{"id":50680,"date":"2025-06-27T11:57:41","date_gmt":"2025-06-27T15:57:41","guid":{"rendered":"https:\/\/carleton.ca\/economics\/?page_id=50680"},"modified":"2025-07-10T14:43:40","modified_gmt":"2025-07-10T18:43:40","slug":"areas-of-research","status":"publish","type":"page","link":"https:\/\/carleton.ca\/economics\/areas-of-research\/","title":{"rendered":"Areas of Research"},"content":{"rendered":"\n<section class=\"w-screen px-6 cu-section cu-section--white ml-offset-center md:px-8 lg:px-14\">\n    <div class=\"space-y-6 cu-max-w-child-5xl  md:space-y-10 cu-prose-first-last\">\n\n            <div class=\"cu-textmedia flex flex-col lg:flex-row mx-auto gap-6 md:gap-10 my-6 md:my-12 first:mt-0 max-w-5xl\">\n        <div class=\"justify-start cu-textmedia-content cu-prose-first-last\" style=\"flex: 0 0 100%;\">\n            <header class=\"font-light prose-xl cu-pageheader md:prose-2xl cu-component-updated cu-prose-first-last\">\n                                    <h1 class=\"cu-prose-first-last font-semibold !mt-2 mb-4 md:mb-6 relative after:absolute after:h-px after:bottom-0 after:bg-cu-red after:left-px text-3xl md:text-4xl lg:text-5xl lg:leading-[3.5rem] pb-5 after:w-10 text-cu-black-700 not-prose\">\n                        Areas of Research\n                    <\/h1>\n                \n                                \n                                    \n\n<p>Our&nbsp;<a href=\"https:\/\/carleton.ca\/economics\/category\/research-and-awards\/\">award winning faculty<\/a>&nbsp;specialize in an array of different topics and areas of research within Economics. Listed below are the most common fields they work in.<\/p>\n\n\n                            <\/header>\n\n                    <\/div>\n\n            <\/div>\n\n    <\/div>\n<\/section>\n\n\n\n<section class=\"w-screen px-6 cu-section cu-section--white ml-offset-center md:px-8 lg:px-14\">\n    <div class=\"space-y-6 cu-max-w-child-5xl  md:space-y-10 cu-prose-first-last\">\n\n        \n    \n    <dl class=\"cu-description cu-component-updated\">\n        \n    <div class=\"grid pt-4 pb-3 border-b accordion border-cu-black-100 md:pt-6 md:pb-5 first:border-t\">\n        <dt class=\"font-semibold not-prose\">\n            <button class=\"flex items-center justify-between w-full text-left accordion__button\" aria-expanded=\"false\" aria-controls=\"accordion-econometrics\">\n                <span class=\"flex-1 ml-auto text-left break-words whitespace-normal cu-icon\">\n                    Econometrics\n                <\/span>\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewbox=\"0 0 24 24\" stroke-width=\"1.5\" stroke=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\" class=\"w-5 h-5 ml-auto transition-transform rotate-0 accordion__icon text-cu-black-500\">\n                    <path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M8.25 4.5l7.5 7.5-7.5 7.5\"><\/path>\n                <\/svg>\n            <\/button>\n        <\/dt>\n        <dd class=\"p-0 mt-0 cu-prose cu-prose-first-last accordion__content md:p-0 md:mt-0\" hidden=\"\" id=\"accordion-econometrics\">\n            \n\n<p><\/p>\n\n\n\n<p>Econometrics uses statistical tools to obtain quantitative answers to economic questions, translating economic theories into models analyzed with economic data. These models connect outcome variables with explanatory variables to explain relationships, test hypotheses, and make forecasts. Theoretical econometrics develops methods, while applied econometrics uses them with data. Econometric models help understand effects like education on wages, trade on growth, or taxes on incentives. Relationships of interest capture key economic theory features, though varied data can complicate analysis. Despite challenges, econometrics measures causal relationships, improves methods, enhances precision, and adapts to new large or high-frequency data sources.