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Applied Economics (APEC) Courses

Academic Unit: Applied Economics

APEC 1001 - Orientation to Applied Economics
(1 cr; A-F or Audit; offered Every Fall)
Introduction to curriculum offerings, liberal education requirements, employment opportunities, faculty in the Department of Applied Economics. Emphasizes historical development of the discipline, areas of specialization, coursework expectations, career planning.
APEC 1101 - Principles of Microeconomics [SOCS GP]
(4 cr; Student Option; offered Every Fall & Spring)
Equivalent courses: APEC 1101H (inactive), ECON 1104 (inactive), ECON 1165, ECON 1101H (inactive, was ECON 1111 until 05-SEP-00), ECON 1101
Economic behavior of consumers/firms in domestic/international markets. Demand, supply, competition. Efficiency, Invisible Hand. Monopoly, imperfect competition. Externalities, property rights. Economics of public policy in environment/health/safety. Public goods, tax policy.
APEC 1102 - Principles of Macroeconomics
(3 cr; Prereq-1101 or Econ 1101; Student Option; offered Every Spring)
Equivalent courses: ECON 1102H (inactive, was ECON 1112 until 05-SEP-00), ECON 1105 (inactive), ECON 1102, APEC 1102H (inactive, ending 20-JAN-15)
Unemployment/inflation, measures of national income, macro models, fiscal policy/problems. Taxes and the national debt. Money/banking, monetary policy/problems. Poverty and income distribution. International trade and exchange rates. Economic growth/development.
APEC 1201 - Applications of Excel in Economics and Management
(1 cr; Student Option; offered Every Fall & Spring)
This course offers students the opportunity to master the basic and intermediate functionality of Microsoft Excel, and apply those skills to economic and managerial applications such as the financial impact of loans and investments, growth accounting, basic regression analysis, demand and cost estimation, and resource allocation. In addition, this course also emphasizes competencies regarding presenting and discussing quantitative information: interpreting quantitative/graphical data (demonstrating quantitative literacy), determining effective data display with charts, and making adequate choices about the graphical presentation of data. This course will enable students to become proficient in assembling and presenting data using Microsoft Excel.
APEC 1251 - Principles of Accounting
(3 cr; A-F only; offered Every Fall)
Equivalent courses: DBLN 2051, ACCT 2051H (starting 04-SEP-12, was ACCT 2050H until 06-SEP-22), ACCT 2051
Financial accounting. Theory, concepts, principles, procedures. Preparation/understanding of the four financial statements.
APEC 1905 - The Ordinary Business of Life: Issues in Business, Government, and Macroeconomics
(3 cr; Prereq-freshman; A-F only; offered Every Fall)
The world of economics is sometimes referred to as the study of the ordinary business of life. In this course we will discover, reflect on, and teach ourselves about a selected group of topics in the fields of business management and economics. While the first quarter of our meetings will be on business and economic history to provide context (the "Economic Revolution," the Federal Reserve System, and the role of government in the economy), the second quarter of class will analyze macro issues related to the domestic and world economies (economic growth, income inequality, the New Economy, and globalization). The third and fourth quarters of our time together will be micro-related. As part of this class, we will investigate the fields of leadership and business ethics through a series of readings and films. In addition, throughout the term some of our class discussions will be dedicated to helping you make your transition to and navigation of the University a smooth one.
APEC 3001 - Applied Microeconomics: Consumers, Producers, and Markets
(4 cr; Prereq-[[1101 or ECON 1101 or 1101H or ECON 1101H], [MATH 1142 or MATH 1271]] or instr consent; intended for undergrads in [Ag/Food Bus Mgmt, Appl Econ]; Student Option; offered Every Fall & Spring)
Equivalent courses: ECON 3101, ECON 3012, ECON 3101H (inactive, was ECON 3111 until 05-SEP-00), ECON 3105 (inactive, ending 02-SEP-08)
Consumer/producer decisions. Theory of supply/demand. Markets, pricing, investment, effect regulation, market failures.
APEC 3002 - Managerial Economics
(4 cr; Student Option; offered Every Fall & Spring)
Microeconomic theory, its application to managerial problems. Introduction to regression analysis, demand analysis, demand function estimation, forecasting, cost function estimation, resource allocation decisions, linear programming, market structure, pricing policy, risk analysis, investment analysis. prereq - ApEc 3001 or Econ 3101 AND SCO 2550 or Stat 3011
APEC 3003 - Introduction to Applied Econometrics
(4 cr; Prereq-APEC 1101 or equiv., STAT 3011 or equiv.; A-F only; offered Every Fall)
Econometrics is the core empirical methodology used in economics. It allows economists (and others) to learn about the world through data in non-experimental situations. This course teaches student how to use common types of econometric analysis to answer research questions in an experiential learning environment.
APEC 3006 - Applied Macroeconomics: Government and the Economy
(3 cr; Prereq-APEC 1102 or ECON 1102 or instr consent; Student Option; offered Every Fall & Spring)
Equivalent courses: ECON 3102, ECON 3024, ECON 3102H (inactive, was ECON 3112 until 05-SEP-00)
This course covers the core topics in macroeconomics including monetary policy, fiscal policy (including government expenditures and taxation), output, output growth, interest rates, exchange rates, inflation, expectations, GDP accounting, and balance of payments statements. The course modality alternates between in-person and remote, depending on the semester and instructor.
