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Course Criteria
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3.00 Credits
Full course for one semester. This course considers the development of economic thought by focusing on several crucial issues that economics has addressed throughout history, including resource scarcity, the sources of economic growth, the role of government in a market economy, and the effects of international trade. We focus primarily on the development of economic thought between 1770 and 1940. Readings come from the works of Smith, Malthus, Ricardo, Mill, Marx, Marshall, Keynes, and Schumpeter. Prerequisite: Economics 201. Conference. Not offered 2009-10.
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3.00 Credits
Full course for one semester. A study of classical and contemporary monetary theory, the structure and operation of private and public monetary and financial institutions, and the techniques and objectives of monetary and fiscal policy. Contemporary policy problems emphasized include maintenance of full employment and economic growth, prevention of inflation, and economic stabilization. Prerequisite: Economics 201. Conference. Not offered 2009-10.
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3.00 Credits
Full course for one semester. This course examines the macroeconomic linkages between countries. The core of macroeconomic theory is extended to the open economy. In this context, a number of issues are addressed, including currency crises, international policy coordination, and the choice of an exchange rate regime. Illustrations come from the adoption and abandonment of the gold standard, the European monetary union, and financial crises both past and present, including a discussion of the origins and transmission of the current worldwide economic crisis. Prerequisite: Economics 201. Conference.
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3.00 Credits
Full course for one semester. This course studies the economic history of Europe between 1300 and 1950. Emphasis is placed on understanding the sources of economic growth, especially technological and institutional progress, and key developments in the historical economy. Topics include the economic consequences of the Black Death, medieval agriculture and serfdom, the Industrial Revolution, welfare systems, the standard of living, the development of capital markets, varying patterns of development, and the Great Depression. Prerequisite: Economics 201. Conference. Not offered 2009-10.
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3.00 Credits
Full course for one semester. This course considers the role of government in the economy. We examine the theoretical rationale for government intervention in the economy and the economic consequences of such government intervention, with examples coming primarily from the United States. In addition, the course studies how taxation affects economic efficiency, income distribution, capital formation, and microeconomic incentives. Major topics include environmental regulation, publicly funded education, welfare, social security, health care, tax reform, and international public finance. Prerequisite: Economics 201. Conference. Not offered 2009-10.
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3.00 Credits
Full course for one semester. This course examines in detail the major sectors of the economy associated with the production and consumption of energy: oil, natural gas, electricity, coal, renewables such as wind and biofuels, and nuclear power. In addition, we will review the roles of energy efficiency, including conservation and demand-side management, in the development of a risk-sensitive portfolio approach to meeting the demand for various forms of energy. The course will also review current public policy debates associated with energy. Prerequisite: Economics 201. Lecture-conference. Not offered 2009-10.
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3.00 Credits
Full course for one semester. This course presents an economic analysis of environmental issues and policies. We will examine the impact of the economy on the environment, the importance of the environment to the economy, and how policies such as transferable permits, subsidies, taxes, and regulations affect the environment and economy. Concepts covered in this course include static efficiency, equity, property rights, discounting, cost-benefit analysis, risk and uncertainty, market failure,nonmarket valuation techniques, and sustainability. Prerequisite: Economics 201. Conference. Not offered 2009-10.
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3.00 Credits
Full course for one semester. This course presents an economic analysis of renewable and nonrenewable natural resources. Concepts introduced include static and dynamic efficiency, equity, property rights, discounting, market failure, nonmarket valuation, and sustainability. The course will cover current and proposed policies for resource management such as transferable quotas, taxes, subsidies, regulations, and public versus private ownership. Prerequisite: Economics 201 and Mathematics 111 or consent of instructor. Conference.
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3.00 Credits
Full course for one semester. An introduction to the economics of growth, innovation, and technological change in industrialized market economies. The neoclassical growth model is used as a theoretical basis for exploring empirical studies measuring the causes of economic growth. The causes and nature of innovative activity, as well as its effect on technological progress, are explored. Issues of appropriability and diffusion of technology are addressed. Industry and country studies are used to gauge the effect of technological change on economic performance. Prerequisite: Economics 201. Conference.
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3.00 Credits
Full course for one semester. In this course we study imperfect competition and the policy responses to it that economists often prescribe. These responses generally fall into two categories: regulation and antitrust. We will introduce models to explain and predict firm behavior, and apply them to the telecommunications, electricity, airlines, and computer industries, among others. Topics include natural monopoly, optimal and actual regulatory mechanisms, deregulation, mergers, predatory pricing, and monopolization. Prerequisite: Economics 201. Conference. Not offered 2009-10.
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