Department of Economics

The information in parentheses after a course number is the Texas Common Course Numbering (TCCN) designation. Only TCCN designations that are exact semester-hour equivalents of University courses are listed here. Additional TCCN information is given in Appendix A.

Economics: ECO

Lower-Division Courses

ECO 301. Introduction to Economics.

Introduction to the structure and functioning of the aggregate economy and specific markets, including the labor market, housing market, and financial markets. Basic concepts of market regulation and monetary and fiscal policy. Concepts used in the social and behavioral sciences for measuring and interpreting economic data. Three lecture hours a week for one semester. May not be counted toward a major in economics.

ECO 304K (TCCN: ECON 2302). Introduction to Microeconomics.

Analysis of the economic behavior of individual consumers, firms, and workers. Demand, supply, and market equilibrium. Impact of taxes, externalities, and market power on equilibrium. Three lecture hours a week for one semester, with additional hours to be arranged.

ECO 304L (TCCN: ECON 2301). Introduction to Macroeconomics.

Analysis of the economy as a whole. Measurement of output, the price level, and employment. Basic theories of the determination of Gross domestic product, investment and growth, and inflation. Introduction to fiscal policy and monetary policy. Three lecture hours a week for one semester, with additional hours to be arranged. Prerequisite: Economics 304K with a grade of at least C-.

ECO 305. Introductory Topics in Economics.

Three lecture hours a week for one semester. May be repeated for credit when the topics vary.

ECO 318Q. Supervised Research.

Individual instruction. May be repeated once for credit when the research topics vary. Prerequisite: Economics 304K and 304L with a grade of at least C- in each.

ECO 119S, 219S, 319S, 419S, 519S, 619S, 719S, 819S, 919S. Topics in Economics.

This course is used to record credit the student earns while enrolled at another institution in a program administered by the University's Study Abroad Office. Credit is recorded as assigned by the study abroad adviser in the Department of Economics. University credit is awarded for work in an exchange program; it may be counted as coursework taken in residence. Transfer credit is awarded for work in an affiliated studies program. May be repeated for credit when the topics vary.

Upper-Division Courses

ECO 420K. Microeconomic Theory.

Economic theory of the behavior of individuals, households, firms, and markets. Roles of relative prices and information, with a focus on constrained optimization. Four lecture hours a week for one semester. Required of students majoring in economics. Prerequisite: Economics 304K and 304L with a grade of at least C- in each; and Mathematics 408C and 408D, or 408K and 408L, or 408N and 408S, with a grade of at least C- in each.

ECO 320L. Macroeconomic Theory.

Theories of the determination of output, employment, and the price level. Basic models of growth. Design of monetary and fiscal policies, and the mechanisms by which they affect the economy. Three lecture hours a week for one semester. Required of students majoring in economics. Prerequisite: Economics 420K with a grade of at least C-.

ECO 321. Public Economics.

Study of appropriate allocations of economic activity between government (federal, state, and local) and the private sector. The workings of social security, welfare, education, pollution control, deregulation, taxation; and proposals for reform. Three lecture hours a week for one semester. Prerequisite: Economics 420K with a grade of at least C-.

ECO 322. Money and Banking.

Theories of financial intermediation and the role played by money. Financial policy and monetary policy in theory and practice. Three lecture hours a week for one semester. Only one of the following may be counted: Economics 322, Finance 354, 354H. Prerequisite: Economics 420K and 320L with a grade of at least C- in each.

ECO 323T. Studies in Economic History.

Role of economic forces in shaping history. Subjects may focus on a country or region of the world, or take a global perspective on economic mechanisms driving change. Three lecture hours a week for one semester. May be repeated for credit when the topics vary. Prerequisite: Economics 304K and 304L with a grade of at least C- in each.

Topic 1: Economic History of the United States. Economic history of the United States from colonial times to the present.
Topic 2: World Economic History. Economic history of the world from the Industrial Revolution to the present.

ECO 324. Introduction to Labor Economics.

Labor markets in modern economies. Role of institutions and policies in shaping labor market outcomes for individuals and businesses. Three lecture hours a week for one semester. Prerequisite: Economics 420K with a grade of at least C-.

ECO 325K. Health Economics.

