The field of economics encompasses several subfields. Microeconomic theory builds mathematical models to analyze economic phenomena. Econometrics builds statistical tools to analyze economic data. Applied Microeconomics applies theory and econometrics to economic questions. Macroeconomic studies the aggregate economy. Finance studies capital markets and related subjects. The courses and faculty in each area are listed below. Within a few of these subfields, we also offer Race, Power, and Privilege (RPP) courses. These courses examine issues of structural inequality, racial formations and/or disparities and systems of power within a complex, pluralistic world.
Department of Economics
Areas of Study
Applied Microeconomics
Studies economic decision making from a data-driven perspective. Fields include labor economics, urban economics, and development economics. Representative courses include Public Economics (ECON1480) and The Economics of Social Policy (ECON1430).
Microeconomic Theory
Studies the behavior of individual households and firms making decisions regarding the allocation of limited or scarce resources. Representative courses include Theory of Market Design (ECON1490) and Bargaining Theory (ECON1470).
Macroeconomics
The study of the aggregate dynamics of the economy. Macroeconomic theories consider the phenomena of output and income, interest rates, exchange rates, unemployment, and inflation as well as how monetary and fiscal policy tools can achieve certain policy objectives. Representative courses include Advanced Macroeconomics (ECON1225) and International Finance (ECON1550).
Econometrics/Research Methods
Econometrics is a set of statistical tools that allows economists to test hypotheses using real world data. Representative courses include Applied Research Methods (ECON1629) and Mathematical Econometrics I (ECON1630).
Finance
A set of courses that both use and teach economic theory and other quantitative methods in the study of financial institutions and financial markets. They include many of the traditional pragmatic classes offered in an undergraduate business curriculum. Representative courses include Investments (ECON1710) and Corporate Finance (ECON1720).