Economics

Go to: Division of History and Social Sciences

Faculty

Felipe Carrera
Industrial organization, applied microeconomics, economic history.

Erin Cottle Hunt
Macroeconomics, public finance, life-cycle economics.

Denise Hare
Economics of development, labor economics, economics of transition, China’s economy.

Noelwah R. Netusil
Environmental and natural resource economics, public sector economics, law and economics.

Lindsey K. Novak
Development economics, health economics, economics of gender, behavioral economics.

Jonathan C. Rork
State and local public finance, urban and regional economics, microeconomic theory.

Curriculum

Economics is a study of the choices that individuals and societies make about how to allocate their scarce human, natural, and capital resources among competing uses. It is a social science, applying scientific methods of analysis to problems of human interaction.

Economics courses at Reed blend presentation of classical and modern economic theories with discussion of empirical tests and policy implications of the theoretical models. The objectives of the department are to equip prospective professional economists with basic analytical techniques and to provide nonspecialists with the understanding necessary to explain economic phenomena and to evaluate economic policy alternatives.

The introductory course (ECON 201 ) covers microeconomic theory with substantial and varied applications including student participation experiments, group projects, policy discussions, and problem-solving. Topical courses in economics, (most of which have no more than ECON 201 as a prerequisite), allow students to explore further the application of economic theories and methods to a wide variety of subject areas. Although a textbook is sometimes used as the foundation for these courses, it is supplemented by reading from journal articles, conference papers, and other timely reports in order to provide students with a more critical appraisal of the field’s main findings and its newest developments.

A nonmajor taking economics to fulfill distribution or divisional requirements typically would take ECON 201 (open to all students without prerequisite) and one additional course chosen according to their interests. Students considering a major in economics are advised to take ECON 201 during their first year, though many students successfully complete the major starting their economics coursework as sophomores.

Economics majors take core coursework in economic theory (ECON 313 and either ECON 304 or ECON 314 ) and statistics and econometrics (ECON 311 or ECON 312 ), as well as a selection of elective courses.

ECON 311 and ECON 312 are alternative econometrics courses, not a consecutive sequence. Because there is considerable overlap between them, students should not plan to take both.
ECON 304 and ECON 314 are alternative courses in macroeconomics, not a consecutive sequence. Because there is considerable overlap between them, students should not plan to take both.

Although there is no formal mathematics requirement, the methods of modern economic analysis require a working understanding of calculus, which is a prerequisite for the required courses in microeconomic and macroeconomic theory. Students considering graduate study in economics should take additional courses in mathematics as suggested below. A concentration in quantitative economics is offered for students desiring a stronger emphasis on quantitative analysis.

Economics majors are well prepared for a variety of postgraduate alternatives, including academic, public policy, law, business, or nonprofit career paths.

Programs

Majors

Minors

Economics Minor

Courses

Economics