Spring 2022

Course Code Title/Instructor Meets
ECON 111-01 Introduction to Microeconomics
Instructor: Andrew Farrant
Course Description:
A study of the fundamentals of economic analysis and of basic economic institutions, with particular emphasis upon consumer demand and upon the output and pricing decisions of business firms. The implications of actions taken by these decision-makers, operating within various market structures, upon the allocation of resources and the distribution of income are examined. Special attention is given to the sociopolitical environment within which economic decisions are made.
03:00 PM-04:15 PM, TF
DENNY 317
ECON 111-02 Introduction to Microeconomics
Instructor: Nicky Tynan
Course Description:
A study of the fundamentals of economic analysis and of basic economic institutions, with particular emphasis upon consumer demand and upon the output and pricing decisions of business firms. The implications of actions taken by these decision-makers, operating within various market structures, upon the allocation of resources and the distribution of income are examined. Special attention is given to the sociopolitical environment within which economic decisions are made.
09:30 AM-10:20 AM, MWF
ALTHSE 204
ECON 111-03 Introduction to Microeconomics
Instructor: Tricia Hawks
Course Description:
A study of the fundamentals of economic analysis and of basic economic institutions, with particular emphasis upon consumer demand and upon the output and pricing decisions of business firms. The implications of actions taken by these decision-makers, operating within various market structures, upon the allocation of resources and the distribution of income are examined. Special attention is given to the sociopolitical environment within which economic decisions are made.
01:30 PM-02:45 PM, MR
ALTHSE 08
ECON 112-01 Introduction to Macroeconomics
Instructor: Yaxiang Song
Course Description:
A study of the fundamentals of economic analysis and of basic economic institutions, with particular emphasis upon national output, employment, and price levels. The monetary and financial system is explored together with problems of economic stability. Monetary and fiscal policy procedures are analyzed and evaluated in light of the current economic climate. Special attention is given to the historical development of major economic institutions.Prerequisite: 111.
09:00 AM-10:15 AM, TR
ALTHSE 106
ECON 112-02 Introduction to Macroeconomics
Instructor: Yaxiang Song
Course Description:
A study of the fundamentals of economic analysis and of basic economic institutions, with particular emphasis upon national output, employment, and price levels. The monetary and financial system is explored together with problems of economic stability. Monetary and fiscal policy procedures are analyzed and evaluated in light of the current economic climate. Special attention is given to the historical development of major economic institutions.Prerequisite: 111.
10:30 AM-11:45 AM, TR
TOME 117
ECON 112-03 Introduction to Macroeconomics
Instructor: Paul Ko
Course Description:
A study of the fundamentals of economic analysis and of basic economic institutions, with particular emphasis upon national output, employment, and price levels. The monetary and financial system is explored together with problems of economic stability. Monetary and fiscal policy procedures are analyzed and evaluated in light of the current economic climate. Special attention is given to the historical development of major economic institutions.Prerequisite: 111.
09:00 AM-10:15 AM, TR
ALTHSE 08
ECON 228-01 Economic Analysis of Policy
Instructor: Tricia Hawks
Course Description:
This course introduces the basic economic techniques used in the analysis of public policy and applies these techniques to a variety of social problems and policies. The economic techniques taught include the analysis of market failure, benefit-cost analysis, and economic impact analysis. Applied topics vary, but are likely to include education and job training, public assistance, transportation policy, and environmental protection. Prerequisite: 111 or permission of the instructor.
03:00 PM-04:15 PM, MR
ALTHSE 08
ECON 230-01 Political Economy of Gender
Instructor: Ebru Kongar
Course Description:
Cross-listed with SOCIO 227-01 and WGSS 202-02. Political Economy of Gender adopts a gender-aware perspective to examine how people secure their livelihoods through labor market and nonmarket work. The course examines the nature of labor market inequalities by gender, race, ethnicity and other social categories, how they are integrated with non-market activities, their wellbeing effects, their role in the macroeconomy, and the impact of macroeconomic policies on these work inequalities. These questions are examined from the perspective of feminist economics that has emerged since the early 1990s as a heterodox economics discourse, critical of both mainstream and gender-blind heterodox economics. While we will pay special attention to the US economy, our starting point is that there is one world economy with connections between the global South and the North, in spite of the structural differences between (and within) these regions.For ECON 230: ECON 111 (ECON 112 recommended); For SOCI 227: SOCI 110 or ECON 111; For WGSS 202: none (ECON 111 recommended) This course is cross-listed as SOCI 227 & WGSS 202.
