Economics

An introduction to how economists develop and test theory, with a special emphasis on theory explaining the causes and consequences of inequality. The basic concepts of probability and statistics are taught in addition to theories of the labor market, inflation/unemployment tradeoffs, impact of fiscal and monetary policy, externalities, public goods, and international trade.

Examines differences in economic outcomes by race, gender, sexual orientation, religion, or other personal characteristic. Topics include 1) identification of discrimination in different markets including (but not limited to) the labor, education, and credit/housing market, and 2) evaluation of the effectiveness of policies aimed at reducing discrimination. This course places a special emphasis on developing professional presentation and discussion skills, teaching students to discuss controversial topics in a thoughtful and respectful manner.

An analysis of the economics of health and medical care, with particular emphasis on the provision of health care in the United States. Topics include the structure of public and private health insurance programs, financing the rising costs of medical care and the impact of health status on labor supply and retirement decisions. Relates these issues to current public policy debates surrounding the health care profession.

An examination of issues in environmental policy from the perspective of economic theory. Topics include the measurement of benefits and costs of curtailing pollution and preserving ecosystems, the design of public policies to improve environmental quality, and the examination of past and current environmental programs in the United States and their success. Also considers sustainable growth and issues of environmental equity.

A study of individual level investment decisions and the equilibrium determination of asset prices. Mean-variance analysis motivated by the tradeoff between risk and return. An introduction to asset pricing models, including the CAPM and multi-factor models. An introduction to derivatives, including stock options, futures and swaps. Discussions of the Efficient Markets Hypothesis, arbitrage, and contributions from behavioral finance. Other topics may include: fixed income pricing, Arrow-Debreu securities and the completeness of markets, and the binomial asset pricing model.