Microeconomic Theory
Microeconomic theory concentrates on the study of the determination of relative prices and their importance in shaping the allocation of resources and the distribution of income in an economy. We will study the optimizing behavior of households in a variety of settings: buying goods and services, saving, and labor supply decisions. We will also examine the behavior of firms in different market structures. Together, the theories of household and firm behavior help illumine contemporary economic issues (discrimination in labor markets, mergers in the corporate world, positive and negative externalities, for example). (MATH 0121 and ECON 0155) 3 hrs. lect.

Fall 2011, Spring 2012, Fall 2012, Spring 2013

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Game Theory I
Game theory is general in scope and has been used to provide theoretical foundations for phenomena in most of the social and behavioral sciences. Economic examples include market organization, bargaining, and the provision of public goods. Examples from other behavioral sciences include social dilemmas and population dynamics. In this course students learn the basics of what constitutes a game and how games are solved. This course is meant to be a broad introduction; students with advanced training in economics (or math) are encouraged to enroll directly in ECON 0390. (Formerly ECON 0380) (ECON 0155 and MATH 0121 required; ECON 0255 recommended) 3 hrs. sem.

Fall 2012, Fall 2013

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Experimental Economics
How do economic incentives influence people’s behavior? In this course students will learn how to test economic models of behavior (e.g., consumption, investment, production) using the experimental lab. Topics include: How and why do markets work? Do people act collectively to provide public goods? What are the determinants of bargaining outcomes? (ECON 0255 required; ECON 0380 or ECON 0390 recommended) 3 hrs. lect.

Fall 2013

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Topics in Behavioral and Experimental Economics
In this seminar we will consider current research topics in behavioral and experimental economics. Although the theme for the course is likely to change from semester to semester, all students will design their own study, gather decision-making data, and write a research paper summarizing their main findings. (ECON 0255 and one of the following: ECON 0280, ECON 0390, or ECON 0399) 3 hrs. sem.

Fall 2011, Spring 2012, Spring 2013

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Individual Special Project
If you choose to pursue an area that we do not offer or go in depth in an area already covered, we recommend the Individual Special Project option. These ECON 0500 proposals MUST be passed by the entire department and are to be submitted to the chair by the first Friday of fall and spring semester, respectively. The proposals should contain a specific description of the course contents, its goals, and the mechanisms by which goals are to be realized. It should also include a bibliography. According to the College Handbook, ECON 0500 projects are a privilege open to those students with advanced preparation and superior records in their fields. A student needs to have a 3.5 or higher G.P.A. in Economics courses taken at Middlebury in order to pursue an Individual Special Project. ECON 0500 does not count towards one of the 10 courses for the major.

Fall 2011, Fall 2012, Winter 2013, Spring 2013, Fall 2013, Spring 2014

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