Principles of Economics

Professor: Youssef Ait Benasser  

Course Number: ECON 100 B

CRN Number: 10183

Class cap: 22

Credits: 4

Schedule/Location:

Mon  Wed   11:50 AM - 1:10 PM Hegeman 308

Distributional Area:

SA  Social Analysis   

Crosslists: Economics & Finance; Global & International Studies

This course is a one-semester introduction to the essential ideas of economic analysis. The microeconomics component of the course develops the basic model of consumer and firm behavior, including demand and supply, in the context of an idealized competitive market and examines several ways in which the real world deviates from this model—including monopoly and other forms of imperfect competition; information problems; minimum wages and other price controls; taxes; and government regulation. The macroeconomics component studies the aggregate behavior of modern economies - the factors leading to economic growth, explanations of booms and recessions, unemployment, interest rates, inflation, and budget deficits or surpluses – and the government’s ability (or inability) to use monetary and fiscal policies to achieve economic goals such as full employment and price stability. This course replaces the two-semester introductory microeconomics and macroeconomics sequence and is the foundational course in the economics curriculum. Prerequisite: passing score on Part I of the Math Placement.

Principles of Economics

Professor: Michael Martell  

Course Number: ECON 100 C

CRN Number: 10184

Class cap: 22

Credits: 4

Schedule/Location:

Mon  Wed     3:30 PM - 4:50 PM Olin 203

Distributional Area:

SA  Social Analysis   

Crosslists: Economics & Finance; Global & International Studies

This course is a one-semester introduction to the essential ideas of economic analysis. The microeconomics component of the course develops the basic model of consumer and firm behavior, including demand and supply, in the context of an idealized competitive market and examines several ways in which the real world deviates from this model—including monopoly and other forms of imperfect competition; information problems; minimum wages and other price controls; taxes; and government regulation. The macroeconomics component studies the aggregate behavior of modern economies - the factors leading to economic growth, explanations of booms and recessions, unemployment, interest rates, inflation, and budget deficits or surpluses – and the government’s ability (or inability) to use monetary and fiscal policies to achieve economic goals such as full employment and price stability. This course replaces the two-semester introductory microeconomics and macroeconomics sequence and is the foundational course in the economics curriculum. Prerequisite: passing score on Part I of the Math Placement.

Principles of Economics

Professor: Oleksandr Valchyshen  

Course Number: ECON 100 D

CRN Number: 10647

Class cap: 22

Credits: 4

Schedule/Location:

Mon  Wed     11:50 AM - 1:10 PM  Reem Kayden Center 101

Distributional Area:

SA  Social Analysis   

Crosslists: Economics & Finance; Global & International Studies

This course is a one-semester introduction to the essential ideas of economic analysis. The microeconomics component of the course develops the basic model of consumer and firm behavior, including demand and supply, in the context of an idealized competitive market and examines several ways in which the real world deviates from this model—including monopoly and other forms of imperfect competition; information problems; minimum wages and other price controls; taxes; and government regulation. The macroeconomics component studies the aggregate behavior of modern economies - the factors leading to economic growth, explanations of booms and recessions, unemployment, interest rates, inflation, and budget deficits or surpluses – and the government’s ability (or inability) to use monetary and fiscal policies to achieve economic goals such as full employment and price stability. This course replaces the two-semester introductory microeconomics and macroeconomics sequence and is the foundational course in the economics curriculum. Prerequisite: passing score on Part I of the Math Placement.

Money and Banking

Professor: Kyle Mohr  

Course Number: ECON 200

CRN Number: 10679

Class cap: 22

Credits: 4

Schedule/Location:

 Tue  Thurs    5:10 PM - 6:30 PM Hegeman 204

Distributional Area:

SA  Social Analysis   

Crosslists: Economics & Finance; Global & International Studies

Cross-listed: Economics & Finance; Global & International Studies  An examination of the role of money and financial intermediaries in determining aggregate economic activity. Interactions of savers, investors, and regulatory authorities in domestic and international capital markets are analyzed, and the linkage between the financial system and the real economy traced. The functions of central banks, commercial banks, securities dealers, investment banks, and other intermediaries are covered in detail. The debate over the goals, tools, indicators, and effectiveness of monetary policy is considered in the light of current national and international economic problems. Prerequisite:  ECON 100 or ECON 102.

Game Theory

Professor: Aniruddha Mitra  

Course Number: ECON 203

CRN Number: 10185

Class cap: 22

Credits: 4

Schedule/Location:

Mon  Wed     11:50 AM - 1:10 PM Hegeman 204

Distributional Area:

MC  Mathematics and Computing   

Crosslists: Economics & Finance; Environmental & Urban Studies; Global & International Studies; Politics

Game Theory is the study of how rational actors behave when they know that their actions hold consequences not just for themselves but for others as well and they are, in turn, affected by the actions taken by others. While the discipline has come to be regarded as a core area of economics, its applicability extends far beyond the analysis of economic behavior. The object of this course is to introduce you to the basics of game theory, emphasizing its generality as an analytical paradigm for social science. We shall, therefore, focus on a wide variety of applications taken from economics, political science, and the study of the environment. Prerequisite: MATH 110, Precalculus Mathematics, or a passing grade on Part II of the Math Placement.

