2006-2007 UAF Catalog


Course descriptions index


Economics

Admittance to 300- and 400-level School of Management courses will be granted only to students with upper-division standing. Others will be admitted only with the written permission of the appropriate department head. Students enrolling in School of Management courses are expected to have completed the necessary prerequisites for each course. A $25 per semester student computing facility user fee will be assessed for any student enrolling in one or more School of Management courses except ECON 100X (AIS, ACCT, BA and ECON). This fee is in addition to any lab/materials fees.

ECON 100X  3 Credits
Political Economy (s)
(Cross-listed with PS 100X)
Survey of the evolution and operation of the American domestic political economy with consideration of market failures and government responses. Review of major issues in political economy such as inflation, poverty and budget deficits. Exploration of linkages between American and global systems. Also available via Independent Learning. (3 + 0) Offered Fall, Spring


ECON 111  3 Credits
Economics of Rural Alaska
Basic economic concepts as they relate to issues and problems of contemporary regional development in rural Alaska. Socioeconomic consequences of the introduction of new technologies, modern economic intra-structures and corporate relationships to traditional, small scale communities. (3 + 0) Offered As Demand Warrants


ECON 200  4 Credits
Principles of Economics (s)
Goals, incentives and outcomes of economic behavior with applications and illustrations from current issues: operation of markets for goods, services and factors of production; the behavior of firms and industries in different types of competition; and income distribution. The functioning and current problems of the aggregate economy, determination and analysis of aspects of international exchange. Also available via Independent Learning. (Prerequisite: MATH 161X or MATH 107X. Sophomore standing or permission of instructor.) (4 + 0 + 1) Offered Fall, Spring


ECON 201  3 Credits
Principles of Economics I: Microeconomics (s)
Price and market theory, income distribution, contemporary problems of labor, agriculture, market structure and pollution. (3 + 0) Offered Fall, Spring


ECON 202  3 Credits
Principles of Economics II: Macroeconomics (s)
Analysis and theory of national income, money and banking and stabilization policy. (3 + 0) Offered Fall, Spring


ECON 227  3 Credits
Intermediate Statistics for Economics and Business
Extension of topics developed in STAT 200. Development of statistical techniques and their application to economic and business problems. Simple and multiple regression and correlation, analysis of variance, forecasting techniques, quality control, nonparametric methods and decision theory. (Prerequisite: AIS 101 or equivalent; STAT 200; or permission of instructor.) (3 + 0) Offered Fall, Spring


ECON 235  3 Credits
Introduction to Natural Resource Economics (s)
Microeconomic principles and their application to natural resource issues. Topics include supply, demand, marginality, optimality, elementary production economics, economic rent and comparative advantage. These principles applied to agency budget allocation decisions, multiple use, resource valuation, conservation, market failure and public outdoor recreation problems. (3 + 0) Offered Fall


ECON 237  3 Credits
The Alaskan Economy (s)
Economic problems in Alaska with analysis of historical trends and current patterns of economic growth; emphasis on present and future alternative economic policies and their potential impacts. Also available via Independent Learning. (3 + 0) Offered Spring


ECON 321  3 Credits
Intermediate Microeconomics (s)
Analysis of demand and supply under various market forms, cost and theory of production, factor pricing and theory of distribution, and survey of welfare economics. (Prerequisites: ECON 200 and MATH 262X or equivalent, upper-division standing.) (3 + 0) Offered Fall


ECON 322  3 Credits
Managerial Economics
Interpretation of economic data and applications of economic theory in business firms. Bridging the gap between theory and practice through empirical studies, cases and decision problems. Emphasis upon decision-making using analysis of research data. (Prerequisites: ECON 200 and MATH 262X or equivalent, upper-division standing.) (3 + 0) Offered Spring


ECON 324  3 Credits
Intermediate Macroeconomics (s)
Concepts and measurement of income, analysis of aggregate demand and supply and their relation to the level of prices, employment and economic growth. (Prerequisites: ECON 200 and upper-division standing.) (3 + 0) Offered Spring


