Section 1: Austrian Economics
Prof. Djerdjian - MWF 10:40am-11:35am
This seminar investigates an alternative approach to economics, the Austrian School of Economics, which emphasizes methodological individualism and subjectivism. The Austrian School traces its roots back to the works of the Spanish Scholastics of the sixteenth century and stress the importance of the individual, private property, limited government and the organizing power of the free-market. Students will read from authors such as Menger, Mises, Hayek, Rothbard and Hoppe and evaluate various properties of a state-planned economy versus a decentralized free market economy.
Prerequisites: Economics 272 (or permission of the instructor) and Economics 250. May not be taken by any student who has taken or is planning on taking Economics 309.
Section 2: Personnel Economics
Prof. Moore - MW 4:05pm-5:30pm
All sections of Economics 495 have the goal of furthering students' analytical thinking, writing, team-work, and presentation skills. This particular section will develop these skills by applying economic analysis to decisions relating to the management of human resources inside the firm. This relatively new applied area of economics is referred to as "personnel economics", and it is a sub-field of labor economics. The following are some of the personnel issues we will investigate, among many others:
1) structuring compensation schemes to motivate workers
2) providing workers with human capital in the form of on-the-job training
3) recruiting, hiring and retaining employees
4) managing quits and dismissals
5) structuring fringe benefits (including stock options and pensions)
6) compensating workers in teams
In order to add realism to, and applications for, the analysis, we will use real world mini-cases as well as more formal Harvard Business School Case Studies. In addition to several shorter writing assignments, each student will analyze the compensation scheme of an actual firm of their choice.
Prerequisites: Economics 250 (Economics 272 is helpful). May not be taken by any student who has taken or is planning on taking Economics 326.
Section 3: Health Economics
Prof. Ngo - MW 4:05pm-5:30pm
This seminar provides an overview of health economics, covering the demographic and socio-economic determinants of health and the design and implementation of health care systems in both domestic and global contexts. Students will apply economic theory to model issues such as addictions and risky health behavior, optimal health provider incentives, and health insurance provision in the face of market failures and inconsistent preferences. Using this grounding, students will read state-of-the-art empirical research on recent policies such as the Oregon Medicaid Experiments, the Affordable Care Act, and pay-for-performance programs in developing countries.
Prerequisites: Economics 272 (may be taken concurrently) and Economics 250.
Section 4: Industrial Organization
Prof. Chiou - TR 10:05am-11:30am
This course covers topics in the field of industrial organization, which is the study of firms in markets. We will analyze the acquisition and use of market power, strategic interactions among firms, and the role of government competition policy. Our approach will blend two alternative but complementary methodologies: theoretical modeling of strategic firm behavior and industry equilibrium, and the factual detail found in case studies of specific industries. In addition, students will participate in a semester-long simulation designed to model real-world decision making and complex interactions among firms in an industry.
Prerequisites: Economics 272 (may be taken concurrently) and Economics 250. May not be taken by any student who has taken or is planning on taking Economics 302.
- Chair Office: Fowler 225
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- Phone: (323) 259-1304
- Fax: (323) 259-2704