Course Catalog

ECON 101

Basic Economic Principles

An introduction to modern economic analysis. A study of the principles of production and exchange, the distribution of income, money and banking, and national income analysis. Required of all majors in economics and recommended for all students planning business, legal, or public service careers.

1.00 units, Lecture

ECON 103

Fundamentals of Accounting

A review of accounting concepts and procedures, with particular emphasis on the reasoning behind methods of measuring and recording such items as depreciation and revenues. The implications of accounting theory and practice for the measurement of income and financial positions are investigated.
Senior economics and coordinate majors have first choice for enrollment, then junior economics and coordinate majors, then sophomores. Senior and junior non-majors need permission of instructor.

1.00 units, Lecture

ECON 201

Contemporary Economic Issues

This course will provide students with the analytical skills necessary and utilize basic theories of economics to expose the student to a number socio-economic issues and policies that we face today. Issues such as globalization, global warming, health care, crime, poverty, taxation, economics of discrimination, minimum wage, rent control, immigration, stock market and business cycles, and economics of terrorism will be discussed and analyzed. The objective is for the student to see how economics can be used to better understand the world around us. The emphasis is on applying the basic principles of economics to contemporary socio-economic issues in order to understand the application of economics in real life.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 202

Contemporary Macroeconomic Issues

Contemporary Macroeconomic Issues - Is all well with modern macroeconomics? Recent events have raised many questions for macroeconomists about the the way the economy works and the design of macroeconomic policy. This course examines a variety of contemporary macroeconomic issues from competing theoretical perspectives. Topics include: spending versus thrift and macroeconomic performance; the role of fiscal policy in a recession; the short and long term consequences of bailouts; and the role of money and finance in the economy.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 205

Hist Economic Thought

An introduction to the ideas and historical milieu of the major economists from pre-Classical periods to the modern period. Emphasis will be given to the Classical School (Smith, Ricardo, Malthus, Marx, Mill) and the marginalists. Keynes and developments after World War II will also be discussed. Prerequisite: Economics 101.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 207

Alternative Economic Systems

A comparative study of the major types of economic systems, such as markets and centrally planned economies. Also includes some case studies of smaller, stereotypical models of economic organization along with the effects of varying degrees of economic freedom.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 208

Asian Economics

Endowed with a huge population, few resources, and a recent history marked by recurrent wars and great social disorder, Pacific Asia scarcely seemed a promising setting for prosperity and modernization at the end of the last century or at the beginning of this century. However, led by Japan since the Meiji Restoration, economies in Pacific Asia have become the most dynamic in the world. As the economy of the United States has become increasingly linked to the markets and production zones of Pacific Asia, it is vitally important to have an understanding of why Pacific Asian economies have been growing so fast and what their impact is on the rest of the world. Main topics in this course include the evaluation of East Asia's economic performance in terms of total factor productivity and the debate on whether the East Asian miracle is true or not, the role of a market in allocating resources in these economies, their experience in using government intervention to correct market failures, China's effort to reform its central planning system, and its impact on the region and the world. Japan's competitiveness and its potential in the future, the emerging pattern of division of labor within this region as a whole, and its interaction with the rest of the world will be addressed as well.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 209

Urban Economics

Economic analysis of urban areas in the regional setting; the study of location theory, land use and housing markets, and of current public policy issues pertaining to urban problems including urban poverty, the economics of race and metropolitan areas, urban transportation, and local public finance. The resource allocation process will be emphasized.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

PBPL 209

Urban Economics

1.00 units, Lecture

ECON 214

Business and Entrepreneurial History

The evolution of business structures and practices, primarily in the American experience. Changes in such aspects of management, finance, marketing, and information are considered. Special attention is given to the role of entrepreneurs and conditions which may have influenced their creative efforts. Both an analytical approach and case studies are employed.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 215

The Economics of Everyday Life

Economics is about choice, and whenever humans (or non-humans) make choices, the fundamental principles of economics are apparent to those who know how to look. This course uses everyday choices to illustrate the principles of economics. We will examine a variety of behaviors from diverse settings--college, crime, anthills, sex, drugs, rock n' roll--to see how economics explains such divergent behavior.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

AFEC 216

Global Rivalry&Coordntn

No Course Description Available.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 216

Globalization, Rivalry, and Coordination

This course emphasizes the study of forces driving the observed trends in regional and global integration. Students will examine whether the world-wide division of labor can be explained by comparative advantage or by increasing returns to scale and externalities. Students will then examine the impact of integration on three growing world markets: commodities, capital, and labor. They will also delve into the role these markets play in generating frictions among nations. The course concludes with an examination of the role of a world trade organization, world financial system, and world foreign exchange system in facilitating the globalization process. Lessons will be drawn from history, particularly the collapse of the Bretton Woods System.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 217

