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Course Criteria
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4.00 Credits
The neo-Marxist paradigm is applied to the study of monopoly capitalism, capitalist accumulation, labor process, economic downturns and inflation, underconsumption, and economic stagnation. Neo-Marxist and non-Marxist analyses of advanced capitalism are contrasted. Prerequisite: Economics 102.
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4.00 Credits
An analysis of theories of price determination and allocation of resources by the market; factor prices, income distribution, and poverty; effects of monopoly and imperfect competition; and problems of the consumer society, public goods, and social welfare.
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4.00 Credits
GIS Topics in Macroeconomics An examination of advanced topics in macroeconomics and a critical review of contemporary macroeconomic theory and models with regard to their historical development. The foundations of macroeconomic theory are studied, and alternative approaches to economic growth, distribution, increasing returns, and endogenous change are analyzed. Monetary and financial aspects of macro foundations are discussed, focusing on the work of Minsky, Tobin, Sargent, Lucas, post-Keynesians, neo-Keynesians, new Keynesians, and neo-Ricardians. Readings are drawn mainly from the primary journal literature. Prerequisites: Economics 102 and 202.
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2.00 Credits
This required seminar exposes juniors to the rigors and intricacies of original research in economics, familiarizes them with the economics literature and research methods, and provides them with an opportunity to explore potential topics for their Senior Projects. Student interests determine the topics. Students read a selected research article every week and rotate the presentation and critique of papers and the leading of discussions. Each student prepares a written report of the articles he or she presents and attends relevant academic and research seminars in the area. Two credits. Prerequisites: junior status and Moderation in economics. Moderated sophomores and seniors may be admitted with permission of the instructor, subject to enrollment limit.
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4.00 Credits
An examination of the development of economic thought through the past century, beginning with Alfred Marshall, originator of the graphical analysis of demand and supply. Indepth coverage is given to the emergence of the now dominant neoclassical (anticlassical?) school of economic thought and the Keynesian revolution in macroeconomic theory and policy after 1936. Efforts to synthesize neoclassical and Keynesian views are examined; the views of dissenting schools of thought are briefly reviewed. Finally, some hard questions are considered: How have the central issues of economic science been defined and redefined across the centuries? Is economics today on the right path-have its practitioners taken the right turns or the wrong ones? Which analytical problems have been resolved, and which still await solution? Prerequisite: one economics course; 210 is recommended but not required.
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4.00 Credits
This course covers industrial organization, from traditional ideas to ideas on the frontier of economic research. The traditional literature addresses the industrial structure of the U.S. economy and antitrust policy, monopolies, and anticompetitive behavior. More recent work examines the structure of firms, markets, and organizations. Other topics include vertical integration and coordination, product differentiation and patents, auctions and bidding, and theories of advertising. The theory is examined in the context of real-world situations, both current and historical. Prerequisite: Economics 202.
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4.00 Credits
GIS, Social Policy An examination of advanced topics in international economics using theory and empirical evidence. Recent theoretical advances in understanding trade under imperfect competition, strategic trade, political economy of trade policy, and international policy coordination are discussed. Classical, neoclassical, and modern theories are used to analyze important policy issues such as the effect of trade on economic growth and income distribution, international movements of labor and capital, trade between unequal partners, crises in emerging markets, preferential trade agreements, and imbalances in agricultural trade. Prerequisites: Economics 101 and 102.
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4.00 Credits
GIS This course analyzes the variables that characterize open economies, including the balance of payments, foreign exchange regimes, and international capital movements, among others. Careful attention is paid to the relationship between them and to the impact of macroeconomic policies on these variables. Also covered is the history of the international monetary system. Prerequisites: Economics 101 and 102.
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4.00 Credits
GIS, Social Policy Econometrics is the artful blending of economic theory with statistics. Economic theory helps develop behavioral hypotheses, while statistics help test these hypotheses. For example, consumer theory sees an inverse relationship between price and quantity consumed; econometrics determines whether consumers actually behave in this way. The proper use of statistical tools, such as linear regression, multivariate regression, and hypothesis testing, is covered. Students apply these tools to a variety of economic issues, including estimating production and cost functions. Prerequisites: Economics 101 and 102.
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4.00 Credits
Environmental Studies This seminar reviews the literature of geoclassical economics from its roots in George, Locke, Quesnay, Ricardo, and Smith to the recently published work of Gaffney, Stiglitz, Tideman, Vickrey, and others. The geoclassical tradition studies the role of land tenure and related property institutions in shaping social, political, and economic life. Its interdisciplinary research agenda includes economic applications to environmental issues, urban problems, economic cycles, tax policy, public choice, the economic theory of government, trade, debt and dependency, income distribution, and territorial disputes. The class explores discrepancies between geoclassical and neoclassical postulates, and asks whether geoclassical thought constitutes a consistent body of theory. (This course satisfies the History of Economic Thought field requirement in Economics.) Prerequisites: Economics 102 and either 101 or 115. Moderated environmental studies students with related background may enroll with permission of instructor.
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