A systematic development for the theory for determining national income, employment, and the general level of prices and interest rates. Analysis of recent U.S. macroeconomic events is included. The course is offered each term. A study of the basic economic, social, and structural changes that have taken place in Europe since approximately 1750. Topics include industrialization and associated changes in technology, agriculture, population and labor force, trade, transport, financial markets and institutions and socio-economic structures.
Some attention is paid to the period prior to ca.
A study of the relationship between market structure, business conduct, and economic performance. Topics include the structure of the American industry, oligopolistic pricing theory, product differentiation, research and development, and mergers. 356 Natural Resource Economics K. Rask Study of the optimal allocation of scarce natural resources under conditions of market failure. This course is intended for students interested in applying microeconomic theory to public policy questions regarding natural resources. Topics include environmental quality, policy and regulation, public goods, open access resources, and non-renewable resources, i.e. energy.