Economics
ECON 113 - Financial Accounting
Accounting is the language of business. One of the objectives of this course is to learn that "language." The emphasis will be on understanding financial statements both for profit and non-profit organizations. International accounting, ethics and investment decisions are also covered. This course is designed for students who desire an understanding of the elements of accounting as a component of a liberal arts education as well as for those who would like to study further in accounting or business. This course counts as a Group B elective.
Frequency: Every semester.
ECON 116 - Organizational Leadership
This course will combine a theoretical background with hands-on experience that will permit a student to begin their career-long development of their leadership talent. The traditional model of a great leader was one that was tough, visionary and determined. Today scholars of leadership have argued that a great leader is self-aware, motivated, empathetic and skilled socially. Which model is right? Are there factors common to all great leaders? We will learn from Aristotle, Winston Churchill, Steve Jobs, Ernest Shackelton's ill-fated trip to the South Pole, and the latest scholarly research. Extensive use will be made of case studies from the Harvard MBA program and guest speakers. This course counts as a Group B elective.
Frequency: Every spring.
ECON 117 - Business Negotiations
Business Negotiations will cover frameworks useful in negotiating business agreements, but the negotiating skills learned can be helpful in many settings. Starting with the classic text "Getting to Yes", students in this course will learn to implement a principled approach to negotiating by focusing on the true interests of the negotiating parties, brainstorming to find ways to improve the outcome of all parties, and identifying and defusing the most common "dirty tricks" of unprincipled negotiators. In class, students will practice negotiating each week, in a series of one-on-one and multi-party negotiating exercises. Case studies will be discussed and alumni will be invited to share negotiating experiences. This course counts as a Group B elective.
Frequency: Alternate fall semesters.
ECON 119 - Principles of Economics
Economics is the study of how people make decisions and how these decisions apply to real-world problems. Economics can help us understand income inequality within and across countries, the quality of the environment, unemployment, poverty, crime, health care, financial crises, technological change, inflation and many more issues. This course introduces the basic tools that economists use to explore these topics and will cover fundamental economic concepts like scarcity, supply and demand, costs and benefits, trade-offs, and incentives. This course is a one semester overview of both microeconomics (the study of choices firms and individual consumers make) and macroeconomics (the study of the economy as a whole). This course counts as a Group E economics course and is the prerequisite for 200-level E courses in the Economics Department.
Frequency: Every semester.
ECON 129 - Calculus-Based Principles of Economics
An introduction to the basic tools of micro- and macroeconomic analysis in a math intensive way. Microeconomics deals with consumers, firms, markets and income distribution. Macroeconomics deals with national income, employment, inflation and money. Compared to ECON 119, this class requires calculus to learn economic models and conduct economic analysis, although the two classes cover the same economic concepts and theories. This course counts as a Group E elective.
Frequency: Every year.
Prerequisite(s): MATH 135 or a qualifying AP Calculus score.
ECON 194 - Topics Course
Varies by semester. Consult the department or class schedule for current listing.
ECON 210 - Business Communications
This course is intended to help students improve their own critical communication skills and explore how those skills can be best applied in business situations. Students will polish writing skills, with sessions that focus on resumes, cover letters, and everyday business communications like email. Students will learn best practices of effective presentations and will deliver several powerpoint presentations in class. The course will use the case method to review real corporate communication issues, such as crisis management, interpersonal communications challenges, negotiation simulations and the like.
ECON 221 - Introduction to International Economics
This course explores the theoretical foundations and empirical realities of international trade flows, commercial policies (tariffs, quotas, etc.) and international finance. The course emphasizes the welfare implications of international trade and commercial policies and links these to discussion of disputes over international trade agreements. The international finance portion of the course covers the foreign exchange market, balance of payments analysis and an introduction to open economy macroeconomics. Recommended for students majoring in international studies. This course counts as a Group E elective.
Frequency: Every year.
