Corequisites: ECON W1155 recitation section with the same instructor.

How a market economy determines the relative prices of goods, factors of production, and the allocation of resources and the circumstances under which it does it efficiently. Why such an economy has fluctuations and how they may becontrolled.

Recitation Section Required.

Prerequisites: ECON W3211 or W3213; STAT W1211 or SIEO W4150; and MATH V1201 or V1207.

Modern econometric methods; the general linear statistical model and its extensions; simultaneous equations and the identification problem; time series problems; forecasting methods; extensive practice with the analysis of different types of data.

Prerequisites: ECON W3211, W3213 and Stat W1211.

Institutional nature and economic function of financial markets. Emphasis on both domestic and international markets (debt, stock, foreign exchange, eurobond, eurocurrency, futures, options, and others). Principles of security pricing and portfolio management; the Capital Asset Pricing Model and the Efficient Markets Hypothesis.

Prerequisites: ECON W3211 and W3213.

Introduction to the principles of money and banking. The intermediary institutions of the American economy and their historical developments, current issues in monetary and financial reform.

Prerequisites: ECON W3211, W3213, W3412 and MATH V2010.

An introduction to the dynamic models used in the study of modern macroeconomics. Applications of the models will include theoretical issues such as optimal lifetime consumption decisions and policy issues such as inflation targeting. This course is strongly recommended for students considering graduate work in economics.

Prerequisites: ECON W3211 and W3213.

Congestion and other games, and the pricing of transit services. Location theory and land rents. Segregation and discrimination. The fiscal structure of American cities. Zoning and the taking issue. Abandonment and city-owned property. Economic development, abatements, subsidies, and eminent domain. Crime, deadweight losses, and the allocation of police services.

Prerequisites: ECON W3211 and W3213.

The study of industrial behavior based on game-theoretic oligopoly models. Topics include pricing models, strategic aspects of business practice, vertical integration, and technological innovation.

Prerequisites: ECON W3211 and W3213.

The growth and structural changes of the post-World War II economy; its historical roots; interactions with cultural, social, and political institutions; economic relations with the rest of the world.

Prerequisites: ECON W3211, W3213; STAT W1211 or POLS W4910.

The interaction between economics and politics. Anintroduction to the voting theory and other alternative theories of the interaction between economic policy and elections in democracies. Examines both fiscal and monetary policies with relation to different interest groups. Also considers political economy of stabilizationpolicies in developing countries.

Prerequisites: Econ W3211, W3213, W3412, Math V2010

The linear regression model will be presented in matrix form and basic asymptotic theory will be introduced. The course will also introduce students to basic time series methods for forecasting and analyzing economic data. Students will be expected to apply the tools to real data.

Prerequisites: ECON W3211 and W3213.

Introduction to the systematic treatment of game theory and its applications in economic analysis.

Prerequisites: ECON W3211 and W3213.

Types of market failures and rationales for government intervention in the economy. Benefit-cost analysis and the theory of public goods. Positive and normative aspects of taxation. The U.S. tax structure.

Prerequisites: Econ W3211, W3213, W3412

This course studies gender gaps, their extent, determinants and consequences. The focus will be on the allocation of rights in different cultures and over time, why women's rights have typically been more limited and why most societies have traditionally favored males in the allocation of resources.

Prerequisites: Econ W3211 and W3213.

The world is being transformed by dramatic increases in flows of people, goods and services across nations. Globalization has the potential for enormous gains but is also associated to serious risks. The gains are related to international commerce where the industrial countries dominate, while the risks involve the global environment, poverty and the satisfaction of basic needs that affect in great measure the developing nations. Both are linked to a historical division of the world into the North and the South-the industrial and the developing nations. Key to future evolution are (1) the creation of new markets that trade privately produced public goods, such as knowledge and greenhouse gas emissions, as in the Kyoto Protocol; (2) the updating of the Breton Woods Institutions, including the creation of a Knowledge Bank and an International Bank for Environmental Settlements.

Corequisites: ECON W1155 recitation section with the same instructor.

How a market economy determines the relative prices of goods, factors of production, and the allocation of resources and the circumstances under which it does it efficiently. Why such an economy has fluctuations and how they may becontrolled.

Recitation Section Required.

Prerequisites: ECON W3211 or W3213; STAT W1211 or SIEO W4150; and MATH V1201 or V1207.

Modern econometric methods; the general linear statistical model and its extensions; simultaneous equations and the identification problem; time series problems; forecasting methods; extensive practice with the analysis of different types of data.

Prerequisites: Econ W1105.

