printer friendly pageECON 1: Principles of Economics
This is an introductory course in economics. We will cover both microeconomics (investigating decisions by individuals and firms) and macroeconomics (examining the economy as a whole). The primary goal is to develop and then build on your understanding of the analytical tools and approaches used by economists. This will help you to interpret economic news and economic data at a much deeper level while also forming your own opinions on economic issues. The course will also provide a strong foundation for those of you who want to continue on with intermediate microeconomics and/or intermediate macroeconomics and possibly beyond.
Terms: Aut, Win, Spr, Sum
| Units: 5
| UG Reqs: WAY-SI, GER:DB-SocSci
Instructors:
Clerici-Arias, M. (PI)
;
Duggan, M. (PI)
;
Taylor, J. (PI)
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Instructors:
Clerici-Arias, M. (PI)
;
Duggan, M. (PI)
;
Taylor, J. (PI)
;
Araya Vergara, D. (TA)
;
Behan, K. (TA)
;
Cao, Y. (TA)
;
Ding, H. (TA)
;
He, Y. (TA)
;
Ju, Z. (TA)
;
Kee, Y. (TA)
;
Light, J. (TA)
;
Maya, L. (TA)
;
Storms, E. (TA)
;
Tutuncu, C. (TA)
;
Wang, L. (TA)
;
Xue, Q. (TA)
;
Yang, D. (TA)
;
Yi, L. (TA)
;
Yoon, J. (TA)
;
Zhang, S. (TA)
;
Zuckerman, D. (TA)
ECON 1V: Principles of Economics
The course covers all of economics at a basic level. It stresses the key idea that economics is about making purposeful choice with limited resources and about people interacting with other people as they make these choices. Most of those interactions occur in markets, and the course is mainly about markets, including labor markets and capital markets. We show why free competitive markets can improve people's lives and how they have removed millions from people from poverty, with many more, we hope, to come; we show how monopolies and environmental spillovers cause market failures; we show how to remedy these failures through government policy; and we explain why government failure can also be a problem. The overall goal is to use economics to understand the big issues of the day including economic growth, inequality, crises, and unemployment. The goal of this course is to learn how to use economic analysis to reach reasoned conclusions about the big issues of the day from the workings and benefits of a market economy to the causes of economic growth, financial crises, and unemployment.
Last offered: Spring 2020
| UG Reqs: GER:DB-SocSci, WAY-SI
ECON 4: Democracy Matters (PHIL 30, POLISCI 42, PUBLPOL 4)
Should the U.S. close its border to immigrants? What are the ramifications of income inequality? How has COVID-19 changed life as we know it? Why are Americans so politically polarized? How can we address racial injustice? As the 2020 election approaches, faculty members from across Stanford will explore and examine some of the biggest challenges facing society today. Each week will be dedicated to a different topic, ranging from health care and the economy to racial injustice and challenges to democracy. Faculty with expertise in philosophy, economics, law, political science, psychology, medicine, history, and more will come together for lively conversations about the issues not only shaping this election season but also the nation and world at large. There will also be a Q&A following the initial discussion. Attendance and supplemental course readings are the only requirements for the course.
Terms: Aut
| Units: 1
Instructors:
Abramitzky, R. (PI)
ECON 5: Frontiers in Economic Research and Policy
Interested in exploring how economics is used in professional, policy, and research settings? This course will feature weekly presentations from Stanford faculty and scholars and economists in government, non-profit, and business to demonstrate how economic analysis can be applied to a wide range of practical and policy problems. May be repeated for credit. Pre-requisites: none.
Terms: Win
| Units: 1
| Repeatable
4 times
(up to 4 units total)
Instructors:
Makler, C. (PI)
ECON 10: Microcosm of Silicon Valley and Wall Street
Seminar in applied economics with focus on the microcosm of Silicon Valley, how growth companies are originated, managed and financed from start-up to IPO. Round-table discussion format. Applicable to those students with an interest in technology company formation, growth and finance including interaction with Wall Street. Enrollment limited to 10 juniors, seniors and co-term students. Application found at
https://economics.stanford.edu/academics/undergraduate-program/forms.
