Economics Department -Full Course Listing

Full Course Listing

Economics Department

Economics: 101, 102, 103, 201, 202, 203, 204, 210, 213, 214, 215, 220, 222, 223, 225, 226, 232, 238, 241, 243, 250, 300, 310, 312, 313, 314, 318, 320, 323, 325, 326, 331, 333, 335, 343, 350, 360, 370, 399

ECON 101 Principles of Microeconomics
Staff
This first course in economics introduces students to the market system. Microeconomics considers the decisions of households and firms about what to consume and what to produce, and the efficiency and equity of market outcomes. Supply and demand analysis is developed and applied. Policy issues include price floors and ceilings, competition and monopoly, income distribution, and the role of government in a market economy.
Prerequisite: Fulfillment of the basic skills component of the Quantitative Reasoning requirement.
Distribution: Social and Behavioral Analysis
Semester: Fall, Spring, Summer Unit: 1.0

ECON 102 Principles of Macroeconomics
Staff
This course follows 101 and analyzes the aggregate dimensions of a market-based economy. Topics include the measurement of national income, economic growth, unemployment, inflation, business cycles, the balance of payments, and exchange rates. The impact of government monetary and fiscal policies is considered.
Prerequisite: 101. Fulfillment of the basic skills component of the Quantitative Reasoning requirement.
Distribution: Social and Behavioral Analysis
Semester: Fall, Spring, Summer Unit: 1.0

ECON 103/SOC 190 Introduction to Probability and Statistical Methods
Levine, Swingle (Sociology)
An introduction to the collection, analysis, interpretation, and presentation of quantitative data as used to understand problems in economics and sociology. Using examples drawn from these fields, this course focuses on basic concepts in probability and statistics, such as measures of central tendency and dispersion, hypothesis testing, and parameter estimation. Data analysis exercises are drawn from both academic and everyday applications. Students must register for a laboratory section which meets an additional 70 minutes each week. Students may register for either
ECON 103 or SOC 190 and credit will be granted accordingly.
Prerequisite: 101 or 102 or one course in Sociology and fulfillment of the basic skills component of the Quantitative Reasoning Requirement. Not open to students who have taken [QR 199]. Not open to students who have taken or are taking MATH 220 or PSYC 205 or POL 199.
Distribution: Social and Behavioral Analysis. Fulfills the Quantitative Reasoning overlay course requirement. Does not satisfy the laboratory requirement.
Semester: Fall, Summer Unit: 1.0

ECON 201 Intermediate Microeconomic Analysis
Velenchik, Skeath, Johnson
Intermediate microeconomic theory: analysis of the individual household, firm, industry, and market, and the social implications of resource allocation choices. Emphasis on application of theoretical methodology.
Prerequisite: 101, 102 and MATH 115
Distribution: Social and Behavioral Analysis
Semester: Fall, Spring Unit: 1.0

ECON 202 Intermediate Macroeconomic Analysis
Weerapana, Nabar
Intermediate macroeconomic theory: analysis of fluctuations in aggregate income and growth and the balance of payments. Analysis of policies to control inflation and unemployment.
Prerequisite: 101, 102 and MATH 115
Distribution: Social and Behavioral Analysis
Semester: Fall, Spring Unit: 1.0

ECON 203 Econometrics
Coile, Levine, Sneeringer
Application of statistical methods to economic problems. Emphasis will be placed on regression analysis that can be used to examine the relationship between two or more variables. Issues involved in estimation, including goodness-of-fit, statistical inference, dummy variables, heteroskedasticity, serial correlation, and others will be considered. Emphasis will be placed on real-world applications.
Prerequisite: 101, 102, MATH 115, and 103 (or [QR 199]) or MATH 220 or PSYC 205. Not open to students who have taken [200].
Distribution: Social and Behavioral Analysis
Semester: Fall, Spring Unit: 1.0