ECON 225 - Comparative Economic Systems
This course examines the workings of economic systems from the perspective of the incentives facing the firm and consumer. The course provides an introduction to the economics of information and organization which is used to evaluate resource allocation under the specific institutional environment of different economic systems. Our understanding of the incentive system is then used to evaluate the overall economic system. The focus of the course is primarily on the U.S. economy, Japan and the former Soviet Union/Russia. As time permits the course may examine China, Germany and Central Europe. This course counts as a Group E elective.
Cross-Listed as: INTL 225
ECON 229 - World Economic History
This course presents a broad overview of world economic history. It uses concepts and models developed in Principles of Economics to explore how the interplay between geography, institutions, and technology has influenced material living standards from the Stone Age to the present. In particular, we will study the causes and consequences of long-term structural forces such as the agriculture, industrial and informational revolutions, the Malthusian trap and demographic transition, slavery, globalization, and the rise of government. We will also explore more cyclical phenomena such as wars, financial crises, economic depressions and hyper-inflations. Students will learn how economic historians use evidence to make sense of the past and the role economic history plays in guiding current policy debates. This course counts as a Group E elective.
Frequency: Once per year.
ECON 231 - Environmental Economics and Policy
This course studies the economics of public policy toward the environment. We begin by examining the problem of market failure in the presence of externalities and public goods. Then, we consider public policy responses to these market failures, including command-and-control regulations, tax and subsidy incentives, marketable pollution permits, voluntary programs, and information as regulation. We consider these policies in contexts such as local pollution, climate change, threats to biodiversity, environmental justice, international trade, and development. In addition, we learn how to measure the costs and benefits of pollution control. By the end of the semester, you will learn how economists think about environmental problems, understand the advantages and disadvantages of a range of environmental policies, be able to conduct a cost-benefit analysis, and have a complete economic analysis of an environmental problem. This course counts as a Group E elective.
Frequency: Offered occasionally.
Cross-Listed as: ENVI 231
ECON 235 - Climate Change: Science, Economics, and Policy
Combustion of fossil fuels produces carbon dioxide, which traps energy near Earth's surface and leads to warmer average global temperatures. Combustion of fossil fuels also forms the backbone of the modern economy. This team-taught course provides a framework in which to consider the costs and benefits of fossil fuel consumption in the present and over the coming decades and centuries. We use concepts from climate science and environmental economics to evaluate existing and proposed policy interventions designed to reduce fossil fuel consumption, and consider possible technological solutions to slow or reverse climate change. Among our main approaches are state-of-the-art Integrated Assessment Models; students will be exposed to several of the most commonly used models and to research from their critics. This course counts as a Group E elective. Students signing up for the course as Economics will get credit toward the social sciences general distribution requirement; those signing up for the course as Environmental Studies will get credit toward the natural sciences and mathematics general distribution requirement.
Frequency: Offered occasionally.
Cross-Listed as: ENVI 235
ECON 238 - Introduction to Entrepreneurship
This course focuses on theories and applications of Entrepreneurship to identify opportunities and solve problems around the world. Students will learn contemporary methodologies used in startup companies and early stage organizations including: Lean Startup and Human Centered Design methodologies and the Business Model Canvas framework. Students spend the semester working in teams to apply the methodologies to identify a problem and develop a solution. For their final project students will prepare a plan for their solution and present it to an external audience. This course is open to those who are interested in social entrepreneurship as well. This course counts as a Group B elective. Note: Not available to students who took Social Entrepreneurship during the fall 2016 semester.
Frequency: Spring semester.
ECON 239 - Economics of Global Food Problems
This course will examine food distribution, production, policy, and hunger issues from an economics perspective. It explores and compares food and agriculture issues in both industrialized and developing countries. Basic economic tools will be applied to provide an analytical understanding of these issues. Topics such as hunger and nutrition, US farm policy, food distribution, food security, food aid, biotechnology and the Green Revolution, the connection between food production and health outcomes, as well as other related themes will be explored in depth throughout the semester. This course counts as a Group E elective.
Frequency: Offered occasionally.
