An introduction to economics with emphasis on macroeconomics. Topics include: scarcity and choice, elements of supply and demand, inflation, unemployment, recessions, booms, fiscal and monetary policy, international balance of payments, and budget deficits. Prerequisite: basic algebra and graphing.
An introduction to economics with emphasis on macroeconomics. Topics include: scarcity and choice, elements of supply and demand, inflation, unemployment, recessions, booms, fiscal and monetary policy, international balance of payments, and budget deficits. Prerequisite: basic algebra and graphing.
An introductory course on the fundamentals of microeconomics. The behavior of individuals and firms in deciding on prices and allocation of scarce resources. Topics include: consumer preferences, costs of production, equilibrium prices and output, different market types, potential market failures, and the role of government interventions and public policy. Prerequisite: ECON 201-0.
An introductory course on the fundamentals of microeconomics. The behavior of individuals and firms in deciding on prices and allocation of scarce resources. Topics include: consumer preferences, costs of production, equilibrium prices and output, different market types, potential market failures, and the role of government interventions and public policy. Prerequisite: ECON 201-0.
An introduction to econometrics. The underlying theory of regression and the practical application of these techniques to data sets. Understanding and diagnosing common statistical problems encountered during estimation. Prerequisite: ECON 201-0, ECON 202-0, MATH 220-1, STAT 210-0 or higher level statistics class. All other substitutions (including AP Statistics) must be cleared through the Director of Undergraduate Studies for Economics.
The role of money, banking, and financial markets in the modern economy. Topics include: function and history of money, financial flows, evolving nature of banks and their regulation, monetary policy, modern central bank practices, effect of monetary policy on economic outcomes, and the response to financial crises. Prerequisites: ECON 281-0, ECON 310-1, ECON 311-0.
Understanding the role of government in the economy in theory and practice. Topics include: structure and implications of various tax instruments, role of public debt, and methods for evaluating government expenditures and programs. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
A more mathematically formal and rigorous treatment of the core concepts of microeconomics introduced in ECON 202-0. Topics include: consumer behavior and the theory of demand, costs of production and the nature of equilibrium in competitive and monopolistic markets. Prerequisites: ECON 201-0, ECON 202-0, MATH 220-1.
The continuation of the intermediate microeconomics sequence provides tools to analyze social wellbeing, social choice, risk and uncertainty, information asymmetries, competitive independencies between firms (game theory), market spillovers and general equilibrium. Prerequisite: ECON 310-1.
A more mathematically formal and rigorous treatment of the core concepts of macroeconomics introduced in ECON 201-0. Topics include: aggregate consumption, inflation, unemployment, growth, international balances between countries, and the role of monetary and fiscal policy. Prerequisites: ECON 201-0, ECON 202-0, MATH 220-1.
Economic change in sub-Saharan Africa, emphasizing current issues and policies in their historical contexts. Agriculture and rural development, industrialization, and international economic relations. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2, ECON 326-0.
Understanding of how humans make choices in economic situations. The incorporation of psychology and/or sociology into economics to gain deeper insight into economic behavior, to make better predictions, and to generate improved policy prescriptions. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Application of microeconomic theory to the analysis of family issues. Topics include: marriage, cohabitation, decision to have children, divorce, credit and insurance, legacies, bargaining within the household, and division of household labor. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Analysis of gender differences in employment, earnings and division of labor in the household. Family, labor market, discrimination, segregation, historical and international conditions, and antidiscrimination legislation. Prerequisites: 281, 310-1,2.
Examination of the competitive and cooperative strategies employed by profit-maximizing firms in a wide range of market structures. Topics include: the setting of prices and outputs, product quality and variety, competitive responses, entry barriers, mergers and acquisitions, and relationships with suppliers and distributors. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Present public policy and unsettled issues with respect to structure and practices of industrial markets; concentration, vertical integration, and forms and effectiveness of competition. Prerequisites: 281, 310-1,2.
