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Winter 2002
This information effective for Winter 2002.
Check with instructor the first day of class for any changes.
Winter 2002
Instructor: Professor Lori Kletzer
MWF 11:00–12:10 p.m.
Media Theater M110
This is an introductory course in microeconomics. The course has two principal goals: to introduce you to the ways in which economists view the world and attempt to solve economic problems, and to teach you to utilize these ways of thinking when you approach economic questions. We will focus on some basic concepts which most economists find useful in analyzing economic issues and we will apply these concepts to a variety of problems. The central theme of the course is how and why markets work, why they may fail to work, and the implications for social policies of both their successes and failures. Among the markets to be examined are the market for labor that largely determines who is poor and who is affluent, the markets for goods, and the markets for clean air and water.
Course Materials
The textbook for the course is Principles of Microeconomics by N. Gregory Mankiw. The text is sold with an accompanying study guide.
Both books are available at the Bay Tree Bookstore and at Slug Books Co-op. Slug Books is a student/alumni-run co-op discount textbook store, and it is located at 224 Cardiff Place, by 7-11 and Bay Federal Credit Union, two blocks from the base of campus. For more information, contact Slug Books at 469-SLUG, info@slugbooks.com, or http://www.slugbooks.com.
Course Requirements
In addition to reading the textbook, I expect you to read a daily newspaper on a regular basis. Whenever possible, class material will incorporate the latest U.S. and international events.
The class meets three times each week for lectures and once each week for a small discussion section lead by a teaching assistant (TA). Everyone must be signed up for one of the conference sessions. TA sessions are an important part of the course. While the large size of the lecture sessions makes it difficult to have discussions, sections are small and offer the opportunity to explore lecture topics in a more informal and individual setting.
There will be regular problem sets, and these will be returned and discussed
in your discussion sections. Late problem sets will not be accepted without
the permission of your TA. The graded midterm exams will be distributed and
reviewed in the conference sections. Your performance in the discussion sections
will be evaluated by your TA on the basis of problem sets and class discussion.
Grades will be determined as follows:
Problem sets 20%
2 midterm exams 40%
Final exam 40%
The first midterm exam will be given in class on Monday, February 1. The second midterm exam will be given in class on Monday, March 1. The final exam is scheduled for Monday, March 15, 4-7pm.
Office hours
My office hours will be on Mondays from 1-2pm and Thursdays, 10-12noon or by appointment. My office is in 204 Social Sciences I, my telephone is 459-3596, and my email address is lkletzer@cats.
Your TA will schedule weekly office hours that you should use to discuss problem sets and review the week’s work.
Economics 1 Online
Information about this class is available online. I have created a course home page, where you can find the course syllabus, problem sets, sample exams, and answer keys. You will also find links to data sources and other points of interest. The address is:
http://wwwcatsic.ucsc.edu/~econ1
If you are feeling shaky about your basic computer skills, there is a self-paced online computer literacy course that you can try at any of the CATS Instructional Computing Labs. You will find the course at:
http://nettrail.ucsc.edu/nettrail/master
Other important points
Learning and teaching in a large-lecture format requires your cooperation. I consider late arrivals, early departures, reading the newspaper, and talking to be rude and disruptive to the class. Please be considerate of your fellow students and of me. If you think you need to leave early or arrive late routinely, please consult your TA.
You are expected to adhere to standards of academic integrity. You should familiarize yourself with these standards by reading The Navigator. Violations of academic integrity standards will be dealt with in accordance with University policy.
Problem sets are an important part of the course and I strongly encourage you to complete them and turn them in on time. You may find working in groups to be helpful and even enjoyable. If you do some of the preliminary work in groups, be sure that you know how to solve for or think through the answer; don’t rely too heavily on getting the answer from someone else (after all, exams are closed-book, closed-note, individual efforts). You must write up the answers on your own.
Course Outline
I encourage you to complete the assigned readings before the class for which they are assigned. I suggest you read the material again after lecture.
