Andrew Fieldhouse joined the Middlebury College Department of Economics as an Assistant Professor in the fall of 2019. His research fields are in empirical macroeconomics and public finance, and his current research focuses on federal credit policy interventions in U.S. mortgage markets. He teaches courses in macroeconomics and stabilization policy.
Professor Fieldhouse holds a Ph.D. and M.A. in Economics from Cornell University and a B.A. in Economics and Political Science from Swarthmore College, where he graduated with high honors. Prior to his doctoral studies, he worked on a range of federal tax and budget policy issues with the U.S. House of Representatives Committee on the Budget, the Economic Policy Institute, and The Century Foundation.
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. (MATH 0121 and ECON 0150) 3 hrs. lect.
Macroeconomics of Depressions
In this course we will develop a framework for analyzing liquidity traps, economic depressions, and failures of macroeconomic stabilization policy. We will contrast the causes of and policy responses to the Great Depression, Japan’s “Lost Decades,” the Great Recession, and the ongoing depression in Greece. We will also study the international transmission of the Great Depression through the gold standard and the global transmission of the Great Recession through modern financial and trade linkages. Throughout, we will track the evolution of views on stabilization policy, austerity, and the costs of prolonged periods of depressed demand. (ECON 0250 or IPEC 0240 [formerly ECON 0240]) 3 hrs. sem.
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.