Undergraduate Courses
General Course Information
The following listing includes all currently offered economics courses. In addition to a brief description of course content, the listing provides information about the prerequisites for each course and about how frequently it is normally offered. The information here is up-to-date and conforms to what is in UMass Boston's 2005-2006 Undergraduate Catalog.
A detailed schedule of economics courses for each term is available -- both in the overall schedule book distributed by the University, and on a separate handout prepared by the department -- during the pre-registration week that comes near the end of the preceding term.
The department also maintains a file with copies of the syllabi for each course offered during the past few years. If more than one instructor taught sections of the same course during any given term, then the syllabi of both instructors are included in the file. To see the syllabus for any course that you are interested in, visit the Economics Department office.
Course Descriptions
Econ 100 Introduction to Economic Issues
Prerequisite: None
Normally Offered: Every Term
An introductory economics course with no prerequisites, designed particularly for students who do not plan to major in economics. Emphasis is placed on learning to read, collect and analyze data; exposure to some of the major controversies in economics; and learning how economists think about economic issues. Topics covered will vary with instructor. Declared majors cannot take this course for credit. Students may receive credit for Econ 100 or Econ G110, but not for both.
Econ 101 Introduction to Microeconomics
Prerequisite: Math 115, Math Q114 or equivalent
Normally Offered: Every Term
A broad introductory survey in which special attention is given to the role of economic principles in analyzing and understanding current economic problems. Emphasis is placed on the functioning of markets and on examining the behavior of individual economic units such as the business firm and the consumer (microeconomics). Other areas of emphasis will vary from section to section; these may include industrial organization, income distribution, international trade, economics of the environment, or other topics.
Econ 102 Introduction to Macroeconomics
Prerequisite: Math 115, Math Q114 or equivalent
Normally Offered: Every Term
A broad introductory survey in which special attention is given to the role of economic principles in analyzing and understanding current economic problems. Emphasis is placed on examining the overall functioning of the economy and on dealing with such matters as unemployment, inflation, and recession. Other areas of emphasis will vary from section to section; these may include economics of government spending and taxation, economic development, alternative economic systems, or other topics.
Econ G110 Economic Ideas
Prerequisite: None
Normally Offered: Every Term
A freshman seminar course that introduces students to fundamental economic concepts used by economists and other social scientists to analyze social problems. Controversies in modern economics, such as income distribution and the role of markets in allocating resources are addressed, although topics vary with the instructor. Declared majors cannot take this course for credit. Students may receive credit for Econ G110 or Econ 100, but not for both.
Econ 201 Microeconomic Theory
Prerequisite: Econ 101 & Math 129 or 130 (or placement into Math 135/140)
Normally Offered: Every Term
Analysis of consumer and firm behavior, and of the determination of prices and quantities in both product and factor markets. Equilibrium of the household, the firm, and the industry. Implications of alternative market structures. A theoretically oriented course that builds on the less rigorous foundation provided in introductory economics courses.
Econ 202 Macroeconomic Theory
Prerequisite: Econ 101 & 102 + Math 129 or 130 (or placement into Math 135/140)
Normally Offered: Every Term
An investigation of the forces determining national output, employment, and inflation. Particular attention is paid to those government policies which attempt to affect the overall level of economic activity in the U.S. A theoretically oriented course that builds on the less rigorous foundation provided in introductory economics courses.
Econ 205 Statistical Methods
Prerequisite: Econ 101 & 102 + Math 129 or 130 (or placement to Math 135/140)
Normally Offered: Every Term
A non-calculus introduction to statistical inference aimed at familiarizing students with common statistical concepts so they will be able to make intelligent evaluations of technical reports. Topics covered include descriptive statistics; probability, including the normal distribution; hypothesis testing, including t-tests; analysis of variance; regression and correlation.
Econ 208 History of Economic Thought
Prerequisite: Econ 101 and Econ 102
Normally Offered: Every Year
A discussion of the rise and development of systematic economic thought. Both orthodox and heterodox economic ideas are studied in light of the social and historical context in which they developed. The course covers the origins of mercantilist thought, the physiocrats, classical political economy through Marx, neoclassical economics, the German historical school, the marginalist school, and institutional economics.
Econ 210 Introduction to Marxist Analysis
Prerequisite: None
Normally Offered: Every Year
An introduction to Marxist economic analysis, giving students an initial exposure to the basic concepts and methods of Marxist economics. Several themes and concepts will run through the course; these include the processes of alienation and exploitation, the operation of contradictions and the role of dialectics, and the role of the state in capitalist societies.
Econ G212 Economics of the Metropolitan Area
Prerequisite: Engl 101, Engl 102, 1 G100 course and Econ 101
An intermediate seminar (part of general education requirement) focused on the economic reasons for the development and existence of metropolitan areas.
