ECON 1A:
Introductory Economics A
The economic way of thinking and the functioning of a market economy. The behavior of consumers and firms, markets for goods and inputs, and principles of international exchange. Applications and policy issues in economics.
Terms: Aut, Win
| Units: 5
| UG Reqs: GER:DB-SocSci, WAY-SI
ECON 1B:
Introductory Economics B
Aggregate economic relationships, including output, employment, inflation, interest rates, and exchange rates. Short-run fluctuations and long-run growth. Issues in monetary and fiscal policy. Prerequisite: 1A.
Terms: Win, Spr, Sum
| Units: 5
| UG Reqs: GER:DB-SocSci, WAY-SI
ECON 11N:
Understanding the Welfare System
Preference to freshmen. Welfare reform legislation and the devolution revolution. The transfer of responsibility for antipoverty programs to the states. How recent reforms change the welfare system and who is likely to be affected. Food stamps, AFDC, TANF, SSI, and Medicaid. Income transfer programs such as earned income tax credit and income taxes, and labor market regulations such as minimum wages and overtime rules. Economic principles to understand the effectiveness of these programs and their consequences on the behavior of families. Pre- or corequisite: ECON 1. Recommended: basic understanding of labor markets, taxes, and transfers.
Terms: Aut
| Units: 2
| UG Reqs: WAY-SI
ECON 17N:
Energy, the Environment, and the Economy
Preference to freshmen. The relationship between environmental quality and production and consumption of energy. Can environmentally-friendly energy production and consumption compete with conventional sources? How to estimate and compare environmental impact costs of nonrenewable sources such as fossil fuels and nuclear power versus renewable sources such as solar and wind power. Implicit subsidies in conventional energy sources and the environmental costs of these subsidies. Regulatory and legal barriers to more environmentally friendly energy sources.
Terms: Spr
| Units: 2
| UG Reqs: WAY-SI
ECON 20N:
Economy and Economics of Ancient Greece
Cultural background for Athens of the 5th and 4th century BC. Strengths and weaknesses of Athenian democracy. Athenian economy of the 4th century BC. Economic ideas of Plato, Aristotle, and Xenophon. Pros and cons of utilitarianism in light of the ethical theories of Plato and Aristotle.
Terms: Win
| Units: 3
| UG Reqs: GER:EC-GlobalCom
ECON 50:
Economic Analysis I
Individual consumer and firm behavior under perfect competition. The role of markets and prices in a decentralized economy. Monopoly in partial equilibrium. Economic tools developed from multivariable calculus using partial differentiation and techniques for constrained and unconstrained optimization. Prerequisites: 1A and MATH 51(must be taken for a letter grade).
Terms: Aut, Spr, Sum
| Units: 5
| UG Reqs: GER:DB-Math, WAY-FR, WAY-SI
ECON 51:
Economic Analysis II
Neoclassical analysis of general equilibrium, welfare economics, imperfect competition, externalities and public goods, intertemporal choice and asset markets, risk and uncertainty, game theory, adverse selection, and moral hazard. Multivariable calculus is used. Prerequisite: 50.
Terms: Aut, Win, Sum
| Units: 5
| UG Reqs: WAY-FR, WAY-SI
ECON 52:
Economic Analysis III
Long-run economic growth and short-run economic fluctuations. Focus on the macroeconomic tools of government: fiscal policy (spending and taxes) and monetary policy and their effect on growth, employment, and inflation. Prerequisites: 1B, 50.
Terms: Win, Spr, Sum
| Units: 5
| UG Reqs: WAY-SI
ECON 90:
Introduction to Financial Accounting (ECON 190)
How to read, understand, and use corporate financial statements. Oriented towards the use of financial accounting information (rather than the preparer), and emphasizes the reconstruction of economic events from published accounting reports.
Terms: Aut, Win
| Units: 5
| UG Reqs: WAY-AQR
ECON 91:
Introduction to Cost Accounting (ECON 191)
The use of internal financial data for managerial decision making.
Terms: Spr
| Units: 5
| UG Reqs: WAY-AQR
ECON 101:
Economic Policy Analysis
Economic policy analysis, writing, and oral presentation. Topics vary with instructor. Limited enrollment. Prerequisites: 51 and 52, 102B, and two field courses. Some sections require additional prerequisites.
Terms: Aut, Win, Spr
| Units: 5
| UG Reqs: WAY-SI
| Repeatable
for credit
ECON 102A:
Introduction to Statistical Methods (Postcalculus) for Social Scientists
Description and examples of the use of statistical techniques relevant to economics. Basic rules of probability, conditional probability, discrete and continuous probability distributions. Point estimation, tests of hypotheses, confidence intervals, and linear regression model. Prerequisite: MATH 41 or equivalent.
Terms: Aut, Win
| Units: 5
| UG Reqs: GER:DB-Math, WAY-AQR, WAY-SI
ECON 102B:
Introduction to Econometrics
Descriptive statistics. Regression analysis. Hypothesis testing. Analysis of variance. Heteroskedasticity, serial correlation, errors in variables, simultaneous equations. Prerequisites: 50, 102A or equivalent. Recommended: computer experience.
Terms: Win, Spr
| Units: 5
| UG Reqs: WAY-AQR, WAY-SI
ECON 102C:
Advanced Topics in Econometrics
Identification and estimation of the effect of human capital variables on earnings (such as the return to education, tenure), and identification and estimation of labor supply models, focusing on microeconomic data. Topics: instrumental variable estimation, limited dependent variable models (probit, logit, and Tobit models), and panel data techniques (fixed effect and random effect models, dynamic panel data models).
Terms: Spr
| Units: 5
| UG Reqs: WAY-AQR, WAY-SI
ECON 103:
Applied Econometrics
The construction and use of econometric models for analyzing economic phenomena. Students complete individual projects and core material. Topics vary with the instructor. Enrollment restricted to Juniors and Seniors. Limited enrollment. Prerequisites: 52, 102B.
Terms: Win
| Units: 5
ECON 104:
Econometrics Applied to Macroeconomics and Finance
Seminar in quantitative analysis of issues relating to the overall performance of the American and global economies. Emphasis on the recent economic crisis. Requires the execution and presentation of an original research paper using econometric techniques. Prerequisites: Econ 51, 52, 102B. Recommended: Econ 140. Limited enrollment.
Terms: Win
| Units: 5
| UG Reqs: WAY-AQR, WAY-SI
ECON 106:
World Food Economy
The interrelationships among food, populations, resources, and economic development. The role of agricultural and rural development in achieving economic and social progress in low-income nations. Emphasis is on public sector decision making as it relates to food policy.
Terms: Win
| Units: 5
| UG Reqs: WAY-SI
ECON 111:
Money and Banking
Money, interest rates, banks and other financial institutions at both micro and macro levels. Micro: alternative financial instruments, the determination of interest rates, the yield curve, and the role of banks and other capital market institutions in the intermediation process. Supply of money, regulation, and supervision. Macro: the choice of monetary policy by the central bank, the impact of monetary policy making institutions on this choice and the various channels through which monetary policy affects inflation and real variables in the economy. Emphasis is on the institutional structure of Federal Reserve System and the conduct of monetary policy in the U.S. Prerequisites: 50, 52.
Terms: Win, Sum
| Units: 5
| UG Reqs: WAY-SI
ECON 113:
Economics of Innovation
The modern, knowledge-based economy characterized by: rapid innovation; a dramatic increase in the rate of production of information and decline in the cost of producing it; and pervasive network externalities or increasing returns to scale. Emphasis is on the role of patents and alternative mechanisms for creating incentives for firms to innovate. Topics include: why there may be too much innovative activity; how patent laws may slow rather than help innovation; and the interaction between public and private sector innovation. Prerequisite: 51. Recommended: 102B.
Terms: Spr
| Units: 5
| UG Reqs: WAY-SI
ECON 116:
American Economic History
The American economy from colonial times to the present. Application of economic analysis to historical issues; the role of history in economic life. Topics: U.S. economic development in global and comparative context; origins and consequences of the American system of technology and business organization; economics of the Great Depression and New Deal; recent U.S. economic performance in historical perspective. Prerequisite: 1A.
Terms: Spr
| Units: 5
| UG Reqs: GER:DB-SocSci, GER:EC-AmerCul, WAY-SI
ECON 118:
Development Economics
The economic problems and policy concerns of developing countries. Theories of growth and development; inequality and poverty; credit and labor markets; health and education; politics and corruption. Emphasis is on economic models and econometric evidence rather than case studies. Prerequisites: 50, 52, 102B.
Terms: Aut
| Units: 5
| UG Reqs: GER:EC-GlobalCom, WAY-SI
ECON 123:
Regulation and Competition in Less Developed Countries
The economics and workings of public intervention, control and liberalization of markets in less developed countries. Topics: natural monopoly regulation; institutions and regulatory commitment; infrastructure concessions; regulation and competition in network industries such as telecoms and electricity; liberalization of markets and competition policy; competition and efficiency; antitrust with a weak judiciary. Prerequisite: 51.
