91106

ECON 101 A Introduction to Microeconomics

Andrew Pearlman

. T . Th .

1:30 -2:50 pm

Olin 204

SSCI

Cross-listed: Economics & Finance, Environmental & Urban Studies; GIS; 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. Prerequisite: MATH 110

91107

ECON 101 B Introduction to Microeconomics

Alex Chung

. . W . F

1:30 -2:50 pm

Olin 201

SSCI

See description above.

91108

ECON 101E Introduction to Microeconomic with Experiments

Tsu-Yu Tsao

. T . Th .

3:10 -4:30 pm

Olin L. C. 120

SSCI

Cross-listed: Environmental & Urban Studies; GIS 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.

91109

ECON 102 A Introduction to Macroeconomics

Tamar Khitarishvili

M . W . .

10:10 - 11:30 am

Olin 204

SSCI

Cross-listed: Economics and Finance, Environmental & Urban Studies; Social Policy; GIS 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. Pre- or co- requisite: ARC 150, if recommended

91110

ECON 102 B Introduction to Macroeconomics

Olivier Giovannoni

. . W . F

11:50 -1:10 pm

Olin 201

SSCI

See description above.

91111

ECON 201 Intermediate Microeconomics

Tsu-Yu Tsao LAB:

M . W . . M . . . .

11:50 -1:10 pm 4:40 -6:40 pm

Albee 106

SSCI

Cross-listed: Economics and Finance, Social Policy 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 Introduction to Microeconomics.

91113

ECON 205 Introduction to Mathematical Economics

Kris Feder

. . W . F

10:10 - 11:30 am

Olin 303

MATC

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.

91112

ECON 210 History of Economic Thought

Kris Feder

. . W . F

1:30 -2:50 pm

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.

91115

ECON 226 Urban and Regional Economics

Kris Feder

. T . Th .

6:20 -7:40 pm

Olin 202

SSCI

Cross-listed: American Studies, Environmental & Urban 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.

91114

ECON 230 Research Methods in Economics

Andrew Pearlman

. T . Th .

10:10 - 11:30 am

HDRANX 106

MATC

Cross-Listed: Social Policy This course provides students with skills necessary to become producers of economic research rather than mere consumers.  This goal has two main components: technical mastery of quantitative data and software, and the ability to tie one's own research to the existing literature. The quantitative component of the course will help students learn how to find data that is relevant to a well-specified research question.  We will cover hands-on techniques for working with data in statistical software (Stata), how to use data documentation, and how to address common problems. Upon completing an analytical project, students will learn how to write up their results with clarity and precision, including accurate descriptions of the data and methods used. The literature-focused component of the course will begin by exposing students to common research tools and databases to find relevant economic research.  This will include not only the process of performing a search, but also how to interpret and prioritize search results.  We will learn how to combine ideas from different sources to create a cohesive literature review, rather than a disjointed series of summaries of individual articles.  Finally, we will review when and how to properly cite sources. Prerequisite: Economics 229 (Statistics) or equivalent.

91116

ECON 252 Law and Economics

Tsu-Yu Tsao

. T . Th .

4:40 -6:00 pm

Olin 204

SSCI

Cross listed: Human Rights The economic approach focuses on the choices people make in the context of given opportunities and constraints, and on how they respond to changes in incentives. This course applies economic principles to study the incentive effects that legal sanctions have on human behavior. In addition to making scientific predictions with regard to individual responses, we evaluate the welfare implications of the law on the grounds of efficiency and equity. Four areas of law are analyzed: property law, contracts, torts, and the concept of crime and punishment. Time permitting, we also address legal issues associated with racial discrimination, sex and marriage, surrogate motherhood, or prostitution. Algebra and graphs are used intensively as analytical tools. Prerequisite: Introduction to Microeconomics

91534

ECON 291 Foundations of Finance and Investments

Alex Chung

. T . Th .

6:20 -7:40 pm

Olin 204

N/A

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.

91117

ECON 323 Topics in International Trade

Olivier Giovannoni

. . . Th .

1:30 -3:50 pm

Albee 106

SSCI

Cross Listed: GIS, Social Policy, Economics and Finance  This seminar examines advanced topics in international trade using both a theoretical foundation and real world examples. We will cover different models of international trade ranging from classical to imperfect competition and political economy. The questions we ask are the following: What is the pattern of trade for the United States? Why do countries engage (increasingly) in trade? Is trade always good for all trading partners? Should we manage trade flows and if so, do multilateral agreements, quotas, subsidies and tariffs make any sense? Among the examples we will discuss the effect of trade on economic growth and income distribution, farm subsidies and textile quotas, dumping, outsourcing, immigration, capital movements, and environmental and labor standards. Prerequisites: Economics 101, 102 and 229.

91118

ECON 335 Labor Economics

Andrew Pearlman

M . W . .

3:10 -4:30 pm

Albee 106

SSCI

This course focuses on the economic forces and public policies that affect employment and wages. We examine theoretical models of labor markets and how well they hold up to real-world empirical data. Topics emphasized include labor demand and supply, minimum wage laws, theories of unemployment, job search and matching models, family and life-cycle decision-making, human capital, efficiency wage theory, compensating wage differentials, worker mobility and migration, unions, and discrimination. Prerequisite: ECON 101 (Introduction to Microeconomics).

91119

ECON 345 Institutional Economics

Tamar Khitarishvili

. T . . .

1:30 -3:50 pm

Albee 106

SSCI

Cross-listed: GIS; 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.