Economics



Professors:  Cruz-Saco, Jensen, McKenna, Pack, Peppard; Associate Professors:  Mukerji, Park; Assistant Professors:  Chavanne, Craigie, Lopez-Anuarbe, Zhang; Adjunct Assistant Professor: McMillen; Adjunct Instructor:  Brindamour;  Professor Howes, chair

The Major in Economics

The major consists of at least ten courses in economics, including five core courses:  111, 112, 205, 206, and 230.  The remaining courses must include two electives at the 200 level or higher, two further electives at the 300 level or higher, and one further elective at the 400 level (or 497-498).  Only two courses from another institution (excluding credit from Advanced Placement, International Baccalaureate, or A-level examinations) may be counted toward the major.  Under normal circumstances, transfer credit may only be substituted for 200-level electives.  Majors are encouraged to take courses in mathematics; Mathematics 107 or 206 is a prerequisite for Course 230.

Students may declare the major only after passing a qualifying examination for admission to the major, which will be offered every spring prior to the deadline for declaring a major.  Students who have satisfied any of the following criteria will be exempted from the qualifying examination:

  • Receiving a grade of B- or higher in both Courses 111 and 112.
  • Receiving a grade of A- or higher in either Course 111 or Course 112.
  • Receiving a score of 4 or 5 on either the Advanced Placement microeconomics or macroeconomics examination, a score of 6 or 7 on the International Baccalaureate economics examination, or an equivalent score on an A-level economics examination.

Prior to declaring the major, a student must meet with a prospective adviser to design a feasible plan for completing the remaining core requirements before the end of the junior year.  The adviser must sign the Economics Major Plan form, indicating approval of the plan and that the student has either passed the qualifying examination or been exempted for one of the reasons listed above.  A signed Economics Major Plan form must be submitted to the Office of the Registrar along with the official major declaration form.

Students are expected to declare the major before the end of the sophomore year.  Under normal circumstances, students who have not satisfied the core requirements by the end of the junior year will not be permitted to complete the major.

The Minor in Economics

The minor consists of a minimum of six courses in economics, which must include Courses 111 and 112; Course 205 or 206; at least one course at the 300 or 400 level; and two additional elective courses.  Only two courses from another institution (excluding credit from Advanced Placement, International Baccalaureate, or A-level examinations) may be counted toward the minor.  Under normal circumstances, transfer credit may only be substituted for 200-level electives.

Learning Goals in the Economics Major

Economics, a social science, is concerned with the decisions a society makes to meet its material needs. Economics analyzes the production, distribution and use of goods and services in any particular society, both at the local and at the global level.

Among the challenging questions you will investigate as an economics major are the following:

  • What are the causes of economic crises, and why do economists differ about these causes?
  • Are markets the solution for all economic problems?
  • Is there a role for government in the economy?
  • What are the factors that enable some countries to develop, while others lag behind?
  • What consequences follow from the fact that all countries are now part of an international, globalized economy?
  • What are the causes of, and solutions for, poverty?
  • What role does economics play with respect to such issues as race and gender?
  • What is an equitable distribution of income?  Should economists ask this question?

As an economics major, you will learn to think analytically, to pose and solve economic problems, to find and create relevant economic data sets, and to use economic models to both construct and test economic hypotheses.

You will study microeconomics, which typically deals with the behavior of individual consumers and firms, and macroeconomics, which analyzes the aggregate behavior of the domestic or international economy.

You will examine the role that assumptions and values play in economics, how these help to create different schools of economic thought (including: Neoclassical, New Keynesian, New Classical, Keynesian, and Post Keynesian), and how they lead to the debates that occur within economics.

You will explore the latest economic ideas and their application to such fields as:  finance, labor, environmental economics, industrial organization, public finance, health, development, and econometrics.

You will learn how different societies organize the allocation of scarce resources among competing needs and what the consequences are for equity, efficiency and economic growth.

Through the SATA Program, you will have the opportunity to observe the differences among economies in such diverse countries as Peru, Vietnam, and Italy.

