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This section contains an overview of the college's history, the academic program, the campus and student body; information on admission, fees and financial aid; graduate programs; and a key for deciphering course listings. Select a section from the dropdown menu to start.


This catalog contains policies and program descriptions and should be used solely as an informational guide. The General Information section is accurate as of July. All announcements herein are subject to revision. Students are responsible for informing themselves of current policies and meeting all relevant requirements.

This section details instructors, requirements for the majors and minors, and course offerings for the year (the data is updated annually). The Search for Courses tab enables you to search for courses based on interests and criteria. This tab will enable you to identify if a course can count toward a major, minor, concentration or a certificate.

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Professors
Randall K. Bartlett, Ph.D.
Deborah Haas-Wilson, Ph.D.
Roger T. Kaufman, Ph.D. †1
Mahnaz Mahdavi, Ph.D.
James Daniel Miller, Ph.D., J.D. *2
Roisin Ellen O'Sullivan, Ph.D., Chair
Charles P. Staelin, Ph.D. †1
Elizabeth Savoca, Ph.D.
Andrew S. Zimbalist, Ph.D. †1, *2

Associate Professor
Susan Stratton Sayre, Ph.D.

Assistant Professors
Simon Halliday, Ph.D.
Maggie Liu, Ph.D. *2
Vis Taraz, Ph.D.
Mariyana Zapryanova, Ph.D. *1

Lecturers
Thomas L. Bernardin, Ph.D.
Samantha Elaine Sterba, Ph.D. Candidate
Jorge Vasquez, Ph.D.

The Major in Economics or Quantitative Economics

Advisers: Randall Bartlett, Deborah Haas-Wilson, Simon Halliday, Roger Kaufman, Maggie Liu, Mahnaz Mahdavi, James Miller, Roisin O’Sullivan, Elizabeth Savoca, Susan Stratton Sayre, Charles Staelin, Vis Taraz, Mariyana Zapryanova, and Andrew Zimbalist

Adviser for Study Abroad: Mahnaz Mahdavi

Basis for the major: 150 and 153.

Economics Track: The five courses in the core—150 and 153 or their equivalent, 220, 250 and 253—plus five other courses in economics including one seminar.  ECO 220 may be replaced in the core with either MTH 220 or MTH 291. In the case of MTH 220, the students will be required to take six rather than five economics courses beyond the core. Students who have already taken any of GOV 190, SOC 204, SDS/MTH 201, PSY 201 or MTH 220 may not receive college or major credit for 220. MTH 111 or its equivalent is a prerequisite for 250 and 253. 

Quanitative Economics Track: The six courses in the core—150 and 153 or their equivalent, 220, 240, 250 and 253—plus five other courses in economics, including two upper-level courses (254-299) and one seminar. ECO 220 may be replaced in the core with either MTH 220 or MTH 291. In the case of MTH 220, the students will be required to take six rather than five economics courses beyond the core. Students who have already taken any of GOV 190, SOC 204, SDS/MTH 201, PSY 201 or MTH 220 may not receive college or major credit for 220. MTH 111 or its equivalent is a prerequisite for 250 and 253. 

Students who pass the department's placement examination in microeconomics or macroeconomics, or who pass the AP examination in microeconomics or macroeconomics with a score of 4 or 5, or who have the appropriate grades in A-level or IB courses in economics, may count this as the equivalent of 150, 153 or both. Course credit toward the major will be granted as long as the overall number of economics credits recorded on the transcript is at least 36. Students with AP, A-level or IB credit are urged to take the placement exams to ensure correct placement.

With prior permission of the instructor, economics credit will be given for Public Policy, Environmental Science and Policy, and for Middle East Studies courses when taught by a member of the economics department. Economics credit will not be given for ACC 223.
 
The S/U grading option is not allowed for courses counting toward the economics major. An exception may be made in the case of 150 and 153.
 
Majors may spend their junior year abroad if they meet the college’s requirements. Only 4 semester course credits (and no more than 2 in any one semester) taken by a Smith student outside the five colleges may be counted toward the courses required for the major. This includes courses taken during study abroad or study away, and courses taken in summer school or during a leave of absence from the college. Any course taken for economics credit outside the Five Colleges should normally have prior approval by the major adviser or the department's adviser for study abroad. Economics courses and appropriate statistics courses taken by transfer students before their matriculation to Smith and approved by the department and the college will be counted toward the major as if they had been taken at Smith.

