ECON 491

Fall 2025 All Classes

All Classes

Topics in Econometrics

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Credit: 3 OR 4 hours.

Special topics applying advanced econometrics concepts. Students will use quantitative analysis and economic theories to answer economic questions and uncover relationships between variables across a variety of topics; instruction in statistical and computing techniques as needed.

3 undergraduate hours. 4 graduate hours. May be repeated if topics vary, repeatability for undergraduate students unlimited; for graduate students to a maximum of 8 credit hours. Prerequisite: ECON 203; ECON 302; and MATH 220/221 or Calculus I equivalent. See Class Schedule for other prerequisites as indicated depending on topic and content.

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ECON 491 class schedule data for fall 2025
CRN	Type	Section	Time	Day	Location	Instructor	Section Details
77796	Lecture-Discussion	A3	11:00AM -12:20PM	MW	Architecture Building	Shea, J	Part of Term: 1 Date Range: 08/25/25-12/10/25 Credit: 3 hours Section Title: INTERMEDIATE ECONOMETRICS Section Info: NO CREDIT FOR THIS COURSE IF YOU TOOK ECON 471 BEFORE SP25, EXCEPT FOR GRADE REPLACEMENT. FIELD: Econometrics. DESCRIPTION for Intermediate Econometrics: This course is designed to provide students with the essential data analysis skills required to be competitive in the labor market in the new age of AI and is a foundation for advanced 400-level courses including (but not limited to) causal inference, machine learning, forecasting, policy analysis, and financial econometrics. RESTRICTION INFO: https://go.economics.illinois.edu/FallRestrictions Restriction(s): Restricted to Economics or Industrial Engineering or Mathematics or Actuarial Science or Econometrics & Quant Econ or Computer Science & Economics major(s) or minor(s).
77797	Lecture-Discussion	A4	11:00AM -12:20PM	MW	Architecture Building	Shea, J	Part of Term: 1 Date Range: 08/25/25-12/10/25 Special Approval: Departmental Approval Required Credit: 4 hours Section Title: INTERMEDIATE ECONOMETRICS Section Info: Graduate credit requires additional work beyond the undergraduate requirements for this course. Contact instructor for details as soon as instruction begins. See the 3-credit section of this title for course description. Restriction(s): Restricted to Graduate - Urbana-Champaign.
78399	Lecture-Discussion	B3	12:30PM -1:50PM	MW	David Kinley Hall	Durandard, T	Part of Term: 1 Date Range: 08/25/25-12/10/25 Credit: 3 hours Section Title: MARKET FAILURES AND REMEDIES Section Info: FIELD: Econometrics. DESCRIPTION for FIELD: Econometrics \| DESCRIPTION for MARKET FAILURES AND REMEDIES: Economists typically believe that unless there is a specific reason to expect a market to fail, it will likely work well. In this course, we will try to understand why most economics hold the initial presumption that markets work. In doing so, we will uncover several canonical threats to markets and develop a simple typology of market failures: (i) Externalities and pricing failures, (ii) Participation and inefficient matches, (ii) Asymmetric information and inefficient allocation, (iii) Market power and distortions, and (iv) Hold-up, moral-hazard, and dynamic inefficiencies. In each case, we will try to understand whether a planner or regulator could alleviate the market failures. That is, we will not limit ourselves to studying existing markets but also think about how to design (or redesign) poorly performing ones. This is known as Mechanism and Market design. We will approach these issues from a theoretical perspective and examine real-world applications. Examples will include how Google sells advertising space, how medical students are matched to residencies, and how governments auction natural resources, carbon taxation, etc. RESTRICTION INFO: https://go.economics.illinois.edu/SpringRestrictions Restriction(s): Restricted to Economics or Econometrics & Quant Econ or Computer Science & Economics major(s) or minor(s).
78400	Lecture-Discussion	B4	12:30PM -1:50PM	MW	David Kinley Hall	Durandard, T	Part of Term: 1 Date Range: 08/25/25-12/10/25 Special Approval: Advisor Approval Required Credit: 4 hours Section Title: MARKET FAILURES AND REMEDIES Section Info: Graduate credit requires additional work beyond the undergraduate requirements for this course. Contact instructor for details as soon as instruction begins. See the 3-credit hour section of this title for course description. Restriction(s): Restricted to MS:Economics:Policy Econ -UIUC.