By taking courses in related areas such as international relations, government, sociology, and environmental studies, you will come to understand the necessity of an interdisciplinary approach to economic issues.

Among the important skills that you will develop by majoring in economics are the following:

  • The ability to write concisely, clearly, and critically
  • The ability to formulate and test economic hypotheses
  • The ability to analyze and critique different schools of economic thought
  • The ability to use software packages such as Stata to gather and analyze relevant economic data
  • The ability to formulate and carry out a research project
  • The ability to read scholarly journals

By the time you have completed your major, you will be prepared to undertake jobs relating to economics, to undertake graduate work in economics or business, and, most importantly, to develop a life-long enjoyment of reading, interpreting, and critically evaluating economic literature in all its forms.

Courses

ECONOMICS  111  INTRODUCTORY MACROECONOMICS  An introduction to problems of unemployment, inflation, and economic growth in the United States.  Topics include the impact of taxation, government expenditures, and the regulation of interest rates and money; the balance of international payments and the role of the dollar; and the relationships between the United States and the developing world.

               Open to freshmen and sophomores.  Enrollment limited to 30 students per section.  Offered both semesters.  This course satisfies General Education Area 3.  Staff

ECONOMICS  112  INTRODUCTORY MICROECONOMICS  An exploration of  economic decision-making by individuals and firms; an introduction to the structure of markets, including competitive, monopoly, and oligopoly.  Topics include labor, capital, and product markets, as well as information economics and trade theory.

               Open to freshmen and sophomores.  Enrollment limited to 30 students per section.  Offered both semestersThis course satisfies General Education Area 3.  Staff

ECONOMICS  203  ECONOMIES OF THE MIDDLE EAST  An introduction to economic development strategies of the countries of the Middle East, including the Arab countries, Turkey, and Iran.
               Prerequisite:  Courses 111 and 112.  Enrollment limited to 30 students.  A. Alachkar

ECONOMICS  205  INTERMEDIATE MICROECONOMIC THEORY  An intermediate-level analysis of economic decision-making by individuals and firms under competitive and imperfectly competitive conditions.

               Prerequisite:  Course 112.  Open to sophomores and juniors.  Enrollment limited to 25 students per section.  Offered both semesters.  D. Chavanne, M. Lopez-Anuarbe, Y. Park, D. Peppard, Staff

ECONOMICS  205A  INTERMEDIATE MICROECONOMIC THEORY (WITH CALCULUS)  An intermediate-level analysis of economic decision-making by individuals and firms under competitive and imperfectly competitive conditions using calculus.

               Prerequisite:  Course 112 and Mathematics 112.  Enrollment limited to 25 students.  Y. Park

ECONOMICS  206  INTERMEDIATE MACROECONOMIC THEORY  A study of the determinants of national income, employment, and price levels in the short run; of the problem of business fluctuations in the economy and theoretical attempts to explain them; and of integration of macroeconomic theory with analysis of long-run growth.

               Prerequisite:  Course 111.  Open to sophomores and juniors.  Enrollment limited to 25 students per section.  Offered both semesters.  M. Cruz-Saco, P. Mukerji, E. McKenna, S. Pack

ECONOMICS  208  ECONOMICS OF THE INFORMAL SECTOR IN VIETNAM  Students will learn about the informal sector in Vietnam by conducting surveys among urban informal sector workers.  They will compile their data and write about their findings in the context of readings about the urban informal sector in Vietnam.  This course is taught only in Vietnam during SATA programs.  Students taking this course must also take Course 216.

               Prerequisite:  Courses 111 and 112.  R. Jensen, D. Peppard

ECONOMICS  210  INTERNATIONAL ECONOMICS  Application of economic analysis to issues of international trade and international finance.  Determination of exchange rates, balance of payments analysis, trade and tariff policy, constraints imposed by the external sector on domestic economic policy measures, and international institutions.  Topics are then put into historical perspective as part of a study of the development of the modern world economy.  Particular attention to the changing role of the U.S. in the world economy.

