Courses

Fall 2017

Microeconomic Theory
This is an intermediate microeconomics course. The general themes are: (1) choices made by individual consumers and firms, (2) equilibrium of the interaction of these choices in markets and (3) the role of government policy in improving economic outcomes. Some new concepts and techniques are developed, especially for studying behavior under uncertainty, and strategic interactions (game theory). The theory of each topic is accompanied by evidence, illustrations, and applications.
Microeconomic Theory I
First term of a two-term sequence in microeconomic theory. Topics include consumer and producer theory, choice under uncertainty and an introduction to game theory.
Microeconomic Theory: A Mathematical Approach
This course presents the economic theory of individual and firm behavior using mathematical tools including calculus. The course will emphasize applications of microeconomic theory to consumer choices, output and production of firms, market interaction and equilibrium.
Microeconomics Theory Workshop
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.
Money and Banking
This course explores the role that money, financial markets and institutions, and monetary policy play in shaping the economic environment. We investigate why these markets and institutions arise and may lubricate the resource allocation analytically (rather than descriptively), using tools of economic theory.
Options, Futures and Financial Derivatives
The course offers an introduction to financial derivatives and the models used to price them. Pricing techniques include the Black-Scholes formula (awarded 1997 Nobel Prize in economics), as well as extensions to accommodate time-varying volatility and more complex contracts. We also devote great attention to discuss the roles played by derivatives in shaping financial markets and the real economy by using commodity markets as a focal point. This course is technical by nature, and requires extensive use of calculus, statistics, and spreadsheet programming.
Political Economy Workshop
Seminar led by different guest professors each week to discuss their current research in the field of Political Economy. Third and fourth year graduate students are expected to attend; first and second year graduate students and faculty members are invited to attend.
Public Economics
The role of government in promoting efficiency and equity in the U.S. economy. Conditions when markets fail to be efficient. Problems with government allocation of resources. Economic analysis and public policies regarding health care, education, poverty, the environment, financial regulations and other important issues.
Instructors: Elizabeth Chapin Bogan
Public Finance I
This course provides a microeconomic examination of the role of government in the economy. Topics will include the theory and measurement of excess burden, optimal tax theory, the analysis of tax incidence, and an examination of the effects of taxation on behavior.
Research Program in Development Studies
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.

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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