Economics of Health and Health Care

This course is designed to provide an overview of key issues in the economics of health and health care using principles of economics, with an emphasis throughout on real-world problems. Topics to be studied will include: health care market structures; determinants of the demand for and supply of health care; the interrelationships between insurance, supply, demand, and technological innovation; proposed health policy reforms in insurance markets, medical malpractice, and other areas; and the analysis of public policies on unhealthy consumer behaviors (smoking, drinking, drugs).
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

PBPL 217

Econ of Hlth & Hlth Care

This course is designed to provide an overview of key issues in the economics of health and health care using principles of economics, with an emphasis throughout on real world problems. Topics to be studied will include: health care market structures; determinants of the demand for and supply of health care; the interrelationships between insurance, supply, demand, and technological innovation; proposed health policy reforms in insurance markets, medical malpractice, and other areas; and the analysis of public policies on unhealthy consumer behaviors (smoking, drinking, drugs). Prerequisite: Economics 101.

1.00 units, Lecture

AMST 218

Bus & Entrepreneur Hist

The evolution of business structures and practices, primarily in the American experience. Changes in such aspects of management, finance, marketing, and information are considered. Special attention is given to the role or entrepreneurs and conditions which may have influenced their creative effots. Both an analytical approach and case studies are employed. Prerequisite: Economics 101.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 231

Latin American and Caribbean Economic Development

This course examines and evaluates the major theories and leading issues in the study of economic growth and development in Latin America and the Caribbean during the 20th century. It focuses on the region's economic and historical links to industrialized nations as a key element in understanding the nature and direction of its economic growth and development. Topics include: theories of development; rural development and migration; state-led industrialization and structural transformation under import-substitution industrialization (ISI); debt, stabilization, and adjustment policies; neoliberal policies such as privatization and the deregulation of financial and labor markets; and trade liberalization, particularly the proliferation of preferential trading arrangements such as the North American Free Trade Agreement (NAFTA), the Southern Cone Common Market (MERCORSUR), the Caribbean Common Market (CARICOM), the Lome Convention, and the Central American Common Market (CACM).
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

AFEC 241

Issues in African Indust

No Course Description Available.

1.00 units, Lecture

ECON 243

Financial Markets Institutions

The purpose of the course is to provide a basic understanding of the role of financial institutions (intermediaries) and financial markets in facilitating the flow of funds between those who supply funds and those who demand funds. Topics include the role of banks, other financial institutions, and financial markets in this process. Special attention is also given to the European Monetary Union and other aspects of the international financial system.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 245

Regimes of Accumulation and Macroeconomic Regulation

This course addresses the historical development of capitalism emphasizing, in the process, the radical transformations that capitalist economies have undergone in the course of their growth and development. Particular emphasis will be placed on the rise and decline of the Golden Age (1945-1973), the accompanying comparative macroeconomic performance of advanced capitalist economies over the past 50 or so years, and the prospects for future growth and development in the capitalist economies of Asia, Europe, and North America.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 246

Economics of Social Life

Homos economicus has tended to be cast as fairly selfish person. How is it that such self-centered persons find a way to cooperate, at least some of the time? This class will explore how cooperation emerges out of selfish behavior in situations where it does not pay to cooperate. We will explore other social phenomena like discrimination and spatial separation, the development of group or "social capital," how identity can affect behavior, and how even utility maximizers base their decisions on the decisions of others (which casts doubt on the idea of autonomous persons). We will consider altruism, hatred, and social norms using the traditional tools of economic analysis.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 247

Introduction to Policy Analysis

This course will introduce students to the basic ingredients of policy analysis rooted in the microeconomics of externalities (social, economic, and political), public goods, common property, information failure, absence of competition, and distributional concern. This course is not open to students who have previously earned credit for Economics 306 or Economics 311.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 248

Current Issues in the Global Economy

This course examines the multiple dimensions of economic globalization that are bringing about the ever-closer integration of national economies into one global world economy, and the accompanying fissures and conflicts that globalization has given rise to. Guided by modern economic theory, it will introduce students to multiple perspectives on the most prominent debates in the contemporary global and domestic economic arenas. We will analyze the dynamics of the world of global finance, the sources and consequences of the current financial crisis, the controversy surrounding free trade and labor rights, outsourcing, and finally, international migration. Within this context, we will pay special attention to key factors such as hedge funds, institutional investors, multinational corporations, and labor unions, and to the ways in which the dynamics of the global economy affect developed countries vs. emerging markets.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 249

The Political Economy of Western Civilization

This course presents the political and economic development of the market economy and commercial society in Western Civilization over the last 400 years. Its focus is on the classical liberal ideas that influenced the historical-institutional evolution from a society of status and class to one of contract and market association. The socialist and nationalist critiques of classical liberal society are evaluated in the context of the actual historical developments in Western society, and the reality of collectivist central planning in practice during the 20th century. Finally, the revival of market liberalism is evaluated in the context of the new global economy of the 21st century.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 299

Independent Study

Submission of the special registration form, available in the Registrar's Office, and the approval of the instructor and chairperson are required for enrollment.
Prerequisite: C- or better in Economics 101.

