4960: Topics in Political Economy

ECON 4960 Topics in Political Economy

Spring 2024

Syllabus

Instructors: Prof. Aldo Rustichini in the first half and Prof. David Rahman in the second half.

Prerequisites:  ECON 3101, 3102, MATH 1271 [or equiv courses]

Course Description:

This course aims to address pressing political issues that are capturing the country’s attention nowadays, using the theoretical tools and quantitative methods of economics, emphasizing discrimination, polarization, inequality, social justice, and reparations. The aim of this course is not to teach an established point of view, or to report the views that are readily available in the news, but to present and discuss ways of approaching these difficult and often controversial issues with scientific methods that are informed by theoretical models and data analysis. Students are encouraged to form their own opinions and discuss them respectfully.

Delivery mode: In Person

Meeting time: Mondays and Wednesdays at 9:45 - 11:00 am

Office hours: Online (TBA) 

Communication:

All the information related to this course can be found on Canvas. We will post problem sets, study materials, additional readings, and announcements on Canvas. You are responsible for turning your Canvas notifications on to receive course information. We can be reached via the university email dmr@umn.edu/arust@econ.umn.du or through the Canvas mailbox. The emails will be responded to within 24/48 hours, but please remember to put ECON 4960 in the subject line.

Resources: There is no required textbook for the class. Selected theorems and papers to be announced will be discussed.

List of topics:

1.     Models of social learning WEEK 1&2

2.     Basic technical elements of behavioral genetics (Knopik et al) WEEK 3

3.     Economic analysis of discrimination; theories of statistical discrimination (Arrow, Phelps, Coate&Loury), WEEK 4&5

4.     Analysis of political equilibria: Condorcet paradox, median voter WEEK 6

5.     Empirical evidence of systemic racism WEEK 7

6.     Reparations WEEK 8

7.     Affirmative action (Coate and Loury) WEEK 9

8.     Inequality and the American Dream WEEK 10

9.     Income inequality and taxation (Mirrlees) WEEK 11

10.  The rise of market power WEEK 12

11.  Voting, media, and polarization WEEK 13

12.  Conflict, arms races, and reasons for war WEEK 14

Student Learning Outcomes:

·      Students will identify, define, and solve problems related to important social issues such as inequality, social justice, etc. through theoretical and quantitative tools established in class.

·      Students are expected to locate and critically evaluate information while completing their assignments.

·      Students are expected to master a body of knowledge and a mode of inquiry through the presentation of different perspectives on important social and political issues.

·      Students understand diverse philosophies and cultures within and across societies with different points of view provided in the lectures.

·      Students can communicate effectively through discussions in the lectures and written homework assignments.

·      Students will acquire skills for effective citizenship through comprehensive analysis of social issues; and life-long learning after gaining rigorous economic tools.

·       

Course requirements and grading policy:

The final grade will be based on 3-4 problem sets (25%), one writing assignment (15%), one midterm (25%), and a final exam (35%).

Problem Sets (25%)

There will be four problem sets. The problem sets will be similar to the models covered in class. You may work in groups. However, each group member must submit their own assignment and make sure the names of all group members are on the first page of the assignment. All homework assignments must be turned in on Canvas as a PDF file on the appropriate due date. Late submissions will be subject to 5% penalty points per day of delay.

Writing assignment (15%)

You are expected to write a 3–5-page long research essay on topics related to the ones covered in class. It should be typed. The ideas should be presented and supported through models and/or data.

Exams

There will be one midterm exam (25%) and one final exam (35%). All exams are closed books and closed notes.

The final exam is scheduled for TBD.  The final exam is cumulative and covers all the material in the course. According to University policy, you may request a make-up only if you have:

·   Documentation of a family or medical emergency,

·   Another test scheduled at the same time, or

·   Three exams within a 16-hour period.

If you have any of the last two complications, make sure you talk to me at least three weeks before the exam date. We will arrange a different date for your exam. Written justification for emergencies described in the first point must be provided to me to take the make-up exam.

