An Li

This course focuses on the intersection of economic development and environmental and natural-resource management. We will focus on the unique environmental and natural-resource challenges faced by developing countries and seek to understand how economic-development goals can be achieved without sacrificing the economic and environmental well-being of future generations. We will bring together relevant theoretical and empirical insights obtained from environmental economics, ecological economics, political economy, and development studies. A sample of questions to be addressed in the course includes how the relationship between economic growth, demographic change and environmental pollution has evolved; how globalization distributes and redistributes environmental benefits and costs between the Global South and Global North; whether a Global Green New Deal can address both environmental sustainability and economic development; why developing countries suffer from the natural-resource curse; what local communities in developing countries can teach us about sustainable resource management; what property-right regimes work for sustainable development; and what renewable energy policies work for developing countries; etc.

Environmental pollution and climate change disproportionately impact people who are economically and politically powerless. Evidence shows that low-income and minority communities and people in the Global South tend to face higher levels of environmental pollution, have less protection from environmental and natural hazards, and suffer more losses caused by climate change. In this FYS, we will focus on the what, why, how, and what to do. What are the facts of environmental and climate injustice in developing countries, developed countries, and between developing and developed countries? Why is environmental and climate injustice happening? Why is focusing on climate and environmental justice important? How do the climate and environmental justice paradigms challenge the social, political, economic, and cultural structures of capitalism; for instance, corporate and elite environmentalism? How have corporations and governments responded to environmental and climate justice quests? Has the energy transition been fulfilling its promises? What remains to be done to make environmental and climate justice real? Along with discussing these pressing questions, the course will attempt to help you get familiar with and improve your skills that are essential for conducting independent research, analytical thinking and writing, and critical inquiry. This FYS will entail biweekly conference meetings, alternating with in-class, evidence-based group activities focusing on research and critical thinking.

Evidence-based empirical research is an essential tool for an economist’s toolbox, allowing economists to better understand people’s behaviors; to discover underlying mechanisms of some major economic events or phenomena; and, most importantly, to critically examine many foundational economic theories. For instance: Standard economic theories tell us that raising the minimum wage will increase unemployment, but more and more empirical research has been showing us that such an effect is not supported by empirical evidence. Economic theories also tell us that tightening a country’s environmental policies will motivate the country’s businesses to outsource and relocate abroad and cause job loss, yet empirical research had failed to find clear evidence for that. This course will introduce you to the basics of conducting empirical economic research. Empirical research also has been used to support the making of public policies in areas such as health, education, urban and rural development, environment and climate change, food, etc. We will learn about formulating a research question; finding and critically evaluating relevant economics literature; developing a research proposal; finding and processing relevant economic data; analyzing data using appropriate quantitative techniques; clearly and meaningfully presenting, summarizing, and explaining the findings; writing a paper; and preparing a presentation. You will organize and complete a conference research project in stages.

Data play a crucial role in today’s society. Most importantly, data are used to guide the making of policies meant to address various social and political issues, such as climate change, inequality, international trade conflicts, environmental degradation, resource depletion, etc. On a macro level, data are used to guide investment decisions that have significant consequences for economic stability in the short run and people's economic welfare in the long run. In this course, we will use representative datasets to examine crucial social and political issues. The course will adopt an integrated learning approach. You will have the opportunity to engage with the materials through hands-on problem-solving and fact-finding exercises. Findings from these exercises will become the foundation of in-class discussions. You do not need any prior experience or skill in data analysis. Math requirement is on the level of basic algebra and graphing. The only requirement: Stay curious and be critical!

Environmental injustice is both an outcome and a process. As an outcome, environmental injustice is the unequal distribution of environmental burdens (or benefits) in a society. As a process, environmental injustice is the history and institutions that project political, economic, and social inequalities into the environmental sphere. In this course, we will focus on our immediate community: Yonkers, NY. We will first measure the disproportionate environmental burdens in the city’s low-income and minority neighborhoods. Then, we will utilize economics to examine the causal mechanisms of environmental injustice. We will focus on the evolution of the housing market, the changing demographics of Yonkers, the location choice of major pollution sources, and zoning policies. We will draw knowledge from multiple fields—economics, politics, sociology, geography, etc. We will examine the issue using multiple methodologies and assess different policy options for improving environmental and climate justice in Yonkers. There will be service-learning opportunities at local community organizations.

