Winter '99 Course Guide

Courses in Economics (Division 358)

Winter Term, 1999 (January 6-April 29, 1999)

Take me to the Winter Term '99 Time Schedule for Economics.


Override Procedures for Economics courses

Override Procedures for Economics 101 and 102: Please contact Jeannie Tramontin for details in the Undergraduate Economics Office (158 Lorch Hall, 763-9242). Office hours for Winter Term will be Monday-Friday 8:00-12:30 and 1-4:30. Jeannie Tramontin will be available to answer questions about the Economics concentration requirements, college or department policies and procedures, and general university information. Students can schedule advising appointments by calling or stopping by the office.

Override procedures for 300- and 400-level courses will be handled by the faculty member in charge.


Econ. 101. Principles of Economics I.

Introductory Courses

Section 100, 200 Midterm exams: Thurs, Feb. 11 and Mar. 11, 6:30-8pm

Instructor(s): Janet Gerson (jgerson@umich.edu)

Prerequisites & Distribution: No credit granted to those who have completed or are enrolled in 400. (4). (SS). (QR/2).

Half QR

Credits: (4; 3 in the half-term).

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ101_100_200/

Economics 101 examines the microeconomics of capitalism the behavior of households and businesses and the generation of prices and outputs in markets. Specific topics in Economics 101 include: supply and demand; the differences between competition and monopoly; labor markets and discrimination; the distribution of incomes and poverty; environmental problems and policies; and government taxation and expenditure issues. Economics 101 is the first part of the two-term introduction to economics the second part (Economics 102, for which Economics 101 is a prerequisite) examines macroeconomics. Prerequisites for 101: high school algebra and geometry and a willingness to use them. The course format consists of large lectures taught by the professor and one small one-and-a-half-hour section meeting per week taught by a graduate student instructor.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1


Econ. 101. Principles of Economics I.

Introductory Courses

Instructor(s): Tom Bogart

Prerequisites & Distribution: No credit granted to those who have completed or are enrolled in 400. (4). (SS). (QR/2).

Half QR

Credits: (4; 3 in the half-term).

Course Homepage: No Homepage Submitted.

Economics 101 examines the microeconomics of capitalism the behavior of households and businesses and the generation of prices and outputs in markets. Specific topics in Economics 101 include: supply and demand; the differences between competition and monopoly; labor markets and discrimination; the distribution of incomes and poverty; environmental problems and policies; and government taxation and expenditure issues. Economics 101 is the first part of the two-term introduction to economics the second part (Economics 102, for which Economics 101 is a prerequisite) examines macroeconomics. Prerequisites for 101: high school algebra and geometry and a willingness to use them. The course format consists of large lectures taught by the professor and one small one-and-a-half-hour section meeting per week taught by a graduate student instructor.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1


Econ. 101. Principles of Economics I.

Introductory Courses

Instructor(s): Paula Malone

Prerequisites & Distribution: No credit granted to those who have completed or are enrolled in 400. (4). (SS). (QR/2).

Half QR

Credits: (4; 3 in the half-term).

Course Homepage: http://www.lib.umich.edu/libhome/Reserves/W99/EC101Mal/index.html

Economics 101 examines the microeconomics of capitalism the behavior of households and businesses and the generation of prices and outputs in markets. Specific topics in Economics 101 include: supply and demand; the differences between competition and monopoly; labor markets and discrimination; the distribution of incomes and poverty; environmental problems and policies; and government taxation and expenditure issues. Economics 101 is the first part of the two-term introduction to economics the second part (Economics 102, for which Economics 101 is a prerequisite) examines macroeconomics. Prerequisites for 101: high school algebra and geometry and a willingness to use them. The course format consists of large lectures taught by the professor and one small one-and-a-half-hour section meeting per week taught by a graduate student instructor.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1


Econ. 101. Principles of Economics I.

Introductory Courses

Instructor(s):

Prerequisites & Distribution: No credit granted to those who have completed or are enrolled in 400. (4). (SS). (QR/2).

Half QR

Credits: (4; 3 in the half-term).

Course Homepage: No Homepage Submitted.

