ECON 43: Introduction to Financial Decision-Making
The purpose of this course is for you to obtain both a broad overview of the role of finance in society and your role in it, and a degree of greater comfort that you know how to approach the major financial decisions you will confront. Your journey through life will require many financial decisions, some easily predictable now, that will heavily influence the quality of your life, your financial security, your ability to withstand unanticipated burdens arising from the vagaries of your and your family's lives, and to keep open desirable options on how you lead your life. The course will use a variety of approaches to illustrate and analyze archetypical situations, emphasizing both sound decisions and financial mistakes that are all too common and can have major damaging results. From illustrative examples and case studies, to historical and statistical evidence and some simple analytical tools, the course is designed to help you develop some straightforward understanding of basic finan
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The purpose of this course is for you to obtain both a broad overview of the role of finance in society and your role in it, and a degree of greater comfort that you know how to approach the major financial decisions you will confront. Your journey through life will require many financial decisions, some easily predictable now, that will heavily influence the quality of your life, your financial security, your ability to withstand unanticipated burdens arising from the vagaries of your and your family's lives, and to keep open desirable options on how you lead your life. The course will use a variety of approaches to illustrate and analyze archetypical situations, emphasizing both sound decisions and financial mistakes that are all too common and can have major damaging results. From illustrative examples and case studies, to historical and statistical evidence and some simple analytical tools, the course is designed to help you develop some straightforward understanding of basic financial concepts, the people and institutions you will interact with in making such decisions, and advantages and disadvantages of alternative approaches for individuals and society. Topics include making a financial plan and budget, managing money, obtaining and using credit and loans, saving, investing in stocks, bonds, mutual funds, ETFs, and other assets, venture capital and private equity, purchasing insurance, purchasing vs. renting a home, getting a mortgage, taxes, inflation and inflation protection, financial markets and more. Summer 2024: Students will be given the option to take the full 5-unit course (Section 01) or a revised 1-unit course option that will be offered CR/NC ONLY. The 1-unit course option is suggested for students who are interested in learning more about the personal finance topics taught in this course but who may not already have background knowledge in economics. Those interested in the 1-unit course offering should enroll in section 02. The one unit course option cannot be applied to economics degree requirements.
Terms: Spr, Sum
| Units: 5
| UG Reqs: WAY-SI
Instructors:
Boskin, M. (PI)
;
Lusardi, A. (PI)
ECON 46: Networks and Human Behavior
Two threads are interwoven: why social and economic networks have special features, and how those features shape power, opinions, opportunities, and behaviors. Some of the topics included are: the different ways in which a person's position in a network determines their influence; which systematic errors people make when forming opinions based on what they learn from others; how financial contagions work and why are they different from the spread of a flu; the role of splits in our social networks in inequality, immobility, and polarization; and how network patterns of trade and globalization have changed international conflict and wars. The course requires analyzing network data, which will be provided. No prerequisite but
Econ 102A or equivalent is recommended.
Last offered: Spring 2021
| UG Reqs: WAY-AQR, WAY-SI
ECON 47: Media Markets and Social Good
This class will apply tools from economics and related social sciences to study the functioning of media markets and their impact on society. The guiding question will be: when and how do media best serve the social good? Topics will include the economics of two-sided markets, media bias, polarization, social media, fake news, advertising, propaganda, effects of media on children, media and crime, and the role of media in corruption, protests and censorship. The course will give students a non-technical introduction to social science empirical methods, including regression analysis, causal inference, experimental and quasi-experimental methods, and machine learning.
Last offered: Autumn 2020
| UG Reqs: WAY-AQR, WAY-SI
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:
Econ 1 or 1V, and
Math 51 or
Math 51A or
CME 100 or
CME 100A.
Terms: Aut, Spr
| Units: 5
| UG Reqs: WAY-SI, WAY-FR, GER:DB-Math
ECON 51: Economic Analysis II
Neoclassical analysis of general equilibrium, welfare economics, imperfect competition, externalities and public goods, risk and uncertainty, game theory, adverse selection, and moral hazard. Multivariate calculus is used. Prerequisite:
ECON 50.
Terms: Aut, Spr
| 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 effects on growth, employment, and inflation. Prerequisites:
ECON 50.
