| ECON 101 |
| Basic Economic Principles |
| An introduction to modern economic analysis. A study of the principles of production and exchange, the distribution of income, money and banking, and national income analysis. Required of all majors in economics and recommended for all students planning business, legal, or public service careers. (SOC) |
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1.00 units, Lecture
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| ECON 103 |
| Fundamentals of Accounting |
A review of accounting concepts and procedures, with particular emphasis on the reasoning behind methods of measuring and recording such items as depreciation and revenues. The implications of accounting theory and practice for the measurement of income and financial positions are investigated. (SOC)
Senior economics and coordinate majors have first choice for enrollment, then junior economics and coordinate majors, then sophomores. Senior and junior non-majors need permission of instructor. |
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1.00 units, Lecture
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| ECON 202 |
| Contemporary Macroeconomic Issues |
Is all well with modern macroeconomics? Recent events have raised many questions for macroeconomists about the way the economy works and the design of macroeconomic policy. This course examines a variety of contemporary macroeconomic issues from competing theoretical perspectives. Topics include: spending versus thrift and macroeconomic performance; the role of fiscal policy in a recession; the short and long term consequences of bailouts; and the role of money and finance in the economy. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 209 |
| Urban Economics |
Economic analysis of urban areas in the regional setting; the study of location theory, land use and housing markets, and of current public policy issues pertaining to urban problems including urban poverty, the economics of race and metropolitan areas, urban transportation, and local public finance. The resource allocation process will be emphasized. (SOIP)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 210 |
| Contemporary Micro Issues |
This course covers economic decision-making by individuals, firms and factor markets, and the role of government in designing economic policy and its impact on individuals. Topics include: Price discrimination; cartels, oligopolies, and monopolistic competition; economics of network goods; labor markets; public goods; political economy; economics, ethics and public policy; incentives; stock markets and consumer choice. Some of the questions we will try to answer among others are: Is in-state vs out-of-state tuition an example of price discrimination? Can OPEC nations collude to force up the price of oil? Why do friends so often enjoy the same musical songs? Why is it that the world is running out of so many kinds of fish? Are markets fair? (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 217 |
| Economics of Health and Health Care |
Analysis of the structure of health care markets using economic principles Evaluation of current health care policies and their effects on cost, access and quality. Topics covered include the production of and demand for health and medical care; information asymmetries between patients, doctors, and payers; health insurance coverage; the effects of managed care (including HMOs) on competition, efficiency, and quality; training and practice of physicians; hospitals; prescription drug pricing; government regulations; Medicare and Medicaid; health care reform. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 218 |
| Introduction to Statistics for Economics |
As data and computing resources have become increasingly accessible, economics has become more concerned with measurement and estimation of economic phenomena. This course is designed to familiarize students with common statistical methods used in economics. Topics will include the presentation of data, descriptive statistics, probability theory, discrete and continuous distributions, sampling distributions, estimation, and hypothesis testing. (NUM)
Prerequisite: C+ or better in Economics 101 or permission of instructor. |
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1.00 units, Lecture
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| ECON 221 |
| Central Banking and Financial Markets |
Since the 1980s, financial systems in developing and developed countries have been evolving with enormous speed. During this period, central banking in many countries underwent several important changes too. The financial system and central banking cannot be understood independently of one another. On the one hand, central banking policy choices and the regulatory framework affect the financial system. On the other hand the effectiveness of central banking policies is determined by developments in the financial system. Recently, central bankers and monetary theorists have been forced to reconsider their theories and practices in response to the global financial This class focuses on the co-evolution of central banking and financial markets and the very recent changes in central banking theories and practices. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 222 |
| Macroeconomic Policy Debates |
This class focuses on some of the key macroeconomic policy questions over the past 50 years, both in the United States and abroad. We will explore the history and evolution of longstanding debates over issues such as the limits of deficit spending and government debt, monetary policy before and after the Great Recession, the applicability of import tariffs, and the impact of taxes on wealth and income. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 223 |
| Fiscal Policy in 21st Century |
This course will explore the goals, successes, and failings of fiscal policy, i.e. government spending and taxes, to influence the performance of the macroeconomy, with a focus on the great recession of 2007-2009 and the recession caused by the COVID pandemic. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 224 |
| Macroeconomics and Inequality |
US economic inequality is at record levels and is substantially greater than inequality in most other industrialized nations. This course develops key aspects of the inequality debate: how economic inequality is defined and measured, as well as the causes of income inequality in US economy and society. Topics covered will also include the macroeconomic effect of the COVID-19 pandemic and it's impact on the level of inequality. (SOIP)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 225 |
| The Economics of Climate Change |
This course introduces students to economic perspectives on important environmental challenges with a focus on climate change. We will examine the efforts employed to address these challenges at the individual, institutional and government level. Topics include estimating the social cost of carbon emission, the various tools for pricing carbon, carbon justice, and induced technical change as a response to environmental regulations. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 226 |
| Macroeconomics of Developing Countries |