APEC 3007 - Applied Macroeconomics: Policy, Trade, and Development [GP]
(3 cr; Prereq-[1101 or ECON 1101], [1101H or ECON 1101H], [1102 or ECON 1102], [1102H or ECON 1102H]; 3001, 3006 recommended; Student Option; offered Every Fall & Spring)
Indicators of economic development, growth in trade, and welfare of developing countries. Globalization. Drivers of growth, productivity, technical change, and research. Comparative advantage. Distribution consequences of trade. Trade policy instruments/institutions.
APEC 3061 - Economic Development in Contemporary Africa [SOCS GP]
(3 cr; Prereq-1101 or ECON 1101; A-F only; offered Every Spring)
Equivalent courses: AFRO 3433
Major socio-economic challenges that confront post-independence sub-Saharan African countries in quest for sustainable economic development/growth. Causes of persistent poverty/inequality, role of institutions/multinational agencies. Growth in 21st century.
APEC 3071 - Microeconomics of International Development
(3 cr; Prereq-1101, 1102, Econ 1101, 1102, or instr consent; Student Option; offered Every Spring)
Characteristics and performance of peasant agriculture; potential role of agriculture in economic development, and design of economic policies to achieve agricultural and economic development; role of women in agricultural development.
APEC 3081 - Perspectives on Economic and Social Issues Affecting Indigenous Communities [DSJ]
(3 cr; A-F or Audit; offered Every Fall)
Indigenous peoples--in the sense, loosely speaking, of original or early settled populations living in nations now politically and socially dominated by later-arriving populations--can be found in significant numbers in many countries, especially those founded in settler colonialism. They often live in socially, racially, and culturally distinct, not-fully-assimilated communities, sometimes with special legal, political, spatial, cultural, and other status or rights. In those cases, these communities are likely also to face special economic constraints and opportunities, and these in turn often intersect with concepts of race and identity as well as issues of social justice and power. This course will analyze the historical and contemporary factors that have contributed to the special economic circumstances and institutions of Indigenous communities. It will touch on Indigenous community issues worldwide but will focus on the United States and, to some extent, Minnesota. Students will gain an understanding of Indigenous communities' economic resources, such as land, knowledge, health, financial capital, social capital, environmental capital, and political and legal rights. They will examine the special legal and institutional constraints limiting the efficient use of these resources and discuss policy issues related to the development of Indigenous economies. A mixture of economic concepts and theory, data, and case studies will be used throughout the course. In keeping with this course's liberal education objectives, this course asks students to learn and use multiple disciplines to critically and rationally analyze the economic opportunities and challenges facing Indigenous communities and to demonstrate how economic concepts and evidence shed light on related issues of equity and justice. This course draws on literature from history, law, biology, psychology, many subfields of economics (microeconomics, development economics; regional and spatial economics; t
APEC 3202 - An Introduction to the Food System: Analysis, Management and Design
(3 cr; Student Option; offered Every Fall)
Introduction to use of systems thinking for exploration of problems in contemporary food system from multidisciplinary perspective. System concepts. Historical evolution of food system. Analysis, management, design.
APEC 3411 - Commodity Marketing
(3 cr; Prereq-1101 or Econ 1101; Student Option; offered Every Fall)
Equivalent courses: APEC 5411
Economic concepts related to marketing agricultural commodities. Conditions of competitive markets, historical perspectives on market institutions/policy, structural characteristics of markets, policies/regulations affecting agricultural marketing of livestock, crop, and dairy products.
APEC 3451 - Food and Agricultural Sales
(3 cr; Prereq-1101 or Econ 1101; Student Option; offered Every Spring)
Professional selling of agricultural and food products. Students build/refine sales abilities, identify/qualify prospects, deliver sales presentations, close the sale. Principles of market research.
APEC 3480 - Topics in Applied Economics (Topics course)
(1 cr [max 4]; Student Option; offered Every Fall, Spring & Summer; may be repeated for 24 credits; may be repeated 6 times)
Lectures and discussion on applied economics subjects. Topics specified in Class Schedule.
APEC 3501 - Agribusiness Finance
(3 cr; Prereq-[[1251 or Acct 2051], 60 cr] or instr consent; Student Option; offered Every Fall)
Equivalent courses: FINA 3000 (inactive, ending 07-SEP-99), FINA 3001 (starting 20-JAN-15, ending 07-SEP-10), FINA 3001H
Analysis of financing and investment strategies for agribusiness firms and their effects on liquidity, solvency, and profitability. Analysis of financial institutions, markets, and instruments. Management problems, issues facing financial intermediaries serving agriculture.
APEC 3531 - Introduction to Student Research in Applied Economics
(1 cr; A-F only; offered Every Fall)
The course is designed for students participating in the undergraduate research program funded by the USDA NIFA Workforce Development Program. Students will participate in lectures introducing them to research methods in applied economics; participate in an international study tour; present their to research to the Agricultural and Applied Economics Association undergraduate research paper competition; visit various agribusiness and food company visits; participate in campus lab tours; and other activities.
