Jonathan Lhost

This course will be a mixture of both Micro and Macro Economics.  Students who wish to be an Economics major MAY NOT use this course toward the major and should take ECO 304K and ECO 304L.

• Students will learn how economists describe and measure the economy, in the aggregate, as well as specific markets such as the labor market, the housing market, financial markets, and international trade.  Concepts for measurement and data will be covered.
• Students will learn how economists organize their analysis of economic choices by thinking about how individuals (i) respond to incentives, (ii) seek out exchange in markets, and (iii) form, and participate in, various economic institutions.
• Students will learn how to think about strategic behavior (for example, markets with a small number of firms, or negotiating trade agreements among a small number of countries).
• Students will learn about “externalities” and “public goods,” which, by conferring costs or benefits that are not appropriated by individuals or that are “non-rival” in nature (for example, once discovered, a technology can be used by many at the same time), provide reasons for government regulation, taxation, and government-provided goods and services.

This course will be a mixture of both Micro and Macro Economics.  Students who wish to be an Economics major MAY NOT use this course toward the major and should take ECO 304K and ECO 304L.

• Students will learn how economists describe and measure the economy, in the aggregate, as well as specific markets such as the labor market, the housing market, financial markets, and international trade.  Concepts for measurement and data will be covered.
• Students will learn how economists organize their analysis of economic choices by thinking about how individuals (i) respond to incentives, (ii) seek out exchange in markets, and (iii) form, and participate in, various economic institutions.
• Students will learn how to think about strategic behavior (for example, markets with a small number of firms, or negotiating trade agreements among a small number of countries).
• Students will learn about “externalities” and “public goods,” which, by conferring costs or benefits that are not appropriated by individuals or that are “non-rival” in nature (for example, once discovered, a technology can be used by many at the same time), provide reasons for government regulation, taxation, and government-provided goods and services.