18391

FIN 190

 Accounting

Felipe Carvalho de Rezende

 T  Th 1:30 pm-2:50 pm

LEVY

 

 

This course surveys financial and managerial accounting. The concepts and methods of financial accounting following generally accepted accounting principles and the effects of alternative principles on the measurement of periodic income and financial status are covered. Recent changes in accounting methods such as those stimulated by manufacturing advances are examined, as are concerns about ethical standards. This is a required course in the Economics and Finance Program and is a prerequisite for Econ 391, Corporate Finance.   Class size: 22

 

18378

ECON 100 A

 Principles of Economics

Kris Feder

M  W  1:30 pm-2:50 pm

HEG 204

SA

SSCI

Cross-listed: Economics & Finance; Global & International Studies  Related interest: Environmental & Urban 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 Mathematics Diagnostic.  Class size: 22

 

18379

ECON 100 B

 Principles of Economics

Liudmila Malyshava

M  W  3:10 pm-4:30 pm

HEG 106

SA

SSCI

See above. Class size: 22

 

18380

ECON 100 C

 Principles of Economics

Michael Martell

 T  Th 11:50 am-1:10 pm

HEG 106

SA

SSCI

See above.  Class size: 22

 

18381

ECON 200

 Money and Banking

Pavlina Tcherneva

  W  F  10:10 am-11:30 am

ALBEE 106

SA

SSCI

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.  Class size: 22

 

18383

ECON 201

 Intermediate Microeconomics

Kris Feder

M  W  10:10 am-11:30 am

HEG 308

SA

SSCI

Cross-listed: Economics & Finance  Microeconomics is the study of how individual economic units (households and firms) interact to determine outcomes (allocation of goods and services) in a market setting. In this course, we attempt to achieve the following three objectives: (1) Understand all the concepts covered in Introduction to Microeconomics in terms of mathematics; (2) Study advanced topics such as choice under uncertainty and information asymmetry that have traditionally relied on mathematics for illustration of ideas; and (3) Learn how to use mathematics to conduct in-depth economic analysis. In order to meet the last objective, we will devote most of the weekly "lab" sessions toward problem solving. During the lab sessions, students are expected to take turns explaining how to solve a particular problem to the rest of the class. A firm grasp of the materials covered in this course is essential to reading economics journal articles and pursuing advanced studies in economics.   Prerequisites: Calculus I and ECON 100.  Class size: 22

 

18384

ECON 202

 Intermediate Macroeconomics

L.Randall Wray

M  W  3:10 pm-4:30 pm

LEVY

SA

SSCI

Cross-listed: Global & International Studies; Related interest: Environmental & Urban Studies   This course is the continuation of the introductory macroeconomics course. In it, students will get acquainted with main models that macroeconomists use to analyze the way economies behave. The course starts by looking at the models that explain long run economic growth. We then focus our attention on investigating economic theories that explain short run business cycles, the periods of recessions and booms that occur on a regular basis. An important part of the course is to investigate the role of governments in affecting the long run and short run economic prospects of their countries. We apply the acquired theoretical knowledge to a range of current economic issues, including budget deficits and national debt, international trade, and the role of institutions.  Prerequisite: either ECON 100, or the combination ECON 101 / ECON 102, MATH 110.   Class size: 22

 

18385

ECON 203

 Game Theory

Aniruddha Mitra

 T  Th 10:10 am-11:30 am

ALBEE 106

MC

MATC

Cross-listed: Economics & Finance; Environmental & Urban Studies; Global & International Studies; Political Studies 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 Test. Class size: 22

 

