300 Level Courses
ECON 306: Intermediate Microeconomics. 3 credits.
Basic factors of price and distribution theory: analysis of demand, costs of production and supply relationships, and price and output determination under various market structures. Offered by
Economics. Limited to three attempts.
ECON 308: Managerial Economics and Strategy. 3 credits.
Analysis of major strategic business situations including pricing strategy, incentives and contracts, game theory, and vertical and horizontal integration. Offered by
Economics. Limited to three attempts.
ECON 309: Economic Problems and Public Policies. 3 credits.
Economic problems in light of current and proposed public policies. Topics include environmental issues, international trade policies, and regulatory issues and their historical roots. Offered by
Economics. Limited to three attempts.
ECON 310: Money and Banking. 3 credits.
Monetary, commercial, and central banking systems, with particular emphasis on their relationship with American government programs, fiscal policies, and controls. Offered by
Economics. Limited to three attempts.
ECON 311: Intermediate Macroeconomics. 3 credits.
Aggregate economic accounts, including measuring national income; determinants of levels of income and output; and causes and solutions for problems of unemployment, inflation, and economic growth. Offered by
Economics. Limited to three attempts.
ECON 321: Economics of Labor. 3 credits.
Defines factors that determine levels of wages and employment, and economic consequences. Emphasizes recent developments in unionism, collective bargaining, and industrial technology. Offered by
Economics. Limited to three attempts.
ECON 330: Public Finance. 3 credits.
Covers intergovernmental financial relationships; types, incidences, and consequences of taxation; other sources of governmental income; governmental expenditures and their effect; public economic enterprises; public borrowing; and debt management and its economic effect. Offered by
Economics. Limited to three attempts.
ECON 335: Environmental Economics. 3 credits.
Microeconomic analysis of environmental problems. Topics include externalities and market failure, alternative solutions and policies, problems in monitoring and enforcement, economic analysis of development of legislation and regulation, and applications to current policy issues. Offered by
Economics. Limited to three attempts.
ECON 340: Introduction to Mathematical Economics. 3 credits.
Mathematical treatment of theory of firm and household behavior, stabilization policy, growth theory, input-output analysis, and linear programming. Offered by
Economics. Limited to three attempts.
ECON 345: Introduction to Econometrics. 3 credits.
Modern statistical techniques in estimating economic relations. Offered by
Economics. Limited to three attempts.
ECON 355: The Political Economy of Nonprofit Institutions. 3 credits.
Applies the basic principles of economics to teach students to think critically about nonprofit institutions. Examines the economics of nonprofit institutions, how incentives influence the evolution of charities, and current issues in nonprofit organizations. Offered by
Economics. Limited to three attempts.
ECON 360: Economics of Developing Areas. 3 credits.
Economic growth characteristic of developing countries. Economic development, obstacles to development, policies, and planning. Offered by
Economics. Limited to three attempts.
ECON 361: Economic Development of Latin America. 3 credits.
Economic development, institutions, and problems of Latin America. Offered by
Economics. Limited to three attempts.
ECON 362: African Economic Development. 3 credits.
Issues of economic development as applied to Africa. Includes overview of early economic history in Africa and post-independence development, and contemporary development problems. Offered by
Economics. Limited to three attempts.
ECON 365: Topics in Economic History. 3 credits.
Possible topics include ancient, medieval, modern European, and American economic history, using econometric analysis as necessary. Notes: May be repeated when topic is different. Offered by
Economics. May be repeated within the term for a maximum 6 credits.
ECON 367: Money, Markets, and Economic Policy. 3 credits.
Applies basic economic concepts and principles to issues facing the U.S. and global economies. Topics include productivity and economic growth, taxes, healthcare, globalization, income distribution and financial crises, with an emphasis on market structure, social institutions and the not-always rational behavior of investors and consumers. Offered by
Economics. Limited to three attempts. Equivalent to
GOVT 367.
ECON 370: Economics of Industrial Organization. 3 credits.