Cross-Listed as: INTL 239
ECON 242 - Economics of Gender
This course uses economic theory to explore how gender differences lead to different economic outcomes for men and women, both within families and in the marketplace. Topics include applications of economic theory to 1) aspects of family life including marriage, cohabitation, fertility, and divorce, and 2) the interactions of men and women in firms and in markets. The course will combine theory, empirical work, and analysis of economic policies that affect men and women differently. This course counts as a Group E elective.
Cross-Listed as: WGSS 242
ECON 256 - Intro to Investment Banking
This course will provide a one semester overview of investment banks. The role of equity capital markets, debt capital markets, research, sales and trading, and investment banking will be covered. Basic corporate finance techniques will be introduced. Current financial issues in the business world will be reviewed. Classroom work, case studies, and outside speakers will be utilized. The key objectives of this course are for students to obtain a solid understanding of the various disciplines within the investment banking field and to prepare themselves for interviews and internships. The course is well suited for students who are contemplating a career in investment banking, banking, or corporate finance. This course counts as a Group B elective.
ECON 258 - Introduction to Securities Analysis
This course will primarily focus on equity securities analysis (stocks) from the perspective of institutional (Wall Street) investors. Topics will include industry analysis and forecasting, financial statement analysis, fundamental company analysis and valuation methods. Students will form industry groups and will each research a company in that industry. Students will build complete historical and projected financial statement models in Excel. The end product of the course will be a company report written by each student. This course counts as a Group B elective.
Frequency: Alternate spring semesters.
Prerequisite(s): ECON 113
ECON 277 - Money and Banking
The course provides an introduction to financial markets, the banking system, monetary theory and policy, and financial crises. Our approach combines empirics and modeling to understand the importance of monetary policy over the aggregate economy, the banking sector, and financial markets. This course counts as a Group E elective.
Frequency: Alternate years.
ECON 294 - Topics Course
Varies by semester. Consult the department or class schedule for current listing.
ECON 325 - China, Russia and Central Europe in Transition
This course surveys the theoretic and empirical literature on Soviet-style central planning and the transition to a market economy. The economic history of central planning is examined with emphasis on the experience of the Soviet Union and its variants in Eastern Europe and China. The tool of analysis is the branch of economics known as the economics of organization and information, which will be used to analyze the operation, strengths, and limitations of central planning. The legacy of central planning forms the backdrop for an examination of the transition to a market economy. This course counts as a Group E elective.
Frequency: Alternate years.
Prerequisite(s): ECON 119 or ECON 129; and one 200-level Economics course from Group E electives; ECON 221 or ECON 225 are recommended. C- or higher required for all prerequisites.
Cross-Listed as: INTL 325
ECON 342 - Economics of Poverty in the US
This course focuses on the economic aspects of poverty and inequality in the United States. The course utilizes economic theory and empirical research to analyze the determinants of, and potential strategies to overcome poverty and inequality. Topics include measurement and trends of poverty and inequality, labor markets, education, discrimination, residential segregation, and immigration. The course also investigates the role of public policy in fighting poverty and inequality. There is a required service learning component in this course. This course counts as a Group E elective.
Frequency: Offered infrequently.
ECON 353 - Managerial Accounting
Planning is the key to business success. How do firms plan for the future? Setting objectives and budgets. Evaluating and rewarding employee performance. Controlling inventory, cash budgeting, and capital budgeting. Extensive use of case studies and group work. This course counts as a Group B elective.
Prerequisite(s): ECON 113. C- or higher required for all prerequisites.
ECON 354 - Deals
Deals is a unique class. Nearly all class sessions are taught by former Macalester students, most of whom graduated with an Economics major. These guest professors generally share their post-Macalester career and educational journey with you, then spend more time talking about their current or most recent business venture (some might be nonprofit), and then focus on a particular transaction or "deal". Many of the presentations will be finance-oriented. Students in Deals are evaluated in four ways, 1) by class participation, including class lunches or dinners with guest speakers, 2) by short write-ups of the guest speaker presentations, 3) by an exam, and, 4) by a research paper related to a topic raised by a guest speaker. This course counts as a Group B elective.
