Department of Economics at Illinois State University Department of Economics at Illinois State University Department of Economics at Illinois State University

Graduate Courses

Core Courses (required for all programs)

ECO 437 FUNDAMENTALS OF ECONOMETRICS (3 sem. hrs.)
Review of basic statistics. Study of linear regression model and tests of model assumptions. Prerequisites: ECO 105, 138; MAT 121 or 145.

ECO 438 MICROECONOMETRICS (3 sem. hrs.)
Econometrics techniques related to microeconomics. Topics include instrumental variables, model specification tests, simultaneous equations, cross-section and panel estimation, and binary choice models. Prerequisite: ECO 437.

ECO 439 APPLIED TIME SERIES ECONOMETRICS AND FORECASTING (3 sem. hrs.)
Study of structural models, univariate and multivariate time series models, and volatility models along with generation of forecasts. Prerequisite: ECO 438. (Not required for ACED sequence)

ECO 440 ADVANCED MICROECONOMIC THEORY I (4 sem. hrs.)
Optimization techniques, theory of consumer choice, theory of the firm, market equilibrium, and welfare economics. Prerequisites: ECO 240 and work in calculus.

ECO 441 ADVANCED MACROECONOMIC THEORY I (3 sem. hrs.)
National income analysis with emphasis on the contemporary theories of consumption, investment and interest, also consideration of the level, growth, and fluctuations of national income. Prerequisites: ECO 241 and work in calculus.

ECO 492 GRADUATE READINGS IN ECONOMICS (1-3 sem. hrs.)
For the graduate student who would benefit from a more specialized independent type of study adapted to his/her background and needs. Prerequisite: Consent of department chairperson and instructor. (Not required for ACED sequence)

ECO 495 GRADUATE RESEARCH IN APPLIED ECONOMICS (3 sem. hrs.)
Seminar course in applied economics research. Topics will vary by instructor, with students undertaking a substantial research project. Prerequisites: ECO 437, 438, 440, and 441.

Additional Required Courses (Listed by sequence)

Additional Required Courses for Sequence in Applied Community and Economic Development
POL/SOA 470 SEMINAR IN COMMUNITY DEVELOPMENT (3 hours)
POL/SOA 477 COMMUNITY PROJECT DESIGN AND MANAGEMENT (3 hours)
ECO/POL/SOA 478 TOPICS IN ADMINISTRATION AND PLANNING (2 hours)
ECO 498.03/498.90 PROFESSIONAL PRACTICE (5 hours)

Additional Required Courses for Sequence in Electricity, Natural Gas and Telecommunication Economics
ECO 335 ECONOMICS OF REGULATION AND ANTITRUST (3 hours)
The origins, aims, methods and effects of economic regulation and antitrust with an emphasis on case studies. Prerequisite: ECO 239 or 240.

ECO 435 PUBLIC UTILITY ECONOMICS (3 hours)
Principles and institutions of economic regulation, with applications to regulatory reform in the electricity, natural gas and telecommunications industries. Prerequisites: ECO 335 and 440.

ECO 435 PUBLIC UTILITY ECONOMICS (3 hours)
Principles and institutions of economic regulation, with applications to regulatory reform in the electricity, natural gas and telecommunications industries. Prerequisites: ECO 335 and 440.

Additional Required Courses for Sequence Financial Economics
FIL 404 Theory of Managerial Finance (2 hours)
FIL 440 Financial Management (3 hours)

Elective Courses in Applied Economics

ECO 320 INDUSTRIAL ORGANIZATION (3 sem. hrs.)
Theoretical and empirical analysis of basic influences on industrial markets and performances. Market practices, the role of competition, and related policy issues. Prerequisite: One 200-level ECO course.

ECO 326 ECONOMICS OF HUMAN RESOURCES (3 sem. hrs.)
Theoretical and empirical analysis of labor markets. Education and training, labor mobility, wage structure, discrimination, unemployment, wage and income policies. Prerequisite: ECO 225 or 240.

ECO 329 ECONOMIC ISSUES IN EDUCATION (3 sem. hrs.)
Analysis of economic issues in education including efficiency and equity, public vs. private provision of educational services, and education as human capital. Prerequisite: ECO 225 or 240.

ECO 339 ORGANIZATIONAL ECONOMICS (3 sem. hrs.)
Economic analysis of firm boundaries, make or buy decisions, incentive contracts and supply relationships, repeated interaction and reputations, organizational structure and related management applications. Prerequisite: ECO 239 or 240.

ECO 340 HEALTH ECONOMICS AND POLICY (3 sem. hrs.)
Study of the production of health care and the market forces that act on individuals, providers, institutions, and policy design. Prerequisite: ECO 240.

