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UWM Undergraduate Catalog 2014-2015


College of Letters and Science


ECON Economics



This course information produced at 01:00 on 08/29/2014.
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A. General Economics

100 Introductory Economics. 3 cr. U. A one semester survey of current national and international economic problems. Useful as preparation for Econ 103 and 104. Not required of economics majors.|Not open for cr to students who have cr in Econ 103 & 104. Prereq: none.

103 Principles of Microeconomics. 3 cr. U. Economic reasoning; price determination, specialization, and efficiency. Applications include international trade, antitrust, environmental protection, highway congestion.|Prereq: none.

104 Principles of Macroeconomics. 3 cr. U. Composition of national income, interrelationship of sectors; determination of national income and productivity; relationship between national income, inflation, money, interest rates; U.S. global economies interaction.|Prereq: none.

110 Economics of Personal Finance. 1 cr. U. Economics of personal financial management; development of successful financial skills; activity-based course with assignments emphasizing students' individual situations.|No cr for students who have cr in Econ 258 w/same topic. Prereq: none.

193 First-Year Seminar: (Subtitled). 3 cr. U. The specific topics are announced in the Schedule of Classes each time the class is offered.|Open only to freshmen. Students may earn cr in just one L&S First-Year Sem (course numbers 192, 193, 194). Prereq: none.

199 Independent Study. 1-3 cr. U. For further information, consult dept chair.|Retakable to 6 cr max. Prereq: 2.5 gpa; writ cons instr, dept chair & asst dean for SAS.

210 Economic Statistics. 3 cr. U. Basic probability and statistics; numerical and graphical methods of describing data, elementary probability, random variables and probability distributions, hypothesis testing, simple linear regression.|Prereq: Math 105(P), or Math 108(P), or math placement level B or higher.

248 Economics of Discrimination. 3 cr. U. Use of economic theory to examine the history, current status, and policies regarding various minority groups in the United States. Applications include education, housing, jobs.|Prereq: none.

258 Selected Topics in Economics: (Subtitled). 1-3 cr. U. Focus on special topics not normally discussed in detail in other existing courses.|Retakable w/chg in topic to 9 cr max. Prereq: soph st; cons instr.

289 Internship in Economics, Lower Division. 1-6 cr. U. Application of basic principles of economics in a business, organizational, educational, political, or other appropriate setting.|One cr granted for academic work based on 40 hrs in the internship. Retakable to 6 cr max. Prereq: 100-level course in Econ; 2.25 gpa; cons supervising faculty member.

297 Study Abroad: (Subtitled). 1-12 cr. U. Designed to enroll students in UWM sponsored program before course work level, content and credits are determined and/or in specially prepared program course work.|Retakable w/chg in topic. Prereq: acceptance for Study Abroad Prog.

299 Ad Hoc: (Subtitled). 1-6 cr. U. Course created expressly for offering in a specified enrollment period. Requires only dept & assoc dean approval. In exceptional circumstances, can be offered in one add'l sem.|Retakable w/chg in topic. Prereq: none; add'l prereqs may be assigned to specific topic.

381 Honors Seminar: (Subtitled). 3H cr. U. Examination of current economic issues such as energy, environment, poverty, and human resource development.|Retakable w/chg in topic to 9 cr max. Prereq: soph st; Honors 200(P); cons Honors College dir.

458 Selected Topics in Economics: (Subtitled). 3 cr. U/G. Variable content course designed to focus on special topics not normally discussed in detail in other existing courses.|Retakable w/chg in topic. Prereq: jr st & cons instr.

489 Internship in Economics, Upper Division. 1-6 cr. U. Application of advanced principles of economics in a business, organizational, educational, political, or other appropriate setting.|One cr granted for academic work based on 40 hrs in the Internship. Retakable to 6 cr max. Prereq: jr st; 300-level or above course in Econ; 2.25 gpa; cons supervising faculty member.

497 Study Abroad: (Subtitled). 1-12 cr. U/G. Designed to enroll students in UWM sponsored program before course work level, content, and credits are determined and/or in specially prepared program course work.|Retakable w/chg in topic. Prereq: jr st; acceptance in Study Abroad Prog.

499 Ad Hoc: (Subtitled). 1-6 cr. U. Course created expressly for offering in a specified enrollment period. Requires only dept & assoc dean approval. In exceptional circumstances, can be offered in one add'l sem.|Retakable w/chg in topic. Prereq: jr st; add'l prereqs may be assigned to specific topic.

697 Organizational Administration Capstone. 3 cr. U. Internship, case analysis, or independent study that sythesizes course work in graded paper.|Commun 697, Econ 697, & Sociol 697 are jointly offered; they count as repeats of one another. Prereq: sr st; declared org adm major; satisfaction of GER English Composition competency req; cons instr.

699 Independent Work. 1-3 cr. U. |Retakable w/topic chg. Prereq: jr st, 2.5 gpa & writ cons instr, dept chair & asst dean for SAS.

B. Economic Theory

301 Intermediate Microeconomics. 3 cr. U. Contemporary theory of consumption, production, pricing, resource allocation, and distribution.|Prereq: Econ 103(P).

302 Intermediate Macroeconomics. 3 cr. U. Analysis of savings, production, investment and other aggregates in the national and international economy as related to the determination of national income, inflation, and unemployment.|Prereq: Econ 104(P).

404 (453) Economic Applications of Game Theory. 3 cr. U. Strategic interaction among decision makers. Studies multi-party decision problems of a firm, a government, or a country.|Prereq: jr st; Econ 301(R) or cons instr.

