91638

ECON 100 A Principles of Economics

Pavlina Tcherneva

. T . Th .

1:30 -2:50 pm

HEG 204

SSCI

Cross-listed: Economics & Finance, Global & Int’l Studies 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 model—including 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 government’s 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: 25

91642

ECON 100 B Principles of Economics

Pavlina Tcherneva

. T . Th .

3:10 -4:30 pm

RKC 101

SSCI

See above. Class size: 22

91645

ECON 100 C Principles of Economics

James Andrew Felkerson

. . W . F

10:10 - 11:30 am

OLIN 205

SSCI

See above. Class size: 22

91910

ECON 100 D Principles of Economics

James Green-Armytage

M . W . .

1:30 – 2:50 pm

OLIN 204

SSCI

See above. Class size: 22

91644

ECON 200 Money and Banking

Pavlina Tcherneva

. T . Th .

10:10 - 11:30 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. Prerequisite: ECON 100 or ECON 102. Class size: 20

91646

ECON 201 Intermediate Microeconomics

Aniruddha Mitra

. T . Th .

8:30 -9:50 am

OLIN 201

SSCI

Cross-listed: Economics and Finance 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 ECON 100. Class size: 22

91647

ECON 218 Asian Economic History

Sanjaya DeSilva

M . W . .

10:10 - 11:30 am

ALBEE 106

HIST

Cross-listed: Asian Studies, Global & Int’l Studies This course surveys the historical events and circumstances that have shaped the economic landscape of modern Asia. We begin in the nineteenth century when European contact had initiated a process of dramatic change throughout the continent; Japan began a process of unprecedented modernization, China confronted a series of internal conflicts and external threats, and much of the rest of the continent was absorbed directly into the colonial economy. We then compare the trajectories of economic change during the twentieth century. Particular attention is paid to the various economic models pursued in the region, including the colonial export economy of Southeast Asia, export-oriented industrialization in Japan, South Korea and Southeast Asia, import-substituting industrialization in India, and the communist economy of Mao’s China and mainland Southeast Asia. The regions covered are East Asia, Southeast Asia and South Asia. Prerequisite: Econ 100 or prior coursework in Asian Studies. Class size: 22

91911

ECON 235 Labor Economics

James Green-Armytage

. T . Th .

4:40 – 6:00 pm

OLIN 202

SSCI

Cross-listed: American Studies, Gender & Sexuality Studies 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: Economics 100

91912

ECON 237 Economics of the Public Sector

James Green-Armytage

M . W . .

3:10 – 4:30 pm

ALBEE 106

SSCI

Cross-listed: Environmental & Urban Studies The public sector is a large component of every national economy, even of “market” economies such as that of the United States. Public sector economics (or public economics) covers four general areas: Government revenue, government spending, regulation, and public choice (study of incentives influencing the behavior of voters, politicians, and bureaucrats, and of the consequences of alternative decision structures). This course focuses on the microeconomics of the public sector. Specific topics covered include market failures, externalities, public goods, optimal taxation, the economic theory of voting, regulatory capture, and fiscal federalism. As the field is broad, we focus on applications to the US economy. Prerequisite: Econ 100. Class size: 22

91650

ECON 242 Ecological Economics

Kris Feder

M . W . .

11:50 -1:10 pm

ALBEE 106

SSCI

Cross-listed: Environmental & Urban Studies Ecological economics (ECE) is a transdisciplinary field of study that draws upon principles of physics, ecology, and other natural and social sciences as well as economics. ECE views the economy as “an open subsystem of a larger ecosystem that is finite, nongrowing, and materially closed (though open with respect to solar energy).” As human population and production grow, say proponents, ECE is “a necessary evolution of economic thought” (Daly and Farley). The positive analyses of ECE are motivated by three normative social goals: (1) efficient allocation of scarce resources, including those—such as ecosystem services—that do not pass through markets; (2) justice in distribution; and (3) an ecologically sustainable scale of economic activity. Prerequisite: ECON 100. Class size: 22

91916

FIN / ECON 291 Foundations of Finance and Investments

James Andrew Felkerson

. . W . F

11:50 -1:10 pm

HEG 102

SSCI

See Economics & Finance section for description.

91651

ECON 329 Econometrics

Sanjaya DeSilva

M . W . .

1:30 - 2:50 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

91653

ECON 331 International Migration

Aniruddha Mitra

. T . Th .

11:50 -1:10 pm

RKC 101

SSCI

Cross-listed: Environmental & Urban Studies; Global & Int’l Studies; Human Rights The object of this course is to look at transglobal migration as an economic phenomenon, focusing primarily on human movements in the era of globalization. The questions we take up are the following: Who migrates? Why do they migrate? What are the consequences for the societies they leave behind? What are the consequences for the societies they go to? In particular, does immigration reduce wages for native workers? To what extent does the actual economic impact of immigration determine native perception of immigrants? What role do these perceptions play in the framing of immigration policy? Is there a case for immigration policy reform, both generally and with respect to illegal migration? Prerequisite: Econ 100 and Statistics (Econ 229 or equivalent). Class size: 22

91652

ECON 390 Contemporary Developments in Finance

Dimitri Papadimitriou

. T . . .

1:30 -3:50 pm

ALBEE 106

SSCI

Cross-listed: Economics & Finance The seminar will contrast the academic analysis of financial economics with the coverage it receives in the newspapers and on the nightly newscast. The stories on the news are almost always connected with people, whether we observe them shouting bids in a trading floor or talking on two phones simultaneously. Financial markets are dominated by people behaving in many different ways. Yet traditional finance theories concentrate on efficient markets, predictable prices that are determined by the concepts of present value, rates of return and analysis and pricing of computable risks. Human behavior has neither a place in the theory nor a need to be studied. This prevailing view has recently been challenged by the new paradigm of behavioral finance that considers the many anomalies of "rational" behavior and "efficiency" of markets. The new paradigm concerns itself with economic decision-making and investor psychology, and specifically with questions relating to how and why people exhibit a mixture of rational and irrational behavior. The seminar will examine the influence of economic psychology in the decision-making process of various agents as well as in the market's dynamics. Several guest lecturers will also offer their informed views in the development of contemporary finance. Class size: 15