Please note: The course descriptions displayed here are current as of Wednesday, July 1, 2015, but the official Course Catalog should be used for all official planning.

ECON 100
Introductory Microeconomics

A first course in economics focusing on the basic analytical framework used by contemporary economists. The central topics typically include supply and demand, market competition, market power, incomplete markets (e.g., externalities and public goods), trade, and taxation. Classroom experiments are frequently employed to develop economic intuition. Units: 6.

ECON 120
Introductory Macroeconomics

A study of the principles, concepts, and methods of economic analysis, with a theoretical focus on the determination of national income. Special attention given to governmental expenditure and taxation, monetary policy, inflation, and unemployment. Units: 6.

ECON 151
Introduction to Environmental Policy

This course applies principles of economics and political science to environmental issues, including pollution, resource limitation, and environmental degradation. It is designed to foster an understanding of the environmental policy-making and regulatory process in the United States and globally. Units: 6.
Also listed as Environmental Studies 151, Government 151

ECON 170
Financial Accounting and Entrepreneurial Ventures

A study of accounting principles and procedures, leading to a review of financial statements and to an understanding of how accounting data are used to analyze business and economic activities. Units: 6. Prerequisite: Sophomore standing
Also listed as Innovation & Entrepreneurship 110

ECON 191
Directed Study in Economics

Directed study follows a syllabus set primarily by the instructor to meet the needs or interests of an individual student or small group of students. The main goal of directed study is knowledge or skill acquisition, not research or creative work. Units: 1 TO 98. Prerequisite: Counter Registration Required.

ECON 195
Internship in Economics

Applied work with a private firm or public-sector agency in economics, arranged under the direction of an instructor in the department. In each case, the academic credit is based on related readings, reports, and presentations. Units: 1 TO 98. Prerequisite: ECON 300, 320, or 380; Counter Registration Required

ECON 200
Economic Development

This course seeks to provide students with a broad based understanding of economic development and the choices countries face. To obtain such an understanding, students will read the works of contemporary economists who provide a variety of approaches to poverty alleviation and the tradeoffs that must be confronted. Emphasis will be placed on close reading, class discussion, and on writing a number of papers that compare and contrast different views of economic development. Units: 6. Prerequisite: ECON 100 or 120
Also listed as Government 276

ECON 202
Global Economic Relations

This course covers the major concepts utilized in the field of international political economy. Major issues covered include globalization, monetary policy, trade policy, and the role of international institutions such as the WTO. Units: 6. Prerequisite: ECON 100 or ECON 120
Also listed as Government 275

ECON 205
Introduction to International Economics

This course aims to develop an understanding of international economic issues and policies in open economies. The course will provide a general body of knowledge on topics such as gains from trade; patterns of trade; effect of trade on welfare; exchange rate policy regimes; international organizations; financial crises; and the effect of government policies on trade and the exchange rate. You will get exposed to economic modeling and learn analytical tools that can be applied to understand the changing world economy and analyze problems in international economic policy. You are encouraged to explore the potential and limitations of international economics in dealing with real-world problems. This course will assist you in improving your economic writing skills as well as your ability to read critically and understand discussions on international economic issues in the press. Units: 6. Prerequisite: ECON 100 and ECON 120

ECON 206
Field Experience in Development

Students engaged in this course will have the opportunity to do field research in a developing country. Each student will develop and implement a project that concerns economic, political, and/or environmental issues important in Sierra Leone, Jamaica, or another selected country. Students will also have the opportunity to learn from both national and local leaders in political, economic, environmental, and social development issues. Class members will travel to a developing country during a term break. Students must register for this course in the term prior to the planned travel and in the subsequent term, when they will present their research to the wider Lawrence community.

