CRN

90011

Course No.

ECON 101

Title

Introduction to Macroeconomics: National Income, Employment & Inflation

Professor

Christopher Magee

Schedule

Wed Fr 8:30 am -9:50 am OLIN 204

Distribution

A/E Q Course

This course begins with an examination of 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. 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 the government should use monetary and fiscal policy to try to "fine tune" the economy and what the likely effects of such government involvement are.

Prerequisites: None. ECON 101 and 102 may be taken in either order.

CRN

90168

Course No.

ECON 102

Title

Introduction to Microeconomics: The Price System - "Invisible Hand" of the Market

Professor

Rania Antonopoulos

Schedule

Tu Th 3:00 pm - 4:20 pm OLIN 303

Distribution

A/E Q Course

An examination of the logic of constrained choice, with a focus on the economic behavior of individuals and organizations. The mechanics of the price system are analyzed in terms of demand (utility) and supply (cost). The characteristics of alternative market structures, from pure competition to monopoly, are derived and evaluated. The conditions under which markets allocate resources efficiently are worked out, and several causes of market failure are examined. Simple graphical and mathematical methods (high-school level of difficulty) are developed, their use reinforced by a variety of applications. Questions of microeconomic analysis and policy raised by current events are debated.

Prerequisite: None. 101 and 102 may be taken in either order.

CRN

90703

Course No.

ECON 201

Title

Intermediate Macroeconomics: Business Cycles, Growth, and Fiscal and Monetary Policy

Professor

Dimitri Papadimitriou

Schedule

Mon Wed 1:30 pm -2:50 pm PRE 101

Distribution

A

A treatment of the determinants of national income, employment, and price levels in the short run; a study of the problem of business fluctuations in the economy and theoretical attempts to explain them; integration of short-run macroeconomic analysis with the theory of long-run economic growth.

Prerequisite: ECON 101.

CRN

90034

Course No.

ECON 215

Title

American Economic History

Professor

Christopher Magee

Schedule

Wed Fr 11:30 am - 12:50 pm OLIN 205

Distribution

C/E

This course provides a basic analysis of trend and events that have shaped the economic development of the United States from the colonial period to contemporary times. Topics we will cover include the role of the government in the economy, the rise of monopolistic corporations, income inequality, the role of slavery in the economies of the South (and the North), the causes of the Great Depression, and the growth of the welfare state since the New Deal programs in the 1930s.

Prerequisites: ECON 101 or 102 or permission of instructor.

CRN

90035

Course No.

ECON 216

Title

Transition Economies: From Communism to Capitalism

Professor

Christopher Magee

Schedule

Tu Th 10:00 am - 11:20 am OLIN 204

Distribution

C

This course examines the political and economic problems of countries in Eastern Europe and the former Soviet Union that are making the transition from the soviet economic system to free-market capitalism. Most of these economies have experienced a dramatic fall in output. We will analyze the necessary reforms and debate the merits of various proposals for making a successful transition. Topics we discuss include privatization of state-run enterprises, the deregulation of prices and inflation, government debt and the tax system, and the role of international lending institutions such as the IMF.

Prerequisites: ECON 101 and 102 or permission of instructor.

CRN

90013

Course No.

ECON 242

Title

Environmental Economics: Political Economy and the Natural World

Professor

Kris Feder

Schedule

Tu Th 11:30 am - 12:50 pm OLIN 203

Distribution

A/E

Cross-listed: CRES

The interrelationships between economic and ecological systems: the materials balance; the economic role of ecosystem services; the economic value of extractive and in situ uses of the environment as a source of productive inputs and a repository for wastes; market and non-market allocations of natural resources among alternative uses. The standard neoclassical analysis of pollution as a consequence of externality and market failure is developed, general conditions for efficient resource use and waste disposal are derived, and rationales for public management of environmental resources are examined. Conventional policy solutions are evaluated with particular focus on United States environmental policy. Orthodox analyses of environmental problems are contrasted with alternative interpretations, including those of ecological economics, steady-state economics, and geoclassical economics. Of special interest are the questions of land tenure and entitlement-of individual and collective rights to nature.

Prerequisite: ECON 102.

CRN

90702

Course No.

ECON 305

Title

Introduction to Mathematical Economics

Professor

Kris Feder

Schedule

Mon Wed 10:00 am - 11:20 am OLIN 205

Distribution

E Q Course

Introduction to the use of elementary calculus and linear algebra in economic theory. This course provides the basic mathematical skills necessary to approach the professional economics literature. Emphasis is on formulating economic problems and building economic models in mathematical language. Applications are based upon simple micro- and macroeconomic models.

Prerequisites: ECON 101 or 102; calculus.

CRN

90511

Course No.

ECON 329

Title

Econometrics

Professor

Ajit Zacharias

Schedule

TBA

Distribution

A /E

Econometrics is the artful blending of economic theory with statistics. Economic theory helps us to develop behavioral hypotheses, while statistics help us to test these hypotheses. For example, consumer theory tells us that there is an inverse relationship between price and quantity consumed; we use econometrics to see if consumers actually behave in this way. This course covers the proper use of statistical tools, such as linear regression, multivariate regression and hypotheses testing. Students will have an opportunity to apply these tools to a variety of economic issues, including estimated production and cost functions. Prerequisite: ECON 229 and one other intermediate Econ. course.

CRN

90401

Course No.

ECON 356 (Upper College Seminar)

Title

Collective Decisions and Voting

Professor

Nicolaus Tideman

Schedule

Mon 11:30 am - 12:50 pm OLIN 306

Mon 3:00 pm - 4:20 pm OLIN 304

Distribution

A/C

Cross-listed: CRES

Related interest: Political Studies; PhilosophyThis course is addressed to students with no previous study of collective decisions and voting. The course will be particularly interesting to philosophy and political science majors as well as to economics majors. The first part of the course defines a collective decision and then classifies and evaluates the modes by which collective decisions are made. Modes of making collective decisions are placed in taxonomies and correlated with criteria of attractiveness. Traditional ways of evaluating collective decisions are analyzed and contrasted with new ones. A new moral criterion for collective decisions is introduced. The second part of the course develops the idea that possible ways of voting are much more varied than one might expect. But to get as much as possible from voting, it is important to understand what voting cannot do. The limitations of voting are developed through discussions of cycles, the Arrow theorem and the Gibbard-Satterthwaite theorem. A four-dimensional classification system for voting procedures serves to organize discussions of three types of voting situations: (1) electing one candidate from many, where the main problem is to identify the best way of cutting through cycles; (2) electing more than one candidate from many, which involves a comparison of party-list systems of proportional representation with various versions of the single transferable vote; and (3) responding to the varying intensities of voters' preferences, which involves the "demand-revealing" process.