Fall 2009 Undergraduate Courses

Social Analysis 10: Principles of Economics, which is listed under the Core Curriculum, is the full-year introductory course in Economics. Social Analysis 10 is designed both for potential concentrators and for those who intend no further work in the field. The Department of Economics strongly encourages students considering concentration to take this course in their freshman year. This is a required course for all Economics concentrators and a prerequisite for higher level courses in economics.

General Economics; Economic Theory; History of Economics

Economics 1010a. Microeconomic Theory
Catalog Number: 1862
Jeffrey A. Miron
Half course (fall term). M., W., F., at 10, and a one-hour weekly section to be arranged. EXAM GROUP: 3
Focuses on the optimizing behavior of individual consumers and firms and coordination of individual decisions through markets, including the evaluation of market outcomes. Topics include: theory of the consumer, theory of the firm, decisions involving time and risk, perfect competition, monopoly and monopsony, oligopoly and game theory, markets with asymmetric information, and externalities and public goods.
Note: Economics 1010a fulfills the intermediate microeconomic theory requirement for Economics concentrators. Students may take either Economics 1010a or Economics 1011a for credit. This course, when taken for a letter grade, meets the Core area requirement for Social Analysis.
Prerequisite: Social Analysis 10 and Mathematics 1a or their equivalents.

Economics 1011a. Microeconomic Theory
Catalog Number: 7230
Edward L. Glaeser
Half course (fall term). Tu., Th., 11:30–1. EXAM GROUP: 13, 14
Economics 1011a is similar to Economics 1010a, but more mathematical and covers more material. The course teaches the basic tools of economics and to apply them to a wide range of human behavior. Tools include consumer theory, optimization under uncertainty, game theory, welfare economics, incentive theory, and the economics of information. Topics include industrial organization, public finance, law and economics, the economics of the family, religion, and riots.
Note: Economics 1011a fulfills the intermediate microeconomic theory requirement for Economics concentrators. Students may take either Economics 1010a or Economics 1011a for credit. This course, when taken for a letter grade, meets the Core area requirement for Social Analysis.
Prerequisite: Mathematics 21a or permission of the instructor.

Economics 1018. Cultural Economics
Catalog Number: 1775
Alberto F. Alesina
Half course (fall term). Tu., Th., 10–11:30. EXAM GROUP: 12, 13
Explores the importance of culture on economic outcomes, focusing on how heterogeneity of preferences affects economic choices and where those differences come from. Theoretical topics include group identity, social interactions and networks, evolutionary selection, the importance of the family. Empirical applications include international investment, savings, occupational choices, ethical norms, economic development, fertility decisions.
Prerequisite: Economics 1010a or 1011a, and Economics 1123.

Economics 1776. Religion and the Rise of Capitalism - (New Course)
Catalog Number: 30419
Benjamin M. Friedman
Half course (fall term). M., W., F., at 10. EXAM GROUP: 3
Examines the influence of religious thinking on the intellectual revolution, associated with Adam Smith and others, that created economics as we know it as an independent discipline; also examines how the lasting resonances from these early religious influences continue to shape discussion of economic issues and debates about economic policy down to our own day.
Note: This course, when taken for a letter grade, meets the General Education requirement for Culture and Belief the Core area requirement for Historical Study A. This course fulfills the requirement that one of the eight General Education courses also engages substantially with Study of the Past.
Prerequisite: Social Anaylysis 10.

Econometrics and Quantitative Methods

Economics 1123. Introduction to Econometrics
Catalog Number: 0813
Eric Chaney (fall term)
Half course (fall term; repeated spring term). Fall: Tu., Th., 11:30–1, and a weekly section to be arranged. EXAM GROUP: Fall: 13, 14
An introduction to multiple regression techniques with focus on economic applications. Discusses extensions to discrete response, panel data, and time series models, as well as issues such as omitted variables, missing data, sample selection, randomized and quasi-experiments, and instrumental variables. Aims to provide students with an understanding of and ability to apply econometric and statistical methods using computer packages.
Note: Students may take either Economics 1123 or Statistics 139 for credit. Statistics 139 will not count as econometrics requirement. Also, Economics 1123 may not be taken for credit if taken after Economics 1126, but credit will be given for both courses if Economics 1123 is taken first. This course, when taken for a letter grade, meets the General Education requirement for Empirical and Mathematical Reasoning or Core requirement for Quantitative Reasoning.
Prerequisite: Statistics 100.