Introduction and Overview
January 4—Chapters 1 & 2, including the appendix to Chapter 2
The Gains from Trade
January 6—Chapter 3
Introduction to Demand and Supply
January 8, 11—Chapter 4
Elasticity
January 13, 15—Chapter 5
Supply and Demand: Government Policies
January 20—Chapter 6
Consumer and Producer Surplus and Market Efficiency
January 22, 25—Chapter 7
Taxation
January 27, 29—Chapter 8
First Midterm Exam—February 1
Costs of Production
February 3, 5—Chapter 13
Competitive Markets
February 8, 10—Chapter 14
Monopoly
February 12—Chapter 15
Oligopoly and Monopolistic Competition
February 16, 17—Chapters 16 and 17
Factors of Production: The Labor Market
February 19, 22—Chapter 18
Labor Market Earnings and Discrimination
February 24—Chapter 19
The Distribution of Income
February 26—Chapter 20
Second Midterm Exam—March 1
Externalities
March 3, 5—Chapter 10
Public Goods and Common Resources
March 8—Chapter 11
International Trade
March 10, 12—Chapter 9 (and review of chapter 3)
Winter 2002
Instructor: David E. Kaun
MW 5:00–6:45 p.m.
Porter 148
While this class has historically focused on the essential aspects of capitalism in theory and as practiced (for better and for worse) in the United States, this quarter the issue of Globalization, and the impact of “Americanization around the world” will receive significant attention, particularly in the works of John Gray.
REQUIRED TEXTS (all available at Bay Tree Bookstore)
Gray, John Two Faces of Liberalism
Gray, John False Dawn
Hirschman, A The Rhetoric of Reaction
journal articles ECON 80/189 READER
AND ONE OF THE FOLLOWING:
Hayek, F.A. The Road to Serfdom
Hirschman, A. The Passions and the Interests (for 80A only)
Kaun, David Evan RU$$IA; a novel (available from author)
Olson, M. The Rise and Decline of Nations
CLASS MEETINGS All articles below are in class reader
3 Introduction/ Classical Economics
3 articles by Himmelfarb, and Smith
3 Basic Marx—The Labor Process—The Accumulation Process
3 articles by Buchholz and Cassidy
3 Keynsian Economics, articles by Buchholz, Keynes, and Kaun
1 discussion of Hirschman’s The Passions and the Interests, and
review.
1+ Classical Economics, Post WW II, Hayek, The Road to Serfdom and articles by Roche and Cimmiyotti
1+ Marx Today, O’Connor, “Fiscal Crisis of the State,” intro in reader
3 The Liberal Perspective (I) article by Lindblom
3 The L P (II) article by Hirschman,
“Rival Views of Market Society”
3 The L P (III) articles by Polanyi
and Kaun
1 Adam Smith in the 1990s, Olson, The Rise and Decline of Nations
1 Conservatives and Liberals, Hirschman, The Rhetoric of Reaction; articles by Hirschman, Falkenberg, and Kaun
2 Two-faced Liberals and Globalization
NOTE: Lecture notes, information regarding exams, and other hot topics will be available on the class web-site, at http://econ.ucsc.edu/faculty/nuclear, which you should check periodically. Contact via e-mail at nuclear@cats.ucsc.edu
WRITTEN WORK
Midterm exams Econ 80A—three short in-class exams will cover
the basic theoretical concepts in the works of Smith, Marx, and Keynes, as provided
in the readings and lecture. Econ 189 students will have the same quiz
plus take-home questions which will be due the following class period. These
quizzes will be given at the start of class (following completion of each theorist.)
Analytic Review Econ 80A—one critical review (3–5 pages)
dealing with any one (or two in comparison if you wish) book assigned above.
Analytic Review Econ 189—same as above except paper should
be approximately 5–8 pages, and deal with at least two authors.
