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Economics Courses (ECON) College of Arts and Sciences


Subject Area Course # Course Title Semester Credit Hours Expand
ECON 1129 Discussion Group/Macroeconomics Spring 0
Course Description

Discussion section for large Principles of Macroeconomics classes. No prior registration required.


Instructor(s): The Department

Prerequisites: None

Cross listed with:

Comments:

ECON 1130 Discussion Group/Microeconomics Fall 0
Course Description

Discussion section for large Principles of Microeconomics classes. No prior registration required.


Instructor(s): The Department

Prerequisites: None

Cross listed with:

Comments:

ECON 1131 Principles of Economics I—Micro Fall/Spring 3
Course Description

This course is an analysis of prices, output, and income distribution through the interaction of households and business firms in a modern Western economy. The appropriate role of government intervention is examined, and basic analytical tools are applied to current economic problems. Open to freshmen, sophomores and juniors. Course is open to seniors by department permission.


Schedule: Periodically

Instructor(s): The Department

Prerequisites: None

Cross listed with:

Comments:

ECON 1132 Principles of Economics II—Macro Fall/Spring 3
Course Description

This course is an analysis of national income and employment, economic fluctuations, monetary and fiscal policy, inflation, growth, and international aspects of macroeconomic policy. This course is an analysis of prices, output, and income distribution through the interaction of households and business firms in a modern Western economy. The appropriate role of government intervention is examined, and basic analytical tools are applied to current economic problems. Open to freshmen, sophomores and juniors. Course is open to seniors by department permission.


Instructor(s): The Department

Prerequisites: None

Cross listed with:

Comments: Open to freshmen, sophomores and juniors. Course is open to seniors by department permission.

ECON 1150 Discussion Group-Statistics Fall 0
Course Description

TBD


Instructor(s):

Prerequisites: None

Cross listed with:

Comments:

ECON 1151 Statistics Fall/Spring 3
Course Description

This course is focused on probability, random variables, sampling distributions, estimation of parameters, tests of hypotheses, regression, and forecasting.


Instructor(s): The Department

Prerequisites: None

Cross listed with:

Comments: Not open to students who have completed BIOL2300.

ECON 1501 Beyond Price: Markets, Cultures, Values Spring 6
Course Description

This course is about wealth and values—the condition of our “knowing the price of everything and the value of nothing.” Given the glamour and power surrounding money and the super-rich, we examine issues concerning the economy, values, and the dominance of the market over our environment and personal lives. We look at markets, incentives, ecology and ethics through a combination of literature and economics. We also take up specific case studies that will enable us to better understand the relation between business decisions or market interests and their impact on the ordinary lives of working men, women, and children.


Instructor(s): Can Erbil and Kalpana Seshadri

Prerequisites: None

Cross listed with: ENGL1503

Comments: Core Renewal course: Complex Problems

ECON 1701 Human Disease:Health, the Economy, and Society Spring 3
Course Description

About 9% of the world's economic resources (and 18% of the United States' resources) are devoted to health care--the prevention and treatment of human disease. This course will explore the social consequences of and responses to infectious and chronic diseases. Economics can provide insight into why researchers focus more on some diseases than others, why some health care systems work better than others, and how health care resources might be deployed more efficiently. Students will develop the ability to analyze the broader context and consequences of human disease, with a focus on the economics of health care policy.


Instructor(s): Samuel Richardson

Prerequisites: None

Cross listed with:

Comments: Core Renewal Course:Enduring Questions
For Freshmen Only

ECON 2103 Comparative Economics in Central America Summer 3
Course Description

This course is designed as an introduction to the economics of Nicaragua and Costa Rica. Nicaragua and Costa share a history of early colonization by the Spanish during the 1500s but their varied relationships with the U.S. at the end of the last century have contributed to their vastly different economic circumstances. Despite being neighbors and sharing some of the most beautiful geography in the world and similar population demographics, their economic indicators are dramatically different. This course will focus specifically on the areas of economic development, labor economics, health economics, along with the informal economy in understanding the differences between these two nations.


Instructor(s): Tracy Regan

Prerequisites: While not required, students are encouraged to have completed and passed micro principles (ECON1131) as a working knowledge of introductory microeconomics will benefit the student.

Cross listed with:

Comments:

ECON 2201 Microeconomic Theory Fall/Spring 3
Course Description

This course develops a theoretical framework with which to analyze consumer and producer behavior. This analysis is then employed to investigate the determination of prices and output in various market situations, the implications for welfare, and the appropriate role for government intervention.


Instructor(s): The Department

Prerequisites: ECON1131 and MATH1100

Cross listed with:

Comments:

ECON 2202 Macroeconomic Theory Fall/Spring 3
Course Description

This course is intended to equip the student for the analysis of the determination of employment and national income. Emphasis will be placed on the Keynesian theory of employment, interest, and money and on post-Keynesian macroeconomic models.


Instructor(s): The Department

Prerequisites: ECON1132 and MATH1100

Cross listed with:

Comments:

ECON 2203 Microeconomic Theory: Honors Level Fall 3
Course Description

A more intensive analytical treatment of the same material presented in ECON2201. Some mathematical tools will be developed as needed. Open to anyone who has done well in Principles of Economics and highly recommended for students interested in doing graduate work in economics.


Instructor(s): Department

Prerequisites: ECON1131 and MATH1100 and MATH1101

Cross listed with:

Comments:

ECON 2204 Macroeconomic Theory: Honors Level Spring 3
Course Description

A more intensive treatment of the same material presented in ECON2202. Open to anyone who has done well in Principles of Economics and highly recommended for students interested in doing graduate work in economics.


Instructor(s): Robert Murphy

Prerequisites: ECON1132, MATH1100, and MATH1101

Cross listed with:

Comments:

ECON 2206 Real Estate and Urban Action Fall 3
Course Description

Real Estate and Urban Action is a class in which students explore the interdisciplinary fields that are engaged in neighborhood revitalization. The course uses the transformation of the failed Columbia Point housing project (Dorchester, MA) into Harbor Point, a successful mixed income neighborhood, as a core teaching case study, highlighting how successful redevelopment addresses the social and economic needs of community residents. Classes include guest lectures from developers, public planning officials, and supportive services experts on the social, cultural, and political factors critical to transforming distressed neighborhoods into safe and economically viable neighborhoods. It is a practical course, in which students gain experience through field trips and interactions with real estate and supportive services professionals, culminating in a team neighborhood transformation proposal.


Instructor(s): Neil McCullagh

Prerequisites: None

Cross listed with: BSLW2206

Comments: The only prerequisite is an interest in any facet of real estate and urban action. Given the multidisciplinary tasks required to create viable communities, students from all schools at Boston College are welcomed to participate.

ECON 2207 The Global Economy Spring 3
Course Description

This course aims to deepen your understanding of real world economic issues, while providing you with a stronger analytical base. We will focus on international trade theory and policy, and issues in international finance.


Instructor(s): Can Erbil

Prerequisites: Must have successfully completed all courses from (ECON1131, ECON1132)

Cross listed with:

Comments:

ECON 2209 Sports Economics Fall 3
Course Description

This course will develop fundamental economic concepts in the context of the sports industry. Students will apply economic theory to various aspects of both collegiate and professional sports. Topics include (but are not limited to) wage discrimination in sports, alumni giving and collegiate athletics, academics and collegiate athletics, sports rights and broadcasting, sports and gambling, salary caps, revenue sharing, insurance contracts, expansion, and stadium/arena financing.


Instructor(s): Martin Konan

Prerequisites: ECON1131, ECON1151 or OPER1135-OPER1145

Cross listed with:

Comments:

ECON 2212 Geographic Information Systems for Planning and Decision-Making Fall 3
Course Description

Large quantities of information are available to describe our social and physical environment with high detail, but making sense of this data requires specialized skill sets. Geographic Information Systems (GIS) is a general approach to analysis and is a powerful set of tools for understanding complex problems or for making a compelling argument about issues grounded in the physical or social environment. It is widely used in the public and private sectors. This course will introduce students to the use of GIS and representation as a means of looking at and representing spatial data. Students will learn how to perform the three broad steps of spatial analysis: 1) collecting and organizing data, 2) analyzing this data for appropriate patterns, and 3) using software to represent data on maps to support decision making.


Instructor(s): Will Cohen

Prerequisites: None

Cross listed with: ISYS6625

Comments:

ECON 2215 Numerical Methods and Scientific Computing Spring 4
Course Description

This course introduces students to a variety of numerical methods and then applies these methods to solve a broad range of scientific problems. These problems include examples from physics as well as several other disciplines, including chemistry, mathematics, economics, and finance. Numerical techniques for solving problems expressed in terms of matrix, differential and integral equations will be developed. Other topics will include statistical sampling and Fourier and Laplace transforms.


