Dedman College
(2010 Undergraduate Catalog)

Dedman College Catalog Contents
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Economics

 www.smu.edu/economics

Professor Tom Fomby, Department Chair

Professors: Nathan Balke, Raveendra Batra, Rajat Deb, Tom Fomby, Kathy Hayes, Daniel Millimet, Santanu Roy, Kamal Saggi, Daniel Slottje, Shlomo Weber. Associate Professors: Thomas Osang, Saltuk Ozerturk. Assistant Professors: Bo Chen, Kyle Hyndman, Anna Kormilitsina, Isaac Mbiti. Senior Lecturer: James Cooley. Lecturers: Helen Reynolds, Rupinder Saggi, Elizabeth Wheaton.

Requirements for the Major. The student majoring in economics may choose among four degree plans. Each degree plan requires the student to take six core classes (ECO 1311, 1312, 3301 and 3302, MATH 1309 or 1337, and STAT 2301 or 2331 or 4340). Under each degree plan, the student is expected to take ECO 1311 and 1312 and MATH 1309 and 1337 during their first or second year. Finally, under each degree plan, the student must have a GPA of at least 2.0 in economics courses attempted, and the student must receive at least a grade of C- in all classes counting toward the major. MATH 1309 or 1337 is required prior to enrolling in ECO 3301 or 3302. STAT 2301, 2331 or 4340 is required prior to enrolling in any economics course at the 4000 level or above. Once the major is declared, due progress must be made in terms of course enrollment. If requirements change, the catalog in force at the time the major is declared prevails.

Requirements for the B.A. Degree. The B.A. degree in economics is designed primarily for students who want a liberal arts education with an emphasis on economics but with great breadth. This degree requires the six core classes and 18 hours of advanced economics* (defined as ECO 3355 and any economics course at the 4000 or 5000 level).

Requirements for the B.S. Degree. The B.S. degree in economics offers more specialized training in economics and provides a firm basis for graduate study in business, economics or law. This degree requires the six core courses; 24 hours in advanced economics* (defined as ECO 3355 and any economics course at the 4000 or 5000 level), of which at least six hours must be at the 5000 or above level; satisfaction of at least one of the approved subfields (listed below); and three additional hours of calculus (MATH 1338).

Requirements for the B.S. Degree With Finance Applications. The degree combines specialized training in economics with a concentration in areas significant to financial markets. This degree is particularly suited to those seeking a career in the financial sector. This degree requires the six core courses; 27 hours in advanced economics* (defined as ECO 3355 and any economics course at the 4000 or 5000 level) of which nine hours must be satisfied by ECO 3355, 4368 and 4378; at least six hours must be at the 5000 or above level; satisfaction of at least one of the approved subfields (listed below); ACCT 2301; and CSE 1340, 1341 or ITOM 3306 (only for business majors/minors).

Requirements for the B.S. Degree With Systems Analysis. The B.S. degree in economics with systems analysis offers integrated studies in economics, operations research and computer science. It provides excellent preparation for graduate education in economics, business or public administration and for service in both the public and private sectors where quantitative economists provide assistance in policy formulation. This degree requires the six core courses; 24 hours in advanced economics* (defined as ECO 3355 and any economics course at the 4000 or 5000 level), of which at least six hours must be at the 5000 or above level; satisfaction of at least one of the approved subfields (listed below); MATH 1338 and 2339; CSE 1341, 1342, 2341, 2353 and 3358.

