An introduction to the modes of thought of economics. Use of simple standard tools of economics to analyze important problems that arise frequently in public policy, the news media, and in daily life. An emphasis on how economists predict what choices societies make and how economists analyze whether those are good choices. Practical application of a variety of economic tools leading to a focus on the essential unity underlying these analytical tools, viewing economics as a discipline that applies a core methodology in different ways in different situations.

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Why have tuition and fees increased substantially over the past 30 years at almost all institutions of higher education in the US? How can quality and productivity be measured in schools? Why do most students pay considerably less than the actual cost of service provision? What is society's interest in devoting considerable resources to education beyond the high school level? How do existing and proposed governmental policies impact both the number of students pursuing a college education and the cost of this education?

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Introduces economic models used to analyze economic behavior by individuals and firms and consequent market outcomes. Applies conceptual analysis to several policy issues and surveys a variety of specific topics within the broad scope of microeconomics.

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Introduces economic models used to analyze economic behavior by individuals and firms and consequent market outcomes. Applies conceptual analysis to several policy issues and surveys a variety of specific topics within the broad scope of microeconomics.

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An introduction to how market economies behave at the aggregate level. The determination of national income/output and the problems of unemployment inflation, will be examined, along with monetary and fiscal policy.

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An introduction to how market economies behave at the aggregate level. The determination of national income/output and the problems of unemployment inflation, will be examined, along with monetary and fiscal policy.

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Introductory course to develop understanding of statistical concepts used in applied economics. Students will acquire skills needed to calculate and interpret statistical concepts, including descriptive statistics, probability, discrete and continuous distributions, sampling, point and interval estimations, hypothesis testing, basic analysis of variance, and simple linear regression models. Students will apply these concepts to data using both handheld calculators and spreadsheets(Excel), and students will be introduced to an econometric software package such as SPSS or SAS or R.

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Analysis of the determination of national income, employment, and price levels. Discussion of consumption, investment, inflation, and government fiscal and monetary policy.

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Analysis of the determination of national income, employment, and price levels. Discussion of consumption, investment, inflation, and government fiscal and monetary policy.

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Analysis of the determination of national income, employment, and price levels. Discussion of consumption, investment, inflation, and government fiscal and monetary policy.

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Analysis of the theories of consumer behavior, producer behavior, different market structures, and various sources of inefficient outcomes. Analysis of microeconomic policies designed to improve market outcomes.

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Analysis of the theories of consumer behavior, producer behavior, different market structures, and various sources of inefficient outcomes. Analysis of microeconomic policies designed to improve market outcomes.

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Analysis of the theories of consumer behavior, producer behavior, different market structures, and various sources of inefficient outcomes. Analysis of microeconomic policies designed to improve market outcomes.

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Economic concepts are used to analyze various aspects of the founding and early history of the U.S., including the British settlement of the North American colonies, the economics of the American Revolutionary war, the writing of the Constitution, the development of financial markets, policies on public lands and the spread of western agriculture, slavery, banking, and early industrialization.

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Analysis of the economic and social characteristics of underdeveloped areas. Recent theories of economic development, obstacles to development, policies and planning for development.

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Analysis of the economic and social characteristics of underdeveloped areas. Recent theories of economic development, obstacles to development, policies and planning for development.

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Analysis of policy options and debates on fostering economic growth and development in a global economy where national boundaries are no longer relevant. Topics covered will include real loanable funds markets in both local and international contexts during normal conditions and during financial crises, the design of trade and industrial policies, and the role of the World Bank, IMF, WTO, and other international agencies as well as regional and bilateral trade agreements. Emerging economies will be emphasized.

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Introduction to the use of statistics in economics. Topics include: Probability, random variables and their distributions, sampling theory, estimation, hypothesis testing, analysis of variance, regression analysis and correlation.

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Analysis of macroeconomic behavior and policy with emphasis on theoretical rigor. Topics include the determinants of economic growth, unemployment, inflation, and international economic flows.

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Analysis of economic decision-making by individual buyers and sellers, and resulting market outcomes, with emphasis on theoretical rigor. The efficient properties of perfect competition are examined, followed by consideration of market power, externalities, and asymmetric information.

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The structure of financial institutions and their role in the provision of money and near money. Analysis of the Federal Reserve System, the techniques of central banks, and the control of supply of financial assets in stabilization policy. Relationship of money and credit to economic activity and the price level.

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See Department Advising Office for course eligibility, course requirements, and application information.
Contact department for information to register for this course.