Last offered: Winter 2009
| Units: 5
| UG Reqs: WAY-SI
ECON 126:
Economics of Health and Medical Care (BIOMEDIN 156, BIOMEDIN 256, HRP 256)
Graduate students with research interests should take ECON 248. Institutional, theoretical, and empirical analysis of the problems of health and medical care. Topics: institutions in the health sector; measurement and valuation of health; nonmedical determinants of health; medical technology and technology assessment; demand for medical care and medical insurance; physicians, hospitals, and managed care; international comparisons. Prerequisites: ECON 50 and ECON 102A or equivalent statistics. Recommended: ECON 51.
Terms: Aut
| Units: 5
| UG Reqs: WAY-SI
ECON 127:
Economics of Health Improvement in Developing Countries (MED 262)
Application of economic paradigms and empirical methods to health improvement in developing countries. Emphasis is on unifying analytic frameworks and evaluation of empirical evidence. How economic views differ from public health, medicine, and epidemiology; analytic paradigms for health and population change; the demand for health; the role of health in international development. Prerequisites: ECON 50 and 102B, and consent of instructor.
Last offered: Winter 2009
| Units: 5
| UG Reqs: WAY-SI
ECON 135:
Finance for Non-MBAs (MS&E 245G)
For graduate students and advanced undergraduates. The foundations of finance; applications in corporate finance and investment management. Financial decisions made by corporate managers and investors with focus on process valuation. Topics include criteria for investment decisions, valuation of financial assets and liabilities, relationships between risk and return, market efficiency, and the valuation of derivative securities. Corporate financial instruments including debt, equity, and convertible securities. Equivalent to core MBA finance course, FINANCE 220. Prerequisites: ECON 51, or ENGR 60, or equivalent; ability to use spreadsheets, and basic probability and statistics concepts including random variables, expected value, variance, covariance, and simple estimation and regression.
Terms: Aut
| Units: 3-5
ECON 136:
Market Design
Use of economic theory, experiments, and empirical analysis to design market rules and institutions. Topics include: competitive bidding and auction design; matching algorithms to allocate resources in the absence of prices; organization of regulated exchanges. Applications may include auctions for natural resources, sponsored search advertising, the medical residency match, and carbon trading markets. Recommended: 51.
Terms: Win
| Units: 5
| UG Reqs: WAY-FR
ECON 137:
Information and Incentives
Incentives in situations where one part has more information than another. A part may have better information about things that it controls (moral hazard), or about things that are outside of its control (adverse selection). The general structure of incentive problems and the design of contracts and institutions to deal with such problems. Applications: executive and employee compensation, sharecropping, financial contracts and credit rationing, insurance, markets with unobservable quality, monopolistic price discrimination, regulation of natural monopolies, income taxation and redistribution, the provision of public goods, and auctions. Prerequisite: 51
Terms: Win
| Units: 5
| UG Reqs: WAY-AQR, WAY-FR
ECON 138:
Risk and Insurance
Nature of economic risk and its effect on allocation of resources. Preferences among risky prospects: expected utility theory and the theory of risk aversion. Subjective versus objective probabilities. Market allocation of risk and the role of insurance markets under complete information. Insurance under asymmetric information, moral hazard, and adverse selection. Can insurance markets function well in a competitive equilibrium? Role of asset markets in allocating risk. How some risks corporations face are associated with price fluctuations and can be hedged in financial markets. Hedging strategies using futures markets, and options and other derivative assets. Hedging credit risks. Prerequisite: 50.
Terms: Aut
| Units: 5
| UG Reqs: WAY-AQR, WAY-FR
ECON 139D:
Directed Reading
May be repeated for credit.
Terms: Aut, Win, Spr, Sum
| Units: 1-10
| Repeatable
for credit
Instructors: ;
Abramitzky, R. (PI);
Amador, M. (PI);
Amemiya, T. (PI);
Aoki, M. (PI);
Arora, A. (PI);
Arrow, K. (PI);
Athey, S. (PI);
Attanasio, O. (PI);
Bagwell, K. (PI);
Baron, D. (PI);
Bekaert, G. (PI);
Bernheim, B. (PI);
Bhattacharya, J. (PI);
Bloom, N. (PI);
Boskin, M. (PI);
Brady, D. (PI);
Bresnahan, T. (PI);
Bulow, J. (PI);
Canellos, C. (PI);
Chaudhary, L. (PI);
Clerici-Arias, M. (PI);
Cogan, J. (PI);
Cojoc, D. (PI);
David, P. (PI);
DeGiorgi, G. (PI);
Duffie, D. (PI);
Einav, L. (PI);
Fafchamps, M. (PI);
Falcon, W. (PI);
Fitzgerald, D. (PI);
Fitzpatrick, M. (PI);
Fong, K. (PI);
Fuchs, V. (PI);
Garber, A. (PI);
Gould, A. (PI);
Goulder, L. (PI);
Greif, A. (PI);
Haak, D. (PI);
Haber, S. (PI);
Hall, R. (PI);
Hammond, P. (PI);
Hansen, P. (PI);
Hanson, W. (PI);
Hanushek, E. (PI);
Harding, M. (PI);
Harris, D. (PI);
Hartmann, W. (PI);
Henry, P. (PI);
Hickman, B. (PI);
Hong, H. (PI);
Hope, N. (PI);
Horvath, M. (PI);
Hoxby, C. (PI);
Jackson, M. (PI);
Jagolinzer, A. (PI);
Jaimovich, N. (PI);
Jayachandran, S. (PI);
Jones, C. (PI);
Jost, J. (PI);
Judd, K. (PI);
Kastl, J. (PI);
Kessler, D. (PI);
Klenow, P. (PI);
Kochar, A. (PI);
Kojima, F. (PI);
Krueger, A. (PI);
Kuran, T. (PI);
Kurz, M. (PI);
Lau, L. (PI);
Lazear, E. (PI);
Levin, J. (PI);
MaCurdy, T. (PI);
Mahajan, A. (PI);
Malmendier, U. (PI);
Manova, K. (PI);
McClellan, M. (PI);
McKinnon, R. (PI);
Meier, G. (PI);
Milgrom, P. (PI);
Miller, G. (PI);
Moser, P. (PI);
Naylor, R. (PI);
Nechyba, T. (PI);
Niederle, M. (PI);
Noll, R. (PI);
Owen, B. (PI);
Pencavel, J. (PI);
Piazzesi, M. (PI);
Pistaferri, L. (PI);
Polinsky, A. (PI);
Qian, Y. (PI);
Rangel, A. (PI);
Reiss, P. (PI);
Richards, J. (PI);
Roberts, J. (PI);
Romer, P. (PI);
Rosenberg, N. (PI);
Rossi-Hansberg, E. (PI);
Rosston, G. (PI);
Rothwell, G. (PI);
Royalty, A. (PI);
Rozelle, S. (PI);
Sargent, T. (PI);
Schaffner, J. (PI);
Schneider, M. (PI);
Segal, I. (PI);
Sharpe, W. (PI);
Shotts, K. (PI);
Shoven, J. (PI);
Singleton, K. (PI);
Skrzypacz, A. (PI);
Staiger, R. (PI);
Stanton, F. (PI);
Sweeney, J. (PI);
Taylor, J. (PI);
Tendall, M. (PI);
Tertilt, M. (PI);
Topper, M. (PI);
Vytlacil, E. (PI);
Wacziarg, R. (PI);
Weingast, B. (PI);
Wilson, R. (PI);
Wolak, F. (PI);
Wright, G. (PI);
Wright, M. (PI);
Yotopoulos, P. (PI);
Gilbert, S. (GP);
Thapar, K. (GP);
Young, M. (GP)
ECON 13SC:
Economic Policies of the Presidential Candidates
Modern finance theory. Financial instruments including stocks, bonds, options, mutual funds, and exchange-traded funds. Historical returns on asset classes. Equity analysis. Capital pricing model. Efficient market hypotheses. Index funds. Meetings with financial managers and venture capitalists.
| Units: 2
ECON 140:
Introduction to Financial Economics
Modern portfolio theory and corporate finance. Topics: present value and discounting, interest rates and yield to maturity, various financial instruments including financial futures, mutual funds, the efficient market theory, basic asset pricing theory, the capital asset pricing model, and models for pricing options and other contingent claims. Use of derivatives for hedging. Prerequisites: 51, 102A.
Terms: Win, Spr, Sum
| Units: 5
| UG Reqs: WAY-SI
ECON 141:
Public Finance and Fiscal Policy (PUBLPOL 107)
What role should and does government play in the economy? What are the effects of government expenditure, borrowing, and taxation? Policy topics: budget surpluses/deficits; tax reform; social security, public goods, and externalities; fiscal federalism; public investment; and cost-benefit analysis. Prerequisites: 51, 52.
Terms: Spr
| Units: 5
| UG Reqs: WAY-SI
ECON 144:
Family Economics
Topics at the intersection of economics and demography. Causes and consequences of historical trends such as the demographic transition, the increase in female labor force participation and its macroeconomic implications, the connection between economic development and family laws (child labor laws, women's rights), and policies affecting families and children (such as parental leave policies, social security policy, education subsidies). Economic models of household bargaining, fertility choice, and intergenerational transfers. Prerequisites: 51.
