Stern College Syllabi -- Spring and Fall 2021-2022 courses --- ECON (Economics)
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Item Restricted ECON 1221/FIN 2221: Money, Banking, and Financial Markets(Stern College for Women, Yeshiva University, 2022-09) Khan, JamesMonetary policy, both in the U.S. and around the world is frequently in the news as policymakers work hard to control inflation, bring about balanced growth and maintain the stability of the financial system. Money, Banking, and Financial Markets is a course that looks at the workings of the overall economy and how monetary and financial policies affect it.¶ Several broad questions are addressed over the course of the semester:¶ • What are the fundamental determinants of financial asset (stocks, bonds, etc.) values and market interest rates? • What do banks do, and what is their unique role in the financial system? • How is monetary policy conducted? How has this changed in recent years? • How does monetary policy affect the macro economy? • Why is banking and financial sector regulation important? • What gives rise to financial instability and crises, and what is the role of the central bank in confronting these problems?¶ We will begin the semester devoting considerable time to studying the financial system. This will include understanding the economic role of financial institutions, the nature of banking, the emergence of “shadow banking,” as well as the economics of interest rates and asset pricing.¶ Monetary policy and financial regulation are important policy tools because they pursue three essential goals: a) to keep an economy out of recession, b) to keep inflation under control and c) to preserve the stability and soundness of the financial system. Once we have learned about the private financial system, we will examine the structure of the central bank, the Federal Reserve in the U.S., and explains how policy makers try to attain these three goals. The role of money, interest rates and exchange rates are studied as well as the way in which monetary policy affects each. In addition, we will examine the regulation of the financial sector and efforts to maintain financial and economic stability. In the last part of the semester we will devote considerable attention to the financial crisis that developed in 2007-2008, the COVID-19 crisis in 2020, and other historic panics and crises.Item Restricted ECON1421E: Econometrics(Stern College for Women, Yeshiva University, 2022-01) Kim, Kun H.ECO 1421 introduces the basic econometric methods used for analyzing economic data, testing economic theories, and evaluating policies. The prerequisite for the course is introduc- tory calculus and statistics. We will also use basic college algebra, and you should know some introductory-level economics. We start with a review of probability and statistics. You can also read the early appendices (A, B, and C) in Wooldridge. The specific topics of the course include: basic probability & statistics, assumptions of the Gauss-Markov theorem, univariate and multivariate regressions, multivariate regression with dummy variables, statistical inference and testing, heteroskedasticity and panel data analysis. An important part of the course is using a statistics/econometrics package to analyze real data and interpret estimates. This course uses R. Therefore, you will need a way to regularly access R. Due to the ongoing Covid-19 situation, there could be occasional online lectures through Zoom. If that happens, an announcement will be made prior to the lectures.Item Restricted ECO1101: Microeconomics Theory(Stern College for Women, Yeshiva University, 2022-01) Shao, RanThis course aims at providing you a rigorous understanding of basic microeconomic theory, and the economic tools to analyze the decision making of consumers and firms as well as their interactions in markets. This should be hard and fun. This course consists of four parts. It begins with consumer theory, which is a theory of demand. Next, we explore the counterpart to the consumer’s problem—producer theory. Thirdly, we put the demand and supply together and determine the equilibrium. In the last part of the course, we study a variety of market structures, such as monopoly, perfect competition and oligopoly. Depending on the progress, advance topics will be disscussed.Item Restricted ECON1010: Principles of Economics(Stern College for Women, Yeshiva University, 2022-01) Hashimoto, TadashiThis course introduces basic concepts of micro- and macro-economics. Through this course, students learn micro- and macro-economic concepts that will make them capable of analyzing past, current, and future economic problems. Another purpose of this course is an invitation to more sophisticated economic analyses. While this course adheres to the level of a principles course, students will learn underlying ideas behind the elementary analyses provided in the textbook. This course consists of two parts. In the first half, we study principles of microeconomics. Students learn the standard framework of the supply-demand diagram and how to apply this framework to understand or evaluate real-economy events. Students also learn how consumers and producers make economic decisions and how these decisions are related to shape supply and demand curves. The latter half of this course covers principles of macroeconomics. We start with measurement of important macroeconomic variables, such as the gross domestic product (GDP), consumer price index (CPI), and unemployment rate. Students then learn how monetary and fiscal policies affect macroeconomic variables.Item Restricted ECON 1010 - D1 & E Principles of Economics(2021-01) Kahn, James A.This course is a basic one-semester introduction to economics, covering both microeconomics (how individuals and businesses make resource decisions, and the functioning of specific markets); and macroeconomics (the functioning and performance of the overall economy, as reflected in national income, employment, and inflation). By the end of the semester you will be able to: Understand fundamental economic concepts such as comparative advantage, opportunity cost, externalities Use the standard tools of economic analysis to understand the function of markets and effects of economic policies Understand the measurement of economic activity, interest rates, and inflation Understand the functioning