Location: Bowdoin / Economics / Courses / Spring 2012

Economics

Spring 2012

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. Intended for students not planning to major in economics. Not open to students who have credit for Economics 101 or 102. Does not satisfy the prerequisite for any other course in economics.

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
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
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.

102. Principles of Macroeconomics
Yao Tang T 8:30 - 9:55, TH 8:30 - 9:55
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.

212. Labor and Human Resource Economics
Rachel Connelly M 1:00 - 2:25, W 1:00 - 2:25
A study of labor market supply and demand, with special emphasis on human resource policies, human capital formation, and wage inequality.

218. Environmental Economics and Policy
Erik Nelson M 11:30 - 12:55, W 11:30 - 12:55
An exploration of environmental degradation and public policy responses in industrial economies. Market failures, property rights, and materialistic values are investigated as causes of pollution and deteriorating ecosystem functions. Guidelines for equitable and cost-effective environmental policy are explored, with an emphasis on the roles and limitations of cost-benefit analysis and techniques for estimating non-monetary values. Three core themes are the transition from “command and control” to incentive-based policies; the evolution from piecemeal regulation to comprehensive “green plans” (as in the Netherlands); and the connections among air pollution, energy systems, and global warming.

220. International Economics
Julian Diaz T 2:30 - 3:55, TH 2:30 - 3:55
An introduction to the major concepts of international trade and international finance. The first part analyzes the main reasons for why countries trade and the impact of trade on production, prices and welfare. Additional topics include the use of quotas, tariffs and other barriers to trade, trade liberalization reforms and regional trade blocs, and the globalization debate. The second part deals with the main issues of international finance, including the structure of the balance of payments accounts, exchanges rate determination and exchange rate regimes, currency crises, global imbalances, the role of the IMF, and currency unions such as the European Monetary Union. Not open to students who have crediit for Economics 308 or 309.

239. Topics on Asian Economies
Yao Tang T 11:30 - 12:55, TH 11:30 - 12:55
A study of the similarities and differences in growth experience and the level of economic output per person in Asian countries. Explores possible causes of differences in economic paths, with a focus on several important economies, including China and Japan. Also discusses the relationship between the Asian economies and the United States economy.

255. Microeconomics
Rachel Connelly 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
Paola Boel T 11:30 - 12:55, TH 11:30 - 12:55
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.

256. Macroeconomics
Julian Diaz T 1:00 - 2:25, TH 1:00 - 2:25
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 11:30 - 12:55, W 11:30 - 12:55
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.

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.

340. Law and Economics
Bibi Khan M 10:00 - 11:25, W 10:00 - 11:25
Seminar. Law and economics is one of the most rapidly growing areas in the social sciences. The field applies the concepts and empirical methods of economics to further our understanding of the legal system. Explores the economic analysis of law and legal institutions, including the economics of torts, contracts, property, crime, courts, and dispute resolution. Also focuses on topics in law and economics such as antitrust and regulation, corporations, the family, labor markets, product liability, and intellectual property. Students are introduced to online sources of information in law, and are required to apply economic reasoning to analyze landmark lawsuits in each of these areas. Not open to students who have credit for Economics 341.

356. Monetary Economics
Paola Boel T 6:30 - 9:25
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
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 an examination of recent insights from behavioral finance.