Estratégias De Negociação Eficiente Fricções Na Presença De Mercado

Nota: os cursos com fundos cinza claro não são oferecidos neste ano acadêmico. ECON 110 (F, S) Princípios da Microeconomia Este curso é uma introdução ao estudo das forças de oferta e demanda que determinam os preços e a alocação de recursos nos mercados de bens e serviços, mercados de trabalho e mercados de recursos naturais. O foco é sobre como e por que os mercados funcionam, porque eles podem deixar de funcionar e as implicações políticas de seus sucessos e falhas. O curso se concentra no desenvolvimento das ferramentas básicas de análise microeconômica e, em seguida, aplicando essas ferramentas a tópicos de interesse popular ou político, tais como legislação de salário mínimo, controle de poluição, política de concorrência, política comercial internacional, discriminação, política fiscal e o papel do governo em Uma economia de mercado. Mais ECON 111 Introdução à economia e suas aplicações Não oferecido este ano Este curso destina-se a estudantes que não desejam maior importância em economia, mas que gostariam de aprender algo sobre a disciplina e desenvolver uma maior compreensão das formas em que a economia pode Ser usado para explicar o comportamento e para informar a política. Nosso foco será o fornecimento de ferramentas muito básicas de análise econômica e fundamentos institucionais importantes sobre as economias dos EUA e internacionais e, em seguida, usando essas ferramentas e conhecimento institucional para analisar as questões políticas atuais. Mais ECON 120 (F, S) Princípios de Macroeconomia Este curso fornece uma introdução ao estudo da economia nacional agregada. Desenvolve as teorias básicas da macroeconomia e as aplica a tópicos de interesse atual. As questões a serem exploradas incluem: as causas da inflação, o desemprego, as recessões e as depressões, o papel da política fiscal e monetária do governo na estabilização da economia, os determinantes do crescimento econômico de longo prazo, os efeitos a longo e curto prazo dos impostos, os déficits orçamentários E outras políticas governamentais sobre a economia nacional, o papel das fricções financeiras na ampliação das recessões e no funcionamento das taxas de câmbio e das finanças internacionais. Mais ECON 203 (F) Gênero e Economia Este curso usa análise econômica para explorar como as diferenças de gênero podem levar a diferenças nos resultados econômicos, tanto nas famílias como no mercado de trabalho. As questões a serem abordadas incluem: como a família funciona como uma unidade econômica. Como os indivíduos alocam o tempo entre o mercado de trabalho e a família? Como as mudanças na estrutura familiar afetaram o emprego das mulheres e vice-versa. Quais são as possíveis explicações sobre as diferenças de gênero no trabalho? Forçar a participação, a escolha ocupacional e os ganhos Qual o papel do governo em abordar as questões de gênero no lar e no local de trabalho Quão bem-sucedidas são as políticas governamentais que afetam principalmente as mulheres (por exemplo, políticas de valor comparável, AFDCTANF, subsídio de assistência à infância). Sobre a experiência atual das mulheres nos Estados Unidos, mas colocará essas diferenças de gênero em um contexto histórico e transcultural. Mais ECON 204 (F) Economia dos países em desenvolvimento Os líderes dos países pobres quase universalmente proclamam o desenvolvimento econômico como seu destino final, mas não é fácil visualizar a jornada. É um crescimento econômico rápido suficiente para gerar desenvolvimento ou os governos precisam investir pró-ativamente em saúde e educação. Quando a globalização facilita o desenvolvimento. É verdade que a corrupção é um grande obstáculo. A crise climática levantou nossos modelos tradicionais ao ponto em que precisamos Repensar a noção de desenvolvimento A aula apresentará esse conjunto de questões, conforme analisado pelos economistas. Mais ECON 205 (S) Economia pública Este curso examina o papel do governo em uma economia de mercado. Três questões gerais são consideradas: em que condições a intervenção do governo na economia é apropriada Quando merecido qual é a forma mais eficaz de intervenção Quais os efeitos das políticas governamentais sobre incentivos e comportamentos. Depois de examinar essas questões de uma perspectiva teórica, o curso passará a análise De programas particulares de gastos governamentais nos Estados Unidos, incluindo Segurança Social, vários tipos de seguro público, gastos em educação e assistência pública para os pobres. Finalmente estudaremos como o governo aumenta as receitas através da tributação. Discutiremos os princípios que orientam o design de impostos e consideramos os efeitos do código tributário sobre o comportamento. Mais ECON 209 (S) Trabalho Economia Emprego - encontrá-lo (ou procurar, mas não encontrá-lo), sua compensação e as condições em que ocorre - é uma preocupação fundamental para a maioria dos residentes de economias avançadas ao longo de suas vidas adultas. O trabalho é a principal fonte de renda para a grande maioria dos adultos em idade de trabalhar nessas economias, e as questões e políticas relacionadas ao trabalho, de forma confiável, são as principais agendas de políticas nacionais. A economia do trabalho é o estudo dessas questões - como o nível e a distribuição de habilidades, salários, emprego e renda são determinados no mercado de trabalho e como várias políticas afetam esse mercado e seus resultados. Neste curso, aplicaremos as ferramentas da microeconomia para analisar a participação da força de trabalho, a alocação do tempo ao trabalho de mercado, a migração, a procura de mão-de-obra, o investimento em capital humano (educação e treinamento no local de trabalho), discriminação, sindicatos e desemprego. Também examinaremos o impacto dos programas e mandatos governamentais, tais como créditos fiscais baseados no emprego, seguro desemprego, programas anti-pobreza e salários mínimos no mercado de trabalho. Vamos dedicar uma atenção especial aos tópicos dos interesses atuais da política dos EUA, incluindo imigração, desigualdade de renda e educação. Mais ECON 211 Gênero na Economia Global Não oferecido este ano Este curso apresentará uma análise econômica feminista da economia global e algumas das questões urgentes que as mulheres enfrentam nos países pobres. O curso começará pelo desenvolvimento de recursos teóricos: incluirão críticas feministas sobre a teoria da economia, o trabalho no trabalho de cuidados e as fronteiras mutantes entre os mercados, os governos e as famílias, as teorias da negociação doméstica e as discussões sobre a interseção e a diferença. Em seguida, discutiremos uma série de questões interligadas que podem incluir os efeitos contraditórios do ajuste estrutural e seus sucessores, o setor informal e a linha de montagem invisível da economia do trabalho sexual e do tráfico sexual mundial microcrédito a economia da pandemia do HIVAIDS. Terminaremos analisando o ativismo comunitário, as organizações não governamentais e as possibilidades de alianças do primeiro mundo. Mais ECON 213 (S) Introdução à Economia Ambiental e de Recursos Naturais Aproveite bem a economia para saber por que prejudicamos o meio ambiente e abusamos dos recursos naturais, e o que podemos fazer sobre isso. Bem, fale sobre se e como podemos colocar um valor em dólares na natureza e nos serviços ecossistêmicos. Estudem bem a análise dos custos, a poluição em geral, as mudanças climáticas, os recursos naturais (como a pesca, as florestas e os combustíveis fósseis) e a energia. Vamos adotar uma abordagem econômica para a sustentabilidade global e estudar a relação entre meio ambiente e crescimento econômico e comércio. Mais ECON 215 (S) Globalização Este curso examinará as causas e conseqüências da globalização. Isso inclui assuntos como comércio, imigração, investimento estrangeiro direto e offshoring. O impacto dessas formas de globalização no bem-estar, nos salários, no emprego e na desigualdade será um ponto focal. Ao longo disso, confiamos em princípios econômicos, modelos e ferramentas empíricas para explicar e examinar essas questões contenciosas. Mais ECON 219 T (F) História Econômica Global Por que a Europa Ocidental - e não a China, a Índia ou o Oriente Médio - experimentou pela primeira vez a Revolução Industrial Por que a América Latina ficou para trás no século 20, enquanto Japão e, eventualmente, a China cresceram O que explica o sucesso histórico da economia dos EUA E por que o crescimento econômico africano foi relativamente lento durante tanto tempo. Essas e outras questões irão guiar nossa exploração do