We frequently observe that the burden of environmental harms and/or the benefit of environmental protection are unequally distributed in a society. Within a nation, the underrepresented households, such as minorities in the United States, bear a disproportionate burden. Globally, under the neoliberal regime, trade and financial lateralization have made it easier to transfer highly polluting economic activities to the Third World. Moreover, the capitalist development in the Third World has increasingly deprived the rural communities and the urban poor of their environmental rights. This course examines ways in which environmental injustices may arise and affect different people with different power in different places. We will draw knowledge from multiple fields, such as economics, political science, sociology, environmental studies, geography, etc. We will examine the issue using multiple methodologies and assess different policy options.

Since the 19th century, generations of economists have understood the importance of the environment and natural resources. John Stuart Mill, a classical economist, argued: “Is there not the Earth itself, its forests and waters, and all other natural riches, above and below the surface? These are the inheritance of the human race, and there must be regulations for the common enjoyment of it....No function of government is less optional than the regulation of these things, or more completely involved in the idea of civilized society.” What property-right regimes are proper for solving the “problem of the social cost”? Is privatization the only solution, as the market fundamentalist economists have argued? Why do developing countries have higher pollution levels? Are pollution activities migrating to developing countries? In Donora, Pennsylvania, “smoke ran like water” in the 1940s and led to deaths and impaired health. But in most places in the developed world, environmental quality has improved significantly in the past decades. How can we explain such changes? What are the most efficient ways to deal with pollution? Environmental degradation is far from being over in developed countries. Who is being impacted more by pollution? Why do certain population groups tend to suffer more from environmental harms? Scientists provide ample evidence that the current economic path is unsustainable, and serious policies are needed to deal with the challenge. But the policies are seriously inadequate. Why? What political economy factors are determining the environmental policies? In this course, we will apply economics principles to understand how societies use and misuse the environment and natural resources.

Since the 19th century, generations of economists have analyzed the role of environment and natural resources in society and the economy. John Stuart Mill, a classical economist, argued: “Is there not the Earth itself, its forests and waters, and all other natural riches, above and below the surface? These are the inheritance of the human race, and there must be regulations for the common enjoyment of it....No function of government is less optional than the regulation of these things, or more completely involved in the idea of civilized society.” What property-right regimes are proper for solving the “problem of the social cost”? Is privatization the only solution, as the market fundamentalist economists have argued? Why do developing countries have higher pollution levels? Are pollution activities migrating to developing countries? In most places in the developed world, environmental quality has improved significantly in the past decades. How can we explain such progress? Should efficiency be the top concern in protecting the environment? How can we incorporate equity and justice in environmental decision-making? What political-economy factors are determining environmental policies? What do we mean by “sustainability”? By the end of the seminar, you will be able to apply theories of environmental economics and ecological economics to real-world problems, conduct independent research in environmental and ecological economics, and form policy proposals.

Today’s world is facing multiple economic, social, environmental, and political challenges: increasing income and wealth inequality, growing economic uncertainty, unstopping climate change, artificial intelligence and robotic automation of the workplace, political polarization, growing nationalism and populism, and diverging quality of life between the developed world and the majority of the developing world, to name a few. The challenging world requires every one of us to act as more responsible citizens. Using the economics literature, we will learn: Why do the challenges exist? What is our role in the community and in the bigger economic and political world? How can we transcend the “contemplation of single individuals and of civil society” and take the standpoint of “human society” or “social humanity”? In addition, through in-class practices, discussions, assignments, conference meetings, and conference work, we will work together to prepare you for academic achievement. You will enhance your academic skills, such as finding and reading academic literature, writing literature review, thinking critically, making your own argument with quantitative or qualitative evidence, and formatting a conference paper. Most importantly, you will grow professionally and prepare yourself to be a responsible citizen. During the fall semester, you will meet with me weekly for individual conferences. In the spring semester, we will meet weekly or every other week, depending on your needs and the progress of your conference projects.

Keynes not only revolutionized economic theory in 1937 but also led generations of economists to believe that the government should play an active role in managing a country’s aggregate demand. Yet, since the 1980s, the theoretical and policy world of mainstream economics took a great U-turn and, once again, embraced the fundamental role of the free market. In macroeconomics, this is reflected by the pursuit of goals such as fiscal austerity, balanced budget, financial deregulation, and liberalization of international finance. In this course, we will examine the fundamental debates in macroeconomic theory and policy making. The standard analytical framework of aggregate demand, aggregate supply, labor market, inflation, exchange rate, and economic growth will be used as our entry point of analysis. On top of that, we will examine multiple theoretical and empirical perspectives on money, credit and financial markets, consumption, investment, governmental spending, unemployment, international finance, growth and distribution, economic crisis, technological change, and long waves of capitalist societies. More recent progressive theories and policies will be discussed, such as universal basic income and job guarantee, modern monetary theory, etc.