Terms: Win, Spr
| Units: 5
| UG Reqs: WAY-SI
Instructors:
Boul, R. (PI)
;
Fiaux, F. (PI)
;
Dalva, C. (TA)
;
Fiaux, F. (TA)
;
Gao, E. (TA)
;
Luo, C. (TA)
;
Rockall, E. (TA)
ECON 101: Economic Policy Seminar
Capstone and writing in the major course open to Econ majors only. Economic policy analysis, writing and oral presentations will be large components of this course. Students may also complete group projects that include empirical economic analysis focused on a specific topic. The goal of this course is to enable students to utilize the skills they have acquired throughout their time in the major. Section topics vary by instructor. Enrollment limited to application at the start of each school year with student placement notifications before the term starts. Permission numbers will be provided to students. Limited to students applying to graduate in 2023-24. Prerequisites:
Econ 51 and 52, 102B, and two field courses. Enrollment by application:
https://economics.stanford.edu/forms.
Terms: Aut, Win, Spr
| Units: 5
| UG Reqs: WAY-SI
| Repeatable
for credit
Instructors:
Boul, R. (PI)
;
Clerici-Arias, M. (PI)
;
Goda, G. (PI)
...
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Instructors:
Boul, R. (PI)
;
Clerici-Arias, M. (PI)
;
Goda, G. (PI)
;
Popov, I. (PI)
;
Voena, A. (PI)
;
Grasley, N. (TA)
;
Harris, L. (TA)
;
Le, V. (TA)
;
Tutuncu, C. (TA)
;
Yi, L. (TA)
;
Zheng, K. (TA)
ECON 102A: Introduction to Statistical Methods (Postcalculus) for Social Scientists
Probabilistic modeling and statistical techniques relevant for economics. Concepts include: probability trees, conditional probability, random variables, discrete and continuous distributions, correlation, central limit theorems, point estimation, hypothesis testing and confidence intervals for both one and two populations. Prerequisite:
MATH 20 or equivalent.
Terms: Aut, Win
| Units: 5
| UG Reqs: GER:DB-Math, WAY-AQR, WAY-SI
Instructors:
McKeon, S. (PI)
;
Crystal, M. (TA)
;
Francisco Pugliese, J. (TA)
...
more instructors for ECON 102A »
Instructors:
McKeon, S. (PI)
;
Crystal, M. (TA)
;
Francisco Pugliese, J. (TA)
;
Haberman, A. (TA)
;
He, C. (TA)
;
Lennie, M. (TA)
;
Love, S. (TA)
;
Tyger, E. (TA)
;
Yan, N. (TA)
ECON 102B: Applied Econometrics
Hypothesis tests and confidence intervals for population variances, chi-squared goodness-of-fit tests, hypothesis tests for independence, simple linear regression model, testing regression parameters, prediction, multiple regression, omitted variable bias, multicollinearity, F-tests, regression with indicator random variables, simultaneous equation models and instrumental variables. Topics vary slightly depending on the quarter. Prerequisites:
Econ 102A or equivalent. Recommended: computer experience (course often uses STATA software to run regressions).
Terms: Win, Spr
| Units: 5
| UG Reqs: WAY-AQR, WAY-SI
Instructors:
McKeon, S. (PI)
;
Francisco Pugliese, J. (TA)
;
Huang, Z. (TA)
...
more instructors for ECON 102B »
Instructors:
McKeon, S. (PI)
;
Francisco Pugliese, J. (TA)
;
Huang, Z. (TA)
;
Walter, J. (TA)
;
Warnick, M. (TA)
;
Yan, N. (TA)
ECON 102C: Advanced Topics in Econometrics
This is an advanced econometrics class targeted to students who want to go deeper into and/or expand their knowledge of topics firstly learned in
Econ 102B (or equivalent class). Topics include: Instrumental variables estimation; Panel data models (fixed and random effect models, dynamic panel data models); Limited dependent variable models (probit, logit, Tobit) and selection models; models for Duration data; Bootstrap and Estimation by Simulation. Applications from Labor Economics and Public Finance will be used to motivate the discussion. Prerequisite:
Econ 102B
Terms: Win
| Units: 5
| UG Reqs: WAY-AQR, WAY-SI
Instructors:
Pistaferri, L. (PI)
;
Bonney, J. (TA)
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