Fall 2017

Institutional Finance, Trading, and Markets
This course covers important theoretical concepts and recent developments in asset pricing under asymmetric information, financial intermediation, behavioral finance and market microstructure. Topics include market efficiency, liquidity crises, asset price bubbles, herding, risk management, market design and financial regulation. The course examines these concepts theoretically as well as via a simulation software, whereby classic decision-making settings are realistically revisited in a competitive classroom environment.
International Development
This course will focus on less developed countries and will consider topics such as economic growth and personal well-being; economic inequality and poverty; intra-household resource allocation and gender inequality; fertility and population change, credit markets and microfinance; labor markets and trade policy. The course will tackle these issues both theoretically and empirically.
Instructors: Alicia Adsera
International Monetary Economics
This course studies topics in open-economy macroeconomics and international finance. Topics include Exchange Rates,Current Account Imbalances, Inflation, Sovereign Debt, and Open Economy Macroeconomics. The course will include economic theory as well as several applications.
Instructors: Iqbal Zaidi
International Monetary Theory and Policy I
This sequence (with ECO 554) develops core models of international finance and open-economy macroeconomics, and surveys selected current research topics in the field. Topics treated in the first semester include: the intertemporal approach to the current account; the determination of real exchange rates, and purchasing power parity; international CAPM and uncovered interest rate parity; sovereign debt crisis; speculative attacks and liquidity crises; international risk sharing and capital flows, home bias, and the stability of the international financial system.
International Trade I
The determinants of foreign trade: (1) inter-country differences of factor endowments and technologies and (2) scale economics and imperfect competition are studied. Dynamic comparative advantage; innovation and growth; factor movements and multinational corporations; gains from trade; tariffs and quantitative restrictions on trade and their role in dealing with market failures and oligopolies; the political economy of trade policy; international negotiations on trade policy; and economic integration are studied as well.
Introduction to Macroeconomics
The theory of the determination of the level of national income and economic activity, including an examination of the financial system. Emphasis on economic growth and such economic problems as inflation, unemployment and recession, and on appropriate policy responses. Some attention is also paid to international issues.
Instructors: Elizabeth Chapin Bogan
Introduction to Microeconomics
Economics is the study of how people and societies deal with scarcity. This course focuses on the advantages and disadvantages of market systems for allocating scarce resources.
Instructors: Henry Stuart Farber
Labor Economics/Industrial Relations Seminar
Drafts of papers, articles, and chapters of dissertations or books, prepared by graduate students, faculty members, or visiting scholars, are exposed to critical analysis by a series of seminars organized by field. The chief objectives are for the writers to receive the benefit of critical suggestions, for all participants to gain experience in criticism and uninhibited oral discussion, and for students and faculty members to become acquainted with the research work going on in the department. Third- and fourth-year graduate students are expected to attend; first-and second-year students and faculty members are invited to attend.
Law and Economics
An introduction to the economics of law. Application of price theory and welfare analysis to problems and actual cases in the common law - property, contracts, torts - and to criminal and constitutional law. Topics include the Coase Theorem, intellectual property, inalienable goods, product liability, crime and punishment, and social choice theory.
Instructors: Thomas Clark Leonard
Macroeconomic Theory I
First term of a two-term sequence in macroeconomics. Topics include consumption, saving, and investment; real interest rates and asset prices; long-term economic growth; money and inflation; and econometric methods for macroeconomics.


Undergraduate Courses

Advanced Econometrics: Time Series Models
Instructors: Mikkel Plagborg-Moller, Christopher A. Sims
Advanced Economic Theory I
Advanced Macroeconomic Theory I
Asset Pricing
Behavioral Economics Workshop