Majors may also participate in the Jean Picker Semester-in-Washington Program, administered by the Department of Government and described under the government major.

The Minor

Advisers: Same as for the major.

Requirements: Six courses in economics, consisting of 150, 153, 220, and three other courses in economics or 150, 153, a statistics course taken outside of the department, and four other courses in economics. Crediting procedures are the same as for the major.

Honors

Director: Elizabeth Savoca.

Please consult the director of honors and the departmental website at www.smith.edu/economics/honors.php for specific requirements and application procedures.

A. General Courses



ECO 125 Game Theory
An examination of how rational people cooperate and compete. Game theory explores situations in which everyone’s actions affect everyone else, and everyone knows this and takes it into account when determining their own actions. Business, military and dating strategies are examined. No economics prerequisite. Prerequisite: at least one semester of high school or college calculus. {S} Credits: 4
James Daniel Miller
Normally offered each academic year

ECO 127 The Magic of the Marketplace
An introduction to capitalism. Markets have made the average American richer than any medieval king. Take this course to find out why. Other topics covered include innovation, discrimination, prostitution, environmental economics, international trade, affirmative action, business competition, price gouging, illegal drugs, Internet piracy, baby auctions, inequality and IQ, the stock market, the minimum wage, an economic love story, the economics of government, and why Africa is poor. This course is less mathematical than Economics 150. Open only to junior and senior non-economics majors or minors. A student may not receive credit for both ECO 127 and ECO 150 (or its equivalent), nor for both ECO 127 and ECO 123. (E) {S} Credits: 4
Members of the department
Expected to be offered in the next 3 years

ECO 150 Introductory Microeconomics
How and how well do markets work? What should government do in a market economy? How do markets set prices, determine what is produced and decide who gets the goods? We consider important economic issues including preserving the environment, free trade, taxation, (de)regulation and poverty. {QS} {S} Credits: 4
Deborah Haas-Wilson, James Daniel Miller, Paul Kurtz Newlin, Susan Stratton Sayre, Jorge A. Vasquez
Normally offered both fall and spring semesters

ECO 153 Introductory Macroeconomics
An examination of current macroeconomic policy issues, including the short and long-run effects of budget deficits, the determinants of economic growth, causes and effects of inflation, and the effects of high trade deficits. The course focuses on what, if any, government (monetary and fiscal) policies should be pursued in order to achieve low inflation, full employment, high economic growth and rising real wages. {S} Credits: 4
Randall K. Bartlett, Mahnaz Mahdavi, Jorge A. Vasquez
Normally offered both fall and spring semesters

ECO 220 Introduction to Statistics and Econometrics
Summarizing, interpreting and analyzing empirical data. Attention to descriptive statistics and statistical inference. Topics include elementary sampling, probability, sampling distributions, estimation, hypothesis testing and regression. Assignments include use of statistical software and micro computers to analyze labor market and other economic data. Prerequisite: ECO 150 or ECO 153. Students are not given credit for both ECO 220 and any of the following courses: GOV 190, SOC 201, MTH 201, PSY 201 MTH 220. Course limited to 55 students. {M} {QS} {S} Credits: 5
Michael Robinson, Vis Taraz
Normally offered each academic year

B. Economic Theory



ECO 240 Econometrics
Applied regression analysis. The specification and estimation of economic models, hypothesis testing, statistical significance, interpretation of results, policy implications. Emphasis on practical applications and cross-section data analysis. Prerequisites: ECO 150, ECO 153, MTH 111 and either ECO 220, MTH 220 or MTH 291. {M} {S} Credits: 4
Mariyana Zapryanova
Normally offered each academic year

