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Course Criteria
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3.00 Credits
Prerequisite: Math 115, Math Q114 or equivalent Normally Offered: Every Term A broad introductory survey in which special attention is given to the role of economic principles in analyzing and understanding current economic problems. Emphasis is placed on the functioning of markets and on examining the behavior of individual economic units such as the business firm and the consumer (microeconomics). Other areas of emphasis will vary from section to section; these may include industrial organization, income distribution, international trade, economics of the environment, or other topics.
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3.00 Credits
Prerequisite: Econ 101 & Math 129 or 130 (or placement into Math 135/140) Normally Offered: Every Term Analysis of consumer and firm behavior, and of the determination of prices and quantities in both product and factor markets. Equilibrium of the household, the firm, and the industry. Implications of alternative market structures. A theoretically oriented course that builds on the less rigorous foundation provided in introductory economics courses.
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3.00 Credits
Prerequisite: Econ 101 & 102 + Math 129 or 130 (or placement into Math 135/140) Normally Offered: Every Term An investigation of the forces determining national output, employment, and inflation. Particular attention is paid to those government policies which attempt to affect the overall level of economic activity in the U.S. A theoretically oriented course that builds on the less rigorous foundation provided in introductory economics courses.
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3.00 Credits
Prerequisite: Math 129 or 130 (or placement to Math 135/140) Normally Offered: Every Term A non-calculus introduction to statistical inference aimed at familiarizing students with common statistical concepts so they will be able to make intelligent evaluations of technical reports. Topics covered include descriptive statistics; probability, including the normal distribution; hypothesis testing, including t-tests; analysis of variance; regression and correlation.
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3.00 Credits
Prerequisite: Econ 101 and Econ 102 Normally Offered: Every Year A discussion of the rise and development of systematic economic thought. Both orthodox and heterodox economic ideas are studied in light of the social and historical context in which they developed. The course covers the origins of mercantilist thought, the physiocrats, classical political economy through Marx, neoclassical economics, the German historical school, the marginalist school, and institutional economics.
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3.00 Credits
Prerequisite: None Normally Offered: Every Year An introduction to Marxist economic analysis, giving students an initial exposure to the basic concepts and methods of Marxist economics. Several themes and concepts will run through the course; these include the processes of alienation and exploitation, the operation of contradictions and the role of dialectics, and the role of the state in capitalist societies.
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3.00 Credits
Prerequisite: Econ 101 and Econ 102 Normally Offered: From Time to Time An examination of the historical origins, present nature, and outstanding problems of our regional economy, with particular emphasis on Massachusetts. Covered topics may include: historical trends in New England's economic structure; causes and consequences of business investment and location; workers and jobs; the political economy of taxes and government spending; state and regional economic policy making; and alternative strategies for economic development.
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3.00 Credits
Prerequisite: Econ 101 and Econ 102 Normally Offered: Every Year An examination of the role that state and local governments play in financing and implementing the delivery of public goods and services. The levels and history of state and local expenditures and revenues, economic theories of the role of government, the relationship between the federal government and state and local governments, and the specific taxes used to finance state and local government activities are examined, with special attention paid to the current fiscal situation of the states, especially Massachusetts.
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3.00 Credits
Prerequisite: Econ 101 and Econ 102 Normally Offered: Every Year The economic history of the United States, beginning with the colonial period and the economic basis of the Revolutionary War. Subsequent topics include: the industrial revolution in the U.S., the economic basis for slavery and the Civil War, the broad-scale conflict between capital and labor during and after WWI, the weakness of the U.S. economy during the 1920s, and the Great Depression of the 1930s.
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3.00 Credits
Prerequisite: Econ 101 and Econ 102 Normally Offered: Every Term An economic analysis of the U.S. financial system, including examination of the major types of financial assets, financial markets, and financial institutions, as well as the major factors that determine asset prices and the structure of interest rates. Attention will be paid to the nature and operation of banking firms and the structure and regulation of the banking industry. Other topics may include: the Federal Reserve and monetary policy; the determination of the money supply; recent trends in the banking industry; lending discrimination and community reinvestment; and current public policy issues in the areas of banking and finance.
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