[NOTE: BOOKS MAY COME FROM BEYOND THE BOOKS DISCUSSED DURING THE SECOND HALF OF THE COURSE: A SHORT LIST OF ADDITIONAL POSSIBILITIES IS INCLUDED BELOW—THESE BOOKS ARE ON RESERVE (presently 2 hour reserve, which can be extended if you intend to use one for your paper)]. These reviews are due no later than the SECOND TO LAST CLASS MEETING
PLEASE NOTE: THE QUALITY OF WRITING IS IMPORTANT: SO MUCH SO THAT REASONABLE QUALITY WRITING IS A NECESSARY CONDITION TO PASSING THE CLASS. To that end, you will be asked to write a short (2 page) essay discussion on the article by Orwell, “Politics and the English Language,” which is in the class reader. This paper is due no later than the third class meeting, and will give you an indication of writing expectations for the class.
[regarding the final exam: note, the following may be changed]
Final exam—OPTION ONE: Take-home essay exam. Study questions will
be available well before the end of the quarter. A subset of these questions
will be given immediately following the last class meeting, Thursday, May 31;
answers will be due in my office no later than 5:00 p.m., Monday, June 5).
“Final exam”—OPTION TWO: Do clearly satisfactory work
on the three first half quizzes; and maintain “perfect” attendance
for the second half of the quarter (no more than one absence).
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ADDITIONAL READING POSSIBILITIES FOR ECON 189
(book listed below are on reserve at McHenry)
Marxist
James O’Connor The Fiscal Crisis of the State
Moderate Liberal
Paul Krugman The Age of Diminished Expectations
Paul Krugman Peddling Prosperity
Robert Eisner The Misunderstood Economy
More Liberal
Robert Kutter Everything for Sale
Charles Lindblom Politics and Markets
Polyani, Karl The Great Transformation
Wilkinson, Richard Unhealthy Societies
Conservative
Charles Murray In Pursuit of Happiness and Good Government
Charles Murray Losing Ground
Thomas Sowell A Conflict of Visions
Milton Friedman Capitalism and Freedom
Libertarian
Kelley, David A Life of One’s Own
The Perfect Complement to RU$$IA
Orwell, George Animal Farm
Winter 2002
Instructor: Donald Wittman, Professor of Economics
MWF 11:00–12:10 p.m.
Nat Sci Annex 102
In this course, economic concepts are translated into a system of mathematical equations that are solved by the computer. If you liked solving word problems (in contrast to doing calculations) in your math classes, you will like this course. If you have had a hard time with word problems, this course will probably not be for you.
Winter 2002
Instructor: Professor Grieson
Phone: 459-2968
Office: Soc Sci 1 237
E-mail: grieson@cats.ucsc.edu
TTH 6:00–7:45 p.m.
Soc Sci 1 161
W. K. Viscusi, et.al Economics of Regulations and Antitrust, 1992. D.C. Health & Co., required. V. et.al.
Readings:
J.E. Kwoka & L.J. White, ed., The Antitrust Revolution, 3rd edition, 1999, Scott, Foreman & Co. Required. A.T
Library:
R.E. Grieson, ed., Antitrust and Regulation, 1986, Lexington Books. A. + R.
Available in library as needed. Also other readings cited.
Part I. Basic Issues: Review and Extension
A. Background & Overview.
1. Government. V et.al. Ch. 1 & 2
2. The market, efficiency (including x), equity & choice.V. et.al., Ch. 4.
B. Monopoly and Oligopoly. (Also review competition and monopolistic competition.) V. et.al. Ch. 5, 6, & 11
Posner, R.A., “The Social Cost of Monopoly and Regulation,” Journal of Political Economics, August 1975, 807.
Dewey, D. “Information, Entry, and Welfare: The Case for Collusion,” American Economic Review, September 1979, 587.
Demsetz, H. “Industry, Structure, Market Rivalry and Public Policy,” Journal of Law and Economics, April 1973.
Baumal, W.J., Panzar, and Willig, Contestable Markets and the Theory of Industrial Structure, New York: Harcourt Brace Javanovich, 1982.
Part II. Antitrust
A. Market Power. V. et al. Ch. 3,7,8 & 9 ,.
Areeda, P. & D., F. Turner, “Predatory Pricing and Related Practices Under Section 2 of the Sherman Act,” Harvard Law Review, 88, 1975.
