Department of History

The fundamentals of microeconomic and macroeconomic theory, with applications; preparation for subsequent economics courses.

BUILDING: HUTCH | ROOM: 141

PREREQUISITES: ECO 108 is preparation for subsequent economics courses. Completion of (or concurrent enrollment in)a course in calculus is recommended. ECO 108 cannot be taken after taking ECO 207.

The economics of consumer choice and the demand for goods; producer choice, including the supply of goods and the demand for labor and other inputs; the effects of competition and monopoly power on prices and production.

BUILDING: MEL | ROOM: 203

PREREQUISITES: ECO 108 or equivalent

The economics of consumer choice and the demand for goods; producer choice, including the supply of goods and the demand for labor and other inputs; the effects of competition and monopoly power on prices and production.

BUILDING: HUTCH | ROOM: 140

PREREQUISITES: ECO 108 or equivalent

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BUILDING: B&L | ROOM: 269

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BUILDING: B&L | ROOM: 270

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BUILDING: MEL | ROOM: 218

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BUILDING: HARK | ROOM: 210

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BUILDING: HARK | ROOM: 210

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BUILDING: HARK | ROOM: 210

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BUILDING: MEL | ROOM: 219

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BUILDING: HUTCH | ROOM: 138

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BUILDING: HUTCH | ROOM: 138

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BUILDING: B&L | ROOM: 269

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BUILDING: MEL | ROOM: 218

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BUILDING: LCHAS | ROOM: 103

This course shows how the choices of consumers and firms interact through markets to determine all the factors related to economic well being. In comparison to other sections of ECO 207, this section develops these choices more formally and mathematically.

BUILDING: DEWEY | ROOM: 2110E

PREREQUISITES: Strong performance in ECO 108, completion of MTH 161, MTH 171, or completion of MTH 141 and 142

This course is a sequel to ECO 207. It covers a variety of topics in microeconomics. The precise content varies, but usually includes a more detailed look at alternative normative criteria, applied game theory, auction theory, the problem of social cost, and a little voting theory.

BUILDING: DEWEY | ROOM: 2110D

PREREQUISITES: ECO 207 and Calculus

National income accounting concepts; their changes and fluctuations as explained by theories of income determination.

BUILDING: MEL | ROOM: 203

PREREQUISITES: ECO 207 required, Calculus very strongly recommended

National income accounting concepts; their changes and fluctuations as explained by theories of income determination.

BUILDING: HARK | ROOM: 115

PREREQUISITES: ECO 207 required, Calculus very strongly recommended

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BUILDING: MOREY | ROOM: 504

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BUILDING: HYLAN | ROOM: 201

This course is about financial markets, banks, and monetary policy. We will study their institutions and empirics, and describe the theory of how they work and affect the overall economy. The theory will utilize models of pricing of financial assets, incentive problems, and aggregate supply/demand. We will pay considerable attention to ongoing current developments in financial markets, monetary policy, and the macro-economy.

BUILDING: MEL | ROOM: 221

PREREQUISITES: ECO 207 and ECO 209 (or permission of instructor)

This course is about financial markets, banks, and monetary policy. We will study their institutions and empirics, and describe the theory of how they work and affect the overall economy. The theory will utilize models of pricing of financial assets, incentive problems, and aggregate supply/demand. We will pay considerable attention to ongoing current developments in financial markets, monetary policy, and the macro-economy.

BUILDING: MEL | ROOM: 221

PREREQUISITES: ECO 207 and ECO 209 (or permission of instructor)

The course combines basic economic concepts with agency theory and the concept of specific knowledge to develop a framework for addressing and solving important organizational problems. Key elements include: the assignment of the performance-evaluation system and the compensation/incentive system. Each of these elements is analyzed in detail. The framework is applied to analyze a variety of contemporary managerial topics such as total quality management, business-process reengineering, outsourcing, transfer pricing, leadership and business ethics.

BUILDING: GRGEN | ROOM: 108

PREREQUISITES: ACC201; and MKT203 or FIN204/FIN205

The course combines basic economic concepts with agency theory and the concept of specific knowledge to develop a framework for addressing and solving important organizational problems. Key elements include: the assignment of the performance-evaluation system and the compensation/incentive system. Each of these elements is analyzed in detail. The framework is applied to analyze a variety of contemporary managerial topics such as total quality management, business-process reengineering, outsourcing, transfer pricing, leadership and business ethics.

BUILDING: GRGEN | ROOM: 109

PREREQUISITES: ACC201; and MKT203 or FIN204/FIN205

The course combines basic economic concepts with agency theory and the concept of specific knowledge to develop a framework for addressing and solving important organizational problems. Key elements include: the assignment of the performance-evaluation system and the compensation/incentive system. Each of these elements is analyzed in detail. The framework is applied to analyze a variety of contemporary managerial topics such as total quality management, business-process reengineering, outsourcing, transfer pricing, leadership and business ethics.