Terms: Spr
| Units: 5
ECON 145:
Labor Economics
Analysis and description of labor markets. Determination of employment, unemployment, hours of work, wages. Welfare programs and work effort. Wage differentials by schooling, experience, gender, and race. Economics of discrimination. Earnings inequality and changes in inequality. Employment contracts, labor unions, and bargaining. International comparisons. Prerequisites: 50, 51, 102B.
Terms: Aut, Win
| Units: 5
| UG Reqs: GER:EC-Gender, WAY-AQR, WAY-SI
ECON 146:
Economics of Education
How a decision to invest in education is affected by factors including ability and family background. Markets for elementary and secondary schooling; topics such as vouchers and charter schools, accountability, expenditure equalization among schools, and the teacher labor market.The market for college education emphasizing how college tuition is determined, and whether students are matched efficiently with colleges. How education affects economic growth, focusing on developing countries. Theory and empirical results. Application of economics from fields such as public economics, labor economics, macroeconomics, and industrial organization. Prerequisites: 50, 102B.
Terms: Spr
| Units: 5
| UG Reqs: WAY-SI
ECON 147:
Economics of Human Resources
Investments in human capital including education, on-the-job training, government training, and health. The effects of human capital accumulation on wages and wage growth and on wage differentials by gender and race. Sample selections and experimental data. Poverty and inequality. Optional research project for public policy organization on labor market/human resources issues. Prerequisite: 51.
Terms: Win
| Units: 5
| UG Reqs: WAY-SI
ECON 150:
Economic Policy Analysis (PUBLPOL 104, PUBLPOL 204)
The relationship between microeconomic analysis and public policy making. How economic policy analysis is done and why political leaders regard it as useful but not definitive in making policy decisions. Economic rationales for policy interventions, methods of policy evaluation and the role of benefit-cost analysis, economic models of politics and their application to policy making, and the relationship of income distribution to policy choice. Theoretical foundations of policy making and analysis, and applications to program adoption and implementation. Prerequisite: ECON 50.
Terms: Win
| Units: 5
| UG Reqs: WAY-AQR
ECON 151:
Path Dependence in Private Action and Public Policy: Decision Making in the Shadow of History (PUBLPOL 130)
The historically contingent development of economic, social, and political behaviors at micro and macro levels. History's role in individual and organizational decision making. When can extraneous events have persisting effects upon public institutions, private organizations, and government agencies? Science and technology policy making; precedent-based judicial and administrative proceedings; and institutional reforms and regulatory initiatives illustrate positive feedback dynamics; self-organization and emergent properties in complex systems; conditions of lock-in to and escapes from sub-optimal equilibria in economic and social arrangements. Prerequisite: ECON 50, 51. Recommended: Completion of at least one upper level economics course.
Terms: Win
| Units: 3-5
ECON 153:
Economics of the Internet
Applications of microeconomic theory to Internet businesses: auctions, online transactions, entry barriers, valuation, pricing of facilities, policy for broadband communications, network economics, standards, economics of information. Prerequisites: 51 and one of 102B, 103, 104, 113, 135, 137, 140, 149, 157, or 160.
Last offered: Autumn 2007
| Units: 5
| UG Reqs: WAY-SI
ECON 154:
Economics of Legal Rules and Institutions (PUBLPOL 106, PUBLPOL 206)
Design and consequences of laws, given alternative policy objectives. Welfarist approach to legal policy; deontological perspectives including Kant, Locke, Mill, and Rawls. Economic efficiency and agent rationality, law as mitigation of market and cognitive failures, effects of law on expectations and incentives, balancing costs of type I and type II legal errors. Empirical studies of law's effects. Applications: property, tort, contract, antitrust, discrimination, crime, legal procedure. Examples chiefly from U.S. law, but analytical tools of general applicability. Prerequisite: ECON 50.
Terms: Aut
| Units: 5
| UG Reqs: WAY-SI
ECON 155:
Environmental Economics and Policy
Economic sources of environmental problems and alternative policies for dealing with them (technology standards, emissions taxes, and marketable pollution permits). Evaluation of policies addressing regional air pollution, global climate change, water allocation in the western U.S., and the use of renewable resources. Connections between population growth, economic output, environmental quality, and human welfare. Prerequisite: ECON 50.
Terms: Win
| Units: 5
| UG Reqs: GER: DB-NatSci, WAY-SI
ECON 156:
Cooperative and Regulatory Approaches to Environmental Policy
Economic, political, and institutional frameworks for understanding the causes and potential solutions to environmental problems. Environmental policy formation, implementation and evaluation; environmental markets and taxes. Applications include: mitigating climate change, protecting biodiversity, managing fisheries, and maintaining water and air quality. Prerequisite: Econ 50 or consent of instuctor.
Terms: Spr
| Units: 5
| UG Reqs: WAY-SI
ECON 157:
Imperfect Competition
The interaction between firms and consumers in markets that fall outside the benchmark competitive model. How firms acquire and exploit market power. Game theory and information economics to analyze how firms interact strategically. Topics include monopoly, price discrimination, oligopoly, collusion and cartel behavior, anti-competitive practices, the role of information in markets, anti-trust policy, and e-commerce. Sources include theoretical models, real-world examples, and empirical papers. Prerequisite: 51.
Terms: Win
| Units: 5
| UG Reqs: WAY-SI
ECON 158:
Regulatory Economics
The history, economics, and legal background of the institutions under which U.S. industry is subject to government control. Topics: economics and practice of public utility regulation in the communications, television, transportation, energy, and postal delivery sectors and health and safety regulation. Emphasis on the application of economic concepts in evaluating the performance and policies of government agencies. Antitrust law will be introduced and discussed where necessary. Prerequisite: 51or equivalent intermediate microeconomics course.
Terms: Win
| Units: 5
| UG Reqs: WAY-SI
ECON 160:
Game Theory and Economic Applications
Mathematical introduction to game theory and its applications to economics. Topics: strategic and extensive form games, Nash equilibrium, subgame-perfect equilibrium, Bayesian equilibrium, and perfect Bayesian equilibrium. The theory is applied to repeated games, auctions, and bargaining. Examples from economics and political science. Prerequisites: 51 and course in calculus, or consent of instructor.
Last offered: Winter 2008
| Units: 5
| UG Reqs: WAY-FR, WAY-SI
ECON 162:
Monetary Economics
Dynamic analysis of the role of money and monetary policy in the macro economy, using calculus. Topics: the exchange process and the role of money; inside and outside money; inflation and the inflation tax; international monetary systems; the indeterminacy of floating exchange rates; policies to fix the exchange rate and inflationary incentives; currency crises and speculative attacks; money and interest-bearing government debt; the government¿s budget constraint and the coordination of monetary and fiscal policies; hyperinflations and stabilizations; the effect of the national debt on consumption, savings, investment and output; time consistency of government policies. Prerequisite: 52.
Last offered: Autumn 2006
| Units: 5
| UG Reqs: WAY-SI
ECON 164:
Law, Economics and Politics of International Trade (POLISCI 216)
Taught by an economist and a lawyer. Examines aspects of the WTO system from legal and economic perspectives. Integrates a careful examination of topical legal issues with theoretical and empirical research in economics to develop both positive and normative themes regarding the WTO as an international institution. Overview of the economics of international cooperation on trade, and an introduction to the WTO as an institution and its core obligations. Topics may include: the dispute resolution system; the choice between multilateral and regional or bilateral trade agreements; the role of developing countries in the WTO; and the relationship between WTO law, domestic regulation and national sovereignty. Prerequisite: Econ 51 or equivalent undergraduate microeconomics.
Terms: Win
| Units: 2-5
| UG Reqs: WAY-SI
ECON 165:
International Finance
Introduction to international macroeconomics. Topics: intertemporal approach to the current account, international investment patterns, sovereign debt, crises in international financial markets, real and nominal exchange rate determination and exchange rate policy. Prerequisite: ECON 52.
Terms: Aut, Sum
| Units: 5
| UG Reqs: WAY-SI
ECON 166:
International Trade
Comparative advantage in production and trade among nations; increasing returns, imperfect competition, and trade; the nature of the gains from trade, winners, and losers; international migration and multinational companies; trade policy and international trade agreements; theory and evidence. Prerequisite: 51.
Terms: Win
| Units: 5
| UG Reqs: WAY-SI
ECON 168:
Topics in International Finance (ECON 268)
(Graduate students register for 268.) Monetary foundations of international exchange; the rules of the game since Bretton Woods. Foreign exchange risk under the world dollar standard. Hedging, forward covering, and interest parity relationships. International capital flows and the current account. Global trade imbalances; China and Japan versus the U.S. Inflation versus exchange rate targeting in developing countries. Prerequisite for undergraduates: 52; recommended: 165.
Terms: Win
| Units: 5
| UG Reqs: WAY-SI
ECON 179:
Experimental Economics
Methods and major subject areas that have been addressed by laboratory experiments. Focus is on a series of experiments that build on one another. Topics include decision making, two player games, auctions, and market institutions. How experiments are used to learn about preferences and behavior, trust, fairness, and learning. Final presentation of group projects. Prerequisites: 50, 51, 102A.
Terms: Win
| Units: 5
| UG Reqs: WAY-AQR, WAY-SI
ECON 190:
Introduction to Financial Accounting (ECON 90)
How to read, understand, and use corporate financial statements. Oriented towards the use of financial accounting information (rather than the preparer), and emphasizes the reconstruction of economic events from published accounting reports.