ECON 335O  3 Credits
Intermediate Natural Resource Economics (s)
Extension of concepts developed in ECON 235, using a higher level of economic analysis. Topics include welfare economics and economic efficiency concepts, benefit/cost analysis, resource allocation overtime, resource taxation, common property problems, externalities, public goods, valuation of non-market resources and land use planning issues. (Prerequisite: ECON 200 or 235; COMM 131X or 141X; MATH 262X or equivalent; and upper-division standing.) (3 + 0) Offered Spring


ECON 350  3 Credits
Money and Banking (s)
The liquid wealth system in the United States, including the commercial banking system, the Federal Reserve System and nonbank financial institutions; the regulation of money and credit and its impact on macroeconomic policy objectives. Also available via Independent Learning. (Prerequisite: ECON 200 and upper-division standing.) (3 + 0) Offered Fall


ECON 351  3 Credits
Public Finance (s)
Economic justifications for government; federal, state and local government, taxation, spending and debt; their effects on allocation, distribution, stabilization and growth. (Prerequisite: ECON 200 and upper-division standing. Next offered: 2007-08.) (3 + 0) Offered Alternate Fall


ECON 409W  3 Credits
Industrial Organization and Public Policy (s)
The relationship of market structure to the economic conduct and performance of firms and industries, the determinants, measurement and classification of market structure, public policy toward mergers, industrial concentration and aggregate concentration. (Prerequisites: ECON 200; ENGL 111X; ENGL 211X or ENGL 213X or permission of instructor; MATH 262X or equivalent; and upper-division standing. Next offered: 2007-08.) (3 + 0) Offered Alternate Fall


ECON 420W  3 Credits
Labor Markets and Public Policy (s)
Application of labor market analysis and wage theory as they relate to public policy issues. Topics include determination of wages, taxation and employment, economic impact of unions, economics of discrimination and issues relating to women's and minorities' changing roles in the labor market. (Prerequisite: ECON 200; ENGL 111X; ENGL 211X or ENGL 213X or permission of instructor; and upper-division standing. Next offered: 2007-08.) (3 + 0) Offered Alternate Fall


ECON 434W  3 Credits
Environmental Economics
An extension of concepts introduced in ECON 235, using a higher level of economic analysis. An analysis of the economic forces involved in environmental degradation, preservation and regulation. Topics include pollution, biodiversity, wilderness and climatic change. (Prerequisite: ECON 200 or 235; ENGL 111X; ENGL 211X or ENGL 213X or permission of instructor; MATH 262X or equivalent; and upper-division standing. Next offered: 2006-07.) (3 + 0) Offered Alternate Spring


ECON 435W  3 Credits
Forest Resource Economics (s)
Forest resource economics. Analysis of the benefits and costs from forest activities. Considers multiple use and sustained yield goals of the U.S. Forest Service. Topics include present value of timber and non-timber outputs, forest taxation, forest valuation and regional economic impacts. (Prerequisite: ECON 200 or 235; ENGL 111X; ENGL 211X or ENGL 213X; MATH 262X or equivalent; or permission of instructor.) (3 + 0) Offered As Demand Warrants


ECON 437W  3 Credits
Regional Economic Development
Determinants and effects of the spatial distribution of economic activity. Impact of public policy on regional development within the Alaska context. (Prerequisite: ECON 200; ENGL 111X; ENGL 211X or ENGL 213X or permission of instructor; MATH 262X or equivalent; and upper-division standing. Next offered: 2006-07.) (3 + 0) Offered Alternate Fall


ECON 439W  3 Credits
Energy Economics (s)
(Stacked with ECON 639)
Market forces and institutions affecting the allocation of energy resources. Special attention to intertemporal allocative decisions and the role that public policy plays in influencing the rate at which energy resources are used over time. (Prerequisite: ECON 200 or ECON 235; ENGL 111X; ENGL 211X or ENGL 213X or permission of instructor; and upper-division standing. Next offered: 2006-07.) (3 + 0) Offered Alternate Spring


ECON 451W  3 Credits
Public Expenditure Analysis
Purposes and economic effects of governmental expenditures, budgeting techniques and their effects on resource allocation. (Prerequisite: ECON 200; ENGL 111X; ENGL 211X or ENGL 213X or permission of instructor; MATH 262X or equivalent; and upper-division standing. Next offered: 2006-07.) (3 + 0) Offered Alternate Spring


