19227

ECON 101 A Introduction to Microeconomics

Sanjaya DeSilva

. . W . F

10:30 -11:50 am

OLIN 204

SSCI

Cross-listed: Economics & Finance, Environmental Studies; GISP; Social Policy This course covers the essential ideas of economic analysis. Students will learn how economists explain human behavior as we seek to satisfy our needs and wants. The first part of the course develops models of consumer and firm behavior, including demand and supply, in the context of an idealized competitive market. From there we analyze 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. Along the way we will explore public policy problems such as pricing the environment, winners and losers from international trade, health care costs and insurance, and the high price of textbooks. Econ 101 and 102 may be taken in either order.

19228

ECON 101 B Introduction to Microeconomics

Kris Feder

. T . Th .

1:00 pm -2:20 pm

RKC 101

SSCI

See above.

19091

ECON 102 A Introduction to Macroeconomics

Tamar Khitarishvili

M . W . .

9:00 -10:20 am

ALBEE 106

SSCI

Cross-listed: Economics and Finance, Social Policy; GISP This course begins with the examination of the aggregate behavior of modern economies: the factors leading to economic growth, explanations of booms and recessions, unemployment, interest rates, inflation, budget deficits or surpluses, and international trade. We will also analyze the government’s ability (or inability) to use monetary and fiscal policies to achieve economic goals such as full employment and price stability. Throughout the course, we will debate whether government should use monetary and fiscal policy tools to try to ‘fine tune’ the economy and what the likely effects of such government involvement are. We will analyze these issues using current domestic and international examples. Econ 101 and 102 may be taken in either order.

19092

ECON 102 B Introduction to Macroeconomics

Andrew Pearlman

. T . Th .

2:30 pm -3:50 pm

OLIN 203

SSCI

See above.

19095

ECON 125 Economics from the Ground Up

Kris Feder

M . W . . . . . . F

3:00 pm -4:20 pm 1:30 pm – 2:30 pm

ALBEE 106 ALBEE 106

SSCI

This course develops economic principles through two parallel investigations. We proceed historically, examining the economies of “primitive” hunter-gatherers, Bronze Age agricultural civilizations, and feudal societies before exploring the general features of complex market-oriented systems. At the same time we proceed analytically by building from a conceptual model of the simplest economy of all—that of a single individual, a “Robinson Crusoe” who struggles to survive by employing available resources to produce food and shelter. Following the standard conception of economics as the study of constrained choice, we ask how Crusoe might economize on scarce resources by balancing marginal benefits and costs. The Crusoe model generates foundational economic concepts such as price, labor and wages, capital and interest, land and rent, profit and loss. Successive elaborations of the model introduce cooperation and exchange, property systems, market competition, monopoly, externalities, and public goods. Particular attention is paid to the nature and function of capital as well as to the relationship between human activity and natural ecosystems. This is a writing intensive course. Students will spend an extra hour a week in a writing lab. The writing component will focus on helping students to develop, compose, organize, revise, and edit analytical prose; to develop the ability to identify and articulate a thesis; to construct an argument; to collect and present evidence and documentation; to interpret and analyze texts; and to become proficient in the mechanics of writing, revision, grammar, and editing. Regular short writing assignments will be required. Enrollment limited to 14. Prerequisite: Mathematics 110 or the equivalent. (Because economic concepts are mostly quantitative, algebraic and graphical methods are used extensively.) No prior knowledge of economics is expected.

19096

ECON 200 Money and Banking

Dimitri Papadimitriou

. T . Th .

10:30 -11:50 am

OLIN 205

SSCI

Cross-listed: Economics & Finance, Global & Int’l 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.

19097

ECON 202 Intermediate Macroeconomics

Tamar Khitarishvili

M . W . .

3:00 pm -4:20 pm

OLIN 202

SSCI

Cross-listed: Global & Int’l Studies, Social Policy 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: Econ 102 (Introduction to Macroeconomics)

19103

ECON 218 Asian Economic History

Sanjaya DeSilva

. T . Th .

