Macroeconomics Topics For Assignment Of Rents

Note: courses with light gray backgrounds are not offered this academic year.

ECON 110(F, S)Principles of Microeconomics

This course is an introduction to the study of the forces of supply and demand that determine prices and the allocation of resources in markets for goods and services, markets for labor, and markets for natural resources. The focus is on how and why markets work, why they may fail to work, and the policy implications of both their successes and failures. The course focuses on developing the basic tools of microeconomic analysis and then applying those tools to topics of popular or policy interest such as minimum wage legislation, pollution control, competition policy, international trade policy, discrimination, tax policy, and the role of government in a market economy. [ more ]

ECON 111Introduction to Economics and Its Applications

Not offered this year

This course is intended for students who do not wish to major in economics but who would like to learn something about the discipline and to develop a greater understanding of the ways in which economics can be used to explain behavior and to inform policy. Our focus will be on providing some very basic tools of economic analysis and important institutional background regarding the US and international economies, and then using those tools and institutional knowledge to analyze current policy issues.[ more ]

ECON 120(F, S)Principles of Macroeconomics

This course provides an introduction to the study of the aggregate national economy. It develops the basic theories of macroeconomics and applies them to topics of current interest. Issues to be explored include: the causes of inflation, unemployment, recessions, and depressions; the role of government fiscal and monetary policy in stabilizing the economy; the determinants of long-run economic growth; the long- and short-run effects of taxes, budget deficits, and other government policies on the national economy; the role of financial frictions in amplifying recessions; and the workings of exchange rates and international finance.[ more ]

ECON 203(S)Gender and Economics

This course uses economic analysis to explore how gender differences can lead to differences in economic outcomes, in both households and the labor market. Questions to be covered include: How does the family function as an economic unit? How do individuals allocate time between the labor market and the household? How have changes in family structure affected women's employment, and vice-versa? What are possible explanations for gender differences in labor force participation, occupational choice, and earnings? What is the role of government in addressing gender issues in the home and the workplace? How successful are government policies that primarily affect women (e.g., comparable worth policies, AFDC/TANF, subsidization of child care)? The course will focus on the current experience of women in the United States, but will place these gender differences in a historical and cross-cultural context.[ more ]

ECON 204Economics of Developing Countries

Not offered this year

The leaders of poor countries almost universally proclaim "economic development" to be their eventual destination, but it is not easy to visualize the journey. Is rapid economic growth sufficient to generate development, or do governments need to pro-actively invest in health and education? When does globalization facilitate development? Is it true that corruption is major obstacle? Has the climate crisis upended our traditional models to the point where we need to rethink the notion of development? The class will introduce this set of issues, as analyzed by economists.[ more ]

ECON 205(F)Public Economics

This course examines the role of the government in a market economy. Three broad issues are considered: under what conditions is government intervention in the economy appropriate? When merited what is the most effective form of intervention? What effects do government policies have on incentives and behavior?After examining these questions from a theoretical perspective, the course will turn to analysis of particular government spending programs in the United States including Social Security, various types of publicly-provided insurance, spending on education, and public assistance for the poor. Finally we will study how the government raises revenue through taxation. We will discuss the principles that guide tax design and consider the effects of the tax code on behavior.[ more ]

ECON 209(S)Labor Economics and Policy

Employment--finding it (or looking for but not finding it), its compensation, and the conditions under which it occurs--is a key concern for most residents of advanced economies throughout their adult lives. Work is the main source of income for the vast majority of working-age adults in these economies, and work-related issues and policies reliably top national policy agendas. Labor economics is the study of these issues--how the level and distribution of skills, wages, employment, and income are determined in the market for labor and how various policies affect this market and its outcomes. In this course we will apply the tools of microeconomics to analyze labor force participation, the allocation of time to market work, migration, labor demand, investment in human capital (education and on-the-job training), discrimination, unions and unemployment. We will also examine the impact of government programs and mandates such as employment-based tax credits, unemployment insurance, antipoverty programs, and minimum wages on the labor market. We will devote particular attention to topics of current U.S. policy interest, including immigration, income inequality, and education.[ more ]

ECON 211Gender in the Global Economy

Not offered this year

This course will present a feminist economic analysis of the global economy, and some of the urgent issues facing women in poor countries. The course will start by developing theoretical resources: these will include feminist critiques of economics theory, work on care labor and the shifting boundaries between markets, governments and households, theories of household bargaining, and discussions of intersectionality and difference. Then we will discuss a series of interlinked issues which may include the contradictory effects of structural adjustment and its successors; the informal sector and the 'invisible assembly line'; the economics of sex work and global sex trafficking; microcredit; the economics of the HIV/AIDS pandemic. We will finish by looking at community-based activism, non-governmental organizations, and the possibilities for first-world/third-world alliances.[ more ]

ECON 213(S)Introduction to Environmental and Natural Resource Economics

We'll use economics to learn why we harm the environment and overuse natural resources, and what we can do about it. We'll talk about whether and how we can put a dollar value on nature and ecosystem services. We'll study cost benefit analysis, pollution in general, climate change, natural resources (like fisheries, forests, and fossil fuels), and energy. We will take an economic approach to global sustainability, and study the relationship between the environment and economic growth and trade.[ more ]

ECON 215Globalization

Not offered this year

This course will examine the causes and consequences of globalization. This includes studying topics such as trade, immigration, foreign direct investment, and offshoring. The impact of these forms of globalization on welfare, wages, employment, and inequality will be a focal point. Throughout we will rely on economic principles, models, and empirical tools to explain and examine these contentious issues.[ more ]

