Economics and Business Undergraduate Courses

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Economics and Business Undergraduate Courses

The Division of Economics and Business offers a major, minor, and area of special interest. See Academic Programs section for descriptions of the requirements.

Below is a list and descriptions of all the courses that division offers at the undergraduate level.

EBGN201 Principles of Economics
EBGN301 Intermediate Microeconomics
EBGN302 Intermediate Macroeconomics
EBGN303 Econometrics
EBGN304 Personal Finance
EBGN305 Financial Accounting
EBGN306 Managerial Accounting
EBGN310 Environmental and Resource 
EBGN314 Principles of Management
EBGN315 Business Strategy
EBGN320 Economics and Technology
EBGN321 Engineering Economics
EBGN325 Intro to Ops. Research
EBGN330 Energy Economics
EBGN340 Energy and Environmental Policy
EBGN342 Economic Development
EBGN345 Corporate Finance
EBGN360 Introduction to Entrepreneurship
EBGN361 Business Principles for Entrepreneurs
EBGN398A Investments
EBGN401 Advanced Topics in Economics
EBGN403 Field Session
EBGN404 Advanced Topics in Microeconomics
EBGN405 Advanced Topics in Macroeconomics
EBGN409 Mathematical Economics
EBGN430 Advanced Energy Economics
EBGN437 Regional Economics
EBGN441 International Economics
EBGN443 Public Economics
EBGN452 Nonlinear Programming
EBGN455 Linear Programming
EBGN456 Network Models
EBGN457 Integer Programming
EBGN459 Supply Chain Management
EBGN460 Business Plan Development
EBGN461 Stochastic Models in Management Science

EBGN470 Environmental Economics
EBGN474 Inventing, Patenting and Licensing
EBGN495 Economic Forecasting
EBGNx99 Independent Study

Key:
F: Fall Semester, S: Spring Semester, s: Summer Session, f: Field Session
*:Offered every other year

Freshman Through Senior Year (EBGN course number depends upon current academic level)

EBGNX98: SPECIAL TOPICS IN ECONOMICS AND BUSINESS (FS)-Pilot course or special topics course. Topics chosen from special interests of instructor(s) and student(s). Usually the course is offered only once.
Prerequisite: Instructor consent. Variable credit: 1 to 6 credit hours.

EBGNX99: INDEPENDENT STUDY (FS) -Individual research or special problem projects supervised by a faculty member. A student and instructor agree on a subject matter, content, and credit hours. Prerequisite: "Independent Study" form must be completed and submitted to the Registrar. Independent Study can be taken in your freshman, sophomore, junior or senior year. The EBGN number will vary depending upon your undergraduate status.
Prerequisites: None. Variable credit: 1 to 6 credit hours.

Sophomore Year

EBGN201: PRINCIPLES OF ECONOMICS-(FSs) ) Introduction to microeconomics and macroeconomics. This course focuses on applying the economic way of thinking and basic tools of economic analysis. Economic effects of public policies. Analysis of markets for goods, services and resources. Tools of cost-benefit analysis. Measures of overall economic activity. Determinants of economic growth. Monetary and fiscal policy.
Prerequisites: None. 3 hours lecture; 3 semester hours.
Fall 2017 Syllabus

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EBGN301: INTERMEDIATE MICROECONOMICS-(F,S) This course introduces the theoretical and analytical foundations of microeconomics and applies these models to the decisions and interactions of consumers, producers and governments. Develops and applies models of consumer choice and production with a focus on general equilibrium results for competitive markets. Examines the effects of market power and market failures on prices, allocation of resources and social welfare.
Prerequisites: EBGN201 and MATH213. 3 hours lecture; 3 semester hours.
Fall 2017 Syllabus

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EBGN302: INTERMEDIATE MACROECONOMICS-(F,S) Intermediate macroeconomics provides a foundation for analyzing both short-run and long-run economic performance across countries and over time. The course discusses macroeconomic data analysis (including national income and balance of payments accounting), economic fluctuations and the potentially stabilizing roles of monetary, fiscal and exchange rates policies, the role of expectations and intertemporal considerations, and the determinants of long-run growth. The effects of external and internal shocks (such as oil price shocks, resource booms and busts) are analyzed.
Prerequisites: EBGN201 and MATH213. 3 hours lecture; 3 semester hours.
Fall 2017 Syllabus

