ECON BC 1003x and y Introduction to Economic Reasoning

Covers basic elements of microeconomic and marcoeconomic reasoning at an introductory level. Topics include Individual Constraints and Preferences, Production by Firms, Market Transactions, Competition, The Distribution of Income, Technological Progress and Growth, Unemployment and Inflation, the Role of Government in the Economy.

This one-semester introductory course replaces the traditional two-semester introductory courses previously offered, ECON BC1001 Introduction to Macroeconomics and ECON BC1002 Introduction to Microeconomics. Note: Students cannot get credit for ECON BC1003 if they have taken either ECON BC1001 or ECON BC1002 or the Columbia introductory course ECON W1105.

ECON BC 1007x and y Mathematical Methods for Economics

Covers basic mathematical methods required for intermediate theory courses and upper level electives in economics. Topics include sets and functions, matrix algebra, equilibrium analysis, comparative statics, constrained optimization, and linear programming. This course satisfies the Calculus requirement for the Economics track of the Economics major.

ECON BC 2010y The Economics of Gender

Examination of gender differences in the U.S. and other advanced industrial economies. Topics include the division of labor between home and market, the relationship between labor force participation and family structure, the gender earnings gap, occupational segregation, discrimination, and historical, racial, and ethnic group comparisons.

ECON BC 2014x Topics in Economic History

Topics vary in content. See departmental listing or instructor for the current topic.
General Education Requirement: Historical Studies (HIS).
3 points

ECON BC 2018x The Great Depression

Examines why the Great Depression emerged, how its effects were manifest, and what policies were enacted in response. Drawing on Harvard Business School cases we will explore how policymakers analyze economic situations and what tools they have to deal with them. We will also probe connections between the Great Depression and today's "great recession," and consider the lessons of each. - D. Spar
Prerequisites: Sophomore standing. Enrollment limited to 56 students.
2 points

ECON BC 2029x Fed Challenge Workshop

To prepare students to compete in the annual Federal Reserve Bank of NY College Fed Challenge, a competition among undergraduate teams from colleges and universities in FRBNY region. The goal is a thorough understanding of current US and global macroeconomic conditions, macroeconomics theories, financial markets and the role of the Federal Reserve system.

ECON BC 2075x Logic Limits of Economic Justice

Introduce students to problems of economic justice under capitalism. Course has three goals: (1) expose students to debates between economics and philosophers about the meaning and nature of justice, (2) explore conflict between efficiency and justice, (3) examine implications of justice for gender equality, intergenerational equity and climate change.

ECON BC 2411x Statistics for Economics

Elementary computational methods in statistics. Basic techniques in regression analysis of econometric models. One-hour weekly recitation sessions to complement lectures.

ECON BC 3018y Econometrics

Specification, estimation and evaluation of economic relationships using economic theory, data, and statistical inference; testable implications of economic theories; econometric analysis of topics such as consumption, investment, wages and unemployment, and financial markets.

ECON BC 3033x and y Intermediate Macroeconomic Theory

Systematic exposition of current macroeconomic theories of unemployment, inflation, and international financial adjustments.

ECON BC 3035x and y Intermediate Microeconomic Theory

Preferences and demand; production, cost, and supply; behavior of markets in partial equilibrium; resource allocation in general equilibrium; pricing of goods and services under alternative market structures; implications of individual decision-making for labor supply; income distribution, welfare, and public policy. Emphasis on problem solving.
Prerequisites: An introductory course in microeconomics (ECON BC1002, ECON BC1003, ECON W1105, or the equivalent) and one semester of calculus or ECON BC1007, or permission of the instructor.
4 points

ECON BC 3041x and y Theoretical Foundations of Political Economy

Intellectual origins of the main schools of thought in political economy. Study of the founding texts in classical political economy, Marxian economics, neoclassicism, and Keynesianism.

ECON BC 3011x Inequality and Poverty

Conceptualization and measurement of inequality and poverty, poverty traps and distributional dynamics, economics and politics of public policies, in both poor and rich countries.

ECON BC 3012y Economics of Education

Analyzes education policies and education markets from an economic perspective. Examines challenges that arise when researchers attempt to identify the causal effects of inputs. Other topics: (1) education as an investment, (2) public school finance, (3) teacher labor markets, (4) testing/accountability programs, (5) school choice programs, and (6) urban public school reforms.

ECON BC 3013y Economic History of the United States

Economic transformation of the United States from a small, open agrarian society in the late colonial era to the leading industrial economy of the 20th century. Emphasis is given to the quantitative, institutional, and spatial dimensions of economic growth, and the relationship between the changing structures of the economy and state.