desenvolvimento econômico global nos últimos milênios. Vamos nos basear na teoria micro e macroeconômica para ajudar a explicar e interpretar as raízes históricas da economia global moderna. Nosso foco será amplamente comparativo entre o espaço e o tempo, com ênfase em como as instituições, os recursos financeiros, a cultura, a tecnologia e os desenvolvimentos do mercado ajudam a explicar as diferenças e mudanças econômicas em todo o mundo. Ao longo do curso, vamos nos basear em teorias e conceitos micro e macroeconômicos para ajudar a explicar e interpretar as raízes históricas da economia global moderna. Mais ECON 220 História econômica americana Não oferecida este ano Este curso examina o crescimento e o desenvolvimento da economia americana desde a era colonial até o período moderno. A ênfase será no uso da teoria econômica e evidências quantitativas para explorar questões e temas-chave na história dos EUA. Os tópicos podem incluir alguns ou todos os seguintes: o desenvolvimento dos mercados coloniais, as origens econômicas da Constituição dos EUA, a imigração, a inovação agrícola, a industrialização, a escravidão, a regulamentação governamental e a formulação de políticas, a Grande Depressão, a mudança de papéis das mulheres nos EUA. Economia, crescimento pós-Segunda Guerra Mundial, construção da rede de segurança social e o lugar dos Estados Unidos na economia global moderna. Serão feitas comparações para experiências europeias e não europeias quando apropriado. Mais ECON 222 Economia das Artes e Cultura Não oferecido este ano Quais são as forças econômicas que influenciam a criação, apresentação, preservação e propriedade da arte e da cultura. O apoio às artes deve ser oferecido por meio de patrocínio privado, filantropia privada ou apoio do setor público. O mecanismo de suporte para a arte afeta a produtividade e a criatividade do artista A arte faz um bom investimento para um indivíduo Como funcionam os mercados de arte e o que determina o preço da arte Por que alguns museus de arte e organizações de artes cênicas requerem doações e apoio público e operam Como empresas sem fins lucrativos, enquanto outros tipos de cultura produção e preservação operam como empresa com fins lucrativos. Quais são os impactos sobre a vitalidade econômica e o desenvolvimento econômico local das organizações culturais e artísticas. Quando esses impactos surgem, como pode (ou deve) ser usado Para políticas públicas Este curso usará as ferramentas de análise econômica para apresentar um quadro de discussão a E análise dessas e questões relacionadas. Mais ECON 225 T Crise financeira global e desenvolvimento econômico africano Não oferecido este ano A crise financeira global criará uma crise de desenvolvimento para a África Há apenas dois anos, o Fundo Monetário Internacional publicou as projeções de crescimento mais otimistas para a África em décadas, prevendo um rápido crescimento impulsionado por Preços mais elevados das commodities, produção agrícola mais forte e dividendos de anos de difíceis reformas econômicas. Hoje, os analistas econômicos estão destrutando as previsões de crescimento africano em face da crescente pobreza e desafios macroeconômicos. Os preços dos alimentos mais do que duplicaram em alguns países - aumentando a fome dos grupos mais vulneráveis. Os custos de combustível - e as políticas de subsídio em alguns países - estão criando desequilíbrios macroeconômicos, e a crise financeira global está reduzindo a demanda por exportações da África. Os fluxos de capital privado, que atingiram níveis recorde até 2007, deverão diminuir em 300-400 bilhões nos próximos dois anos, com o declínio dos empréstimos bancários, o investimento em carteira em declínio e o investimento estrangeiro direto diminuindo. Esta crise triple-F - alimentos, combustível e financeiro - está colocando desafios renovados para os líderes africanos que tentam enfrentar os imperativos de desenvolvimento econômico e crescimento econômico pró-pobre e inclusivo. Esta crise está aumentando os custos das reformas nos países dependentes das exportações e do capital internacional para o crescimento. As estratégias bem-sucedidas devem combinar as políticas de forma mais eficiente do que nunca - equilibrar as reformas necessárias com iniciativas que compensam os custos para os mais vulneráveis. Este tutorial analisará as questões críticas colocadas pela crise emergente: quais países serão atingidos o mais difícil e com que profundidade e por quanto tempo Por quais canais o contagio aflige as economias nacionais E talvez o mais importante, quais estratégias coordenadas podem desenvolver as nações africanas para Para promover respostas efetivas Este tutorial irá explorar como os decisores políticos em África estão trabalhando para construir estratégias de crescimento inclusivas bem-sucedidas, com políticas fiscais, monetárias, industriais, comerciais e de mercado de trabalho reforçando-se em vez de trabalhar em cruzamentos. Mais ECON 227 Adquirir Arte: Selecionar e Comprar Objetos Para WCMA Não oferecido este ano Como os museus adquirem arte Os fatores considerados na seleção de objetos incluem: a coleção de museus existentes, a missão, a disponibilidade de objetos adequados, a avaliação da arte importância histórica do potencial Compras e o orçamento disponível. Como os objetos podem ser identificados e obtidos com o custo mais razoável? Como os leilões funcionam e quais as melhores estratégias para comprar obras em leilão. É mais econômico comprar arte em leilão ou trabalhar com revendedores ou (para trabalhos contemporâneos) diretamente com artistas? Os museus consideram o valor da mesma forma que os colecionadores privados. Qual o papel que os objetos história e condição desempenham no processo de avaliação. Neste curso, os alunos trabalharão como equipes para identificar e propor objetos para adição à coleção do Museu de Arte Williams College (WCMA ). Um orçamento significativo será disponibilizado para a aquisição. Vamos discutir abordagens para identificação, aquisição e avaliação de objetos. As equipes de estudantes serão responsáveis ​​por identificar um conjunto de objetos que fariam adições apropriadas à coleção de WCMA e uma estratégia para adquirir um ou mais desses objetos. Trabalhando com o conselho da equipe de curadores da WCMA, um ou mais desses objetos serão adquiridos usando a estratégia acordada, e o objeto passará a fazer parte da coleção permanente da WCMA. Os estudantes de graduação participarão em todos os aspectos da classe, mas podem ser necessários para realizar diferentes tarefas. Mais Entendido por: Kevin Murphy ECON 228 T (S) Água como um recurso escasso Por uma variedade de razões, incluindo poluição ambiental, urbanização, mudança de técnicas agrícolas, má gestão de recursos e as conseqüências das mudanças climáticas, a água está se tornando um recurso escasso, mesmo em Lugares onde era relativamente abundante no passado, e é provável que se torne um recurso cada vez mais escasso nas próximas décadas. Neste curso, usaremos modelos econômicos básicos para considerar questões políticas relacionadas à água: o acesso à água é um direito humano básico e, em caso afirmativo, quais mecanismos de mercado e não-mercado devem desempenhar um papel na alocação de água. A propriedade pública da água melhora Da forma como é fornecido e utilizado Por que as sociedades diferem em suas abordagens para alocar água e alguns sistemas são melhores do que outros? O que significa ter um direito de propriedade à água? Podem os direitos de propriedade privada para a água ajudar a resolver o problema da poluição da água. Como as sociedades? Mudar seus direitos de propriedade, regulamentos e instituições sociais relacionados à água quando os indivíduos têm direitos implícitos ou explícitos sobre o status quo institucional. Quem tem o direito à água que atravessa fronteiras internacionais Como as sociedades alocam a água entre gerações mais ECON 229 Direito e Economia Não oferecido isso Ano Este curso aplica as ferramentas de análise microeconômica ao direito privado (isto é, civil). Esta análise tem aspectos positivos e normativos. Os aspectos positivos tratam de como os indivíduos respondem aos incentivos criados pelo sistema legal. Os exemplos incluem: como a lei de propriedade intelectual encoraja a criação de conhecimento, ao mesmo tempo que restringe a disseminação de propriedade intelectual, como a legislação de responsabilidade civil motiva os médicos para evitar ações de negligência e como o direito dos contratos facilita acordos. Os aspectos normativos da análise perguntam se as regras legais melhoram a eficiência econômica (ou, mais amplamente, o bem-estar social). Os exemplos incluem: quais regras legais são mais adequadas para mitigar a poluição, garantir uma condução segura e garantir a segurança no local de trabalho. O curso também abrangerá a economia dos sistemas legais, por exemplo, quais são os incentivos para que os demandantes iniciem ações judiciais e o papel que os advogados desempenham Resultados determinantes. O curso também irá considerar potenciais reformas do sistema legal. No ano lectivo 2014-15, o curso colocará mais ênfase no direito da propriedade intelectual como parte da iniciativa do campus, The Book Unbound, associada à abertura da nova biblioteca. Mais ECON 230 Economia da Saúde e Cuidados de Saúde Não oferecido este ano Nos últimos anos, a interseção entre saúde e economia aumentou em importância. Os custos dos cuidados de saúde têm aumentado, embora mais devagar nos últimos anos. Uma fração substancial da população dos Estados Unidos carece de seguro de saúde, com a implementação da Lei de Cuidados Acessíveis destinada a remediar esse problema. Nos Estados Unidos e em todo o mundo, o aumento da população idosa está aumentando a pressão sobre os gastos com saúde. Globalmente, a pandemia de HIV / AIDS está causando graves dificuldades econômicas e muitas pessoas não têm acesso a cuidados de saúde básicos. Mais positivamente, os avanços nos cuidados de saúde ampliaram o alcance dos possíveis tratamentos. Dada a importância de uma boa saúde para o bem-estar individual, não é surpreendente que a saúde, os cuidados de saúde e a forma de pagar por isso sejam fontes de ansiedade para indivíduos e formuladores de políticas em todo o mundo. Neste curso, analisaremos a economia da saúde, aplicando técnicas microeconômicas padrão aos problemas de saúde e mercados de cuidados de saúde. O curso se concentra em três questões gerais: os insumos para a saúde e a demanda por cuidados de saúde, a estrutura e as conseqüências dos seguros de saúde públicos e privados e o fornecimento de cuidados de saúde. Será dedicada especial atenção aos temas da política pública atual, incluindo os problemas de aumento de custos e contenção de custos, reforma do seguro de saúde, a natureza variável da provisão de cuidados de saúde, a mudança das políticas públicas nos programas Medicare e Medicaid, a competição hospitalar e os determinantes E as consequências da mudança tecnológica na medicina. Mais ECON 231 Mercados financeiros Não oferecidos este ano Os mercados financeiros desempenham um papel fundamental nas decisões de poupança doméstica e na alocação de investimentos na economia. Este curso examina a economia dos mercados e instituições financeiras. Os tópicos podem incluir: modelos de preços de ações e títulos, escolha de carteira, derivativos financeiros, hedge, eficiência do mercado financeiro, câmbio, crises financeiras e o potencial de regulamentação dos mercados financeiros. Mais ECON 232 (S) Mercados financeiros, instituições e políticas Este curso explora primeiro o papel do sistema financeiro e dos mercados financeiros, e como eles interagem com a economia. O que faz o financiamento? Como os preços dos ativos são determinados e como esses preços estão relacionados às taxas de juros? Os mercados financeiros são eficientes e quais são as implicações de sua eficiência ou falta. Como o sistema financeiro ajuda com a gestão dos riscos enfrentados pela sociedade Segundo , Analisa o papel do banco central e a condução da política monetária. Como os bancos centrais estabelecem a política monetária e como essas políticas afetam a economia Como a política monetária muda quando as taxas de juros são (praticamente) zero. Terceiro, estuda as complexidades associadas à gestão e regulação de instrumentos e mercados financeiros modernos. Por que as crises financeiras são tão comuns e por que a regulamentação não conseguiu impedir mais ECON 233 (F) Economia comportamental e política pública De muitas maneiras, os campos da psicologia e da economia estudam os mesmos fenômenos: os incentivos que influenciam nossa decisão, Fazendo diferentes contextos. Este curso fornece um levantamento das formas em que esses dois campos se cruzam, isto é, economia de comportamento. Os tópicos incluem como as respostas individuais aos incentivos econômicos podem ser influenciadas por heurísticas, enquadramento, normas sociais e outros incentivos cognitivos ou sociais. Ao mesmo tempo, o curso avaliará como esses conceitos podem (ou já estão sendo) aplicados em contextos de estratégia, desenvolvimento e políticas públicas firmes. Estes incluem o papel da economia comportamental em programas voltados para a redução da pobreza, o aumento da conservação ambiental e o incentivo ao investimento educacional, entre outros. O curso também irá discutir se e como devemos julgar quais comportamentos são socialmente desejáveis ​​e dignos de incentivo por meio de políticas. Mais ECON 235 Centros urbanos e sistemas urbanos Não oferecidos este ano As cidades, os sistemas das cidades e as interações entre cidades são o resultado de decisões humanas e refletem sua estrutura social e desejo de interação. A forma dessas áreas urbanas é determinada pelas escolhas feitas pelas pessoas que residem, trabalham e viajam entre as cidades. As forças econômicas influenciam e restringem essas escolhas, e os modelos econômicos de tomada de decisão podem nos ajudar a explicar e prever os padrões que resultam. Esses modelos nos ajudam a compreender a estrutura das áreas urbanas. Este curso irá apresentar as idéias e algumas das ferramentas analíticas que auxiliam na compreensão dos fundamentos econômicos dos centros urbanos e dos sistemas urbanos. Os tópicos abordados no curso incluirão os determinantes do uso da terra, a localização das empresas, a escolha do modo de transporte, os fluxos de investimento de capital no setor imobiliário, os preços da habitação e a disponibilidade de moradias e a regulamentação dos mercados imobiliários, o movimento da população de uma cidade para outra, E políticas públicas destinadas a lidar com problemas urbanos. Mais ECON 240 T Colonialismo e subdesenvolvimento no sul da Ásia Não oferecido este ano O domínio colonial britânico no sul da Ásia moldou a economia e a sociedade de maneiras fundamentais. À medida que a resistência ao domínio colonial surgiu no final do século XIX, os escritores nacionalistas desenvolveram uma crítica do seu impacto econômico através da tributação, política fiscal, comércio e muitas outras políticas. Por sua vez, partidários do governo britânico, apologistas, argumentaram que o governo britânico havia lançado as bases do crescimento econômico, assegurando direitos de propriedade, implementando contratos e desenvolvendo infra-estrutura. O debate entre nacionalistas e apologistas nunca terminou, mas, após o recente crescimento da economia indiana, perdeu uma parte da sua carga emocional. Usaremos essa oportunidade para não só examinar as questões econômicas, mas também como o poder ea resistência moldaram as respostas fornecidas. Portanto, o curso faz parte da Iniciativa Exploring Diversity das faculdades. Mais ECON 251 (F, S) Teoria de Preços e Alocações Um estudo sobre a determinação dos preços relativos e a importância deles em moldar a alocação de recursos e a distribuição de renda. Os assuntos incluem: comportamento das famílias em uma variedade de configurações, como a compra de bens e serviços, a poupança e o comportamento do fornecimento de mão-de-obra de empresas em vários tipos de mercados, resultados de mercados competitivos e não competitivos de bens, mão-de-obra, terra e falhas no mercado de capitais. Políticas como fontes e respostas às limitações dos critérios de bem-estar de falhas no mercado da análise geral. Mais ECON 252 (F, S) Macroeconomia Um estudo da atividade econômica agregada: produção, emprego, inflação e taxas de juros. A classe desenvolverá um quadro teórico para a análise do crescimento econômico e dos ciclos econômicos. A teoria será usada para avaliar as políticas destinadas a promover o crescimento e a estabilidade e a compreender os desenvolvimentos econômicos nos EUA e no exterior. Os instrutores podem usar o cálculo elementar em leituras, exames e palestras designados. Mais ECON 255 (F, S) Econometria Uma introdução à teoria e prática da análise econômica quantitativa aplicada. Este curso familiariza os alunos com os pontos fortes e fracos dos métodos empíricos básicos utilizados pelos economistas para avaliar a teoria econômica em relação aos dados econômicos. Enfatiza os fundamentos estatísticos das técnicas de regressão e a aplicação prática dessas técnicas na pesquisa