Terms: Aut, Win
| Units: 5
| UG Reqs: WAY-AQR
ECON 191:
Introduction to Cost Accounting (ECON 91)
The use of internal financial data for managerial decision making.
Terms: Spr
| Units: 5
| UG Reqs: WAY-AQR
ECON 198:
Junior Honors Seminar (PUBLPOL 197)
Primarily for students who expect to write an honors thesis. Weekly sessions discuss writing an honors thesis proposal (prospectus), submitting grant applications, and completing the honors thesis. Readings focus on writing skills and research design. Students select an adviser, outline a program of study for their senior year, and complete a prospectus by the end of the quarter. Enrollment limited to 25.
Terms: Win, Spr
| Units: 5
ECON 199D:
Honors Thesis Research
In-depth study of an appropriate question and completion of a thesis of very high quality. Normally written under the direction of a member of the Department of Economics (or some closely related department). See description of honors program. Register for at least 1 unit for at least one quarter. Meets first week of Autumn Quarter (see Stanford Daily for details).
Terms: Aut, Win, Spr, Sum
| Units: 1-10
| Repeatable
for credit
Instructors: ;
Abramitzky, R. (PI);
Amador, M. (PI);
Amemiya, T. (PI);
Aoki, M. (PI);
Arora, A. (PI);
Arrow, K. (PI);
Athey, S. (PI);
Attanasio, O. (PI);
Bagwell, K. (PI);
Baron, D. (PI);
Bekaert, G. (PI);
Bernheim, B. (PI);
Bhattacharya, J. (PI);
Bloom, N. (PI);
Boskin, M. (PI);
Brady, D. (PI);
Bresnahan, T. (PI);
Bulow, J. (PI);
Canellos, C. (PI);
Chaudhary, L. (PI);
Clerici-Arias, M. (PI);
Cogan, J. (PI);
Cojoc, D. (PI);
David, P. (PI);
DeGiorgi, G. (PI);
Duffie, D. (PI);
Einav, L. (PI);
Fafchamps, M. (PI);
Falcon, W. (PI);
Fitzgerald, D. (PI);
Fitzpatrick, M. (PI);
Fong, K. (PI);
Fuchs, V. (PI);
Garber, A. (PI);
Gould, A. (PI);
Goulder, L. (PI);
Greif, A. (PI);
Haak, D. (PI);
Haber, S. (PI);
Hall, R. (PI);
Hammond, P. (PI);
Hansen, P. (PI);
Hanson, W. (PI);
Hanushek, E. (PI);
Harding, M. (PI);
Harris, D. (PI);
Hartmann, W. (PI);
Henry, P. (PI);
Hickman, B. (PI);
Hong, H. (PI);
Hope, N. (PI);
Horvath, M. (PI);
Hoxby, C. (PI);
Jackson, M. (PI);
Jagolinzer, A. (PI);
Jaimovich, N. (PI);
Jayachandran, S. (PI);
Jones, C. (PI);
Jost, J. (PI);
Judd, K. (PI);
Kastl, J. (PI);
Kessler, D. (PI);
Klenow, P. (PI);
Kochar, A. (PI);
Kojima, F. (PI);
Krueger, A. (PI);
Kuran, T. (PI);
Kurz, M. (PI);
Lau, L. (PI);
Lazear, E. (PI);
Levin, J. (PI);
MaCurdy, T. (PI);
Mahajan, A. (PI);
Malmendier, U. (PI);
Manova, K. (PI);
McClellan, M. (PI);
McKinnon, R. (PI);
Meier, G. (PI);
Milgrom, P. (PI);
Miller, G. (PI);
Moser, P. (PI);
Naylor, R. (PI);
Nechyba, T. (PI);
Niederle, M. (PI);
Noll, R. (PI);
Owen, B. (PI);
Pencavel, J. (PI);
Piazzesi, M. (PI);
Pistaferri, L. (PI);
Polinsky, A. (PI);
Qian, Y. (PI);
Rangel, A. (PI);
Reiss, P. (PI);
Richards, J. (PI);
Roberts, J. (PI);
Romer, P. (PI);
Rosenberg, N. (PI);
Rossi-Hansberg, E. (PI);
Rosston, G. (PI);
Rothwell, G. (PI);
Royalty, A. (PI);
Rozelle, S. (PI);
Sargent, T. (PI);
Schaffner, J. (PI);
Schneider, M. (PI);
Segal, I. (PI);
Sharpe, W. (PI);
Shotts, K. (PI);
Shoven, J. (PI);
Singleton, K. (PI);
Skrzypacz, A. (PI);
Staiger, R. (PI);
Stanton, F. (PI);
Sweeney, J. (PI);
Taylor, J. (PI);
Tendall, M. (PI);
Tertilt, M. (PI);
Topper, M. (PI);
Vytlacil, E. (PI);
Wacziarg, R. (PI);
Weingast, B. (PI);
Wilson, R. (PI);
Wolak, F. (PI);
Wright, G. (PI);
Wright, M. (PI);
Yotopoulos, P. (PI);
Gilbert, S. (GP);
Thapar, K. (GP);
Young, M. (GP)
ECON 202:
Core Economics: Modules 1 and 2
(Non-Economics graduate students register for 202N.) Open to advanced undergraduates with consent of instructors. Theory of the consumer and the implications of constrained maximization; uses of indirect utility and expenditure functions; theory of the producer, profit maximization, and cost minimization; behavior under uncertainty; partial equilibrium analysis and introduction to models of general equilibrium. Limited enrollment. Prerequisite: thorough understanding of the elements of multivariate calculus and linear algebra.
Terms: Aut
| Units: 2-5
ECON 202N:
202 For Non-Economics Ph.D. Students
Core Economics modules 1 and 2 for non-Economics Ph.D. students.
Terms: Aut
| Units: 2-5
ECON 203:
Core Economics: Modules 5 and 6
(Non-Economics graduate students register for 203N.) Non-cooperative game theory including normal and extensive forms, solution concepts, games with incomplete information, and repeated games. Externalities and public goods. The theory of imperfect competition: static Bertrand and Cournot competition, dynamic oligopoly, entry decisions, entry deterrence, strategic behavior to alter market conditions. Limited enrollment. Prerequisite: 202.
Terms: Win
| Units: 2-5
ECON 203N:
203 For Non-Economics Ph.D. Students
Non-cooperative game theory including normal and extensive forms, solution concepts, games with incomplete information, and repeated games. Externalities, public goods, and asymmetric information. The theory of imperfect competition and other applications. Limited enrollment. Prerequisite: 202N or consent of instructor.
Terms: Win
| Units: 2-5
ECON 204:
Core Economics: Modules 9 and 10
The theory of contracts, emphasizing contractual incompleteness and the problem of moral hazard. Incentive regulation. Competition with imperfect information, including signaling and adverse selection. The theory of resource allocation over time, competitive equilibrium, and intertemporal efficiency. Limited enrollment. Prerequisite: 203.
Terms: Spr
| Units: 2-5
ECON 210:
Core Economics: Modules 3 and 7
Dynamic economics applied to aggregate economic fluctuations and economic growth. Solving dynamic, stochastic rational expectation models using discrete time dynamic programming. Growth theory (neoclassical models, growth accounting, technical change, endogenous growth) using optimal control theory. Limited enrollment.
Terms: Aut
| Units: 2-5
ECON 211:
Core Economics: Modules 11 and 12
Capital asset pricing models, equilibrium with securities, pricing of securities, and arbitrage. Overlapping generations models with incomplete market structure and sunspots. Foundations of Bayesian dynamic learning. Investment theory and empirics, including adjustment costs and the q theory; consumption theory and empirics, focusing on the life-cycle model; and the labor market. Limited enrollment. Prerequisite: 210.
Terms: Win
| Units: 2-5
ECON 212:
Core Economics: Modules 4 and 8
Monetary theory: economic fluctuations, the role of money (overlapping generations, cash in advance, money in the utility function), dynamic impact of changes in money on the economy, natural rate of unemployment and job creation/destruction, exchange rate determination, international transmission of money, dynamic stochastic general equilibrium models. Macroeconomic policy: rationale for central bank independence, time inconsistency, the impact of public debt, rules versus discretion, interest rate versus money rules, international monetary policy coordination, rational expectations, econometric policy evaluation. Limited enrollment. Prerequisites: 203, 211.
Terms: Spr
| Units: 2-5
ECON 214:
Development Economics I
Microeconomic analysis of markets and institutions in developing countries. Topics: the role of the household; health and nutrition; education; property rights; governance; and technology. Emphasis is on empirical tests of and evidence for theoretical models. Prerequisites: 202 or 202N, 270.
Terms: Aut
| Units: 2-5
ECON 215:
Economic Development
Terms: Win
| Units: 2-5
ECON 216:
Development Economics III
Use of quantitative theory to understand various aspects of the growth and development process. Emphasis on family and demographic issues and their importance for development. Theoretical models of fertility and marriage decisions, and their empirical relevance. Unified growth theories: demographic transition and industrial revolution. Family institutions such as marriage payments and polygamy. The political economy of family-related institutions, e.g. the evolution of women's and children's rights. Female labor supply and development. Theories of disease and development. Prerequisite: 202, 203, 204, 210, 211, 212, 270, 271, 272.