<\/p>\n\n\n\n<p><strong class=\"myprefix-text-bold\"><em class=\"myprefix-text-italic\">Faculty Working in Econometrics:<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/galdo-jose-c\/\">Jos\u00e9 Galdo<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/khalaf-lynda-a\/\">Lynda Khalaf<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/metaxoglou-konstantinos\/\">Konstantinos Metaxoglou<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/wp-admin\/post.php?post=18364&amp;action=edit\">Maya Papineau<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/power-simon\/\">Simon Power<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/razo-garcia-raul\/\">Raul Razo-Garcia<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/russell-thomas-m\/\">Thomas Russell<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/webb-matthew-d\/\">Matt Webb<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/worswick-christopher\/\">Chris Worswick<\/a><\/li>\n<\/ul>\n\n\n\n<p><em class=\"myprefix-text-italic\">Definition provided by Professor Lynda Khalaf, Department of Economics.<\/em><\/p>\n\n\n        <\/dd>\n    <\/div>\n\n\n    <div class=\"grid pt-4 pb-3 border-b accordion border-cu-black-100 md:pt-6 md:pb-5 first:border-t\">\n        <dt class=\"font-semibold not-prose\">\n            <button class=\"flex items-center justify-between w-full text-left accordion__button\" aria-expanded=\"false\" aria-controls=\"accordion-economic-development\">\n                <span class=\"flex-1 ml-auto text-left break-words whitespace-normal cu-icon\">\n                    Economic Development\n                <\/span>\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewbox=\"0 0 24 24\" stroke-width=\"1.5\" stroke=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\" class=\"w-5 h-5 ml-auto transition-transform rotate-0 accordion__icon text-cu-black-500\">\n                    <path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M8.25 4.5l7.5 7.5-7.5 7.5\"><\/path>\n                <\/svg>\n            <\/button>\n        <\/dt>\n        <dd class=\"p-0 mt-0 cu-prose cu-prose-first-last accordion__content md:p-0 md:mt-0\" hidden=\"\" id=\"accordion-economic-development\">\n            \n\n<p><\/p>\n\n\n\n<p>Economic Development&nbsp;studies one of the old questions in economics, going back to Adam Smith and the founding of the modern discipline. That question is: why are some countries rich and other countries poor? And what can currently poor countries do in terms of economic policies to increase their economic growth rates to eventually catch up to the rich countries? Given the massive inequalities that exist today between the rich countries of the North and the poor countries of the global South, this remains one of the most important fields of study in economics, as the problem of wealth and poverty is enormously consequential for the well-being of everyone on the planet.<\/p>\n\n\n\n<p><strong class=\"myprefix-text-bold\"><em class=\"myprefix-text-italic\">Faculty Working in Economic Development:<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/dammert-ana-c\/\">Ana Dammert<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/dehejia-vivek-h\/\">Vivek Dehejia<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/demers-michel\/\">Michel Demers<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/galdo-jose-c\/\">Jos\u00e9 Galdo<\/a><\/li>\n<\/ul>\n\n\n\n<p><em class=\"myprefix-text-italic\">Definition provided by Professor Vivek Dehejia, Department of Economics.<\/em><\/p>\n\n\n        <\/dd>\n    <\/div>\n\n\n    <div class=\"grid pt-4 pb-3 border-b accordion border-cu-black-100 md:pt-6 md:pb-5 first:border-t\">\n        <dt class=\"font-semibold not-prose\">\n            <button class=\"flex items-center justify-between w-full text-left accordion__button\" aria-expanded=\"false\" aria-controls=\"accordion-economics-of-the-environment\">\n                <span class=\"flex-1 ml-auto text-left break-words whitespace-normal cu-icon\">\n                    Economics of the Environment\n                <\/span>\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewbox=\"0 0 24 24\" stroke-width=\"1.5\" stroke=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\" class=\"w-5 h-5 ml-auto transition-transform rotate-0 accordion__icon text-cu-black-500\">\n                    <path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M8.25 4.5l7.5 7.5-7.5 7.5\"><\/path>\n                <\/svg>\n            <\/button>\n        <\/dt>\n        <dd class=\"p-0 mt-0 cu-prose cu-prose-first-last accordion__content md:p-0 md:mt-0\" hidden=\"\" id=\"accordion-economics-of-the-environment\">\n            \n\n<p><\/p>\n\n\n\n<p>Environmental Economics is a subfield of economics that studies the relationship between the economy and the environment. It focuses on how economic activities and policies affect the environment, and conversely, how environmental conditions impact the economy.