Economics and Accounting
The Department of Economics and Accounting offers majors in two distinct subject areas: economics and accounting, as well as a selective honors program. Students are not permitted to double major in the two subject areas. Members of the department are dedicated teachers who value the opportunity at Holy Cross to interact closely with their students. They are also productive scholars, whose research has been published in leading economics and accounting periodicals.
Department Honors Program
This program is limited to a small number of third- and fourth-year economics and accounting majors. Students apply for the program in the fall semester of the third year. Economics majors normally need to complete ECON 249 Statistics, ECON 255 Microeconomics and ECON 256 Macroeconomics by the end of that semester to be eligible for the program. Accounting majors normally need to complete accounting courses through ACCT 278 Intermediate Accounting 2, ECON 110 Principles of Economics, and ECON 249 Statistics and MATH 135 Calculus 1 (or equivalent) by the fall of the junior year. During the second semester of both the third and fourth years, honors students participate in a methodology seminar; during the first semester of the fourth year the thesis is written under the direction of a faculty advisor. The honors course sequence is: ECON 460 Research Methods 1 during spring of the third year; ECON 462 Economics Honors Directed Research during fall of the fourth year; and ECON 461 Research Methods 2 during spring of the fourth year.
ECON 460 Research Methods 1 is a one-unit course that counts as the equivalent of a 200-level economics elective. ECON 461 Research Methods 2 is a half-unit overload which may be taken pass/no pass. ECON 462 Economics Honors Directed Research counts as the equivalent of a 300-level economics elective. Students must meet the standards of the program in each course to receive the honors designation at graduation.
Non-Majors
Introductory courses in economics and accounting are available to non-majors. Students with an interest in economics should consider enrolling in ECON 110 Principles of Economics. This course is open only to first and second year students. Some courses are offered for third and fourth year students who are not economics majors.
Non-majors seeking an introduction to accounting should take ACCT 181 Financial Accounting. Students may also enroll in ACCT 175 Excel Finance Lab. This quarter-unit, pass/no pass computer lab introduces non-major students to Excel and basic finance concepts.
Advanced Placement Credit
Holy Cross awards credit for Advanced Placement exams taken through the College Board Advanced Placement Program and the International Baccalaureate Program and will accept some Advanced Level General Certificate of Education (A-Level) exams. One unit of credit is awarded for an Advanced Placement score of 4 or 5 in any discipline recognized by the College. One unit of credit is awarded for a score of 6 or 7 on a Higher Level International Baccalaureate Examination in a liberal arts subject. One unit of credit is awarded for a score of A/A* or B on an A Level exam in a liberal arts subject. The College does not award credit for the IB Standard Exam or the A-Level Exam. AP, IB, and A-Level credit may be used to satisfy deficiencies and common area requirements. Each academic department has its own policy regarding the use of AP or IB credit for placement in courses and progress in the major. The Department Chair must also review the A-Level score to determine placement in courses and progress in the major. See departmental descriptions for further information.
Robert W. Baumann, Ph.D., Professor
Miles B. Cahill, Ph.D., Professor
Katherine A. Kiel, Ph.D., Professor
Victor A. Matheson, Ph.D., Professor
Melissa A. Boyle, Ph.D., Associate Professor
Joshua M. Congdon-Hohman, Ph.D., Associate Professor, Chair
Steven M. DeSimone, Ph.D., Associate Professor
Ivan Kandilov, Ph.D, Associate Professor
Daniel Schwab, Ph.D., Associate Professor
Olena Staveley-O'Carroll, Ph.D., Associate Professor
Justin C. Svec, Ph.D., Associate Professor
Karen Teitel, Ph.D., Associate Professor
Daniel Tortorice, Ph.D., Associate Professor
Joshua Abel, Ph.D., Assistant Professor
Daniel Gomez-Vasquez, Ph.D., Assistant Professor
Kelly Ann McKenna, Ph.D., Assistant Professor
Christopher Oconnor, Ph.D., Assistant Professor
Dana J. Smith, Ph.D, Assistant Professor
Benjamin Yang, Ph.D, Assistant Professor
Katherine Zhou, Ph.D., Assistant Professor
Allison Lynn Richardson, M.B.A., Professor of Practice
Elizabeth Seidler, Ph.D, Visiting Associate Professor
Fatima Aqeel, Ph.D., Visiting Assistant Professor
Michael C. Quinn, Ph.D., Visiting Assistant Professor
Hermine Vedogbeton, Ph.D., Visiting Assistant Professor
Jeremy Garrison, Cand. Ph.D., Visiting Instructor
Moira Gidseg, Cand. Ph.D., Visiting Instructor
Thomas Gottschang, Ph.D., Faculty Academic Advisor
Shannon Beattie, M.B.A, Visiting Lecturer
Michael Nadolski, Ph.D., Visiting Lecturer
Robert Reinauer, Cand., Ph.D., Visiting Lecturer
Mariesa Victoria, M.B.A., Visiting Lecturer
Thomas R. Gottschang, Ph.D., Professor
Academic Plans within Economics and Accounting
Other Academic Plans Accepting/Requiring Economics and Accounting Coursework:
Economics (ECON)
ECON 100 — Core Principles of Economics Course count: 1
Economics is the study of the allocation of scarce resources among competing uses. Microeconomics investigates how households and firms make individual and social decisions concerning the allocation of resources through their interactions in markets. Macroeconomics studies national level economic issues such as growth, inflation, unemployment, interest rates, exchange rates, technological progress, and government budgets. This course introduces the central topics of both microeconomics and macroeconomics in one semester. The purpose of the course is to provide a basic understanding of economics for students who are not economics majors.