18866

ECON 213

 ECONOMIC TRANSITION FROM SOCIALISM TO A MARKET-BASED SYSTEM

Liudmila Malyshava

M W    11:50 am-1:10 pm

OLIN 301

HA

HIST

Cross-listed: Global & International Studies, Russian and Eurasian Studies  This course explores one of the major events in the economic history of the 20th century: the collapse of the socialist system in the countries of the former Soviet Union, and Central and Eastern Europe, and their transition to market   based economies. We will start the course by investigating the causes of the collapse of the socialist system. We will then identify similarities and differences in the economic environments of the countries in this seemingly homogeneous group. Important objectives of this course are to analyze economic challenges associated with the transition process and to investigate policy tools that these countries have used to address these challenges. To achieve these objectives, we will study a range of topics, which include privatization, price liberalization, inflation, unemployment, changes in the composition of output, national debt and budget deficits, informal economy, and the fight against corruption, among other topics. An important emphasis will be placed on the impact of the economic transformation on social indicators such as income distribution, poverty, education, and health.  This course satisfies the economic history requirement for the economics major.  Prerequisite: One Economics course, or permission of the instructor. Class size: 20

 

18382

ECON 225

 Economic Perspectives

Pavlina Tcherneva

  W  F  11:50 am-1:10 pm

ALBEE 106

SA

SSCI

Why do economists disagree? As economic systems evolve, so have the theories used to explain them. Since Adam Smith, economists have used different assumptions, models and methodologies to study the role of markets, states, and institutions in the process of social provisioning. This course will survey the diverse traditions in economics and introduce students to competing paradigms. It covers several distinct approaches including Classical Political Economy, Neoclassical, Institutionalist, Post Keynesian, Marxist, Feminist, Development and Green Economics. The objective is to gain a broad appreciation of the specific problems that each of these traditions emphasizes and the contributions to theory and policy each has made. Students will examine not only the evolution of ideas and theories, but also their practical application today. Some of the specific issues that the course will consider include the causes and cures for unemployment, the evolution and interaction of culture, technology and the environment, and the role and nature of money in shaping the modern world. As we contemplate modern economic problems, sometimes the good old ideas produce the best new ideas. Prerequisite: Econ 100. Class size: 22

 

18387

ECON 229

 Introduction to Econometrics

Sanjaya DeSilva

M  W  1:30 pm-2:50 pm

ALBEE 106

MC

MATC

Cross-listed: Economics & Finance; Environmental & Urban Studies; Global & International Studies  This is the first of a two-course sequence designed to explore the tools economists use to summarize and interpret data. The first half of the course introduces the concepts of random variables, probability distributions, sampling, descriptive statistics and statistical inference. The second half of the course focuses on simple and multiple regression analysis. The emphasis is on acquiring a practical knowledge of econometric methods (theoretical foundations and advanced techniques are covered in Econ 329); students will learn how to organize and analyze data using Excel and STATA, how to read and interpret published empirical research, and how to carry out an empirical research project. This course fulfills the statistical methods requirement for the economics major. Prerequisite: Economics 100 and Pre-calculus.  Class size: 18

 

18880

ECON 237

 ECONOMICS OF THE PUBLIC SECTOR

TBA

 T  Th 11:50 am-1:10 pm

HEGEMAN 308

SA

SSCI

Cross-listed:  Environmental & Urban Studies  This course focuses on the role of the government in the economy and covers four general areas: government revenue, government expenditure, regulation, and public choice. Applying a variety of methodologies, students will learn to creatively and critically analyze public policy. We will frame policy and its implications in terms of social relations and seek to explain how these policies impact the processes which provide the flow of goods and services enabling society to meet the needs of its members. Topics will include many current policy issues including, but not limited to market and government failures, budget deficits, tax reform, schooling and environmental protection. In covering these topics we will consider reasons for intervention, explore costs and benefits of policies, as well as the response of society's members to these policies. Prerequisite: Econ 100.  Class size: 22

 

18386

ECON 242

 Ecological Economics

Kris Feder

 T  Th 1:30 pm-2:50 pm

ALBEE 106

SA

SSCI

Cross-listed: Environmental & Urban Studies Ecological economics (ECE) is a transdisciplinary field of study that draws upon principles of physics, ecology, and other natural and social sciences as well as economics. ECE views the economy as "an open subsystem of a larger ecosystem that is finite, nongrowing, and materially closed (though open with respect to solar energy)." As human population and production grow, say proponents, ECE is "a necessary evolution of economic thought" (Daly and Farley). The positive analyses of ECE are motivated by three normative social goals: (1) efficient allocation of scarce resources, including those such as ecosystem services that do not pass through markets; (2) justice in distribution; and (3) an ecologically sustainable scale of economic activity. Prerequisite: ECON 100.  Class size: 22

