Antitrust and Regulation (ECON 36100)
The course studies the influence of laws and regulations on the behavior of firms, focusing on two types of government intervention in the market: antitrust law and economic regulation. Antitrust laws define the rules by which firms must compete. Economic regulation more tightly constrains the actions of firms, requiring that they obtain approval to set prices and/or enter new markets. The focus is on current topics in both areas, including comparison of U.S. practice with that of the European Union and elsewhere.
Behavioral Economics (ECON 47100)
Students learn about human behavior in economic environments, with a strong emphasis on classroom laboratory exercises. Topics considered include behavior in a variety of markets - for example, markets with price controls, markets for financial assets and auction markets -- and behavior in social dilemmas that arise when people try to provide public goods voluntarily or when sellers try to conspire to fix prices. Students will also learn how people bargain with, trust each other, and show social preferences towards others. Decision-making and anomalies for risky and uncertain choices will also be covered.
Game Theory (ECON 45100)
In the course, economic, political, and social interactions are represented as games, in which strategies and resulting outcomes can be analyzed. The analysis of these interactions is then used to demonstrate how one can make optimal decisions under uncertainty.
International Monetary Problems (ECON 37100)
A mixture of lectures and case discussions covering historical changes in the world's monetary system, problems with balance of payments adjustments, exchange rates and foreign exchange markets, international capital markets and financial flows, the international transmission of business fluctuations, monetary and fiscal policy in an interdependent world, and crises in developing countries.
International Trade (ECON 37000)
Develops an understanding of the economics of globalization, including the movement of goods, people, capital, and ideas across countries. Using the tools of intermediate economic theory, we discuss the benefits and costs of globalization, the implications of globalization for wages, earnings, and national welfare, and their intersection with government policies.
Labor Economics (ECON 385)
The purpose of this course is to introduce important topics, theories, institutions, and policy issues relating to the functioning of labor markets. Topics to be considered include labor supply decisions, investments in human capital, compensating wage differentials, labor contract theory, unions, compensation programs, signaling in labor markets, the economics of unemployment, and government employment, retirement, and workplace safety.
Money and Banking (ECON 38000)
The course analyzes the economics of money, monetary systems, investments, and financial intermediaries in modern industrial economies. Topics considered include the origin of money and the banking industry, financial asset markets, the role of central banks, and the effects of various monetary policies. The theory will be presented side by side with current economic and financial news, and the students will learn how to track financial and economic data via The Wall Street Journal.