506 Mathematical Economics I. 3 cr. U/G. Mathematical techniques used in economic analysis, including calculus and matrix algebra. Applications include optimizing behavior of firms and consumers.|Prereq: jr st; Econ 301(P); Math 211(P) & cons instr, or Math 231(P). Math 232(R) & 233(R).

606 Mathematical Economics II. 3 cr. U/G. Difference and differential equations applied to economic variables such as human capital, consumption, learning, energy use, and pollution. Essential preparation for graduate work.|Prereq: jr st; Econ 506(P).

C. Quantitative Methods

310 Research Methods for Economics. 3 cr. U/G. Statistical research methods, especially cross-section and time-series regression, applied to evaluation of empirical literature and a directed research project.|Not open for cr to students who have cr in Econ 513(531). Prereq: jr st; Econ 210(P) or cons instr.

411 Economic Forecasting Methods. 3 cr. U/G. Economic time series, analysis, forecasts. Trends, seasonality, cycles, smoothing procedures. Simulation models; sample survey methods. Extensive applications using macro and financial data. Forecasting software use.|Prereq: jr st; Econ 210(P).

413 Statistics for Economists. 3 cr. U/G. Elements of probability; joint marginal and conditional distributions; measures of central tendency and dispersion, calculus of expectations; central limit theorem. Estimation and testing of economic relations.|Prereq: jr st; Econ 210(P); Math 211(P) & cons instr, or Math 231(P). Math 232(R) & 233(R).

513 (531) Introduction to Econometrics. 3 cr. U. Multiple regression, generalized least squares, specification analysis, multicollinearity, multiple equations including simultaneous equations.|Prereq: jr st; Econ 413(P).

D. The Economics of Public Policy

325 (330) Money and Banking. 3 cr. U. Stocks, bonds, derivatives, foreign exchange. Analysis of commercial banks, investment banks, brokerages, etc. Domestic and international monetary theory and policy. Risk insurances, regulations, deregulation..|Prereq: Econ 104(P).

328 (428) Environmental Economics. 3 cr. U. Evaluating public policy of environmental and natural resources. Regulation of pollution, endangered species, natural resources, and other case studies.|Prereq: Econ 103(P).

426 Public Economics. 3 cr. U/G. Economic analysis of government and policy, including taxation and expenditures, policy responses to market failures, redistributional programs, and related topics.|Prereq: jr st; Econ 104(P) & 301(P).

450 (221) Health Economics. 3 cr. U/G. Efficiency of medical care, health insurance and access to care, alternative models of health care delivery, health behaviors and public policy.|Prereq: jr st; Econ 103(P).

525 The Economics of Water. 3 cr. U/G. Comprehensive development of water resource economics for engineers, scientists, and economists; analysis of the public and private sector economics of water resources.|Prereq: jr st; Econ 103(P); Math 231(P); a statistics course; or cons instr.

E. Strategy, Law, and the Economy

231 Analysis of American Industries. 3 cr. U. Performance of key U.S. industries (e.g. education, beer, cars, medicinal drugs, radio, television, sports, steel, food, music recording); their responses to changing national/international economic conditions.|Prereq: soph st; Econ 103(P).

333 Economics and Law. 3 cr. U. Economic roles of civil/criminal law through definition/enforcement of property, contract, civil rights. Applications: breach of contract, compensation for injury, medical malpractice, sexual harassment.|Prereq: Econ 103(P).

335 Economics of Antitrust Laws. 3 cr. U. Examination of laws intended to increase competition; their evolution through landmark cases involving price fixing, mergers toward monopoly, and unfair competition including IBM, AT&T, Microsoft.|Prereq: Econ 103(P).

432 (452) Industrial Organization. 3 cr. U/G. Economic analysis of asymmetric information, barriers to competitive entry, licensing, pricing practices/transactions costs; application to markets for insurance, computers, health care, used cars, food.|Prereq: jr st; Econ 301(P).

F. Labor Economics

415 Economics of Employment and Labor Relations. 3 cr. U/G. Analysis of wage setting, labor markets, human capital and collective bargaining. Study of labor standards, regulation and the role of unions and government.|Prereq: jr st; Econ 103(P).

447 (451) Labor Economics. 3 cr. U/G. The economics of unions, minimum wage, poverty and welfare programs; influence of international trade on domestic labor markets. Study of labor supply and labor demand.|Prereq: jr st; Econ 301(P).

448 (478) Economics of Human Resources. 3 cr. U/G. The economics of education, training, discrimination, and workplace incentives. Study of hiring, promotion, and job search.|Prereq: jr st; Econ 103(P) or cons instr.

G. International Economic Relations

351 Introduction to International Economic Relations. 3 cr. U. International economics and finance, determinants and structure of international trade, commercial policy, foreign exchange markets, and balance of payments.|Not open for cr to students who have cr in both Econ 454 & 455. Prereq: Econ 100(P); or both 103(P) & 104(P).

353 Economic Development. 3 cr. U. Examination of determinants of growth, modernization, poverty, and inequality in developing countries of Africa, Asia, and Latin America. Analysis of development strategies.|Prereq: Econ 103(P) & 104(P).

454 International Trade. 3 cr. U/G. Why countries trade; who wins, who loses; facts about world trade; political economy of trade. Balance of payments, Asian crisis, European Union, American wage dispersion.|Prereq: jr st; Econ 301(P).

455 International Finance. 3 cr. U/G. International monetary system; spot and foreign exchange markets; balance of payments; international adjustment mechanisms; international finance policy; history and institution.|Prereq: jr st; Econ 302(P).

This course information produced at 01:00 on 08/29/2014.

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