ECON BC 3014y Entrepreneurship

Examines theoretical, empirical, and normative studies of entrepreneurial behavior and its significance. Examines their relationships with risk-taking and innovation. Explores entrepreneurship as applicable to a variety of behaviors, activities or contexts, including large organizations, small business networks, new venture creation, comparative financial institutions that support entrepreneurial environments, and entrepreneurship's contributions to a dynamic economy.

ECON BC 3017y Economics of Business Organization

Economics of firm organization and the evolution of the modern business enterprise. The function of organizations in coordinating the use of economic resources. The role of technology, labor, management, and markets in the formation of the business enterprise. Includes international comparisons and attention to alternative economic theories on the role of business organizations on national competitive advantage.

ECON BC 3019x Labor Economics

Factors affecting the allocation and remuneration of labor; population structure; unionization and monopsony; education and training, mobility and information; sex and race discrimination; unemployment; and public policy.

ECON V 3025x and y Financial Economics

Institutional nature and economic function of financial markets. Emphasis on both domestic and international markets (debt, stock, foreign exchange, Eurobond, Eurocurrency, futures, options, and other). Principles of security pricing and portfolio management; the Capital Asset Pricing Model and the Efficient Markets Hypothesis.

ECON BC 3029y Development Economics

Critical survey of the main debates within development studies: theory and empirics of growth and structural transformation; dynamics of income distribution and poverty; impact of international economic relations; population, health and nutrition; and the nature and role of government.

ECON BC 3038x International Money and Finance

Introduction to balance of payments and exchange rate theory; capital mobility and expectations; internal and external adjustment under fixed and flexible exchange rates; international financial markets; capital mobility and expectations; international policy coordination and optimum currency areas; history of the international monetary system.

ECON BC 3039y Environmental and Natural Resource Economics

Link between economic behavior and environmental quality: valuation of non-market benefits of pollution abatement; emissions standards; taxes; and transferable discharge permits. Specific problems of hazardous waste; the distribution of hazardous pollutants across different sub-groups of the U.S. population; the exploitation of commonly owned natural resources; and the links between the environment, income distribution, and economic development.

ECON BC 3045x Business Cycles

Theories and policy implications of business cycles. IS/LM, AS/AD and the Phillips Curve; dynamic general equilibrium models based on microfoundations including the Real Business Cycle model; New Keynesian models; models of the political business cycle. Particular episodes in the macroeconomic history of the US will provide case studies in which to study these models and the application of policies within.

ECON BC 3047y International Trade

Causes and consequences of international trade and investment. Theoretical models of trade. Trade policy including restrictions or regulations on international trade and the effects of such policies on economic welfare, economic growth and wage inequality. Multinationals, foreign direct investment, and some aspects of the current debate on "globalization."

ECON BC 3099x and y Independent Study

Topic(s), requirements, workload and point value to be determined in consultation with faculty advisor. Forms available at the Office of the Registrar.
Prerequisites: ECON BC3033 or ECON BC3035 or permission of the instructor.
1-3 points.

ECON V 3265x and y The Economics of Money and Banking

Introduction to the principles of money and banking. The intermediary institutions of the American economy and their historical developments, current issues in monetary and financial reform.

ECON BC 3270y Topics in Money and Finance

Classic questions in monetary economics, including but not limited to: inside and outside money, financial crisis and hyperinflation, central banking and the payments system, liquidity and market making, monetary policy and exchange rates.

ECON BC 3275y Financing Democracy: Problems and Proposals

Studies a selection of current social problems chosen in order to illuminate the current state of the ever uneasy relationship between finance and democracy. Problems covered may include, but are not limited to: Social Security reform, Medicare reform, corporate governance, financial reform.
Prerequisites: Limited to 25 students. ECON BC3033 and ECON BC3035. Not offered in 2009-2010.
3 points

ECON G 4235y Historical Foundations of Modern Economics: Adam Smith to J.M. Keynes

Survey of some of the major intellectual developments that have created the discipline of economics. Particular attention to the works of Adam Smith, David Ricardo, Karl Marx, Alfred Marshall, Knut Wicksell, Irving Fisher, and J.M. Keynes.

ECON BC 3061x-BC3062y Senior Thesis

Tutorials and conferences on the research for and writing of the senior thesis.
Prerequisites: Permission of the instructor and completion of all courses (except for the senior requirement) required for the economics track, political economy track, or economics and mathematics majors. Exceptions to these prerequisites may be granted by the chair of the department only.
4 points

ECON BC 3063x and y Senior Seminar

A topic in economic theory or policy of the instructor's choice. See department for current topics and for senior requirement preference forms.