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Economics

Credits:
4
Degree Requirements:
F2, F8

A survey of economic analysis and institutions combining economic theory with a discussion of applications to the U. S. economic system for majors and non-majors. The course will include an introduction to both microeconomics and macroeconomics. Microeconomics: Study of the behavior of consumers and firms in competitive and noncompetitive markets, and the consequences of this behavior for resource allocation and income distribution. Consideration of government’s role in competitive and noncompetitive markets. Macroeconomics: Study of the determination of the domestic levels of income, output, employment and prices; study of international trade and finance. Consideration of economic growth and international trade.

Credits:
4

Development and practical application of tools of supply, demand, cost, capital, and profit analysis, including quantitative models, to
decision-making in a business enterprise. Additionally, a study of the problems of economic measurement and forecasting methods,
business planning, product strategy, and location analysis.

Prerequisites:
Credits:
4
Degree Requirements:
F8

A study of the determinants of national income, its fluctuation and growth. Contemporary fiscal and monetary theories are analyzed in
connection with the causes and control of economic growth and fluctuations.

 

Prerequisites:
Credits:
1-2

Content of the course varies with instructor. The course may be repeated for credit as long as topics covered are different.

Prerequisites:
Credits:
1-4

Content of the course varies with instructor. The course may be repeated for credit as long as topics covered are different.

Prerequisites:
Credits:
4
Degree Requirements:
F6

Drawing conclusions from limited information is a common characteristic of decision making in economics and business. Although this
course is designed to introduce the student to basic concepts of probability and statistics as applied to topics in Economics and Business,
emphasis will be placed on the use of statistical inference to reduce the impact of limited information or uncertainty in decision-making.
Topics will include descriptive statistical measures, probability, random variables, probability distributions, sampling distributions, point
and interval estimation, hypothesis testing, time series analysis, regression and the use of index numbers.

Credits:
4

This course examines the role of the public sector in the economy. Students will learn about the theoretical motivations for and effects of government involvement in the economy as well as the empirical evidence regarding the consequences of such intervention. Students of economics should expect that rational economic agents will respond predictably to changes in incentives. This course will explore the incentive structure implied by government involvement in the economy and the predicted behavioral responses of individuals and firms.
The structure of the major revenue raising (i.e., taxation) and expenditure operations of the government will be analyzed using microeconomic tools to determine their allocative and distributive effects.

Credits:
4

In Industrial Organization we study the relation between industry structure and market outcomes. Basic microeconomics teaches us that competitive markets—characterized, among other things, by the presence of many firms—yield economic efficient outcomes. Industrial Organization, on the other hand, focuses on the potential departures from efficiency in markets with fewer than many participants. Firms’ behavior and interaction, and, therefore, the achieved level of efficiency in such markets depend on a number of parameters and the aim of this course is to investigate some of these possibilities. Topics covered include non-uniform pricing by a monopoly, quantity and price competition, cartels and collusion, product differentiation, firm entry and exit, and matching markets.

 

Prerequisites:
Credits:
4

The study of the determinants of comparative advantage and international trade. The course will include analysis of the winners and
losers from trade and the resulting trade policies such as protectionism or export promotion. The course will also cover the movement of
factors across borders, specifically immigration and international investment, and the policy restricting and promoting factor flows.

Prerequisites:
Credits:
2

This course will study balance of payment flows and exchange rate determination, with an introduction to international financial markets
and instruments. It will cover economic policy under fixed and flexible exchange rates, in addition to exchange rate regime choice,
balance of payments crises, and speculative attacks.

Prerequisites:
Credits:
4
Degree Requirements:
F9

This course addresses the scope and causes of international inequality, particularly the nature of the economic problems facing the
world’s poorer countries, with emphasis on the African, South American, and Asian continents. Theories of growth and inequality,
uneven development, and the roles of schooling, foreign trade, agriculture, manufacturing, fertility, migration, finance, and the
environment in the development process will be considered. The goals of the course are to teach students how to model and use the
models to formulate policy in the unique contexts of developing economies. (Course not offered 2015-16.)

Prerequisites:
Credits:
2

An analysis of the relationship between money and economic activity with an emphasis on monetary theory, commercial banking,
financial markets and interest rates. Special attention is given to international financial markets. The interface of monetary policy, fiscal
policy and debt management is also considered. (Course offered in alternate years.)

Prerequisites:
Credits:
2

This course explores the contributions of economics to the understanding of crime and corruption. The perspectives and quantitative
analytical techniques of economics are used to examine important issues concerning crime and corruption. Topics may include: rationalchoice
criminology; development and corruption; measuring the costs of crime and corruption; organized crime, white-collar crime;
environmental crime; illicit drugs; human trafficking; gender and race issues concerning crime, and special topics selected by the
instructor. (Course offered in alternate years.)

Prerequisites:
Credits:
4
Degree Requirements:
F2, F3

The writings of Adam Smith and of Karl Marx had a profound and lasting influence on the way people think about the world. The
Industrial Revolution that took place in the interim between the publications of the works of these two thinkers literally changed the
world. This course focuses on the most important works of Smith and Marx and on the economic events taking place in eighteenth and
nineteenth century England that continue to affect the way we think and live. The works of other Classical Economists are also
examined. (Course offered in alternate years.)