The macroeconomic structure and policy options available to developing countries differ in important ways from those in high-income countries. This course explores key macroeconomic challenges and policies for developing countries in different regions of the world. Among other topics, we will examine structural constraints to aggregate demand and supply, poverty and inequality, volatility, external crises, and fiscal and monetary policy. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 228 |
| American Economic History, 1865-2008 |
This course examines the growth and development of the American economy from the late 19th century to the 2008 financial crisis. The course will cover the emergence of an industrialized U.S. economy, development of the post-WWII economy and transition to a service economy. The analysis will focus on key economic sectors-money and banking, agriculture, commerce, labor, government - and their growth and development. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 229 |
| The Economics of Urban Growth |
What role does land and housing play in the economic growth of cities? What are the causes and consequences of government intervention in markets for land and housing? In this course, we will look at the role that real estate markets play in determining economic outcomes, the role of land use policy, the history of urban development, segregation, gentrification, and the role of housing markets and policy in generating economic inequality. We will start by examining theories of urban growth and use these frameworks to understand the development of housing markets in the United States and abroad. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 235 |
| The Economics of Gender |
This course begins with a broad overview of how gender relates to economics and continues with a focus on the role of gender within different spheres: gender differences within the labor market, gender and education, gender in household bargaining, and historical perspectives on gender. The course will finish with a discussion on the role of gender in experimental economics. Through both readings and class discussions, we will uncover several explanations for observed gender differences and gain a critical understanding of the current research on gender and economics. Each student will have an opportunity to choose an area or sphere of interest to investigate and report on gender issues. (SOIP)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 243 |
| Financial Markets and Institutions |
The purpose of the course is to provide a basic understanding of the role of financial institutions (intermediaries) and financial markets in facilitating the flow of funds between those who supply funds and those who demand funds. Topics include the role of banks, other financial institutions, and financial markets in this process. Special attention is also given to the European Monetary Union and other aspects of the international financial system. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 247 |
| Introduction to Policy Analysis |
This course will introduce students to the basic ingredients of policy analysis rooted in the microeconomics of externalities (social, economic, and political), public goods, common property, information failure, absence of competition, and distributional concern. This course is not open to students who have previously earned credit for Economics 306 or Economics 311. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 250 |
| Reading and Writing about Macroeconomics |
How do economists write about macroeconomic issues for different audiences? How do they craft and communicate arguments that will help to shape macroeconomic policy? This course will introduce students to some of today's most important macroeconomic issues and how economists discuss, debate and write about those issues. After reading and engaging critically with essays from books, newspaper articles and popular journals, students will be asked to develop their own essays and demonstrate their ability to think creatively and express economic ideas clearly in writing. The format of the course will lend itself to extensive feedback on student writing and opportunities to share student work with a broader audience. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 252 |
| Big Data and Economics |
With the rise of the internet, social media, and technology, there has been a shift in the availability and the power of data. Economists now have access to "big data" that can play a role in increasing economic activity and living standards. Examples include the development of new goods and services and faster innovation through a shorter research and development cycle, as a result of more and better data. Other benefits could affect our quality of life: fewer traffic jams and easier price comparisons. This course explores both the ways that "big data" has changed our understanding of the economy as well as the ethical issues related to the collection and use of these data. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 254 |
| Macroeconomic Inequality in an Urban Context |
By 2050, 90% of the US population will be living in cities. Already this movement has resulted in increasing macroeconomic inequality within cities and between rural and urban areas. This course explores both the macroeconomic explanations of the movement to cities and the macroeconomic effects of this shift, including how urban renewal affects the work and familial lives of working-class people. In the process of this exploration, students will have the opportunity to ask critical questions motivated by their own experiences and work together to find answers to those questions. In the last part of the course, we will consider how cities can act as potential sites for economic reform and transformation. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 256 |
| The Macroeconomics of Latin American Development |
In this course, we will examine the interrelated macroeconomic and development challenges that Latin American countries have faced in the past few decades. Our focus will be on growth and economic diversification issues, and the management of key variables to deal with macroeconomic volatility. We will study these issues by analyzing the import-substitution industrialization strategy, the debt crisis, the period of neoliberal reforms, and the different policy regimes that have been in place since the early 2000s. (GLB5)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 258 |
| Introduction to Global Trade and Finance |
This course covers how the flows of trade and finance shape what we buy, at what cost, the jobs and salaries available to us, and determine the value of exchange and interest rates. Topics include the winners and losers of trade, trade policies, exchange rates, the balance of payments, globalization, and the role of international organizations in global trade and finance. (GLB5)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 259 |
| Economics of the Environment |
This course examines environmental protection and environmental degradation, including both pollution and natural resource depletion. It will focus on questions of how scarce resources are allocated among competing ends, including individuals, groups, and economic classes. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units, Lecture
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| ECON 299 |
| Independent Study |
Submission of the special registration form, available in the Registrar's Office, and the approval of the instructor and chairperson are required for enrollment. (SOC)