ECON 219 TGlobal Economic History

Not offered this year

Why did Western Europe--and not China, India, or the Middle East--first experience the Industrial Revolution? Why did Latin America fall behind in the 20th century, while Japan and eventually China boomed? What explains the historical success of the US economy? And why has African economic growth been relatively slow for so long? These and other questions will guide our exploration of global economic development over the past several millennia. We will draw on micro and macroeconomic theory to help explain and interpret the historical roots of the modern global economy. Our focus will be broadly comparative across space and time, with an emphasis on how institutions, resource endowments, culture, technology, and market developments help explain economic differences and change around the world. Throughout the course, we will draw on micro and macroeconomic theories and concepts to help explain and interpret the historical roots of modern global economy.[ more ]

ECON 220American Economic History

Not offered this year

This course examines the growth and development of the American economy from the colonial era to the modern period. The emphasis will be on the use of economic theory and quantitative evidence to explore key questions and themes in U.S. history. Topics may include some or all of the following: the development of colonial markets, the economic origins of the U.S. Constitution, immigration, agricultural innovation, industrialization, slavery, government regulation and policymaking, the Great Depression, the changing roles of women in the U.S. economy, post-World War II growth, the construction of the social safety net, and the place of the United States in the modern global economy. Comparisons will be made to European and non-European experiences when appropriate.[ more ]

ECON 222Economics of the Arts and Culture

Not offered this year

What economic forces influence the creation, presentation, preservation and ownership of art and culture? Should support for the arts be provided through private patronage, private philanthropy, or public sector support? How does the mechanism of support for art affect the productivity and creativity of the artist? Does art make a good investment for an individual? How do art markets function and what determines the price of art? Why do some art museums and performing arts organizations require donations and public support and operate as non-profit enterprises, while other types of culture production and preservation operate as for-profit enterprise? What are the impacts on economic vitality and local economic development of cultural and arts organizations? When these impacts arise, how can (or should) they be used for public policy? This course will use the tools of economic analysis to present a framework for discussion and analysis of these and related questions.[ more ]

ECON 225 TGlobal Financial Crisis and African Economic Development

Not offered this year

Will the global financial crunch create a development crisis for Africa? Just two years ago the International Monetary Fund published the most optimistic growth projections for Africa in decades, predicting rapid growth driven by higher commodity prices, stronger agricultural output and the dividends of years of difficult economic reforms. Today, economic analysts are downgrading African growth forecasts in the face of growing poverty and macroeconomic challenges. Food prices have more than doubled in some countries--increasing hunger for the most vulnerable groups. Fuel costs--and subsidy policies in some countries--are creating macroeconomic imbalances, and the global financial crisis is depressing demand for Africa's exports. Private capital flows, which reached record levels until 2007, are expected to decline by $300-400 billion over the next two years, with bank lending falling, portfolio investment declining, and foreign direct investment decreasing. This triple-F crisis--food, fuel and financial--is posing renewed challenges to African leaders trying to tackle the imperatives of economic development and pro-poor and inclusive economic growth. This crisis is raising the costs of reforms in countries reliant on exports and international capital for growth. Successful strategies must combine policies more efficiently than ever--to balance the necessary reforms with initiatives that offset the costs for the most vulnerable. This tutorial will analyze critical questions posed by the emerging crisis: Which countries will be hit the hardest, and how deeply and for how long? Through which channels does the contagion afflict national economies? And perhaps most importantly, what coordinated strategies can African nations develop in order to foster effective responses? This tutorial will explore how policy-makers in Africa are working to build successful inclusive growth strategies, with fiscal, monetary, industrial, trade and labor market policies reinforcing each other rather than working at cross purposes.[ more ]

ECON 227(F)Acquiring Art: Selecting and Purchasing Objects For WCMA

How do museums acquire art? Factors considered in selecting objects include: the museum's existing collection, its mission, the availability of suitable objects, evaluation of the art historical importance of potential purchases, and the available budget. How can objects be identified and obtained at the most reasonable cost? How do auctions work and what strategies are best for purchasing works at auction? Is it more economical to purchase art at auction or to work with dealers or (for contemporary works) directly with artists? Do museums consider value in the same way as private collectors? What role does an object's history and condition play in the evaluation process? In this course students will work as teams to identify and propose objects for addition to the collection of the Williams College Museum of Art (WCMA). A significant budget will be made available for the acquisition. We will discuss approaches for identification, acquisition and evaluation of objects. Student teams will be responsible for identifying a set of objects that would make appropriate additions to the WCMA collection, and a strategy for acquiring one or more of those objects. Working with the advice of WCMA curatorial staff, one or more of these objects will be acquired using the agreed strategy, and the object will become part of the WCMA permanent collection. Graduate students will participate in all aspects of the class but may be required to undertake different assignments.[ more ]

ECON 228 T(F)Water as a Scarce Resource

For a variety of reasons including environmental pollution, urbanization, changing agricultural techniques, resource mismanagement, and the consequences of climate change, water is becoming a scarce resource even in places where it was relatively plentiful in the past, and it is likely to become an increasingly scarce resource over the coming decades. In this course we will use basic economic models to consider policy issues relating to water: Is access to water a basic human right, and if so, what market and non-market mechanisms should play a role in water allocation? Does public ownership of water improve the way it is provided and used? Why do societies differ in their approaches to allocating water and are some systems better than others? What does it mean to have a property right to water? Could private property rights to water help address the water pollution problem? How can societies change their water-related property rights, regulations and social institutions when individuals have implicit or explicit rights to the institutional status quo? Who has the right to water that crosses international boundaries? How should societies allocate water across generations?[ more ]

