Theoretical analysis of consumer and firm behavior, the role of prices in an economic system with various market structures, interrelationships of product and factor markets in a general equilibrium model, and the implications of the price system for resource allocation and economic welfare.

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.

Statistical procedures are powerful tools for analyzing and interpreting findings and are necessary for accurate reading and understanding of research findings. This course provides an introduction to the most frequently encountered techniques for describing data and making inferences in psychological research. A variety of computer applications are used.

Introduction to the Marxian theory of capitalism, as presented in the three volumes of Capital. Marxian theory is applied to analyze the causes of contemporary economic problems, such as unemployment and inflation, and the effectiveness of government policies to solve these problems. Comparisons made between Marxian theory and mainstream macro- and microeconomics.