new market designs and tests of theory. The goal of this course is two-fold: to develop skills in experimental methods appropriate for economics and related fields and to familiarize students with the results of experimental tests of economic theory. Requirement: Graduate or honors undergraduate, major standing, and permission of the departmental director of graduate study or course instructor.
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 5974 - Independent Study (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 5984 - Special Study (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 5994 - Research and Thesis (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 6004 - Strategic Behavior (3 credits) 
Emphasizes strategic behavior in the presence of multiple decision makers. Game theory deals with strategic interaction and provides the formal framework to describe and analyze situations with conflicting interests--as well as situations with both common and conflicting interests. Proof of applicability is provided by means of numerical examples and real life cases, e.g., bargaining, contract theory, economic policy games, and voting.
Prerequisite(s): (ECON 5005 and ECON 5006) or (ECON 5005 and ECON 5006) 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 6014 - Behavioral Economic Theory (3 credits) 
Psychological, social, and cognitive factors in economic decisions. Topics include risk and ambiguity, intertemporal choice and self-control, bounded rationality, heuristics, emotions, social norms, social preferences, learning, attention, and inference. Applications include contracting, bargaining, labor, development, industrial organization, finance, and macroeconomics.
Prerequisite(s): ECON 5006 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 6024 - Advanced Topics in Econometrics Theory (3 credits) 
This course assumes a basic understanding of multiple regression and simultaneous equations modeling and introduces students to advanced econometric techniques commonly used in empirical work. These techniques include linear time series modeling in the time domain, discrete choice models, and panel data methods.
Prerequisite(s): ECON 5126 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 6054 - Development Economics (3 credits) 
A modern approach to economics of growth and development for graduate students in economics and related disciplines. Topics include sources of growth; neo-classical, endogenous, and dualistic theories of growth; households economics and human capital accumulation; economics of population; and consequences of imperfect market for land, labor and capital.
Prerequisite(s): (ECON 3104 and ECON 3204) or (ECON 3104 and ECON 3204) 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 6104 - Labor Economics (4 credits) 
Labor demand and supply, investment in human capital, discrimination in the labor market, and the theory of equalizing wage differentials; search and unemployment, unions, and income distribution.
Prerequisite(s): ECON 5005 
Instructional Contact Hours: (4 Lec, 4 Crd) 
ECON 6114 - Advanced Topics in Labor and Health Economics (3 credits) 
Research-oriented course covering topics in labor and health economics such as labor market externalities, social networks and social interaction effects, treatment effects and social program evaluation, health behaviors and health care, and social mobility. Analysis of popular datasets such as Add Health and The National Health Interview Survey. Theoretical and applied tools to assess policy-related arguments. Current research and key academic papers in the field, as well as the essential empirical methods and models used by economists.
Prerequisite(s): ECON 5126 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 6404 - Industry Structure (3 credits) 
Effects of industry structure on price and non-price behavior of firms, on market equilibrium, and on economic welfare. Problems of oligopolistic industries and analysis of government policies (regulation, anti-trust).
Prerequisite(s): ECON 5005 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 6554 - Panel Data Econometrics (3 credits) 
Introduction to major panel data techniques and modeling ideas currently employed (e.g., dynamic panel, panel for discrete choice model, treatment effect and program evaluations etc.), including both statistical theory derivations and practical applications.
Prerequisite(s): (AAEC 5125 or ECON 5125) and AAEC 5126 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: AAEC 6554 
ECON 6564 - Bayesian Econometric Analysis (3 credits) 
Bayesian estimation of economic models, with focus on Gibbs sampling, hierarchical modeling, data augmentation, and model search. Strong emphasis on programming and computational implementation.
Prerequisite(s): AAEC 5126 or ECON 5126 or STAT 5304 or STAT 5444 
Instructional Contact Hours: (3 Lec, 3 Crd) 
Course Crosslist: AAEC 6564, STAT 6564 
ECON 6614 - Philosophical Foundations of Econometrics (3 credits) 
The philosophical and methodological problems underlying econometric modeling and inference. Topics include the distinction between statistical and substantive significance, the proper interpretation of inference p-values, data mining, and other issues related to reliable inference and learning from data.
Prerequisite(s): ECON 5125 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 6704 - Frontiers of Macroeconomic Research (3 credits) 
Theoretical frameworks for real business cycle models, New Keynesian models, and monetary policy. Applying network theory and information theory to macroeconomics. Dynamic modeling, programming, and empirical macroeconomics.
Prerequisite(s): ECON 5006 and ECON 5016 
Instructional Contact Hours: (3 Lec, 3 Crd) 
ECON 6984 - Special Study (1-19 credits) 
Instructional Contact Hours: Variable credit course 
ECON 6994 - Research Seminar (1 credit) 
Review and discussion of current research in economics by students, faculty members, and guest speakers. This course may be repeated for a maximum of 6 credits. Students are required to have Doctoral Standing in Economics.
Instructional Contact Hours: (1 Lec, 1 Crd) 
Repeatability: up to 6 credit hours 
ECON 7994 - Research and Dissertation (1-19 credits) 
Instructional Contact Hours: Variable credit course