Michael Vernarelli Headshot

Michael Vernarelli

Professor
Department of Economics
College of Liberal Arts

585-475-2455
Office Location

Michael Vernarelli

Professor
Department of Economics
College of Liberal Arts

Education

AB, University of Michigan; MA, Ph.D., State University of New York at Binghamton

585-475-2455

Currently Teaching

ECON-402
3 Credits
The central question of macroeconomics is the determination of output, employment, and prices. This course develops models which incorporate behavioral assumptions concerning consumption, investment, and the role of money and their relationship to macroeconomic variables. Macroeconomics, unlike microeconomics, has been in a constant state of flux during the 20th and into the 21st century. Theories which purport to explain macroeconomic behavior have come into and gone out of fashion depending upon institutional changes and external factors. This course will primarily focus on examining four macroeconomic theories; the Classical, Keynesian, Monetarist, and New Classical models. In addition, macroeconomic public policy will be analyzed in the context of recent economic history. This analysis will be extended to consider open economy macroeconomics in a global context.
ECON-101
3 Credits
Microeconomics studies the workings of individual markets. That is, it examines the interaction of the demanders of goods and services with the suppliers of those goods and services. It explores how the behavior of consumers (demanders), the behavior of producers (suppliers), and the level of market competition influence market outcomes.

Select Scholarship

Journal Paper
Vernarelli, Michael J. "Predicting Altruistic Behavior and Assessing Homophily: Evidence from the Sisterhood." Sociological Science 3. (2016): 889-909. Web.
Vernarelli, Michael J. and Justin S. Skillman. "Framing Effects on Bidding Behavior in Experimental First-Price Sealed-Bid Money Auctions." Judgment and Decision Making 11. 4 (2016): 391-400. Web.