* Excluding ECO 3321


Notes:
  1. ECO 3301 and 3302 require prior completion of MATH 1309 or 1337.
  2. All economics courses at the 4000 level or above require prior completion of STAT 2301 or 2331 or 4340.
  3. Additional recommended or required preparation for courses is indicated within the course descriptions.
  4. Questions concerning specific courses and the undergraduate program in general should be directed to Economics Department personnel.
  5. Each student majoring in economics is urged to consult a departmental adviser periodically to review their degree plan and progress.
  6. The three B.S. degree plans require the student to satisfy at least one subfield in economics when choosing advanced economic courses. Approved subfields are:

    Econometrics (2 out of 4)
    ECO 5350 Introduction to Econometrics
    ECO 5375 Economic and Business Forecasting
    ECO 5385 Data Mining Techniques for Economists
    ECO 6352 Applied Econometrics

    Economic Growth and Development (2 out of 4)
    ECO 5359 Economic Development: Microeconomic Perspectives
    ECO 5360 Economic Development: Macroeconomic Perspectives
    ECO 5361 Natural Resources and Energy Economics
    ECO 5362 Economic Growth

    Economics of Industrial Organization (2 out of 2)
    ECO 4371 Theory of Industrial Structure
    ECO 4382 Economics of Regulated Industry

    International Economics (2 out of 2)
    ECO 4357 International Trade
    ECO 4358 International Macroeconomic Theory and Policy

    Labor Economics (2 out of 3)
    ECO 4351 Labor Economics
    ECO 4361 Economics of Education
    ECO 5357 Economics of Human Resources

    Economics of Decision-Making (2 out of 5)
    ECO 5340 Decision-Making Under Uncertainty
    ECO 5341 Strategic Behavior
    ECO 5342 Experimental and Behavioral Economics
    ECO 5353 Law and Economics
    ECO 5355 Political Economics
    Monetary Economics (2 out of 2)
    ECO 4385 Macro Theory and Policy
    ECO 4386 Topics in Monetary Economics

    Public Economics (2 out of 4)
    ECO 4366 Economics of the Public Sector
    ECO 5320 Health Economics
    ECO 5365 Public Finance
    ECO 5370 Cost-Benefit Analysis
Departmental Distinction. The student majoring in economics with sufficiently high standing may graduate with departmental distinction by pursuing a rigorous independent research project under the direction of a faculty sponsor. The research will occur while enrolled in ECO 4398. The project will be presented to the faculty sponsor and director of Undergraduate Studies at the end of the term.

Requirements for the Minor. The student majoring in other departments may obtain a minor in economics by completing the six core courses (ECO 1311, 1312, 3301, 3302, MATH 1309 or 1337, and STAT 2301 or 2331 or 4340) and two advanced courses at the 4000 or 5000 level. In addition, the student must have a GPA of at least 2.0 in economics courses attempted, and the student must receive at least a grade of C- in all classes counting toward the minor. Nonlecture classes cannot be used toward an economics minor.

Students may either obtain a general minor in economics or a minor in a specialized field (international economics, public economics, labor economics, econometrics, economic growth and development, monetary economics, economics of decision-making, and economics of industrial organization). The specialization may be obtained if six hours of 4000- and 5000-level courses constitute one of the above eight fields currently approved by the Economics Department.

For more information about the Economics Department, visit www.smu.edu/economics.

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The Courses (ECO)

 1310. Exploring Economic Issues. Discusses current economic issues and problems in a suitable manner for students not majoring in economics or related sciences. No prerequisites. No credit is allowed for students who have received credit for ECO 1311 or 1312.

1311. Principles: Consumers, Firms and Markets (Microeconomics). Enables a concerned citizen to make an intelligent appraisal of current controversies relating to consumers and producers. Explains tools of economic analysis. No prerequisites.

1312. Principles: Inflation, Recession and Unemployment (Macroeconomics). The second term of a liberal arts education sequence discusses issues such as inflation, unemployment and growth from both national and global perspectives. Tools of economic analysis include models of open economies. Prerequisite: C- or better in ECO 1311.

2301. Topics in Economics. Topics vary. Course may not be used to satisfy requirements for an economics major or minor. Prerequisite: C- or better in ECO 1310, 1311 or 1312.

