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Course Criteria
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3.00 Credits
This course surveys the development of Japan's economy. A brief historical introduction focuses on the preconditions for economic modernization and the role of the government in Japan's late nineteenth- and early twentieth-century experience. The course then concentrates on an overview of Japan's post-World War II experience of recovery, explosive growth, slowdown, and attempted reform. Students consider whether the Japanese economy operates according to principles, objectives, and structures that are substantially different from those of the West. Japan's economic impact on other East Asian countries and relatedness with the world economy are also explored. Prerequisite(s): Economics 101 or 103. Open to first-year students. [W2] M. Maurer-Fazio.
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3.00 Credits
China's economy, now among the world's largest, has grown more rapidly than any other nation's over the last three decades. In this course, students explore the dynamism of China's recent economic transformation and the challenges it faces in the context of the enormous structural changes China has experienced in the twentieth and twenty-first centuries. They address fundamental questions about the transition from socialism, the nature of market systems, and how institutions and institutional change affect economic development. Prerequisite(s): Economics 101 or 103. Enrollment limited to 25. [W2] M. Maurer-Fazio.
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3.00 Credits
In this course students investigate how China's economic reforms are affecting the working lives and well-being of its immense work force. Over the last three decades, China has experienced rapid structural change as tens of millions of Chinese have moved out of the agriculture sector and into the industrial and service sectors. The concomitant migration of workers from the countryside to urban areas is the largest migration in human history. Students focus on the distributional implications of China's reform experience. They consider which institutional legacies are shaping emerging labor markets, how far China has moved toward a market-determined labor system, and which segments of China's enormous population have benefited and which have been harmed by the reforms. Prerequisite(s): Economics 101 or 103. Enrollment limited to 25. M. Maurer-Fazio.
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3.00 Credits
Optimal control theory unifies numerous economic problems related to the creation and use of physical capital. This course introduces optimal control theory as a tool for dynamic optimization and applies that theory to a variety of classic economic problems involving capital. Among the economic problems examined are optimal use of a renewable resource, optimal use of a nonrenewable resource, and optimal economic growth when growth begets pollution. The course includes formally proving Pontryagin's maximum principle, which characterizes dynamic optima, in the special case context of common economic problems. Prerequisite(s): Mathematics 206 and one economics course. M. Murray.
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3.00 Credits
This course offers experience with spatial environmental and economic analysis by using geographical information systems technology (GIS) to explore case studies on environmental and social change. Topics in environmental justice such as hazardous waste facility sitings, urban density, poverty, disaster management, and others are examined. Students use mapping technology and available data sources including census and landuse data to learn to apply visual technology for economic analysis. They study how the visualization and presentation of data can inform economic decision making and policy making. Prerequisite(s): Economics 101 or 103 and 250. Enrollment limited to 20. L. Lewis.
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3.00 Credits
How is the value of an ecosystem altered by human development Answering this question requires an understanding of both economics and ecosystem structure and function. In this interdisciplinary course, students explore the structure and function of ecosystems before and after human modification and the relationship of these characteristics to their economic value. Students focus on river systems in Maine from source to sea. This course involves many day trips and two longer trips off campus. Prerequisite(s): Environmental Studies 203 or Economics 222. Enrollment limited to 12. Instructor permission is required. H. Ewing, L. Lewis.
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3.00 Credits
A study of competition and monopoly, antitrust policy and public-utility regulation, determination of wages and other sources of income, income distribution, and pollution and public policy. Enrollment limited to 35. Normally offered every semester. J. Hughes, M. Maurer-Fazio, Staff.
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3.00 Credits
A survey of major economic issues in the United States, such as economic growth, employment, and inflation. Students discuss the causes and consequences of fluctuations in income, employment, and inflation, and analyze fiscal and monetary policies designed to correct them. Economics 101 is helpful preparation, but not required. Enrollment limited to 35. Normally offered every semester. D. Riera-Crichton, G. Perkins, Staff.
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3.00 Credits
The theory of accounting is presented to the beginner as knowledge fundamental to understanding any business enterprise. The course includes practice with accounting methods and exposure to financial statement relationships. Not open to students who have received credit for Economics s21. Open to first-year students. Enrollment limited to 30. Normally offered every year. B. Farber.
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3.00 Credits
Trends and patterns in international trade and finance are discussed in relation to topics such as trade and growth, tariffs and trade restrictions, economic integration, and international economic cooperation and policy. Not open to students who have received credit for Economics 334. Prerequisite(s): Economics 101 and 103. Enrollment limited to 25. D. Riera-Crichton.
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