Cross-listed Courses

Statistics 100. Introduction to Quantitative Methods for the Social Sciences and Humanities
Statistics 104. Introduction to Quantitative Methods for Economics
Statistics 110. Introduction to Probability

Economic History; Development Economics

Economics 1341. The Historical Origins of Middle Eastern Development
Catalog Number: 9328
Eric Chaney
Half course (fall term). Tu., Th., 2:30–4. EXAM GROUP: 16, 17
Middle Eastern countries enjoyed world economic leadership during the Middle Ages, and continue to play an important role in the world economy. This course will explore the historical development of Middle Eastern economies. Topics include the effects of colonialism, natural resource endowments and religion on economic growth. The course will emphasize how these and other historical factors continue to influence development prospects in the region today.
Note: A research paper is required. This course meets the concentration writing requirement.
Prerequisite: Social Analysis 10

Economics 1356. Economics of Work and Family - (New Course)
Catalog Number: 17685
Claudia Goldin
Half course (fall term). M., W., 1–2:30. EXAM GROUP: 6, 7
How are the most personal choices and life transitions decided, including when and whom to marry, how many children to have, how much education to obtain, and which careers or jobs to pursue? Much will be explored in terms of change over time, particularly concerning the economic emergence of women as well as the role of the state. Readings draw on economic theory, empirical analyses, and historical works and literature from the 19th century to the present.
Note: A research paper may be written for this course. This course, when taken for a letter grade, meets the General Education requirement for United States in the World or the Core area requirement for Social Analysis.
Prerequisite: Ec1010a or Ec1011a or equivalent, and Ec1123 or Ec1126 or equivalent or permission of instructor.

Economics 1370. Media, Democracy and Economics - (New Course)
Catalog Number: 45985
Philippe Aghion and Benedicte Berner
Half course (fall term). Tu., Th., 10–11:30. EXAM GROUP: 12, 13
This course will analyze the role of media in political and economic development. Topics covered are the history of the relationship between media and the state, media and democracy today, laws governing the media and its practice, legal and political pressures on the media, media as an economic object, ownership of media and its effects, media coverage on elections and in developing countries, competition and truth in the market for news, the current mainstream media, and journalistic ethics.
Prerequisite: Social Analysis 10.

Cross-listed Courses

Government 1197. The Political Economy of Africa

Monetary and Fiscal Theory and Policy; Public Sector Economics

No courses offered for fall term 2009. There are several to choose from in spring term 2010.

International Economics

Economics 1535. International Trade and Investment
Catalog Number: 2557
Marc J. Melitz
Half course (fall term). M., W., 2–3:30. EXAM GROUP: 7, 8
Analyzes the causes and consequences of international trade and investment. Focuses on the interplay of economic theory and empirical descriptions of foreign trade and direct investment patterns.
Prerequisite: Economics 1010a or 1011a.

Economics 1542. International Trade Policy
Catalog Number: 2613
Elhanan Helpman
Half course (fall term). M., W., 2–3:30; and a weekly section to be arranged. EXAM GROUP: 7, 8
Provides a discussion of the economic impacts of international trade policies and the political economy of trade policy formation. The course will focus on analytical methods and therefore requires knowledge of calculus.
Prerequisite: Economics 1010a or 1011a, or permission of instructor.

Economics 1545. International Financial and Macroeconomic Policy
Catalog Number: 5166 Enrollment: Limited to 30.
Kenneth Rogoff
Half course (fall term). M., W., 1–2:30. EXAM GROUP: 6, 7
Advanced theoretical and empirical analysis of contemporary international macroeconomic policy issues in both industrialized and developing economies. Topics include exchange rates, international capital flows, debt crises, growth, and policy coordination.
Prerequisite: Economics 1010b or 1011b.

Financial Economics

Economics 1723. Capital Markets
Catalog Number: 1917
Owen A. Lamont
Half course (fall term). Tu., Th., 10–11:30, and a weekly section to be arranged. EXAM GROUP: 12, 13
An introduction to the economic analysis of investment decisions and financial markets. Concepts include time discounting, market efficiency, risk, and arbitrage. These concepts are applied to fixed-income securities, equities, and derivative securities.
Prerequisite: Mathematics 20 and Economics 1010a or 1011a.

Labor, Human Resources, and Income Distribution; Urban Economics

Economics 1812. The US Labor Market
Catalog Number: 0421 Enrollment: Limited to 50.
James L. Medoff
Half course (fall term). M., W., (F.), at 10. EXAM GROUP: 3
Presents the tools employed in research on the operation of the labor market and then uses them to discuss issues such as the determinants of earnings differentials, the impact of various firm characteristics on labor-market outcomes, discrimination, and unemployment.
Prerequisite: Economics 1010a (or 1011a) and Economics 1010b (or 1011b).