ECON 204 U.S. Economic History
Dupont
This course traces the structure and development of the U.S. economy from colonial times to World War II; highlights historical episodes including the start of the nation, slavery, the westward movement, the Civil War, and the Great Depression. Specific topics include agriculture, trade, technology, finance, and labor. Emphasis on relating U.S. historical experience to current economic problems.
Prerequisite: 101 and 103 (or [QR 199])
Distribution: Historical Studies or Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 210 Financial Markets
Mosher
Overview of financial markets and institutions, including stock and bond markets, money markets, derivatives, financial intermediaries, monetary policy, and international currency markets.
Prerequisite: 101, 102, and 103 (or [QR 199])
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 213 International Finance and Macroeconomic Policy
Mazumdar, Weerapana
This course introduces the study of macroeconomics in an open economy. Topics include basic features of foreign exchange markets, the structure of the balance of payments accounts, and the effectiveness of macroeconomic policy under fixed and flexible exchange rates and varying degrees of capital mobility. The course also examines the evolution of the international financial system, the role of the IMF, the creation of the European Monetary Union and the recent financial crises in East Asia, Russia, and Brazil.
Prerequisite: 101 and 102
Distribution: Social and Behavioral Analysis
Semester: Fall, Spring Unit: 1.0

ECON 214 Trade and Immigration
Lindauer
An introduction to international trade in theory and practice. Emphasis on the application of microeconomic principles in international economics. Topics to be covered include the debate over free versus fair trade; trade and the welfare of workers in developed and developing nations; the use of tariffs, quotas, and other instruments of protection; trade deficits; and the costs and benefits of international migration.
Prerequisite: 101 and 102. Not open to students who have taken [212].
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 215 Federal Tax Policy
NOT OFFERED IN 2006-07. An introduction to and economic analysis of the Federal tax system, including the individual income tax, the corporation income tax, Social Security taxes, and the gift and estate tax. Economic analysis will focus on equity and efficiency. Policy issues to be covered include the effect of taxes on savings, investment, and labor supply. Also covered will be alternatives to the current structure including “flat taxes” and value-added taxes.
Prerequisite: 101
Distribution: Social and Behavioral Analysis
Semester: N/O Unit: 1.0

ECON 220 Development Economics
Lindauer
Survey and analysis of problems and circumstances of less developed nations. Examination of theories of economic growth for poor nations. Review of policy options and prospects for low and middle income economies. Specific topics include: population growth, poverty and income distribution, foreign aid, and human resource strategies.
Prerequisite: 101 and 102. 103 (or [QR199]) recommended.
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 222 Games of Strategy
Skeath
Should you sell your house at an auction where the highest bidder gets the house, but only pays the second-highest bid? Should the U.S. government institute a policy of never negotiating with terrorists? The effects of decisions in such situations often depend on how others react to them. This course introduces some basic concepts and insights from the theory of games that can be used to understand any situation in which strategic decisions are made. The course will emphasize applications rather than formal theory. Extensive use is made of in-class experiments, examples, and cases drawn from business, economics, politics, movies, and current events.
Prerequisite: 101. Permission of instructor required.
Distribution: Social and Behavioral Analysis
Semester: Spring Unit: 1.0

ECON 223 Personal Finance
Witte
What should you study? How should you invest? These questions require knowledge of both the law and economics of personal finance. The course offers a hands-on approach that uses real world prototypes. The earning, spending, investing and insuring decisions of the prototypes over the course of their lives provides the framework for class discussions. The course incorporates many of the latest developments in finance. It provides a way of thinking about personal finance that will be relevant even as the law and financial markets change.
Prerequisite: 101 and 103
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 225 Urban Economics
Case
Analysis of the location decisions of households and firms. Topics include real estate development and finance, housing markets and housing finance, real estate cycles, regional economics, problems of the inner city, discrimination in housing and credit markets, homelessness, and alternative public policy responses to urban problems. The course requires several projects involving fieldwork.
Prerequisite: 101
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 226 Economics of Education Policy
NOT OFFERED IN 2006-07. Applies microeconomic analysis to important questions in education policy. Should private school vouchers be implemented? Are there teacher shortages and how can they be solved? What are the long-term benefits of early childhood education? The course uses conceptual insights from microeconomics to understand these and other questions; particular emphasis is placed on economic interpretation of case studies and contemporary policy debates.
Prerequisite: 101 and 103 (or [QR199])
Distribution: Social and Behavioral Analysis
Semester: N/O Unit: 1.0