09:00 AM-10:15 AM, TR
ALTHSE 206
ECON 268-01 Intermediate Macroeconomic Theory
Instructor: Emily Marshall
Course Description:
Neoclassical theories of economic behavior in the aggregate. Models will be used as a framework for analyzing the determination of the level of national output and for explaining fluctuations in employment, the price level, interest rates, productivity, and the rate of economic growth. Policy proposals will be appraised. Prerequisite: 111 and 112; MATH 170.
01:30 PM-02:45 PM, MR
ALTHSE 204
ECON 278-01 Intermediate Microeconomic Theory
Instructor: Xiaozhou Ding
Course Description:
Neoclassical theory of relative prices of commodities and productive services under perfect and imperfect competition. The role of prices in the allocation and distribution of resources and commodities. Economic behavior of individual economic units like consumers, firms, and resource owners. Prerequisite: 111 and MATH 170.
09:00 AM-10:15 AM, TR
ALTHSE 207
ECON 278-02 Intermediate Microeconomic Theory
Instructor: Xiaozhou Ding
Course Description:
Neoclassical theory of relative prices of commodities and productive services under perfect and imperfect competition. The role of prices in the allocation and distribution of resources and commodities. Economic behavior of individual economic units like consumers, firms, and resource owners. Prerequisite: 111 and MATH 170.
10:30 AM-11:45 AM, TR
ALTHSE 207
ECON 288-01 Contending Economic Perspectives
Instructor: Edward McPhail
Course Description:
A study of major heterodox economic theories such as Marxian, institutional, feminist, post-Keynesian, or Austrian economics. Students will study these contending economic perspectives through their historical evolution, methods and theoretical structures, and/or current policy debates. Prerequisites: 111 and 112.
01:30 PM-02:45 PM, TF
ALTHSE 207
ECON 314-01 Applied Empirical Data Analysis
Instructor: Steve Erfle
Course Description:
Cross-listed with INBM 300-01. This course provides students with the opportunity to undertake their own empirical investigation on topics of their choice. Students are welcome to use the information that I have gathered but they are also encouraged to obtain and analyze data of their choosing, subject to professor approval. Students have access to start of year and end of year physical activity and stature measures for more than 10,000 middle school students, two thirds of whom had daily PE, as well as school district level data for the Commonwealth of Pennsylvania. This course will analyze the data obtained from this program. Students will learn how to use SPSS and Arc-GIS throughout the course of the semester. The class culminates in presenting your own findings in a poster presentation that is open to the public.
12:30 PM-03:30 PM, W
ALTHSE 204
ECON 314-02 Game Theory
Instructor: Eren Bilen
Course Description:
An introduction to game theory, the analysis of strategic decision making. The course presents the main ideas of game theory and shows how they can be applied to understand decision making in business, economics, politics, criminology, and other real world environments. Concepts of normal and extensive form games, pure and mixed strategies, Nash Equilibrium, and subgame perfect equilibrium will be covered.
09:00 AM-10:15 AM, TR
ALTHSE 110
ECON 314-03 Trade, Globalization, and Open-Economy Macroeconomics
Instructor: Paul Ko
Course Description:
Cross-listed with INST 290-04.This course analyzes the causes and consequences of international trade in the United States and global economy. In this course, we will ask questions such as: Why do nations trade and what do they trade? How beneficial or costly is trade to our lives? How is trade recorded in history and how did it reshape the world? We will also touch upon contemporary theories of international trade and how economists build international trade models. We will further explore and analyze trade policies and contemporary trade disputes, tariffs and protectionism, effects of economic integration, effects of trade on economic growth and inequality, and the rise of multinational firms. Concepts and methodologies from diverse areas, including macroeconomics, microeconomics, and political science will be relevant. This course puts emphasis on quantitative (theoretical and empirical) skills to understand various international trade and macroeconomic models and to analyze different types of macroeconomic and trade data.
10:30 AM-11:45 AM, TR
ALTHSE 206
ECON 344-01 Public Finance
Instructor: Xiaozhou Ding
Course Description:
Theoretical analysis of the interaction of the public and private sectors emphasizing problems of allocation and distribution. Topics include economic rationales for government, public expenditure theory, redistribution of income, collective decision making, and taxation. Neoclassical approaches predominate; however, some alternative approaches will be explored. Prerequisite: 278 or permission of the instructor.