ECO 250 Intermediate Microeconomics
Focuses on the economic analysis of resource allocation in a market economy and on the economic impact of various government interventions, such as minimum wage laws, national health insurance and environmental regulations. Covers the theories of consumer choice and decision making by the firm. Examines the welfare implications of a market economy, and of federal and state policies which influence market choices. Prerequisites: ECO 150 and MTH 111 or its equivalent. Enrollment limited to 55 students. {S} Credits: 4
Deborah Haas-Wilson, Simon Halliday
Normally offered both fall and spring semesters

ECO 253 Intermediate Macroeconomics
Builds a cohesive theoretical framework within which to analyze the workings of the macroeconomy. Current issues relating to key macroeconomic variables such as output, inflation and unemployment are examined within this framework. The role of government policy, both in the short run and the long run, is also assessed. Prerequisites: ECO 153 and MTH 111 or its equivalent. Enrollment limited to 55 students. {S} Credits: 4
Roger T. Kaufman, Roisin Ellen O'Sullivan
Normally offered both fall and spring semesters

ECO 254 Behavioral Economics
An examination of the combination of economists’ models and psychologists’ understanding of human behavior. This combination fosters new understanding of consumers’ and firms’ decision-making. Topics include decisions motivated by issues of fairness or revenge (rather than self-interest); decisions based on the discounting of future happiness; decisions based on individuals’ incorrect beliefs about themselves (such as underestimating the power of bad habits or cravings). This new understanding has implications for economic, political, legal and ethical issues. Prerequisites: ECO 220 and ECO 250. (E) Credits: 4
Simon Halliday
Normally offered in alternate years

ECO 255 Mathematical Economics
Review of mathematical techniques required for a rigorous study of economics. Extensive instruction on applications of these techniques to economic problems will be provided. Emphasis will be put on static and dynamic optimization and comparative statics. Applications to microeconomics, macroeconomics, and financial economics will be discussed. The course pre-requisites are ECO 250, ECO 253, MTH 211, and MTH 212 or permission of the instructor. {M} {S} Credits: 4
Jorge A. Vasquez
Expected to be offered in the next 3 years

ECO 256 Topics in Applied Microeconomic Theory
This course prepares students to understand and construct mathematical models for applied microeconomic analysis. The course covers both mathematical techniques and their economic applications. Emphasis particularly on the use of constrained optimization and comparative statics to undertake positive and normative analysis of selected government policies. Prerequisites: MTH 111, 112, 211, 212 and ECO 250 or permission of instructor. {M} {S} Credits: 4
Members of the department
Expected to be offered in the next 3 years

ECO 258 Applied Market Design
In 2012, the Nobel Memorial Prize in Economics Sciences was awarded to Alvin Roth and Lloyd Shapley for their theoretical and practical work on the design of markets. This course provides an introduction to the field of market design, focusing on the functioning of specific markets and market mechanisms. Applications include but are not limited to: auctions, kidney exchange, medical match, school choice, course allocation, and trading on the stock market. In addition, we will study the market design aspects of new technologies that facilitate new types of marketplaces, such as cryptocurrencies and taxi-ride platforms. Prerequisite: ECO 250 or permission of the instructor. {S} Credits: 4
Jorge A. Vasquez
Expected to be offered in the next 3 years

ECO 271 The Economics of Climate Change
Climate change has been recognized as "the major, overriding environmental issue of our time, and the single greatest challenge facing environmental regulators” by the United Nations Secretary General. In this class we use the tools of economics to analyze and understand the many challenges of climate change. Topics covered include climate damages, market failure and externalities, emissions standards and taxes, cap and trade, discounting, risk and uncertainty, mitigation and integrated assessment models, adaptation, development, and gender. Prerequisites: ECO 220 and ECO 250. (E) {S} Credits: 4
Members of the department
Normally offered in alternate years

ECO 272 Law and Economics
An economic analysis of legal rules and cases. Topics include property law, contract law, accident law, criminal law, the Coase theorem and the economics of litigation. Prerequisite: ECO 250. {S} Credits: 4
Members of the department
Normally offered in alternate years

ECO 360 Economics of Crime
This course is designed with two central goals. First, use microeconomic and econometric tools to explore and understand crime and incarceration. Relevant topics include but are not limited to: Are criminals rational economic actors? What policies most efficiently mitigate the social costs associated with criminal activity? What role does incarceration play in deterrence incapacitation, and rehabilitation? Second, develop the key tools for economic work including analytical thinking and writing as well as research and presentation skills. {S} Credits: 4
Members of the department
Expected to be offered in the next 3 years

ECO 362 Seminar: Population Economics
Topics course.