1.00 units min / 2.00 units max, Independent Study

ECON 301

Microeconomic Theory

A study of the determination of the prices of goods and productive factors in a market economy and the role of prices in the allocation of resources. Required of all majors in economics.
Prerequisite: A grade of C- or better in Economics 101. In addition C- or better in one 200 level economics course or sophomore or higher class standing. Concurrent enrollment in Economics 301 and Economics 302 is not allowed.

1.00 units, Lecture

ECON 302

Macroeconomic Theory

An analysis of aggregate income, output, and employment, which includes the following topics: national economic accounts; theories of consumption; investment and money; Keynesian and Classical models; the monetary-fiscal debate; inflation, unemployment and growth. Required of all majors in economics.
Prerequisite: A grade of C- or better in Economics 101. In addition C- or better in one 200 level economics course or sophomore or higher class standing. Concurrent enrollment in Economics 301 and Economics 302 is not allowed.

1.00 units, Lecture

ECON 303

Labor Economics

An examination of a number of the important issues in modern labor economics. Topics include (but are not limited to): the determinants of labor supply, with special emphasis on the growth of women's labor supply during the last century; the demand for labor and the determination of wages; discrimination in labor markets.
Prerequisite: C- or better in Economics 101 and 301.

1.00 units, Lecture

ECON 304

Law and Economics

The notion that legal rules of property, contract and tort create implicit prices on different sorts of behavior underlies the economics approach to the study of law. This course brings together two disciplines (economics and law) to examine fundamental rules governing an exchange economy. Topics to be covered include property, torts (non-criminal harm or injuries), contract and crime. Each of these areas of law involves issues of efficiency and equity. Please note, this is not a course in law but in the economics of law.
Prerequisite: C- or better in Economics 101; 301 advised, but not required for the legal studies minor.

1.00 units, Lecture

ECON 306

Public Finance: Economics of the Public Sector

An examination of the role of tax and public expenditure policies as they influence the allocation and distribution of resources, and on the role of market imperfections as rationales for government policies. Emphasis is on the effects of taxation and public spending on consumer and producer choices.
Prerequisite: C- or better in Economics 101 and 301.

1.00 units, Lecture

ECON 308

Industrial Organization and Public Policy

The course is divided into two parts. The first part consists of an examination of the structure of American industry including a critical analysis of the empirical evidence underlying the extent of competition, oligopoly, and monopoly within the United States. Comparisons are made with other industrialized nations and a number of specific industries are examined in detail. The second part of the course consists of an examination of public policy toward monopoly with specific emphasis on regulation and antitrust policy.
Prerequisite: C- or better in Economics 101 and 301. (Calculus recommended, but not required)

1.00 units, Lecture

ECON 309

Corporate Finance

Valuation, the development of the modern theory of finance; efficient market hypothesis; portfolio theory; capital budgeting; cost of capital; corporate securities; the securities markets; and other selected topics in finance.
Prerequisite: C- or better in Economics 101 and either Economics 301 or Economics 302. Math 107 is strongly recommended and Economics 103 is recommended.

1.00 units, Lecture

ECON 310

Money and Banking

An analysis of monetary theory, institutions and policy including the nature, role and significance of money, financial markets and institutions, commercial banking and the money supply process, the Federal Reserve System, and the formulation and implementation of monetary policy, monetary theory, and related policy issues.
Prerequisite: C- or better in Economics 301 and 302.

1.00 units, Lecture

ECON 311

Environmental Economics

An examination of the relationship between economic growth and the quality of the environment; the economic theory necessary for understanding environmental problems; analysis of proposed means, such as effluent charges, for correcting these problems; the application of cost-benefit analysis to selected environmental issues.
Prerequisite: C- or better in Economics 101 and 301.

1.00 units, Lecture

ECON 312

Mathematical Economics

This course is designed to introduce students to the application of mathematical concepts and techniques to economic problems and economic theory.
Prerequisite: C- or better in Econmics 301, Economics 302, and Mathematics 126 or Mathematics 131 (or concurrent enrollment in one of these two math courses).

1.00 units, Lecture

ECON 313

Structural Reform in Latin America: The Experiences of Argentina, Brazil, Chile, and Mexico

This course examines and evaluates the economic and political impact of the market-oriented reforms being implemented in four of the strategically important countries of the region. Topics include: origins of the interventionist state; state-led industrialization and structural transformation; the rise of populism and economic policy; monetarism and structuralism; stabilization and adjustment policies; trade liberalization and financial deregulation; and the evolution, rationale, and impact of privatization.
Prerequisite: C- or better in Economics 101 and an Economics 200-level course or another social science course dealing with developing nations. Economics 301 and 302 are strongly recommended.