 

18388

ECON 321

 SEMINAR IN ECONOMIC Development

Sanjaya DeSilva

 T        1:30 pm-3:50 pm

HEG 106

SA

SSCI

Cross-listed: Environmental & Urban Studies; Global & International Studies; Human Rights The goal of this seminar is to introduce upper college students to the current academic literature on economic development. This year, we will focus on two broad research questions: 1) Why have so many developing countries (e.g. Mexico, Turkey, China, South Africa, Malaysia) found it very difficult to transition from middle-income to high-income economies, a phenomenon that has been called the "Middle Income Trap"? 2) Why have many developing countries struggled to deliver basic public services (e.g. education of girls, clean water, vaccines for Malaria) to a large portion of their populations?  We will examine these questions from a variety of perspectives (e.g. historical, institutional, microeconomic, macroeconomic). Students are expected to make seminar presentations, conduct literature reviews and write research proposals on specific topics that fall under these two research themes. Prerequisites: Econ 100 and Econ 229. Class size: 15

 

18389

ECON 338

 Seminar in Discrimination

Michael Martell

& Andrea Weber

 T        4:40 pm-7:00 pm

ALBEE 106

SA

D+J

SSCI

DIFF

Cross-listed: Gender and Sexuality Studies  Many economists believe that markets are a relatively effective mechanism for coordinating wants and desires among members of society. Nevertheless we observe differences in economic outcomes for different groups of society. In this course we will explore the process through which differences in earnings manifest as well as the impact of these differences on wealth and well-being.  We pay particular attention to the role of discrimination in generating unequal outcomes in labor markets.  We will study discrimination with standard neo-classical approaches as well as through the analytical approaches of various schools of political economy including feminist, institutionalist, and Marxist.  We will discuss equality of economic opportunity and economic outcomes across, as well as relevant public policies for race, class, gender, sex and sexual orientation.  Class size: 15

This course is also open to graduate students in the CEU/Bard Advanced Certificate in Inequality Analysis.

 

18390

ECON 391

 Corporate Finance

Felipe Carvalho de Rezende

 T  Th 11:50 am-1:10 pm

LEVY

SA

SSCI

Cross-listed: 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.  Class size: 22

 

 

Cross-listed courses:

 

18522

IDEA 210

people on the move:  Causes and Consequences of  Migration in the Global economy

Aniruddha Mitra

Peter Rosenblum

 T  Th 1:30 pm-4:30 pm

RKC 102

SA

MBV

SSCI

 HUM

Cross-listed: Economics; Human Rights;  Related interest: Environmental & Urban Studies  8 credits  The United States is the product of waves of migration and the current host to multiple categories of migrants: refugees, wealthy investors, skilled and unskilled workers, who may be documented or undocumented What is a strength for some is a source of panic and politics for others. Migrants are the source of political controversy, mobilizing populist backlash and feeding xenophobic panics even while playing a major role in the economy. While anti-immigrant fervor is currently associated with the "right", foreign workers have also been blamed for undermining wages in the some sectors and depressing the conditions for increasing wages in others.  This 'big ideas' course combines (i) economic analysis of the motivation for and impact of migration with (ii) analysis of the social and political ramifications.  We will engage the anti-immigrant arguments coming from all sides as well as the arguments of immigrant solidarity and support organizations. Classes and readings will explore the economics, politics and human rights issues in migration, focusing on the United States since 1990 but situating them in international trends. While dealing primarily with "economic" migrants, the class will interrogate the conventional categories of voluntary vs. involuntary migrant, political refugee and victims of natural disasters. The class will explore case studies of workers and migration in the region, involving visitors and outings to link up with employers, public school educators, rights advocates, immigrant workers and (potentially) anti-immigrant organizations in order to build a practical, physical and immediate link between the issues that we are analyzing and the community. 

Class size: 18

 

18575

EUS 226

ENVIRONMENTAL MODELING

Gautam Sethi

  T  Th      3:10 pm   4:30 pm

HDR 106

MA

MATC

Cross-listed: Economics; Mathematics.