Application of economic analysis to environmental issues. Topics include: relationships between growth, development, and the environment; effects of externalities on market outcomes; market and nonmarket solutions to environmental problems; cost-benefit and risk-benefit analysis; efficient and equitable use of depletable and nondepletable natural resources.

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.

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.

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.

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.

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.

We analyze the challenges and opportunities of globalization for the prospects of economic development in latecomers. We study the debates among orthodox and heterodox economists about the development impact of international trade, foreign direct investment and the globalization of production chains, financial capital flows, and the structure of global governance in these areas. We explore how the rise of China impacts other developing countries. We include case studies, debates and simulations.

Study of the historical development of economics by reading the original works of the 'great masters': Smith, Ricardo, Marx, Marshall, and Keynes. Also examines the influence of the social context in which these theories were developed. Provides a historical perspective on modern microeconomics and macroeconomics - how these modern theories are similar to and different from earlier theories.