Search Google Appliance


Course Descriptions & Schedule

Course Schedules

Tentative schedules are subject to change. Please see the PSU online course schedule for the most up to date information.

Course Descriptions

Important Prerequisite Note: All courses in Economics will be taught with the assumption that the student has successfully completed all of the prerequisites, including those listed as 'Recommended'; that is, 'Recommended Prerequisites' are viewed as required. If you have any doubt as to whether you can meet the prerequisites for the course, you must see the instructor before the course begins.

 

UNDERGRADUATE COURSES (for BA/BS Degree Students) 
(Skip to Graduate Courses)


EC 200 - Contemporary Economics Issues (4) (not offered every year)
Introduction to economists' approaches to some of the most pressing, current political and economic issues. Topics will vary depending upon the instructor, but are likely to include the sources of economic development and growth, what constitutes a desirable standard of living and quality of life, analyses of poverty and inequality, economic pressures on the family, and strategies for environmental sustainability.

EC 201 - Principles of Economics-Micro (4)
A study of the market system involving the essentials of demand and supply analysis; competition and monopoly; labor; public policy toward business; the distribution of income; international trade and commercial policy; comparative advantage, tariffs and quotas.

EC 202 - Principles of Economics-Macro (4)
A study of factors affecting the level of national income: the essentials of money and banking; the role of government expenditure and taxation in achieving economic stability, growth and development; international monetary issues including exchange rates and the balance of payments.  Prerequisite:  EC 201.

EC 311 - Microeconomic Theory (4) 
Theories of consumer behavior and demand, production and cost, the firm and market organization, strategic behavior and functional income distribution. This course cannot be counted as credit for economics graduate students, but may be taken by graduate students in other programs.  Prerequisite: EC 201.

EC 312 - Macroeconomic Theory (4)
Examines tools and models to analyze factors influencing the levels of output, employment and prices. Fundamentals of the theory of business cycles, economic growth, inflation.  The role of government in dealing with these and related problems. This course cannot be counted as credit for economics graduate students, but may be taken by graduate students in other programs. Prerequisites:  EC 202, EC 311 or consent of instructor.

EC 314 - Private and Public Investment Analysis (4)
Examines the tools required to analyze expenditures that yield benefits over time-investments. The use of accounting documents and a focus on the time value of money allows students to analyze choices in a variety of security, loan and equipment investment decisions.

EC 316 - Introduction to Health Care Economics (4)

 Provides an introduction to basic economic concepts that are most relevant to the study of the health care system. Examines the efficiency and equity implications of providing health care under the traditional fee-for-service system versus providing health care under the relatively new systems of health-care delivery such as health maintenance organizations (HMOs), preferred provider organizations (PPOs), etc. Compares the American health care system to the systems employed in other developed countries. Special attention will be paid to the delivery of health care in Oregon.

EC 321 - Fundamentals of Game Theory (4)
 Introduction to the theory of games and their applications in economics. Examines how some broad classes of games can be used to study the strategic choices of economic agents under circumstances of imperfect competition and/or information.

 EC 332 - Economics of Environmental Issues (4)
Examines several local, national and global environmental issues. Students will be introduced to some basic economic concepts and tools fundamental to understanding the social, economic and environmental impacts of current and proposed environmental policies.

*EC 338 - The Political Economy of Latin American Development (4)
Provides students an opportunity to analyze the political and economic complexities of development in Latin America. Studies the social, political and economic institutions that have shaped the development process in Latin America; reviews competing theoretical frameworks; and discusses current issues such as the foreign debt, privatization, trade liberalization and recurrent financial crises.

*EC 339 - Political Economy of Japanese Development (4)
Key topics in the economic development of Japan in modern times. Investigation of political, social and historical factors that enabled Japan to achieve its "miraculous" development since 1867 through the post-WWII era. Examination of aspects of Japan's experience that can be applicable to development issues of other countries.

EC 340 - International Economics (4)
Examines trade and financial relations among countries with an emphasis on policy perspectives. Outlines international policy options and the principles that govern world trade and financial arrangements. Regional and international trade organizations and currency arrangements will be discussed.

EC 345 - Marxist Political Economy (4) 
An inquiry into the contribution to social and economic thought advanced by Karl Marx. Based on reading and interpreting primary sources. Considers the legacy of Marx's ideas on the course of history in the 20th century, and the potential influence in the 21st century.

*EC 348 - The Globalization Debate: Concept, History and Theory (4)

Works to clarify the meaning and conception of globalization. Analyzes its roots from a historical and evolutionary perspective dating from the nineteenth century, on to the present and future prospects. Applies an interdisciplinary methodology to present both the pros and cons of the globalization debate dealing with the World Trade Organization, environmental, third world development and labor concerns. Applies different economic theories to explain and analyze globalization in the context of the evolutionary dynamics of economic development.

