Will we face an energy crisis in the near future, or will technological breakthroughs solve problems? Will we destroy the environment by careless use of polluting energy, or we will find new and clean sources of energy that resolves the environmental issue once and for all? Will politicians and governments succeed in agreeing on a coherent strategy to deal with global issues related to energy, or do we expect individual countries to move in different directions and exacerbate the problems?

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.

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.

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.

Economic application of mathematical tools and concepts necessary for intermediate and advanced coursework in economics. Topics include: multivariable calculus, constrained optimization, foundational coverage of probability theory, and exponential/logarithmic functions.

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

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.

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.

Topics include: the economics of the Civil War, the performance of southern agriculture in the late 19th century, the rise of large corporations, industrialization, the development of financial markets, the creation of the Federal Reserve Board, the economics of the Great Depression and the New Deal, the economic impact of World War II, and the rise of the modern service economy in the late 20th century.

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.

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.

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

Analysis of economic decision-making by individuals and firms, the resulting market outcomes, and applications to real-world problems. Emphasis on analytical logic and theoretical rigor. Topics covered include consumer preferences and utility maximization, perfect competition and market power, uncertainty and risk, externalities, and asymmetric information.

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.

Shows how "big data" can be used to understand and address some of the most important social and economic problems of our time. The course will give students an introduction to frontier research and policy applications in economics and social science in a less-technical manner. Topics include equality of opportunity, education, racial disparities, innovation and entrepreneurship, health care, climate change, criminal justice, and tax policy.

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

Increase student knowledge of career paths, job search tools, and strategies for successfully obtaining a job with a BA or BS in economics. Students will engage in a range of different activities which build their understanding of job opportunities in economics and hone their abilities to find positions they want. Students will reflect on specific skills employers seek from economics graduates and incorporate that knowledge in their own individual job search and career plan.

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

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.

Analysis of the determinants and influences on economic development. Emphasis on both theoretical models and econometric methods of explaining why some countries are poor, along with examination of policies to promote development.

Using examples from different historical and geographic contexts, students will analyze both the diversity and the commonalities of economic outcomes in Latin America, with an emphasis on institutional patterns. The class analyzes the divergence between North America and Latin America since the 1700s; surveys Latin America's economic history; reviews the region's recent economic experience with macroeconomic crises and their interaction with the political sphere; and explores current topics in the region's economic development, like the war on drugs and the rise of leftist policies.

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.

Interaction between economic problems and specification and estimation of econometric models. Topics may include: autocorrelation, heteroscedasticity, functional form, simultaneous equation models, logit and probit models, instrumental variables, qualitative choice models, and other computational methods.

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.

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.

The importance of big data in the global economy is rising. Students will explore the definition and characteristics of big data, the impact of big data on individuals, use of big data by firms, entrepreneurs and non-profits, as well as how big data reshapes various public policies.

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.

An examination of the structure, conduct, and performance of the health care market, including a study of physician services, the pharmaceutical industry, the hospital market and health insurance.  Students will analyze markets for health care and related products by examining 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.

Analysis of labor markets in theory and the real world. Topics include labor supply, labor demand, human capital, performance incentives, unemployment, discrimination, and immigration. Students will develop an understanding of how formal economic research is used to analyze U.S. labor markets and how research influences policy debates.

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.

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.

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.

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.

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.

The foundations of public economics, taxation, inequality, and behavioral public economics are reviewed. Major topics include welfare economics, tax incidence, behavioral responses to tax incentives and the efficiency cost of taxation, optimal taxation, income and wealth inequality, optimal tax systems and tax evasion, capital taxation and business income taxes, and taxation and behavioral economics. The course material is aimed to give students an understanding of both the foundations and methods of modern public economics. This is the first course in the two-part Ph.D.

Classical theories of industry organization are analyzed. Topics include monopoly price discrimination, product differentiation and bundling as well as traditional oligopoly models of Cournot and Bertrand are examined. Dynamic models of oligopoly including entry deterrence and collusion are discussed in addition to games of research and development. Long-run industry structures and dynamics are also analyzed. Also investigates implications of these models for antitrust policy.

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.

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.

Advanced Topics in Applied and Theoretical Microeconomics

Advanced Topics in Applied and Theoretical Macroeconomics

Oriented towards micro-econometric methods.

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

After a brief overview of the micro-foundations of capital market imperfections, topics include limited commitment, the financial accelerator, liquidity, bubbles, crises, the role of credit in monetary economics as well as international capital flows.

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

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.

Workshop on Macroeconomics and Growth; Workshop in Applied Economics

Workshop in Econometrics

Workshop in Industrial Organization

Workshop in Labor Economics