Prerequisite: C- or better in Economics 101. |
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1.00 units min / 2.00 units max, Independent Study
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| ECON 301 |
| Microeconomic Theory |
A study of the determination of the prices of goods and productive factors in a market economy and the role of prices in the allocation of resources. Required of all majors in economics. (SOC)
Prerequisite: B- or better in Economics 101, and C- or better in one 200 level economics course or sophomore or higher class standing. Concurrent enrollment in Economics 301 and either Economics 101 or 302 is not allowed. |
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1.00 units, Lecture
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| ECON 302 |
| Macroeconomic Theory |
An analysis of aggregate income, output, and employment, which includes the following topics: national economic accounts; theories of consumption; investment and money; Keynesian and Classical models; the monetary-fiscal debate; inflation, unemployment and growth. Required of all majors in economics. (SOC)
Prerequisite: B- or better in Economics 101, and C- or better in one 200 level economics course or sophomore or higher class standing. Concurrent enrollment in Economics 302 and either Economics 101 or 301 is not allowed. |
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1.00 units, Lecture
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| ECON 303 |
| Labor Economics |
An examination of a number of important issues in modern labor economics. Topics include (but are not limited to): the determinants of labor supply, with special emphasis on the growth of women's labor supply during the last century; the demand for labor and the determination of wages; discrimination in labor markets. (GLB5)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
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| ECON 304 |
| Macroeconomic Booms and Recessions |
This course will explore the causes of and policy responses to short-term macro-economic fluctuations and to macroeconomic crises, including the most recent Financial Crisis and Great Recession of 2007-2009. In order to do this, we will build on models introduced in Economics 302 and examine the alternative theoretical approaches underlying responses to macroeconomic fluctuations both in the US and Europe. (SOC)
Prerequisite: C+ or better in Economics 302. |
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1.00 units, Lecture
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| ECON 305 |
| Urban Economics |
The world's population is becoming increasingly urbanized, a trend which creates economic opportunities and challenges for individuals, businesses, and governments. This course will introduce students to economic models that explain why cities form, why commercial and residential land use patterns look the way they do, and how economic reasoning can inform policies addressed at urban problems, such as traffic congestion, housing affordability, crime, and homelessness. In addition, we will study how public policies such as zoning and the provision of mass transit can help remedy market failures in the urban setting. The supply and demand model and the economic theories of the consumer and the firm will be the main tools of analysis, as will ideas from public economics such as externalities and public goods. (SOC)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
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| ECON 306 |
| Public Finance: Economics of the Public Sector |
An examination of the role of tax and public expenditure policies as they influence the allocation and distribution of resources, and on the role of market imperfections as rationales for government policies. Emphasis is on the effects of taxation and public spending on consumer and producer choices. (SOC)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
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| ECON 307 |
| Health Economics |
This course will study the characteristics of the U.S. health care system and the functioning of the health care market using the tools of microeconomic theory. The aim of the course will be to discuss specific topics in the economics of health, including: the analysis of the causes of health-related behaviors such as obesity and substance abuse; the characteristics of the health care industry and how it is affected by insurance and medical technology; and the impact of government policies on health related behaviors and the provision of medical care. The role of preventive measures and the efficient use of limited healthcare resources will be examined in light of the recent health care reform and in light of their broader implications for public policy. (SOC)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
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| ECON 308 |
| Industrial Organization and Public Policy |
The course is divided into two parts. The first part consists of an examination of the structure of American industry including a critical analysis of the empirical evidence underlying the extent of competition, oligopoly, and monopoly within the United States. Comparisons are made with other industrialized nations and a number of specific industries are examined in detail. The second part of the course consists of an examination of public policy toward monopoly with specific emphasis on regulation and antitrust policies. (SOC)
Prerequisite: C+ or better in Economics 301. (Calculus is recommended, but not required) |
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1.00 units, Lecture
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| ECON 309 |
| Corporate Finance |
Valuation, the development of the modern theory of finance; efficient market hypothesis; portfolio theory; capital budgeting; cost of capital; corporate securities; the securities markets; and other selected topics in finance. (SOC)
Prerequisite: C+ or better in either Economics 301 or Economics 302. Economics 103 and either Economics 218 or Mathematics 117 or 207 are strongly recommended. |
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1.00 units, Lecture
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| ECON 310 |
| Money and Banking |
An analysis of monetary theory, institutions and policy including the nature, role and significance of money, financial markets and institutions, commercial banking and the money supply process, the Federal Reserve System, and the formulation and implementation of monetary policy, monetary theory, and related policy issues. (GLB5)
Prerequisite: C+ or better in Economics 302. |
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1.00 units, Lecture
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| ECON 312 |
| Mathematical Economics |
This course is designed to introduce students to the application of mathematical concepts and techniques to economic problems and economic theory. (SOC)
Prerequisite: C+ or better in Economics 301 or 302, and a C- or better in Mathematics 131. |
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1.00 units, Lecture
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| ECON 315 |
| Theories of International Trade |