I reserve the right to lower the grading scale cut-off points for final grades (i.e., increase the letter grades for some percentages close to the cut-off), but I will not raise the cut-offs. Grade curves, if given, will be decided with the Economics Director of Undergraduate Studies at the end of the semester, per department policy.

Grade Disputes

Any dispute regarding a grade must be submitted in writing (such as via the Canvas Inbox or by

email) within 72 hours of when the grade is posted. You must provide a clear rationale for why you believe that your grade is incorrect.

APPROPRIATE USE OF COURSE MATERIALS

Sharing course materials with anyone outside the class is a violation of intellectual property per

Item 6 of the U of M policy on student responsibilities. Please do not share any course material with anyone else.

TECHNOLOGY REQUIREMENTS

If your personal computer does not have the necessary capabilities to complete the activities and assignments for this course, or if you experience difficulties with your internet connection, you may find this link helpful: UMN IT help site. The Information Technology Page Working and Learning Off Campus is for students who need help with technology issues. For tips and information about Canvas visit the Canvas Student Guide.

INSTRUCTIONAL TIME AND STUDENT EFFORT

For undergraduate courses, one credit is defined as equivalent to three hours of additional work per week for the course, for students to achieve an average grade. This implies that you should put in at least 6 additional hours per week on this course, along with attending class.

DEPARTMENT OF ECONOMICS

PROCEDURES AND POLICIES  2023-24

CLASS ASSIGNMENTS:

Written answers to homework assignments must be typed; Graphs and numerical work need not be typed but should be legible.

COURSE PREREQUISITES:

Students are expected to have successfully completed all prerequisites prior to taking an Economics course.

STUDENTS WITH DISABILITIES:

Reasonable accommodation will be provided for all students with documented disabilities (by the DRC). Contact the instructor at the beginning of the semester to work out details. This information will be kept confidential.

STUDENT MENTAL HEALTH AND STUDENT COUNSELING SERVICES:

As a student you may experience a range of issues that can cause barriers to learn, such as strained relationships, increased anxiety, alcohol/drug problems, difficulty concentrating and/or lack of motivation. These mental health concerns or stressful events may lead to diminished academic performance or reduce a student's ability to participate in daily activities. University of Minnesota services are available to assist you with addressing these and other concerns. Information about confidential mental health services is available at: https://boynton.umn.edu/clinics/mental-health. Student Counseling Services website: https://counseling.umn.edu/

SEXUAL MISCONDUCT

Sexual misconduct (sexual harassment, sexual assault, stalking, and relationship violence) includes unwelcome sexual advances, requests for sexual favors, and/or other verbal or physical conduct of a sexual nature. Such behavior is prohibited in the University setting.

Per the U of M policy on sexual harassment, I am required to share information that I learn about possible sexual misconduct with the campus Title IX office. Within the requirements of my job, I will be as responsive as possible to your requests for confidentiality and support. You can also, or alternately, choose to talk with a confidential resource that will not share information that they learn about sexual misconduct. Confidential resources include The Aurora Center, Boynton Mental Health, and Student Counseling Services.

DROPPING A CLASS:

Termination of attendance alone is not sufficient to drop a class. You must notify the Registrar’s office. Please contact your academic (college) adviser for details on this process and pay attention to the University deadlines for add/drop.

INCOMPLETE GRADE:

Low class standing is not a valid reason for an Incomplete grade. An I is given only in exceptional circumstances like family emergencies or hospitalization; arrangements must be worked out between the student and instructor before the final exam. We require written proof of emergencies. Details about I grade and how to make it up are to be decided by the instructor and student; you need to fill out the form.

MAKE-UP EXAMS:

Make-up exams are possible for the final exam only if the student has another exam scheduled at the same time or has three exams within a 16-hour period. This should be pre-arranged with the instructor at least three weeks before the final exam. Make-up final exams may also be possible for documented medical emergencies.

