91367

ECON 100 A Principles of Economics

Olivier Giovannoni

. . W . F

10:10 - 11:30 am

OLINLC 115

SSCI

Cross-listed: Economics and Finance; Environmental and Urban Studies; Global and International Studies; Social Policy 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 modelincluding 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 governments 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: 18

 

91368

ECON 100 B Principles of Economics

Aniruddha Mitra

. T . Th .

1:30 -2:50 pm

OLIN 309

SSCI

See above. Class size: 18

 

91369

ECON 100 C Principles of Economics

Aniruddha Mitra

. T . Th .

3:10 -4:30 pm

OLIN 204

SSCI

See above. Class size: 22

 

91348

ECON 101 Introduction to Microeconomics

Sanjaya DeSilva

. . W . F

11:50 -1:10 pm

OLINLC 115

SSCI

Cross-listed: Economics and Finance; Environmental and Urban Studies; Global and International 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. Prerequisite: Econ 102. Note that this course is restricted to students who have taken Econ 102 and would like to complete the introductory sequence. Students who have not taken Econ 102 should enroll in Econ 100, the new one-semester foundational course of the economics curriculum. Class size: 22

 

91366

ECON 102 Introduction to Macroeconomics

Olivier Giovannoni

. . W . F

1:30 -2:50 pm

ALBEE 106

SSCI

Cross-listed: Economics and Finance, Environmental & Urban Studies; Social Policy; Global & Intl 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 governments 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. Prerequisite: Econ 101. Note that this course is restricted to students that have taken Econ 101 and would like to complete the introductory sequence. Students that have not taken Econ 101 should enroll in Econ 100, the new one-semester foundational course of the economics curriculum. Class size: 18

 

91371

ECON 200 Money and Banking

Pavlina Tcherneva

. T . Th .

10:10 - 11:30 am

ALBEE 106

SSCI

Cross-listed: Economics & Finance, Global & Intl 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 102. Class size: 22

 

91370

ECON 201 Intermediate Microeconomics

Aniruddha Mitra

M . W . .

8:30 -9:50 am

OLIN 203

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. Class size: 22

 

91363

ECON 210 History of Economic Thought I

Kris Feder

M . W . .

11:50 -1:10 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 18th 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 19th 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.

Class size: 22

 

91360

ECON 221 Economic Development

Sanjaya DeSilva

. . W . F

10:10 - 11:30 am

ALBEE 106

SSCI

Cross-listed: Africana Studies; Asian Studies; Environmental and Urban Studies; Global and International Studies; Human Rights; LAIS; Science, Technology, and Society; Social Policy This course explores the economic conditions and problems faced by the majority of the worlds population that live in the developing countries of Asia, Africa, Latin America and the Caribbean. The concept of economic development is defined and related to ideas such as economic growth, sustainable development and human development. Economic theories of development are introduced, and policies designed to promote development at the local, national and international levels are evaluated. Considerable attention is paid to understanding how household decisions in rural agricultural societies are shaped by the institutional and policy environments. Topics include the economic consequences of colonialism and economic dependence; poverty and income distribution; investments in physical and human capital; economic aspects of household choices such as schooling, and fertility; rural-urban transformation; the effects of trade, industrial and agricultural policies; the role of foreign capital flows; political economy aspects of development policy; population growth and the environment; gender and development. Students will be expected to carry out a case study of the development experiences of a country of their choice. Prerequisites: ECON 102. Class size: 22

 

91365

ECON / FIN 291 Foundations of Finance

and Investments

Alex Chung

. T . Th .

11:50 -1:10 pm

ALBEE 106

SSCI

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. Class size: 22

 

91372

ECON 304 Macroeconomic Stability:

Theory and Policy

Pavlina Tcherneva

. T . . .

1:30 -3:50 pm

ALBEE 106

SSCI

This course will examine the nature of economic instability and financial crises in modern history and the Keynesian contributions to macroeconomic stabilization policy. Students will be introduced to John Maynard Keyness investment theory of the business cycle and Hyman P. Minskys financial theory of investment.  We will grapple with the controversial question of government intervention by examining the theoretical justifications for and against intervention, the optimal level of intervention, and the effects of complete absence of intervention. We will also discuss specific economic policies that deal with important problems such as inflation, unemployment, poverty, financial crises, and other. The relative effectiveness of monetary and fiscal policies will also be discussed. Prerequisite: ECON 202 Class size: 15

 

91364

ECON 324 Seminar in International Economics

Olivier Giovannoni

. . . Th .

1:30 -3:50 pm

ALBEE 106

SSCI

This seminar covers the two aspects of international economics: international trade (real or physical flows) and international finance (monetary or financial flows). We present the important facts of international trade/finance, detail the major theories, and discuss policy options. Typical questions addressed are: Why do countries engage (increasingly) in trade? Does trade benefit everybody? Equally? Always? Should we manage trade flows and if so, do quotas, subsidies and tariffs make sense? How about trade and capital market liberalization? What is a balance-of-payments crisis and what happened in 1971-73? How are exchange rates determined? What are the pros and cons of a fixed/flexible exchange rate system? What are the roles and effects of institutions such as the Federal Reserve and the IMF? What is an optimum currency area? Numerous real-world examples are considered and current policy debates are explored; some topics include trade with China, the repercussions of the 2008 crisis for the US and European economies, the future of the Euro and the Dollar. The objective of the class is to apply the tools and models of international economics to think analytically and critically about the economic situations and issues that surround us. The real world is an open economy. Prerequisite: Econ 202. Class size: 15

 

91361

ECON 329 Econometrics

Sanjaya DeSilva

M . . . .

4:40 -7:00 pm

ALBEE 106

SSCI

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 provides an in-depth treatment of the linear regression model, the Ordinary Least Squares methodology and common estimation problems. More advanced models and tests that deal with violations of classical assumptions, time series, panel data, structural models and limited dependent variables are introduced. Students will gain a working knowledge of the econometric software STATA. In the semester-long research project, students will have an opportunity to apply econometric tools to analyze an economic issue of their choice. Prerequisites: a 200 level economics course, Math 141 and one of Econ 229, Math 123, Math 319 or permission of instructor. Class size: 15