Terms: Spr
| Units: 2-5
ECON 221:
Political Economy II
Continuation of 220. Preparation for advanced research in applied political economy. Focus is on econometric methods (panel data, IV, treatment estimation, nonlinear models, random coefficients, duration models, factor analysis) with applications to economic and political development, economic voting, war and economic interdependence, corruption, legislative behavior, and social networks.
| Units: 2-5
ECON 225:
Economics of Technology and Innovation
Theoretical and empirical analysis of innovation. Topics include optimal design of patents laws and alternative mechanisms to create incentives for innovation, such as technology transfer to developing countries, (compulsory) licensing, and patent pools. Emphasis on empirical analyses of both historical and contemporary data.
Terms: Spr
| Units: 2-5
ECON 226:
U.S. Economic History
The role of economic history as a distinctive approach to the study of economics, using illustrations from U.S. history. Topics: historical and institutional foundations of the U.S. rise to world economic preeminence; economic causes and consequences of slavery; the origins and character of national systems of technology; the Great Depression of the 30s.
Terms: Aut
| Units: 2-5
ECON 227:
European Economic History
European economic history from middle ages to the twentieth century. Topics: competing hypotheses in explaining long term trends in economic growth and cross-country differences in long-term economic growth; formation, function, and persistence of institutions and organizations; the role of institutions and organizations (e.g. apprenticeship, servitude, partnerships, cooperatives, social networks, share cropping, and communes) as solutions to contractual problems; the economics of migration; the changing economic role of the family. Use of economic theory in guiding hypothesis testing, as well as construction of new datasets and the execution of empirical analysis.
Terms: Aut
| Units: 2-5
ECON 228:
Institutions and Organizations in Historical Perspective
Emphasis is on the formative period from the 11th to 18th centuries. Formation, function, and evolution of institutions; alternative conceptual frameworks such as neoclassical, transaction cost economics, institutionalism, and Marxism and neo-Marxism; game theory, mechanism design, and contract theory. Institutions related to trade organization, the organization of production, feudalism, mercantilism, and the state.
Terms: Win
| Units: 2-5
ECON 229:
Topics in Economic History
Emphasis is on institutions and organizations, such as risk-sharing organizations, and property rights, such as patent laws and their effects on technological change and economic growth. Topics include: competing hypotheses for cross-country differences in long-term growth; the importance of institutions to economic growth; formation, function, and persistence of institutions and organizations; role of patent laws in creating incentives for innovation; informal networks as a mechanism to trade property rights; causes and effects of institutional change; tests of contract theory in history; and long-term migration and its effect on economic development.
Last offered: Winter 2008
| Units: 2-5
| Repeatable
for credit
ECON 233:
Advanced Macroeconomics I
Recent research on the theory and empirical analysis of economic fluctuations, with emphasis on the recent crisis. Coverage and application of modern numerical tools that are used in this literature. Study of different micro datasets that enhance our understanding of economic fluctuations.
Terms: Aut
| Units: 2-5
ECON 234:
Advanced Macroeconomics II
Current research in growth and development. Classic growth models (e.g. Romer, Lucas); recent models by Acemoglu, Aghion, and others. Covers diverse mix of evidence across industries and firms (not just countries) to test and quantify theoretical predictions. Topics: role of physical capital, human capital, technological change, allocative efficiency and openness in explaining long run growth and development facts.
Terms: Win
| Units: 2-5
ECON 235:
Advanced Macroeconomics III
Current topics to prepare student for research in the field. Recent research in labor-market friction, reallocation, fluctuations, wage and price determination, innovation, and productivity growth. Research methods, presentations skills, and writing in advanced economics.
Terms: Spr
| Units: 2-5
ECON 236:
Financial Economics I
Tools: solving choice problems and equilibrium models with multiple risky assets, many agents, and frictions. Applications: household finance (including housing and mortgage choice); risk sharing and financial innovation; economies; trading volume; international capital flows and financial market integration.
Terms: Win
| Units: 2-5
| Repeatable
1 times
(up to 5 units total)
ECON 237:
Financial Economics II
Topics in financial Economics. Discussion of recent academic papers on asset pricing. Student presentations and course paper requirement. Designed for second year PhD students in economics or finance.
Terms: Spr
| Units: 2-5
ECON 239D:
Directed Reading
May be repeated for credit.
Terms: Aut, Win, Spr, Sum
| Units: 1-10
| Repeatable
for credit
Instructors: ;
Abramitzky, R. (PI);
Amador, M. (PI);
Amemiya, T. (PI);
Aoki, M. (PI);
Arora, A. (PI);
Arrow, K. (PI);
Athey, S. (PI);
Attanasio, O. (PI);
Bagwell, K. (PI);
Baron, D. (PI);
Bekaert, G. (PI);
Bernheim, B. (PI);
Bhattacharya, J. (PI);
Bloom, N. (PI);
Boskin, M. (PI);
Brady, D. (PI);
Bresnahan, T. (PI);
Bulow, J. (PI);
Canellos, C. (PI);
Chaudhary, L. (PI);
Clerici-Arias, M. (PI);
Cogan, J. (PI);
Cojoc, D. (PI);
David, P. (PI);
DeGiorgi, G. (PI);
Duffie, D. (PI);
Einav, L. (PI);
Fafchamps, M. (PI);
Falcon, W. (PI);
Fitzgerald, D. (PI);
Fitzpatrick, M. (PI);
Fong, K. (PI);
Fuchs, V. (PI);
Garber, A. (PI);
Gould, A. (PI);
Goulder, L. (PI);
Greif, A. (PI);
Haak, D. (PI);
Haber, S. (PI);
Hall, R. (PI);
Hammond, P. (PI);
Hansen, P. (PI);
Hanson, W. (PI);
Hanushek, E. (PI);
Harding, M. (PI);
Harris, D. (PI);
Hartmann, W. (PI);
Henry, P. (PI);
Hickman, B. (PI);
Hong, H. (PI);
Hope, N. (PI);
Horvath, M. (PI);
Hoxby, C. (PI);
Jackson, M. (PI);
Jagolinzer, A. (PI);
Jaimovich, N. (PI);
Jayachandran, S. (PI);
Jones, C. (PI);
Jost, J. (PI);
Judd, K. (PI);
Kastl, J. (PI);
Kessler, D. (PI);
Klenow, P. (PI);
Kochar, A. (PI);
Kojima, F. (PI);
Krueger, A. (PI);
Kuran, T. (PI);
Kurz, M. (PI);
Lau, L. (PI);
Lazear, E. (PI);
Levin, J. (PI);
MaCurdy, T. (PI);
Mahajan, A. (PI);
Malmendier, U. (PI);
Manova, K. (PI);
McClellan, M. (PI);
McKinnon, R. (PI);
Meier, G. (PI);
Milgrom, P. (PI);
Miller, G. (PI);
Moser, P. (PI);
Naylor, R. (PI);
Nechyba, T. (PI);
Niederle, M. (PI);
Noll, R. (PI);
Owen, B. (PI);
Pencavel, J. (PI);
Piazzesi, M. (PI);
Pistaferri, L. (PI);
Polinsky, A. (PI);
Qian, Y. (PI);
Rangel, A. (PI);
Reiss, P. (PI);
Richards, J. (PI);
Roberts, J. (PI);
Romer, P. (PI);
Rosenberg, N. (PI);
Rossi-Hansberg, E. (PI);
Rosston, G. (PI);
Rothwell, G. (PI);
Royalty, A. (PI);
Rozelle, S. (PI);
Sargent, T. (PI);
Schaffner, J. (PI);
Schneider, M. (PI);
Segal, I. (PI);
Sharpe, W. (PI);
Shotts, K. (PI);
Shoven, J. (PI);
Singleton, K. (PI);
Skrzypacz, A. (PI);
Staiger, R. (PI);
Stanton, F. (PI);
Sweeney, J. (PI);
Taylor, J. (PI);
Tendall, M. (PI);
Tertilt, M. (PI);
Topper, M. (PI);
Vytlacil, E. (PI);
Wacziarg, R. (PI);
Weingast, B. (PI);
Wilson, R. (PI);
Wolak, F. (PI);
Wright, G. (PI);
Wright, M. (PI);
Yotopoulos, P. (PI);
Gilbert, S. (GP);
Thapar, K. (GP);
Young, M. (GP)
ECON 241:
Public Finance and Taxation I
Optimal taxation and design of tax/income transfer systems, including incidence and efficiency. Social welfare. Externalities and public goods. Local public economics, fiscal federalism, and education finance. Prerequisites: 202-204, 210, 270, 271, or equivalent with consent of instructor.
Terms: Aut
| Units: 2-5
ECON 242:
Public Finance and Taxation II
Topics concerning capital income taxation, including taxation and saving, taxation and risk taking, and the effects of corporate income taxation. Public expenditures, including social insurance programs and education. Prerequisites: 202, 203, 204, 210, 270, 271, or equivalent with consent of instructor. Recommended: 241.
