This first course in economics provides the fundamental tools for exploration of the field. Microeconomics considers the decisions of households and firms about what to consume and what to produce, and the efficiency and equity of market outcomes. Supply and demand analysis is developed and applied. Policy issues include price controls, competition and monopoly, income inequality , and the role of government in market economies. Students who have AP or IB credit in economics, and who elect ECON 101, forfeit the AP or IB credit. ECON 101P is an alternative course open to students who have not fulfilled the Quantitative Reasoning (QR) component of the Quantitative Reasoning & Data Literacy requirement.

This course follows ECON 101 in continuing to build fundamental tools for exploration of the field. The course analyzes the aggregate dimensions of a market-based economy. Topics include the measurement of national income, economic growth, unemployment, inflation, business cycles, the balance of payments, and exchange rates. The impact of government monetary and fiscal policies is considered. Students who have AP or IB credit in economics and who elect ECON 102 forfeit the AP or IB credit. ECON 102P is an alternative course open to students who have not fulfilled the Quantitative Reasoning (QR) component of the Quantitative Reasoning & Data Literacy requirement.

This course follows ECON 101 in continuing to build fundamental tools for exploration of the field. The course analyzes the aggregate dimensions of a market-based economy. Topics include the measurement of national income, economic growth, unemployment, inflation, business cycles, the balance of payments, and exchange rates. The impact of government monetary and fiscal policies is considered. Students who have AP or IB credit in economics and who elect ECON 102 forfeit the AP or IB credit. ECON 102P is an alternative course open to students who have not fulfilled the Quantitative Reasoning (QR) component of the Quantitative Reasoning & Data Literacy requirement.

An introduction to the collection, analysis, interpretation, and presentation of quantitative data as used to understand problems in economics and sociology. Using examples drawn from these fields, this course focuses on basic concepts in probability and statistics, such as measures of central tendency and dispersion, hypothesis testing, and parameter estimation. Data analysis exercises are drawn from both academic and everyday applications.

Intermediate microeconomic theory: analysis of the individual household, firm, industry, and market, and the social implications of resource allocation choices. Emphasis on application of theoretical methodology.

Intermediate macroeconomic theory: analysis of fluctuations in aggregate income and growth and the balance of payments. Analysis of policies to control inflation and unemployment.

This course introduces students to the methods economists use to assess empirical relationships, primarily regression analysis. Issues examined include statistical significance, goodness-of-fit, dummy variables, and model assumptions. Includes an introduction to panel data models, instrumental variables, and randomized and natural experiments. Students learn to apply the concepts to data, read economic research, and write an empirical research paper.

This course introduces students to the methods economists use to assess empirical relationships, primarily regression analysis. Issues examined include statistical significance, goodness-of-fit, dummy variables, and model assumptions. Includes an introduction to panel data models, instrumental variables, and randomized and natural experiments. Students learn to apply the concepts to data, read economic research, and write an empirical research paper.

This course is an introduction to the study of the key issues affecting economic development in low- and middle-income countries. We will use economic analysis to gain an understanding of these key issues and review policy options. Specific topics will include growth, population, health, education, gender equality, credit markets, trade and foreign aid.

This course considers the economic aspects of resource and environmental issues. After examining the concepts of externalities, public goods, and common property resources, we will discuss how to measure the cost and benefits of environmental policy in order to estimate the socially optimal level of the environmental good. Applications of these tools will be made to air and water pollution, renewable and nonrenewable resources, and global climate. In addressing each of these problems we will compare various public policy responses such as regulation, marketable permits, and tax incentives.

This course is designed to deepen students' engagement with scholarship in Economics. Enrollment is by invitation only and will draw from students concurrently enrolled in the core required courses for the major or minor. The class will introduce students to current research in Economics, presented by different faculty members, and link that research to skills and concepts covered in core required courses. Students will gain a better understanding of the ways the tools they are learning in their courses can be applied to real world issues.