ECON 229Law and Economics

Not offered this year

This course applies the tools of microeconomic analysis to private (i.e., civil) law. This analysis has both positive and normative aspects. The positive aspects deal with how individuals respond to the incentives created by the legal system. Examples include: how intellectual property law encourages the creation of knowledge while simultaneously restricting the dissemination of intellectual property; how tort law motivates doctors to avoid malpractice suits; and how contract law facilitates agreements. The normative aspects of the analysis ask whether legal rules enhance economic efficiency (or, more broadly, social welfare). Examples include: what legal rules are most appropriate for mitigating pollution, ensuring safe driving, and guaranteeing workplace safety? The course will also cover the economics of legal systems; for example, what are the incentives for plaintiffs to initiate lawsuits and what role do lawyers play in determining outcomes. The course will also consider potential reforms of the legal system. In the 2014-15 academic year, the course will place more emphasis on intellectual property law as part of the campus-wide initiative, "The Book Unbound," associated with the opening of the new library.[ more ]

ECON 230The Economics of Health and Health Care

Not offered this year

In recent years, the intersection between health and economics has increased in importance. The costs of health care have been rising, although more slowly in the past few years. A substantial fraction of the United States population lacks health insurance, with the implementation of the Affordable Care Act intended to remedy that problem. In the United States and around the world the rising elderly population is putting increasing pressure on health spending. Globally, the HIV/AIDS pandemic is causing severe economic hardship, and many people lack access to basic health care. More positively, advances in health care have widened the scope of possible treatments. Given the importance of good health for individual well-being, it is not surprising that health, health care and how to pay for it are sources of anxiety for individuals and policymakers worldwide. In this course we will analyze the economics of health by applying standard microeconomic techniques to the problems of health and health care markets. The course focuses on three broad issues: the inputs to health and the demand for health care, the structure and consequences of public and private health insurance, and the supply of health care. Special attention will be devoted to topics of current public policy, including the problems of rising costs and cost containment, health insurance reform, the changing nature of healthcare provision, changing public policies in the Medicare and Medicaid programs, hospital competition, and the determinants and consequences of technological change in medicine.[ more ]

ECON 232(F)Financial Markets, Institutions and Policies

This course first explores the role of the financial system and financial markets, and how they interact with the economy. What does finance do? How are asset prices determined, and how are these prices related to interest rates? Are financial markets efficient, and what are the implications of their efficiency or lack thereof? How does the financial system help with the management of risks faced by society? Second, it analyzes the role of the central bank and the conduct of monetary policy. How do central banks set monetary policy and how do those policies affect the economy? How does monetary policy change when interest rates are (virtually) zero? Third, it studies the complexities associated with managing and regulating modern financial instruments and markets. Why are financial crises so common, and why has regulation not succeeded in preventing them?[ more ]

ECON 233(S)Behavioral Economics and Public Policy

In many ways, the fields of psychology and economics both study the same phenomena: the incentives that influence our decision-making across different contexts. This course provides a survey of the ways in which these two fields intersect, i.e. behavioral economics. Topics include how individual responses to economic incentives can be influenced by heuristics, framing, social norms, and other cognitive or social incentives. Concurrently, the course will review how these concepts can be (or are already being) applied to firm strategy, development, and public policy contexts. These include the role of behavioral economics in programs geared towards reducing poverty, increasing environmental conservation, and encouraging education investment, among others. The course will also discuss whether and how we ought to judge which behaviors are socially desirable and worth encouraging through policy.[ more ]

ECON 235Urban Centers and Urban Systems

Not offered this year

Cities, systems of cities, and the interactions between cities are the outcome of human decisions and reflect their social structure and desire for interaction. The form of these urban areas is determined by the choices made by the people who reside in, work in, and travel between cities. Economic forces influence and constrain these choices, and economic models of decision-making can help us to explain and predict the patterns that result. These models help us to comprehend the structure of urban areas. This course will introduce the ideas and some of the analytic tools that assist in understanding the economic foundations of urban centers and urban systems. Topics addressed in the course will include the determinants of land use, location of firms, choice of transportation mode, flows of capital investment into real estate, housing prices and housing availability and regulation of housing markets, movement of population from one city to another, and public policies designed to deal with urban problems.[ more ]

ECON 240 TColonialism and Underdevelopment in South Asia

Not offered this year

British colonial rule in South Asia shaped economy and society in fundamental ways. As resistance to colonial rule emerged in the late nineteenth century, "nationalist" writers developed a critique of its economic impact via taxation, fiscal policy, trade, and many other policies. In their turn, supporters of British rule, "apologists," argued that British rule had laid the foundations of economic growth by securing property rights, enforcing contracts, and developing infrastructure. The debate between "nationalists" and "apologists" has never quite ended, but after the recent growth of the Indian economy it has lost some of its emotional charge. We will use this opportunity to not only examine the economic questions, but also how power and resistance have shaped the answers provided. Therefore, the course is part of the college's Exploring Diversity Initiative.[ more ]

ECON 242(F)Evaluating the Costs and Benefits of Public Policies

How do we determine whether introducing a new vaccine is cost-effective and worth the investment costs or whether a policy to protect a wetland is worth the sacrifice? Is it possible to assess the economic consequences in terms of benefits and costs of new healthcare regulations? Economists typically use the tools of applied cost-benefit (CBA) and cost-effectiveness analysis (CEA) in order to address such policy questions. The goal of applied economic evaluations is to identify, measure, and value all relevant costs and benefits of new public policy investments and regulations. This course covers both theory and practice of economic appraisal of a public policy (an investment project, regulation, a specific treatment etc.), with an emphasis on health care and public health applications. The CBA and CEA methods covered in the class are widely used in many other policy areas as well, including public transportation, infrastructure investment and environmental policy.[ more ]

