ECON 1 and 2 provide a two-semester introduction to economic analysis and its applications. Examples are drawn primarily from the economy of the United States although most of the analysis is transferable to other economies. In areas in which there is considerable disagreement about economic analysis or about the nature of the real world, the courses explore the issues underlying the disagreement.

ECON 2 is devoted primarily to macroeconomics with emphasis on the determination of the aggregate level of economic activity, economic growth, analysis of government policies, short-run economic stability (the degree of unemployment and the rate of inflation) and long-run economic growth. Other important topics, such as international finance, will also be examined, though in somewhat less detail.

Because the subject matter in ECON 2 is based on that of ECON 1, ECON 1 is a prerequisite for ECON 2. Moreover, the two courses may not be taken at the same time (without the permission of the ECON 2 Course Head ~ Dr. Luca Bossi.)

This course is about strategically interdependent decisions. In such situations,the outcome of your actions depends also on the actions of others. When making your choice, you have to think what the others will choose, who in turn are thinking what you will be choosing, and so on. Game Theory offers several concepts and insights for understanding such situations, and for making better strategic choices. This course will introduce and develop some basic ideas from game theory, using illustrations, applications, and cases drawn from business, economics, politics, sports, and even fiction and movies. Some interactive games will be played in class.

NOTE: This course may NOT be taken concurrently with or after ECON 212.

Crosslisted with PPE 201.

Prerequisites: Some High School Algebra; ECON 1.

This course presents an overview of the field of development economics. The general aim is to show how economic analysis has been applied to issues related to developing countries. Among the topics covered are: income distribution, poverty, health, population growth, migration, growth, and the rural economy.

Prerequisites: ECON 1 or ECON 10

This course covers topics in labor supply and labor demand, income distribution, labor market contracts and work incentives, human capital, labor market discrimination, job training and unemployment.

Prerequisites: ECON 1 or ECON 10. Credit cannot be received for both ECON 33 and 233.

The relationship of economic principles to law and the use of economic analysis to study legal problems. Topics will include: property rights and intellectual property; analysis of antitrust and of legal decision-making.

Prerequisites: ECON 1 or ECON 10. Credit cannot be received for both ECON 36 and 234.

Introduction to the theory of international trade and international monetary economics. The theoretical background is used as a basis for discussion of policy issues. Patterns of international trade and production; gains from trade; tariffs, and other impediments to trade; foreign exchange markets, balance of payments, capital flows, financial crises, coordination of monetary and fiscal policy in a global economy.

Note: ECON 50 is a one-semester course in international Economics. Students wishing to study the subject in greater depth should take instead the two-semester sequence ECON 251-252. A student who receives credit for Economics 50 will receive no credit for either ECON 251 or 252.

Prerequisites: ECON 1 and 2 or ECON 10.

Facts and theories about the determination of per capita income and its differences across countries and across time. The study of economic fluctuations in output and employment. The role of government in influencing these aggregate variables: monetary and fiscal policy.

Prerequisites - ECON 101, MATH 104 and either 114 or 115. FNCE 101 does not satisfy any of the Economoics department requirements. Students are required to take Econ 102.

This course is designed to introduce students to econometric techniques and their applications in economic analysis and decision making. The main objective of the course is to train the student in (i) handling economic data; (ii) quantitative analyses of economic models with probabilistic tools; (iii) econometric techniques, their application as well as their statistical and practical interpretation; (iv) implementing these techniques on a computer.

The course focuses on practical and conceptual issues involved in the substantive applications of econometric techniques. Estimation and inference procedures are formally analyzed for simple econometric models and illustrated by empirical case studies using real-life data. The course covers linear regression models, simultaneous-equations models, discrete choice models and univariate time series models. Estimation and Inference is conducted using least squares and likelihood based techniques. Students are required to perform several econometric analyses of their own.

Prerequisites: ECON 101 and 103, MATH 104 and either 114 or 115 or with instructor's permission.

This course uses economic tools to explore decision making and allocation of resources within the family. Both economic theory and econometric evidence to investigate these issues. The impact of gender roles and differences will be examined and the effect of these differences on economic decisions and outcomes both within and outside the family will be discussed.

Student participation will be an integral part of the course. During class, students will be required to evaluate data and relate it to the theoretic model covered. Student participation will also include two in-class oral presentations. Students will be working with CWiC (Communication Within the Curriculum) as they work on these presentations. (This class is limited to 30 students on a first come basis).

Prerequisites: ECON 101, MATH 104 and either 114 or 115.

An introduction to game theory and its applications to Economic analysis. The course will provide a theoretical overview of modern game theory, emphasizing common themes in the analysis of strategic behavior in different social science contexts. The economic applications will be drawn from different areas including trade, corporate strategy and public policy.

Prerequisites: ECON 101, MATH 104 and either 114 or 115.