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General supervision will be provided through assembled meetings with the professor in charge of the course.

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Analysis of current economic problems and public policies. Topics could include poverty, income inequality, social insurance, education, environmental sustainability, immigration, and innovation. Other issues may be substituted depending on current events.

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Analysis of current economic problems and public policies. Topics could include poverty, income inequality, social insurance, education, environmental sustainability, immigration, and innovation. Other issues may be substituted depending on current events.

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An in-depth analysis of current issues in macroeconomic theory and policy. Topics covered include: 1. alternative perspectives on macroeconomics including monetarism, new classical equilibrium models, rational expectations, and real business cycle models; 2. long term growth, the slowdown in productivity growth, and concerns about U.S. competitiveness; 3. the effectiveness of macroeconomic policy in an open economy; 4. the effects of finance on the real sector.

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Studies the competitive and cooperative behavior that results when several parties with conflicting interests must work together. Learn how to use game theory to analyze situations of potential conflict. Applications are drawn from economics, business, and political science.

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Studies the competitive and cooperative behavior that results when several parties with conflicting interests must work together. Learn how to use game theory to analyze situations of potential conflict. Applications are drawn from economics, business, and political science.

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Economic theory of the developing nations; role of innovation, capital formation, resources, institutions, trade and exchange rates, and governmental policies.

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Economic theory of the developing nations; role of innovation, capital formation, resources, institutions, trade and exchange rates, and governmental policies.

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Analyzes patterns of economic and institutional development in the Middle East; assesses the general trends in economic growth, investment, and institutional changes; and examines specific issues such as population and human development, economics and politics of oil and trade, the structure of state and its role in economic development, financial markets and Islamic banking, and business environment.

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Emphasizes the interaction between economic problems and the assumption employed in statistical theory. Formulation, estimation, and testing of economic models, including single variable and multiple variable regression techniques, theory of identification, and issues relating to inference.

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Emphasizes the interaction between economic problems and the assumption employed in statistical theory. Formulation, estimation, and testing of economic models, including single variable and multiple variable regression techniques, theory of identification, and issues relating to inference.

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Interaction between economic problems and specification and estimation of econometric models. Topics include issues of autocorrelation, heteroscedasticity, functional form, simultaneous equation models, qualitative choice models, and other computational methods.

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Provide the knowledge and skills necessary to accomplish and utilize basic applied econometric analysis utilized by many business service providers, government agencies, and nonprofits engaged in policy analysis. Topics include simple and multiple regressions using cross section, time series, and panel data, issues of heteroskedasticity, serial correlation, and multicollinearity, models with binary dependent variable, and program evaluation. Course emphasizes application of knowledge using software packages but still covers essential theoretical background.

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Provide the knowledge and skills necessary to accomplish and utilize basic applied econometric analysis utilized by many business service providers, government agencies, and nonprofits engaged in policy analysis. Topics include simple and multiple regressions using cross section, time series, and panel data, issues of heteroskedasticity, serial correlation, and multicollinearity, models with binary dependent variable, and program evaluation. Course emphasizes application of knowledge using software packages but still covers essential theoretical background.

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Provide the knowledge and skills necessary to accomplish and utilize basic applied econometric analysis utilized by many business service providers, government agencies, and nonprofits engaged in policy analysis. Topics include simple and multiple regressions using cross section, time series, and panel data, issues of heteroskedasticity, serial correlation, and multicollinearity, models with binary dependent variable, and program evaluation. Course emphasizes application of knowledge using software packages but still covers essential theoretical background.

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Provide the knowledge and skills necessary to accomplish and utilize basic applied econometric analysis utilized by many business service providers, government agencies, and nonprofits engaged in policy analysis. Topics include simple and multiple regressions using cross section, time series, and panel data, issues of heteroskedasticity, serial correlation, and multicollinearity, models with binary dependent variable, and program evaluation. Course emphasizes application of knowledge using software packages but still covers essential theoretical background.

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Study of how to use cost benefit analysis and other similar tools of applied microeconomics to conduct policy analyses. Cost-benefit analysis is an empirical method of identifying an optimal choice from a set of policy alternatives, where optimal is defined in terms of economic efficiency. Real world examples are addressed, so that students understand limitations of the methods and also interactions of economic analysis with political and administrative processes.

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An introduction to the methodology of experimental economics and its application to issues such as decision-making under uncertainty, auctions, and public goods. Also an introduction to behavioral economics as a relatively new area of economic research.

