ECO 108: Introduction to Economics

An introduction to economic analysis. Microeconomics (the study of individual, firm, industry, and market behavior) and macroeconomics (the study of the determination of national income, employment, and inflation). This course has been designated as a High Demand/Controlled Access (HD/CA) course. Students registering for HD/CA courses for the first time will have priority to do so.

Prerequisite: C or higher in MAT 122 or MAT 123 or AMS 151 or level 4 on the mathematics placement examination

DEC:     F
SBC:     SBS

4 credits

ECO 110: Introduction to Microeconomics

This course is an introduction to how economists think about the world with an emphasis on the behaviors of agents. It is recommended for students that wish to take a single course of economics and it is required for students that will major in economics, and it is part of the introductory sequence along with ECO 111. Any other course you take in economics will build upon the knowledge and skills you develop in ECO110 and the companion ECO 111. Hence, some fundamental concepts will be covered with some degree of complexity, even though this is an introductory course. Not to be taken for additional credit if previously completed ECO 108.

Prerequisite: C or higher in MAT 122 or MAT 123 or AMS 151 or level 4 on the mathematics placement examination.

Anti-requisite: Students may not enroll for ECO 110 or ECO 111 if currently or previously taken ECO 108.

3 credits

ECO 111: Introduction to Macroeconomics

This course is an introduction to how economists, in particular macroeconomists, think about the world. It is required for students that will major in economics and recommended along with ECO 110 to those who want an overview of economics. Any other course you take in economics will build in part upon the knowledge and skills you develop in ECO111, along with ECO 110. Hence, some fundamental concepts will be covered with some degree of complexity, even though this is an introductory course. Not to be taken for additional credit if previously completed ECO 108.

Prerequisite: C or higher in MAT 122 or MAT 123 or AMS 151 or level 4 on the mathematics placement examination.

Anti-requisite: Students may not enroll for ECO 110 or ECO 111 if currently or previously taken ECO 108.

3 credits

ECO 303: Intermediate Microeconomic Theory

Analytical study of the behavior of fundamental economic units (consumer and the firm) and its implications for the production and distribution of goods and services. Emphasis on the use of economic theory to provide explanations of observed phenomena, including the analytical derivation of empirically verifiable propositions. This course has been designated as a High Demand/Controlled Access (HD/CA) course. Students registering for HD/CA courses for the first time will have priority to do so.

Prerequisites: C or higher in ECO 108; C or higher in MAT 125 or AMS 151 or placement level 6 on the mathematics placement examination

DEC:     F
SBC:     SBS+

4 credits

ECO 305: Intermediate Macroeconomic Theory

The theory of national income determination, employment, distribution, price levels, inflation, and growth. Keynesian and classical models of the different implications of monetary and fiscal policy. This course has been designated as a High Demand/Controlled Access (HD/CA) course. Students registering for HD/CA courses for the first time will have priority to do so.

Prerequisites: C or higher in ECO 108; C or higher in MAT 125 or AMS 151 or placement level 6 on the mathematics placement examination

DEC:     F
SBC:     SBS+

4 credits

ECO 310: Basic Computational Methods in Economics

A first course in the computational and graphical techniques for finding numerical solutions to a small set of economic models (such as the Edgeworth Box) based on concepts and constructs presented in the intermediate microeconomics course. Includes the foundations of programming (using a symbolic algebra language), and finding maxima of functions, finding equilibria of markets, and exploring and fitting functions graphically. Emphasis is put on understanding the connections between the concepts, the algebra, the computation, and the graphical presentation of economic models and on using the numerical models to perform experiments.

Prerequisite: C or higher in ECO 303

4 credits

ECO 320: Mathematical Statistics

An introduction to statistical methods and their properties that are useful in analysis of economic data. Topics include elements of probability theory and its empirical application, univariate and multivariate distributions, sampling distributions, limiting distributions, and point and interval estimation. Regular problem sets and occasional projects are required. Not for credit in addition to AMS 310. This course has been designated as a High Demand/Controlled Access (HD/CA) course. Students registering for HD/CA courses for the first time will have priority to do so.