Students who have taken ECON 110, 111, or 112 may not enroll in this course.
GPA units: 1
Common Area: Social Science
ECON 110 — Principles of Economics Course count: 1
Economics is the study of the allocation of scarce resources among competing uses. This course is an introduction to economic issues and the tools that economists use to study those issues: supply and demand, decision making by consumers and firms, market failures, economic output and growth, fiscal and monetary policy in relation to unemployment and inflation, interest rates, technological progress, and international economics. Topics include both the study of markets and the need for public policy/government action to address market failures. Course is intended for students who are considering all majors or concentrations which require an introductory economics course. Course makes use of graphing and algebra, and meets for four hours per week.
Antirequisite: Students who have taken either ECON 111 or ECON 112 may not enroll in this course.
GPA units: 1.25
Common Area: Social Science
Typically Offered: Fall, Spring
ECON 114 — Social Welfare & Public Policy Course count: 1
This course explores the development and impact of public welfare, public health, public education, and other social programs in the United States. It analyzes the values and assumptions that formed the foundations of social welfare policy and explores the economic, politica¿l,¿and social context in which these policies developed. The course utilizes economics tools and the results from empirical economics research to evaluate the effectiveness of such policies in improving outcomes for vulnerable populations including low-income households, children and the elderly. The course is for juniors and seniors with no prior study in economics.
Students who have taken ECON 110, 111, or 112 may not enroll in this course.
GPA units: 1
Common Area: Social Science
ECON 149 — Statistical Analysis Course count: 1
This course introduces probability and statistics. After covering the basic summary statistics, the course transitions into the construction and the rules of probability, such as the permutations and combinations, addition law, multiplication law, conditional probabilities, and Bayes's Theorem. This knowledge is necessary for the study of random variables, which is the focus of the remainder of the course. Within random variables, topics include discrete random variables, continuous random variables, probability distribution functions, cumulative probability distribution functions, expected values, variances, sampling, confidence intervals, hypothesis testing, and the Central Limit Theorem. The course concludes with an introduction of least squares estimation that focuses on interpretation of the estimates and goodness-of-fit.
GPA units: 1
Common Area: Mathematical Science
ECON 199-S01 — Introduction to Monetary Policy Course count: 1
This course for non-majors provides an introduction to monetary policy, including the structure of the Federal Reserve System, how monetary policy is conducted, and how monetary policy affects the economy. This course meets a requirement for the Ethics, Society, and the Institution of Business student-designed minor.
This class is open to 3rd or 4th year non Econ or non Acct majors only.
GPA units: 1
Common Area: Social Science
ECON 200 — Tutorial Course count: 1
Individual research on selected topics or projects. Permission of the instructor and the department chair is required.
GPA units: 1
Typically Offered: Fall, Spring
ECON 210 — Economics of European Union Course count: 1
Applies economic theory (e.g., market equilibrium, externalities, optimal exchange rate arrangements, and welfare effects of free trade) to understand multiple facets of the process of the EU integration. Discusses the history of European integration (with the emphasis on political motivations of different national and political leaders); free mobility of goods, services, capital, and labor; regional income inequality; trade and environmental issues related to Common Agricultural and Common Fisheries Policies; the Euro; labor market policies and unemployment; sustainability of the government-provided pension systems; and the EU as a political player on the world stage.
Prerequisite: ECON 110, ECON 111, or ECON 112.