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The different types of financial assets that exist, the markets that they trade in, and the determination of their prices and rates of return are examined. Specific topics that will be covered include the Markowitz portfolio selection model, the capital asset pricing model, the arbitrage pricing theory, the efficient markets hypothesis, the term structure of interest rates, and options. There will be almost no emphasis on issues in corporate finance.

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The different types of financial assets that exist, the markets that they trade in, and the determination of their prices and rates of return are examined. Specific topics that will be covered include the Markowitz portfolio selection model, the capital asset pricing model, the arbitrage pricing theory, the efficient markets hypothesis, the term structure of interest rates, and options. There will be almost no emphasis on issues in corporate finance.

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Uses models of open-economy macroeconomics to explain the causes and consequences of international capital flows. Analysis is made of private consumption, investment, the government sector, current accounts, the labor market, and the money and foreign exchange markets in small open economies. This framework is then used to study examples of how speculative attacks on currencies, sudden reversals of capital inflows, and the effects of the lack of credibility of economic policy affect economic development.

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Examines the economics of international economic integration, including the theory of customs unions and free trade areas, the role of GATT and the WTO, changes in individual countries' foreign trade policies during the new era of globalization, the special role of multinational firms in world trade, and recent controversies about the benefits and costs of globalized trade.

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Examines the economics of international economic integration, including the theory of customs unions and free trade areas, the role of GATT and the WTO, changes in individual countries' foreign trade policies during the new era of globalization, the special role of multinational firms in world trade, and recent controversies about the benefits and costs of globalized trade.

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Analysis of collective decision making, economic models of government, program budgeting, and policy implementation; emphasis on models of public choice and institutions which affect decision making.

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Analysis of collective decision making, economic models of government, program budgeting, and policy implementation; emphasis on models of public choice and institutions which affect decision making.

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Analysis of collective decision making, economic models of government, program budgeting, and policy implementation; emphasis on models of public choice and institutions which affect decision making.

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The role of the public sector in a market economy constitutes the over-arching topic of this course. Emphasis lies on analyzing government expenditure programs and the microeconomics of tax policy.

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Relationship of the exchange process to the system of institutions and rules that society develops to carry out economic transactions. Topics covered include: Property rights; torts, negligence, and liability; contracts and exchanges; criminal control and enforcement; equity and efficiency issues.

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Analyze markets for health care and related products by understanding the incentives and constraints for various participants, including individuals, family units, doctors, pharmaceutical companies, hospitals, and insurance providers. Analysis will combine both theoretical models and empirical tools.

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An analytical treatment of theories of labor markets, and an examination of empirical findings, evidence and conclusions. Topics covered will include some or all of the following: labor demand; labor supply and labor market participation; theory of human capital; earnings differentials; and if time allows, market structure and the efficiency of labor markets; and unemployment.

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An analytical treatment of theories of labor markets, and an examination of empirical findings, evidence and conclusions. Topics covered will include some or all of the following: labor demand; labor supply and labor market participation; theory of human capital; earnings differentials; and if time allows, market structure and the efficiency of labor markets; and unemployment.

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Central topics include the determinants of firms' demand for labor and households' decision making about whether to work, how much to work, and where to work. We will then study the equilibrium amount of labor hired in society and the wages paid to workers. The course will also include the measurement of the labor market, human capital, discrimination, incentives, and current changes in the American economic landscape. Various economic policies impacting labor markets will be analyzed.

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Central topics include the determinants of firms' demand for labor and households' decision making about whether to work, how much to work, and where to work. We will then study the equilibrium amount of labor hired in society and the wages paid to workers. The course will also include the measurement of the labor market, human capital, discrimination, incentives, and current changes in the American economic landscape. Various economic policies impacting labor markets will be analyzed.

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Analysis of the economic issues associated with social safety nets. Topics to be covered include the cash transfer programs for breaking the cycle of poverty, labor market policies aimed at combating unemployment, childhood interventions to improve human capital development, and the challenges faced by pension systems over the world. The approach is based on a life-cycle perspective. Evidence and experiences from developed and developing countries will covered.

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Students will work in small groups (3-4 per group) to gather macroeconomic and industry-specific data, analyze and interpret this information, and use findings to develop recommendations for simulated clients. Each semester’s research will focus on a different business line. Each group will examine data pertaining to unemployment rates, personal income, uncollectible debt, and collection laws.