ECON 251(F, S)Price and Allocation Theory

A study of the determination of relative prices and their importance in shaping the allocation of resources and the distribution of income. Subjects include: behavior of households in a variety of settings, such as buying goods and services, saving, and labor supply; behavior of firms in various kinds of markets; results of competitive and noncompetitive markets in goods, labor, land, and capital; market failure; government policies as sources of and responses to market failure; welfare criteria; limitations of mainstream analysis.[ more ]

ECON 252(F, S)Macroeconomics

A study of aggregate economic activity: output, employment, inflation, and interest rates. The class will develop a theoretical framework for analyzing economic growth and business cycles. The theory will be used to evaluate policies designed to promote growth and stability, and to understand economic developments in the U.S. and abroad. Instructors may use elementary calculus in assigned readings, exams and lectures.[ more ]

ECON 255(F, S)Econometrics

An introduction to the theory and practice of applied quantitative economic analysis. This course familiarizes students with the strengths and weaknesses of the basic empirical methods used by economists to evaluate economic theory against economic data. Emphasizes both the statistical foundations of regression techniques and the practical application of those techniques in empirical research. Computer exercises will provide experience in using the empirical methods, but no previous computer experience is expected. Highly recommended for students considering graduate training in economics or public policy. [ more ]

ECON 299(F)Economic Liberalism and Its Critics

Economic liberalism holds that society is better off if people enjoy economic freedom. Its critics point to what they believe this position ignores or what it wrongly assumes, and hence, how it would make bad policy. This course explores the relationship between politics and economics by surveying influential works of political economy. Its first part examines major thinkers in relation to the historical development of capitalism in Western Europe and the United States: the classical liberalism of Adam Smith, Karl Marx's revolutionary socialism, and the reformist ideas of John Maynard Keynes. The second part considers mid-20th-century writers who revise and critique economic liberalism from a variety of perspectives, including Friedrich Hayek, Milton Friedman, Ronald Coase, Arthur Okun, and Albert O. Hirschman. The third part surveys significant recent contributions relevant to the themes of the course, with applications to current public policy issues, including topics such as: power relations and autonomy in the workplace; asymmetric information and social insurance; economic inequality and distributive justice; equality of opportunity; the economics of health care; positional goods and the moral foundations of capitalism; economic nationalism and new trade theory; behavioral economics; finance and financial crises; and rent-seeking. The combination of the historical focus of the early part of the course with discussion of modern policy issues and debates in the latter part of the course permits you to appreciate the ongoing dialogue between classical and contemporary views of political economy.[ more ]

ECON 351Tax Policy

Not offered this year

The tax system is a major element of public policy. In addition to raising revenue for government expenditure programs, policymakers use the tax system to redistribute resources and to promote a variety of economic policies. For example, the United States tax system has specific rules to encourage savings, education, and investment. Inherently, many tax policy choices involve trade-offs between equity and efficiency. The purpose of this course is to clarify the goals and possibilities of tax policy, mainly through an examination of U.S. federal tax policy (though the search for possible reforms may lead us to examine policies from other countries). The course will examine the choice of the tax base (income or consumption), notations of fairness in taxation (e.g., the rate structure), the choice to tax corporate income separately from personal income, and a variety of specific tax policy issues (e.g., retirement saving, child care, the "marriage" tax, capital gains taxation, and the taxation of housing).[ more ]

ECON 352(S)Financial Development and Regulation

This course focuses on the financial system and its role in economic development. The first part explores the functions of finance, how it contributes to growth and income inequality, examining what can be done to increase financial inclusion. It will examine experiences with financial sector repression and subsequent liberalization, and investigate the causes and impact of financial crises. Then it will study how to make finance effective and how to prevent or minimize crises, analyzing government's role as regulator, supervisor, standard setter, contract enforcer, and owner. In this final part, attention will be devoted to the role of institutions (laws, norms, culture) and incentives in financial sector development.[ more ]

ECON 353(F)Mathematical Economics

This course integrates economics at the intermediate level with the tools of mathematics. Topics such as univariate and multivariate calculus will be reviewed or introduced in the context of how these mathematical concepts enhance economic analysis. The combination of economic and mathematical analysis will provide a strong foundation for thesis writing and advanced study of economic theory.[ more ]

ECON 356(S)Empirical Methods in Macroeconomics

Macroeconomics and related fields in international finance and development have evolved specialized empirical techniques, known generally as macroeconometrics, which are designed to meet the practical challenges that the data and the empirical questions pose in these fields. The course will introduce the theory and application of these techniques, and students will learn how to implement these techniques using real world data to address practical questions drawn from the fields of macro, international finance and development. Topics to which these techniques will be applied include business cycle analysis, sources of exchange rate volatility and determinants of long run economic growth. The course is also available to undergraduates with permission of the instructor. Undergraduates with strong math backgrounds may wish to enroll directly in Econ 471 in lieu of this course. However, those seeking a transition course may wish to enroll in this course prior to taking Econ 471.[ more ]

ECON 357 T(S)The Economics of Higher Education

This tutorial will utilize economic theory and econometric methods to understand a variety of issues pertaining to the economics of colleges and universities. In particular, we'll discuss the logic of non-profit enterprises, the financial structure of a college or university, competition in the market for higher education, policies impacting tuition and financial aid, the individual and societal returns from investments in higher education, and the distinctive features of academic labor markets. Particular attention will be paid to selective liberal arts colleges.[ more ]

