Carolyn Craven studied Political Economy at Williams College, graduating magna cum laude in 1979, and received her Ph.D. in Economics from Yale University in 1991. Her thesis Structural Theories of Inflation and the Case of Uruguay was written under Carlos Diaz-Alejandro and Gustav Ranis. She received grants from Yale University for dissertation research in Uruguay and Argentina. She taught Principles courses and a seminar on Latin American development while at Yale, and won the Ray Powell Award for excellence in teaching.
From 1988 to 1995 she taught at Franklin & Marshall College, including courses in macroeconomics, Latin American development, and international economics. During that period she published articles on the Latin American history of economic thought and on inflation in Uruguay, and during a sabbatical leave returned to Uruguay for research in a women's textile cooperative in Uruguay.
In 1995 she moved to Middlebury with newborn twins and her husband, Peter Matthews, who was starting a job in the economics department. She has been teaching part-time at Middlebury since 1999. When circumstances allow, she writes fiction.
Courses offered in the past four years.
▲ indicates offered in the current term
▹ indicates offered in the upcoming term[s]
ECON0150 - Intro 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. SOC
Fall 2012, Fall 2013, Spring 2014, Spring 2015, Fall 2015, Spring 2016
ECON0155 - Intro Microeconomics ▹
An introduction to the analysis of such microeconomic problems as price formation (the forces behind demand and supply), market structures from competitive to oligopolistic, distribution of income, and public policy options bearing on these problems. 3 hrs. lect. SOC
Spring 2013, Fall 2016
ECON0222 - Economics of Happiness ▹
Economics of Happiness
We will explore the economics of happiness in both the micro and macro realm. We start with the neoclassical model of rational individuals who know with great precision what makes them happy. Next we explore behaviorist challenges to that model, including issues of regret, altruism, fairness, and gender. On the macro side, we investigate the puzzle of why, though most of us like more income, a growing GDP does not seem to make societies happier; we examine the impact of the macroeconomic environment on individual happiness. Finally we touch on current policy issues such as quantitative happiness indicators that have been adopted around the world, “paternalistic” policy measures to increase happiness, and the no-growth movement. (ECON 0150 or ECON 0155) 3 hrs. lect. SOC
Spring 2013, Spring 2014, Fall 2014, Spring 2016, Fall 2016
ECON0240 - Int'l Econ: A Policy Approach
International Economics: A Policy Approach
This course provides an overview of international trade and finance. We will discuss why countries trade, the concepts of absolute and comparative advantage, and gains from trade. We will explore commercial policies, arguments for and against tariffs, non-tariff barriers, dumping and subsidies, the role of the WTO, as well as the pros and cons of regional free trade associations. In the second part of the course we will primarily concentrate on international macroeconomics, focusing on foreign exchange rates, balance of payments, origins of and solutions to financial crises and the history and architecture of the international monetary system. Beginning Fall 2014, ECON 0240 no longer counts towards the ECON major or minor requirements. (Formerly ECON 0340) (ECON 0150 and ECON 0155) 3 hrs. lect.
ECON0500 - 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 the major or minor requirements.
Fall 2012, Winter 2013, Spring 2013, Fall 2013, Winter 2014, Spring 2014, Fall 2014, Winter 2015, Spring 2015, Fall 2015, Winter 2016, Spring 2016, Fall 2016, Winter 2017, Spring 2017
FYSE1062 - Econ/Culture Great Depression
Brother, Can You Spare a Dime? Economy and Culture in the Great Depression
The Great Depression of the 1930s changed economics forever. It also brought forth a period of distinctly American, socially-engaged literature and visual art. New relationships were forged between the U.S. government and working people, the arts, and the market. In this seminar we study economics to understand the collapse of the American economy; we study painting, photography, music, drama, and oral history to understand the rapid social change taking place. As a group, students will develop a digital media project representing one or more aspects of the 1930s experience. 3 hrs. sem. CW HIS NOR
IPEC0700 - Intl.Pol.&Economics SR. Thesis ▹
Winter 2016, Spring 2016, Winter 2017