Economics 101 examines the microeconomics of capitalism the behavior of households and businesses and the generation of prices and outputs in markets. Specific topics in Economics 101 include: supply and demand; the differences between competition and monopoly; labor markets and discrimination; the distribution of incomes and poverty; environmental problems and policies; and government taxation and expenditure issues.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1


Econ. 102. Principles of Economics II.

Introductory Courses

Instructor(s): Saul Hymans

Prerequisites & Distribution: Econ. 101. No credit granted to those who have completed or are enrolled in Econ. 400. (4). (SS). (QR/2).

Half QR

Credits: (4; 3 in the half-term).

Course Homepage: No Homepage Submitted.

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 GDP, unemployment, inflation, international trade, and economic growth. The course format consists of three hours of lecture per week (either 100) by the professor and a one and a half hour section meetings (101-111) led each week by a graduate student instructor. The section meetings are limited to 35 students.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1, 5: Contact Undergraduate Office, Dept. of Economics, 158 Lorch Hall


Econ. 102. Principles of Economics II.

Introductory Courses

Instructor(s): Alan Deardorff (alandear@umich.edu)

Prerequisites & Distribution: Econ. 101. No credit granted to those who have completed or are enrolled in Econ. 400. (4). (SS). (QR/2).

Half QR

Credits: (4; 3 in the half-term).

Course Homepage: http://www.econ.lsa.umich.edu/~alandear/courses/102/102.html

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 GDP, unemployment, inflation, international trade, and economic growth. The course format consists of three hours of lecture per week (200) by the professor and a one and a half hour section meeting (201-212) led each week by a graduate student instructor. The section meetings are limited to 35 students.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1, 5: Contact Undergraduate Office, Dept. of Economics, 158 Lorch Hall


Econ. 109. Laboratory Economics.

Introductory Courses

Instructor(s): Yan Chen (yanchen@umich.edu)

Prerequisites & Distribution: (4). (SS). (QR/1).

Full QR

Credits: (4).

Course Homepage: http://www.econ.lsa.umich.edu/~yanchen/econ109/econ109-99.html

This course, for students without any previous economics, will introduce them to the subject through experience in a laboratory. By participating in laboratory experiments, then analyzing the results in class discussion and written reports, they will learn the principles of economics from their own empirical observation. By participating in laboratory experiments involving auctions, markets elections, and economic games, students will observe economic behavior in a controlled setting. Interpreting these experiences in the light of assigned readings and in class discussions, they will come to understand the principles of economics not being told but by seeing them for themselves. There will be a lab fee of $30 for the in-class experiments, which will be redistributed as prizes over the term.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1


Econ. 320. Survey of Labor Economics.

Labor Economics

Instructor(s): Kerwin Charles (kcharles@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102. (3). (SS).

Credits: (3).

Course Homepage: No Homepage Submitted.

This course surveys the demand and supply of labor, investment in human capital, market structure and the efficiency of labor markets, discrimination, collective bargaining, the distribution of income, and unemployment.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1


Econ. 320. Survey of Labor Economics.

Labor Economics

Instructor(s): Johnson

Prerequisites & Distribution: Econ. 101 and 102. (3). (SS).

Credits: (3).

Course Homepage: No Homepage Submitted.

This course surveys the demand and supply of labor, investment in human capital, market structure and the efficiency of labor markets, discrimination, collective bargaining, the distribution of income, and unemployment.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1


Econ. 370/NR&E 375. Natural Resource Economics.

Environmental Economics

Instructor(s): Gloria Helfand

Prerequisites & Distribution: Econ. 101 and 102. No credit granted to those who have completed or are enrolled in Econ. 471 or 472. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

A one-semester introduction to Environmental and Natural Resource Economics. Topics include externalities, unpriced goods, cost-benefit analysis, resource scarcity, exhaustible resource depletion, renewable resource harvesting and common property problems.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.


Econ. 395. Topics in Economics and Economic Policy.

Other Topics in Economics

Section 001 Economics of Crime. (3 credits). Prerequisite: Microeconomic Principles

Instructor(s): Paula Malone

Prerequisites & Distribution: Econ. 101 and 102. (1-3). (Excl). May be repeated for a total of six credits.

