Global Arc

Covers the economic analysis of crime and the criminal justice system, including criminal behavior, law enforcement, crime prevention, sentencing, capital punishment, organized crime, and the war on drugs. The primary goal of the course is to develop economic thinking to gain insight into the behavior of the key actors (potential offenders, potential victims, and the many parts of the enforcement system) that determine crime outcomes. The last third of the course analyzes and evaluates policies to prevent or reduce crime.

An introduction to the ethics of market exchange and of economic regulation intended to promote ethical goals. We ask how ethical commitments evolve, and how they influence competition and cooperation. We consider the moral dimension of outsourcing, sweatshops, wage gaps, price gouging, price discrimination, time-inconsistent preferences and policies that exploit them ("nudging"), trade in repugnant goods (such as human organs), poverty, and the inequality of income and health. Prerequisite: ECO 100. Two 90-minute lectures.

A survey of the history of economics, with emphasis on the origins, nature, and evolution of leading economic ideas. This course will situate economic ideas in their historical context, from Aristotle to early 20th century writers, to provide a deeper understanding of economic life and theories of it, emphasizing foundational issues such as the nature of human action and the social good; the role of the state in the economy; and the social and economic consequences of property, prices, money, production, trade and other defining attributes of commercial society. Two 90-minute lectures. Prerequisite: ECO 100.

Wealthy countries in the twenty-first century face a triple social crisis of rising inequality, economic stagnation, and failing political legitimacy; many observers blame free markets for these seemingly intractable problems. This course will explore the counter-intuitive idea that true free markets might actually be able to solve these problems by adopting radically new social institutions. These markets would upend property relations, traditional conceptions of democracy and international migration. We will critically interrogate such unconventional ideas and explore avenues for applying, disseminating and organizing around them.

This course studies the impact of recent technological innovations in the financial sector. We will first study the microeconomic principles of using big data to design credit rating systems, financial platforms, digital tokens, and smart contracts. We will then study a range of applications such as peer-to-peer lending, cryptocurrency valuation, crowdsourcing, micro-credit, green contracting and central bank digital tokens. Finally, we will study the macroeconomic impact of fintech on the broader economy.

Explores basic themes in modern game theory and information economics. Non-cooperative solution concepts for games will be developed and applied to the study of repeated games and dynamic interaction in oligopolistic industries, reputation formation, auctions, and bargaining. Prerequisites: MAT 175 or MAT 201, or equivalent. Some basic knowledge of probability theory is assumed. Two lectures, one precept.

Questions at the intersection of politics and economics will be analyzed using economic methods. Particular emphasis will be placed on mathematical and game theoretic methods. The course will cover economic models of political institutions, such as elections or political parties. Topics include lobbying and interest groups, political business cycles, economic reform, and the size of government. Two 90-minute lectures. Prerequisite: MAT 203 or equivalent, or permission of instructor.

This course will explore how technology-based start-up ventures are founded, managed and financed. Specific emphasis will be put on the early stages of development. The goal is to offer perspectives on the "two sides of the coin": the entrepreneur's perspective and the financier's perspective and in particular the venture capitalist.

This course studies the asset allocation decisions and overall management of the risk and return characteristics of portfolios. It focuses on quantitative approaches to portfolio optimization, including dynamic strategies to control risks and to achieve investment goals; empirical studies of asset returns; and the money management industry. Prerequisites: ECO 202 or ORF 245; ECO 310; ECO 362 (no exceptions). Two 90-minute lectures, one precept.

A study of the assets and institutions of international financial markets. A key difference between these markets and others is the role of exchange rates relating the value of two or more national currencies. The course studies the market-making institutions, the market conventions and market practices as well as the interrelationships between different assets, their pricing, their trading and their use by corporations. Prerequisites: MAT 175 and ECO 202 or equivalent. Two 90-minute lectures.