Shiferaw Gurmu 
Professor of Economics 
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  Course Descriptions:  
 
  • ECON 2106: Principles of Microeconomics - This course provides a systematic study of human and firm behavior within the context of the consumption, production, and distribution of goods. The goal is to provide an introduction to the economic way of thinking and to the economist’s view of the world. The course attempts to develop a student’s ability to think analytically about the economic forces at work in society. Students learn both a specific set of analytical tools in microeconomics and how to apply them to current policy issues.
  • ECON 3910: Intermediate Microeconomics - The course focuses on the behavior of individuals, firms, and the interaction of these agents in the market place. From the consumer’s perspective, the course will consider how individuals and households make decisions regarding, for example, the consumption of goods or the allocation of time. In particular, this class will emphasize how choices are made when various types of constraints confront consumers. Attention will be given to how these choices may change as prices and incomes vary. The course will also examine the behavior of firms, and, specifically, how firms decide how much to produce and by what means. The organization of markets (i.e., competition, monopoly, and oligopoly) and its implications for firm behavior will also be examined. Extension of individual markets to interdependent markets will be considered. We also study public goods (goods that benefit all consumers) and externalities (the effects of consumption and production activities not directly reflected in the market). Applications of the theory to business and public policy issues will be presented throughout.

  • ECON 4950: Econometrics and Applications -The course provides an elementary but comprehensive introduction to the practice of econometrics. It deals with applications of statistical methods to the testing and estimation of economic relationships. The main topics covered include the linear regression model, extensions of the basic linear regression model, and problems that arise when analyzing cross section and time series data by means of regression models. We will use statistical and econometric software to analyze real world data.
  • Econ 8740: Applications in Statistics and Econometrics I - This is a masters level course in econometrics. The course provides comprehensive introduction to the practice of econometrics. It deals with applications of statistical methods to the testing and estimation of economic relationships. The main topics covered include the linear regression model, extensions of the basic linear regression model, and problems that arise when analyzing cross section and time series data by means of linear and nonlinear regression models.
  • ECON 8840: Applications in Statistics and Econometrics II - This is the second part of the masters level course in econometrics. Topics covered include data management, panel data models, discrete models, censoring and sample selection, and program evaluation.
  • ECON 9710: Econometrics I: Statistical Foundations - This course provides probability and statistical tools necessary for studying econometrics at the Ph.D. level. Topics covered include basic techniques of probability theory, estimation, hypothesis testing, and maximum likelihood methods. Applications of these concepts to economic problems and illustrations from economics are emphasized. The course assumes a working knowledge of multivariate calculus, linear algebra and basic statistics.
  • ECON 9730: -Advanced Econometrics - The course deals with econometric methods and applications designed for the analysis of cross-section and panel data models. It can be viewed as a course in microeconometrics, since we cover methods that are most often used in empirical microeconomic research. The main topics covered are maximum likelihood & GMM methods, panel data models, semiparametric and nonparametric methods, simulation techniques, limited dependent variable models, and qualitative response models. Single as well as simultaneous equations models will be treated. Important topical applications will be treated.

  • ECON 9750: Topics in Econometrics - The course treats advanced topics in econometrics. It extends the student's knowledge of modeling and estimation in econometrics. Topics covered in recent years include count and transition data analyses, spatial econometrics, program evaluation and Bayesian econometrics.