03:00 PM-04:15 PM, MR
ALTHSE 201
ECON 351-01 Gender and Development
Instructor: Ebru Kongar
Course Description:
Cross-listed with INST 351-01 an WGSS 302-01.Permission of Instructor Required. This course examines the gender dimensions of economic development and globalization from the perspective of feminist economics. This perspective implies foregrounding labor, broadly defined to include paid and unpaid work, and examining gender differences in work, access to resources, and wellbeing outcomes, and how these are affected by macroeconomic policies and how gender inequalities are relevant for societal wellbeing. Since the early 1980s economic globalization has been achieved on the basis of a common set of macroeconomic policies pursued in industrial and developing countries alike. These policies frame both the gender-differentiated impacts of policy and the initiatives that are implemented to reduce inequalities between men and women. The main objective of the course is to examine the impact of these policies on men and women in the global South (a.k.a. developing countries/Third World) on gender inequalities and to evaluate the policies/strategies for reducing gender inequalities and promoting the well-being of all people. The pursuit of these objectives will entail first a brief examination of the central tenets of feminist economics and an historical overview of the policy-oriented field of gender and development. Gender-differentiated statistics will be reviewed as they pertain to the topics under discussion. Prerequisite: For ECON 351: ECON 288; For INST 351: ECON 288 or INST 200 or INBM 200; For WGSS 302: at least one WGSS course or ECON 288. This course is cross-listed as INST 351& WGSS 302.
10:30 AM-11:45 AM, TR
ALTHSE 201
ECON 398-01 Advanced Econometrics
Instructor: Anthony Underwood
Course Description:
This course covers some advanced topics in applied econometrics. Students will apply multiple regression analysis to both cross-sectional and longitudinal (panel) data to familiarize students with a variety of advanced econometric techniques including instrumental variable analysis, differences-in-differences methods, limited dependent variable models, and dynamic panel analysis. Students will conduct individual empirical research projects using Stata, or other statistical analysis software widely used in economics, to enable students to understand and apply the conventions of empirical research in economics. We will cover elements of technical writing, reviewing existing literature, data collection and organization, and file management for complete transparency and reproducibility. Prerequisites: 268 or 278, and 298.
01:30 PM-02:45 PM, MR
STERN 11
ECON 496-01 Topics in Monetary Theory and Policy
Instructor: Andrew Farrant
Course Description:
Permission of instructor required.This course will examine a variety of topics which (among others) include the theory of the political business cycle, monetary policy under various exchange rate regimes, money as a network good, monetary policy at the zero bound, the fiscal theory of the price level, various alternatives to central banking (e.g., free banking, currency boards and dollarization), the logic of the time-consistency model, the operation of the classical gold standard, the question as whether private fiat-type currency is viable, the proposal for a brick standard, the logic of the proposal for the separation of the unit of account and the medium of exchange (the B-F-H system and related proposals), the Chicago 100% plan, modern monetary theory (MMT), the Menger-Knapp debate over the origins of money, the question of policy credibility, theories of endogenous money, and the case for and against an independent central bank.
01:30 PM-04:30 PM, W
ALTHSE 206
ECON 496-02 Behavioral Economics
Instructor: Tricia Hawks
Course Description:
Permission of instructor required.Why do people fail to save enough for retirement, even when investment vehicles are made easily available, often through employer or government-based programs? Why do consumers make purchases that reduce utility even when superior options are accessible? Why do buyers rely on poor information yet often argue that their information is valid; and why do these same consumers make predictable mistakes in assessing risk, recognizing framing issues, avoiding the endowment effect, or allowing mental accounting to drive suboptimal behavior? In this course we will look at the chronological development of behavioral economics and read the seminal articles dealing with issues such as time-preferences, insufficient savings, risk assessment, base -rate neglect, the Ellsberg paradox and other topics. Emphasis will be on how these failures of individuals to act economically pose challenges to economic modeling. Each student will select one topic to explore in greater depth for a brief research paper and presentation.
01:30 PM-04:30 PM, W
ALTHSE 109
ECON 496-03 Advanced Topics in Economic Theory
Instructor: Edward McPhail
Course Description:
