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ECON 147: The Economics of Labor Markets

This course will cover the economics of labor markets. Topics include: determinants of employment and unemployment, with a special focus on understanding business cycle fluctuations. Job creation and job destruction. The effects of technological change on the labor market. Determinants of labor supply and the effects of universal basic income. Prerequisites: ECON 51 (Public Policy majors may take PUBLPOL 51 as a substitute for ECON 51), Econ 52, Econ 102B.
Terms: Spr | Units: 5 | UG Reqs: WAY-SI | Grading: Letter or Credit/No Credit
Instructors: Sorkin, I. (PI)

ECON 149: The Modern Firm in Theory and Practice

Examines the empirics on the economics, management and strategy of organizations (e.g. firms). Topics include the organization of firms in US and internationally. Management practices around information systems, target setting and human resources. Focus on management practices in manufacturing, but also analyze retail, hospitals and schools, plus some recent field-experiments in developing countries. Prerequisites: ECON 51 (Public Policy majors may take PUBLPOL 51 as a substitute for ECON 51), ECON 102B.
Terms: Win | Units: 5 | UG Reqs: WAY-SI | Grading: Letter or Credit/No Credit
Instructors: Bloom, N. (PI)

ECON 154: Law and Economics (PUBLPOL 106, PUBLPOL 206)

This course explores the role of law in promoting well-being (happiness). Law, among its other functions, can serve as a mechanism to harmonize private incentives with cooperative gains, to maintain an equitable division of those gains, and to deter "cheating" and dystopia. Law is thus essential to civilization. Economic analysis of law focuses on the welfare-enhancing incentive effects of law and its enforcement and on law's role in reducing the risks of cooperation, achieved by fixing expectations of what courts or the state will do in various futures. Prerequisite: ECON 51 or PUBLPOL 51.
Terms: Win | Units: 4-5 | UG Reqs: WAY-SI | Grading: Letter or Credit/No Credit
Instructors: Owen, B. (PI)

ECON 155: Environmental Economics and Policy

Economic sources of environmental problems and alternative policies for dealing with them (technology standards, emissions taxes, and marketable pollution permits). Evaluation of policies addressing local air pollution, global climate change, and the use of renewable resources. Connections between population growth, economic output, environmental quality, sustainable development, and human welfare. Prerequisite: ECON 50. May be taken concurrently with consent of the instructor.
Terms: Win | Units: 5 | UG Reqs: GER: DB-NatSci, WAY-SI | Grading: Letter or Credit/No Credit
Instructors: Goulder, L. (PI)

ECON 157: Imperfect Competition

The interaction between firms and consumers in markets that fall outside the benchmark competitive model. How firms acquire and exploit market power. Game theory and information economics to analyze how firms interact strategically. Topics include monopoly, price discrimination, oligopoly, collusion and cartel behavior, anti-competitive practices, the role of information in markets, anti-trust policy, and e-commerce. Sources include theoretical models, real-world examples, and empirical papers. Prerequisite: ECON 51 (Public Policy majors may take PUBLPOL 51 as a substitute for ECON 51).
Terms: Aut | Units: 5 | UG Reqs: WAY-SI | Grading: Letter or Credit/No Credit
Instructors: Larsen, B. (PI)

ECON 159: Economic, Legal, and Political Analysis of Climate-Change Policy

This course will advance students understanding of economic, legal, and political approaches to avoiding or managing the problem of global climate change. Theoretical contributions as well as empirical analyses will be considered. It will address economic issues, legal constraints, and political challenges associated with various emissions-reduction strategies, and it will consider policy efforts at the local, national, and international levels. Specific topics include: interactions among overlapping climate policies, the strengths and weaknesses of alternative policy instruments, trade-offs among alternative policy objectives, and decision making under uncertainty. Prerequisites: Econ 50 or its equivalent.
Terms: Win | Units: 5 | UG Reqs: WAY-SI | Grading: Letter (ABCD/NP)

ECON 160: Game Theory and Economic Applications

Introduction to game theory and its applications to economics. Topics: strategic and extensive form games, dominant strategies, Nash equilibrium, subgame-perfect equilibrium, and Bayesian equilibrium. The theory is applied to repeated games, voting, auctions, and bargaining with examples from economics and political science. Prerequisites: Working knowledge of calculus and basic probability theory.
Terms: Win | Units: 5 | UG Reqs: WAY-FR, WAY-SI | Grading: Letter or Credit/No Credit

ECON 164: The Law and Economics of the World Trading System

This course focuses on the purpose and design of the World Trade Organization (WTO). The course begins with a discussion of the economics of trade agreements and a brief introduction to the WTO as an institution. The course then considers a series of topics, which may include: the dispute resolution system; the choice between multilateral and regional or bilateral trade agreements; the international regulation of subsidies; the interface between international trade obligations and domestic regulation; safeguard measures; and trade preferences for developing countries in the WTO. Prerequisite: Econ 51.
Terms: not given this year | Units: 5 | UG Reqs: WAY-SI | Grading: Letter or Credit/No Credit

ECON 165: International Finance

We will explore models for analyzing a wide variety of issues in open-economy macroeconomics, such as the balance of payments; the determination of exchange rates; the relation between exchange rates and inflation; monetary and fiscal policy under flexible and fixed exchange rate regimes; macroeconomic gains (and pains?) from financial globalization; policy coordination and optimum currency areas; exchange rate crises; debt crises and the possibility of contagion. Our theoretical framework will structure our examination of important historical episodes and contemporary policy debates; the textbook will be supplemented with readings from recent scholarly articles and mainstream news sources. Active class participation is an important part of the course. Prerequisite: ECON 52.
Terms: Aut | Units: 5 | UG Reqs: WAY-SI | Grading: Letter or Credit/No Credit
Instructors: Tendall, M. (PI)

ECON 166: International Trade

Explaining patterns of trade among nations; characterizing the sources of comparative advantage in production and the prospect of gains from economies of scale. Enumerating and accounting for the net aggregate gains from trade, and identifying winners and losers from globalization. Analyzing the effects of international labor migration, foreign direct investment, outsourcing, and multinational companies. Strategic trade policy; international trade agreements; labor and environmental implications. We will review relevant theoretical frameworks, examine empirical evidence, and discuss historical and contemporary policy debates as covered in the popular press; active class participation is an important part of the course. Prerequisite: ECON 51 (Public Policy majors may take PUBLPOL 51 as a substitute for ECON 51).
Terms: Win | Units: 5 | UG Reqs: WAY-SI | Grading: Letter or Credit/No Credit
Instructors: Tendall, M. (PI)
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