Master of Science in applied economics
Core Courses - Fall 2017
ADEC 720001 Applied Macroeconomic Theory
Course covers the theory and practice of macroeconomics. The course focuses on the underlying determinants of economic growth, unemployment and inflation by developing and assessing a variety of simple models. The course also teaches the skills needed for interpreting and using macroeconomic data and models to formulate macroeconomic policy. A central feature of the course includes understanding the ability and limitations of macroeconomic policy.
Tues, 6:30–9:00, Aug 29–Dec 12, Fahlino Sjuib
ADEC 720101 Applied Microeconomic Theory
This course examines the basic models economists use to study the choices made by consumers, investors, firms, and government officials, and how these choices affect markets. The course focuses on both policy applications and business strategies. Topics include optimization, consumer choice, firm behavior, market structures, risk and uncertainty, and welfare economics.
Thurs, 6:30–9:00, Aug 31–Dec 14, Sasha Tomic
ADEC 7310 Data Analysis
ADEC 7310 01 Syllabus - Prof Chandra
ADEC 7310 02 - ONLINE - Prof. Fulton
This course is designed to introduce students to the concepts and data-based tools of statistical analysis commonly employed in Applied Economics. In addition to learning the basics of statistical and data analysis, students will learn to use the statistical software package Stata to conduct various empirical analyses. Our focus will be on learning to do statistical analysis, not just on learning statistics. The ultimate goal of this course is to prepare students well for ADEC 7320.01, Econometrics.
ADEC 7310 01 Sat, 9:30 a.m.–12 noon, Sept 2–Dec 16, Piyush Chandra
ADEC 7310 02 ONLINE SECTION Wed, 8:00–10:00 p.m., Aug 30–Oct 22, Lawrence Fulton
MEETS ONLINE AND INCLUDES A WEEKLY SYNCHRONOUS VIRTUAL MEETING ON WEDNESDAYS
FULLY ONLINE COURSE - Once a week Synchronous meeting on Wednesdays; otherwise Asynchronous all other days of the week; students must participate weekly per all instructions and communications from the professor, must adhere to course schedule, and submit all course work on time.
ADEC 7320 Econometrics
Pre-requisites: Intermediate Microeconomic Theory, Intermediate Macroeconomic Theory, and Data Analysis
ADEC 7320 01 Syllabus - Prof. Vicentini
ADEC7 320 02 Syllabus - Prof. Bastian - UPDATED
This course focuses on the application of statistical tools used to estimate economic relationships. The course begins with a discussion of the linear regression model, and examination of common problems encountered when applying this approach, including serial correlation, heteroscedasticity, and multicollinearity. Models with lagged variables are considered, as is estimation with instrumental variables, two-stage least squares, models with limited dependent variables, and basic time-series techniques.
ADEC 7320 01 Mon, 6:30–9:00, Aug 28–Dec 11, Gustavo Vicentini
ADEC 7320 02 ONLINE, Oct 23–Dec 20, Nathaniel Bastian
MEETS ONLINE AND INCLUDES A WEEKLY SYNCHRONOUS VIRTUAL MEETING ON THURSDAYS FULLY ONLINE COURSE - Once a week Synchronous meeting on Thursdays; otherwise Asynchronous all other days of the week; students must participate weekly per all instructions and communications from the professor, must adhere to course schedule, and submit all course work on time.
Elective Courses - FALL 2017
ADEC 743001 Big Data Econometrics
Pre-requisite: ADEC 731001 Data Analysis or department approval.
In this course we will examine how to merge the economics data analysis tools with the most common “big data” tools and methods. We will examine and gain hands-on experience with the terminology, technology and methodology behind the most common big data questions. The course will expose students to the most common analytical methodology used in “big data” analytics, that is, machine learning. We will apply our newly learned skills of supervised and unsupervised learning techniques to solve various problems with a real data set. Policy recommendations will be made to interested parties at the end of the course. No prior experience with R or Python is necessary.
Mon, ONLINE 8:00–10:00 Aug 29–Dec 12, Larry Fulton
MEETS ONLINE AND INCLUDES A WEEKLY
SYNCHRONOUS VIRTUAL MEETING ON MONDAYS.
FULLY ONLINE COURSE - Once a week Synchronous meeting on MONDAYS; otherwise Asynchronous all other days of the week; students must participate weekly per all instructions and communications from the professor, must adhere to course schedule, and submit all course work on time.