ECON 358International Trade

Not offered this year

This class will examine the causes and consequences of globalization. We will cover the classic models of international trade and discuss the empirical relevance of these theories. Other global forces such as immigration, foreign direct investment, offshoring, trade policies, and trade agreements will also be examined. Throughout the course we will focus on the factors driving globalization as well as the welfare and distributional implications.[ more ]

ECON 359(S)Developing Country Macroeconomics II: Institutions and Policy Regimes

Developing countries do not find it difficult to initiate rapid growth, but do find it difficult to sustain it. Growth spurts are often derailed by macroeconomic shocks. As developing countries become increasingly open to trade and financial interactions with the rest of the world, such shocks may become more frequent, and potentially more severe. This course examines the types of macroeconomic institutions and policy regimes that can help developing countries withstand such shocks and sustain economic growth. We will examine fiscal rules, policies toward the domestic financial sector, central bank independence, the design of monetary and exchange rate regimes, and capital account regimes. We will also consider how shortcomings in institutions and policy regimes have contributed to macroeconomic crises in developing countries .[ more ]

ECON 360International Monetary Economics

Not offered this year

This course studies the macroeconomic behavior of economies that trade both goods and assets with other economies: international financial transactions, especially the buying and selling of foreign money, the role of central banks and private speculators in determining exchange rates and interest rates, and the effects of international transactions on the overall performance of an open economy. Additional topics may include the "asset market approach" to exchange rate determination, the nature and purpose of certain international institutions, and important current events.[ more ]

ECON 361Political Economy and Economic Development

Not offered this year

This course is intended as an introduction to the newly emerging field of political economy of institutions and development. Key questions of interest include how voters behave and how this affects policy and economic outcomes; the nature, evolution and economic implication of corruption, and how it can be controlled; and the economics of conflict. The goal of the course is both to provide students of a sense of the frontier research topics in political economy in developing countries and to introduce them to the methodologies used to investigate these topics.[ more ]

ECON 362(F)Global Competitive Strategies

This course maintains an IO perspective, acknowledging the centrality of large, multinational firms in determining the pattern and success of a nation's international economic activities (which include, but are not limited to, a wide range of licensing, trade, and diverse configurations of foreign direct investment activities, and their implications for employment, profitability, and social welfare at home and abroad.) In this sense, we depart from international economic approaches that focus foremost on the ways in which a country's factor endowments, domestic market characteristics, and government policies promote or impede such activities, although in our treatment we do not neglect these factors, but treat them as constraints upon, or resources supporting, the optimizing behaviors of large firms. During and following a case-based module in which we learn and simulate the strategic decision processes used by executives of multinationals, we examine the actual trade and investment decisions of those firms, compare them to the predictions of international trade and multinational IO theories, and seek to explain divergences where they are identified. Throughout, competitive strategies of domestic and foreign rivals in markets around the world are explored. As well, the types and efficacy of various government policies in promoting the competitiveness of industries in regional and global markets -- and how they are linked to recent work in growth theory -- are examined. Further, substantial recent shifts in the nature of globalized economic activity, including the changing relative mobility and power of capital and labor, are examined. Finally, welfare propositions and policy ideas for addressing welfare impacts are advanced and discussed. Written cases, class participation, a mid-term exam, and a final paper or exam are expected.[ more ]

ECON 364Theory of Asset Pricing

Not offered this year

What is the price of time? What is the price of risk? How do markets allocate resources across time and uncertain states of the world? This course theoretically studies how markets allocate scarce resource across time and when outcomes are risky. The "goods" in such markets are called "assets" and the prices of "assets" determine the cost of trading resources across time and across uncertain states of the world. We theoretically investigate how equilibrium determines the price of time, then asset price implications; then asset allocations and prices in the presence of risk; finally, implications for new assets.[ more ]

ECON 366International Trade and Development

Not offered this year

This course will examine the causes and consequences of globalization and its implications for less-developed countries. We will study the classic models of international trade and discuss the empirical relevance of these theories. In addition, we will focus on other dimensions of globalization that are of particular importance to developing countries such as trade and education, emigration, brain drain, remittances, foreign direct investment, trade policies, infant industry protection, trade and growth, the resource course, and trade agreements.[ more ]

ECON 372(S)Incentives and Development Policy

Why isn't the whole world developed? This course (and instructor) is of the opinion that the difficulty of getting incentives right is the key source of inefficiency. The course therefore studies how limited enforcement and asymmetric information constrain development, and about innovative development designs that attempt to overcome these constraints. The course readings will be a mix of field studies, empirical evidence and theoretical tools from game theory. Incentive and corruption problems in health, education, the regulation of banks and natural monopolies, privatization, budgeting, debt forgiveness, foreign aid, microfinance, climate treaties and ethnic violence will be studied using a unified framework. Note: this course was developed to address issues that arise in the countries represented at the CDE.[ more ]

ECON 374 TPoverty and Public Policy

Not offered this year

Since 1965, the annual poverty rate in the United States has hovered between 10% and 15%, though far more than 15% of Americans experience poverty at some point in their lives. In this course, we will study public policies that, explicitly or implicitly, have as a goal improving the well-being of the poor in this country. These policies include safety net programs (Aid to Families with Dependent Children/Temporary Assistance to Needy Families, Supplemental Nutrition Assistance Program/Food Stamps, Medicaid/Children's Health Insurance Program, and housing assistance), education programs (Head Start and public primary and secondary education), and parts of the tax code (the Earned Income Tax Credit). We will explore the design and functioning of these programs, focusing on questions economists typically ask when evaluating public policy: Does the policy achieve its goals? Does the design of the policy lead to unintended effects (either good or bad)? Could it be redesigned to achieve its goals in a more cost-effective manner? Through in-depth study of these programs, students will learn how economists bring theoretical models and empirical evidence to bear on important questions of public policy.[ more ]