empírica. Os exercícios de computador fornecerão experiência em usar os métodos empíricos, mas nenhuma experiência com o computador anterior é esperada. Altamente recomendado para os alunos que consideram a formação de pós-graduação em economia ou política pública. Mais ECON 299 (F) Liberalismo econômico e seus críticos O liberalismo econômico sustenta que a sociedade é melhor se as pessoas desfrutem da liberdade econômica. Os críticos apontam para o que eles acreditam que essa posição ignora ou o que ela incorretamente assume e, portanto, como isso faria uma política ruim. Este curso explora a relação entre política e economia através da pesquisa de influentes trabalhos de economia política. Sua primeira parte examina os principais pensadores em relação ao desenvolvimento histórico do capitalismo na Europa Ocidental e nos Estados Unidos: o liberalismo clássico de Adam Smith, o socialismo revolucionário de Karl Marx e as idéias reformistas de John Stuart Mill e John Maynard Keynes. A segunda parte considera escritores do meio do século 20 que revisam e criticam o liberalismo econômico de uma variedade de perspectivas, incluindo Friedrich Hayek, Milton Friedman, Ronald Coase, Arthur Okun e Albert O. Hirschman. A terceira parte analisa contribuições recentes significativas relevantes para os temas do curso, com aplicações para questões de políticas públicas atuais, incluindo temas como: relações de poder e autonomia no local de trabalho, informações assimétricas e seguro social, desigualdade econômica e justiça distributiva, igualdade de oportunidades, economia Dos bens posicionais de saúde e dos fundamentos morais do capitalismo equidade intergeracional e mudança climática nacionalismo econômico e da nova teoria do comércio economia econômica comportamental e crises financeiras e busca de renda. A combinação do foco histórico da primeira parte do curso com a discussão de questões políticas modernas e debates na última parte do curso permite que você aprecie o diálogo em curso entre as opiniões clássicas e contemporâneas da economia política. Mais ECON 351 Política fiscal Não oferecida este ano O sistema fiscal é um elemento importante da política pública. Além de aumentar a receita para os programas de gastos governamentais, os formuladores de políticas usam o sistema tributário para redistribuir recursos e promover uma variedade de políticas econômicas. Por exemplo, o sistema fiscal dos Estados Unidos tem regras específicas para incentivar poupança, educação e investimento. Inerentemente, muitas opções de política fiscal envolvem trade-offs entre equidade e eficiência. O objetivo deste curso é esclarecer os objetivos e as possibilidades da política fiscal, principalmente através de um exame da política tributária federal dos EUA (embora a busca de possíveis reformas possa nos levar a examinar políticas de outros países). O curso examinará a escolha da base tributável (receita ou consumo), notações de justiça na tributação (por exemplo, a estrutura tarifária), a escolha de tributar o lucro das empresas separadamente da renda pessoal e uma variedade de questões específicas de política tributária (por exemplo, aposentadoria Poupança, cuidados infantis, imposto sobre o casamento, imposto sobre os ganhos de capital e tributação da habitação). Mais ECON 352 (S) Desenvolvimento e Regulação Financeira Este curso enfoca o sistema financeiro e seu papel no desenvolvimento econômico. A primeira parte explora as funções de finanças, como contribui para o crescimento e analisa diferentes modelos de desenvolvimento do setor financeiro e sua influência sobre a forma como os governos viram o setor. Examinará as experiências com a repressão do setor financeiro e a posterior liberalização e investigará as causas e o impacto das crises financeiras. Em seguida, estudará como tornar as finanças eficazes e como prevenir ou minimizar as crises, analisando o papel dos governos como regulador, supervisor, setter padrão, detentor de contrato e proprietário. Nesta parte final, será dedicada atenção ao papel das instituições (leis, normas, cultura) e incentivos ao desenvolvimento do setor financeiro. Mais ECON 356 Métodos empíricos em macroeconomia Não oferecido este ano A macroeconomia e os campos relacionados nas finanças e desenvolvimento internacionais evoluíram técnicas empíricas especializadas, conhecidas geralmente como macroeconometria, que são projetadas para enfrentar os desafios práticos que os dados e as questões empíricas colocam nesses campos . O curso irá introduzir a teoria e a aplicação dessas técnicas, e os alunos aprenderão como implementar essas técnicas usando dados do mundo real para abordar questões práticas extraídas dos campos de macro, finanças internacionais e desenvolvimento. Os tópicos a que essas técnicas serão aplicadas incluem análise do ciclo econômico, fontes de volatilidade da taxa de câmbio e determinantes do crescimento econômico de longo prazo. O curso também está disponível para estudantes de graduação com permissão do instrutor. Graduados com sólidos antecedentes de matemática podem querer se inscrever diretamente no Econ 471 em vez deste curso. No entanto, aqueles que procuram um curso de transição podem querer se inscrever neste curso antes de tomar Econ 471. mais ECON 357 T (S) A Economia do Ensino Superior Este tutorial utilizará teoria econômica e métodos econométricos para compreender uma variedade de questões relacionadas à Economia de faculdades e universidades. Em particular, discuta bem a lógica das empresas sem fins lucrativos, a estrutura financeira de uma faculdade ou universidade, a concorrência no mercado de ensino superior, as políticas que afetam a taxa de matrícula e a ajuda financeira, os retornos individuais e sociais dos investimentos no ensino superior e Características distintivas dos mercados de trabalho acadêmicos. Será dada especial atenção às faculdades seletivas de artes liberais. Mais ECON 358 Comércio internacional Não oferecido este ano Esta classe examinará as causas e conseqüências da globalização. Vamos abordar os clássicos modelos de comércio internacional e discutir a relevância empírica dessas teorias. Outras forças globais, como imigração, investimento estrangeiro direto, deslocalização, políticas comerciais e acordos comerciais também serão examinadas. Ao longo do curso, vamos nos concentrar nos fatores que geram a globalização, bem como o bem-estar e as implicações distributivas. Mais ECON 359 (S) Macroeconomia dos países em desenvolvimento II Os países em desenvolvimento não acham difícil iniciar um crescimento rápido, mas acham difícil sustentá-lo. Os jorros de crescimento são frequentemente descarrilados por choques macroeconômicos. À medida que os países em desenvolvimento se tornam cada vez mais abertos às interações comerciais e financeiras com o resto do mundo, tais choques podem se tornar mais frequentes e potencialmente mais graves. 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 central bank independence, the design of monetary and exchange rate regimes, capital account regimes, and various types of fiscal policy institutions and policy regimes, including fiscal rules. more ECON 360 International 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 361 Political 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 nations 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 countrys 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 363 Money and Banking Not offered this year 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 effect 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 364 (F) Theory of Asset Pricing 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 366 (S) International Trade and Development 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 isnt 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 T (S) Poverty and Public Policy 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 ChildrenTemporary Assistance to Needy Families, Supplemental Nutrition Assistance ProgramFood Stamps, MedicaidChildrens 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 InspirationPerspiration: The Economics of Innovation and Technological Change Not offered this year From agriculture, to the steam engine, to modern biotechnology, technological change drives economic growth and rising living standards. Whether we are talking about great inventions or small tweaks, the tools of economics can help us understand how new technologies emerge, spread, and become obsolete. In this course, we will first take a microeconomic approach to examining the creation of new knowledge, the translation of ideas 