Posner, R.A., Antitrust Law, Chicago, University of Chicago Press, 1976.
Part III. Regulation as a form of Antitrust
A. Market Power. A.T., Part 1, Cases 1,2,& 3
B. Market Behavior, A.T., Part 2, Cases 9, 10, 11, 12 & 13
Also A.T., Part 3, Cases 14, 15, 16, 17 & 18
Winter 2002
Instructor: R. Grieson
TTH 12:00–1:45 p.m.
College Eight 250
Office: Soc Sci I, Rm. 237
Midterm and final examinations (see end of list)
A. Price controls
MacAvoy, P. W. and R. S. Pindyck. The Economics of the Natural Gas Shortage (1960-1980), Amsterdam: North-Holland, 1975.
Neri, J. A. “An Evaluation of Two Alternative Supply Models of Natural Gas,”Bell Journals, 8, Spring 1977, 284–303.
B. Use of monopsony power and price rent taxes for oil and natural gas (in practice, windfall profits taxes). Short and long run.
C. Optimal export and import policies for small and large countries, given balance of payments, etc., problems
Jausman, J. A., “Project Independence Report: An Appraisal of U.S. Energy Needs up to 1985,”Bell Journal of Economics, 6, Autumn 1975, 517–551.Houthakker, H., “Can the U.S. Be Independent in Energy,” Public Utilities Fortnightly, Sept. 1974.
D. Allocation during a crisis—rationing, taxes, auctions, etc.
E. Interaction or substitution effects of pricing natural gas, oil, etc.
F. Second best tax subsidy policies
G. Effects of OPEC on oil prices since 1973 and predicted effects to 1990
Hudson, E. and D. W. Jorgenson, “U.S. Energy Policy and Economic Growth 1975-2000,” Bell Journal, 5, Autumn 1974.
A. Long-run economics of scale
B. Peak load or time of day considerations
C. Interregional equalization
D. The California system (refer to I,F)
A. Optimal exploration and discounting
Hanson, D. A., “Exhaustible Resources; Second Best Pricing Policies for an Exhaustible Resource,” Proceedings: American Economic Review, 67, Feb. 1977, 351–354.Herfindahl, O. C., “Depletion and Economic Theory,” in M. Gaggney, ed., Extractive Resources and Taxation, Madison, 1967.
Hotelling, H., “The Economics of Exhaustible Resources,” Journal of Political Economy, 39, April 1931, 137–175.
Solow, R. M., “The Economics of Resources or the Resources of Economics: Richard T. Ely Lecture,” Proceedings, American Economic Review, 64, May 1974, 1–14.
Nordhaus, W. D., “The Allocation of Energy Resources,” Brookings Papers, 3, 1973, 529–576.
Optional theoretical work:
Shell, A. and J. E. Stiglitz, “The Allocation of Investment in a Dynamic Economy,” Quarterly Journal of Economics, Nov. 1967, 81.Stiglitz, J., “The Efficiency of Market Prices in Long-Run Allocations in the Oil Industry,” in G. Bronnon, ed., Studies in Energy Tax Policy, Cambridge, Mass., 1975.
B. Nature of a depletable resource
C. Effects of and optimal taxation of depletable resources
Agria, S. “Special Tax Treatment of Mineral Industries,” in A. Harberger and M. Bailey, eds., The Taxation of Income From Capital, Brookings Inst., Washington, 1979.
D. What is the long-run supply of depletable natural resources, and will we run out?
E. Second best optimization reconsidered
Most of the material in the course will be from class lectures. Readings are put in as a supplement where available. Much analysis concerning energy is not yet available in readable published form. It is either too mathematical, theoretical, or, two (2) pages of useful general analysis are buried in a 200-page report.
Winter 2002
Instructor: Professor Lori Kletzer
MWF 12:30–1:40 p.m.
N. Sci Annex 103
This course examines the role of women in the American economy. One of my key objectives is to help you learn how to apply the theoretical and empirical tools of economics in understanding the circumstances of women in American society. The principal vantage point is mainstream economics, but alternative economic perspectives are drawn upon, as are insights from other social sciences.
