A first-year course in the first-year econometrics sequence: it is divided into two parts. The first gives students the necessary background in probability theory and statistics. Topics include definitions and axioms of probability, moments, some univariate distributions, the multivariate normal distribution, sampling distributions, introduction to asymptotic theory, estimation and testing. The second part introduces the linear regression model and develops associated tools. Properties of the ordinary least squares estimator will be studied in detail and a number of tests developed.
Econometric Theory I
Develop facility with basic econometric methods and the ability to apply them to actual problems and understand their application in other substantive course work in economics.
Instructors: Kirill Evdokimov
Econometrics: A Mathematical Approach
This course is an introduction to econometrics. Econometrics is a sub-discipline of statistics that provides methods for inferring economic structure from data. This course has two goals. The first goal is to give you means to evaluate an econometric analysis critically and logically. Second, you should be able to analyze a data set methodically and comprehensively using the tools of econometrics.
Economic Development I
An examination of those areas in the economic analysis of development where there have been recent analytical or empirical advances. Emphasis is given to the formulation of theoretical models and econometric analysis and testing. Topics covered include models of household/farm behavior, savings behavior, equity and efficiency in pricing policy, project evaluation, measurement of poverty and inequality, and the analysis of commodity prices.
Economics and Politics
Focused on analytical models of political institutions, this course is organized around canonical models and their applications. These include: voting models, menu auctions, models of reputation and cheap talk games. These models are used to explain patterns of participation in elections, institutions of congress, lobbying, payments to special interest groups and other observed phenomena.
Economics of Europe
Europe is at a crossroads. Political and economic integration in the European Union (EU) exceeds levels reached in the rest of the world. Economic integration not only affects trade but also migration, agriculture, competition, regions, energy, and money. Most euro area economies have been struggling with interlocking crises involving debt, banking and growth. The EU is facing a migration crisis. The UK voted for Brexit, and other countries may follow. This course studies economic integration and the ongoing crises. It uses economic analysis to study policy issues.
Instructors: Silvia Weyerbrock
Economics of Labor
An examination of the economics of the labor market, especially the forces determining the supply of and demand for labor, the level of unemployment, labor mobility, the structure of relative wages, and the general level of wages.
Economics of the Internet: The Digital Revolution
Using applied microeconomic theory and case studies, this course examines the impact of digital communications technology (DCT) on markets. DCT has enabled connections between markets, so that information is instantly, continuously and ubiquitously available. We will study the economics of networked markets, whose drivers are connectivity and big data. Is the Internet eliminating intermediaries? Is there more granularity of economic agents? Has the concept of time changed? Topics will include social networks, privacy, security and innovation.
Instructors: Swati Bhatt
Economics of the Labor Market
To provide a general overview of labor markets. Covering labor force participation, the allocation of time to market work, migration, labor demand, investment in human capital (education, on-the-job training, man-power training), discrimination, unions and unemployment. The course will also examine the impact of government programs (such as unemployment insurance, minimum wages, or a negative income tax) on the labor market.
Course introduces use of economics in understanding both the sources of and the remedies to environmental and resource allocation problems. It emphasizes the reoccurrence of economic phenomena like public goods, externalities, market failure and imperfect information. Students learn about the design and evaluation of environmental policy instruments, the political economy of environmental policy, and the valuation of environmental and natural resource services. The concepts are illustrated in a variety of applications from domestic pollution of air, water and land to international issues such as global warming and sustainable development.
Instructors: Smita Bhatnagar Brunnermeier