Factors influencing industrial structure, and industrial conduct and performance. Offered by
Economics. Limited to three attempts.
ECON 374: Health Economics. 3 credits.
Microeconomic analysis of health and medicine. Topics include the determinants of health, health externalities, health insurance, the health effects of medicine, the supply and demand of medicine, medical quality and regulation, and information asymmetries. Offered by
Economics. Limited to three attempts.
ECON 380: Economies in Transition. 3 credits.
Examines problems and achievements of formerly communist and socialist countries including China, Eastern European countries, and Russia and other countries of the former Soviet Union as they transition to more market-oriented economies. Includes market economics and central planning. Offered by
Economics. Limited to three attempts.
ECON 385: International Economic Policy. 3 credits.
Introduces economic way of thinking on trade and international finance. Presents historical and current information on consequences of trade and protectionism. Notes: May not be applied toward the elective course requirement needed for a major or minor in economics. Offered by
Economics. Limited to three attempts.
ECON 390: International Economics. 3 credits.
Foreign exchange market, balance of payment, foreign trade policies, and theories of international trade. Offered by
Economics. Limited to three attempts.
ECON 395: Effective Writing in Economics. 3 credits.
Develops students' ability to express economic arguments effectively through writing. Applies the basic principles of economics to teach students to think critically about economic problems. Offered by
Economics. Limited to two attempts.
ECON 398: Internship. 3-6 credits.
Students find economics-related internship with assistance from Career Services. Pre-internship proposal and final reflections paper required. Offered by
Economics. May be repeated within the degree for a maximum 6 credits.
400 Level Courses
ECON 403: Austrian Economics. 3 credits.
Microeconomic and macroeconomic models and misallocation of resources. Alternative economic tools from noted Austrian economists. Offered by
Economics. Limited to three attempts.
ECON 410: Public Choice. 3 credits.
Applies economic theory, methodology to study nonmarket decision making. Offered by
Economics. Limited to three attempts.
ECON 412: Game Theory and Economics of Institutions. 3 credits.
Introduces game theory and its relevance for analyzing framework of rules and institutions within which economic processes occur. Applies game theoretical concepts to comparative analysis of causes and effects of alternative institutional arrangements. Offered by
Economics. Limited to three attempts.
ECON 415: Law and Economics. 3 credits.
Economic analysis of the law. Topics include introduction to legal institutions and legal analysis; application of economic concepts to the law of property, contracts and torts, criminal and constitutional law; economic efficiency of common law; and public choice perspective on the evolution of the law. Offered by
Economics. Limited to three attempts.
ECON 420: International Money and Finance. 3 credits.
Examines models of balance of payments, exchange rate behavior, and open economy macroeconomics. Includes international financial system and issues such as globalization and international financial instability. Offered by
Economics. Limited to three attempts.
ECON 421: Financial Economics. 3 credits.
Provides a survey of financial economics including a brief overview of the U.S. and international financial system and the role of different financial institutions. Covers the leading theoretical models in the field. Offered by
Economics. Limited to three attempts.
ECON 435: Economics of Energy. 3 credits.
Examines various issues in the energy industry using tools from microeconomic theory, law and economics and public choice. Topics include issues related to oil, historical and current energy regulation, and environmental issues associated with energy. Offered by
Economics. Limited to three attempts.
ECON 445: Design and Analysis of Experiments. 3 credits.
Topics include comparing two or more treatments, and computing and interpreting analysis of variance. Discusses randomized block, Latin square, and factorial designs; and applications to economics experiments. Offered by
Economics. Limited to three attempts.
ECON 460: Senior Seminar in Philosophy, Politics, and Economics. 3 credits.
Covers issues in the philosophy, economics, and political science of institutions, information, and collective action. Through case studies of existing legal and political institutions, applies the insights to problems in politics, policy making, social-choice theory, and social, moral, and political philosophy. (Specific content varies). Notes: Serves as the capstone course for the PPE program. Offered by
Economics. Limited to three attempts. Equivalent to
GOVT 469,
PHIL 460.