Course Basics
The textbook for the course is The Economics of Women, Men and Work by Francine D. Blau, Marianne Ferber, and Anne E. Winkler, Prentice-Hall, 3rd edition, 1998 (noted below as BFW). The text is available at Bay Tree Bookstore. Additional readings will be available in a reader, available through Electronic Reserves (denoted ERes below (password:gender00), available at http://eres.ucsc.edu.)
I have placed on reserve at McHenry Library a few other books that you might find interesting and useful during the quarter:
Understanding the Gender Gap by Claudia Goldin. Written by an economist
for an audience with some economics background, the book uses historical and
contemporary data to analyze male-female labor market differences.
Race, Gender, and Work: A Multicultural Economic History of Women in the
United States by Teresa Amott and Julie Matthaei.
Beyond Economic Man: Feminist Theory and Economics by Marianne A. Ferber
and Julie A. Nelson.
Women Have Always Worked: A Historical Overview by Alice Kessler-Harris.
Breaking with Tradition: Women and Work, The New Facts of Life by Felice
N. Schwartz with Jean Zimmerman. Schwartz is the author of a highly controversial
article on “The Mommy Track,” published in the Harvard Business
Review in 1989.
The Economics of Gender by Joyce Jacobsen. Another “textbook”
for courses on women in the economy.
Requirements and Grading
Your grade/evaluation will based on a midterm exam (20%), a 10-12 page research paper (30%), 3 short (3–4 page) review papers (30%), and class participation (20%).
The research paper must be on a topic relevant to the course. I will be available for consultation on topics and I will provide a list of suggestions. All topics must be approved by me no later than April 19. I encourage you to use your imagination (and my help). No reasonable topic will be rejected. Papers with social policy relevance are encouraged. The paper’s format is flexible. Among the possible formats are a position paper, a report on original research, a secondary data analysis, or a critical review and synthesis of several major writings on a topic. Research papers will be due on the last day of class (June 2).
As a way of relating the concepts of the course to contemporary affairs, you will write critical reviews (in 3–4 pages) of three (3) newspaper and/or magazine articles of relevance to this course. A critical review consists of an analysis of the contents of the article and commentary on the author’s reasoning and conclusions. A copy of the article must accompany your review when you turn it in.
Writing will be evaluated with reference to form as well as content. This means that grammar, syntax, spelling and organization count.
Other points
In addition to reading the text and supplemental readings, I encourage you
to read a daily newspaper on a regular basis (The New York Times is available
free on-line at www.nytimes.com). As often
as possible, and probably every day, I will talk about “real world”
issues. Some parts of the course are best covered in a traditional lecture format,
and other parts will involve extensive class discussion. At all times you are
expected to be active learners in the sense of participating in class discussions,
keeping up with the required reading, and engaging in outside-of-class reading,
thinking, and writing.
You might consider keeping a daily journal.
Office hours
My office hours will be on Mondays, 2–3pm and Thursdays, 11–12 noon, or by appointment. My email address is lkletzer@cats.ucsc.edu.
Class Schedule and reading list
1. Introduction and overview
March 29, 31
BFW, Chapter 2
(ERes) Jacobsen, Joyce P., “Introduction,” from The Economics of Gender, Blackwell, 1994, pp. 3-36.
2. Brief Review of economic principles
April 3
Fundamental principles of Microeconomics will play an important part in our
analysis. See your textbook from Economics 100A or any good substitute in the
library on at least the following topics: (1) Supply and Demand; (2) Elasticity;
(3) Consumer demand theory—indifference curves; (4) Theory of the firm—production.
BFW, Chapter 1, including appendix.
(ERes) Jacobsen, Joyce, Appendix to Introduction (see above)
3. Women’s Labor Force Participation
April 5–12
BFW, Chapter 4 and appendix.
(ERes) Matthaei, Julie A. chapter on “The Working Girl,” from An Economic History of Women in America, pp. 141-156, Schoken Books, 1982.
