98075

ECON 101 A Introduction to Microeconomics

Kris Feder

. T . Th .

10:30- 11:50 am

ALBEE 106

SSCI

98817

ECON 101 B Introduction to Microeconomics

Andrew Pearlman

M . W . .

3:00-4:20 pm

OLIN 204

SSCI

Cross-listed: Economics and Finance, Environmental Studies; Global & Int’l Studies; 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.

98084

ECON 101E Introduction to Microeconomics with Experiments

Tsu-Yu Tsao

M . W . .

12:00-1:20 pm

OLINLC 115

SSCI

Cross-listed: Environmental Studies; Global & Int’l Studies Traditionally, economics has been regarded as a non-experimental science, where researchers have to rely on direct observations of the real world to verify their theories. That view, however, has changed in the last twenty years as many researchers begin to test economic theories in laboratory settings. In this course, we will follow this relatively new methodology in economics and use in-class experiments to study economic concepts. Each week, we devote one class meeting to conducting an experiment and the other to understand the underlying principles of the experiment and how those principles can be applied to analyze real-world issues. Topics to be addressed include minimum wage law, legality of drug use, farm subsidies in the U.S., the protection of intellectual property and pricing of AIDS drugs in developing countries, tradeoffs between efficiency and equity associated with taxation, the use of pollution permits in combating environmental degradation, international trade, and labor market discrimination. This course can be used to fulfill the requirement of Econ 101: Introduction to Microeconomics for students who intend to moderate into economics.

98081

ECON 102 A Introduction to Macroeconomics

Andrew Pearlman

M . W . .

10:30- 11:50 am

OLIN 203

SSCI

98078

ECON 102 B Introduction to Macroeconomics

Tamar Khitarishvili

. T . Th .

9:00- 10:20 am

OLINLC 115

SSCI

Cross-listed: Economics and Finance, Social Policy; Global & Int’l Studies 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.

98085

ECON 201A Intermediate Microeconomics

Tsu-Yu Tsao

M . W . . Lab: M

9:00- 10:20 am 3:00-4:50 pm

OLIN 204 HEG 102

SSCI

Cross-listed: Economics and Finance, Social Policy A further development of principles and analytical methods begun in Introductionto Microeconomics: demand, supply, and the workings of the price system. The positive and normative characteristics of alternative market structures ‘ perfect competition, monopolistic competition, oligopoly, pure monopoly, and in resource markets, monopsony ‘ are studies in depth. Market forces are examined in the context of social and political institutions that shape, and are shaped by, market outcomes. The alleged ‘trade-off’ between equity and efficiency is debated in the context of a variety of applications. Prerequisite: Introduction to Microeconomics.

98582

ECON 201B Intermediate Microeconomics

Tsu-Yu Tsao

M . W . . Lab: M

1:30 – 2:50 pm 3:00-4:50 pm

ROSE 108 HEG 102

SSCI

See description above.

98076

ECON 210 Development:Economic Thought I

Kris Feder

M . W . . Lab: F

12:00-1:20 pm 3:00-4:00 pm

ALBEE 106 ALBEE 106

SSCI

Cross-listed: Science, Technology & Society The early history of the yet-young science of economics: Petty, Locke, Hume, and the age of mercantilism; the Physiocrats of 18^th century France, inventors of the first circular-flow analysis of the macroeconomy; the revolutionary work of philosopher Adam Smith in 1776; and the century of classical political economy that followed him in the English-speaking world: Thomas Malthus, David Ricardo, John Stuart Mill, and others who studied the virtues and vices of the market system and debated the great questions of the relations of land, labor and capital. At its maturity, the classical school gave rise to two very different attacks on existing politico-economic institutions: in continental Europe, the socialist critique of Karl Marx; and in the United States and England, the Lockean critique of Henry George. This course focuses on the classical period to the late 19^th century, when classical political economy gave way to the "marginal revolution," which, applying the mathematical insights of calculus to economic questions, focused more on subjective choice and perhaps less on political issues and institutions. Prerequisite: One economics course.

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.

98077

ECON 226 Urban and Regional Economics

Kris Feder

. T . Th .

2:30-3:50 pm

ALBEE 106

SSCI

Cross-listed: American Studies, Environmental Studies, Science, Technology & Society, Social Policy An introduction to the economic analysis of the spatial distribution of human behavior, addressing such questions as: Where and why do cities arise--why do people cluster their homes and workplaces together in certain places? What factors determine the market allocation of land among users, and the variations in land value from place to place? What determines the size, density, and number of urban areas? What are the causes and consequences of suburbanization and sprawl, so evident in the US and Canada in recent decades? The spatial structure of cities and of regional systems of cities is analyzed from the perspective of central place theory. This microeconomic theory of location complements a historical review of patterns of urbanization and sprawl. Also, contemporary urban problems are examined from an economic point of view: housing and homelessness; crime; transportation; social services; segregation; inner-city blight. Issues of urban planning and policy are debated. Prerequisite: ECON 101.