Use of economic analysis to understand the incentives, workings and efficiency of the legal system. Topics include: torts, contracts, property, criminal law, corporate law, and antitrust and regulation statutes. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Factors affecting the spatial distribution of economic activity within cities and between different regions of a country. Choice of residential and workplace location. Applications of economic analysis to problems of urban areas such as housing markets, zoning restrictions, and racial and social patterns of employment and housing. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
The economic rationale for the non-profit sector in a mixed economy. Topics include: objectives and behavior of non-profit organizations, competition with commercial firms, volunteerism, and charitable donations. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Economics of Nonprofit Organizations will explore the economic rationale for the non-profit sector, with a particular focus on how to model theoretically the value added of a nonprofit organization and how to estimate empirically its likely impact.
This is an “experiential learning” course. Students, in groups of no more than four, will work directly with nonprofit organizations to conduct an "impact audit", a new tool and standard for assessing nonprofit effectiveness. In addition to completing the pre-requisites (ECON 281, 310-1,2; or equivalent with permission of the instructor), students must complete a brief application linked here:
ECON 360-1 Foundations of Corporate Finance Theory
How corporations allocate resources over time as facilitated by capital markets. Topics include: discounting techniques and applications, stock and bond valuation, asset pricing models, diversification and portfolio choice, capital budgeting, and basic option theory. Prerequisites: ECON 281-0, ECON 310-1, ECON 311-0. (May not receive credit for both this course and BUS_INST 304-0. Not for students who have previously taken KELLG_FE 310-0.)
Factors influencing trade in goods and services between countries and the implication of globalization. The reasons for, and the effects of, trade policy instruments such as tariffs, quotas, and voluntary export restrictions. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2, ECON 311-0.
Evaluation of economics models and public policy concerning natural resources such as farming, fisheries, forests, minerals, ores and fossil fuels. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2. (Students may not receive credit for both ECON 370-0 and ECON 373-0.)
First part of the specialized sequence in econometrics. A more rigorous and higher level alternative to ECON 281-0. Economics majors completing ECON 381-1 will have the ECON 281-0 requirement waived. Prerequisites: ECON 310-1, (ECON 310-2, ECON 311-0 recommended), MATH 226-0, MATH 230-1, MATH 230-2, MATH 240-0 and MATH 314-0 (or equivalent).
Methods for using actual data together with modern software to build, assess critically, and interpret econometric models of real world phenomena and policy issues. Prerequisites: ECON 281-0, ECON 310-1.
For students of superior ability. Original research on a topic of interest to the student, culminating in a senior thesis. By department invitation only. Grade of K given in 398-1. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2, ECON 311-0, MATH 220-2, MATH 230-1; at least four 300-level economics electives.
M 3:30-5:20 (in KGH 2110), F 2:00-3:20 (in KGH 1410)
ECON 410-2 Microeconomics
Theoretical treatment of the behavior of consumers and firms. Topics include: uncertainty, monotone comparative statics, competitive equilibrium, matching, game theory, informational asymmetries, and mechanism design (Required sequence.)
Theoretical methodologies and their application to the study of dynamic economies. Topics include: economic growth and business cycles, the determinants of consumption and investment, and the effects of monetary and fiscal policy. (Required sequence.)
Current topics in microeconomic theory. Mathematical formulations and techniques and their applications in fields such as political economy, industrial organization, and finance.
Recent contributions to macroeconomics. Topics may include: models with heterogeneous agents, the role of financial markets and of the housing market, models of search and unemployment, the role of market power in good markets, and inequality.
Analytical tools for understanding international trade and international macroeconomics. Topics include: the relationship between trade and growth, international trade policy, international effects of monetary and fiscal policy, capital flows, and the choice of exchange rate regimes.
Nonparametric and linear regression, identification, principles of statistical inference, extremum estimators, asymptotic statistical theory, discrete response analysis, and and structural microeconometrics. (Required sequence.)
Advanced theory of identification, estimation, and statistical inference. Topics include: partial identification of probability distributions, the bootstrap, refinements of asymptotic theory, and semi- and nonparametric structural microeconometrics.
STAT 210 Introductory Statistics for the Social Sciences
Introduction to basic concepts and methods of statistics and probability. Methods of data collection, descriptive statistics, probability, estimation, sampling distributions, confidence intervals, hypothesis testing. May not receive credit for both STAT 202-0 and STAT 210-0. Prerequisite: strong background in high school algebra (calculus is not required).
# = At the instructors discretion, subject to sufficient enrollment to justify a Teaching Assistant, a discussion session may be scheduled at a mutually convenient time.
$ = Discussion sections in core classes are for 50 minutes