               Prerequisite:  Courses 111 and 112.  Enrollment limited to 30 students.  R. Jensen

ECONOMICS  212  ENVIRONMENTAL ECONOMICS  The application of economic theory to natural resource use and environmental problems.  Emphasis on the environmental consequences of externalities, a theoretical analysis of policies designed to arrest and control environmental degradation, and the contribution of benefit-cost analysis to environmental problems.  This is the same course as Environmental Studies 212.

               Prerequisite:  Course 112.  Enrollment limited to 30 studentsStudents may not receive credit for this course and Economics 307. Staff

ECONOMICS  216  POLITICAL ECONOMY OF POSTWAR VIETNAM  A study of the interaction between economic theory and policy formulation in Vietnam.  Topics include transition to a market economy, urbanization, industrial policy, and rural economic development.

               Prerequisite:  Courses 111 and 112.  Enrollment limited to 30 students.  R. Jensen, D. Peppard

ECONOMICS  219  WAGES, INCOME, AND INEQUALITY  An exploration of how trends in the world since the 1960s have affected wages and income distribution in the United States.

               Prerequisite:  Course 112.  Enrollment limited to 30 students. Students may not receive credit for this course and Economics 319. C. Howes

ECONOMICS  220  ECONOMICS OF MULTILATERAL ORGANIZATIONS  An examination of the aims and impact, as well as inner workings, benefits, and shortcomings of multilateral organizations such as the International Monetary Fund (IMF), the World Trade Organization (WTO), and the World Bank (WB).  The course considers the evolution and reform of these organizations in response to issues relating to economic development.

               Prerequisite:  Courses 111 and 112.  Enrollment limited to 30 students.  P. Mukerji

ECONOMICS  223  PUBLIC FINANCE  An examination of economic justifications for government activity and the impact of government spending and taxing on the economy.  Analysis of spending programs, such as education, defense, health and social insurance, and the nature and effects of taxes, particularly the personal and corporate income taxes and consumption taxes.  Attention to the roles of different levels of government in a federal system.

               Prerequisite:  Courses 111 and 112.  Enrollment limited to 30 students. Students may not receive credit for this course and Economics 328. This is a designated Writing course.  D. Peppard

ECONOMICS  224  EMERGING ECONOMIES IN ASIA AND LATIN AMERICA  This is the same course as Government 224.  Refer to the Government listing for a course description.

ECONOMICS  224f  EMERGING ECONOMIES IN ASIA AND LATIN AMERICA  (In Chinese or Spanish)  This is the same course as Government 224f.  Refer to the Government listing for a course description.

ECONOMICS  225  ECONOMIC HISTORY/HISTORY OF ECONOMIC THOUGHT:  I  Economic history and the history of economic thought from earliest times to the French Revolution.  Topics include the ancient economy, feudalism, Marxist and non-Marxist theories of economic history, Adam Smith, and early socialist thought.  Primary sources are read.

               Prerequisite:  Course 111 or 112.  Enrollment limited to 30 students.  This is a designated Writing course.  S. Pack

ECONOMICS  226  POLITICAL ECONOMY OF AMERICAN BUSINESS  An examination of business in the politics and economy of the United States.  Topics include the nature of business structures, government regulation of business, the impact of business on U.S. politics and public policy, economic development, and globalization.  Emphasis on particular industries, such as transportation, energy, agriculture.  This course meets concurrently with Government 226, with a maximum enrollment of 20 students per course; students may not receive credit for both courses.

               Prerequisite:  Course 111 or 112.  Open to sophomores, juniors, and seniors, with preference given to sophomores.  Enrollment limited to 20 students.  D. Peppard and W. Frasure

ECONOMICS  227  ECONOMICS AND MORALITY  An exploration of the strengths and limitations of objective, analytical cost-benefit analysis.  Topics include gift-giving, voting, trade, price gouging, organ sales, price controls, and others.  Goals include illuminating the proper scope of the economic way of thinking and discovering how economic arguments can best be used to improve the world.

