Economics

weekly with a faculty coordinator and are evaluated by the site supervisor and faculty coordinator. A comprehensive portfolio and formal presentation are required. This one-semester internship course counts as an Emmanuel College elective, but not as an elective toward the biology, biostatistics, chemistry or mathematics major. Fall and Spring semesters. 4 credits Prerequisites: INT 1001, junior or senior status, and permission of the department.

ECON1101 Principles of Microeconomics

Social Analysis (SA) Social Science (SS)

Microeconomics focuses on how individual markets work. The emphasis is on how consumers make choices and how privately owned businesses produce goods, set wages and earn profits. It also addresses policies designed to overcome market failure, including antitrust law, taxation, environmental regulation, and the redistribution of income. Tools of analysis include supply and demand, profit maximization in competitive and monopolistic markets, and the trade off between incentives and equity in policy design. Microeconomic theory is applied to a variety of markets, such as energy, software, pharmaceuticals, housing and labor markets. Fall and spring semesters. 4 credits

ECON1103 Principles of Macroeconomics

Social Analysis (SA) Social Science (SS)

Macroeconomics studies the well-being of societies by focusing on unemployment, economic growth, inflation, poverty, income inequality, and globalization. There is a multitude of contributing factors, including the actions of governments, individuals, and firms. Specifically, the Federal Reserve, tax and trade policies, financial systems, values and beliefs all contribute to the well-being of a society in complex ways. Macroeconomics provides a theoretical framework for understanding these interactions, causes and their effects, and informing difficult policy decisions. Furthermore, macroeconomics enables individuals and firms to understand the economic environment that affects them both personally and professionally. Fall and spring semesters. 4 credits

ECON2101 History of Economic Thought This course revolves around key ongoing debates in economic theory over the nature of economic growth, the ideal economic system, and the role of government in the economy. The historical, political, and philosophical context of the evolution of economics is examined. As a survey of economic thought, the course also provides an overview of the entire body of economic theory, from the inception of economics to current techniques and ideas. Fall semester. 4 credits Prerequisites: ECON1101

ECON2113 The Politics of International Economic Relations This course will explore the interrelationships of economics and politics in international arenas. Students will therefore study the interdependence of economics, questions of economic development, the power of multinational corporations, international trade and trade agreements, oligopolies, oil, environment and arms trade. Fall and spring semesters. 4 credits Prerequisite: Either one economics or one political science course (Cross-referenced with POLSC2409)

ECON2113 The Politics of International Economic Relations (Travel Course) This course will explore the interrelationships of economics and politics in international arenas. Students will therefore study the interdependence of economics, questions of economic development, the power of multinational corporations, international trade and trade agreements, oligopolies, oil, environment and arms trade. The class will travel to China as it is an increasingly important economic and political actor in the international arena. It is therefore an excellent vehicle for understanding the financial and power relationships that impact the globalized world. Fall and spring semesters. 4 credits Prerequisite: Either one economics or one political science course (Cross-referenced with POLSC2409)

ECON2203 An Economic View of the World

Social Analysis (SA)

This seminar course will use the tools and perspective of economics to consider current global issues. Each week we’ll consider the hot topics and controversies of the day in real time, including economic growth and development, market bubbles and crashes, patterns of consumption and income, political relationships and international networks of production, consumption and trade. We will focus on the requirement of individuals and societies to make tradeoffs to achieve their goals, and on the ethical and social justice implications of these tradeoffs. curiosity about the world and what happens in it each week. Students will develop an understanding of the economic way of thinking, a familiarity with world events, and the skills to research and communicate in their areas of interest. Fall semester. 4 credits

ECON2205 Urban Economics Three-quarters of the U.S. population and approximately half of the world’s population live in cities. If economics is the study of how individuals and societies choose to use scarce resources, then this course is the study of one scarce resource in particular: space. We will focus on the economics of cities and urban areas. We will ask questions such as: Why do cities exist? Why do some cities/areas of metropolitan areas grow more rapidly than others? How do firms and households decide where to locate within cities? What determines the price of land and how this varies across space? What are the spatial dimensions of local government policy and the relationship between the city, suburban and state governments? How do these factors influence urban problems such

as housing, poverty, crime and economic development? A secondary theme of this course will be to consider the particular economy of Boston as our urban home. Spring semester, odd years. 4 credits Prerequisite: ECON1101