Asian Economies: A Comparative History

Professor: Sanjay DeSilva  

Course Number: ECON 218

CRN Number: 10187

Class cap: 22

Credits: 4

Schedule/Location:

 Tue  Thurs    5:10 PM - 6:30 PM Hegeman 102

Distributional Area:

HA  Historical Analysis   

Crosslists: Asian Studies; Global & International Studies

This course surveys the historical events and circumstances that have shaped the economic landscape of modern Asia. We begin in the nineteenth century when European contact had initiated a process of dramatic change throughout the continent; Japan began a process of unprecedented modernization, China confronted a series of internal conflicts and external threats, and much of the rest of the continent was absorbed directly into the colonial economy. We then compare the trajectories of economic change during the twentieth century. Particular attention is paid to the various economic models pursued in the region, including the colonial export economy of Southeast Asia, export-oriented industrialization in Japan, South Korea and Southeast Asia, import-substituting industrialization in India, and the communist economy of Mao’s China and mainland Southeast Asia. The regions covered are East Asia, Southeast Asia and South Asia. Prerequisite: Econ 100 or prior coursework in Asian Studies.

The Right to Employment

Professor: Kyle Mohr  

Course Number: ECON 227

CRN Number: 10678

Class cap: 22

Credits: 4

Schedule/Location:

 Tue  Thurs    11:50 AM - 1:10 PM Hegeman 204

Distributional Area:

HA  Historical Analysis  D+J Difference and Justice

Crosslists: Africana Studies; American & Indigenous Studies; Environmental & Urban Studies; Environmental Studies; Human Rights; Sociology

In 1944, President Franklin Delano Roosevelt warned, “People who are hungry and out of a job are the stuff of which dictatorships are made.” Today, the COVID-19 crisis and mass unemployment have once again exposed the pervasive pathologies in the economy, such as inequality, poverty, and discrimination that reproduce systemic racial, gender and environmental injustice. Roosevelt responded to the economic calamity of his time—the Great Depression—with far-reaching economic policies and an appeal for what he called a Second (Economic) Bill of Rights that led with the right to decent and remunerative employment. "Jobs for All" was a signature demand during the Civil Rights era, when Martin Luther King, Jr. and Coretta Scott King insisted that unemployment is a key force for racial subjugation. Today, the Job Guarantee has been called perhaps the most crucial component of the Green New Deal Resolution, a program that ensures a just transition for all workers and an antidote to systemic racial and gender discrimination that emerges from labor markets.  This interdisciplinary course traces the history of the struggle to secure the right to employment for  all. It will focus on the economic, legal, and policy developments in the United States, and will introduce students to some international policy initiatives and innovative programs. A key question for discussion is whether these proposals and concrete policies have advanced the goal of equity and economic justice. Students will read legislative documents, economic analyses, policy proposals, and program reviews.  This course is part of the Racial Justice Initiative, an interdisciplinary collaboration among students and faculty to further the understanding of racial inequality and injustice in the United States and beyond.

Environmental Economics

Professor: Gautam Sethi  

Course Number: ECON 242

CRN Number: 10189

Class cap: 22

Credits: 4

Schedule/Location:

 Tue  Thurs    3:30 PM - 4:50 PM Hegeman 308

Distributional Area:

SA  Social Analysis   

Crosslists: Environmental Studies; Environmental & Urban Studies

Humanity is facing several challenges at the moment. For example, given the existential threat of climate change, what combination of mitigation, adaptation, and retreat should we adopt? How do we ensure that the transition to green energy will be just, both across space and time? How do we sustainably manage the commons? Is environmental conservation antithetical to improving livelihoods, or could sustainability go hand in hand in reducing poverty? Does participation in labeling programs such as Fair Trade improve small farmer livelihoods? While economists agree that free markets are inherently incapable of bringing about efficient and equitable outcomes, there is significant disagreement among various scholars around the appropriate role of the market, the state, and civil society in the policy space. This course will foster discussion about the roles of these institutions in helping communities create meaningful solutions to the challenges we collectively face.

International Macroeconomics

Professor: Youssef Ait Benasser  

Course Number: ECON 246

CRN Number: 10190

Class cap: 22

Credits: 4

Schedule/Location:

Mon  Wed     10:10 AM - 11:30 AM Olin 203

Distributional Area:

SA  Social Analysis   

Crosslists: Global & International Studies

What are the local economic implications of international economic connectedness? This course provides analytical frameworks for understanding financial flows between countries and their impacts. We will see how macroeconomic variables such as the exchange rate, interest rate, inflation, and income are jointly determined by the international linkages arising from capital & trade flows. We will also look at the political economy and governance of the international financial system. At the end of this class you will be able to understand how international financial transactions and policies affect national economic outcomes.

