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Course Criteria
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4.00 Credits
A theoretical and empirical analysis of the structure, conduct and performance of American industry. Emphasis is placed on the use of microeconomic theory to analyze the effects of public policies on market incentives and resource allocation. Topics include theories of the firm, monopolization, mergers, antitrust law, price fixing, price discrimination and other contemporary problems. Prerequisite: Economics 200 and 251.
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4.00 Credits
This course analyzes the law using economic principles. In particular, it employs the techniques of microeconomic theory in the study of policy issues and legal rules. Topics such as property rights, externalities, contract law, tort law (accidents), product liability and criminal adjudication are critiqued in terms of how different incentive structures motivate economic actors. The course includes the study of how economic goals conflict with and complement other goals of the law, such as justice and fairness. Prerequisite: Economics 251.
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4.00 Credits
An analysis of deficiencies of the market system and existing property rights structure that generates pollution problems in industrial society. Alternative policy options are considered, including incentive-based approaches and cost-benefit analysis. Prerequisite: Economics 251. Also offered as Environmental Studies 308.
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4.00 Credits
A study of labor markets and the role they play in the determination of wages, employment and working conditions. The demand for labor by employers, leisure-labor supply decisions by households, investment in human capital, distribution of earnings among individuals and the effects of labor unions are discussed. Topics covered may include analysis of the role of government policy in the areas of income maintenance, unemployment, education and occupational health and safety. Prerequisites: Economics 200 and 251.
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4.00 Credits
This course explores the roles of money, banks and government policy in promoting economic growth and stability in a modern economy. In particular, the course investigates the operational principles of modern banks and the Federal Reserve System and compares their strengths and weaknesses to other historical and theoretical banking systems. The course focuses on the effects of monetary institutions and policy on macroeconomic stability, including inflation and business cycles. Other topics may include the history of American banking, current issues in bank regulation, electronic money, the role of financial markets and international monetary economics. Prerequisite: Economics 252.
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4.00 Credits
This course is a standard course in investments. Among the subjects to be covered are the role of financial intermediaries and financial instruments, the time value of money, bond valuation, stock valuation, risk and return, market efficiency, and investment companies. Special attention is devoted to hedge funds, options and futures. Prerequisites: Economics 251 and 200.
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4.00 Credits
This course uses microeconomic tools and theory to examine the efficiency of markets and to enumerate potential roles for government when markets fail. The efficiency and equity of government expenditures and tax policies are examined by looking at their impact on individual behavior and the distribution of income. Current policies of state, local and federal governments are examined to see how real-world complications (like politics and information problems) can lead to outcomes that are very different from economic prescriptions. Prerequisite: Economics 200 and 251.
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4.00 Credits
This course focuses on the theory of international trade and finance and its application to current policy problems such as protection, intervention in foreign exchange markets, international debt and foreign investment. Prerequisites: Economics 251 and 252 or permission of instructor. Also offered through European Studies.
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4.00 Credits
Analysis of the development of major economic concepts. Ideas are examined for their relevance both to their own time and to ours. Coverage extends from the ancient philosophers into the 20th century, with special emphasis on the original writings of Adam Smith and Karl Marx. Prerequisites: Economics 251 and 252 or permission of instructor. Also offered through European Studies.
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4.00 Credits
This course examines the problems of economic growth and development in the less developed countries (LDCs) of Asia, Africa and Latin America. Although a variety of approaches to development economics are studied, the analysis of new institutionalist economics is emphasized. By the end of the semester, participants should be able to understand (1) the economic diversity, as well as the diversity of development problems, among LDCs, (2) the conditions necessary or conducive to economic growth and the institutional hindrances to growth, and (3) the economic implications of alternative development strategies and policies. Prerequisites: Economics 200, 251 and 252. Also offered through Caribbean and Latin American Studies and Global Studies.
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