1.00 units, Lecture

ECON 314

Cost-Benefit Analysis

This unit will provide participants with an introduction to the theory and practice of cost-benefit analysis (CBA). The conceptual basis of discounting and the valuation of benefits and costs will be reviewed, highlighting the links to basic economic theory. The principles of CBA will be illustrated through the analysis of contemporary cases from areas such as environmental management, health economics, government regulation, and infrastructure development. The emphasis will be on providing participants with a simple but robust analytical framework that can be applied to the evaluation of a wide range of public policy issues and private projects.
Prerequisite: C- or better in Economics 101 and Ecomomics 301.

1.00 units, Lecture

PBPL 314

Law and Economics

The notion that legal rules of property, contract and tort create implicit prices on different sorts of behavior underlies the economics approach to the study of law. This course brings together two disciplines (economics and law) to examine fundamental rules governing an exchange economy. Topics to be covered include property, torts (non-criminal harm or injuries), contract and crime. Each of these areas of law involves issues of efficiency and equity. Please note, this is not a course in law but in the economics of law. Prerequisite: Economics 101; Economics 301 advised but not required for the Legal Studies minor.

1.00 units, Lecture

ECON 315

Theories of International Trade

An examination of the major theories of international trade, beginning with the classical and neoclassical models of international trade and concluding with a survey of the various alternative models of international trade developed over the past three decades. An analysis of commercial policy, preferential trading agreements and other contemporary policy issues in the international economy will be included.
Prerequisite: C- or better in Economics 101 and 301.

1.00 units, Lecture

ECON 316

International Finance

This course examines the major theoretical and policy issues faced by business firms, the government, and individual investors in their international financial transactions. Topics include the following: basic theories of the balance of payments, exchange rates, and the balance of trade; interest rates and interest parity; alternative exchange rate systems; and recent developments in the international money markets.
Prerequisite: C- or better in Economics 101 and Economics 302.

1.00 units, Lecture

ECON 317

Development Economics

Various hypotheses on the persistence of underdevelopment observed in most developing economies will be examined. Then the successes of some developing economies in their modernization will be discussed. Attention will also be given to such important issues as industrialization, demographic change and urbanization, growth in income and its distribution, international trade and finance, development strategies, the government role in promoting development, and the impact of foreign aid.
Prerequisite: C- or better in Economics 101 and an Economics 200-level course or another social science course dealing with developing nations. Economics 301 and 302 are strongly recommended.

1.00 units, Lecture

ECON 318

Basic Econometrics

The formulation and estimation of models; topics include a review of basic concepts and results of statistical inference, single equation regression model, functional forms, problems of estimation, and simultaneous equation models. The computer will be used but no experience is necessary.
Prerequisite: C- or better in Economics 101 and Mathematics 107.

1.00 units min / 1.25 units max, Lecture

ECON 320

Contemporary Issues in Macro Theory

This course consists of three main sections: depressions and slumps; hyperinflation and currency crises; successes and failures in transforming Eastern Europe and Asia. Each of these sections will introduce case studies, explore theory, investigate potential causes and consequences, and discuss the related aspects of macroeconomic policy. Economic theory and empirical observation generally suggest that while economies are predisposed to short-run fluctuations, they tend to return to some “normal” state over time. Experience, however, suggests that there are important exceptions, such as prolonged periods of negative growth, or bouts of hyperinflation. The existence of such economic pathologies raises some obvious questions: Are they the result of unusually large adverse shocks, improper policies, a dysfunction of the correction mechanism that usually leads the economy back to its normal state, or something else? Are there policies that have been identified as effective in preventing or softening the adverse effects of such pathologies?
Prerequisite: C- or better in Economics 101 and Economics 302.

1.00 units, Lecture

AMST 321

Amer Economic History

A survey of the growth of the American economy from pre-Columbian times to the present. Special attention will be given to the issues of economic growth, industrial development, the economy of the antebellum South, transportation and commerce, the rise of cities, and the impact of major wars on the economy. Prerequisite: Economics 101.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 321

American Economic History

1.00 units, Lecture

ECON 322

Cities and Comparative Economic Development:The Case Study of Renaissance Florence

We will examine the building of Renaissance Florence through the theoretical lens of institutional economics. From our exploration of the city over a 200 year period, we will gain an understanding of the general economic setting and the specific institutional mechanisms for growth which made the renaissance in building, sculpture and painting possible. We will gain an appreciation for the city as an important agent of economic and cultural development. The course is divided into three sections; A theoretical overview of institutional economics; A case study of Renaissance Florence: and a concluding synthesis that asks students to present their own analysis of Renaissance Florence.
Prerequisite: C- or better in Economics 101 and Economics 302.