98083

ECON 237 Economics of the Public Sector

Andrew Pearlman

. T . Th .

1:00-2:20 pm

OLIN 204

SSCI

Cross-listed: American Studies, Environmental Studies, Social Policy This course introduces the two branches of traditional public finance, corresponding to the two sides of the government budget—revenue and spending. On the spending side, we survey the economic rationales for the existence of government and for its intervention in the economy, as well as the economic consequences of government expenditures. On the revenue side, we examine the problem of efficient pricing of public sector output; the consequences of alternative tax structures for the distribution of wealth and the efficiency of resource allocation; and contemporary debates about tax reform. This course also introduces alternative approaches to the economics of collective action. The theory of public choice explains the actions of clubs, governments, interest groups, corporations, labor unions, and other associations with reference to the interacting choices of self-interested individuals. Topics in public choice theory include the economic theory of clubs; the theory of constitutions; property rights; efficiency, equity and consistency of alternative voting rules; and economic models of the behavior of legislators, politicians, bureaucrats, and citizens. Prerequisite: Introduction to Microeconomics.

98079

ECON 260 Religion and Economics

Tamar Khitarishvili

M . W . .

1:30-2:50 pm

OLIN 309

SSCI

Cross-listed: Human Rights, Religion Using an interdisciplinary approach, this course analyzes the relationship between religion and economic development. We start by looking at the impact that religion and religious thinking have had on the formation of economic order in societies. What role has monotheism played in the development of economic ethics (e.g. attitude towards money, economic well-being, the meaning of work)? How have religious views affected the evolution of capitalism? What are the views of different religions on globalization? Next, we look at the role that economic incentives have played in the growth of religions. We analyze how economic factors may have influenced the spread of Christianity in the first-century Rome. We also look at the role they played in the growth of Islam. Other case studies will include the analysis of the impact of the Templar Order of 12th century on the development of financial institutions in Europe; the economic history of Russian Old Believers, a schismatic group of the Russian Orthodox Church; and the role that the lack of economic opportunities in the Middle East may have played in the growth of terrorism.

98072

ECON 265 Community-Based Development

Sanjaya DeSilva

. . W . F

10:30- 11:50 am

OLIN 205

SSCI/DIFF

Cross-listed: Asian Studies; Environmental Studies; Global & Int’l Studies; Human Rights; Science, Technology & Society This course critically examines the concept and practice of community-based (or community-led) development as an alternative to the widely studied top-down theories and policies of development. We begin by asking whether the end goals of “development” are universal outcomes such as income, or outcomes that vary with the values of individuals or communities. Conceptualizations of well being in Buddhist and Gandhian thinking will be considered to highlight the cross-cultural differences in what constitutes a “good life”. We will develop a broader definition of development as economic, social and political empowerment that allows an individual or a community to achieve whatever it is that they value and desire. We will then examine several grassroots development movements that have focused on empowerment. Two examples are the micro-credit movement that began with the Grameen Bank of Bangladesh and the Sarvodaya Shramadana Movement of Sri Lanka. We will also attempt to relate the concept of community-based development to the neoclassical paradigm of economics. We will critically examine the impact of market expansion and the consequent erosion of informal exchange relations from the perspective of community empowerment. Several innovative ideas such as fair trade, eco-tourism and micro-credit that attempt to combine community empowerment with market expansion will be studied. Throughout the course, the relationship of community-based development with ecological sustainability and political decentralization will be highlighted. Prerequisites: Econ 101 or permission of instructor.

98080

ECON 302 Topics in Macroeconomics

Dimitri Papadimitriou

. . . . F

9:30- 11:50 am

OLIN 203

SSCI

Cross-listed: Global & Int’l Studies, Social Policy This course will examine advanced topics in macroeconomics and critically review contemporary macroeconomic theories and models with regard to their historical development. The foundations of macroeconomic theory will be studied and alternative approaches to economic growth, distribution, increasing returns, and endogenous change will be analyzed. The monetary and financial aspects in macro foundations will be discussed, focusing on the work of Minsky, Tobin, Sargent, Lucas, post-Keynesians, neo-Keynesians, new Keynesians, and Sraffians. Readings will be mainly from primary journal literature. Prerequisite: Economics 202, or permission of the instructor.

98073

ECON 329 Econometrics

Sanjaya DeSilva

. T . Th . Lab: F

9:00- 10:20 am 12:30-2:20 pm

RKC 200 HDRANX 106

SSCI

Cross-listed: Economics & Finance, Social Policy 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 demanded; 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 hypothesis testing. Students will have an opportunity to apply these tools to analyze a variety of economic issues. Prerequisites: ECON 229 and either ECON 201 or ECON 202.

98074

ECON CONF Senior Conference

Kris Feder

M T . . .

5:00-7:20 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.