The Economics of Aging
Many countries today face rapidly aging populations. The economic consequences will pose enormous challenges to policymakers. What are the implications of an aging population for the sustainability of pension funds and health care systems? for labor force growth and productivity growth? for savings and asset markets? for the demand for public and private goods? What policy options have economists offered to deal with these issues? In this seminar we study these questions and more from both microeconomic and macroeconomic perspectives. Prerequisites: ECO 250, ECO 253 and ECO 220. Enrollment limited to 15. {S} Credits: 4
Members of the department
Expected to be offered in the next 3 years

ECO 363 Seminar: Inequality
The causes and consequences of income and wealth inequality. Social class and social mobility in the U.S. The role of IQ and education. The distributional impact of technical change and globalization. Is there a “trade-off” between equality and economic growth? The benefits of competition and cooperation. Behavioral and experimental economics: selfishness, altruism and reciprocity. Fairness and the dogma of economic rationality. Does having more stuff make us happier? Prerequisites: ECO 220 and 250. {S} Credits: 4
Robert K. Buchele
Expected to be offered in the next 3 years

C. The American Economy



PPL 220 Public Policy Analysis
Analysis of the institutions and processes of public policy formation and implementation. Explores models designed to explain policy and also those whose purpose is to “improve” policy. Develops and uses analytical tools of formal policy analysis. Examines the debate over the possible and proper uses of these analytic tools. {S} Credits: 4
Members of the department
Normally offered in alternate years

ECO 224 Environmental Economics
The economic causes of environmental degradation and the role that markets can play in both causing and solving pollution and resource allocation problems. Topics include resource allocation and sustainability, cost-benefit analysis, pollution standards, taxes, and permits, public goods and common property resources. Prerequisite: ECO 150. {S} Credits: 4
Susan Stratton Sayre
Normally offered each academic year

ECO 230 Urban Economics
Economic analysis of the spatial structure of cities—why they are where they are and look like they do. How changes in technology and policy reshape cities over time. Selected urban problems and policies to address them include housing, transportation, concentrations of poverty, financing local government. Prerequisite: ECO 150. {S} Credits: 4
Randall K. Bartlett
Normally offered each academic year

ECO 234 Partisan Economic Issues
An analysis of selected microeconomic and macroeconomic issues about which our two political parties disagree. Specific issues include health care; Social Security and other entitlement programs; taxes, government spending and budget deficits; immigration; and the role of government in the economy. Prerequisites: ECO 150, ECO 153 and ECO 220 or its equivalent. Credits: 4
Members of the department
Normally offered in alternate years

PPL 250 Race and Public Policy in the United States
Explanation of current policy issues regarding race. Topics include voting rights, compensation, public and private education, bilingual education and affirmative action in employment. Recommended background: PPL 220 or a course in American government. {S} Credits: 4
Randall K. Bartlett
Normally offered in alternate years

ECO 260 Public Economics and Finance
Why does the government intervene in the economy? What are the responses of private agents to government’s actions? What are optimal government policies? This course focuses on the role of the government in the economy and uses tools of microeconomic analysis to study the taxing and the spending activities of the government. The course covers tax policy, inequality, social insurance programs, public goods, environmental protection, and education. Special emphasis is on current policy issues in the U.S., such as income inequality, poverty, healthcare reform, income tax reform, and crime.  Prerequisite: ECO 250. {S} Credits: 4
Mariyana Zapryanova
Normally offered in alternate years

ECO 263 Labor Economics
This course applies economic principles and elementary statistics to the study of labor markets. Topics include labor force participation, unemployment, immigration, wage determination, income distribution and labor market discrimination. Students examine the rationale for and consequences of many economic policies such as a statutory minimum wage, unemployment compensation, child care policies and public pension programs. The class investigates these issues through readings of recent economic research and by analyzing labor market data. Prerequisites: ECO 153, 220 and 250. Credits: 4
Members of the department
Expected to be offered in the next 3 years

