The analysis of public policy implemented through public budgets. Expenditure topics include public goods, externalities, social welfare, income distribution, and benefit-cost analysis. Revenue topics include the incidence, neutrality, revenue productivity, and equity of alternative taxes. 301 Analysis of the economic criteria for regulatory policies and the effects of regulation in various sectors of the economy. Study of empirical works that demonstrate how economic theory is implemented in practice.
Areas covered include consumption, production, wage and employment, monetary and fiscal policies.
ECO 335 or ECO 337 Advanced theory of money and its effect upon interest rates, prices, employment, and output. A higher standard of eligibility applies to the research apprenticeship option, and prior approval from the director of undergraduate studies in economics is required Development of an individual project of inquiry into an area of economics of particular relevance to student's interest.