BUILDING: GRGEN | ROOM: 109

PREREQUISITES: ACC201; and MKT203 or FIN204/FIN205

The course combines basic economic concepts with agency theory and the concept of specific knowledge to develop a framework for addressing and solving important organizational problems. Key elements include: the assignment of the performance-evaluation system and the compensation/incentive system. Each of these elements is analyzed in detail. The framework is applied to analyze a variety of contemporary managerial topics such as total quality management, business-process reengineering, outsourcing, transfer pricing, leadership and business ethics.

BUILDING: GRGEN | ROOM: 108

PREREQUISITES: ACC201; and MKT203 or FIN204/FIN205

The 2010 Brazilian national census shows 97.2 million Afro-Brazilians and 90.6 million Whites. These two ethnic nationalities have developed unequally since the establishment of colonial Brazil by Portugal in the sixteenth century. The 2010 census shows the average income of Afro-Brazilians was less than half that of White Brazilians. In 2009, the wealth gap between White and Black American families was $236,500. The most populous African nation, Nigeria, shows similar inequality among its major ethnic nationalities. This magnitude of inequality among ethnic nationalities has given rise to serious problems in inter-group relations in the three countries. This course aims to trace, comparatively, the historical origins of the phenomenon, examine the political and economic consequences, and discuss the politics and economics of state policy designed to address it. *NOTE: Students taking this Course for ECO credit must have previously taken ECO 108*

BUILDING: HYLAN | ROOM: 203

The course is an introduction to the mathematical modeling of problems of fairness in resource allocation. Among the types of problems we will seek to analyze are: - How should the Red Cross distribute supplies among refugees in a refugee camp. - How should housemates split the rent when the rooms in the house they share have different features that each housemate values differently. - How should students in a dance class be organized in male-female pairs when each male student has preferences over female partners and each female student has preferences over male partners? - When a firm goes bankrupt, how should it liquidation value be divided among its creditors?

BUILDING: MEL | ROOM: 224

PREREQUISITES: Calculus and ECO 108

Should we expect American League batters to be beaned by more pitches than their National League counterparts? Are investments in sports stadiums good for economic development? How prevalent is discrimination in sports and can it be measured? Should college athletes be paid? Is there any justification for professional sports leagues’ exemption from anti-trust statutes? What do players’ unions do? What does and does not promote competitive balance in college football and the major sports? What can golf teach us about the Executive Pay crisis? Should gambling on sports be legal? Is there such a thing as the hot hand? Why do alcohol and sports(seem to)go together? Is the NFL on the decline? These and many other exciting questions related to sports, media and entertainment(though mostly sports)will be covered. Like its popular consideration as a metaphor for life, sports economics is a popular examination ground for more traditional theoretical economics in particular for topics in Labor Economics and Industry.

BUILDING: HARK | ROOM: 115

PREREQUISITES: ECO 108(require) ECO 207 (suggested)

Should we expect American League batters to be beaned by more pitches than their National League counterparts? Are investments in sports stadiums good for economic development? How prevalent is discrimination in sports and can it be measured? Should college athletes be paid? Is there any justification for professional sports leagues’ exemption from anti-trust statutes? What do players’ unions do? What does and does not promote competitive balance in college football and the major sports? What can golf teach us about the Executive Pay crisis? Should gambling on sports be legal? Is there such a thing as the hot hand? Why do alcohol and sports(seem to)go together? Is the NFL on the decline? These and many other exciting questions related to sports, media and entertainment(though mostly sports)will be covered. Like its popular consideration as a metaphor for life, sports economics is a popular examination ground for more traditional theoretical economics in particular for topics in Labor Economics and Industry.

BUILDING: HARK | ROOM: 115

PREREQUISITES: ECO 108(require) ECO 207 (suggested)

This course is an introduction to the probability and statistical theory underlying the estimation of parameters and testing of hypotheses in economics. Linear correlation and simple regression analysis are also introduced. Students will use computers to analyze economic data.

BUILDING: MEL | ROOM: 203

PREREQUISITES: Have taken or is taking MTH 141 or equivalent

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BUILDING: WILMT | ROOM: 116

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BUILDING: HYLAN | ROOM: 305

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BUILDING: HYLAN | ROOM: 202

The course is an introduction to the application of econometric methods. It covers the basic tools of estimation, inference and forecast of cross-section, time-series and panel data models.

BUILDING: HARK | ROOM: 115

PREREQUISITES: Eco 230, Math 203, or Stat 213

The course is an introduction to the application of econometric methods. It covers the basic tools of estimation, inference and forecast of cross-section, time-series and panel data models.