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, and how different market structures can influence the resulting trajectory of technological change and utilization. We will then confront the macroeconomic implications of innovation, and discuss how government policies can foster technological change and address its consequences. Throughout the course, we will explore historical and contemporary case studies of the creation, exploitation, and consequences of innovation. more ECON 378 (F) 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 379 (S) Program Evaluation for International Development 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 Population Economics Not offered this year 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 381 (S) Global Health Policy Challenges 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, HIVAIDS, 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 383 Cities, 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 385 (S) Games and Information This course is a mathematical introduction to strategic thinking and its applications. Ideas such as Nash equilibrium, commitment, credibility, repeated games, incentives and signaling are discussed. Examples are drawn from economics, politics, history and everyday campus life. more ECON 386 Environmental 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 387 (S) Economics of Climate Change 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 wealthy and poor countries. Next we will study adaptation, including capital investments and behavioral changes, and insurance. 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 (Probably not zero.) Why have countries had such a hard time agreeing on GHG emissions reductions, and how might we overcome such difficulties In considering policy, we will employ not only theoretical predictions, but also the growing body of evidence from attempts to regulate GHGs. Examples include Chinas 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. Finally, we will discuss the limits of the economic approach to climate change, pointing out questions on which economic theory provides little guidance. more ECON 388 Urbanization 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 countrys 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 red uce 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 T Financial 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 T (F) Economic Analysis of Housing Markets 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 393 International Macroeconomics Not offered this year This model based course examines the workings and interactions among national economies in the global arena and the implications for macroeconomic policy analysis. Topics include analysis of international financial asset markets, international capital flows and the transmission of business cycles internationally. A series of both factual and counterfactual case studies are developed in class and used to study the implications for central bank exchange rate policies, monetary policies, trade policies, currency and trade unions such as the EEC and NAFTA, and international policy coordination issues among the G7 and members of the International Monetary Fund more broadly. more ECON 394 (F) European Economic History 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 IITo 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 ECON 397 (F) Independent Study: Economics Students are invited to apply to undertake independent study on subjects of their own choosing. Interested students should consult with a faculty member about designing an appropriate project well in advance of spring registration. more ECON 398 (S) Independent Study: Economics Students are invited to apply to undertake independent study on subjects of their own choosing. Interested students should consult with a faculty member about designing an appropriate project well in advance of spring registration. more ECON 451 (F) Topics in Macroeconomics This seminar explores some of the central topics in macroeconomics, including economic growth, saving and investment, business cycle fluctuations, monetary policy, and financial crises. The first part of the course focuses on long-run economic growth. Using economic theory and evidence, we will attempt to answer some of the most important questions in all of economics: Why are some countries poor and other countries rich What can governments do to achieve faster and environmentally sustainable rates of growth What are the growth consequences of sustained budget deficits Understanding the behavior of the economy in the long run is one of the key tasks of macroeconomics. But as we have seen during the recent financial crisis, the short run matters as well. In the second part of the class, we will turn our attention to economic downturns and financial crises. Using historical work on past crises and the accumulating evidence on the current one, we will study a host of short-run topics, including financial markets, the effectiveness of fiscal and monetary policies, consumer expectations, asset prices, employment, and productivity. Because this is an advanced class in macroeconomics, we will approach these issues as practicing economists working with the best possible models and empirical techniques. Students will have an opportunity to apply these methods in a required end-of-term research paper. more ECON 453 Research in Labor Economics Not offered this year The labor market plays a crucial role in peoples lives worldwide. In industrialized countries, most households contain at least one wage earner, and income from working represents the largest component of total income. Thus analyses of the labor market are fundamentally relevant to both public policy and private decision-making. This seminar will explore the structure and functioning of the labor market using theoretical and empirical tools. Topics to be covered include labor supply and demand, minimum wages, labor market effects of social insurance and welfare programs, the collective bargaining relationship, discrimination, human capital, immigration, wage distribution, and unemployment. As labor economics is an intensely empirical subfield, students will be expected to analyze data as well as study the empirical work of others. more ECON 455 Research in Economic History Not offered this year Historical approaches to understanding economic development and current economic policy issues are increasingly in vogue. This seminar will focus on how economic historians marshal evidence and utilize the empirical tools of economics to investigate questions of a historical nature that often have direct implications for modern society. Possible topics to be covered include the role of political change in economic development, trade and migration, education and human capital accumulation, technology and innovation policies, and the evolution and workings of domestic and global factor markets. Students will be expected to not only analyze recent scholarship in economic history, but they will also produce and present their own original research over the semester. more ECON 456 Income Distribution Not offered this year This course examines the distribution of income in the U. S. with emphasis on how it is affected by taxes, transfers, and other government programs. Questions to be addressed may include the following: How have wage inequality and the skill premium evolved over time What factors explain a rising skill premium How does income differ with race and gender How is poverty measured, and what are the factors associated with living in poverty How do government programs change the distribution of income How much income mobility is there across generations Students will become more critical readers of current economic literature, and will apply their skills in conducting empirical research. more ECON 457 (S) Public Economics Research Seminar In this class, students will learn how to read, critically evaluate, and begin to produce empirical research on important and interesting public policy questions. Topics will be selected from across the spectrum of public economics issues and may vary from year to year. Examples of specific topics that may be covered include education, environmental policy, taxation, income inequality, anti-poverty policy, health care policy, the economics of crime and corruption, and the implications of behavioral economics and psychology for public policy (we will typically only cover a subset of these topics). Applications will be drawn mostly from the United States but we will also consider