EC 350 - Economics of Developing Countries (4)

The economics of most of the world. Examines the concept and history of development, the causes of economic growth, poverty and inequality, population growth, education and health, sustainable development, the impact of international trade, and foreign aid.

EC 380 - Introduction to Mathematical Concepts (4)

 Economic concepts are explored using mathematical methods. Applications are drawn from a wide range of fields in economics including microeconomics, macroeconomics, economic growth, international trade, international finance, labor and environmental economics, industrial organization and development economics. Mathematical methods utilized include equations, functions, sets total and partial differentiation, and linear algebra. Prerequisites: MTH 251, EC 201, EC 202.

EC 399 - Special Studies (Credit to be Arranged)

EC 401 - Research (Credit to be Arranged)

 Consent of Instructor

EC 403 - Honors Thesis (Credit to be Arranged)

(Consent of instructor)



EC 404 - Copperative Education / Internship (Credit to be Arranged)

(Consent of instructor)


By prior arrangement with a faculty member, economics majors may integrate their practical experience with an economics issue into their academic education. Students are expected to provide a brief proposal of the topic they wish to pursue, demonstrating some familiarity with the economics literature in the area and the way in which their internship or other experience will illustrate practical aspects of the proposed topic. Evaluation on the basis of written and oral syntheses of academic and practical knowledge. Only in unusual circumstances will more than 4 credits be granted for cooperative education/internship. Prerequisites: Ec 201, Ec 202 and consent of instructor.

EC 405 - Reading & Conference (Credit to be arranged)
Consent of Instructor

EC 409 - Practicum (Credit to be Arranged)

By prior arrangement with the department, economics majors may receive a maximum of 3 credits in their total undergraduate program for economics research done in the community in conjunction with guided reading and regular consultations with an instructor. Prerequisites: recommended EC 201, EC 202, and consent of instructor.

EC 410 - Selected Topics (4)
Varies each term; click here for course descriptions.

*EC 411 - Cultural Economics (4)
Focus is on a general theory of economic development and growth in the conceptual framework of culture and its evolution. The economic process fed by the dynamics of technological change is analyzed in cultural and social terms in the tradition of institutional and/or evolutionary economics. This framework is relevant and will be applied to current issues such as: globalization, trade, jobs and the environment, sustainable development, corporate power, cultural lags and social justice.

EC 417 - Women in the Economy (4)
Different economic theoretical perspectives are presented to account for women's particular economic roles currently and historically. Emphasis on women's responsibility for child rearing and housework; women's relatively low wages; occupational segregation by gender; economic differences among women due to ethnicity, generation and class; and policy issues with particular importance for women's economic situation. Prequisite: recommended EC 201.

EC 418 - Economics Department Seminar 


 Economics majors, minors, graduate students and other students currently enrolled in an economics course may enroll in the Economics Department Seminar, which brings academic and professional economists to campus to present research on a wide variety of topics, using the spectrum of methodological approaches. Prerequisites: junior standing.


*EC 419 - Economics of Race and Ethnicity (4) 
Survey of the economic history of ethnic groups in the United States, various economic theoretical perspectives advanced to account for past and current experience of people of color in the U.S. economy, and examination of selected economic policy issues. Prerequisite: recommended EC 201.

*EC 420 - Money And Banking (4) 
Functional and empirical definitions of money and interest rates. Characteristics and role of bank and non-bank financial institutions in determining the level of money and interest rates. History of the Federal Reserve System. Instruments of monetary control by the Federal Reserve. Alternative models of monetary influence on the economy. Prerequisites: EC 201, EC 202, and EC 312 or consent of instructor.

*EC 425 - Economics of Industrial Organization (4)
Study based upon the application of microeconomic theory to the analysis of firms, markets and industries. Search for economic explanations for the structure of markets and for the behavior of the firms which trade in them. Seeks also to explain the internal organization of firms and to assess the efficiency of the market in determining organization. Prerequisites: EC 201, EC 311 or consent of instructor. 

*EC 426 - Economics of Regulation (4)
Study of government regulation designed to control - or at least to influence - the performance of the market in specific ways. Historical and economic analyses of three main forms of regulation: direct regulation of monopoly and competition, and social regulation to protect the environment and the individual. Recommended: EC 201.

EC 427 - Cost-benefit Analysis(4)
Main theory and empirical methodologies for assessing costs and benefits of projects with varying timeframes and levels of uncertainty. Focus on public projects, including environmental, infrastructure and social service activities. Methodologies for valuation of nonmarketed goods, such as environmental services, also covered. Prerequisite: EC 201.

EC 430 - Resource & Environmental Economics (4)
Overview of different approaches to economic analysis of resources and environment, and fundamental issues of economy/environment interactions, as well as the emerging subject of sustainability. Covers the basics of standard environmental and resource economics including the theory of externalities, resource allocation over time, common property resources, public goods and valuation. Includes an overview of the economic dimension of policies designed to protect and improve environmental quality and protect and efficiently manage natural resources. Prerequisite: EC 201.