Covers five areas within the general field of international economics: (i) microeconomic issues of why countries trade, how the gains from trade are distributed, and protectionism; (ii) macroeconomic issues such as exchange rates, balance of payments and open economy macroeconomic adjustment, (iii) the role of international institutions (World Bank, IMF, etc); (iv) economic development and (v) economies in transition.

Prerequisites: ECON W3211, W3213 and Stat W1211.

Institutional nature and economic function of financial markets. Emphasis on both domestic and international markets (debt, stock, foreign exchange, eurobond, eurocurrency, futures, options, and others). Principles of security pricing and portfolio management; the Capital Asset Pricing Model and the Efficient Markets Hypothesis.

Prerequisites: ECON W3211 and W3213.

Introduction to the principles of money and banking. The intermediary institutions of the American economy and their historical developments, current issues in monetary and financial reform.

Prerequisites: STAT W1211, ECON W3211 and W3213.

Topics include behavior uncertainty, expected utility hypothesis, insurance, portfolio choice, principle agent problems, screening and signaling, and information theories of financial intermediation.

Prerequisites: Econ W3211, W3213; Math V2010.
Corequisites: Math V2500 or Math W4061.

The course provides a rigorous introduction to microeconomics. Topics will vary with the instructor but will include consumer theory, producer theory, general equilibrium and welfare, social choice theory, game theory and information economics. This course is strongly recommended for students considering graduate work in economics.

Prerequisites: ECON W3211 and W3213.

A survey of some of the major intellectual developments that have created the discipline of economics. Particular attention to the works of Adam Smith, Alfred Marshall, Irving Fisher, and J. M. Keynes.

Prerequisites: ECON W3211 and W3213.

Historical comparative examination of the economic development problems of the less developed countries; the roles of social institutions and human resource development; the functions of urbanization, rural development, and international trade.

Prerequisites: W3211, W3213, W3412 and MATH V2010

This course focuses on the application of econometric methods to time series data; such data is common in the testing of macro and financial economics models. It will focus on the application of these methods to data problems in macro and finance.

Prerequisites: ECON W3211 and W3213.

Introduction to the systematic treatment of game theory and its applications in economic analysis.

Prerequisites: Econ W3211, W3213 and Permission of the Instructor. Note: This course may be taken to fulfill an elective or the seminar requirement for the major and concentration; however, this course does not fulfill the seminar requirement for the joint majors that require specific seminars (econ-operations research, econ-philosophy, econ-political science and econ-statistics), nor does it fulfill an elective requirement for the econ-philosophy major.

Deals with policy issues in emerging market economies such as macroeconomic stabilization, the sources and management of financial crises, and the role of fiscal, monetary and exchange rate policies in dealing with them.

Prerequisites: STAT W1211, ECON W3211 and W3213. ECON W4400 is strongly recommended.

What differences does race make in the U.S. economy? Why does it make these differences? Are these differences things we should be concerned about? If so, what should be done? Examines labor markets, housing markets, capital markets, crime, education, and the links among these markets. Both empirical and theoretical contributions are studied.

Prerequisites: ECON W3211 and W3213.

The theory of international trade, comparative advantage and the factor endowments explanation of trade, analysis of the theory and practice of commercial policy, economic integration. International mobility of capital and labor; the North-South debate.

Prerequisites: ECON W3211, and W3213.

Introduction to monetary problems in international trade. Topics include macroeconomics of the open economy under fixed and flexible exchange rates, international adjustment under the gold standard, monetary problems of the interwar period, the Breton Woods agreement, transition to flexible exchange rates, planned reforms of the international monetary system andthe Eurocurrency markets.

Prerequisites: ECON W3211 and W3213.

Covers reform issues in transition economies such as price liberalizatin, currency reform, asset privatization, macroeconomic stabilization, trade liberalization and exchange rate policies, and foreign resource flows with suitable examples from the experience of the transition economies of Russia, the post-Soviet states, East-central Europe, China and Vietnam.

Prerequisites: ECON W3211 and W3213.

An analytical survey of the economic organization of China, with reference to population and land resources, agriculture, industries, transportation, trade, and finance. The social and cultural forces affecting economic development.

Prerequisites: Econ W3211 and W3213.

The course is intended to provide an economic framework for understanding the law and legal institutions. Topics covered include property law, contract theory and torts.

Prerequisites: ECON W3211 and W3213.

Microeconomics is used to study who has an incentive to protect the environment. Government's possible and actual role in protecting the environment is explored. How do technological change, economic development, and free trade affect the environment? Emphasis on hypothesis testing and quantitative analysis of real-world policy issues.