<\/p>\n\n\n\n<p>The field is grounded in welfare economics and emphasizes the concept of externalities, which occur when the actions of individuals or firms have unintended side effects (positive or negative) on others that are not reflected in market prices. A primary example is pollution, where the social cost of production exceeds the private cost borne by the producer.<\/p>\n\n\n\n<p>Environmental economics seeks to:<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li>Measure and value environmental goods and services, many of which lack market prices (e.g., clean air, biodiversity).<\/li>\n\n\n\n<li>Design and evaluate policies to correct market failures, especially externalities. Common policy instruments include:\n<ul class=\"wp-block-list\">\n<li>Pigouvian taxes: taxes equal to the marginal external cost (e.g., carbon tax).<\/li>\n\n\n\n<li>Tradable permits: cap-and-trade systems that allocate pollution rights and allow trading.<\/li>\n\n\n\n<li>Regulations: command-and-control standards such as emission limits.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Assess the cost-effectiveness andefficiency of alternative environmental policies.<\/li>\n\n\n\n<li>Analyze the sustainability of resource use over time, often using tools like discounted utility models and optimal control theory.<\/li>\n<\/ol>\n\n\n\n<p><strong class=\"myprefix-text-bold\"><em class=\"myprefix-text-italic\">Faculty Working in Economics of the Environment<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/beland-louis-philippe\/\">Louis-Phillippe Beland<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/wp-admin\/post.php?post=18364&amp;action=edit\">Maya Papineau<\/a><\/li>\n<\/ul>\n\n\n\n<p><em class=\"myprefix-text-italic\">Definition provided by Professor Maya Papineau, Department of Economics.<\/em><\/p>\n\n\n        <\/dd>\n    <\/div>\n\n\n    <div class=\"grid pt-4 pb-3 border-b accordion border-cu-black-100 md:pt-6 md:pb-5 first:border-t\">\n        <dt class=\"font-semibold not-prose\">\n            <button class=\"flex items-center justify-between w-full text-left accordion__button\" aria-expanded=\"false\" aria-controls=\"accordion-health-economics\">\n                <span class=\"flex-1 ml-auto text-left break-words whitespace-normal cu-icon\">\n                    Health Economics\n                <\/span>\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewbox=\"0 0 24 24\" stroke-width=\"1.5\" stroke=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\" class=\"w-5 h-5 ml-auto transition-transform rotate-0 accordion__icon text-cu-black-500\">\n                    <path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M8.25 4.5l7.5 7.5-7.5 7.5\"><\/path>\n                <\/svg>\n            <\/button>\n        <\/dt>\n        <dd class=\"p-0 mt-0 cu-prose cu-prose-first-last accordion__content md:p-0 md:mt-0\" hidden=\"\" id=\"accordion-health-economics\">\n            \n\n<p><\/p>\n\n\n\n<p>Health Economics<strong>&nbsp;<\/strong>is the study of how resources are allocated in health care systems, how individuals make decisions related to health, and how these decisions affect health outcomes and economic efficiency. It includes the analysis of health behaviors, the impact of public policies on health and health care markets, and the evaluation of interventions aimed at improving population health. Health economists often rely on large administrative and survey datasets to assess causal relationships and inform evidence-based policy.<\/p>\n\n\n\n<p><br><strong class=\"myprefix-text-bold\"><em class=\"myprefix-text-italic\">Faculty Working in Health Economics:<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/beland-louis-philippe\/\">Louis-Phillippe Beland<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/gaelle-simard-duplain\/\">Ga\u00eblle Simard-Duplain<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/vivian-hoffmann\/\">Vivian Hoffman<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/lee-minjoon\/\">Minjoon Lee<\/a><\/li>\n<\/ul>\n\n\n\n<p><em class=\"myprefix-text-italic\">Definition provided by Professor Louis Phillippe-Beland, Department of Economics.