ECON-110 Introductory Economics

Fall and Spring. Credits: 4

Introduction to economic issues and the tools that economists use to study those issues: supply and demand, decision making by consumers and firms, market failures, economic output and growth, fiscal and monetary policy in relation to unemployment and inflation, and international economics. Topics include both the study of markets and the need for public policy/government action to address market failures.

Applies to requirement(s): Social Sciences

ECON-116 Introduction to Financial Economics

Not Scheduled for This Year. Credits: 4

This course is an introduction to financial markets and the economic fundamentals of investment decisions, with the goal of increasing financial literacy and awareness of how investment decisions are made. Students will gain a perspective on how time, risk, return, and uncertainty are interconnected. Topics will include a general overview of the financial system and capital markets, the time value of money, risk and return analysis, and the essentials of investment portfolio management. After the course, students should understand the fundamental theories, concepts, and formulas related to financial decisions, how businesses and individuals are affected by financial markets and financial intermediaries, and gain a working knowledge of digital tools for financial analysis and investment portfolio composition.

Applies to requirement(s): Social Sciences

ECON-207 Special Topics

This 200-level course investigates a particular topic in economics at some depth without presupposing prior knowledge of economics. Many students may find one or more of these courses useful complements to majors and minors other than economics.

ECON-207EH Special Topics: 'Economics of Happiness'

Fall. Credits: 4

This course will explore happiness and wellbeing through an economic lens. Beginning with the World Happiness Report, we'll take an empirical approach to understanding the drivers of happiness and wellbeing across different regions and generations. Using a variety of media formats, complementary psychology research, campus exploration, and seminar-type discussions, we'll examine topics such as aging and dementia, technology use, altruism, connection and loneliness, personal finance, and the impact of social policies on wellbeing. We'll learn how to conduct simple cost-benefit analyses and develop creative economic solutions to social issues.

Applies to requirement(s): Social Sciences
Advisory: Students who took FYSEM-110EC Economics of Happiness cannot take this course.

ECON-210 Marxian Economic Theory

Not Scheduled for This Year. Credits: 4

An introduction to Marx's critique of political economy. Offers a close reading of volume 1 of Marx's Capital. Marx's understanding of capitalism as a system of accumulation and exploitation allow students a contrasting vision of an economic system based on dispossession, individual choice, and private property. Contemporary issues such as climate change; social and economic crisis; inequalities of race, gender, sexuality, and nation; de-growth; alternative forms of economic organization; and more are reviewed.

Applies to requirement(s): Social Sciences
Prereq: ECON-110 or CRPE-200.

ECON-211 Macroeconomic Theory

Spring. Credits: 4

Intermediate macroeconomic theory. Analysis of causes of long-run economic growth and short-run business cycles. Study of different macroeconomic models, consumption, investment, government spending, net exports, money supply, and money demand. Examination of fiscal and monetary policy and U.S. economic relations with the rest of the world.

Applies to requirement(s): Social Sciences
Prereq: ECON-110 and MATH-101.
Advisory: Students who have taken the International Baccalaureate or A-Level exams in economics should consult the department before registering for the course. The department does not recommend taking this as the first course in Economics.

ECON-212 Microeconomic Theory

Fall and Spring. Credits: 4

Microeconomic theory explores the foundations of consumer and firm theory as well as their theoretical applications. We examine the assumptions of models, market structures, and explore topics such as game theory and public goods.

Applies to requirement(s): Social Sciences
Prereq: ECON-110 and MATH-101.
Advisory: Students who have taken the International Baccalaureate or A-Level exams in economics should consult the department before registering for the course. The department does not recommend taking this as the first course in Economics.

ECON-213 Economic Development

Not Scheduled for This Year. Credits: 4

Economic development is the study of the macro and micro dynamics that shape economic and social outcomes in low and middle-income countries in Africa, Asia, Latin America and transition economies. The outcomes we focus on in this course are human well-being, poverty, and inequalities as well as structural transformation, economic growth, sustainability, and the creation of decent jobs. We will pay particular attention to the implications of the nature of an economy's insertion into the global economy and the global economic context, and to the role of government policies in advancing economic development.

