| ECONOMICS |
| Note:
Text highlighted in red indicates
that a change has been made to the course listing. The red
text indicates the current, updated information.
|
| 180.102
(S) |
ELEMENTS
OF MICROECONOMICS (3) Hamilton Limit 18 per section An introduction to the economic system and economic analysis with
emphasis on demand and supply, relative prices, the allocation
of resources, and the distribution of goods and services; theory
of consumer behavior, theory of the firm, and competition and
monopoly, including the application of microeconomic analysis
to contemporary problems. Prerequisite: basic facility with graphs
and algebra. |
Lec.
Sec. 01
02
03
04
05
06
07
08
09
10
11
12
13
14
15
16
17
18
19
20
21
22 |
MT 11
W 11
W 11
W 11
W 11
W 11
W 11
W 11
W 11
W 11
W 11
W 11
W 12
W 12
W 1
W 1
Th 1
Th 1
Th 1
Th 1
Th 1
Th 1
F 9 |
| 180.215
(S) (formerly 180.315) |
GAME THEORY AND THE SOCIAL SCIENCES (3) To Prereq: 180.102
or Perm. Req'd.
Limit 75 This course provides an
introduction to game theory with an emphasis on applications.
Applications in economics, political science, business, military
science, history, biology, theology and recreation will be covered.
No prior knowledge of game theory is presumed and the required
mathematical background is minimal (high school algebra and one
term of calculus will be sufficient). |
Sec. 01
|
W 1-3 |
| 180.230
(S) (formerly 180.330) |
SEMINAR IN APPLIED MICROECONOMICS (3) Gersovitz Limit 10 Prereq: 180.102 and Perm.
Req’d. |
Sec. 01 |
T 3-5 |
| 180.242
(S) |
INTERNATIONAL
MONETARY ECONOMICS (3) Staff
Limit 125 Prereq: 180.101-102
Balance of payments concepts and the
trade balance, exchange rates and the foreign exchange market,
expectations, interest rates and capital flows, central banking
and monetary policy in open economies, exchange rate regimes and
macroeconomic policy.
Formerly 180.342 |
Sec. 01 |
Th 3-5pm |
| 180.243
(S)
180.343 |
ECONOMICS AND POLICIES OF THE EUROPEAN UNION (3) Contessi Limit 25 Prereq: 180.241-International Trade
or 180.242- International Monetary Economics or Perm. Req’d What’s the economics behind
existence, structure and activities of the European Union? This
course investigates economic gains and losses of European integration,
analysis and measurement of EU policies.
Dean’s Teaching Fellowship Course |
Sec. 01 |
ThF 9-10:30 |
| 180.261
(S) |
MONETARY ANALYSIS (3) Staff Prereq: 180.101-102, 110.106 This
course analyzes the financial and monetary system of the U.S.
economy and the design and implementation of U.S. monetary policy. Among other topics, we
will examine the role of banks in the economy, the term structure
of interest rates, the stock market, the supply of money, the
role of the Federal Reserve in the economy, the objectives of
monetary policy in the United States and current
monetary policy practice.
Formerly 180.361 |
Sec. 01 |
M 5-7pm |
| 180.302
(S) |
MACROECONOMIC THEORY (4.5) Driscoll Prereq: Differential Calculus and 180.101-102 or
Perm. Req'd. Limit 40 per section. The course provides a treatment of macroeconomic theory including
a static analysis of the determination of output, employment,
the price level, the rate of interest, and a dynamic analysis
of growth, inflation, and business cycles. In addition, the use
and effectiveness of monetary and fiscal policy to bring about
full employment, price stability, and steady economic growth will
be discussed. |
Lec.
Sec. 01
02
03
|
ThF 10:30-12
T 2
T 6pm
W 3 |
| 180.334
(Q, S) |
ECONOMETRICS
(3) Williams Limit 30 per section Pre.
or Coreq: 180.301-302, 550.111-112
or Perm Req’d.
Introduction to the methods of estimation in economic research.
The first part of the course develops the primary method employed
in economic research, the method of least squares. This is followed
by an investigation of the performance of the method in a variety
of important situations. The development of a way to handle many
of the situations in which ordinary least squares is not useful,
the method of instrumental variables, concludes the course. |
Lec.
Sec. 01
02
03 |
Th 3-5
M 2
M 6pm
T 4 |
| 180.336
(S) |
ART
AND SCIENCE OF ECONOMIC FORECASTING (3) Barbera
Limit 25 Prereq: 180.101-102,
180.302 or Perm. Req’d. Will sketch out a strategy for anticipating
economic turning points. Business cycle basics, monetary policy/financial
market/real economy interactions will be reviewed. Long-term growth
issues will be explored. |
Sec. 01 |
Th 1-3 |
| 180.351
(Q, S) |
LABOR
ECONOMICS (3) Barnow Limit
25 Prereq: 180.301, 550.111
- Statistical Analysis or Perm. req’d. The economics of the determination
of earnings and the allocation of labor. The theory of labor supply
and labor demand will be developed, and then applied to questions
of income distribution unions, government intervention in the
labor market, and discrimination. If time allows, the relation
between unemployment and inflation will be discussed. |
Sec. 01 |
MT 10 |
| 180.367
(S) |
INVESTMENTS AND PORTFOLIO MANAGEMENT (3) Pritsker Limit 50 Prereq: 180.301, 550.111 - Statistical Analysis or Perm. Req'd. Investment securities and
their markets, especially the stock market. The relations between
expected return and risk. The determination of security prices.