Econ 215 The Political Economy of New England
Prerequisite: Econ 101 and Econ 102
Normally Offered: From Time to Time
An examination of the historical origins, present nature, and outstanding problems of our regional economy, with particular emphasis on Massachusetts. Covered topics may include: historical trends in New England's economic structure; causes and consequences of business investment and location; workers and jobs; the political economy of taxes and government spending; state and regional economic policy making; and alternative strategies for economic development.
Econ 270 Special Topics
Prerequisite: Varies; will be posted each time course is offered
Normally Offered: From Time to Time
This course provides an opportunity, at the 200-level, for the department to offer one-time-only courses on special topics of current interest to faculty members and students. It also is sometimes used as a way of offering proposed new courses on a trial basis before they are officially approved as part of the economics curriculum.
Econ 318 The Economics of State and Local Governments
Prerequisite: Econ 101 and Econ 102
Normally Offered: Every Year
An examination of the role that state and local governments play in financing and implementing the delivery of public goods and services. The levels and history of state and local expenditures and revenues, economic theories of the role of government, the relationship between the federal government and state and local governments, and the specific taxes used to finance state and local government activities are examined, with special attention paid to the current fiscal situation of the states, especially Massachusetts.
Econ 325 American Economic History
Prerequisite: Econ 101 and Econ 102
Normally Offered: Every Year
The economic history of the United States, beginning with the colonial period and the economic basis of the Revolutionary War. Subsequent topics include: the industrial revolution in the U.S., the economic basis for slavery and the Civil War, the broad-scale conflict between capital and labor during and after WWI, the weakness of the U.S. economy during the 1920s, and the Great Depression of the 1930s.
Econ 331 Money and Financial Institutions
Prerequisite: Econ 101 and Econ 102
Normally Offered: Every Term
An economic analysis of the U.S. financial system, including examination of the major types of financial assets, financial markets, and financial institutions, as well as the major factors that determine asset prices and the structure of interest rates. Attention will be paid to the nature and operation of banking firms and the structure and regulation of the banking industry. Other topics may include: the Federal Reserve and monetary policy; the determination of the money supply; recent trends in the banking industry; lending discrimination and community reinvestment; and current public policy issues in the areas of banking and finance.
Econ 334 International Trade
Prerequisite: Econ 101 and Econ 102
Normally Offered: Every Year
An examination of alternative theories of international trade, including traditional neoclassical free trade approaches and newer theories addressing imperfect competition, economies of scale, national competitiveness issues and managed trade. Topics also include the economic analysis of trade policies and trade imbalances: quotas, tariffs, GATT, free trade areas, NAFTA, trade problems and policies in economically developed and developing countries.
Econ 335 International Finance
Prerequisite: Econ 101 and Econ 102
Normally Offered: Every Year
An examination of the theory of international finance, balance of payments and foreign exchange markets, open economy macroeconomic policy with capital mobility and exchange rate flexibility, international monetary regimes, and international monetary reform.
Econ 336 Economic Development
Prerequisite: Econ 101 and Econ 102
Normally Offered: Every Other Year
Topics include: the economic meaning of underdevelopment, the role played by different kinds of resources, evaluation of alternative "strategies" for economic growth and development, and interaction of the problems of the underdeveloped countries of Africa, Asia, and Latin America with the policies of the U.S. and other developed countries.
Econ 338 The Latin American Economy
Prerequisite: Econ 100 or Econ 101 or Econ 102
Normally Offered: Every Other Year
Description and analysis of the economic characteristics and problems of Latin American countries.
Econ 343 The Political Economy of Black America
Prerequisite: Econ 100 or Econ 101
Normally Offered: Every Year
A survey of the economic status of Black Americans. Examination of the social and economic legacy of slavery and reconstruction. Analysis of particular problem areas for contemporary Blacks, such as housing, labor market discrimination, and unequal education. Evaluation of community economic development, Black capitalism and other strategies for Black economic advancement.
Econ 345 Natural Resources and Sustainable Development
Prerequisite: Econ 100 or Econ 101
Normally Offered: Every Year
An introduction to sustainable growth and economic development. Topics include the techniques and problems associated with managing natural resources from national and global perspectives; problems of environmental degradation, economic growth, and extinction of species; sustainable development; and environmental ethics as they apply to business and economics
Econ 349 Economic Approaches to Environmental Problems
Prerequisite: Econ 100 or Econ 101
Normally Offered: Every Year
An introduction to the economist's approach to solving environmental problems. Examines applicable economic theories and then uses these theories to develop a framework for analyzing a wide range of environmental issues. Topics include benefit/cost analysis; measurement of environmental damages; resource depletion; and current government approaches to solving air, water, and solid waste pollution problems.