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EBGN303. ECONOMETRICS (I) (WI) Introduction to econometrics, including ordinary least-squares and single-equation models; two-stage least-squares and multiple-equation models; specification error, serial correlation, heteroskedasticity, and other problems; distributive-lag models and other extensions, hypothesis testing and forecasting applications.
Prerequisites: EBGN201 and MATH323. 3 hours lecture; 3 semester hours.
Spring 2017 Syllabus

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Junior Year

EBGN304: PERSONAL FINANCE (s) The management of household and personal finances. Overview of financial concepts with special emphasis on their application to issues faced by individuals and households: budget management, taxes, savings, housing and other major acquisitions, borrowing, insurance, investments, meeting retirement goals, and estate planning. Survey of principles and techniques for the management of a household's assets and liabilities. Study of financial institutions and their relationship to households, along with a discussion of financial instruments commonly held by individuals and families.
Prerequisites: None. 3 hours lecture; 3 semester hours.
Summer 2009 Syllabus

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EBGN305: FINANCIAL ACCOUNTING-(FS) Survey and evaluation of balance sheets and income and expense statements, origin and purpose. Evaluation of depreciation, depletion, and reserve methods for tax and internal management purposes. Cash flow analysis in relation to planning and decision-making. Inventory methods and cost controls related to dynamics of production and processing.
Prerequisites: None. 3 hours lecture; 3 semester hours. (Business elective)
Fall 2013 Syllabus

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EBGN306: MANAGERIAL ACCOUNTING-(S) Introduction to cost concepts and principles of management accounting including cost accounting. The course focuses on activities that create value for customers and owners of a company and demonstrates how to generate cost-accounting information to be used in management decision-making. Prerequisite: EBGN305. (Business elective) 3 hours lecture; 3 semester hours.
Spring 2011 Syllabus

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EBGN310: ENVIRONMENTAL AND RESOURCE ECONOMICS (F) Application of microeconomic theory to topics in environmental and resource economics. Topics include analysis of pollution control, benefit/cost analysis in decision-making and the associated problems of measuring benefits and costs, non-renewable resource extraction, measures of resource scarcity, renewable resource management, environmental justice, sustainability, and the analysis of environmental regulations and resource policies.
Prerequisite: EBGN201. 3 hours lecture; 3 semester hours.
Fall 2017 Syllabus

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EBGN315: BUSINESS STRATEGY-(F) An introduction to game theory and industrial organization (IO) principles at a practical and applied level. Topics include economies of scale and scope, the economics of the make-versus-buy decision, market structure and entry, dynamic pricing rivalry, strategic positioning, and the economics of organizational design.
Prerequisite: EBGN201. 3 hours lecture; 3 semester hours.
Spring 2017 Syllabus

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EBGN320: ECONOMICS AND TECHNOLOGY-(S) The theoretical, empirical and policy aspects of the economics of technology and technological change. Topics include the economics of research and development, inventions and patenting, the Internet, e-commerce, and incentives for efficient implementation of technology.
Prerequisites: EBGN 201.  3 hours lecture; 3 semester hours.
Spring 2016 Syllabus

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EBGN321 (CHEN421): ENGINEERING ECONOMICS-(S) Time value of money concepts of present, future and annual worth, rate of return, net present value, ratios and break-even analysis applied to after-tax economic analysis of mineral, petroleum and general investments. Related topics on proper handling of (1) inflation and escalation, (2) leverage (borrowed money), (3) risk adjustment of analyses using expected value concepts, (4) mutually exclusive alternative analyses and service producing alternatives.
Prerequisites: None. 3 hours lecture; 3 semester hours. (Major core course)
Fall 2017 Syllabus

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EBGN325: OPERATIONS RESEARCH-(F)This survey course introduces fundamental operations research techniques in the optimization areas of linear programming, network models (i.e., maximum flow, shortest part, and minimum cost flow), integer programming, and nonlinear programming. Stochastic (probabilistic) topics include queuing theory and simulation. Inventory models are discussed as time permits. The emphasis in this applications course is on problem formulation and obtaining solutions using Excel Software.
Prerequisite: Junior Standing, MATH112. 3 hours lecture; 3 semester hours.
Fall 2017 Syllabus

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EBGN330: ENERGY ECONOMICS-(F) Study of economic theories of optimal resource extraction, market power, market failure, regulation deregulation, technological change and resource scarcity. Economic tools used to analyze OPEC, energy mergers, natural gas price controls and deregulation, electric utility restructuring, energy taxes, environmental impacts of energy use, government R&D programs, and other energy topics.
Prerequisites: EBGN201. 3 hours lecture; 3 semester hours. (Public Policy Elective)
Spring 2017 Syllabus