Instructor(s): The Department

Prerequisites: MATH2202 and permission of instructor

Cross listed with: PHYS4300

Comments: This course is intended for students who plan to minor in Scientific Computation. It is also an elective for Physics majors.

ECON 2227 Discussion Group:Econometric Methods Fall 0
Course Description

TBD


Instructor(s):

Prerequisites: None

Cross listed with:

Comments:

ECON 2228 Econometric Methods Fall/Spring 4
Course Description

This course focuses on testing the predictions of economic theory. Topics covered include simple and multiple regression, multicollinearity, heteroskedasticity, serial correlation, specification errors, errors in variables, and an introduction to simultaneous equation estimation.


Instructor(s): The Department

Prerequisites: MATH1100 and ECON1151

Cross listed with:

Comments: ECON1151, MATH1100

ECON 2229 Forecasting Techniques Fall 3
Course Description

The theory and practice of applied time series analysis will be explored. First the different segments (trend, seasonality, cyclical and irregular) of a time series will be analyzed by examining the Autocorrelation functions (ACF) and Partial Autocorrelation functions (PACF). The specifics model to model the various types of time series include linear regression, panel regression, seasonal decomposition, exponential smoothing, ARIMA modeling as well as combining models.


Instructor(s): Richard McGowan, S.J.

Prerequisites: Undergraduate prerequisite-ECON1151orECON1155 Statistics/Graduate prerequisite -OPER7725

Cross listed with: OPER6606 MFIN6606

Comments:

ECON 2230 Economics of Healthcare and Social Security Fall 3
Course Description

This course provides the core theories and concepts needed to understand health care issues in the developed world. It describes how the markets for health and health services are different from other goods, with a particular emphasis on the role of government and market failure. In addition it discusses the theoretical and empirical aspects of key health economics issues, including the demand for health and health services, supply side concerns, health insurance, and other possible related topics. The course encourages students examine the role of the market for the provision of health and health services and how public policy can influence these markets.


Instructor(s): The Department and Nicholas Diebel

Prerequisites: ECON1131-1132

Cross listed with:

Comments:

ECON 2233 History of Economic Thought Fall 3
Course Description

This course will survey the history of economic thinking from the ancient Greeks through the modern period. The emphasis of the course will be on classical and neoclassical economics from Adam Smith through John Maynard Keynes and the neoclassical synthesis of Paul Samuelson. Attention will also be given to contemporary developments.


Instructor(s): Francis McLaughlin

Prerequisites: EC131 and EC132

Cross listed with:

Comments:

ECON 2242 Public Policy in an Aging Society Fall/Spring 3
Course Description

We live in a rapidly aging nation. In two decades, the age distribution of the U.S. will look like that of Florida today. We will analyze the underlying demographic trends, the economic status of the aged, the fiscal challenge of an aging society, public policies (especially social insurance) designed to assist older Americans, the impact of public policy on individual behavior, and proposals for reform.


Instructor(s): Matthew Rutledge

Prerequisites: ECON1131

Cross listed with:

Comments:

ECON 2251 Economics of Energy Markets Spring 3
Course Description

The course will introduce students to the basic economic and engineering used to design competitive and regulated power markets. The main focus will be electricity markets in US: their history, on-going transformation, design and most current issues. Due to its physical nature electricity is a unique commodity, and we will examine its characteristics and the way they affect the market structure. We will also discuss major issues in gas and oil markets; examine latest trends in environmental policy and renewable energy. The course will highlight economic theory, such as industrial organization, auction design and economics of taxation in design.


Instructor(s): Margarita Sapozhnikov

Prerequisites: ECON1131 and ECON1132

Cross listed with:

Comments: Enrollment limited; significant writing/research component.

ECON 2261 Money, Banking, and Financial Markets Fall/Spring 3
Course Description

This course deals with topics such as significance and functions of money in the economy, behavior of interest rates, banking and management of financial institutions, central banking and the conduct of monetary policy, the Federal Reserve System, financial derivatives, money market, foreign exchange market, and the international financial system.


Instructor(s): Hossein Kazemi and Nancy Kimelman

Prerequisites: ECON1131 and ECON1132

Cross listed with:

Comments: Not open to students who have completed ECON3361. Cannot be taken concurrently with ECON3361.

ECON 2273 Development Economics Spring 3
Course Description

This course considers what we know about developing countries, and applies economic theory to help us understand the constraints of poverty. We will describe the economies of less developed countries and the lives of the poor, focusing on changes in poverty, inequality, demography, and health. We will consider theories and evidence for why some countries are rich and others poor. We will examine how land, labor, and credit markets function in poor countries and communities, and the consequences for health, education, and child labor. We will consider migration and its consequences and will discuss aid and international institutions.


Instructor(s): Anant Nyshadham

Prerequisites: ECON1131, ECON1132, and ECON1151

Cross listed with:

Comments: Not open to students who have completed ECON3374 or ECON3375. Fulfills cultural diversity core requirement.

ECON 2275 Economic Development: The Experience of El Salvador Spring 3
Course Description

This is a service-learning course designed to introduce students to the phenomenon of economic development in the context of El Salvador. The first part is a survey of historical, social, and economic issues. Students are then require to spend their spring break working in El Salvador and attending lectures at the University of Central America. The final weeks focus on remittances and microfinance.


Instructor(s): Richard McGowan, S.J.

Prerequisites: ECON1131 and ECON1132

Cross listed with:

Comments: Enrollment limited; significant writing/research component.
Fulfills cultural diversity core requirement.

ECON 2277 Environmental Economics and Policy Fall 3
Course Description

This course provides an introduction to the economics of environmental policy. We begin by examining market failures from externalities and public goods. We then discuss public policy options to correct these failures, and develop tools to assess the costs and benefits of each approach. With this framework in place, the remainder of the course is spent evaluating past efforts to conserve land and improve air and water quality, before concluding with an extensive discussion about global climate change policy.


Instructor(s): Sweeney, Richard

Prerequisites: ECON1131, Micro Principles

Cross listed with:

Comments:

ECON 2278 Environmental Economics Fall/Spring 3
Course Description

The course will examine different aspects of natural resource allocation and the protection of environmental quality from an economic standpoint, including specific areas of market failure, the allocation of public goods, the estimation of non-market values, public policy avenues for influencing natural resource management, and ethical issues in natural resource management.


Instructor(s): The Department

Prerequisites: ECON1131

Cross listed with:

Comments:

ECON 2295 International Economic Policy & Political Economy Seminar Fall/Spring 1
Course Description

This interdisciplinary seminar series focuses on topics of relevance for current economic policymaking, including analysis of political and strategic dimensions. The series features speakers from the academic world with experience in policymaking and/or a record of policy-relevant research as well as speakers from policy institutions. The seminars will focus on the substantive insights that the speakers will offer on present-day policy questions rather than technique. The target audience includes undergraduate and graduate students as well as faculty in economics, political science, international studies, finance, and history.


Instructor(s): Fabio Ghironi

Prerequisites: EC131 and EC132

Cross listed with:

Comments: This seminar is available to undergraduate students as the one-credit, pass/fail course EC295.01 (Prerequisites: EC131 and EC132)
This course does not count as an economics elective.

ECON 2299 Independent Study Fall/Spring 3
Course Description

The student works under the direction of an individual professor.


Instructor(s): The Department

Prerequisites: None

Cross listed with:

Comments:

ECON 3282 Discussion Group-Computational Investing Fall 0
Course Description

Discussion group


Instructor(s): Tzuo Law

Prerequisites: None

Cross listed with:

Comments:

ECON 3302 Topics in the Economics of Gender Spring/Fall 3
Course Description

This course will examine gender disparities in both developed and developing countries through an economic lens. Among others, we will study topics such as domestic violence, son preference, prostitution, fertility, and discrimination in the labor market.


