This course begins with an examination of 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. 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 the government should use monetary and fiscal policy to try to "fine tune" the economy and what the likely effects of such government involvement are. ECON 101 and 102 may be taken in either order.

An examination of the logic of constrained choice, with a focus on the economic behavior of individuals and organizations. The mechanics of the price system are analyzed in terms of demand (utility) and supply (cost). The characteristics of alternative market structures, from pure competition to monopoly, are derived and evaluated. The conditions under which markets allocate resources efficiently are worked out, and several causes of market failure are examined. Simple graphical and mathematical methods (high-school level of difficulty) are developed, their use reinforced by a variety of applications. Questions of microeconomic analysis and policy raised by current events are debated. Econ. 101 and 102 may be taken in either order.

See above.

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.

A further development of principles and analytical methods introduced in Econ. 102: 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: Economics 102.

How do social scientists measure and interpret economic "inequality"? What does it mean when the government says that "poverty" has increased? Does economic theory have anything useful to say about "discrimination" against women and minorities? Which policies work to combat poverty and discrimination and which do not? These are some of the questions that we will be considering in this course. The class will be conducted primarily as a seminar based on readings drawn from professional articles and books, and a term paper will be required. Pre-requisite: Economics 202, or

permission of instructor.

Theories and measures of population as they pertain to economic and social spheres are developed and evaluated. The history of theories of population growth and population control and their consequences is traced from Malthus and Marx to Boserup, Simon, and Easterlin. Particular attention is paid to current population issues-fertility control, famine, ecological consequences of population pressure, and migration. Both domestic and international population policies are treated. Domestic issues involve migration and shifting demographics as evidenced by the latest census; international issues focus mainly on fertility control in developing countries. Math skills at the precalculus level are helpful.
Prerequisite: Economics 102

This course will discuss recent topics in international economics, including NAFTA, the Russian and Asian economic difficulties, the transition from communism to capitalism, the European Monetary Union, the problems faced by underdeveloped countries, and the dangers of volatile exchange rates.
Prerequisites: Economics 201 and 202, or permission of instructor.

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 consumed; 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 hypotheses testing. Students will have an opportunity to apply these tools to a variety of economic issues, including estimated production and cost functions.
Prerequisite: Economics 229 and one other intermediate Economics course.