Catalog Course Descriptions
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Economics Courses
Undergraduate
Not available to economics majors. Broad introduction to economic concepts and how they can contribute to a better understanding of the world around us. Applies and develops concepts to current economic and social problems and issues. Less formal modeling than in the 103-104 sequence. Limited to three attempts.
Introduces microeconomics in the context of current problems. Explores how market mechanism allocates scarce resources among competing uses; uses supply, demand, production, and distribution theory to analyze problems. Limited to three attempts.
Introduces macroeconomics in the context of current problems. National income analysis, money and banking, economic growth and stability, unemployment, inflation, and role of government. Limited to three attempts.
Introduction to economic concepts and how they can be applied to environmental policy issues such as air and water pollution, climate change, natural resource use, and sustainability. Focus is on concepts, policy, and case studies rather than formal modeling exercises. Limited to three attempts.
Provides coverage of a specialized topic in economics at the introductory level. Topics vary by section. Notes: May be repeated for credit when topic is different. May be repeated within the term for a maximum 9 credits.
Basic factors of price and distribution theory: analysis of demand, costs of production and supply relationships, and price and output determination under various market structures. Limited to three attempts.
Analysis of major strategic business situations including pricing strategy, incentives and contracts, game theory, and vertical and horizontal integration. Limited to three attempts.
Economic problems in light of current and proposed public policies. Topics include environmental issues, international trade policies, and regulatory issues and their historical roots. Limited to three attempts.
Monetary, commercial, and central banking systems, with particular emphasis on their relationship with American government programs, fiscal policies, and controls. Limited to three attempts.
Aggregate economic accounts, including measuring national income; determinants of levels of income and output; and causes and solutions for problems of unemployment, inflation, and economic growth. Limited to three attempts.
Defines factors that determine levels of wages and employment, and economic consequences. Emphasizes recent developments in unionism, collective bargaining, and industrial technology. Limited to three attempts.
Covers intergovernmental financial relationships; types, incidences, and consequences of taxation; other sources of governmental income; governmental expenditures and their effect; public economic enterprises; public borrowing; and debt management and its economic effect. Limited to three attempts.
Microeconomic analysis of environmental problems. Topics include externalities and market failure, alternative solutions and policies, problems in monitoring and enforcement, economic analysis of development of legislation and regulation, and applications to current policy issues. Limited to three attempts.
Mathematical treatment of theory of firm and household behavior, stabilization policy, growth theory, input-output analysis, and linear programming. Limited to three attempts.
Modern statistical techniques in estimating economic relations. Limited to three attempts.
Applies the basic principles of economics to teach students to think critically about nonprofit institutions. Examines the economics of nonprofit institutions, how incentives influence the evolution of charities, and current issues in nonprofit organizations. Limited to three attempts.
Economic growth characteristic of developing countries. Economic development, obstacles to development, policies, and planning. Limited to three attempts.
Economic development, institutions, and problems of Latin America. Limited to three attempts.
Issues of economic development as applied to Africa. Includes overview of early economic history in Africa and post-independence development, and contemporary development problems. Limited to three attempts.
Possible topics include ancient, medieval, modern European, and American economic history, using econometric analysis as necessary. Notes: May be repeated when topic is different. May be repeated within the term for a maximum 6 credits.
Applies basic economic concepts and principles to issues facing the U.S. and global economies. Topics include productivity and economic growth, taxes, healthcare, globalization, income distribution and financial crises, with an emphasis on market structure, social institutions and the not-always rational behavior of investors and consumers. Equivalent to GOVT 367.
Factors influencing industrial structure, and industrial conduct and performance. Limited to three attempts.
Microeconomic analysis of health and medicine. Topics include the determinants of health, health externalities, health insurance, the health effects of medicine, the supply and demand of medicine, medical quality and regulation, and information asymmetries. Limited to three attempts.
Examines problems and achievements of formerly communist and socialist countries including China, Eastern European countries, and Russia and other countries of the former Soviet Union as they transition to more market-oriented economies. Includes market economics and central planning. Limited to three attempts.
