76 / FIELDS OF INSTRUCTION ECO 6435--Applied Time-Series Analysis and Dynamic Models (4) Prereq: ECO 5424. Applications in accounting, ec- onomics, finance and marketing. ECO 6516-Public Revenue and Distribution (4) Prereq: ECO 6116. Topics include the incidence of taxation, the ex- cess burden of taxation, and the design of optimal tax sys- tem. ECO 6526-Welfare Economics (4) Technical .welfare formulation related to organic concepts of welfare and to political action in a democracy. Possibilities of normative ec- onomics evaluated. ECO 6536-Public Expenditures and Collective Decisions (4) Prereq: ECO 6206, 6116. Topics include the theory of goods and externalities, the evaluation of public expenditures, the nature of collective choice, and voting behavior. ECO 6617-The United States in the World Economy (1783-1970) (4) ECO 6626-The American Economy to 1860 (4) A functional approach. World economic conditions that led to the settle- ment of America; the colonial period; the period of eco- nomic transition; the westward movement and the rise of a national economy; economic causes of the Civil War. ECO 6627-The American Economy Since 1860 (4) The clos- ing of the economic frontier. The development of a capital- istic economy and the trend toward economic and financial imperialism. Economic problems of the wars of 1914-18 and 1939-45, and postwar economic adjustments, domestic and foreign. ECO 6706-Theory of International Trade (4) Historical and economic background of foreign trade; theory of interna- tional trade; fundamentals of international exchange; in- ternational commercial policies and international trade; ex- change fluctuations and their control; international mone- tary institutions. ECO 6717--International Economic Relations (4) Capital formation in the underdeveloped countries, economic inte- gration, balance of payments and international monetary re- form, the economic consequences of population pressures and economic relations between the advanced and other nations. ECO 6910-Supervised Research (1-5; max 5) S/U. ECO 6940-Supervised Teaching (1-5; max 5) S/U. ECO 6971-Research for Master's Thesis (1-15) S/U. ECO 7118-Advanced Microeconomic Theory (4) Prereq: ECO 6117. Axiomatic development of utility functions, stochastic and nonstochastic utility models. Static and dy- namic production functions and investment criteria. General equilibrium and stability conditions. ECO 7128--Economics of Uncertainty (4) Multi-period prob- lems in inventory theory, portfolio analysis, search, and firm behavior. Analysis of market behavior under uncertainty. ECO 7208-Advanced Macroeconomic Theory (4) Prereq: ECO 6207. Topics including wealth effects and money il- lusion, the homogeneity postulate and exceptions to classi- cal doctrine. The role of expectations and stability analysis. ECO 7429-Econometrics and Statistics Seminar (1-4; max: 8) ECp 7938-Advanced Economics Seminar (1-4; max: 8) For advanced graduate students in economics. Prereq: student mist have completed graduate core program and have pre- lirriinary dissertation topic. ECe 7979-Advanced Research (1-9) Research for doctoral students before admission to candidacy. Designed for stu- dents with a master's degree in the field of study or for stu- dents who have been accepted for a doctoral program. Not, open to students who have been admitted to candidacy. S/U. ECO 7980-Research for Doctoral Dissertation (1-15) S/U. ECP 5606-Special Problems in Urban and Regional Eco- nomics (4) Prereq: ECP 5624, 5614. Topical coverage varies among such areas as housing, land use, metropolitan financ- ing, and forecasting. ECP 5614-Urban Economics (4) Prereq: ECO 2013, 2023 and permission of department. Economic analysis of urban- ization and regional interdependence. Applicability of loca- tion theory and other economic analysis. Criteria for de- termining public expenditures and allocating costs in urban areas. ECP 5624-Regional Economics (4) Prereq: ECO 203, 2023 or permission of instructor. Regional economic phenomena and the spatial distribution of economic activities. Analytical tools are developed and applied to urban and regional prob- lems such as growth and decay, housing, land use, and trans- portation. ECP 6207-Labor Demand and Market Equilibrium (4) The derived demand for labor, and other inputs with applica- tions to discrimination and the minimum wage. Topics in la- bor market equilibrium; compensating wage differentials, migration, monopsony, unemployment. ECP 6208-Labor Supply and Household Behavior (4) Labor supply of men and women; household production; marriage and divorce; fertility; the transmission of human and non- human wealth from generation to generation; the demand for education; the determination of earnings. ECP 6405--Industrial Organization and Social Control (4) Economic and other characteristics of modern industrial structures. Relationships between industrial structure, busi- ness conduct, and economic performance. Measurement of concentration and evaluation of performance. Public poli- cies toward monopoly, conspiracy, and competition. ECP 6407-Public Policy and Social Control (3) Designed for MBA candidates. Problems in developing and applying con- cepts of public interest in a market economy. Relationships among industrial structure, business conduct, and economic performance. Measurement of concentration and evaluation of performance. ECP 6426-Economics of Regulated Industries (4) Types and techniques of public control. Economic analysis and eval- uation of regulatory and promotional policies. Adminis- trative and legal aspects of the regulatory process. Special problems in particular industries. ECP 6536-Health Care Economics I (3) Prereq: ECO 6116. Fundamental economic relations governing the production, consumption and financing of health care services. Charac- teristics of demand and production relationships; response of supply, "shortages," and possibilities for factor substitu- tion; insurance and organizational alternatives. ECP 6537-Health Care Economics II (4) Prereq: ECO 6116. Theoretical and empirical evaluations relating to the eco- nomic performance of the health care sector. Optimal price and output policy including distributional considerations; cost-benefit analysis, public production, research and cen- tralized vs. decentralized control. ECP 6615-Urban Economics (4) Prereq: ECO 4205, 4101 or equivalent. Salient aspects of urban phenomena including theoretical explanations of the process of urbanization; city structures and models. Urban problems including poverty and race, housing, transportation and environment. The ur- ban public economy, and urban public services. ECP 6625-Regional Economics (4) Prereq: ECO 4205, 4101 or equivalent. Definition of regions and elements of regional economic analysis. Location theory, regional interdepen- dence and spatial equilibrium. Regional economic change, including economic accounts and other measures of activity; cycles, growth, and planned development. ECP 6705--Economics and Business Decisions (3) Designed primarily for MBA candidates. Synthesis and application of microeconomic theory and related business administration principles to managerial decision making through a problem-solving orientation. ECP 6905-Individual Work in Economics (1-4; max: 8) ECS 6015-Theory of Economic Development (4) Broad analytical, nonhistorical framework for examining economic underdevelopment and possible escape therefrom. Transi- tion to secular economic growth and principles by which an underdeveloped country can achieve development objec- tives. ECS 6025-Economic Development Seminar (4) Theory and problems of economic development pertinent to market and nonmarket economies. Emphasis on the relationship be- tween economic system development and economic growth.