Carolyn Craven
Associate Professor Emerita of Economics

- Office
- Warner Hall
- Tel
- (802) 443-3232
- ccraven@middlebury.edu
- Office Hours
- Mondays 1:00 - 3:00 PM; Wednesdays 10:00 AM - 12:00 PM
Carolyn Craven majored in Political Economy at Williams and has a Ph.D. in Economics from Yale University. Her research interests included heterodox inflation theory and Latin American inflation. In 2023 she retired after twenty-some years teaching diverse courses at Middlebury, but she has unretired for the academic year 2025-26. She writes fiction without much publication success.
Courses Taught
ECON 0150
Upcoming
Intro Macroeconomics
Course Description
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.
Terms Taught
Requirements
ECON 0222
Economics of Happiness
Course Description
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.
Terms Taught
Requirements
ECON 0500
Individual Special Project
Course Description
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.
Terms Taught
IPEC 0240
Int'l Econ: Theory & Policy
Course Description
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. IPEC 0240 does not count towards the ECON major or minor requirements. (ECON 0150 and ECON 0155) (formerly ECON 0240) 3 hrs. lect.
Terms Taught
IPEC 0700
Upcoming
Intl.Pol.&Economics SR. Thesis
Course Description
Senior Thesis
(Approval Required)
Terms Taught