Financial portfolio selection. The assessment of the performance
of managed portfolios. |
Sec. 01 |
W 3-5 |
| 180.368
(S) |
MANAGERIAL ECONOMICS AND BUSINESS STRATEGY (3) Knapp Limit
25 Prereq: 180.301, 550.111, and either 180.367 or 551.302 or
Perm. Req’d. Seminar
on quantitative concepts, decision-making, and strategy in business
organizations. Overall context is ‘value’ – how it is measured
and maximized long term. Microeconomic theory of the firm, competitive
analysis, corporate finance. |
Sec. 01 |
M 2-4 |
| 180.369
(S) |
RESEARCH IN ECONOMICS OF FINANCIAL MARKETS (3) Fohlin Limit
20 Prereq: 180.301-Micro Theory and 180.334-Econometrics (may
be taken concurrently) |
Sec. 01 |
T 1-3 |
| 180.392
(S) |
SENIOR
THESIS Fohlin Prereq:
180.301-302 or Perm.
Req'd A seminar for senior economics
majors, designed to develop the student's abilities to formulate,
analyze and present in both written and oral form and economic
question of current interest. The Senior Seminar and Thesis are
required of those who wish to be considered for department Honors,
and are optional for others. Senior thesis may be done as independent
study. |
Sec. 01 |
TBA |
| 180.502 |
INDEPENDENT STUDY |
|
|
| 360.528 |
APPLIED
ECONOMICS INTERNSHIP (3) Hanke
Prereq: 180.101-102
Perm. Req’d. Satisfactory/
Unsatisfactory only
Cross-listed with DOGEE and Interdepartmental |
Sec. 01 |
TBA |
| 180.602 |
MICROECONOMIC
THEORY Khan Prereq: 180.301-302, 110.106 or Perm Req'd.
First term: a systematic presentation of microeconomic theory
both its partial equilibrium and general equilibrium aspects.
Topics covered will include preferences and utility, exchange,
production, theory of the firm, capital
and interest, competition and monopoly, stability of equilibrium,
and welfare economics. Second term: a more intensive discussion
of selected topics, emphasizing recent contributions. |
Sec. 01 |
ThF Th
9-11, T 3
|
| 180.604 |
MACROECONOMIC
THEORY Carroll Prereq:
180.301-302 or Perm.
Req'd. First term: a comprehensive treatment
of macroeconomic theory, including static analysis of aggregate
output employment, the rate of interest, and the price level;
aggregative theory of investment, consumption, demand and supply
of money; empirical work on aggregative relationships. Second
term: the macrodynamic theory of growth, cycles, unemployment
and inflation, and selected subjects. |
Sec. 01 |
M 11-1,
T 11:30-1 |
| 180.605 |
ADVANCED MACROECONOMICS Ball
Prereq: 180.603-604 Topics of recent research in macroeconomics. Prof. Ball's
course covers nominal rigidities, dynamic-consistency theories
of inflation, inflation inertia and the costs of disinflation,
monetary policy, costs and benefits of price stability, benefits
of output stabilization, alternative policy rules, measuring inflation,
unemployment, efficiency-wage theories, the behavior of the NAIRU,
macro in middle-income countries, high inflation and stabilization,
currency crises. Prof. Carroll's course analyzes implications
of the buffer-stock and habit formation theories of consumption
for comovement of aggregate variables and asset pricing. The models
are applied to study the phenomena of declining U.S. saving rate, the dynamic
relationship between saving rates and growth, and the equity
premium puzzle. |
Sec. 01 |
M 3-5 |
| 180.607 |
MACROECONOMETRICS Staff Prereq: 180.633-634 or Perm. Req’d. This course is an attempt
to provide a framework for discussing the techniques that are
used in macroeconometric analysis. Generally the bias that it
has is one of looking at these from the perspective of someone
analysing macroeconomic data for policy analysis. Consequently, many of the applications considered
are drawn from the type of research conducted in central banks
and finance ministries. Its emphasis is therefore upon the issues
raised by the analysis of time series of macro-economic data.
