Admission to special studies is by permission of the department, normally for majors who have had four semester courses in economics above the introductory level. Students contemplating a special studies should read the guidelines for special studies in the department's "Guidebook for Prospective Majors" on the department's webpage: www.smith.edu/economics.

Admission to special studies is by permission of the department. (E) Variable credit 1-4.

Brain implants, embryo selection, self-driving cars, nanotechnology, robot nurses, virtual teachers, cognitive enhancing drugs and artificial general intelligences are among the technologies that might have a large impact on our economy over the next few decades. This seminar uses the tools of microeconomics to explore the potential effects of these and other possible technologies and to explain how economic incentives shape the types of technologies businesses develop. Prerequisite: ECO 250. (E)

The causes and consequences of income and wealth inequality. Social class and social mobility in the U.S. The role of IQ and education. The distributional impact of technical change and globalization. Is there a "trade-off" between equality and economic growth? The benefits of competition and cooperation. Behavioral and experimental economics: selfishness, altruism and reciprocity. Fairness and the dogma of economic rationality. Does having more stuff make us happier? Prerequisites: ECO 220 and 250.

This seminar will explore the similarities and differences between professional and college sports. The economic factors that condition the evolution and operation of college sports will be examined in detail, as will the relationship between gender equity (as prescribed by Title IX) and overall intercollegiate athletic programs.

An examination of international monetary theory and institutions and their relevance to national and international economic policy. Topics include mechanisms of adjustment in the balance of payments; macroeconomic and exchange-rate policy for internal and external balance; international movements of capital; and the history of the international monetary system: its past crises and current prospects; issues of currency union and optimal currency area; and emerging markets. Prerequisite: ECO 253.

An investigation of the economic foundations for investment, financing, and related decisions in the business corporation. Basic concerns and responsibilities of the financial manager, and the methods of analysis employed by them is emphasized. This course is designed to offer a balanced discussion of practical as well as theoretical developments in the field of financial economics. Prerequisites: ECO 220, 250, MTH 111.

An analysis of the microeconomic and macroeconomic issues in the 2012 Presidential Election. Expected issues include health care, Social Security and other entitlement programs, taxes, energy policy, immigration, and the role of government in the economy. Prerequisites: ECO 250, ECO 253 and ECO 220 or its equivalent. (E)

An examination of the combination of economists' models and psychologists' understanding of human behavior. This combination fosters new understanding of consumers' and firms' decision-making. Topics include decisions motivated by issues of fairness or revenge (rather than self-interest); decisions based on the discounting of future happiness; decisions based on individuals' incorrect beliefs about themselves (such as underestimating the power of bad habits or cravings). This new understanding has implications for economic, political, legal, and ethical issues.

Builds a cohesive theoretical framework within which to analyze the workings of the macroeconomy. Current issues relating to key macroeconomic variables such as output, inflation and unemployment are examined within this framework. The role of government policy, both in the short run and the long run, is also assessed. Prerequisite ECO153, MTH 111 or its equivalent.