An examination of the major theories of international trade, beginning with the classical and neoclassical models of international trade and concluding with a survey of the various alternative models of international trade developed over the past three decades. An analysis of commercial policy, preferential trading agreements and other contemporary policy issues in the international economy will be included. (SOGI)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
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| ECON 316 |
| International Finance |
This course examines the major theoretical and policy issues faced by business firms, the government, and individual investors in their international financial transactions. Topics include the following: basic theories of the balance of payments, exchange rates, and the balance of trade; interest rates and interest parity; alternative exchange rate systems; and recent developments in the international money markets. (GLB5)
Prerequisite: C+ or better in Economics 302. |
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1.00 units, Lecture
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| ECON 317 |
| Development Economics |
This course is an introduction to the economy of the developing or the lower- and middle-income countries. The course will discuss the institutional structure, the reasons for underdevelopment, and possible solutions to the unique challenges faced by the developing countries. Topics include comparative economic development, poverty, inequality, foreign aid, corruption, the situation of health, education, and the environment in developing countries. On completion of the course, a student will have an increased awareness of the challenges faced by developing countries and be able to use economic concepts to think and analyze the different issues. (GLB5)
Prerequisite: C+ or better in Economics 301 or Economics 302. |
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1.00 units, Lecture
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| ECON 318 |
| Basic Econometrics |
The formulation and estimation of models; topics include a review of basic concepts and results of statistical inference, single equation regression model, functional forms, problems of estimation, and simultaneous equation models. The computer will be used but no experience is necessary. (NUM)
Prerequisite: C+ or better in Economics 101 and a C- or better in Economics 218 or Mathematics 117 or Mathematics 207 or Mathematics 306. |
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1.00 units, Lecture
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| ECON 318 |
| Basic Econometrics with Lab |
The formulation and estimation of models; topics include a review of basic concepts and results of statistical inference, single equation regression model, functional forms, problems of estimation, and simultaneous equation models. Students must also enroll in the required lab for this course. (NUM)
Prerequisite: C+ or better in Economics 101 and a C- or better in Economics 218 or Mathematics 117 or Mathematics 207 or Mathematics 306. |
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1.25 units, Lecture
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| ECON 319 |
| The Modern Macroeconomy |
This course will examine the current state of the macroeconomy in the United States and the rest of the world. Causes and consequences of recent major events (including the great moderation of the 1990s, the Great Recession of 2007-09, and the Covid 19 pandemic) will be discussed. The course will also examine new features of the economy, such as jobless recoveries and stagnation in industrialized countries, and analyze policy responses to these developments. (SOC)
Prerequisite: C+ or better in Economics 302. |
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1.00 units, Lecture
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| ECON 323 |
| Theories of Economic Growth |
This course is concerned with the long-run economic growth of modern economies. Topics includes the measurement of real living standards, the Solow model of capital accumulation, models of technological change and innovation, the role of trade in fostering growth, the effect of population growth on economic growth, the influence of economic growth on natural resources, and questions about why some countries are affluent while others remain poor. (SOC)
Prerequisite: C+ or better in Economics 301 and 302. |
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1.00 units, Lecture
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| ECON 327 |
| Game Theory |
This course will introduce students to the fundamentals of Game Theory. The main topics include: cooperative and noncooperative games; Nash equilibrium and alternatives to Nash equilibrium; prisoner's dilemma; sequential games with perfect and imperfect information; evolutionary and experimental game theory; Bayesian games; and bargaining games. We will also explore the role of social preferences in explaining behavior. (SOC)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
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| ECON 328 |
| Applied Econometrics: Time-Series Analysis |
This course deals with econometric methods and problems that arise when data consists of observations on one or several variables over time. Topics include: autocorrelation, distributed lag and autoregressive models, ARIMA models, co-integration, and vector autoregressive correction models. (SOC)
Prerequisite: C+ or better in Economics 302 and a C- or better in Economics 318 . |
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1.00 units, Lecture
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| ECON 328 |
| Applied Econometrics: Micro-econometrics |
Application and extensions of basic econometric tools. Topics include analysis of panel data, maximum likelihood estimation, analysis of discrete and limited response data, analysis of count data, sample selection, and duration of models. (SOC)
Prerequisite: C- or better in Economics 318. |
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1.00 units, Lecture
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| ECON 333 |
| Economics of Risk and Investment |
The course considers both theoretical and empirical perspectives on risk in the context of portfolios of financial assets. Topics include standard and behavioral theories of risk, pricing risky assets, quantitative analysis of the theory of portfolio selection, and risk management. (SOC)
Prerequisite: A grade of C- or better in Economics 309. |
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1.00 units, Lecture
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| ECON 334 |
| Law and Economics |
Legal rules of property, contract and tort law create implicit prices that incentivize individuals behavior and motivate the economic approach to the study of law. This course brings together the two disciplines of economics and law to examine fundamental rules governing an exchange economy. Topics to be covered include property law, tort law (non-criminal harm or injuries), contract law and crime. Please note, this is not a course in law but in economic analysis of the law. (SOC)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
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| ECON 336 |
| The Market for Green Goods |