ECO 265 Economics of Corporate Finance
An investigation of the economic foundations for investment, financing and related decisions in the business corporation. Basic concerns and responsibilities of the financial manager, and the methods of analysis employed by them are emphasized. This course offers a balanced discussion of practical as well as theoretical developments in the field of financial economics. Prerequisites: ECO 250, ECO 220 and MTH 111. {S} Credits: 4
Mahnaz Mahdavi
Normally offered each fall

ECO 275 Money and Banking
An investigation of the role of financial instruments and institutions in the economy. Major topics include the determination of interest rates, the characteristics of bonds and stocks, the structure and regulation of the banking industry, the functions of a modern central bank and the formulation and implementation of monetary policy. Prerequisite: ECO 253 or permission of the instructor. {S} Credits: 4
Samantha Elaine Sterba
Normally offered in alternate years

ECO 314 Seminar: Industrial Organization and Antitrust Policy
An examination of the latest theories and empirical evidence about the organization of firms and industries. Topics include mergers, advertising, strategic behaviors such as predatory pricing, vertical restrictions such as resale price maintenance or exclusive dealing, and antitrust laws and policies. Prerequisite: ECO 250. {S} Credits: 4
Deborah Haas-Wilson
Normally offered each academic year

ECO 324 Seminar
Topics course.

Economics of the Environment and Natural Resources
How do we expect competitive markets to allocate natural resources? Will market systems result in excess pollution? Can we improve market outcomes in relation to the environment and natural resources? If so, what are the relative strengths and weaknesses of different approaches? This course examines these issues through discussion of the economic theories of externalities, common property and public goods and their implications for the allocation of resources. We explore these questions by analyzing specific policy issues and debates related to the environment and resource use including: climate change, pollution, biodiversity, energy, sustainability, land use and fishing rights. Through this exploration, we touch upon a number of other theories and techniques including dynamic optimization and intertemporal choice, price vs. quantity regulation, nonmarket valuation, cost-benefit analysis and the use of incentive-based regulation. Prerequisites: ECO 250 and ECO 220 or permission of the instructor. {S} Credits: 4
Members of the department
Normally offered in alternate years

ECO 331 Seminar: The Economics of Sports
This seminar will explore economic principles behind the operation of the sports industry in the United States and internationally. Specific topics to be covered include: antitrust; athlete compensation; labor market behavior; competitive balance; team value and profitability; economic impact and financing of stadiums; economics of the Olympics and World Cup; and, economic issues in college sports. Prerequisites: ECO 250 and ECO 220. {S} Credits: 4
Members of the department
Normally offered each spring

ECO 341 Economics of Health Care
An examination of current economic and public policy issues in health care. Topics include markets for health insurance, physician services, and hospital services; public policies to enhance health care quality and access; the economics of the pharmaceutical industry; and alternatives for reforming the U.S. health care system. Prerequisites: ECO 250 and 220 or permission of the instructor.  {S} Credits: 4
Members of the department
Expected to be offered in the next 3 years

ECO 351 Seminar: The Economics of Higher Education
An exploration of several of the following topics in the economics of higher education: the economic returns to a college education; the additional economic returns to attending an elite college; the determinants of college admissions; the role of SAT scores in determining performance in college; the construction and effects of the U.S. News rankings of colleges; peer effects in colleges; and the current (and future) crisis in funding higher education. The course emphasizes empirically testing economic hypotheses using several databases. Prerequisites: ECO 250 and ECO 220. {S} Credits: 4
Members of the department
Expected to be offered in the next 3 years

ECO 364 Seminar: The Economics of Future Technology
Brain implants, embryo selection, self-driving cars, nanotechnology, robot nurses, virtual teachers, cognitive enhancing drugs and artificial general intelligences are among the technologies that might have a large impact on our economy over the next few decades. This seminar uses the tools of microeconomics to explore the potential effects of these and other possible technologies and to explain how economic incentives shape the types of technologies businesses develop. Prerequisite: ECO 250. {S} Credits: 4
James Daniel Miller
Expected to be offered in the next 3 years