ECON 470: Economics of Regulation. 3 credits.
Examines various issues surrounding concepts of regulation using tools from microeconomic theory and public choice. Topics include antitrust, rate regulation, policy rationales for regulation, and issues of current interest. Offered by
Economics. Limited to three attempts.
ECON 471: Airline Economics. 3 credits.
Economic theory as it is applied to commercial airlines. Offered by
Economics. Limited to three attempts.
ECON 481: The Development of Economic Thought. 3 credits.
Developments in economic thought from 1500 to the present. Emphasizes historical origins, impact on contemporary economics, and theoretical validity. Offered by
Economics. Limited to three attempts.
ECON 485: Smithian Political Economy I. 3 credits.
Studies the thought of Adam Smith. As the first in a two-course sequence, course focuses on The Theory of Moral Sentiments. Offered by
Economics. Limited to three attempts.
ECON 486: Smithian Political Economy II. 3 credits.
Studies the thought of Adam Smith. As the second in a two-course sequence, course focuses on The Wealth of Nations. Offered by
Economics. Limited to three attempts.
ECON 491: Capstone in Economics. 3 credits.
Project-based course to develop an academic portfolio and demonstrate mastery in economic theory, statistical analysis, and critical thinking in the discipline of economics. Offered by
Economics. Limited to three attempts.
ECON 492: Study Abroad. 1-6 credits.
Study abroad under supervision of George Mason faculty. Course topics, content, and locations vary. Notes: May be repeated with permission of department. Offered by
Economics. May be repeated within the degree for a maximum 12 credits.
ECON 493: Capstone Internship. 3 credits.
Experience learning opportunity as a culminating experience in the major with a focus on applying scholarly research in economics to practical problems in the workplace. Offered by
Economics. Limited to three attempts.
ECON 494: Introduction to Independent Research in Economics. 3 credits.
Develops skills in finding and evaluating sources, oral presentation, and academic writing. Offered by
Economics. Limited to three attempts.
ECON 495: RS: Honors Thesis in Economics. 3-6 credits.
Honors-level research on a self-selected topic in economics culminating in a substantial research paper and an oral presentation. Notes: Requirements for departmental honors in the major are in addition to the coursework required for the major.
ECON 495 credit may not be applied toward the elective course requirement needed for a major or minor in economics. Offered by
Economics. May be repeated within the degree for a maximum 6 credits.
ECON 496: Special Topics in Economics. 3 credits.
Subject matter varies. Notes: May be repeated when topic is different. Offered by
Economics. May be repeated within the term for a maximum 24 credits.
ECON 499: Independent Study. 1-4 credits.
Individual study of selected area of economics. Notes: Directed research paper required. Offered by
Economics. May be repeated within the term for a maximum 9 credits.
600 Level Courses
ECON 611: Microeconomic Theory. 3 credits.
Covers theory of behavior of consumers, firms, and resource suppliers; theories of choice under risk and uncertainty; partial equilibrium analysis of competitive and noncompetitive markets; general equilibrium analysis; and welfare economics. Introduces capital theory. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. Offered by
Economics. May not be repeated for credit.
ECON 612: Microeconomic Theory II. 3 credits.
Nature of the firm; theory of supply; and production functions, factor pricing, and supplies. Introduces microeconomic foundations of theories of public finance and public choice. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. Offered by
Economics. May not be repeated for credit.
ECON 615: Macroeconomic Theory. 3 credits.
Survey course covering monetary theory, theories of consumption and saving, budget deficits, economic growth, international finance, and monetary and fiscal policies. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. Offered by
Economics. May not be repeated for credit.
ECON 623: American Economic History. 3 credits.
Explores development of American economy and evolution of economic institutions. Notes:
ECON 637 recommended. Offered by
Economics. May not be repeated for credit.
ECON 630: Mathematical Economics I. 3 credits.
Topics covered include: constrained maximization, differential calculus, integral calculus, linear algebra, matrix algebra, probability, and set theory. Emphasis is placed on economic applications.