of the financial and monetary systemItem Restricted ECON 1177 Game Theory & Behavioral Econonics(2020-01) Hashimoto, TadashiCourse Description This course introduces basic techniques of game theory and provides a wide range of economic and other social-scientific applications. Game theory—developed by economists, mathematicians, behavioral scientists, and other social, or mathematical scientists—is a mathematical tool to analyze interactions of economic agents with strategic motives. In other words, game theory involves decision problems involving multiple decision makers whose objectives may contradict each other. The abstract theory embraces various applications in economic, political, and even psychological decision makings. Due to its high generality and versatility, game theory and its applications now constitute a large part of the modern economic theory. In this course, students will understand the basic notions of game theory through learning economic and psychological applications such as commitment, “too big to fail,” piece-rate compensation, price discrimination, altruistic preference, time inconsistency, oligopoly, bargaining, long-term relationships, and signaling. ____ While the theory provides powerful implications on various problems, the usefulness of game theory is built upon strong assumptions that are sometimes questionable. Game-theoretic experiments have found several anomalies that deviate from theoretical predictions. Such anomalies are well-documented in the fields of behavioral and experimental economics, which is another major topic covered in this course. This course aims to train students to enable them to comfortably (and probably implicitly) apply game-theoretic ideas to various real-world problems. This course involves extensive problem-solving and discussion activities, as well as the term-paper research project. Students learn the concepts of game theory by mathematically solving game-theoretic problems and get familiarized with game-theoretic methods through discussions. As the capstone of the coursework, students finish their research projects and present their outcomes in front of their classmates at the end of this course.Item Restricted ECON-2531-L Health Economics(2021-01) Utzinger, RobertObjectives of the Course: Application of economic tools and concepts to the analysis of the US health care system and public health. Effects of health care on health, hospital behavior, health care workforce supply and demand for health care. Role of health insurance and demographic changes in health care systems. Emphasis on public health in the United States and its current situation. Comparison of the USA health care system with the health care system of other countries. ___ Why take a course in Health Economics The U.S. presidential election of 2008 was a watershed event in the health care reform debate. Keeping his promise, and taking advantage of Democratic majorities in both, the House and the Senate, President Barack Obama signed legislation on May 23, 2010, and the Patient Protection and Affordable Care Act became the law of the land. This event began a decade long process that was expected to transform health care delivery and financing, extending coverage to more than 32 million previously uninsured Americans and changing rules that govern how health insurance is delivered. The health care sector, now representing more than one-sixth of the U.S. economy in terms of economic activity, continues to change in unimaginable ways. Sweeping transformations in the organizational arrangements of health care providers, newly developed medical technologies, the creation of new health insurance products, and the development and evaluation of various public policy initiatives all make the health care sector a dynamic and exciting area for applying the lens and tools of economic analysis. Indeed, not a day goes by without the unfolding of a medical event that requires the insights of economics to unravel the depths of its implications. By taking a course in Health Economics, students would be able to: 1) Recognize the relevance of economics to health and medical care and to apply economic reasoning to better understand public health-related issues; 2) Understand the mechanisms of health care delivery in the United States within broad social, political, and economic contexts; 3) Explore the changing nature of health and medical care and its implications for medical practice, medical education and research, and health policy; 4) Analyze public policy in health and medical care from an economic perspective.Item Restricted ECON1201B: Macroeconomic Analysis - Fall 2021(2021-09) Kahn, James A.Economics 1201 is an intermediate-level course in macroeconomics, incorporating topics in international and monetary economics as well as the determinants of long-term growth. The objective of the course is to provide coherent framework for analyzing macroeconomic phenomena (such as business cycles) and government policies that affect the environment in which firms, consumers, governments, and financial markets and intermediaries all operate.Item Restricted ECON1010K: PRINCIPLES OF ECONOMICS - Fall 2021(2021-09) Bloise, GaetanoThe purpose of this course is to initiate students to the basic principles of economics and to provide them with an understanding of several economic phenomena in a modern society. The course is split between the study of microeconomics (the behavior of individuals and firms) and macroeconomics (the behavior of the aggregate economy as a whole). On the microeconomic side, it studies price formation in competitive markets, firms’ decisions about production and the impact of different market forms on profits and social welfare. On the macroeconomic side, it considers economic variables such as GDP, inflation, unemployment, and interest rates, to explain both the current state of the aggregate economy as well as movements and fluctuations in the economy.Item Restricted ECO1010 & CRN14285: Principles of Economics - Fall 2021(2021-09) Shao, Ran; 0000-0002-1736-9862In this course , we focus on the activities of individual decision makers as they go about the business of life. At the semester’s end you will have a better understanding of how markets work, how prices are d etermined, why shortages and surpluses occur, why profits are important and how government is involved in the economy.