APEC 3551 - Concept Design and Value-Added Entrepreneurship in Food, Agricultural, and Natural Resource Sciences
(3 cr; Prereq-APEC 1101 or APEC 1101H or ECON 1101 or DES 1101W, jr or sr; A-F only; offered Every Fall)
Explore the core skills required by entrepreneurs in opportunity identification and problem framing that lead to creating viable concepts that provide solutions to real consumer challenges. Students will tackle innovation challenges from an in-depth exploration of entrepreneurial and design thinking and learn how to incorporate these skills into their future professional work. Master techniques for exploring problems from a systems viewpoint through a series of hands-on projects from concept design to product mapping and consumer testing. Students get to select a project of their choosing directly from their major of study and will pitch their new product or service concept to an expert panel.
APEC 3611W - Environmental and Natural Resource Economics [ENV WI]
(3 cr; Prereq-1101 or ECON 1101 or 1101H or ECON 1101H; Student Option; offered Every Spring)
Equivalent courses: was APEC 3611 until 17-JAN-12, was APEC 4611 until 07-SEP-04
Concepts of resource use. Financial/economic feasibility. External effects, market failures. Resource use, environmental problems. Measuring impacts of resource development. Economics of alternative resource programs, environmental strategies.
APEC 3811 - Principles of Farm Management
(3 cr; Prereq-1101 or Econ 1101; Student Option; offered Every Fall)
Strategic and operations aspects of farm management; financial analysis, budgeting, strategic management; marketing plan and control; enterprise and whole farm planning and control; investment analysis, quality, risk, and personnel management.
APEC 3841 - Agricultural and Consumer Cooperatives and Mutuals
(3 cr; Student Option; offered Every Fall)
Equivalent courses: was APEC 3840 until 04-SEP-18, APEC 5841 (starting 21-JAN-14, was APEC 5811 until 04-SEP-18)
There are three broad business organizational forms in the world: public benefit, mutual or cooperative benefit, and investor benefit. The topic is motivated by focusing on the mutual or cooperative benefit organization and comparing and contrasting it with the other two business forms. Each class begins with a speaker, usually a producer member or manager, from a cooperative or mutual including coffee, cocoa, dairy, food, credit union, and other types of consumer and agricultural cooperatives. Students will choose a cooperative or mutual at the beginning of the semester, and most homework assignments will be applied to your cooperative including a final digital media project. The course has one live lecture and one asynchronous lecture each week. Credit will not be granted if credit has been received for: APEC 5841
APEC 3993 - Directed Study in Applied Economics
(1 cr [max 4]; Student Option; offered Every Fall, Spring & Summer; may be repeated for 6 credits; may be repeated 6 times)
A course in which a student designs and carries out a directed study on selected topics or problems under the direction of a faculty member; eg, literature review. Directed study courses may be taken for variable credit and special permission is needed for enrollment. Students enrolling in a directed study will be required to use the University-wide online directed study contract process in order to enroll. No more than 6 credits of directed study counts towards CFANS major requirements.
APEC 3994 - Directed Research in Applied Economics
(1 cr [max 4]; Student Option; offered Periodic Fall, Spring & Summer; may be repeated for 6 credits; may be repeated 6 times)
An opportunity in which a student designs and carries out a directed research project under the direction of a faculty member. Directed research may be taken for variable credit and special permission is needed for enrollment. Students enrolling in a directed research will be required to use the University-wide online directed research contract process in order to enroll. No more than 6 credits of directed research counts towards CFANS major requirements.
APEC 4103 - World Food Problems [IP C/PE]
(3 cr; Student Option; offered Every Fall)
Equivalent courses: was AGRO 4103 until 05-SEP-17, was FSCN 4103 until 21-JAN-03, was AGRO 4103 until 21-JAN-03, was FSCN 4103 until 03-SEP-02, was AGRO 4103 until 03-SEP-02, was FSCN 4103 until 22-JAN-02, was AGRO 4103 until 22-JAN-02, was FSCN 4103 until 07-SEP-99, CVM 6060 (inactive), FSCN 4103 (inactive), AGRO 4103 (inactive, was APEC 4103 until 21-JAN-03, was FSCN 4103 until 21-JAN-03, was APEC 4103 until 03-SEP-02, was FSCN 4103 until 03-SEP-02, was APEC 4103 until 22-JAN-02, was FSCN 4103 until 22-JAN-02, was APEC 4103 until 07-SEP-99, was FSCN 4103 until 07-SEP-99), GCC 5017, GCC 3017
A multidisciplinary look at problems and possible solutions in food production, storage, and utilization in developing countries. Presentations and discussions introduce conflicting views of population, use of technology, and ethical and cultural values of people in various parts of the world.
APEC 4451W - Food Marketing Economics [WI CIV]
(3 cr; Prereq-[[1101 or Econ 1101], [1101H or Econ 1101H], SCO 2550 or STAT 3011 or equiv, 60 cr] or instr consent; Student Option; offered Every Fall)
Equivalent courses: was FSCN 4451 until 04-SEP-01, was APEC 4451 until 16-JAN-01, was FSCN 4451 until 07-SEP-99, APEC 5451
Economics of food marketing in the United States. Food consumption trends, consumer food behavior, marketing strategies, consumer survey methodology, food distribution/retailing system. Policy issues related to food marketing. Individual/group projects.
