Global Arc

This course will introduce students to the economics of the music industry. The music industry will be very broadly defined, encompassing genres from Rock and Roll to classical music, and activities from music lessons to live concerts and digital recordings. Economic incentives influence virtually all aspects of the music business, from the music that is produced to the devices that carry it for listeners, and from the amount of touring that bands do to the prices that fans pay to attend a live performance. The music industry also provides a unique laboratory for studying of a market that is undergoing rapid technological disruption.

This course builds on your knowledge of microeconomics from ECO 100. The general themes are (1) choices made by individual consumers and firms, (2) equilibrium from the interaction of these choices in markets or similar institutions, and (3) the role of government policy in improving economic outcomes. In each case, the analysis will be more in depth than it was in ECO 100. Some new concepts and techniques will be developed, especially for studying behavior under uncertainty, and strategic interactions (game theory).Prerequisites: 100, MAT 175 or equivalent. Two 90-minute lectures, and one precept.

The determinants of national income, unemployment, inflation, interest rates and exchange rates. Includes analyses of business cycles, monetary and fiscal policies, consumption, investment, economic growth, and issues in international monetary macroeconomics. Two lectures, one precept. Prerequisites: ECO100 and ECO101.

The objective of this course is to prepare students for basic empirical work in economics. In particular, topics will include basic data analysis, regression analysis, testing, and forecasting. Students will be provided with the opportunity to use actual economic data to test economic theories. Prerequisites: 100 or 101, and 202, or ORF 245; MAT 103 or equivalent. Two 90-minute classes and one precept.

This course is an introduction to experimental economics: its methods and some recent applications, both in the laboratory and the field. Rather than rely on a standard textbook, students will be expected to read and analyze current research in experimental economics. The course will provide a summary of recent experimental findings in different areas, and explain how to gather and analyze data using experimental methods. Students will be asked to develop ideas for their own experiment. This course will require critical writing and thinking and active class participation, as well as familiarity with basic econometric methods.

Topics include consumer and firm behavior, market equilibrium, efficiency, an introduction to game theory, and information economics. Uses multivariable calculus and linear algebra to treat the topics in greater depth and to better prepare for advanced courses. Prerequisites: MAT 201 or ECO 201, or instructor permission. Two lectures, one precept.

This course examines the determinants of economic growth, business cycle fluctuations, and the conduct of monetary and fiscal policy. The first part of the course develops a framework for the analysis of households' consumption and savings behavior and firms' production decisions, and uses that to analyze long-run growth and financial crises. The second part of the course extends that analysis to examine business cycle fluctuations, including inflation, unemployment. Current issues in macroeconomic and financial policy are discussed throughout. Prerequisites: MAT 201 or ECO 201, or instructor permission. Two lectures, one precept.

Statistical analysis of economic data. The two-variable regression model, multiple regression. Techniques for dealing with violations of the regression model's assumptions, including autocorrelation, heteroscedasticity, specification error, and measurement error. Dummy variables, discrete-choice models, time series models, and forecasting. Introduction to simultaneous equations. Estimation and testing of economic models will be an important part of the course. Prerequisites: MAT 201 or equivalent and ECO 202 or equivalent or instructor permission. MAT 202 is recommended. Two 90-minute lectures, one precept.

This course provides hands-on experience in econometric analysis designed to help students to acquire the skills necessary to carry out their own empirical analyses in economics. Various aspects of empirical research in economics will be covered, including development of testable economic models, appropriate use of data, identification and causal inference, and specification and techniques for estimation of econometric models. Prerequisites: 302 or 312; and calculus. Two lectures, one precept.

By extending ECO 300-level macroeconomics, we develop alternative macroeconomic frameworks with financial frictions to understand business cycles, financial crises and public policy. The lecture begins with a historical overview of financial crises and basic financial accelerator models which emphasizes the interaction between borrowing constraint, asset prices and aggregate production. We then introduce financial intermediaries and government to study banking crisis, credit policy and macro prudential policy. Two 90-minute lectures, one precept.