Instructor(s): S Anukriti

Prerequisites: Must have successfully completed ECON2201 or ECON2203, and ECON2228

Cross listed with:

Comments:

ECON 3303 Economics of the Family Spring 3
Course Description

This course uses economic tools to explore decision-making and allocation of resources within the family. The impact of gender roles and differences will be examined historically in the US and across developed economies. Student participation will be an integral part of the course. During class, students will be required to evaluate data and relate it to the theoretic model covered. Student participation will also include two in-class oral presentations


Instructor(s): Claudia Olivetti

Prerequisites: ECON2201 and ECON2228

Cross listed with:

Comments:

ECON 3304 Macroeconomic Policymaking Fall 3
Course Description

This course studies macroeconomic policy in the United States over the past three decades. We will explore historical examples of macroeconomic problems and the policies that were used to confront them. Examples include the military build up of the 1960s, the oil price shocks of the 1970s, the budget deficits of the 1980s, and the credit crunch of the early 1990s, among others. We will also examine the tools macroeconomists use to provide policy advice. A major component of the course will be frequent written assignments in which students assess macroeconomic conditions and provide policy guidance.


Instructor(s): Robert Murphy

Prerequisites: ECON2202 or EC0N2204

Cross listed with:

Comments: Enrollment limited; significant writing/research component.

ECON 3305 Market Design Fall 3
Course Description

This is an introductory-level course on market design. It aims to provide students with fundamental concepts of matching and allocation problems without money as well as auctions. The focus of the course is both introducing students to the market design theory as well as exploring real-life applications such on-campus housing, school choice, kidney exchange, search engine auctions, and spectrum auctions. Some knowledge of statistics and calculus is required for the theoretical part. Students will be required to write a final paper and do an in-class presentation.


Instructor(s): M. Bumin Yenmez

Prerequisites: MATH1100, ECON2201 or ECON2203, and ECON1151

Cross listed with:

Comments:

ECON 3308 Game Theory in Economics Fall/Spring 3
Course Description

This course is an introduction to game theory. Game theory consists of a coherent set of concepts and analytical tools to examine interactive or strategic situations between people, that is, situations where the well being of one actor depends not only what s/he does but also on what others do. Hence in deciding how best to act, each person needs to consider how others are likely to act as well. Game theory has become a widely used tool of analysis in a wide range of disciplines, including economics, business, political science, law and international relations.


Instructor(s): Bertan Turhan, Christopher Maxwell (Spring), Hideo Konishi (Fall) and Tayfun Sonmez

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3310 Behavioral Economics Fall/Spring 3
Course Description

This course covers the fundamental concepts in behavioral economics. We will incorporate heuristics, context effects, reference dependence, mental accounting, choice with risk, choice with uncertainty, regret, cognitive biases, and social interactions to economic decision making. We will then investigate how behavioral economics can help explain individual decision making and also shape economic policy. Applications will include saving for future, tax evasion, housing market, female labor market, financial investments, equity premium puzzle, buying insurance, and environmental economics.


Instructor(s): Elif Ciamarra

Prerequisites: Must have successfully completed ECON2201 and ECON1151.

Cross listed with:

Comments:

ECON 3311 Mathematics for Economic Analysis Fall 3
Course Description

This rigorous course is an introduction to the uses of calculus and other mathematical tools in economic analysis.


Instructor(s): Marcos Pareto

Prerequisites: MATH1100, ECON2201 or ECON2203 and/or ECON2202 or ECON2204

Cross listed with:

Comments:

ECON 3312 Evolutionary Economics Fall 3
Course Description

This course uses evolutionary biology to better understand the psychology of preferences, a central concept in economics. Why are people risk averse? Impatient? What explains novelty seeking, habits, addictions? What makes parents provide for children? We will use evolutionary thinking to explore these and a host of other diverse topics: violence, adolescent risk taking, sexual behavior, mating preferences, marriage and divorce, rearing and investing in children, extended families, trade and specialization, cooperation and conflict, cults and gangs, religion, and interactions between genetic and cultural forces. This course has an intensive research and writing requirement and enrollment is limited. You should be comfortable using stata. Prerequisites: Micro theory and econometrics.


Instructor(s): Donald Cox

Prerequisites: ECON2201 or ECON2203 and ECON2228

Cross listed with:

Comments:

ECON 3315 Economics of Immigration Fall 3
Course Description

This course is an upper level elective. A basic understanding of statistics and econometrics will be helpful, but is not required. This course will examine the economic decisions of migrants and their impacts on both destination and origin economies. It will emphasize the effect of immigration on wage distribution, labor market efficiency, and innovation, and will consider current public policy issues such as border control, visa allocation, and refugee admission.


Instructor(s): Miguel Matamoros

Prerequisites: ECON2201

Cross listed with:

Comments:

ECON 3316 The Economics of Refugees and Economic Migrants Fall/Spring 3
Course Description

This course will provide a thorough introduction to the economic thinking on the worldwide impact of refugees and economic migrants. It will address both the economic challenges and opportunities presented by the global migration of people. Specific emphasis will be given to the current refugee crisis, the impact of migrants on wages and employment, and their role in knowledge creation and the impact of brain drain.


Instructor(s): Mathis Wagner

Prerequisites: ECON2201

Cross listed with:

Comments: The course is an upper-level elective. A basic understanding of statistics and econometrics will be helpful, but is not required.

ECON 3317 Economies of Inequality Spring 3
Course Description

The course will provide both a theoretical and empirical analysis of economic inequality. This will include analysis and discussion of recent trends in inequality and an examination of the economic causes and consequences of inequality. Specific attention will be paid to the difference between inequality of economic outcomes (e.g., employment status, earnings, and occupation) and inequality of economic opportunity. The course will also touch on economic policy, including discussions of programs designed to combat inequality of outcomes, like welfare and food stamps, as well as those designed to combat inequality of opportunity, like Head Start.


Instructor(s): Geoff and Sanzenbacher

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3320 Economics of Wage Determination Fall 3
Course Description

Applications of economic theory and empirical methods to labor supply and demand, investment in human capital, minimum wages, union effects on relative wages, and labor market discrimination.


Instructor(s): Regan, Tracy

Prerequisites: ECON2201 or EC2203, ECON1151, ECON2228

Cross listed with:

Comments:

ECON 3327 Financial Econometrics Spring 3
Course Description

This course extends ECON2228 to present panel data models, selected topics in time series analysis, and limited dependent variable models. Methods used in financial econometrics, such as rolling CAPM estimation, volatility estimation and event studies will be stressed. Examples and datasets are drawn from financial economics.


Instructor(s): Christopher Baum

Prerequisites: ECON2228 and MATH1100

Cross listed with:

Comments: Enrollment limited; significant writing/research component.

ECON 3329 Decisions: Theory & Experiments Fall 3
Course Description

This course covers some of the theoretical, philosophical, and experimental literature concerning individual and social decision-making under uncertainty, challenging standard notions of rationality used by economists. We will discuss some of the theoretical responses to this criticism, and will see how the concept of rational behavior changed over time. This class challenges students in several respects: the material is highly quantitative; the course is reading intensive; students will be expected to present ideas to the class regularly; there will be a research project that is required. Students should have a track record of outstanding performance in quantitative courses.


Instructor(s): Uzi Segal

Prerequisites: ECON2201 or ECON2203 and MATH 1100

Cross listed with:

Comments:

ECON 3331 Distributive Justice Fall 3
Course Description

The course will analyze modern analysis of justice and fairness. We will discuss bargaining situations and social choice questions. Part of the course will be devoted to the recent experimental literature regarding fairness. Limited enrollment (12). Significant writing/research component. This course requires a strong conceptual understanding of Micro Theory.


Instructor(s): Uzi Segal

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3336 Social Policy Analysis Fall 4
Course Description

TBD


Instructor(s):

Prerequisites: None

Cross listed with:

Comments:

ECON 3338 Law and Economics Fall 3
Course Description

In this course, we utilize microeconomic analysis to evaluate the performance of legal institutions with particular attention to the issue of economic efficiency. We will focus on questions in the common law fields of property, torts, and contracts (and in the theory and practice of criminal law if time permits).


Instructor(s): James Dalton

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3340 Labor Economics Fall 3
Course Description

This course will introduce students to the methodology of labor economics from both institutional and neoclassical perspectives. The principal emphasis will be on neoclassical theory and empirical work dealing with the supply and demand for labor; the operation of the labor market; the determination of wages; and the impact of trade unions and collective bargaining. Special emphasis will be placed on applications of theory and empirical findings to policy questions.


Instructor(s): Mark Kazarosian

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3341 Microeconomics of Black-White Inequality Fall 3
Course Description

This course studies the economic causes and consequences of black-white inequality in the US context. Topics of study will include discrimination, crime, schooling, labor market and household behavior. Students will prepare an original research project over the course of the term addressing an empirical question related to racial inequality.


Instructor(s): Andrew Beauchamp

Prerequisites: ECON2228

Cross listed with:

Comments: Enrollment limited; significant writing/research component.