Keynes not only revolutionized economic theory in 1937 but also led generations of economists to believe that the government should play an active role in managing a country’s aggregate demand. Yet, since the 1980s, the theoretical and policy world of mainstream economics took a great U-turn and, once again, embraced the fundamental role of the free market. In macroeconomics, this is reflected by the pursuit of goals such as fiscal austerity, a balanced budget, financial deregulation, and liberalization of international finance. In this course, we will examine the fundamental debates in macroeconomic theory and policymaking. The standard analytical framework of aggregate demand, aggregate supply, labor market, inflation, exchange rate, and economic growth will be used as our entry point of analysis. On top of that, we will examine multiple theoretical and empirical perspectives on money, credit and financial markets, consumption, investment, governmental spending, unemployment, international finance, growth and distribution, economic crisis, technological change, and long waves of capitalist societies. More recent progressive theories and policies will be discussed, such as universal basic income and job guarantee, modern monetary theory, etc.

Economics was born in the 18th century, around the same time as capitalism emerged in Europe. Since then, economists have sought to understand the ways in which people allocate, produce, exchange, and distribute things in capitalist societies and how such activities impact people’s well-being. For the most part of the 20th century, microeconomics centered on the “efficiency” of the free market. Since the late 20th century, contending paradigms in microeconomics have successfully challenged the narrow definition of “efficiency” and broadened the scope of analysis from free market to a variety of institutions in which the market is either unfree or absent. In this course, we will examine fundamental questions, such as: What are the incentives of individual decision-making under different circumstances? How do individuals make decisions? What are the social consequences of individual decision-making? We will not only learn about traditional issues such as how individual consumers and firms make decisions and the welfare properties of the market but also will examine how individuals interact with each other, the power relationship between individuals, the power relationship of the labor market and the credit market and inside the firms, the situations where individuals care about other than their self-interests, the successful and unsuccessful coordination of individuals, and the institutional solutions for improving social welfare.

Economics has a profound impact on all of our lives, from where we live and go to school to what we do for a living, what we eat, and how we entertain ourselves. Economics is also crucially intertwined with the social and political issues that we care about, from global climate change to poverty and discrimination. In this course, we will examine the role of economics and economists in a range of key policy issues, such as money, taxation, governmental spending, finance, international trade, antitrust, labor market, education, environment protection, and climate change. We will focus on how economics has been used and, perhaps more importantly, misused in these policy issues. We begin this course with a brief history of the United States and the global economy. We then introduce a variety of approaches to economic analysis, including neoclassical, Keynesian, behavioral, Marxian, and feminist. Finally, we’ll apply these contrasting theoretical perspectives to current economic issues and controversies. Requirements will include frequent, short writing assignments and participation in small-group projects.

Keynes not only revolutionized economic theory in 1937 but also led generations of economists to believe that the government should play an active role in managing a country’s aggregate demand. Yet, since the 1980s, the theoretical and policy world of mainstream economics took a great U-turn and, once again, embraced the free market. In macroeconomics, this is reflected by the pursuit of goals such as fiscal austerity, financial deregulation, and liberalization of international finance. In this course, we will examine the fundamental debates in macroeconomic theory and policy making. The standard analytical framework of GDP determination in the short run will be used as our entry point of analysis. On top of that, we will examine multiple theoretical and empirical perspectives on money, credit and financial markets, investment, governmental spending, unemployment, growth and distribution, crisis, technological change, and long swings of capitalist economies.