Econ 372 Comparative Economic Systems
Prerequisite: Econ 101 and Econ 102
Normally Offered: Every Summer
An examination of alternative systems of economic organization. Analysis of the failed command economies of the former Soviet Bloc and discussion of the progress and prospects for reform in Russia, Poland and Hungary. Special attention will be paid to comparing alternative capitalist systems (U.S., Sweden, Germany, Japan and South Korea). Issues of concern include market and non-market mechanisms of allocation and distribution, workers' control, economic democracy, centralization and decentralization, and the relation of economic affairs to political and social affairs.
Econ 380 Health Economics
Prerequisite: Econ 100 or Econ 101
Normally Offered: Every Year
An analysis of how health care markets function with specific reference to the American health care system. Topics include the economic, social, and demographic factors determining the demand for health care services, the production and supply of various kinds of health care services, the financing of health care services and alternative systems of health care delivery and financing.
Econ 385 Economics of Education
Prerequisite: Econ 101 or Econ 102
Normally Offered: Every Year
This course deals with a variety of questions about the role of education in the economy and about economic aspects of the educational system. First, attention is given to the historical development of U.S. public education and to different theories trying to explain that development. Students examine such issues as: does education make people more productive? If so, how? Does education affect people's behavior in ways that make them "fit" better or worse in the large enterprises of the economy? Whose interests are served by the structure of our educational system? How does the educational system affect economic, social and political equality? Much of the course will be devoted to particular controversies, for example, the issue of school choice, merit pay for teachers, the equalizing or disequalizing impacts of schooling, the importance of education in making the U.S. "more competitive".
Econ 390 Labor Market Economics
Prerequisite: Econ 101 and Econ 102
Normally Offered: Every Year
An analysis of labor as an economic resource. Topics include the demand and supply of labor; wage determination and the structure of labor markets; income distribution, discrimination and inequality; unemployment and contingent work; labor as a macroeconomic variable, and public policies affecting the labor market.
Econ 391 Unions and Collective Bargaining
Prerequisite: Econ 10, Econ 102 recommended
Normally Offered: Every Year
An analysis of work and the institutions of workers. The course surveys labor history, labor unions, labor laws, organizing, collective bargaining, strikes,
international competition, and how globalization is affecting work and worker’s ability to organize and improve their working conditions.
Econ 392 Women's Economic Roles
Prerequisite: Econ 100 or Econ 101
Normally Offered: Every Other Year
Women's labor - unpaid and paid - is a crucial, yet often overlooked or undercounted component of economic activity in industrial countries. This course presents an historical overview of the economic roles of women in the U.S. and how economic theories explain these roles. The course focuses on why women's economic status has remained subordinate to men's and discusses policies directly affecting women's economic position.
Econ 394 Sex Segregated Labor Markets
Prerequisite: Econ 100 or Econ 101 required; Econ 102 recommended.
Normally Offered: Every Other Year
A study of women's inferior economic status. Review of theoretical and empirical work on topics including women's labor force participation, job segregation, wage differences and discrimination, and considerations of proposals for changes in public policy.
Econ 395 The Economics of Social Welfare
Prerequisite: Econ 100 or Econ 101 or Econ 102
Normally Offered: Every Year
A study of major economic security programs in the United States, such as Social Security and Aid to Families with Dependent Children. The course begins with an examination of historical events leading to the programs of the American welfare system, analyzes the benefit and cost structure of the current system, and assesses the effects of recent attempts to reform that system.
Econ 417 Public Finance
Prerequisite: Econ 102 and Econ 201, and Math 129
Normally Offered: Every Year
An examination of the role of the public sector in the U.S. economy, focusing on public expenditures and tax theory. Topics usually include: welfare economics and justifications for government intervention in the market economy, an explanation of the federal budget, theories of growth in government, benefit/cost analysis, income redistribution theory, tax incidence, and the effect of different forms of taxation on consumption, labor supply, savings, and investment. Fulfills the capstone requirement.
Econ 431 Monetary Theory and Policy
Prerequisite: Econ 202, Econ 331, and Math 129
Normally Offered: Every Other Year
A study of the supply of and demand for money in macroeconomic models, and of current issues in monetary policy.
Econ 432 Industrial Organization
Prerequisite: Econ 201 and Math 129
Normally Offered: From Time to Time
Presentation of a framework for the analysis and evaluation of the performance of American industry and an examinationof a group of American industries to illustrate the usefulness of this framework in explaining the price, output and product policies in those industries. The course also includes an analysis of antitrust activities as a public policy designed to promote better market performance.