ECON 3342 Labor Economics: The Supply of Labor Fall 3
Course Description

This course is designed as an introduction to the study of labor economics with special emphasis on labor supply. We will discuss various public and social policies and their corresponding labor market implications. Students will apply the tools learned in their introductory and intermediate micro economics courses, along with those from statistics and econometrics, to various topics in labor economics.


Instructor(s): Regan, Tracy

Prerequisites: Must meet all of the following:ECON2201, ECON1151, and ECON2228.

Cross listed with:

Comments:

ECON 3352 Economics of the Firm Spring 3
Course Description

This course examines the economics of the firm. We will cover both the major motivations for the existence of firms in a market economy, as well as the detailed analysis of firm behavior. The analysis will be formal and utilize concepts and techniques from intermediate microeconomics. Topics include oligopoly competition, collusion, price discrimination, product differentiation, advertising, and entry and exit.


Instructor(s): Andrew Beauchamp

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3353 Industrial Organization—Competition and Antitrust Fall 3
Course Description

This course is an economic analysis of market outcomes when firms are imperfectly competitive. We will consider the consequences of imperfect competition on market performance. We will analyze such issues as oligopoly behavior, collusion, mergers and takeovers, advertising, product differentiation, price discrimination, entry and entry deterrence, innovation and patents, and antitrust law.


Instructor(s): Julie Mortimer

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3354 Advertising and Media Markets: Advanced Research Methods Fall 3
Course Description

This course develops advanced research methods to study the advertising and media markets. The goal of the course is to provide hands-on experience with advanced research methods, including the ability to analyze and critique previous research and to identify important research questions. The course is designed primarily for junior economics majors who are interested in writing a senior thesis, or for junior and senior economics majors anticipating quantitative work in economics or marketing after graduation. Methods that are taught include theoretical tools from industrial organization, such as game theoretic models of imperfect competition, pricing, and entry, as well as statistical and empirical methods of analysis using data on advertising and media programming choices. Questions addressed in the course include the following: What is the impact of advertising on product markets? How do advertisers compete for air time, both across and within industries?


Instructor(s): Julie Holland Mortimer

Prerequisites: Micro theory and statistics required. Econometrics required but can be taken simultaneously.

Cross listed with:

Comments: Extensive research project.

ECON 3355 Topics and Case Studies in Antitrust Law and Economics Fall 3
Course Description

The primary aim is to examine government regulation of the behavior of firms and consumers within the context of issues classified as antitrust and regulation. The course will consider the various ways in which government attempts to alter socially undesirable business behavior through the use of antitrust legislation, industry regulation, and social regulation. The course will review basic concepts of industrial organization, such as monopoly and oligopoly. It will then study socially undesirable firm behavior that may be remedied via antitrust legislation. Finally, the course will analyze situations where government regulation is economically desirable and implemented.


Instructor(s): James Dalton

Prerequisites: ECON2201 or ECON2203 and ECON1151 or OPER1135-OPER1145

Cross listed with:

Comments:

ECON 3356 Industrial Organization for Business Decisions Spring 3
Course Description

We study the behavior of firms and the structure of industries, applying game theory to understand the strategic interaction of firms when the assumptions of perfect competition break down. The course combines theoretical micro-economic analyses with studies of actual firm behavior in individual industries. Topics include pricing, game theory, collusion, outsourcing, auctions, and adverse selection. The course will incorporate insights from developments in behavioral economics and consider regulation for consumer protection.


Instructor(s): Grubb, Michael

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3357 Advanced Topics: Industrial Organization: Theory and Application Fall/Spring 3
Course Description

We study the behavior of firms and the structure of industries, applying game theory to understand the strategic interaction of firms when the assumptions of perfect competition break down. The course combines theoretical micro-economic analyses with studies of actual firm behavior in individual industries. Topics include horizontal relationships and mergers, vertical integration and control through contractual arrangements, price discrimination, information and search costs, network externalities, and adverse selection. The course will incorporate insights from developments in behavioral economics and investigate the degree to which the market protects consumers from their own mistakes or could benefit from regulation to prevent exploitation.


Instructor(s): Michael Grubb

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3358 Industrial Organization, Creation, and Strategy Spring/Fall 3
Course Description

This course is designed as an introduction to industrial organization with special emphasis on entrepreneurship and strategy. We will discuss various types of market structures and business methods. The lectures will largely be theoretical (i.e., mathematical) but also include discussions of real-world firms and industries. A working knowledge of microeconomic theory and comfort with basic calculus are necessary for success in the class. A series of guest lecturers will present first-hand accounts of their experience as entrepreneurs/small-business owners. Students will work in groups to read and present popular press, non-fiction books on various techniques and approaches to business. The semester will conclude with the student groups presenting a business plan for a new start-up company.


Instructor(s): Tracy Regan

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3361 Monetary Theory and Policy Fall/Spring 3
Course Description

An analysis of the operation and behavior of financial markets and financial institutions. Emphasis is placed on financial intermediaries, including commercial banks and the central bank. The money supply process and alternative theories of the demand for money are considered, as well as their implications for monetary policy and macroeconomic performance.


Instructor(s): Hossein Kazemi

Prerequisites: ECON2202 or ECON2204 and ECON2228

Cross listed with:

Comments:

ECON 3363 Micro Public Policy Analysis Spring 3
Course Description

This is a seminar on the economic analysis of current microeconomic public policy issues. During the first half of the course, students will read and discuss articles on selected topics and prepare first drafts of papers on topics of their choice. The second half of the course will be run like a professional economics conference. Students will read and critique others' papers, present their drafts to the class, and revise their papers on the basis of the comments received.


Instructor(s): Joseph Quinn

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments: Enrollment limited; significant writing/research component.

ECON 3365 Public Finance Fall/Spring 3
Course Description

This is a course in the microeconomics of the public sector. We will discuss the rationale for the government's role in a market economy, major expenditure programs, and the theory and structure of the tax system. The focus will be on the federal (as opposed to state and local) government's expenditure and tax programs, with special attention given to topics of current concern.


Instructor(s): Anthony Laramie (Fall), Anthony Laramie (Spring) and Richard Tresch

Prerequisites: ECON2201 or ECON2203, may be taken concurrently

Cross listed with:

Comments:

ECON 3367 American Economic Policy Fall 3
Course Description

This course allows students the opportunity to apply macroeconomic and microeconomic techniques and models to issues of current importance. Although the choice of topics is based on the interests of the students present, typically the course covers the economic effects of immigration, changes in the minimum wage, negative interest rate policies, fiscal challenges of the federal government, Social Security reform, income inequality, and trade.


Instructor(s): Nancy Kimelman

Prerequisites: Must have successfully completed micro and macro theory, ECON2201 and ECON2202.

Cross listed with:

Comments:

ECON 3370 Sports Econometrics Fall/Spring 3
Course Description

This applied economics course focuses on empirical analysis and features extensive application of econometric methods, including discrete choice models, panel data techniques and non-linear estimation. The course is built around a sequence of empirical exercises on topics such as the efficacy of competitive balance initiatives, the Pythagorean Theorem in baseball, the valuation of NFL draft picks, hot hands in the NBA, MLB umpire bias and home field advantage, pay/performance in the NBA, understanding differences in ticket prices, and rating team performance. A term-long empirical research project/paper is an important part of the course.


Instructor(s): Christopher Maxwell

Prerequisites: ECON2201 or ECON2203 and ECON2228 and/or ECON3327

Cross listed with:

Comments: This is not a sports history/trivia class.

ECON 3371 International Trade Spring 3
Course Description

This course is an analysis of the foundations of trade and the principle of comparative advantage leading to a sophisticated study of protectionism. Current U.S. protectionist issues will be illuminated, as well as economic warfare, control of international factor movements, and interaction of trade and economic development.


Instructor(s): James Anderson (Spring)

Prerequisites: ECON2201 or ECON2203

Cross listed with: INTL3371

Comments: Not open to students who have taken ECON2271

ECON 3372 International Finance Fall/Spring 3
Course Description

International financial markets, international trade and balance of payments issues will be studied by using analytical models of the open economy. Topics of particular interests are exchange rate determination, capital flows, trade flows, and other international linkages between economies. The course will apply the analytical tools of international economics to address macroeconomic aspects of current policy issues such as the global impact of the financial crisis, exchange rate policy, sovereign debt crises, and persistent trade deficits and international indebtedness.


