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 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 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)
ECON 22N: Causes and Consequences of the Rise in Inequality
In this class we will discuss the economic and institutional causes of the rise in inequality in the US and other countries over the last 40 years. We will also discuss the consequences of inequality in terms of social justice, economic welfare, aggregate economic performance, intergenerational mobility, and the possible implications of inequality for the recent global financial crisis.
Terms: Aut
| Units: 3
| UG Reqs: WAY-SI
Instructors:
Pistaferri, L. (PI)
ECON 23N: Capitalism, Socialism and Democracy
We will explore the evolution and current performance of capitalist and socialist economies, their interaction with democracy, and the contemporary debate about the appropriate roles of individual vs. collective rights and responsibilities.
Terms: Spr
| Units: 3
| UG Reqs: WAY-SI
Instructors:
Boskin, M. (PI)
ECON 25N: Public Policy and Personal Finance (PUBLPOL 55N)
The seminar will provide an introduction and discussion of the impact of public policy on personal finance. Voters regularly rate the economy as one of the most important factors shaping their political views and most of those opinions are focused on their individual bottom lines. In this course we will discuss the rationale for different public policies and how they affect personal financial situations. We will explore personal finance issues such as taxes, loans, charity, insurance, and pensions. Using the context of (hypothetical) personal finance positions, we will discuss the public policy implications of various proposals and how they affect different groups of people, for example: the implications of differential tax rates for different types of income, the promotion of home ownership in the U.S., and policies to care for our aging population. While economic policy will be the focus of much of the course, we will also examine some of the implications of social policies on personal finance as well. There will be weekly readings and several short policy-related writing assignments.
Terms: Spr
| Units: 3
| UG Reqs: WAY-SI
Instructors:
Rosston, G. (PI)
ECON 43: Introduction to Financial Decision-Making
The purpose of the class is for you to obtain greater comfort making the major financial decisions your life journey will require. Illustrative examples, case studies, historical and statistical evidence, and some simple analytical tools will be presented. We hope to help students avoid damaging mistakes in the decisions that will determine their financial flexibility and safeguard them against life's uncertainties. Students will learn how to keep more options open and to live with fewer constraints by making sound financial decisions. Topics include making a financial plan and budget, managing money, saving, investing in stocks and other assets, purchasing insurance, taxes and inflation, inheritance, financial markets and financial advisors.
Terms: Spr
| Units: 5
| UG Reqs: WAY-SI
Instructors:
Boskin, M. (PI)
;
Shoven, J. (PI)
;
Jimenez, M. (TA)
...
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Instructors:
Boskin, M. (PI)
;
Shoven, J. (PI)
;
Jimenez, M. (TA)
;
Kee, Y. (TA)
;
Light, J. (TA)
;
Walton, D. (TA)
;
Zhang, A. (TA)
ECON 46: Networks and Human Behavior
Two threads are interwoven: why social and economic networks have special features, and how those features shape power, opinions, opportunities, and behaviors. Some of the topics included are: the different ways in which a person's position in a network determines their influence; which systematic errors people make when forming opinions based on what they learn from others; how financial contagions work and why are they different from the spread of a flu; the role of splits in our social networks in inequality, immobility, and polarization; and how network patterns of trade and globalization have changed international conflict and wars. The course requires analyzing network data, which will be provided. No prerequisite but
Econ 102A or equivalent is recommended.
Terms: Spr
| Units: 5
| UG Reqs: WAY-SI, WAY-AQR
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