3301. Price Theory (Intermediate Microeconomics). Considers more advanced problems of microeconomics. The focus is on understanding how consumers behave, how firms make pricing and output decisions, and the structure of markets and how this impacts the behavior of firms and consumers. Economic theory postulates certain behavioral rules for consumers and firm managers, and makes certain assumptions concerning the institutional structure of society (its laws, property rights, customs, etc.). Various testable propositions can be derived from the operation of the society's economic system. These propositions are investigated by working through actual models. Prerequisites: C- or better in ECO 1311 and 1312, and MATH 1309 or 1337.

3302. National Income and Employment (Intermediate Macroeconomics). This course is designed to investigate the factors that influence the level of aggregate income in an economy. It attempts to study the decision-making that ultimately results in the determination of the levels of consumption, investment or employment. For the most part, primitive general equilibrium models are employed to investigate these questions, as well as to analyze the impact of various government fiscal policies. The behavior of business cycles and patterns across various countries is also analyzed. Prerequisites: C- or better in ECO 1311 and 1312, and MATH 1309 or 1337. Corequisite: ECO 3301.

3321. International Economic Policy. Examines the facts and theories of international trade and finance. Emphasis is placed on analyzing current issues such as the U.S. trade deficit, policies toward multinational firms, and harmonization of fiscal and monetary policies among countries. Prerequisites: C- or better in ECO 1311 and 1312. Note: ECO 3321 cannot be taken after or concurrent with ECO 4357, and credit for this course cannot be used toward an economics major or minor.

3355. Money and Banking. Analyzes central and commercial banking for students majoring in economics, business and related sciences. A student may not receive credit for both ECO 3355 and FINA 3330 Money and Capital Markets. Prerequisites: C- or better in ECO 1311 and 1312. Note: Course enrollment restricted to economics majors/minors only.

4101, 4201, 4301. Topics. (to be specified in title) Prerequisites: C- or better in ECO 3301 and 3302, or permission of instructor.

4351. Labor Economics. This course is an introduction to the study of labor economics. It provides an overview of labor supply and labor demand models, with extensions to models of taxes and tax credits, welfare and social security. The focus then shifts to models of wage determination and extensions such as the effects of minimum wage, performance-based pay, unions and discrimination. This course will be equally devoted to both theoretical and empirical analysis of these issues. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

4357. International Trade. The purpose of this course is to provide an understanding of international trade in goods and services among countries and to develop a framework for analyzing trade policy issues. Major topics covered include the determinants of trade; the gains from trade; the relation between trade and foreign direct investment; trade and labor migration; the effects of trade restrictions such as import tariffs or export subsidies; and the analysis of regional economic integration such as the European Union or NAFTA. The course covers only the real effects of trade; international financial issues will not be treated. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

4358. International Macroeconomic Theory and Policy. This course examines the monetary aspects of international economics. Implications of contemporary banking and foreign exchange practices are explored, as are interpretations given to changes in the structure of a nation's balance of payments. Central attention is given to the macroeconomic interactions among national economies and international systematic adjustments expected from market disturbances and shifting government policies. Students will evaluate the operation of the international monetary system from the gold-standard period to the present. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

4361. Economics of Education. An economic analysis of the state of the U.S. educational system. Topics include trends in academic achievement, educational production functions, teacher labor markets and educational reforms. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

4365. State and Local Government Finance. Many government expenditures and taxes that impact everyday life are provided and largely financed by state and local governments. These include police and fire protection, public education, sanitation and refuse removal, street and road maintenance, water supply, recreation, and environmental protection. In this course, we will study how state and local governments make decisions about what services to provide and make decisions about how to finance them. Prerequisites: C- or better in STAT 2301, 2331 or 4340, MATH 1309 or 1337; recommended: ECO 3302.