Prerequisites: C or higher in MAT 122 or MAT 123 or AMS 151 or placement level 4 on the mathematics placement examination

4 credits

ECO 321: Econometrics

The application of mathematical and statistical methods to economic theory. Topics include the concept of an explanatory economic model, multiple regression, hypothesis testing, simultaneous equation models, and estimating techniques. Emphasis is placed on the application of econometric studies.

Prerequisites: C or higher in ECO 320 or AMS 310; C or higher in ECO 108

4 credits

ECO 322: Data Science and Machine Learning in Economics

A rigorous introduction to the data-science techniques, including machine learning and GIS mapping, that are being applied in economics.

Prerequisite: C or higher in ECO 320 or AMS 310

Advisory pre- or co-requisite: C or higher in ECO 321

3 credits

ECO 323: Applied Microeconomics

Exploration of the connection between economic theory and its applications, with a special emphasis on the use of econometric techniques. Real-life examples are used to examine how computer software and the internet allow us to better understand a problem, analyze a question, or find an answer. Computers are used intensively to learn about financial and business decisions, economic models, and econometric methodology. Models of inter-temporal choice, investment, investment under uncertainty, migration, retirement, housing decisions, economics of regulation, education, financial options, and many others are explored with real examples, often with real data and econometric tools. Students are expected to consult many sources and think analytically for problem sets, exams, and in class.

Prerequisites: C or higher in ECO 303; C or higher in ECO 320 or AMS 310

Advisory Prerequisite: ECO 321

4 credits

ECO 324: Empirical Industrial Organization

This course provides students with a rigorous introduction to the topics and methods of Empirical Industrial Organization (IO). It covers topics related to the empirical analysis of how markets work, how firms compete or collude with each other, and how these interactions determine profits and consumer welfare. This course emphasizes the importance of combining good data, reasonable economic models, and appropriate econometric techniques to answer empirical questions in Industrial Organization and in Economics in general.

Prerequisite: C or higher in ECO 303 and ECO 320

Advisory prerequisite or co-requisite: ECO 326 and ECO 321

4 credits

ECO 325: International Trade

International trade of goods and services, the global integration of production, multinational enterprises, specialization and increasing returns, market power and pricing-to-market, trade policy, and the welfare consequences of policy reforms. Formerly offered as ECO 325 International Economics. Not for credit in addition to ECO 325 International Economics.

Prerequisite: C or higher in ECO 303 and ECO 305

3 credits

ECO 326: Industrial Organization

A study of the structure of firms and markets and interactions between them. Price theory, strategic theory and transaction costs analysis are used to illuminate the sources of and limitations on market power of firms. Some empirical evidence, drawn primarily from the U.S. economy, is explored. A brief introduction to antitrust policy and regulatory policy is included.

Prerequisite: C or higher in ECO 303

3 credits

ECO 327: Health Economics

An application of microeconomics to the health sector of the economy. Topics include the demand for health care; the roles of hospitals, physicians, and HMOs in the supply of health care; the role of the government in the provision of health care; and the detriments of health care costs.

Prerequisite: C or higher in ECO 303 and ECO 305

DEC:     F
SBC:     SBS+

3 credits

ECO 329: Urban Economics

Construction of models to explain aspects of cities, including existence, dynamics, and land use patterns. Concepts include Lorenz Curve, externalities, tipping points, bid-rent curves, and separation of economic activities. Uses algebra, pre-calculus, graphing, and calculus. Computer spreadsheets and scientific hand calculators used.

Prerequisite: C or higher in ECO 303 and ECO 305

Advisory Prerequsite: MAT 131

3 credits

ECO 334: Demographic Economics of Developing Countries

Problems related to both economics and demography. In scope, the material deals with both contemporary and historical situations in developing countries. Microeconomic aspects of the course concern fertility, marriage, divorce, and migration; macroeconomic aspects concern the implications for growth and development of various patterns of population increase.

Prerequisites: C or higher in ECO 320 or AMS 310; C or higher in ECO 303 and 305

DEC:     J
SBC:     SBS+

3 credits

ECO 335: Economic Development

An examination of problems and aspects facing developing countries in the transition from traditional, predominantly rural economic systems to modern, largely urban-oriented economies. Theories of economic growth and development are presented in the light of the actual experience of developing countries.

