ECONOMICS (ECON)

Chair: James Albrecht (202) 687-5601
Department of Economics website

FIRST SESSION (June 2 - July 3)

Principles of Microeconomics
Staveley-O'Carroll
ECON-001-10
MTWR 10:30 a.m. - 12:30 p.m.
3 cr.

Prereq: None. This course first develops simple graphical and mathematical models of decision-making by individual economic agents: consumers, workers, and businesses. We analyze interactions between these agents in product and factor markets using concepts of market demand, supply, and equilibrium. Finally, we demonstrate the efficiency of perfectly competitive markets, describe the conditions under which that efficiency arises, and examine market failures that occur when those conditions are not met.

Principles of Macroeconomics
Bui, Trung
ECON-002-10
M-F 1:00 - 2:30 p.m.
3 cr.

Prereq: None. This course is an introduction to macroeconomic analysis and its application. The operation of the modern market economy is examined to provide an understanding of how the composition, size and distribution of national output are determined. Monetary and fiscal policy and international trade are included. Some institutions of the U.S. economy are examined.

Macroeconomic Theory
Mykhaylova
ECON-102-10
MTWR 6:00 - 8:00 p.m.
3 cr.

Prereq: ECON-001, ECON-002 and MATH-035 (Calculus I). This course covers: the measurement of output and prices; theory of economic growth; business cycle theory; fiscal policy; and monetary policy.

Economic Statistics
Westbrook
ECON-121-10
Lec: MTWR 3:40 - 5:55 p.m.
Lab: W 7:00 - 8:15 p.m.
4 cr.

Prereq: ECON-001, ECON-002, and MATH-035 (Calculus I). After an introduction to descriptive statistics, this course develops elementary probability theory and the theory of statistical estimation and inference. Regression analysis, the primary tool for empirical work in economics, is introduced and developed. Electronic data acquisition and computer applications are also treated. Emphasis is given to establishing the foundation that students need for Introduction to Econometrics. Lab sessions meet weekly to discuss homework and the use of computers.

International Trade
Ersal
ECON-243-10
MTWR 10:30 a.m. - 12:30 p.m.
3 cr.

Prereq: ECON-001. This course covers the theory and practice of international trade. The first part of the course develops the classical and modern theories of the determination of the pattern of commodity trade between nations. The second part of the course covers trade policy and the role of institutions in managing world trade. (Required for SFS students.)

International Finance
Mykhaylova
ECON-244-10
MTWR 3:40 - 5:40 p.m.
3 cr.

Prereq: ECON-002. This course deals with the theory and practice of international finance. Concepts of balance of payments and exchange rates are developed, followed by macroeconomic tools in an open economy. Balance of payments adjustments will be analyzed under fixed and flexible exchange rate systems. Macroeconomic topics, namely inflation, unemployment, and monetary and fiscal policies will be discussed in the context of an open economy. (Required for SFS students.)

SECOND SESSION (July 7 - August 8)

Principles of Microeconomics
Onmus
ECON-001-20
MTWR 1:30 - 3:30 p.m.
3 cr.

Principles of Macroeconomics
Islamaj
ECON-002-20
MTWR 3:40 - 5:40 p.m.
3 cr.

Microeconomic Theory
Poon
ECON-101-20
MTWR 1:30 - 3:30 p.m.
3 cr.

Prereq: ECON-001 and MATH-035 (Calculus I). This course covers value and distribution, including the theory of consumer choice, the theory of the firm, the impact on allocation of resources by different market structures ranging from competition to monopoly, game theory and its applications, and general equilibrium analyses. The concepts are given operational content where possible but the emphasis is on the development of analytic tools.

Introduction to Econometrics
Schroeder
ECON-122-20
Lec: MTWR 3:40 - 5:55 p.m.
Lab: W 7:00-8:15 p.m.
4 cr.

Prereq: ECON-121 and MATH-035 (Calculus I). This course develops the theory and applications of regression analysis, which is the primary tool for empirical work in economics. Emphasis is placed on techniques for estimating economic relationships and testing economic hypotheses.

International Trade
Yang
ECON-243-20
MTWR 10:30 a.m.- 12:30 p.m.
3 cr.

International Finance
Ikeda
ECON-244-20
MTWR 10:30 a.m. - 12:30 p.m.
3 cr.

Prereq: ECON-002. This course deals with the theory and practice of international finance. Concepts of balance of payments and exchange rates are developed, followed by macroeconomic tools in an open economy. Balance of payments adjustments will be analyzed under fixed and flexible exchange rate systems. Macroeconomic topics, namely, inflation, unemployment, and monetary and fiscal policies will be discussed in the context of an open economy. (Required for SFS students.)

SPECIAL SESSION (July 7-July 28)

Economics in Public Policy
Rustici
ECON-007-11 (Non-IPJ Students)
Times and Tuition TBA

Prereq: ECON-001 and ECON-002. This course presents lectures and case studies to give aspiring journalists a clear understanding of free-market economic principles necessary to report news stories. By examining public debates about economic policy, you will learn about the inter-related nature of politics and economics. Consult with instructor for appropriate assignment of section. To apply for this program, please see Institute on Political Journalism.

SPECIAL SESSION (June 12-July 24)

Comparative Economic Systems
Staff
ECON-257-11 (Non-ICPES Students)
Times and Tuition TBA

Prereq: ECON-002. ECON-257 meets in conjunction with GOVT-230. This course is an examination of the advantages of capitalism and history of free-market economics. Consult with instructor for appropriate assignment of section. To apply for this program, please see Engalitcheff Institute on Comparative Political and Economic Systems.