1.00 units, Lecture

ECON 323

Theories of Economic Growth

Rates of economic growth vary considerably over time, and between countries over time. This course examines models of economic growth in the light of these "stylized facts." Topics include the Harrod model, traditional neoclassical growth theory, Post-Keynesian growth theory, and "endogenous" growth theory.
Prerequisite: C- or better in Economics 301 and 302.

1.00 units, Lecture

ECON 328

Applied Econometrics: Micro-econometrics

Application and extensions of basic econometric tools. Topics include analysis of panel data, maximum likelihood estimation, analysis of discrete and limited response data, analysis of count data, sample selection, and duration of models.
Prerequisite: C- or better in Economics 318.

1.00 units, Lecture

ECON 329

Applied Macroeconomics

This course is designed to extend and develop students' understanding of macroeconomics beyond the intermediate (Economics 302) level. Discussion will focus on current macroeconomic events and issues in macroeconomic policy, and will proceed through the development of macroeconomic models, discussion of their results and policy implications and scrutiny of the empirical evidence presented in their defense. Questions addressed will include: Why is unemployment so much higher in Europe than in the United States? Was a decline in the Non-Accelerating Inflation Rate of Unemployment (NAIRU) responsible for the reductions in unemployment and inflation witnessed during the late 1990s? Does household indebtedness pose problems for future economic recovery? Why did productivity growth accelerate during the 1990s? How is monetary policy conducted and how does it affect macroeconomic outcomes?
Prerequisite: C- or better in Economics 301, 302, and 318.

1.00 units, Lecture

ECON 330

Public Choice

This course examines the application of economic theory to political science. Topics covered will include voting models, Arrow's impossibility theorem, elections, collective action, rent seeking and special interest groups, the social contract, and distributive justice.
Prerequisite: C- or better in Economics 101 and Ecomomics 301.

1.00 units, Lecture

ECON 331

Economic Organizations in the Early American Colonies

Students in this seminar will study various economic systems in the early history of the American colonies. An emphasis will be placed on the economic structures in certain colonies such as New Amsterdam and how they compared to other regions at that time. Students will explore the interplay between the different economic ideas and systems of property rights, and discuss to what extent those factors influenced policy and economic performance in early colonial America.
Prerequisite: Students must pass Economics 301 and 302 with a grade of C- or better. Open to senior economics majors only.

1.00 units, Seminar

ECON 332

The Rise of Capitalism in Renaissance Florence

This course will move through time in Italian history - with a focus on Renaissance Florence – to investigate the rise and development of monetary institutions and well-organized financial systems in Italy. Woven throughout the course will be attention to topics such as the rise of commerce, the accumulation of wealth, the limits to entrepreneurship, and the relative role of private and public institutions in the development of the economy. The course will include weekly walking tours through the heart of historical Florence, with a little time for cappuccino and gelato along the way. Approved for Summer 2005 only.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 333

History of Economic Thought

The course presents an overview of the evolution of economic ideas from the ancient Greeks and Romans through the development of modern microeconomics and macroeconomics in the 20th century. The classical economics of Adam Smith, David Ricardo, and Thomas Malthus are explained, along with the ideas of Karl Marx. The “marginalist revolution” of the 1870s serves as the basis for tracing the evolution of modern theories of the logic of choice, markets, prices, competition, and the firm. In addition, the emergence of modern macroeconomics will be analyzed from the Keynesian Revolution of the 1930s to “counter-revolution” of monetarism and new classical economics in the 1960s and 1970s, as well as from the revival of “Austrian” macroeconomics.
Prerequisite: C- or better in Economics 101 and Ecomomics 301.

1.00 units, Lecture

ECON 334

Cities and Comparative Economic Development

We will examine the economy of cities through the theoretical lens of institutional economics. From our exploration of various cities, we will gain an understanding of the specific institutional mechanisms for growth within an urban setting and an appreciation for the city as an important agent of economic and cultural development. The first section presents a theoretical overview of institutional economics, including the ideas of cumulative causation and a discussion of the nature of cities and the relationship between cities and economic development. This general framework creates the base on which we will build our case studies. The second section begins by exploring the case study of Renaissance Florence. One of the central concerns will be the role that capitalist institutions played in the economic development and growth dynamic of the early modern Florentine economy. Our investigation will then turn to Amsterdam, London, and eventually Hartford. The final section of the course will ask students to present their own analysis of the development of Hartford in which they apply and synthesize the ideas of the first two sections of the course in order to reach their own evaluation and conclusions.
Prerequisite: C- or better in Economics 101 and Economics 302.

1.00 units, Lecture

ECON 335

Topics in Macroeconomics

1.00 units, Lecture

ECON 399

Internship Seminar

Offered to students who are engaged in business related internships.

0.00 units, Seminar

ECON 401

Independent Study in Quantitative Applications

Submission of the special registration form, available in the Registrar's Office, and the approval of the instructor are required for enrollment.
Prerequisite: C- or better in Economics 318.