*EC 431 - Urban Economics (4)
Functions of the urban economy: the market sector and the public sector. Economic analysis of issues such as land use, environmental quality, transportation, housing, income distribution, and the organization and financing of urban public services. Prerequisite: recommended EC 201, EC 202. This course is the same as USP 431/531; course may only be taken once for credit.

EC 432 - Environmental Economics (4)
Examination of the economics of environmental degradation, externalities and pollution control. Emphasis is on the theoretical aspects of market failure, policies/regulations to promote efficient outcomes, and policy applications. Prerequisites: EC 311, EC 430/530, or consent of instructor. EC 469 or equivalent recommended.

EC 433 - Advanced Natural Resource Economics (4) 
An examination of the economic concepts and theories for analyzing natural resource production, extraction and use. Focus on natural resources such as land, minerals, forests, fisheries and wildlife and the barriers to achieving sustainability. Regional, national and international case studies used to illustrate key policy issues. Prerequisites: EC 311, EC 430, or consent of instructor. EC 469 or equivalent recommended.

EC 434 - Business Environmental Management Economics (4) 
Examines the economic costs and benefits that affect the decisions of business firms to develop integrated environmental management systems. Analysis of policy options to foster business environmental management for public goods. Case studies of selected firms. Recommended: EC 201. 

EC 435 - Public Spending and Debt Policy (4)
Analysis of the role of the state in a competitive economy. Development of decision rules for state economic action. Includes a detailed study of the principles of voting, public budgeting including cost benefit analysis and PPBS, the theory of fiscal federalism and the theory and principles of public debts. Recommended: EC 201, EC 202.

EC 436 - Taxation and Income Policies (4)
Principles and problems of government financing. Critical analysis of alternative taxes as sources of public revenue with emphasis on theories of incidence and economic effect. Recommended: EC 201, EC 202.

EC 437 - Public Utility Economics (4)
Examines the rationale, economic principles and institutions of historic economic regulation. Contemporary theory of the firm and microeconomic pricing are analyzed. Technological changes suggest that to achieve economic efficiency it may no longer be necessary or appropriate to subject energy and telecommunications firms to traditional utility regulation. There is academic enthusiasm for displacing economic regulation with competition. Deregulation and restructuring are explored with emphasis on contemporary issues in Oregon, the Pacific Northwest, and the nation. In particular, difficulties in transformation to the marketplace will be examined. Expert guest lecturers from the utility and regulatory communities will be scheduled, and contemporary scholarly literature will be reviewed. Recommended: EC 201, EC 202.

EC 440 - International Trade Theory and Policy (4)
Theories of international trade. Analysis of the normative aspects of trade including the gains from trade and the effect of trade on economic welfare. Examination of international trade policy and issues of economic integration, economic growth, and current trade problems. Prerequisites: EC 201, EC 311, or consent of instructor.

EC 441 - International Monetary Theory and Policy (4)
Balance of payments theory including balance of payments accounting and foreign exchange market; theoretical models of fixed and flexible exchange rate systems using both Neoclassical and Keynesian approches. Historical evolution of the international monetary system. Current international monetary policies and problems. Prerequisites: EC 201, EC 202, EC 312 or consent of instructor.

EC 442 - The Multinational Enterprise in the World Economy (4)
The study of the multinational (transnational) enterprise as a form of direct foreign investment. Analysis of theories of direct investment; the impact of the multinational enterprise on the national and international economy and the relationship of such firms to the concept of the nation-state. Recommended: EC 201, EC 202.

EC 443 - Global Environmental Economics (4)
An examination of economic forces and theories to understand the causes of global environmental problems and evaluate policy options. Primary emphasis is on developing countries and countries in transition, though linkages with developed countries also considered. Topics include poverty, population, economic development and the environment, global warming, biodiversity protection, sustainability and pollution control.

*EC 444 - Economics of Green Power (4)
The economic feasibility and rationale of producing electricity using several alternative environmentally-friendly technologies. The economic and environmental costs and benefits of employing these technologies are identified and compared to the dominant technologies (coal, oil, hydropower). Alternative policies that provide incentives for the adoption of green techologies are examined. Recommended: EC 201.

EC 445 - Comparative Economic Systems (4) 
Introduces the evolutionary-institutional method of analysis, incorporating history, the legacy of ideas, and the dynamics of change over time. Using this method, we shall examine economic systems of Ancient Rome, Medieval Feudalism, the Lassez-Faire Market Economy, Fascist Command Economy, and others. Recommended: EC 201, EC 202.

EC 446 - Institutional Economics (4)
Considers the contributions of seminal thinkers to what is regarded as an alternate or heterodox school in economic science. Contribution of Thornstein Veblen, John R. Commons, Wesley Mitchell, Simon Kuznets, Clarence Ayres, Gunnar Myrdal, and John Kenneth Galbraith, as well as more contemporary thinkers, will be explored. Institutional theory will be compared and contrasted with neoclassical economics and shown as a viable theory posing a formidable challenge to the dominant paradigm of orthodoxy. Neo-institutionalist challenges will also be considered.