Notes: Non-Degree students are permitted to enroll depending on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. Offered by
Economics. May not be repeated for credit.
ECON 637: Econometrics I. 3 credits.
Techniques of estimating relationships between economic variables. Introduces multiple regression and problems associated with single equation model-autocorrelation, multicollinearity, and heteroscedasticity. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. Offered by
Economics. May not be repeated for credit.
ECON 676: Comparative Economic Systems. 3 credits.
Capitalism, socialism, and corporatism historical perspective. Includes examination of economies of representative contemporary countries. Offered by
Economics. May not be repeated for credit.
ECON 690: MA Economics Capstone. 3 credits.
This is a project-based course where students develop an academic portfolio to demonstrate their mastery in economic theory, statistical analysis, and critical thinking in the discipline of economics. Offered by
Economics. May not be repeated for credit.
ECON 695: Special Topics in Economics. 3 credits.
Topics vary according to interests of instructor. Emphasizes new areas of discipline. Offered by
Economics. May be repeated within the term.
800 Level Courses
ECON 811: Microeconomic Theory I. 3 credits.
Theory and applications of behavior of consumers, firms, and resource suppliers. Partial equilibrium analysis of various market structures and introduction to intertemporal choice and capital theory. Review and analysis of classic works in microeconomic theory. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. Offered by
Economics. May not be repeated for credit.
ECON 812: Microeconomic Theory II. 3 credits.
Examines nature of firm; theory of supply; and production functions, factor pricing, and supplies. Introduces microeconomic foundations of theories of public finance and public choice. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. Offered by
Economics. May not be repeated for credit.
ECON 816: Macroeconomic Theory II. 3 credits.
Aggregate economic activity and price levels with emphasis on dynamic models. Notes: Non-Degree students are permitted to enroll based on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. Offered by
Economics. May not be repeated for credit.
ECON 817: Monetary Theory and Policy. 3 credits.
Theory of mechanisms through which central banking affects economic activity and prices. Analyzes demand for money and its relationship to economic activity. Develops monetary theory with emphasis on current theories and controversies in the field. Offered by
Economics. May not be repeated for credit.
ECON 823: Topics in Economic History. 3 credits.
Offers economic analysis of various historical epochs including Industrial Revolution, evolution of political reform, rise of unions, and growth of government. Offered by
Economics. May not be repeated for credit.
ECON 827: Economic Philosophy. 3 credits.
Analyzes philosophical organization, including interrelations between economics and legal and political institutions; philosophical presuppositions of capitalist economy under constitutional democracy; alternative presuppositions for non-capitalist economies; and critical evaluation of history of ideas in social and moral philosophy. Offered by
Economics. May not be repeated for credit.
ECON 829: Economics of Institutions. 3 credits.
Analyzes framework of rules and institutions for economic activities and transactions. Includes emergence and working properties of different institutions, and classical and contemporary approaches to economic theory of institutions. Offered by
Economics. May not be repeated for credit.
ECON 830: Mathematical Economics I. 3 credits.
Includes algebra and multivariate calculus applied to advanced economic problems. Also covers unconstrained and constrained optimization, formal models of market equilibrium, and models of economic dynamics in continuous and/or discrete time. Notes: Non-degree students are permitted to enroll on space availability determined one week before the first day of classes AND on meeting the prerequisites AND with permission of instructor. Offered by
Economics. May not be repeated for credit.
ECON 831: Mathematical Economics II. 3 credits.
Develops the foundations of choice, price, and general equilibrium theory. Topics include choice, preference and utility; consumer demand; competitive firms; general equilibrium; and social choice and welfare. Special attention is paid to uncertainty and dynamic choice. Offered by
Economics. May not be repeated for credit.
ECON 838: Econometrics II. 3 credits.
Explores econometric models and simultaneous equation systems. Includes identifying parameters and least squares bias, alternative estimation methods, and block recursive systems. Offered by
Economics. May not be repeated for credit.