GPA units: 1
Common Area: Social Science
Typically Offered: Alternate Years
ECON 212 — Gender Economics Course count: 1
This course addresses issues of gender in the economy from a theoretical and empirical perspective. It considers gender gaps and inequalities in a variety of settings, including the labor market and the household. Students study the role that differences by gender in occupation and industry choice, care provision, discrimination, and other factors play in perpetuating gaps. Finally, the course explores the implications of gender inequalities and evaluates the appropriate role of public policy in addressing them.
Prerequisite: ECON 110, ECON 111, or ECON 112.
GPA units: 1
Common Area: Social Science
ECON 219 — Economics and Popular Culture: Insights from Film, TV, Ads, Social Media, Music, and Literature Course count: 1
This course explores dynamic intersection of economics and popular culture. Through the lens of film, television series, advertisements, social media, music, and literature, students will gain a deeper understanding of economic principles and their real-world applications using economic models.
Prerequisite: ECON 110
GPA units: 1
Common Area: Social Science
Typically Offered: Alternate Years
ECON 224 — Environmental Economics Course count: 1
Shows how natural resource usage and environmental issues can be analyzed from an economic perspective. Presents the basic concepts of environmental economics and develops the analytical and policy tools used in environmental economics. Considers the problems of air pollution, water pollution and solid and hazardous waste management, their causes and how they can be reduced. Other topics such as global warming, amendments to the Clean Air Act and international environmental issues will be discussed.
Prerequisite: ECON 110 or ECON 111 and ECON 112 or ENVS major and ECON 112.
GPA units: 1
Common Area: Social Science
Typically Offered: Annually
ECON 225 — Economics of Personal Finance Course count: 1
This course applies the tools of financial economics to decisions individuals face over their life cycle. Students analyze saving, borrowing, investing, taxation, and retirement decisions using economic models of intertemporal choice, risk and return, and financial market equilibrium. The course draws on both theoretical and empirical research from the growing academic field of personal and household finance. Throughout the semester, by completing weekly homework assignments and a team project (case study), students will apply economic reasoning to real-world financial decisions and reflect on the broader institutional and ethical implications of financial and insurance markets.
Prerequisite: ECON 110 or Equivalent.
GPA units: 1
Typically Offered: Alternate Years
ECON 230 — Financial Markets and Institutions Course count: 1
A basic introduction to the main features of financial institutions and markets in the United States. First part covers interest rates, including rate of return calculations, how markets determine the overall level of interest rates and why different securities pay different interest rates. Second part covers financial markets and the assets that are traded on those markets, including the money, bond, stock and derivatives markets. Last section details workings of some financial institutions, including banks, mutual funds and investment banks. When discussing these institutions, particular attention is paid to conflicts of interest.
Prerequisite: ECON 110 or ECON 111 and ECON 112. Students who have taken ACCT 275 may not enroll in this course.
GPA units: 1
Typically Offered: Alternate Years
ECON 235 — Feminist Economics and Latin American Economic Development Course count: 1
This course applies feminist economic theories to the study of economic development in Latin America. We will examine the evolution of women's property rights, access to resources and employment, and socio-economic position with respect to men. We will use economic tools to understand the role that gender plays in various development models as well as in the analysis of poverty, inequality, credit, land, and labor markets. The course will look at the impact of economic change and economic development on gender, families and the household, as well as women's responses to such changes via movements for social and gender justice. Because of the importance of indigenous communities and movements in Latin America, the course will take a close look at changing gender roles within indigenous communities. We examine 'post-development' feminist alternatives to modernization that have emerged from the Global South, as well as the fluidity of gender in both indigenous and non-indigenous communities.
Prerequisite: ECON 110
GPA units: 1
Common Area: Social Science
ECON 236 — Economics of Climate Change Course count: 1
There is a continued trend in the accumulation of carbon dioxide emissions causing rapid global warming with impacts on the environment, species, the economy, and society. This course explores the economic causes and consequences of climate change and potential solutions to reduce its impacts. We will assess climate change policies in the U.S and globally. We will also use economic theories and models to evaluate their costs and benefits and distributional effects between poor and rich countries.
Prerequisite: ECON 110 or equivalent.
GPA units: 1
Common Area: Social Science
Typically Offered: Annually
ECON 239 — Latin American Economic History and Development Course count: 1
Review and analysis of the economic history and development of Latin American countries. After a brief introduction to the general topic we will spend the first part of the class on historical perspectives of Latin American economies, especially their colonial legacy. We then review the rise of economic development theory post World War II with particular attention to alternative theories and those originating from Latin America. The latter sections will focus on debt crises, stabilization policies, trade and development, the agricultural sector and issues of gender, inequality and rural poverty. We conclude with a look at contemporary macroeconomic issues in Latin America.
