Courses

Fall 2017

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.
Strategy and Information
Explores basic themes in modern game theory and information economics. Non-cooperative solution concepts for games will be developed and applied in a variety of contexts including auctions, bargaining, repeated games dynamic interaction in oligopolistic industries, and reputation formation.
Instructors: Faruk R. Gul
The Economics of Uncertainty
This is an advanced microeconomic theory course. Using the concepts and mathematical techniques developed in ECO 310, the following topics are studied: [1] Theories of choice under uncertainty. [2] Risk aversion and applications to insurance and portfolio choice. [3] Equilibrium under uncertainty with applications to financial markets. [4] Asymmetric information: moral hazard and adverse selection. [5] Applications to the design of incentives and contracts.
Instructors: Dilip J. Abreu
Trade 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.
Urban Economics
Cities play a central role in the economy. But why do they exist? Why do people and firms pay so much money in order to crowd closely together? What forces shape their structure, size, and long-run success? The goal of this course is to answer some of these questions by analyzing cities as economic systems using both theoretical and empirical tools. The theory side of the course covers a standard set of urban models describing both the structure of cities and how they interact as part of larger national economies. The empirical side of the course draws on recent academic papers to introduce some of the econometric tools used to study cities.
Instructors: William Walker Hanlon

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Undergraduate Courses

Advanced Economic Theory I
Advanced Macroeconomic Theory I
Asset Pricing
Behavioral Economics Workshop
Chinese Financial and Monetary Systems