ECON 228 Environmental and Resource Economics
Sneeringer
This course considers the economic aspects of resource and environmental issues. After examining the concepts of externalities, public goods, and common property resources, we will discuss how to measure the cost and benefits of environmental policy, in order to estimate the socially optimal level of the environmental good. Applications of these tools will be made to air and water pollution, renewable and nonrenewable resources, and global climate. In addressing each of these problems we will compare various public policy responses such as regulation, marketable permits and tax incentives.
Prerequisite: 101
Distribution: Social and Behavioral Analysis
Semester: Spring Unit: 1.0

ECON 232 Health Economics
Sneeringer
An economic analysis of the health care system and its players: government, insurers, health care providers, patients. Issues to be studied include demand for medical care, health insurance markets, cost controlling insurance plans (HMOs, PPOs, IPAs), government health care programs (Medicare and Medicaid), variations in medical practice, medical malpractice, competition versus regulation, and national health care reform.
Prerequisite: 101
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 238 Economics and Politics
NOT OFFERED IN 2006-07. This course provides an introduction to the study of the interaction between economics and the political process from both international and domestic perspectives. Topics include voting theories, public good provision, taxes and subsidies, and the effects of market power and rent-seeking behavior on the political system. Emphasis throughout will be on the application of economic theories to current events.
Prerequisite: 101 and 102
Distribution: Social and Behavioral Analysis
Semester: N/O Unit: 1.0

ECON 241 Poverty and Inequality in Latin America
McEwan
Survey of economic development in the Latin American region, focusing upon poverty and inequality and the data used to measure them. Topics to be covered include regional and national trends in poverty and inequality and the formulation and evaluation of social policies, especially in the areas of education and health. Work in the course will emphasize the interpretation and use of data

Prerequisite: 101 and 103
Distribution: Social and Behavioral Analysis
Semester: Spring Unit: 1.0

ECON 243 The Political Economy of Gender, Race, and Class
Matthaei
An introduction to radical economic analysis of contemporary, globalizing capitalism. Analysis of race, class, and gender, and of their interconnections. Radical economic critiques of current neo-liberal economic policies. Study and critique of contemporary radical economic movements, including the environmental movement; the movements for socially responsible consumption, investment, business, and work; and the antiglobalization or globalization from below movement.
Prerequisite: 101 or 102 or permission of instructor
Distribution: Social and Behavioral Analysis
Semester: Spring Unit: 1.0

ECON 250 Research or Individual Study
Prerequisite: Open by permission to students who have taken 101 and 102.
Distribution: None
Semester: Fall, Spring Unit: 1.0

ECON 250H Research or Individual Study
Prerequisite: Open by permission to students who have taken 101 and 102.
Distribution: None
Semester: Fall, Spring Unit: 0.5

ECON 266 Long Run Economic Change in Africa
NOT OFFERED IN 2006-07. This course traces the development of African economies from before colonialization to the present day. The course considers why economic development in Africa has been so slow compared to other regions of the world, how European intervention on the continent affected economic dynamics in the twentieth century, and how HIV/AIDS is affecting labor markets and economic performance in the twenty-first century. Throughout the course we will try to understand the economic and social factors behind Africa’s perennial economic malaise and why there are seemingly constant impediments to successful economic growth on the continent.
Prerequisite: 101 and 103 (or [QR199])
Distribution: Social and Behavioral Analysis
Semester: N/O Unit: 1.0

ECON 300 Mathematics for Economics
Weerapana
NOT OFFERED IN 2006-07. In this course, students will apply mathematical techniques in economic analysis. Students are expected to have a good knowledge of calculus and will be introduced to topics in linear algebra, differential equations, and static and dynamic optimization. Emphasis will be placed on economic applications including maximization decisions of consumers and producers, comparative statistics, phase diagram analysis of dynamic systems, and basic features of dynamic optimization.
Prerequisites: 201 and 202, MATH 205. MATH 206 recommended. Not open to students who have taken
ECON 303 Mathematics for Economics.
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 303 Advanced Econometrics
NOT OFFERED IN 2006-07. This course builds upon 203 (Econometrics) by allowing students to examine more advanced topics, including techniques of model specification, estimation, and evaluation. Both cross-sectional and time series models are considered.
Prerequisite: 201, 202, and 203 (or [200]). Open to students who have taken
ECON 303 Mathematics for Economics.
Distribution: Social and Behavioral Analysis
Semester: N/O Unit: 1.0