APEC 4461 - Horticultural Marketing
(3 cr; Prereq-ApEc 1101 or 1101H or Econ 1101 or 1101H; A-F only; offered Every Spring)
Equivalent courses: HORT 4461
Major areas in horticultural marketing. Difference between horticultural products and commercial commodities. Core marketing components that should be used by every small horticultural business. Approaches to consumer research.
APEC 4481 - Futures and Options Markets
(3 cr; Prereq-[[3001 or Econ 3101], [AnSc 3011 or SCO 2550 or Stat 3011],] or instr consent; Student Option; offered Every Spring)
Equivalent courses: APEC 5481
Economics of futures/options trading in theory/application. Basis/price relationship in storable/nonstorable commodities. Hedging/commercial use of futures/options contracts. Speculation. Pricing efficiency. Market performances/regulation.
APEC 4821W - Business Economics and Strategy [WI]
(3 cr; Prereq-APEC 3002 or APEC 3003; Student Option; offered Every Spring)
Equivalent courses: was APEC 4821 until 05-SEP-00, APEC 5821
Strategic management for production, processing, wholesaling, retailing, and service. Strategy formulation, implementation, and control. Business plans. Case study analysis.
APEC 5031 - Methods of Economic Data Analysis
(3 cr; Prereq-APEC 3001, Math 1142 or Math 1272, Stat 3001 or Sco 2550 or grad student or instructor consent ; Student Option; offered Every Fall)
The course introduces linear statistical economic (econometric) models with and without independent errors. It also introduces econometric models for analyzing discrete response variables, censored response variables, and non-random data samples. It shows how these econometric models can be used to evaluate and quantify theoretical relationships and forecast counterfactual economic outcomes.
APEC 5032 - Economic Data Analysis for Managerial and Policy Decisions
(3 cr; Prereq-5031 or instr consent; Student Option; offered Every Spring)
The course covers statistical and econometric methods for the analysis of data to support managerial and policy decisions. It includes methods for organizing, accessing, and ensuring the quality of data. The econometric methods covered by the course are applicable to panel, discrete response, duration, and time series data.
APEC 5151 - Applied Microeconomics: Firm and Household
(3 cr; Prereq-(APEC 3001, Math 1142 or Math 1272, and Stat 3011 or Sco 2550) or equiv or grad student or instr consent; Student Option; offered Every Fall)
The course provides a mathematical treatment of cost -benefit analysis in terms of the theory of how prices, income, preferences, and other factors affect consumer choices and the demand for goods and services. It also includes treats the theory of how prices, technology, and other important factors affect producer decisions, the supply of goods and services, and the demand for productive resources. This demand and supply analysis is then combined to explore the theory of price determination in competitive and noncompetitive markets. The optimization theories and economic models are developed without and with uncertainty.
APEC 5321 - Regional Economic Analysis
(3 cr; Prereq-3006 or ECON 3102 or instr consent; Student Option; offered Every Spring)
Development patterns. Role of resources, transportation, and institutional constraints. Migration, investments in growth and change. Economic information in investment and location decisions. Economic development policies and tools. Economic impact analysis.
APEC 5411 - Commodity Marketing
(3 cr; Prereq-graduate student and 1101 or Econ 1101 ; Student Option; offered Every Fall)
Equivalent courses: APEC 3411 (starting 08-SEP-15)
Economic concepts related to marketing agricultural commodities. Conditions of competitive markets, historical perspectives on market institutions/policy, structural characteristics of markets, policies/regulations affecting agricultural marketing of livestock, crop, and dairy products.
APEC 5451 - Food Marketing Economics
(3 cr; A-F or Audit; offered Every Fall)
Equivalent courses: was APEC 5551 until 02-SEP-03, APEC 4451W (starting 16-JAN-01, was FSCN 4451 until 04-SEP-01, was APEC 4451 until 16-JAN-01, was FSCN 4451 until 07-SEP-99)
Economics of food marketing in the United States. Food consumption trends. Consumer food behavior, expenditure, data collection. Consumer utility models, demand forecasting. Food distribution system. Changes in supply chain, industry structure that serves retail food outlets. Individual/group projects.
APEC 5481 - Futures and Options Markets
(3 cr; Student Option; offered Every Spring)
Equivalent courses: APEC 4481 (starting 04-SEP-01)
Economic concepts related to futures/options trading. Hedging, speculation.
APEC 5511 - Labor Economics
(3 cr; Prereq-[[3001 or Econ 3101 or PA 5021], [PA 5032 or equiv]] or instr consent; Student Option; offered Periodic Fall)
Theoretical foundations of labor markets. Intertemporal/household labor supply. Demand for labor, efficiency wages. Human capital theory, unemployment, migration decisions. Analysis of econometric research applied to labor policy issues such as minimum wage, tax policy, social insurance, education.
APEC 5711 - Agricultural and Environmental Policy
(3 cr; Prereq-3001 or Econ 3101; Student Option; offered Periodic Spring)
This is a topics course which changes from year to year. This year we will consider the relationship between famines and armed conflict. The general supposition (conventional wisdom) is that famines are the result of the forces of nature ? floods, droughts, and earthquakes. In fact, the evidence supports the argument that famines result from the actions of man to do harm to others. We will consider a variety of cases including the Irish Famine of the 19th Century, the hunger after the conclusion of World War II, and the Bengal Famine of 1948.