In many contexts, environmental and social damages can be significantly reduced if consumers substitute towards a greener version of the given products, e.g. organic food, energy efficient appliances, and green diamonds. The course will investigate alternative methods to promote green goods markets. These methods range from regulation to purely voluntary approaches taken by a firm or an entire industry. In addition, the course investigates the role of market competition, technological advances, product labeling and firm image in the development of green markets. The analysis involves the use of microeconomic theory as well as several case studies. (SOIP)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
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| ECON 339 |
| Contemporary Issues in Macroeconomics |
This course examines two relevant and contemporary topics in macroeconomics: the macroeconomics of pandemics, and, secondly, technological change, economic growth, and living standards in the long run. Regarding the first topic, we will mainly discuss the short and long run macroeconomic effects of pandemics, the policy response to the Covid-19 pandemic in terms of both fiscal and monetary policy, and the historical lessons from previous pandemics. The second topic explores the effects of technological change on growth, employment, and living standards, including some current challenges to economic growth in relation to inequality and climate change. (SOC)
Prerequisite: C+ or better in Economics 302. |
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1.00 units, Lecture
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| ECON 340 |
| The Practice of Macroeconomics |
During the course, students will be guided through case studies on significant macroeconomic policy questions in the United States from the past decade. In each case, they will examine how policymakers and their preferred theories were empowered and constrained by history, law, and institutions. Students will be taught to use data to evaluate the effectiveness of proposed policies. The objectives are for students to improve their writing and research capabilities, conduct an independent project assessing a policy or macroeconomic problem of their choice, and build fluency in contemporary policy discussions within the economics community. (SOC)
Prerequisite: C+ or better in Economics 302. |
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1.00 units, Lecture
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| ECON 341 |
| African Economic History 1500-2000 |
This course presents the modern economic history of Africa through a series of theoretical and methodological debates. The first debate we engage-which runs through the length of the course-is the disagreement among scholars of varying theoretical perspectives over what institutions and policies have fostered and hindered economic development in Africa. We also examine whether Africa was already poorer relative to other major world regions in 1500, the long-term impacts of the slave trades on Africa's economic development, the transition to "legitimate commerce" and cash crop exports, the transformation of African economies under colonial rule, and the transition from state-led development strategies to the neoliberal reforms following the sovereign debt crises of the 1980s. (SOC)
Prerequisite: C+ or better in Economics 301 or Economics 302. |
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1.00 units, Lecture
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| ECON 342 |
| Macroeconomics Since the 2007-08 Financial Crisis |
This course explores the problems that have faced macroeconomics specifically since the 2007-08 financial crisis. Some economists reacted to that crisis by calling for a complete overhaul of the discipline, while others were satisfied with more cosmetic changes. For this course we will use the book Evolution or Revolution? Rethinking Macroeconomic Policy after the Great Recession (Blanchard and Summers) as a baseline for analyzing in great depth how macroeconomic thinking and practice has changed over the past decade. This will include an analysis of how policy makers reacted to the crisis and how that in turn has impacted macroeconomic research. (SOC)
Prerequisite: C+ or better in Economics 302. |
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1.00 units, Lecture
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| ECON 343 |
| International Trade Policy and Institutions |
How are the rules of the global trading system decided? What are the key institutions that create the international norms according to which trade is conducted, and how do these institutions operate? This course explores the way conflict and cooperation among governments in the World Trade Organization and in the negotiation of Free Trade Agreements have shaped the trends in trade relationships. Using the backdrop of contemporary problems facing the global economy today, such as dissemination of the Covid-19 vaccine, the increasing digitization of trade, and the possible implementation of a Global Green New Deal, we will examine the way the rules of the game are shaped and their implications. The course will begin with a brief overview of international trade theory. (SOC)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
|
| ECON 344 |
| Behavioral Economics |
This course introduces students to the study of the psychological, cognitive, emotional, and social factors that influence, and sometimes bias, economic decision making. It will begin with an overview of what behavioral economics is and its historical origins. This discussion will be followed by a critique of the traditional economic models of decision-making and the development of alternative behavioral models rooted in the idea that human decision-making is not always fully rational. Because experiments are a valuable and often vital tool needed to answer questions raised by behavioral economists, students will be introduced to experimental methods and have the opportunity to review the empirical research conducted by behavioral economists. (SOC)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
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| ECON 350 |
| Reading and Writing about Macroeconomics |
How do economists write about macroeconomic issues for different audiences? How do they craft and communicate arguments that will help to shape macroeconomic policy? This course will introduce students to some of today's most important macroeconomic issues and how economists discuss, debate and write about those issues. After reading and engaging critically with essays from books and articles from both academic and popular journals, students will be asked to develop their own essays and demonstrate their ability to think creatively and express economic ideas clearly in writing. The format of the course will lend itself to extensive feedback on student writing and opportunities to share student work with a broader audience. (SOC)
Prerequisite: C+ or better in Economics 302. |
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1.00 units, Lecture
|
| ECON 353 |
| Analyzing Economic Policy |
When local leaders, planners, or social organizations discuss programs and spending alternatives, they may look to the tools of economic analysis to weigh their options. In general, economists argue that if the benefits outweigh the costs associated with a policy, then that policy should be pursued. However, the values for non-market activities and an appreciation of economic interdependencies within a region is anything but obvious. In this course, we explore how economists assign costs and benefits, determine indirect impacts of a policy, and how they advise on policy. While the course explores conceptual and theoretical underpinnings of these questions, a significant portion of the class will be dedicated to hands-on practice with data, software, and Hartford-region policy discussions. (SOC)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