4366. Economics of the Public Sector. This course discusses both the positive and normative aspects of government expenditures. The focus is on theoretical principles useful for analyzing the role of government intervention. Problems of market failures due to externalities and the presences of public goods (like national defense) serve as the starting point for explaining why government spending occurs. The free-rider problem and incentive mechanisms for preference revelation are covered. A brief survey of voting and social-choice models is presented. Specific government expenditure policies are explored. These topics may vary from year to year. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

4368. Foundations of Financial Economics. This course applies the tools of economic analysis to financial decision-making. Emphasis is placed on developing a framework for understanding the economic nature of these problems and their solutions. Topics include the introduction to financial economics, time value of money, investment decisions, risk and return, capital asset pricing model, capital budgeting, capital structure, dividend policy, hedging, mergers and acquisitions, and international financial management. Prerequisites: C- or better in ECO 3301, 3355, ACCT 2301, MATH 1309 or 1337, and ITOM 2305 or STAT 2301, 2331 or 4340. Note: ECO 4368 cannot be taken if student has taken FINA 3320. Course enrollment restricted to economics majors/minors only.

4371. Theory of Industrial Structure. This course focuses on the structure (internal organization) and behavior (market strategy) of firms in the market place. Firm structure and behavior are worth studying, since most real markets violate the standard of competitive assumptions and, therefore, may not maximize social welfare. This course considers both the exercise of market power (e.g., price discrimination) in relatively simple markets with a single firm as well as the more complicated exercise of market power (e.g., limit pricing, product differentiation, vertical foreclosure) in markets with multiple firms. Particular attention is paid to such policy-relevant issues as the relationship between market concentration and market power and the relationship between "meeting the competition" and predatory pricing. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

4376. Special Topics in Economic History and Development. Economic principles are used to explore important and controversial questions. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

4378. Financial Economics and Investment Behavior. The objective of this course is to give the student a theoretical basis for financial analysis within the context of the total process of investment decision-making. Theoretical foundations will be developed for the analysis of equities and bonds as well as portfolio performance. Prerequisites: C- or better in ECO 3301, 4368 or FINA 3320, MATH 1309 or 1337, and ITOM 2305 or STAT 2301, 2331 or 4340, or permission of instructor. Note: ECO 4378 cannot be taken if student has taken FINA 4320 or FINA 4326. Course enrollment restricted to economics majors/minors only.

4382. Economics of Regulated Industries. The existence of government regulation of business prompts economists to ask both why such regulations exist and what impact they have on firms' behavior, market structure (in particular, firms' market shares) and social welfare. The parallel goals of the course are to provide 1) a solid analytical foundation for investigating the above questions and 2) a thorough and detailed description of the most important government regulations (including antitrust, product quality, and patent laws). Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

4385. Macroeconomics: Theory and Policy. The purpose of this course is to take students beyond the traditional macroeconomics course. Among the topics examined are new developments in the analysis of business cycles, the causes and consequences of inflation and the sources of economic growth. Special emphasis is placed on "taking theory to the data," so that students begin to see more clearly how to evaluate current macroeconomic theories and controversies. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.
4386. Topics in Monetary Economics. Monetary economics is one of the largest fields in economics. Rather than touching on a large number of topics, this course will provide students who have had intermediate macroeconomics with a course where fewer topics in monetary economics are covered intensively at a more advanced level. The course will take an in-depth look at selected topics of current interest in the field of monetary theory and policy. The topics covered may vary from year to year. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

4390. Independent Study in Economics. By arrangement with departmental director of Undergraduate Studies. Eligible students undertake a research paper under the supervision of the faculty sponsor and give an oral presentation of the paper. Note: This course can be taken only once. Prerequisites: ECO 3301, 3302, two advanced economics classes (4000 level or above), a 2.5 GPA in economics classes, C- or better in MATH 1309 or 1337 and one of the following: STAT 2301, 2331 or 4340.

4391. Development of Economic Doctrine. Analyzes the development of modern economics. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

4395. Economics Internship. Undertake an analysis of a particular economics problem at the interning firm or organization, complete a research paper under the supervision of a faculty sponsor, and give an oral presentation of the paper. Prerequisites: ECO 3301, 3302, two advanced economics classes (4000 level or above), a 3.0 GPA in economics classes, C- or better in MATH 1309 or 1337 and one of the following: STAT 2301, 2331 or 4340.