EC 447 - Economics of Transition (4)
Examines the formation of the Soviet-type economic system in the 1920s and 30s and its dissemination after World War II to Eastern Europe, China and other selected countries. Emphasis is placed on the history of ideas and the historical setting which gave rise to the Soviet model. Includes the examination of the internal contradictions of the model, the "unwinding" of planned socialism, and the prospects for the move toward mixed market economies. Recommended: EC 201, EC 202.

EC 448- East Asian Economic Development (4)
Key topics in the development of East Asian economies, especially, Japan, China, South Korea, and several Southeast Asian countries. Economic theory will be applied to investigate the validity of the "Asian economic growth model," while examining political, social and historical factors of the area and comparing the experience of these economies with that of other developing countries. Prerequisites: EC 201, 202 or consent of instructor

EC 450 - Economics of Development (4) 
Examines problems of post-colonial legacy: underdevelopment and persistent poverty. Rapid population growth, uneven development, capital flight, dual economy, brain drain. Industrialization strategies, foreign trade, education and human capital, population slowdown, microcredit institutions, role of women. Prerequisites: Ec 201, 202.

*EC 451 - Microenterprises in Developing Areas (4)
Examines role of small businesses in promoting economic development in low-income areas in Asia, Latin America, and Africa. Entrepreneurship as motor of economic growth and social transformation. Appraisal of institutions as constraints and advantages. Consideration of complex political environments affecting small business. Survival strategies of entrepreneurs. Prerequisites: recommended EC 201, EC 202.

EC 453 - Theory of Economic Growth (4)
Introduction to the theory of economic growth. This course will emphasize the theoretical basis and the models developed to measure growth and change in modern industrial societies. Prerequisites: recommended EC 201, EC 202.

EC 456 - American Economic History: the First Century 
The economic background of the War of Independence and the seeds of the Civil War. Industrialization, urbanization and development of the frontier. Rise of big business and organized labor. Laissez-faire, federalism, and the gradual emergence of the national government in economic policy. Changes in foreign trade and in the international position of the U.S. Prerequisites: recommended EC 201, EC 202.  Also offered as HST 438/538.

EC 457 - American Economic History: the 20th Century (4)
Economic impact of U.S. involvement in World War I. Postwar structural changes. Waning of laissez faire. Causes of the Great Depression. Economic policies of Hoover and Roosevelt administrations. The New Deal reforms. World War II and emergence of the administered system. Evolution of the mixed economy and growing role of the government. The industrial-military complex. Social imbalance. Prerequisites: recommended EC 201, EC 202. Also offered as HST 439/539.

EC 460 - History of Economic Thought (4)
Selections from the economic writings of various thinkers from antiquity through the Reformation. A survey of the work of the most important economic theorists of the 18th, 19th, and 20th centuries including Adam Smith, Ricardo, Marx, Marshall, Veblen, and Keynes. Readings include original writings and interpretations by later economists. Scholars will be studied in terms of their historical context and the contemporary relevance of the theories and policy recommendations. Prerequisites: recommended EC 201, EC 202.

EC 461 - The Economics of Empire and War (4)
Historical and contemporary analyses of the economic motivations and consequences of imperialism and war, distinguishing formal and informal imperialism, with a particular focus on the recent history of the U.S. Prerequisites: junior standing. Expected preparation: EC 201, EC 202.

EC 465 - Labor Economics (4)
This course investigates the determinants of wages, the decision to work, the reasons demographic groups fare differently in the labor market, and sources of unemployment. Also considers current developments in labor markets of increasing wage inequality, globalization, declining unionization, and widespread use of new technologies. Prerequisites: Ec 201; Ec 311 or consent of instructor.

EC 466 - The Political Economy of Mexican Migration (4)
A substantial proportion of people born in Mexico is estimated to live in the U.S. This course is designed to provide an economic understanding of this phenomenon, by investigating economic analyses of development, poverty, inequality, wage determination and migration; with particular attention to the economic situation in the U.S. and Mexico, and the economic relations between the two nations. Prerequisites: junior standing. Expected preparation: Ec 201 and Ec 202.

EC 469 - Introduction to Econometrics (4)
General survey of empirical techniques useful for economic analysis. Focus on the applications of mathematical tools and regression analysis in economics. Quantitative topics will be introduced systematically with hands-on case studies and examples related to the fields of economics, public policy, and urban studies. This course will not be counted as credit for economics graduate students, but may be taken by graduate students in other programs. Prerequisites: EC 201, EC 202, MTH 251, STAT 243, STAT 244.