               Prerequisite:  Course 112.  Enrollment limited to 30 students.  This is a designated Writing course.  D. Chavanne

ECONOMICS  229  ECONOMICS OF FOOD:  A FEMINIST PERSPECTIVE  A study of the production, distribution, preparation, consumption, and disposal of food in various economies, with a focus on the determinants and repercussions of the sexual division of labor.  This course is taught in SATA programs only.

               Prerequisite:  Course 111, 112, or permission of the instructor.  Enrollment limited to 30 students.  S. Pack

ECONOMICS  230  ECONOMETRICS I  An introduction to the use of statistical models and measurement in estimating economic relationships and testing economic hypotheses through analysis of data.

               Prerequisite:  Courses 111 and 112, and either Mathematics 107 or Mathematics 206.  Open to sophomores and juniors.  Enrollment limited to 20 students.  This is a designated Writing course.  Offered both semesters.  T. Craigie, C. Howes, Y. Park

ECONOMICS  234  ECONOMIC DEVELOPMENT  An examination of the economies of developing countries in Africa, Latin America, and Asia, and of the nature of poverty and underdevelopment that is characteristic of those economies.  Special attention to the role of economic theory in shaping general development policies.  An assessment of economic theory and policy as part of an historical study of the development effort.

               Prerequisite:  Courses 111 and 112.  Enrollment limited to 30 students.  R. Jensen

ECONOMICS  235  GENDER AND DEVELOPMENT  An examination of women’s roles in development and impact of different economic development strategies on the status of women in developing countries.

               Prerequisite:  Courses 111 and 112.  Enrollment limited to 30 students.  Staff

ECONOMICS  236  LIBERTARIAN AND ANARCHIST ECONOMIC THOUGHT  This course compares and contrasts far right and far left wing anarchist critiques of contemporary capitalism and visions for the future:  how are they different, how are they the same?

               Prerequisite:  Course 111 and 112.  Enrollment limited to 30 students.  This is a designated Writing course.  S. Pack

ECONOMICS  237  ECONOMIC GROWTH AND DEVELOPMENT IN LATIN AMERICA  An assessment of economic models from primary open economies, import substitution, and structural adjustment to trade liberalization and deregulation.  The course considers why Latin America continues in a developing or emerging condition in today′s global economy.  Competing theoretical perspectives on key growth and development issues will be considered.  This course may include an optional section that will meet for an additional hour each week to discuss supplemental readings in Spanish.  Students participating in the foreign language section will receive one additional credit hour, pass/not passed marking.

               Prerequisite:  Course 111 or 112.  Enrollment limited to 30 students.  M. Cruz-Saco

ECONOMICS  237f  ECONOMIC GROWTH AND DEVELOPMENT IN LATIN AMERICA (In Spanish)  This optional section will meet for an additional hour each week to discuss supplemental texts in Spanish.  Students participating in the foreign language section will receive one additional credit hour, pass/not passed marking.  Students electing Course 237f must concurrently register for Economics 237.  M. Cruz-Saco

ECONOMICS  240 HEALTH ECONOMICS  This course is designed to apply the principles of economics learned in Economics 112 to the health care industry.  Course topics will include:  the health care market and its reform, and international differences and similarities in the health care system.

               Prerequisite:  Course 112.  Enrollment limited to 30 students.  This is a designated Writing course.  M. Lopez-Anuarbe

ECONOMICS  247  URBAN AND REGIONAL ECONOMICS  Past and present economic functions of cities, theories of urban development, and the role of cities in larger regional contexts.  Poverty, housing, racial discrimination, and other problems characterizing many urban areas.  International comparisons of urban history and economic development.

               Prerequisite:  Course 112.  Enrollment limited to 30 students.  This is a designated Writing course.  Staff

ECONOMICS  248  INTRODUCTION TO FINANCIAL INSTITUTIONS AND MARKETS  Economic functions of financial systems.  Major types of financial institutions and markets.  Basic valuation of securities and investment projects.  Theory of financial market efficiency and randomness of price fluctuations.  Comparison of financial systems in developed and developing countries.  Recent trends:  deregulation, disintermediation, securitization, globalization, and the growth of derivatives markets.  Causes and consequences of financial crises.