Explores medical care as a commodity, demand for health and medical services, economic behavior of medical care providers, and the functioning of medical insurance markets. Government regulation and provision of health care and health insurance. Three lecture hours a week for one semester. Only one of the following may be counted: Economics 325K, 330T (Topic 1), 330T (Topic: Health Economics), 350K (Topic 9), 350K (Topic: Health Economics). Prerequisite: Economics 420K with a grade of at least C-.

ECO 326L. Economics of Education.

Applications of economic principles and empirical methods to education, including the concept of human capital, economic returns to education, the determinants and measurement of teacher impact, the roles of school inputs and factors outside of school, and the market for higher education. Methodology for evaluating education policy. Three lecture hours a week for one semester. Economics 326L and 350K (Topic: Economics of Education) may not both be counted. Prerequisite: Economics 420K with a grade of at least C-.

ECO 327. Comparative Economic Systems.

Economic systems in theory and practice. Role of government and regulation. Three lecture hours a week for one semester. Prerequisite: Economics 304K and 304L with a grade of at least C- in each.

ECO 328. Industrial Organization.

Organization of industries and markets; competition, monopoly, and oligopoly. Introduction to antitrust policy, regulatory policy, and other alternatives. Three lecture hours a week for one semester. Prerequisite: Economics 420K with a grade of at least C-.

ECO 329. Economic Statistics.

Interpretation of economic data. Introduction to statistical models, estimation, and inference in economics. Three lecture hours a week for one semester. Only one of the following may be counted: Economics 329, Statistics 309, 309H. Prerequisite: Economics 304K and 304L with a grade of at least C- in each; and Mathematics 408C and 408D, or 408K and 408L, or 408N and 408S, with a grade of at least C- in each.

ECO 129S, 229S, 329S, 429S, 529S, 629S, 729S, 829S, 929S. Topics in Economics.

This course is used to record credit the student earns while enrolled at another institution in a program administered by the University's Study Abroad Office. Credit is recorded as assigned by the study abroad adviser in the Department of Economics. University credit is awarded for work in an exchange program; it may be counted as coursework taken in residence. Transfer credit is awarded for work in an affiliated studies program. May be repeated for credit when the topics vary.

ECO 330T. Topics in Economics.

Open to nonmajors. Topics cover aspects of economic theory, applications, and policy. Three lecture hours a week for one semester. Economics 330T and 350K may not both be counted unless the topics vary. May be repeated for credit when the topics vary. Prerequisite: Economics 304K with a grade of at least C-; additional prerequisites may vary with the topic.

Topic 1: Economics of Health. Only one of the following may be counted: Economics 325K, 330T (Topic: Health Economics), 330T (Topic 1), 350K (Topic: Health Economics), 350K (Topic 9). Additional prerequisite: Economics 304K with a grade of at least C-.

ECO 333K. Development Economics.

Same as Urban Studies 351 (Topic 4). Introduction to theories of economic development; discussion of leading issues. Three lecture hours a week for one semester. Only one of the following may be counted: Economics 333K, Urban Studies 351 (Topic: Development Economics), 351 (Topic 4). Prerequisite: Economics 420K with a grade of at least C-.

ECO 334K. Urban Economics.

Same as Urban Studies 351 (Topic 2: Urban Economics). Economic analysis of urban areas; emphasis on the nature of current urban problems--slums, transportation, finance--and an evaluation of current policy. Three lecture hours a week for one semester. Prerequisite: Economics 420K with a grade of at least C-.

ECO 334L. Regional Economics.

Same as Urban Studies 351 (Topic 3: Regional Economics). Spatial aspects of economics, including concepts, theories, and policy applications. Three lecture hours a week for one semester. Prerequisite: Economics 420K with a grade of at least C-.

ECO 335K. Energy Economics.

Economic analysis of the markets for resources that supply energy, including coal, oil, natural gas, and shale gas, and the market for electricity. Principles of valuation and optimal dynamic allocation of energy resources. Financial contracts and risk management in energy markets. Regulation of energy markets. Three lecture hours a week for one semester. Economics 335K and 350K (Topic: Energy Economics) may not both be counted. Prerequisite: Economics 420K with a grade of at least C-.

ECO 339K. International Trade and Investment.

