Location: Bowdoin / Economics / Courses / Fall 2012

Economics

Fall 2012

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018. The Art of the Deal: Commerce and Culture
Bibi Khan M 11:30 - 12:55, W 11:30 - 12:55 CT-16 Whiteside Room
Explores the economics of culture, including the analysis of markets for art, music, literature, and movies. If culture is “priceless,” then why do artists starve while providers of pet food make billions? Why are paintings by dead artists generally worth more than paintings by living artists? Could music piracy on the information superhighway benefit society? Can Tom Hanks turn a terrible movie into a contender at the box office? Students are not required to have any prior knowledge of economics, and will not be allowed to argue that baseball comprises culture.

101. Principles of Microeconomics
Guillermo Herrera M 1:00 - 2:25, W 1:00 - 2:25 Druckenmiller-020
An introduction to economic analysis and institutions, with special emphasis on the allocation of resources through markets. The theory of demand, supply, cost, and market structure is developed and then applied to problems in antitrust policy, environmental quality, energy, education, health, the role of the corporation in society, income distribution, and poverty. Students desiring a comprehensive introduction to economic reasoning should take both Economics 101 and 102.

101. Principles of Microeconomics
Bibi Khan M 2:30 - 3:55, W 2:30 - 3:55 Adams-208
An introduction to economic analysis and institutions, with special emphasis on the allocation of resources through markets. The theory of demand, supply, cost, and market structure is developed and then applied to problems in antitrust policy, environmental quality, energy, education, health, the role of the corporation in society, income distribution, and poverty. Students desiring a comprehensive introduction to economic reasoning should take both Economics 101 and 102.

101. Principles of Microeconomics
Erik Nelson M 1:00 - 2:25, W 1:00 - 2:25 Kanbar Hall-107
An introduction to economic analysis and institutions, with special emphasis on the allocation of resources through markets. The theory of demand, supply, cost, and market structure is developed and then applied to problems in antitrust policy, environmental quality, energy, education, health, the role of the corporation in society, income distribution, and poverty. Students desiring a comprehensive introduction to economic reasoning should take both Economics 101 and 102.

101. Principles of Microeconomics
Erik Nelson M 8:00 - 9:25, W 8:00 - 9:25 Hubbard-Conf Room West
An introduction to economic analysis and institutions, with special emphasis on the allocation of resources through markets. The theory of demand, supply, cost, and market structure is developed and then applied to problems in antitrust policy, environmental quality, energy, education, health, the role of the corporation in society, income distribution, and poverty. Students desiring a comprehensive introduction to economic reasoning should take both Economics 101 and 102.

101. Principles of Microeconomics
Daniel Stone T 2:30 - 3:55, TH 2:30 - 3:55 Searles-215
An introduction to economic analysis and institutions, with special emphasis on the allocation of resources through markets. The theory of demand, supply, cost, and market structure is developed and then applied to problems in antitrust policy, environmental quality, energy, education, health, the role of the corporation in society, income distribution, and poverty. Students desiring a comprehensive introduction to economic reasoning should take both Economics 101 and 102.

102. Principles of Macroeconomics
Paola Boel T 1:00 - 2:25, TH 1:00 - 2:25 Druckenmiller-004
An introduction to economic analysis and institutions, with special emphasis on determinants of the level of national income, prices, and employment. Current problems of inflation and unemployment are explored with the aid of such analysis, and alternative views of the effectiveness of fiscal, monetary, and other governmental policies are analyzed. Attention is given to the sources and consequences of economic growth and to the nature and significance of international linkages through goods and capital markets.

102. Principles of Macroeconomics
Paola Boel T 11:30 - 12:55, TH 11:30 - 12:55 Druckenmiller-004
An introduction to economic analysis and institutions, with special emphasis on determinants of the level of national income, prices, and employment. Current problems of inflation and unemployment are explored with the aid of such analysis, and alternative views of the effectiveness of fiscal, monetary, and other governmental policies are analyzed. Attention is given to the sources and consequences of economic growth and to the nature and significance of international linkages through goods and capital markets.

221. Marxian Political Economy
Jonathan Goldstein T 10:00 - 11:25, TH 10:00 - 11:25 Hubbard-22
An alternative (heterodox) analysis of a capitalist market economy rooted in Marx’s methodological framework, which focuses on the interconnected role played by market relations, class/power relations, exploitation and internal tendencies towards growth, crisis, and qualitative change. Students are introduced to the Marxian method and economic theory through a reading of Volume I of Capital. Subsequently, the Marxian framework is applied to analyze the modern capitalist economy with an emphasis on the secular and cyclical instability of the economy, changing institutional structures and their ability to promote growth, labor market issues, globalization, and the decline of the Soviet Union.

227. Human Resources and Economic Development
Deborah DeGraff M 11:30 - 12:55, W 11:30 - 12:55 Searles-215
An analysis of human resource issues in the context of developing countries. Topics include the composition of the labor force by age and gender, productivity of the labor force, unemployment and informal sector employment, child labor and the health and schooling of children, and the effects of structural adjustment policies and other policy interventions on the development and utilization of human resources. Examples from selected African, Asian, and Latin American countries are integrated throughout and the interaction of sociocultural environments with economic forces is considered.