Econ 433 Government Regulation of Private Business
Prerequisite: Econ 201 and Math 129
Normally Offered: From Time to Time
Analysis of government policies toward business (including antitrust policy, economic regulation and social regulation)andtheir impact on society. Topics include the causes and consequences of mergers; the analysis of such business practices as resale price maintenance, franchising, bundling and tying arrangements; the regulation of public utilities, communications and transportation; health and safety regulation and patent policy.
Econ 435 The Multinational Corporation
Prerequisite: Econ 334 or Econ 335 or Econ 336, or Econ 338
Normally Offered: Every Other Year
Examination of the patterns, trends, and theories of direct foreign investment, and impacts of multinational corporations nhome and host countries. Topics include effects of MNCs on trade, employment, wages, technology, and economic development. Papers, class presentations, and class discussion required. Fulfills the capstone requirement.
Econ 452 Econometrics (4 credits)
Prerequisite: Econ 201 and Econ 205
Normally Offered: Every Year
This is a course in the techniques of estimating economic models. The uses and pitfalls of empirical estimation in conomics will be examined. In addition to lectures, there will be a weekly two-hour computer lab, where students will apply these methods using econometric software. Fulfills the capstone requirement.
Econ 453 Advanced Macroeconomics
Prerequisite: Econ 202 and Math 129
Normally Offered: From Time to Time
An investigation of the stability and volatility of the U.S. economy, using both theoretical and applied analyses. The course examines several macroeconomic issues: the determinants of economic growth; the sources of instability in "managed-market" economies like the U.S.; the interaction between macroeconomic policy and the international conomy and the scope for systematic stabilization policy.
Econ 476 Internship in Economics (3-6 credits)
Prerequisite: Economics major, 7 economics courses, 80 credits.
Normally Offered: Every Spring term
Carefully supervised field work for one or two days each week in Boston-area institutions that conduct research on conomic issues. Open to a limited number of students each year. Fulfills the capstone requirement. For more details, see page 6 of this Handbook.
Econ 478 Independent Study, Fall Term (1-3 credits)
Prerequisite: Junior standing and permission of a faculty supervisor
Normally Offered: Every Fall Term
Research and reading in any area in economics; the purpose of this course is to allow the student to do advanced work in an area of economics to which he or she has already been exposed, or to investigate an entirely new area. For more etails, see page 6 of this Handbook.
Econ 479 Independent Study, Spring Term (1-3 credits)
Prerequisite: Junior standing and permission of a faculty supervisor
Normally Offered: Every Spring Term
Research and reading in any area in economics; the purpose of this course is to allow the student to do advanced work in an area of economics to which he or she has already been exposed, or to investigate an entirely new area. For more details, see page 6 of this Handbook.Econ 480 Senior Seminar
Econ 480 Senior Seminar
Prerequisite: Economics major, 7 economics courses, 80 credits.
Offered: From Time to Time
A senior seminar conducted by various faculty members, with concentration on their fields of scholarly interest. Fulfills the capstone requirement.
Econ 481 Senior Independent Study
Prerequisite: Economics major, 7 economics courses, 80 credits
Offered: From Time to Time
Research and reading in any area in economics under the direction of an individual faculty member; the purpose of this course is to allow the student to do advanced work in an area of economics and that culminates in the production of a substantial research paper. For more details, see page 6 of this Handbook. Fulfills the capstone requirement.
Econ 489 Senior Honors Project
Prerequisite: Economics major, 7 economics courses, 80 credits, GPA of 3.25 and 3.5 in economics; permission of both a faculty supervisor and the department chairperson is required.
Normally Offered: Every Term
Closely supervised individual research on a topic chosen by a student in consultation with a faculty supervisor. The purpose of
Econ 489 is to enable highly qualified students to undertake the preliminary exploration - reading, thinking, data-gathering - that is necessary for the successful completion of a senior honors thesis during the following term. Completion of a thesis prospectus, and acceptance of this prospectus by the student's proposed thesis supervisor, is a prerequisite for admission to Econ 490. Fulfills the capstone requirement.
Econ 490 Senior Honors Thesis
Prerequisite: Successful completion of the thesis prospectus in Econ 489; permission of both a faculty supervisor and the department chairperson is required. Fulfills the capstone requirement.
Normally Offered: Every Term
Closely supervised individual research resulting in the completion of a senior honors thesis. The topics will be mutually agreed upon by the student and his or her faculty supervisors, on the basis of the thesis prospectus (see Econ 489). At the beginning of the term the department chairperson will, in consultation with the thesis supervisor, appoint a second reader for the thesis, who will be available for consultation during the term. Upon completion of the thesis, and its acceptance by the supervisor and the second reader, the student will present an oral summary of his or her research at a seminar open to all economics students and faculty.
