91890

ECON 100 A

Principles of Economics

Michael Martell

T Th 1:30 pm-2:50 pm

ALBEE 106

SSCI

Cross-listed: Economics & Finance; Global & International Studies Related interest: Environmental & Urban 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: 20

91891

ECON 100 B

Principles of Economics

Felipe Rezende

M W 10:10 am-11:30 am

OLIN 205

SSCI

Cross-listed: Economics & Finance; Global & International Studies See above. Class size: 22

91893

ECON 100 C

Principles of Economics

Aniruddha Mitra

T Th 10:10 am-11:30 am

ALBEE 106

SSCI

Cross-listed: Economics & Finance; Global & International Studies See above. Class size: 20

91892

ECON 100 D

Principles of Economics

Felipe Rezende

T Th 3:10 pm-4:30 pm

ALBEE 106

SSCI

Cross-listed: Economics & Finance; Global & International Studies See above. Class size: 20

91904

ECON 201

Intermediate Microeconomics

Aniruddha Mitra

M W 8:30 am-9:50 am

OLIN 202

SSCI

Cross-listed: Economics & 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

91902

ECON 202

Intermediate Macroeconomics

L. Randall Wray

M W 3:10 pm-4:30 pm

ALBEE 106

SSCI

Cross-listed: Global & International Studies This course is the continuation of the introductory macroeconomics course. In it, students will get acquainted with main models that macroeconomists use to analyze the way economies behave. The course starts by looking at the models that explain long run economic growth. We then focus our attention on investigating economic theories that explain short run business cycles, the periods of recessions and booms that occur on a regular basis. An important part of the course is to investigate the role of governments in affecting the long run and short run economic prospects of their countries. We apply the acquired theoretical knowledge to a range of current economic issues, including budget deficits and national debt, international trade, and the role of institutions. Prerequisite: either ECON 100, or the combination ECON 101 / ECON 102, MATH 110. Class size: 20

91894

ECON 211

Economic Thought II

Liudmila Malyshava

T Th 10:10 am-11:30 am

OLIN 305

SSCI

The course explores the ideas of the greatest economic thinkers of the 20th century. We introduce the important ideas, present the context during which they were developed, and we compare those ideas. We cover economists such as Marshall, Keynes, Hayek, Sraffa, Veblen, Schumpeter, Galbraith and Nobel Prize recipients Samuelson, Friedman, Sen, Stiglitz and Krugman; schools of thought such as the New Keynesians, Post-Keynesians and New Classicals; and issues such as the business cycle, unemployment, inflation, free markets, and the role of governments. We emphasize the diversity of economic thought, and will allow you to better understand the origins of contemporary economic debates. History of Economic Thought I is a natural complement but not a prerequisite. Prerequisite: Econ 101 and 102 or permission of the instructor. Class size: 18

91895

ECON 212

Health Economics

Michael Martell

T Th 4:40 pm-6:00 pm

OLIN 204

SSCI

This course investigates health, health care services and related policies from an economic perspective. We will cover theories of the production, supply and demand for health and health care services with special emphasis on the theoretical implications for policy, particularly in the United States. We will approach the determinants and policy implications of health and health care services through neoclassical as well as heterodox schools of economic thought. As such, students will develop an understanding of the politics, social context and production of health and well-being. The course endeavors not to provide students with a set of 'facts' regarding systems of health provisioning in different contexts. Rather, the course will equip students with the analytical tools necessary for continued intellectual engagement in research and debates surrounding the economics of health. Students will study competing perspectives on the ability of markets to efficiently provision health care services. Further, we will cover economic theories related to health, such as the economics of information, in addition to institutional approaches that highlight the role of history and politics. As such, we will pay special attention to the historical development of health care services in the U.S. to provide an institutional account of the economic, historical and political aspects involved with the current health services market. The course will pay special emphasis to the application of the analytical tools developed in class to current trends and debates in the U.S. For example, we will critically investigate the widespread use of cost-benefit analysis in the implementation of federal rules and policies addressing public health. We will also discuss trends in healthcare expenditures, cost control mechanisms, healthcare reform proposals as well as issues of equity and ethics in access to (and delivery of) health care. Class size: 22

91896

ECON 214

Labor Economics

Michael Martell

W F 10:10 am-11:30 am

OLIN 101

D+J

SSCI

Cross-listed: American Studies; Gender and 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.

