Subject	Course Number	Long Course Title	Description
ECON	100	Introductory Microeconomics	A study of the principles, concepts, and methods of economic analysis, with a theoretical focus on the behaviors of consumers and firms. Practical applications of the theories cover the free trade debate, market responses to environmental damage, earnings inequality, antitrust legislation, and many other topics. Especially appropriate for those who intend to take additional economics courses.
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. Especially appropriate for those who only want to take one economics course.
ECON	170	Financial Accounting	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 control and evaluate business and economic activities.
ECON	190	Tutorial Studies in Economics	Introductory readings, discussions, and essays in economic problems of special interest to the student.
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.
ECON	199	Independent Study in Economics	Introductory research on a topic of the student’s choice, organized in consultation with an instructor.
ECON	200	Economic Development	Economic analysis of particular situations and policy questions faced by developing countries. Topics include economic growth and inequality, poverty, demographics, rural-urban transitions, factor and financial markets, and trade policies.
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.
ECON	205	Topics in International Economics	The first portion of the course introduces students to the major theoretical foundations and empirical research on international trade. The second portion of the course uses an open economy macroeconomic framework to explain the balance of payments, various exchange rate regimes, and the role of government.
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.
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.
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.
ECON	240	Political Economy of Regulation	An introduction to the political economy of economic regulation, which includes an analysis of both the economic incentives of those people being regulated and the political incentives of those people doing the regulating. In addition to an overview of this field, this course focuses on developing a common case study whose topic changes from year to year.
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.
ECON	270	Public Sector Economics: Taxation Analysis	An analysis of the effects of governmental taxation policies on the allocation of resources and on the distribution of income. Considerable attention to analyzing the equity and efficiency implications of various tax instruments.
ECON	275	Public Sector Economics: Expenditure Analysis	This course examines market deficiencies, including externalities and public goods, as well as the policy responses to these deficiencies. Policy selection will be discussed in terms of voting behavior and public-choice theory. The course also will address cost-benefit analysis, governmental subsidies, and specific government programs such as Social Security.
ECON	280	Environmental Economics	An analysis of the problems associated with market and governmental allocation of natural and environmental resources. The course explores the use of externalities, cost-benefit analysis, and various governmental policy tools to analyze actual effects (efficiency and equity implications) of environmental policies on our economy. The course includes extensive analyses of ongoing environmental issues through a group project.
ECON	285	Natural Resource Economics	This course explores the economics of both exhaustible and renewable natural resource extraction. Topics include oil and mineral extraction, fisheries, forest and water management, and biodiversity. The course includes extensive study of current issues associated with the use of natural resources through a group project
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.
ECON	300	Microeconomic Theory	A study of the microeconomic foundations of economics. The course focuses on gaining a strong understanding of consumers, firms, and the equilibria in a perfectly competitive economy, with an introduction to microeconomic models that feature market power, externalities, and asymmetric information, the most significant deviations from perfect competition.
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.
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. A research paper is a central part of the course.
ECON	390	Tutorial Studies in Economics	Intermediate readings, discussions, and essays in economic problems of special interest to the student.
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.
ECON	399	Independent Study in Economics	Intermediate research on a topic of the student’s choice, organized in consultation with an instructor.
ECON	400	Industrial Organization	An analysis of behavior in industrial markets where firms’ revenues or costs are interdependent. Introduces game theory, the mathematics of interdependent choices.
ECON	410	Game Theory and Applications	This course develops game theory, the mathematics of interdependent individuals seeking to promote their self interest, and focuses on applying it within economics, political science, biology, psychology, and philosophy.
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.
ECON	425	Entrepreneurship and Financial Markets	This course adds the dimension of entrepreneurship for majors to the economics curriculum at Lawrence. Though the course will emphasize the great variety of entrepreneurial and innovative activity in the financial markets in the recent past, it will start with an overview of entrepreneurship generally. The course will rely heavily on the expertise of invited speakers (Lawrence alumni, NEW North, Inc. CEOs). Each invited expert will give a guest lecture and agree to advise a team of students on their project.
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.
ECON	440	Public Expenditure	A study of governmental expenditures in the American economy and of ways to evaluate their effects on economic efficiency and on the distribution of income.
ECON	450	Economics of the Firm	An analysis of the economic incentives coming from within the firm to determine their effect on individual behavior and the firm’s resulting performance. These incentives may come from an individual’s personal goals, transactions costs, compensation schemes, legal requirements, or other sources. Introduces game theory, the mathematics of interdependent choices.
ECON	460	International Economics	An inquiry into the historical and theoretical foundations of international trade, leading to a critical analysis of contemporary problems and policies.
ECON	470	Labor Economics	A survey of labor economics that covers wage determination, minimum wages, employment and welfare policies, education and on-the-job training, earnings inequality, and worker migration and turnover. A research paper is a central part of the course.
ECON	480	Advanced Environmental Economics	Course content incorporates the substantive topics raised in Economics 280 but with more analytical breadth and depth. Students use microeconomic tools to understand the existing academic literature and to address the efficient use of natural and environmental resources.
ECON	490	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. Introduces game theory, the mathematics of interdependent choices.
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.
ECON	500	Advanced Microeconomics	Advanced study of the theory of the firm, the theory of consumer behavior, and market equilibrium.
ECON	520	Advanced Macroeconomics	A course in two parts. The first half is an analysis of contemporary economic models, with an emphasis on explaining income, employment, and inflation. The second half is a seminar on such topics as stabilization policy, disinflation, and forecasting.
ECON	590	Tutorial Studies in Economics	Advanced readings, discussions, and essays in economic problems of special interest to the student.
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.
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.
ECON	690	Tutorial Studies in Economics	Advanced readings, discussions, and essays in economic problems of special interest to the student.
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.
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.