Frequency: Alternate years.
ECON 356 - Capital Markets
The structure, operation, regulation and economic role of financial markets and institutions; fundamental security analysis and present-value techniques; forecasts of earnings and analysis of yields on stocks and bonds; the portfolio theory and characteristic lines, betas and mutual-fund ratings; futures and options markets. This course counts as a Group E elective.
ECON 361 - Intermediate Microeconomic Analysis
In microeconomics, we study how individuals make economic choices. We pose questions like: What influences consumers' purchasing decisions? Will firms replace employees with machines if the minimum wage increases? How do concentrated markets (e.g., airlines, Amazon) affect consumers? If a firm can set different prices for different consumers, what set of prices will be optimal? How do risk and uncertainty affect investment decisions? What is the efficient amount of pollution? What role should governments play in providing resources for public goods like parks? In this course, we derive models of constrained choice to examine fundamental tradeoffs faced by individuals, firms, and governments when making economic decisions and to determine how such decisions influence market outcomes and well-being. This course counts as a Group E elective.
Frequency: Every semester.
ECON 371 - Intermediate Macroeconomic Analysis
This course will introduce students to microeconomics based, dynamic general equilibrium models of the aggregate economy. These models will be used to address the three main questions of macroeconomics: What causes long-term economic growth to vary over time and across countries? Which forces drive fluctuations in economic activity and inflation throughout the business cycle? What role, if any, do monetary and fiscal policy play in fostering economic growth and minimizing economic fluctuations? This is one of the four courses required for the economics major.
Frequency: Every semester.
Prerequisite(s): ECON 361 or permission of instructor. C- or higher required for all prerequisites.
ECON 381 - Introduction to Econometrics
Econometrics is the theory and practice of analyzing economic data. We investigate and implement methods economists use to test theories, evaluate and establish causal inference, and conduct economic forecasts. Students learn to design, conduct, and evaluate empirical work in economics and other social sciences. We apply acquired skills through a final research project that integrates secondary research, economic theory, and econometric analysis. We take a "hands on" approach by practicing each week's material in the Economics Department's computer lab. This course counts as a Group E elective.
Frequency: Every semester.
ECON 394 - Topics Course
Varies by semester. Consult the department or class schedule for current listing.
ECON 405 - Industrial Organization
Industrial organization (IO) studies how firms behave in markets. The field has theoretical foundations in comparative analysis and game theory. Most work in the field models strategic decision-making among firms to understand how their interactions affect profits, consumer welfare, and economic efficiency. This class is divided into three sections. The first covers the basic theory underlying modern empirical industrial organization, focusing on classical static IO models. The second section briefly reviews the history of empirical IO and covers workhorse empirical methods for analyzing market outcomes. The last will examine recent papers that synthesize the material covered in class, including trends in competition policy and market concentration in the tech industry. This course counts as a Group E elective. It is NOT a capstone course. It meets concurrently with ECON 406.
Frequency: Every year.
ECON 406 - Industrial Organization Capstone
Industrial organization (IO) studies how firms behave in markets. The field has theoretical foundations in comparative analysis and game theory. Most work in the field models strategic decision-making among firms to understand how their interactions affect profits, consumer welfare, and economic efficiency. This class is divided into three sections. The first covers the basic theory underlying modern empirical industrial organization, focusing on classical static IO models. The second section briefly reviews the history of empirical IO and covers workhorse empirical methods for analyzing market outcomes. The last will examine recent papers that synthesize the material covered in class, including trends in competition policy and market concentration in the tech industry. This course counts as a Group E elective. It is a capstone course. It meets concurrently with ECON 405.
Frequency: Every year.