EC 472 - Time Series Analysis and Forecasts (4)
Time series analysis, emphasizing model identification, estimation and forecasting. Non-stationary time series analysis includes unit root and co-integration tests. Techniques of moving average, differencing and autocorrelation adjustment are introduced. Diagnostic checking following the model evaluation provides the base model for forecasting. Prerequisites: recommended EC 469.

EC 480 - Mathematical Economics (4)
Mathematics for economists. Applications of differential calculus and matrix algebra to economics. Topics include consumer theory, production functions, and applied general equilibrium models. Prerequisites: EC 311, EC 312, and EC 380 (or equivalently: MTH 251, MTH 252, and MTH 261 in place of EC 380).

EC 486 - Project Evaluation (4)
Cost and benefit evaluation. Choice of projects. Case studies related to water resources, transportation, and industrial projects. Recommended:  EC 311. 

EC 487 - Economic Planning (4)
Aspects of the economic planning process including target setting, tests of feasibility, consistency, optimality and plan implementation.  Prerequisite: recommended EC 311.

 

GRADUATE COURSES (for MA/MS Degree or GCERE Students)
 

EC 501- Research
(By Arrangement with Instructor/Credit to be Arranged)

EC 503 - Thesis
(By Arrangement with Instructor/Credit to be Arranged)

EC 504 - Cooperative Education/Internship
(By Arrangement with Instructor/Credit to be Arranged) 

EC 505 - Reading & Conference 
(By Arrangement with Instructor/Credit to be Arranged)     

EC 509 - Practicum (By Arrangement with Instructor/Credit to be Arranged)

Economics majors may receive a maximum of 3 credits in their total undergraduate program for economics research done in the community in conjunction with guided reading and regular consultations with an instructor.  Prerequisites: recommended EC 201, EC 202, and consent of instructor.

EC 510 - Selected Topics (4)
Varies each term; click here to see course descriptions.

EC 511 - Cultural Economics (4)
Focus is on a general theory of economic development and growth in the conceptual framework of culture and its evolution. The economic process fed by the dynamics of technological change is analyzed in cultural and social terms in the tradition of institutional and/or evolutionary economics. This framework is relevant and will be applied to current issues such as: globalization, trade, jobs and the environment, sustainable development, corporate power, cultural lags and social justice.

EC 517 - Women in the Economy (4)
Different economic theoretical perspectives are presented to account for women's particular economic roles currently and historically. Emphasis on women's responsibility for child rearing and housework; women's relatively low wages; occupational segregation by gender; economic differences among women due to ethnicity, generation and class; and policy issues with particular importance for women's economic situation. Also listed under University Studies Cluster Courses as WS 417U and WS 517. Prequisite: recommended EC 201.

EC 518 - Economic Seminar Series (1)
See course syllabus for details. Prerequisite: recommended consent of instructor.

EC 519 - Economics of Race and Ethnicity (4) (not offered every year)
Survey of the economic history of ethnic groups in the United States, various economic theoretical perspectives advanced to account for past and current experience of people of color in the U.S. economy, and examination of selected economic policy issues. Recommended prerequisite: EC 201.

EC 520 - Money And Banking (4) (not offered every year)
Functional and empirical definitions of money and interest rates. Characteristics and role of bank and non-bank financial institutions in determining the level of money and interest rates. History of the Federal Reserve System. Instruments of monetary control by the Federal Reserve. Alternative models of monetary influence on the economy. Prerequisites: EC 201, EC 202, and EC 312 or consent of instructor.

EC 522 - Economics of Sustainability: Theory and Practice (4)
Economic concepts and theories for analyzing sustainable development, including the emerging field of ecological economics. Roles and practices of the business, government and nonprofit sectors in fostering sustainability.

EC 525 - Economics of Industrial Organization (4) (not offered every year)
Study based upon the application of microeconomic theory to the analysis of firms, markets and industries. Search for economic explanations for the structure of markets and for the behavior of the firms which trade in them. Seeks also to explain the internal organization of firms and to assess the efficiency of the market in determining organization. Prerequisites: EC 201, EC 311, or consent of instructor. 

EC 526 - Economics of Regulation (4) (not offered every year)
Study of government regulation designed to control - or at least to influence - the performance of the market in specific ways. Historical and economic analyses of three main forms of regulation: direct regulation of monopoly and competition, and social regulation to protect the environment and the individual. Prerequisite: recommended EC 201.

EC 527 - Cost-benefit Analysis(4)

Main theory and empirical methodologies for assessing costs and benefits of projects with varying timeframes and levels of uncertainty. Focus on public projects, including environmental, infrastructure and social service activities. Methodologies for valuation of nonmarketed goods, such as environmental services, also covered. Prerequisite: EC 201.

EC 530 - Resource & Environmental Economics (4)
Overview of different approaches to economic analysis of resources and environment, and fundamental issues of economy/environment interactions, as well as the emerging subject of sustainability. Covers the basics of standard environmental and resource economics including the theory of externalities, resource allocation over time, common property resources, public goods and valuation. Includes an overview of the economic dimension of policies designed to protect and improve environmental quality and protect and efficiently manage natural resources. Prerequisite: EC 201.

