Fall 2011 Courses

018. The Art of the Deal: Commerce and Culture
Bibi Khan M 11:30 - 12:55, W 11:30 - 12:55
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
Rachel Connelly M 11:30 - 12:55, W 11:30 - 12:55
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
Deborah DeGraff M 1:00 - 2:25, W 1:00 - 2:25
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
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
Yao Tang T 8:30 - 9:55, TH 8:30 - 9:55
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
Yao Tang T 10:00 - 11:25, TH 10:00 - 11:25
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. Princiiples of Macroeconomics
Paola Boel T 10:00 - 11:25, TH 10:00 - 11:25
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. Princiiples of Macroeconomics
Jonathan Goldstein T 1:00 - 2:25, TH 1:00 - 2:25
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.
209. Money and Banking
Paola Boel T 1:00 - 2:25, TH 1:00 - 2:25
Introduction to the principles of money and banking. Closely examines the tools of monetary policy, as well as the determination of short- and long-term interest rates and exchange rates. Discusses the institutional structure of central banking and of financial intermediation in the American economy.
238. Economic History of American Enterprise
Bibi Khan M 2:30 - 3:55, W 2:30 - 3:55
Considers the history of American enterprise over the past two centuries. First examines key issues in the economics of the firm, entrepreneurship, and innovation during the nineteenth century (the period of the second industrial revolution). Then addresses these issues from a more recent perspective (the so-called third industrial revolution). Assesses what lessons for the twenty-first century can be learned from an examination of the development of enterprise since the nineteenth century; and analyzes the extent to which today’s “New Economy” raises novel questions for economic theory and its applications. Not open to students who have credit for Economics 208 or Economics 348.
255. Microeconomics
Rachel Connelly M 1:00 - 2:25, W 1:00 - 2:25
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 2:30 - 3:55, TH 2:30 - 3:55
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 2:30 - 3:55, TH 2:30 - 3:55
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
Jonathan Goldstein T 10:00 - 11:25, TH 10:00 - 11:25
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. Finance I
Gregory DeCoster T 2:30 - 3:55, TH 2:30 - 3:55
As the first in a two-course sequence (Finance I and II—Economics 260 and 360), provides a thorough exposure to the fundamental concepts involved in corporate financial decision-making, investment analysis, and portfolio management. In addition, presents the financial accounting principles and practices necessary to understand and utilize corporate financial statements as inputs to decision-making and valuation exercises. Topics include functions and structure of the financial system; overview of valuation—measures of return and risk, and discounted cash-flow analysis; sources of financial information—basic accounting concepts, balance sheet, income statement, statement of cash-flows, and financial ratios; portfolio theory, the capital asset pricing model, 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 1:00 - 2:25, TH 1:00 - 2:25
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
John Fitzgerald T 11:30 - 12:55, TH 11:30 - 12:55
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.
319. The Economics of Development
Deborah DeGraff M 10:00 - 11:25, W 10:00 - 11:25
Seminar. Theoretical and empirical analysis of selected microeconomic issues within the context of developing countries. Has a dual focus on modeling household decisions and on the effects of government policy and intervention on household behavior and well being. Topics include agricultural production, land use systems, technology and credit markets, household labor allocation and migration, investment in education and health, and income inequality.
321. The Economics of Land Use, Ecosystem Services, and Biodiversity
Erik Nelson M 11:30 - 12:55, W 11:30 - 12:55
Seminar. Analysis of the economic forces that shape land-use patterns, the relationship between land-use patterns and ecosystem service provision and biodiversity persistence, and the economic value of ecosystem service provision. Investigates methods for increasing ecosystem service values on the landscape and the economic cost of these methods. Analysis of land-use externalities and the failure of land-use patterns to generate maximum societal net benefits; neoclassical economic theory on land-use; methods for estimating market value of land; methods of non-market valuation; efficient land-use patterns from a societal perspective; methods for finding efficient land-use patterns; and governmental and non-governmental organization land conservation programs. Permission of instructor required during add/drop for students who have credit for Economics 218 (same as Environmental Studies 218) or 228 (same as Environmental Studies 228).