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Course Criteria
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4.00 Credits
Begins with a short introduction to mercantilism, then moves to the classical school, examining the contributions of its main figures (Smith, Malthus, Ricardo, Mill, and others). Ends with Marx's reaction to classical doctrines and the Marginalist Revolution of the late 19th century, which set the foundation of modern neoclassical economics. Conceptually, covers a variety of topics but focuses on two main entities: first, the normative aspects of the debate on the factors determining the value of commodities and the related issue of the principles that ought to govern the allocation of wealth; and Department of Economics second, various theories of economic growth and historical change, including predictions made on the future of capitalism.
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4.00 Credits
Study of the interface between ethical and economic theories. Specific topics covered include a brief overview of various ethical ideas, an analysis of the ethical presuppositions of modern economic theory (especially welfare economics), utilitarian ethics, the moral status of free exchange, the ethical implications of imperfect knowledge between bargaining parties, cost-benefit analysis and human rights, the economic content of the "general welfare," and laissez-faire.
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4.00 Credits
Economic policy has been important since the beginning of systematic economic thought. This course examines a few selected policy recommendations drawn from classical to present-day economic thought. The examined policies may vary from year to year. Some of the thinkers are Adam Smith, Jeremy Bentham, John Stuart Mill, Philip Wicksteed, Arthur C. Pigou, John Maynard Keynes, Friedrich Hayek, and such modern behavioral economists as Richard Thaler. The topics range widely: the protection of domestic industry, use of taxes to deal with external effects, property rights, the government direction of investment, and alternatives to revealed preference as a welfare standard.
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4.00 Credits
Indicated for students with an interest in learning how to apply game theoretical analysis to a variety of disciplines. The course aims to provide a mostly applied overview of game theoretical concepts and emphasizes their use in real-world situations. By the end of the course, students should have developed tools that will allow them to formally analyze outcomes in strategic situations.
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4.00 Credits
Allows students to understand the origin and evolution of financial crises. Various policy options that may prevent and mitigate financial crises and the restructuring of the global financial architecture to prevent or limit future crises are examined. Although the course focuses mostly on the United States and on the most recent financial crisis, it will also examine earlier financial crises in the United States (such as the Great Depression) and past financial bubbles, such as the 17th century Dutch Tulip mania and the 1997 Asian crisis.
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4.00 Credits
The city as an economic organization. Urbanization trends, functional specialization, and the nature of growth within the city; organization of economic activity within the city and its outlying areas, the organization of the labor market, and problems of urban poverty; the urban public economy; housing and land-use problems; transportation problems; and special problems within the public sector.
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4.00 Credits
Money supply; banking as an industry; banks as suppliers of money; the Federal Reserve System and monetary control; monetary theory; and contemporary monetary policy issues.
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4.00 Credits
Defines poverty and welfare. Analyzes who the poor are, why some people are rich and others poor, equality of opportunity, income and status, inequality, trends in the degree of inequality, government's role in income distribution, and international comparisons of inequality.
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4.00 Credits
Focuses on international trade in goods, services, and capital. It serves as an introduction to international economic issues and as preparation for the department's more advanced course Topics in the Global Economy (ECON-UA 324). The issues discussed include gains from trade and their distribution; analysis of protectionism; strategic trade barriers; the trade deficit; exchange rate determination; and government intervention in foreign exchange markets.
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4.00 Credits
Department of Economics Examines important economic influences on decisions women make concerning labor force participation and family. Theory of labor market behavior and discrimination, as well as public policy options.
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