Prerequisite: ECON 110 or Equivalent.
GPA units: 1
Common Area: Social Science
ECON 249 — Statistics Course count: 1
An introduction to statistical methods emphasizing the statistical tools most frequently used in economic analysis. Topics include descriptive statistics, probability theory, random variables and their probability distributions, estimation, hypothesis testing and linear regression analysis. Students may take MATH 376 in place of this course but may not take both courses.
Prerequisite: ECON 110 or ECON 111 or ECON 112. Students who have taken BIOL 275, MATH 220, MATH 376, PSYC 200 or SOCL 226 may not enroll in this class.
GPA units: 1
Common Area: Mathematical Science
Typically Offered: Fall, Spring
ECON 255 — Microeconomics Course count: 1
Analyzes the economic behavior of households and firms and their interrelations within the market. Price and resource allocations in the following market structures are considered: pure competition, monopolistic competition, oligopoly, monopoly and monopsony. Concludes with a discussion of general equilibrium and its welfare implications.
Prerequisite: ECON 110 and (MATH 134 or MATH 136), or ECON 111 and ECON 112 and (MATH 134 or MATH 136).
GPA units: 1
Typically Offered: Fall, Spring
ECON 256 — Macroeconomics Course count: 1
Studies aggregate economic behavior as determined by interactions among the product, financial and labor markets. Variables focused upon are the general levels of prices, of national income and of employment. Applications of the theory are made and policy inferences are drawn with respect to employment and price stability, growth and development, trade and the global economy.
Prerequisite: ECON 110 and (MATH 134 or MATH 136), or ECON 111 and ECON 112 and (MATH 134 or MATH 136).
GPA units: 1
Common Area: Social Science
Typically Offered: Fall, Spring
ECON 265 — Quantitative Microeconomics Course count: 1
This course introduces students to the mathematical modeling techniques commonly used by microeconomists. With the help of statistical software packages (Excel, Stata, etc.) students will learn applications such as demand and supply estimation, calculating elasticities, and empirically measuring income and substitution effects. Students will also learn about common pitfalls in data analysis and will critically evaluate various empirical models by critiquing studies from the economics literature.
Prerequisite: ECON 255 and ECON 249 or PSYC 200 or MATH 376 or STAT 376. Students who have taken ECON 314 are unable to enroll in this course.
GPA units: 1
ECON 266 — Quantitative Macroeconomics Course count: 1
This course reinforces theoretical concepts from ECON 256 (Macroeconomics) using numerical examples. This course exposes students to economic data and several software applications that are commonly used to manipulate economic data. Students will gather economic data from online sources and learn to manipulate it using software application such as Excel, Stata, and MatLab. The goal of the course is to bring the theoretical concepts from ECON 256 to life while evaluating policy outcomes using real world examples.
GPA units: 1
Typically Offered: Fall, Spring
ECON 299-F05 — Housing Finance and the Economy Course count: 1
The course will theoretically and empirically explore housing and mortgages, often relying on tools from financial theory but also stressing their uniqueness relative to other financial products. The course will begin by analyzing how individual households navigate decisions related to housing and mortgages. Then, market outcomes will be analyzed. Finally, the course will explore the implications of these markets for the behavior of the macroeconomy, with special attention given to the housing bust that began in 2006 and its aftermath. No prior exposure to financial theory is expected.
Prerequisite: ECON 110 or Equivalent.
GPA units: 1
ECON 299-S02 — Economics of Poverty Course count: 1
Why does poverty persist in some places and for some people while declining in others? How do we define and measure poverty, inequality and vulnerability, and why does it matter? This course takes a deep dive into the economics of poverty, exploring both U.S. and global perspectives. We will examine how poverty is measured both traditionally and through new approaches, including multidimensional approaches. We will use interactive tools and data-driven exercises to visualize poverty and related concepts. You will gain hands-on experience with statistical software to analyze inequality and poverty trends, engage with real-world case studies on poverty traps and vulnerability, and debate the effectiveness of major anti-poverty policies. We will also investigate the role of international organizations in poverty alleviation and critically assess global development efforts. By the end of the course, you will not only understand the complexities of poverty, but also be equipped with the analytical tools needed to evaluate policies designed to combat poverty, and needed to engage effectively in global conversation around poverty.
Prerequisite: ECON 110 or Equivalent.
GPA units: 1
Common Area: Social Science
ECON 302 — Industrial Organization and Public Policy Course count: 1
Studies the theoretical and empirical relationships among market structure, conduct and performance in American industry. The knowledge gained is used to evaluate U.S. antitrust policy. A number of industry case studies and landmark court decisions are read.