|
| ECON 356 |
| Economic History of the US South |
The Northern and Southern regions of the United States have experienced vastly different economic trajectories since the founding of the nation. This divergence was shaped greatly by colonization, slavery, the Civil War, and Jim Crow, with effects that echo until the present day. This course focuses on using economic theory and data to analyze the history of the Southern economy and its context within the national and global economies. (SOC)
Prerequisite: C+ or better in Economics 302. |
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1.00 units, Lecture
|
| ECON 358 |
| Comparative Urban Development: Ancient and Renaissance Cities in Italy |
What do we know about the material culture of pre-Roman and early Italian Renaissance cities? What can we learn about the City as an important agent for economic and cultural development? We explore these questions through a case study of urban development in ancient central Italy (800 B.C.E. to 300 B.C.E) and early renaissance Florence. This comparative study emphasizes the urban nature of economic and cultural development in two distinct historical periods and thereby offers students a framework for understanding the contributions cities make in general to economic growth and development. It also provides them with the tools to explore some of the same economic problems that modern economies face today. (SOC)
Prerequisite: C+ or better in Economics 301 or Economics 302. |
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1.00 units, Lecture
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| ECON 360 |
| Economics of Discrimination |
This course will examine economic theories of discrimination and empirical work associated with those theories. It will investigate differences in economic outcomes by race, gender, age, religion, ethnicity, and other personal characteristics in employment, housing, credit, and consumer markets. (SOC)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
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| ECON 362 |
| Modern Monetary Debates |
In this course we will look at a number of questions relating to monetary theory and policy for which economists have proposed different, and often conflicting, answers. Among the questions we will address are the following: 1) Does monetary policy favor the rich, leading to increasing inequality with respect to income and wealth, 2) Does money arise as a result of the inefficiency of barter, or from the need for credit in a market economy, 3) Does the endogenous nature of money imply that the Federal Reserve cannot control the money supply, and 4) Must banks wait for deposits before they can increase loans and the money supply, or can banks simply increase loans and the money supply at their discretion? (SOC)
Prerequisite: C+ or better in Economics 302. |
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1.00 units, Lecture
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| ECON 364 |
| Europe and the EU: Economic Dynamics |
This course explores Europe's economic journey with a focus on the formation, development, and contemporary challenges of the European Union. Spanning from the post-WWII era to the present day, it examines key historical events shaping the EU's trajectory and determining its place in the global economy. By examining different institutional arrangements and economic structures across European countries, students will better understand the nexus between national economies and the process of European integration. (GLB5)
Prerequisite: C+ or better in Economics 302. |
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1.00 units, Lecture
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| ECON 366 |
| Feminist Economics |
This course covers the basic debates in feminist economics, covering a range of theoretical and policy issues relevant in both high and low-income countries. Issues include: gender inequality and income growth; the marginalization of care work; gender bias in central bank policy; evaluating the progress of women in the labor force; gender responsive budget initiatives; and initiatives to improve women's economic empowerment. (GLB5)
Prerequisite: C+ or better in Economics 301. |
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1.00 units, Lecture
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| ECON 399 |
| Independent Study |
Submission of the special registration form, available in the Registrar's Office, and the approval of the instructor and chairperson are required for enrollment. (SOC)
Prerequisite: C+ or better in Economics 301 or Economics 302. |
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1.00 units min / 2.00 units max, Independent Study
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| ECON 401 |
| Independent Study in Quantitative Applications |
Submission of the special registration form, available in the Registrar's Office, and the approval of the instructor are required for enrollment. (SOC)
Prerequisite: C- or better in Economics 312 or Economics 318 |
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0.50 units min / 1.00 units max, Independent Study
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| ECON 402 |
| Senior Thesis Seminar Part I |
| This seminar will address the research and thesis writing process and will include workshops on writing, data and library resources. In addition, students will be asked to present preliminary work for discussion to seminar participants, and to participate in three sets of presentations to the Department during the academic year. (SOC) |
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0.25 units, Seminar
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| ECON 403 |
| Senior Thesis Seminar Part II |
| This seminar will address the research and thesis writing process and will include workshops on writing, data and library resources. In addition, students will be asked to present preliminary work for discussion to seminar participants, and to participate in three sets of presentations to the Department during the academic year. (SOC) |
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0.25 units, Seminar
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| ECON 431 |
| Fiscal Policy in the United States |
This seminar will examine the fiscal policy decisions, and the theories that guided those decisions, during two periods in United States' history. The first encompasses the American Revolution through the Civil War (1775 -1860s). The second begins with the fiscal policy controversies surrounding the New Deal through to the present day. Topics include debates over the funding of infrastructure, the creation of institutions (such as the first banks and social security), deficits and debts, and the financing of wars. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Economic Analysis of the Law |
