PhD

• ECON 8040 Macroeconomic Theory I

This course is a graduate-level introduction to modern theories of the aggregate economy. Students will develop a fundamental understanding of formal models explaining economic growth -- the performance of the economy in the long-run -- and aggregate fluctuations -- the performance of the economy in the short-run. The focus of the course is on developing and using these models to predict the response of overall production, employment and prices to external shocks and government policy. The course also introduces students to the basic analytical tools of dynamic analysis that are necessary for understanding these models.

• ECON 8130 Time Series Econometrics

This course is an introduction to the methods of time series analysis -- making inference from dependent (non-random) samples across time -- with applications in macroeconomics and finance. Most of what we know empirically about the overall economy and much about financial markets and asset prices is based on data that vary over time. We will discuss forecasting with time series data, but the primary focus is on using time series models for understanding economic theory making causal inference. After the course, doctoral students should have a reasonably deep and broad understanding of the basic toolkit available to time series econometricians.

Masters

• EMBA 7710 Economics for Business Leaders

This course is an introduction to the basic tools of microeconomics and macroeconomics. Microeconomic concepts of supply and demand, production, cost, and market structure are combined with macroeconomic issues concerning the determination of an economy’s aggregate level of production, employment and inflation, and the role of macroeconomic policy, to develop an understanding of the relationship between an enterprise and the economic environment in which it exists.

• ECON 4760/6760 Time Series Analysis

This course is a masters-level introduction to the statistical analysis of economic time series data, or more generally, data generated from dependent statistical processes. The focus is on fundamental models of time series processes, and how these models can be used to forecast and make inference about economic theory. Although we will learn some statistical theory, the main thrust of the course involves applications of time series models to the data. I assume students have mastered the basic tools of probability and statistical inference, have a good understanding of linear regression models, and are comfortable with linear algebra.

Undergraduate

• ECON 2105E Principles of Macroeconomics (online)

Macroeconomics is the study of the overall performance of the economy, typically measured by a nation's total output, or Gross Domestic Product (GDP). This course is an introduction to the basic macroeconomic models economists use to explain GDP and related economic activity. Topics covered include how the economy is measured, economic growth, the fundamental roles of labor markets, financial markets, money and inflation, exchange rates and international finance, short-run aggregate fluctuations, and macroeconomic stabilization policy. The purpose of this course is to provide students with the ability to apply the core principles of macroeconomics to their everyday life, to understand and critically analyze macroeconomic issues and policies that are reported and discussed in blogs and the popular press, and to build a foundation for more advanced study in the field.

• ECON 4020 Intermediate Macroeconomics

ECON 4020 is a senior level course in macroeconomics, the study of how the overall economy performs. We will develop and analyze macroeconomic models to understand how economies grow over the long-run, how the economy operates when resources are fully employed, why economic performance might deviate from its full-employment ideal in the short-run, and what policy-makers can do -- if anything -- to improve economic performance and human well-being. The level of the course goes well beyond macro principles in both breadth and depth. Students should expect to use and become proficient with the analytical tools of modern macroeconomics.

The pedagogical strategy of this course is to use face-to-face class lectures to cover macro models in more depth than the textbook -- for example, illustrations of the use of calculus for economic modeling -- relying on out-of-class textbook reading and online tests to ensure that students learn the material covered there that I might not discuss in class. While the material in class and the textbook may differ, both are strongly related and highly complementary. Thus, I hope to leverage the benefits of "distance" learning to enhance the rigor of the course.

• ECON 4100 Monetary Economics

Of all the institutions that have evolved to facilitate human interactions, money is certainly one of the most important. Throughout history, money has made it easy for people to specialize, produce, trade and prosper in the face of scarcity; without money, the world would be a very different (and poorer) place. Yet, it is often misunderstood. This course is an introduction to the economics of money and monetary institutions. We will carefully define money and explain its functions, examine its history and evolution, and use the basic theoretical tools of economics to understand its importance and influence on our everyday lives. And because governments are essential players in the monetary system -- for good or bad -- we will cover the basics of monetary policy: the attempt by the government to manipulate the quantity of money and interest rates to stabilize the economy and to prevent -- or mitigate -- the effects of financial crises.

• ECON 4750 Introductory Econometrics

ECON 4750 is an introduction to econometrics -- the application of statistical analysis to economic data. After taking this class, students will be able to specify and estimate linear regression models using both cross-sectional and time series data, test hypotheses about model parameters, and interpret the estimation and test results in light of economic theory.