[Recommended and on reserve at McHenry Library]
Kessler-Harris, Alice, Women Have Always Worked: A Historical Overview,
The Feminist Press, 1981, chapter 5. [Note: the entire book is on reserve]
4. Sex Differences in Occupations and Earnings
April 14–24
BFW, Chapter 5
(ERes) Bowler, Mary. 1999. “Women’s earnings: An Overview,”
Monthly Labor Review, December, Vol. 122, No. 12.
(ERes) Matthaei, Julie A. chapter on “The Development of Sex-typed Jobs,” from An Economic History of Women in America, pp. 187-232, Schoken Books, 1982.
BFW, Chapter 6
BFW, Chapter 7
(ERes) Black, Sandra E. 1999. “Investigating the Link between competition
and discrimination,” Monthly Labor Review, December, Vol. 122, No.
12
(ERes) Goldin, Claudia, excerpt from “Why Did Change Take So Long?,” on ‘Marriage Bars’, pp. 160–184 in Understanding the Gender Gap, Oxford University Press, 1990.
5. Household Production, Family, Children
April 26–May 3
BFW, Chapter 3.
BFW, Chapter 9.
(ERes) Goldin, Claudia. 1997. “Career and Family: College Women Look to the Past,” in Francine D. Blau and Ronald G. Ehrenberg, eds., Gender and Family Issues in the Workplace. New York: Russell Sage Foundation, pgs. 20-58.
(ERes) Lerman, Robert and Stefanie R. Schmidt, “An Overview of Economic,
Social and Demographic Trends Affecting the U.S. Labor Market,” Section
II on Trends in Work and Family, Urban Institute, August 1999
http://www.urban.org/employment/dol_fr/dol_finalreport.html.
(ERes) Goldin, Claudia and Lawrence F. Katz. 2000. “The Power of the Pill:
Oral Contraceptives and Women’s Career and Marriage Decisions,” February.
http://www.nber.org/papers/W7527
6. Women, Poverty, and Welfare Reform
May 5–12
BFW, chapter 9, pgs. 296–306.
(ERes) Loprest, Pamela. 1999. “Families Who Left Welfare: Who are They
and How are they doing?” Urban Institute, Discussion paper 99-02.
http://newfederalism.urban.org/html/discussion99-02.html
7. Policy
May 15–17
BFW, Chapter 10
(ERes) Waldfogel, Jane. 1997. “Working Mothers Then and Now: A Cross-Cohort Analysis of the Effects of Maternity Leave on Women’s Pay,” in Francine D. Blau and Ronald G. Ehrenberg, eds., Gender and Family Issues in the Workplace. New York: Russell Sage Foundation, pgs. 92–129.
(ERes) Holzer, Harry, and David Neumark. 1999. “Assessing Affirmative
Action,” August.
http://www.nber.org/papers/W7323
8. Economics, Sex, and Gender
May 19–24
(ERes) Bell, Carolyn Shaw, “Economics, Sex, and Gender,” Social Science Quarterly, 1974, 55:3, pp. 615–631.
(ERes) Nelson, Julie A., “Feminism and Economics,” Journal of Economic Perspectives, Spring 1995, pp. 131–148.
(ERes) Kahn, Shulamit, “Women in the Economics Profession,” Journal of Economic Perspectives, Fall 1995, pp. 193–205.
(ERes) “A Study on the Status of Women Faculty in Science at MIT,”
1999.
http://web.mit.edu/fnl/women/women.html
(ERes) Schwartz, Felice, “The Riddle of the Rings,” from Breaking With Tradition: Women, Work and the New Facts of Life, Warner Books, 1992, pp. 9–26.
9. Class Presentations
May 26–June 2
Research Paper topics
Women and Unions
International Comparisons of Male-Female Wage Differentials
Minority Women in the Workplace
The Glass Ceiling
Women and Affirmative Action
Women, Men, Divorce, and Standards of Living
Welfare Reform: Do Time Limits Work?
A Family-Friendly Workplace?