Courses

Courses

Spring 2008 Courses

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100. Introduction to the Economy
Gregory DeCoster W 2:30 - 3:55
A non-technical introduction to the operation of modern capitalist economies, with a focus on the United States. Emphasizes use of a small number of fundamental concepts to clarify how economies function and to provide a foundation for informed evaluation of contemporary economic debates. Topics include incentives, decision-making, markets as a means of allocating resources, characteristics of market allocation, measures and history of U.S. economic performance, structure and function of the financial system, sources of economic growth, and business cycles. Periodic discussions of the role of government in the economy. Seeks to provide a level of economic literacy adequate to understanding debates as conducted in the popular press. Appropriate for all students, but intended for non-majors. Does not satisfy the prerequisites for any other course in the Department of Economics.

101. Principles of Microeconomics
Rachel Connelly T 1:00 - 2:25, TH 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
Joon-Suk Lee 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.

102. Principles of Macroeconomics
Julian Diaz 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. Principles of Macroeconomics
Julian Diaz T 11:30 - 12:55, TH 11:30 - 12:55
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
John Fitzgerald 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. Principles 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 2:30 - 3:55, TH 2:30 - 3:55
Introduction to the principles of money and banking. The tools of monetary policy, as well as the determination of short and long term interest rates and exchange rates will be examined in depth. The institutional structure of central banking and of financial intermediation in the American economy will also be discussed.

228. Natural Resource Economics and Policy
Guillermo Herrera T 1:00 - 2:25, TH 1:00 - 2:25
A study of the economic issues surrounding the existence and use of renewable natural resources (e.g., forestry/land use, fisheries, water, ecosystems, and the effectiveness of antibiotics) and exhaustible resources (such as minerals, fossil fuels, and old growth forest). A basic framework is first developed for determining economically efficient use of resources over time, then extended to consider objectives other than efficiency, as well as the distinguishing biological, ecological, physical, political, and social attributes of each resource. Uncertainty, common property, and various regulatory instruments are discussed, as well as alternatives to government intervention and/or privatization.

255. Microeconomics
Guillermo Herrera T 10:00 - 11:25, TH 10:00 - 11:25
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
Joon-Suk Lee M 2:30 - 3:55, W 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
Paola Boel T 10:00 - 11:25, TH 10:00 - 11:25
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 9:00 - 10:25, W 9:00 - 10:25
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.

277. Applied Research Practicum: Chinese Rural to Urban Migration
Rachel Connelly T 11:30 - 12:55, TH 11:30 - 12:55
Highlights applied research methods in microeconomics. Students work throughout the semester in research teams to analyze data from Chinese rural women on their migration and/or the migration of their husbands. While topics of Chinese economic life and economic models of migration are studied, the course primarily focuses on methods: how applied researchers work with data to analyze a set of questions. Elementary statistics is a prerequisite. Statistical techniques beyond the elementary level are taught.

302. Business Cycles
Jonathan Goldstein T 10:00 - 11:25, TH 10:00 - 11:25
Seminar. A survey of competing theories of the business cycle, empirical tests of cycle theories, and appropriate macro stabilization policies. Topics include descriptive and historical analysis of cyclical fluctuations in the United States, Keynesian-Kaleckian multiplier-accelerator models, NBER analysis of cycles, growth cycle models, theories of financial instability, Marxian crisis theory, new classical and new Keynesian theories, and international aspects of business cycles.

310. Advanced Public Economics
John Fitzgerald T 1:00 - 2:25, TH 1:00 - 2:25
Seminar. A survey of theoretical and empirical evaluations of government activities in the economy, considering both efficiency and equity aspects. Topics include public choice, income redistribution, benefit-cost analysis, analysis of selected government expenditure programs (including social security), incidence and behavioral effects of taxation, and tax reform. Current public policy issues are emphasized. Not open to students who have credit for Economics 210.

360. Finance II
Gregory DeCoster T 2:30 - 3:55, TH 2:30 - 3:55
Finance II is a continuation of Economics 260. The focus is essentially two-fold: 1) What are the sources of business value, and how can it be created? 2) How can the uncertainty and risk inherent to intertemporal choices, i.e. capital accumulation, be “managed”? Involves analysis of business strategy with regard to both operations and financing decisions; the pricing and uses of financial derivatives (i.e., futures, options, and swaps); sources of risk and basic risk management techniques; and finally, an examination of recent insights from behavioral finance. Not open to students who have credit for Economics 209.