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Topics are divided between forecasting techniques and econometric time-series modeling. Discovering the data generating process of a random variable. Univariate approaches for dealing with a time series: exponential smoothing methods and ARIMA models. Tests for stationarity. Unit roots. Dickey-Fuller tests. Augmented Dickey-Fuller models. Multivariate approaches for modeling. Spurious relationships. Cointegration. Vector autoregression. Error correction models.

Basic theory of monopoly and competitive markets; market equilibria; comparative statics; and adjustment process. Analysis of optimizing decisions for firms and consumers; production, cost, and utility functions; comparative static analysis; the derivation of supply and demand curves; risk and uncertainty.

Methodologies for dealing with collinearity, autocorrelation, heteroscedasticity, and endogenous right-hand-side variables. Stochastic restrictions and evaluating restrictions via alternative norms. Generalized least squares procedures. Zellner estimation. Pooling data. Simultaneous systems of equations. Fixed-effects and random-effects models.

Market structure models with application to various industries. Firm behavioral strategies under different market structures. The role of product differentiation, advertising, market power, mergers, barriers to entry, price and non-price rivalry. Market performance including prices, costs, profits, labor issues, and progressiveness. BS-ResEc majors can satisfy their Integrative Experience requirement by taking this course plus Res-Econ 394LI and 453.