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Further issues regarding macroeconomic topics. First half emphasis will be placed on dynamic macroeconomic theory as pertaining to monetary issues, policy ineffectiveness and effectiveness. The second half of the course will focus on theories of investment and growth.

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Analysis of markets and market equilibria; the Arrow-Debreu model of general equilibrium, the two-sector model, welfare theorems, externalities, public goods, markets with incomplete and asymmetric information.

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Institutions and technology shaping pre-capitalist economies: Archaic, Greek and Roman, Feudal, and Mercantile. Rise of the market system, national economies, and capitalism. The nature of industrial society. Imperialism.

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A continuation of ECON623. Topics include: Nonlinear models and nonlinear estimation methods (generalized method of moments and maximum likelihood estimation), panel data models, univariate dynamic models, multivariate dynamic models including simultaneous equation models, and non-parametric/semiparametric estimation methods. The course will also provide instructions on the use of a major statistical package such as Stata or TSP.

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An exploration of how people make decisions, questioning the concept of "perfect rationality" in the standard economic theory, providing improved models in line with the observed biases of decision makers. Focusing on decision making under risk and ambiguity, endowment effect, status quo bias, loss aversion, intertemporal choice, and selfish and pro-social preferences.

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Fundamental aspects of data management and interpretation emphasizing sampling, descriptive statistics, index numbers and construction of aggregated variables. Students will learn probability theory, confidence intervals, hypothesis testing and regression analysis using the EXCEL spreadsheet program and STATA statistical software.

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Selected issues in monetary economics with an equal emphasis of learning the models and understanding important issues: a survey of models (cash-in-advance, money-in-the-utility-function, transaction cost, search-based models), empirical issues in monetary economics, business cycles and money, monetary policy, welfare cost of inflation, alternative media of exchange.

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This is the second half of a two-semester sequence in Advanced Microeconomics, intended for second-year Ph.D. students. The course material varies from year-to-year, but currently it focuses on auction theory, matching theory, and the relationship between matching and auction theory. Other topics that are treated in some years include: sequential bargaining under incomplete information; and equilibrium refinements.

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Advanced Topics in Applied and Theoretical Microeconomics

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Advanced Topics in Applied and Theoretical Microeconomics

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Advanced Topics in Applied and Theoretical Microeconomics

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Advanced Topics in Applied and Theoretical Microeconomics

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Advanced Topics in Applied and Theoretical Macroeconomics

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Advanced Topics in Applied and Theoretical Macroeconomics

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Advanced Topics in Applied and Theoretical Macroeconomics

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Advanced Topics in Applied and Theoretical Macroeconomics

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Oriented towards micro-econometric methods.

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Puzzles in international finance; portfolio balance, current account dynamics, exchange rate behavior; capital market imperfections; balance of payments crises.

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Designed primarily for students planning to write dissertations on a topic related to international trade. Its focus is on recent research in this field including tests of trade theories; the effects of trade on growth and knowledge diffusion; the political economy of trade policy and the theory and practice of trade agreements.

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Designed primarily for students planning to write dissertations on a topic related to international trade. Its focus is on recent research in this field including tests of trade theories; the effects of trade on growth and knowledge diffusion; the political economy of trade policy and the theory and practice of trade agreements.

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Theoretical and empirical issues in taxation and redistribution, with a particular emphasis on the U.S. experience. Major topics covered include the theory of optimal income taxation and transfer program design; U.S. anti-poverty and income support programs; taxes and labor supply among both low- and high-income individuals; taxable income elasticities; tax incidence and efficiency; and individual savings behavior, in particular as it relates to taxation and public policy.

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Covers the central ideas in population economics. These include theory and test of theories of mortality, fertility and immigration.

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The theory and practice of valuing environmental benefits, including the health, recreation and aesthetic benefits associated with controlling air and water pollution, and the damages associated with climate change. Estimation of the benefits of energy efficiency improvements-including the benefits of fuel economy standards.

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Master's Thesis Research

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Workshop on Macroeconomics and Growth; Workshop in Applied Economics

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Workshop on Macroeconomics and Growth; Workshop in Applied Economics

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Workshop on Macroeconomics and Growth; Workshop in Applied Economics

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Workshop on Macroeconomics and Growth; Workshop in Applied Economics

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Workshop in Econometrics

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Workshop in International Development, and Comparative Economics

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Workshop in Industrial Organization

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Workshop in Industrial Organization

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Workshop in Labor Economics

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Workshop in Labor Economics

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Pre-Candidacy Research

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Doctoral Dissertation Research

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