Introduces economic way of thinking on trade and international finance. Presents historical and current information on consequences of trade and protectionism. Notes: May not be applied toward the elective course requirement needed for a major or minor in economics. Limited to three attempts.
Foreign exchange market, balance of payment, foreign trade policies, and theories of international trade. Limited to three attempts.
Develops students' ability to express economic arguments effectively through writing. Applies the basic principles of economics to teach students to think critically about economic problems. Limited to two attempts.
Students find economics-related internship with assistance from Career Services. Pre-internship proposal and final reflections paper required. Limited to three attempts.
Microeconomic and macroeconomic models and misallocation of resources. Alternative economic tools from noted Austrian economists. Limited to three attempts.
Applies economic theory, methodology to study nonmarket decision making. Limited to three attempts.
Introduces game theory and its relevance for analyzing framework of rules and institutions within which economic processes occur. Applies game theoretical concepts to comparative analysis of causes and effects of alternative institutional arrangements. Limited to three attempts.
Economic analysis of the law. Topics include introduction to legal institutions and legal analysis; application of economic concepts to the law of property, contracts and torts, criminal and constitutional law; economic efficiency of common law; and public choice perspective on the evolution of the law. Limited to three attempts.
Examines models of balance of payments, exchange rate behavior, and open economy macroeconomics. Includes international financial system and issues such as globalization and international financial instability. Limited to three attempts.
Provides a survey of financial economics including a brief overview of the U.S. and international financial system and the role of different financial institutions. Covers the leading theoretical models in the field. Limited to three attempts.
Examines various issues in the energy industry using tools from microeconomic theory, law and economics and public choice. Topics include issues related to oil, historical and current energy regulation, and environmental issues associated with energy. Limited to three attempts.
Topics include comparing two or more treatments, and computing and interpreting analysis of variance. Discusses randomized block, Latin square, and factorial designs; and applications to economics experiments. Limited to three attempts.
Covers issues in the philosophy, economics, and political science of institutions, information, and collective action. Through case studies of existing legal and political institutions, applies the insights to problems in politics, policy making, social-choice theory, and social, moral, and political philosophy. (Specific content varies). Notes: Serves as the capstone course for the PPE program. Equivalent to GOVT 469, PHIL 460.
Examines various issues surrounding concepts of regulation using tools from microeconomic theory and public choice. Topics include antitrust, rate regulation, policy rationales for regulation, and issues of current interest. Limited to three attempts.
Economic theory as it is applied to commercial airlines. Limited to three attempts.
Developments in economic thought from 1500 to the present. Emphasizes historical origins, impact on contemporary economics, and theoretical validity. Limited to three attempts.
Studies the thought of Adam Smith. As the first in a two-course sequence, course focuses on The Theory of Moral Sentiments. Limited to three attempts.
Studies the thought of Adam Smith. As the second in a two-course sequence, course focuses on The Wealth of Nations. Limited to three attempts.
Project-based course to develop an academic portfolio and demonstrate mastery in economic theory, statistical analysis, and critical thinking in the discipline of economics. Limited to three attempts.
Study abroad under supervision of George Mason faculty. Course topics, content, and locations vary. Notes: May be repeated with permission of department. May be repeated within the degree for a maximum 12 credits.
Experience learning opportunity as a culminating experience in the major with a focus on applying scholarly research in economics to practical problems in the workplace. Limited to three attempts.
Develops skills in finding and evaluating sources, oral presentation, and academic writing. Limited to three attempts.
Honors-level research on a self-selected topic in economics culminating in a substantial research paper and an oral presentation. Notes: Requirements for departmental honors in the major are in addition to the coursework required for the major. ECON 495 credit may not be applied toward the elective course requirement needed for a major or minor in economics. May be repeated within the degree for a maximum 6 credits.
Subject matter varies. Notes: May be repeated when topic is different. May be repeated within the term for a maximum 24 credits.
Individual study of selected area of economics. Notes: Directed research paper required. May be repeated within the term for a maximum 9 credits.