ECON 463W  3 Credits
International Economics (s)
Pure theory of international trade: comparative cost, terms of trade and factor movements. International disequilibrium: balance of payments and its impact on national economy, capital movement, economic development through international trade. (Prerequisite: ECON 200; ENGL 111X; ENGL 211X or ENGL 213X or permission of instructor; MATH 262X or equivalent; and upper-division standing.) (3 + 0) Offered Fall


ECON 601  3 Credits
Microeconomic Theory I
Analysis of consumer and producer theory, price determination and welfare economics. (Prerequisites: ECON 321 or equivalent; MATH 200X or equivalent.) (3 + 0) Offered Fall


ECON 602  3 Credits
Economic Modeling
Economic Modeling takes a hands on approach to applied microeconomics and resource modeling. Students are given an opportunity to extend their training in economic theory and econometrics to model real life problems in the areas of renewable and exhaustible resources, non-market valuation and environmental economics. Special emphasis will be given to the use of econometric analyses. (Prerequisites: ECON 601, ECON 626 or equivalent; graduate standing enrollment or permission of instructor.) (3 + 0) Offered Fall


ECON 603  3 Credits
Macroeconomic Theory I
Analysis of the underlying causes of unemployment, economic instability, inflation and economic growth. (Prerequisites: ECON 321 or equivalent; ECON 324 or equivalent; MATH 200X or equivalent.) (3 + 0) Offered Spring


ECON 613  2 Credits
Resilience Internship
(Cross-listed with ANTH 617, BIOL 613, and NRM 613)
Students of the Resilience and Adaptation Program participate in internships to broaden their interdisciplinary training, develop new research tools and build expertise outside their home disciplines. Internships are for eight to ten weeks of full time commitment and take place during the student's first summer in the program. In the autumn students meet to discuss their internship experiences and make public presentations. (Prerequisite: ANTH/BIOL/ECON/NRM 667 and 668 or permission of instructor.) (2 + 0) Offered Spring and Fall


ECON 621  3 Credits
Fundamentals of Economics
Analysis of demand and supply under various market forms, cost and theory of production, factor pricing and theory of distribution and survey of welfare economics. (Prerequisites: ECON 200 or equivalent; MATH 262X or equivalent; and graduate standing.) (3 + 0) Offered Fall


ECON 623  3 Credits
Mathematical Economics
Mathematical techniques including matrix algebra, differential and integral calculus. Particular attention is given to static and comparative statics analysis and dynamic models. (Prerequisites: MATH 200X or equivalent.) (3 + 0) Offered Fall


ECON 626  3 Credits
Econometrics
Introduction to econometric theory. Single equation and multiple equation system estimation, including inference and hypothesis testing and results of assumption violation. (Prerequisites: MATH 200X or equivalent; STAT. 401, ECON 227 or equivalent.) (3 + 0) Offered Spring


ECON 627  3 Credits
Advanced Econometrics
Advanced Econometrics is the second graduate econometrics course in the Ph.D. in Resource Economic program. This course builds upon the theoretical and empirical tools developed in ECON 626. Large sample theory and the Maximum Likelihood estimation theory are covered. Limited dependent variable models widely used in applied microeconometric modeling are developed and extended. Univariate and multivariate time series modeling and forecasting is developed. (Prerequisites: ECON 626 or equivalent. Graduate student enrollment or permission of instructor.) (3 + 0) Offered Fall


ECON 635  3 Credits
Renewable Resource Economics
The theory, methods of analysis and current literature of natural resource economics and policy for fisheries, forests and wildlife. Topics include externalities, property rights, public goods, benefit-cost analysis, amenity values and other non-market resource services and environmental policy. (Prerequisites: ECON 321, ECON 335, or equivalent; MATH 200X or equivalent.) (3 + 0) Offered Fall


ECON 636  3 Credits
Non-Renewable Resource Economics
Exploration of issues relating to the mineral and energy markets. The analysis of energy and mineral use over time, capital investment problems and world market dynamics are explored. Topics include futures markets, present value, energy value and entropy. (Prerequisite: ECON 321, ECON 335 or equivalent; MATH 200 or equivalent.) (3 + 0) Offered Spring


ECON 637  3 Credits
Natural Resource Policy
(Cross-listed with NRM 637)
Resource policy issues development and implementation including forestry, mining, fisheries, oil, wildlife and other topics as demand warrants. Focus on policy issues involved in management of Alaska's resources. (Prerequisite: Graduate standing or permission of instructor. Next offered: 2006-07.) (3 + 0) Offered Alternate Fall