some issues and evidence from other industrialized and developing countries. The course will especially emphasize the critical analysis of empirical evidence on public policy questions. more ECON 458 T Economics of Risk Not offered this year Risk and uncertainty are pervasive features of economic decisions and outcomes. Individuals face risk about health status and future job prospects. For a firm, developing new products is risky furthermore, once a product has been developed, the firm faces product liability risk if it turns out to be unsafe. Investment decisions--from managing a portfolio to starting a business--are also fraught with uncertainty. Some risks are environmental--both manmade problems and natural disasters other risks include the possibility of terrorist attack and, more locally, issues of campus safety. This tutorial explores both the private market responses to risk (e. g. financial markets, insurance markets, private contracting, and precautionary investments and saving) and government policies towards risk (e. g. regulation, taxation, and the legal system). From a theoretical standpoint, the course will build on expected utility theory, diversification, options valuation, principal-agent models, contract theory, and cost-benefit analysis. We will apply these tools to a wide variety of economic issues such as the ones listed above. One goal of the course is to discover common themes across the disparate topics. Students will be expected to read and synthesize a variety of approaches to risk and uncertainty and apply them to various issues. more ECON 459 Economics of Institutions Not offered this year Why are some countries so rich and others so poor Typical answers to this question have emphasized proximate causes like factor accumulation (i. e. growth in a nations physical and human capital endowments), technological progress, and demographic change. The institutional approach to this question, however, emphasizes the role of sociopolitical and cultural factors, broadly defined, as a fundamental determinant of its economic prosperity. The central idea is that the added-value of economic activities to society at large is primarily conditioned by the social arrangements within which these activities occur. Specifically, these social arrangements invariably generate a structure of private incentives, which can either promote behavior that is conducive to economic development or lead to the pursuit of private gain at the expense of the common good. As such, the key to economic development in this view is the establishment of a suitable set of institutions and structures of governance in society. This course will survey the rapidly expanding literature on the topic of institutions and economic development, with an emphasis on the latest empirical evidence that has come to bear in the context of both historical and contemporary societies. The purpose of the course will be to expose students to the core ideas and empirical tools employed at the frontier of research in this area of inquiry. The readings will primarily comprise published journal articles and unpublished working papers, and students should expect to apply concepts from across all the core courses in economics. more ECON 460 Economic Development of China Not offered this year This course is an introduction to the economic development of China in the post-1978 period. It seeks to provide an overview of the process by which China grew from an economic backwater to the second largest economy in the world, with a particular focus on rural development and the growing gap between rural and urban incomes human capital and education and health and gender in the Chinese context. In addition, the course has the goal of familiarizing students with current economics research on Chinese topics and enabling them to be informed consumers of this research. more ECON 461 Computable General Equilibrium (CGE) Modeling Not offered this year The Computable General Equilibrium (CGE) model is an important tool for applied policy work. CGE models are the primary tool for many government organizations when evaluating policy alternatives and are also used extensively by various NGOs when deciding aid and policy recommendations. The great advantage of these models is that they capture the general equilibrium feedback effects of policy proposals on various sectors of the economy. This is of great importance to applied work, as this allows the identification of the winners and losers from potential policies. The class will begin with a general overview of CGE models. This overview will be rigorous and mathematical. This course will use the free programming packages GAMS and MPSGE to implement various CGE models using real world data. While no previous computer experience is required, some familiarity with Excel is recommended. During the latter part of the course, students will create a CGE model for a country of their choice and conduct policy experiments using their model. Interested students could continue this project as a potential thesis topic. more ECON 463 (S) Financial History What can we learn from financial history to understand the successes and failures of finance today, and how finance and politics interact This course opens with a brief survey of some of the major characteristics, issues, and challenges of financial systems today, and then examines earlier experience with these phenomena. Topics to be examined include: the role of finance in economic development historically, including in the financial revolutions from Northern Italy, the Netherlands, Britain and the US the relationship between finance and government, and the extent to which it has changed over time the lessons from early asset bubbles for modern financial systems the effect of institutions (laws, norms, and culture) and political systems in shaping the impact of finance, as illustrated by comparisons between Mexico and the U. S. among other cases and lessons from U. S. financial history for policies today. The course also examines the tools that were developed in earlier epochs to deal with different risks, evaluates their efficacy, and considers lessons for modern financial regulation. more ECON 465 (F) Pollution and the Labor Market If your home town has polluted air, does that reduce your wage Do you work less Are you less likely to finish high school These are specific versions of an important general question: how does pollution affect labor market outcomes The answer matters for individual decisions (where to live) and government policies (air pollution regulations). This seminar begins from theories of optimizing worker behavior in the presence of pollution. Building on this foundation, we will critically evaluate new empirical research into the impacts of pollution on human capital, labor supply, and productivity. We will also study the impact of pollution regulations on wages and employment. Included papers will cover both developed and developing countries. more ECON 467 T Development Successes Not offered this year Although living standards in most of the worlds poor countries have increasingly fallen behind those of the rich industrial countries, a relatively small number of countries that were quite poor in the middle of the last century have achieved dramatic improvements in their incomes since then. These development successes include countries such as Japan, the four dragons (Hong Kong, Korea, Singapore, and Taiwan), the MIT economies (Malaysia, Indonesia, and Thailand), the Asian giants of China and India, as well as non-Asian economies as diverse as Botswana, Chile, and Turkey. This tutorial will explore why these countries have apparently succeeded where many other poor countries have failed. A particular focus of the course will be on extracting insights from the experiences of these success cases about the broad development strategies that have been advocated over the past 50 years by scholars as well as by the international financial institutions. more ECON 468 Your Money or Your Life: Health Disparities in the United States Not offered this year A 25-year-old man living in a high-income household can expect to live 10 years longer than his low-income counterpart. There are also stark differences in mortality and health by education, employment status, race, immigrant status, region, and gender. This course will explore many of the potential explanations for health disparities, including access to insurance and health care, health behaviors, stress, environmental exposure, and intergenerational transmission of health. We will emphasize