Prerequisite: ECON 255
GPA units: 1
Typically Offered: Every Third Year
ECON 303 — Labor Economics Course count: 1
Analyzes the labor market and the allocation of human resources. Topics include theories of unemployment and job search, wages, unions, income inequality and poverty, education, discrimination, immigration, household economics, and major issues of public policy.
GPA units: 1
Typically Offered: Alternate Years
ECON 304 — Law & Economics Course count: 1
Examines the relative efficiency of alternative legal arrangements using microeconomics as the basic investigative tool. Core of the course consists of a thorough analysis of the common law. Special emphasis is given to the areas of property, contract, liability and criminal law.
Prerequisite: ECON 255
GPA units: 1
Typically Offered: Alternate Years
ECON 307 — Theory Of International Trade Course count: 1
Examines the causes and consequences of the trade of goods and services among nations. Attention is given to the principle of comparative advantage, the Ricardian model of trade, the factor endowments theory of trade, the specific factors model, new theories of trade, the causes and consequences of trade restrictions, economic growth and trade, international factor movements, immigration, and economic integration. Policy implications are emphasized.
Prerequisite: ECON 255
GPA units: 1
Typically Offered: Alternate Years
ECON 312 — Monetary Theory Course count: 1
This course builds a model of the financial sector of the economy, uses it to gain an understanding of the workings of the financial system, and makes predictions of the effects of events on the financial system and economy as a whole. Particular emphasis is placed on understanding the workings of the Federal Reserve System and monetary policy. Thus, this course provides an understanding of the role and measurement of money; the theories of money demand and money supply; the workings of the banking system; interest rate determination; how prices of stocks, bonds and other assets are determined; and the role the financial system plays in the macroeconomy.
GPA units: 1
Typically Offered: Alternate Years
ECON 314 — Econometrics Course count: 1
Studies statistical methods used to estimate and test economic models. After a review of basic probability and statistics, the method of ordinary least squares regression is examined in detail. Topics include the Gauss-Markov theorem, inference, multicollinearity, specification error, functional forms, dummy variables, heteroskedasticity and autocorrelation. Simultaneous equations and qualitative dependent variables may also be considered. A quantitative research paper is required.
GPA units: 1
Typically Offered: Annually
ECON 315 — Political Economy Course count: 1
This course examines both the inherent limitations of the market and the role public policy plays in achieving social efficiency. In addition to models of externalities and public goods, this course analyzes voting systems, lobbying, redistribution, and optimal taxation. These models are applied to the pollution market, auctions, and insurance.
GPA units: 1
Typically Offered: Alternate Years
ECON 317 — Development Economics Course count: 1
This course introduces students to the field of development economics, a field that emphasizes the study of issues surrounding low- to middle income individuals and countries. The course will cover economic theory and provide an introduction to the empirical evaluation of development policies and programs. This course teaches students how to make the transition to the practice of development analysis in a way that is disciplined by economic theory, informed by empirical research, and connected to contemporary development efforts in a framework that is built on microeconomic foundations. The course will highlight the importance of transaction and transportation costs; risk; information problems; institutional rules and norms; education, health and labor sectors; and insights from behavioral economics. It then presents examples of rigorous evaluation of development policies and issues from around the world.
GPA units: 1
ECON 318 — Game Theory Course count: 1
Introduces and develops various concepts in the field of game theory with an emphasis on applications to economic problems. Game theory is the study of the behavior of rational, strategic agent-players who must attempt to predict and to influence the actions of other participants. Numerous solving techniques are developed to identify and refine the equilibria in a broad range of ¿games,¿ including competitive games, cooperative games, bargaining games, games of incomplete and asymmetric information, repeated games, and auctions. Applications will be drawn from diverse fields, including labor economics, finance, industrial organization, and political economy.
GPA units: 1
Typically Offered: Alternate Years
ECON 319 — Urban Economics Course count: 1
ECON 325 — Public Economics Course count: 1
This course examines the role of the government in the economy. We will focus primarily on the microeconomic functions of government, investigating tax and spending policies and the impact of these policies on private agents. This course covers a wide range of public policy issues including tax reform, education policy, public health insurance and health care reform, Social Security, and cash welfare.
GPA units: 1
Typically Offered: Alternate Years
ECON 326 — Economics of the Arts Course count: 1
Examines the markets for the performing and visual arts in the United States. The course begins by utilizing economic tools to analyze supply and demand in these markets, and then covers a number of special topics. Issues considered include copyrights, ticket scalping, performer wages and labor unions, government subsidization of the arts, auctions, art as an investment and the political economy of the arts sector.
