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Course Criteria
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0.00 - 6.00 Credits
Prerequisites: MATH 101 or equivalent and ECON 210. This course abandons the assumptions of perfect competition. Buyers and sellers may be few; information may be privately held; property rights may poorly enforced; externalities abound and uncertainty is the rule. Game theory is a general framework for analyzing the messy world of strategic interactions. Standard solution concepts such as Nash Equilibrium, subgame perfection, and Bayesian equilibrium are introduced in the context of a broad array of microeconomic topics. These include auctions, bargaining, oligopoly, labor market signaling, public finance and insurance. Class time combines lectures, problem-solving workshops, and classroom experiments. Guse.
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3.00 Credits
Prerequisites: ECON 101, 102, and 203. Further explorations of regression models, building on the material from ECON 203. The course begins with a review of the OLS model and continues to alternative models, answering questions such as: How do we proceed if the dependent variable is categorical, rather than continuous (as in the OLS model)? How might we proceed if one or more of the Classical Assumptions are violated? Underlying model assumptions and consequences are discussed. Possible topics include models for categorical outcomes, 2SLS/IV, matching methods, quantile regression, time-series analysis, and panel data models. The course emphasizes the use of data and student-directed research. Anderson, Blunch.
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4.00 Credits
Prerequisites:INTR 202 or equivalent. Much of the work done by consulting companies, banks, insurance companies, think tanks, non-governmental organizations, government agencies, etc., is based on applied statistical and econometric analysis. This course helps prepare students for careers in these environments using a hands-on approach and emphasizing the use of data and student-directed research in the specific context of health-related issues. Example of these issues include obesity, vaccinations, pre- and post natal care, contraceptive use, or child mortality; possible determinants include poverty, education, or distance to the nearest health clinic or hospital. An interdisciplinary perspective is highlighted, as is the use and importance of quantitative analysis for public policy. Blunch
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3.00 Credits
Prerequisites: ECON 215 and permission of the instructor. This seminar explores the theory, institutions, and history of central banks. It is a reading- and research-intensive course designed to give the student a deep knowledge of theoretical and current issues facing central banks. Readings include classic theoretical studies of central banks by economists such as Bagehot, Friedman, and Schwartz, as well as modern studies such as Leijonhufvud, Goodhart, and Eichengreen. Each student chooses additional readings from the area of theory, history, institutions, or people related to central banking. Hooks.
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3.00 Credits
Prerequisite: ECON 215. This course explores monetary union within the European Union. Topics considered include: economic theories about monetary union; policy choices for the new European Central Bank; labor market adjustments to a common monetary policy; fiscal Economics policy coordination among participating countries; and possible expansion of the euro area. Students research topics by country and share their findings through oral and written presentations. Consideration is given to how this information helps to explain current events and how it influences actions taken by policymakers. In addition, the course explores the broader issues related to the impact of economic integration on politics and culture. Hooks.
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4.00 Credits
Prerequisite: ECON 215. An examination of monetary theory and monetary policy in the U.S. in the 1970s, with a focus on selected events, including the closing of the gold window, the oil crisis, and the appointment of Volker to the Federal Reserve. Includes economic, historical, cultural, and journalistic views. Seminar class requires daily reading and written reviews, as well as active participation. Hooks.
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4.00 Credits
Prerequisite: INTR 202. Studying innovation and technological change is extremely important in economics. This course examines the innovation process paying special attention to the role played by patents and patent law. After a brief introduction to patent law and the justification for patent rights, we study issues such as the financial return to patenting, the strategic use of patents in business, knowledge spillovers, and ways in which patents may deter innovation (patent trolls, patent thickets, and the tragedy of the “anti-commons”). A significant part of the course involves hands-on work with patent and financial data using Stata. Marco.
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3.00 Credits
Prerequisites: ECON 101 and 102, and either ECON 255 or 280. This course focuses on the unique characteristics of the relationship between the environment and the economy in developing nations. Differences in economic structure, political structure, culture, social organization and ecosystem dynamics are emphasized as alternative policies for environmental and resource management are analyzed. Kahn, Casey.
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3.00 Credits
Prerequisites: ECON 101, 102, and 203. A survey of the major issues of health economics, with a focus on the experiences of developing countries. Health structure of low-income countries and primary causes for their limited health performance. Health goals and policy alternatives. An examination of the role of econometrics in the evaluation of health programs is a major part of the course, including review of instrumental variables and matching methods. Blunch.
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3.00 Credits
Prerequisite: At least one course from among ECON 203, 210, or 211. Course emphasis and prerequisites change from term to term and will be announced prior to preregistration. May be repeated for degree credit with permission and if the topics are different. A maximum of nine credits chosen from all special topics in economics courses may be used, with permission of the department head, toward requirements for the economics major. Staff.
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