Economics

The Department of Economics offers courses related to global economy and development. Coursework addresses key issues such as sustainability, civic responsibility, and comparative analysis. 

3 semester credits. While traditional courses on comparative economics focus on capitalist, socialist, and developing economies, this course will focus on three models: the Anglo-Saxon (Britain and the United States), European (continental) and Asian (China, India and Japan) markets. While all of these models are market economies, they differ greatly due to diverse economic, historical, cultural, and political factors. Topics will also focus on the shifting roles of world players as older economies face the tiger economies of Asia. A strong knowledge of currently international affairs is highly recommended. Prerequisites: Micro and Macroeconomics.

3 semester credits. The course presents an overview of the economic aspects of art and culture. The international art market will be analyzed from the economist's point of view of the supply and demand of rare commodities. Other topics include economic models of non-profit cultural organizations, competition and market structure in the arts, public support for the arts, and the role and impact of public and private subsidies. Emphasis will be placed on Europe, with special focus on Italy. Additional international markets will be referred to for comparative purposes. Prerequisites: Introductory Economics course or equivalent highly recommended.

3 semester credits. This course is designed as an introduction to the study of economics. Students develop an understanding of economic institutions, history, and principles. Topics include basic tools of microeconomics and macroeconomics. Microeconomics deals with consumers, firms, markets, and income distribution. Macroeconomics deals with national income, employment, inflation, and money. Models that determine long-term growth and short-term fluctuations in national economies will be explored. Additional discussion will focus on the role of government regulation, monetary policy, and fiscal policy. Also, students will analyze major economic institutions, such as property rights, markets, business organizations, labor unions, money and banking, trade, and taxation.

3 semester credits. The course on the history of global economy is divided into two sections. The first will provide an overview of the evolution of global economy over the last five centuries. Topics will discuss the emergence of the New World Economy and will examine the integration of product, labor, and capital markets. The second part of the course will employ micro and macroeconomic analysis tools to examine the catalysts and obstacles of market integration, and the impact of globalization on the economy and welfare of nations. Other topics include the role of international institutions such as the IMF and the WTO, the impact of changing economic environments on competitive strategy, the emerging trade blocs (European Union, NAFTA), the fluctuation of exchange rates, and the emergence of new markets. Prerequisites: Microeconomics and Macroeconomics, or equivalent.

3 semester credits. The course dives into the world of maritime commerce. Students explore how harbors have served as catalysts for cultural exchange and economic prosperity throughout history, from the rise of ancient port cities to the hubs of today’s globalized world. The course examines the impact of the spice trade, the Industrial Revolution, and containerization on global trade patterns. Students will analyze the challenges and opportunities presented by free trade agreements, environmental sustainability, international law, and emerging technologies like automation and e-commerce. Through lectures, discussions, case studies, and in-class activities, students will gain a comprehensive understanding of the complex forces shaping international trade and the vital role of harbors in our interconnected world.

3 semester credits. This course offers a comprehensive exploration of international trade, examining its theoretical foundations, practical applications, and the ongoing debates that shape global commerce. Students will assess how factors like market size, production capabilities, and geographical distance influence trade flows, to they will focus on the evolving composition of traded goods and services. Students will also examine trade policy instruments, such as tariffs and quotas, and their impact on economies. The course critically analyzes the political economy of trade, understanding the competing interests that influence policy decisions. Classes going beyond traditional trade, as they seek to evaluate contemporary issues like the rise of intra-industry trade, the increasing role of multinational enterprises (MNEs), and the ongoing debates surrounding free trade and protectionism.

3 semester credits. The course presents an analysis of contemporary economic institutions and the application of macroeconomic theories to current economic problems. Emphasis will be placed on European Union countries (with comparative reference to North America and other international countries). The course will provide a broad yet detailed overview of economic theories for determining national income, governmental monetary and fiscal policy, the role of money and the banking system, international trade, and the determination of foreign exchange rates.

3 semester credits. This course investigates the economic forces behind pricing and production decisions, wages, labor market structure, and distribution of income. Emphasis will be given to the contemporary economic institutions of EU countries (in comparison with those of North America and other international countries) and the application of microeconomic theories to current economic problems.