Fall 2012

• Econ 116- Intro to Economics                                                                                           Course Readings and Materials:
  

          Unit 1: Foundations of Economics
           -Roberts: "Opportunity Cost"
           -Smith: Wealth of Nations (Ch. 1)
           -Read: "I Pencil"

          Unit 2: The Market
          -Friedman: "The Role of Prices"
          -Munger: "They Clapped"
          -Bastiat: "Middlemen"
          -Maugham: "The Verger"

          Unit 3: Economic Growth
           -Schiff: "How an Economy Grows..."
           -Acemoglu and Robinson: Why Nations Fail (Ch. 1)
           -Burke: "Credit Where It's Due"

          Unit 4: Monetary Economics
           -Friedman: "The Cure for Inflation"

          Unit 5: Fiscal Policy
           -Hazlitt: "Public Works Mean Taxes"
           -Hazlitt: "Taxes Discourage Production"
           -Bastiat: "The Broken Window"

          Unit 6: Public Choice
           -Friedman: "The Fallacy of the Welfare State"
           -Parkinson: "The Rising Pyramid"
           -The Sugar Racket



          Unit 7: International Trade
           -Bastiat: "The Candlemakers' Petition"

• ECON 202-Principles of Macroeconomics

• ECON 441-Monetary Policy [Money and Banking]                                                                          Course Readings and Materials:

        Unit 1: Monetary Theory
         -Menger: "The Theory of Money" (Chapter 8, pp. 257-285)
         -Friedman: "The Mystery of Money"
         -Hume: "Of Money" (Part II, Chapter 3, pp. 317-332)

        Unit 2: US Monetary History
         -Carson: "The Constitution and Paper Money"
         -Endangered Specie (powerpoint file)
         -US Historical Inflation (excel file)

        Unit 3: Banking Theory
         -Selgin: "The Evolution of a Free Banking System"

        Unit 4: US Financial History
         -Dowd: "Early History of Banking in the USA"
         -Sechrest: "American Free Banking"
         -Timberlake: "Federal Reserve System"
         -Friedman: "Anatomy of a Crisis"
         -Ely: "Savings and Loan Crisis"

        Unit 5: Monetary Policy
         -Bagehot: "Lombard Street" (selections)
         -Friedman: "The Role of Monetary Policy"
         -White: "The Great Inflation and Monetarism"
         -Friedman: "Monetary Policy in a Fiat World"

        Unit 6: Monetary Control
         -Mishkin: The Economics of Money, Banking, and Financial Markets (selected chapters)

        Unit 7: Monetary Business Cycle Theory
         -Garrison: "Business Cycles: Austrian Approach"

        Unit 8: Subprime Crisis
         -Taylor: "Getting Back On Track"
         -Roberts: "Gambling With Other People's Money"
         -Kling: "Not What They Had in Mind"

• ECON 495-Fed Challenge