This seminar uses economic analysis to examine the structure and incentives of the legal system. We will discuss a wide variety of theoretical economic papers studying how rational decision makers respond to different incentives in the legal market structure to evaluate the optimal means to maximize social welfare. Topics we will study include: liability rules in tort law, contract enforcement and remedy, property law and involuntary transfers, economic incentives in intellectual property law, the legal process and various topics in criminal law. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Drug Policy |
Humans have consumed psychoactive substances such as cannabis, opium, coca, and magic mushrooms for medicinal, religious, and recreational purposes for thousands of years. Yet, many of these substances, as well as more recent psychoactive concoctions, such as heroin and cocaine, are prohibited in contemporary societies on the grounds that they are harmful to users and others. How and why might society’s view of these drugs’ harmfulness have changed over time? What impact do prohibition policies have on the consumption of drugs, and what kinds of unintended consequences do these policies have for society as a whole and for marginalized groups? Are there alternative policies that can deter drug consumption with fewer unintended effects? This course will apply economic analysis to offer answers to these questions, while examining how prohibition policies have evolved over the last century, how the current framework is codified, some of the recent departures from that framework in the U.S. and around the world, and prospects for future reforms. (WEIP)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| The History of Modern Macroeconomics |
The author of the most widely used macroeconomic textbook states that "There are two steps to learning macroeconomics. First, to see it as it is today. Second, to understand how it got there." This seminar tackles step two. It reviews macroeconomic thought of the last 100 years, from the Keynesian revolution in the 1930s to new macroeconomic directions in the wake of COVID-19 Students will learn how developments in macroeconomic thought and policies follow closely the social and political economy developments of the last century, including the great depression, decolonization of the Global South, stagflation of the 1970s, the rise of neoliberalism, and the technology boom of the late 20th and early 21st century. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Long Run Economic Growth, Crisis, and Stagnation |
The graph of global economic output per capita over the past couple millennia is often likened to a hockey stick: centuries of essentially flat average growth, and then exponential growth from the Industrial Revolution onward. But can this trend continue? The shift to unprecedented economic growth has been accompanied by instability and crisis. Additionally, there are concerns around stagnating growth. Recent studies of the headwinds facing economic growth have focused on issues as wide-ranging as secular stagnation, debates about productivity and automation, demographic shifts, and sustainability and de-growth. This seminar explores these and related issues over the long run, drawing on sources spanning economic history and contemporary macroeconomics. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Central Banking & International Financial Crises |
This seminar reviews the history of the international monetary and financial system, from the gold standard of the late 19th century to the response of central banks around the world to the COVID-19 pandemic. We will focus on how the theory and practice of central banking has adapted to institutional change in global financial markets. We will review the rise of the US dollar, the role of the International Monetary Fund in resolving sovereign debt crises, the causes and consequences of the 2008 US housing mortgage crisis, and the challenges the current international monetary system poses for low- and middle-income countries. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| The Middle Class in the US Economy |
The post WWII-1990 period is marked by some of the most remarkable economic growth in US history. During this period we also saw the growth of a strong middle class. It is often taken as a truism that a healthy society requires a healthy middle class. Currently there is a concern among social scientists that the middle income class is under attack and may be diminishing. As economists, we can ask questions about how the middle class came into existence and the role it has played in the performance of the macroeconomy. We will address these questions, along with exploring the reasons for and consequences of a declining middle class and the various policy proposals that have been put forward to address this problem. (WEIP)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Slavery and American Capitalism |
A major, and unexpected, recent development in the US is the degree to which the American public is becoming aware of the experiences of African Americans in the US economy, experiences with roots in slavery. What was slavery's role in the development and evolution of our economy? We will explore how the system of slavery was central to the development of our own financial system, to our participation in the 19th century global economy, to the accumulation of enormous wealth in both the southern and the northern states and finally, how this history continues to play an important role in our modern day economy by examining the new scholarship on American economic development, primary materials from museums, libraries and newspaper archives, and first-person accounts. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Policy Innovation & COVID-19 |
How have advanced economies, such as the U.S., Germany and Australia, responded to the economic shocks created by the coronavirus? Have some national policies proven to be more successful than others, and if so, why? The many "real-time" experiments in policy design and execution have sparked lively debates. For example, would consumer demand be better maintained by boosting workers' unemployment payments, or would paying businesses directly to maintain their payrolls be the best way to go? What happens when the Fed expands its loan policies to include not only banks, but also corporations, small businesses, and local government? This seminar will explore these questions and consider the pros and cons of macroeconomic policies engineered by Congress, the executive branch, and other governments around the world. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Lecture
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| ECON 431 |
| How Economies Grow: Theory and Policy |
This course will focus on the mechanics of economic growth, technological change, demand constraints to growth, and sources of income and growth differences between countries. In addition to exploring the theoretical foundations of economic growth, this course will explore a range of country-specific case studies that exemplify different growth strategies and trajectories across time. (WEIP)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| The Economics of Sports |
