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Graduate Course Proposal Form Submission Detail - ECO6120
Tracking Number - 1875

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Current Status: Approved, Permanent Archive - 2005-11-10
Submission Type:
Course Change Information (for course changes only):

Detail Information

  1. Date & Time Submitted: 2005-02-10
  2. Department: Economics
  3. College: BA
  4. Budget Account Number: 00-1403-00
  5. Contact Person: Michael Loewy
  6. Phone: 46532
  7. Email:
  8. Prefix: ECO
  9. Number: 6120
  10. Full Title: Economic Policy Analysis
  11. Credit Hours: 3
  12. Section Type: C - Class Lecture (Primarily)
  13. Is the course title variable?: N
  14. Is a permit required for registration?: N
  15. Are the credit hours variable?: N
  16. Is this course repeatable?:
  17. If repeatable, how many times?: 0
  18. Abbreviated Title (30 characters maximum): Economic Policy Analysis
  19. Course Online?: -
  20. Percentage Online:
  21. Grading Option: R - Regular
  22. Prerequisites: ECO 3101 or ECO 6114 or CC
  23. Corequisites:
  24. Course Description: Conditions for efficient resource allocation in a market economy; how inefficiency arises in markets and government; ways to reestablish efficiency; social welfare and equity. Introduction to benefit-cost analysis.

  25. Please briefly explain why it is necessary and/or desirable to add this course: This course is a required course in both our MA and PhD programs and is taken during students' first semester in either program. It serves as an introduction to graduate work in economics.
  26. What is the need or demand for this course? (Indicate if this course is part of a required sequence in the major.) What other programs would this course service? Given that the course is required of all of our graduate students, it has a strong demand. This course could and periodically does serve students from a wide variety of programs who wish their students to be familiar with the basic reasoning behind economic policy analysis.
  27. Has this course been offered as Selected Topics/Experimental Topics course? If yes, how many times? Yes. Six times.
  28. What qualifications for training and/or experience are necessary to teach this course? (List minimum qualifications for the instructor.) Instructor must have a PhD in economics.
  29. Objectives: To introduce master's and doctoral students to the theoretical foundations for economic policy analysis.
  30. Learning Outcomes: Upon finishing the course, students should have mastered the fundamental theorems pertaining to efficient resource allocation in a competitive economy. They should understand how these theorems may be violated when the competitive assumptions are not satisfied, as it often the case in the real world, and how efficiency may be reestablished under these conditions. Finally, they should know the theoretical foundations of benefit-cost analysis.
  31. Major Topics: Efficiency and competition in a pure exchange economy. Efficiency and competition in an economy with production. Introduction to market failure and government failure. Public goods. Externalities. Imperfect competition and natural monopoly. Imperfect information. Introduction to public choice theory and government failure. Social welfare and distributional equity. Efficiency aspects of taxation and redistributive policies. Introduction to benefit-cost analysis.
  32. Textbooks: Lee S. Friedman, Microeconomic Policy Analysis (Princeton: Princeton University Press, 2002). Additional readings from books and articles.
  33. Course Readings, Online Resources, and Other Purchases:
  34. Student Expectations/Requirements and Grading Policy:
  35. Assignments, Exams and Tests:
  36. Attendance Policy:
  37. Policy on Make-up Work:
  38. Program This Course Supports:
  39. Course Concurrence Information:

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