ECON2301 Intermediate Microeconomics This course is designed to extend the knowledge of the basic microeconomic principles that will provide the foundation for the future work in economics and give insight into how economic models can help us think about important real world phenomena. This course will show how market mechanisms solve extremely complex resource allocation problems. It presents a logical and coherent framework in which to organize observed economic phenomena. Several economic “models” are developed and analyzed in order to help explain and predict a wide variety of economic (and sometimes, seemingly noneconomic) phenomena. Topics include supply and demand interaction, utility maximization, profit maximization, elasticity, perfect competition, monopoly power, imperfect competition, and game theory. Spring semester. 4 credits Prerequisite: ECON1101, MATH1118 and MATH1111 or MATH1121

ECON2303 Intermediate Macroeconomics This course uses economic analysis to examine selected issues in health care. The course includes an examination of current and proposed private and government health programs in terms of access, equity, and efficiency and their potential impact on the structure of health care delivery in the United States. In addition, the federal health budget, cost-benefit analysis, and an overview of management techniques for health institution administration are discussed. Fall semester, even years. 4 credits Prerequisite: ECON1103, MATH1118 and MATH1111 or MATH1121 ECON3103 The International Economy This course will analyze the workings of the international economy and the economic interdependencies between nations using current theoretical models. Four major topics are covered: international trade agreements, the international financial system, multinational corporations, the relationship between rich and poor countries and the prospects for economic development. Fall semester, even years. 4 credits Prerequisites: ECON1101, ECON1103 and MATH1118

ECON3105 Money and Financial Markets What is money? How does the stock market work? How do financial markets impact the economy? This course will analyze the role of financial markets and institutions in the world economy, with special emphasis on the U.S. economy, and an in-depth look at the banking industry, the bond market, markets in stocks, foreign currencies, financial futures and derivatives. The course explores the impacts of financial activity on real economic activity and considers the effects of government policies and regulations on financial markets. Fall semester, odd years. 4 credits Prerequisite: ECON1103 and MATH1118

ECON3113 Economics of Health Care This course uses economic analysis to examine selected issues in health care. The course includes an examination of current and proposed private and government health programs in terms of access, equity, and efficiency and their potential impact on the structure of health care delivery in the United States. In addition, the federal health budget, cost-benefit analysis, and an overview of management techniques for health institution administration are discussed. Spring semester, odd years. 4 credits Prerequisite: ECON1101and MATH1118 2021-2022 Academic Catalog

ECON3115 Economics and the Environment This course examines the environmental impact of economic activity and effectiveness of environmental policy. Topics include: the depletion of minerals and oil, management of renewable resources such as water and forests; the conservation of biodiversity; mitigation of global climate change; and the regulation of pollution. Environmental policies are assessed in terms of costs, benefits, ease of implementation and the prospects for encouraging sustainable development. Spring semester, even years. 4 credits Prerequisite: ECON1101, MATH1118

ECON3496: Economics Internship (crosslisted with MGMT3496 and ACCT3296) The Economics internship involves experiential learning in a for-profit, not-forprofit firm or government agency related to the student’s prospective career. The course requires that students apply theoretical knowledge to a practical setting, and provides them with the opportunity to gain experience in their chosen career and make a contribution to the organization in which they complete their internship. In addition to working at their internship site, students attend weekly seminar or individual sessions that will deal with theoretical, practical and ethical aspects of work. Together with the internship supervisor, a project is defined for the student that will add value to the organization and that will help the student build expertise and confidence in an area of mutual interest. The student completes the project as part of the internship. Fall and spring semesters. 4 credits Prerequisites: Completion of INT1001, two of the Economics electives for the major, at least one of which is a 3000-level course, and permission of the instructor. This course is limited to Economics Majors. ECON4178-4179 Directed Study This course is limited to seniors. Fall and spring semesters. 4 credits Prerequisite: Permission of instructor

ECON 4201 Economics Senior Seminar Topics in major areas of economics will be discussed. This course fulfills the capstone requirement in economics by requiring students to apply their analytical, quantitative and research skills in the composition of a senior paper. Each student will write a senior thesis and present his/her research in the seminar. Spring semester. 4 credits Prerequisites: Completion of Intermediate Microeconomics and Intermediate Macroeconomics; and one 3000-level Economics elective