M.A. Course Descriptions

EC 205
MATHEMATICAL ECONOMICS
3 units
Pre-requisite: EC 115 or equivalent
A foundation course for the microeconomics and macroeconomics sequence that provides advanced training in mathematical techniques essential to economic analysis. Topics include static and comparative static analyses, optimization, economic dynamics, mathematical programming, and game theory.
 
EC 210
STATISTICS FOR ECONOMISTS
3 units
The course covers statistical concepts and methods that are used for descriptive analysis and testing of relationships among economic variables. Topics include describing and summarizing data, probability theory and decision analysis, statistical inferences, and linear regression.

EC 215
PRICE AND ALLOCATION THEORY
3 units
A discussion on the foundations of microeconomic analysis within the neoclassical framework as well as the tools for analyzing problems of resource allocation. Topics include the theory of consumer and firm behavior, competition, pricing in goods and factor markets, the general equilibrium model, and welfare economics.

EC 217
ECONOMETRICS
3 units
Pre-requisites: EC 210, Consent of instructor
An introduction to estimation techniques and research methodologies and their applications for testing and empirical investigations in economics, forecasting, and guiding economic policy. Emphasis is on the practical applications of econometric techniques through computing methods or the use of software packages.

EC 220
MACROECONOMIC THEORY
3 units
A discussion on classical, monetarist, rational expectations, and new classical macroeconomics that aims to provide grounding in theory in aggregate economics.

EC 224
HISTORY OF ECONOMICS
3 units
A course that traces the evolution and development of economic thought from Pre-Classical Political Economy (Mercantilism and Physiocracy) to the Classical Political Economy and early Socialist thought, Austrian School, Neoclassical School (Marginal Revolution), and Keynesian Economics and the Institutionalists.

EC 232
ECONOMIC RESEARCH
3 units
Pre-requisites: EC 205, EC 210, EC 215, EC 217, EC 220, A field of specialization
An introduction to the different research methodologies in economics that permit students to engage in a piece of focused research by integrating the substantive knowledge obtained from various required courses. At the end of the course, students are expected to submit a research report.

EC 250
ECONOMICS OF LABOR AND MANPOWER DEVELOPMENT
3 units
Pre-requisites: EC 215 and EC 220
A study of the institutional organization of labor markets and the resulting policy implications.

EC 255
ECONOMICS OF MONEY AND BANKING
3 units
Pre-requisites: EC 215 and EC 220
A course on the fundamentals of monetary economics which analyzes the dynamics of the financial system components, such as financial intermediation and institutions in the Philippines as they affect general economic stability.

EC 265
FINANCIAL ECONOMICS
3 units
Pre-requisites: EC 205 and EC 215
A discussion on the principles of financial theory and analysis of investment decisions. The course also looks into the corporation as an economic institution for ordering the allocation and administration of resources.

EC 270
MANAGERIAL ECONOMICS
3 units
Pre-requisites: EC 215 and EC 220
A course that provides a practical approach to managerial decision-making in both private and public sectors, integrating microeconomic theory with management science and other disciplines such as accounting, finance, and marketing.
 
EC 275
INTERNATIONAL ECONOMICS
3 units
Pre-requisite: EC 215
A study of the theory and practice of international trade and finance as well as economic relations and interdependence among nations.

EC 280
ECONOMICS OF DEVELOPMENT
3 units
Pre-requisite: EC 220
A study of the major issues and problems of economic growth and development faced by developing countries.

EC 281
URBAN AND REGIONAL DEVELOPMENT
3 units
Pre-requisites: EC 215 and EC 220
A study of the theories and applications of economics of industrial location and public facility siting, urban structure and regional expansion, and land utilization. Emphasis is on their interdependence and the contribution of public policy to locational objectives, methods, stability, and balance.

EC 285.2
SPECIAL TOPICS IN ECONOMICS: INTERNATIONAL ECONOMIC RELATIONS
3 units
Pre-requisites: EC 215, EC 220
A course on contemporary issues of international economics, especially in the context of a
developing country. Topics include economic globalization, impact of foreign direct
investment, preferential trade agreements, product fragmentation phenomenon, implication
of global imbalances, international labor migration, Finance-Growth nexus, and real
exchange rate.

EC 285.5
SPECIAL TOPICS IN ECONOMICS: RURAL DEVELOPMENT
3 units
Pre-requisites: EC 215, EC 220, EC 280
A discussion on the topic of capitalism in relation to peripheral economies and an analysis of
the Philippine agrarian situation. Topics include the principles of project and resource
management.
 