1:00 -2:20 pm

ALBEE 106

HIST

Cross Listed: Asian Studies, Global and International Studies This course is an analytical examination of historical events and circumstances that have shaped the economic landscape of twentieth century Asia. We traces the evolution of selected Asian economies from colonialism, economic dependency and isolationism at the advent of the 20^th century through the World Wars and post-War experiments with communism and planning to the era of globalization and liberal reforms. Strategies of economic development such as import-substituting industrialization, national planning, export-led growth and global/regional integration are studied in depth. The course is divided in to three segments regionally: South Asia (India and Sri Lanka), China and Southeast Asia. Prerequisite: ECON 102

19099

ECON 229 Statistics

Andrew Pearlman

. T . Th . M . . . .

9:00 -10:20 am 4:30 -6:20 pm

OLIN 204 HDRANX 106

MATC

Cross-listed: Economics & Finance, Environmental Studies, Global & Int’l Policy, Social Policy The first of a two-course series designed to examine empirical economics, and a prerequisite for Economics 329, Econometrics. Basic concepts of statistics, probability, probability distributions, random variables, correlation, and simple regression are introduced; the techniques of statistical inference hypothesis testing are developed. Numerous examples and computer-based exercises are included. Prerequisite: Economics 101 or 102.

19229

ECON 291 Foundations of Finance and Investments

Tsu-Yu Tsao

M . W . .

1:30 pm -2:50 pm

OLIN 101

SSCI

Cross-listed: Economics & Finance This course explores the foundations of the pricing of financial instruments and the structure and organization of financial markets. Methods will be developed to analyze and measure financial performance, price stocks and bonds, evaluate portfolios and understand financial derivatives as these relate to financial data. Additional topics include the investment decision-making process; trading practices; risk assessment and diversification. This course involves a substantial amount of statistical analysis and calculation, but no prior knowledge of statistics is required.

19230

ECON 317 Industrial Organization

Tsu-Yu Tsao

M . W . .

9:00 -10:20 am

OLIN 301

SSCI

Cross-listed: Economics & Finance This course covers industrial organization, from traditional ideas to ideas on the frontier of economic research. The traditional literature addresses the industrial structure of the US economy and antitrust policy, monopolies, and anti-competitive behavior. More recent work examines the structure of firms, markets and organizations. Other topics include vertical integration and coordination, product differentiation and patents, bilateral bargaining and the market for lemons, auction and bidding, and theories of advertising. The theory is examined in the context of real world situations, both current and historical. Prerequisite: Economics 201 – Intermediate Microeconomics

19104

ECON 323 Topics in International Trade and Finance

Sanjaya DeSilva

. . . . F

3:00 pm -5:20 pm

OLIN 309

SSCI

Cross Listed: Global and International Studies, Social Policy This seminar is an examination of advanced topics in international trade using theory and empirical evidence. Recent theoretical advances in understanding trade under imperfect competition, strategic trade, and political economy of trade policy are studied. Classical, neoclassical and modern theories are used to analyze important policy issues such as the effect of trade on economic growth and income distribution, preferential and multilateral trade agreements, farm subsidies and textile quotas, dumping, outsourcing, migrant labor, and environmental and labor standards. Prerequisites: Economics 101, 102 and 229.

19339

ECON 345 Topics in Institutional Economics

Tamar Khitarishvili

. . . Th .

1:30 pm -3:50 pm

OLIN 307

SSCI

Cross-listed: Political Studies, Science, Technology & Society, Social Policy Institutions can be defined as systems of established and prevalent social rules that govern social interactions. Examples of institutions include trust, money, property rights, law and social capital, among others. Institutional economics analyzes how institutions function and develop, and how they influence economic outcomes. This course will cover a selection of topics exploring the link between institutions and economic development. The topics will include the modeling of culture, norms and values; formal and informal institutions; corruption; path dependence; and the issue of evolution versus equilibrium. Prerequisite: Economics 201.

19105

ECON CONF Senior Conference

Kris Feder

. T . Th .

4:00 pm -6:20 pm

ALBEE 106

Students writing Senior Projects in Economics will be required to attend the Senior Conference, which will meet not more than one evening every two weeks throughout the fall and spring terms. Not for credit.