Holden Diethorn

This course studies issues of economic choice, economic efficiency and social welfare. The course presents theories of consumer and producer behavior and shows how these theories can be used to predict the consequences of individual, business and government actions. Topics covered include opportunity cost, the gains from trade, supply and demand analysis, taxes, externalities, price controls, consumer choice, production and cost, product pricing and market structure. This course is required for the major. No prerequisite. Offered every fall semester.

This course studies national economic performance. Building upon the microeconomic theories of consumer and producer behavior developed in ECON 101, the course introduces models that focus on the questions of unemployment, inflation and growth. Topics covered include measurement of national income and inflation, macroeconomic models, saving and investment, money and banking, fiscal and monetary policy, and international trade and finance. This course is required for the major. Prerequisite: ECON 101. Offered every spring semester.

Econometrics is the application of statistical techniques to test economic models. This course offers an introduction to the theoretical and practical aspects of econometrics. Emphasis is given to linear regression techniques, special problems associated with linear regression, and the interpretation of results. In short, economic explanations of behavior are quantified and hypotheses are tested with data using statistical techniques. Students make extensive use of Stata, a statistical software package that is popular among economists, to create and modify data sets and obtain experience learning to apply appropriate econometric methods. This course cannot be taken as pass/D/fail. This course is required for the major. Prerequisite: ECON 101, 102 and a college course in statistics or a score of 4 or 5 on the AP statistics exam. Generally offered every semester.

This course provides an introduction to the economic analysis of labor markets. Topics include the determinants of labor demand and labor supply, the theory of compensating wage differentials, formation of human capital, discrimination in the workplace, public policy toward the workplace, and the determinants of earnings inequality. This course counts toward an elective for the major. Prerequisite: ECON 101 and 102. Generally offered every other year.