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EBGN340: ENERGY AND ENVIRONMENTAL POLICY (1) This courswe considers the intersection of energy and environmental policy from an economic perspective. Policy issues addressed include climate change, renewable resources, externalities of energy use, transportation, and economic development and sustainability.
Prerequites: EBGN 201. 3 lecture hours ;3 semester hours.
Spring 2017 Syllabus

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EBGN342: ECONOMIC DEVELOPMENT-(*S) (Formerly EBGN442) Theories of development and underdevelopment. Sectoral development policies and industrialization. The special problems and opportunities created by an extensive mineral endowment, including the Dutch disease and the resource-curse argument. The effect of value-added processing and export diversification on development.
Prerequisite: EBGN201. 3 lecture hours; 3 semester hours. Offered alternate years. (Public Policy Elective)
Spring 2009 Syllabus

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EBGN345: PRINCIPLES OF CORPORATE FINANCE-(S) Introduction to corporate finance, financial management, and financial markets. Time value of money and discounted cash flow valuation. Risk and returns. Interest rates. Bond and stock valuation. Capital budgeting and financing decisions. Introduction to financial This course considers the intersection of energy and environmental policy from an economic perspective. Policy issues addressed include climate change, renewable resources, externalities of energy use, transportation, and economic development and sustainability. engineering and financial risk management, derivatives, and hedging with derivatives.
Prerequisite: EBGN305. 3 hours lecture; 3 semester hours. (Business Elective)
Fall 2016 Syllabus

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EBGN360: INTRODUCTION TO ENTREPRENEURSHIP- Introduction to the entrepreneurial process, focusing on the concepts, practices, and tools of the entrepreneurial world. This will be accomplished through a combination of readings, cases, speakers, and projects designed to convey the unique environment of entrepreneurship and new ventures. The mastery of concepts covered in this course will lead to an initial evaluation of new venture ideas. In this course students will interact with entrepreneurs, participate in class discussion, and be active participants in the teaching/learning process.
Prerequisite: EBGN201. Corequisite: EBGN361. 3 hours lecture; 3 semester hours.
Spring 2017 Syllabus

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EBGN361: BUSINESS PRINCIPLES FOR ENTREPRENEURS- Introduction to each of the functional areas of an entrepreneurial business, including marketing, accounting, finance, operations, human resources management, and business operations. The course is designed to help students appreciate the interrelationship of these business functions and, understand how they operate in an entrepreneurial start-up business. In this course students are expected to participate in class discussion, and be active participants in the teaching/learning process.
Prerequisite: EBGN201. 3 hours lecture; 3 semester hours.
Fall 2013 Syllabus

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EBGN398: INVESTMENTS
Fall 2017 Syllabus

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Senior Year

EBGN401: ADVANCED TOPICS IN ECONOMICS- Application of economic theory to microeconomic and macroeconomic problems. This course will involve both theoretical and empirical modeling. Specific topics will vary by semester depending on faculty and student interest. Topics may include general equilibrium modeling, computational economics, game theory, the economics of information, intertemporal allocations, economic growth, microfoundations of macroeconomic models and policy simulation.
Prerequisites: EBGN301, EBGN302, and EBGN303. 3 hours lecture; 3 semester hours.
Fall 2013 Syllabus

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EBGN403: FIELD SESSION-(S) (WI) An applied course for students majoring in economics. The field session may consist of either participation in a computer simulation or an independent research project under the supervision of a faculty member. In the computer simulation, students work as part of the senior executive team of a company and are responsible for developing and executing a strategy for their company with ongoing decisions on everything from new product development, to marketing, to finance and accounting.
Prerequisites: EBGN301, EBGN302, EBGN303: EPICS251 or permission of the instructor. 3 semester hours.
Summer 2009 Syllabus

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EBGN404 ADVANCED TOPICS IN MICROECONOMICS
Fall 2012 Syllabus

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EBGN409: MATHEMATICAL ECONOMICS-(S)The course applies mathematical tools to economic problems. It covers the mathematics needed to read published economic literature and to do advanced work in economics. It includes topics from differential and integral calculus, matrix algebra, differential equations, and dynamic programming. Applications are taken from mineral, energy, and environmental issues, requiring both analytical and computer solutions using such programs as GAMS and MATHEMATICA. 
Prerequisites: MATH213, EBGN301, EBGN302, MATH332 or MATH348, or permission of instructor. 3 hours lecture; 3 semester hours. (General elective)
Fall 2016 Syllabus