SCHOLASTIC DISHONESTY:

"The College of Liberal Arts defines scholastic dishonesty broadly as any act by a student that misrepresents the student's own academic work or that compromises the academic work of another. Examples include cheating on assignments or exams, plagiarizing (misrepresenting as one's own anything done by another), unauthorized collaboration on assignments or exams, or sabotaging another student's work".

The University Student Conduct Code defines scholastic dishonesty as “Submission of false records of academic achievement; cheating on assignments or examinations; plagiarizing; altering, forging, or misusing a university academic record; taking, acquiring, or using text materials without faculty permission; acting alone or in cooperation with another to falsify records or to obtain dishonestly grades, honors, awards, or professional endorsement.”

Penalties for scholastic dishonesty of any kind in any course will entail an "F" for the assignment/exam or the course.

Website for information on Student Academic Misconduct -- https://communitystandards.umn.edu/avoid-violations/avoiding-scholastic-dishonesty

STUDENT CONDUCT AND CLASSROOM BEHAVIOR:

Students are expected to contribute to a calm, productive, and learning environment. Check the Student Conduct Code to find out what is expected of you. 

https://regents.umn.edu/sites/regents.umn.edu/files/2019-09/policy_student_conduct_code.pdf 

STUDY ABROAD IN ECONOMICS:

The Department encourages you to undertake Study Abroad. There are many courses in foreign countries that can satisfy some economics major, minor, or Liberal Education requirements. For more information, please contact our Undergraduate Advisers, Ms. Annie Bigley and Ms. Tiffany Kroeze Murphy, or the University’s Learning Abroad Center at http://www.umabroad.umn.edu/.

UNDERGRADUATE ADVISERS:

Contact the Undergraduate Advisers if you wish to sign up for an Economics major or minor or to get information about institutions of higher study. Your APAS form will list your progress toward an Economics degree. 

Adviser: Ms. Tiffany Kroeze Murphy and Ms. Annie Bigley (econadv@umn.edu); Sign up for appointments at  econ.appointments.umn.edu          

ECONOMICS UNDERGRADUATE PROGRAM INFORMATION:

Available on the Internet at:  https://cla.umn.edu/economics/undergraduate.  Registration policies are listed in the University Course Schedules and College Bulletins.

COMPLAINTS OR CONCERNS ABOUT COURSES:

All course grades are subject to department review.

Please contact your instructor or TA if you have any complaints/concerns about the course. If your concerns are not resolved after talking with your instructor, you can contact Dr. Ayca Ozdogan, Director of Undergraduate Studies.  Her e-mail is: ozdog002@umn.edu

STATEMENT ON FERPA (Family Education Rights and Privacy Act) :

In this class, our use of technology will sometimes make students' names and U of M Internet IDs visible within the course website, but only to other students in the same class. Since we are using a secure, password-protected course website, this will not increase the risk of identity theft or spamming for anyone in the class. If you have concerns about the visibility of your Internet ID, please contact me for further information.

DEPARTMENT OF ECONOMICS POLICY ON AI:

Artificial intelligence (AI) language models, such as ChatGPT, and online assignment help tools, such as Chegg®, are examples of online learning support platforms: they cannot be used for course assignments or exams. The following actions are prohibited in economics course:

• Submitting all or any part of an assignment/paper/exam statement from an online learning support platform.

• Incorporating any part of an AI-generated response in an assignment.

• Using AI to brainstorm, formulate arguments, or template ideas for assignments.

• Using AI to summarize or contextualize source materials.

• Submitting your own work for this class to an online learning support platform for iteration or improvement.

If you are in doubt as to whether you are using an online learning support platform appropriately in this course, please discuss your situation with the instructor.

Any assignment content composed by any resource other than you, regardless of whether that resource is human or digital, must be attributed to the source through proper citation. (Examples of citing content composed by digital tools are presented in: libguides.umn.edu/ChatGPT or provide an alternative reference appropriate for your class].)

Unattributed use of online learning support platforms and unauthorized sharing of instructional property are forms of scholastic dishonesty and will be treated as such. Students may receive a score of zero if unauthorized AI tools are used in any assignment or exam that is graded.