Upper-Level Writing

Credits: (1-3).

Course Homepage: http://www-personal.umich.edu/~mschrist/crime99.html

Study of crime and criminal behavior as rational economic choices; costs of crime to the community; optimal resource allocation within the criminal justice system; monopolized markets and organized crime.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1


Econ. 395. Topics in Economics and Economic Policy.

Other Topics in Economics

Section 002 Economics and Gender. (3 credits)

Instructor(s): Paula Malone

Prerequisites & Distribution: Econ. 101 and 102. (1-3). (Excl). May be repeated for a total of six credits.

Upper-Level Writing

Credits: (1-3).

Course Homepage: No Homepage Submitted.

A study of household labor division, human capital investment, labor market outcomes, and income distribution differences on a gender basis. The impact of both economic and demographic experience is considered. Attention is given to both domestic and international gender-based differences.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1


Econ. 398. Strategy.

Other Topics in Economics

Section 001 Strategy and Equity

Instructor(s): Eswaran Somanathan

Prerequisites & Distribution: Econ. 101. (3). (SS).

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/~wojtek/398/.

This course is an introduction to the science of strategic thinking and the art of equity. Basics of non-cooperative as well as cooperative game theory will be covered via simple cases in business, international crises, mass elections, legislative voting, cost sharing, college admissions, housing lotteries, kidney allocation, etc.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1


Econ. 401. Intermediate Microeconomic Theory.

Economic Theory and Statistics

Instructor(s): Carl Simon (cpsimon@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102, and Math. 115. (4). (SS). (QR/1).

Full QR

Credits: (4).

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ401_W99/

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. Discussion sections will meet twice a week.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1


Econ. 402. Intermediate Macroeconomic Theory.

Economic Theory and Statistics

Instructor(s): Susanto Basu

Prerequisites & Distribution: Econ. 101 and 102, and Math. 115. (3). (SS). (QR/1).

Full QR

Credits: (3).

Course Homepage: No Homepage Submitted.

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), written exercises, and final exam. 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.

Check Times, Location, and Availability Cost: 3 Waitlist Code: 1


Econ. 404. Statistics for Economists.

Economic Theory and Statistics

Instructor(s): E. Philip Howrey (eph@umich.edu)

Prerequisites & Distribution: Econ. 101 and 102 and Math. 115. No credit granted to those who have completed or are enrolled in Econ. 405 or Stat. 265, 311, 402, 405, or 412. (4). (Excl). (BS). (QR/1).

Full QR

Credits: (4).

Course Homepage: http://www-personal.umich.edu/~eph/

This course provides an introduction to descriptive statistics, probability theory, statistical inference, and regression analysis. There are two lectures and one problem session per week. Grades are based on problem sets and exams. The course, which is self-contained, does not serve as a prerequisite to Economics 406.

Check Times, Location, and Availability Cost: 1 Waitlist Code: 1


Econ. 405/Stat. 405. Introduction to Statistics.

Economic Theory and Statistics

Instructor(s): D Bingham

Prerequisites & Distribution: Math. 116 or 118. Juniors and seniors may elect this course concurrently with Econ. 101 or 102. No credit granted to those who have completed or are enrolled in Stat. 265, 311, or 412. Students with credit for Econ. 404 can only elect Econ. 405 for 2 credits and must have permission of instructor. (4). (MSA). (BS). (QR/1).

Full QR

Credits: (4).

Course Homepage: No Homepage Submitted.

See Statistics 405.001.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 3


Econ. 406. Introduction to Econometrics.

Economic Theory and Statistics

Instructor(s): Gary Solon (gsolon@umich.edu)

Prerequisites & Distribution: Econ. 405 or Statistics 426. (4). (Excl). (BS).

Credits: (4).