GPA units: 1
Typically Offered: Alternate Years
ECON 329 — Economics of Sports Course count: 1
Applies economic tools to study the field of professional and collegiate sports. Topics include the organization of sports leagues, profit maximization by teams, the application of antitrust to sports, competitive balance, labor relations, gender and racial discrimination, the tension between academics and athletics at universities and the economic impact of sports on local economies. Special emphasis is placed on the relationship between law and economics in sports and the regulation of leagues and athletes.
GPA units: 1
Typically Offered: Alternate Years
ECON 330 — International Finance Course count: 1
Studies large-scale economic interactions among interdependent economies using advanced theoretical and empirical tools from economics. Addresses topics such as the role of financial traders in exchange rate determination, the impact of monetary and fiscal policies on the international asset position of a country, the role of the International Monetary Fund in promoting economic development and stability around the globe, and the effects of macroeconomic policies of advanced nations on emerging market economies.
GPA units: 1
Typically Offered: Alternate Years
ECON 332 — Financial Economics Course count: 1
This course serves as an introduction to the data and mathematical models of modern financial economics. Topics covered include present value models for the pricing of fixed income securities, the dividend discount model and the Capital Asset Pricing Model for equity evaluation, optimal portfolio choice theory and binomial and Black-Scholes models for options pricing. Students will also collect and analyze data on asset prices.
GPA units: 1
Typically Offered: Alternate Years
ECON 333 — Economics of Gambling Course count: 1
The economics of gambling covers different types of gambling including casino gaming, sports betting, and lotteries. The class explores the mathematics of gambling, who benefits and loses from the legalization of gambling, public finance and gaming, the economic impact of casinos, and the economics of gambling addiction.
GPA units: 1
ECON 334 — Economics of Immigration Course count: 1
This course focuses on the economics of immigration, migration, and immigrant workers. We will explore the causes and impacts of human movement including internal, international, and forced migration. Students can expect to read and discuss empirical research papers in economics each week. The course begins by studying who migrates and the causes of immigration, then examines the impacts on communities that receive many immigrants, and ends with a module on the impact of migration on migrants origin communities. Major assignments include a presentation on a recent paper on immigration economics and a proposal for a paper with novel research questions of the students choice.
GPA units: 1
ECON 335 — Health Economics Course count: 1
Health is one of the most important outcomes in any economy. This course studies economic theories relating to the valuation of health and the economic factors that influence the production of health. We also examine modern empirical techniques to understand how economic factors and government policies affect health outcomes. Finally, we will examine topics important for health determination at a national and international level including: insurance, Medicare and Medicaid, public health institutions, innovation and inequality.
GPA units: 1
Typically Offered: Annually
ECON 336 — College Fed Challenge Course count: 1
This course exposes students to a rigorous exploration of advanced macroeconomic concepts, with a special emphasis on the conduct of monetary policy by the U.S. Federal Reserve. During the semester, students will research real-time developments in the financial, labor, and goods markets of the United States and make policy-oriented presentations based on their findings. The guided student research will culminate in the College Fed Challenge, in which teams of students will deliver professional 15-minute presentations in front of a panel of judges (academics and/or professional economists) either at the Federal Reserve Bank of Boston or on campus. As such, all aspects of the course will emphasize teamwork. Following the presentations in November, the rest of the course will focus on topics in macroeconomic forecasting.
GPA units: 1
Typically Offered: Annually Fall
ECON 337 — College Fed Challenge II Course count: 0
This half-credit course provides an overload opportunity for students seeking to participate in the College Fed Challenge (Econ 336) for a second time. The course exposes students to a rigorous exploration of advanced macroeconomic concepts, with a special emphasis on the conduct of monetary policy by the U.S. Federal Reserve. During the semester, students will research real-time developments in the financial, labor, and goods markets of the United States and make policy-oriented presentations based on their findings. The guided student research will culminate in the College Fed Challenge, in which teams of students will deliver professional 15-minute presentations in front of a panel of judges (academics and/or professional economists) either at the Federal Reserve Bank of Boston or on campus. As such, all aspects of the course will emphasize teamwork. The course concludes after these presentations, whereas College Fed Challenge (Econ 336) continues on to focus on macroeconomic forecasting.