ECON 421 - International Trade and Multinational Corporations
How do multinational corporations (Trade & FDI) shape globalization? We explore this question through two lenses: 1) a firm-centered theoretical component that introduces the more advanced theories of international trade and foreign direct investment (FDI). These derivations will help us evaluate the causes and consequences of international trade and FDI; and 2) an applied component where we evaluate and apply econometric research to examine the interactions between trade, FDI and a variety of issues including productivity, the labor market effects in home and host countries, economic development and inequality, convergence or polarization of global cultures, and natural disasters. The course grade will be based on group presentations, reading responses, two exams, and a capstone-level research project. The project consists of a econometric or theoretical analysis of a topic in the realm of trade and FDI chosen by the student.This course counts as a Group E elective. It is NOT a capstone course. It meets concurrently with ECON 422.
Frequency: Every year.
ECON 422 - International Trade and Multinational Corporations Capstone
How do multinational corporations (Trade & FDI) shape globalization? We explore this question through two lenses: 1) a firm-centered theoretical component that introduces the more advanced theories of international trade and foreign direct investment (FDI). These derivations will help us evaluate the causes and consequences of international trade and FDI; and 2) an applied component where we evaluate and apply econometric research to examine the interactions between trade, FDI and a variety of issues including productivity, the labor market effects in home and host countries, economic development and inequality, convergence or polarization of global cultures, and natural disasters. The course grade will be based on group presentations, reading responses, two exams, and a capstone-level research project. The project consists of a econometric or theoretical analysis of a topic in the realm of trade and FDI chosen by the student.This course counts as a Group E elective. It is a capstone course. It meets concurrently with ECON 421.
Frequency: Every year.
ECON 425 - International Economic Development
In this class, we study the economics of development in low-income countries and communities primarily in the Global South, from multiple perspectives and approaches. We primarily focus on the microeconomics of development economics. We explore both theoretical and empirical methodology in modern development economics. Topics we cover include: economic growth, fertility, health, cash transfers, rural labor markets, credit markets, and land markets as they relate to development. This course pushes students to work with datasets from low-income countries, and apply economic theory to problems of development. We keep an eye toward the relevance and applicability to policy of the topics we cover. This course counts as a Group E elective. It is NOT a capstone course. Meets concurrently with ECON 426.
Frequency: Every year.
ECON 426 - International Economic Development Capstone
In this class, we study the economics of development in low-income countries and communities primarily in the Global South, from multiple perspectives and approaches. We primarily focus on the microeconomics of development economics. We explore both theoretical and empirical methodology in modern development economics. Topics we cover include: economic growth, fertility, health, cash transfers, rural labor markets, credit markets, and land markets as they relate to development. This course pushes students to work with datasets from low-income countries, and apply economic theory to problems of development. We keep an eye toward the relevance and applicability to policy of the topics we cover. This course counts as a Group E elective. It is a capstone course. Meets concurrently with ECON 425.
Frequency: Every year.
ECON 431 - Economics of Public Policy
By taking this course, students will learn to interpret and conduct technical economic analysis of public policies. Students will apply their knowledge of micro- and macroeconomic theory and econometrics to study the economics of controversial and important policies. Sample policy areas might include climate change, health care, anti-poverty programs, affirmative action, income inequality, income redistribution via the tax system, public transit, immigration, education, gun control, and minimum or living-wage laws. While the course usually focuses on examples from the United States, it presents tools and frameworks that are applicable in any context. The course grade will be based on group and individual presentations and policy briefs relating to specific policies, homework, and a capstone-level research project. The project consists of a policy, econometric, or theoretical analysis of a public policy chosen by the student. This course counts as a Group E elective. It is NOT a capstone course. Meets concurrently with ECON 432.
Frequency: Every year.
ECON 432 - Economics of Public Policy Capstone
By taking this course, students will learn to interpret and conduct technical economic analysis of public policies. Students will apply their knowledge of micro- and macroeconomic theory and econometrics to study the economics of controversial and important policies. Sample policy areas might include climate change, health care, anti-poverty programs, affirmative action, income inequality, income redistribution via the tax system, public transit, immigration, education, gun control, and minimum or living-wage laws. While the course usually focuses on examples from the United States, it presents tools and frameworks that are applicable in any context. The course grade will be based on group and individual presentations and policy briefs relating to specific policies, homework, and a capstone-level research project. The project consists of a policy, econometric, or theoretical analysis of a public policy chosen by the student. This course counts as a Group E elective. It is a capstone course. Meets concurrently with ECON 421.