Instructor(s): Rosen Valchev

Prerequisites: ECON2201 and ECON2202

Cross listed with:

Comments: Not open to students who have taken ECON2271

ECON 3373 Impact Evaluation in Developing Countries Fall/Spring 3
Course Description

This course reviews advanced econometric techniques and research designs used to estimate the causal effect of programs or policies implemented in developing countries. Fixed effects, difference-in-difference, instrumental variable, and propensity score methods are discussed as are regression discontinuity, natural experiment, and randomized experiment designs. The economic rationale for such programs is also addressed. Topic areas include health, education, service delivery, insurance, and micro-finance.


Instructor(s): Paul Cichello

Prerequisites: ECON2201 and ECON2228

Cross listed with:

Comments: Enrollment limited; significant writing/research component.

ECON 3374 Development Economics and Policy Fall 3
Course Description

This course examines development economics and development policy. The purpose is to understand the lives of the poor and the economies of poor countries in order to​ ​decipher what—if anything—can be done to improve their lives. We will consider what might be holding the poor back including population growth, lack of education, poor health, corruption, and institutional impediments. We will examine different​ ​empirical methods to evaluate the effects of a policy or program, and what we do, and do not, know about poverty. Students will write a paper which considers the research and economic reasoning for a particular program to help the poor by a government giving foreign aid, a developing country government, or an NGO. This course is appropriate for economics majors as well as for majors in international studies with the appropriate prerequisites.


Schedule: Periodically

Instructor(s): S Anukriti

Prerequisites: ECON2201 and ECON1151.

Cross listed with:

Comments: Enrollment limited; significant writing/research component.
Fulfills cultural diversity core requirement.

ECON 3375 Economic Growth and Development Fall 3
Course Description

This course surveys the field of economic growth and development. The course is designed primarily for economics majors, but is also appropriate for international studies majors and other students seeking an understanding of growth and development. We will study the underlying determinants economic growth, including factor accumulation and technological progress. We also will explore how political and social institutions influence the process of economic development. Our goal is to explain why some countries experience rapid increases in their standard of living while others do not. A central feature will be the role policy plays in affecting economic success or failure.


Instructor(s): Robert Murphy

Prerequisites: ECON2201 or ECON2203 and ECON2202 or ECON2204

Cross listed with:

Comments:

ECON 3376 International Economic Relations Spring 3
Course Description

This course introduces the study of economic relations among countries. It combines material contained in ECON3371 and ECON3372, and substitutes for both those courses. Primarily designed for international studies majors, it is also appropriate for economics and other social science majors, with the proviso that the comprehensive coverage of the course implies that the workload is heavy and expectations for students are high. Topics include the determinants of trade in goods, services, and capital; the economic policies that nations use to influence such trade; the theory and practice of international macroeconomics; and problems of coordinating macroeconomic policies among countries. The course features the usefulness (and limitations) of game theory for explaining international economic interactions.


Instructor(s): Eyal Dvir and James Anderson

Prerequisites: ECON2201 or ECON2203, and ECON2202 or ECON2204

Cross listed with:

Comments:

ECON 3377 World Economy: Gold Standard to Globalization Fall/Spring 3
Course Description

This course explores the history and functioning of international monetary arrangements and economic relations from the early twentieth century to the present day. What was the role of the Gold Standard in the Great Depression? Why did the Bretton Woods regime of fixed exchange rates collapse at the beginning of the 1970s? Why did European countries decide to form a monetary union? How does European monetary unification affect policy interactions between the U.S. and Europe? What are the consequences of financial and trade globalization? The course will explore these questions by combining history, political economy, and economic theory.


Instructor(s): Fabio Ghironi

Prerequisites: EC202 or EC204. Recommended: EC201 or EC203. Any previous exposure to international economics would be helpful, with EC372 or EC271 more so than EC371.

Cross listed with:

Comments:

ECON 3378 Applied Financial Economics Fall/Spring 3
Course Description

This course provides a rigorous introduction to the fundamentals of modern financial analysis and their applications to business challenges in financial markets, corporate investment and financing decisions, and basic security analysis and investment management.We will discuss topics including the time value of money, risk and return, portfolio theory, market efficiency, financial instruments, etc. This course is not open to students who have taken or are taking ECON3380.


Instructor(s): Department

Prerequisites: Must have successfully completed the following courses: ECON2201 Microeconomic Theory (3.0 credits), ECON2202 Macroeconomic Theory (3.0 credits), and ECON2228 Econometric Methods (4.0 credits)

Cross listed with:

Comments: Not open to students who have completed ECON3380. Cannot be taken concurrently with ECON3380.

ECON 3379 Financial Economics Fall/Spring 3
Course Description

This undergraduate elective focuses on financial economics, with specific emphasis on asset pricing and the valuation of risky cash flows. After developing and studying the details of consumer decision-making under uncertainty, it uses that general framework as a basis for understanding both equilibrium and no-arbitrage theories of securities pricing, including the capital asset pricing model (CAPM), the consumption capital asset pricing model (CCAPM), Arrow-Debreu theories, martingale pricing methods, and the arbitrage pricing theory (APT).


Instructor(s): Peter Ireland

Prerequisites: MATH1100, MATH1102, or MATH1105; ECON2201 or ECON2203; ECON1151 and ECON2228.

Cross listed with:

Comments:

ECON 3380 Capital Markets Fall/Spring 3
Course Description

Valuation of assets, rates of return, measurement of earnings, finance and securities markets, risk and portfolio choice, and special problems in investment. The course is designed to give students an appreciation of the role of securities markets in the allocation of capital. It assumes some background in economics but no prior work in finance. Finance majors should not take the course since they would encounter most of the material elsewhere, and anyone who has had basic finance would find about half of the topics redundant. Not open to students who have completed ECON3378; cannot be taken concurrently with ECON3378.


Instructor(s): Harold Petersen

Prerequisites: ECON2201 or ECON2203, may be taken concurrently, and ECON1151 and Not open to students who have completed ECON3378. Cannot be taken concurrently with ECON3378.

Cross listed with:

Comments: Open only to A&S economics majors and minors.

ECON 3381 History of Financial Crises Fall 3
Course Description

History of speculation and financial crises, from the Tulip Mania in Holland, John Law and the Mississippi Company in France, the South Sea Bubble in England, on through to the Panic of 1907 in the U.S., the Roaring Twenties and the Collapse of 1929, and the most recent financial crisis. We will look at these crises through the lens of Minsky's financial instability hypothesis and will, of course, ask why they continue to happen, over and over again.


Instructor(s): Harold Petersen

Prerequisites: ECON2201 or ECON2203 and ECON2202 ECON2204

Cross listed with:

Comments: Enrollment limited; significant writing/research component.

ECON 3382 Introduction to Computational Investing Fall 4
Course Description

In this course, students develop skills automate an investment strategy. The first third of the course covers programming skills (Python), market structure, and portfolio evaluation. The second third covers optimization and commonly used strategies. In the final third, we cross-evaluate student projects and discuss theory behind applications. Students work on a group project after the first third of the course. By the end of the course, successful students are able to write and evaluate fully functional programs on an online trading platform. Please show up in class if you are interested but cannot register or do not meet the requirements. Traditionally, all interested students have been able to eventually register. This is not a course that promotes quantitative investing. It is an immersion to acquire the universally useful skills required to automate investments. The lab session is mandatory. Juniors encouraged to enroll. Course offered in the Fall only.


Instructor(s): Tzuo Law

Prerequisites: Must have successfully completed ECON2201 or ECON2203, and ECON 2202 or ECON 2204, Micro and Macro Theory and must have successfully completed ECON2228, Econometrics.

Cross listed with:

Comments: Mandatory two-hour lab required with course, which meets M 6-8.

ECON 3383 Methods and Practice in Development Economics: Applied Estimation Techniques Fall 3
Course Description

The objective of this course is to review the state of the art in the development field with respect to applied theory, structural estimation procedures, and experimental design. We will review the latest papers from the field exemplifying these approaches and then practice applying these approaches in paper topics of the students’ choosing. The development of these papers will be guided by periodic presentations and group discussions. Micro theory and econometrics are required prerequisites. Linear algebra is strongly recommended.


Instructor(s): Nyshadram, A.

Prerequisites: Micro theory and econometrics required prereqs. Linear algebra strongly recommended.

Cross listed with:

Comments:

ECON 3384 (Economic) Principles and Theory of Medical and Health Care Fall 3
Course Description

The course is designed to teach students how to use basic principles and theories of microeconomics and statistics when thinking about medical and health care issues. In the course, we will use these concepts to understand the demand for health care, the supply of health care, the health insurance market, and the role of the government in health policy. We will focus on the U.S. health care industry. The market structure and the conduct and performance of the sub-sectors that compose this industry will be covered. Private insurance, pharmaceuticals, physician services, hospital service, and medical markets will be evaluated. Alternative health care systems will also be studied.