Prerequisites: C or higher in ECO 303 and ECO 305; MAT 126 or 131 or 141 or AMS 151

3 credits

ECO 337: Labor Theory

Microeconomic theory is used to investigate specific topics in the field of labor economics. Areas to be covered include the household's decision-making process and the supply of labor, investments in human capital and discrimination in the marketplace, the effect of market structure on the demand for labor, and the distribution of income.

Prerequisite: C or higher in ECO 303

3 credits

ECO 348: Analysis for Managerial Decision Making

Development of analytical techniques (such as linear programming and statistical decision theory) for making economic decisions, both in public and private enterprises. The student makes decisions on large-scale and detailed cases in realistic managerial situations and is introduced to the use of the computer. May not be taken for credit after BUS 249. Not for credit in addition to the discontinued BUS 349.

Prerequisite: C or higher in ECO 303

4 credits

ECO 351: Special Topics in Economics

May be repeated as the topic changes.

Prerequisite: C or higher in ECO 303

3 credits

ECO 352: Special Topics in Economics

May be repeated as the topic changes.

Prerequisite: C or higher in ECO 303 and ECO 305

3 credits

ECO 354: Special Topics in Economics

May be repeated as the topic changes.

Prerequisite: C or higher in ECO 303 and ECO 305

3 credits

ECO 355: Game Theory

Introduction to game theory fundamentals with special emphasis on problems from economics and political science. Topics include strategic games and Nash equilibrium, games in coalitional form and the core, bargaining theory, measuring power in voting systems, problems of fair division, and optimal and stable matching. This course is offered as both AMS 335 and ECO 355.

Prerequisites: MAT 126 or 131 or AMS 151; C or higher in ECO 303

SBC:     SBS+

3 credits

ECO 356: Special Topics in Economics

May be repeated as the topic changes.

Prerequisite: C or higher in ECO 303 and ECO 305

3 credits

ECO 357: Special Topics in Economics

May be repeated as the topic changes.

Prerequisite: C or higher in ECO 303 and ECO 305

3 credits

ECO 359: Reading and Writing in Economics

Provides opportunity to practice the skills and techniques of effective academic writing and satisfies the learning outcomes of the Stony Brook Curriculum's WRTD learning objective.

Prerequisite: C or higher in ECO 303 and ECO 305; WRT 102; U4 standing; ECO major

SBC:     WRTD

3 credits, S/U grading

ECO 360: Money and Banking

An introduction to modern monetary institutions and mechanisms, their relationship to the economy, and governmental policies in this area.

Prerequisite: C or higher in ECO 305

3 credits

ECO 362: Financial Economics

An analysis of financial decision making inside the corporation, covering topics such as the choice of the dividend policy, the choice between equity and debt and the interaction between financing and investment decisions. We will also look at how market imperfections, in particular the existence of informational differences between managers and investors, influence the performance of corporations. Finally, we study the optimal policies to cope with market imperfections.

Prerequisites: C or higher in ECO 303; C or higher in ECO 320 or AMS 310

3 credits

ECO 364: Thinking Strategically

A focus on the strategic interaction between several decision makers. Topics include: optimal decisions of firms interacting in markets with imperfect competition, the value of information under strategic conflict, optimal bidding strategies for various auction mechanisms (including online auctions), optimal networking design, Blackjack and others.

Prerequisite: C or higher in ECO 303

3 credits

ECO 373: Economics of Environment and Natural Resources

Analysis of economic policies designed to deal with environmental problems. Issues involving the management of renewable and exhaustible resources such as timber and oil as well as the advantage of market-based solutions over the conventional demand approach are discussed.

Prerequisite: C or higher in ECO 303 and ECO 305

DEC:     H
SBC:     STAS

3 credits

ECO 383: Public Finance

Theories of taxation and the satisfaction of public wants; the nature of public goods; theory of public expenditure; effects of taxes on resource allocation and welfare; theories of tax incidence; fiscal and equity implications of alternative tax schemes; fiscal dynamics and growth; intergovernmental fiscal relations.