D. International and Comparative Economics



ECO 211 Economic Development
An overview of economic development theory and practice since the 1950s. Why have global economic inequalities widened? What economic policies have been implemented in the developing countries of Asia, Latin America, Africa and the Middle East in search of economic development, what theories underlie these policies, and what have been the consequences for economic welfare in these regions? Topics include trade policy (protectionism versus free trade), financial policy, industrial development strategies, formal and informal sector employment, women in development, international financial issues (lending, balance of payments deficits, the debt and financial crises), structural adjustment policies and the increasing globalization of production and finance. Prerequisites: ECO 150 and ECO 153. {S} Credits: 4
Simon Halliday
Normally offered each academic year

ECO 219 The Chinese Economy
This course offers an analysis of the recent development of the Chinese economy, its rapid transformation in the post-Mao period, and the implications of this transformation for the welfare of Chinese households. Topics to be discussed include economic reform, trade liberalization, demography, inequality, health and environmental challenges. Fundamental topics in principles of economics will be covered in an intuitive way through topics pertaining to China. Course performance will be assessed through participation, in-class quizzes, literature critiques, and a final paper plus presentation. Prerequisite: ECO 150 and ECO 153. {S} Credits: 4
Members of the department
Normally offered each academic year

ECO 226 Economics of European Integration
Why would countries give up their own currencies to adopt a common new one? Why can citizens of Belgium simply move to France without any special formalities? This course investigates such questions by analyzing the ongoing integration of European countries from an economic perspective. While the major focus is on the economics of integration, account is taken of the historical, political and cultural context in which this process occurred. Major topics include the origins, institutions and policies of the European Union, the integration of markets for labor, capital and goods and monetary integration. Prerequisites: ECO 150 and 153. Enrollment limit of 36. {S} Credits: 4
Members of the department
Normally offered in alternate years

ECO 295 International Trade and Commercial Policy
An examination of the trading relationships among countries and of the flows of factors of production throughout the world economy. Beginning with the theories of international trade, this course moves on to examine various policy issues in the international economy, including commercial policy, protectionism and the distribution of the gains from trade, multilateral trade negotiations, preferential trade agreements, the impact of transnational firms and globalization, immigration, and trade and economic development. Prerequisite: ECO 250. {S} Credits: 4
Members of the department
Normally offered each academic year

ECO 296 International Finance
An examination of international monetary theory and institutions and their relevance to national and international economic policy. Topics include mechanisms of adjustment in the balance of payments; macroeconomic and exchange-rate policy for internal and external balance; international movements of capital; and the history of the international monetary system: its past crises and current prospects; issues of currency union and optimal currency area; and emerging markets. Prerequisite: ECO 253. {S} Credits: 4
Mahnaz Mahdavi
Normally offered each spring

ECO 311 Seminar: Topics in Economic Development
Topics course.

The Political Economy of Development in Africa
Since postcolonial times, Africa has seen both hope and despair for its development. This seminar explores the roles of many factors in the development of African states and the uplifting from poverty of individual Africans. In particular, we look at infrastructure and investment; health and education; trade; finance and markets; the choice of policy; and the effects of institutions, governance and politics. We also try to make sense of the differences and the similarities among the various paths to development in Africa. Prerequisites: ECO 250 and ECO 253; Recommended: ECO 211 or ECO 213. {S} Credits: 4
Members of the department
Normally offered in alternate years

The Economic Development of India
This seminar applies and extends microeconomic theory to analyze selected topics related to the India’s economic development. Throughout the course an emphasis is placed on empirically testing economic hypotheses using data from India. In particular, the following topics are explored, with reference to India’s growth and development: education, health, demographics, caste and gender, institutions, credit, insurance, infrastructure, water and climate change. Topics and assignments may be changed in response to the class’s particular interests. {S} Credits: 4
Members of the department
Normally offered in alternate years

ECO 319 Seminar: Economics of Migration
Who migrates? Why do they move? Where do they leave from and move to? What are the economic impacts? This course offers an overview of historical and current migration patterns, and examines the main theories and empirics behind the economics of migration -- its causes and consequences. The course concludes with a discussion of the policy implications, drawing examples from internal migration reform in China and current immigration policy debates in the U.S. Prerequisite: ECO 250, 253 and 220. {M} {S} Credits: 4
Members of the department
Expected to be offered in the next 3 years

