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ECON 1A: Introductory Economics A

The economic way of thinking and the functioning of a market economy. The behavior of consumers and firms, markets for goods and inputs, and principles of international exchange. Applications and policy issues in economics.
Terms: Aut, Win, Sum | Units: 5 | UG Reqs: GER:DB-SocSci, WAY-SI

ECON 1B: Introductory Economics B

Aggregate economic relationships, including output, employment, inflation, interest rates, and exchange rates. Short-run fluctuations and long-run growth. Issues in monetary and fiscal policy. Prerequisite: 1A.
Terms: Win, Spr, Sum | Units: 5 | UG Reqs: GER:DB-SocSci, WAY-SI

ECON 11N: Understanding the Welfare System

Preference to freshmen. Welfare reform legislation and the devolution revolution. The transfer of responsibility for antipoverty programs to the states. How recent reforms change the welfare system and who is likely to be affected. Food stamps, AFDC, TANF, SSI, and Medicaid. Income transfer programs such as earned income tax credit and income taxes, and labor market regulations such as minimum wages and overtime rules. Economic principles to understand the effectiveness of these programs and their consequences on the behavior of families. Pre- or corequisite: ECON 1. Recommended: basic understanding of labor markets, taxes, and transfers.
Terms: Aut | Units: 2 | UG Reqs: WAY-SI
Instructors: MaCurdy, T. (PI)

ECON 17N: Energy, the Environment, and the Economy

Preference to freshmen. The relationship between environmental quality and production and consumption of energy. Can environmentally-friendly energy production and consumption compete with conventional sources? How to estimate and compare environmental impact costs of nonrenewable sources such as fossil fuels and nuclear power versus renewable sources such as solar and wind power. Implicit subsidies in conventional energy sources and the environmental costs of these subsidies. Regulatory and legal barriers to more environmentally friendly energy sources.
Terms: Spr | Units: 2 | UG Reqs: WAY-SI
Instructors: Wolak, F. (PI)

ECON 18N: Industrial Revolution: History, Ethics & Consequences of Mod. Economic Development (HISTORY 35N)

Explores the enduring controversies surrounding the transformation of the British economy in the 18th century. Using iron, coal, steam, and cotton as examples, we will explore the historical and economic debates about its reach, speed, and relationship to other aspects of British and world history. Topics include: the social, political, environmental, and cultural consequences in Britain and the expanding British empire as well as an ethical assessment of the Industrial Revolution and the lessons it has offered for the theory and practice of economic development ever since. Readings will include historical and economic literature as well as contemporary accounts.
Terms: Spr | Units: 5 | UG Reqs: GER:DB-SocSci
Instructors: Satia, P. (PI)

ECON 19N: The Economics of Cities

In most countries of the world, urban areas tend to have the highest per-worker productivity and generate most of the economic output and economic innovation. In this class, we will explore what economics has to say about the costs and benefits of urbanization. We will discuss a number of classic topics in urban economics, including agglomeration advantages, human capital externalities, the economics of congestion, and efficient economic development policies. Prerequisite: Econ 1A
Terms: Spr | Units: 2
Instructors: Moretti, E. (PI)

ECON 20SI: Sustainability from the Economic Perspective

In spite of its apparent universal popularity, environmental sustainability is a concept that is impossible to define objectively. Nevertheless, many aspects of economic activity reduce the quality of environmental services available to consumers. The local and global pollutants that result from the production and consumption of fossil fuels is perhaps the most highly publicized example of this phenomenon. However, virtually all aspects of modern economic activity degrade some aspect of available environmental services. Consequently, a major challenge to increasing the share of the world's population with a modern standard of living is the need to balance the adverse impacts of modern economic activity on all of the dimensions of environmental services. This course will analyze the full range of mechanisms available to manage these tradeoffs. The course will focus on solutions from business, government, and the non-profit sectors. Guest speakers will include venture capitalists, consultants, government policy makers, and members of the non-profit community.
Terms: Win | Units: 1-2
Instructors: Wolak, F. (PI)

ECON 50: Economic Analysis I

Individual consumer and firm behavior under perfect competition. The role of markets and prices in a decentralized economy. Monopoly in partial equilibrium. Economic tools developed from multivariable calculus using partial differentiation and techniques for constrained and unconstrained optimization. Prerequisites: 1A and MATH 51(must be taken for a letter grade).
Terms: Aut, Spr, Sum | Units: 5 | UG Reqs: WAY-SI, WAY-FR, GER:DB-Math

ECON 51: Economic Analysis II

Neoclassical analysis of general equilibrium, welfare economics, imperfect competition, externalities and public goods, intertemporal choice and asset markets, risk and uncertainty, game theory, adverse selection, and moral hazard. Multivariable calculus is used. Prerequisite: 50.
Terms: Aut, Win, Sum | Units: 5 | UG Reqs: WAY-FR, WAY-SI

ECON 52: Economic Analysis III

Long-run economic growth and short-run economic fluctuations. Focus on the macroeconomic tools of government: fiscal policy (spending and taxes) and monetary policy, and their effects on growth, employment, and inflation. Prerequisites: 1B, 50.
Terms: Win, Spr, Sum | Units: 5 | UG Reqs: WAY-SI
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