Today there is an emerging literature that looks at micro-economic
data as well as conducting cross-country studies. We will tend to ignore that material,
as the methods used in such research are essentially those of
micro-econometrics, although sometimes with adjustments made to
reflect the nature of macro-economic time series. |
Sec. 01 |
W 1-3 |
| 180.611
|
ECONOMICS
OF UNCERTAINTY Karni Prereq: 180.601-603 or Perm. Req’d. A review of the theory of decision
making under uncertainty and its applications to problems of optimal
insurance, portfolio selection, savings decisions and optimal
search. Alternative approaches to decision making under uncertainty
will be surveyed. Attitudes towards risk will characterized and the issues of measurement and comparability
of these attitudes discussed, both in the univariate and multivariate
cases; applications will be given. The theory of optimal search
will be developed with emphasis on its usefulness for the study
of labor markets and unemployment. Course canceled 02/10/06
|
Sec. 01
|
M 9-11
|
| 180.612 |
ECONOMICS
OF INFORMATION Karni Prereq: 180.601-603 or Perm. Req’d. Course added 02/10/06 |
Sec. 01 |
M 9-11 |
| 180.616 |
MATHEMATICAL METHODS IN ECONOMICS II Lubik Prereq: 180.615 or Perm. req’d This is a continuation of 180.615
and is a course in dynamic aspects of optimization models. Techniques
of dynamic programming and the calculus of variations will also
be developed. |
Sec. 01 |
Th 11-1, F 11 ThF 1-2:30 |
| 180.618 |
GAME THEORY Zamir Prereq: 180.601 This course
is an introduction to cooperative and non-cooperative games.
Its focus is non-cooperative game theory with applications in
economics. Topics include foundations of solution concepts, refinements
of Nash equilibrium, repeated games, games with incomplete information,
differential games, and experimental testing of hypotheses. |
Sec. 01 |
T 1-3 |
| 180.631 |
COMPUTATIONAL METHODS IN ECONOMICS Anderson/Young
Anderson
(Feb.4-Mar.11)
Young
(Mar.18-May 5) |
Sec. 01 |
F 3-5pm
F
9-11 |
| 180.633 |
ECONOMETRICS Woutersen Prerequisites: 180.615 (Mathematical Methods),
180.636 (Statistical Inference), or permission of Instructor.
180.301-302, statistical inference, and differential calculus
(including partial derivatives and matrix algebra), or permission
of Instructor. Mathematical models of economic behavior
and the use of statistical methods for testing economic theories
and estimating economic parameters. Subject matter will vary from
year to year; statistical methods, such as linear regression,
multivariate analysis, and identification, estimation and testing in simultaneous
equation models, will be stressed. |
Sec. 01 |
W 9-11 |
| 180.638 |
MICROECONOMETRICS
II Woutersen Prereq:
180.633-634 or equivalent This course
introduces techniques that are used in applied research in
microeconomics. Focus is on a particular class of models, namely
discrete choice models. Well-known models in this class are the
logit and probit models. Models that have better properties involve
high-dimensional integrals, and this leads us to a discussion
of simulation estimation. Finally, dynamic decision models for
forward-looking agents who face irreversible decisions are introduced.
As an application some models in economic demography are considered. |
Sec. 01 |
M 1-3 |
| 180.642 |
INTERNATIONAL
MONETARY ECONOMICS Lubik
Coreqs. 180.601, 180.603 A link between the balance of payments
and asset accumulation/ decumulation, microeconomics of international
finance and open-economy macroeconomics. The section on open-economy
macroeconomics covers approaches to balance-of-payments adjustments,
theories of exchange rate determination and monetary, fiscal,
and exchange-market policies under fixed and flexible rate regimes. |
Sec. 01 |
F 1-3 |
| 180.651 |
LABOR ECONOMICS I Moffitt Prereq: 180.601 Theories
of the allocation of time and supply of labor, human capital,
demand for labor, market equilibrium, and income distribution.
As time allows, other topics, such as unemployment, unions, and
compensating differences will be discussed. Second term: current
topics in labor economics. The content will vary from year to
year. Likely areas include nature vs. nurture in the determination
of earnings, the function(s) of unions the question of the existence
of dual labor markets, and internal markets with specific human
capital. |
Sec. 01 |
T 8:30-11:30 |
| 180.671 |
INDUSTRIAL ORGANIZATION Copeland Prereq: 180.601 An
investigation of firm behavior in imperfectly competitive
industries from a game-theoretic perspective. Firm decision
making with respect to price and quantity, entry an
d exit, and investment will be explored. Both static and dynamic
theories will be presented to address questions related to the
intensity of competition and the creation and maintenance of market
dominance. The course is largely, though not exclusively, theoretical
in content. Though no background in game theory is required, students
are encouraged to take 180.618 or some other game theory concurrently.
Second term: The emphasis in this course is on empirical analysis
of firm behavior. The first part of the course focuses on models
of the internal organization of the firm. The second part considers
empirical analysis of firm behavior in markets, with an emphasis
on the "new industrial economics." |
Sec. 01 |
Th 3-5 |
| 180.694 |
APPLIED MICRO WORKSHOP Woutersen |
Sec. 01 |
W 3:30-5 |
| 180.695 |
MICROECONOMICS
WORKSHOP Karni |
Sec. 01 |
M 3:30-5 |
| 180.696 |
MACROECONOMICS WORKSHOP Lubik |
Sec. 01 |
T 3:30-5 |
| 180.698 |
RESEARCH/TEACHING PRACTICUMS Staff |
Sec. 01 |
TBA |