EC 531 - Urban Economics (4)
Functions of the urban economy: the market sector and the public sector. Economic analysis of issues such as land use, environmental quality, transportation, housing, income distribution, and the organization and financing of urban public services. Prerequisite: recommended EC 201, EC 202. This course is the same as USP 431/531; course may only be taken once for credit.

EC 532 - Environmental Economics (4)
Examination of the economics of environmental degradation, externalities and pollution control. Emphasis is on the theoretical aspects of market failure, policies/regulations to promote efficient outcomes, and policy applications. Prerequisites: EC 311, EC 430/530, or consent of instructor. EC 469 or equivalent recommended.

EC 533 - Advanced Natural Resource Economics (4) 
An examination of the economic concepts and theories for analyzing natural resource production, extraction and use. Focus on natural resources such as land, minerals, forests, fisheries and wildlife and the barriers to achieving sustainability. Regional, national and international case studies used to illustrate key policy issues. Prerequisites: EC 311, EC 430/530, or consent of instructor. EC 469 or equivalent recommended.

EC 534 - Business Environmental Management Economics (4) 
Examines the economic costs and benefits that affect the decisions of business firms to develop integrated environmental management systems. Analysis of policy options to foster business environmental management for public goods. Case studies of selected firms. Prerequisite: recommended EC 201. 

EC 535 - Public Spending and Debt Policy (4)
Analysis of the role of the state in a competitive economy. Development of decision rules for state economic action. Includes a detailed study of the principles of voting, public budgeting including cost benefit analysis and PPBS, the theory of fiscal federalism and the theory and principles of public debts. Prerequisites: recommended EC 201, EC 202.

EC 536 - Taxation and Income Policies (4)
Principles and problems of government financing. Critical analysis of alternative taxes as sources of public revenue with emphasis on theories of incidence and economic effect. Prerequisites: recommended EC 201, EC 202.

EC 537 - Public Utility Economics (4)
Examines the rationale, economic principles and institutions of historic economic regulation. Contemporary theory of the firm and microeconomic pricing are analyzed. Technological changes suggest that to achieve economic efficiency it may no longer be necessary or appropriate to subject energy and telecommunications firms to traditional utility regulation. There is academic enthusiasm for displacing economic regulation with competition. Deregulation and restructuring are explored with emphasis on contemporary issues in Oregon, the Pacific Northwest, and the nation. In particular, difficulties in transformation to the marketplace will be examined. Expert guest lecturers from the utility and regulatory communities will be scheduled, and contemporary scholarly literature will be reviewed. Prerequisites: recommended EC 201, EC 202.

EC 540 - International Trade Theory and Policy (4)
Theories of international trade. Analysis of the normative aspects of trade including the gains from trade and the effect of trade on economic welfare. Examination of international trade policy and issues of economic integration, economic growth, and current trade problems. Prerequisites: EC 201, EC 311, or consent of instructor.

EC 541 - International Monetary Theory and Policy (4)
Balance of payments theory including balance of payments accounting and foreign exchange market; theoretical models of fixed and flexible exchange rate systems using both Neoclassical and Keynesian approches. Historical evolution of the international monetary system. Current international monetary policies and problems. Prerequisites: EC 201, EC 202, EC 312 or consent of instructor.

EC 542 - The Multinational Enterprise in the World Economy (4)
The study of the multinational (transnational) enterprise as a form of direct foreign investment. Analysis of theories of direct investment; the impact of the multinational enterprise on the national and international economy and the relationship of such firms to the concept of the nation-state. Prerequisites: recommended EC 201, EC 202.

EC 543 - Global Environmental Economics (4)
An examination of economic forces and theories to understand the causes of global environmental problems and evaluate policy options. Primary emphasis is on developing countries and countries in transition, though linkages with developed countries also considered. Topics include poverty, population, economic development and the environment, global warming, biodiversity protection, sustainability and pollution control.

EC 544 - Economics of Green Power (4) (not offered every year)
The economic feasibility and rationale of producing electricity using several alternative environmentally-friendly technologies. The economic and environmental costs and benefits of employing these technologies are identified and compared to the dominant technologies (coal, oil, hydropower). Alternative policies that provide incentives for the adoption of green techologies are examined. Prerequisite: recommended EC 201.

EC 545 - Comparative Economic Systems (4) 
Introduces the evolutionary-institutional method of analysis, incorporating history, the legacy of ideas, and the dynamics of change over time. Using this method, we shall examine economic systems of Ancient Rome, Medieval Feudalism, the Lassez-Faire Market Economy, Fascist Command Economy, and others. Prerequisite: recommended EC 201, EC 202.