4396. Business and Economic Forecasting Internship. Similar to ECO 4395, but with a focus on an econometric analysis of a particular empirical issue appropriate to the interning firm or organization. Prerequisites: ECO 3301, 3302, 5350 and 5375, a 3.0 GPA in economics classes, C- or better in MATH 1309 or 1337 and one of the following: STAT 2301, 2331 or 4340.

4397. Law and Economics Internship. Similar to ECO 4395, but with a focus on the economic and legal analysis of a particular issue appropriate to the interning firm or organization. Prerequisites: ECO 3301, 3302, 5353, one other advanced economics course (4000 level or above), a 3.0 GPA in economics classes, C- or better in MATH 1309 or 1337 and one of the following: STAT 2301, 2331 or 4340.

4398. Departmental Distinction in Economics. By arrangement with departmental Director of Undergraduate Studies. Eligible students undertake a research paper under the supervision of the faculty sponsor and give an oral presentation of the paper. Prerequisites: ECO 3301, 3302, two advanced economics courses (4000 level or above), 3.7 GPA in economics classes, 3.5 GPA overall, senior standing, C- or better in MATH 1309 or 1337 and one of the following: STAT 2301, 2331 or 4340.

4399. Research/Reading Seminar in Economics. The research/reading seminar is designed for honors students and other exceptional undergraduate students at the junior or senior level who would like to investigate a select number of topics in economics in great depth. Under the guidance of a faculty member, the students will read a number of professional journal articles and books in economics and discuss the assigned readings in a seminar format. Note: This course can only be taken once. Prerequisites: ECO 3301, 3302, 3.5 GPA in economics classes (or related major), 3.0 GPA overall, or permission of instructor, C- or better in MATH 1309 or 1337 and one of the following: STAT 2301, 2331 or 4340.

5101, 5201, 5301. Topics. (to be specified in title) Prerequisites: C- or better in ECO 3301, 3302, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

5320. Health Economics. An introduction to the economics of health and health care policies and how they have affected the structure, function and cost-effectiveness of the health care industry, principally in the United States. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

5337. Urban Economics. This course applies economic concepts to an understanding of urban form, urban growth, trends in size and structure of urban areas, and the predominant urban public issues of transportation, housing, land-use planning, and environmental controls. This course provides an opportunity to study particular topics in depth. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

5340. Decision-Making Under Uncertainty. Provides a basis for the modeling of decision-making under conditions of incomplete information. Prerequisites: C- or better in ECO 3301, 3302, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

5341. Strategic Behavior. This course introduces the basic concepts and tools of game theory, with applications to various areas of economics. In particular, we study how individuals and firms behave when they are well aware that their decisions affect the behavior of others. The areas of application are numerous and diverse: technology adoption, bargaining between labor unions and management, insurance, welfare policies, optimal pricing and location, division of an estate, strategy on the battlefield, etc. The various topics are unified by the techniques employed for determining the outcome in particular situations. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

5342. Experimental and Behavioral Economics. Students study the field of behavioral economics in which the underlying assumptions of economics models are tested using experimental techniques. Guided by behavioral regularities, new models of behavior are introduced. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340. Recommended: ECO 5341, 5350.

5350. Introductory Econometrics. Discusses the economic analysis of quantitative data and introduces computer analysis. Prerequisites: C- or better in ECO 3301, 3302, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340 or ITOM 2305.