               Prerequisite:  Course 112.  Enrollment limited to 30 students.  Y. Park

ECONOMICS  249  MONEY AND BANKING  An introduction to money, banking, and financial markets, from both a theoretical and policy perspective.  Emphasis on the evolution of banking and financial market institutions.

               Prerequisite:  Course 111.  Enrollment limited to 30 students.  P. Mukerji

ECONOMICS  250  ECONOMIC JUSTICE  Is capitalism consistent with justice?  The course investigates this question through a close examination of economic theories that explain how the distribution of income is determined, and philosophical theories that explain how distribution should be determined.  The contrasting views of Rawls and Nozick will provide the context for our investigation.

               Prerequisite:  Course 112.  Enrollment limited to 30 students.  This is a designated Writing course.  E. McKenna

ECONOMICS  255  INTRODUCTION TO BEHAVIORAL FINANCE  An introductory overview of how social science can be used to provide a better understanding of financial decision making, financial market outcomes, and the functioning of financial institutions.  Emphasis on the prevalence and consequence of cognitive biases and attitudes toward risk in financial markets.

               Prerequisite:  Course 112.  Enrollment limited to 30 students.  This is a designated Writing course.  D. Chavanne

ECONOMICS  258  WHY NATIONS FAIL  A review of institutional economics, focusing on the role of institutions in development.  Based on the seminal book Why Nations Fail, the course will examine how different economic institutions affect outcomes at both the microeconomic and macroeconomic levels.  This course is taught only in the SATA South Korea program.

               Enrollment limited to 30 students.  Y. Park

ECONOMICS  306  GROWTH THEORY  An investigation of topics concerning growth in a global economy.  The course will investigate theoretical models and empirical evidence relating to the process of growth.  Demand and supply constrained growth models will be examined, and the social factors influencing the rate of growth explored.

               Prerequisite:  Course 206 and Mathematics 112 (or a more advanced calculus course).  Enrollment limited to 30 students.  E. McKenna

ECONOMICS  308  EXPERIMENTAL ECONOMICS  An overview of how experimental methods can be used to test and advance economic theory by studying individual and group decision making.  Emphasis on designing experiments, testing hypotheses, and producing an empirical research paper.

               Prerequisite:  Course 205.  Enrollment limited to 30 students.  D. Chavanne

ECONOMICS  311  INTERNATIONAL TRADE  The theory of international trade, analysis of the costs and benefits of trade, and application to specific problems in international policy.

               Prerequisite:  Courses 205 and 230.  Enrollment limited to 30 students.  P. Mukerji

ECONOMICS  314  ANTITRUST ECONOMICS AND POLICY  An economic analysis of antitrust law and policy.  Relevant aspects of foundation statutes such as the Sherman Act of 1890, the Clayton Act of 1914, and the Federal Trade Commission Act of 1914 will be reviewed with emphasis on the law and economics of monopolization, horizontal restraints of trade, oligopoly and tacit collusion, horizontal and vertical mergers, price discrimination, vertical integration and restraints.

               Prerequisite:  Courses 205 and 230.  Enrollment limited to 30 students.  Staff

ECONOMICS  317  ECONOMIC ANALYSIS OF LAW  Economics and law with special reference to how the law promotes efficiency when it creates incentives for problems to be solved in the most cost efficient way and when it reduces transaction costs so that parties to a dispute can reach low-cost solutions.  Topics will include basic price theory, definitions of efficiency, the Coase Theorem, and the economics of contract law, tort law, and antitrust.

               Prerequisite:  Course 205.  Enrollment limited to 30 students.  Staff

ECONOMICS  322  GAME THEORY This course covers the fundamental tools of game theory; extensive form games, normal form games, Nash equilibria, and evolutionary stability.  Game theory contributes to the understanding of social interactions.  We explore such issues as credible and incredible threats and the value of pre-commitment.

