Course	ECON 101 Introduction to Microeconomics
Professor	Sanjaya DeSilva
CRN	17018
Schedule	Wed Fr 1:30 -2:50 pm OLIN 202
Distribution	OLD: A/E/Q	NEW: Social Science

Cross-listed: Environmental Studies

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: eligibility for Q courses. On-line registration

Course	ECON 101E Experimental Microeconomics
Professor	Tsu-Yu Tsao
CRN	17019
Schedule	Tu Th 9:00 - 10:20 am OLIN 204
Distribution	OLD: A/E/Q	NEW: Social Science

Cross-listed: Environmental StudiesTraditionally, 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. Prerequisite: eligibility for Q courses. On-line registration

Course	ECON 102 A Introduction to Macroeconomics
Professor	Pavlina Tcherneva
CRN	17020
Schedule	Mon Wed 12:00 -1:20 pm OLIN 202
Distribution	OLD: A/E/Q	NEW: Social Science

Cross-listed: Global & Int’l 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 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. Prerequisite: eligibility for Q courses. On-line registration

Course	ECON 102 B Introduction to Macroeconomics
Professor	Pavlina Tcherneva
CRN	17021
Schedule	Mon Wed 3:00 -4:20 pm OLIN 202
Distribution	OLD: A/E/Q	NEW: Social Science

Cross-listed: Global & Int’l 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 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. Prerequisite: eligibility for Q courses. On-line registration

Course	ECON 115 Economic Dimensions of World Issues
Professor	Sanjaya DeSilva
CRN	17022
Schedule	Wed 10:30 - 11:50 am OLIN 101 Fr 10:30 - 11:50 am OLIN 204
Distribution	OLD: A	NEW: Social Science

Cross-listed: Global & Int’l Studies, Human Rights, Science, Technology & Society, Social Policy

This introductory course uses simple economic concepts to examine global and international issues of current and enduring interest. (Public issues in the U.S. are addressed in the fall semester companion course ECON 110). The aim of this course is to help students with little or no economics background to understand the economic dimensions of important social and political issues of the world. Topics will be drawn from a pool that includes the WTO and trade liberalization; European integration; regionalism (NAFTA, FTAA etc.); global warming, deforestation and other environmental issues; the role of multinational corporations and multilateral agencies such as the World Bank and IMF; the AIDS crisis in Africa; poverty and hunger; inequality within and between nations; the debt and currency crises of Latin America and East Asia; the recent economic stagnation of Japan; the transition from planning to markets in Eastern Europe and former Soviet Republics. The discussion of each topic will begin with a general review using materials from the popular media. This will be followed by a more detailed economic analysis using micro and macro economic concepts. Relevant theoretical models and principles will be introduced during the discussion. In addition to short essays, class presentations and team projects, students will be asked to maintain a weekly journal of relevant current events that are covered in the international media. On-line registration

Course	ECON 202 Intermediate Macroeconomics
Professor	Pavlina Tcherneva
CRN	17023
Schedule	Tu Th 9:00 - 10:20 am OLIN 203
Distribution	OLD: A/E	NEW: Social Science

Cross-listed: Global & Int’l Studies, Social Policy

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: Econ 102 (Introduction to Macroeconomics) On-line registration

Course	ECON 205 Introduction to Mathematical Economics
Professor	Kris Feder
CRN	17183
Schedule	Mon Wed 10:30 - 11:50 am OLIN 304
Distribution	OLD: E/Q	NEW: Mathematics & Computing

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; MATH141.

Course	ECON 210 History of Economic Thought
Professor	Kris Feder
CRN	17024
Schedule	Tu Th 1:00 -2:20 pm OLIN 107
Distribution	OLD: A/C	NEW: Social Science

Cross-listed: Global & Int’l Policy; 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.

Course	ECON 226 Urban and Regional Economics
Professor	Kris Feder
CRN	17184
Schedule	Tu Th 10:30 - 11:50 am OLIN 107
Distribution	OLD: A/E	NEW: Social Science

Cross-listed: American Studies, Environmental 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.

Course	ECON 229 Statistics
Professor	Andrew Pearlman
CRN	17026
Schedule	Mon Wed 9:00 - 10:20 am OLIN 204 Lab:  Mon   4:35 – 6:30 pm HDR 101A
Distribution	OLD: A/E/Q	NEW: Mathematics & Computing

Cross-listed: Environmental Studies, Global & Int’l Policy

The first of a two-course series designed to examine empirical economics, and a prerequisite for Economics 329, Econometrics. Basic concepts of statistics, probability, probability distributions, random variables, correlation, and simple regression are introduced; the techniques of statistical inference hypothesis testing are developed. Numerous examples and computer-based exercises are included. Prerequisite: Economics 101 or 102. On-line registration

Course	ECON 263 Population Economics and Demography
Professor	Sanjaya DeSilva
CRN	17187
Schedule	Tu Th 4:00 -5:20 pm OLIN 205
Distribution	OLD: A	NEW: Social Science

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 101

On-line registration

Course	ECON 317 Competition, Cooperation, and Information
Professor	Tsu-Yu Tsao
CRN	17028
Schedule	Tu 4:00 -6:20 pm OLIN 310
Distribution	OLD: A/E	NEW: Social Science

This course covers industrial organization, from traditional ideas to ideas on the frontier of economic research. The traditional literature addresses the industrial structure of the US economy and antitrust policy, monopolies, and anti-competitive behavior. More recent work examines the structure of firms, markets and organizations. Other topics include vertical integration and coordination, product differentiation and patents, bilateral bargaining and the market for lemons, auction and bidding, and theories of advertising. The theory is examined in the context of real world situations, both current and historical. Prerequisite: Economics 202 – Intermediate Economics On-line registration

Course	ECON 340 Contemporary Developments in Finance
Professor	Dimitri Papadimitriou
CRN	17188
Schedule	Fr 1:30 -3:50 pm OLIN 201
Distribution	OLD: A	NEW: Social Science

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. 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. On-line registration

Course	ECON 386 Health Economics
Professor	Andrew Pearlman
CRN	17189
Schedule	Mon Wed 3:00 -4:20 pm OLIN 307
Distribution	OLD: A	NEW: Social Science

Cross-listed: Science, Technology & Society, Social Policy

Why have health care costs increased so quickly?  How does a consumer with chest pain differ from a consumer in the market for a non-medical service?  How are those consumers similar?  What is the proper role for government in health care markets?  Do government health care programs work?  Where did HMOs come from, and have they made health care worse? Why does the U.S. have such amazing health technology but so many people without access to basic care?  Health spending is now 16% -- almost one-sixth -- of all U.S. output, far above the 5.3% level of 1960.  The health sector presents several peculiar challenges to basic economic theory: asymmetric information, the influence of insurance on demand, uncertainty and risk, imperfect competition, and extensive government intervention in health markets.  This course extends basic microeconomic theory in a topical approach to understanding the unique features of health care markets.  We begin with demand and supply for health outputs, and consider various methods for measuring the costs and benefits of health outcomes.  Subsequent topics address the information asymmetries in health services and insurance; the market for private health insurance (including managed care); features of physician and other labor markets; reasons for and effects of social insurance programs; and questions surrounding U.S. health care reform, including spiraling costs and incomplete access to care. Prerequisite: Economics 101 (Intro to Microeconomics). On-line registration

Course	ECON CONF Senior Conference
Professor
CRN	17030
Schedule	Mon Tu 5:00 -7:30 pm ALBEE 106
Distribution	OLD: n/a	NEW: n/a

Students writing Senior Projects in Economics will be required to attend the Senior Conference, which will meet not more than one evening every two weeks throughout the fall and spring terms. Not for credit.