ECON 639  3 Credits
Energy Economics
(Stacked with ECON 439W)
Market forces and institutions affecting the allocation of energy resources. Special attention to intertemporal allocative decisions and the role that public policy plays in influencing the rate at which energy resources are used over time. (Prerequisite: ECON 200 or ECON 235; Next offered: 2006-07.) (3 + 0) Offered Alternate Spring


ECON 647  3 Credits
Regional Sustainability
Cross-listed with ANTH 647, BIOL 647 and NRM 647)
Explores the basic principles that govern resilience and change of ecological and social systems. The principles are applied at the level of populations, communities, regions and the globe. Working within and across each of these scales, students address the processes that influence ecological, cultural and economic sustainability, with an emphasis on Alaska examples. (Prerequisite: Graduate standing in a natural science, social science, humanities or interdisciplinary program at UAF, or permission of instructor.) (3 + 0) Offered Fall


ECON 648  3 Credits
Integrative Modeling of Natural and Social Systems
(Cross-listed with ANTH 648, BIOL 648 and NRM 648)
Provides a modeling approach to structuring knowledge from natural and social scientific disciplines so that relevant aspects of a complex societal problem are considered for the purpose of making management and policy decisions. Designed to help graduate students use models to integrate understanding about interactions among natural and social systems for the purpose of managing biological and human resources. (Prerequisite: STAT 200 or equivalent, graduate standing in a natural science, social science, humanities or interdisciplinary program at UAF or another university, or permission of instructor. The course is designed to fit into the sequence of the Resilience and Adaptation program's core courses. It is open to other graduate students interested in and prepared to conduct interdisciplinary studies relating to regional sustainability. Recommended: ANTH/BIOL/ECON/NRM 647.) (3 + 3) Offered Fall


ECON 649  3 Credits
Adaptive Management
(Cross-listed with ANTH 649, BIOL 649 and NRM 649)
Interdisciplinary exploration of theoretical and practical considerations of adaptive management. Students survey concepts important in understanding societal and professional-level decision-making. Students work as individuals and in small teams to undertake in-depth case studies with relevance to adaptive management problems. Collectively, the class builds a portfolio of cases that are used as the basis of a final overview analysis. (Prerequisite: Graduate standing in a natural science, social science, humanities or interdisciplinary program at UAF or another university, or permission of instructor. The course is designed to fit into the sequence of the Resilience and Adaptation program's core courses. It is open to other graduate students interested in and prepared to conduct interdisciplinary studies relating to regional sustainability. Recommended: ANTH/BIOL/ECON/NRM 667; and ANTH/BIOL/ECON/NRM 647 and 648. In case of enrollment limits, priority will be given to graduate students in the Resilience and Adaptation program in order for them to be able to meet their core requirements.) (3 + 0) Offered Spring


ECON 667  1 Credit
Resilience Seminar I
(Cross-listed with ANTH 667, BIOL 667 and NRM 667)
Provides a forum for new students of the Resilience and Adaptation graduate program to explore issues of interdisciplinary research that are relevant to sustainability. A considerable portion of the seminar is student-directed, with students assuming leadership in planning seminar activities with the instructor. (Prerequisite: Must be enrolled in Resilience and Adaptation graduate program or have permission of instructor. Recommended: ANTH/BIOL/ECON/NRM 647 [taken concurrently].) (2 + 0) Offered Fall


ECON 668  1 Credit
Resilience Seminar II
(Cross-listed with ANTH 668, BIOL 668 and NRM 668)
Provides a forum for new students of the Resilience and Adaptation graduate program to explore issues of interdisciplinary research that are relevant to sustainability. The seminar provides support to each student planning his/her summer internship and preparing and presenting a thesis research prospectus. (Prerequisites: ANTH/BIOL/ECON/NRM 667; and ANTH/BIOL/ECON/NRM 647 or permission of instructor.) (2 + 0) Offered Spring


ECON 670  1 Credit
Seminar in Research Methodology
Philosophy of research and importance of the scientific method to solution of research problems. (Prerequisite: Graduate standing.) (1 + 0) Offered Spring


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