Frequency: Every year.
ECON 441 - Labor Economics
This course uses theoretical and empirical research to examine the economics of work from both the point of view of the firm and the worker. Economic tools will be used to analyze some of the important issues relevant to labor economics, such as labor force participation, the division of labor within the household, occupational choice, investments in education, minimum wage legislation, wage elasticities, employment-hours tradeoff, labor market discrimination, unions, and job search. This course counts as a Group E elective. It is NOT a capstone course. Meets concurrently with ECON 442.
Frequency: Yearly.
ECON 442 - Labor Economics Capstone
This course uses theoretical and empirical research to examine the economics of work from both the point of view of the firm and the worker. Economic tools will be used to analyze some of the important issues relevant to labor economics, such as labor force participation, the division of labor within the household, occupational choice, investments in education, minimum wage legislation, wage elasticities, employment-hours tradeoff, labor market discrimination, unions, and job search. This course counts as a Group E elective.
Frequency: Offered every year.
ECON 444 - Honors Seminar
An honors seminar to enhance the senior capstone requirement. This course counts as a Group E elective. It is a capstone course.
Prerequisite(s): Permission of instructor required.
ECON 457 - Finance
This course concentrates on developing and applying economic principles to the decision making process of the firm. Typically the course is taught from the viewpoint of the financial manager of a firm (profit or non-profit). Traditional corporate finance topics will be covered, including: cash flow management, sources of capital, capital budgeting, cost of capital, and financial structure. Recent theoretical developments in the capital asset pricing model and portfolio theory also will be examined. Actual case studies of financial decision making often are included in the course. This course counts as a Group E elective.
ECON 471 - Macroeconomic Modeling
You think you know macroeconomics until you open up an academic journal and discover that what's on the page is nothing like what you learned in your intermediate-level macro. While the intuition learned there is useful, the tools of the trade are unlike anything you've ever seen. It's almost as if you need to know the "secret handshake" before proceeding. The goal of this course is to teach you this secret handshake, as it provides a formal, hands-on exposition of modern macroeconomic theory using dynamic stochastic general equilibrium (DSGE) models. It offers a mix of theory and practice via three lecture hours and one lab hour per week. This course counts as a Group E elective. Meets concurrently with ECON 472.
Frequency: Offered most years.
ECON 472 - Macroeconomic Modeling Capstone
You think you know macroeconomics until you open up an academic journal and discover that what's on the page is nothing like what you learned in your intermediate-level macro. While the intuition learned there is useful, the tools of the trade are unlike anything you've ever seen. It's like you need to learn a "secret handshake" before proceeding. The goal of this course is to teach you this secret handshake, as it provides a formal, hands-on exposition of modern macroeconomic theory using dynamic stochastic general equilibrium (DSGE) models. It offers a mix of theory and practice via three lecture hours and one lab hour per week. This course counts as a Group E elective. It is a capstone course. Meets concurrently with ECON 471 .
Frequency: Alternate years.
ECON 473 - Open Economy Macroeconomics
Fact 1: All countries on the planet are open to trade (yes, even Cuba or North Korea). Fact 2: Macroeconomics typically ignores Fact 1 and assumes a closed economy when offered at a basic or intermediate level. Fact 3: The only closed economy is planet Earth. Fact 4: The difference between how a closed economy works vis-a-vis an open economy is huge. Fact 5: Phrases like "the trade balance deficit/current account worsened" are thrown around in the media (often in a fearmongering fashion) without enough context nor background information for the public to understand what's going on. This course takes these facts seriously and aims to complement and expand the macroeconomic foundations from ECON 371 by "opening up" the economy. We will study the canonical open economy models (theory) and see how these do when compared to the real world (practice). This course counts as a Group E elective. Meets concurrently with ECON 474.