GPA units: 0.5
Typically Offered: Annually Fall
ECON 380 — Experimental Economics Course count: 1
This course is an introduction to economics as an experimental social science. It presents experiments as a tool for collecting data about individual and group behavior in the laboratory, field, or online. We will start by learning how to test economic theories, as well as how to use experimental methods to investigate questions that may not be possible to study with other kinds of data. We learn the applications of experimental methods to the study of several specific topics, including pro-social and anti-social behavior, and applications to labor and gender economics.
GPA units: 1
Typically Offered: Alternate Years
ECON 399-F05 — Designing Fair Markets Course count: 1
How should we allocate kidneys for transplant to potential recipients? Why do some public schools have a lottery system? Why is it so difficult for you to get into the economics courses that you want? This course introduces and provides a survey of topics in market design. A market is a system of institutions and rules that together allow individuals to participate in exchange over limited resources. Market design is the study of how to structure these systems to achieve desirable outcomes. The course places particular emphasis on understanding why there is often no perfect market, as market design often has to trade off between desirable characteristics like efficiency vs. equity or information transparency vs. user friendliness. Topics include auctions (government auctions for public goods, comparing private auctions like eBay to marketplaces like Amazon), matching markets (marriage markets, school choice, kidney transplant), and two-sided platforms (advertising, job search, dating sites).
Prerequisite: ECON 255.
GPA units: 1
ECON 400 — Directed Readings & Research Course count: 1
A program in reading and research in a specific topic open to majors with a minimum GPA of 3.25. Permission of the instructor is required.
Course open to Economics majors only.
GPA units: 1
Typically Offered: Fall, Spring
ECON 460 — Research Methods 1 Course count: 1
A department honors seminar that examines the methodology used by economists. Students learn what the economist does by examining specific economic studies. The steps involved in undertaking research and alternative methodological approaches are treated. A high level of student participation is expected. By the end of the seminar the students settle upon topics that they will research in the fourth year and write a prospectus. Counts toward the major as the equivalent of a lower-level 200 level economics elective.
GPA units: 1
Typically Offered: Annually
ECON 461 — Research Methods 2 Course count: 0
This is a continuation of Economics 460 and 462. Fourth-year honors students participate for a second time in the seminar by presenting their completed research projects and by serving as resource persons for other honors students.
GPA units: 0.5
Typically Offered: Annually
ECON 462 — Economics Honors Directed Research Course count: 1
Honors students undertake a research project under the direction of a department faculty member. The results are presented in the form of a thesis. Counts toward the major as the equivalent of a 300 level economics elective.
Prerequisite: ECON 460
GPA units: 1
Typically Offered: Annually
Accounting (ACCT)
ACCT 160 — Sustainability and Citizenship Course count: 1
This course will examine what it means to practice good organizational citizenship and how the introduction of sustainable practices can create value. We will explore how organizations make sound ethical decisions and how these decisions can bring about positive changes to address social and environmental concerns. The recognition of the need to be fiscally responsible and balance profit against these other factors including risk to achieve sustainable future growth will be discussed. The use of outside readings, real-world examples and a project with a sustainability focus will put the course material into practice.
Enrollment limited to NON-Accounting majors only
GPA units: 1
Typically Offered: Alternate Years
ACCT 181 — Financial Accounting Course count: 1
Introduces the fundamentals of the accounting process. Presents an overview of the accounting cycle, leading to preparation of basic financial statements including the income statement and balance sheet. Examines the proper accounting treatment of the major assets of merchandising and service companies including cash, accounts receivable, inventory, property, plant and equipment. Also includes an examination of economic activity related to liabilities and stockholders' equity. Introduces the cash flow statement and analysis of basic financial statements.
GPA units: 1
Typically Offered: Fall, Spring
ACCT 185 — Excel Accounting Lab Course count: 0
Offers an opportunity to use Excel spreadsheet tools to explore financial statements, build financial models, value transactions and evaluate economic opportunities. Provides additional development of the quantitative reasoning and technical skills introduced in the financial accounting coursework. Overload.
GPA units: 0.25
Typically Offered: Spring
ACCT 226 — Operations Research Course count: 1
Acquaints students with decision-making and application of mathematical and statistical techniques to economic problems. Emphasizes optimization of an objective, subject to constraints upon available action. Linear optimization models are treated in depth.
GPA units: 1
Typically Offered: Alternate Years
ACCT 270 — Governmental & Nonprofit Acctg Course count: 1
Studies accounting and management issues pertinent to state and local government, voluntary health and welfare organizations, other nonprofit organizations, colleges and universities, and private nonprofit hospitals.