               Prerequisite:  Course 205.  Enrollment limited to 30 students.  M. Lopez-Anuarbe

ECONOMICS  324  CORPORATE FINANCE  An introduction to two key decisions:  selection of projects using the net present value rule, and the choice between debt and equity financing.  Topics include decision-making under conditions of risk, the valuation of options, mergers and international finance, limitations of the net present value rule, and valuation of long-term investments.  Assignments include problem sets and case studies for discussion in class.

               Prerequisite:  Courses 205 and 230.  Enrollment limited to 30 students.  Y. Park

ECONOMICS  326  ECONOMIC HISTORY/HISTORY OF ECONOMIC THOUGHT:  II  Economic history and the history of economic thought since the French Revolution.  Topics include state building; industrialization, Marxism, imperialism, economic growth, hot and cold wars, conservative, Keynesian, and institutional theories of the economy.  Primary sources are read.

               Prerequisite:  Course 205 or 206.  Enrollment limited to 30 students.  This is a designated Writing course.  S. Pack

ECONOMICS  330  INTERNATIONAL FINANCE  International finance builds on macroeconomic tools of analysis and deals with the balance of payments and exchange rate dynamics along with the effectiveness of macroeconomic policy in an open world economy with floating exchange rates.  Theory will be complemented by a survey of the history and political economy of international financial regimes.

               Prerequisite:  Courses 206 and 230.  Enrollment limited to 30 students.  P. Mukerji, M. Cruz-Saco

ECONOMICS  332  OPEN MACROECONOMICS:  EMERGING ECONOMIES  A study of macroeconomic stability and growth in emerging economies.  Topics include open-economy models; sovereign debt and private sector indebtedness; financial fragility; problems and policy dilemmas with exchange rate management, monetary and fiscal policies, regulation, international macroeconomic coordination; management of exchange rate, financial, and real crises.  Analysis of case studies.  This course may include an optional section that will meet for an additional hour each week to discuss supplemental readings in Spanish.  Students participating in the foreign language section will receive one additional credit hour, pass/not passed marking.

               Prerequisite:  Course 206.  Enrollment limited to 30 students.  M. Cruz-Saco

ECONOMICS  332f  OPEN ECONOMY MACROECONOMICS FOR DEVELOPING COUNTRIES (In Spanish)  This optional section will meet for an additional hour each week to discuss supplemental texts in Spanish.  Students participating in the foreign language section will receive one additional credit hour, pass/not passed marking.  Students electing Course 332f must concurrently register for Economics 332.

ECONOMICS  336  INDUSTRIAL ORGANIZATION  Theoretical analysis of the structure and interactions of firms and markets.  Emphasis on imperfectly competitive markets and real-world frictions such as limited information, transaction costs, government actions, and barriers to entry by new firms.

               Prerequisite:  Course 205.  Enrollment limited to 30 students.  M. Lopez-Anuarbe

ECONOMICS  341  ECONOMICS OF THE FAMILY  With divorce and non-marital childbearing on the rise in the United States, this course highlights trends and racial-ethnic differences in family formation from the mid-1900s to the present.  Consequences for child, adolescent, and adult outcomes will be critically analyzed.

               Prerequisite:  Courses 205 and 230.  Enrollment limited to 30 students.  T. Craigie

ECONOMICS  350  MONEY AND BANKING IN THE DOMESTIC ECONOMY  An investigation of the role of the Central Bank in formulating monetary policy, and the implications for inflation, unemployment, and government deficits.  Close attention will be paid to the question of whether a country possessing a sovereign currency and flexible exchange rates need ever default on its debt.

               Prerequisite:  Course 206.  Enrollment limited to 30 students.  E. McKenna

ECONOMICS  354  ECONOMETRICS II  Simultaneous equation systems, difference equations, stationary time series models, arch models, maximum likelihood estimation, stochastic trends, unit root processes, and Dickey-Fuller tests.  Extensive use of econometric software and lab facilities, and written projects integrating economics and quantitative methods.  Strongly recommended for students planning to do Individual Study or Honors Study, as well as for students planning to pursue graduate work or a professional career in economics.

