Economics

Ec 11. Introduction to Economics. 9 units (3-2-4); first, third terms. An introduction to economic methodology, models, and institutions. Includes both basic microeconomics and an introduction to modern approaches to macroeconomic issues. Students are required to participate in economics experiments. Instructors: Plott, McAfee.

Ec 13. Readings in Economics. Units to be determined for the individual by the department. Not available for credit toward humanities–social science requirement. Graded pass/fail.

BEM/Ec/SS 20. Scientific Writing and Oral Presentation in the Social Sciences. 6 units (2-0-4). For course description, see Business Economics and Management.

Ec 98 abc. Senior Research and Thesis. Prerequisite: instructor’s permission. Senior economics majors wishing to undertake research may elect a variable number of units, not to exceed 12 in any one term, for such work under the direction of a member of the economics faculty.

Ec 101. Selected Topics in Economics. 9 units (3-0-6). Offered by announcement. Instructors: Staff, visiting lecturers.

Ec 105. Industrial Organization. 9 units (3-0-6). Prerequisite: Ec 11 or equivalent. A study of how technology affects issues of market structure and how market structure affects observable economic outcomes, such as prices, profits, advertising, and research and development expenditures. Emphasis will be on how the analytic tools developed in the course can be used to examine particular industries in detail. Instructor: Iaryczower.

Ec 106. Topics in Applied Industrial Organization. 9 units (3-0-6); third term. Prerequisite: Ec 11; Ec 116 recommended. Topics include simulation of mergers in oligopolistic industries, valuation of intellectual property, price setting and concentration in the pharmaceutical market, and statistical analysis of combined tobacco and asbestos exposure. A term paper will be required. Not offered 2005–06.

Ec 116. Contemporary Socioeconomic Problems. 9 units (3-0-6); first term. Prerequisites: Ec 11 and PS 12 or equivalents. An analytical investigation of the economic aspects of certain current social issues. Topics: the economics of education, medical-care systems, urban affairs, and the welfare system. Not offered 2005–06.

Ec 120. International Economic Theory. 9 units (3-0-6). Factors affecting the exchange of goods and services and the flow of capital between markets. Theory is stressed. Not offered 2005–06.

Ec 121 ab. Theory of Value. 9 units (3-0-6); first, second terms. Prerequisites: Ec 11 and Ma 2 (may be taken concurrently). A study of consumer preference, the structure and conduct of markets, factor pricing, measures of economic efficiency, and the interdependence of markets in reaching a general equilibrium. Instructor: Border.

Ec 122. Econometrics. 9 units (3-0-6); second term. Prerequisite: Ma 112 a. The application of statistical techniques to the analysis of economic data. Instructor: Bossaerts.

Ec 123. Macroeconomics. 9 units (3-0-6); third term. Prerequisite: Ec 11. The role of time and uncertainty in understanding the behavior of economic aggregates such as investment, employment, and price levels. Emphasis is on representative-agent recursive equilibrium models. Topics include practical dynamic programming; job search, matching, and unemployment; asset pricing; monetary and fiscal policy; and taxation and insurance. Instructor: Border.

Ec/SS 129. Economic History of the United States. 9 units (3-0-6); second term. Prerequisite: Ec 11 or SS 13. An examination of certain analytical and quantitative tools and their application to American economic development. Not offered 2005–06.

Ec/SS 130. Economic History of Europe from the Middle Ages to the Industrial Revolution. 9 units (3-0-6). Prerequisite: Ec 11 or SS 13. Employs the theoretical and quantitative techniques of economics to help explore and explain the development of the European cultural area between 1000 and 1850. Topics include the rise of commerce, the demographic transition, the industrial revolution, and changes in property rights and capital markets. Instructor: Hoffman.

Ec 131. Labor Economics. 9 units (3-0-6). Prerequisite: Ec 11 or equivalent. Modern theory of labor markets. Uses empirical evidence to supplement theoretical results. Not offered 2005–06.

Ec 132. Auctions. 9 units (3-0-6); second term. Prerequisite: Ec 11. The course covers basic topics in auction theory (private and common value auctions, revenue equivalence, reserve prices, budget constraints, risk aversion, etc.) and discusses more advanced theory such as mechanism design, multi-unit auctions, and interdependent valuations. Experimental studies of auctions will be reviewed where appropriate. The course will also discuss practical considerations that arise when designing auctions to sell licenses in a particular industry. Instructor: Goeree.

Ec 138. Introduction to Welfare Economics. 9 units (3-0-6). Prerequisite: Ec 11. Economic efficiency of various market arrangements; modern developments in the theories of decentralization and informational efficiency. Not offered 2005–06.

Ec 140. Economic Progress. 9 units (3-0-6); third term. Prerequisites: Ec 11 and Ma 2; Ec 122 recommended. This course examines the contemporary literature on economic growth and development from both a theoretical and historical/empirical perspective. Topics include a historical overview of economic progress and the lack thereof; simple capital accumulation models; equilibrium/planning models of accumulation; endogenous growth models; empirical tests of convergence; the measurement and role of technological advancement; and the role of trade, institutions, property rights, human capital, and culture. Instructors: Border, Hoffman. Given in alternate years; offered 2005–06.

Ec 145. Public Finance. 9 units (3-0-6). Prerequisite: Ec 11 or equivalent. An intermediate-level course on the economics of the public sector. Material is chosen from welfare economics, public expenditure theory and practice, taxation theory and practice, federalism, and public choice theory. Instructor: Mattozzi.

BEM/Ec 146. Organization Design. 9 units (3-0-6). For course description, see Business Economics and Management.

Ec 155. Decision Theory. 9 units (3-0-6); third term. Prerequisite: Ma 2. Course will discuss the formal analysis of individual decision making from normative and descriptive standpoints. Topics to be covered include choice under risk (von Neumann and Morgenstern) and under certainty (Anscombe-Aumann and Savage), conditional preferences and probabilities, independence and de Finetti’s theorem on exchangeability, dynamic decision making, nonexpected utility models, nonadditive probabilities, and multiple priors. Not offered 2005–06.

Ec/PS 160 abc. Laboratory Experiments in the Social Sciences. 9 units (3-3-3). An examination of recent work in laboratory testing in the social sciences with particular reference to work done in social psychology, economics, and political science. Students are required to design and conduct experiments. Instructor: Plott.

PS/Ec 172. Noncooperative Games in the Social Sciences. 9 units (3-0-6). For course description, see Political Science.

PS/Ec 173. Cooperation and Social Behavior. 9 units (3-0-6). For course description, see Political Science.

Ec/PS 190. Undergraduate Research. Units to be arranged; any term. Prerequisite: advanced economics course and instructor’s permission. This course offers advanced undergraduates the opportunity to pursue research in political science or economics. Graded pass/fail.