APEC 5721 - Economics of Science and Technology Policy
(3 cr; Prereq-APEC 3001 or ECON 3101 or instr consent; Student Option; offered Every Fall)
This course covers the economic effects of science and technology policies, such as intellectual property rights. The course considers the effects of policies on: (1) the economic growth and development levels of countries; (2) the international technology transfers that occur between countries through trade, foreign direct investment, and licensing arrangements; and (3) differences in the economic welfare of developed and developing countries.
APEC 5731 - Economic Growth and International Development
(3 cr; Prereq-3002 or [Econ 3101, Stat 3022]; Econ 4211 recommended; Student Option; offered Periodic Spring)
Economics of research and development. Technical change, productivity growth. Impact of technology on institutions. Science and technology policy.
APEC 5821 - Business Economics and Strategy
(3 cr; Prereq-graduate student and APEC 3001 or equivalent or instructor consent; Student Option; offered Every Spring)
Equivalent courses: APEC 4821W (starting 19-JAN-16, was APEC 4821 until 05-SEP-00)
Strategic management for production, processing, wholesaling, retailing, and service. Strategy formulation, implementation, and control. Business plans. Case study analysis.
APEC 5831 - Food and Agribusiness Marketplace
(2 cr [max 3]; Prereq-graduate student; A-F or Audit; offered Every Spring; may be repeated for 3 credits)
This is a graduate student survey course of the industrial organization and current policy issues in the food and agribusiness marketplace. It represents a collaboration between the College of Food, Agricultural, and Natural Resource Sciences and the Carlson School of Management. The course uses short readings and speakers. A comprehensive look at all of the sectors in the food and agribusiness value chain is described. Topics include food policies (Farm Bills, food stamps, food labeling, and similar topics); environmental policies (water, invasive species, agriculture production and similar topics); and industrial organization issues (marketing and production contracts, overview of firm strategic orientation, distribution and similar topics). Readings, guest speakers, and presentations are used.
APEC 5832 - The Business of Food Systems
(1 cr; Student Option; offered Every Fall)
This is a graduate survey course to introduce students to the Minnesota food industry through its regulatory process, research and development, and industry structure. It is an integrated week long course that includes field study tours of Minnesota agriculture and food economy coupled with classroom instruction. Each year the course will focus on two Minnesota industries such as dairy, beef, soybean, corn, potatoes, and other agricultural and food industries. The course has been developed through a collaboration with College of Veterinary Medicine, School of Public Health, and College of Food, Agricultural, and Natural Resource Sciences.
APEC 5841 - Agricultural and Consumer Cooperatives and Mutuals
(3 cr; Student Option; offered Every Fall)
Equivalent courses: was APEC 5811 until 04-SEP-18, APEC 3841
There are three broad business organizational forms in the world: public benefit, mutual or cooperative benefit, and investor benefit. The topic is motivated by focusing on the mutual or cooperative benefit organization and comparing and contrasting it with the other two business forms. Each class begins with a speaker, usually a producer member or manager, from a cooperative or mutual including coffee, cocoa, dairy, food, credit union, and other types of consumer and agricultural cooperatives. Students will choose a cooperative or mutual at the beginning of the semester and most homework assignments will be applied to your cooperative including a final digital media project. The course has one live lecture and one asynchronous lecture each week. Credit will not be granted if credit has been received for: APEC 3841
APEC 5990 - Special Topics in Applied Economics (Topics course)
(1 cr [max 4]; Student Option; offered Every Fall & Spring; may be repeated for 12 credits; may be repeated 3 times)
Special topics courses - focus on areas not covered in regularly offered courses. prereqs: graduate student or instructor consent
APEC 5991 - Independent Study in Applied Economics
(1 cr [max 4]; Prereq-instr consent; Student Option; offered Every Fall, Spring & Summer; may be repeated for 32 credits; may be repeated 8 times)
Independent study and supervised reading/research on subjects/problems not covered in regularly offered courses.
APEC 8001 - Applied Microeconomic Analysis of Consumer Choice and Consumer Demand
(2 cr; Prereq-[[5151 or ECON 3101 or ECON 5151 or intermediate microeconomic theory], [[MATH 2243, MATH 2263] or equiv]] or instr consent; A-F or Audit; offered Every Fall)
The course provides a rigorous mathematical treatment of cost-benefit analysis in terms of the theory of how prices, income, preferences, and other factors affect consumer choices and the demand for goods and services. The optimization theories and economic models are developed with and without uncertainty. Part of four-course, year-long sequence (APEC 8001-2-3-4)
APEC 8002 - Applied Microeconomic Analysis of Production and Choice Under Uncertainty
(2 cr; Prereq-[[8001 or ECON 8001 or ECON 8101], [[MATH 2243, MATH 2263] or equiv]] or instr consent; A-F or Audit; offered Every Fall)
The course provides a rigorous mathematical treatment of cost-benefit analysis in terms of the theory of how prices, technology, and other important factors affect producer decisions, the supply of goods and services, and the demand for productive resources. The optimization theories and economic models are developed with and without uncertainty. The course also explores the theory of price determination in competitive, monopoly, and monopsony markets. Part of four-course, year-long sequence (APEC 8001-2-3-4)
APEC 8003 - Applied Microeconomic Analysis of Game Theory and Information
(2 cr; Prereq-[[8002 or ECON 8002 or ECON 8102], [[MATH 2243, MATH 2263] or equiv]] or instr consent; A-F or Audit; offered Every Spring)
The course provides a rigorous mathematical treatment of cost-benefit analysis in terms of the theory of how strategic interactions between consumers and producers (game theory) and information affect prices, resource allocation, and welfare. The optimization theories and economic models are developed in the contexts of both market and nonmarket goods and services. Part of four-course, year-long sequence (APEC 8001-2-3-4).