Applies to requirement(s): Social Sciences; Multicultural Perspectives
Prereq: ECON-110.

ECON-215 Corporate Finance

Fall. Credits: 4

The course covers issues related to core principles of corporate financing and investing decision-making, with the goal of giving students a solid understanding of the main theories underlying a firm's investment decisions using open databases and a case-study approach. Students will learn to apply theories, concepts, and principles of corporate financing and investing decision-making; estimate future cash flows and evaluate the risk and return of an investment project; define the best investment opportunity based on the capital budgeting criteria; interpret the weighted average cost of capital (WACC) of a company; identify the operating and financial risk generated by the assets and capital structure; apply CAPM for valuation purposes; gain a working knowledge of core elements of financial statements.

Applies to requirement(s): Social Sciences
Other Attribute(s): Writing-Intensive
Prereq: ECON-110.

ECON-218 International Economics

Spring. Credits: 4

The first part of the semester investigates reasons why nations trade and factors that determine trade patterns, focusing on examples of agricultural and food trade. Using the basic tools of microeconomics, it considers the welfare and distributional impacts of free trade among countries. Further topics include barriers to trade, reasons for limiting trade, international food and agricultural policy, and current trade policy issues. The second part introduces the students to basic models in international finance and studies applications of current policy issues such as fixed exchange rates and the Euro.

Applies to requirement(s): Social Sciences
Prereq: ECON-110.

ECON-219 Environmental Economics

Spring. Credits: 4

In this class, we will use the lens of economic analysis to examine how environmental problems arise and what can be done to resolve them. This will include an assessment of relevant environmental policies (e.g., carbon tax & cap-and-trade programs), how these policies function, and what impacts they have on people and the economy. Topics include market failures and externalities, pollution, climate change, management of renewable and nonrenewable resources, sustainability, biodiversity, and others.

Applies to requirement(s): Social Sciences
Prereq: ECON-110.

ECON-220 Introduction to Econometrics

Fall and Spring. Credits: 4

A study of statistical methods applied to economic and social data. Measures of central tendency and dispersion, point and interval estimation, hypothesis testing, simple correlation, and simple and multiple regression analysis.

Applies to requirement(s): Meets No Distribution Requirement
Prereq: ECON-110 and MATH-101.

ECON-228 Political Economy

Not Scheduled for This Year. Credits: 4

This course introduces students to the modal interdisciplinary approach of political economy, an approach that de-centers economics from a narrow focus on optimization and hype-rationality to a broader vision of how the behavior of homo sapiens acting as economic agents is shaped by social and psychological processes. Thus, the determinants of economic outcomes are similarly impacted by emotional and social context. This course will offer a critical exploration of how the works of Adam Smith, David Ricardo, Karl Marx, Amartya Sen, and others have informed approaches to the study of political economy. Topics to be explored include: how socially constructed concepts of gender (as opposed to biological sex) and race/ethnicity impact value distribution; power dynamics in the workplace and larger society; and social investment thereby shaping the cultural architecture and economic processes that contribute to inequality. One of the objectives of this course is to specifically address the role of capital accumulation and mercantilist tendencies in modern capitalist economies in the diminution of productive self-employment, family businesses, and other alternatives to large-scale enterprises, leading to distorted forms of development resulting in catastrophic effects to the global ecology.

Applies to requirement(s): Social Sciences; Multicultural Perspectives
Other Attribute(s): Speaking-Intensive

ECON-241 Critical Development Studies

Spring. Credits: 4

Critical development studies explore the economic, political, cultural, and environmental conditions underpinning global economic systems (i.e. large-scale industrial, merchanting, and financial systems). Critical development studies seek to understand the dynamics of such systems and to develop methodologies for reducing marginalization and inequalities, to give the voiceless a voice in shaping public policies. These political economic studies often draw links between imperialism, colonization, slavery, and unequal trading relationships. In this course, we will seek to understand and evaluate proposals for advancing a better development path for the marginalized along constructed class, gender, and racial lines.