0.50 units min / 1.00 units max, Independent Study

ECON 466

Teaching Assistantship

Submission of the special registration form, available in the Registrar's Office, and the approval of the instructor and chairperson are required for enrollment. Cannot be used for major credit.

0.50 units min / 1.00 units max, Independent Study

ECON 497

Senior Thesis

No Course Description Available.

1.00 units, Independent Study

ECON 498

Senior Thesis Part 1

Written report and formal presentation of a research project. Open to all senior majors and required of all students who wish to earn honors in economics. A student who intends to write a thesis must locate a thesis adviser, and must submit a preliminary proposal to the thesis adviser by the last day of classes in the spring semester of the junior year. A final proposal must be submitted to the thesis adviser by final registration in the fall semester of the senior year. Submission date of the thesis is the third Thursday following spring recess. Seniors who undertake Economics 498-99 will be excused from Economics 331. Studies in Social Policies and Economic Research. In addition to the final proposal, submission of the special registration form available in the Registrar's Office and the approval of the instructor and chairperson are required for each semester of this year-long thesis. (2 course credits are considered pending in the first semester; 2 course credits will be awarded for completion in the second semester.) Prerequisites: Economics 301 and 302.

2.00 units, Independent Study

ECON 499

Senior Thesis Part 2

Written report and formal presentation of a research project. Open to all senior majors and required of all students who wish to earn honors in Economics. A student who intends to write a thesis must locate a thesis adviser, and must submit a preliminary proposal to the thesis adviser by the last day of classes in the spring semester of the junior year. A final proposal must be submitted to the thesis adviser by final registration in the fall semester of the senior year. Submission date of the thesis is the third Thursday following Spring Recess. Seniors who undertake Economics 498-99 will be excused from Economics 331, Studies in Social Policies and Economic Research. In addition to the final proposal, submission of the special registration form available in the Registrar's Office and the approval of the instructor and chairperson are required for each semester of this year-long thesis. (2 course credits are considered pending in the first semester; 2 course credits will be awarded for completion in the second semester.) This fulfills part two of the writing intensive (WI) requirement for Economics. Prerequisite: Economics 301 and Economics 302

2.00 units, Independent Study

ECON 500

Economic Principles

No Course Description Available.

1.00 units, Lecture

ECON 801

Basic Economic Principles

The study of basic economic principles pertains to the operation of the pricing system, income distribution, national income analysis, and monetary and fiscal policy.

1.00 units, Lecture

ECON 803

Microeconomic Theory

A study of resource allocation and product distribution in a market system. Market behavior is analyzed in terms of the determinants of demand, supply, the logic of the productive process, and the institutional structure of markets.

1.00 units, Lecture

ECON 805

Macroeconomic Theory

An analysis of aggregate income, output, and employment, which includes the following topics: national economic accounts, theories of consumption, investment and money, Keynesian and Classical models, the monetary-fiscal debate, inflation, unemployment and growth.

1.00 units, Lecture

ECON 806

Financial Accounting Valuation and Measurement

Review of concepts and methodology in financial accounting. Particular attention is devoted to the exploration of different accounting measurement theories and the impact these theories have on corporate financial reporting. Ability to interpret, analyze, and evaluate financial accounting information is developed through problems and cases stressing the preparation, utility, and limitations of such information.

1.00 units, Lecture

ECON 807

Public Finance

An examination of the Federal budget, of the tax system of the United States, and of Fiscal Federalism, with special reference to the allocation, distribution, and stabilization objectives of specific taxes and expenditures. Analyses of the theory of public goods and of externalities, of private market failure, and of government corrective action. Actual policies will be evaluated in the context of the analytical framework developed in the course.
Prerequisite: Economics 803.

1.00 units, Lecture

ECON 809

Cost-Effectiveness Ana

No Course Description Available.

1.00 units, Lecture

ECON 810

Corporation Finance

The development of the business unit, working capital management, capital budgeting, cost of capital; portfolio theory; corporation securities; the securities markets; mergers and reorganization.
Prerequisite: Economics 803.

1.00 units, Lecture

ECON 811

Money and Banking

The nature, significance, and functions of money; monetary standards; the role and operations of commercial banks; central banking and the Federal Reserve System; the Treasury and the money market; foreign exchange and international finance; monetary theory.
Graduate Prerequisite: Economics 805. Undergraduate prerequisite: C- or better in Economics 301 and Economics 302. Permission of Instructor required.

1.00 units, Lecture

ECON 813

Mathematical Economics

An introduction to the basic mathematical tools of economics, including differentiation, optimization, constrained optimization, and comparative statics. The class will stress not only the ability to solve given models but also to formulate models independently. Additional topics may include linear programming, game theory and differential equations. Note: Prerequisite: ECON 803.