Location for 2014-15: Students will travel to Jamaica during spring break.
Units: 3. Prerequisite: Completed or concurrent enrollment in ENST 300, ECON 205, or GOVT 500 (Research Methods in Comparative Politics and International Relations); ECON 170 and ECON 211
Also listed as Environmental Studies 311, Government 401

ECON 208
Sustainable China: Environment and Economy

This course integrates environmental and economic topics relevant for understanding sustainability in the Chinese context, including economic development, natural resource management, urban growth, and environmental policy. It is a prerequisite for a December study trip to China. Units: 6. Prerequisite: Limited to students selected for the Sustainable China study trip
Also listed as Government 208, Environmental Studies 208

ECON 211
In Pursuit of Innovation

This course acquaints students with innovation—its objectives, major characteristics, and likely origins. The course focuses mainly on scientific and /or technological innovation; it will be taught as a joint physics/economics offering. The course will include one or two lectures per week along with student presentations and hard-charging discussion based on readings from books, articles and case studies. Outside resource individuals (in most cases Lawrence alumni) who are well-placed and experienced in innovation will offer advice and guidance to particular student projects. May not be taken on an S/U basis. Units: 6. Prerequisite: Sophomore standing
Also listed as Innovation & Entrepreneurship 100

ECON 215
Comparative Economic Systems

This course introduces students to the different ways societies have organized economic activity in the past and in the present as well as to how economic and social policy questions are addressed under these different arrangements. Students will study the economies of the Western world, the former Soviet bloc countries, and Asian countries at various stages of economic development. Units: 6. Prerequisite: ECON 100 or ECON 120

ECON 220
Corporate Finance

An analysis of financial decisions made by firms and the nature of the stock and bond markets from which they fund operations. Topics include financing decisions, capital budgeting decisions under certainty and risk, stock and bond market’s efficiency and bubbles, dividend policy, and debt/equity capital structure. Units: 6. Prerequisite: ECON 100 or ECON 120, and sophomore standing

ECON 223
Quantitative Decision-Making

The students will learn how to develop formal, quantitative approaches to structuring difficult problems, particularly those problems involving probabilistic factors. We will develop and practice the steps of defining a problem, gathering data, formulating a model, performing numerical calculations, evaluating numerical information, refining the model, analyzing the model's alternatives, and communicating the results. Units: 6. Prerequisite: Sophomore standing
Also listed as Mathematics 223

ECON 225
Decision Theory

This course will present a thorough introduction to decision theory, the study of how people should or do make decisions. Building on that foundation, game theory, the science of strategy, will be introduced, with economic applications. Units: 6. Prerequisite: ECON 100 or ECON 120

ECON 245
Law and Economics

Along with an introduction to legal analysis, a study of the political economy of four core areas of the law: property, contracts, torts, and crime and punishment. Applies rational-choice theories to both economic and political decisions involving the law. Units: 6. Prerequisite: ECON 100 or ECON 120 or consent of instructor

ECON 250
Urban Economics

A study of the development of the urban economy focusing on the interaction among business, household, and governmental decisions that affect the allocation of land. Each offering will apply microeconomic economic analysis to one or more public policy topics, such as urban sprawl, urban economic growth, housing, education, transportation, or crime. Units: 6. Prerequisite: ECON 100

ECON 251
The Economics of London

This course provides a significant variation on the Urban Economics course (ECON 250) that is offered on campus. First, it focuses on one city, London UK, as the context for the analysis. Secondly, it addresses the London economy from both economic history and contemporary economic analysis perspectives. London has remained a vibrant city from the late middle ages to the present through a variety of changes to its character, its economy, and the diversity of its population. Units: 6. Prerequisite: Only open to students attending the London Centre.

ECON 255
Start-Up Theatre

Open to students from theatre, economics, and other students interested in entrepreneurship in the performing arts. Topics change each year. May be repeated when topic is different up to 6 total units.