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ_406/

Econometrics consists of statistical methods commonly used in empirical economic research. With the basics of statistics and probability covered in Economics 405, Economics 406 proceeds to an in-depth treatment of the theory and practice of multiple regression analysis. The course begins with the multiple regression model under ideal conditions and then goes on to detailed consideration of departures from the ideal conditions as well as a brief introduction to nonlinear regression models. The 405-406 sequence covers econometrics in greater depth and breadth than Economics 404. Students electing Economics 406 should have completed Math 116, Economics 101-102, and either Economics 405 or Statistics 426. Grade will be based on exams and homework exercises.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1


Econ. 409. Game Theory.

Economic Theory and Statistics

Instructor(s): Ennio Stacchetti

Prerequisites & Distribution: Math. 217. (3). (Excl). (BS).

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/classes/Econ409/

This course will consist of an introduction to the subject of game theory. Game theory has become an important technique for studying competitive and cooperative phenomena in economics and the social sciences. Traditional economics emphasizes the two extremes of economic decision-making: perfect competition, in which no firm can affect market prices, and pure monopoly, in which one firm has complete price-setting power. Game theory is a technique which allows intermediate situations to be analyzed: for example, those that arise during wage negotiations or in price wars between two large firms. The same principles that govern the strategic interaction of players in parlor games like Chess or Poker turn out to be widely applicable to a whole range of such phenomena in economics, biology, and political science. The current course will explore the beginnings of the subject using simple illustrative examples. Some calculus and matrix algebra will be needed, but the mathematical requirement is more for some sophistication in methods of argumentation rather than for specific techniques.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.


Econ. 411. Monetary and Financial Theory.

Monetary and Financial Economics

Instructor(s): Miles Kimball

Prerequisites & Distribution: Econ. 402, and 404 or 405. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

Economics 411 focuses on why physical and financial investment matter for the economy, how wealth is determined by consumption and saving decisions, and how households determine what fraction of their wealth to put into money, Treasury bills, stocks and bonds. Monetary and financial economics are developed at a formal level. Economics 411 takes a Main Street view of financial and monetary theory, NOT a Wall Street view, and a Macroeconomic view, rather than a Microeconomic view.

Evaluation will be based on homework assignments, two midterms, and the final exam. The method of instruction is lecture and discussion. The required prerequisite is Econ 402, Intermediate Macroeconomics. An additional recommended prerequisite is Econ 401, Intermediate Microeconomics. The course begins with a review of statistics, since statistics will be used extensively in the course. Some calculus and a substantial amount of algebra will be used.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1


Econ. 412. Topics in Macroeconomics.

Monetary and Financial Economics

Instructor(s): Janet Wolfe (janwolfe@umich.edu)

Prerequisites & Distribution: Econ. 402. (3). (Excl).

Credits: (3).

Course Homepage: http://www-personal.umich.edu/~janwolfe/econ412/

Economics 412 is an advanced undergraduate course in applied monetary theory and macroeconomics. Our focus this term will be on developing and using macroeconomic models for policy analysis and forecasting. We will review and extend models introduced in intermediate macroeconomics (Econ 402) and then apply these models to questions concerning economic growth, inflation, unemployment, real wages, business cycles, stabilization policy, the banking system, and financial markets. We will study econometric modeling of the macro economy, including model specification, data issues, model estimation and evaluation, policy simulation experiments, and preparing, generating, and adjusting forecasts. Students will participate in small group or individual projects where they will have computer experience with modeling and forecasting using the Michigan Quarterly Econometric Model of the U.S. Economy. In addition to the official prerequisite (Econ 402), students should take intermediate microeconomics (Econ 401) and statistics (any of Econ 404, Econ 405, Stat 402, or Stat 425-426) before taking this course. There will be a course pack of readings and notes. Problem sets, including computer exercises and simulations, will be assigned and collected one to three times per month. There will be one or two midterms and a final.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.


Econ. 430. Business Abroad.

Instructor(s): Jim Adams

Prerequisites & Distribution: Econ. 401. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

Market structure, conduct, and performance when firms compete on a global basis. Emphasis is placed on identification of traits of national economic culture and policy that shape the behavior and performance of large-scale business enterprises. Many classes will be conducted in discussion format. Grades will be based on one midterm, a final, and a term paper.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1


Econ. 432. Government Regulation of Industry.

