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Economics Department

Complete Listing of Graduate Courses in Economics

Credit for courses numbered 400 - 499 is four hours, except as noted; credit for courses numbered 500 - 599 is five hours, except as noted.

471. Modern Value Theory I

The foundation of modern microeconomic analysis, including consideration of consumer behavior, the theory of the firm, equilibrium under alternative market structures, and welfare implications.

 

472. Modern Value Theory II

Introduction to general equilibrium analysis, including modern treatment of existence, stability, and comparative statics properties; elements of capital theory.

 

475. Macroeconomics I

Reviews the main empirical regularities that characterize economic growth and business fluctuations in market economies. Discusses various theoretical models of the business cycle, as well as the macroeconomic impact of fiscal and monetary policy.

 

476. Macroeconomics II

This course continues on with the themes developed in 475: business cycles, economic growth, fiscal and monetary policies. More emphasis is placed on the tools required to do modern macroeconomics: dynamic programming, difference equations, Markov chains, etc. Computational techniques such as linear quadratic and discrete state space dynamic programming, the Coleman algorithm, and parameterized expectations are taught. (No prior knowledge of these techniques is assumed).

 

481. Mathematical Economics I

This course covers the use of optimization theory in economic analysis. The topics covered include finite-dimensional optimization (unconstrained optimization, Lagrange's Theorem, the Kuhn-Tucker Theorem), the role of convexity in optimization, parametric continuity of solutions to optimization problems, and finite- and infinite-horizon dynamic programming.

 

483. Introduction to Mathematical Statistics

Credit-two hours

Elements of probability theory and statistics, as employed in the econometrics sequence ECO

 

484/485.

 

484. Introduction to Econometrics

(Same as APS 514)

Prerequisite: ECO 483 or permission of department.

Credit-two hours

Estimation and hypothesis testing in the standard linear model. Linear restrictions; dummy variables; multicollinearity; weighted least squares; specification error.

 

485. Elements of Econometrics

(Same as APS 515)

Prerequisite: ECO 484.

Extensions of the general linear model to handle serial correlation, heteroskedasticity, simultaneity. Maximum likelihood estimation and testing. Diagnostic checking of estimated models. Problems in the analysis of individual unit data-qualitative dependent variables and sample self-selectivity.

 

491. Reading Course at Master's Level

Credit to be arranged

 

493. Master's Essay

Credit-three hours

 

495. Research at the Master's Level

Credit to be arranged

 

501. Seminar in Labor Economics

Selected topics in labor economics are discussed. The topics vary from year to year. In recent years, topics have included human capital, models of wage growth , inequality, and labor policy.

 

502. Topics in Labor Economics

Selected topics in labor economics are discussed. The topics vary from year to year. In recent years, topics have included human capital models of wage growth, wage inequality, and labor policy.

 

504. Topics in Mathematical Economics

Selected recent developments in mathematical economics.

 

507/508. Economic Theory Workshop

Topics in economic theory, with papers by faculty and outside speakers. Students are expected to be informed discussants and to present a paper.

 

509. Seminar in Theory of International Trade

Theory of specialization according to comparative advantage. Effects of tariffs on the gains from trade and the distribution of income. Standard and new trade theories.

 

510. International Finance

Topics in exchange rates, the balance of payments, asset-pricing and international capital flows, macroeconomics of open economies, and monetary systems.

 

511/512. International Economics Workshop

Topics in international economics, with papers by faculty and outside speakers. Students are expected to be informed discussants and to present a paper during one semester.

 

513. Topics in International Trade

Advanced topics discussed include the theory of trade and growth, the role of trade in middle products, optimality in the theory of international factor mobility, and the relationships among markets in goods, factors, and assets.

 

517. Advanced Econometrics

(Same as APS 523)

Prerequisite: ECO 485.

Asymptotic theory for econometrics; maximum likelihood and related estimators; estimation under misspecification; nonparametric estimation; Monte Carlo methods; small sample approximations.

 

518. Topics in Macroeconometrics

(Same as APS 524)

Prerequisite: ECO 517 or permission of instructor.

Course content varies from year to year. Stationary and nonstationary processes, expectations, unobserved component models, Kalman filtering and volatility are possible topics discussed.