Topic for 2014-15: Site Specific Performance
We founded the Greyfell Theatre Company (www.greyfell.org) during the inaugural offering of Start-up Theatre at Björklunden in December of 2013. This year we'll explore ways to bring the Greyfell experience to non-theatre venues locally, including a collaboration with our Innovation & Entrepreneurship partners, Rabbit Gallery, as they continue to create temporary art galleries in commercial spaces in Downtown Appleton. Units: 1 TO 3. Prerequisite: Sophomore standing
Also listed as Theatre Arts 255, Innovation & Entrepreneurship 255

ECON 271
Public Economics

Public economics covers a range of topics from taxation to social insurance and redistribution to homeland security. The course develops a template for framing and analyzing public policy issues that provides a basis for understanding the rationale for government intervention, the alternative policy instruments that can be used to affect economic outcomes, and the economic tools used to evaluate the effects of intervention. Units: 6. Prerequisite: ECON 100 or ECON 120
Also listed as Government 274

ECON 280
Environmental Economics

The course shows how economists analyze environmental problems and the types of solutions they propose (if any). Topic coverage includes property rights and externalities, cost-benefit analysis, regulatory policy instruments, the interplay between policy and innovation, and basic models of political economy. Units: 6. Prerequisite: ECON 100 or ENST 151
Also listed as Environmental Studies 280

ECON 290
The Economics of Medical Care

An analysis of how the economic organization of medical care affects the health and well-being of the population. Topics include who is treated, how much the treatment costs, and who pays the bill. Particular emphasis given to the roles of insurance and various national health policies and reform proposals. Units: 6. Prerequisite: ECON 100 or ECON 120
Also listed as Biomedical Ethics 290

ECON 291
Health Policy: A Comparison of U.S. and U.K. Approaches

This course compares U.K. and U.S. health systems, markets, and public health policies. In particular, the course will analyze trade-offs made in each country among access to care, the cost of care and the quality of care as well as how resources are generated and allocated for each system. Units: 6. Prerequisite: Only open to students attending the London Centre.
Also listed as Biomedical Ethics 291

ECON 295
Topics in Economics

Each offering will build on modeling and reasoning techniques developed in the introductory-level courses (ECON 100 or 120). Topics depend on the instructor and will vary year-to-year. Topics include, but are not limited to, economics of the arts, financial economics, economics of sports, and economic history. May be repeated for credit if the topic is different.

Topic for Spring 2015: Finance
Finance is an extension of the financial accounting course (ECON 170), and surveys a breadth of financial topics: financial management and value creation, assessing liquidity and operational efficiency, measuring cash flows, estimating cost of capital, designing a capital structure, valuing and acquiring a business, and operating internationally. Prerequisite for this class includes completion of ECON 170. Units: 6. Prerequisite: ECON 100 or ECON 120

ECON 300
Microeconomic Theory

A study of the microeconomic foundations of economics. The course focuses on equilibrium models for consumers and firms in competitive markets, as well as deviations from perfect competition. Units: 6. Prerequisite: Sophomore standing and ECON 100 and MATH 140 or MATH 130

ECON 320
Macroeconomic Theory

An exploration of contemporary theories of employment, income, inflation, and stabilization as regards the United States and other industrialized countries. Emphasis on the application of models to foster understanding of macroeconomic policy. Units: 6. Prerequisite: Sophomore standing and ECON 100 or 120, MATH 130 or 140. ECON 300 is recommended

ECON 330
History of Economic Thought

The course examines the origins and development of ideas pertaining to production and distribution of goods and services in ancient to modern civilizations. Special attention will be devoted to ideas (and their authors as well as their critics) that led to the emergence of market-oriented societies. Units: 6. Prerequisite: ECON 100 or ECON 120

ECON 380
Econometrics

Statistical techniques and statistical problems applicable to economics, focusing on ordinary least-squares regression, classical inference, and detections of and adjustments for violations of the Classical Assumptions. Units: 6. Prerequisite: Sophomore standing and MATH 207, and either ECON 300 or ECON 320

ECON 390
Tutorial Studies in Economics

Intermediate readings, discussions, and essays in economic problems of special interest to the student. Units: 1 TO 98. Prerequisite: Counter Registration Required.

ECON 391
Directed Study in Economics

Directed study follows a syllabus set primarily by the instructor to meet the needs or interests of an individual student or small group of students. The main goal of directed study is knowledge or skill acquisition, not research or creative work. Units: 1 TO 98. Prerequisite: Counter Registration Required.