EC 546 - Institutional Economics (4)
Considers the contributions of seminal thinkers to what is regarded as an alternate or heterodox school in economic science. Contribution of Thornstein Veblen, John R. Commons, Wesley Mitchell, Simon Kuznets, Clarence Ayres, Gunnar Myrdal, and John Kenneth Galbraith, as well as more contemporary thinkers, will be explored. Institutional theory will be compared and contrasted with neoclassical economics, and shown as a viable theory posing a formidable challenge to the dominant paradigm of orthodoxy. Neo-institutionalist challenges will also be considered.

EC 547 - Economics of Transition (4)
Examines the formation of the Soviet-type economic system in the 1920s and 30s and its dissemination after World War II to Eastern Europe, China and other selected countries. Emphasis is placed on the history of ideas and the historical setting which gave rise to the Soviet model. Includes the examination of the internal contradictions of the model, the "unwinding" of planned socialism, and the prospects for the move toward mixed market economies. Prerequisites: recommended EC 201, EC 202.

EC 548 - East Asian Economic Development (4)
Key topics in the development of East Asian economies, especially, Japan, China, South Korea, and several Southeast Asian countries. Economic theory will be applied to investigate the validity of the "Asian economic growth model," while examining political, social and historical factors of the area and comparing the experience of these economies with that of other developing countries. Prerequisites: EC 201, 202 or consent of instructor

EC 550 - Economics of Development (4) 
Examines problems of post-colonial legacy: underdevelopment and persistent poverty. Rapid population growth, uneven development, capital flight, dual economy, brain drain. Industrialization strategies, foreign trade, education and human capital, population slowdown, microcredit institutions, role of women. Prerequisites: recommended EC 201, EC 202.

EC 551 - Microenterprises in Developing Areas (4) (not offered every year)
Examines role of small businesses in promoting economic development in low-income areas in Asia, Latin America and Africa. Entrepreneurship as motor of economic growth and social transformation. Appraisal of institutions as constraints and advantages. Consideration of complex political environments affecting small business. Survival strategies of entrepreneurs. Prerequisites: recommended EC 201, EC 202.

EC 553 - Theory of Economic Growth (4)
Introduction to the theory of economic growth. This course will emphasize the theoretical basis and the models developed to measure growth and change in modern industrial societies. Prerequisites: recommended EC 201, EC 202.

EC 556 - American Economic History: the First Century 
The economic background of the War of Independence and the seeds of the Civil War. Industrializaion, urbanization, and development of the frontier. Rise of big business and organized labor. Laissez-faire, federalism and the gradual emergence of the national government in economic policy. Changes in foreign trade and in the international position of the U.S. Prerequisites: recommended EC 201, EC 202.  Also offered as HST 438/538.

EC 557 - American Economic History: the 20th Century (4)
Economic impact of U.S. involvement in World War I. Postwar structural changes. Waning of laissez faire. Causes of the Great Depression. Economic policies of Hoover and Roosevelt administrations. The New Deal reforms. World War II and emergence of the administered system. Evolution of the mixed economy and growing role of the government. The industrial-military complex. Social imbalance. Prerequisites: recommended EC 201, EC 202.

EC 560 - History of Economic Thought (4)
Selections from the economic writings of various thinkers from antiquity through the Reformation. A survey of the work of the most important economic theorists of the 18th, 19th, and 20th centuries including Adam Smith, Ricardo, Marx, Marshall, Veblen, and Keynes. Readings include original writings and interpretations by later economists. Scholars will be studied in terms of their historical context and the contemporary relevance of the theories and policy recommendations. Prerequisites: recommended EC 201, EC 202.

EC 561 - The Economics of Empire and War (4)
Historical and contemporary analyses of the economic motivations and consequences of imperialism and war, distinguishing formal and informal imperialism, with a particular focus on the recent history of the U.S. Prerequisites: junior standing. Expected preparation: EC 201, EC 202.

EC 565 - Labor Economics (4)
This course investigates the determinants of wages, the decision to work, the reasons demographic groups fare differently in the labor market, and sources of unemployment. Also considers current developments in labor markets of increasing wage inequality, globalization, declining unionization, and widespread use of new technologies. Prerequisites: Ec 201; Ec 311 or consent of instructor.

EC 566 - The Political Economy of Mexican Migration (4)
A substantial proportion of people born in Mexico is estimated to live in the U.S. This course is designed to provide an economic understanding of this phenomenon, by investigating economic analyses of development, poverty, inequality, wage determination and migration; with particular attention to the economic situation in the U.S. and Mexico, and the economic relations between the two nations. Prerequisites: junior standing. Expected preparation: Ec 201 and Ec 202.

EC 569 - Introduction to Econometrics (4)
General survey of empirical techniques useful for economic analysis. Focus on the applications of mathematical tools and regression analysis in economics. Quantitative topics will be introduced systematically with hands-on case studies and examples related to the fields of economics, public policy and urban studies. This course will not be counted as credit for economics graduate students, but may be taken by graduate students in other programs. Prerequisites: EC 201, EC 202, MTH 251, STAT 243, STAT 244.