BUILDING: GAVET | ROOM: 206

PREREQUISITES: Eco 230, Math 203, or Stat 213

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BUILDING: HARK | ROOM: 114

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BUILDING: GAVET | ROOM: 244

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BUILDING: GAVET | ROOM: 244

The course is an introduction to the application of econometric methods. It covers the basic tools of estimation, inference and forecast of cross-section, time-series and panel data models. The course emphasizes the intuitive understanding and practical application of these basic tools of econometric analysis.

BUILDING: MEL | ROOM: 210

PREREQUISITES: ECO 231W

Analysis of factors that affect supply and demand in the market for medical care: risk, insurance, externalities, ethics, regulation.

BUILDING: GRGEN | ROOM: 109

PREREQUISITES: ECO 207

Analysis of factors that affect supply and demand in the market for medical care: risk, insurance, externalities, ethics, regulation.

BUILDING: GRGEN | ROOM: 109

PREREQUISITES: ECO 207

This course applied theoretical and empirical methods of economics to the analysis of elementary and secondary education in the United States. Topics include, but will not be limited to: education investment decisions of individuals and society; measuring the returns to education; the production of human capital with a focus on the role of school inputs' and evaluating recent k-12 education reforms (high-stakes testing, school choice,school finance) and higher education reforms (financial aid, affirmative action). Students will learn about the practical challenges of education research and how to distinguish good empirical research from bad. Assignments will include both solving theoretical problems and critiquing current research.

BUILDING: HARK | ROOM: 210

PREREQUISITES: ECO 207

This course applied theoretical and empirical methods of economics to the analysis of elementary and secondary education in the United States. Topics include, but will not be limited to: education investment decisions of individuals and society; measuring the returns to education; the production of human capital with a focus on the role of school inputs' and evaluating recent k-12 education reforms (high-stakes testing, school choice,school finance) and higher education reforms (financial aid, affirmative action). Students will learn about the practical challenges of education research and how to distinguish good empirical research from bad. Assignments will include both solving theoretical problems and critiquing current research.

BUILDING: HARK | ROOM: 210

PREREQUISITES: ECO 207

This course examines the determinants of market structure and market performance. Questions discussed are pricing, product and quality choice, collusion, mergers, vertical restrictions, antitrust policy and related welfare analysis. Additional topics (depending on time) that are covered are networks, auctions, advertisement, and research and development. The course puts a special emphasis on studying strategic situations and using the tools of game theory. We use examples from US and international markets to illustrate the main theoretical ideas.

BUILDING: GRGEN | ROOM: 108

PREREQUISITES: ECO 207

This course examines the determinants of market structure and market performance. Questions discussed are pricing, product and quality choice, collusion, mergers, vertical restrictions, antitrust policy and related welfare analysis. Additional topics (depending on time) that are covered are networks, auctions, advertisement, and research and development. The course puts a special emphasis on studying strategic situations and using the tools of game theory. We use examples from US and international markets to illustrate the main theoretical ideas.

BUILDING: HARK | ROOM: 115

PREREQUISITES: ECO 207

This course examines the determinants of market structure and market performance. Questions discussed are pricing, product and quality choice, collusion, mergers, vertical restrictions, antitrust policy and related welfare analysis. Additional topics (depending on time) that are covered are networks, auctions, advertisement, and research and development. The course puts a special emphasis on studying strategic situations and using the tools of game theory. We use examples from US and international markets to illustrate the main theoretical ideas.

BUILDING: HARK | ROOM: 115

PREREQUISITES: ECO 207

This course examines the determinants of market structure and market performance. Questions discussed are pricing, product and quality choice, collusion, mergers, vertical restrictions, antitrust policy and related welfare analysis. Additional topics (depending on time) that are covered are networks, auctions, advertisement, and research and development. The course puts a special emphasis on studying strategic situations and using the tools of game theory. We use examples from US and international markets to illustrate the main theoretical ideas.

BUILDING: GRGEN | ROOM: 108

PREREQUISITES: ECO 207

This course is intended to be an introduction to the study of the role of government in the economy, with an emphasis on the microeconomic aspects of this role. Both the taxation and the expenditure sides of government activity will be studied. The first part of the course will be devoted to the theory of public finance in order to build a foundation for the remainder of the course, which involved the application of this theory to particular programs and institutions (policy analysis). Typical topic include: public goods, social security, income taxation, tax reform, fiscal federalism, ect.

BUILDING: DEWEY | ROOM: 2110E

PREREQUISITES: ECO 207

This course is intended to be an introduction to the study of the role of government in the economy, with an emphasis on the microeconomic aspects of this role. Both the taxation and the expenditure sides of government activity will be studied. The first part of the course will be devoted to the theory of public finance in order to build a foundation for the remainder of the course, which involved the application of this theory to particular programs and institutions (policy analysis). Typical topic include: public goods, social security, income taxation, tax reform, fiscal federalism, ect.