Applies to requirement(s): Social Sciences
Prereq: ECON-110.

ECON-249 Topics in Economics

ECON-249CN Topics in Economics: 'China's Innovation System'

Not Scheduled for This Year. Credits: 4

China is undergoing a massive transformation driven by innovation. The country has increased its capacity for innovation at a scale and speed unmatched in history. These innovations are reshaping China's domestic economy and the larger global economy. The various components of these innovation processes and concrete examples of actual innovations will be the subject of this course. We will also explore the impacts of these innovation processes and specific innovations on other social processes (economic, political, cultural, psychological, and ecological).

Applies to requirement(s): Social Sciences
Prereq: ECON-110.

ECON-249DF Topics in Economics: 'Development Finance'

Fall. Credits: 4

This course examines how financial systems, institutions, and instruments can be leveraged to advance sustainable and inclusive development. Students explore the economic, social, and environmental dimensions of development finance while building the analytical skills needed to evaluate financial strategies in emerging and complex contexts. Emphasis is placed on understanding how capital flows, risk structures, and governance frameworks shape development outcomes.

Applies to requirement(s): Social Sciences
Other Attribute(s): Speaking-Intensive
Prereq: ECON-110.

ECON-249EG Topics in Economics: 'Economic Growth'

Not Scheduled for This Year. Credits: 4

Once upon a time, the whole world was poor. Why is that no longer true? Since the Solow growth model was developed in the 1950s, we have known that the primary engine for economic growth is technological change. There has been a vast amount of research since the mid-1990s that has expanded our understanding of the mechanisms of economic growth, what creates technological change and how it affects economies. What is the difference between countries that have become rich and those that have not? Is there something countries can do to increase their economic growth? This course explores the mathematical models economists have been building to answer these and related questions.

Applies to requirement(s): Social Sciences
Prereq: ECON-110 and MATH-101.

ECON-249EV Topics in Economics: 'Introduction to ESG: Environmental, Social and Governance'

Spring. Credits: 4

Climate change and enhanced public awareness about environmental (E) and social (S) issues have brought essential differences to how businesses operate. Analysts and shareholders have long understood the consequences of poor corporate governance (G), but incorporating environmental and social factors into investment decision-making has evolved more slowly. This course considers ESG factors in their complexity and interconnection by assessing companies' ESG performance and its material impact on stakeholders' current and long-term wealth. After becoming familiar with global sustainable development challenges, students will be able to identify and evaluate ESG-related risk exposures and investment opportunities, as well as understand how ESG affects the valuation of different financial securities.

Applies to requirement(s): Social Sciences
Other Attribute(s): Speaking-Intensive, Writing-Intensive
Prereq: ECON-110 and either ECON-116 or ECON-215.

ECON-249HP Topics in Economics: 'Economics of Shopping: An Introduction to Industrial Organization'

Not Scheduled for This Year. Credits: 4

The economics of shopping is a course that explores how consumers buy goods and how firms get products onto shelves, covering topics such as consumer preferences, store choice, and consumer influence, but also research and development of patents, advertising, distribution, shelf competition, and store location choices. We will look at a variety of industries such as fast fashion and beer and students will perform their own semester long case study. We will apply basic microeconomic concepts and empirical methods and focus on developing economic thinking. This course is an introduction to the field of industrial organization.

Applies to requirement(s): Social Sciences
Prereq: ECON-110.
Advisory: Students who have taken ECON-307 may not take this course without prior permission.