Theories explaining the location of production facilities and patterns in international trade. Implications of international trade for per capita income, growth, and inequality. Three lecture hours a week for one semester. Only one of the following may be counted: Economics 339K, European Studies 348 (Topic 2: International Trade), International Business 320F, 350. Prerequisite: Economics 420K with a grade of at least C-.

ECO 339L. International Finance.

Exchange rates and foreign exchange markets; reasons for financial globalization; open-economy macroeconomics; exchange rate regimes (fixed and floating exchange rates, currency boards, and currency areas such as the euro zone); central bank accumulation of foreign exchange reserves; and sovereign debt crises and currency crashes. Reasons for different exchange rate arrangements and other policies are explored. Three lecture hours a week for one semester. Prerequisite: Economics 420K and 320L with a grade of at least C- in each.

ECO 341K. Introduction to Econometrics.

Parameter estimation and inference in regression models. Three lecture hours a week for one semester. Prerequisite: Economics 420K and 329 with a grade of at least C- in each.

ECO 348K. Advanced Topics in Econometrics.

Topics in econometric modeling and estimation. Three lecture hours a week for one semester. May be repeated for credit when the topics vary. Prerequisite: Economics 420K and 341K with a grade of at least C- in each; additional prerequisites may vary with the topic.

Topic 1: Advanced Econometrics. Advanced econometric models for economic data and approaches to estimation and inference for those models. Three lecture hours a week for one semester. Economics 348K (Topic 1) and 350K (Topic 4) may not both be counted. Additional prerequisite: Economics 341K and 420K with a grade of at least C- in each.

ECO 349K. Topics in Applied Economics.

Applications of economic theory, empirical methods, and policy analysis. Three lecture hours a week for one semester. May be repeated for credit when the topics vary. Prerequisite: Economics 420K with a grade of at least C-; additional prerequisites may vary with the topic.

ECO 350K. Advanced Topics in Economics.

Topics in economic theory, and the application of theory to empirical models. Three lecture hours a week for one semester. Economics 330T and 350K may not both be counted unless the topics vary. May be repeated for credit when the topics vary. Prerequisite: Economics 420K with a grade of at least C-; additional prerequisites may vary with the topic.

Topic 5: Advanced Macroeconomics. Advanced macroeconomic theory. Subjects may include dynamic general equilibrium models, real business cycle theory, and macroeconomic models with money and a financial intermediary sector. Economics 350K (Topic: Advanced Macroeconomics) and Economics 350K (Topic 5) may not both be counted. Additional prerequisite: Economics 320L with a grade of at least C-.
Topic 6: Advanced Microeconomic Theory. Advanced theory of individual behavior and organizations. Subjects may include decision-making under uncertainty, insurance, optimal contracts, and institutions. Additional prerequisite: Economics 329 with a grade of at least C-.

ECO 351K. Current Issues in Business Economics.

Economic analysis of government regulation and policy and business responses. Three lecture hours a week for one semester. Prerequisite: Economics 420K with a grade of at least C-.

ECO 351M. Managerial Economics.

Use of economic analysis and optimization as tools for improving managerial decision-making in business. Three lecture hours a week for one semester. Prerequisite: Economics 420K, and Economics 329 or Mathematics 362K, with a grade of at least C- in each.

ECO 352K. Business Strategy.

Economic analysis of business strategy, including introducing new products, vertically integrating, bundling goods, pricing, distribution, mergers, and product differentiation. Relevant aspects of antitrust law. Case studies of specific firms. Three lecture hours a week for one semester. Economics 350K (Topic: Business Strategy) and 352K may not both be counted. Prerequisite: Economics 420K with a grade of at least C-.

ECO 353K. Antitrust Law and Economics.

Economic analysis of antitrust law intended to deter firms from engaging in anti-competitive conduct that harms consumers, including mergers that impede competition, price-fixing, and anti-competitive practices by a dominant firm in an industry. Focus on various industries and select antitrust cases. Three lecture hours a week for one semester. Economics 350K (Topic: Antitrust Law and Economics) and Economics 353K may not both be counted. Prerequisite: Economics 420K with a grade of at least C-.

ECO 354K. Introductory Game Theory.

