All economic activity is embedded in a framework of institutions including both formal laws and contracts, and informal norms and conventions. Institutions constrain individual behavior and thereby affect resource allocation, income distribution, learning, and economic growth. This course introduces recent approaches to the study of institutions in economics and political science. Particular emphasis will be placed on recent applications to economic history and development, and to theories of institutional stability and change.

Behavioral economics is an active research field, drawing together people from psychology, economics, political science, and management, among other fields.

A study of the analysis of quantitative data, with special emphasis on the application of statistical methods to economic problems.  A student may not receive credit for both ECON 360 and ECON 361.

Requisite: MATH 111, or equivalent and at least a "B" grade in ECON 111/111E or a "B-" in ECON 200-290, or equivalent. Limited to 50 students.  Fall semester: Professor Westhoff.  Spring semester: Professors Sims and Theoharides.

This course covers similar material to that covered in ECON 330 but is mathematically more rigorous and moves at a more rapid pace. A student may not receive credit for both ECON 330 and ECON 331.

Requisite: At least a "B" grade in ECON 111/111E or a "B-" grade in ECON 200-290, or equivalent, and MATH 121 or equivalent, or consent of the instructor. Spring semester. Professor Woglom.

This course develops macroeconomic models of the determinants of economic activity, inflation, unemployment, and economic growth. The models are used to analyze recent monetary and fiscal policy issues in the United States, and also to analyze the controversies separating schools of macroeconomic thought such as the New Keynesians, Monetarists and New Classicals. A student may not receive credit for both ECON 330 and ECON 331.

This course develops the tools of modern microeconomic theory and notes their applications to matters of utility and demand; production functions and cost; pricing of output under perfect competition, monopoly, oligopoly, etc.; pricing of productive services; intertemporal decision-making; the economics of uncertainty; efficiency, equity, general equilibrium; externalities and public goods. A student may not receive credit for both ECON 300 and ECON 301.

The economic development of the United States provides an excellent starting point for an understanding of both this nation’s history and its current economic situation. We begin with the reconstruction period after the Civil War and end with the Civil Rights Era and the War on Poverty. Throughout we provide an economic reading of the events and try to explain the conflicts and resolutions in economic terms.

Requisite: ECON 111/111E. Limited to 35 students. Spring semester. Professor Barbezat.

This course studies the monetary systems that facilitate exchange. Such systems overcame the limitations of barter with commodity monies such as gold, and gradually evolved into financial intermediaries that issue paper notes and bank deposits as money. Intermediaries in markets for insurance, debt, and equity are studied too. Also, the effects of financial markets on aggregate economic activity and the level and term structure of interest rates are studied. Not open to students who have taken ECON 423.

This course surveys the recent wave of financial globalization and assesses both its merits and potential risks. In particular, we will examine the most important potential benefit of financial globalization, an increased rate of economic growth that can be a powerful tool in alleviating poverty. We will analyze the theoretical arguments for a growth-enhancing effect of globalization and discuss the empirical evidence.

This course examines the determinants of and linkages between market structure, firm conduct, and industrial performance. Some of the questions that will be addressed include: Why do some markets have many sellers while others have only few? How and why do different market structures give rise to different prices and outputs? In what ways can firms behave strategically so as to prevent entry or induce exit of rival firms? Under what circumstances can collusion be successful? Why do firms price discriminate? Why do firms advertise?