Last offered: Spring 2020
ECON 11N: Understanding the Welfare System
Welfare-reform legislation passed by the federal government in the mid-1990s heralded a dramatic step in the movement that has been termed the devolution revolution, which is again being discussed in the context of healthcare reform. The centerpiece of devolution is the transfer of more responsibilities for antipoverty programs to the states. We will explore the effects of these reforms and the role that devolution plays in the ongoing debates over the designs of programs that make up America's social safety net. In addition to discussing conventional welfare programs (e.g., Medicaid, food stamps, TANF, SSI) and other governmental policies assisting low-income families (EITC, minimum wages), we will examine the trends in governmental spending on anti-poverty programs and how our nation defines poverty and eligibility for income support. We will apply economics principles throughout to understand the effectiveness of America's antipoverty programs and their consequences on the behavior and circumstances of families. Prerequisites: A basic understanding/knowledge of introductory economics is recommended.
Last offered: Autumn 2019
| UG Reqs: WAY-SI
ECON 12: Economics of Artificial Intelligence
How will artificial intelligence and machine learning reshape the economy? This course examines the prospective impact of AI on jobs, wages, inequality, industrial power, and global competition. We begin by examining the effects of previous technological revolutions (from the Industrial Revolution to the digital age) on living standards, relative power of labor and capital, and organization of economic activity. We then review the tools and methods economists use to analyze the potential consequences of AI and machine learning. We conclude by assessing priorities for government policy, including opportunities for harnessing AI to create a more prosperous and equitable society.
Terms: Win
| Units: 1
ECON 14: Navigating Financial Crises: From Emerging Markets to COVID-19 (PUBLPOL 14)
What causes financial crises? What are the keys to anticipating, preventing, and managing disruptions in the global financial system? This course prepares students to navigate future episodes as policymakers, finance professionals, and citizens by going inside the practical decisions made in an unfolding crisis, from the U.S. government and IMF to the boardroom and trading floor. Students will learn warning signs of distress; market structures that govern crisis dynamics; strategic interactions among the key actors; and lessons learned for creating a more resilient system. Concepts will be applied to real-world experiences in emerging market crises, the U.S. housing and global financial crisis, the European sovereign crisis, and as well the extraordinary fiscal and central bank responses to the COVID-19 crisis.
Terms: Spr
| Units: 1
Instructors:
Toloui, R. (PI)
ECON 17N: Energy, the Environment, and the Economy
Examines the intimate relationship between environmental quality and the production and consumption of energy. Assesses the economics efficiency and political economy implications of a number of current topics in energy and environmental economics. Topics include: the economic theory of exhaustible resources, Greenhouse Gas Emissions (GHG) control (cap and trade mechanisms and carbon fees), GHG emissions offsets, the Strategic Petroleum Reserve (SPR), the "smart" transmission grid for electricity, nuclear energy and nuclear waste, the real cost of renewable energy, natural gas and coal-fired electricity production, the global coal and natural gas markets, Corporate Average Fuel Efficiency (CAFE) and Low-Carbon Fuel Standards (LCFS), Energy Efficiency Investments and Demand Response, and Carbon Capture and Sequestration (CCS). For all topics, there will be reading to explain the economics and engineering behind the topic and class discussion to clarify and elaborate on this interaction. Prerequisite:
Econ 1 is recommended.
Terms: Sum
| Units: 3
| UG Reqs: WAY-SI
Instructors:
Wolak, F. (PI)
ECON 19Q: Government by the Numbers (PUBLPOL 19Q)
Spending by federal, state, and local governments accounts for about one-third of U.S. GDP and governments employ more than one-in-seven workers in the U.S. For most U.S. residents, government is represented by a complicated web of federal, state, and local policies. There is an increasingly contentious debate about the proper role of the government and regarding the impact of specific government policies. This debate is rarely grounded in a common set of facts. In this seminar, we will explore how each level of government interacts with U.S. residents through government services, public programs, taxes, and regulations. We will examine financial results for different levels of government while considering the net effects of government intervention on the health and economic well-being of individuals and families. Particular attention will be paid to certain sectors (e.g. education, health care, etc.) and to certain groups (e.g. those in poverty, the elderly, etc.). Along the way we will accumulate a set of metrics to assess the performance of each level of government while highlighting the formidable challenges of such an exercise. Prerequisite:
Econ 1.
Terms: Aut
| Units: 3
| UG Reqs: WAY-SI
Instructors:
Ballmer, S. (PI)
;
Duggan, M. (PI)
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