Economics

An introductory course on how individual consumers and firms make decisions in line with their economic objectives. We analyze the workings of supply and demand in the determination of price, resource allocation, income distribution, and economic efficiency. Fall, Spring.

An introduction to macroeconomic terminology, concepts, and theories using historical context, quantitative tools, graphical analysis, and macroeconomic models. Course concepts are examined in a social and/or political context as appropriate. Fall, Spring.

This course focuses on a rational choice model as the underlying framework for behavior of consumers and firms and their interactions in various market structures. Examination of models requires extensive use of mathematical and graphical analysis. The effects of government policies, market power, and externalities on market efficiency are among the topics. Prerequisites: ECON 103. Fall, Spring.

Examines macroeconomic concepts and theories using historical context, quantitative tools, graphical analysis, and macroeconomic models. Critically explores competing schools of macroeconomic thought and their relative effectiveness at explaining macroeconomic phenomena. Culminates in construction and manipulation of the Mundell-Fleming open-economy model. Prerequisites: ISECON 104. Fall, Spring.

Economics survey course for nonmajors. Includes topics not covered in other listed courses, including current and historical economic issues. This course may not be used to satisfy requirements for the minor in Economics. May be repeated as topics change.

An opportunity for a qualified student to explore work in an area of individual interest, selected and pursued in consultation with a faculty member. Consent is required of the instructor who will supervise the independent study. May be repeated for a total of 8 credits.

An introduction to game theory and strategic interactions with cases drawn from economics, business, politics, sociology, psychology, international studies, and sports. Topics include prisoner's dilemma, Nash equilibrium, backward induction, signaling, mixed strategies, cooperative and noncooperative games, bargaining, conventions, "the tragedy of commons," evolutionary game theory, and behavioral critiques of rationality. Prerequisite: 24 credits in ISP, including ITW 101 and IQL 101. Fall.

This interdisciplinary course aims to provide an overview of the processes, politics and policies of economic development through a gender lens. The course examines the impacts of economic development policy on men and women and on gender relations in Africa, Asia and Latin America, in the context of a globalizing world economy. The course draws from the fields of economics, international relations and women's studies. Prerequisites: 24 credits in ISP including ITW 101 and IQL 101. Fall or Spring, Alternate Years.

Uses economic models to explore topics such as growing wage inequality, changing demand for children, occupational segregation by gender, economic assumptions behind affirmative action, and demand and supply of immigrant labor. Prerequisite: ECON 103 or ISECON 104. Fall.

Detailed evaluation of policy alternatives for environmental protection with regard to other economic goals. Prerequisite: ECON 103 or ISECON 104. Fall.

Contrasts property rights of New England with those in the Spanish Borderlands and the pre-civil war South. Spanish corporate law probed to explain why Native American communities retained land in the Spanish Borderlands, while tending to lose land in New England. Prerequisites: ECON 103 or ISECON 104. Spring, odd years.

Examines the philosophical debates that underlie modern economic models through texts by Adam Smith, Karl Marx, and John Maynard Keynes. Topics such as the relationship between competition and justice, prices and ethics, and free markets vs. government regulation will be explored. Prerequisite: One Integrative Studies course from ISECON, ISPOSC, IHHIST, or IHPHIL. Spring.

Topics include the basic problems underlying public revenues and public expenditures, budgetary theory and procedures, tax theory and reform, debt management policy, fiscal policy at both federal and state levels. Prerequisites: ECON 103 or ISECON 104. Spring.

This interdisciplinary course provides a broad but detailed overview of the Middle East region with a focus on patterns of economic and social transformation during the last century. The course material draws from the fields of Political Science, Sociology, History, Economics, and Women's and Gender Studies. Prerequisites: 24 credits in ISP, including ITW 101 and IQL 101. Spring.

A survey of direct and indirect finance, the determination of interest rates, asymmetric information, financial crises, and monetary policy. The course integrates economic theory and historical context into an exploration of the economics of money and banking. Competing schools of thought are considered as appropriate. Prerequisites: ECON 203 or ECON 204. Fall.

The theory of economic model building, both determinate and stochastic, together with the essential analytical methods. Where possible, these models are used to analyze current real-world economic conditions. Prerequisites: ECON 203 or ECON 204, and MATH 175 or MGT 202 or MATH 141 or PSYC 251. Fall.

Addresses questions of imperfect competition, the effect of market structure on behavior of firms, concentration and monopoly power, cartel formation, anti-competitive practices, and anti-trust issues. The course utilizes 'structure-conduct-performance' method in combination with institutional and historical approaches, focusing on case studies from various industries. Prerequisite: ECON 203. Spring, odd years.

The development of the U.S. economy from its colonial origins to modern times, including the slave system, ties with Europe, and the subsequent development of industry, banking, and commerce. Prerequisite: ECON 103 or ISECON 104. Occasionally.

Addresses the complex nature of economic development, critically evaluates available theories of development and underdevelopment, and considers the scope and limits of economic policies to aid development. Development ethics, import substitution, export orientation, impact of trade liberalization, demographics and gender are among the topics covered. Prerequisites: ECON 203 or ECON 204. Occasionally.

Applies advanced economic theory to global trade and finance through theories of comparative advantage, balance of payments accounts, fixed and flexible exchange rates, and currency crises. Prerequisite: ECON 203 or ECON 204. Spring, even years.

Topics not covered in other listed courses; for example, current and historical economic issues, student group research projects, and student and faculty initiated topics. Prerequisite: ECON 103, ISECON 104, and either ECON 203 or ECON 204.

A term project, scheduled for fall semester of senior year, involving original research of a subject approved by the Economics faculty. Prerequisites: ECON 203 and ECON 204. Fall.

Individual research on selected topics in economics under direction of a faculty member. Prerequisite: ECON 103, ISECON 104 and either ECON 203 or ECON 204, and permission of instructor. May be repeated for a total of 8 credits.