Terms: Win
| Units: 2-5
ECON 246:
Labor Economics I
The demand for workers and hours of work, substitution among different types of labor in production, technological change, adjustment costs, restrictions on layoffs. The supply of labor, hours of work, participation, life-cycle models of behavior, welfare programs. Wage differentials by schooling, age, cohort, gender, and race. Changes in these wage differentials and differences across countries. Economics of discrimination. Income inequality. Employment contracts and turnover. Models of labor union behavior. Bargaining. Worker-owned enterprises.
Terms: Aut
| Units: 2-5
ECON 247:
Labor Economics II
Topics in current applied microeconomic research including skill-biased technical change, income distribution, program evaluation, job search, migration, consumption behavior. Student and faculty presentations.
Terms: Win
| Units: 2-5
ECON 250:
Environmental Economics
Sources of environmental problems in market economies; policy options for addressing these problems. Topics include: alternative environmental policy instruments such as taxes, standards, and tradable permits; valuation of non-marketed commodities such as environmental amenities and biodiversity; and environmental policy making under uncertainty. Applications include global climate change and green tax reform. Prerequisites: 202, 203, 204, and 271, or equivalents with consent of instructor.
Terms: Aut
| Units: 2-5
ECON 251:
Natural Resource and Energy Economics
Issues in provision and management of non-renewable and renewable natural resources, and energy products and services. Theory and empirical methods related to: market structure, pricing, and performance of important energy and resource industries; sources of market failure in these industries; and alternative regulatory approaches. Prerequisites: 202, 203, 204, 271, and 272, or equivalents with consent of instructor.
Terms: Win
| Units: 2-5
ECON 257:
Industrial Organization 1
Theoretical and empirical analyses of the determinants of market structure; firm behavior and market efficiency in oligopolies; price discrimination; price dispersion and consumer search; differentiated products; the role of information in markets, including insurance and adverse selection; auctions; collusion and cartel behavior; advertising; entry and market structure; market dynamics; strategic behavior.
Terms: Aut
| Units: 2-5
ECON 258:
Industrial Organization 2
Theoretical and empirical analyses of the determinants of market structure; firm behavior and market efficiency in oligopolies; price discrimination; price dispersion and consumer search; differentiated products; the role of information in markets, including insurance and adverse selection; auctions; collusion and cartel behavior; advertising; entry and market structure; market dynamics; strategic behavior.
Terms: Win
| Units: 2-5
ECON 260:
Industrial Organization III
Current research and policy questions in industrial organization. Course combines lectures by the instructors with student presentations, with an emphasis on initiating dissertation research in industrial organization. Prerequisites: 257, 258.
Terms: Spr
| Units: 2-5
ECON 265:
International Economics I
International macroeconomics and finance, emphasizing current research. The course is organized around the role of different types of frictions (in asset and goods markets) in explaining features of the international macroeconomy. Prerequisites: 202, 203, 204, 210, 211, 212.
Terms: Aut
| Units: 2-5
ECON 266:
International Economics II
Theory and empirics of the determinants of trade and comparative advantage, income distribution and gains from trade. Firm-level theories of trade and trade with imperfectly competitive markets. Commercial policies, the political economy of trade policy and the economics of trade agreements.
| Units: 2-5
ECON 268:
Topics in International Finance (ECON 168)
(Graduate students register for 268.) Monetary foundations of international exchange; the rules of the game since Bretton Woods. Foreign exchange risk under the world dollar standard. Hedging, forward covering, and interest parity relationships. International capital flows and the current account. Global trade imbalances; China and Japan versus the U.S. Inflation versus exchange rate targeting in developing countries. Prerequisite for undergraduates: 52; recommended: 165.
Terms: Win
| Units: 5
ECON 270:
Intermediate Econometrics I
Probability, random variables, and distributions; large sample theory; theory of estimation and hypothesis testing. Limited enrollment. Prerequisites: math and probability at the level of Chapter 2, Paul G. Hoel, Introduction to Mathematical Statistics, 5th ed.
Terms: Aut
| Units: 2-5
ECON 271:
Intermediate Econometrics II
Linear regression model, relaxation of classical-regression assumptions, simultaneous equation models, linear time series analysis. Limited enrollment. Prerequisite: 270.
Terms: Win
| Units: 2-5
ECON 272:
Intermediate Econometrics III
Continuation of 271. Nonlinear estimation, qualitative response models, limited dependent variable (Tobit) models. Limited enrollment. Prerequisite: 271.
Terms: Spr
| Units: 2-5
ECON 273:
Advanced Econometrics I
Possible topics: parametric asymptotic theory. M and Z estimators. General large sample results for maximum likelihood; nonlinear least squares; and nonlinear instrumental variables estimators including the generalized method of moments estimator under general conditions. Model selection test. Consistent model selection criteria. Nonnested hypothesis testing. Markov chain Monte Carlo methods. Nonparametric and semiparametric methods. Quantile Regression methods.
Terms: Aut
| Units: 2-5
ECON 274:
Advanced Econometrics II
(Formerly 273B); Possible topics: nonparametric density estimation and regression analysis; sieve approximation; local polynomial regression; spline regression; cross validation; indirect inference; resampling methods: bootstrap and subsampling; quantile regression; nonstandard asymptotic distribution theory; empirical processes; set identification and inference, large sample efficiency and optimality.
| Units: 2-5
ECON 276:
Limited Dependent Variables
(Formerly 274.) Parametric and semi-parametric approaches to the estimation of econometric models with discrete or limited dependent variables. Maximum likelihood, nonlinear panel data, duration models, rank estimation and index models, Bayesian approaches and MCMC. Estimation of discrete choice models with endogeneity, simulation methods and computationally intensive approaches. Estimation of social network models. Random matrix theory. Prerequisite: 273 or consent of instructor.
Terms: Win
| Units: 2-5
ECON 279:
Experimental Economics
An introduction to experimental economics, its methods, and major subject areas that have been addressed by laboratory experiments. Focus is on a series of experiments that build on one another, and allow researchers with different theoretical dispositions to narrow the range of potential disagreement. Prerequisites: 202, 203, 204, or consent of instructor.
Terms: Aut
| Units: 2-5
ECON 285:
Auctions, Bargaining, and Pricing
(Same as MGTECON 602.) Theory of auctions and related literature in bargaining and pricing. Key papers include Myerson and Satterthwaite on bargaining, Myerson on optimal auctions, and Milgrom and Weber's classic work. How markets with complicated preferences and constraints, limitations on the use of cash, or variations in contract details among bidders decisively impair the performance of simple market rules. Emphasis on matching markets such as the National Resident Matching Program, asset auctions such as the spectrum auctions. Literature on dynamic bargaining.
Terms: Aut
| Units: 2-5
ECON 289:
Advanced Topics in Game Theory and Information Economics
Topics include repeated games with informational asymmetries, including applications to collusion as well as government policy games and dynamic insurance problems; advanced topics in auction theory and mechanism design; intrapersonal games, such as self-control problems and dynamic inconsistency; information acquisition in decision problems, games, and mechanisms.
Terms: Win
| Units: 2-5
ECON 290:
Multiperson Decision Theory
dents and faculty review and present recent research papers on basic theories and economic applications of decision theory, game theory and mechanism design. Applications include market design and analyses of incentives and strategic behavior in markets, and selected topics such as auctions, bargaining, contracting, and computation.
Terms: Spr
| Units: 4
ECON 291:
Social and Economic Networks
Synthesis of research on social and economic networks by sociologists, economists, computer scientists, physicists, and mathematicians, with an emphasis on modeling. Includes methods for describing and measuring networks, empirical observations about network structure, models of random and strategic network formation, as well as analyses of contagion, diffusion, learning, peer influence, games played on networks, and networked markets.
Terms: Spr
| Units: 2-5
ECON 299:
Practical Training
Students obtain employment in a relevant research or industrial activity to enhance their professional experience consistent with their degree programs. At the start of the quarter, students must submit a one page statement showing the relevance of the employment to the degree program along with an offer letter. At the end of the quarter, a three page final report must be supplied documenting work done and relevance to degree program. May be repeated for credit.