Introduction to the formal study of interdependent decision making. Applications of game theory include pricing and advertising strategies, labor-management bargaining, and tariff negotiations. Three lecture hours a week for one semester. Prerequisite: Economics 420K and 329 with a grade of at least C- in each.

ECO 355. Development Problems and Policies in Latin America.

Same as Latin American Studies 355 (Topic 1: Development Problems and Policies in Latin America) and Urban Studies 351 (Topic 1: Development Problems and Policies in Latin America). Description of the Latin American economy; business and market organization; problem of growth (involving credit, public finance, trade, investment aspects). Three lecture hours a week for one semester. Prerequisite: Economics 304K and 304L with a grade of at least C- in each.

ECO 358Q. Supervised Research.

Individual instruction. May be repeated once for credit when the research topics vary. May not be counted toward the twenty-five semester hours in economics required for the major in economics. Prerequisite: Economics 420K and 329 with a grade of at least C- in each.

ECO 359M. Environmental and Natural Resource Economics.

Optimal use of exhaustible and renewable resources, including fuels, minerals, fisheries, forests, and water; resource scarcity and economic growth; valuation of nonmarketed environmental amenities; the economics of pollution control instruments, including taxes, permits, direct regulation, and negotiation; environmental quality and international trade; the economics of global climate change; pollution control policy in practice. Three lecture hours a week for one semester. Prerequisite: Economics 420K and 329 with a grade of at least C- in each.

ECO 361. Studies in Public Economics.

Three lecture hours a week for one semester. May be repeated for credit when the topics vary. Prerequisite: Economics 420K with a grade of at least C-; additional prerequisites may vary with the topic.

ECO 363C. Computational Economics.

Three lecture hours a week for one semester. Prerequisite: Economics 420K and 320L with a grade of at least C- in each.

ECO 367R. Monetary Economics.

Theories explaining the role of money in the economy. Three lecture hours a week for one semester. Prerequisite: Economics 430K and 320L with a grade of at least C- in each.

ECO 368. Survey of the History of Economic Thought.

Three lecture hours a week for one semester. Prerequisite: Upper-division standing.

ECO 369F. Financial Economics.

Economic analysis of the operation of financial markets, including arbitrage theory, asset pricing, and corporate finance. Three lecture hours a week for one semester. Prerequisite: Economics 420K, 320L, and 329 with a grade of at least C- in each.

ECO 372M. Studies in Development Economics.

Analysis of specific aspects of the process of economic development, or common problems and interactions of countries in a developing region. Three lecture hours a week for one semester. May be repeated for credit when the topics vary. Prerequisite: Economics 420K with a grade of at least C-. Additional prerequisites may vary with the topic.

ECO 376M. Studies in Labor Economics.

Three lecture hours a week for one semester. May be repeated for credit when the topics vary. Prerequisite: Economics 420K with a grade of at least C-; additional prerequisites vary with the topic.

Topic 1: Personnel Economics. An analysis of decision making by profit-maximizing firms involving human resources through economic theory. Includes neoclassical theory of labor demand, recruiting and hiring strategies, training and investment in workers' human capital, organizational design and job design, provision of non-wage job attributes and fringe benefits, and evaluating and motivating employee performance. Economics 376M (Topic: Personnel Economics) and 376M (Topic 1) may not both be counted.

ECO 378H. Honors Tutorial Course I.

Supervised individual reading, research, and writing of a substantial paper on a special topic in the field of economics. Conference course. Prerequisite: Upper-division standing, admission to the Economics Honors Program, and consent of the honors adviser.

ECO 379C. Individual Conference Course.

Supervised individual study of selected problems in economics. Conference course. May not be counted toward the twenty-four semester hours in economics required for the major in economics. May be repeated for credit. Prerequisite: Upper-division standing and consent of instructor. Students should ordinarily have completed six semester hours of upper-division coursework in economics and coursework with supervising instructor.

ECO 379D. Internship in Economics.

Students conduct research while working in an appropriate government agency or private business. Ten hours of fieldwork a week for one semester. May be repeated once for credit when the internships vary. Offered on the pass/fail basis only. Prerequisite: Economics 420K with a grade of at least C-.

ECO 379H. Honors Tutorial Course II.

Supervised individual reading, research, and writing of a substantial paper on a special topic in the field of economics. Conference course. Prerequisite: Economics 378H.