APEC 8004 - Applied Microeconomic Analysis of Social Choice and Welfare
(2 cr; Prereq-[[8003 or ECON 8003 or ECON 8103], [[MATH 2243, MATH 2263] or equiv]] or instr consent; A-F or Audit; offered Every Spring)
The course provides a rigorous mathematical treatment of cost-benefit analysis in terms of the theory of how prices of goods and services are determined in competitive markets, and the implications of these prices on social welfare. It shows what happens to the prices of goods and services and social welfare when competitive markets fail. Part of four-course, year-long sequence (APEC 8001-2-3-4).
APEC 8202 - Mathematical Optimization in Applied Economics
(3 cr; Prereq-[5151, Econ 5151] or equiv or instr consent; Student Option; offered Every Fall)
Economic foundations and applications of mathematical and dynamic programming and optimal control. Mathematical optimization concepts; structures and economic interpretations of various models of the firm, consumer, household, sector, and economy. Model building and solution techniques.
APEC 8203 - Applied Welfare Economics and Public Policy
(3 cr; Prereq-calculus, intermediate econ theory; Student Option; offered Every Spring)
Basic concepts underlying measurement of welfare change, problems of market failure and externalities, social welfare functions, and distribution within and across generations. Application of concepts, based on case studies of the environment, returns to research, technical change, and agricultural policy.
APEC 8206 - Dynamic Optimization: Applications in Economics and Management
(3 cr; Prereq-5151 or equiv or instr consent; Student Option; offered Every Spring)
Formulation and solution of dynamic optimization problems using optimal control theory and dynamic programming. Analytical and numerical solution methods to solve deterministic and stochastic problems for various economic applications.
APEC 8211 - Econometric Analysis I
(2 cr; Prereq-ApEc 5031 or equiv OR Ph.D. student OR instr consent; Student Option; offered Every Fall)
Equivalent courses: was APEC 8201 until 05-SEP-00
The course introduces the foundations for statistical economic (econometric) models, linear econometric models, and inference with linear econometric models when observations are independent and the sample size is large. it shows how linear models can be used to evaluate and quantify theoretical relationships and forecast counterfactual economic outcomes. Part of four-course, year-long sequence (APEC 8211-2-3-4).
APEC 8212 - Econometric Analysis II
(2 cr; Prereq-8211 or equiv or instr consent; Student Option; offered Every Fall)
The course introduces the foundations for statistical economic (econometric) models, linear econometric models, and inference with linear econometric models when observations are dependent because individual units are sampled over regular time intervals (panel data) as well as for other reasons. It shows how these linear models can be used to evaluate and quantify theoretical relationships and forecast counterfactual economic outcomes. Part of four-course, year-long sequence (APEC 8211-2-3-4).
APEC 8213 - Econometric Analysis III
(2 cr; Prereq-ApEc 5031 or equiv OR Ph.D. student OR instr consent; Student Option; offered Every Spring)
The course introduces econometric techniques and models for analyzing economic data for discrete response variables, censored response variables, and non-random data samples. It show show these nonlinear models can be used to evaluate and quantify theoretical relationships and forecast counterfactual economic outcomes. Part of four-course, year-long sequence (APEC 8211-2-3-4).
APEC 8214 - Econometric Analysis IV
(2 cr; Prereq-ApEc 5031 or equiv OR Ph.D. student OR instr consent; A-F or Audit; offered Every Spring)
The course introduces econometric techniques and models used to identify the assumptions required for causal inference as well as tests for these assumptions when they are available. It shows how these techniques and models can be used to evaluate and quantify causal economic relationships and forecast counterfactual economic outcomes. Part of four-course, year-long sequence (APEC 8211-2-3-4).
APEC 8221 - Programming for Econometrics
(2 cr; Prereq-APEC 5031 or equivalent ; Student Option; offered Fall Even Year)
Applications of computer programming in econometrics. Introduction to and best practices in programming, including writing functions, organizing and commenting code, vectorization and other performance tips. Programmatic acquisition of novel economic datasets through Application Programming Interfaces (APIs), web scraping, and databases. Efficient cleaning and merging of datasets. Finally, a survey of common computational challenges in econometric estimation and potential solutions.
APEC 8222 - Big Data Methods in Economics
(2 cr; Prereq-APEC 5031 or equivalent; APEC 8221 or equivalent programming experience. ; Student Option; offered Fall Even Year)
Challenges, techniques, and opportunities presented by data that has one or more of the following characteristics: large, unstructured, high frequency, variable quality. The course will consist of three parts: 1) computational tools for applying standard econometric techniques on large datasets, 2) extracting summary information from unstructured data (e.g. images, text) for use in econometric analysis, 3) application of statistical learning techniques (e.g. classifiers, regression trees, machine learning) and the role of such techniques in causal inference.
