Courses in Economics (Division 358)


Spring 1997

A. Introductory Courses

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 is the first part of the two-term introduction to economics. Both 101 and 102 are required as prerequisites to the concentration and to upper level courses in economics. 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.

102(202). Principles of Economics II. Econ. 101. No credit granted to those who have completed or are enrolled in Econ. 400. (3). (SS). (QR/2).

Economics 101 and 102 are required as prerequisites to the concentration and to upper-level courses in Economics. In Economics 102, the fundamental concepts and theories of macroeconomics are developed and used to analyze problems of current interest. The major concerns of this course are the determinants of GNP, unemployment, inflation, international trade, and economic growth. The section meetings are limited to 35 students.

B. Economic Theory and Statistics

401. Intermediate Microeconomic Theory. Econ. 101 and 102, and Math. 115. (4). (SS). (QR/1).

This course deals with the theoretical analysis of consumers, firms, markets, and price determination. The analysis is rigorous, using the tools of algebra, geometry, and elementary calculus in constructing models. Prerequisites include one term of calculus. Economics 401 is a prerequisite for many other courses offered in Economics. Concentrators in economics are required to elect this course and are encouraged to complete it early in their concentration program. It is not recommended that 401 and 402 be taken in the same term. Main lecture will meet twice a week. Sections will meet twice a week. WL:1 (Gerson)

402. Intermediate Macroeconomic Theory. Econ. 101 and 102, and Math. 115. (3). (SS). (QR/1).

This course in macroeconomics deals with the determination of broad economic aggregates such as national income, employment, the price level, and the balance of payments in both the short run and the long run. Rigorous analysis is used to understand the forces that determine these economic variables, and how they are affected by public policies. It is predominantly a lecture course, with grades based on hour test(s) and final exam. Prerequisites include one term of calculus. Economics 402 is a prerequisite for many other courses offered in Economics. Concentrators in economics are required to elect this course and are encouraged to complete it early in their concentration program. It is strongly recommended that students take Economics 401 before 402. Cost:3 WL:3 (Johnson)

404. Statistics for Economists. Econ. 101 and 102 and Math. 115. No credit granted to those who have completed or are enrolled in Econ. 405 or Stat. 311, 402, or 412. (4). (Excl). (BS). (QR/1).

This course is designed to enable students to read critically empirical literature in economics and other social sciences. Topics covered include descriptive statistics, elementary probability theory, statistical inference, and regression theory. Data analysis and interpretation of quantitative results will be emphasized. There are three lectures and one problem session per week. Grades are based on problem sets and exams. The course is self-contained and does not serve as a prerequisite to Economics 406. Cost:2-3 WL:1 (Howrey)

E. Industrial Organization and Public Control

431. Industrial Organization and Performance. Econ. 401. No credit granted to those who have completed or are enrolled in 330. (3). (Excl).

An analysis of the behavior and social performance of firms. Emphasis is placed on understanding how firms compete with one another. Topics include oligopoly theory, differentiated products, entry deterrence, collusion, advertising, research and development, price discrimination and strategic rivalry using game theory. Cost:3 WL:1 (Zhou)

J. Public Finance

380. Public Finance. Econ. 101 and 102. No credit granted to those who have completed or are enrolled in 481 or 482. (3). (Excl).

This course offers a general introductory survey of the field of public finance. The topics covered include: (1) market failures; (2) major federal expenditure programs (focusing on the welfare system); (3) program and project evaluation; and (4) major Federal, State, and Local taxes and their effects. A lecture/discussion format is used. (Swann)

L. Other Topics in Economics

395. Topics in Economics and Economic Policy. Econ. 101 and 102. (1-3). (Excl). May be repeated for a total of 6 credits.
Section 101 Economics, Life and Philosophy.
Technology, preferences, and strategic interactions determine economic outcomes. But technology and preferences are themselves determined by economic and historical forces. Economics 395, "Economics, Life and Philosophy" explores the determination of technology by the history of invention and the determination of preferences by Darwinian selection of human bodies and human ideas, as well as the basic nature of strategic interactions and aggregation. In addition to at least two exams, the course has a number of short papers and extensive reading. Dennett's book Darwin's Dangerous Idea will be studied thoroughly, along with a number of other books, including Mokyr's The Lever of Riches, Dawkin's The Selfish Gene, Lynch's Thought Contagion and Dixit and Nalebuff's Thinking Strategically. (Kimball)


Summer 1997

A. Introductory Courses

101(201). Principles of Economics I. No credit granted to those who have completed or are enrolled in 400. (3). (SS). (QR/2).

See Economics 101 (Spring Term).

102(202). Principles of Economics II. Econ. 101. No credit granted to those who have completed or are enrolled in Econ. 400. (3). (SS). (QR/2).

See Economics 102 (Spring Term).

F. International Economics

442. International Finance. Econ. 402 or the equivalent. (3). (Excl).

This course analyzes the macroeconomic and financial interactions between countries. Theories of the balance of payments, the exchange rate, and the international component of income determination are developed. Examples of fixed and flexible exchange-rate regimes are covered, including the gold standard, Bretton Woods, and the EMS. There are graded homeworks, one midterm, and a final exam. Cost:3 WL:1 (Bernasek)

H. Economic Development

360. The Developing Economies. Econ. 101 and 102. No credit granted to those who have completed or are enrolled in 461. (3). (Excl).

Most people live in "less developed countries" with much lower average incomes than the United States and other "developed countries" and this inequality continues to increase in severity. This course explores alternative conceptions of economic development, investigates proposed explanations for international variations, and critically examines competing strategies for alleviating global poverty and enlarging opportunities for human flourishing, especially for those worst off. A further focus is potential implications of global development in the more developed countries. The main text for the course is Economic Development by Michael P. Todaro (1997). Written work for the course consists of a midterm examination, a 10-15 page term paper on a mutually agreeable topic, and a final examination. Discussion in class is strongly encouraged. (Thompson)


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