255. Microeconomics
John Fitzgerald T 10:00 - 11:25, TH 10:00 - 11:25 Searles-223
An intermediate-level study of contemporary microeconomic theory. Analysis of the theory of resource allocation and distribution, with major emphasis on systems of markets and prices as a social mechanism for making resource allocation decisions. Topics include the theory of individual choice and demand, the theory of the firm, market equilibrium under competition and monopoly, general equilibrium theory, and welfare economics.

255. Microeconomics
John Fitzgerald T 11:30 - 12:55, TH 11:30 - 12:55 Searles-223
An intermediate-level study of contemporary microeconomic theory. Analysis of the theory of resource allocation and distribution, with major emphasis on systems of markets and prices as a social mechanism for making resource allocation decisions. Topics include the theory of individual choice and demand, the theory of the firm, market equilibrium under competition and monopoly, general equilibrium theory, and welfare economics.

256. Macroeconomics
Julian Diaz T 1:00 - 2:25, TH 1:00 - 2:25 Searles-223
An intermediate-level study of contemporary national income, employment, and inflation theory. Consumption, investment, government receipts, government expenditures, money, and interest rates are examined for their determinants, interrelationships, and role in determining the level of aggregate economic activity. Policy implications are drawn from the analysis.

257. Economic Statistics
Deborah DeGraff M 2:30 - 3:55, W 2:30 - 3:55 Searles-223
An introduction to the data and statistical methods used in economics. A review of the systems that generate economic data and the accuracy of such data is followed by an examination of the statistical methods used in testing the hypotheses of economic theory, both micro- and macro-. Probability, random variables and their distributions, methods of estimating parameters, hypothesis testing, regression, and correlation are covered. The application of multiple regression to economic problems is stressed. Students who have taken Mathematics 265 are encouraged to take Economics 316 instead of this course.

260. Financial Analysis
Gregory DeCoster T 2:30 - 3:55, TH 2:30 - 3:55 Searles-315
Provides a thorough exposure to asset valuation, portfolio management, and corporate financial decision-making. In addition, presents the financial accounting concepts necessary to utilize corporate financial statements in valuation and decision-making exercises. Topics include functions and structure of the financial system; measures of return and risk, and discounted cash-flow analysis; overview of financial statements and financial statement analysis; portfolio theory, asset pricing models, and efficient markets theory; corporate decision-making—the cost of capital, capital budgeting, and capital structure. Mathematics 161 is recommended.

308. International Trade
Julian Diaz T 2:30 - 3:55, TH 2:30 - 3:55 Searles-223
Offers a theoretical and empirical analysis of international trade. Particular attention is given to the standard models of trade: the Ricardian model, the Heckscher-Ohlin model, the specific factors model, and the monopolistic competition model, as well as an introduction to applied general equilibrium models of trade liberalization. Also analyzes current topics such as barriers to trade (quotas, tariffs); the effects of trade liberalization on wage inequality; regional integration blocs; the globalization debate; and the relation between trade, growth, and productivity. Data analysis is used in order to evaluate the success or shortcomings of the theoretical models.

316. Econometrics
Jonathan Goldstein T 1:00 - 2:25, TH 1:00 - 2:25 Searles-115
Seminar. A study of the mathematical formulation of economic models and the statistical methods of testing them. A detailed examination of the general linear regression model, its assumptions, and its extensions. Applications to both micro- and macroeconomics are considered. Though most of the course deals with single-equation models, an introduction to the estimation of systems of equations is included. An empirical research paper is required.

318. Environmental and Natural Resource Economics
Guillermo Herrera M 10:00 - 11:25, W 10:00 - 11:25 HL-311 (third floor)
Seminar. Analysis of externalities and market failure; models of optimum control of pollution and efficient management of renewable and nonrenewable natural resources such as fisheries, forests, and minerals; governmental vs. other forms of control of common-pool resources; and benefit-cost analysis of policies, including market-based and non-market valuation. Permission of instructor required for students who have credit for Economics 218 (same as Environmental Studies 218) or 228 (same as Environmental Studies 228).

326. Trade Doctrines and Trade Deals
Stephen Meardon M 11:30 - 12:55, W 11:30 - 12:55 CT-16 Harrison McCann
Seminar. An inquiry into the consequences of theory meeting practice in international trade negotiations. The historical relationship between economic ideas and the bilateral trade treaties, multilateral trade arrangements, and retaliatory tariff laws of Great Britain and the United States considered. The timeline extends from the eighteenth century to the present, from the Treaty of Methuen (1703) to the World Trade Organization.

355. Game Theory and Strategic Behavior
Daniel Stone T 11:30 - 12:55, TH 11:30 - 12:55 Searles-115
An introduction to game theory, a theory analyzing and characterizing optimal strategic behavior. Strategic behavior takes into account other individuals’ options and decisions. Such behavior is relevant in economics and business, politics, and other areas of the social sciences. The main game theoretic equilibrium concepts are introduced and applied to a variety of economics and business problems. Elementary calculus and probability theory are used. Not open to students who have credit for Economics 245.