Tutorials, Junior Seminars, and Senior Thesis Seminars in Economics

*Economics 910r. Supervised Reading and Research
Catalog Number: 1020
Jeffrey A. Miron
Half course (fall term; repeated spring term). Hours to be arranged.
Supervised reading leading to a long term paper on a topic or topics not covered by regular courses.
Note: Does not count for concentration credit and may not be taken Pass/Fail. Requires signatures of the adviser and of the Director of Undergraduate Studies. Application available at the Economics Undergraduate Office at Littauer Center, North Yard.

*Economics 970. Tutorial — Sophomore Year
Catalog Number: 7923
Jeffrey A. Miron
Half course (fall term; repeated spring term). Fall: W., 2-3:30. First meeting only September 2, 2009; Spring: M., 2-3:30. First meeting only January 25, 2010.
A series of small seminars focusing on applications of economic theory to real problems.
Note: One term required of all Economics concentrators. Enrollment limited to concentrators.
Prerequisite: Both terms of Social Analysis 10 (or equivalent); Statistics 100, 104, or 110; Economics 1010a or 1011a and current enrollment in Economics 1010b or 1011b.

*Economics 975 (formerly *Economics 980). Tutorial — Theory Review
Catalog Number: 3281
Jeffrey A. Miron
Half course (fall term). Tu., Th., 1–2:30.
A thorough review of intermediate microeconomics and macroeconomics.
Note: Required of and limited to concentrators who received below a B-/C+ average in the Economics 1010/1011 sequence.

Economics 985 Senior Thesis Seminars

These seminars are limited to seniors writing senior honor theses. Each seminar focuses on the research topics of interest to the participants. Emphasis is placed on research design, methodological problems, literature review, and sources of data. Regular student presentations of work in progress are required. An Economics 985 seminar taken in the senior year substitutes for Economics 990, and seniors will not be allowed to enroll concurrently in both courses. All 985 seminars are limited to 16 students.

*Economics 985a. Research in Microeconomics
Catalog Number: 7166
Jeffrey A. Miron and members of the Department
Full course. Tu., 4–6.
Workshop for seniors writing theses in theoretical and applied microeconomics. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.

*Economics 985c. Research in Labor Economics
Catalog Number: 5409
Jeffrey A. Miron and members of the Department
Full course. W., 1–3. EXAM GROUP: Fall: 6, 7
Workshop for seniors writing theses in labor economics and related topics. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.

*Economics 985d. Research in Economic Development
Catalog Number: 4989
Jeffrey A. Miron and members of the Department
Full course. W., 2:30-4:30.
Workshop for seniors writing theses in the areas of economic history and economic development, including health and population issues. Emphasis on choice of research topics, methodologies, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.

*Economics 985e. Research in Macroeconomics
Catalog Number: 3740
Jeffrey A. Miron and members of the Department
Full course. M., 4–6.
Workshop for seniors writing theses in the fields of monetary and fiscal policy, business cycles, and economic growth. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.

*Economics 985f. Research in International Trade and Finance
Catalog Number: 7157
Jeffrey A. Miron and members of the Department
Full course. M., 3–5:30.
Workshop for seniors writing theses in international trade and finance. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.

*Economics 985g. Research in Behavioral and Experimental Economics
Catalog Number: 2566
Jeffrey A. Miron and members of the Department
Full course. Tu., 4–6.
Workshop for seniors writing theses in behavioral and experimental economics. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.

*Economics 985h. Research in Financial Markets
Catalog Number: 0350
Jeffrey A. Miron and members of the Department
Full course. Th., 4–6.
Workshop for seniors writing theses in finance. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honor thesis are required. Topics include asset pricing and corporate finance.

*Economics 985k. Research in Public Economics
Catalog Number: 0871
Jeffrey A. Miron and members of the Department
Full course. Th., 3–5.
Workshop for seniors writing theses in public economics. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required. Topics have included taxation, health economics, environmental and resource economics, and education.

*Economics 990. Tutorial — Senior Year
Catalog Number: 7342
Jeffrey A. Miron and members of the Department
Full course. Hours to be arranged.
Note: Students who are writing a senior thesis out of sequence (i.e., beginning in the spring) must enroll in Economics 990 in the spring and complete the course in the fall. Students must write a 25-page paper at the end of the first term of Economics 990. Students currently enrolled in Economics 985 may not enroll in Economics 990.