Terms: Aut, Win, Spr, Sum
| Units: 1-10
| Repeatable
for credit
Instructors: ;
Abramitzky, R. (PI);
Amador, M. (PI);
Amemiya, T. (PI);
Aoki, M. (PI);
Arora, A. (PI);
Arrow, K. (PI);
Athey, S. (PI);
Attanasio, O. (PI);
Bagwell, K. (PI);
Baron, D. (PI);
Bekaert, G. (PI);
Bernheim, B. (PI);
Bhattacharya, J. (PI);
Bloom, N. (PI);
Boskin, M. (PI);
Brady, D. (PI);
Bresnahan, T. (PI);
Bulow, J. (PI);
Canellos, C. (PI);
Chaudhary, L. (PI);
Clerici-Arias, M. (PI);
Cogan, J. (PI);
Cojoc, D. (PI);
David, P. (PI);
DeGiorgi, G. (PI);
Duffie, D. (PI);
Einav, L. (PI);
Fafchamps, M. (PI);
Falcon, W. (PI);
Fitzgerald, D. (PI);
Fitzpatrick, M. (PI);
Fong, K. (PI);
Fuchs, V. (PI);
Garber, A. (PI);
Gould, A. (PI);
Goulder, L. (PI);
Greif, A. (PI);
Haak, D. (PI);
Haber, S. (PI);
Hall, R. (PI);
Hammond, P. (PI);
Hansen, P. (PI);
Hanson, W. (PI);
Hanushek, E. (PI);
Harding, M. (PI);
Harris, D. (PI);
Hartmann, W. (PI);
Henry, P. (PI);
Hickman, B. (PI);
Hong, H. (PI);
Hope, N. (PI);
Horvath, M. (PI);
Hoxby, C. (PI);
Jackson, M. (PI);
Jagolinzer, A. (PI);
Jaimovich, N. (PI);
Jayachandran, S. (PI);
Jones, C. (PI);
Jost, J. (PI);
Judd, K. (PI);
Kastl, J. (PI);
Kessler, D. (PI);
Klenow, P. (PI);
Kochar, A. (PI);
Kojima, F. (PI);
Krueger, A. (PI);
Kuran, T. (PI);
Kurz, M. (PI);
Lau, L. (PI);
Lazear, E. (PI);
Levin, J. (PI);
MaCurdy, T. (PI);
Mahajan, A. (PI);
Malmendier, U. (PI);
Manova, K. (PI);
McClellan, M. (PI);
McKinnon, R. (PI);
Meier, G. (PI);
Milgrom, P. (PI);
Miller, G. (PI);
Moser, P. (PI);
Naylor, R. (PI);
Nechyba, T. (PI);
Niederle, M. (PI);
Noll, R. (PI);
Owen, B. (PI);
Pencavel, J. (PI);
Piazzesi, M. (PI);
Pistaferri, L. (PI);
Polinsky, A. (PI);
Qian, Y. (PI);
Rangel, A. (PI);
Reiss, P. (PI);
Richards, J. (PI);
Roberts, J. (PI);
Romer, P. (PI);
Rosenberg, N. (PI);
Rossi-Hansberg, E. (PI);
Rosston, G. (PI);
Rothwell, G. (PI);
Royalty, A. (PI);
Rozelle, S. (PI);
Sargent, T. (PI);
Schaffner, J. (PI);
Schneider, M. (PI);
Segal, I. (PI);
Sharpe, W. (PI);
Shotts, K. (PI);
Shoven, J. (PI);
Singleton, K. (PI);
Skrzypacz, A. (PI);
Staiger, R. (PI);
Stanton, F. (PI);
Sweeney, J. (PI);
Taylor, J. (PI);
Tendall, M. (PI);
Tertilt, M. (PI);
Topper, M. (PI);
Vytlacil, E. (PI);
Wacziarg, R. (PI);
Weingast, B. (PI);
Wilson, R. (PI);
Wolak, F. (PI);
Wright, G. (PI);
Wright, M. (PI);
Yotopoulos, P. (PI);
Gilbert, S. (GP);
Thapar, K. (GP);
Young, M. (GP)
ECON 300:
Third-Year Seminar
Restricted to Economics Ph.D. students. Students present current research. May be repeated for credit.
Terms: Aut, Spr
| Units: 1-10
| Repeatable
for credit
ECON 305:
Economic Applications Workshop
Terms: Aut, Win, Spr
| Units: 1-10
| Repeatable
for credit
ECON 310:
Macroeconomic Workshop
Terms: Aut, Win, Spr
| Units: 1-10
| Repeatable
for credit
Instructors: ;
Amador, M. (PI);
Bloom, N. (PI);
Hall, R. (PI);
Klenow, P. (PI);
Kurz, M. (PI);
Piazzesi, M. (PI);
Schneider, M. (PI);
Taylor, J. (PI);
Tertilt, M. (PI);
Carson, K. (GP);
Gilbert, S. (GP)
ECON 315:
Development Workshop
Terms: Aut, Win, Spr
| Units: 1-10
| Repeatable
for credit
ECON 320:
Political Economy Workshop
May be repeated for credit.
Terms: Aut, Win, Spr
| Units: 1-10
| Repeatable
for credit
ECON 325:
Economic History Workshop
May be repeated for credit.
Terms: Aut, Win, Spr
| Units: 1-10
| Repeatable
for credit
ECON 341:
Public Economics and Environmental Economics Seminar
Issues in measuring and evaluating the economic performance of government tax, expenditure, debt, and regulatory policies; their effects on levels and distribution of income, wealth, and environmental quality; alternative policies and methods of evaluation. Workshop format combines student research, faculty presentations, and guest speakers. Prerequisite: 241 or consent of instructor.
Terms: Aut, Win, Spr
| Units: 1-10
| Repeatable
for credit
ECON 345:
Applications Workshop
Terms: Aut, Win, Spr
| Units: 1-10
| Repeatable
for credit
ECON 354:
Workshop in Law and Economics
Terms: Aut, Win
| Units: 2-6
ECON 355:
Industrial Organization Workshop
Current research in the field by visitors, presentations by students, and discussion of recent papers. Students write an original research paper, make a formal presentation, and lead a structured discussion.
Terms: Aut, Win, Spr
| Units: 1-10
| Repeatable
for credit
ECON 365:
International Trade Workshop
Terms: Aut, Win, Spr
| Units: 1-10
| Repeatable
for credit
ECON 370:
Econometrics Workshop
Terms: Aut, Win, Spr
| Units: 1-10
| Repeatable
for credit
ECON 391:
Microeconomic Theory Seminar
Game theoretic (classic and evolutionary analysis of institutions as multiple equilibria). Norms, social embeddedness, organizations as conventions, contract enforcement and corporate governance mechanisms, and states. Institutional complementaries and diachronic institutional linkage. May be repeated for credit.
Terms: Aut, Win, Spr
| Units: 1-10
| Repeatable
for credit
ECON 400:
Ph.D. Dissertation
(Staff)
Terms: Sum
| Units: 1-15
| Repeatable
for credit
Terms: Aut
| Units: 0
| Repeatable
for credit
Instructors: ;
Abramitzky, R. (PI);
Amador, M. (PI);
Amemiya, T. (PI);
Aoki, M. (PI);
Arora, A. (PI);
Arrow, K. (PI);
Athey, S. (PI);
Attanasio, O. (PI);
Baron, D. (PI);
Bekaert, G. (PI);
Bernheim, B. (PI);
Bhattacharya, J. (PI);
Bloom, N. (PI);
Boskin, M. (PI);
Brady, D. (PI);
Bresnahan, T. (PI);
Bulow, J. (PI);
Canellos, C. (PI);
Clerici-Arias, M. (PI);
Cojoc, D. (PI);
David, P. (PI);
DeGiorgi, G. (PI);
Duffie, D. (PI);
Einav, L. (PI);
Fafchamps, M. (PI);
Falcon, W. (PI);
Fitzgerald, D. (PI);
Fitzpatrick, M. (PI);
Fuchs, V. (PI);
Garber, A. (PI);
Gould, A. (PI);
Goulder, L. (PI);
Greif, A. (PI);
Haak, D. (PI);
Haber, S. (PI);
Hall, R. (PI);
Hammond, P. (PI);
Hansen, P. (PI);
Hanson, W. (PI);
Hanushek, E. (PI);
Harding, M. (PI);
Harris, D. (PI);
Hartmann, W. (PI);
Henry, P. (PI);
Hickman, B. (PI);
Hong, H. (PI);
Hope, N. (PI);
Horvath, M. (PI);
Hoxby, C. (PI);
Jackson, M. (PI);
Jagolinzer, A. (PI);
Jaimovich, N. (PI);
Jayachandran, S. (PI);
Jones, C. (PI);
Jost, J. (PI);
Judd, K. (PI);
Kastl, J. (PI);
Kessler, D. (PI);
Klenow, P. (PI);
Kochar, A. (PI);
Kojima, F. (PI);
Krueger, A. (PI);
Kuran, T. (PI);
Kurz, M. (PI);
Lau, L. (PI);
Lazear, E. (PI);
Levin, J. (PI);
MaCurdy, T. (PI);
Mahajan, A. (PI);
Malmendier, U. (PI);
Manova, K. (PI);
McClellan, M. (PI);
McKinnon, R. (PI);
Meier, G. (PI);
Milgrom, P. (PI);
Miller, G. (PI);
Moser, P. (PI);
Naylor, R. (PI);
Nechyba, T. (PI);
Niederle, M. (PI);
Noll, R. (PI);
Owen, B. (PI);
Pencavel, J. (PI);
Pistaferri, L. (PI);
Polinsky, A. (PI);
Qian, Y. (PI);
Rangel, A. (PI);
Reiss, P. (PI);
Richards, J. (PI);
Roberts, J. (PI);
Romer, P. (PI);
Rosenberg, N. (PI);
Rossi-Hansberg, E. (PI);
Rosston, G. (PI);
Rothwell, G. (PI);
Royalty, A. (PI);
Rozelle, S. (PI);
Sargent, T. (PI);
Schaffner, J. (PI);
Segal, I. (PI);
Sharpe, W. (PI);
Shotts, K. (PI);
Shoven, J. (PI);
Singleton, K. (PI);
Skrzypacz, A. (PI);
Staiger, R. (PI);
Stanton, F. (PI);
Sweeney, J. (PI);
Taylor, J. (PI);
Tendall, M. (PI);
Tertilt, M. (PI);
Topper, M. (PI);
Vytlacil, E. (PI);
Wacziarg, R. (PI);
Weingast, B. (PI);
Wilson, R. (PI);
Wolak, F. (PI);
Wright, G. (PI);
Wright, M. (PI);
Yotopoulos, P. (PI);
Gilbert, S. (GP);
Thapar, K. (GP)
ECON 802:
TGR Dissertation
Terms: Aut, Win, Spr, Sum
| Units: 0
| Repeatable
for credit
Instructors: ;
Abramitzky, R. (PI);
Amador, M. (PI);
Amemiya, T. (PI);
Aoki, M. (PI);
Arora, A. (PI);
Arrow, K. (PI);
Athey, S. (PI);
Attanasio, O. (PI);
Bagwell, K. (PI);
Baron, D. (PI);
Bekaert, G. (PI);
Bernheim, B. (PI);
Bhattacharya, J. (PI);
Bloom, N. (PI);
Boskin, M. (PI);
Brady, D. (PI);
Bresnahan, T. (PI);
Bulow, J. (PI);
Canellos, C. (PI);
Chaudhary, L. (PI);
Clerici-Arias, M. (PI);
Cogan, J. (PI);
Cojoc, D. (PI);
David, P. (PI);
DeGiorgi, G. (PI);
Duffie, D. (PI);
Einav, L. (PI);
Fafchamps, M. (PI);
Falcon, W. (PI);
Fitzgerald, D. (PI);