ECON 377(F)Inspiration/Perspiration: The Economics of Innovation

From the iron plow, to the steam engine, to modern biotechnology, innovation drives economic growth and raises living standards. Whether we are talking about great inventions or small tweaks, the tools of economics can help us understand how new ideas and technologies emerge, spread, and become obsolete. In this course, we will examine the creation of new knowledge, the translation of ideas and scientific advances into practical applications, and the adoption of new technologies by producers and consumers. We will study the incentives that potential innovators face, how these are affected by patents and other forms of intellectual property rights, how entrepreneurs finance and market their innovations and how different market structures can influence the resulting trajectory of innovation and adoption. We will also discuss how government policies can foster the financing and development of innovation. Throughout the course, we will explore historical and contemporary case studies of the creation, exploitation, and consequences of innovation.[ more ]

ECON 378(S)Long-Run Perspectives on Economic Growth

The world today is marred by vast differences in the standard of living, with about a 30-fold difference in per-capita incomes between the poorest country and the most affluent. What explanations do long-run growth economists have to offer for these differences in levels of prosperity across nations? Are the explanations to be found in underlying differences between countries over the past few decades, the past few centuries, or the past few millennia? If contemporary differences in living standards have "deep" historically-rooted origins, what scope exists for policies to reduce global inequality today? Can we expect global inequality to be reduced gradually over time, through natural processes of economic development, or are they likely to persist unless action is taken to reduce them? This course will present a unified theory of economic growth for thinking about these and related questions. Examples of issues to be covered include: the Neoclassical growth model and its inefficacy for answering questions about development over long time horizons; Malthusian stagnation across societies during the pre-industrial stage of economic development; the importance of the so-called demographic transition and of human capital formation in the course of industrialization; the persistent influence of colonialism, slavery, and ethnic fragmentation in shaping the quality of contemporary politico-economic institutions; and the long-lasting effects of geography on comparative development, through its impact on the emergence of agriculture in early human societies and its influence in shaping the genetic composition of human populations across the globe.[ more ]

ECON 379Program Evaluation for International Development

Not offered this year

Development organizations face strict competition for scarce resources. Both public and private organizations are under increasing pressure to use rigorous program evaluation in order to justify funding for their programs and to design more effective programs. This course is an introduction to evaluation methodology and the tools available to development practitioners, drawing on examples from developing countries. It will cover a wide range of evaluation techniques and discuss the advantages and disadvantages of each. The course is a mix of applied econometrics and practical applications covering implementation, analysis, and interpretation. You will learn to be a critical reader of evaluations, and to develop your own plan to evaluate an existing program of your choice.[ more ]

ECON 380(S)Population Economics

This course is an introduction to the economic analysis of demographic behavior and the economic consequences of demographic change. An important aim is to familiarize students with historical and contemporary trends in fertility, mortality, migration, and family composition, and the implications of these trends for the economy. The course demonstrates the application of microeconomic theory to demographic behavior, including fertility, marriage, and migration. Students are introduced to basic techniques of demographic measurement and mathematical demography. Selected topics include the economic consequences of population growth in developing countries, the economics of fertility and female labor force participation, the effects of an older age structure on the social security system, and the relationship between population growth and natural resources. [ more ]

ECON 381Global Health Policy Challenges

Not offered this year

Poor health is both a cause and a consequence of poverty. It can trap individuals in poverty and reduce aggregate economic growth. This course will be structured around major global health challenges, including maternal health, HIV/AIDS, tuberculosis, malaria, diarrheal disease, nutritional deficiencies and obesity. For each topic, we will first examine the prevalence of the problem. Then, we will turn to the evidence about the costs, benefits, and effectiveness of existing policy solutions. Finally, we will use this information to debate policy alternatives and develop policy recommendations that take into account budgetary, political, and social constraints.[ more ]

ECON 383Cities, Regions and the Economy

Not offered this year

Cities and urbanization can have significant impacts on the economy. In many developed economies, a process of regional decline is associated with older, industrial cities. In developing countries, the process of economic growth is generally associated with increasing urbanization. Urbanization, with its increasing concentration of population and production, puts particular pressure on markets to allocate resources for provision of land, housing, transportation, labor and public goods. Urbanization can alter the productivity of land, labor, and capital in ways that can improve the welfare of residents and the performance of the broader economy. In this course we will examine these conflicting economic forces and examine some recent research that contributes to our understanding of the difference between regional growth and decline, and the role that the urban structure plays in these processes. We will examine the function of land, housing, transportation, and labor markets in the urban context, and the scope for public policies to improve the performance of the regional economy. [ more ]

ECON 384(S)Corporate Finance

This course analyzes the major financial decisions facing firms. While the course takes the perspective of a manager making decisions about both what investments to undertake and how to finance these projects, it will emphasize the underlying economic models that are relevant for these decisions.Topics include capital budgeting, links between real and financial investments, capital structure choices, dividend policy, and firm valuation. Additional topics may include issues in corporate risk management, corporate governance and corporate restructuring, such as mergers and acquisitions.[ more ]