APEC 8223 - Impact Evaluation: Theory and Methods
(2 cr; A-F or Audit; offered Spring Odd Year)
This course provides a thorough review of many different econometric methods used to estimate (evaluate) the impact of programs on outcomes of interest. The methods include randomized controlled trials (RCTs), difference in differences, matching methods, regression discontinuity, instrumental variables, control function methods, and quantile treatment effects. Prerequisites: Students should have completed Apec 8214 or an equivalent course.
APEC 8333 - FTE: Master's
(1 cr; Prereq-Master's student, adviser and DGS consent; No Grade Associated; offered Every Fall, Spring & Summer; 6 academic progress units; 6 financial aid progress units)
(No description)
APEC 8341 - Applied Public Finance
(3 cr; Prereq-8001-8004 or ECON 8001-8004 or ECON 8101-8104; A-F or Audit; offered Periodic Spring)
Current economic research on government tax and expenditure policy. Apply tools of applied economics to public finance issues. Tax policy, taxation and household decisions (including labor supply and saving), taxation and the firm (including the cost of capital), and fundamental tax reform. Alternative demand models for public goods, public choice theory, and fiscal federalism.
APEC 8401 - Agricultural Markets and Policy
(2 cr; Prereq-APEC 8001 & 8002 or ECON 8101 & 8102, or concurrent registration ; A-F or Audit; offered Periodic Spring)
Seven-week course. Designed for students pursuing the field of food and agricultural economics to acquire a foundational understanding of markets for food and farm commodities and skills to conduct analyses of market supply and demand and efforts of policy changes.
APEC 8402 - Information and Behavioral Economics
(2 cr; Prereq-APEC 8001 - 8004 or ECON 8101 - 8104, APEC 8401, APEC 8211-8212; A-F or Audit; offered Spring Even Year)
This course examines new theories of consumer behavior that combines economists' and psychologists' modeling of human behavior. Questions about whether human behavior is consistent with standard economic models will be posed and alternative explanatory models will be offered by incorporating psychological phenomena. The influence of information on consumer choice over time and under uncertainty will also be studied from a theoretical and empirical perspective. Topics include expected and unexpected utility theory, bounded rationality, prospect theory, choice over time, and rational addiction with applications to empirical work.
APEC 8403 - Applied Consumer Theory
(3 cr; A-F only; offered Spring Odd Year)
The objective of this course is to provide students with the theoretical and methodological foundations to perform analyses of demand and competition in food and agricultural markets. Some of the specific topics include specification and estimation of demand systems such as welfare analysis, analysis of competition, market power and public policy (e.g., a tax policy) in both homogeneous and differentiated product markets, analysis of cost pass-through, and merger analysis. prereqs: APEC 8001 - 8004 or ECON 8001 - 8004 or ECON 8101 - 8104, APEC 8211, APEC 8212, or instructor consent.
APEC 8404 - Applied Production Theory
(3 cr; Prereq-APEC 8001 and 8002 or equiv or instr consent; A-F or Audit; offered Spring Odd Year)
Equivalent courses: was APEC 8801 until 20-MAY-19
Aspects of production theory. Axiomatic representations of multi-output technologies. Input, output, and directional distance functions. Cost, revenue, and profit functions and duality. Input/output separability. Jointness/non-jointness in production. Index numbers, measures of efficiency/productivity.
APEC 8444 - FTE: Doctoral
(1 cr; Prereq-Doctoral student, adviser and DGS consent; No Grade Associated; offered Every Fall, Spring & Summer; 6 academic progress units; 6 financial aid progress units)
(No description)
APEC 8501 - Labor Economics I
(2 cr; Prereq-8003 or equiv or concurrent registration is required (or allowed) in 8003, 8211, 5032 or equiv; A-F or Audit; offered Periodic Fall)
Theoretical and empirical studies of compensating differentials, discrimination, personnel economics, and gross flows.
APEC 8502 - Labor Economics II
(2 cr; A-F or Audit; offered Periodic Fall)
Topics in applied microeconomics related to labor supply and human capital. Household decisions and resulting outcomes in labor market. Household labor supply. Estimation of labor supply and earnings functions. Theory of human capital, wage structure and determination, and impacts of tax and transfer policies.
APEC 8601 - Natural Resource Economics
(3 cr; Prereq-[5151, 8202, 8206 [ECON 5151 or equiv]] or instr consent; Student Option; offered Periodic Fall & Spring)
Economic analysis of resource use and management. Capital theory, dynamic resource allocation. Applications to renewable and nonrenewable resources. Empirical studies, policy issues.
APEC 8602 - Economics of the Environment
(3 cr; Prereq-8004 or ECON 8004 or ECON 8104 or equiv or instr consent; Student Option; offered Every Fall)
Economic analysis of environmental management, emphasizing environmental policy. Application of microeconomic theory to problems of market failure, market-based pollution control policies, contingent valuation, hedonic models, option value, and other topics.