Prerequisites: C or higher in ECO 303 and 305

3 credits

ECO 385: U.S. Economic History

The application of economic theory and statistical methods to analyze historical topics and themes. Topics may include the economic causes of the Revolutionary War; the economics of slavery; share cropping and debt peonage in the South after the Civil War; the economics of the resumption of the gold standard; the "cross of gold", the causes of the Great Depression, post World War II economic growth, and the causes and consequences of the Great Recession. Themes include an analysis of the American economic growth from the 1820's through today; the government's role in economic development; and the contributions of natural increase and migration to U.S. labor force and population increase.

Prerequisite: ECO 303 and ECO 305

Advisory Prerequisite: ECO 320

3 credits

ECO 386: International Finance

International capital flows, prices, and quantities, including the determination of the Current Account, exchange rates, interest rates, arbitrage, open macroeconomics, and the international monetary system.

Prerequisite: C or higher in ECO 303 and ECO 305

3 credits

ECO 389: Corporate Finance

Introduction to the main concepts and problems confronted by financial managers in the corporate world. Development and application of tools and methods for financial decision-making and analysis, including: discounting and present value; asset valuation; investment criteria; risk and return; risk management; cost of capital; debt and dividend policies; international financial management.

Prerequisite: C or higher in ECO 303

Advisory Prerequisite: C or higher in ECO 305

3 credits

ECO 444: Experiential Learning

This course is designed for students who engage in a substantial, structured experiential learning activity in conjunction with another class. Experiential learning occurs when knowledge acquired through formal learning and past experience are applied to a "real-world" setting or problem to create new knowledge through a process of reflection, critical analysis, feedback and synthesis. Beyond-the-classroom experiences that support experiential learning may include: service learning, mentored research, field work, or an internship.

Prerequisite: WRT 102 or equivalent; permission of the instructor and approval of the EXP+ contract (http://sb.cc.stonybrook.edu/bulletin/current/policiesandregulations/degree_requirements/EXPplus.php)

SBC:     EXP+

0 credit, S/U grading

ECO 459: Write Effectively in Economics

A zero credit course that may be taken in conjunction with any 300- or 400-level ECO course, with permission of the instructor. The course provides opportunity to practice the skills and techniques of effective academic writing and satisfies the learning outcomes of the Stony Brook Curriculum's WRTD learning objective.

Prerequisite: WRT 102; permission of the instructor

SBC:     WRTD

0 credit, S/U grading

ECO 475: Undergraduate Teaching Practicum I

Work with a faculty member as an assistant in one of the faculty member's regularly scheduled classes. The student is required to attend all the classes, do all the regularly assigned work and meet with the faculty member at regularly scheduled times to discuss the intellectual and pedagogical matters relating to the course.

Prerequisites: Permission of instructor and department

SBC:     EXP+

3 credits, S/U grading

ECO 476: Undergraduate Teaching Practicum II

Work with a faculty member as an assistant in one of the faculty member's regularly scheduled classes. Students assume greater responsibility in such areas as leading discussions and analyzing results of tests that have already been graded. Students may not serve as teaching assistants in the same course twice.

Prerequisite: C or higher in ECO 475; permission of instructor and department

SBC:     EXP+

3 credits, S/U grading

ECO 487: Independent Research in Economics

An independent project, developed out of advanced coursework in economics, designed in consultation with and supervised by a faculty member. The project should be formulated before the start of the semester in which the research will be done and should culminate in a substantial written paper of at least 15 pages. May be repeated.

Prerequisites: C or higher in ECO 303 and ECO 305; at least one upper-division ECO course that forms the basis of research; permission of a supervising faculty member

0-6 credits

ECO 488: Internship in Economics

An independent research project undertaken in the context of a work environment that provides students with access to data, people, and experience that make possible the study of a particular economic issue. Related readings, a daily journal, and an analytical paper under the supervision of a faculty member are required. Permission must be obtained before the start of the semester in which the student enrolls in ECO 488. May be repeated up to a limit of 12 credits, but only counts as one course toward major requirements.

Prerequisites: C or higher in ECO 303 and 305; permission of supervising faculty member, Career Center Internship Manager, and sponsoring employing agency

SBC:     EXP+

0-6 credits, S/U grading