Migration and Development

Professor: Nurgul Ukueva  

Course Number: ECON 256

CRN Number: 10686

Class cap: 22

Credits: 4

Schedule/Location:

 Tue  Thurs    11:50 AM - 1:10 PM Olin 107

Distributional Area:

SA  Social Analysis   

Crosslists: Global & International Studies

With more than 184 million people, including 37 million refugees living outside their country of origin, migration is one of the highly debated issues of today. This course aims at introducing students to the key facts and trends, theories and empirical regularities of international migration. Why do people migrate? What are the social and economic consequences of migration on countries and families left behind? Is there a brain drain or brain gain and what are the implications of migration of highly skilled workers? What is the role of migrant remittances? What challenges researchers face in measuring and identifying impact of migration and how to address them? We will study migration within the context of conflicts and forced displacement, climate change, aging population, from both origin and destination country angles.

Developing Cities

Professor: Sanjay DeSilva  

Course Number: ECON 319

CRN Number: 10327

Class cap: 15

Credits: 4

Schedule/Location:

  Wed     3:30 PM - 5:50 PM Hegeman 102

Distributional Area:

SA  Social Analysis   

Crosslists: Environmental & Urban Studies; Global & International Studies

Economic theorists and policymakers have long worked under the assumption that developed economies are urban and industrial while developing economies are rural and agricultural. This historical dichotomy is no longer meaningful. Today, a majority of the world’s people live in urban areas, not just in the West but also in the developing regions of Latin America and the Caribbean, Europe and Central Asia, East Asia and the Pacific, and Middle East and North Africa. Almost all of the world’s future urban growth will occur in developing economies, and much of this growth will be concentrated in mega-cities; already, of the 27 urban areas that have more than 10 million people, 22 are in developing economies. This dramatic urbanization of the developing world offers tremendous opportunities and poses difficult challenges. This research seminar will introduce upper college students to the economics literature on important urban issues: for example, causes of urban growth; spatial patterns of growth; rural-urban migration; industrial and post-industrial cities; urban inequality; informality, property rights and political representation; infrastructure and urban renewal; congestion, pollution and other environmental problems. The seminar will be organized around student-led independent and group research on these themes. Prerequisites: Moderation in economics or EUS and prior coursework in economics, or permission of instructor.

Queer Economics

Professor: Michael Martell  

Course Number: ECON 359

CRN Number: 10326

Class cap: 16

Credits: 4

Schedule/Location:

  Wed     9:10 AM - 11:30 AM Olin 304

Distributional Area:

SA  Social Analysis  D+J Difference and Justice

Crosslists: Gender and Sexuality Studies

This seminar traces and interrogates the past, present, and future of the development of queer economics – with particular attention to the possible epistemological and social impacts of the economics discipline becoming more queer and LGBTQ+ inclusive.  The course will include three somewhat overlapping modules.  First, we will study how LGBTQ+ individuals experience the economy. We will also investigate the extent to which hierarchy in the discipline has led to a pattern of production – and regulation – of economic knowledge that is heteronormative.  We will also engage with criticisms of this bias from queer political economists (of which there are but few).  By interrogating hierarchy, and the structures that reproduce it, students will also develop mechanisms and suggestions for interventions to promote greater inclusion throughout the ranks of the academy. Topics and readings will cover  the current state, and historical origins of, the economics profession being less diverse (demographically and methodologically) than its similar social sciences;  the relationship between hierarchy within economics to its culture, climate, and queer representation; the relationship between representation and scholarship; the history of the engagement of economists with queer issues and the queer community; and the current state of queer economics knowledge and methodologies. Prerequisites:  Econ 100 and Economic Perspectives or Economic Thought or Instructor Approval.

Corporate Finance

Professor: Oleksandr Valchyshen  

Course Number: ECON 391

CRN Number: 10648

Class cap: 22

Credits: 4

Schedule/Location:

Mon  Wed     8:30 AM - 9:50 AM Hegeman 102

Distributional Area:

SA  Social Analysis   

Crosslists: Economics & Finance

Capital is a scarce resource. Access to capital and its efficient use are critical to business success. This course discusses how capital can be raised and allocated within corporations to the advantage of corporate shareholders. Topics include: allocation of capital for investments, measurement of the opportunity cost of capital, capital structure, cash-distribution policy, corporate restructuring, and long-term financing. At the end of course, you will know how to value a company. On the way the topics we shall cover those that are important to all managers whether or not they specialize in finance: (1) procedures for analyzing companies’ financial data to determine how efficiently they have been run; (2) methods for projecting funding needs based on principles of good working capital management; (3) rules for choosing the maximal safe, or optimal, level of debt in the structure of capital used for funding company operations; (4) figuring the costs of the various types of funds that a company uses and its weighted average cost of capital; and (5) combining all the foregoing into a methodology, to wit, discounting free cash flows and adding salvage value, for establishing a company’s value or price.

Accounting

Course Number: FIN 190

CRN Number: 10320

Class cap: 22

Credits: 4

Professor:

Jennifer Brown

Schedule/Location:

Mon  Wed     1:30 PM - 2:50 PM Olin 202

Distributional Area:

MC  Mathematics and Computing   

Crosslists:

Economics