ADEC 751001 Law and Economics
The essence of Law and Economics is the study of how markets function. This class will begin with an analysis of the economics of firms and the interrelationship with markets. This will lead to a focus of the course on market regulation as to competition, innovation, pricing and other strategies. In particular, economic analysis germane to Antitrust law will be studied as well as Securities, Intellectual Property, and Environmental Law. The course will also delve into how applied economic thinking is useful from a regulatory perspective for a particular industry or two. Finally, the course will cover aspects of social regulation, including the classic concepts of law and economics pertaining to property rights. Students will learn the thought patterns, concepts and tools that both consulting economists and regulators rely upon. The professor will draw upon his rich career in these fields to structure the class in an active learning format to make the material engaging.
Thurs, 6:30–9:00, Aug 31–Dec 14, Robert O’Haver
ADEC 752001 Transfer Pricing
Transfer pricing involves the valuation of goods, services, and other assets exchanged between affiliated companies. Based on economic principles and governed by the U.S. tax code, international transfer pricing has continued to be a focal point for both multinational companies and tax authorities as a means to evaluate the allocation of income resulting from intercompany transactions conducted across borders. This course will include an introduction to basic tax and transfer pricing concepts, accounting and financial statement analysis, and an application of economic principles underlying transfer pricing analysis. Students will use real case studies and work in groups to consider the economics associated with conducting an international business, and apply transfer pricing methods to develop and support their analysis.
Tues, 6:30–9:00, Aug 29–Dec 12, Harry Sills
ADEC 753001 Measuring Business Cycles, Trends and Growth Cycles
This is a hybrid course, which combines some in-person and some online class meetings. Please refer to the course syllabus in Canvas and on the Woods College website for more detailed information.
This course will focus on the measurement and analysis of business cycles with a special emphasis on business forecasting. Leading indicators are used as forecasting tools to predict when economies move from expansion to recessions and vice versa. Taking an applied empirical approach, we will cover data and tools used for analysis of short term conditions. While business cycle analysis is concerned with short-term fluctuations, understanding the long-term growth path of an economy is important to interpret short-term movements. Applications of trend estimation methods will also be covered. We will study cycles in developing economies which have experienced long periods of continuous growth. Our focus is on important economic indicators and a discussion of data issues such as price indexes, deflation, and seasonal adjustment. How can these indicators be applied and interpreted to understand short term trends in the economy? How can they assist in economic and business decision making?
Sat 9:30 a.m.–12 noon, Sept 2–Dec 16, Ataman Ozyildirim
ADEC 791001 Software Tools for Data Analysis
The course provides students with an overview of popular software packages used today for data exploration, analysis and visualization. The first part of the course will offer an overview of the non-programming tools ? spreadsheet/Excel and Tableau. In Excel we will cover basic method, tools, charts, with the emphasis on pivot tables. In Tableu students will be introduced to data collection, exploration and visualization methods. The second part of the course will provide an intro to using SQL databases, where students will learn how to create SQL queries to select, filter and arrange the data. The third part of the course will cover basic data analysis in statistical software packages Stata and R. Here students will learn how to write their own code for importing, cleaning and exploring large datasets, as well as how to create, modify and export complex charts and summaries for visual, qualitative and quantitative analysis of the data.
Fri, 6:30–9:00, Sep 1–Dec 15, Anatoly Arlashin
ADEC 792001 Market Research and Analysis
Market research is the systematic gathering and interpretation of information and data using the statistical and analytical methods and techniques of the applied economics and statistics to gain insights or support decision making. This course provides you with the skills and tools needed to understand and evaluate market research. Market research and analysis involve developing research questions, collecting data, analyzing it and drawing inference, with a view to making better decisions. To this end, the course is organized into two basic parts: (1) Data collection and research design, and (2) Tools and applications of research and data analysis. The course will provide a framework for conducting research, knowledge to properly design research, techniques and tools to analyze data and infer insights, and practical information sources.
Wed, 6:30–9:00 Aug 30–Dec 13, Ayse Sile
ADEC 888001 Directed Practicum
Department permission required from the Applied Economics Program Director.
Directed Practicum course allows students in the MS in Applied Economics program to apply their coursework in a working environment either via internships for full time students or special projects at their place of employment for part-time students who work full time.