5353. Law and Economics. Dick's advice in Henry VI, "Let us first kill all the lawyers," is well taken, but impractical. For better or for worse, laws and lawyers are becoming more and more important in defining how we live and how our economy operates. This course is designed to apply the tools of economic analysis to legal questions. The primary purpose of this course is to examine economic theories that explain the development of common law and constitutional law. Secondly, the course will look at the economic implication of certain laws, particularly laws regulating contracts, antitrust laws and liability rules. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

5355. Political Economics. This course is a study of both methods and applications of political economics models via theoretical and empirical investigation of various topics with emphasis on asymmetric information, income redistribution and fairness, federalism and formation of institutions, and strategic behavior of special interest groups. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

5357. Economics of Human Resources. This course examines several topics of interest to modern labor economists: individual labor supply and time allocation, human capital investments and the return to education, unemployment, job search, minimum wage, children and marriage, inequality, income mobility and immigration (both legal and illegal). The course will be equally devoted to theoretical modeling and interpreting empirical evidence, and to the analysis of policies such as subsidizing education, unemployment insurance, minimum wage, and restriction of immigration. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340. Recommended: ECO 4351.

5359. Economic Development: Microeconomic Perspectives. A microeconomic examination of various economic issues faced by developing countries. Topics include intrahousehold resource allocation, rural and urban labor markets, migration, and credit and insurance markets. Prerequisites: C- or better in ECO 3301, 3302, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340. Note: Students who have taken ECO 5360 prior to fall 2007 will not receive credit for this course.

5360. Economic Development: Macroeconomic Perspectives. A macroeconomic examination of the economic issues faced by developing countries. Topics include population growth, national savings, capital accumulation, human capital formation, government institutions and international integration. Prerequisites: C- or better in ECO 3302, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

5361. Natural Resources and Energy Economics. This course is designed to develop an understanding of the economics of energy and natural resource use and policy. Topics include natural resource supply and demand, the economics of renewable and non-renewable resource usage, sustainable economic growth, the environmental effects of natural energy conservation, energy security and the (de)regulation of U.S. electricity and natural gas markets. Prerequisites: C- or better in ECO 3301, 3302, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

5362. Economic Growth. This course examines the facts and theories of economic growth, the economics of technological change and the role of governments and markets in promoting or impeding economic development. Prerequisites: C- or better in ECO 3301, 3302, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

5365. Public Finance. This course covers the theories of the public sector. Applications of these theories will vary year to year. Problems of market failures, externalities, and preference revelation will be examined. Specific government expenditure policies will be analyzed. The course also develops the principles to be used when evaluating a specific tax. This framework includes efficiency and equity considerations. These concepts are used to investigate specific revenue sources such as taxes on personal income and corporate income. Prerequisites: C- or better in ECO 3301, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340. Recommended: ECO 3302.

5370. Cost-Benefit Analysis. Individual economic decisions coordinated through a fully functioning set of competitive markets guarantee an efficient outcome. However, in a large number of instances markets may fail to operate satisfactorily, requiring the government to intercede to promote efficiency and/or equity. This course introduces students to the tools for evaluating alternative methods of government intervention. In particular, it develops a framework for evaluating costs and benefits of economic projects from the government's point of view. Prerequisites: C- or better in ECO 3301 or graduate standing, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

5375. Economic and Business Forecasting. Presentation of methods used by economists to forecast economic and business trends and ways of evaluating the usefulness of these methods. Prerequisites: C- or better in ECO 2301, 2331, or ECO 4340 or ITOM 2305.

5380. Computing for Economics. Economic analysis with emphasis on the use of programs and computer packages. Topics include software assessment for use in economics, statistics software applications in economics, matrix language packages, computer algebra and linear programming applications. Prerequisites: C- or better in ECO 3301, 3302 and 5350, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340 or ITOM 2305.

5385. Data Mining Techniques for Economists. A study of data mining techniques used by economists in the fields of applied economics, marketing and finance. These techniques include classification methods, affinity analysis, and data reduction and exploration methods. Prerequisites: C- or better in ECO 5350 or an equivalent course, and one of the following: STAT 2301, 2331 or 4340.

5390. Mathematical Finance: Theory and Applications. A study of selected topics in finance (such as capital asset pricing, options and their valuation, analytics of credit derivatives) that combines theory with actual applications in the financial profession. Prerequisites: C- or better in ECO 4368, 4378 and 5350, MATH 1309 or 1337, and one of the following: STAT 2301, 2331 or 4340.

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