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Steven Hayworth

Prof. Hayworth Twin Sisters 703K Pray-Harrold Building

B.A., Cornell University
Ph.D., M.I.T.

Interests and Expertise
I became interested in economics while an undergraduate at Cornell University. After graduating in 1973, I attended M.I.T. and earned my Ph.D. in 1977. My doctoral dissertation investigated the circumstances under which rent control is likely to be adopted by a municipality. I modeled rent control as a policy response to consumer disequilibrium that is caused by mobility costs obstructing adjustments to relative price changes.

My academic interests include the interrelated topics of economic globalization, the relentless increase in economic inequality and concentration of wealth that has been ongoing for several decades, environmental sustainability, and development economics.

Students, why should you consider taking economics classes? Young people should envision a world at peace, with social justice, respect for human rights, environmental sustainability, prosperity, and freedom. In other words, a very different reality from the world today. The exercise of power in the service of insatiable greed is arguably the main obstacle to achieving this dream. Economic mechanisms and institutions are used and manipulated by those in power to subvert the dream and perpetuate the status quo. Understanding economics may help you construct a better world.

The top photo shows me in Rocky Mountain National Park, on the summit of Twin Sisters mountain. The bottom photo shows me on the summit of Mount Monadnock, which I climbed on my 60th birthday.

Selected Publications
Prof. Hayworth Monadnock "The Impact of Unions on Exit and Voice Decisions in the Labor Market" with Mark Meitzen, The Journal of Economics.

"The Implications of Land Contracts for Property Tax Assessment Practices" with John Edgren, Housin g Finance Review.

"Macroeconometrics of Stock Price Fluctuations" with Abdullah Dewan, Quarterly Journal of Business  and Economics.

"Macroeconometrics of Survey Measures of Consumer Inflation Expectations" with Abdullah Dewan, National Social Science Journal.

Courses Taught
Principles of Macroeconomics (ECON 201)

Economics of the Environment & Natural Resources (ECON 336)

Economic Development (ECON 385)

Intermediate Macroeconomic Analysis (ECON 411)

Economics of Multinational Enterprise (ECON 561)

Economic Growth and Development (ECON 585)