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.

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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: B&L | ROOM: 109

PREREQUISITES: ECO 108 or equivalent

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 recommended

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

BUILDING: MEL | ROOM: 221

PREREQUISITES: ECO 207 recommended

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BUILDING: MOREY | ROOM: 504

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BUILDING: MEL | ROOM: 206

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: B&L | ROOM: 106

PREREQUISITES: ACC201; and MKT203 or 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: B&L | ROOM: 106

PREREQUISITES: ACC201; and MKT203 or 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: B&L | ROOM: 106

PREREQUISITES: ACC201; and MKT203 or 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: B&L | ROOM: 106

PREREQUISITES: ACC201; and MKT203 or 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?

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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(required) 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(required) ECO 207(suggested)

Explore how big business emerged in modern Brazil and impacted the country’s development and classification as one of the world’s five major emerging economies. Using an economic historical lens, we will investigate how Brazilian growth and development conforms to or diverges from traditional economic history models. The course looks particularly at theories of development and how transportation, banking, and the film industry impacted Brazil’s 19th and 20th century history. **Note** Students taking this course for ECO credit must have previously taken ECO 108.

BUILDING: LCHAS | ROOM: 163

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 and inference of cross-section models.

BUILDING: MEL | ROOM: 203

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 and inference of cross-section models.

BUILDING: DEWEY | ROOM: 2110E

PREREQUISITES: Eco 230, Math 203, or Stat 213

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BUILDING: HARK | ROOM: 114

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: HARK | ROOM: 114

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 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: GAVET | ROOM: 202

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: GAVET | ROOM: 202

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

Incorporates insights from psychology into the standard economic model of consumer choice; asks if institutions can be designed to help people make better decisions.

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PREREQUISITES: ECO 207, 1 semester of calculus

Incorporates insights from psychology into the standard economic model of consumer choice; asks if institutions can be designed to help people make better decisions.

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PREREQUISITES: ECO 207, 1 semester of calculus

This course is an introduction to development economics. Why are some countries poor and others rich? We will explore various topics in development from classics to current ‘hot’ issues, and learn the causes of poverty and inequality between and within countries. The course will cover standard theories in development economics as well as new topics in political economy and historical development

BUILDING: MOREY | ROOM: 504

This course is an introduction to development economics. Why are some countries poor and others rich? We will explore various topics in development from classics to current ‘hot’ issues, and learn the causes of poverty and inequality between and within countries. The course will cover standard theories in development economics as well as new topics in political economy and historical development

BUILDING: MOREY | ROOM: 504

The course will first examine the role of banks in the economy. In particular we will show how banks can facilitate the provision of liquidity and risk sharing. Another main question we will address is whether a financial crisis, such a bank run, can arise on its own and then spread to the non-financial sector. We will show that this is indeed theoretically possible. Subsequently, we will examine historical evidence trying to determine which of the crises in the 1930's arose on their own, as a bank run, and which arose as a consequence of a change in the real economy. Finally, we will discuss regulation and specifically how policy recommendations have changed over the years in response to economists' understanding of what causes financial crises.

BUILDING: GRGEN | ROOM: 109

PREREQUISITES: ECO 207, one semester of calculus

The course will first examine the role of banks in the economy. In particular we will show how banks can facilitate the provision of liquidity and risk sharing. Another main question we will address is whether a financial crisis, such a bank run, can arise on its own and then spread to the non-financial sector. We will show that this is indeed theoretically possible. Subsequently, we will examine historical evidence trying to determine which of the crises in the 1930's arose on their own, as a bank run, and which arose as a consequence of a change in the real economy. Finally, we will discuss regulation and specifically how policy recommendations have changed over the years in response to economists' understanding of what causes financial crises.

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 what economists, political scientists, & economic historians characterize as the Washington consensus versus the Beijing consensus or the Asian model. This is followed by a discussion of the contributions of some notable thinkers — Adam Smith, Alexander Hamilton, Friedrich List, John Maynard Keynes, & Friedrich von Hayek. The greater part of the course deals with selected historical cases across the globe. The discussions are informed by a political economy conceptual framework, which helps to explain the politics and economics 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

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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