               Prerequisite:  Course 230 and Mathematics 112 (or a more advanced calculus course).  Enrollment limited to 20 students.  E. McKenna, P. Mukerji

ECONOMICS  356  ADVANCED ECONOMETRICS  Students will explore advanced econometric techniques while concurrently learning how to execute them using real world data.  The course requires an empirical project that utilizes at least one of these advanced econometric methods.  Strongly recommended for students who will enroll in Individual/Honors Study or pursue a post-baccalaureate degree in economics, public policy, or related social science.

               Prerequisite:  Course 230 and Mathematics 112 (or higher calculus course).  Enrollment limited to 20 students.  T. Craigie

ECONOMICS  402  ECONOMICS OF DISCRIMINATION  To develop a working knowledge of discrimination in various labor markets, this course presents economic models of discrimination and implications for anti-discriminatory policies.  Beyond racial and gender prejudice, discrimination on the basis of statistical evidence, beauty, fertility decisions, and sexuality will be critically discussed.

               Prerequisite:  Courses 205, 206, and 230.  Open to senior economics majors.  Enrollment limited to 16 students. This is a designated Writing course.  T. Craigie

ECONOMICS  404  SEMINAR IN ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS  The application of economic theory to environmental problems and to the use of natural resources, with special reference to cost-benefit analysis, dynamic efficiency, externalities, and public goods.  Current issues such as global warming, acid deposition, fossil fuel use, biodiversity, and environmental justice will be discussed.  Each issue will be analyzed in terms of recent policy changes and their economic implications.

               Prerequisite:  Courses 207 and 230.  Open to senior economics and environmental studies majors.  Enrollment limited to 16 students.  This is a designated Writing course.  Staff

ECONOMICS  405  TOPICS IN POST-KEYNESIAN ECONOMICS  A study of the causes of and relationship between inflation and unemployment.  Monetarist, Keynesian, and Post-Keynesian views of inflation and unemployment will be examined in terms of theoretical and policy arguments, the interrelation of inflation and unemployment, and the strengths and weaknesses inherent in each view.

               Prerequisite:  Courses 206 and 230.  Open to senior economics majors.  Enrollment limited to 16 students.  This is a designated Writing course.  E. McKenna

ECONOMICS  406  POLITICAL ECONOMY SEMINAR  Selected readings in national and international political economy.

               Prerequisite:  Courses 205, 206, and 230.  Open to senior economics majors.  Enrollment limited to 16 students.  This is a designated a Writing course.  M. Cruz-Saco, R. Jensen, D. Peppard

ECONOMICS  407  ECONOMICS OF CONFLICT AND COOPERATION  An introduction to fundamental microeconomic concepts relevant to the generic problem of coordinating social interactions among autonomous actors, with particular attention to conflict, competition, collective action, and coordination failures in capitalist economies.  Emphasis on how the public goods problem is dealt with under various institutional settings.

               Prerequisite:  Course 205 and Mathematics 113 or 212.  Open to senior economics majors.  Enrollment limited to 16 students.  This is a designated Writing course.  Y. Park

ECONOMICS  409  WOMEN AND WORK  An historical overview and economic analysis of the work traditionally done by women, including unpaid labor.  The course addresses the questions of why women are concentrated in a small number of occupations and forms of unpaid labor, why they are paid less than men on average, and how the experience of women of color differs from that of white women.

               Prerequisite:  Courses 205, 206, and 230.  Open to senior economics majors.  Enrollment limited to 16 students.  This is as designated Writing course.  C. Howes

ECONOMICS  411  TOPICS IN HEALTH ECONOMICS  An examination of topics relating to health economics, such as health care costs, health care reform, comparative health care systems, governmental policies relating to long-term care, and the effect of aging on the demand for health care.

               Prerequisite:  Course 205.  Enrollment limited to 16 students.  M. Lopez-Anuarbe

ECONOMICS  412  SEMINAR IN INTERNATIONAL ECONOMICS  A study of international economics, regarding both finance and trade.  Classic and new research will be read.  Students will undertake empirical analysis and write an original paper based on it.