Industrial Organization and Public Control

Instructor(s): Jim Adams

Prerequisites & Distribution: Econ. 401. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

This course describes and analyzes the efforts of governments to control the market power of business enterprises. Topics include dominant position, oligopolistic cooperation, vertical restraint, and merger. Emphasis is placed on American policies, especially antitrust law and regulation by administrative commission. Economics 431 is not required. Students should be prepared to participate frequently in class discussions.

Check Times, Location, and Availability Cost: 2 Waitlist Code: 1


Econ. 442. International Finance.

International Economics

Instructor(s): Linda Tesar (ltesar@umich.edu)

Prerequisites & Distribution: Econ. 402. (3). (Excl).

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/~ltesar/classes/econ442/crspage.html

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.

Check Times, Location, and Availability Cost: 3 Waitlist Code: 1


Econ. 454. Economics of Japan.

Comparative Economic Systems and National Economies

Instructor(s): Gary Saxonhouse

Prerequisites & Distribution: Econ. 101 and 102. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

Analysis of Japan's economic organization, structure, and performance. Special emphasis is placed on the character of Japanese economic planning, the behavior of Japanese enterprises, the Japanese labor force, and the Japanese household. There will also be ample discussion of Japan's international economic relations. Attention will be given to bilateral and multilateral conflicts in overseas product, financial, and technology markets. The class has a lecture format, but questions are welcomed. Course grade will be determined by two one-hour exams and a final.

Check Times, Location, and Availability Cost: 4 Waitlist Code: 1


Econ. 455. The Economy of the People's Republic of China.

Comparative Economic Systems and National Economies

Section 001 Economic Development in China

Instructor(s): Albert Park

Prerequisites & Distribution: Econ. 101 and 102. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

This course will examine the process of economic development through the experiences of mainland China and Taiwan. Emphasis is on economic reforms in mainland China since 1978, including agricultural reforms, rural industrialization, reform of state-owned enterprises, international trade and foreign investment, fiscal and financial reforms, and regional inequality and poverty. Other topics: record of socialist planning in China; pace and sequence of reform in socialist economies; Taiwan's structural transformation; implications of Hong Kong's return to the P.R.C. in 1997.

Check Times, Location, and Availability Cost: 1 Waitlist Code: 1


Econ. 462. The Economics of Development II.

Economic Development

Instructor(s): Rohini Somanathan

Prerequisites & Distribution: Econ. 401, and 360 or 461. (3). (Excl).

Credits: (3).

Course Homepage: No Homepage Submitted.

This course is an introduction to questions related to the economic development of countries. The term "economic development" is very broad and we will consider a number of aspects of such development. We will examine the factors that account for differences in per capita income across countries, the characteristics of traditional societies that are conducive to growth and modernization and the relationship between growth, income distribution and other indices of development such as health and education. We will also ask how property rights and institutions influence technological change in different sectors of the economy and at how social norms and networks in traditional societies can help resolve contractual problems associated with development.

The course will focus on developing appropriate conceptual models to deal with the above issues. Basic empirical facts studies of developing countries will be presented to motivate and critically evaluate different theoretical frameworks. Intermediate microeconomics is the only prerequisite.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.


Econ. 481. Government Expenditures.

Public Finance

Instructor(s): Julie Cullen (jbcullen@umich.edu)

Prerequisites & Distribution: Econ. 401. No credit granted to those who have completed or are enrolled in 380. (3). (Excl).

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/jbcullen/econ481/econ481.html

Economics 481 studies the role of government in the economy. Topics covered include public goods, collective choice, externalities, income redistribution, and social insurance. In considering these topics, emphasis will be placed on both theoretical issues and applications to current policy. The class format will combine lecture and discussion. Students will be evaluated based on performance on problem sets and exams. A solid grounding in microeconomics and practice with mathematical optimization will make the course more accessible.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1


Econ. 483/Poli. Sci. 482. Positive Political Economy.

Other Topics in Economics

Instructor(s): Yan Chen (yanchen@umich.edu)

Prerequisites & Distribution: Econ. 401. (3). (Excl).

Credits: (3).