 

519. Topics in Microeconometrics

Prerequisite: ECO 517 or permission of instructor.

Course content varies from year to year. Panel data, cross-section time series, qualitative dependent variables and duration analysis are possible topics discussed.

 

521. Topics in Contract Theory

This course covers the foundations for the theory of dynamic incentives, applied to repeated games and to repeated moral hazard/incomplete enforcement. We emphasize recursive methods to characterize the set of subgame perfect equilibria of repeated games and optimal contracts in the repeated moral hazard/incomplete enforcement case. Additional topics include Renegotiation proofness, Coasian dynamics and Time consistency and extensions of the static principal-agent problem to multiple agents/multiple principals.

 

524. Game Theory

Cooperative games: axiomatic bargaining theory, games in coalitional function form, Core, Shapley value. Noncooperative games: Nash equilibria, dominance equilibria, Bayesian equilibria. Application to economics.

 

525. Economic Mechanisms

Existence and construction of mechanisms with desirable properties, elicitation schemes, implementation of social choice, planning procedures, matching procedures, fair mechanisms, manipulation of mechanisms.

 

526. Topics in Game Theory

Games with incomplete information, equilibrium refinements, and applications of game theory in industrial organization and other fields.

 

527. Economic History

Students are expected to present papers evaluating recent research in the field as well as on original topics.

 

531/532. Macroeconomics Workshop

Topics in macroeconomics, with papers by faculty and outside speakers. Students are expected to be informed discussants and to present a paper during one semester.

 

534. Topics in Macroeconomics

Studies dynamic macroeconomic models with heterogeneity in age, income, and wealth across agents. Examines the interplay between macroeconomic variables and inequality. Reviews evidence concerning the models discussed.

 

535. Dynamic Competitive Analysis

The focus of this course is on studying macroeconomic models with many types of households and firms. Models of capital, labor, financial, and marriage markets are presented. Issues such as adoption of new technologies, the determination of asset prices, marriage and divorce, and unemployment are studied. The development of the mathematical and computational skills required to do state-of-the-research in macroeconomics is stressed.

 

536. Economic Growth

Examines the available empirical evidence on the development process. Discusses theoretical models that highlight the role of capital accumulation, human capital, innovation, technological diffusion, poverty traps, trade and international capital markets, public policy, and population growth.

 

541. Seminar in the Theory of Public Finance I

Economic theory is used to analyze the economic functions of a government and its associated institutions. Externalities, public goods, and taxes are studied from a general equilibrium perspective. Cost-benefit analysis and expenditures are studied.

 

542. Seminar in the Theory of Public Finance II

Topics in institutional and empirical public finance at both the national and local levels.

 

545. Topics in Micro-Development Economics

Topics include labor market efficiency, nutrition-based efficiency wages, peasant household behavior, contractual arrangements, risk and the family, fertility, health, and savings.

 

551/552. Applied Economics Workshop

Topics in applied economics, with papers by faculty and outside speakers. Students are expected to be informed discussants and to present a paper during one semester.

 

575. Political Economy I

This course will focus on several foundational topics in theoretical political economy. Within the paradigm of social choice theory, we cover Arrow's impossibility theorem, the limitations of rational collective decisionmaking, and the consequences for political stability vs. instability. We then take the perspective of noncooperative game theory and cover (among other things) the theory of implementation, strategic voting and the design of nonmanipulable voting rules, and the power of agenda setters.

 

580. Political Economy I

This course focuses on a variety of theoretical models concerning political and economic behavior, as well as addressing more abstract foundational issues of choice theory and institutional design. Students learn not only about the predicted effects of certain political institutions on economic outcomes, but also about the possibility of (and methods involved in) solving various collective action problems, agency problems, and the like. (Fall)

 

582. Political Economy II

The course develops and uses theoretical models with economic and political elements. A range of issues are studied with specific applications varying from year to year.

 

584. Seminar in Industrial Organization

Modern theory of industrial structure and conduct is covered along with empirical studies of its validity. Topics include analysis of pricing, product differentiation, entry and merger. Consequences of concentration and collusion for efficiency and technical progress are examined as well as appropriate policy responses.

 

591. Reading Course at the Ph.D. Level

Credit to be arranged

 

595. Research at the Ph.D. Level

Credit to be arranged

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