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EBGN430: ADVANCED ENERGY ECONOMICS-(F) Application of economic models to understand markets for oil, gas, coal, electricity, and renewable energy resources. Models, modeling techniques and applications include market structure, energy efficiency, demand-side management, energy policy and regulation. The emphasis in the course is on the development of appropriate models and their application to current issues in energy markets. Prerequisites: EBGN301, EBGN330. 3 hours lecture; 3 semester hours.
Fall 2015 Syllabus

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EBGN437A REGIONAL ECONOMICS-(F) Analysis of the spatial dimension of economics and economic decisions. Interregional capital and labor mobility. Location decisions of firms and households. Agglomeration economies. Models of regional economic growth. measuring and forecasting economic impact and regional growth. Local and regional economic development policy. Urban and regional spatial structure. Emphasis on application of tools and techniques of regional analysis.
Prerequisite: EBGN301. 3 hours lecture, 3 semester hours.
Spring 2016 Syllabus

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EBGN441: INTERNATIONAL ECONOMICS-(*S) Theories and determinants of international trade, including static and dynamic comparative advantage and the gains from trade. The history of arguments for and against free trade. The political economy of trade policy in both developing and developed countries.
Prerequisite: EBGN301. (Public Policy Elective) 3 hours lecture; 3 semester hours. Offered alternate years.
Fall 2016 Syllabus

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EBGN443: PUBLIC ECONOMICS-(F) This course covers public-sector economics, including the fundamental institutions and relationships between the government and private decision makers. It covers the fundamental general equilibrium welfare theorems and their interaction with government policy instruments that affect efficiency and distribution. Normative topics include an intensive study of the causes and consequences of, and policy prescriptions for, market failure due to public goods, or other problems associated with externalities and income distribution. Positive analysis focuses on policy formation in the context of political-economy and public choice theories. Prerequisite: EBGN301. 3 hours lecture, 3 semester hours.
Spring 2017 Syllabus

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EBGN452: NONLINEAR PROGRAMMING-(S) As an advanced course in optimization, this course will address both unconstrained and constrained nonlinear model formulation and corresponding algorithms, e.g., gradient search and Newton's method, Lagrange multiplier methods and reduced gradient algorithms. Applications of state-of-the-art hardware and software will emphasize solving real-world problems in areas such as mining, energy, transportation and the military. Prerequisites: EBGN455 or consent of instructor. 3 hours lecture; 3 semester hours.
Spring 2013 Syllabus

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EBGN455: LINEAR PROGRAMMING-(F) This course addresses the formulation of linear programming models, examines linear programs in two dimensions, covers standard form and other basics essential to understanding the Simplex method, the Simplex method itself, duality theory, complementary slackness conditions, and sensitivity analysis. As time permits, multiobjective programming, basic linear integer programming, and the interior point method are introduced. Application of linear programming models discussed in this course include, but are not limited to, the areas of manufacturing, finance, energy, mining, transportation and logistics, and the military. Prerequisites: MATH332 or MATH348 or EBGN409 or permission of instructor. 3 hours lecture; 3 semester hours.
Fall 2014 Syllabus

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EBGN456: NETWORK MODELS- Network models are linear programming problems that possess special mathematical structures. This course examines a variety of network models, specifically, spanning tree problems, shortest path problems, maximum flow problems, minimum cost flow problems, and transportation and assignment problems. For each class of problem, we present applications in areas such as manufacturing, finance, energy, mining, transportation and logistics, and the military. We also discuss an algorithm or two applicable to each problem class. As time permits, we explore combinatorial problems that can be depicted on graphs, e.g., the traveling salesman problem and the Chinese postman problem, and discuss the tractability issues associated with these problems in contrast to "pure" network models.
Prerequisites: MATH111, EBGN325 or EBGN455, or permission of the instructor. 3 hours lecture; 3 semester hours. 
Spring 2013 Syllabus

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EBGN457: INTEGER PROGRAMMING-(F) As an advanced course in optimization, this course will address computational performance of linear and linear-integer optimization problems, and, using state-of-the-art hardware and software, will introduce solution techniques for “difficult” optimization problems. We will discuss such methodologies applied to the monolith, e.g., branch-and-bound and its variations, cutting planes, strong formulations, as well as decomposition and reformulation techniques, e.g., Lagrangian relaxation, Benders decomposition, column generation. Additional special topics may be introduced as time permits. Prerequisites: EBGN455 or consent of instructor. 3 hours lecture; 3 semester hours.
Fall 2014 Syllabus

