Carolyn Craven

Assistant Professor of Economics

 work(802) 443-3232
 Mondays and Tuesdays 2:00 PM - 4:00 PM or by appointment.
 Warner Hall 305B

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.



Course List: 

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. SOC

Spring 2014, Spring 2015, Fall 2015, Spring 2016, Spring 2017, Fall 2017, Fall 2018

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ECON 0155 - Intro Microeconomics      

Introductory 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

Fall 2016

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ECON 0222 - 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 2014, Fall 2014, Spring 2016, Fall 2016, Fall 2017

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ECON 0240 - Int'l Econ: Theory & Policy      

International Economics: Theory and Policy
This course provides an overview of international trade and finance. We will use economic theory to help us understand how and why countries interact in the global economy and evaluate the effects of different trade, exchange rate, and macroeconomic policies. Topics covered will include the reasons for trade, the winners and losers from trade, trade policies, trade agreements, exchange rates, the balance of payments, causes of and solutions to financial crises, and the role of the WTO and IMF. ECON 0240 does not count towards the ECON major or minor requirements. (ECON 0150 and ECON 0155) 3 hrs. lect.

Fall 2015

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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 the major or minor requirements.

Spring 2014, Fall 2014, Winter 2015, Spring 2015, Fall 2015, Winter 2016, Spring 2016, Fall 2016, Winter 2017, Spring 2017, Fall 2017, Winter 2018, Fall 2018, Spring 2019

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FYSE 1062 - Listening to the 1930s      

Listening to the 1930s
The 1930s in the U.S. saw both economic crisis and the golden age of Hollywood; both left-wing political movements and deportation of immigrants; both politically-engaged artistic and literary movements and a historic reconception of government’s role. We’ll “listen” to the 1930s through existing oral history sources (Studs Terkel’s Hard Times, PBS’s The Great Depression, Vermont Folklife Center’s Mad River Valley), and the class will create its own oral history podcast using interviews with local residents who remember that decade. Other assignments include short research papers, response essays, an oral presentation, and an in-class performance of a 1930s play. 3 hrs. sem. AMR CW HIS

Fall 2014, Fall 2018

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IPEC 0700 - Intl.Pol.&Economics SR. Thesis      

Senior Thesis
(Approval Required)

Winter 2016, Spring 2016, Winter 2017, Spring 2017, Winter 2018, Spring 2018, Spring 2019

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Program in International Politics & Economics

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