2023-2024 Course Catalog
Welcome to Virginia Tech! We are excited that you are here planning your time as a Hokie.
Welcome to Virginia Tech! We are excited that you are here planning your time as a Hokie.
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.
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. Does not count toward ECON major.
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.
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.
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.
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.
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.
Honors section.
The economic analysis of current issues and problems. This course may be repeated with different topic.
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.
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.
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.
Theories of demand, production, perfectly and imperfectly competitive price determination, and general market equilibrium. Analytic applications.
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.
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.
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.
Theories of the determination of the level of aggregate economy-wide activity. Employment, the price level, aggregate national income, and the interest rate. The roles of money and expectations.
Money and credit. The U.S. monetary system. Monetary theory, monetary policy and economic stabilization.
Sources of economic data. Application of spreadsheet and/or statistical software to analysis of economic relationships using graphical and regression techniques. Emphasis is on economic applications rather than statistical theory.
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.
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.
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.
Economic dimensions and aspects of programs designed to impose quality controls upon the environment. Special emphasis on problems of controlling air and water pollution.
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.
The structure and incidence of taxation in the U.S. Effects of taxes on incentives and economic efficiency. Tax Policy.
Human capital theory, labor supply and demand, discrimination, effects of labor unions and collective bargaining, wage differentials, income distribution.
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.
Theories of economic growth. Policies to foster growth, and their consequences.
4135 International Trade: Factor mobility and commercial policy (tariffs, quotas, export licensing). 4136 International Finance: Liquidity, exchange rates, comparative international living standards, foreign aid.
4135 International Trade: Factor mobility and commercial policy (tariffs, quotas, export licensing). 4136 International Finance: Liquidity, exchange rates, comparative international living standards, foreign aid.
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.
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.
An introduction to econometric modeling techniques, including regression methods. Particular emphasis on the special problems posed by economic data.
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.
Economic theories of organization, with specific attention to their internal structure, and to design of incentive systems. Application to mergers, to the relationship between stockholders and managers, etc. Students with one year of economics, calculus and major in some other social science, by permission of the instructor.
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.
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.
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.
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.
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.
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. Satisfactory evaluation from employer, detailed reports on the internship experience and a specific project will be required of each intern. Pre: Junior standing, QCA of 2.50 or better and consent.
Senior-level capstone course to apply theories and models from behavioral decision science to real world problems on topics from education, organizations, health, crime, environment, and volunteerism. Utilize behavioral science theories, data and analytical frameworks from research papers to define and analyze problems or unintended consequences resulting from individual decision-making. Emphasis on identifying specific problems, formulating behavioral policies or interventions to improve performance, and designing experiments and randomized controlled trials to test their effectiveness.
Analysis of the economic effects of legal rules, with emphasis on the law of property, contract, liability, and land use.
Honors section.
Honors section.
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