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EBGN459: SUPPLY CHAIN MANAGEMENT-(S) As a quantitative managerial course, the course will explore how firms can better organize their operations so that they more effectively align their supply with the demand for their products and services. Supply Chain Management (SCM) is concerned with the efficient integration of suppliers, factories, warehouses and retail-stores (or other forms of distribution channels) so that products are provided to customers in the right quantity and at the right time. Topics include managing economies of scale for functional products, managing market-mediation costs for innovative products, make-to order versus make-to-stock systems, quick response strategies, risk pooling strategies, supply-chain contracts and revenue management. Additional “special topics” will also be introduced, such as reverse logistics issues in the supply-chain or contemporary operational and financial hedging strategies. Prerequisites: consent of the instructor. 3 hours lecture; 3 semester hours.
Spring 2009 Syllabus

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EBGN460: BUSINESS PLAN DEVELOPMENT- This course leads students through the process of developing a detailed business plan for a start-up company. The creation of a business plan can be challenging, frustrating, fascinating and will lead to a more in-depth understand of how businesses start and operate. Most new ventures are started by teams, with complementary skills and experience sets. In this class, therefore, students will work in teams to develop and write a business plan. This class is also about identifying a new product or service with a viable market and potential to develop into a profitable enterprise by expanding the feasibility study work from EBGN360. This course is the hands-on work of developing a business plan, and as such is intense and demanding. Additionally, this course will integrate previous entrepreneurship, business and economics classes. In this course students are expected to participate in class discussion, and be active participants in the teaching/learning process.
Prerequisites: EBGN360, EBGN361. 3 hours lecture; 3 semester hours.

EBGN461: STOCHASTIC MODELS IN MANAGEMENT AND SCIENCE-(S) As a quantitative managerial course, the course is an introduction to the use of probability models for analyzing risks and economic decisions and doing performance analysis for dynamic systems. The difficulties of making decisions under uncertainty are familiar to everyone. We will learn models that help us quantitatively analyze uncertainty and how to use related software packages for managerial decision-making and to do optimization under uncertainty. Illustrative examples will be drawn from many fields including marketing, finance, production, logistics and distribution, energy and mining. The main focus of the course is to see methodologies that help to quantify the dynamic relationships of sequences of "random” events that evolve over time. Prerequisites: consent of the instructor. 3 hours lecture; 3 semester hours.
Spring 2012 Syllabus

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EBGN470: ENVIRONMENTAL ECONOMICS-(F) This course considers the role of markets as they relate to the environment. Topics discussed include environmental policy and economic incentives, market and non-market approaches to pollution regulation, property rights and the environment, the use of benefit/cost analysis in environmental policy decisions, and methods for measuring environmental and non-market values. prerequisite: EBGN 301. 3 hours lecture, 3 semester hours.
Spring 2017 Syllabus

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EBGN474: INVENTING, PATENTING, & LICENSING-(S)
The various forms of intellectual property, including patents, trademarks, copyrights, trade secrets and unfair competition are discussed; the terminology of inventing, patenting and licensing is reviewed, and an overview of the complete process is given; the statutes most frequently encountered in dealing with patents (35 USC §101, §102, §103 and §112) are introduced and explained; the basics of searching the prior art are presented; participants 'walk through' case histories illustrating inventing, patenting, licensing, as well as patent infringement and litigation; the importance of proper documentation at all stages of the process is explained; the "do's" and "don't" of disclosing inventions are presented; various types of agreements are discussed including license agreements; methods for evaluating the market potential of new products are presented; the resources available for inventors are reviewed; inventing and patenting in the corporate environment are discussed; the economic impacts of patents are addressed. Prerequisite: Permission of instructor. 3 hours lecture; 3 semester hours. Offered in Field session and Summer session only.
Summer 2009 Syllabus

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EBGN495 ECONOMIC FORECASTING-(F) An introduction to the methods employed in business and econometric forecasting. Topics include time series modeling, Box-Jenkins models, vector autoregression, cointegration, exponential smoothing and seasonal adjustments. Covers data collection methods, graphing, model building, model interpretation, and presentation of results. Topics include demand and sales forecasting, the use of anticipations data, leading indicators and scenario analysis, business cycle forecasting, GNP, stock market prices and commodity market prices. Includes discussion of links between economic forecasting and government policy. Prerequisites:EBGN301, EBGN302, EBGN303. 3 hours lecture; 3 semester hours. 


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