Instructor(s): Konan, Martin

Prerequisites: Must have completed ECON2201 and ECON1151

Cross listed with:

Comments: Not open to students who have completed ECON3385.

ECON 3385 Health Economics Fall 3
Course Description

This course is designed as an introduction to the study of health care economics with special emphasis on the pharmaceutical and health insurance industries. We will discuss the historical evolution of health care markets and current legislative changes and public policy implications. Students will apply the tools learned in their introductory and intermediate microeconomics courses to current and past topics in the health care industry. Guest speakers will focus on the business of health care, health and wellness, and entrepreneurship. Presentation and discussion of current events will introduce students to recent topics in health care.


Instructor(s): Regan, Tracy and The Department

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3386 Public Policy Analysis Fall 3
Course Description

The objective of this course is to review the state of the art in the development field with respect to applied theory, structural estimation procedures, and experimental design. We will review the latest papers from the field exemplifying these approaches and then practice applying these approaches in paper topics of the students’ choosing. The development of these papers will be guided by periodic presentations and group discussions.


Instructor(s): Anant Nyshadham

Prerequisites: Micro theory and Econometrics are prerequisites for the course. Linear algebra is recommended.

Cross listed with:

Comments:

ECON 3387 Social, Political, and Economic Analysis of Immigration Issues in Germany Summer 4
Course Description

Germany has been one of the countries most severely affected by the migration crisis. Germany's immigration policy and approach to the refugee crisis also stood out from the rest of Europe, as well as the rest of the world. Angela Merkel defended her "open door" approach fiercely. However, increasing pressure in Europe and within Germany is stalling and potentially derailing the proposed German immigration policies. Immigration policy is a very complex and multi-faceted topic, which many people fail to understand. It has a humanitarian dimension, but also widespread economic effects. This course will study a subset of these, in the context (but not limited to) economic development and growth. Studying the social, political and economic impact of immigration issues in Europe will be at the core of the program.


Instructor(s): Can Erbil and Kit Baum

Prerequisites: Principles of Microeconomics, statistics, and macro theory

Cross listed with:

Comments:

ECON 3388 Economic Policy Analysis in Turbulent Times: Europe and Turkey Summer 4
Course Description

See course description in the Economics Department.


Instructor(s): CAN ERBIL and CHRISTOPHER BAUM

Prerequisites: Permission of instructor required

Cross listed with: INTL3388

Comments:

ECON 3389 Big Data Spring 3
Course Description

Large scale data sets ("big data") become ubiquitous across many applied areas. The goal of this course is to provide an introduction to methods that allow to deal with this situation. We focus on statistical learning techniques and high-dimensional statistics, and show how they can be applied in economics and business administration.


Instructor(s): Hoderlein, Stefan

Prerequisites: ECON1151 and ECON2228

Cross listed with:

Comments:

ECON 3390 Applied Health Economics Fall 3
Course Description

A perennial health policy debate concerns the proper role of government in the allocation of health care. The first fundamental theorem of welfare economics states that (under certain assumptions) markets result in efficient allocations, so one might expect most economists favor minimal government involvement in allocating health care. We will begin by studying economic theories about why health care markets may be inefficient, along with the empirical evidence regarding those theories. As the course progresses, our emphasis will shift: in groups, students will use publicly-available data to write and present a research paper investigating a policy-relevant health economics question.


Instructor(s): Sam Richardson

Prerequisites: ECON2201 or ECON2203, and ECON2228

Cross listed with:

Comments:

ECON 3391 Economics of Energy and the Environment Spring 3
Course Description

This course provides an overview of recent research in energy and environmental economics, with an emphasis on connecting policy questions of interest to available data and econometric methods. In the context of specific markets, we will first review the theoretical justifications for government intervention. We will then turn to the empirical evidence to see what recent economic scholarship has to say about a variety of energy policy questions, including: Should we ban fracking? Do oil pipelines reduce property values? What is the best way to promote renewable energy? Should we be more energy efficient? Students will be required to read and discuss academic articles each week, as well as write an empirical term paper.


Instructor(s): Richard Sweeney

Prerequisites: Must have successfully completed ECON2228 and ECON2201

Cross listed with:

Comments:

ECON 3392 Quantitative Methods in Environmental Economics Spring 3
Course Description

This course provides an introduction to the use of quantitative methods in environmental and energy economics. The emphasis will be on top-down and bottom-up modeling of integrated economic and environmental systems. For this purpose, the course starts with a brief review of the basics from microeconomic theory, calculus and linear algebra, which is followed by the conceptual foundations of economic modeling and the applications of optimization techniques on environment-energy related problems. While the main focus of this course is on the use of optimization modeling for problems within the environment-energy-economy nexus, it also provides a very sound perspective in how to use these techniques in any other kind of economic and managerial decision making, which has becoming an increasingly sought-after skill for college graduates. Basic linear algebra recommended, but not required.


Instructor(s): Gokce Olcum

Prerequisites: Calculus I and microeconomic theory

Cross listed with:

Comments:

ECON 3394 Urban Economics Spring 4
Course Description

This course deals with the economy of cities. The subjects treated are location and land use, urban transportation, housing, and local taxation and provision of public services. While the emphasis of the lectures will be on theory, there will be some discussion of public policy. Also, all students must write a field essay which entails applying urban economic theory to some aspect of the Boston urban scene.


Instructor(s): John Donovan

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 3399 Independent Study Fall/Spring 3
Course Description

The student works under the direction of an individual professor.


Instructor(s): The Department

Prerequisites: ECON2201 or ECON2203

Cross listed with:

Comments:

ECON 4435 Capstone: Business as a Calling Spring 3
Course Description

See course description in the University Courses Section.


Instructor(s): Harold Petersen

Prerequisites: EC131

Cross listed with:

Comments: Open to any student who has taken EC 131.
Enrollment limited; significant writing/research component.
Does not count as an economic elective.

ECON 4497 Senior Thesis Research Fall 3
Course Description

This course provides guidance in developing a thesis topic and preparing a detailed proposal. ECON4497 must be completed prior to registering for ECON4498.


Instructor(s): Robert Murphy

Prerequisites: None

Cross listed with:

Comments:

ECON 4498 Senior Honors Thesis Spring 3
Course Description

Required of all seniors seeking a degree with Honors in Economics.


Instructor(s): Robert Murphy

Prerequisites: ECON4497

Cross listed with:

Comments:

ECON 6601 Advanced Independent Research Spring 6
Course Description

Required of all seniors seeking a degree with Scholar of the College status.


Instructor(s): Frank Gollop

Prerequisites: None

Cross listed with:

Comments:

ECON 7720 Math for Economists Fall 3
Course Description

"Economics studies the efficient allocation of scarce resources." It follows almost immediately from this definition that while verbal and graphical analyses are often helpful too, economists derive their sharpest and most powerful results by setting up and solving constrained (because resources are "scarce") optimization (because allocations should be "efficient") problems. Hence, this course introduces first-year graduate students to variety of techniques for doing just that: setting up and solving constrained optimization problems. Specific methods covered include those based on the Kuhn-Tucker and envelope theorems, the maximum principle, and dynamic programming. Note that since this is a "math for economists course", its emphasis is not so much on stating and proving theorems but on developing an intuitive understanding of how and why each method works and determining when one particular approach may be easier or more convenient than all others to apply to a specific problem.


Instructor(s): Peter Ireland

Prerequisites: None

Cross listed with:

Comments:

ECON 7740 Microeconomic Theory I Fall 3
Course Description

This course covers basic consumer and producer theory and expected utility maximization. Also covered are special topics in consumer theory, such as welfare change measures and revealed preference theory.


Instructor(s): Marvin Kraus and Hideo Konishi

Prerequisites: None

Cross listed with:

Comments:

ECON 7741 Microeconomic Theory II Spring 4
Course Description

This course comprises four modules. The first treats social choice theory and the second covers decision under risk and uncertainty. The third is an introduction to non-cooperative game theory while the fourth covers topics in information economics.


Instructor(s): Utku Unver and Uzi Segal

Prerequisites: None

Cross listed with:

Comments:

ECON 7750 Macroeconomic Theory I Fall 3
Course Description

The first half of the course presents Keynesian and classical models, rational expectations and its implications for aggregate supply, and economic policy. The second half covers the Solow growth model, infinite horizon and overlapping generation models, the new growth theory, real business cycle theory, and traditional Keynesian theories of fluctuations.


