Economics Courses
ACCT 215 Fundamentals of Financial Accounting
The instructional objective is to provide students with an understanding of the core concepts that are fundamental to the use of accounting from the perspective of a third party user, e.g., investor, lender, or regulatory agency. A decision-making approach is employed which involves critical evaluation and analysis of information presented. Important analytical tools are integrated through the course. As a result, students are introduced to accounting in a way that demonstrates the importance of the subject to society and its relevance to their future careers. (Credit, full course.) Heinemann
ACCT 216 Fundamentals of Managerial Accounting
The course focuses on the internal use of accounting information in the formulation of management decisions. Students learn how financial systems can add value to a company. Different costing systems, budgetary planning, and incremental analysis are among the course contents. A field trip is included. Prerequisite: Accounting 215. (Credit, full course.) Heinemann
ECON 101 Introduction to Economics
Explores essential concepts for understanding modern economic activity and economic issues involving public policy. (Credit, full course.) Ford
ECON 113 Economics of Social Issues
Through an issues-oriented approach to the study of economics, basic economic concepts and principles are introduced and developed through the study of various social issues such as human misery, government control of prices, higher education, energy, crime, pollution, "bigness," trade protection, health, discrimination, unemployment, inflation, and the national debt. (Credit, full course.) Mohiuddin
ECON 301 Money and Banking
A study of the American monetary and banking systems, with particular attention to commercial banking, the Federal Reserve System, monetary theory, and monetary policy. (Credit, full course.) Ott, Jr.
ECON 304 Labor Economics
This course uses microeconomic theory to analyze the economics of work. The demand for and the supply of labor are the basis for analyzing a wide range of observed outcomes in the labor market, including wage determination and employment. Topics with important policy implications include human capital and educational investments, economics of the highly paid, unions, immigration policy, fringe benefits, unemployment insurance, race and gender discrimination, minimum wage policies, welfare policy, and the distribution of income. (Credit, full course.) Williams
ECON 305 Microeconomic Theory
Studies the behavior of consumers, firms, and industries, and the conditions of equilibrium in output/input markets and in the economy as a whole. (Credit, full course.) Gottfried, St-Pierre
ECON 306 Macroeconomic Theory
The theory of economic growth, employment, and the price level. (Credit, full course.) Mohiuddin
ECON 307 Income, Distribution, Poverty and Public Policy
The nature, determinants, and consequences of income as it is distributed in the United States, with particular emphasis on problems and policies relating to the poor. Prerequisite: Econ 101. (Credit, full course.) Staff
ECON 309 Women in the Economy
This study of the relative economic status of women and men in the U.S., and how it has changed over time, focuses on sex differentials in earnings, occupational distribution, labor force participation and unemployment rates, levels and types of education and experience. Includes an analysis of the reasons for such differentials (e.g., the motivations for discrimination), their history, and cross-cultural variations in female status (with particular emphasis on Africa and Asia). Analyzes the effect of law and policy in the U.S. on the status of women. (Credit, full course.) Mohiuddin
ECON 310 Economic Development
The course examines the principles and concepts of development and focuses on major development problems and policies, both domestic and international. Topics of analysis include theories of economic growth and development, poverty and income distribution, population, human capital, agricultural and rural development, and international trade. (Credit, full course.) Gottfried, Mohiuddin
ECON 312 Health Economics
This course examines the nature of demand for different kinds of health services, the supply of health services, the market structure of the health care industry, market failures in the provision of health care services, alternative health care delivery systems, and related policy issues. Prerequisite: Econ 101. (Credit, full course.) Ford
ECON 315 Industrial Organization and Public Policy
Discusses the economic performance of firms and industries; the importance of industrial structure in determining performance; the problem of monopoly, business behavior, and performance; public policies to promote competition; and public regulation. (Credit, full course.) St-Pierre
ECON 326 Growth Theory
This course examines classical and modern theories of long run economic growth. Emphasis is placed on the comparative experience of developed and less developed countries. Relevant topics include capital formation, investment, technology, deficits, graft, and institutional analysis. Prerequisite: Econ 101. (Credit, full course.) St-Pierre