77798	Lecture-Discussion	C3	3:30PM -4:50PM	MW	David Kinley Hall	Creal, D	Part of Term: 1 Date Range: 08/25/25-12/10/25 Credit: 3 hours Section Title: BAYESIAN MACHINE LEARNING Section Info: FIELD: Econometrics. DESCRIPTION for Machine Learning: Coming Soon. m. PREREQUISITES: Math 231. Linear Algebra is recommended. RESTRICTION INFO: https://go.economics.illinois.edu/FallRestrictions Restriction(s): Restricted to Economics or Econometrics & Quant Econ or Computer Science & Economics major(s) or minor(s).
77799	Lecture-Discussion	C4	3:30PM -4:50PM	MW	David Kinley Hall	Creal, D	Part of Term: 1 Date Range: 08/25/25-12/10/25 Special Approval: Departmental Approval Required Credit: 4 hours Section Title: BAYESIAN MACHINE LEARNING Section Info: Graduate credit requires additional work beyond the undergraduate requirements for this course. Contact instructor for details as soon as instruction begins. See the 3-credit section of this title for course description. Restriction(s): Restricted to Graduate - Urbana-Champaign.
78395	Lecture-Discussion	D3	9:30AM -10:50AM	MW	David Kinley Hall	Bartik, A	Part of Term: 1 Date Range: 08/25/25-12/10/25 Credit: 3 hours Section Title: DECISION-MAKING Section Info: FIELD: Econometrics; DESCRIPTION for Econometrics of Decision-Making: This course will help students think about how data and economics can be used to inform decision-making in policy, business, and life. We start by covering the four-broad types of data analysis: descriptive analysis, causal inference, cross-sectional prediction, and forecasting. We then learn how economic and decision theory can be used to determine which of these types of data analysis are appropriate for making different types of decisions and what information is needed. We then cover some core techniques in these different types of data analysis. Students will learn about the pitfalls and challenges they will encounter when applying these techniques to actual decisions by tackling real world examples in business, policy, and in their own lives. PREREQUISITES: Required Econ 203, 302 and Math 220/221; Recommended Econ 471 or equivalent statistics course. RESTRICTION INFO: https://go.economics.illinois.edu/FallRestrictions Restriction(s): Restricted to Economics or Econometrics & Quant Econ or Computer Science & Economics major(s) or minor(s).
78396	Lecture-Discussion	D4	9:30AM -10:50AM	MW	David Kinley Hall	Bartik, A	Part of Term: 1 Date Range: 08/25/25-12/10/25 Special Approval: Advisor Approval Required Credit: 4 hours Section Title: DECISION-MAKING Section Info: Graduate credit requires an additional paper or project beyond the undergraduate requirements for this course. Contact instructor for details as soon as instruction begins. See the 3-credit section for course details. Restriction(s): Restricted to MS:Economics:Policy Econ -UIUC.
78463	Lecture-Discussion	E3	11:00AM -12:20PM	MW	Inst Gov & Public Affairs Bldg	Alonso Fontes, D	Part of Term: 1 Date Range: 08/25/25-12/10/25 Credit: 3 hours Section Title: DATA ANALYSIS: PROBLEM SOLVING Section Info: FIELD: Econometrics. DESCRIPTION for Data Analysis for Problem Solving: Students in this course will work in groups to organize and analyze a data set, develop models, solve problems, and present results. Classes will alternate discussions about each step of the process with computer lab work. This class focuses on the process, rather than the results, of data analysis and problem-solving. Participation and presentations will be part of the graded work. REQUIRED PREREQUISITES: Econ 203 and practical experience with R or Python. Restriction(s): Restricted to Economics or Econometrics & Quant Econ or Computer Science & Economics major(s) or minor(s).
78464	Lecture-Discussion	E4	11:00AM -12:20PM	MW	Inst Gov & Public Affairs Bldg	Alonso Fontes, D	Part of Term: 1 Date Range: 08/25/25-12/10/25 Special Approval: Advisor Approval Required Credit: 4 hours Section Title: DATA ANALYSIS: PROBLEM SOLVING Section Info: Graduate credit requires an additional paper or project beyond the undergraduate requirements for this course. Contact instructor for details as soon as instruction begins. See the 3-credit section of this title for course description. REQUIRED PREREQUISITES: Econ 503 (MSPE students) or Econ 203 (undergraduate students) and practical experience with R or Python. MSPE students without Econ 503 credit and undergraduate students without Econ 203 or equivalent credit will be removed from this course Restriction(s): Restricted to MS:Economics:Policy Econ -UIUC.