APEC 8666 - Doctoral Pre-Thesis Credits
(1 cr [max 6]; Prereq-Doctoral student who has not passed prelim oral; no required consent for 1st/2nd registrations, up to 12 combined cr; dept consent for 3rd/4th registrations, up to 24 combined cr; doctoral student admitted before summer 2007 may register up to four times, up to 60 combined cr; No Grade Associated; offered Every Fall, Spring & Summer; may be repeated for 12 credits; may be repeated 2 times)
Doctoral Pre-Thesis Credits
APEC 8701 - Trade and Development I
(2 cr; Student Option; offered Fall Odd Year)
This course will analyze international trade and economic policies that affect trade. The course will consider the determinants of trade, the welfare effects of trade, and the implications of trade liberalization or protectionism. The course will use contemporary economic theory and econometric methods of analysis; and will provide an economic foundation for analyzing issues on the frontier of the academic literature and policy debate.
APEC 8702 - Trade and Development II
(2 cr; Prereq-First-year PhD level microeconomics and econometrics; Student Option; offered Every Fall)
This course will focus on the applied microeonomics of international development. The course will focus on empirically testing the various theories developed to account for persistent economic underdevelopment and poverty. We will start from key ideas and methods in empirical development economics, then cover household models (both unitary and otherwise), intrahousehold models, market formation and market participation, land markets, technology adoption, risk and insurance, and other topics related to development microeconomics, all from an empirical perspective. :
APEC 8703 - Trade and Development III
(2 cr; Student Option; offered Periodic Spring; may be repeated for 3 credits)
Topics in the microeconomic analysis of development covered include: education (both the determinants of educational outcomes and the impact of those outcomes on several economic outcomes), poverty, inequality, demography (population, fertility and gender issues), and the impact of international aid.
APEC 8704 - Trade and Development IV
(2 cr; Student Option; offered Every Spring)
This course will focus on the applied microeconomics of international development. It will empirically analyze various market failures in developing countries, their role in driving persistent poverty, and interventions to address them. The course will focus specifically on the functioning of financial, labor, and healthcare markets, as well as the influence of social networks and economic decisions and outcomes.
APEC 8777 - Thesis Credits: Master's
(1 cr [max 18]; Prereq-Max 18 cr per semester or summer; 10 cr total required [Plan A only]; No Grade Associated; offered Every Fall, Spring & Summer; may be repeated for 50 credits; may be repeated 10 times)
(No description)
APEC 8793 - Master's Paper: Plan B Project
(1 cr [max 6]; Prereq-Agri/ApEc MS student or ApEc MS student; S-N or Audit; offered Every Fall, Spring & Summer; may be repeated for 6 credits)
Students work under guidance of adviser to complete their Plan B Paper project.
APEC 8803 - Marketing Economics
(3 cr; Prereq-[Econ 8001, Econ 8002] or [Econ 8101, Econ 8102] or instr consent; A-F or Audit; offered Periodic Fall & Spring)
Review of market structure, conduct, and performance. Market interdependency over space/time. Product forms. Issues pertaining to market failures/interventions.
APEC 8804 - Managerial Economics
(3 cr; Prereq-[8001, 8002, 8003, 8004] or [Econ 8101, Econ 8102, Econ 8103, Econ 8104] or instr consent; majors must register on A-F basis.; Student Option; offered Periodic Fall & Spring)
Analysis of managerial decisions by organizations/individual entrepreneurs. Application of dynamic programming to investment/resource allocation decisions. Economics of business organization, including boundaries of the firm, mechanisms for vertical coordination. Economic implications of alternative ownership structures.
APEC 8888 - Thesis Credit: Doctoral (independent study)
(1 cr [max 24]; Prereq-ApEc PhD student; max 18 cr per semester or summer; 24 cr required; No Grade Associated; offered Every Fall, Spring & Summer; may be repeated for 100 credits; may be repeated 10 times)
Doctoral thesis credit.
APEC 8901 - Graduate Seminar: MS & PhD
(1 cr; S-N or Audit; offered Every Fall)
Attendance and active participation in applied economics research seminars. Effective research methods. Research topics and observe professional methods of research presentations.
APEC 8902 - Graduate Research Development Seminar
(1 cr; Prereq-ApEc MS student or ApEc PhD student; S-N or Audit; offered Every Fall & Spring)
Faculty, students, outside speakers present research ideas/results, which participants critique. Topics vary according to interests of speakers.
APEC 8903 - PhD Qualifying Paper Seminar I
(1 cr; Prereq-8001-8004 or Econ 8001-8004 or Econ 8101-8104; S-N only; offered Every Fall)
Support for writing second year Qualifying Paper. Purpose of paper is to provide guided opportunity for doctoral students to complete substantial research paper.
APEC 8904 - PhD Qualifying Paper Seminar II
(1 cr; Prereq-APEC 8903; S-N only; offered Every Spring)
Provides support to doctoral students writing second year Qualifying Paper. Purpose of paper is to provide guided opportunity for students to complete substantial research paper.
APEC 8990 - Special Topics in Applied Economics (Topics course)
(1 cr [max 4]; Student Option; offered Every Fall & Spring; may be repeated for 12 credits; may be repeated 3 times)
Special topics courses - focus on areas not covered in regularly offered courses. prereqs: graduate student or instructor consent
APEC 8991 - Independent Study in Applied Economics
(1 cr [max 4]; Prereq-instr consent; Student Option; offered Every Fall, Spring & Summer; may be repeated for 24 credits; may be repeated 6 times)
Independent study and supervised reading/research on subjects/problems not covered in regularly offered courses.

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