ECON 329 Law and Economics
This course examines how legal rules and institutions create economic incentives and affect behavior. The course is organized around the three major areas of the common law — property, tort, and contract law — and criminal law. Both a jurisprudential and an economic theory of the law are introduced and developed. Economic analysis is used to predict the behavior and outcomes that result from various legal rules and to evaluate which legal rules are "best" in terms of economic efficiency. (Credit, full course.) Williams
ECON 330 Dynamics of the Financial System
Considers origins and performance of the dual and central bank system of the United States with particular emphasis on the postwar financial experience and financial innovation relative to financial crises and panics. Also contemplates necessary changes, developments, and theories for the future. Prerequisite: Econ 301. (Credit, full course.) Staff
ECON 331 Public Finance and Fiscal Policy
Examines the economic function of government: allocation of resources, distribution of income, stabilization. Revenue structure: federal, state, and local taxation. Government expenditure: the federal budget, criteria for evaluating government expenditures, specific programs. Fiscal policy. (Credit, full course.) Staff
ECON 335 Environmental Economics
A study of the causes of and solutions for pollution and environmental degradation weighs the value of ecosystems and their role in sustaining economic activity. Applies cost/benefit analysis to environmental issues and provides an introduction to economics of nonrenewable and renewable resources such as mines, forests, and fish. (Credit, full course.) Gottfried, Ford
ECON 340 Introduction to Mathematical Economics
Studies the mathematical formulation of economic theory by examining selected topics drawn from micro and macroeconomic models, general equilibrium analysis, input/output analysis, static and dynamic analysis, and linear programming. (Credit, full course.) Staff
ECON 341 Game Theory
An introduction to the field of game theory — that is, study of strategic interactions in which participants take into account both the realized and anticipated behavior of other participants in determining their own behavior. Applications are drawn from the labor market, oligopoly, global politics, and everyday life. Prerequisite: Econ 101 and Math 101. (Credit, full course.) St-Pierre
ECON 343 International Trade
This course studies international trade theories and trade policy. Topics include trade models, the gains from trade, determinants of the terms of trade and income distribution, global factor movements, protectionist policy, and trade agreements. Prerequisite: Econ 101. (Credit, full course.) Theyson
ECON 344 International Finance
This courses studies financial aspects of growth, income and price level determination in open economies. Topics include the balance of payments, exchange rate determination, international payment adjustment mechanisms, capital flows, and international macroeconomic policy. Prerequisite: Econ 101. (Credit, full course.) Theyson
ECON 345 Economic Development in China
A study of the nature of the "development" problem and of policy issues facing the heterogeneous category of developing economies focuses on the contemporary Chinese economy, in transition and undergoing reform. Applies theoretical and fieldwork-based analysis to issues pertaining to agricultural and industrial development, income distribution and poverty alleviation, privatization and development of the market, labor markets and human capital formation, women's empowerment, and international trade. This course is offered as part of the Summer in China Program. (Credit, full course.) Mohiuddin
ECON 346 Introduction to Asian Development
The course offers an introduction to economic development process in Asian countries, with focus on similar and diverse characteristics of developing Asian countries as well as unique characteristics of Chinese development. Emphasis is placed on the historical, cultural, and political context of economic development policies in China, as background preparation for students doing a fieldwork-based, summer trip to China. The course trains students to gather primary data through individual interviews and focus group discussions they will undertake with employees and managers of state-owned enterprises, joint ventures, private businesses, and Chinese Communist Party members. Prerequisite: Econ 101 or permission of instructor. (Credit, half course.) Mohiuddin
ECON 347 Microfinance Institutions in South Asia
The course provides an overview of the microfinance industry: its origins, evolution, theoretical underpinnings, and empirical evidence. It focuses on both the tools of microfinance operation such as financial management and lending methodologies, and on the basic issues and policy debates in microfinance, such as impact assessment, poverty targeting and measurement, and sustainability. The course cannot be used in fulfillment of the general distribution requirement in social science. This course is being offered as part of the Summer in South Asia Program. (Credit, full course.) Mohiuddin
ECON 348 Social Entrepreneurship