ECON-270 Accounting

Fall. Credits: 4

The course, while using traditional accounting techniques and methodology, will focus on the needs of external users of financial information. The emphasis is on learning how to read, interpret, and analyze financial information as a tool to guide investment decisions. Concepts rather than procedures are stressed and class time will be largely devoted to problem solutions and case discussions. A basic knowledge of arithmetic (+,-,*,/) and algebra is suggested.

Applies to requirement(s): Meets No Distribution Requirement
Advisory: Not open to students who have taken EOS-225.

ECON-301 Advanced Game Theory

Fall. Credits: 4

The course will illustrate and analyze the strategies used in making interrelated decisions. We will develop game theoretical tools and apply them to examples from economics, business, politics, and even sports. Topics include the prisoner's dilemma, signaling, coordination, voting, and competition. We analyze games in static and dynamic environments with perfect and imperfect information.

Applies to requirement(s): Meets No Distribution Requirement
Restrictions: This course is open to juniors and seniors
Prereq: ECON-212.

ECON-306 Political Economy of Inequality

Not Scheduled for This Year. Credits: 4

This seminar develops a historical and theoretical analysis of issues and concerns arising from a Marxian specification of social and economic inequality. Using class as a lens for examining relationships between individuals, institutions, and society, the course examines the role of markets and the state in social and economic life, and the challenges of achieving class justice for all. Issues of governance, subjectivity, production, and reproduction in economic and social spheres are addressed in the writings of Darity, Hamilton, DeMartino, Marx, Williams, Robinson, Taylor, Loury, and others.

Applies to requirement(s): Social Sciences; Multicultural Perspectives
Restrictions: Course limited to sophomores, juniors and seniors
Prereq: ECON-210, ECON-211, or ECON-212.
Advisory: ECON-212.

ECON-307 Seminar in Industrial Organization

Not Scheduled for This Year. Credits: 4

Analysis of theoretical models and empirical studies on the economic performance of industries. Approaches studied include transaction cost economics, game theory, and pricing models. Topics include advertising, research and development, and relationships between government and business such as regulation and antitrust laws.

Applies to requirement(s): Meets No Distribution Requirement
Restrictions: This course is open to juniors and seniors
Prereq: ECON-212.

ECON-312 Seminar in International Trade

Fall. Credits: 4

This course examines current events in international trade and the rise of globalization since the 1950s. It emphasizes trade theories, and contemporary trade policy, while building an understanding of the evolution of globalization and the political issues shaping today's global economy. Topics include the expansion of regional trade agreements, environmental and labor standards, the TRIPs agreement, immigration, economic integration, trade disputes, and the impact of globalization on political views.

Applies to requirement(s): Social Sciences
Other Attribute(s): Speaking-Intensive, Writing-Intensive
Restrictions: This course is open to juniors and seniors
Prereq: ECON-212 or ECON-218.

ECON-314 Globalization and Development

Not Scheduled for This Year. Credits: 4

Many developing countries face significant economic challenges today: slow economic and productivity growth, premature de-industrialization, limited creation of decent jobs, large foreign debt burdens, growing climate change impacts, and high inequality. In this seminar, we analyze how the interactions between domestic economic dynamics and globalization (unfettered cross-border flows of trade, financial capital, foreign direct investment as well as the rise of China) have shaped economic development outcomes. We study how they led to success in some countries and huge challenges in others, and what domestic and international policy changes are needed to achieve more equitable and sustainable development.

Applies to requirement(s): Social Sciences; Multicultural Perspectives
Other Attribute(s): Speaking-Intensive, Writing-Intensive
Restrictions: This course is open to juniors and seniors
Prereq: ECON-211 or ECON-213.

ECON-319 Environmental Economics, Ecology and Conservation Policy

Not Scheduled for This Year. Credits: 4

Understanding and solving environmental problems requires interdisciplinary perspectives. This course links tools from economics with tools from ecology and environmental sciences to design effective policies for protecting the environment. We will examine topics such as the protection of rare and endangered species, rainforest conservation, climate change and others. We will also study important domestic and international policies related to these topics.

