The course concludes with the macroeconomic effects of central bank policies on the money supply, interest rates, and aggregate economic activity. A microeconomic analysis of how selected spending programs, taxes, and economic regulations affect the market allocation of resources and the distribution of income. The course extends the analysis introduced in ECON 301 by systematically relaxing the assumptions of the model of perfect competition. The course explores topics such as collusion, predatory behavior, mergers and acquisitions, product differentiation and advertising and anti-trust policy intended to make the market perform better. The study of the economics of renewable and exhaustible resources, environmental problems and policy responses.
Emphasis is on the balance of payments and the international monetary system.
Theories and experience of the accumulation and allocation of productive resources in high income countries. Courses offered occasionally to students in special areas of Economics not covered in the usual curriculum. See College Honors Program.