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Course Criteria
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3.00 Credits
PQ: PBPL 20000 or ECON 20000. PBPL 22100-22200-22300 may be taken in or out of sequence. Not intended for students majoring in public policy who are planning to specialize in economics or to take advanced economics courses. This course reviews and augments the basic tools of microeconomics developed in ECON 20000 and applies these tools to policy problems. We examine situations in which private markets are likely to produce unsatisfactory results, suggesting a potential rationale for government intervention. Our goal is to allow students to comprehend, develop, and respond to economics arguments when formulating or evaluating public policy. J. Leitzel. Winter.
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3.00 Credits
This course explores the history of labor and laboring people in the United States. The significance of work is considered from the vantage points of political economy, culture, and law. Key topics include working-class life, industrialization and corporate capitalism, slavery and emancipation, the role of the state and trade unions, and race and sex difference in the workplace. A. Stanley. Spring.
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3.00 Credits
By way of economic theory, applications, and contemporary issues, this course treats (1) the behavior and decision making on the part of individuals, business firms, and governments; and (2) the function of costs, prices, incentives, and markets in the American economy. We discuss contemporary topics (e.g., distribution of income, the environment, education, sports, health care). A. Sanderson. Autumn, Spring.
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3.00 Credits
By way of theory and public policy applications, this course covers current major domestic and international macroeconomic issues in the U.S. economy, including the determination of income and output, inflation, unemployment, and economic growth; money, banking, and the Federal Reserve System; federal spending, taxation, and deficits; and international trade, exchange rates, and the balance of payments. A. Sanderson. Autumn, Winter.
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3.00 Credits
PQ: One year of calculus. ECON 19800 is required of students without a prior microeconomics course. MATH 19520 is required of students who took MATH 13300. Students who are majoring in economics must follow guidelines in the preceding Mathematics Requirements section. This course develops the economic theory of consumer choice. This theory characterizes optimal choices for consumers given their incomes and preferences, as well as the relative prices of different goods. This course develops tools for analyzing how these optimal choices change when relative prices and consumer incomes change. Finally, this course presents several measures of consumer welfare. Students learn how to evaluate the impact of taxes and subsidies using these measures. Autumn, Spring.
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3.00 Credits
PQ: ECON 20000. This course is a continuation of ECON 20000. The first part of this course discusses markets with one or a few suppliers. The second part focuses on demand and supply for factors of production and the distribution of income in the economy. This course also includes some elementary general equilibrium theory and welfare economics. Autumn, Winter.
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3.00 Credits
PQ: ECON 20100. ECON 19900 is required of students without a prior macroeconomics course. As an introduction to macroeconomic theory and policy, this course covers the determination of aggregate demand (i.e., consumption, investment, the demand for money); aggregate supply; and the interaction between aggregate demand and supply. We also discuss activist and monetarist views of fiscal and monetary policy. Winter, Spring.
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3.00 Credits
PQ: ECON 20200 or equivalent. This is a course in money and banking, monetary theories, the determinants of the supply and demand for money, the operation of the banking system, monetary policies, financial markets, and portfolio choice. Autumn, Spring.
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3.00 Credits
PQ: ECON 20300 or consent of instructor. To better understand economic thought as work in progress, students in this course explore the evolution of economics. We read observations of economic activity by early writers (e.g., Xenophon and Aristotle); and observations on money by Oresme and Bodin; more systematic treatments on exchange and commerce by Smith, Ricardo, Marx, and Marshall; and twentieth-century debates. Students acquaint themselves with the cultural contexts of these writers, as well as the modern-day theories regarding the economic questions raised. Our goal is to have a better understanding of the roots of prevailing economic ideas. G. Tsiang. Winter.
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3.00 Credits
PQ: ECON 20100. This course begins with a short section on uncertainty (i.e., risk aversion, contingent claims, gambling, risk sharing). We then study various adverse selection and moral hazard problems. Specific applications include job market signaling, re-sale markets, insurance markets, search models, and sovereign debt. This course is intended for students who enjoy analyzing theoretical (mathematical) models and may be of special interest to students who are planning to study economics at the graduate level. Winter.
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