BUILDING: DEWEY | ROOM: 2110E

PREREQUISITES: ECO 207

If the first time slot is not available, she would like to go for a 6:15-7:30pm start time for her class.

BUILDING: MEL | ROOM: 205

PREREQUISITES: ECO 207 and ECO 209

If the first time slot is not available, she would like to go for a 6:15-7:30pm start time for her class.

BUILDING: MEL | ROOM: 205

PREREQUISITES: ECO 207 and ECO 209

This course is a required course for the Economics and Business Strategy major (organizations track) and will be valuable for advanced undergraduates majoring in economics, physics, and mathematics who are interested in pursuing graduate studies in economics. The course is concerned with the design of allocation mechanisms when economic agents have heterogeneous preferences and private information. Examples include the allocation of spectrum licenses to the operators of mobile phone networks, the decision as to whether to provide a public good, the allocation of men to women for dating purposes, and the allocation of students to colleges. Basic results in the mechanism design and auction theories will be covered. Formal concepts used in the course include: mathematical expectation, conditional mathematical expectation, Bayes' rule; the chain and the product rules for differentiation, integration by parts, optimization; extensive and normal form games, the Nash equilibrium, and the Bayes-Nash equilibrium.

BUILDING: MOREY | ROOM: 525

PREREQUISITES: Recommended: Calculus and ECO 288

The theoretical part of the course examines the role of banks as liquidity providers and how financial panics (bank runs) may arise as a side effect. A similar link is drawn between the benefits of an integrated financial system and the possibility of financial contagion. The empirical part of the course focuses on the most recent financial crisis, with a special emphasis on subprime mortgages and securitization as primary causes. It is also explained how high leverage and short-term borrowing via repo markets (the shadow banking system) aggravated the crisis. Finally, the course examines the response of the Federal Reserve and other regulatory agencies.

BUILDING: GRGEN | ROOM: 109

PREREQUISITES: ECO 207, one semester of calculus

The theoretical part of the course examines the role of banks as liquidity providers and how financial panics (bank runs) may arise as a side effect. A similar link is drawn between the benefits of an integrated financial system and the possibility of financial contagion. The empirical part of the course focuses on the most recent financial crisis, with a special emphasis on subprime mortgages and securitization as primary causes. It is also explained how high leverage and short-term borrowing via repo markets (the shadow banking system) aggravated the crisis. Finally, the course examines the response of the Federal Reserve and other regulatory agencies.

BUILDING: GRGEN | ROOM: 109

PREREQUISITES: ECO 207, one semester of calculus

The debate on the role of the state versus that of the free market in the socioeconomic process is as old as the history of political economy. We discuss wheconomics of state policy and the long-run historical processes that created the political & economic conditions. Students’ performance is based on three short essays (four typed pages each) presented to the class for discussion and thereafter revised for grading. No mid-term & final examinations.

BUILDING: MOREY | ROOM: 501

Game theory is a systematic study of strategic situations. It is a theory that helps us analyze economic and political strategic issues, such as behavior of individuals in a group, competition among firms in a market, platform choices of political candidates, and so on. We will develop the basic concepts and results of game theory, including simultaneous and sequential move games, repeated games and games with incomplete information. The objective of the course is to enable the student to analyze strategic situations on his/her own. The emphasis of the course is on theoretical aspects of strategic behavior, so familiarity with mathematical formalism is desirable.

BUILDING: MEL | ROOM: 203

Game theory is a systematic study of strategic situations. It is a theory that helps us analyze economic and political strategic issues, such as behavior of individuals in a group, competition among firms in a market, platform choices of political candidates, and so on. We will develop the basic concepts and results of game theory, including simultaneous and sequential move games, repeated games and games with incomplete information. The objective of the course is to enable the student to analyze strategic situations on his/her own. The emphasis of the course is on theoretical aspects of strategic behavior, so familiarity with mathematical formalism is desirable.

BUILDING: MOREY | ROOM: 321

The senior seminar is a student driven independent project that culminates in the writing and presentation of a substantial piece of original economic research by each participant in the seminar. The project is approved and supervised by the instructor of the course. Interested students are encouraged to discuss potential research topics with the instructor prior to the start of the semester. Please contact Professor Rizzo or Jenna Wernert if you are interested in this course for Spring 2017.

BUILDING: HARK | ROOM: 208

PREREQUISITES: ECO 207, ECO 209, ECO 231W

Responsibility for one recitation section and/or for holding office hours under the instructor’s supervision. Departmental approval required.

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Designed for advanced students seeking to do research beyond what is contained in the regular course offerings. Requires faculty supervisor in the economics department.

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Not for concentration credit. Requires faculty supervisor in the economics department.

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