ECON 395
Internship in Economics

Applied work with a private firm or public-sector agency in economics, arranged under the direction of an instructor in the department. In each case, the academic credit is based on related readings, reports, and presentations. Units: 1 TO 98. Prerequisite: ECON 300, 320, or 380; Counter Registration Required

ECON 399
Independent Study in Economics

Intermediate research on a topic of the student’s choice, organized in consultation with an instructor. Units: 1 TO 98. Prerequisite: Counter Registration Required.

ECON 400
Industrial Organization

Industrial organization is the study of how markets are structured and why it matters. The course begins with the standard applied microeconomic treatment of economic regulation (e.g., antitrust, natural monopoly, advertising restrictions) and then explores disequilibrating phenomena, including entrepreneurship and innovation. Units: 6. Prerequisite: ECON 300, ECON 380 recommended

ECON 405
The Economics of Innovation & Entrepreneurship

This course examines economic theories of innovation and entrepreneurship (I&E), the role of I&E in the economy, and policy questions related to I&E. Theories are discussed in the context of the history and current prevalence of innovation and entrepreneurship in modern economies. Units: 6. Prerequisite: ECON 300

ECON 410
Advanced Game Theory and Applications

This course develops game theory, the science of strategic interaction, i.e., interdependent individuals seeking to promote their self interest, with applications in economics, biology, and philosophy. The mathematical nature of game theoretic models will be reflected in a focus on problem solving. Units: 6. Prerequisite: ECON 300 and either ECON 225 or consent of instructor

ECON 415
Individuality & Community

This course studies how political theorists responded to the emergence of open societies in the West. It focuses on the scope of personal autonomy, the consequences of commerce and luxury, the best political and economic arrangements, and other topics explored by writers from the Renaissance to the Twentieth Century. Units: 6. Prerequisite: Junior standing or consent of instructor
Also listed as Government 405

ECON 420
Money and Monetary Policy

An examination of the role of money in market economies and its influence on the performance of such economies. This course emphasizes the role of central banks, financial institutions, and global capital flows. Units: 6. Prerequisite: ECON 320

ECON 421
Investments

This is an applied course in financial economics. It aims to develop an understanding of the principles of modern finance theory and their application to the study of financial markets, regulations, investment instruments, asset valuation, portfolio management and efficient diversification. Units: 6. Prerequisite: ECON 300 or ECON 320 or ECON 380

ECON 425
Entrepreneurial Ventures

This course applies microeconomic thinking to the development of entrepreneurial enterprises. Students will work in teams to develop plans for a new enterprise. The course relies heavily on the expertise of invited speakers (including alumni) and the analysis of case studies. Each invited expert will give a guest lecture, lead discussion of a case study, and mentor students in their projects. Units: 6. Prerequisite: I-E 110 and one of: I-E 100, I-E 280, or I-E 248
Also listed as Innovation & Entrepreneurship 300

ECON 430
Capital and Growth

An examination of the determinants of long-term economic growth and productivity. Particular attention given to the role of capital, international competitiveness, savings, tangible investment, and the role of public policy in all such areas. Units: 6. Prerequisite: ECON 300 and 320

ECON 444
Political Economy of Regulation

This course focuses on the tension between politics and expertise that characterize the administrative regulatory state often called "the fourth branch of government." Several competing models of political economy shape an exploration of the continuing evolution of the U.S. regulatory system, the process by which regulations are proposed, written, implemented, and enforced, and the tools used to evaluate the costs and benefits of regulations. Units: 6. Prerequisite: ECON 380 or MATH 207 or GOVT 271
Also listed as Government 444

ECON 450
Economics of the Firm

Even in a “market” economy, the preponderance of economic activity is carried out through firms and other organizations. The course examines economic theories of the firm, and explores some of the canonical questions, such as why are there firms, how the separation of ownership and control of a firm shapes decision making, what determines the boundary between organizations and markets (e.g., make-or-buy decisions), what types of firms are most innovative, and how new technologies affect organizational structure. Units: 6. Prerequisite: ECON 300 or GOVT 271

ECON 460
International Trade

An inquiry into the historical and theoretical foundations of international trade, leading to a critical analysis of contemporary problems and policies. Units: 6. Prerequisite: ECON 300