ECON 304 Seminar. New Institutional Economic History
NOT OFFERED IN 2006-07. This course will investigate the evolution of economic institutions throughout the world over the past 1,000 years. We will consider a broad range of institutional questions and use evidence from historical episodes in their analysis. How are effective trading rules created (evidence from the eleventh-century Maghribi traders)? How does a government become “credible” (evidence from seventeenth-century England)? Why have Blacks consistently earned less than Whites (evidence from nineteenth- and twentieth-century America)? What are the effects of governmental tampering with housing prices (evidence from early twentieth-century Hong Kong)?
Prerequisite: 201 and 203 (or [200])
Distribution: Historical Studies or Social and Behavioral Analysis
Semester: Spring Unit: 1.0

ECON 305 Industrial Organization
NOT OFFERED IN 2006-07. A course in applied microeconomics, focusing on the performance of real world markets. Emphasis on the welfare costs of market power as well as public policy responses. Topics include analysis of imperfectly competitive markets (e.g., monopolistic competition, oligopoly, imperfect and asymmetric information), firm and industry strategic conduct, and antitrust policy attempts to improve industrial performance.
Prerequisite: 201
Distribution: Social and Behavioral Analysis
Semester: N/O Unit: 1.0

ECON 310 Public Economics
Coile
This course explores the reasons for government intervention in the economy and the responses of households and firms to the government’s actions. Economic models and empirical research are used to analyze tax policies and spending programs. Topics include the effect of taxes on savings and labor supply, externalities and public goods, and social insurance programs such as social security and unemployment insurance.
Prerequisite: 201 and 203 (or [200])
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 312 Economics of Globalization
Joyce
The process of globalization has aroused great controversy. This course examines the reasons for the integration across borders of the markets in goods and the factors of production, and the consequences of these trends. In the first part of the course we discuss the meanings, measurement and history of globalization. We then investigate the rationale and record of international trade, the immigration of labor and global financial flows. We examine issues related to international public goods, and the need for collective solutions to such global problems as pandemics and pollution. We also investigate the records of international governmental organizations.
Prerequisite: 201, 202 and 203
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 313 Seminar. International Macroeconomics
Joyce
Theory and policy of macroeconomic adjustment in the open economy. Topics to be covered include models of exchange rate determination, the choice between fixed and floating exchange rates, monetary union, policy effectiveness in open economies under different exchange rate regimes, and adjustment to balance of payments disequilibria.
Prerequisite: 202 and 203 (or [200])
Distribution: Social and Behavioral Analysis
Semester: Spring Unit: 1.0

ECON 314 International Trade Theory
Mazumdar
Theoretical analysis of international trade. Emphasis on models of comparative advantage, determination of gains from trade and the effects of trade restrictions such as tariffs and quotas. Further topics include the role of scale economies, the political economy of protectionism, and strategic trade policy.
Prerequisite: 201
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 318 Economic Analysis of Social Policy
Levine
This course uses economic analysis to evaluate important social policy issues in the U.S., focusing on the role of government in shaping social policy and its impact on individuals. Does welfare make people work less or have more children? Why is the teenage birthrate so high and how might it be lowered? How do fertility patterns respond to changes in abortion policy? Theoretical models and econometric evidence will be used to investigate these and other issues.
Prerequisite: 201 and 203 (or [200])
Distribution: Social and Behavioral Analysis
Semester: Spring Unit: 1.0

ECON 320 Seminar. Economic Development
Velenchik
This course uses the United Nations’ Millennium Development Goals as an organizing structure for its exploration of the determinants of living standards in the developing world. We will be looking at the achievement of these goals at the level of the region, nation, village, household and individual. Our study will be based in the recent empirical literature in the field, and will include both written work and oral presentations.
Prerequisite: 201 and 203 (or [200])
Distribution: Social and Behavioral Analysis
Semester: Spring Unit: 1.0

ECON 323 Finance Theory and Applications
Watson
This course provides a rigorous treatment of financing and capital budgeting decisions within firms. Topics include: financial statement analysis; strategies and analytical methods for the evaluation of investment projects; capital structure and dividend policy decisions; risk, return, and the valuation of financial instruments; and management incentive structures. Risk management and the use of derivatives will also be
considered.
Prerequisite: 201 and 203 (or [200]). Not open to students who have taken [330 Topic A].
Distribution: Social and Behavioral Analysis
Semester: Fall, Spring Unit: 1.0

