Courses, Plan of Study, & Advising

Registration Schedule

Students who began the program in fall 2012, the registration schedule is as follows (Please note--courses have been renumbered):

Term I 2012 (Aug. 27 – Nov. 23)
ECON 641: Microeconomic Analysis (formerly 506)
ECON 643: Empirical Analysis I (formerly 521)

Term II 2012-13 (Nov. 26 – Feb 22)
ECON 642: Topics in Applied Macroeconomics (formerly 507)
ECON 644: Empirical Analysis II (formerly 522)

Term III 2013 (Feb. 25 – May 24)
ECON 645: Empirical Analysis III (formerly 523)
ECON 671: Economics of Health Care (formerly 565)

Term IV 2013 (May 27 – Aug. 23)
ECON 672: Program Analysis and Evaluation (formerly 554)
ECON 673: Information, Game Theory & Market Design

Term I 2013 (Sept. 2 – Nov. 22)
ECON 674: Economic Analysis of Law
ECON 675: Environmental Economics

Students who began the program in spring 2013, the registration schedule is as follows (Please note--courses have been renumbered):

Term III 2013 (Feb. 25 – May 24)
ECON 641: Microeconomic Analysis (formerly 506)
ECON 643: Empirical Analysis I (formerly 521)

Term IV 2013 (May 27 – Aug. 23)
ECON 642: Topics in Applied Macroeconomics (formerly 507)
ECON 644: Empirical Analysis II (formerly 522)

Term I 2013 (Sept. 2 – Nov. 22)
ECON 645: Empirical Analysis III (formerly 523)
ECON 671: Economics of Health Care (formerly 565)

Term II 2013-14 (Nov. 25 – Feb 21)
ECON 672: Program Analysis and Evaluation (formerly 554)
ECON 673: Information, Game Theory & Market Design

Term III 2014 (Feb. 24 – May 23)
ECON 674: Economic Analysis of Law
ECON 675: Environmental Economics

Program Overview

Seminar-style, face-to-face instruction is offered evenings and weekends in Washington, DC. Online interaction, exercises, and feedback are designed to maintain student engagement between class meetings. Upon completion of the program, students should:

Understand how to collect, evaluate, understand and analyze economic data.
Understand and interpret statistical results and apply empirical evidence to economic arguments.
Articulate and apply standard macroeconomic theories and models to policy discussion.
Articulate and apply standard microeconomic theories and models to policy discussion.
Interpret and communicate economic models to a wider audience.
Measure and evaluate the effectiveness of policy programs using sound econometric techniques.

Master of Professional Studies: Plan of Study

The Master of Professional Studies in Applied Economics provides working professionals with rigorous training in economic reasoning, formulating and estimating economic models and forecasting, and utilizing quantitative methods to evaluate policy proposals and programs. The 30-credit degree program emphasizes empirical skills, particularly data analysis and interpretation, with respect to economic and public policy applications. Focusing on the application of modern economic tools to the analysis of public policy questions, the program emphasizes the role of econometric analysis and economic policy analysis with a particular focus on real-world examples, data manipulation and management and modeling. The program provides students with advanced training in economics that prepares them for policy positions in the public and private sectors. The policy-oriented curriculum focuses on all aspects of econometric modeling (including data collection, management and analysis) and incorporates instruction using STATA or another software package.

For a detailed plan of study, click here.

Graduate Certificate in Professional Studies:Plan of Study

The Graduate Certificate in Professional Studies in Economic Analysis provides working professional with the opportunity to enhance their quantitative and analytical skills and deepen their understanding of economic analysis. The 15-credit, 5 course, graduate certificate focuses on the role of econometric analysis in policy with particular focus on empirical skills, particularly data collection, manipulation and management, as they apply to economic analysis.

For a detailed plan of study, click here.

Courses

ECON 641: Microeconomic Analysis (3 credits)
This course contains a detailed treatment of the behavior of the consumer and the firm. Topics include externalities, game theory, imperfect competition, asymmetric information, and monopolistic and oligopolistic markets. (formerly ECON 506)

ECON 642: Topics in Applied Macroeconomics (3 credits)
This course presents a selected set of macroeconomic topics including models of economic growth, economic fluctuations, monetary policy, inflation and financial markets. The course also presents a study of aggregate economic activity and macroeconomic forecasting techniques. (formerly ECON507)

ECON 673: Information, Game Theory and Market Design (3 credits)
The course focuses on strategic decision-making and the theory and practice of market design. Topics include experimental economics, spectrum auctions, labor markets, electricity markets and environmental auctions.

ECON 643: Empirical Analysis I Foundations of Empirical Research (3 credits)
This course covers fundamental aspects of data collection, management and interpretation emphasizing sampling, descriptive statistics, index numbers, and construction of aggregated variables. (formerly ECON521)

ECON 644: Empirical Analysis II: Introduction to Economic Models (3 credits)
This course explains basic statistical topics such as probability and sampling, distribution theory, survey methodology, and hypothesis testing. Emphasis is on estimating economic models using single variable and multiple variable regression techniques. (formerly ECON 522)

ECON 645: Empirical Analysis III: Econometric Modeling and Forecasting (3 credits)
This course examines empirical techniques that are particularly valuable in the analysis of economic data. Topics include panel data, optimization, limited dependent variables, time series and two stage least squares. This course will emphasize hands-on practical experience using the STATA statistical software. (formerly ECON523)

ECON 672: Program Analysis and Evaluation (3 credits)
This course examines various methods of program evaluation including randomized and nonrandomized (retrospective) evaluations. The focus is on evaluation design and implementation, including needs assessment, process evaluation and cost benefit analysis. The course includes a study of measurement and outcomes, sample size determinations and hypothesis testing. (formerly ECON 554)

ECON 674: Economic Analysis of Law (3 credits)
This course applies microeconomic theory to the analysis of legal rules and institutions. Topics include property rights, externalities, contract theory, bargain theory, remedies, industrial organization, patents, damages and antitrust.

ECON 671: Economics of Health Care (3 credits)
This course is an examination of the structure, conduct and performance of the health care market including physician services, the pharmaceutical industry, the hospital market and health insurance using quantitative and analytic economic tools. Special emphasis is on regulatory response to market imperfections. (formerly ECON565)

ECON 675: Environmental Economics (3 credits)
The course develops a framework for an economic assessment of environmental problems and policy design with respect to market failures and the valuation of environmental resources. Focus is on policy issues, economic incentives and instruments and valuation of nonmarket goods.

Advising

Each student is urged to consult with the program academic advisor, Marianne Hayek via e-mail: mhayek@umd.edu