ECON 111: Money and Banking
The primary course goal is for students to master the logic, intuition and operation of a financial system - money, financial markets (money and capital markets, debt and equity markets, derivatives markets), and financial institutions and intermediaries (the Central Bank, depository institutions, credit unions, pension funds, insurance companies, venture capital firms, investment banks, mutual funds, etc.). In other words, how money/capital change hands between agents over time, directly and through institutions. Material will be both quantitative and qualitative, yet always highly analytical with a focus on active learning - there will be an approximately equal emphasis on solving mathematical finance problems (e.g. bond or option pricing) and on policy analysis (e.g. monetary policy and financial regulation.) Students will not be rewarded for memorizing and regurgitating facts, but rather for demonstrating the ability to reason with difficult problems and situations with which they might not previously be familiar. Prerequisite:
Econ 50, 52. Strongly recommended but not required: some familiarity with finance and statistics (e.g.
Econ 135 or 140,
Econ 102A)
Terms: Aut, Sum
| Units: 5
| UG Reqs: WAY-SI
ECON 112: Financial Markets and Institutions: Recent Developments
The course covers innovations, challenges and proposed changes to the financial system. Topics include new mortgage products, foreclosure rules, securitization, credit ratings, credit derivatives, dealer networks, repo financing, implications for prudential regulation & monetary policy. Emphasis is on quantitative studies of these topics. Prerequisites:
Econ 52,
Econ 102B.
Terms: Aut
| Units: 5
Instructors:
Schneider, M. (PI)
;
Krivenko, P. (TA)
ECON 113: Economics of Innovation (PUBLPOL 354)
The role of innovation and technological change in long run economic growth and the sources of innovation in science, technology, and commercialization. Founding of new industries and new markets. Commercialization of new technologies. Incentives and organization of science. Entrepreneurship. Openness and proprietary/controlled innovation. Selected public policies toward invention and innovation. The industrial revolution, the shifting international location of innovation, and the information revolution. Focus of the second half of the course is on the newest research on the newest industries. Prerequisites: 51,102B.
Terms: Win
| Units: 5
| UG Reqs: WAY-SI
Instructors:
Bresnahan, T. (PI)
ECON 114: Economy and Economics of Ancient Greece (CLASSICS 183)
(Formerly
CLASSHIS 114.) Cultural and political background for Athens of the 5th and 4th century BC. Athenian economy of the 4th century BC. Economic ideas of Plato, Aristotle, and Xenophon. Pros and Cons of utilitarianism in light of the ethical theories of Plato and Aristotle. Economy and economics of ancient Greece will be compared to the same of ancient China. There is an interesting parallel.
Last offered: Winter 2015
| UG Reqs: GER:EC-GlobalCom, WAY-SI
ECON 116: American Economic History (AMSTUD 116, HISTORY 156)
The American economy from colonial times to the present, illustrating the role of history in economic life. Topics: U.S. economic development in global and comparative context; slavery as an economic system; emergence of American technology and business organization; economics of the Great Depression and the New Deal; post-World War II economic performance and social change; globalization, information technology, and inequality. Prerequisite: 1 or 1V.
Terms: Spr
| Units: 5
| UG Reqs: GER:DB-SocSci, WAY-SI, GER:EC-AmerCul
Instructors:
Wright, G. (PI)
;
Hodgson, C. (TA)
ECON 117: Economic History of the Middle East
The course integrates historical literature, economic theory, and econometric methods in studying the social and economic history of the Middle East. Topics include theories of stagnation of the Middle East, ancient and medieval institutions of the region, Colonization and modernization, the region's conversion to Islam, and socioeconomic differences between religious groups. The course introduces students to new data sources from the region, which remain so far unexplored, such as tax registers, population censuses, court records, and papyri documents. Prerequisites:
Econ 51, 52, 102B
ECON 118: Development Economics
The microeconomic problems and policy concerns of less developed countries. Topics include: health and education; risk and insurance; microfinance; agriculture; technology; governance. Emphasis is on economic models and empirical evidence. Prerequisites: 51, 102B.
Terms: Aut
| Units: 5
| UG Reqs: GER:EC-GlobalCom, WAY-SI
Instructors:
Dupas, P. (PI)
;
Baseler, T. (TA)
ECON 119: The Russian Economy (REES 219)
Brief introduction to the economic history of Russia, general overview of the modern Russian economy with analysis of its macroeconomic features and dynamics, industrial structure, and the major institutional features that are important for understanding Russian economic development. The period of transition from Soviet-type planned economy to a market economy and market reforms (1991-1998), the period of economic growth (1999-2007), and the economic development of Russia during the current global crisis of 2008-2010. Analysis of Russia⊃1;s social structure and social policy, labor markets, the regional structure of the economy, the role of the state, and major Russian industries (oil, metals, machinery). Emphasis on the specific institutional aspects that have shaped Russia's economic development.
Last offered: Winter 2013
ECON 120: Japan & the World: Innovation, Economic Growth, Globalization, and Int'l Security Challenges (EASTASN 153, EASTASN 253, POLISCI 115E)
This course introduces students to the economy, politics, and international relations of contemporary Japan. The course puts a particular emphasis on several emerging issues in Japan including innovation and economic dynamism, Japan's contributions to international peace and cooperation, and Japan's response to international economic and geopolitical challenges. The course will invite several guest instructors, each of whom is an expert on at least one of the issues that Japan faces today, to give lectures in addition to the main instructors. The guest lecturers will also be available outside of the classroom for further discussion during their stays at Stanford.
Terms: Spr
| Units: 3-5
ECON 121: Social Science Field Research Methods and Applications (PUBLPOL 120, PUBLPOL 220)
Fundamentals of the design, implementation and interpretation of social science field research. Building on a basic knowledge of statistical methods and economics, the course introduces observational field research and compares it with experimental field research. Significant attention devoted to explaining the details of research design as well as what can and cannot be learned through each type of field research. Emphasis placed on the theory of the design and analysis of statistical experiments. Topics include: sample size selection, power and size of statistical hypothesis tests, partial compliance, sample selection bias and methods for accounting for it. Development of critical reading skills emphasized through class discussions of academic journal articles and popular media accounts of field research. Examples of best practice field research studies presented as well as examples of commonly committed errors; students are expected to articulate and challenge or defend underlying assumptions and the extent to which real-world research matches up with concepts covered in lecture. Practical aspects of field work, including efficient and cost-effective data collection, teamwork, field team supervision, budget management, and common ethical considerations. Grading based on weekly problem sets that focus on developing data analysis skills using statistical software, a midterm examination, and a final project in which students write a detailed research proposal. Students can also apply to participate in a course project designing a field research project and implementing it in a developing country context during four weeks of the summer. Prerequisites: either
ECON 1 and either
STATS 60 or
Econ 102A or equivalent.
Terms: Win
| Units: 5
Instructors:
Wolak, F. (PI)
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