This course develops the tools of modern microeconomic theory and notes their applications to matters of utility and demand; production functions and cost; pricing of output under perfect competition, monopoly oligopoly, etc.; pricing of productive services; intertemporal decision-making; the economics of uncertainty; efficiency, equity, general equilibrium; externality and public goods. A student may not receive credit for both Economics 54 and 58. Requisite: Economics 11 and Mathematics 11 or equivalent. Offered Fall 2008.
A seminar preparing senior economics majors to undertake independent research for their honors projects. Five or six topics of current interest will be studied. The course is designed to help you learn how to do original research in economics. It will help you develop an idea for your thesis, and begin the process of researching and refining that idea. During the semester, you will critique previous research, learn about research methods, and develop your own research proposal. You will be asked to engage in thoughtful and careful reading and discussion of your own and others’ research. By the end of the semester, you will have developed a thesis proposal that will clearly state the question you will address, survey the primary research done in this area, and outline your approach. Requisites: An average grade of 11.00 or higher in Economics 53, 54, and 55. Offered Fall 2008.
Health care poses many pressing public policy issues: Why do we spend so much on health care? Does it actually produce significantly better health? What is the appropriate role of government? Should the U.S. have a system of national health insurance? This course provides insight into these questions. We will start by assessing the important role of health care in the national economy (health care costs exceed 15% of the Gross Domestic Product of the United States) and by applying economic models to the production of health and health care. We will then study the structure of the health care market and the role of key institutions. Next, we will devote substantial time to the role of government, placing emphasis on the status of the uninsured population and on public provision of care to the disadvantaged. Finally, we will use this acquired knowledge to consider possibilities for national health care reform and to discuss the relative merits of current state reform efforts. Throughout this analysis, we will pay particular attention to the nature of health care markets, the anatomy of market failures, and the implications for current policy. Empirical results, current issues, and public policy will be discussed throughout the course. Requisite: Economics 11. Offered Spring 2009.
This is an upper-level seminar in social policy which examines a number of social programs in the United States, including Medicaid, the Earned Income Tax Credit, and Temporary Aid to Needy Families. The course will introduce you to the operation of these programs and will illustrate how economic and econometric tools can be used to evaluate them. A significant portion of the course will be devoted to careful reading and discussion of empirical research papers, including discussion of the relative merits of various empirical and econometric techniques. Students will be asked to participate actively in class discussion, to make oral presentations, to evaluate empirical data, and to write one or more papers on specific social programs. Throughout the course, we will also think broadly about the goals of social policy and the practical challenges policymakers face in designing effective policies. Requisite: Economics 55. Offered Spring 2009.
A study of the central problem of scarcity and of the ways in which the U.S. economic system allocates scarce resources among competing ends and apportions the goods produced among people. Each section is limited to 22 Amherst College students.
Public Finance examines the role that the government plays in the economy. We will discuss the role of government in the allocation of resources, including efficiency and equity arguments for government intervention, as well as economic theories of government decision making. Topics include welfare economics, the evaluation of public expenditures, and taxation. The course addresses many current public policy issues, including environmental policy, health policy, expenditure programs for the poor, social security, and tax reform. Requisite: Economics 11. Limited to 50 students. Omitted 2008-2009.
Department
of Economics
307 Converse Hall — Amherst College
— Amherst, MA
(413) 542.8517— jwreyes AT amherst.edu