Course Homepage: http://www.econ.lsa.umich.edu/~yanchen/econ483/econ483.html

This course is an introduction to game theory and its application in political science. Fundamental solution concepts in game theory are first introduced by classroom experiments, then by rigorous mathematical analysis. Voting, legislative rules, bargaining and other political processes will be modeled and analysed using game theory.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: 1


Econ. 495. Seminar in Economics.

Honors Program, Seminars, and Independent Research

Section 001 Applied Microeconomic Modeling

Instructor(s): Stephen Salant (ssalant@umich.edu)

Prerequisites & Distribution: Econ. 401, 402, and 404 or 405; and permission of instructor. (3). (Excl). May be repeated for a total of six credits.

Upper-Level Writing

Credits: (3).

Course Homepage: No Homepage Submitted.

This seminar illustrates how elementary microeconomic tools can be used to illuminate observed real-world phenomena and to evaluate alternative policy interventions. Three-person teams investigate in depth a single local, national, or international topic. The list of topics for the current year is presented at the first meeting. In addition to mainstream economics topics, students have crossed disciplinary boundaries modeling biological problems using the tools of microeconomics. Three recent papers have been published in journals or working paper series, and one was translated into Spanish and used to brief the President of Argentina's Central Bank. Emphasis will be on the accurate understanding of real-world institutional details and the art of isolating salient aspects of problems in a formal but tractable model. Papers and oral presentations will be required. Economics 401 is a prerequisite. Only students with a strong performance in 401 are admitted.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.


Econ. 495. Seminar in Economics.

Honors Program, Seminars, and Independent Research

Section 002 The United States Macroeconomy, 1970-1994

Instructor(s): Robert Barsky

Prerequisites & Distribution: Econ. 401, 402, and 404 or 405; and permission of instructor. (3). (Excl). May be repeated for a total of six credits.

Upper-Level Writing

Credits: (3).

Course Homepage: No Homepage Submitted.

This seminar will involve an intensive consideration of the major economic problems of the U.S. economy that emerged in the 1970's and 1980's, and will culminate in quantitative research projects. Class members will work in groups of two or three on topics chosen from a list suggested by the instructor at the beginning of the term. One of the end goals will be empirical papers which might eventually be eligible for publication in professional journals. The course is not a survey of the economic history of the period, but rather will concentrate on some of the dominant themes in economic policy during this period. Among the topics that we may emphasize are: inflation and disinflation; labor market changes and the evolution of the natural rate of unemployment; changes in real interest rates, stock prices, and other asset prices; the experience with flexible exchange rates; fiscal and current account deficits; the conduct of monetary policy; issues of productivity growth; and changes in the distribution of income and wealth. Data for the research projects need not be limited to the U.S. in this limited time period. Comparative studies of other time periods, and possibly other countries, that address the conceptual problems discussed in the course are encouraged. Only quantitative projects will be accepted. Students should have taken Econ 405 or a comparable statistics course, and at least be concurrently enrolled in Econ 406 or a comparable econometrics course.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.


Econ. 498. Honors Independent Research.

Honors Program, Seminars, and Independent Research

Instructor(s):

Prerequisites & Distribution: Open only to students admitted to Honors concentration in economics. (1-4). (Excl). (INDEPENDENT). May be repeated for a total of eight credits.

Credits: (1-4).

Course Homepage: No Homepage Submitted.

This course is for undergraduates writing senior Honors theses. Each student's grade for the course and levels of Honors achieved will depend entirely on the quality of the thesis, as evaluated by the thesis advisor with whom the student has arranged to work.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.


Econ. 499. Independent Research.

Honors Program, Seminars, and Independent Research

Instructor(s):

Prerequisites & Distribution: Written permission of staff member supervising research, and permission of the economics concentration advisor. (1-4). (Excl). No more than four credits may be used in an economics concentration program. (INDEPENDENT). May be repeated for a total of eight credits.

Credits: (1-4).

Course Homepage: No Homepage Submitted.

Student and instructor agree on a substantial piece of work involving reading or research. Evaluation is based on the written work, either papers or examinations.

Check Times, Location, and Availability Cost: No Data Given. Waitlist Code: No Data Given.


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