ECON 325 Law and Economics
Economic analysis of legal rules and institutions. Application of economic theory and empirical methods to the central institutions of the legal system including the common law doctrines of negligence, contract, and property as well as civil, criminal, administrative procedure and family law. The course will contrast economic and noneconomic theories of law and will address the strengths and limitations of the economic approach to law.
Prerequisite: 201 and 203 (or [200])
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 326 Seminar. Methods of Education Policy Analysis
NOT OFFERED IN 2006-07. This course applies modern econometric methods and evaluation design to the analysis of contemporary issues in education policy. Methods include randomized experiments, regression-discontinuity analysis, and the use of panel data. Issues include school accountability, private school vouchers, and policies toward teacher labor markets. Students will conduct extensive empirical analysis of education data.
Prerequisite: 201 and 203 [200]
Distribution: Social and Behavioral Analysis
Semester: N/O Unit: 1.0

ECON 331 Seminar. Monetary Theory and Policy
NOT OFFERED IN 2006-07. The formulation of monetary policy and its theoretical foundations. This includes discussion of the latest developments in monetary theory, the money supply process, monetary autonomy in an open economy, and current procedures in the U.S. and other nations.
Prerequisite: 202 and 203 (or [200])
Distribution: Social and Behavioral Analysis
Semester: N/O Unit: 1.0

ECON 333 Economic Growth
Nabar
This course studies differences in living standards and economic growth across countries. It focuses on both the historical experience of countries that are currently rich and the process of catch-up among poor countries. Topics include the accumulation of physical and human capital, population growth, technological change, trade, geography, institutions, and inequality. Theoretical models and econometric evidence will be used to study these issues.
Prerequisite: 202 and 203 (or [200])
Distribution: Social and Behavioral Analysis
Semester: Fall Unit: 1.0

ECON 335 Seminar. Economic Journalism
Lindauer
Not Offered 2006-07. Students will combine their knowledge of economics, including macro, micro and econometrics, with their skills at exposition, in order to address current economic issues in a journalistic format. Students will conduct independent research to produce weekly articles. Assignments may include coverage of economic addresses, book reviews, recent journal articles, and interviews with academic economists. Class sessions will be organized as workshops devoted to critiquing the economic content of student work. Enrollment limited to 10.
Prerequisite: 201, 202, and 203 (or [200])
Distribution: Social and Behavioral Analysis
Semester: N/O Unit: 1.0

ECON 343 Seminar. Feminist Economics
Matthaei
An exploration of the diverse field of feminist economics, which critically analyzes both economic theory and economic life through the lens of gender and advocates various forms of feminist economic transformation. Areas of focus include economic analysis of gender differences and inequality in the family and in the labor market; feminist critiques of current economic institutions and policies, and suggested alternatives; and feminist critiques of economic theory and methodology.
Prerequisite: 201, 202, or permission of instructor
Distribution: Social and Behavioral Analysis
Semester: Spring Unit: 1.0

ECON 350 Research or Individual Study
Prerequisite: Open by permission to juniors and seniors who have taken 201 and 202; 203 strongly recommended; one 300 level elective recommended. 350 students will be expected to participate in the economic research seminar (see 360).
Distribution: None
Semester: Fall, Spring Unit: 1.0

ECON 360 Senior Thesis Research
Students writing a senior honors thesis will be expected to register for and attend the Economic Research Seminar (ECON 399).
Prerequisite: One 300 level course strongly recommended. By permission of department. See Academic Distinctions.
Distribution: None
Semester: Fall, Spring Unit: 1.0

ECON 370 Senior Thesis
Prerequisite: 360 and permission of department.
Distribution: None
Semester: Fall, Spring Unit: 1.0

ECON 399 Economic Research Seminar
Weerapana
This course is required of all students doing independent work at the level of 350, 360 and 370. The weekly seminar provides a forum for students to present their work to fellow students and faculty and to learn about theoretical and empirical techniques relevant for their work. Econ 399 carries no academic credit beyond that received for the 350/360 or 370.
Prerequisite: Registration in 350/360 or 370.
Distribution: None
Semester: Fall, Spring Unit: 1.0

Created by: Nicole DuRand '06 and Tomoyo Nakamaru '07
Maintained by: Ann Velenchik
Created: July 11, 2005
Last Updated: December 8, 2006
Expires: August 31, 2006