ECON 386Environmental and Natural Resource Policy

Not offered this year

Economic activity often damages the environment significantly, especially in developing countries. Firms may clear-cut valuable forests, while consumers may drive high-pollution vehicles with little thought for the environmental consequences. Economists have proposed a variety of policy remedies, from pollution taxes to tradable permit schemes and restrictions on the quantity of pollution. This course first examines the relative merits of these policies from a theoretical perspective. When pollution damage is uncertain, is it better to use a pollution tax or a quantity restriction? Is it worse to set a pollution tax too high than to set it too low? It then proceeds to the practical issues that attend policy implementation, particularly where state capacity is limited. What is the best policy when inspectors can be threatened or bribed? When resource extraction is hard to monitor? Case studies will likely include policies aimed at deforestation, mineral ownership and extraction, particulate air pollution from industry and transportation, and carbon emissions from electricity generation. In evaluating policies we will think about both efficiency and the distribution of costs and benefits. (What if environmental regulation only benefits the wealthiest people in a country?) We will also examine the environmental consequences of policies aimed at other problems, like poverty and low education.[ more ]

ECON 387Economics of Climate Change

Not offered this year

This course introduces the economic view of climate change, including both theory and empirical evidence. Given the substantial changes implied by the current stock of greenhouse gases (GHGs) in the atmosphere, we will begin by looking at impacts on agriculture, health, income, and migration in both poor and wealthy countries. Next we will study adaptation, including capital investments and behavioral changes. We will examine the sources of climate change, especially electricity generation and transportation, and think about optimal policies. What is the socially optimal amount of climate change? Why have countries had such a hard time agreeing on GHG emissions reductions, and how might we overcome such difficulties? We will consider the growing body of evidence from attempts to regulate GHGs, including China's pilot cap-and-trade programs, the EU ETS, and the US Clean Power Plan. We will pay particular attention to the political economy of regulation and ways in which policy results have departed from theoretical predictions. Throughout the course we will discuss the limits of the economic approach to climate change, pointing out questions on which economic theory provides little guidance.[ more ]

ECON 388Urbanization and Development

Not offered this year

At current rates of growth, the combined population of urban areas in developing countries will double in the next 30 years. The land area devoted to urban use is expected to double even more quickly. The costs of providing housing and infrastructure to accommodate this growth are enormous, but the costs of failing to accommodate urban development may be even larger. The decisions made in response to these challenges will affect the economic performance of these countries and the health and welfare of the urban residents. By affecting global patterns of energy use, these decisions will have broader impacts on the entire planet. This course will focus on these challenges. What are the economic forces that drive the process of urbanization, and how does the level of urbanization affect economic development? How are policies towards housing, transportation, public finance and development affected by urbanization? What policy choices are available, and which are most likely to succeed in dealing with the challenges of urban growth?[ more ]

ECON 389(S)Tax Policy in Emerging Markets

Taxes are half of what government does. So if you are interested in what government policy can do to promote efficiency, equity, and economic development, you should be interested in tax policy. Governments must raise tax revenue to finance critical public goods, address other market failures and distributional issues, and to avoid problems with debt and inflation. Taxes typically take up anywhere from ten to fifty percent of a country's income, they profoundly affect the incentives to undertake all varieties of economic activity, and the government expenditures that they finance have potentially large consequences for human welfare. So the stakes involved in improving tax policy are quite large. All of these issues are of great importance in emerging markets (developing and transition economies), but in these nations taxation is especially challenging because of serious problems with tax evasion and administration. This class provides an in-depth exploration of tax policy, with an emphasis on the challenges and issues most relevant in emerging markets. Topics addressed in this class include: how basic economic principles can be applied to help one think about the efficiency and equity consequences of tax policies; how personal income taxes, corporate income taxes, and value-added taxes are designed and administered and how they influence the economy; ideas for fundamental reforms of these taxes; theory and evidence in the debate over progressive taxes versus "flat" taxes; how various elements of tax design affect incentives to save and invest; how market failures and administrative problems may influence the optimality of different tax policies; the implications of global capital flows and corporate tax avoidance for the design of tax policy; tax holidays and other special tax incentives for investment; empirical evidence on the influence of taxes on economic growth, foreign direct investment, labor supply, and tax evasion; tax policy towards natural resources such as minerals and oil; case studies of efforts to reform tax administration and reduce tax evasion and corruption; taxes on land and property; taxes on imports and exports; presumptive taxation; and the informal economy and its implications for tax policy.[ more ]

ECON 390 TFinancial Crises: Causes and Cures

Not offered this year

Financial crises have been with us for as long as banking has existed. Why are crises such a regular fixture of societies, and what can be done to prevent them, or at least reduce their cost? Topics examined include bubbles and swindles, especially when these spillover to the broader macroeconomy; the role of information in banking in normal times and in bank runs; boom-bust cycles in asset markets; international contagion; crisis resolution techniques; and the extensive history of attempts to improve regulation so as to reduce the frequency and cost of crises. Crises in developing and developed economies from the South Sea Bubble to the Euro Crisis will be examined, and the role of political economy factors in their run-up and resolution will be featured.[ more ]

ECON 391 TEconomic Analysis of Housing Markets

Not offered this year

Housing is one of the most basic of human needs and the housing market is one of the largest, most important and most heavily regulated markets in national economies around the world. At various times economists, policy makers and the general public have regarded the housing market as irrational and malfunctioning in a variety of ways. Why? In this tutorial we will explore and analyze the workings of the housing market. In what ways do housing markets differ from other markets? Why (and how often) do house price "bubbles" occur? How do mortgage markets function and influence housing markets in countries around the world? In what ways can housing and housing conditions serve as an indicator of quality of life? How do housing markets affect the sustainability of cities? These and other questions will be the focus of reading and discussion for the course.[ more ]

