Courses

Fall 2016

  • ECON 110: Principles of Macroeconomics

    This course gives students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 111, as a preparation for all advanced study in economics. Topics include analysis of the measurement, level, and distribution of national income; the concepts of inflation and depression; the role and structure of the banking system; fiscal and monetary stabilization techniques; implications of and limits to economic growth; and international economic relations. 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Winter 2017, Spring 2017 · B. Dalgaard, S. Fried, T. Bauer, B. Keefer
  • ECON 111: Principles of Microeconomics

    This course gives the students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 110, as a preparation for all advanced study in economics. Topics include consumer choice theory; the formation of prices under competition, monopoly, and other market structures; the determination of wages, profits, and income from capital; the distribution of income; and an analysis of policy directed towards problems of public finance, pollution, natural resources, and public goods. 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Winter 2017, Spring 2017 · F. Bhuiyan, J. Lafky, A. Swoboda, S. Auerbach
  • ECON 232: American Economic History: A Cliometric Approach

    An introduction to the growth of the American economy from colonial times to the present with emphasis on the nineteenth century. Topics include technical change, the choice of production technology, income distribution, demographic transition, factor markets, and the role of institutions. Debates in economic history such as the economic viability of antebellum slavery, the integration of capital markets, the role of railroads in the growth process, and the economic impact of the New Deal are evaluated with an emphasis on empirical evidence. May be counted toward the History major. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Writing Requirement, Quantitative Reasoning Encounter, Intercultural Domestic Studies; offered Fall 2016 · J. Bourne
  • ECON 240: Microeconomics of Development

    This course explores household behavior in developing countries. We will cover areas including fertility decisions, health and mortality, investment in education, the intra-household allocation of resources, household structure, and the marriage market. We will also look at the characteristics of land, labor, and credit markets, particularly technology adoption; land tenure and tenancy arrangements; the role of agrarian institutions in the development process; and the impacts of alternative politics and strategies in developing countries. The course complements Economics 241. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter, International Studies; offered Fall 2016 · F. Bhuiyan
  • ECON 241: Growth and Development

    Why are some countries rich and others poor? What causes countries to grow? This course develops a general framework of economic growth and development to analyze these questions. We will document the empirical differences in growth and development across countries and study some of the theories developed to explain these differences. This course complements Economics 240. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016 · S. Fried
  • ECON 270: Economics of the Public Sector

    This course provides a theoretical and empirical examination of the government's role in the U.S. economy. Emphasis is placed on policy analysis using the criteria of efficiency and equity. Topics include rationales for government intervention; analysis of alternative public expenditure programs from a partial and/or general equilibrium framework; the incidence of various types of taxes; models of collective choice; cost-benefit analysis; intergovernmental fiscal relations. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Spring 2017 · T. Bauer, J. Bourne
  • ECON 278: Industrial Organization and Firm Behavior

    This course analyzes the firm's marketing and pricing problems, its conduct, and the resulting economic performance, given the nature of the demand for its products, its buying markets, the nature of its unit costs, and the structure of its selling markets. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Spring 2017 · S. Auerbach
  • ECON 283: Corporate Organization and Finance

    This course investigates decision-making by firms and their managers. Specific topics include tradeoffs in corporate organization, executive compensation, project valuation, the cost of capital under debt and equity financing, and the firm’s optimal capital structure. 

    Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016 · B. Keefer
  • ECON 329: Econometrics

    This course is an introduction to the statistical methods used by economists to test hypotheses and to study and quantify economic relationships. The course emphasizes both statistical theory and practical application through analysis of economic data sets using statistical software. Topics include two-variable and multiple regression, interval estimation and hypothesis testing, discrete and continuous structural change, parameter restrictions, model construction, heteroscedasticity, autocorrelation, and multicollinearity. Prerequisites: Mathematics 111 and either Mathematics 215 or 275, and Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Spring 2017 · M. Kanazawa
  • ECON 330: Intermediate Price Theory