This course will use the insights of organization theory to analyze the development of the U.S. economy. The main topics to be examined will include: the evolution of the U.S. banking and financial system and the institutional changes underlying each phase of its development; the contractual foundations of business organizations and the choice between partnerships and the corporate form; the rise of big business and the great merger wave of the 1890s and the legal changes that made these developments possible; and the regulatory innovations of the Securities and Exchange Commission in the 1930s. The course will employ a variety of sophisticated theoretical and empirical methods in analyzing these developments and will present them in comparative international perspective.

This course examines the reasons for the integration across borders of the markets in goods and the factors of production, and the consequences of these trends. In the first part of the course we discuss the history of globalization. We then investigate the rationale and record of international trade, the immigration of labor, and global financial flows. We examine issues related to international public goods, and the need for collective solutions to such global problems as pandemics and pollution. We also investigate the records of international governmental organizations.

Poor sanitation, inadequate waste management, contaminated water supplies and exposure to indoor air pollution affect millions of people in developing countries and pose continuing risks to their health. The objective of this course is to provide students with a set of theoretical, econometric and practical skills to estimate the causal impact of environmental policies and programs with a particular focus on less-developed countries. Examples from the readings will explore the effect of laws, NGO programs or natural experiments on environmental quality and sustainability. Students will learn to critically analyze existing studies and to gauge how convincingly the research identifies a causal impact. Students will use these skills to develop an evaluation plan for a topic of their choice at the end of the term.

This course applies microeconomics to issues in health, medical care, and health insurance. Emphasis is placed on policy-relevant empirical research. Topics include the impact of health insurance on health, the interaction between health insurance and the labor market, the government's role in health care, the economics of medical provider reimbursement, and the effects of medical malpractice policy.

This first course in economics provides the fundamental tools for exploration of the field. Microeconomics considers the decisions of households and firms about what to consume and what to produce, and the efficiency and equity of market outcomes. Supply and demand analysis is developed and applied. Policy issues include price controls, competition and monopoly, income inequality , and the role of government in market economies. Students who have AP or IB credit in economics, and who elect ECON 101, forfeit the AP or IB credit. ECON 101P is an alternative course open to students who have not fulfilled the Quantitative Reasoning (QR) component of the Quantitative Reasoning & Data Literacy requirement.

This first course in economics provides the fundamental tools for exploration of the field. Microeconomics considers the decisions of households and firms about what to consume and what to produce, and the efficiency and equity of market outcomes. Supply and demand analysis is developed and applied. Policy issues include price controls, competition and monopoly, income inequality , and the role of government in market economies. Students who have AP or IB credit in economics, and who elect ECON 101, forfeit the AP or IB credit. ECON 101P is an alternative course open to students who have not fulfilled the Quantitative Reasoning (QR) component of the Quantitative Reasoning & Data Literacy requirement.

This first course in economics provides the fundamental tools for exploration of the field. Microeconomics considers the decisions of households and firms about what to consume and what to produce, and the efficiency and equity of market outcomes. Supply and demand analysis is developed and applied. Policy issues include price controls, competition and monopoly, income inequality, and the role of government in market economies.

Econ 101P is open to (but is not limited to) students who do not meet the QR prerequisites for ECON 101 and is also appropriate for students who, because of their previous preparation in economics and mathematics, would benefit from additional academic support for their study of introductory economics. Additional class meeting slots will emphasize fluency with mathematical tools needed for success in economics. Students are normally expected to enroll concurrently in ECON 251H. Students who have AP or IB credit in Economics, and who elect ECON 101P, forfeit the AP or IB credit.

This course follows ECON 101 in continuing to build fundamental tools for exploration of the field. The course analyzes the aggregate dimensions of a market-based economy. Topics include the measurement of national income, economic growth, unemployment, inflation, business cycles, the balance of payments, and exchange rates. The impact of government monetary and fiscal policies is considered. Students who have AP or IB credit in economics and who elect ECON 102 forfeit the AP or IB credit. ECON 102P is an alternative course open to students who have not fulfilled the Quantitative Reasoning (QR) component of the Quantitative Reasoning & Data Literacy requirement.