Frequency: Alternate years.
ECON 474 - Open Economy Macroeconomics Capstone
Fact 1: All countries on the planet are open to trade (yes, even Cuba or North Korea). Fact 2: Macroeconomics typically ignores Fact 1 and assumes a closed economy when offered at a basic or intermediate level. Fact 3: The only closed economy is planet Earth. Fact 4: The difference between how a closed economy works vis-a-vis an open economy is huge. Fact 5: Phrases like "the trade balance deficit/current account worsened" are thrown around in the media (often in a fearmongering fashion) without enough context nor background information for the public to understand what's going on. This course takes these facts seriously and aims to complement and expand the macroeconomic foundations from ECON 371 by "opening up" the economy. We will study the canonical open economy models (theory) and see how these do when compared to the real world (practice). This course counts as a Group E elective. It is a capstone course. Meets concurrently with ECON 473.
Frequency: Alternate years.
ECON 477 - Economic Growth
Why are some countries poor? Why are some others rich? Can poor countries be rich? If they can, then why are they still poor? If they can't, why? These questions are perhaps the most important ones in Economics, and they are all linked through the field of economic growth. Growth miracles allow countries to move from low- to high-income over a few generations (say, South Korea), yet lack of growth leads to stagnation (say, the "lost decades" in Mexico). This course aims to answer the question "What generates growth?" by introducing the key theoretical models and empirical results that summarize our current understanding of the field. This course counts as a Group E elective. It is NOT a capstone course. It meets concurrently with ECON 478.
Frequency: Offered most years.
ECON 478 - Economic Growth Capstone
Why are some countries poor? Why are some others rich? Can poor countries be rich? If they can, then why are they still poor? If they can't, why? These questions are perhaps the most important ones in Economics, and they are all linked through the field of economic growth. Growth miracles allow countries to move from low- to high-income over a few generations (say, South Korea), yet lack of growth leads to stagnation (say, the "lost decades" in Mexico). This course aims to answer the question "What generates growth?" by introducing the key theoretical models and empirical results that summarize our current understanding of the field. This course counts as a Group E elective. Meets concurrently with ECON 477.
Frequency: Offered most years.
ECON 481 - Advanced Econometrics
This course will introduce advanced topics in applied econometrics. Among other topics, it will examine limited dependent variable models, vector autoregression and advanced time series techniques, simultaneous equations models and the econometrics of panel data estimation. Although the emphasis will be on applied work, the course will also examine the underlying mathematical structure of these estimation methods. This course counts as a Group E elective. It is a capstone course.
Frequency: Alternate years.
ECON 485 - Empirical Finance
This class teaches students how to profit from financial markets using quantitative trading strategies. The course mainly covers stock and currency markets, in which fundamental and technical analyses are conducted to forecast asset prices and design trading strategies. The strategies are scientifically backtested and applied in simulated trading for real performance evaluation. This course counts as a Group E elective. It is NOT a capstone course. It meets concurrently with ECON 486.
Frequency: Offered every other year.
ECON 486 - Empirical Finance Capstone
This class teaches students how to profit from financial markets using quantitative trading strategies. The course mainly covers stock and currency markets, in which fundamental and technical analyses are conducted to forecast asset prices and design trading strategies. The strategies are scientifically backtested and applied in simulated trading for real performance evaluation. This course counts as a Group E elective. It is a capstone course. It meets concurrently with ECON 485.
Frequency: Every other year.
ECON 489 - Behavioral and Experimental Economics
This course surveys recent developments in behavioral economics and considers applications in labor economics, macroeconomics, finance, public finance, consumer choice, and other areas. Our goal is to draw on recent work in cognitive and evolutionary psychology to better understand human behavior and incorporate these insights into neoclassical reasoning and modeling. This course counts as a Group E elective. It meets concurrently with ECON 490. It is NOT a capstone course, but requires that students complete a significant assignment rather than a capstone project.