    An analysis of the forces determining relative prices within the framework of production and distribution. This class is normally taken by juniors. Sophomores considering enrolling should speak to the instructor. Prerequisites: Economics 110 and 111 and Mathematics 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Winter 2017 · N. Grawe
  • ECON 395: Advanced Topics in Economics of Sports

    In this topics-based seminar, we explore the economics and business of professional sports, mostly (but by no means necessarily entirely) in the United States. We will examine a variety of topics, including the institutions that govern pro sports and its main interested parties, especially owners, professional athletes, fans, media, and local municipalities. To better understand these institutions, we apply models from various traditional fields in economics including industrial organization, labor economics, public finance, and behavioral economics. The ultimate objective is to achieve an advanced understanding of the sports industry, and to understand how economists use economic models to develop hypotheses testable with sports data.

    Prerequisites: Economics 330, 331, and concurrent or previous enrollment in Economics 329 6 credit; Formal or Statistical Reasoning, Writing Requirement, Quantitative Reasoning Encounter; offered Fall 2016 · M. Kanazawa
  • ECON 395: Advanced Topics in Macro Time Series

    This course will introduce students to vector autoregression (VAR) techniques to analyze macroeconomic time-series data. Possible applications of VAR analysis include  (but are not limited to): the time series dynamics of GDP, interest rates, carbon emissions, and energy prices.

    Prerequisites: Economics 330, 331 and concurrent or previous enrollment in Economics 329 6 credit; Social Inquiry, Writing Requirement, Quantitative Reasoning Encounter; offered Fall 2016 · S. Fried
  • ECON 395: Advanced Topics in the Economics of Housing

    This seminar-style course focuses on the empirical analysis of topics in housing economics. Specific areas of study depend on student interest, but may include: determinants of housing supply and demand, hedonic analysis, land use regulation, rent control, spatial segregation, housing policy, housing as an investment, and the recent subprime mortgage crisis. Class time is primarily devoted to student-led presentation and discussion of peer-reviewed journal articles.

    Prerequisites: Economics 330, 331, and concurrent or previous enrollment in Economics 329 6 credit; Social Inquiry, Writing Requirement, Quantitative Reasoning Encounter; offered Fall 2016 · A. Swoboda
  • ECON 400: Integrative Exercise

    6 credit; S/NC; offered Fall 2016, Winter 2017, Spring 2017 · N. Grawe, M. Kanazawa, S. Fried, A. Swoboda

Winter 2017

  • ECON 110: Principles of Macroeconomics

    This course gives students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 111, as a preparation for all advanced study in economics. Topics include analysis of the measurement, level, and distribution of national income; the concepts of inflation and depression; the role and structure of the banking system; fiscal and monetary stabilization techniques; implications of and limits to economic growth; and international economic relations. 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Winter 2017, Spring 2017 · B. Dalgaard, S. Fried, T. Bauer, B. Keefer
  • ECON 111: Principles of Microeconomics

    This course gives the students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 110, as a preparation for all advanced study in economics. Topics include consumer choice theory; the formation of prices under competition, monopoly, and other market structures; the determination of wages, profits, and income from capital; the distribution of income; and an analysis of policy directed towards problems of public finance, pollution, natural resources, and public goods. 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Winter 2017, Spring 2017 · F. Bhuiyan, J. Lafky, A. Swoboda, S. Auerbach
  • ECON 267: Behavioral Economics

    This course introduces experimental economics and behavioral economics as two complementary approaches to understanding economic decision making. We will study the use of controlled experiments to test and critique economic theories, as well as how these theories can be improved by introducing psychologically plausible assumptions to our models. We will read a broad survey of experimental and behavioral results, including risk and time preferences, prospect theory, other-regarding preferences, the design of laboratory and field experiments, and biases in decision making.

    Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2017 · J. Lafky
  • ECON 269: Economics of Climate Change

    This course studies economic models of climate change and their implications for policy design. Covered topics include: the relationship between climate change and the macroeconomy, the performance of different climate policy instruments such as carbon taxes and cap and trade systems, the potential effects of innovation, and the economics surrounding the use of different types of energy. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2017 · S. Fried
  • ECON 271: Economics of Natural Resources and the Environment

    This course focuses on environmental economics, energy economics, and the relationship between them. Economic incentives for pollution abatement, the industrial organization of energy production, optimal depletion rates of energy sources, and the environmental and economic consequences of alternate energy sources are analyzed. Prerequisites: Economics 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2017 · A. Swoboda
  • ECON 274: Labor Economics

    Why do some people choose to work and others do not? Why are some people paid higher wages than others? What are the economic benefits of education for the individual and for society? How do government policies, such as subsidized child care, the Earned Income Tax Credit and the income tax influence whether people work and the number of hours they choose to work? These are some of the questions examined in labor economics. This course will focus on the labor supply and human capital decisions of individuals and households. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2017 · F. Bhuiyan
  • ECON 276: Money and Banking

    This course examines the role of money and monetary institutions in determination of income, employment, and prices in the domestic and world economies. It also examines the role of commercial banking and financial markets in a market-based economy. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2017 · B. Dalgaard
  • ECON 280: International Trade

    A study of international trade theories and their policy implications. Classical and neo-classical trade models, the gains from trade, the terms of trade and the distribution of income, world trade patterns, international factor movements, tariffs, and the impact of commercial policy on developing and developed countries are analyzed. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2017 · T. Bauer
  • ECON 282: The Theory of Investment Finance

    The main objective of this course is to investigate various aspects of modern portfolio theory and develop basic techniques for applying this theoretical framework to real-world data. Topics covered include portfolio and asset pricing theories, and derivatives with the primary focus on option pricing. The class will develop and actively use univariate calculus for theory-building and statistical techniques for data analysis.

    Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2017 · B. Keefer
  • ECON 330: Intermediate Price Theory

    An analysis of the forces determining relative prices within the framework of production and distribution. This class is normally taken by juniors. Sophomores considering enrolling should speak to the instructor. Prerequisites: Economics 110 and 111 and Mathematics 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Winter 2017 · N. Grawe
  • ECON 331: Intermediate Macro Theory

    Analysis of the forces determining the general level of output, employment, and prices with special emphasis on the role of money and on interest rate determination. This class is normally taken by juniors. Sophomores considering enrolling should speak to the instructor. Prerequisites: Mathematics 111 and Mathematics 215 (or Mathematics 275 or permission of the instructor) and Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2017, Spring 2017 · B. Keefer
  • ECON 400: Integrative Exercise

    6 credit; S/NC; offered Fall 2016, Winter 2017, Spring 2017 · N. Grawe, M. Kanazawa, S. Fried, A. Swoboda

Spring 2017

  • ECON 110: Principles of Macroeconomics

    This course gives students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 111, as a preparation for all advanced study in economics. Topics include analysis of the measurement, level, and distribution of national income; the concepts of inflation and depression; the role and structure of the banking system; fiscal and monetary stabilization techniques; implications of and limits to economic growth; and international economic relations. 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Winter 2017, Spring 2017 · B. Dalgaard, S. Fried, T. Bauer, B. Keefer
  • ECON 111: Principles of Microeconomics

    This course gives the students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 110, as a preparation for all advanced study in economics. Topics include consumer choice theory; the formation of prices under competition, monopoly, and other market structures; the determination of wages, profits, and income from capital; the distribution of income; and an analysis of policy directed towards problems of public finance, pollution, natural resources, and public goods. 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Winter 2017, Spring 2017 · F. Bhuiyan, J. Lafky, A. Swoboda, S. Auerbach
  • ECON 246: Economics of Welfare

    This course presents economic theory on how society as a whole ranks and chooses between different alternatives. It delves into the realm of normative economics analyzing objectives society may want to pursue, mechanisms designed to reach those objectives, and the resulting welfare of individuals affected by the choices made. The theoretical tools discussed will be used to study different mechanisms of voting, redistributing income, government intervention, auctions, and trade. Among other things, students will be exposed to the Pareto criterion, Arrow's impossibility theorem, the Vickery-Clarke-Grove mechanism, the Coase theorem, utilitarianism, Rawlsian ethics, and welfare theorems. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter, International Studies; offered Spring 2017 · F. Bhuiyan
  • ECON 259: Economics of Higher Education

    This course examines current issues in higher education through the lens of both theoretical and empirical economics. Students will be exposed to both signaling models of higher education and empirical analyses of its returns. We will also discuss admissions as a matching process, rising tuition as a form of price discrimination, and the globalization of higher education, among other topics.

    Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Writing Requirement; offered Spring 2017 · S. Auerbach
  • ECON 262: The Economics of Sports

    In recent years, the sports business in the United States has grown into a multibillion-dollar industry. Understanding the sports business from an economic viewpoint is the subject of this course. Topics will include player compensation, revenue-sharing, salary caps, free agency, tournaments, salary discrimination, professional franchise valuation, league competitiveness, college athletics, and the economics of sports stadiums and arenas. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Spring 2017 · M. Kanazawa
  • ECON 263: Entrepreneurship, Innovation, and Economic Performance

    Joseph Schumpeter, in lamenting the absence of an accepted theory of entrepreneurship, observed that this gap in economics is much like having Hamlet performed with the Prince of Denmark absent. Much has changed since Schumpeter leveled this criticism. Economics has embraced the contributions of entrepreneurs and provided theoretical models explaining their actions. This course explores the foundations of a microeconomic theory of entrepreneurship, investigating the role of entrepreneurs (and intrapreneurs within large organizations) as agents for change. Case studies of business development provide practical illustrations of ways in which entrepreneurs operate and how their efforts contribute to economic progress. Prerequisites: Economics 111 6 credit; Social Inquiry; offered Spring 2017 · B. Dalgaard
  • ECON 265: Game Theory and Economic Applications

    Game theory is the study of purposeful behavior in strategic situations. It serves as a framework for analysis that can be applied to everyday decisions, such as working with a study group and cleaning your room, as well as to a variety of economic issues, including contract negotiations and firms' output decisions. In this class, modern game theoretic tools will be primarily applied to economic situations, but we will also draw on examples from other realms. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Spring 2017 · J. Lafky
  • ECON 270: Economics of the Public Sector

    This course provides a theoretical and empirical examination of the government's role in the U.S. economy. Emphasis is placed on policy analysis using the criteria of efficiency and equity. Topics include rationales for government intervention; analysis of alternative public expenditure programs from a partial and/or general equilibrium framework; the incidence of various types of taxes; models of collective choice; cost-benefit analysis; intergovernmental fiscal relations. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Spring 2017 · T. Bauer, J. Bourne
  • ECON 278: Industrial Organization and Firm Behavior

    This course analyzes the firm's marketing and pricing problems, its conduct, and the resulting economic performance, given the nature of the demand for its products, its buying markets, the nature of its unit costs, and the structure of its selling markets. Prerequisites: Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Spring 2017 · S. Auerbach
  • ECON 329: Econometrics

    This course is an introduction to the statistical methods used by economists to test hypotheses and to study and quantify economic relationships. The course emphasizes both statistical theory and practical application through analysis of economic data sets using statistical software. Topics include two-variable and multiple regression, interval estimation and hypothesis testing, discrete and continuous structural change, parameter restrictions, model construction, heteroscedasticity, autocorrelation, and multicollinearity. Prerequisites: Mathematics 111 and either Mathematics 215 or 275, and Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2016, Spring 2017 · M. Kanazawa
  • ECON 331: Intermediate Macro Theory

    Analysis of the forces determining the general level of output, employment, and prices with special emphasis on the role of money and on interest rate determination. This class is normally taken by juniors. Sophomores considering enrolling should speak to the instructor. Prerequisites: Mathematics 111 and Mathematics 215 (or Mathematics 275 or permission of the instructor) and Economics 110 and 111 6 credit; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2017, Spring 2017 · B. Keefer
  • ECON 400: Integrative Exercise

    6 credit; S/NC; offered Fall 2016, Winter 2017, Spring 2017 · N. Grawe, M. Kanazawa, S. Fried, A. Swoboda