ECO 375 Seminar: The Theory and Practice of Central Banking
What role do central banks play in the management of short-run economic fluctuations? What has driven the recent global trend towards more powerful and independent central-banking institutions? This course explores the theoretical foundations that link central bank policy to real economic activity. Building on this theoretical background, the monetary policy frameworks and operating procedures of key central banks are then examined. Much of the analysis focuses on the current practices of the U.S. Federal Reserve and the European Central Bank, with a view to identifying the relative strengths and weaknesses of the two institutions. Prerequisite: ECO 220, ECO 253 and a course in either international finance or money and banking such as ECO 275 or ECO 296. {S} Credits: 4
Roisin Ellen O'Sullivan
Normally offered in alternate years

ECO 395 Seminar: Topics in International Trade
The globalization of the world economy has contributed to both boom and crisis. This seminar explores selected topics relating to the increased openness of national borders to the flow of goods and services, labor and real capital. For 2017, the seminar will pay special attention to the impact of globalization on income inequality and national identity. In particular, we will examine whether international trade, immigration and emigration play a significant role in the growth of income inequality, both within and among nations, over the past several decades and, if they do, what, if anything, might be done to attenuate or reverse these trends? Prerequisites: ECO 250, and one 200-level course in international economics or the equivalent.  {S} Credits: 4
Members of the department
Expected to be offered in the next 3 years

ECO 396 Seminar: International Financial Markets
This seminar focuses on four aspects of international financial markets: (1) International Portfolio Diversification with an emphasis on the role of the emerging economies; (2) Global Financial Crises and their impact on the economy; (3) Global Economic Imbalances provides an analysis of comparison of saver economies such as China, Germany and Japan with that of the borrowing economies such as the United States; (4) The Foreign Exchange Market focuses on currency crises and international disputes about China’s exchange rate policy. In studying each topic, both theoretical frameworks and empirical analyses are considered. Prerequisites: ECO 265 and ECO 296; Recommended: ECO 240. {S} Credits: 4
Members of the department
Expected to be offered in the next 3 years

E. Special Studies

Admission to Special Studies is by permission of the department, normally for majors who have had at least four semester courses in economics above the introductory level. Students contemplating a Special Studies should read the guidelines for Special Studies on the department’s Web page at www.smith.edu/economics.



ECO 400 Special Studies 
Admission to special studies is by permission of the department. (E) S/U only.  Credits: 1
Normally offered each academic year

ECO 404 Special Studies
Admission to special studies is by permission of the department, normally for majors who have had four semester courses in economics above the introductory level.  Credits: 4
Normally offered each academic year

ECO 408D Special Studies
Admission by permission of the department, normally for majors and minors who have had four semester courses in economics above the introductory level. This is a full-year course. Credits: 8
Normally offered each academic year

F. Honors

Please consult the director of honors and the departmental website for specific requirements and application procedures at www.smith.edu/economics/honors.php.



ECO 430 Honors Project
Honors project Credits: 4
Members of the department
Normally offered each academic year

ECO 430D Honors Project
Credits: 8
Members of the department
Normally offered each academic year

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Course listings in this catalog indicate in curly brackets which area(s) of knowledge a given course covers. Please note that certain courses do not indicate any designation as decided by the department, program or instructor involved. Students who wish to become eligible for Latin Honors at graduation must elect at least one course (normally four credits) in each of the seven major fields of knowledge. (If a course is less than four credits but designated for Latin Honors, this will be indicated.)

The search will return courses with any one of the selected distributional groups. For example, if you select distributional groups Literature and Mathematics, you will select courses in Literature or courses in Mathematics or courses in Literature and Mathematics.

Writing Intensive available
Certain courses in Smith College place special emphasis on writing in one or more sections. These courses have the designation "Writing Intensive". Each first-year student is required, during her first or second semester at Smith, to complete at least one writing-intensive course.

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The Course Catalog Search Results displays the course section listing selected from the search criteria. Click on a course title for full information and description. Click on a department to view complete departmental listings.


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