This seminar uses both theoretical and empirical economic analysis to examine numerous issues from the world of sports. We will utilize a wide range of economic modeling techniques to study a variety of academic papers that research how rational decision makers respond to economic incentives in various sporting contexts. Topics of study include: organizational structure of sports leagues; uncertainty of outcome hypothesis and competitive balance; pricing of naming and broadcasting rights; antitrust in sports leagues; stadium financing; the economic impact of sporting events; the sports labor market; and elements of sports contracts. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Topics in Development Economics |
People in developing countries frequently encounter daily challenges, such as deciding whether to send children to school or to work, low immunization rates, and inadequate infrastructure. Governments of these countries and international organizations attempt to address the issues with various programs and policy interventions. In this seminar, students will critically examine empirical research in development economics exploring these challenges and learn some of the tools used by applied microeconomists to assess policy interventions. The seminar will also include using the statistical software STATA. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Experimental Economics |
Experimental economics provides economists with an alternative to the traditional methods used in economic research. Researchers use experimental methods to answer questions when, for example, appropriate field data does not readily exists or data are highly incomplete. While a researcher is at the mercy of the coded dataset using traditional research methods, experimental economics provides researchers with the freedom and control to (at least in principle) determine each detail of the research design. Topics to be covered in this course include what constitutes a research question that requires and/or would benefit from the use of experimental methods, optimal experimental design choices, ethical considerations when collecting data from human subjects, and data collection and analysis. In this course, students will design, carry-out, and evaluate an experiment to answer a research question of their choosing. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Topics in Urban Economics |
Students will explore selected topics in Urban Economics such as crime, education, social contagion, housing, etc. (WEIP)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Central Banking and Inflation |
This seminar provides a critical analysis of the rationale, behavior, and effectiveness of central banking and alternative monetary institutions. It will emphasize the Federal Reserve System and alternative monetary arrangements from historical and analytical standpoints, treating in detail the formulation and execution of monetary policy in the context of both domestic and international constraints. Attention also is given to the European Monetary Union and current issues in international monetary relations. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Internal Labor Markets: Policy and Behavior within the Firm |
This seminar explores several aspects of workplace relationships, with particular emphasis on the relationship between the firm and its employees. Among the questions we will explore are: How do compensation and promotion policies affect the firm-employee relationship? How do such policies affect relationships between employees, and how do they affect productivity? What is the difference between a desirable job and an undesirable job? Is it possible or practical for a firm to transform the design of an undesirable job to make it desirable? Can the introduction of financial incentives turn a desirable job into an undesirable one? (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 431 |
| Issues in International Trade and Finance |
This seminar examines important and recent developments in international economics. Topics include trade policy and market structure; the economics of trading blocs such as the EU and USMCA (previously NAFTA); the economic consequences of continued U.S. external deficits; globalization and inequity; exchange rates, interest rates, and volatility; speculative capital flows and exchange rate policies; and financial crises and the prospects for the eurozone. (WEB)
Prerequisite: C+ or better in Economics 301 and 302. This course is open to senior Economics majors only. |
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1.00 units, Seminar
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| ECON 466 |
| Teaching Assistantship |
| Submission of the special registration form, available online, and the approval of the instructor are required for enrollment. Guidelines are available in the College Bulletin. Cannot be used for major credit.
(0.5 - 1 course credit) |
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0.50 units min / 1.00 units max, Independent Study
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| ECON 490 |
| Research Assistant |
| This course is designed to provide students with the opportunity to undertake substantial research work with a faculty member. Students need to complete a special registration form, available online, and have it signed by the supervising instructor. (SOC) |
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0.50 units min / 1.00 units max, Independent Study
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| ECON 498 |
| Senior Thesis Part 1 |
Written report and formal presentation of a research project. Open to all senior majors and required of all students who wish to earn honors in economics. A student who intends to write a thesis must locate a thesis adviser, and must submit a preliminary proposal to the thesis adviser by the last day of classes in the spring semester of the junior year. A final proposal must be submitted to the thesis adviser by final registration in the fall semester of the senior year. Submission date of the thesis is the third Thursday following spring recess. Seniors who undertake Economics 498-99 will be excused from Economics 431. Studies in Social Policies and Economic Research. In addition to the final proposal, submission of the special registration form available in the Registrar's Office and the approval of the instructor is required for each semester of this year-long thesis. (2 course credits to be completed in two semesters.)
Prerequisite: C+ or better in Economics 301 and 302. |
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1.00 units, Independent Study
|
| ECON 499 |
| Senior Thesis Part 2 |
Written report and formal presentation of a research project. Open to all senior majors and required of all students who wish to earn honors in Economics. A student who intends to write a thesis must locate a thesis adviser, and must submit a preliminary proposal to the thesis adviser by the last day of classes in the spring semester of the junior year. A final proposal must be submitted to the thesis adviser by final registration in the fall semester of the senior year. Submission date of the thesis is the third Thursday following Spring Recess. Seniors who undertake Economics 498-99 will be excused from Economics 431, Studies in Social Policies and Economic Research. In addition to the final proposal, submission of the special registration form available in the Registrar's Office and the approval of the instructor is required for each semester of this year-long thesis. (2 course credits to be completed in two semesters.) (WEB)
Prerequisite: C+ or better in Economics 301 and 302. |
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1.00 units, Independent Study
|