Courses

Courses

Spring 2007 Courses

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016. Sustaining Maine's Northern Forest: Economy, Ecology and Community
David Vail T 8:30 - 9:55, TH 8:30 - 9:55 Hubbard-22
A multi-disciplinary introduction to the ecological, economic and social dimensions of Maine's vast Northern Forest - the largest unbroken forest east of the Mississippi. Begins with a historical look at the evolving forest ecosystem, economy and culture, including Native American settlement, Thoreau's Maine Woods and the tourism tradition, 1the 9th century "lumber barons", and the 20th century "Paper Plantation" era. A review of key forces of change is followed by six case studies: transformation of land ownership and public access, green certified forest management, the quest to become a "world class" tourist destination, community re-vitalization, energy from the forest, and the impact of global warming.
100. Introduction to the Economy
Gregory DeCoster W 2:30 - 3:55 Searles-217
A non-technical introduction to the operation of modern economies, with a focus on the United States. Emphasis is on using a small number of fundamental concepts to clarify how economies function, to provide a foundation for informed evaluation of contemporary economic debates, and to illustrate how economic reasoning can provide an illuminating perspective on current societal issues. Topics include incentives, decision-making, and markets as a means of allocating resources; characteristics of market allocation; history of United States economic performance; fundamental macroeconomic relationships; the role of government in the economy, including discussion of policies relating to economic growth, inflation, unemployment, the environment, energy, international trade, globalization, poverty, and inequality. Appropriate for all students, but intended for non-majors. Does not satisfy the prerequisites for any other course in the Economics Department.
101. Principles of Microeconomics
John Todd M 11:30 - 12:55, W 11:30 - 12:55 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.
101. Principles of Microeconomics
Bibi Khan 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
Joon-Suk Lee T 11:30 - 12:55, TH 11:30 - 12:55 Searles-223
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 2:30 - 3:55, TH 2:30 - 3:55 Druckenmiller-020
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
Deborah DeGraff M 8:00 - 9:25, W 8:00 - 9:25 Searles-223
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 8:30 - 9:55, TH 8:30 - 9:55 Searles-215
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.
212. - MCSR Labor and Human Resource Economics
Rachel Connelly T 1:00 - 2:25, TH 1:00 - 2:25 Searles-313
A study of labor market supply and demand, with special emphasis on human resource policies, human capital formation, and wage inequality.
223. Africa's Economic Prospects: Globalization and Economic Institutions
John Todd T 1:00 - 2:25, TH 1:00 - 2:25 Searles-223
An examination of the factors that have affected Africa's recent economic development, including globalization, international aid institutions, and domestic governance. Particular attention is paid to the interests and the strategies of the many players in this field — both external (multinationals, NGOs, bilateral and multilateral aid agencies) and internal (governments, civil society, local business, and the poor). Competing explanations for Africa's relatively poor economic record are reviewed, including Africa's geography and history, the impact of globalization; the policies and practices of aid institutions; and Africa's political and economic management. Tools of economic analysis are used to help understand the potential roles of international trade, foreign investment, aid, and productivity growth in contributing to the achievement of broadly-shared and sustainable economic growth in Africa. Each student follows a particular country throughout the semester. Concludes with an exploration of alternative scenarios for the world economy and Africa's place in it over the next ten to fifteen years.
238. Economic History of American Enterprise
Bibi Khan M 10:00 - 11:25, W 10:00 - 11:25 Searles-223
Presents an economic analysis of innovation in firms and markets during the course of American economic development. Central themes include changes in the role of institutions, such as the factory system and large corporations, relative to market transactions. The first part of the course considers specific issues in the organization of the firm, finance, and technology during the nineteenth century. The second part examines more contemporary questions bearing on the productivity and competitiveness of American enterprise. Not open to students who have taken Economics 208 or Economics 348.
255. Microeconomics
Joon-Suk Lee T 2:30 - 3:55, TH 2:30 - 3:55 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 11:30 - 12:55, TH 11:30 - 12:55 Searles-215
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
Rachel Connelly T 10:00 - 11:25, TH 10:00 - 11:25 Searles-215
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.
LAB
Rachel Connelly F 10:30 - 11:55 Kanbar Hall - 101 (computer lab)
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.
318. Environmental and Resource Economics
Guillermo Herrera M 2:30 - 3:55, W 2:30 - 3:55 Hubbard-22
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. Not open to students who taken Economics 218 or 228 except by permission of the instructor.
356. Monetary Economics
Paola Boel T 6:30 - 9:25 Searles-213
Examines the role that money plays in market economies. Monetary policies, fiscal policies, and payment systems are studied. Particular attention is given to how inflation and taxes affect saving, investment, and output. The interaction of money with other assets, the banking system, forms of credit, and alternatives to fiat money are also investigated.
360. Finance II
Gregory DeCoster T 2:30 - 3:55, TH 2:30 - 3:55 Searles-313
The focus is essentially two-fold: 1) What are the sources of business value, and how can it be created? And (2) How can the uncertainty and risk inherent to intertemporal choices, i.e. capital accumulation, be "managed"? Addressing these questions will 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.