Prerequisite: ACCT 277
GPA units: 1
Typically Offered: Alternate Years
ACCT 275 — Corporation Finance Course count: 1
Provides an overview of two important questions posed to corporate financial managers: 1) what long-term investments should the company make? and 2) how will the company finance those investments? Topics include: stock and bond valuation, financial markets, risk and return, project analysis, capital, dividends and leverage.
GPA units: 1
Typically Offered: Annually
ACCT 277 — Intermediate Accounting 1 Course count: 1
Offers a thorough study of the proper valuation of assets, liabilities and stockholders' equity and the related problems of the proper matching of revenues and expenses. Emphasis is given to the preparation, analysis and interpretation of financial statements.
Prerequisite: ACCT 181
GPA units: 1
Typically Offered: Annually
ACCT 278 — Intermediate Accounting 2 Course count: 1
Offers a thorough study of the proper valuation of assets, liabilities and stockholders' equity and the related problems of the proper matching of revenues and expenses. Emphasis is given to the preparation, analysis and interpretation of financial statements.
Prerequisite: ACCT 277
GPA units: 1.25
Typically Offered: Annually
ACCT 285 — Accounting Information Systems Course count: 1
Introduces students to the theory and terminology of information systems, investigates internal controls, security, privacy and ethics in the design, development and usage of information systems and provides students with tools to document and assess existing information systems. Also provides practical experience using database software.
Prerequisite: ACCT 277
GPA units: 1
Typically Offered: Annually
ACCT 286 — Data Analytics Course count: 1
This course introduces students to understanding when and how data analytics can address specific organizational questions. In addition, it provides the foundation to understand the impact of data quality, the need for data manipulation and analysis and the reporting of results to key decision makers using industry standard data visualization tools.
Prerequisite: ACCT 277
GPA units: 1
Typically Offered: Annually
ACCT 292 — Federal Income Taxation Course count: 1
A study of the federal income tax laws as they relate primarily to individuals. Consideration is also given to the history of the federal income tax, various proposals for tax reform, the use of tax policy to achieve economic and social objectives and tax planning.
Prerequisite: ACCT 277
GPA units: 1
Typically Offered: Annually
ACCT 360 — Ethics, Acctg & Organizations Course count: 1
The course examines topics of current interest in organizational and professional ethics with particular attention focused on accountancy. The role of moral philosophy from the perspective of multiple ethical frameworks is discussed in terms of individual and public debates about controversial issues, such as the professional obligation, the responsibilities of individuals in government and corporations, and the role of the corporation as a "legal person." The goal of the course is to help students think, speak, and write clearly in the form of organizational and professional ethics.
Prerequisite: ACCT 277
GPA units: 1
Typically Offered: Annually
ACCT 362 — Taxation of Entities Course count: 1
A study of the federal tax laws as they apply to C Corporations, S Corporations, Partnerships, Trusts and Estates, both planning for and executing business transactions and decisions.
Prerequisite: ACCT 292
GPA units: 1
Typically Offered: Alternate Years
ACCT 382 — Auditing Course count: 1
Considers the theory and practice of auditing, including professional ethics, professional standards and procedures and the legal environment in which the auditor functions. Emphasis is placed on the audit process as students gain an understanding of how to plan, design and execute an audit. Other topics include internal control, the nature of evidential matter and the auditors reporting responsibilities.
Prerequisite: ACCT 277
GPA units: 1
Typically Offered: Annually
ACCT 387 — Business Law Course count: 1
(Based on the Uniform Commercial Code) Includes contracts, agency, sales, negotiable instruments, the legal aspect of business associations, insurance and property, both real and personal.
Prerequisite: ACCT 277
GPA units: 1
Typically Offered: Annually
ACCT 389 — Cost Accounting Course count: 1
This course covers the use of accounting information for organizational decision making. It focuses on the use of managerial accounting, with discussions of costing methods, cost control and analysis, and budgeting.
Prerequisite: ACCT 277
GPA units: 1
Typically Offered: Annually
ACCT 390 — Advanced Accounting Course count: 1
Covers advanced problems relating to partnership formation, operation and liquidation; a study of corporate business combinations and consolidated financial statements under the acquisition method; and other accounting topics such as accounting for derivatives and foreign currency transactions, consolidation of foreign subsidiaries and segment reporting.
Prerequisite: ACCT 278. Enrollment limited to 3rd and 4th year ACCT majors.
GPA units: 1
Typically Offered: Annually
ACCT 400 — Directed Reading Course count: 1
A program in reading and research in a specific topic open to majors with a minimum GPA of 3.25.
GPA units: 1
Typically Offered: Annually
ACCT 401 — Directed Readings Lab Course count: 0
GPA units: 0.25
Typically Offered: Annually