ECON 840: Law and Economics I. 3 credits.
Uses economics to analyze U.S. Common-law system, evaluating efficiency and logic of evolution. Notes: No prior knowledge of law required. Offered by
Economics. May not be repeated for credit.
ECON 841: Law and Economics II. 3 credits.
Explores empirical analyses of law of property, torts, crime, and family. Also looks at law's effects on freedom and economic growth. Offered by
Economics. May not be repeated for credit.
ECON 843: Smithian Political Economy I. 3 credits.
Explores the moral philosophy of Adam Smith, with a focus on The Theory of Moral Sentiments, which is studied cover-to-cover in "Great Books" fashion. Offered by
Economics. May not be repeated for credit.
ECON 844: Industrial Organization and Public Policy I. 3 credits.
Structure of American industry and underlying determinants. Includes structure and conduct on industrial performance in light of theory and empirical evidence; and rational antitrust policy and analysis of impact on structure and performance. Offered by
Economics. May not be repeated for credit.
ECON 845: Smithian Political Economy II. 3 credits.
Explores the political economy of Adam Smith, with a focus on The Wealth of Nations, which is studied cover-to-cover in "Great Books" fashion. Offered by
Economics. May not be repeated for credit.
ECON 846: Industrial Organization and Public Policy II. 3 credits.
Covers relationship of law, economics, and theories of social control of property rights. Includes theories of market structure and industrial performance. Offered by
Economics. May not be repeated for credit.
ECON 852: Public Choice I. 3 credits.
Applies economic theory and methodology to study of nonmarket decision making. Offered by
Economics. May not be repeated for credit.
ECON 854: Public Choice II. 3 credits.
Applies public choice approach to study such topics as causes and consequences of governmental growth, behavior of public bureaucracies, and economic reasoning behind constitutional limitations on size and growth of government. Offered by
Economics. May not be repeated for credit.
ECON 856: Non-Market Decision Making. 3 credits.
Explores the economics of non-market decision making. Considers the application of rational choice theory to decision making by a variety of persons who are neither traditional buyers nor sellers in a variety of contexts that are not traditional markets. Offered by
Economics. May not be repeated for credit.
ECON 866: Economic Development. 3 credits.
Explores forces contributing to or retarding economic progress in developing countries. Includes role of foreign trade, economic integration, foreign investment, multinational corporations, and technological transfers. Offered by
Economics. May not be repeated for credit.
ECON 871: International Monetary Economics. 3 credits.
Examines international adjustment mechanism, price and income effects, controls, and monetarist approach; development of international monetary system; demand for international reserves; capital movements; and role of International Monetary Fund. Offered by
Economics. May not be repeated for credit.
ECON 880: Theory of the Market Process I. 3 credits.
Examines theory developed by Menger, Mises, Hayek, and others of the Austrian School; and compares with other popular theories. Offered by
Economics. May not be repeated for credit.
ECON 881: Theory of Market Process II. 3 credits.
Continuation of
ECON 880. Explores the market-process approach to analyzing capital accumulation and growth; money and credit institutions; inflation and unemployment; and industrial fluctuations. Offered by
Economics. May not be repeated for credit.
ECON 885: Experimental Economics. 3 credits.
Designed for graduate students to learn how experimental methods can be used to inform economic research and practice. Students expected to have working understanding of basic economic concepts and multivariate calculus. Offered by
Economics. May not be repeated for credit.
ECON 886: Experimental Economics II. 3 credits.
Research in experimental design. Topics represent basic tools to build, test, and implement exchange mechanisms in an applied setting. Offered by
Economics. May not be repeated for credit.
ECON 895: Special Topics in Economics. 3 credits.
Topics vary according to interests of instructor. Emphasizes new areas of discipline. Offered by
Economics. May be repeated within the term.
ECON 896: Directed Reading and Research. 1-9 credits.
Independent reading and research paper on a topic agreed on by student and faculty member. Offered by
Economics. May be repeated within the term.