EC 285.12
SPECIAL TOPICS IN ECONOMICS: INTERNATIONAL POLITICAL ECONOMY
3 units
Pre-requisites: EC 215, EC 220, EC 275
A course that provides students with the fundamentals of international political economy.
Topics include the different ideologies and principles of international political economy,
experiences of developed and developing economies, and current Philippine tariff and trade
policies.

EC 285.14
SPECIAL TOPICS IN ECONOMICS: ECONOMICS OF NATURAL RESOURCES
AND ENVIRONMENT
3 units
Pre-requisites: EC 215, EC 220
A study of the relationship and effects of economic activities on the environment as well as
the conceptual and policy tools to address environmental problems. Topics include market
failure and externalities; the economic functions of the environment; and the meaning,
conditions, and constraints of sustainable development.

EC 285.18
SPECIAL TOPICS IN ECONOMICS: DEVELOPMENT PLANNING
3 units
Pre-requisites: EC 215, EC 220, EC 280
An overview of development planning and the rationale for planning in developing countries.
The course covers basic concepts pertaining to the planning process including
macroeconomic methods, sector/inter-industry analysis, project appraisal, and regional and
spatial models. The Philippine experience with development planning is also discussed.

EC 285.29
SPECIAL TOPICS IN ECONOMICS: INDUSTRIAL ORGANIZATION
3 units
Pre-requisites: EC 205, EC 215
A course on topics of current research interest in industrial organization. Research papers
include theoretical and conceptual approaches to the study of firms and industries; the
application of quantitative methods such as game theory and econometrics; and issues of
public policy that foster competition.

EC 285.45
SPECIAL TOPICS IN ECONOMICS: INTERNATIONAL FINANCE
3 units
Pre-requisites: EC 215, EC 220
A study of the balance of payments, open economy microeconomics and macroeconomics,
exchange rates and the choice of exchange rate regime, devaluation and inflation, policies
for internal and external balance, and the economics of debt. The course also studies recent
Philippine experience with international monetary system.
 
EC 285.48
SPECIAL TOPICS IN ECONOMICS: MODERN CHINESE ECONOMY
3 units
Pre-requisites: EC 220, EC 280
A study of the evolution of the Chinese economy from a centrally-planned system to a
market-oriented one. It reviews the growth of the Chinese economy since 1979 and the
policy reforms in agriculture, industry, foreign trade, and the banking and financial sectors.

EC 285.56
SPECIAL TOPICS IN ECONOMICS: ECONOMICS OF TECHNOLOGY
AND TECHNOLOGICAL CHANGE
3 units
Pre-requisite: Any calculus subject
A study of the basic aspects and consequences of technology; the role of technological
change as a driver of long-term growth according to the neoclassical and alternative
evolutionary schools; and the role of developing countries in the quest for development and
growth.

EC 285.58
SPECIAL TOPICS IN ECONOMICS: ECONOMIC DEMOGRAPHY
3 units
Pre-requisites: Familiarity with microeconomic theory and sufficient knowledge of
statistics or econometrics to evaluate regression analysis
A discussion on economic approaches to the study of population changes. Topics include
microeconomic demand framework of household consumption and labor supply and
production; game theoretic approaches to bargaining and marriage; and historical and
contemporary population problems using the perspective of the individual and the
household.

EC 285.60
SPECIAL TOPICS IN ECONOMICS: ENVIRONMENTAL POLICY
3 units
A course on the selection and design of policy instruments for the environment. Topics
include the need for environmental and natural resource policy; kinds of policy instruments
and their effects; criteria in selecting policy instruments; and policy instruments for specific
environmental sectors.

EC 285.62
SPECIAL TOPICS IN ECONOMICS: THEORY OF CAPITALIST DEVELOPMENT
3 units
Pre-requisites: Approval of professor
An introduction to the fundamental theory of capitalism and capitalist development (as
developed by Karl Marx and Marxists). Students learn the basics of capitalist dynamics –
from its strengths to its problems. Topics include value creation, accumulation, crises and
depressions, and imperialism.

EC 285.63
SPECIAL TOPICS IN ECONOMICS: COMPARATIVE ECONOMIC THEORIES:
NEOCLASSICAL VS. MARXIAN ECONOMICS
3 units
Pre-requisite: Approval of professor
An introduction to the debates between capitalism and socialism. Students review the
representative economic theory of capitalism (i.e., Neoclassical Economics) and discover the
representative economic theory of socialism (i.e., Marxian Economics).

EC 299
MASTER’S THESIS
0 unit
Pre-requisite: Passing the MA comprehensive examinations
An integration of theories and application of econometric analysis in research through the
writing of the Master’s thesis. Credit is granted only upon successful completion, defense,
and final submission of the thesis.