               Prerequisite:  Course 230, and either 311 or 330.  Enrollment limited to 16 students.  Open to senior economics majors.  This is a designated Writing course.  P. Mukerji

ECONOMICS  416  SEMINAR IN THE HISTORY OF ECONOMIC THOUGHT:  ADAM SMITH AND THE RISE OF ECONOMICS  An intensive study of the work of Adam Smith, his place in the history of economic thought, and the relevance of his work to contemporary society.  Topics include cost plus pricing, supply side economics, the moral desirability of capitalism as a socioeconomic system, and the role of government in the economy.

               Prerequisite:  Courses 205, 206, and 230Open to senior economics majors.  Enrollment limited to 16 students.  This is a designated Writing course.  S. Pack

ECONOMICS  430  GROWTH AND PROMISE IN LATIN AMERICA AND THE CARIBBEAN  The promises of globalization, inequality, free trade agreements, foreign direct investment, the role of international financial institutions, and why certain countries are trapped in poverty.  How the ″new economic model″ in selected countries is affected by current trends in finance and trade, domestic economic policies, and socio-economic and political pressures.  This course may include an optional section that will meet for an additional hour each week to discuss supplemental readings in Spanish.  Students participating in the foreign language section will receive one additional credit hour, pass/not passed marking.

               Prerequisite:  Courses 206 and 230.  Open to senior economics majors.  Enrollment limited to 16 students.  This is a designated Writing course.  M. Cruz-Saco

ECONOMICS  430f  GROWTH AND PROMISE IN LATIN AMERICA AND THE CARIBBEAN (In Spanish)  This optional section will meet for an additional hour each week to discuss supplemental readings in Spanish.  Students participating in the foreign language section will receive one additional credit hour, pass/not passed marking.  Students electing Course 430f must concurrently enroll in Economics 430.  M. Cruz-Saco

ECONOMICS  440  GLOBALISM, GLOBAPHOBIA, PARADOXES  Analysis of pressing economic issues for emerging economies including the ″China effect,″ combinations of market oriented policies and state intervention (industrial policies, infrastructure, human capital), pro-poor growth, immigration, and environmental justice.  The complexities of policy making to attain sustained growth in a global context of uncertainty and change.  This course may include an optional section that will meet for an additional hour each week to discuss supplemental readings in Spanish.  Students participating in the foreign language section will receive one additional credit hour, pass/not passed marking.

               Prerequisite:  Course 206 and 230.  Open to senior economics majors.  Enrollment limited to 16 students.  This is a designated Writing course.  M. Cruz-Saco

ECONOMICS  440f  GLOBALISM, GLOBAPHOBIA, PARADOXES (In Spanish)  This optional section will meet for an additional hour each week to discuss supplemental readings in Spanish.  Students participating in the foreign language section will receive one additional credit hour, pass/not passed marking.  Students electing Course 440f must concurrently enroll in Economics 440.

ECONOMICS  455  SEMINAR IN ADVANCED BEHAVIORAL FINANCE  An advanced analysis of how social science can be used to provide a better understanding of financial decision making, financial market outcomes, and the functioning of financial institutions.  Emphasis on empirical results and how decisions and market outcomes differ from theoretical economic predictions.

               Prerequisite:  Courses 205, 230, and 255.  Enrollment limited to 16 students.  Open to senior economics majors.  This is a designated Writing course.  D. Chavanne

ECONOMICS  291, 292  INDIVIDUAL STUDY  This is a designated Writing course.

ECONOMICS  391, 392  INDIVIDUAL STUDY  This is a designated Writing course.

ECONOMICS  491, 492  INDIVIDUAL STUDY  This is a designated Writing course.

A student wishing to undertake Individual Study should present a proposal to the department by April 15 or November 15 in the semester preceding the Individual Study.  Students must have prior course work in the proposed field of study and must have taken course 230.

ECONOMICS  497-498  HONORS STUDY  Students wishing to undertake Honors Study should submit a preliminary proposal to the department by February 15 of their junior year.  A formal proposal is due April 15 of the junior year.  Students must also meet the following requirements:  Courses 205, 206, and 230.  Enrollment limited to 16 students.  Open to senior economics majors.  This is a designated Writing course.