2023-2024 Academic Year

Fall 2023

ECON 111 Intro to Microeconomics
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.

ECON 314 Topics in Political Economy
Topics we may explore include (among others): the often contentious debate over F. A. Hayek's The Road to Serfdom (1944) and Hayek's later assessment of the welfare state, James M. Buchanan's constitutional political economy, Nancy Maclean's analysis of Buchanan's view of democracy, George Orwell's analysis of the logic of totalitarianism, Gordon Tullock's theory of rent-seeking, the Buchanan-Samuels exchange over the status of the status-quo, corruptions and the anti-commons, David Ellerman's labor theory of property, Bowles-Gintis contested exchange theory, Milton Friedman and the Pinochet dictatorship, Hayek and the Pinochet dictatorship, and Buchanan's assessment of the Pinochet junta. The class will place heavy emphasis on the importance of clarity when thinking and writing about the strengths or weaknesses of the various theories we are studying (e.g., the logic and assumptions underlying the theory of constitutional choice or Friedman's assessment of the way in which economic policy can help a country make the transition from dictatorship to democracy). The course is reading-intensive and requires much from you in terms of active participation (you also have the opportunity to help shape the direction of class discussion and the topics we explore).

Spring 2024

ECON 112 Intro to Macroeconomics
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.