Instructor(s): Fabio Schiantarelli

Prerequisites: None

Cross listed with:

Comments:

ECON 7751 Macroeconomic Theory II Spring 4
Course Description

This course is divided into three sections. Part I covers consumption and asset pricing. Part II introduces business-cycle theory with flexible prices. Part III covers monetary models, including business-cycle theory with nominal rigidities and the role of monetary policy.


Instructor(s): Susanto Basu

Prerequisites: None

Cross listed with:

Comments:

ECON 7770 Statistics Fall 3
Course Description

The first part of this course deals with topics in probability theory, including random variables, conditional distributions, expectation, and multivariate distributions. The second part presents topics in mathematical statistics, including moment estimation, hypothesis testing, asymptotic theory, and maximum likelihood estimation.


Instructor(s): Zhijie Xiao

Prerequisites: None

Cross listed with:

Comments:

ECON 7771 Econometrics Spring 4
Course Description

This is a first year graduate course in econometrics. Topics include estimation and inference in classical regression analysis, estimation by maximum likelihood, generalized methods of moments, simultaneous equation models, time series models, and panel data methods.


Instructor(s): Christopher Baum

Prerequisites: None

Cross listed with:

Comments:

ECON 7772 Econometric Methods Spring 4
Course Description

This course provides an understanding of the econometric theory that underlies common econometric models. The focus is on regression models and their many extensions. Topics include finite and asymptotic properties of estimators, consistency and limiting distributions, specification issues, heteroskedasticity, autocorrelation, endogeneity and simultaneity, and nonlinear model estimators including maximum likelihood and the generalized method of moments.


Instructor(s): Arthur Lewbel

Prerequisites: ECON7770 or equivalent.

Cross listed with:

Comments:

ECON 7798 Economics Practicum Fall/Spring 1
Course Description

TBD


Instructor(s): Richard Tresch

Prerequisites: Permission of the Director of Graduate Studies

Cross listed with:

Comments:

ECON 7799 Readings and Research Fall/Spring 3
Course Description

A student and professor may propose a course involving readings and research designed to study an issue not covered in the standard course offerings.


Instructor(s): Richard Tresch

Prerequisites: Permission of the Director of Graduate Studies

Cross listed with:

Comments:

ECON 8085 Labor Economics I Fall 3
Course Description

With ECON886, this course prepares students to do research in labor economics. Topics include labor supply and demand, human capital, education, job search, wage determination, unemployment, immigration, family and gender, and discrimination.


Instructor(s): Department

Prerequisites: None

Cross listed with:

Comments:

ECON 8802 Advanced Microeconomic Theory Fall 3
Course Description

In recent years, auction theory and matching theory have found applications in many interesting real-life problems from a market/mechanism design perspective. Topics of this course include the theory of matching markets, multi-object auctions, school choice, and kidney exchange.


Instructor(s): Tayfun Sonmez

Prerequisites: None

Cross listed with:

Comments:

ECON 8811 Experimental Decision Theory Fall/Spring 3
Course Description

The course will cover some of the experimental literature related to rational behavior. We will discuss experiments of all axioms of rational decision making under risk (where probabilities are known) and uncertainty (where probabilities are not known). Readings will be from the economic and the psychological literature.


Instructor(s): Uzi Segal

Prerequisites: None

Cross listed with:

Comments:

ECON 8819 Mechanism Design Spring 3
Course Description

This course is going to cover some fundamental topics in mechanism and market design as well as some advanced ones. We will start with Bayesian mechanism design and dominant strategy mechanisms. Other topics include dynamic mechanism design, robust mechanism design, and axiomatic mechanism design. We will also consider non-transferable utility settings.


Instructor(s): Unver, Utku and Yenmez, Bumin

Prerequisites: None

Cross listed with:

Comments:

ECON 8821 Time Series Econometrics Fall 3
Course Description

This course covers major advances in time series analysis. In addition to univariate and multivariate models for stationary time series, it addresses the issues of unit roots and cointegration. The Kalman Filter and time series models of heteroskedasticity are also discussed. The course stresses the application of technical tools to economic issues, including testing money-income causality, stock market efficiency, the life-cycle model, and the sources of business cycle fluctuations.


Instructor(s): Zhijie Xiao

Prerequisites: ECON7770 and ECON7772 or equivalents.

Cross listed with:

Comments:

ECON 8822 Cross Section and Panel Econometrics Fall 3
Course Description

This course covers major advances in microeconometrics. The course will present developments in estimating models with limited dependent variables, random and fixed effects models, and duration models.


Instructor(s): Stefan Hoderlein

Prerequisites: ECON7770 and ECON7772 or equivalents.

Cross listed with:

Comments:

ECON 8823 Applied Econometrics Spring 3
Course Description

This course presents a number of econometric estimation techniques relevant for applied research in economics and finance and addresses the computational issues related to their implementation. Topics will be drawn from instrumental variables (IV-GMM) estimation and diagnostics; panel data estimators, including dynamic panel data techniques; reduced-form and structural vector autoregressions; ARFIMA (long memory) models; general linear models; limited dependent variable techniques; structural equation modeling; propensity score matching; state-space and dynamic factor models; simulation and bootstrapping.


Instructor(s): Christopher Baum

Prerequisites: ECON7770 and ECON7772 or equivalents.

Cross listed with:

Comments:

ECON 8825 Topics in Econometric Theory Spring 3
Course Description

This is a course in asymptotic theory for econometric estimation and inference, with emphasis on nonlinear, cross section models. Topics include forms of convergence, consistency and limiting distribution theory, maximum likelihood, linear and nonlinear least squares, generalized method of moments, extremum estimators, nonparametric kernel estimators, and semiparametric estimators.


Instructor(s): Karim Chalak

Prerequisites: ECON7770 and ECON7772 or equivalents.

Cross listed with:

Comments:

ECON 8827 Econometric Theory I Fall 3
Course Description

This course provides an understanding of the econometric theory that underlies common econometric models. The focus is on the single equation regression model and its many extensions. Topics include finite and asymptotic properties of estimators, specification issues, autocorrelation and heteroskedasticity, endogeneity and simultaneity, and nonlinear model estimators, including maximum likelihood and the generalized method of moments.


Instructor(s): Arthur Lewbel

Prerequisites: None

Cross listed with:

Comments:

ECON 8828 Econometric Theory II Spring 3
Course Description

This is a course in asymptotic theory for econometric estimation and inference, with emphasis on nonlinear, cross section models. Topics include forms of convergence, consistency and limiting distribution theory, maximum likelihood, linear and nonlinear least squares, generalized method of moments, extremum estimators, nonparametric kernel estimators, and semiparametric estimators.


Instructor(s): Karim Chalak

Prerequisites: ECON7772

Cross listed with:

Comments:

ECON 8830 Topics in Developmental Economics Fall 3
Course Description

This course will study the micro-economic development literature, with an emphasis on empirical applications in the areas of health, education, fertility, gender, family, children, marriage, and intra-household allocation of resources.


Instructor(s): Anukriti

Prerequisites: None

Cross listed with:

Comments:

ECON 8853 Industrial Organization I Spring 3
Course Description

This course studies imperfect competition among firms, with an emphasis on empirical work. We learn how to implement empirical methods commonly used in Industrial Organization (IO), and how to read, and ultimately write, papers in empirical IO. Topics covered include demand estimation, auctions, price discrimination, bundling, asymmetric information and adverse selection, vertical control and contractual arrangements, and others as time allows. Each topic will be organized around recent empirical work. Throughout, we will consider the importance of identification in empirical studies.


Instructor(s): Julie Mortimer

Prerequisites: None

Cross listed with:

Comments:

ECON 8854 Industrial Organization II Spring 3
Course Description

This course covers a selection of industrial organization topics not already covered in ECON8853. A typical week covers theory on Tuesday with discussion of a relevant empirical paper on Thursday. Topics may include nonlinear pricing, price discrimination, search, switching costs, obfuscation, insurance markets, present bias, pass-through and consumer protection, collusion, and learning.


Instructor(s): Michael Grubb

Prerequisites: None

Cross listed with:

Comments:

ECON 8860 Advanced Macro:Computation,Estimation&Applications Spring 3
Course Description

This course consists of two parts. The first part introduces tools for solving and estimating linearized, full-information, dynamic stochastic general equilibrium (DSGE) models. Students will develop tools in matlab to solve and estimate medium-scale DSGE models. Part two of the course explores alternatives to the linearized, full-information, rational expectations paradigm. Students will write a final paper incorporating at least one of these alternatives.


