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Use of advanced industrial organization and related models for analysis of horizontal markets and vertical channels of distribution in the marketing system. Sample topics include market entry, spatial competition, price discovery and transmission, product quality, and vertical restraints of trade.

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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.

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Economic models of renewable and nonrenewable natural resources; introduction to dynamic optimization; and the theory of environmental policy.

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.

Introduction to quantitative techniques used in resource economics theory and applications. Basic mathematical concepts and methods of microeconomics and their uses in optimization and comparative statics analysis.