Economics
Kimberly Clausing
International trade, international macroeconomics, public sector 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.
Jeffrey A. Parker
Macroeconomic theory, monetary and fiscal policy, growth and technology, economics of higher education.
James I. Stewart
Economic history, institutions. On leave 2005-06.
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 non-specialists
with the understanding necessary to explain economic phenomena and
to evaluate economic policy alternatives.
The introductory course (Economics 201) includes coverage of both
macro and micro 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 Economics 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 non-major taking economics to fulfill distribution or divisional
requirements would take Economics 201 (open to all students without
prerequisite) and one additional course chosen according to his or
her interests. Students considering a major in economics are
advised to take Economics 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 (Economics 313 and 314) and statistics and
econometrics (Economics 311 or 312), as well as a selection of
elective courses. 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. An
interdisciplinary major in mathematics-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, private, or
nonprofit career paths.
Requirements for the Major
1. Economics 201.
2. Economics 311 or 312.
3. Economics 313, 314, and 470.
4. Four additional units in economics (at least three of which must
be upper division) to make a total of 10 units of economics
coursework.
5. Although there is no formal mathematics requirement, Mathematics
111 or equivalent background in differential calculus is a
prerequisite for Economics 313 and 314, the required courses in
microeconomic and macroeconomic theory. Students intending to do
graduate work in economics should take Economics 312 and as much
mathematics as possible. Mathematics 111, 112, 141, 211, 212, 322,
and 331 are especially useful. Such students may wish to consider
the interdisciplinary major in mathematics and economics.
