Survey of microeconomic and macroeconomic principles. Includes analysis of individual and public sector behavior in product and resource markets and surveys applied areas. Also explores the performance of the entire economy with an emphasis on economic growth, employment and inflation. Fulfills the general education requirement in Contemporary Social Institutions. Offered each semester. Broadbent, Ghosh, Leekley, Méndez-Carbajo, Seeborg.
An introduction to the use of statistics. Topics include summary statistics, introductory probability, estimation, hypothesis testing, regression, and time series analysis. Students may not receive credit toward graduation for both this course (required for the major) and Social Statistics 227 or Statistics for the Natural Sciences 227. Offered each semester. Broadbent, Brün, Leekley, Ossella-Durbal.
Game theory is the science of strategic thinking. Through films, readings and discussion students are introduced to basic tools which will help them develop an understanding of the decisions made by individuals in interactive situations. Topics addressed include sequential rationality, the prisoner's dilemma, credible commitment, brinkmanship, bargaining and voting. Prerequisite: Econ 100. Offered occasionally in May Term. Ossella-Durbal.
Econ 270: Special Topics
Specialized applications of economic theory. May be taken for credit more than once if the topics differ, but only one course numbered 230-299 may count toward an economics major or minor. Prerequisite: Econ 100. Offered occasionally in May Term. Staff.
Neoclassical analysis of the behavior of households and firms, the determination of prices, and the allocation of resources in a market economy. Prerequisite: Econ 100. Offered each semester. Leekley, Ossella-Durbal.
Analysis of the overall performance of an economy with emphasis on the effects of monetary and fiscal policy. Topics include unemployment, inflation, long-term economic growth and business cycle stabilization. Prerequisite: Econ 100. Offered each semester. Ghosh, Méndez-Carbajo.
Analysis of the pricing of bonds and financial derivatives, banking theory and operation, monetary theory, and the role of banks in the economy at the national and international level. Includes the study of public policy related to bank activity and to economic stability. Prerequisite: Econ 100. Offered each fall. Ghosh.
Study of markets dominated by a few large firms. Examines firms' strategic behavior and market performance related to pricing, profitability, advertising, innovation and predatory conduct. Prerequisite: Econ 100. Ossella-Durbal.
The application of microeconomics to government budget policy. A variety of government spending and tax policies are analyzed for their impacts on individuals and society, and evaluated for their fairness and efficiency. Prerequisite: Econ 100. Fulfills the general education requirement in Contemporary Social Institutions. Broadbent.
Study of the development of mainstream and dissident economic thought from 17th century Mercantilism through Keynes. Prerequisite: Econ 100. Offered occaisionally. Staff.
Methods for quantitative research in economics. Topics include the formulation of an empirical model; estimation and hypothesis testing; and violations of the classical regression model. Prerequisites: Econ 227, Econ 301, Econ 302 or consent. Offered each spring. Leekley.
A study of economic aspects of labor markets. Topics include labor demand and supply, investments in education and training, labor market discrimination, unemployment, and labor unions. Prerequisite: Econ 100. Seeborg.
The application of microeconomics to issues of the environment and natural resource use. Economic institutions are examined for their effects on the use of renewable and non-renewable resources. The economic causes of pollution and the available policy responses are explored. Prerequisite: Econ 100. Broadbent.
The economic factors that induce countries to engage in international trade are examined, along with the various challenges facing the international trading system. Gains from trade, comparative advantage, international factor movements, and trade policy are among the principal topics addressed. International Trade and International Finance are the core courses in international economics. They can be taken in either order. Prerequisite: Econ 100. Ossella-Durbal.
Examines exchange rate mechanisms, international financial markets, balance of payments accounts, and open economy macroeconomics. Current challenges facing the international financial system are explored and policy options considered. International Trade and International Finance are the core courses in international economics. They can be taken in either order. Prerequisite: Econ 100. Méndez-Carbajo.
An introduction to economic analysis for developing countries. Major topics will include: what the process of "development" entails, growth models, the role of the agricultural sector, industrial strategies, and others. In addition, a study of the present economic situation of a developing country will be required. Prerequisite: Econ 100. Fulfills the general education requirement in Global Diversity. Ossella-Durbal.
Econ 370: Special Topics
Specialized applications of economic theory. May be taken for credit more than once if the topics differ. Prerequisite: Econ 100. Offered occasionally. Staff.
A capstone seminar designed for senior economics majors. Requires completion of research on a topic chosen by the student with the consent of the instructor. The course gives students the opportunity to draw on tools developed in the economics program to produce a research paper, and present the results to seminar participants. Prerequisites: Senior economics major, or consent. Carries a Writing Intensive flag. Offered each fall. Seeborg.
The application of mathematical tools to economic theory. Topics include optimization of multivariate functions and comparative static analysis applied to consumer and firm behavior. Prerequisites: Econ 301 and one semester of calculus. Offered occasionally. Ossella-Durbal.
Econ 450: Independent Study
Advanced individualized study. Prerequisite: consent of the instructor. Offered as needed. Staff.
Advanced research methods. Participants complete quality undergraduate research projects under the supervision of the seminar instructor and their faculty committees, and share their work both with each other and with a broader audience. Prerequisites: Senior class standing, major or minor in economics, and acceptance into the University's Research Honors Program, or consent of the department chair. Offered as needed. Staff.