EC 570 - Econometrics (4)
Covers the theory and application of statistical regression, hypothesis testing, and simulation of econometric models. Emphases are placed on model construction and efficient use of economic data. Problems of multicolinearity, heteroscedasticity, autocorrelation, and distributed lags are discussed. Some familiarity with calculus, matrix algebra, and computer applications are assumed. Prerequisite: EC 469 or consent of instructor.

EC 571 - Advanced Econometrics (4)
Advanced econometrics topics including systems of linear equations, panel data, nonlinear models, nonparametric estimation and prediction, and applications in consumption and production models.  Data resources available to the practicing economist will be covered.  Prerequisites: EC 570 or consent of instructor.

EC 572 - Time Series Analysis and Forecasts (4)
Time series analysis, emphasizing model identification, estimation and forecasting. Non-stationary time series analysis includes unit root and co-integration tests. Techniques of moving average, differencing and autocorrelation adjustment are introduced. Diagnostic checking following the model evaluation provides the base model for forecasting. Prerequisites: EC 570.

EC 575 - Applied Advanced Econometrics (4)
Covers advanced topics related to methodological issues in econometrics, with emphases on computation, simulation and non-linear methods in econometrics. Nonlinear econometric models including Box-Cox variable transformation, autoregressive time series analysis, and qualitative choice models. Simulation-based econometrics covers topics of Monte Carlo experiments and bootstrapping methods. Prerequisites: EC 570, EC 571, or consent of instructor.

EC 580 - Mathematical Economics (4)
Mathematics for economists. Applications of differential calculus and matrix algebra to economics. Topics include consumer theory, production functions, and applied general equilibrium models. Prerequisites: EC 311, EC 312, and EC 380 (or equivalently: MTH 251, MTH 252, and MTH 261 in place of EC 380).

EC 581- Advanced Microeconomics (4)
Theory of consumer behavior and of the firm. Market and multimarket equilibrium and stability. Varieties of imperfect competition. Prerequisites: EC 480/580 or consent of instructor.

EC 584 - Applications of Advanced Microeconomic Theory (4)

Applies theories of consumer and producer behavior to a variety of real world problems.  Different sub-disciplines of microeconomics will be covered, which may include two or three of the following: information economics, environmental economics, economics of regulation, industrial organization, law and economics, natural resource economics, labor economics, regional economics, urban economics, and the economics of contracting. For each sub-discipline covered, the most important economic model will be discussed and a review of major research studies and techniques will be undertaken. Prerequisites: EC 581 or consent of instructor.

EC 586 - Project Evaluation (4)

Cost and benefit evaluation. Choice of projects. Case studies related to water resources, transportation, and industrial projects. Also offered for undergraduate-level credit as Ec 486 and may be taken only once for credit. Recommended: Ec 376.

EC 590 - Advanced Macroeconomics (4)

Theories of national income, employment and price levels with special emphasis on recent developments in analytical techniques and empirical findings. Prerequisites: EC 480/580 or consent of instructor AND EC 581 or consent of instructor.

EC 592 - Applications of Advanced Macroeconomic Theory (4)
Coverage includes current topics of interest in macroeconomics. The focus is on the applications of neoclassical and Keynesian theories of macroeconomics theory to a variety of real world problems. The various sub-disciplines of macroeconomics that may be covered include: financial economics, monetary economics, economic growth models, labor economics, public finance, international economics, and radical macroeconomic thought. Prerequisite: EC 590 or consent of instructor.

EC 596,597 - Research Project I, II (4,4) 
Intended for graduate students to complete the field project requirement. Course activities include: independent reading on researchable field-related topics: individual development of a research project, i.e., selection of a subject and plan of study and periodic reporting of individual research projects progress. Prerequisite: recommended EC 575.

*EC 675 - Advanced Macroeconomics II (4) 
Extended analysis of macroeconomic theory covering static, deterministic models through recent dynamic and stochastic macro modeling. Analytic tools in both theoretic and empirical models are illustrated in the study of inflation, unemployment, growth and government policy. Recommended: Ec 575.

*EC 676 - Advanced Microeconomics II (4) 
Extended analysis of microeconomic theory covering individual and social choice issues. Selected topics of interest and significance include but are not limited to: rational choice behavior of consumers and producers, theory of the market, partial and general equilibrium analysis, welfare economics, and economics of inflation. Recommended: Ec 576.

*EC 698 - Ecosystem Services Valuation: An Integrated Assessment (4) 
Explore environmental, social and economic theories of valuation, quantitative and qualitative methods for incorporating the values into ecosystem service management decisions, novel approaches for integrating each type of values into comprehensive measures and applications through interdisciplinary team projects. Prerequisites: ESR 692, Soc 694 and Geog 696 or instructor’s permission. This is the same course as Mgmt 698; may only be taken once for credit.