ECON 465
International Finance

The course focuses on macroeconomic issues and policies in open economies such as the United States. The course will provide a general body of knowledge on topics such as exchange rate policy regimes; international financial organizations; the interaction between macroeconomic policies and exchange rate regimes; and financial crises. It presents economic models and analytical tools that can be applied to understand the changing world economy and analyze problems in international economic policy. Units: 6. Prerequisite: ECON 320

ECON 495
Advanced Topics in Economics

Topics will vary with instructor and year; thus, if the substance of the course changes, students may take Advanced Topics more than once. Each offering will employ analytical techniques developed in the intermediate-level courses (Economics 300, 320, and 380.) Substantive topics might include, but would not be limited to, economics of the arts, economics of sports, computational finance, international finance, public sector economics, economics of the environment, and studies of specific industries. Units: 6. Prerequisite: ECON 300

ECON 500
Advanced Microeconomics

Advanced topics in microeconomics that prepare students for a first graduate course in microeconomics. Units: 6. Prerequisite: ECON 300; MATH 300 or 310 recommended

ECON 520
Advanced Macroeconomics

Advanced topics in macroeconomics that prepare students for a first graduate course in macroeconomics. Units: 6. Prerequisite: ECON 300, 320, and 380

ECON 590
Tutorial Studies in Economics

Advanced readings, discussions, and essays in economic problems of special interest to the student. Units: 1 TO 98. Prerequisite: Counter Registration Required.

ECON 591
Directed Study in Economics

Directed study follows a syllabus set primarily by the instructor to meet the needs or interests of an individual student or small group of students. The main goal of directed study is knowledge or skill acquisition, not research or creative work. Units: 1 TO 98. Prerequisite: Counter Registration Required.

ECON 595
Internship in Economics

Applied work with a private firm or public-sector agency in economics, arranged under the direction of an instructor in the department. In each case, the academic credit is based on related readings, reports, and presentations. Units: 1 TO 98. Prerequisite: ECON 300, 320, or 380; Counter Regsitration Required

ECON 599
Independent Study in Economics

Advanced research on a topic of the student’s choice, organized in consultation with an instructor. Students considering an honors project should register for this course. Units: 1 TO 98. Prerequisite: Counter Registration Required.

ECON 601
Senior Experience: Reading Option

Students focus on a monograph &/or readings appropriate for advanced undergraduates, engage in active discussion, and produce a paper that expands upon or responds to the readings. Successful completion satisfies the department’s Senior Experience requirement. Units: 3. Prerequisite: Senior standing; at least two advanced economics courses (400- or 500-level)

ECON 602
Senior Experience: Research Paper Option

Students will produce a well-researched paper that meets standards of profession. To register, students must submit to instructor a paper prepared in a 400-level economics course with a one-page proposal on how it will be extended, refined and polished in content and form. Instructor’s approval of this proposal is prerequisite for registration. Units: 3. Prerequisite: Senior standing; at least two advanced economics courses (400- 500-level)

ECON 690
Tutorial Studies in Economics

Advanced readings, discussions, and essays in economic problems of special interest to the student. Units: 1 TO 98. Prerequisite: Counter Registration Required.

ECON 691
Directed Study in Economics

Directed study follows a syllabus set primarily by the instructor to meet the needs or interests of an individual student or small group of students. The main goal of directed study is knowledge or skill acquisition, not research or creative work. Units: 1 TO 98. Prerequisite: Counter Registration Required.

ECON 695
Internship in Economics

Applied work with a private firm or public-sector agency in economics, arranged under the direction of an instructor in the department. In each case, the academic credit is based on related readings, reports, and presentations. Units: 1 TO 98. Prerequisite: ECON 300, 320, or 380; Counter Registration Required

ECON 699
Independent Study in Economics

Advanced research on a topic of the student’s choice, organized in consultation with an instructor. Students considering an honors project should register for this course. Units: 1 TO 98. Prerequisite: Counter Registration Required.

Facebook Twitter Instagram YouTube