Instructor(s): Ryan Chahrour

Prerequisites: None

Cross listed with:

Comments:

ECON 8861 Monetary Economics I Fall 3
Course Description

This course covers models of money demand, recent developments in the foundation of a role for monetary policy in affecting the real economy, and issues in the formulation and conduct of monetary policy for closed and open economies.


Instructor(s): Sanjay Chugh

Prerequisites: None

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ECON 8862 Monetary Economics II Fall 3
Course Description

This course considers various topics in monetary theory and policy with a particular emphasis on empirical applications. Included among the topics covered are money demand, the term structure of interest rates, asset pricing models, macroeconomic aspects of public finance, and models of unemployment and inflation.


Instructor(s): Fabio Schiantarelli

Prerequisites: None

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ECON 8865 Public Sector Economics I Fall 3
Course Description

This course provides a foundation for the study of the public sector within a market economy, covering the first-best analysis of public expenditures, transfer payments, taxation, and fiscal federalism: the interrelationships between the different levels of government. A selection of second-best informational problems in these areas is also considered.


Instructor(s): Hideo Konishi

Prerequisites: None

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ECON 8866 Public Sector Economics II Fall 3
Course Description

This course covers the positive theory of taxation (the effects of taxation on labor supply, saving, investment, risk taking, and growth, as well as tax incidence), optimal tax and expenditure theory/the theory of the second best, and a selection of other topics depending on the interests of the students and recent developments in the field (e.g., axiomatic social choice theory, the new economics of regulation, the economics of education and the new political economy).


Instructor(s): Hideo Konishi

Prerequisites: None

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ECON 8870 Economic Development Spring 3
Course Description

This course is an introduction to empirical development economics. Topics will focus on some constraint or missing market in developing countries such as credit and insurance; education, labor markets, and migration; health; and institutions. We will emphasize identification and model differentiation using IV, randomization, structural models, and non-parametric approaches.


Instructor(s): Scott Fulford

Prerequisites: ECON7770 and ECON7772 or equivalents.

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ECON 8871 Theory of International Trade Spring 3
Course Description

Emphasis on the structure of general equilibrium, welfare and commercial policy propositions, and the foundations of comparative advantage. The course also covers imperfect competition and uncertainty.


Instructor(s): Ben Li

Prerequisites: None

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ECON 8872 International Finance Spring 3
Course Description

The course provides an introduction to international finance, spanning from the classic puzzles to current research. It is designed for Ph.D. students in their second year or later, and provides an overview of theory and empirical tools for conducting research in this field. We study two overarching themes: First, exchange rate dynamics and second, international risk sharing and financial integration.


Instructor(s): Georg Strasser

Prerequisites: None

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ECON 8873 Empirical Methods in Macroeconomics and Finance Spring 3
Course Description

We will study econometric models and methods that are useful to conduct substantive empirical research in macroeconomics and finance. We consider the estimation and evaluation of dynamic stochastic general equilibrium models, analysis of linear and nonlinear vector autoregressive models, time series models with regime switches and time-varying coefficients, as well as dynamic factor models. For the most part, we will focus on Bayesian methods of inference, with detailed discussions of suitable Markov-Chain- Monte-Carlo methods.


Instructor(s): Dongho Song

Prerequisites: Graduate level econometrics, time-series

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ECON 8874 International Macroeconomics Spring 3
Course Description

This course will focus on the construction of models for understanding the international business cycle and analysis of macroeconomic policy in open economies. The first part will focus on the transmission of macroeconomic shocks across countries, from the international real business cycle literature to models with nominal rigidity and financial imperfections. The second part will cover the recent literature on macroeconomic policy in open economies. The third portion of the course will return to model building and shock transmission and focus on the recent literature at the intersection between international trade and macroeconomic theory.


Instructor(s): Fabio Ghironi

Prerequisites: EC872

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ECON 8875 Political Economy of Trade and Development Spring 3
Course Description

This course will consider economy-wide models of endogenous growth, as well as the sector-specific issues that arise from missing markets and asymmetric information. The perspectives of neoclassical political economy will also be emphasized.


Instructor(s): James Anderson

Prerequisites: None

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ECON 8876 Topics in International Economic Policy Spring 3
Course Description

This course will cover trade policy and its political economy and a topics of current interest in trade and economic development.


Instructor(s): James Anderson

Prerequisites: None

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ECON 8877 Empirical International Finance Spring 3
Course Description

The course covers selected topics of current research in international finance, designed for Ph.D. students in their second year or later. The focus is on empirical work and tools for conducting research in this field. Topics include: nominal and real exchange rate dynamics, foreign-exchange market efficiency, the microstructure of foreign exchange markets, and international finance and trade, as well as international portfolio choice and financial integration.


Instructor(s): Georg Strasser

Prerequisites: None

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ECON 8879 Game Theory and Applications Spring 3
Course Description

In this elective advanced Graduate Class, we will cover many topics and problems that fall under the category game theory with more emphasis on dynamic games and repeated games. Although we will study some topics of dynamic games with complete information, there will be a disproportionate weight on problems with asymmetric information, and problems in which there are elements related to learning. More specifically, we will study Repeated Games, Reputation Games, Bargaining, Experimentation and Information Aggregation. Students should have a a strong background in Mathematical tools used in economics, and should have taken an advance undergraduate course in Game Theory, and/or first year Graduate Micro sequence.


Instructor(s): Mehmet Ekmekci

Prerequisites: None

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ECON 8884 Theories of Distributive Justice Spring 3
Course Description

The course will deal with the allocation of goods and rights when markets cannot or should not be used. Topics covered will include measurement of utility, bargaining, utilitarianism, non-utilitarian social welfare functions, social and individual preferences for randomization, ex-ante and ex-post analysis of social welfare, equality, the trolley problem, and the creation of social groups. The course will cover both the formal literature as well as some of the relevant philosophical and legal literature.


Instructor(s): Uzi Segal

Prerequisites: ECON7740 and ECON7741

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ECON 8885 Analysis of Labor Markets Spring 3
Course Description

A comprehensive approach to the analysis of labor markets, focusing on job market search, matching of firms and workers, minimum wage, discrimination, centralized wage setting (as in some European countries and transitional economies), migration and demographic decisions (such as marriage and child bearing), labor supply, household production, and program evaluation. Heavy emphasis is placed on specification and estimation of empirical models.


Instructor(s): Andrew Beauchamp

Prerequisites: ECON8822, which may be taken prior to or concurrently with ECON8885.

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ECON 8886 Current Topics in Labor Economics Fall 3
Course Description

This course covers topics of current interest in labor economics. Examples include analysis of life-cycle consumer behavior estimation techniques applied to survey microdata, minimum wage legislation, agency problems, informational economics, and intergenerational transfers. Both theoretical and empirical issues are investigated.


Instructor(s): Mathis Wagner

Prerequisites: None

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ECON 8888 Interim Study Fall/Spring 0
Course Description

Required for Master's candidates who have completed all course requirements but have not taken comprehensive examinations.


Instructor(s): Richard Tresch

Prerequisites: None

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ECON 9900 Third Year Thesis Workshop Fall/Spring 1
Course Description

Third-year students in the Ph.D. program must participate in the Thesis Workshop, which meets once each week during both fall and spring terms. Third-year students are required to present a thesis proposal during the spring term.


Instructor(s): Utku Unver and Susanto Basu

Prerequisites: None

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ECON 9901 Fourth Year Thesis Workshop Fall/Spring 2
Course Description

Fourth-year students in the Ph.D. program must participate in the Thesis Workshop, which meets once each week during both fall and spring terms. Fourth-year students are required to lead a seminar discussion of some aspect of their Ph.D. dissertation during each term.


Instructor(s): Utku Unver and Susanto Basu

Prerequisites: None

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ECON 9998 Doctoral Comprehensives Fall/Spring 1
Course Description

Required for Doctoral students who have completed all course requirements and are preparing for comprehensive examinations.


Instructor(s): Richard Tresch

Prerequisites: None

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ECON 9999 Doctoral Continuation Fall/Spring 1
Course Description

All students who have been admitted to candidacy for the Ph.D. degree are required to register for doctoral continuation during each semester of their candidacy, whether or not they remain in residence. Doctoral Continuation requires a commitment of at least 20 hours per week working on the dissertation.


Instructor(s): Richard Tresch

Prerequisites: None

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