Small, writing and discussion-oriented course exploring a specific topic or theme, and introducing skills necessary to thriving at Northwestern. Not eligible to be applied towards a WCAS major or minor except where specifically indicated.
Small, writing and discussion-oriented course exploring a specific topic or theme, and introducing skills necessary to thriving at Northwestern. Not eligible to be applied towards a WCAS major or minor except where specifically indicated.
Small, writing and discussion-oriented course exploring a specific topic or theme, and introducing skills necessary to thriving at Northwestern. Not eligible to be applied towards a WCAS major or minor except where specifically indicated.
Small, writing and discussion-oriented course exploring a specific topic or theme, and introducing skills necessary to thriving at Northwestern. Not eligible to be applied towards a WCAS major or minor except where specifically indicated.
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 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.
Application of microeconomics to the study of health insurance and the health care sector. Topics include: design and financing of health insurance, public and private demand for medical care, role of competition, regulation of hospitals and physicians, roles of nonprofit and for-profit organizations, and technological change. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
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.
Algorithms and data are increasingly used to guide high-stakes predictions about individuals, with a range of economic and social implications. This course covers theoretical frameworks for thinking through those implications. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2, MATH 220-2, MATH 230-1.
ECON 323-2 Economic History of the United States After 1865
Economic development of the United States with emphasis on changing structure and performance of the economy: 1865 to the present. Prerequisites: ECON 281-0, ECON 310-1, ECON 311-0. ECON 323-1 is not a prerequisite.
Western European developments from 1750 to the present. Topics include: demographic, technical, social, and economic change. Prerequisites: ECON 281-0, ECON 310-1, ECON 311-0.
Economists have found it useful to relax the traditional assumptions of an economy in equilibrium populated by agents who are perfectly rational. Complexity economics is one alternative approach that assumes that markets may not be in equilibrium and that the people in the economy may not perfectly understand their environment. They face fundamental uncertainty in their decision-making. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2, ECON 311-0.
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.
The economic analysis of education. Topics include: returns to schooling, individual decisions to invest in education, the production of education, markets for schools and teachers, financing, and public policy. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Application of microeconomic tools to the problems and issues caused by monopoly power in the context of antitrust law, public utility regulation, and intellectual property. Use of economic theory and landmark legal cases to study the purpose and development of policies to mitigate anti-competitive practices, and highlight currently unresolved public policy debates. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
ECON 355 Transportation Economics and Public Policy
Economics of all forms of transportation and the regulatory and public policy environment in which they operate. Topics include: demand by passengers and freight shippers, costs of production, optimal pricing, regulatory interventions, subsidies, evaluation of investment, and dealing with congestion. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
Application of economic analysis to creative and performing arts, and the heritage and cultural industries. The economic organization of the cultural sector and with the behavior of producers, consumers and governments in that sector. Prerequisites: ECON 281-0, ECON 310-1, ECON 310-2.
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.)
A preparatory course held prior to the Fall Quarter of the student’s first year. Emphasizing mathematical concepts and results applied in graduate economics courses. Topics include linear algebra, multivariate calculus, constrained optimization and probability theory. Registration is only necessary for students obtaining a combined BA/MA degree in Economics. PhD students should not register.
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.)
Information imperfections and asymmetries in markets and organizations. The theory and application of mechanism design to markets and contracts. Topics include: modeling information, search, the value of information, games with incomplete information, adverse selection and moral hazard.
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.)
STAT 210 Introduction to Probability and Statistics
A mathematical introduction to probability theory and statistical methods, including properties of probability distributions, sampling distributions, estimation, confidence intervals, and hypothesis testing. STAT 210-0 is primarily intended for economics majors. May not receive credit for both STAT 202-0 and STAT 210-0. Prerequisite: strong background in high school algebra (calculus is not required).
$ = discussion sections in core classes are for 50 minutes