An introduction to the collection, analysis, interpretation, and presentation of quantitative data as used to understand problems in economics and sociology. Using examples drawn from these fields, this course focuses on basic concepts in probability and statistics, such as measures of central tendency and dispersion, hypothesis testing, and parameter estimation. Data analysis exercises are drawn from both academic and everyday applications.

An introduction to the collection, analysis, interpretation, and presentation of quantitative data as used to understand problems in economics and sociology. Using examples drawn from these fields, this course focuses on basic concepts in probability and statistics, such as measures of central tendency and dispersion, hypothesis testing, and parameter estimation. Data analysis exercises are drawn from both academic and everyday applications.

Intermediate microeconomic theory: analysis of the individual household, firm, industry, and market, and the social implications of resource allocation choices. Emphasis on application of theoretical methodology.

Intermediate macroeconomic theory: analysis of fluctuations in aggregate income and growth and the balance of payments. Analysis of policies to control inflation and unemployment.

This course introduces students to the methods economists use to assess empirical relationships, primarily regression analysis. Issues examined include statistical significance, goodness-of-fit, dummy variables, and model assumptions. Includes an introduction to panel data models, instrumental variables, and randomized and natural experiments. Students learn to apply the concepts to data, read economic research, and write an empirical research paper.

Economics is the only social science in which the Nobel prize is awarded, and the list of winners and citations showcases the evolution of the discipline and economic ideas with staying power. This course will use the Nobel Prize as a starting point for students to apply what they have learned in principles of economics courses by exploring how economists have framed, and answered, important empirical and theoretical questions in our field. Topics may include incentives and decision-making; poverty, inequality, and welfare concerns; market design, firm behavior, and competition; externalities; financial markets; economic growth and macroeconomic equilibrium; the application of empirical methods to social problems; and possible future prize-winning ideas.

Should you sell your house at an auction where the highest bidder gets the house, but only pays the second-highest bid? Should the U.S. government institute a policy of never negotiating with terrorists? The effects of decisions in such situations often depend on how others react to them. This course introduces some basic concepts and insights from the theory of games that can be used to understand any situation in which strategic decisions are made. The course will emphasize applications rather than formal theory. Extensive use is made of in-class experiments, examples, and cases drawn from business, economics, politics, movies, and current events.

This course is designed to deepen students' engagement with scholarship in Economics. Enrollment is by invitation only and will draw from students concurrently enrolled in the core required courses for the major or minor. The class will introduce students to current research in Economics, presented by different faculty members, and link that research to skills and concepts covered in core required courses. Students will gain a better understanding of the ways the tools they are learning in their courses can be applied to real world issues.

How do individuals and groups make decisions? The core of the course is traditional game theory: the formal study of the choices and outcomes that emerge in multiperson strategic settings. Game theoretic concepts such as Nash equilibrium, rationalizability, backwards induction, sequential equilibrium, and common knowledge are motivated by and critiqued using applications drawn from education policy, macroeconomic policy, business strategy, terrorism risk mitigation, and good old-fashioned parlor games.

Why do people give to charity? What can be done to convince more people to save money in retirement plans? This course explores these and other questions by introducing psychological phenomena into standard models of economics. Evidence from in-class experiments, real-world examples, and field and laboratory data is used to illustrate the ways in which actual behavior deviates from the classical assumptions of perfect rationality and narrow self-interest.

A seminar for senior economics majors engaged in independent research. Students will learn about the use of empirical techniques in economics, including the opportunity to engage with the research of prominent economists, who present their work at the Calderwood and Goldman seminars hosted by the department. Students will also present and discuss their own research at weekly meetings. Students may not accumulate more than 0.5 credit for this course.