Possible topics include ancient, medieval, modern European, and American economic history, using econometric analysis as necessary. Notes: May be repeated when topic is different. May be repeated within the term for a maximum 6 credits.
Subject matter varies. Notes: May be repeated when topic is different. May be repeated within the term for a maximum 24 credits.
Graduate
Applied introduction to estimating economic relationships. Includes simple equation and simultaneous equation system estimation. Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. May not be repeated for credit.
Covers theory of behavior of consumers, firms, and resource suppliers; theories of choice under risk and uncertainty; partial equilibrium analysis of competitive and noncompetitive markets; general equilibrium analysis; and welfare economics. Introduces capital theory. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. May not be repeated for credit.
Nature of the firm; theory of supply; and production functions, factor pricing, and supplies. Introduces microeconomic foundations of theories of public finance and public choice. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. May not be repeated for credit.
Survey course covering monetary theory, theories of consumption and saving, budget deficits, economic growth, international finance, and monetary and fiscal policies. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. May not be repeated for credit.
Explores development of American economy and evolution of economic institutions. Notes: ECON 637 recommended. May not be repeated for credit.
Topics covered include: constrained maximization, differential calculus, integral calculus, linear algebra, matrix algebra, probability, and set theory. Emphasis is placed on economic applications.
Notes: Non-Degree students are permitted to enroll depending on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. May not be repeated for credit.
Techniques of estimating relationships between economic variables. Introduces multiple regression and problems associated with single equation model-autocorrelation, multicollinearity, and heteroscedasticity. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. May not be repeated for credit.
Capitalism, socialism, and corporatism historical perspective. Includes examination of economies of representative contemporary countries. May not be repeated for credit.
This is a project-based course where students develop an academic portfolio to demonstrate their mastery in economic theory, statistical analysis, and critical thinking in the discipline of economics. May not be repeated for credit.
Topics vary according to interests of instructor. Emphasizes new areas of discipline. May be repeated within the term.
Covers classical, neoclassical, Keynesian, and post-Keynesian theories of income and employment determination; theories of inflation and growth; and demand for money and implications for effectiveness of monetary vs. fiscal policy. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. May not be repeated for credit.
Research on approved thesis topic under direction of thesis committee. Notes: Students must register for a minimum of three credit hours in their first semester of 799 and maintain continuous enrollment in 799 while writing and submitting a thesis. A maximum of 6 credits of 799 may be applied to the degree. May be repeated within the degree.
Theory and applications of behavior of consumers, firms, and resource suppliers. Partial equilibrium analysis of various market structures and introduction to intertemporal choice and capital theory. Review and analysis of classic works in microeconomic theory. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. May not be repeated for credit.
Examines nature of firm; theory of supply; and production functions, factor pricing, and supplies. Introduces microeconomic foundations of theories of public finance and public choice. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. May not be repeated for credit.
Aggregate economic activity and price levels with emphasis on dynamic models. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. May not be repeated for credit.
Theory of mechanisms through which central banking affects economic activity and prices. Analyzes demand for money and its relationship to economic activity. Develops monetary theory with emphasis on current theories and controversies in the field. May not be repeated for credit.
Covers development of economic analysis from marginal revolution of 1877 to present. Emphasizes development of neoclassical economic theory. May not be repeated for credit.
Offers economic analysis of various historical epochs including Industrial Revolution, evolution of political reform, rise of unions, and growth of government. May not be repeated for credit.
Covers economic process of public policy formulation and implementation; and economic behavior of principals in policy making and execution. May not be repeated for credit.
Analyzes philosophical organization, including interrelations between economics and legal and political institutions; philosophical presuppositions of capitalist economy under constitutional democracy; alternative presuppositions for non-capitalist economies; and critical evaluation of history of ideas in social and moral philosophy. May not be repeated for credit.
Analyzes existing and proposed elements of economic constitution. Emphasizes fiscal, monetary, transfer, and regulatory powers of government and constitutional limits on such powers, especially in the United States. Includes analysis of proposed changes in limits. May not be repeated for credit.