Applies to requirement(s): Social Sciences
Restrictions: This course is open to juniors and seniors
Prereq: ECON-212 or ECON-219.

ECON-320 Econometrics

Fall. Credits: 4

A study of advanced statistical methods in quantifying economic theory. Emphasis on the practical application of regression analysis to test economic theory, especially where the assumptions underlying ordinary least squares analysis are violated. Examines several different subjects that illustrate empirical economic research.

Applies to requirement(s): Meets No Distribution Requirement
Restrictions: This course is open to juniors and seniors
Prereq: ECON-220.

ECON-326 Economics of the Digital Economy

Spring. Credits: 4

This seminar explores the economic impact of the Internet, information technology, digitalization, and the networked information economy on manufacturing and manufacturing networks, global and local finance, goods and services markets, innovation and invention, intellectual property rights, public finance and taxation, security and cybercrime, media, and social networking. We investigate the implications of the networked information economy and digitalization, more broadly, for the creating of new economic (and social) relationships and the internet of everything. We also examine the continuing struggle over regulation of cyberspace across international borders and the definition and enforcement of intellectual property rights in a global context.

Applies to requirement(s): Social Sciences
Restrictions: This course is open to juniors and seniors
Prereq: ECON-211 and ECON-212.

ECON-338 Money and Banking

Spring. Credits: 4

Monetary theory and policy. Overview of financial markets and institutions. Explores the nature of money and the effects of changing money supply on the economy, theories of money demand, the various methods by which monetary policy can be conducted and the advantages and disadvantages of each, methods of banking regulation and the attendant problems that arise, and important episodes in monetary history (e.g., the Great Depression).

Applies to requirement(s): Social Sciences
Restrictions: This course is open to juniors and seniors
Prereq: ECON-211.
Advisory: MATH-101 recommended.

ECON-346 Population Economics Through Data Analysis

Spring. Credits: 4

Demography is the scientific study of human populations, primarily with respect to their size, structure, and development. Population economics, or economic demography, focuses on economic aspects of demographic topics, including fertility, mortality, migration, poverty, and inequality. This course studies each topic through a review of relevant research and economic models, and extensive analysis of censuses, household surveys, and other sources of demographic data.

Applies to requirement(s): Social Sciences
Restrictions: This course is open to juniors and seniors
Prereq: ECON-220.

ECON-349 Advanced Topics in Economics

ECON-349BG Advanced Topics in Economics: 'Backlash Against Globalization'

Not Scheduled for This Year. Credits: 4

The course offers a comprehensive understanding of the relationship between politics and the global economy. Examining key political and economic theories and institutions that facilitated globalization's evolution, we delve into the reasons behind the rise of economic isolationism, placing a particular emphasis on contemporary geopolitical stress points. After focusing on theoretical assessments and methodological approaches, we will learn how to measure globalization process from the perspective of various subjects (states, institutions, corporations) and flows (of capital, goods, information, people) and end with current issues and debates surrounding "globalization backlash," based on political, economic and social dimensions of globalization.

Applies to requirement(s): Social Sciences
Other Attribute(s): Speaking-Intensive, Writing-Intensive
Restrictions: This course is open to juniors and seniors
Prereq: ECON-211, ECON-212, ECON-218, or ECON-220.

ECON-349DV Advanced Topics in Economics: 'Development Economics: A Closer Look in Africa'

Not Scheduled for This Year. Credits: 4

Economic development is complex and nuanced, and differences in development persist globally. Many African countries, however, lag behind in key development indices and this precipitates our focus on Africa. In this seminar, we will build our knowledge of development issues in this region and provoke our interest in possible areas for future research to increase our understanding. To do this, this seminar will focus on field experiments aimed at providing causal evidence of interventions related largely to human capital development and entrepreneurship, critically examining what has worked and learn from what has not and their limitations. We will also keep abreast of current issues in development and discuss schools of thought on sustainable development, global poverty and aid.

