Economics 302 — Industrial Organization and Public Policy Alternate years
Studies the theoretical and empirical relationships among market structure, conduct and performance in American industry. Th e knowledge gained is used to evaluate U.S. antitrust policy. A number of industry case studies and landmark court decisions are read. Prerequisite: Economics 255. One unit.
Economics 303 — Economics of Human Resources Alternate years
Analyzes the labor market in light of recent developments in economic theory. Th e following areas are ex- plored: labor supply studies, human capital theory and marginal productivity theory. Interference with the market through legislation, discrimination and labor unions and the interactions between the labor market and other sectors of the economy are considered. Prerequisite: Economics 255. One unit.
Economics 304 — Law and Economics Annually
Examines the relative effi ciency of alternative legal arrangements using microeconomics as the basic investi- gative tool. Core of the course consists of a thorough analysis of the common law. Special emphasis is given to the areas of property, contract, liability and criminal law. Prerequisite: Economics 255. One unit.
Economics 305 — Economic Growth and Development Alternate years
Examines the theoretical and institutional factors infl uencing economic growth. Attention is given to various models of economic growth, the relationships among social, political and economic institutions and the pat- tern of economic growth, the optimal public policy mix for economic growth and special problems of growth faced by the developing nations. Prerequisites: Economics 255, 256. One unit.
Economics 307 — Th eory of International Trade Annually
Examines the causes and consequences of the trade of goods and services among nations. Attention is given to the principle of comparative advantage, the Ricardian model of trade, the factor endowments theory of trade, the specifi c factors model, new theories of trade, the causes and consequences of trade restrictions, economic growth and trade, international factor movements and economic integration. Prerequisites: Eco- nomics 255, 256. One unit.
Economics 308 — International Macroeconomic Th eory and Policy Annually
Examines the macroeconomic and fi nancial relations among nations. Attention is given to the international transmission of fi scal and monetary policies, foreign exchange markets in the short run and long run, choice of exchange rate regimes, balance of payments accounting and interest rate adjustment and arbitrage. Pre- requisites: Economics 255, 256. One unit.
Economics 309 — Comparative Economic Systems Annually
First segment develops an analytical framework for the comparison of economic systems. Second segment uses this framework to examine and compare the economic systems of various countries including the United States, Germany, France, Japan, China, the former Soviet Union and other East European states. Prerequisites: Economics 255, 256. One unit.
Economics 310 — Experimental Economics Alternate years
Emphasizes the interplay between theoretical models and laboratory observation in the development of microeconomics. Topics might include experimental methods, preference and choice, risk and uncertainty, expected utility maximization, game theory, industrial organization, search, bargaining, auctions, asset mar- kets, asymmetric information, public goods and voting. A number of classroom experiments are conducted. Prerequisites: Economics 249, 255. One and one-quarter units.
Economics 312 — Monetary Th eory Alternate years
Th is course builds a model of the fi nancial sector of the economy, uses it to gain an understanding of the workings of the fi nancial system, and makes predictions of the eff ects of events on the fi nancial system and economy as a whole. Particular emphasis is placed on understanding the workings of the Federal Reserve System and monetary policy. Th us, this course provides an understanding of the role and measurement of money; the theories of money demand and money supply; the workings of the banking system; interest rate determination; how prices of stocks, bonds and other assets are determined; and the role the fi nancial system plays in the macroeconomy. Prerequisites: Economics 255, 256. One unit.
Economics 313 — Mathematics for Economists Alternate years
Augments the mathematical backgrounds of students interested in pursuing a more quantitative approach to economics and business. Emphasis is on linear systems, matrix algebra, diff erential vector calculus and optimization. Topics may also include game theory, integral calculus and dynamic analysis. Mathematical methods are illustrated with various economic applications. Prerequisites: Economics 255. One unit.
Economics 314 — Econometrics Annually
Studies statistical methods used to estimate and test economic models. After a review of basic probability and statistics, the method of ordinary least squares regression is examined in detail. Topics include the Gauss-Markov theorem, inference, multicollinearity, specifi cation error, functional forms, dummy variables, heteroskedasticity and autocorrelation. Simultaneous equations and qualitative dependent variables may also be considered. A quantitative research paper is required. Prerequisites: Economics 249, 255. One unit.
Economics 316 — Economics of Peace, Confl ict and Defense Annually
Economic principles are applied to the study of international and regional confl icts and predator/prey re- lationships in an economy. Topics include war, confl ict resolution, arms races, arms control, ethnic confl ict, terrorism, the arms trade, defense industry issues and attack/defense behavior in the economic realm. Pre- requisite: Economics 255. One unit.
Economics 320 — History of Economic Th ought Annually
Surveys the thoughts and ideas of philosophers and economists throughout history who attempted to un- derstand the workings of what we now call the economy. A long time span is covered, going briefl y as far back as the ancient Greek writers, moving through the Scholastics, Mercantilists and Physiocrats, but with a particular focus on the pivotal contributions of the Classical writers including Adam Smith, David Ricardo and Karl Marx. Neoclassical thought is contrasted with institutional and historical critics, leading to the great debate between capitalism and socialism. Changes in macroeconomic theory associated with John Maynard Keynes, the post-Keynesian views of macro and the more modern formulation of microeconomics with its emphasis on econometric analysis round out the course. Prerequisites: Economics 255, 256. One unit.
Economics 325 — Public Economics Alternate years
Surveys theories of public expenditure and taxation and delves into specifi c topics such as health care, social insurance, education, tax reform, fi scal federalism and defi cit fi nance. Prerequisites: Economics 255, 256. One unit.
Economics 326 — Economics of the Arts Annually
Examines the markets for the performing and visual arts in the United States. Th e course begins by utilizing economic tools to analyze supply and demand in these markets, and then covers a number of special topics. Issues considered include copyrights, ticket scalping, performer wages and labor unions, government subsi- dization of the arts, auctions, art as an investment and the political economy of the arts sector. Prerequisites: Economics 249, 255. One unit.
76/
Economics 400 — Directed Readings in Economics Annually
A program in reading and research in a specifi c topic open to majors with a minimum GPA of 3.25. Permis- sion of the instructor is required. One unit.