PROGRAM DATES
Summer 2004

DIRECTOR
Nathan D. Grawe, Assistant Professor of Economics
Professor Grawe teaches courses in labor economics, economics of inequality, and macroeconomic theory. His primary research interest is in economic inequality, with particular emphasis on the economics of the family.

LOCATION
Cambridge, England
Founded in 1983, the Economics Seminar in Cambridge has been located at Cambridge University for 20 years. The University has been home to many of great economic theorists including Alfred Marshall, John Maynard Keynes, and F.A. Hayek. Being in Britain allows students to study the contemporary British economy as well as the cradle of the Industrial Revolution. The program has become an integral part of the economics curriculum at Carleton, and the faculty believes the seminar’s historical focus and exposure to British culture help students see themselves, their country, and the world with new perspective.

COURSE OF STUDY, 16 CREDITS

ECONOMICS 221: CONTEMPORARY BRITISH ECONOMY (6 CREDITS)
This course will focus on the theoretical and policy debates in British economics since the 1930’s and the development of the structure of the British economy and institutions during that period.
Instructor: Dr. Solomos Solomou, Fellow, Peterhouse College

ECONOMICS 222: THE INDUSTRIAL REVOLUTION IN BRITAIN (3 CREDITS)
The development of the British economy during the Industrial Revolution is studied with particular emphasis on the wool, cotton textile, iron, pottery, shipping, and coal mining industries as well as on urban development in London. Site visits to locations of significance are an important aspect of this course.
Instructor: Professor Nathan D. Grawe

ECONOMICS 223: THE GREAT ECONOMISTS OF CAMBRIDGE (4 CREDITS) S/CR/NC
Students examine excerpts from the writings of great economic thinkers associated with Cambridge. Class discussion will emphasize the works of Marshall, Keynes, and Hayek.
Instructor: Professor Nathan D. Grawe

ECONOMICS 224: ECONOMICS OF INEQUALITY IN BRITAIN (3 CREDITS)
In this course students will be introduced to the economics of the inequality. Special emphasis will be placed on theories of economic inequality within and across generations. Topics covered include the trade-off between quantity and quality of children, intergenerational mobility, wage/price controls, and hours reductions policies (like mandatory overtime legislation). In each case, students will study empirical applications using British data.
Instructor: Professor Nathan Grawe

HOUSING AND FACILITIES (tentative)
Students will spend their first two weeks in Cambridge living in two Guest Houses (located near each other) within walking distance of the University, downtown, and the train station. Once Cambridge University students have cleared their rooms; Carleton students will move to single rooms in University housing. Students are given a food allowance for meals, which may be taken at the University or in town. University facilities, including library and snack bar, are available to the students.

SCHEDULE (tentative)
Classes will be held on two or three mornings per week (usually Mondays and Thursdays with an occasional Tuesday or Wednesday). The Economics 224 seminar will usually be held during a weekday evening. Excursions will usually take place on Tuesdays and Wednesdays (but typically not both in the same week). Students will have the opportunity for individual travel on weekends, most of which will include Friday. The trip to the Midlands takes place during the third week in July, followed by a short break.

EXCURSIONS
In addition to the trip to the Midlands to see sites associated with the Industrial Revolution, students will take several trips to London. Some will be opportunities to better understand the contemporary British economy, including visits to organizations operating in London’s important financial markets. Other trips will be cultural. Outside London, students may travel to Greenwich to visit the British Maritime Museum, Stratford-on-Avon to see a Shakespearean production, Coventry to visit a Jaguar production plant, Stonehenge, and many sites in beautiful East Anglia.

REQUIRED LEAVE OF ABSENCE
The 2004 Cambridge seminar functions as a Carleton term of the academic year. Participants are required to take a leave of absence winter term 2005.

For further information, see the Cambridge website: