Course:

ECON 100 A Principles of Economics

Professor:

Kris Feder  

CRN:

15581

Schedule/Location:

 Tue  Thurs    11:50 AM – 1:10 PM Reem Kayden Center 115

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 22

Crosslists: Economics & Finance; Global & International 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 Placement.

 

Course:

ECON 100 B Principles of Economics

Professor:

Michael Martell  

CRN:

15582

Schedule/Location:

Mon  Wed     3:30 PM – 4:50 PM Olin 201

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 22

Crosslists: Economics & Finance; Global & International 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 Placement.

 

Course:

ECON 100 C Principles of Economics

Professor:

Liudmila Malyshava  

CRN:

15583

Schedule/Location:

 Tue  Thurs    5:10 PM – 6:30 PM Reem Kayden Center 111

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 22

Crosslists: Economics & Finance; Global & International 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 Placement.

 

Course:

ECON 201  Intermediate Microeconomics

Professor:

Kris Feder  

CRN:

15584

Schedule/Location:

 Tue  Thurs    10:10 AM – 11:30 AM Reem Kayden Center 102

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 22

Crosslists: 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.

 

Course:

ECON 202  Intermediate macroeconomics

Professor:

Pavlina Tcherneva  

CRN:

15585

Schedule/Location:

Mon  Wed     11:50 AM – 1:10 PM Reem Kayden Center 111

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 20

Crosslists: 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.

 

Course:

ECON 203  Game Theory

Professor:

Aniruddha Mitra

CRN:

15992

Schedule/Location:

Mon  Wed     10:10 AM – 11:30 AM Aspinwall 302

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 18

Crosslists: Environmental & Urban Studies; Economics and Finance;  Global & International Studies; Political Studies

Game Theory is the study of how rational actors behave when they know that their actions hold consequences not just for themselves but for others as well and they are, in turn, affected by the actions taken by others. While the discipline has come to be regarded as a core area of economics, its applicability extends far beyond the analysis of economic behavior. The object of this course is to introduce you to the basics of game theory, emphasizing its generality as an analytical paradigm for social science. We shall, therefore, focus on a wide variety of applications taken from economics, political science, and the study of the environment. Prerequisite: MATH 110, Precalculus Mathematics, or a passing grade on Part II of the Math Placement Diagnostic.

 

Course:

ECON 212  Health Economics

Professor:

Michael Martell  

CRN:

15586

Schedule/Location:

Mon  Wed     5:10 PM – 6:30 PM Olin 301

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 16

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 alternative schools of thought.  As such, students will develop an understanding of the politics, social context and production of health and well-being.  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 and equitably provision health care services, the determinants of racial inequalities in health, and linkages between health and the structure of the economy.  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, context, 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 causes, consequences, and potential remedies for the uneven burden of COVID-19 across society as well as the political economy of pharmaceutical markets as they relate to the production and distribution of vaccines and other drugs.  We will also assess the widespread use of cost-benefit analysis in the implementation of federal rules and policies addressing public health. We will discuss current healthcare reform proposals including cost control mechanisms as well as those to address issues of equity and ethics in access to (and delivery of) health care. Prerequisite: ECON 100

 

Course:

ECON 218  Asian Economic History

Professor:

Sanjay DeSilva  

CRN:

15587

Schedule/Location:

Mon  Wed     5:10 PM – 6:30 PM Hegeman 308

Distributional Area:

HA Historical Analysis  

Credits: 4

 

Class cap: 22

Crosslists: 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.

 

Course:

ECON 227  The Right to Employment

Professor:

Pavlina Tcherneva  

CRN:

15588

Schedule/Location:

Mon  Wed     10:10 AM – 11:30 AM Campus Center WEIS

Distributional Area:

SA Social Analysis D+J Difference and Justice

Credits: 4

 

Class cap: 20

Crosslists: Africana Studies; American Studies; Environmental & Urban Studies; Human Rights; Sociology

In 1944, President Franklin Delano Roosevelt warned, “People who are hungry and out of a job are the stuff of which dictatorships are made.” Today, the COVID-19 crisis and mass unemployment have once again exposed the pervasive pathologies in the economy, such as inequality, poverty, and discrimination that reproduce systemic racial, gender and environmental injustice. Roosevelt responded to the economic calamity of his time—the Great Depression—with far-reaching economic policies and an appeal for what he called a Second (Economic) Bill of Rights that led with the right to decent and remunerative employment. “Jobs for All” was a signature demand during the Civil Rights era, when Martin Luther King, Jr. and Coretta Scott King insisted that unemployment is a key force for racial subjugation. Today, the Job Guarantee has been called perhaps the most crucial component of the Green New Deal Resolution, a program that ensures a just transition for all workers and an antidote to systemic racial and gender discrimination that emerges from labor markets.  This interdisciplinary course traces the history of the struggle to secure the right to employment for  all. It will focus on the economic, legal, and policy developments in the United States, and will introduce students to some international policy initiatives and innovative programs. A key question for discussion is whether these proposals and concrete policies have advanced the goal of equity and economic justice. Students will read legislative documents, economic analyses, policy proposals, and program reviews.  This course is part of the Racial Justice Initiative, an interdisciplinary collaboration among students and faculty to further the understanding of racial inequality and injustice in the United States and beyond.

 

Course:

ECON 229  Introduction to Econometrics

Professor:

Sanjay DeSilva  

CRN:

15589

Schedule/Location:

Mon  Wed     3:30 PM – 4:50 PM Hegeman 106

Distributional Area:

MC Mathematics and Computing  

Credits: 4

 

Class cap: 18

Crosslists: Economics & Finance; Environmental & Urban Studies; Global & International Studies

This course explores 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, and how to carry out an empirical research project. This course fulfills the statistical methods requirement for the economics major. Prerequisite: Economics 100, at least one other economics course and pre-calculus.

 

Course:

ECON 246  Global Imbalances

Professor:

Liudmila Malyshava  

CRN:

15659

Schedule/Location:

 Tue  Thurs    3:30 PM – 4:50 PM Olin 102

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 20

Crosslists: Global & International Studies

This policy-oriented course explores the evolution of a set of neoliberal globalization strategies commonly known as the Washington Consensus. Originating at the end of the 20th century, the Washington Consensus has remained the dominant policy prescription offered to the majority of the developing nations. The course focuses on the two main aspects of international economic relations – physical flows of commodities and capital (or financial) flows. We will explore contemporary debates surrounding the continuous tensions and conflicts between developing and developed economies that affect international policy choices. We will utilize an analytical framework that integrates economics and politics with the social and ideological context to help us to assess the true impact of the Washington Consensus and to explore alternative policy approaches. As a result, students should be able to identify interconnections and to find contradictions between (as well as within) different frameworks and policy suggestions. Prerequisite: ECON 100.

 

Course:

ECON 304  Macroeconomic Stability

Professor:

L. Randall Wray  

CRN:

15590

Schedule/Location:

 Tue      3:10 PM – 5:30 PM Blithewood – Levy Institute

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 22

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 Keynes’s investment theory of the business cycle and Hyman P. Minsky’s 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

 

Course:

ECON 319  Developing Cities

Professor:

Sanjay DeSilva  

CRN:

15591

Schedule/Location:

   Thurs    3:10 PM – 5:30 PM Olin 303

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 15

Crosslists: Environmental & Urban Studies; Global & International Studies

Economic theorists and policymakers have long worked under the assumption that developed economies are urban and industrial while developing economies are rural and agricultural. This historical dichotomy is no longer meaningful. Today, a majority of the world’s people live in urban areas, not just in the West but also in the developing regions of Latin America and the Caribbean, Europe and Central Asia, East Asia and the Pacific, and Middle East and North Africa. Almost all of the world’s future urban growth will occur in developing economies, and much of this growth will be concentrated in mega-cities; already, of the 27 urban areas that have more than 10 million people, 22 are in developing economies. This dramatic urbanization of the developing world offers tremendous opportunities and poses difficult challenges. This research seminar will introduce upper college students to the economics literature on important urban issues: for example, causes of urban growth; spatial patterns of growth; rural-urban migration; industrial and post-industrial cities; urban inequality; informality, property rights and political representation; infrastructure and urban renewal; congestion, pollution and other environmental problems. The seminar will be organized around student-led independent and group research on these themes. Prerequisites: Moderation in economics or EUS and prior coursework in economics, or permission of instructor.

 

Course:

ECON 326  Economics of Conflict

Professor:

Aniruddha Mitra  

CRN:

15966

Schedule/Location:

   Mon    12:30 PM – 2:50 PM Olin 102

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 15

This course explores the economic literature on conflict, focusing primarily though not exclusively on civil war. We start with the central question: if conflict takes such a toll on society, why does it occur? In other words, is the decision to go to war a rational choice? We use this to explore the causes of internal conflict, paying particular attention to the debate on whether it is grievance or opportunity that predicts the onset of collective violence. This leads naturally to an investigation of the essentially intertwined role of economic inequality, ethnic fragmentation, and natural resource endowments on the occurrence of conflict. We then move on to an exploration of the lasting consequences of conflict, emphasizing the fact that war is essentially a gendered phenomenon. We end the course by looking at policies that help in the post-war reconstruction of societies and prevent the recurrence of conflict. Prerequisite: ECON 100

 

Course:

ECON 390  Contemporary Developments in Finance

Professor:

Dimitri Papadimitriou  

CRN:

15882

Schedule/Location:

 Tue      9:10 AM – 11:30 AM Hegeman 106

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap: 15

Crosslists: 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.

 

Cross-listed courses:

 

Course:

ANTH 228  Economic Anthropology

Professor:

Duff Morton  

CRN:

15574

Schedule/Location:

 Tue   Fri   1:30 PM – 2:50 PM Olin 203

Distributional Area:

SA Social Analysis  

Credits: 4

 

Class cap 23

Crosslists: Economics

 

Course:

EUS 226  Environmental Modeling

Professor:

Gautam Sethi  

CRN:

15597

Schedule/Location:

 Tue  Thurs    3:30 PM – 4:50 PM Reem Kayden Center 101

Distributional Area:

MC Mathematics and Computing  

Credits: 4

 

Class cap 22

Crosslists: Economics; Mathematics