Class size: 22

91897

ECON 218

Asian Economic History

Sanjaya DeSilva

T Th 11:50 am-1:10 pm

ALBEE 106

HIST

Cross-listed: Asian Studies; Global & International 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

91898

ECON 223

International Trade

Sanjaya DeSilva

T Th 3:10 pm-4:30 pm

HEG 308

SSCI

Cross-listed: Economics & Finance; Global & International Studies International trade, the flow of commodities across international borders, is a ubiquitous feature of the contemporary global economy. This course provides an introduction to economic theories and concepts that help us understand why nations trade, who benefits and who loses from trade, and why trade is regulated. Each week, we will pose a question based on an issue of current interest (e.g. Does free trade contribute to widening the gap between the rich and the poor? Why does the US import Chevy cars from Canada? Should the US ban clothing imports from sweatshops in Bangladesh? Should Apple move the production of iPads from China to the US? Did NAFTA contribute to an increase in illegal immigration?) and develop theoretical tools that help us answer it. Theories will be drawn from a variety of perspectives and the analysis will be grounded in the historical and political context of each policy issue. Prerequisite: Econ 100. Class size: 22

92325

ECON 228

SOCIALLY RESPONSIBLE INVESTING

Taun Toay

T 4:50 pm – 6:10 pm

LEVY 201

SSCI

Cross-listed: Economics and Finance; Human Rights 2 credits Corporate environmental, social and governance (ESG) criteria have grown in recent decades both as important parts of a company's operations but also in investment criteria for profiteers and human rights advocates alike. In this class, students will learn about socially responsible investing, the interaction of institutions with corporate finance, and leveraging change through investing and stakeholder engagement. Such ESG criteria are often the basis for investment screens and rubric to assess company performance with respect to Human Rights, Environmental stewardship and Ethical corporate behavior. Student learn about all facets of ESG through case studies and reading on impact investing and design their own company engagement plan. This two credit course does not have prerequisites, but pairs nicely with both Foundations of Finance and/or the work of the Socially Responsible Investment Committee. Class size: 15

91945

ECON 229

Introduction to Econometrics

Sanjaya DeSilva

M W 1:30 pm-2:50 pm

ALBEE 106

MATC

Cross-listed: Economics & Finance; Environmental & Urban Studies; Global & International Studies This is the first of a two-course sequence designed to explore the tools economists use to summarize and interpret data. The first half of the course introduces the concepts of random variables, probability distributions, sampling, descriptive statistics and statistical inference. The second half of the course focuses on simple and multiple regression analysis. The emphasis is on acquiring a practical knowledge of econometric methods (theoretical foundations and advanced techniques are covered in Econ 329); students will learn how to organize and analyze data using Excel and STATA, how to read and interpret published empirical research, and how to carry out an empirical research project. This course fulfills the statistical methods requirement for the economics major. Prerequisite: Economics 100 and Pre-calculus. Class size: 18

91900

ECON 291

Foundations of Finance and Investments

Felipe Rezende

M W 1:30 pm-2:50 pm

HEG 201

SSCI

Cross-listed: Economics & Finance 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

91903

ECON 317

Industrial Organization

Aniruddha Mitra

M W 11:50 am-1:10 pm

ALBEE 106

SSCI

Cross-listed: Economics & Finance Industrial organization is the study of how industries function and how firms interact within an industry. While this is part of the general agenda of microeconomics, industrial organization distinguishes itself by its emphasis on the study of firm behavior in imperfectly competitive markets. The primary objective of this course is to investigate how firms acquire market power or the ability to influence the price of their product; the strategic behavior of firms that possess market power; and the effect of policy intervention in such industries. Prerequisite: Economics 201

Class size: 15

91899

ECON 329

Advanced Econometrics

Gautam Sethi

M W 10:10 am-11:30 am

ALBEE 106

SSCI

Cross-listed: Economics & Finance 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. Designed as an advanced continuation of Econ 229 (Introduction to Econometrics), this course provides a rigorous treatment of regression analysis. Topics include models and tests that deal with violations of classical assumptions, time series, panel data, structural models and limited dependent variables. In several research projects and assignments, students will use the econometric software STATA to analyze real world data. Prerequisite: Calculus I and Economics 229 or permission of instructor. A prior background in economics and statistics is assumed. Class size: 15

91901

ECON 350

Income Distribution Applied Research seminar

Liudmila Malyshava

W 10:10 am-12:30 pm

HEG 300

SSCI

Since the 1980s, income inequality has increased dramatically and is now the highest on record. More and more income goes to capital-owners and profits, not workers and labor, and since 2000, 95% of income gains have gone to the top 1%. There is much uncertainty regarding the causes and consequences of those trends, and the potential economic policies required. What explains this shift in the distribution of income? What are the roles of technology, international trade, finance, institutions and governance? Why has growth become so biased towards the very few? Is there a tradeoff between growth and equity? Through what processes is income created and distributed? What are extractive and predatory governments? Is inequality bad and if so, why? Is there such a thing as a balanced, or equitable growth and if so, what does it take? This course surveys landmark theories of economic growth and income distribution and is research-based through the reading of state-of-the-art journal articles and the writing of a term paper. A substantial component of the course involves data procurement and analysis and in-class work on laptops. We focus on the United States and provide international comparisons. Prerequisites: ECON 202 and ECON 229, or permission of the instructor. Class size: 15