This course introduces students to advanced study in econometrics, with an emphasis on methods used in microeconomic applications and in evaluating the effects of social interventions. The methods covered include methods for handling limited dependent variables (useful, for example, in forecasting the demand for a new good), maximum likelihood estimators, and flexible semiparametric and nonparametric estimation methods, and randomized and nonexperimental methods of estimating treatment effects. Applications of Econometrics to the field of program evaluation will also be studied.

Prerequisites: ECON 101 and 104, Math 104 and either 114 or 115.

This course examines the political and economic determinants of government policies. The course presents economic arguments for government action in the private economy. How government decides policies via simple majority voting, representative legislatures, and executive veto and agenda-setting politics will be studied. Applications include government spending and redistributive policies.

Crosslisted with PPE 232.

Prerequisites: ECON 101. ECON 103 is also recommended and MATH 104 and MATH 114 or 115.

This course will use basic microeconomic tools to understand how the law often, but not always, promotes economic efficiency. Among the areas to be discussed will be tort law, property law, intellectual property, antitrust regulation.

Prerequisites: ECON 101, MATH 104 and either 114 or 115. Credit cannot be received for both ECON 36 and 234.

This course provides an application of economic principles to the health care sector. By recognizing the importance of scarcity and incentives this course will focus on the critical economic issues in producing, delivering and financing health care. In particular, the course will analyze determinants of the unique role of physicians in guiding and shaping the allocation of resources in medical care markets; and competition in medical care markets, especially among hospitals. Special emphasis will be placed on the evaluation of policy instruments such as government regulation, antitrust laws, 'sin taxes' on cigarettes and alcohol, and public health programs. The course will use more advanced quantitative methods and formal economic theory; knowledge of calculus and basic microeconomics are recommended.

For ECON majors only. Intermediate Micro is a prerequisite and this course will use advanced quantitative methods. Students may NOT take ECON 39, HCMG 202.

Crosslisted with HCMG 302

Prerequisites: ECON 101, MATH 104, and either MATH 114 or MATH 115.

The process of economic growth and the sources of differences in economic performance across nations are some of the most interesting, important and challenging areas in modern social science. You cannot travel or read the news without wondering why differences in standards of living among countries are so large. The primary purpose of this course is to introduce undergraduate students to these major issues and to the theoretical tools necessary for studying them. The course therefore strives to provide students with a solid background in dynamic economic analysis, as well as empirical examples and data analysis.

Prerequisites: ECON 101, ECON 102, ECON 103, MATH 104, MATH 114 (or 115).

This is an advanced course in macroeconomics. A relatively simple, but well defined and internally consistent model of the U.S. economy is set up and used to study how output is generated given the initial resources, how output is divided between consumption and addition to capital stock, and how this process accumulates over time. The role of prices including the rate of interest in this process is also reviewed. Finally, some reasons why such a process does not necessarily result in efficient results with full employment of resources are reviewed, and monetary and fiscal policies needed to improve the performance of the economy under such circumstances are discussed.

Prerequisites: ECON 101 and 102 (ECON 103 is also recommended), MATH 104 and either 114 or 115.

This course will introduce students to the major mathematical tools that are used in modern economics, and these tools to various economic questions. The tools to be discussed may include constrained optimization, duality, dynamics, fixed point theorems, and optimal control theory.

Prerequisites: ECON 101 and 102, MATH 104 and either 114 or 115.

The course analyzes the theories of International Trade for developed and developing countries. Topics covered will include direct investment, technology transfers and multinational firms. The course will examine the political economy of trade policy where both positive and normative arguments concerning free trade and restricted trade will be analyzed.

Prerequisites: ECON 101 and 102, MATH 104 and either 114 or Math 115. A student who receives credit for ECON 251 may not receive credit for ECON 50.

In this course we learn how individuals make decisions in a world full of uncertainties, both normatively and descriptively. This theory will help us build skills in understanding and analyzing a choice problem with uncertainty in a systematic fashion, as well as deepening our understanding of the fundamental concept of a utility function, which plays a critical role in economic modeling. The course requires a substantial ability of abstract thinking. Homework is intended to be thought-provoking rather than skill-sharpening.

Prerequisites: ECON 101 and 103, and MATH 104 and 114 or 115. Prerequisites cannot be taken concurrently.

Traditionally, economics focuses on the study of existing markets.  Recently, regulators, entrepreneurs, and economists have been involved in the design of markets.  They have created institutionalized markets for new products, and have redesigned existing markets that were dysfunctional.  This course utilizes ideas from game theory and microeconomics to provide the theoretical underpinnings for design and analysis of such markets.  Further, via real world examples, we study the practical aspects of such market design and the institutional details which can determine the success or failure of a design.

Prerequisites: ECON 101 and 103, MATH 104 and either 114 or 115.