Historical development of the theoretical basis and description of the institutional organization of each system. Nature of the Federal Reserve and the banking system and their roles in stabilizing the levels of employment and prices. The international financial and payments system. Examines the rationale for and effects of various government policies toward business. Analyzes the economic consequences of market power.
Emphasis is placed on antitrust policy as a response to market power.
A course studying the general economic environment within which governments and international businesses interact. Discusses exchange rates and trade balances, the economic reasons for trade, gains and losses to various groups resulting from trade, and government policies affecting the global economy. An economic perspective on labor market issues. Explores recent controversial topics such as inequality in earnings, race and sex discrimination in labor markets, immigration, minimum wage laws and labor unions, health and safety regulation in the work place. Fall of alternate years.