Economics (ECON)

Professor Emeritus: Thomas Russell,

Professors: Alexander J. Field, Christian Helmers, John Ifcher (Chair), Michael Kevane, Kris J. Mitchener, Helen Popper, Dongsoo Shin, William A. Sundstrom

Associate Professors: Linda Kamas, Serguei Maliar

Assistant Professors: Adrien Bouguen, Vito Cormun, Audrey Guo, Jianlin Wang, Victoria Xie

Michel and Mary Orradre Professor: Alexander J. Field

Robert and Susan Finocchio Professor: Kris J. Mitchener

Stephen and Patricia Schott Professor: William Sundstrom

Senior Lecturer: Adina Ardelean, Shireen Al-Azzawi

Lecturers: Patricia Cameron-Loyd, Rita Madarassy, Damian Park

Adjunct Lecturers: Kevin Chiu, Gabriela Dobrescu, Orkhan Hasanaliyev, Hui Huang, Sofia Kotsiri

Economics Courses

ECON 2509. Econometrics with R

Econometrics is the application of data analysis and statistics to economic and business questions. In this 2-unit course you will learn the basic conceptual foundations and tools of econometrics and apply them to real-world data. The key statistical technique used in this course is multiple linear regression, a powerful tool for estimating the impact of one or more hypothesized causal variables on an outcome of interest while controlling for other factors. These econometric tools will help you translate qualitative statements developed in theory into quantitative ones. (4 units)

Prerequisites: ECON 3000 Managerial Economics for MBA. No prerequisites for MSBA students.

ECON 3000. Managerial Economics

This course will introduce the economics foundation for managerial decisions. The course analyzes the economic behavior of individuals and firms and explores how their interactions in markets affect managerial decisions. Basic concepts of market, price elasticity, theory of consumer and theory of firm will be studied to incorporate economic theories in managerial decision making. How key managerial decisions are made in different industrial structures will be discussed. (4 units)

Only for MBA students. Prerequisites: OMIS 3202 Analytical Decision Making (Prescriptive Analytics & Decision Making) Starting Winter 2025 known as ISBA 3200.

ECON 3052. The Economics of Innovation and Intellectual Property

This course provides a helicopter tour of the economics of innovation and intellectual property. The objective of the course is to offer students an overview of some of the most topical, relevant (from a business and policy perspective), and interesting topics surrounding innovation and intellectual property. The course covers in particular recent events related to intellectual property, such as the debate on software patents, “patent wars”, patent litigation involving patent trolls, and standard essential patents. It also introduces students to the economics of other intellectual property rights, including trademarks, copyright, and design rights. The course material varies substantially across topics; it is both theoretical and empirical and cuts across a number of disciplines, most importantly law and economics. (2 units)

Only for MBA students. Prerequisites: ECON 3000 Managerial Economics for MBA.

ECON 3402. Macroeconomics in the Global Economy, Theory, Empirics and Policy

The macroeconomic and global economic environment in which businesses operate can profoundly influence firm performance.  This course helps managers understand the determinants of national output, income, and expenditure, employment and unemployment, inflation, interest rates, financial crises, international movements of capital, exchange rates, and many other macroeconomic variables.  Economic models are utilized to explain how these variables are interrelated and to predict how they change over time, enabling managers to make well-informed decisions important to the success of their businesses.  The course has a strong empirical component and utilizes economic data extensively to examine recent and historical economic events to illustrate how the models work. Emphasis is placed on the role of government policy  (fiscal, monetary, and regulatory) in promoting economic growth, reducing the output loss and unemployment associated with recessions, controlling inflation, preventing or mitigating the consequences of financial crises, and reducing the international linkages among countries in goods and financial markets, including the determinants of exchange rates, the current and capital account balances, and international debt. (4 units)

Prerequisites: ECON 3000 Managerial Economics for MBA.

ECON 3430. Game Theory and Strategic Behavior

Studies theoretical concepts and tools for analyzing issues in the business environment such as conflict, bargaining, pretending and shirking in organizations and markets, agenda construction, and strategic commitment. Teaches game theoretical topics such as Nash-equilibrium, Sub game perfection, Bayesian Nash-equilibrium, Harsanyi transformation, commitment, and Perfect Bayesian Equilibrium. (4 units)

Prerequisites: ECON 3000 Managerial Economics for MBA.

ECON 3431. Dynamic Macroeconomics and Monetary Policy: Theory and Applications

This course provides an introduction to: analytical and numerical tools for dynamic optimization; quantitative analysis of business cycle using the neoclassical growth theory; monetary policy analysis and projection using new Keynesian models; social security and inter-generational transfers; and other selected topics of economic dynamics.(2 units)

Prerequisite: ECON 3000 Managerial Economics for MBA.