Applies to requirement(s): Social Sciences; Multicultural Perspectives
Other Attribute(s): Writing-Intensive
Restrictions: This course is open to juniors and seniors
Prereq: ECON-220.

ECON-349EC Advanced Topics in Economics: 'Analysis of Empire of Cotton'

Not Scheduled for This Year. Credits: 4

This course focuses on analyzing the "Empire of Cotton," as it was labeled by Pulitzer Prize nominee Sven Beckert. This course explores the nexus between war capitalism as epitomized by British subjugation of peoples around the world, notably in India (the jewel in the crown) and China; the massive seizure of advanced textile manufacturing machines and raw materials (notably raw cotton), and the industrial revolution. The course also examines the history of globalization in this period of knowledge transfer, mass human trafficking, and slave economies of the USA, Caribbean, and South America. A basic hypothesis explored in the course will be whether this Empire of Cotton played a pivotal role in creating income and wealth inequalities between the so-called North and the marginalized South, inequalities that persist in the present.

Applies to requirement(s): Social Sciences
Other Attribute(s): Speaking-Intensive, Writing-Intensive
Restrictions: This course is open to juniors and seniors
Prereq: ECON-211 or ECON-212.

ECON-349HE Advanced Topics in Economics: 'Economics of Higher Education'

Fall. Credits: 4

This course applies microeconomic theory to the "industry" of academia, analyzing how institutions, students, and governments interact in an increasingly volatile market. We begin by evaluating education as an investment. We analyze the private wage premium and broader social returns (innovation, civic engagement) and debate the "signaling hypothesis" (does a degree create skill, or simply certify pre-existing ability?). We then dissect the university balance sheet to understand why tuition costs consistently outpace inflation. We explore how institutions use merit and need-based aid to maximize net tuition revenue while managing enrollment yields. We also examine the economic implications of the $1.7 trillion student debt crisis. The course culminates in an analysis of the existential threats facing higher education.

Applies to requirement(s): Social Sciences
Other Attribute(s): Writing-Intensive
Prereq: ECON-212.

ECON-349QF Advanced Topics in Economics: 'Quantitative Finance'

Not Scheduled for This Year. Credits: 4

This course uses computation and statistics to explore topics in modern quantitative portfolio and risk management. We cover models in financial econometrics, risk metrics, equity modeling, factor models, derivative pricing, and volatility surfaces, with emphasis on models that require numerical solutions. We learn to use a general purpose programming language to retrieve and explore data, implement models, and present results. The majority of class time is spent in the computer lab. No prior programming experience is required.

Applies to requirement(s): Social Sciences
Restrictions: This course is open to juniors and seniors
Prereq: ECON-215 and ECON-220.
Advisory: No prior programming experience is required.

ECON-349UT Advanced Topics in Economics: American Economic Utopias'

Not Scheduled for This Year. Credits: 4

Utopian visions are historical artifacts. Arguably, in articulating a vision of the perfect life, utopian thinkers and social experimenters always tell us something important about "the anxieties and discontents amidst which they are produced" as well as deep aspirations of their place and age (H.G Wells, 1939). We'll test that argument in this course by situating a selection of nineteenth and early twentieth century American utopian communities within the contexts of their economic and social history. The course will begin with a brief survey of utopian thought by key economic thinkers and end with a work of contemporary science fiction chosen by the class.

Applies to requirement(s): Social Sciences; Humanities
Other Attribute(s): Speaking-Intensive
Restrictions: This course is open to juniors and seniors
Prereq: 8 credits in the department at the 200-level or above.

ECON-295 Independent Study

Fall and Spring. Credits: 1 - 4

Restrictions: Contact instructor for independent study declaration form and signatures.
Instructor permission required.

ECON-395 Independent Study

Fall and Spring. Credits: 1 - 8

Restrictions: Contact instructor for independent study declaration form and signatures.
Instructor permission required.