causal inference and focus on assessing the quality of evidence. We will also investigate how government policies contribute to or ameliorate health disparities in the U. S. more ECON 470 (S) The Indian Economy: Development and Social Justice The Indian economy has grown rapidly in the last two decades, but poverty has declined relatively slowly. Is this the persistence of long-standing historical disadvantages such as those faced by Scheduled Castes and Tribes Does this reflect failures in policy, in areas such trade or labor law Or is the quality of governance, especially the level of corruption, primarily to blame We will use the traditional theoretical and quantitative methods of an economist to consider these questions, and, consistent with the goals of the Exploring Diversity Initiative, consider how they are shaped by power, privilege, and the social location of the narrator. more ECON 471 (F) Topics in Advanced Econometrics The course uses both a practical and conceptualtheory based approach, with emphasis on methods of structural identification of dynamics in VARs and cointegration analysis, both in conventional time series and panel time series which contain spatial dimensions. The course is Well suited for students considering empirically oriented honors theses in fields that employ these techniques, such as macro, finance, growth, trade and development. It is also well suited for students majoring in economics, statistics or mathematics who simply wish to expand their econometrics training and understanding to a more advanced level, or wish to pursue an econ honors thesis in econometrics. more ECON 472 (F) Macroeconomic Instability and Financial Markets This advanced course in macroeconomics and financial theory attempts to explain the role and the importance of the financial system in the global economy. The course will provide an understanding of why there is financial intermediation, how financial markets differ from other markets, and the equilibrium consequences of financial activities. Rather than separating off the financial world from the rest of the economy, we will study financial equilibrium as a critical element of economic equilibrium. An important topic in the course will be studying how financial market imperfections amplify and propagate shocks to the aggregate economy. The course may cover the following topics: the determination of asset prices in general equilibrium consequences of limited asset markets for economic efficiency theoretical foundations of financial contracts and justifications for the existence of financial intermediaries the roles of financial frictions in magnifying aggregate fluctuations and creating persistence and instability the role of leverage and financial innovation in fueling financial crises. more ECON 473 Microfinance Not offered this year Unequal access to finance (loans, savings, insurance) contributes to the persistence of poverty in developing countries. We review evidence that the entrepreneurial poor lack access to loans, and discuss how repayments can be enforced even when borrowers do not have collateral. We discuss how recent innovations in micro-insurance can reduce vulnerability. We will study the role of governments and donors in equalizing financial access through subsidies or targeting. Finally, we shall explore how microfinance can empower women within the household. Readings include current empirical and theoretical research in development economics. This course is an EDI course because it critically analyzes how microfinance interventions can reduce inequality both within and across households. more ECON 475 Advanced Microeconomic Theory Not offered this year The course will cover classical topics in voting, resource allocation, matching, bargaining and time permitting, basic elements of auction design. It will discuss important models and fundamental results in the area. Formal arguments and proofs will be an integral part of the course. The course will be useful for those planning to attend graduate school in economics. It will also be appropriate for students with a basic mathematical background and an interest in economic theory. more ECON 476 (F) Behavioral Economic Theory and Methods Behavioral economics emphasizes that economic models should account for the psychological plausibility of its assumptions and consequences. This course will review the ways in which prominent behavioral economics models of decision-making differ from classical models found in standard microeconomics textbooks, including how these differences add to our understanding of the psychological processes that underlie economics. The material will also introduce the many methods that behavioral economists use in order to empirically verify these models, including laboratory experiments, biological measures (e. g. fMRI), field experiments, and observational data. Class discussions will cover applications of these behavioral models to many disparate contexts such as consumer marketing, public sector policy, asset markets, and managerial decision-making. Students will be expected to analyze academic papers that are appropriate for advanced undergraduate economics students. more ECON 477 (S) Economics of Environmental Behavior A community maintains a fishery a firm decides whether to get a green certification you choose to fly home or stay here for spring break: behaviors of people and firms determine our impact on the environment. Well use economics to model environmental behavior and to consider how policies can help or hurt the environment. Topics well study include: voluntary conservation, social norms and nudges, firm responses to mandatory and voluntary programs, and boycotts and divestment. more ECON 491 (F) Honors Seminar: Economics This course is a research seminar for candidates for honors in economics. Each candidate prepares an honors thesis. Candidates will meet as a group to discuss problems common to all of them (such as empirical methods, data sources, and theoretical approaches) and each one will report on hisher work at various stages for criticism by the group as a whole. Some work is required during the preceding semester. more ECON 492 (S) Honors Seminar: Economics This course is a research seminar for candidates for honors in economics. Each candidate prepares an honors thesis. Candidates will meet as a group to discuss problems common to all of them (such as empirical methods, data sources, and theoretical approaches) and each one will report on hisher work at various stages for criticism by the group as a whole. Some work is required during the preceding semester. more ECON 493 (F) Honors Thesis: Economics A year-long research project for those honors candidates admitted to this route to honors. more ECON 494 (S) Honors Thesis: Economics A year-long research project for those honors candidates admitted to this route to honors. more ECON 501 (F) Economic Growth and Development This course introduces some of the major theories and ideas about economic growth and development. Motivated by a number of stylized facts from cross-country data, we will begin by posing a series of questions: Why are some countries rich and others poor Why have some countries grown at high rates over extended periods of time, while others have experienced little or no growth Do all economies face comparable challenges to achieving sustained economic growth Will poor countries catch up to rich countries or are they doomed to stagnate in a poverty trap To answer these big questions, we will explore the underlying mechanisms of economic growth. What role is played by savings and investment (i. e. the accumulation of physical capital) What is the influence of population growth How important are investments in human capital (i. e. education and population health) How important are technological differences across countries How much significance should we ascribe to differences across countries in geographical characteristics How much should we ascribe to differences in the quality of institutions For each question, we will explore different theoretical and empirical strategies developed by economists to answer the question, ranging from formal models to historical and anecdotal evidence to cross-country growth and development regressions. We will evaluate the usefulness of the different approaches to each question for informing development-promoting and poverty-alleviation policies, and we will also discuss the reasons why so many important questions about economic growth continue to remain difficult to answer. more ECON 502 (F) StatisticsEconometrics