<\/em><\/p>\n\n\n        <\/dd>\n    <\/div>\n\n\n    <div class=\"grid pt-4 pb-3 border-b accordion border-cu-black-100 md:pt-6 md:pb-5 first:border-t\">\n        <dt class=\"font-semibold not-prose\">\n            <button class=\"flex items-center justify-between w-full text-left accordion__button\" aria-expanded=\"false\" aria-controls=\"accordion-industrial-organization\">\n                <span class=\"flex-1 ml-auto text-left break-words whitespace-normal cu-icon\">\n                    Industrial Organization\n                <\/span>\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewbox=\"0 0 24 24\" stroke-width=\"1.5\" stroke=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\" class=\"w-5 h-5 ml-auto transition-transform rotate-0 accordion__icon text-cu-black-500\">\n                    <path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M8.25 4.5l7.5 7.5-7.5 7.5\"><\/path>\n                <\/svg>\n            <\/button>\n        <\/dt>\n        <dd class=\"p-0 mt-0 cu-prose cu-prose-first-last accordion__content md:p-0 md:mt-0\" hidden=\"\" id=\"accordion-industrial-organization\">\n            \n\n<p><\/p>\n\n\n\n<p>Industrial Organization&nbsp;studies the operation and performance of imperfectly competitive markets and the behavior and organization of firms in these markets.&nbsp; This field differentiates itself from microeconomics by its focus on imperfect competition, such as monopoly and oligopoly, and government interventions aimed at improving market efficiency through competition policies or economic regulation.<\/p>\n\n\n\n<p><strong class=\"myprefix-text-bold\"><em class=\"myprefix-text-italic\">Faculty Working in Industrial Organization<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/chen-zhiqi\/\">Zhiqi Chen<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/czastkiewicz-carolina\/\">Carolina Czastkiewicz<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/metaxoglou-konstantinos\/\">Konstantinos Metaxoglou<\/a><\/li>\n<\/ul>\n\n\n\n<p><em class=\"myprefix-text-italic\">Definition provided by Professor Zhiqi Chen, Department of Economics.<\/em><\/p>\n\n\n        <\/dd>\n    <\/div>\n\n\n    <div class=\"grid pt-4 pb-3 border-b accordion border-cu-black-100 md:pt-6 md:pb-5 first:border-t\">\n        <dt class=\"font-semibold not-prose\">\n            <button class=\"flex items-center justify-between w-full text-left accordion__button\" aria-expanded=\"false\" aria-controls=\"accordion-international-economics\">\n                <span class=\"flex-1 ml-auto text-left break-words whitespace-normal cu-icon\">\n                    International Economics\n                <\/span>\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewbox=\"0 0 24 24\" stroke-width=\"1.5\" stroke=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\" class=\"w-5 h-5 ml-auto transition-transform rotate-0 accordion__icon text-cu-black-500\">\n                    <path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M8.25 4.5l7.5 7.5-7.5 7.5\"><\/path>\n                <\/svg>\n            <\/button>\n        <\/dt>\n        <dd class=\"p-0 mt-0 cu-prose cu-prose-first-last accordion__content md:p-0 md:mt-0\" hidden=\"\" id=\"accordion-international-economics\">\n            \n\n<p><\/p>\n\n\n\n<p>International Economics&nbsp;studies the economic interactions between countries through trade in goods and services, movement of factors of production (e.g., migration, foreign direct investment, and technology transfer), and international monetary arrangements (e.g., exchange rates and capital mobility). It also examines government policies (e.g., tariffs and quotas) and international institutions (e.g., the World Trade Organization and the International Monetary Fund) affecting these interactions.<\/p>\n\n\n\n<p><br><em class=\"myprefix-text-italic\"><strong class=\"myprefix-text-bold\">Faculty Working in International Economics<br><\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/chen-zhiqi\/\">Zhiqi Chen<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/dehejia-vivek-h\/\">Vivek Dehejia<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/gross-till-o\/\">Till Gross<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/razo-garcia-raul\/\">Ra\u00fal Razo-Garcia<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/yu-zhihao\/\">Zhihao Yu<\/a><\/li>\n<\/ul>\n\n\n\n<p><em class=\"myprefix-text-italic\">Definition provided by Professor Zhiqi Chen, Department of Economics.