Location: Bowdoin / Economics / Courses / Fall 2010

Economics

Fall 2010

016. Sustaining Maine's Northern Forest: Economy, Ecology, and Community
David Vail T  8:30 - 9:55
TH 8:30 - 9:55
A multi-disciplinary study of Maine's vast Northern Forest - the largest unbroken woodlands east of the Mississippi. Begins with a historical look at evolving forest ecosystems, economies and cultures. Topics include Native American settlement, H.D. Thoreau's Maine Miane Woods and outdoor recreation tradition, the nineteenth century "lumber barons", and Maine's twentieth century "Paper Plantation." We then investigate six 21st century challenges: transformation of forest ownership and property rights,sustainable forest management, renewable energy from the forest, creating a "world class" tourist destination, sustaining forest communities, and responding to global warming.

018. The Art of the Deal: Commerce and Culture
Bibi Khan M  10:00 - 11:25
W  10:00 - 11:25
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 do not require 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
Joon-Suk Lee M  2:30 - 3:55
W  2:30 - 3:55
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
Erik Nelson 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
Erik Nelson T  11:30 - 12:55
TH 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
Bibi Khan 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.

102. Principles of Macroeconomics
Paola Boel 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.

102. Principles of Macroeconomics
Paola Boel T  2:30 - 3:55
TH 2:30 - 3:55
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
Jonathan Goldstein 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.

213. History of Economic Thought
Stephen Meardon M  11:30 - 12:55
W  11:30 - 12:55
A historical study of insights and methods of inquiry into the functions of markets and the role of government in shaping them. Readings include the original works of economic thinkers from the eighteenth to twentieth centuries, including Adam Smith, David Ricardo, Henry Carey, Karl Marx, Henry George, Thorstein Veblen, and John Maynard Keynes, among others. Different historiographical approaches are employed, including examination of the problems motivating past thinkers as well as the relevance of their ideas to modern economics.

225. The Economy of Latin America
Julian Diaz T  11:30 - 12:55
TH 11:30 - 12:55
Analyzes selected economic issues of Latin America in the twentieth century (and into the twenty-first century). Issues covered include the Import Substitution Industrialization strategy, the Debt Crisis of the 1980s, stabilization programs, trade liberalization and economic integration, inflation and hyperinflation in the region, and poverty and inequality. Important economic episodes of the past three decades such as the Mexican Crisis of 1994–1995, the Chilean Economic Miracle, dollarization in Ecuador, and the recent crisis in Argentina will also be examined.

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.

245. Strategic Choice and Reasoning in Economics, Politics, and Everyday Life
Joon-Suk Lee M  11:30 - 12:55
W  11:30 - 12:55
An introduction to the basic tools of game theoretic analysis with an emphasis on its application to many situations in economics and political science. Game theory examines the choices that we make which affect others and the choices others make that affect us. Managers and politicians frequently play "games" – with each other, competitors, customers and the public. The overarching goal of this course is to enhance a student's ability to think strategically in complex, interactive environments. The emphasis of the course will be on the conceptual analysis, keeping the level of math to a minimum, though it will encourage students to think in mathematical terms. Not open to students who have credit for Economics 355.

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.

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.

256. Macroeconomics
Julian Diaz 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
Jonathan Goldstein T  1:00 - 2:25
TH 1:00 - 2:25
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.

301. The Economics of the Family
Rachel Connelly M  1:00 - 2:25
W  1:00 - 2:25
Seminar. Microeconomic analysis of the family—gender roles and related institutions. Topics include marriage, fertility, married women’s labor supply, divorce, and the family as an economic organization.

309. International Finance
Yao Tang M  10:00 - 11:25
W  10:00 - 11:25
Seminar. Surveys a number of topics in international finance and international macroeconomics, including: balance of payments, exchange rate determination, the Mundell-Fleming model of output and exchange rate, exchange rate regimes, international capital flows, and international financial crises. Involves data analysis to empirically evaluate the theoretical models. Also provides a special focus on Asia by discussing issues such as Asia's role in the global imbalances, China's exchange rate regime, and the currency carry trade associated with the Japanese Yen.

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.