News in Economics
Middlebury students compete in Fed Challenge
Nobel Prize for economics awarded to two U.S. economists
Click here for details from CNN
Student/Faculty Collaboration
by Caitlin Knowles Myers, Assistant Professor of Economics
and three Middlebury students;
Grace Close, Laurice Fox, Madeline Niemi,
and John William Meyer
Robert Prasch
Professor of Economics
Email: rprasch@middlebury.edu
Phone: work802.443.3419
Office Hours: Tuesday and Wednesday 4:30 -5:30 PM, Thursday 10:00-12:00 PM at the Wilson Cafe in the Library; or by appointment
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Robert Prasch's CV
Robert E. Prasch joined the Economics Department in 2000 and was promoted to Associate Professor in 2003. He received his Ph.D. in economics from the University of California, Berkeley in 1992. He also has an MA in economics from the University of Denver (1986), and a BA in history and economics from the University of Colorado, Boulder (1983). Before coming to Middlebury, he taught at Vassar College, the University of Maine, and San Francisco State University. Each year, he teaches at least one course on Monetary Theory and Policy, Macroeconomics, and American Economic History. Additionally, he frequently presents the History of Economic Thought as either a Freshman Writing Course or Senior Seminar.Currently, he is completing two book manuscripts. The working title of the first is “A Wage of Her Own: The Rise and Fall of Progressive Era Minimum Wage Legislation for Women: 1913-1923,” the second is “The Political Economy of Empire.” He has also co-edited two books, Thorstein Veblen and the Revival of Free Market Capitalism (Edward Elgar, 2007), and Race, Liberalism and Economics (University of Michigan Press, 2004). His most recent book is How Markets Work: Supply, Demand, and the ‘Real World’ (Edward Elgar, 2008).
In addition to the above, he has published over 80 articles, book chapters, and reviews on sundry topics in a variety of scholarly journals. He also served on the board of editors of the Journal of Economic Issues and is currently on the board of editors of the Review of Political Economy. He has also served on the Board of Directors of both the Association for Evolutionary Economics and the Association for Social Economics.
Courses
Courses offered in the past four years.
▲ indicates offered in the current term
▹ indicates offered in the upcoming term[s]
ECON 0150 - Intro Macroeconomics
Introductory Macroeconomics
An introduction to macroeconomics: a consideration of macroeconomic problems such as unemployment and inflation. Theories and policy proposals of Keynesian and classical economists are contrasted. Topics considered include: banking, financial institutions, monetary policy, taxation, government spending, fiscal policy, tradeoffs between inflation and unemployment in both the short run and the long run, and wage-price spirals. 3 hrs. lect.
Fall 2009
ECON 0220 / HIST 0220 - American Economic History
American Economic History since 1900
This course will provide an overview of the major themes in the growth and development of the modern American economy. Topics will include the economic history of railroads, automobiles, foreign trade, banks and financial markets. We will also examine the role of the courts and government policy in American economic development, with special emphasis on the rise and decline of Laissez-Faire as the dominant mode of economic regulation in the nation's labor and financial markets. (ECON 0150 or ECON 0155) 3 hrs. lect.
Spring 2009, Spring 2010, Fall 2011, Fall 2012
ECON 0229 - Econ Hist/Hist of Econ Thought ▲
Economic History and History of Economic Thought
This course will provide an introduction to economic history and the history of economic thought. We will investigate and understand the causes and consequences of important historical events and trends, such as industrialization and globalization, from an economic perspective. This evaluation involves studying how prominent economists perceived and analyzed the events of their time. (ECON 0150) 3 hrs. lect.
Fall 2013
ECON 0250 - Macro Theory
Macroeconomic Theory
Macroeconomic theory analyzes whether the market effectively coordinates individuals' decisions so that they lead to acceptable results. It considers the effectiveness of monetary, fiscal, and other policies in achieving desirable levels of unemployment, inflation, and growth. The theories held by various schools of economic thought such as Keynesians, monetarists, and new classicals are considered along with their proposed policies. (ECON 0150) 3 hrs. lect.
Spring 2012, Spring 2013
ECON 0375 - Monetary Theory and Policy ▲
Monetary Theory and Policy
This course will cover the determination of interest rates, portfolio theory, the demand for money, and the supply of money process. Emphasis will be on the difficulties faced by the Federal Reserve in its goals of achieving a steady growth in aggregate demand while doing its best to ensure that monetary disorder, such as that which characterized the Great Depression, does not reoccur. (ECON 0150 and ECON 0155) 3 hrs. lect.
Spring 2009, Spring 2010, Fall 2011, Spring 2012, Fall 2012, Fall 2013
ECON 0450 - History of Economic Thought
History of Economic Thought
This course offers a historical and analytical perspective on the development of economic ideas. It asks the question: Why is economics what it is today? A number of international issues will be considered, such as the differential development of economic ideas in different countries, comparative advantage and its relation to trade, and the development and spread of socialist ideas. In this course students will read Adam Smith, Karl Marx, and Frederich Hayek. (ECON 0250 and ECON 0255; or by approval) 3 hrs. sem.
Fall 2009, Spring 2013
ECON 0500 - Individual Special Project ▲ ▹
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.
Spring 2009, Fall 2009, Winter 2010, Spring 2010, Fall 2010, Winter 2011, Fall 2011, Winter 2012, Spring 2012, Fall 2012, Winter 2013, Spring 2013, Fall 2013, Spring 2014
ECON 1005 - Economics of Imperialism
The Economics of Imperialism
In this course we will examine several aspects of the economics of imperialism. It begins with a review of the several varieties of empire along with reading some of the "classics" on the subject by John Hobson, Charles Conant, Rudolf Hilferding, and others. Next will be a historical examination of the British Empire to review its economic causes and effects. Was it, as we are now increasingly told, a force for economic progress? Or was it a dressed-up form of plunder? The course concludes with a consideration of the notion of "The Imperialism of Free Trade" and the contemporary foreign economic policy of the United States. This course may count towards the economics major requirements as a 0200 level elective.
Winter 2012
ECON 1013 - Current Debates in Economics
Current Debates in Economics
This course will expose students who are not majoring or minoring in economics to certain current debates in economics professions, such as free trade vs. protectionism, work fare vs. welfare, pros and cons of federal deficits, deregulated financial markets, bank bailouts, immigration, and environmental activism. Basic economic tools to facilitate better understanding of the assigned readings will be covered in the class lectures. In addition, students will be required to read and present key articles which focus on some of these ongoing debates. The main objective of this course is for students to have a better appreciation of the opposing opinions in such debates. (Not open to economics majors/minors; not open to those students who have received credit for ECON 0150 or 0155)
Winter 2010
INTL 0702 - EUS Senior Thesis
IPEC 0500 - Independent Project ▲
IPEC 0700 - Intl.Pol.&Economics SR. Thesis ▲ ▹
Senior Thesis
(Approval Required)
Fall 2012, Winter 2013, Spring 2013, Fall 2013, Spring 2014