Analyzes framework of rules and institutions for economic activities and transactions. Includes emergence and working properties of different institutions, and classical and contemporary approaches to economic theory of institutions. May not be repeated for credit.
Includes algebra and multivariate calculus applied to advanced economic problems. Also covers unconstrained and constrained optimization, formal models of market equilibrium, and models of economic dynamics in continuous and/or discrete time. Notes: Non-degree students are permitted to enroll on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. May not be repeated for credit.
Develops the foundations of choice, price, and general equilibrium theory. Topics include choice, preference and utility; consumer demand; competitive firms; general equilibrium; and social choice and welfare. Special attention is paid to uncertainty and dynamic choice. May not be repeated for credit.
Explores econometric models and simultaneous equation systems. Includes identifying parameters and least squares bias, alternative estimation methods, and block recursive systems. May not be repeated for credit.
Uses economics to analyze U.S. Common-law system, evaluating efficiency and logic of evolution. Notes: No prior knowledge of law required. May not be repeated for credit.
Explores empirical analyses of law of property, torts, crime, and family. Also looks at law's effects on freedom and economic growth. May not be repeated for credit.
Explores the moral philosophy of Adam Smith, with a focus on The Theory of Moral Sentiments, which is studied cover-to-cover in "Great Books" fashion. May not be repeated for credit.
Structure of American industry and underlying determinants. Includes structure and conduct on industrial performance in light of theory and empirical evidence; and rational antitrust policy and analysis of impact on structure and performance. May not be repeated for credit.
Explores the political economy of Adam Smith, with a focus on The Wealth of Nations, which is studied cover-to-cover in "Great Books" fashion. May not be repeated for credit.
Covers relationship of law, economics, and theories of social control of property rights. Includes theories of market structure and industrial performance. May not be repeated for credit.
Applies economic theory and methodology to study of nonmarket decision making. May not be repeated for credit.
Applies public choice approach to study such topics as causes and consequences of governmental growth, behavior of public bureaucracies, and economic reasoning behind constitutional limitations on size and growth of government. May not be repeated for credit.
Explores the economics of non-market decision making. Considers the application of rational choice theory to decision making by a variety of persons who are neither traditional buyers nor sellers in a variety of contexts that are not traditional markets. May not be repeated for credit.
Explores forces contributing to or retarding economic progress in developing countries. Includes role of foreign trade, economic integration, foreign investment, multinational corporations, and technological transfers. May not be repeated for credit.
Examines international adjustment mechanism, price and income effects, controls, and monetarist approach; development of international monetary system; demand for international reserves; capital movements; and role of International Monetary Fund. May not be repeated for credit.
Examines theory developed by Menger, Mises, Hayek, and others of the Austrian School; and compares with other popular theories. May not be repeated for credit.
Continuation of ECON 880. Explores the market-process approach to analyzing capital accumulation and growth; money and credit institutions; inflation and unemployment; and industrial fluctuations. May not be repeated for credit.
Designed for graduate students to learn how experimental methods can be used to inform economic research and practice. Students expected to have working understanding of basic economic concepts and multivariate calculus. May not be repeated for credit.
Research in experimental design. Topics represent basic tools to build, test, and implement exchange mechanisms in an applied setting. May not be repeated for credit.
Topics vary according to interests of instructor. Emphasizes new areas of discipline. May be repeated within the term.
Independent reading and research paper on a topic agreed on by student and faculty member. May be repeated within the term.
Designed for graduate students who have taken Experimental Economics and Economic Systems Design and are applying experimental methods to their own or collaborative research projects. May be repeated within the degree for a maximum 6 credits.
Research on prospective dissertation topic. Notes: For students who have completed course work but have not yet advanced to candidacy. May be repeated within the degree.
Research on approved dissertation topic under direction of dissertation committee. Notes: 24 credits may be applied to doctoral degree requirement. May be repeated within the degree.
Topics vary according to interests of instructor. Emphasizes new areas of discipline. May be repeated within the term.
Topics vary according to interests of instructor. Emphasizes new areas of discipline. May be repeated within the term.