ECON 394European Economic History

Not offered this year

Economic history directly informs our understanding of the process of economic development. With this in mind, this course will explore a series of questions related to the economic development of Europe from the early modern period until today. Why did modern economic growth first occur in Europe, and not in China or the Middle East? Why did the Industrial Revolution occur in Britain and not France? What was the role of colonialism in the acceleration of European growth? What explains the rise and fall of the Soviet economy? What are the causes and consequences of European economic integration since World War II?To answer these and other questions, we will investigate how institutional changes, the evolution of technology, aspects of globalization, and various forms of government intervention have impacted economic growth and living standards in European history, and how those developments have affected the rest of the world. Drawing on a wide variety of empirical and theoretical readings, the course will focus on how economic historians marshall evidence and construct arguments in ways that borrow from and contribute to other fields of economics.[ more ]

Macroeconomics Assignment Help

The term macroeconomics is obtained from the Greek word Macro indicating large. Macroeconomic research study offers with the financial indications like the GDP (Gross Domestic Products), rates of unemployment, and the methods by which these signs interact to affect the functioning of the whole economy. Prior to moving ahead to solve your assignment, it is advised to comprehend the foundation of macroeconomics.

Joblessness: Country makes use of an unemployment rate to figure out the number of people who do not have a job. There can be several reasons for unemployment. Employers do not work with lots of workers if the salaries are too high. Moreover, there are specific criteria that cause cyclical joblessness. The rate, at which things get priced, is called inflation. Higher inflation rates can be hazardous to the economy.

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Even the most effective students may need assistance with their macroeconomics homework especially if learning macroeconomics is not a significant topic. They might battle with the most difficult macroeconomics job. That is why macroeconomics issues and macroeconomics analysis might need a good deal of time and deep understanding. On a regular basis learning macroeconomics presupposes surfing macroeconomics websites, reading books on associated subjects, making macroeconomics analysis. Carrying out macroeconomics tasks are not simple tasks at all which may lead to frustration.

Macroeconomics is the branch of economics that mainly deals with the structure of the economy and its performance as a whole instead of concentrating on markets individually. This comprises of nationwide, local and international economies. The indications of macroeconomics are gross domestic products, unemployment and cost index. Macroeconomics makes efforts to describe the relationship between the following reasonable factors: national earnings, output, usage, joblessness, inflation, savings, investment, global trade and worldwide finance. Microeconomics is based upon the following principles: opportunity, option and shortage expense, production possibility curve, need, supply and market stability, comparative benefit, specialization and exchange.

The determinants of aggregate need, aggregate supply and macroeconomic stability are utilized in national earnings and rate decision. Macroeconomics considers the performance of all markets in the whole market system influenced largely by the huge subsectors of the economy that is the household sector. Household includes all customers and business sector that is all companies. Macroeconomics can also be utilized to study the market interrelationship between 2 or more trading nations. In a nutshell, the scope of macroeconomics includes looking at the success or failure of federal government policies, requiring consideration that these are the biggest influencers of the market efficiency. According to the meaning offered on economics-key, “Macroeconomics is the branch of economics that handles the efficiency and behavior of an economy as a whole.” It is something that makes the macroeconomics fascinating. If you are a student pursuing macroeconomics in your major, then you will learn about the different parameters that impact us in our lives. For instance, products get more expensive every year at an offered rate represents inflation. We observe these things also, but never ever know the factor. In addition, it provides an overall status of a country’s economy. Zimbabwe economy is nearly ruined due to inflation and someone from the United States can purchase half of the Zimbabwe without investing much. These fascinating cases can be discovered in your Macroeconomics assignment, and we supply support with such cases.

Macroeconomics Homework Help

Homework help economics, macroeconomics. View what I can do to help you in concentrating on homework. Access healthcare reform data, essential organizations, Homework Help Economics, Macroeconomics. Economics offers economics research help. Assignment help for high school level economics to cover MBA level economics. Cash making concern is among the premium help provided by reputable economics. Making concerns is fed use actual financial systems. Economics has two main branches which vary in their approach of establishing theories for economies. Microeconomics studies the behaviour of specific devices of the economy while macroeconomics research studies the economy as a whole. Macroeconomics is concerned with the research of behaviour of the economy with booms and economic crises, the economy’s total output of items and services and the development of output, the rates of inflation and the unemployment, the balance of payments and the exchange rates.

Economics is one of the toughest classes that students will ever take. After studying microeconomics, students still have to prosper in their macroeconomics. If Economics does not interest you then it is tough to get interested in Macroeconomics. Do not let Macroeconomics give you a tough time. Let Macroeconomics professionals at Essay Corp help you to deal with all type of Macroeconomics Assignment. Macroeconomics is a field of economics that deals with performance, structures, behaviour, and decision-making procedure of the entire economy like local, worldwide or national. It is the study of economy at broad viewpoints and the factors of production in a whole economy. Macroeconomics is a large field of research study, it consists of both brief term preparation of an economy and long term preparation of an economy.

Economicskey team of Economics experts has assisted students based in different nations with their economics research. Macroeconomics is the branch of economics that generally deals with the structure of the economy and its performance as a complete rather than focusing on markets separately. Access the health care reform data, vital companies, Homework Help Economics, Macroeconomics. Our economics assignment help experts at Economicskey.com supply complete services for your economics tutorials and economics problem options.

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Question that requires to be answered is: what is Macroeconomics? According to the meaning offered on the Economicskey, “it is a branch of economics that deals with the performance, behaviour, decision-making, and structure of the economy as a whole, instead of individual markets.” This branch of Economics consists of worldwide, nationwide, and local economies.

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