Carolyn Craven
Office
75 Shannon 101-V
Tel
(802) 443-3232
Email
ccraven@middlebury.edu
Office Hours
Mondays 1:00 - 3:00 PM; Wednesdays 10:00 AM - 12:00 PM

Carolyn Craven studied Political Economy at Williams College, graduating magna cum laude in 1979, and received her Ph.D. in Economics from Yale University in 1991. Her thesis Structural Theories of Inflation and the Case of Uruguay was written under Carlos Diaz-Alejandro and Gustav Ranis. She received grants from Yale University for dissertation research in Uruguay and Argentina. She taught Principles courses and a seminar on Latin American development while at Yale, and won the Ray Powell Award for excellence in teaching.



From 1988 to 1995 she taught at Franklin & Marshall College, including courses in macroeconomics, Latin American development, and international economics. During that period she published articles on the Latin American history of economic thought and on inflation in Uruguay, and during a sabbatical leave returned to Uruguay for research in a women’s textile cooperative in Uruguay.

In 1995 she moved to Middlebury with newborn twins and her husband, Peter Matthews, who was starting a job in the economics department. She has been teaching part-time at Middlebury since 1999. When circumstances allow, she writes fiction.

Courses Taught

Course Description

Introductory Macroeconomics
An introduction to macroeconomics: a consideration of macroeconomic problems such as unemployment and inflation. Theories and policy proposals of Keynesian and classical economists are contrasted. Topics considered include: banking, financial institutions, monetary policy, taxation, government spending, fiscal policy, tradeoffs between inflation and unemployment in both the short run and the long run, and wage-price spirals. 3 hrs. lect.

Terms Taught

Fall 2019, Spring 2020, Fall 2020, Fall 2021, Spring 2022, Fall 2022, Spring 2023

Requirements

SOC

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Course Description

Economics of Happiness
We will explore the economics of happiness in both the micro and macro realm. We start with the neoclassical model of rational individuals who know with great precision what makes them happy. Next we explore behaviorist challenges to that model, including issues of regret, altruism, fairness, and gender. On the macro side, we investigate the puzzle of why, though most of us like more income, a growing GDP does not seem to make societies happier; we examine the impact of the macroeconomic environment on individual happiness. Finally we touch on current policy issues such as quantitative happiness indicators that have been adopted around the world, “paternalistic” policy measures to increase happiness, and the no-growth movement. (ECON 0150 or ECON 0155) 3 hrs. lect.

Terms Taught

Spring 2020, Spring 2021, Spring 2023

Requirements

SOC

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Course Description

International Economics: Theory and Policy
This course provides an overview of international trade and finance. We will use economic theory to help us understand how and why countries interact in the global economy and evaluate the effects of different trade, exchange rate, and macroeconomic policies. Topics covered will include the reasons for trade, the winners and losers from trade, trade policies, trade agreements, exchange rates, the balance of payments, causes of and solutions to financial crises, and the role of the WTO and IMF. ECON 0240 does not count towards the ECON major or minor requirements. (ECON 0150 and ECON 0155) 3 hrs. lect.

Terms Taught

Spring 2021

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Course Description

Individual Special Project
If you choose to pursue an area that we do not offer or go in depth in an area already covered, we recommend the Individual Special Project option. These ECON 0500 proposals MUST be passed by the entire department and are to be submitted to the chair by the first Friday of fall and spring semester, respectively. The proposals should contain a specific description of the course contents, its goals, and the mechanisms by which goals are to be realized. It should also include a bibliography. According to the College Handbook, ECON 0500 projects are a privilege open to those students with advanced preparation and superior records in their fields. A student needs to have a 3.5 or higher G.P.A. in Economics courses taken at Middlebury in order to pursue an Individual Special Project. ECON 0500 does not count towards the major or minor requirements.

Terms Taught

Fall 2019, Winter 2020, Spring 2020, Fall 2020, Winter 2021, Spring 2021, Fall 2021, Winter 2022, Spring 2022, Fall 2022, Winter 2023, Spring 2023

View in Course Catalog

Course Description

International Economics: Theory and Policy
This course provides an overview of international trade and finance. We will use economic theory to help us understand how and why countries interact in the global economy and evaluate the effects of different trade, exchange rate, and macroeconomic policies. Topics covered will include the reasons for trade, the winners and losers from trade, trade policies, trade agreements, exchange rates, the balance of payments, causes of and solutions to financial crises, and the role of the WTO and IMF. IPEC 0240 does not count towards the ECON major or minor requirements. (ECON 0150 and ECON 0155) (formerly ECON 0240) 3 hrs. lect.

Terms Taught

Spring 2022

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Course Description

Senior Thesis
(Approval Required)

Terms Taught

Winter 2020, Spring 2020, Winter 2021, Spring 2021, Winter 2022, Spring 2022, Winter 2023, Spring 2023, Winter 2024, Spring 2024

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