Spring 2016-17, ECONOMICS 2

Economics 2 provides an introduction to both microeconomics, the study of consumer and firm behavior, markets, international trade, and market failures; and macroeconomics, the study of economic growth, unemployment, and inflation. Students learn both economic theory and some of the empirical evidence behind the theory. Special emphasis is placed on the application of economic tools to contemporary economic problems and policies. Economics 2 satisfies all of the same requirements as Economics 1, and either can serve as a prerequisite for any upper-level course that requires introductory economics. Economics 2 differs from Economics 1 in that it has three hours of lecture and one hour of discussion section per week, instead of two hours of lecture and two hours of section. Some of the extra lecture time is used to reinforce concepts with additional examples and explanation (much as one would do in section), and some is used to cover additional topics and go into more depth. Economics 2 is recommended for students planning to major in economics, and for anyone who would like a more comprehensive introductory course.

Class meetings will be highly interactive, with many opportunities for both asking and answering questions. We are both particularly interested in economic policy, so the course will include much discussion of issues like inequality, climate change, health care, and recessions. And, because economics in inherently an empirical subject, as much as possible we will try to convey not just the theory of how the economy works, but also the evidence supporting (or contradicting) the theory.

We have a firm no-electronics policy (no phones, no laptops, no tablets). We want students to be fully engaged with the material and participating actively while in class. We will post the (incomplete) slides before class, so that you can print them off and take notes that way.