Fitzpatrick, M. (PI);
Fong, K. (PI);
Fuchs, V. (PI);
Garber, A. (PI);
Gould, A. (PI);
Goulder, L. (PI);
Greif, A. (PI);
Haak, D. (PI);
Haber, S. (PI);
Hall, R. (PI);
Hammond, P. (PI);
Hansen, P. (PI);
Hanson, W. (PI);
Hanushek, E. (PI);
Harding, M. (PI);
Harris, D. (PI);
Hartmann, W. (PI);
Henry, P. (PI);
Hickman, B. (PI);
Hong, H. (PI);
Hope, N. (PI);
Horvath, M. (PI);
Hoxby, C. (PI);
Jackson, M. (PI);
Jagolinzer, A. (PI);
Jaimovich, N. (PI);
Jayachandran, S. (PI);
Jones, C. (PI);
Jost, J. (PI);
Judd, K. (PI);
Kastl, J. (PI);
Kessler, D. (PI);
Klenow, P. (PI);
Kochar, A. (PI);
Kojima, F. (PI);
Krueger, A. (PI);
Kuran, T. (PI);
Kurz, M. (PI);
Lau, L. (PI);
Lazear, E. (PI);
Levin, J. (PI);
MaCurdy, T. (PI);
Mahajan, A. (PI);
Malmendier, U. (PI);
Manova, K. (PI);
McClellan, M. (PI);
McKinnon, R. (PI);
Meier, G. (PI);
Milgrom, P. (PI);
Miller, G. (PI);
Moser, P. (PI);
Naylor, R. (PI);
Nechyba, T. (PI);
Niederle, M. (PI);
Noll, R. (PI);
Owen, B. (PI);
Pencavel, J. (PI);
Piazzesi, M. (PI);
Pistaferri, L. (PI);
Polinsky, A. (PI);
Qian, Y. (PI);
Rangel, A. (PI);
Reiss, P. (PI);
Richards, J. (PI);
Roberts, J. (PI);
Romer, P. (PI);
Rosenberg, N. (PI);
Rossi-Hansberg, E. (PI);
Rosston, G. (PI);
Rothwell, G. (PI);
Royalty, A. (PI);
Rozelle, S. (PI);
Sargent, T. (PI);
Schaffner, J. (PI);
Schneider, M. (PI);
Segal, I. (PI);
Sharpe, W. (PI);
Shotts, K. (PI);
Shoven, J. (PI);
Singleton, K. (PI);
Skrzypacz, A. (PI);
Staiger, R. (PI);
Stanton, F. (PI);
Sweeney, J. (PI);
Taylor, J. (PI);
Tendall, M. (PI);
Tertilt, M. (PI);
Topper, M. (PI);
Vytlacil, E. (PI);
Wacziarg, R. (PI);
Weingast, B. (PI);
Wilson, R. (PI);
Wolak, F. (PI);
Wright, G. (PI);
Wright, M. (PI);
Yotopoulos, P. (PI);
Gilbert, S. (GP);
Thapar, K. (GP);
Young, M. (GP)
ECON 115:
European Economic History
Economic changes and growth in W. Europe from antiquity to the present. The transformation of Europe from an economically and culturally backward part of the world to the center of the pre-WW I world economy. Topics: the role of techniques and sciences, variations of the extent of market activities, institutional changes, international politics, demography. Prerequisites: 51, 52.
| Units: 5
| UG Reqs: GER:DB-SocSci
ECON 117:
Economic History and Modernization of the Islamic Middle East
From the rise of Islam to the present. Transformation of region from economically advanced to underdeveloped. Role of religion in economic successes and failures. Current obstacles to development. Topics: Islamic economic institutions; innovation and change; political economy of modernization; interactions with other regions; and economic consequences of Islamism. Prerequisites: ECON 51, 52, 102B.
| Units: 5
ECON 120:
Socialist Economies in Transition
Privatization, restructuring, and institutional change in E. Europe and the former Soviet Union. Analysis of property rights, corporate governance, incentives, and resource allocation in socialist and transitional economies. Emphasis is on liberalization and privatization policies (including mass and voucher programs) as the primary instruments to induce changes in behavior. Prerequisite: 50. Recommended: 51.
| Units: 5
ECON 124:
Contemporary Japanese Economy
Comparative and historical perspective. Micro and institutional aspects, such as firms, the employment system, corporate governance and financial institutions, and the macro economy. Elementary applications of macro- and microeconomics. Prerequisite: 50.
| Units: 5
| UG Reqs: GER:EC-GlobalCom
ECON 169:
International Financial Markets and Monetary Institutions (ECON 269)
(Graduate students register for 269.) How nations are linked financially through money, capital, and exchange markets, emphasizing policy issues including the role of the International Monetary Fund, monetary and exchange rate policy, prevention and resolution of financial crises in emerging markets, current account imbalances, and capital mobility. Development and use of macroeconomic models of international financial linkages and microeconomic models of hedging, optimal selection of currencies for invoice and trade credit, and parity relationships in futures, swaps, and options markets. Prerequisite: 165.
| Units: 5
ECON 220:
Political Economy I
Positive and normative theories of political economy. Positive topics include direct democracy, electoral competition, legislative policy making, agenda setting, lobbying, comparative constitutions, and intergenerational politics, with applications to income taxation, redistribution, and the size of government. Normative topics include social choice theory with and without interpersonal comparisons, Pareto efficiency with public goods, potential Pareto improvements, welfare measurement, cost benefit analysis, and analysis of economic policy reform.
| Units: 2-5
ECON 224:
Science, Technology, and Economic Growth
Upper-division undergraduates may enroll with consent of instructor. The roles played by the growth of scientific knowledge and technical progress in the development of industrial societies. Emphasis is on the interactions between science and technology, and the organizational factors which have influenced their effectiveness in contributing to productivity growth.
| Units: 2-5
ECON 244:
Psychology and Economics
Experimental and field evidence related to the psychological mechanisms behind static choice, intertemporal choice, choice under risk and uncertainty, choice in social situations, and hedonics. Models of economic choice based on these findings, and how they improve the explanatory and predictive value of standard theories. Prerequisites: 204, 271, or consent of instructor.
| Units: 2-5
ECON 267:
Topics in International Trade
Core theoretical and empirical topics in international trade. Classic general equilibrium including comparative advantage, gains from trade and Ricardian, Heckscher-Ohlin and monopolistic competition models, and accompanying evidence. Theory and empirics of trade policy with emphasis on economics of trade agreements.
| Units: 2-5
ECON 269:
International Financial Markets and Monetary Institutions (ECON 169)
(Graduate students register for 269.) How nations are linked financially through money, capital, and exchange markets, emphasizing policy issues including the role of the International Monetary Fund, monetary and exchange rate policy, prevention and resolution of financial crises in emerging markets, current account imbalances, and capital mobility. Development and use of macroeconomic models of international financial linkages and microeconomic models of hedging, optimal selection of currencies for invoice and trade credit, and parity relationships in futures, swaps, and options markets. Prerequisite: 165.
| Units: 5
ECON 282:
Contracts, Information, and Incentives
Issues and recent developments in mechanism design and the theory of contracts. Topics include: hidden characteristics and hidden action models with one and many agents, role of commitment and renegotiation in long-term relationships, incomplete contracts and applications to the theory of the firm.
| Units: 2-5
ECON 283:
Advanced Topics in Contracts and Organization
Recent developments and promising research. Topics change from year to year, and may include: reputational concerns and implicit contracts in long-term relationships, property rights and the hold-up problem, multilateral contracting, communication requirements of allocation problems, communication without full commitment. Prerequisite: 282 or consent of instructors.
| Units: 2-5
| Repeatable
for credit
ECON 286:
Game Theory and Economic Application
Solution concepts for non-cooperative games, repeated games, games of incomplete information, reputation, and experiments. Standard results and current research topics. Prerequisite: 203 or consent of instructor.
| Units: 2-5