Credits:
4

This course covers standard labor economic theory. Topics include market equilibria, the demand for and supply of labor (including
human fertility, human capital, hours of work, and labor force participation), wage levels and differences (including discrimination) and
unions and government as labor market forces. (Course offered in alternate years.)

Prerequisites:
Credits:
4
Degree Requirements:
F2, F3

This course uses the tools of economic analysis to explore the long-run determinants of economic growth and the implications for
policymaking today. Focus is on long-run economic change and the development of the American economy. Specific topics include the
history and development of economic institutions, the American colonial experience, early American industrialization, slavery, the
Progressive Era, the Great Depression, and the Southern economy. (Course offered in alternate years.)

Prerequisites:
Credits:
4

This course applies modern economic tools to analyze decisions regarding dating, marriage, divorce, and fertility. It also addresses public
policies that impact the family, the determinants of women's labor force participation and the gender wage gap. Empirical studies that
test the validity of the theories of family behavior will be examined.

Credits:
4

This applied economics course explores various aspects of the economics of sports and sports leagues, with a major focus on empirical
analysis. We will consider a number of topics, including: 1) the business and economics of professional team sports and sports
broadcasting, 2) analysis of leagues’ competitive balance policies, 3) player relations issues including analysis of the determinants of
players’ salaries, 4) the public finance aspects of professional sports teams and stadium financing, and relevant issues in collegiate sports.
(Course offered in alternate years.)

Prerequisites:
Credits:
4

This course applies economic theory to environmental issues and policy. This course analyzes the operation (and failure) of markets for
resources and environmental goods, and the policies governments use to intervene in such markets. (Course offered in alternate years.)

Prerequisites:
Credits:
4

Economic agents often act in face of uncertain conditions. An individual, for example, can only assess the probability of a loss when deciding to purchase an insurance policy. Similarly, a firm does not know the productivity of potential employees; and, to keep the list short, an auctioneer usually does not know how much bidders value the object for sale. Despite the intrinsic uncertainty, the above (as well as related) problems are amenable to economic analysis and in this course we will learn the tools that make that analysis possible. The careful application of these tools will help students build important analytical skills, frequently demanded from modern economists.

Credits:
2

This course uses microeconomic foundations and econometric tools to explore topics related to the education system and education
policy. Education issues will be examined from both a theoretical and an empirical framework. Course topics include human capital
theory, signaling, measuring the returns to education, teachers and labor markets, education inputs, peer effects, and school reform
policies. (Course offered in alternate years.)

Prerequisites:
Credits:
4

The issues of strategic interaction and information asymmetry have come to the forefront of virtually every functional field in economics and business. This course represents an introduction to how game theory is used as a tool to model and to solve questions of strategy as they arise in a variety of economic situations and events in the world. Modeling topics to be covered are strategic and extensive form games, Bayesian decision-making, and evolutionary stability. Possible applications include bargaining, international collective action, the credibility of macroeconomic policy, learning, and signaling.

Credits:
4

This class is an in-depth study of the tools economists use to collect, manage and analyze large datasets. Students will learn to use advanced data management functions in Stata, R, and other software packages. We will cover various techniques used to “scrape” and save data from online sources. The course will introduce a number of methods used to access and analyze data sources regardless of format (.txt, .csv, .xls, .accdb, .pdf, .html etc..). Students will learn how to write custom functions in Stata ado files and VBA applications in Microsoft Office.

 

Credits:
4

Economic theory is mainly concerned with relations among variables. Econometrics is concerned with testing the theoretical
propositions embodied in these relations to show how the economy operates, and with making predictions about the future. Topics
covered in this course include the general linear model, qualitative variables and time series analysis.

Credits:
2

This course builds on the fundamental estimation techniques learned in Economics 420 and introduces advanced econometric models,
particularly for the analysis of panel data. Topics include fixed effects and random effects, as well as first differencing and difference-indifference
models. The use of instrumental variables and two stage least squares estimation will also be examined as a method of
addressing potential endogeneity problems. (Course offered in alternate years.)

Prerequisites:
Credits:
1-4
Degree Requirements:
F11

Directed internship in law, business, government, economic consulting, or the non-profit sector. To enroll, students must be approved in
advance by the instructor and the Office of Career Services. No more than 8 internship credits may be allowed to count toward the
credits required for graduation. Student interns are expected to keep a regular log of their activities and write two papers reflecting on
their experience. Does not fulfill the requirements of the major or minor. Taken pass-fail only.

Prerequisites/Corequisites: Introduction to Economics, Intermediate Microeconomics, Intermediate Macroeconomics, Statistical Analysis for Economics and Business, or completion of the requirements for a minor in Economics.

Credits:
1

Directed internship in law, business, government, or the non-profit sector. To enroll, students must be approved in advance by the
instructor and the Office of Career Services. (Does not fulfill the requirements of the major or minor. Taken pass-fail only.)

Credits:
1-4

Content of the course varies with instructor. The course may be repeated for credit as long as topics covered are different.

Prerequisites:
Credits:
4

Senior Seminar offers students the opportunity to integrate and extend their understanding of the various areas of economic theory and
policy studied as an Economic Major. The focus of the seminar is development of the ability to critically appraise analytical models’
appropriateness and usefulness. Students will discuss, present and defend economic policy and research.

Student must have senior status to enroll.

Credits:
4

Open to candidates for Honors in Economics.

Credits:
4

Open to candidates for Honors in Economics.