Permission of instructor required.This course will cover advanced topics selected from microeconomics and macroeconomics. We will draw examples from game theory, international trade, evolutionary game theory, behavioral economics, efficiency wage/contested exchange, neoclassical theory, etc. The course's objectives are to provide an introduction to fundamental microeconomic concepts relevant to the generic problem of coordinating social interactions among autonomous actors, with particular attention paid to conflict, competition, collective action, coordination failures, and the evolution of institutions and norms in capitalist economies. To achieve that end, we will study the appropriate mathematical techniques and build a mathematical toolkit that will enable us to make sense of the relevant literature. Students will master mathematical techniques that will allow them to set up and solve the models discussed in the course. This course covers topics that have occupied the minds of such diverse authors as Adam Smith, Karl Marx, John Stuart Mill, Joseph Schumpeter, Armen Alchian, Gary Becker, Ronald Coase, Jon Elster, Frank Knight, Samuel Bowles, Herbert Gintis, John Roemer, Amartya Sen, Thomas Schelling, Friedrich Hayek, Joseph Stiglitz, Robert Boyd, Peter Richerson, Garrett Hardin, Robert Sugden, John Maynard Smith, Andrew Schotter, and many others.
03:00 PM-04:15 PM, TF
ALTHSE 207
ECON 496-04 Economic History of the United States
Instructor: Nicky Tynan
Course Description:
Permission of instructor required.This seminar introduces you to the study of economic history through the reading and discussion of seminal articles U.S. economy history. We will explore the historical roots of current economic issues, such as changes in standards of living, technological change, income and wealth inequality, racial and gender differences in earnings and employment, causes and consequences of the Great Depression, the growth of government, education, social programs, infrastructure investment, and immigration. Readings also illustrate the role of econometric analysis in improving our understanding of the past. Each student will select one topic to explore in greater depth for a brief research paper and presentation.
01:30 PM-02:45 PM, MR
ALTHSE 206
ECON 496-05 Economic Demography and Sustainable Development
Instructor: Anthony Underwood
Course Description:
Permission of instructor required.Demography is the study of the determinants and consequences of population change. It is concerned with effectively everything that influences or can be influenced by population size, population growth or decline, population processes, population spatial distribution, population structure, and population characteristics. As we go from the historical pattern of high birth and death rates to the increasingly common pattern of low birth and death rates, we pass through the demographic transition. This is actually a whole set of transitions relating to changes in health and mortality, fertility, migration, age structure, urbanization, and family and household structure. Each of these separate, but interrelated, changes have serious consequences for the way societies and economies work and the natural environment they are built upon. Thus, the objectives of this course are threefold: (1) to develop knowledge of the underlying demographic theories explaining these transitions; (2) to use this knowledge to understand the interrelationships between these transitions; and (3) to determine the implications of these transitions for sustainable development, that is, for social, economic, and environmental sustainability. Some questions we will consider include (but are not limited to): Why are so many adults living alone? Why are women having fewer babies? What impact do sub-replacement birth rates have on economies and societies? What role do the rights of women have in demographic transitions? Why are adults waiting so long to get married or not getting married at all? What happens when the population ages? Why are more and more people choosing to live in cities? Is this expected growth of cities sustainable? Often for familiarity and simplicity we will use data and readings focused on the United States, but since these transitions have evolved in ways that vary from one part of the world to another, this course will often have a necessarily international focus. Naturally, given the expansive subject matter, this course will require much from you it is reading and writing intensive.
01:30 PM-04:30 PM, T
STERN 12
ECON 500-01 Econometrics
Instructor: Anthony Underwood
Course Description:

ECON 500-02 Economic History of the United States
Instructor: Nicky Tynan
Course Description:

ECON 500-03 Advanced Methods in Econometrics
Instructor: Anthony Underwood
Course Description:

ECON 500-04 Real Estate Economics
Instructor: Xiaozhou Ding
Course Description:

ECON 550-01 Europe and Africa: Agricultural Cooperation
Instructor: Nicky Tynan
Course Description:

ECON 550-02 Empirical Evidence of Herding Behavior in the U.S. Stock Market During Financial Crisis
Instructor: Anthony Underwood
Course Description:

ECON 560-01 Understanding the Impact of Shocks on Household Behavior
Instructor: Shamma Alam
Course Description: