Fall 2019

  • ECON 110: Principles of Macroeconomics

    This course gives students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 111, as a preparation for all advanced study in economics. Topics include analysis of the measurement, level, and distribution of national income; the concepts of inflation and depression; the role and structure of the banking system; fiscal and monetary stabilization techniques; implications of and limits to economic growth; and international economic relations. 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019, Winter 2020, Spring 2020 · Lhakpa Sherpa, Ethan Struby, Bruce Dalgaard, Faress Bhuiyan
  • ECON 111: Principles of Microeconomics

    This course gives the students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 110, as a preparation for all advanced study in economics. Topics include consumer choice theory; the formation of prices under competition, monopoly, and other market structures; the determination of wages, profits, and income from capital; the distribution of income; and an analysis of policy directed towards problems of public finance, pollution, natural resources, and public goods.

    6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019, Winter 2020, Spring 2020 · Prathi Seneviratne, Jonathan Lafky, Mark Kanazawa, Nathan Grawe, Aaron Swoboda
  • ECON 240: Microeconomics of Development

    This course explores household behavior in developing countries. We will cover areas including fertility decisions, health and mortality, investment in education, the intra-household allocation of resources, household structure, and the marriage market. We will also look at the characteristics of land, labor, and credit markets, particularly technology adoption; land tenure and tenancy arrangements; the role of agrarian institutions in the development process; and the impacts of alternative politics and strategies in developing countries. The course complements Economics 241. Prerequisites: Economics 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter, International Studies; offered Fall 2019 · Faress Bhuiyan
  • ECON 241: Growth and Development

    Why are some countries rich and others poor? What causes countries to grow? This course develops a general framework of economic growth and development to analyze these questions. We will document the empirical differences in growth and development across countries and study some of the theories developed to explain these differences. This course complements Economics 240. Prerequisites: Economics 110 6 credits; Social Inquiry, Quantitative Reasoning Encounter, International Studies; offered Fall 2019 · Ethan Struby
  • ECON 267: Behavioral Economics

    This course introduces experimental economics and behavioral economics as two complementary approaches to understanding economic decision making. We will study the use of controlled experiments to test and critique economic theories, as well as how these theories can be improved by introducing psychologically plausible assumptions to our models. We will read a broad survey of experimental and behavioral results, including risk and time preferences, prospect theory, other-regarding preferences, the design of laboratory and field experiments, and biases in decision making.

    Prerequisites: Economics 110 and 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019 · Jonathan Lafky
  • ECON 270: Economics of the Public Sector

    This course provides a theoretical and empirical examination of the government’s role in the U.S. economy. Emphasis is placed on policy analysis using the criteria of efficiency and equity. Topics include rationales for government intervention; analysis of alternative public expenditure programs from a partial and/or general equilibrium framework; the incidence of various types of taxes; models of collective choice; cost-benefit analysis; intergovernmental fiscal relations. Prerequisites: Economics 110 and 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter, Writing Requirement; offered Fall 2019 · Jenny Bourne
  • ECON 282: The Theory of Investment Finance

    This course provides an introduction to the main financial instruments that are used to fund economic activity. We will explore how investment products function and learn how to price a few of them. Attention will be given to the choices investors make, and should make, when allocating portfolios. Topics include bond pricing, stock pricing, option pricing, the mortgage market, hedge funds, private equity, optimal portfolios, defaults, financial intermediary capital, and investors’ behavioral biases.

    Prerequisites: Economics 110 and 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019 · Yaniv Ben-Ami
  • ECON 329: Econometrics

    This course is an introduction to the statistical methods used by economists to test hypotheses and to study and quantify economic relationships. The course emphasizes both statistical theory and practical application through analysis of economic data sets using statistical software. Topics include two-variable and multiple regression, interval estimation and hypothesis testing, discrete and continuous structural change, parameter restrictions, model construction, heteroscedasticity, autocorrelation, and multicollinearity. Prerequisites: Mathematics 111 and either Mathematics 215 or 275, and Economics 110 and 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019, Spring 2020 · Aaron Swoboda, Mark Kanazawa
  • ECON 330: Intermediate Price Theory

    An analysis of the forces determining relative prices within the framework of production and distribution. This class is normally taken by juniors. Sophomores considering enrolling should speak to the instructor. Prerequisites: Economics 110 and 111 and Mathematics 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019, Winter 2020 · Jenny Bourne
  • ECON 395: Advanced Topics in Economic Development

    Students will be exposed to theoretical models of economic development both from a micro and a macro perspective. Econometric models including probits, logits, instrumental variables, ordered probits, and ordered logits will be applied to micro-level data to study theoretical models dealing with migration, poverty, inequality, nutrition, development program evaluation, and decision making in the context of developing countries. Economic development will also be explored from the perspective of the “growth literature” where macro level panel data will be explored using fixed-effects and random-effects panel regression models.

    Prerequisites: Economics 329, 330, and 331, or instructor permission 6 credits; Social Inquiry, Writing Requirement, International Studies, Quantitative Reasoning Encounter; offered Fall 2019 · Faress Bhuiyan
  • ECON 395: Advanced Topics in Macroeconomic Theory

    This course focuses on the empirical analysis of the dynamics of aggregate economic activity and aggregate prices. Economic activity variables of interest include consumption, investment, research and development, growth, credit and default, unemployment, participation, migration, demographics, trade and capital flows, investment fund flows, and risk allocation. Price variables of interest include exchange rates, interest rates, inflation, commodity prices, insurance premiums, stock prices, option prices, and real-estate prices. Special attention will be given to the micro-foundations of theory and its empirical testing, as well as to the estimation and normative evaluation of public policy.

    Prerequisites: Economics 329, 330, and 331, or instructor permission 6 credits; Social Inquiry, Writing Requirement, Quantitative Reasoning Encounter; offered Fall 2019 · Yaniv Ben-Ami
  • ECON 395: Advanced Topics in the Economics of Housing

    This seminar-style course focuses on the empirical analysis of topics in housing economics. Specific areas of study depend on student interest, but may include: determinants of housing supply and demand, hedonic analysis, land use regulation, rent control, spatial segregation, housing policy, housing as an investment, and the recent subprime mortgage crisis. Class time is primarily devoted to student-led presentation and discussion of peer-reviewed journal articles.

    Prerequisites: Economics 329, 330, and 331, or instructor permission 6 credits; Social Inquiry, Writing Requirement, Quantitative Reasoning Encounter; offered Fall 2019 · Aaron Swoboda

Winter 2020

  • ECON 110: Principles of Macroeconomics

    This course gives students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 111, as a preparation for all advanced study in economics. Topics include analysis of the measurement, level, and distribution of national income; the concepts of inflation and depression; the role and structure of the banking system; fiscal and monetary stabilization techniques; implications of and limits to economic growth; and international economic relations. 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019, Winter 2020, Spring 2020 · Lhakpa Sherpa, Ethan Struby, Bruce Dalgaard, Faress Bhuiyan
  • ECON 111: Principles of Microeconomics

    This course gives the students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 110, as a preparation for all advanced study in economics. Topics include consumer choice theory; the formation of prices under competition, monopoly, and other market structures; the determination of wages, profits, and income from capital; the distribution of income; and an analysis of policy directed towards problems of public finance, pollution, natural resources, and public goods.

    6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019, Winter 2020, Spring 2020 · Prathi Seneviratne, Jonathan Lafky, Mark Kanazawa, Nathan Grawe, Aaron Swoboda
  • ECON 201: Analysis of Microeconomic Development Models

    This course is the second part of a two-term winter break course sequence beginning with Economics 240. This course will focus on critically analyzing the appropriateness of modern microeconomic development models in the context of Bangladesh. Students exposed to various on-site visits and lectures in Bangladesh during the winter break will be required to research, write and present their views on the reliability of different model assumptions and implications they studied in Economics 240.

    Prerequisites: Economics 110, 111 and 240 6 credits; Social Inquiry, Quantitative Reasoning Encounter, Writing Requirement, International Studies; offered Winter 2020 · Faress Bhuiyan
  • ECON 233: World Economic History

    This course surveys world economic history from Paleolithic times to today. It helps students understand the fundamental forces that drive economic growth and living standards. We address questions such as: How did economic systems function during the ancient and medieval periods? What caused the Industrial Revolution, allowing billions of humans to escape the “Malthusian trap”? Why haven’t all countries experienced economic growth?  Finally, what lessons can we learn from the past to help us better understand what the future may hold? The course focuses on long-term trends, but we will also examine short-run cyclical phenomena such as financial crises.

    Prerequisites: Economics 110 and 111 6 credits; Social Inquiry, Writing Requirement, International Studies, Quantitative Reasoning Encounter; offered Winter 2020 · Jenny Bourne
  • ECON 257: Economics of Gender

    This course uses economic theory and empirical evidence to examine gender differentials in education, marriage, fertility, earnings, labor market participation, occupational choice, and household work. Trends and patterns in gender-based outcomes will be examined across time, across countries, and within socio-economic groups, using empirical evidence from both historical and recent research. The impact of government and firm policies on gender outcomes will also be examined. By the end of the course, students will be able to utilize the most common economic tools in the study of gender inequality, as well as understand their strengths and weaknesses.

    Prerequisites: Economics 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2020 · Prathi Seneviratne
  • ECON 263: Entrepreneurship, Innovation, and Economic Performance

    Joseph Schumpeter, in lamenting the absence of an accepted theory of entrepreneurship, observed that this gap in economics is much like having Hamlet performed with the Prince of Denmark absent. Much has changed since Schumpeter leveled this criticism. Economics has embraced the contributions of entrepreneurs and provided theoretical models explaining their actions. This course explores the foundations of a microeconomic theory of entrepreneurship, investigating the role of entrepreneurs (and intrapreneurs within large organizations) as agents for change. Case studies of business development provide practical illustrations of ways in which entrepreneurs operate and how their efforts contribute to economic progress. Prerequisites: Economics 110 or 111 6 credits; Social Inquiry; offered Winter 2020 · Bruce Dalgaard
  • ECON 264: Health Care Economics

    This course will focus on the economics of medical care and how health care markets and systems work. We will consider both private health insurance markets and publicly provided social health insurance. The changes which demography, technology and the Affordable Health Care Act are bringing to health care delivery will be examined. Some time will be devoted to understanding the health care systems in other countries. This is a discussion course. Prerequisites: Economics 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2020 · Nathan Grawe
  • ECON 330: Intermediate Price Theory

    An analysis of the forces determining relative prices within the framework of production and distribution. This class is normally taken by juniors. Sophomores considering enrolling should speak to the instructor. Prerequisites: Economics 110 and 111 and Mathematics 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019, Winter 2020 · Jenny Bourne
  • ECON 331: Intermediate Macro Theory

    Analysis of the forces determining the general level of output, employment, and prices with special emphasis on the role of money and on interest rate determination. This class is normally taken by juniors. Sophomores considering enrolling should speak to the instructor. Prerequisites: Mathematics 111 and Mathematics 215 (or Mathematics 275 or permission of the instructor) and Economics 110 and 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2020, Spring 2020 · Yaniv Ben-Ami
  • ECON 398: Advanced Research in Economics

    This course is designed to support majors in developing advanced skills in economic research and communication. Through a combination of class discussion, small group work, and/or one-on-one interactions with the professor, majors learn the process of constructing strong, theoretically-grounded arguments through primary research, secondary research, or both. Students will also learn and practice strategies for engaging critically with contemporary scholarship and effective techniques of peer review and the oral presentation of research.

    Prerequisites: Economics 395 and concurrent registration in Economics 400. Instructor permission required 6 credits; S/CR/NC; Does not fulfill a curricular exploration requirement; offered Winter 2020 · Faress Bhuiyan, Yaniv Ben-Ami, Aaron Swoboda
  • ECON 400: Integrative Exercise

    6 credits; S/NC; offered Winter 2020, Spring 2020 · Faress Bhuiyan, Yaniv Ben-Ami, Aaron Swoboda

Spring 2020

  • ECON 110: Principles of Macroeconomics

    This course gives students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 111, as a preparation for all advanced study in economics. Topics include analysis of the measurement, level, and distribution of national income; the concepts of inflation and depression; the role and structure of the banking system; fiscal and monetary stabilization techniques; implications of and limits to economic growth; and international economic relations. 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019, Winter 2020, Spring 2020 · Lhakpa Sherpa, Ethan Struby, Bruce Dalgaard, Faress Bhuiyan
  • ECON 111: Principles of Microeconomics

    This course gives the students a foundation in the general principles of economics as a basis for effective citizenship and, when combined with 110, as a preparation for all advanced study in economics. Topics include consumer choice theory; the formation of prices under competition, monopoly, and other market structures; the determination of wages, profits, and income from capital; the distribution of income; and an analysis of policy directed towards problems of public finance, pollution, natural resources, and public goods.

    6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019, Winter 2020, Spring 2020 · Prathi Seneviratne, Jonathan Lafky, Mark Kanazawa, Nathan Grawe, Aaron Swoboda
  • ECON 265: Game Theory and Economic Applications

    Game theory is the study of purposeful behavior in strategic situations. It serves as a framework for analysis that can be applied to everyday decisions, such as working with a study group and cleaning your room, as well as to a variety of economic issues, including contract negotiations and firms’ output decisions. In this class, modern game theoretic tools will be primarily applied to economic situations, but we will also draw on examples from other realms. Prerequisites: Economics 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Spring 2020 · Jonathan Lafky
  • ECON 271: Economics of Natural Resources and the Environment

    This course focuses on environmental economics, energy economics, and the relationship between them. Economic incentives for pollution abatement, the industrial organization of energy production, optimal depletion rates of energy sources, and the environmental and economic consequences of alternate energy sources are analyzed. Prerequisites: Economics 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Spring 2020 · Mark Kanazawa
  • ECON 276: Money and Banking

    This course examines the role of money and monetary institutions in determination of income, employment, and prices in the domestic and world economies. It also examines the role of commercial banking and financial markets in a market-based economy. Prerequisites: Economics 110 and 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Spring 2020 · Ethan Struby
  • ECON 280: International Trade

    A study of international trade theories and their policy implications. Classical and neo-classical trade models, the gains from trade, the terms of trade and the distribution of income, world trade patterns, international factor movements, tariffs, and the impact of commercial policy on developing and developed countries are analyzed. Prerequisites: Economics 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Spring 2020 · Prathi Seneviratne
  • ECON 281: International Finance

    This course studies theories of the multi-faceted interaction between the balance of international payments and foreign exchange market and the general levels of domestic prices, employment and economic activity. Topics include the balance of payments, foreign exchange markets, adjustment mechanisms in international payments, macroeconomic policies for internal and external balance, and international monetary systems. Prerequisites: Economics 110 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Spring 2020
  • ECON 329: Econometrics

    This course is an introduction to the statistical methods used by economists to test hypotheses and to study and quantify economic relationships. The course emphasizes both statistical theory and practical application through analysis of economic data sets using statistical software. Topics include two-variable and multiple regression, interval estimation and hypothesis testing, discrete and continuous structural change, parameter restrictions, model construction, heteroscedasticity, autocorrelation, and multicollinearity. Prerequisites: Mathematics 111 and either Mathematics 215 or 275, and Economics 110 and 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Fall 2019, Spring 2020 · Aaron Swoboda, Mark Kanazawa
  • ECON 331: Intermediate Macro Theory

    Analysis of the forces determining the general level of output, employment, and prices with special emphasis on the role of money and on interest rate determination. This class is normally taken by juniors. Sophomores considering enrolling should speak to the instructor. Prerequisites: Mathematics 111 and Mathematics 215 (or Mathematics 275 or permission of the instructor) and Economics 110 and 111 6 credits; Social Inquiry, Quantitative Reasoning Encounter; offered Winter 2020, Spring 2020 · Yaniv Ben-Ami
  • ECON 400: Integrative Exercise

    6 credits; S/NC; offered Winter 2020, Spring 2020 · Faress Bhuiyan, Yaniv Ben-Ami, Aaron Swoboda