Economics was born in the 18th century, around the same time that capitalism emerged in Europe. Since then, economists have sought to understand the ways in which people allocate, produce, exchange, and distribute "resources" in capitalist societies and how such activities impact people’s welfare. For most of the 20th century, microeconomics focused on the “efficiency” of the unregulated market. Since the late 20th century, contending paradigms in microeconomics have successfully challenged the narrow definition of “efficiency” and broadened the scope of analysis from free market to a variety of institutions in which the market is either unfree or absent. The expansion of the analytical scope and tools has allowed microeconomics to provide answers to some of the most pressing social economic issues today: increasing wealth and income inequality, the challenge of artificial intelligence and robotic automation of the workplace, monopoly and monopsony power of big firms, climate change, etc. In this course, we will learn how microeconomists think with the tools of incentives, constraints, and outcomes. We will critically examine traditional issues, such as how individual consumers and firms make decisions and the welfare properties of the market. Using applied game theory, we will also examine how individuals interact with each other, the power relationship between individuals, the power relationship on the labor market and inside the firms, the situations in which individuals care about other than their self-interests, the successful and unsuccessful coordination of individuals, and the institutional solutions for improving social welfare.

What should monetary policies focus on? How should governments decide on taxation and fiscal spending? How do monetary policies and fiscal policies work? What factors impact income and employment in the short run and in the long run? Why are there economic and financial crises? Who is responsible for financial crises? What does modern finance do? Has the financial market grown too big? How big is too big? What’s the relationship between the economy and the environment? In this course, we will examine the fundamental debates in macroeconomic theory and policymaking. The standard analytical framework of GDP determination in the short run will be used as our entry point of analysis. On top of that, we will examine multiple theoretical and empirical perspectives on money, credit and financial markets, investment, governmental spending, unemployment, growth and distribution, crisis, technological change, and long swings of capitalist economies. For each topic, we will not only examine and discuss the theories but also use multiple in-class, hands-on activities to learn tangible, intuitive, and accessible methods for analyzing up-to-date economic data and simulating the macroeconomy in Excel or Google Sheets.

We frequently observe that the burden of environmental harms and/or the benefit of environmental protection are unequally distributed in a society. Within a nation, the underrepresented households, such as minorities in the United States, bear a disproportionate burden. Globally, under the neoliberal regime, trade and financial lateralization have made it easier to transfer highly polluting economic activities to the Third World. Moreover, the capitalist development in the Third World has increasingly deprived the rural communities and the urban poor of their environmental rights. This course examines ways in which environmental injustices may arise and affect different people with different power in different places. We will draw knowledge from multiple fields, such as economics, political science, sociology, environmental studies, geography, etc. We will examine the issue using multiple methodologies and assess different policy options.

Climate change caused by greenhouse gas emissions will be the number-one global threat of the 21st century. Global warming has caused destructive effects on the environment and on human society and has pushed our planet past the boundary within which humanity can safely operate. Scientists estimated that we had, at most, one generation in which we could take actions to prevent us from going beyond the point of no return. In 2016, parties to the Paris Agreement committed to a target of keeping the increase in global average temperature to well below 2°C above pre-industrial levels; however, by far, almost no major industrialized or industrializing countries are doing enough to meet the target. Drawing on economics and interdisciplinary materials, this seminar will provide a political economy analysis of global climate change. Have economists been playing a constructive role in climate-change policies? Can we price carbon? How are interest groups in the society promoting and blocking climate actions? How should we reform global institutions to promote climate actions? Who benefits from global economic activities that cause global warming, and who bears the costs? Why is climate change also rooted in the global history of racial discrimination and gender discrimination? By the end of this seminar, you will be able to form a holistic understanding of global climate change, conduct political-economy research on climate change, and make policy proposals.

Environmental injustice is both an outcome and a process. As an outcome, environmental injustice is the unequal distribution of environmental burdens (or benefits) in a society. As a process, environmental injustice is the history and institutions that project political, economic, and social inequalities into the environmental sphere. In this course, we will discuss the broad environmental justice literature and connect it with our immediate community: Yonkers, NY. We will first measure the disproportionate environmental burdens in the city’s low-income and minority neighborhoods. Then, we will utilize economics to examine the causal mechanisms of environmental injustice. We will focus on the evolution of the housing market, the changing demographics of Yonkers, the location choice of major pollution sources, political representation and power, exclusionary and expulsive zoning policies, etc. We will draw knowledge from multiple fields—economics, politics, sociology, geography, etc. We will examine the issue using multiple methodologies and assess different policy options for improving environmental and climate justice in Yonkers. We will also examine the policy implications of each environmental injustice issue. For each topic/issue, we will have in-depth discussions based on the readings, followed by in-class collaborative research activities that produce qualitative and quantitative evidence of environmental injustice in Yonkers. To visualize environmental injustice, we will use a Geographic Information System (GIS) to make maps. You will then be asked to write about the issue in an assignment and discuss potential policy recommendations.