Undergraduate Economics Course List

Courses offered by the undergraduate economics program are available to all Carnegie Mellon students. Our courses are sequenced and each builds upon the theory, data-analytic methods and subject areas mastered in lower level courses. The format of courses varies depending on topic and level. Introductory courses typically consist of lectures and recitations. Intermediate and advanced courses tend to be a blend of lectures and seminars, project courses and colloquiums. Directed independent study is possible for students who wish for deeper, self-directed study. 

Our courses complement all Carnegie Mellon undergraduate degrees and are included in the general education programs of the Carnegie Institute of Technology, Dietrich College of Humanities and Social Sciences, Mellon College of Science and School of Computer Science.

We offer two introductory-level courses that are available to the entire university population: Principles of Economics (73-100) and Environmental Economics (73-148). A third introductory course, Freshman Seminar in Economics (73-101), is available only to students in the Dietrich College of Humanities and Social Sciences. None of these courses assume a background of economics.

We offer four intermediate-level courses: Intermediate Microeconomics Analysis (73-230), Intermediate Macroeconomics Analysis (73-240), History of Money and Monetary Analysis (73-375) and Fundamentals of Statistical Modeling (73-407). 

The remaining courses offered are considered advanced topics, data-analytic and theory courses.

    • 73100 Principles of Economics

      Literally, an introduction to economic principles, the goal of this course is to give students an understanding as to what constitutes good “economic thinking”. This thought process is grounded in the construction and use of economics models. Drawing on issues in both microeconomics and ... Read More
    • 73101 Freshman Seminar in Economics

      A topics-based course for first-year students. This course is not a supplement nor a replacement for Principles of Economics. Instead, it meant to introduce students to how social scientists (particularly economists) examine governments, societies, markets, and organizations... Read More
    • 73148 Environmental Economics

      A course for non-majors which explores the interplay between economics and environmental issues. Topics include: market failures and environmental problems, economically efficient allocations of environmental resources, and the intended and unintended consequences of public policies designed to impr... Read More
    • 73160 Foundations of Microeconomics: Applications and Theory

    • 73230 Intermediate Microeconomics

      This course is a calculus-based study of microeconomics.  Topics in partial equilibrium analysis include supply and demand, consumer theory, theory of the firm, profit maximizing behavior, monopoly theory, and perfect competition.  The course concludes with an introduction to general equil... Read More
    • 73240 Intermediate Macroeconomics

      Through macroeconomic models built upon microeconomic foundations, insights are developed into economic growth processes and business cycles.  Topics include aggregation and measurement, national income, business cycle measurement, economic welfare theorems and social inefficiencies, the effect... Read More
    • 73270 Writing for Economists

      A writing course specifically designed for third-year Economics majors and additional majors. Students gain experience with technical writing techniques and skills needed for both their senior thesis and their eventual professional careers. The course emphasizes both individual and group projects. (... Read More
    • 73274 Econometrics I

      This course will provide an introduction to the analysis of economic field data. The first part of the course will discuss how data is generated and how this affects the inferences we can make. In particular, we will look at the difficulties of working with field data and learn how non-random sampli... Read More
    • 73310 Evolution of Economic Issues and Analysis

      This course will be organized around the study of several central topics in the development of economics such as: the "invisible hand;" classical analysis of trade, value, and income distribution; the marginalist revolution; general equilibrium theory; classical monetary economics; Keynesian macroec... Read More
    • 73315 Market Design

      This class is about how to design mechanisms to allocate scarce resources and how to create successful marketplaces and platforms. Our main tool will be economic theory. In most classes, we'll start with a class of problems and develop a theoretical model that helps us identify what is a “good... Read More
    • 73328 Health Economics

      This course will teach the student to use economic analysis to understand critical issues in health care and health policy. We will address issues such as the following: What factors best explain the level and rate of growth of U.S. health expenditures? Does the recent high rate of growth o... Read More
    • 73338 Financial Crises and Risk

      This course provides an in-depth examination of the causes of financial crises as well as what governments can do to prevent them or at least reduce their cost. The course is designed to provide an understanding of individual attitudes towards risk and individual decision making about savings and in... Read More
    • 73341 Within the Firm: Managing through Incentives

      We are living in an exciting age of information and knowledge when inspiring employees within a firm becomes increasingly more important. Aligning the objectives of workers, managers, and owners by providing them with appropriate incentives becomes an emerging paradigm in the modern business world. ... Read More
    • 73347 Game Theory for Economists

      An introduction to the theory of non-cooperative games with an emphasis on economic applications. After an initial examination of two-person, zero-sum games, the notion of a Nash equilibrium in an n-person, non-cooperative game is considered. Existence of and refinements to the equilibrium concept a... Read More
    • 73348 Behavioral Economics

      This course introduces students to behavioral economics which is a subfield of economics that incorporates insights from other social sciences, such as psychology, into economic models and aims to explain the anomalies challenging some of the classical economic models. Minimum grade s... Read More
    • 73352 Public Economics

      In this course, students analyze the role of governments in market economies and their impact on the behavior and welfare of citizens. Reasons for government intervention in markets are examined in light of some of the economic challenges faced by modern societies in an increasingly globalized marke... Read More
    • 73353 Economic Foundations of Regulation with Applications to Financial Markets

      The financial crisis has focused attention on the role of regulation for our financial system and the broader economy.  The course will address the foundations of regulation (“why regulate?”) from various perspectives within the context of a market economy, highlighting the sources ... Read More
    • 73359 Benefit Cost Analysis

      The evaluation of public private sector projects. The theory of benefit-cost analysis and related techniques, such as cost-effectiveness analysis. Attention is given to such issues as valuing goods and services that are not normally traded in the marketplace (e.g., the value of an individual’s... Read More
    • 73363 Econometrics

      This course takes as its starting point ordinary-least-squares estimation and the linear regression model, which are presented utilizing vector and matrix notation. This is followed by the application of OLS to non-linear models. Cases are then considered where the various assumptions of OLS do not ... Read More
    • 73365 Firms, Market Structures, and Strategy

      This course is concerned with the economic analysis of industrial markets that are not perfectly competitive. The effects of imperfect competition on firms’ decisions (pricing, location, advertising, research and development, among others) are reviewed. Implications of these effects in terms o... Read More