Princeton University Press Format Available: Economics has much to do with incentives--not least, incentives to work hard, to produce quality products, to study, to invest, and to save.
Economists study decision making and incentives, such as the incentives for a firm to stop polluting and how taxes create incentives for labor market and savings behavior. Many current public policy debates concern questions of economics.
What are the causes and consequences of inequality and gender and racial wage gaps? How should we address poverty? What caused the Great Recession and how can we predict future downturns?
These are some of the questions that economics can help answer. It can, however, provide a good background for several professions.
The economics major strengthens critical reasoning skills and gives students experience manipulating and analyzing data, a skill that will serve students well on the job market both inside and outside academia.
Many Yale students, regardless of what major they later choose, take introductory courses in economics. The department offers introductory courses in microeconomics, macroeconomics, and data analysis and econometrics. Microeconomics examines how individuals, firms, markets, and governments allocate scarce resources; macroeconomics studies growth, unemployment, inflation, and international economics; data analysis and econometrics teaches students to manipulate data in order to answer economic questions, as well as introduce statistical fundamentals.
The department advises prospective majors to take at least two of these introductory courses in their first year. The fall term of Introductory Macroeconomics is limited to upperclassmen.
Spaces in these courses are allocated by lottery. Students may enroll in ECON if they receive a departmental recommendation to do so in the summer prior to their first year. Some students already have a background in economics from high school.
However, in such cases an introductory microeconomics course is often still the best place to start.
The level of analysis in these courses greatly exceeds that in most high school courses. Some exceptions do apply. The department recommends that students with little or no calculus enroll in ECON Because of its emphasis on data analysis, the department advises even students with a statistical background to enroll in ECON Students who enroll directly in intermediate-level courses should note that placing out of introductory economics does not reduce the number of courses required for the Economics major.
Regardless of their mathematics background, all Economics majors must take one term course in mathematics at Yale. Students who place out of these courses must take a higher-level mathematics course at Yale, selected in consultation with the director of undergraduate studies DUS.
Intended for students with limited or no experience with calculus. Online preregistration is required; visit economics. Enrollment limited to first-years and sophomores.
The design and evaluation of public policy. Economic theory is applied to current events. Topics include the theory of choice, consumer and firm behavior, production, price determination in different market structures, welfare, and market failure.
After introductory microeconomics and completion of the mathematics requirement for the major or its equivalent. Elementary techniques from multivariate calculus are introduced and applied, but prior knowledge is not assumed.
Their implications for monetary and fiscal policy.Senior Essay. Potential Advisors for Senior Essays; Senior Essays Nominated for Prizes please contact the administrative assistant who maintains the event schedule or email the Department of Economics.
Upcoming Events of Note. Wednesday, April 3, the Samuel C. Park Jr.
Professor Emeritus of Economics at Yale and a leading. These 28 essays, covering Tobin’s work in macroeconomics from the early s to are grouped into three parts — macroeconomic theory, economic growth, and money and ﬁnance.
James Tobin is Sterling Professor of Economics at Yale. Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - Author: Yale University.
Dept. of Economics.
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