This is half of the second-year sequence in econometrics methodology (ECO 513 is the other). The course covers nonlinear statistical models for the analysis of cross-sectional and panel data. It is intended both for students specializing in econometric theory and for students interested in applying statistical methods to statistical data. Approximately half of the course is devoted to development of the large-sample theory for nonlinear estimation procedures, while the other half concentrates on application of the methods to various econometric models.
Advanced Econometrics: Nonlinear Models
Advanced Economic Theory I
Topics vary from year to year reflecting, among other things, current developments and the instructor's interests. Topics covered in past years have included expected and nonexpected utility theory, intertemporal general equilibrium theory, evolutionary game theory, dynamic games, contract theory, theory of organizations, and bounded rationality.
Advanced Macroeconomic Theory I
Topics vary from year to year, reflecting current developments and the instructor's interests. Topics covered in past years have included methods of numerical analysis and econometric testing of equilibrium business cycle models, the role of monetary and fiscal policy in inflation determination, the nature of optimal monetary policy, dynamic games and time consistency in macroeconomic policy formation, central banking, and the theories of price stickiness.
Introduction to asset pricing covering theory in both continuous and discrete time to study dynamic portfolio choice; derivative pricing; the term structure of interest rates; and intertemporal asset-pricing and consumption-based models. Pre-requisites: All required courses in micro, macro and econometrics at the first-year PhD level.
Behavioral Economics Workshop
Seminar led by different guest professors each week to discuss their current research in the field of Behavioral Economics.
Chinese Financial and Monetary Systems
With its rapid economic growth in the past three decades, China already has the world's second largest economy. Meanwhile its financial markets are also being quickly liberalized and integrated with the rest of the world. As the current trend continues, there are growing interests to learn and understand the workings of China's financial and monetary systems. This course aims to serve this objective with a particular emphasis on understanding the role provided by the financial system in facilitating China's economic development, in addition to the investment opportunities and risk presented by the system to the outside world.
Instructors: Guofeng Sun, Wei Xiong
Civitas Foundation Finance 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.
This course applies topics from microeconomics (ECO 310) and corporate finance (ECO 363) to study corporate restructuring. Topics include mergers, acquisitions, joint ventures, divestiture and share repurchases. Each of these is discussed in the context of the relevant economic theory, institutional and regulatory environment, and with a focus on shareholder value.
Disease Ecology, Economics, and Policy
The dynamics of the emergence and spread of disease arise from a complex interplay between disease ecology, economics, and human behavior. Lectures will provide an introduction to complementarities between economic and epidemiological approaches to understanding the emergence, spread, and control of infectious diseases. The course will cover topics such as drug-resistance in bacterial and parasitic infections, individual incentives to vaccinate, the role of information in the transmission of infectious diseases, and the evolution of social norms in healthcare practices.
Instructors: Bryan T. Grenfell
The construction, estimation, and testing of econometric models as a process, from theory to model formulation to estimation and testing and back to theory. Bridging the gap between theory and applied work. A series of topics in macroeconomics time series and microeconomic cross-sectional analysis: consumption at the household and aggregate level, commodity prices, nonparametric and parametrics estimation.