1.00 units, Lecture

ECON 814

Analysis of Financial Markets

This course will emphasize the role of financial institutions in affecting the flow of funds through the money and capital markets. Topics include: the portfolio behavior of financial intermediaries, the yield curve and term structure of interest rates, an analysis of short-term Federal Reserve behavior and its impact on the financial markets, seasonal liquidity patterns and their impact on the financial system, techniques of financial market forecasting, the efficient market hypothesis, and the role of rational expectations.
Prerequisite: Economics 803.

1.00 units, Lecture

ECON 815

International Trade

No Course Description Available.

1.00 units, Lecture

ECON 816

Business Cycles

This course analyzes the nature of and explanations for business cycles in modern macroeconomic theory and policy, including the quantity theory of money, Keynesian Economics, the Austrian School, Monetarism, New Classical Economics, and New Keynesianism. The historical patterns of business cycles will be studied in the context of these competing theories, and their relevance in terms of the current economic crisis. Undergraduates who wish to enroll must obtain permission from their advisor and the instructor.
Graduate Prerequisite: Economics 805. Undergraduate prerequisite: C- or better in Economics 301 and Economics 302. Permission of Instructor required.

1.00 units, Seminar

ECON 817

International Finance

An analysis of balance of payments, the international money market, international monetary standards, international equilibrium and the mechanism of adjustment, exchange variations, and the objectives of international monetary policies.
Prerequisite: Economics 803 and Economics 805.

1.00 units, Lecture

ECON 818

Econometrics

No Course Description Available.
Prerequisite: C- or better Economics 821 or permission of instructor.

1.00 units, Lecture

ECON 820

Union-Mgmt Relations

No Course Description Available.

1.00 units, Lecture

ECON 821

Methods of Research

This course develops techniques useful in economic research. Topics include: time series analysis, probability, hypothesis testing, non-parametric statistics, an introduction to regression analysis, decision and game theory. Economics 803 recommended or permission of instructor required.

1.00 units, Lecture

ECON 822

Economics of Financial Regulations

This course treats the economics of financial regulation in the context of global capital markets and financial intermediaries. The economic rationale for regulation (externalities at both the micro and macro level) is contrasted with the neoclassical rationale for unfettered competitive markets. The theoretical exposition is applied in detail to the money and capital markets, both primary and secondary, as well as to the major participating financial intermediaries, i.e., deposit type institutions, brokerage and investment banking firms, insurance companies and pension funds.
Prerequisite: Economics 803 and Economics 805.

1.00 units, Lecture

ECON 823

Fin Refrms Post-Sov Econ

No Course Description Available.

1.00 units, Lecture

ECON 824

Indust Organ & Pub Polcy

No Course Description Available.

1.00 units, Lecture

PBPL 824

Indust Organ & Pub Polcy

No Course Description Available.

1.00 units, Lecture

ECON 825

American Economic History

This course attempts to provide the student with a basic, yet thorough understanding of the growth and development of the American economy. The course will first discuss the methodological approaches of economic historians and introduce basic concepts used to understand and measure economic growth and change. It will then analyze the colonial economy, early national and ante-bellum years, the reunification era, and the emergence of a modern U.S. economy. The analysis will focus on key economic sectors - money and banking, agriculture, commerce, labor, and government - with special attention given to problems and issues in the financial and monetary sector.
Prerequisite: Economics 801 or permission of the instructor.

1.00 units, Lecture

ECON 826

The Russian Economy

A study of Russia's economic development beginning with the industrialization efforts of the late Tsarist period and concluding with the post-socialist transformation. Examination of the Soviet period will include the New Economic Policy of the 1920s, the Stalinist model of central planning, early reform attempts, and, lastly, the perestroika period from 1985-1991. Substantial attention will be devoted to the current transitional period. Prerequisite: Economics 101.
Prerequisite: C- or better in Economics 101.

1.00 units, Lecture

ECON 827

China's Transition to a Market System

This course will examine China’s decades-long experiment with the central planning system (CPS) and the economic problems and political forces, such as asymmetric information, moral hazard, government failure, and supply/demand disequilibria, that contributed to the system’s stagnation and eventual overhaul. The course analyzes and contrasts China’s approach to reform with the 'shock theory' approach and other issues and problems that China must yet address to complete its transition to a full and genuine market system.
Prerequisite: Economics 803 or Economics 805

1.00 units, Seminar

ECON 828

Constitutional Political Economy

In this course we will apply the tools of economic analysis to constitutional provisions. We will examin the incentives created by rules, and the likely outcomes. The intent of the course is to consider what is possibly the single most important question: "Is it possible to design a government with the power to protect its citizens, but no the power to oppress them?" 1) Analyze a provision or clause of the U.S. Constitution in the context of the intentions of the original framers. 2) Propose a Constitutional provision of your own design and explain its intended, and likely consequences. The later part of the course would be primarily a seminar in which the constitutional provisions under consideration are discussed. The class will also follow developments in the European Union, which is currently experiencing a constitutional moment. NOTE: This Economics course counts towards the Publc Policy Program.