This course focuses on entrepreneurial approaches to solving social problems, and explores the ways in which such approaches can fundamentally change society. The course examines best practices of successful Social Sector Institutions such as the Grameen Bank and innovative not-for-profit ventures. It also confronts theoretical issues that inform these practices — issues such as community accountability and clients‚ gender, connected to practices such as product development and risk management. A variety of governance structures (NGOs, cooperatives, and for-profit ventures) and service delivery strategies (individual and group, peer microlending, venture capital) are considered. International in scope, this course examines the replication of successful models across differing economies. This course has the attribute of International and Global Studies. Prerequisite: Econ 101. (Credit, full course.) Mohiuddin
ECON 349 Selected topics in Microfinance and Social Entrepreneurship
The course provides an introduction to microfinance and social entrepreneurship. It focuses on the concept, issues, and success of the microfinance movement around the world, particularly with respect to the Grameen Bank of Bangladesh. The course also addresses the social entrepreneurship movement and discusses some leading global social entrepreneurs, as background preparation for student planning a fieldwork-based summer trip to Bangladesh. The course trains students to gather primary data through individual interviews and focus group discussions they will undertook with poor borrowers of the Grameen Bank and other microfinance institutions. Prerequisite: Econ 101 or permission of instructor. (Credit, half course.) Mohiuddin
ECON 352 Proseminar I
Designed to complement the student’s internship experience, this seminar features a selected topic involving the study of business and markets such as business history or philosophical perspectives on capitalism. The seminar includes instruction designed to help students develop practical business skills. Prerequisite: Econ 101. Open only to Carey Fellows. (Credit, full course.) Staff
ECON 353 Proseminar II
A continuation of Proseminar I. Prerequisites: Econ 101 and Econ 352. Open only to Carey Fellows. (Credit, full course.) Staff
ECON 360 Finance I
This course addresses the concepts underlying corporate finance and equity markets. Topics include capital budgeting, capital structure, dividend policy, security valuation and efficient market theory. Prerequisites: Stat 204 and Econ 101. A student may not earn credit for this course and Econ 302. (Credit, full course.) Ott, Jr.
ECON 361 Finance II
This course examines investment theory and fixed income securities. Topics include portfolio theory, asset pricing models, performance evaluation, and valuation of debt and risk associated with fixed income instruments. Prerequisite: Econ 302 or Econ 360. A student may not earn credit for this course and Econ 320. (Credit, full course.) Ott, Jr.
ECON 362 Finance III
This course analyzes investments and derivative markets. Topics include hedge funds, real estate investments, options, futures, and swaps. Prerequisite: Econ 320 or Econ 361. (Credit, full course.) Ott, Jr.
ECON 381 The Political Economy of Sustainable Development (Also Political Science 381)
This course examines the different configurations of market, state, and cultural forces presented by societies as they respond to the challenges associated with attempting to meet present needs and demands without compromising their natural and social base for meeting the needs of the future. Theoretical discussions are combined with case studies. Students taking this course may not take PolS 461. (Credit, full course.) Gottfried, Ford
ECON 401 History of Economic Thought
Presents economic thought throughout history, but primarily the classical, Marxian, neoclassical, and Keynesian schools. Leading writers are considered chronologically, with emphasis on Smith, Ricardo, Malthus, Marx, J.S. Mill, Marshall, and Keynes. (Credit, full course.) Staff
ECON 410 Research Seminar in Economics
An introduction to specific fields of literature and the empirical methods of research used to produce that literature. The first half of the semester is devoted to learning econometric modeling methods and the second half to applying these methods. All students are required to produce a major paper based on original empirical research. This course is restricted to senior economics majors. Prerequisites: Econ 333 and senior standing. (Credit, full course.) Staff
ECON 411 Policy Seminar in Economics
This course examines major streams of thought concerning the roles that government, markets, and other institutions should play in bringing about the maximum well being of society. Using professional economics literature, students then apply these ideas to a variety of policy issues. Prerequisite: This course is restricted to senior economics majors. (Credit, full course.) Staff
ECON 444 Independent Study
Advanced work for selected students. May be repeated. Particularly recommended for candidates for honors in economics. Also open to students other than economics majors. (Credit, full course.) Staff
