101(201). Principles of Economics I. No credit granted to those who have completed or are enrolled in 400. (3). (SS). (QR/2).
Economics 101 concentrates on the microeconomics of the modern economy: how markets function under competitive conditions as well as with various other types of market organization; the distribution of income and wealth; the public sector; socialism; and related topics of current interest. Grades are based largely on course-wide hour tests and the final exam, but there will also be quizzes in the sections. Economics 101 is the first part of the two-term introduction to economics. Both 101 and 102 are required as prerequisites to the concentration in economics and to upper-level courses in economics. (Morgan)
441. International Trade Theory. Econ. 401 or the equivalent. (3). (Excl).
This course deals with the theory of international trade. It explores the important theories that explain what countries trade and why they gain from trade. These theories include the theory of comparative advantage, and the factor-proportions theory of trade, as well as more recent theoretical developments. The second part of the course deals with barriers to free trade and trade policies. Various policies will be analyzed, such as the tariff, quota, voluntary export restraints, subsidies, and other international protective taxes. The third part includes various topics such as preferential trading arrangements, economic integration, and international factor movements. Cost:1-2 WL:1 (Shy)
442. International Finance. Econ. 402 or the equivalent. (3). (Excl).
This course analyzes the macroeconomic and financial interactions between countries. The international component of income and output determination theories of the balance of payments, exchange rate determination, international asset markets and banking, and developing country issues are covered. There are graded homeworks, one midterm, and a final exam. WL:1 Cost:5 (Bernasek)
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