<\/em><\/p>\n\n\n        <\/dd>\n    <\/div>\n\n\n    <div class=\"grid pt-4 pb-3 border-b accordion border-cu-black-100 md:pt-6 md:pb-5 first:border-t\">\n        <dt class=\"font-semibold not-prose\">\n            <button class=\"flex items-center justify-between w-full text-left accordion__button\" aria-expanded=\"false\" aria-controls=\"accordion-labour-economics\">\n                <span class=\"flex-1 ml-auto text-left break-words whitespace-normal cu-icon\">\n                    Labour Economics\n                <\/span>\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewbox=\"0 0 24 24\" stroke-width=\"1.5\" stroke=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\" class=\"w-5 h-5 ml-auto transition-transform rotate-0 accordion__icon text-cu-black-500\">\n                    <path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M8.25 4.5l7.5 7.5-7.5 7.5\"><\/path>\n                <\/svg>\n            <\/button>\n        <\/dt>\n        <dd class=\"p-0 mt-0 cu-prose cu-prose-first-last accordion__content md:p-0 md:mt-0\" hidden=\"\" id=\"accordion-labour-economics\">\n            \n\n<p><\/p>\n\n\n\n<p>Labour Economics<strong>&nbsp;<\/strong>examines how individuals and firms interact within labour markets, focusing on the determinants of employment, wages, and income distribution. It encompasses topics such as labour supply and demand, human capital formation, wage determination, unemployment, immigration, discrimination, and labour mobility. The field heavily relies on empirical analysis, utilizing large-scale datasets and econometric techniques to identify causal relationships and inform policy decisions. By applying tools like natural experiments and program evaluations, labour economists assess the impacts of public policies and economic changes on labour market outcomes.<br><\/p>\n\n\n\n<p><strong class=\"myprefix-text-bold\"><em class=\"myprefix-text-italic\">Faculty Working in Labour Economics:<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/beland-louis-philippe\/\">Louis-Phillippe Beland<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/dammert-ana-c\/\">Ana Dammert<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/galdo-jose-c\/\">Jos\u00e9 Galdo<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/gaelle-simard-duplain\/\">Ga\u00eblle Simard-Duplain<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/webb-matthew-d\/\">Matt Webb<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/woolley-frances-r\/\">Frances Woolley<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/worswick-christopher\/\">Chris Worswick<\/a><\/li>\n<\/ul>\n\n\n\n<p><em class=\"myprefix-text-italic\">Definition provided by Professor Louis Phillippe-Beland, Department of Economics.<\/em><\/p>\n\n\n        <\/dd>\n    <\/div>\n\n\n    <div class=\"grid pt-4 pb-3 border-b accordion border-cu-black-100 md:pt-6 md:pb-5 first:border-t\">\n        <dt class=\"font-semibold not-prose\">\n            <button class=\"flex items-center justify-between w-full text-left accordion__button\" aria-expanded=\"false\" aria-controls=\"accordion-monetary-and-business-cycle-economics\">\n                <span class=\"flex-1 ml-auto text-left break-words whitespace-normal cu-icon\">\n                    Monetary and Business Cycle Economics\n                <\/span>\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewbox=\"0 0 24 24\" stroke-width=\"1.5\" stroke=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\" class=\"w-5 h-5 ml-auto transition-transform rotate-0 accordion__icon text-cu-black-500\">\n                    <path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M8.25 4.5l7.5 7.5-7.5 7.5\"><\/path>\n                <\/svg>\n            <\/button>\n        <\/dt>\n        <dd class=\"p-0 mt-0 cu-prose cu-prose-first-last accordion__content md:p-0 md:mt-0\" hidden=\"\" id=\"accordion-monetary-and-business-cycle-economics\">\n            \n\n<p><\/p>\n\n\n\n<p>Monetary and Business Cycle Economics explores the sources and dynamics of short- to medium-run fluctuations in economic activity. While monetary policy and central banking play a key role, this field also examines how factors such as fiscal policy, labor market frictions, household and firm behaviour, credit markets, and various other factors contribute to expansions and recessions. Researchers use theoretical models and empirical methods to study how shocks propagate through the economy and how institutions and policy frameworks can influence economic volatility, resilience, and recovery.<\/p>\n\n\n\n<p><em class=\"myprefix-text-italic\"><strong class=\"myprefix-text-bold\">Faculty Working in Monetary and Business Cycle Economics:<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/coe-patrick-j\/\">Patrick Coe<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/demers-fanny-s\/\">Fanny Demers<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/demers-michel\/\">Michel Demers<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/galizia-dana\/\">Dana Galizia<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/gunn-christopher-m\/\">Chris Gunn<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/khan-hashmat-u\/\">Hashmat Khan<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/lee-minjoon\/\">Minjoon Lee<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/razo-garcia-raul\/\">Ra\u00fal Razo-Garcia<\/a><\/li>\n<\/ul>\n\n\n\n<p><em class=\"myprefix-text-italic\">Definition provided by Professor Dana Galizia, Department of Economics.<\/em><\/p>\n\n\n        <\/dd>\n    <\/div>\n\n\n    <div class=\"grid pt-4 pb-3 border-b accordion border-cu-black-100 md:pt-6 md:pb-5 first:border-t\">\n        <dt class=\"font-semibold not-prose\">\n            <button class=\"flex items-center justify-between w-full text-left accordion__button\" aria-expanded=\"false\" aria-controls=\"accordion-public-economics\">\n                <span class=\"flex-1 ml-auto text-left break-words whitespace-normal cu-icon\">\n                    Public Economics\n                <\/span>\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewbox=\"0 0 24 24\" stroke-width=\"1.5\" stroke=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\" class=\"w-5 h-5 ml-auto transition-transform rotate-0 accordion__icon text-cu-black-500\">\n                    <path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M8.25 4.5l7.5 7.5-7.5 7.5\"><\/path>\n                <\/svg>\n            <\/button>\n        <\/dt>\n        <dd class=\"p-0 mt-0 cu-prose cu-prose-first-last accordion__content md:p-0 md:mt-0\" hidden=\"\" id=\"accordion-public-economics\">\n            \n\n<p><\/p>\n\n\n\n<p>Public economics is the study of the role of government in the economy. Main areas of interest are the efficiency aspects and distributional consequences of taxation, government spending, and regulations. Another focus is the study of the inner workings of governments, for example political competition or voting systems.<\/p>\n\n\n\n<p><em class=\"myprefix-text-italic\"><strong class=\"myprefix-text-bold\">Faculty Working in Publi<\/strong><\/em><em class=\"myprefix-text-italic\"><strong class=\"myprefix-text-bold\">c<\/strong><\/em><em class=\"myprefix-text-italic\"><strong class=\"myprefix-text-bold\"> Economics:<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/beland-louis-philippe\/\">Louis-Phillippe Beland<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/gross-till-o\/\">Till Gross<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/stephens-eric\/\">Eric Stephens<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/carleton.ca\/economics\/cu-people\/woolley-frances-r\/\">Frances Woolley<\/a><\/li>\n<\/ul>\n\n\n\n<p><em class=\"myprefix-text-italic\">Definition provided by Professor Till Gross, Department of Economics<\/em><\/p>\n\n\n        <\/dd>\n    <\/div>\n\n\n    <\/dl>\n\n\n    <\/div>\n<\/section>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":313,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_cu_dining_location_slug":"","footnotes":"","_links_to":"","_links_to_target":""},"cu_page_type":[],"class_list":["post-50680","page","type-page","status-publish","hentry"],"acf":{"cu_post_thumbnail":""},"_links":{"self":[{"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/pages\/50680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/users\/313"}],"replies":[{"embeddable":true,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/comments?post=50680"}],"version-history":[{"count":5,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/pages\/50680\/revisions"}],"predecessor-version":[{"id":51048,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/pages\/50680\/revisions\/51048"}],"wp:attachment":[{"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/media?parent=50680"}],"wp:term":[{"taxonomy":"cu_page_type","embeddable":true,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/cu_page_type?post=50680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}