Economic Ideas & Issues

ECN 203 - Economic Ideas & Issues

MySlice Info:

Term: Spring 2019
Class #: 33398
Section: M029
Credits: 3

Evensky, Jerry

Counts toward:
Dept Soc Sci

Course Time(s):
Honors Discussion M029: M 12:45 - 1:40; Lecture M028: MWF 10:35am-11:30am


Course Description:

The foundation of the course will be the mastery of basic economic principles as they are represented in today’s mainstream economic discourse. To this end, we will begin by modeling current microeconomic analysis of individuals’ choices, the ideal case for markets as mechanisms for coordinating those choices in an interdependent world – highlighting the amazing potential markets have for doing this coordination perfectly efficiently, the problems that can preclude markets from achieving this ideal case - market power and market failure, and the role of government in this system as a problem solver or a problem. With this microeconomic foundation in place we will model the aggregate, macro economy examining the factors that determine the potential of an economy and the sources of problems – unemployment/inflation – that interfere with achieving this macroeconomic potential. Again, we will examine the role of government (monetary, fiscal, and trade policy) as a problem solver or a problem. At every stage of this modern analysis we will connect that analysis to current real world examples so that the model has relevance to the world of today “outside of the classroom window.” As we explore the modern version of economic principles, we will look to that past for other ways of understanding and representing the economic system. Our guide in this endeavor and our point of departure for discussion will be The Worldly Philosophers by Robert Heilbroner. The Heilbroner book will be supplemented by selections from original historical sources.