ECO 345 INTERNATIONAL TRADE (3 sem. hrs.)
Study of the causes and consequences of international trade. Analysis of tariffs, quotas, other trade restrictions, current trade policy and multinational corporations. Prerequisite: ECO 240 or 245.

ECO 346 INTERNATIONAL FINANCE (3 sem. hrs.)
Analysis of mechanisms of international payments and evaluation of the international monetary system. Topics include exchange rates, balance of payments, international monetary cooperation, and connections between the domestic and international economy. Prerequisite: ECO 241 or 245.

ECO 350 PUBLIC FINANCE (3 sem. hrs.)
Analysis of the economic impacts of government expenditures and taxes on the allocation of resources and the distribution of income. Prerequisite: One 200-level ECO course.

ECO 351 STATE AND LOCAL FINANCE (3 sem. hrs.)
Economic impacts of state and local government expenditures and taxes, cost benefit analysis, and intergovernmental fiscal relations. Prerequisite: One 200-level ECO course.

ECO 353 REGRESSION AND TIME SERIES ANALYSIS (4 sem. hrs.)
Regression and time series methods for business and economic applications, including exponential smoothing and Box-Jenkins methods. Computer statistical package used. Prerequisites: C or better in MAT 351 or equivalent or consent of instructor. Also offered as MAT 353.

ECO 360 HISTORY OF THE AMERICAN ECONOMY (3 sem. hrs.)
Recent empirical studies and applications of economic theory to historical problems in an American context. Causes of the Great Depression, economics of slavery, and roles of agriculture, industry, and government in growth. Prerequisite: Two 200-level ECO courses.

ECO 372 HISTORY OF ECONOMIC THOUGHT (3 sem. hrs.)
A study of economic analysis from the Mercantilists to the American Institutionalists. Relates earlier schools of thought to the contemporary. Prerequisite: Two 200-level ECO courses.

ECO 401 SURVEY OF ECONOMIC PRINCIPLES (3 sem. hrs.)
Compresses into a single semester matters ordinarily covered in two semesters of Economic Principles. Enrollment is limited to graduate students who have had no more than one semester of previous study in economics. Cannot be presented for graduate credit by a degree candidate in Economics or in the MBA program.

ECO 405 THEORIES OF ECONOMIC DEVELOPMENT (3 sem. hrs.)
Consideration of economic development theories and their implications for development policy to further economic growth. Prerequisite: ECO 205.

ECO 415 MONETARY ECONOMICS (3 sem. hrs.)
The role of money in economic activity; the precise nature of the demand and supply conditions; the policy implications of theoretical conclusions with regard to money. Prerequisite: ECO 438 and 441.

ECO 425 ADVANCED LABOR ECONOMICS (3 sem. hrs.)
Advanced theoretical and empirical analysis of labor demand, labor force participation, and determinants of earnings. Emphasis on contemporary econometric practice. Prerequisites: ECO 438 and 440.

ECO 445 INTERNATIONAL ECONOMIC ANALYSIS (3 sem. hrs.)
Pure theory of trade, and international finance, growth and trade, balance of payments adjustment, and the theory of exchange rate determination are considered. Prerequisite: ECO 345.

ECO 450 ADVANCED PUBLIC FINANCE (3 sem. hrs.)
Analysis of economic impacts of government expenditures and taxes on the allocation of resources and the distribution of income. Prerequisite: ECO 240. ECO 438 recommended.

ECO 490 SEMINAR IN ECONOMICS (1-4 sem. hrs.)
May be repeated for credit if different topics. Available as 490.04 Seminar in Local Economic Development. Prerequisite: Consent of department chairperson; in addition, for 490.04, must have had at least one course in Economics.

ECO 491 INTERNSHIP IN COLLEGE TEACHING IN ECONOMICS (3 sem. hrs.)
Credit for the course is given in Curriculum and Instruction (see C&I 491).

ECO 498 PROFESSIONAL PRACTICE IN ECONOMICS (1-12 sem. hrs.)
Practical experience in a professional capacity under the mentorship of a faculty member. Available as 498.01 Professional Practice: Co-op/Internship in Economics; 498.02 Professional Practice: Co-op/Internship in Electric, Natural Gas or Telecommunications Economics; 498.03 Professional Practice: Co-op/Internship in Community and Economic Development. Prerequisites: ECO 437, 438, 440, and 441 and a 3.0 or better GPA. A maximum of six hours may be submitted toward degree completion. Will not count toward the 400-level course requirement.

ECO 499 MASTER'S THESIS (1-6 sem. hrs.)