Frequency: Offered every other year.
Cross-Listed as: PSYC 489
ECON 490 - Behavioral and Experimental Economics Capstone
This course surveys recent developments in behavioral economics and considers applications in labor economics, macroeconomics, finance, public finance, consumer choice, and other areas. Our goal is to draw on recent work in cognitive and evolutionary psychology to better understand human behavior and incorporate these insights into neoclassical reasoning and modeling. It is a capstone course. This course counts as a Group E elective. Meets concurrently with ECON 489.
Frequency: Offered every year.
Cross-Listed as: PSYC 490
ECON 494 - Topics Course
Varies by semester. Consult the department or class schedule for current listing.
ECON 611 - Independent Project
Further study in fields of special interest. Readings, conferences, field work, reports.
Frequency: Every semester.
Prerequisite(s): ECON 361, ECON 371 and permission of instructor and department chair.
ECON 612 - Independent Project
Further study in fields of special interest. Readings, conferences, field work, reports.
Frequency: Every semester.
Prerequisite(s): ECON 361, ECON 371 and permission of instructor and department chair.
ECON 613 - Independent Project
Further study in fields of special interest. Readings, conferences, field work, reports.
Frequency: Every semester.
Prerequisite(s): ECON 361, ECON 371 and permission of instructor and department chair.
ECON 614 - Independent Project
Further study in fields of special interest. Readings, conferences, field work, reports.
Frequency: Every semester.
Prerequisite(s): ECON 361, ECON 371 and permission of instructor and department chair.
ECON 621 - Internship
Work that involves the student in practical off-campus experiences with business, government, and non-profit organizations. S/N grading only. While the department encourages students to undertake meaningful off-campus experiences, internship credits do not count among the eight minimum courses for the major. (Internships are considered like a ninth or tenth course.)
Prerequisite(s): Two courses in economics and permission of instructor. Work with Internship Office.
ECON 622 - Internship
Work that involves the student in practical off-campus experiences with business, government, and non-profit organizations. S/N grading only. While the department encourages students to undertake meaningful off-campus experiences, internship credits do not count among the eight minimum courses for the major. (Internships are considered like a ninth or tenth course.)
Prerequisite(s): Two courses in economics and permission of instructor. Work with Internship Office.
ECON 623 - Internship
Work that involves the student in practical off-campus experiences with business, government, and non-profit organizations. S/N grading only. While the department encourages students to undertake meaningful off-campus experiences, internship credits do not count among the eight minimum courses for the major. (Internships are considered like a ninth or tenth course.)
Prerequisite(s): Two courses in economics and permission of instructor. Work with Internship Office.
ECON 624 - Internship
Work that involves the student in practical off-campus experiences with business, government, and non-profit organizations. S/N grading only. While the department encourages students to undertake meaningful off-campus experiences, internship credits do not count among the eight minimum courses for the major. (Internships are considered like a ninth or tenth course.)
Prerequisite(s): Two courses in economics and permission of instructor. Work with Internship Office.
ECON 631 - Preceptorship
Work in assisting faculty in the planning and teaching of a course and/or tutoring individual students. S/N grading only.
Frequency: Every semester.
ECON 632 - Preceptorship
Work in assisting faculty in the planning and teaching of a course and/or tutoring individual students. S/NC grading only.
Frequency: Every semester.
Prerequisite(s): ECON 361, ECON 371 and permission of instructor. Work with Academic Programs.
ECON 633 - Preceptorship
Work in assisting faculty in the planning and teaching of a course and/or tutoring individual students. S/NC grading only.
Frequency: Every semester.
Prerequisite(s): ECON 361, ECON 371 and permission of instructor. Work with Academic Programs.
ECON 634 - Preceptorship
Work in assisting faculty in the planning and teaching of a course and/or tutoring individual students. S/NC grading only.
Frequency: Every semester.
Prerequisite(s): ECON 361, ECON 371 and permission of instructor. Work with Academic Programs.