This course focuses on basic methods of bringing economic theory and data together to provide empirical guidance for policy formulation, including use of computers in econometric analysis. This course covers techniques of econometric analysis using a moderate level of mathematical exposition. more ECON 502 Institutions and Governance Not offered this year Over the last two decades economists have become increasingly aware of the importance of the social infrastructure at various levels of economic activity: capable and honest government officials must be available to formulate and implement policies, markets must be supported by suitable institutional frameworks, property rights must be secure, and contracts reliably enforced. Even the structure of the household, the smallest institution analyzed by economists, has been shown to have an important influence on economic development. This course will survey the growing literature on institutions and governance. more ECON 503 (F) StatisticsEconometrics: Advanced Section The course introduces students to the statistical methods used by economists, including those studying policy questions. The focus is on applications. Students will also work with Stata, a software widely used by economists. more ECON 504 (F) Public Economics in Developing Countries This class is about microeconomic and empirical analysis of government expenditure programs in developing and transitional countries. It provides tools for understanding the effects of government policies, as well as a useful conceptual framework for analyzing normative questions such as what role should government play in the economy and what is a good policy The course begins by considering the efficiency of market economies, and rationales for government intervention in the market, such as public goods, externalities, information-based market failures, imperfect competition, and equity. We also consider ways that human behavior might deviate from perfect rationality, and what that might imply for policy. Along the way, we apply these concepts to various examples of policy issues, including, among other things, the environment, education, health, infrastructure, security, social insurance, and aid to the poor. We then turn to the general question of how to make the government work better, addressing questions such as the following. When is it better to have the government own and produce things, and when is it better to privatize What are the incentives of politicians and government employees, and how does the design of political and budgetary institutions affect the degree to which they serve the public interest How should responsibilities be divided up between the central government and local governments, and what are the advantages and disadvantages of decentralization What can be done to improve the delivery of basic services For example, how might one address problems of corruption and absenteeism Throughout the course, we consider examples of empirical research, and to facilitate this, we will occasionally introduce econometric tools that are particularly useful for microeconomic policy evaluation. more ECON 505 (F) Developing Country Macroeconomics The macroeconomic structures of developing countries tend to be very different from those in high-income countries, and their macroeconomic policy environments also differ in important ways from those in rich countries. This course is intended to introduce students to a set of models that is particularly suitable for analyzing macroeconomic performance in developing countries, as well as to some analytical tools that help us understand why such countries have often experienced a variety of macroeconomic crises, including sovereign debt, currency, and banking crises. more ECON 506 (F) Fundamentals of Developing Country Macroeconomics This is a practically oriented course in macroeconomic theory and policy. It begins with a review of core concepts and definitions. It then discusses the contributions of households and firms to aggregate production and spending. Next is an introduction to monetary and fiscal policy. It goes on to develop a complete macro model, which is then used to discuss some of the monetary, fiscal and exchange rate policy issues faced by developing and emerging market economies. The class is offered as an alternative to Econ 505 for those not intending to specialize in macroeconomics. Consequently, it does not qualify as a prerequisite for Econ 515. more ECON 532 T (S) Inclusive Growth: The Role of Social Safety Nets Designing and implementing effective national strategies to promote inclusive economic growth can require difficult policy reforms, sometimes with adverse short-term impacts for vulnerable groups within society. Social safety nets provide a pro-poor policy instrument that can balance trade and labor market reform, fiscal adjustments (such as reduced general subsidies) and other economic policies aimed at enabling better market performance. In addition, social safety nets help the poor to cope with shocks to their livelihoods, promoting resilience, human capital development and sometimes high-return risk-taking. This tutorial will offer students the opportunity to explore the role of social safety nets in promoting inclusive economic growth, drawing on case studies from Africa, Asia, Latin America and Eastern Europe. The first part of the tutorial will define social safety nets within the broader context of social protection, examining the diversity of instruments and their linkages to economic growth. The second part will delve more deeply into the design and implementation of effective interventions, assessing program choice, affordability, targeting, incentives and other issues. The third part will analyze the role of social safety nets in supporting economic growth strategies, drawing on international lessons of experience. more ECON 534 T (S) Long Term Fiscal Challenges This tutorial will address the conceptual and theoretical issues that confront policy makers when they face policy challenges that are likely to emerge only over the medium - to long-term and that have important budgetary implications. It will explore the strategies and approaches that a number of countries have attempted to develop to bring the long-term into their current policy and budgetary planning processes. Students will be exposed to different long-term challenges that have important budgetary implications, including aging populations, health care, climate change, energy and infrastructure, and water. The course will consider the specific policy challenges that arise for each and the ways in which different countries are addressing them. more Taught by: Peter Heller ECON 535 T (S) International Financial Institutions This tutorial will explore the role of official international financial institutions in the global economic and financial system, their relations with members, proposals for how they might be reformed, and issues that they face. The focus will be principally on the International Monetary Fund, and to a lesser extent the World Bank, the Bank for International Settlements and Financial Stability Board. Topics and readings will focus on such issues as: the roles and governance reform of the IMF and World Bank lessons from their performance in international crises initiatives of the Fund and Bank the global adjustment process financial system stability governance reform lending programs the management of international reserves and provision of advice to members. Participants will meet in pairs with the faculty member. Each week, one student will prepare a policy paper and submit the paper to the professor and to the other student in advance of the meeting. During the meeting, the student who has written the paper will present an argument, evidence, and conclusions. The other student will provide a critique of the paper based on concepts and evidence from the readings and his own research and experience. The professor will participate in the discussion after each participant has presented and ask questions that highlight or illustrate critical points. more Taught by: Nancy Birdsall ECON 540 (S) Research Studies In this course, each Fellow carries out an individual research study on a topic in which he or she has particular interest, usually related to one of the three seminars. The approach and results of the study are reported in a major paper. Research studies are analytical rather than descriptive and in nearly all cases include quantitative analyses. Often the topic is a specific policy problem in a Fellows own country. Mais