1.00 units, Seminar

ECON 833

Law and Economics

In this course, students will learn the techniques developed by the branch of economics known as law and economics. The efficiency of the law on torts, contracts, property and criminal behavior will be evaluated using economic analysis. Topics will include but are not limited to the following: use of the negligence standard, products liability, efficient breach, limitations on the rights of contract, pollution control, intellectual property rights, government takings, victimless crime, capital punishment and the necessity of criminal law.
Prerequisite: Economics 803 and for undergraduates a C- or better in Economics 301 and Permission of the instructor.

1.00 units, Seminar

ECON 834

Public Choice Economics

The tools of analysis typically used to study private markets are extended to analyze political markets. Voters, politicians and bureaucrats are assumed to be rational and self-interested. Sources of political market failure are examined. Note: Prerequisite ECON 801, or permission of the instructor.

1.00 units, Lecture

ECON 835

Experimental Economics

Do people really respond to incentives the way economic theory suggests they will? Experimental Economics seeks to answer that question. Vernon Smith was awarded the Nobel Prize in Economics in 2002 for his pioneering work in this field. The course involves conducting in-class experiments and analyzing the outcomes. Students will also design and conduct their own experiments and share their results.
Prerequisite: Economics 801 or permission of the instructor.

1.00 units, Seminar

ECON 846

The Economics of War

This course will investigate the contribution of economics to understanding war: why wars occur, why ethnic conflict spreads, why alliances are often lop-sided, what might the current war cost, and similar topics. Economic understanding of war goes back at least to Keynes (Economic Consequences of the Peace) and J.K. Galbraith's studies of the effect of bombing in WWII.

1.00 units, Lecture

ECON 847

Issues in International Finance

This course focuses on assessing the impact on financial markets, exchange rates, prices, interest rates, output and national policies of economic and financial disturbances around the globe. It will examine economic models and empirical evidence on the determinants and stability of foreign exchange rates; asset markets and portfolio choice in integrated financial markets; the role of the banking sector in financial and currency crises and the causes and consequences of sovereign debt crises. It is especially relevant for students with career interests in all areas of the financial services industry, in the finance/treasury function of corporations and in policy analysis for government agencies and consulting firms.
Prerequisite: Economics 803 and Economics 805.

1.00 units, Seminar

ECON 848

Economics of Conflict

This course has two major components. The first is a game theoretic analysis of international conflict, based on the work of Nobel Laureate Thomas Schelling, and illustrated by examining the cold war in film. Students will also engage in an extended geopolitical game (Diplomacy®), in which Schelling’s insights will be apparent regarding mutually beneficial exchanges between adversaries, tacit coordination with scant information, as well as credible and non-credible threats. The second topic will be the political economy of terrorism, which will cover such topics as positive and negative externalities resulting from anti-terrorist activities, substitution between terrorist tactics, and the implications of religious as opposed to political terror. These principles will also be illustrated in films we will view.
Prerequisite: Economics 801 and Economics 803 or Permission of Instructor

1.00 units, Seminar

ECON 850

Development Economics

Various hypotheses on the persistence of underdevelopment observed in most developing economies will be examined. Then the successes of some developing economies in their modernization will be discussed. Attention will also be given to such important issues as industrialization, demographic change and urbanization, growth in income and its distribution, international trade and finance, development strategies, the government role in promoting development, and the impact of foreign aid.
Prerequisite:Graduate students need to have completed Economics 803 and Economics 805. Upper level undergraduates require Permission of Instructor and are strongly advised to have completed Economics 301 and Economics 302

1.00 units, Lecture

ECON 940

Independent Study

Independent studies on selected topics are available by arrangement with the instructor and written approval of the graduate director and department chair. Contact the Office of Graduate Studies for the special approval form.

1.00 units min / 2.00 units max, Independent Study

ECON 953

Research Project

The graduate director, the supervisor of the project, and the department chair must approve special research project topics. Conference hours are available by appointment. Contact the Office of Graduate Studies for the special approval form. One course credit.

1.00 units, Independent Study

ECON 954

Thesis Part I

Conference hours by appointment. An original research project on a topic approved by the graduate adviser, the supervisor of the project and the department chair. Registration for the thesis will not be considered final without the Thesis Approval Form and the signatures of the thesis adviser, graduate adviser, and department chair. Please refer to the Graduate Studies Catalogue for thesis requirements. Contact the Office of Graduate Studies for the special approval form and the Thesis Writer's Packet. (The two course credits are considered pending in Part I of the thesis; they will be awarded with the completion of Part II.)

2.00 units, Independent Study

ECON 955

Thesis Part II

Continuation of Economics 954. Staff

2.00 units, Independent Study

ECON 956

Thesis

No Course Description Available.

2.00 units, Independent Study