 Economics Graduate Courses |
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- Econ 606: Microeconomic Theory I
Semester 1. Credit 3.
Description: An introduction to demand theory, production theory and to basic noncooperative game theory. The topics covered in this class are: consumer theory, producer theory, competitive equilibrium, monopoly, choice under uncertainty, information and organization, and basic game theory.
Sample textbooks:
- Microeconomic Analysis, 3rd Edition, by H. Varian, Norton, 1992
- Microeconomic Theory, by A. Mas-Colell, M. Whinston and J. Green, Oxford University Press, 1995
Professors: Novshek, Aliprantis
Econ 608: Macroeconomic Theory I
Semester 1. Credit 3.
Description: An introduction to general equilibrium macroeconomic models in both deterministic and stochastic settings. Topics to be studied include: static neoclassical models, social planner problems, dynamic programming, growth and capital accumulation, stochastic economies, asset pricing, and overlapping generations models.
Sample textbooks:
- Intertemporal Macroeconomics, by C. Azariadis, Blackwell, 1995
- Macroeconomic Theory, by T. Sargent, Academic Press, 1979
- Dynamic Macroeconomic Theory, 2nd edition, by T. Sargent, Harvard University Press, 1989
- Recursive Methods in Economic Dynamics, by N. Stockey and R. Lucas, Harvard University Press, 1989
- Advanced Macroeconomics, by D. Romer, McGraw-Hill, 1996
Professors: Barron, Saunders
Econ 609: Microeconomic Theory II
Semester 2. Credit 3. Prerequisite: Econ 607
Description: An introduction to general equilibrium theory and welfare economics. Some of the topics covered in this class are: consumer choice theory, exchange economies, production economies, Pareto optimality and Edgeworth's box, the Arrow-Debreu-McKenzie model, existence and stability of competitive equilibria, the core of an economy, decentralization, and the fundamentals of welfare economics.
Sample textbooks:
- Microeconomic Theory, by A. Mas-Colell, M. Whinston and J. Green, Oxford University Press, 1995
- General Equilibrium Theory, by R. M. Starr, Cambridge University Press, 1997
- Existence and Optimality of Competitive Equilibria, by C. D. Aliprantis, D. J. Brown, and O. Burkinshaw, Springer-Verlag, 1990
Professors: Aliprantis, Novshek
Econ 610: Game Theory
Semester 1 or 2. Credit 3. Prerequisite: Econ 607 or consent of instructor
Description: An advanced rigorous course in game theory and its applications. Among the topics covered are: extensive form games, normal form games, Nash equilibrium, mixed strategies equilibrium, subgame perfect equilibrium, learning and equilibrium, games with incomplete information, repeated games, cooperative games, noncooperative bargaining, and auctions.
Sample textbooks:
- Game Theory, by D. Fudenberg and J. Tirole, The MIT Press, 1991
- A Course in Game Theory, by M. J. Osborne and A. Rubinstein, The MIT Press, 1994
- Game Theory: Analysis of Conflict, by R. B. Myerson, Harvard University Press, 1991
Professors: Aliprantis
Econ 611: Macroeconomic Theory II
Semester 2. Credit 3. Prerequisite: Econ 608 or consent of instructor
Description: An introduction to selected topics in macroeconomics, including theories of business cycles, economic growth, microfoundations of labor markets and some miscellaneous issues. Topics covered include: theories of business cycles (real business cycles, information imperfections, coordination failures), economics of growth (neo-classical model, human capital model, endogenous growth), microfoundations of labor markets (recursive competitive equilibrium models, search and matching models, efficiency wages, implicit contracts, insider-outsider model), miscellaneous issues including monetary economics (cash-in-advance constraint models), the Lucas critique, time inconsistency, and endogenous cycles.
Sample textbooks:
- Dynamic Macroeconomic Theory, by T. Sargent, Harvard University Press, 1987
- Advanced Macroeconomics, by D. Romer, McGraw-Hill, 1996
- Frontiers of Business Cycle Research, by T. Cooley, Editor, Princeton University Press, 1995
Professors: Aliprantis, Saunders, Chien
Econ 613: Topics in Economic Theory
Semester 1 and 2. Credit 3. (May be repeated for credit.)
Description: Economic theory workshop. It covers topics from economic theory. Presented by departmental and external speakers.
Econ 615: Mathematical Analysis for Economists
Semester 1. Credit 3. Prerequisite: The student should be acquainted with calculus, linear algebra, and statistics and have a grasp of economic theory.
Description: A survey with applications of the basic mathematical tools used extensively in economics. Topics include: constrained optimization, comparative statistics, support functions, stability, basic mathematical analysis, and dynamic programming.
Sample textbook:
Mathematics for Economists, by W. Novshek, Academic Press, 1993
Professors: Novshek, Aliprantis
Econ 618: Topics in Macroeconomics
Semester 1 and 2. Credit 3. (May be repeated for credit.)
Description: Macro/International workshop. It covers topics from macroeconomics and international economics. Presented by departmental and external speakers.
Econ 620: Industrial Organization
Semester 1 or 2. Credit 3.
Description: A survey of some of the major theoretical issues in the field of industrial organization. Topics include: the welfare economics of competition and monopoly, static and dynamic oligopoly theory, differentiated products models, and entry deterrence. Professors: Cason, Martin
Econ 621: Applied Industrial Organization
Semester 1 or 2. Credit 3. Prerequisite: Econ 620 or consent of instructor
Description: A continuation of Econ 620 with emphasis on empirical analysis and the application of theory to real-world situations. Topics covered include: empirical estimation of market structure, empirical tests of market conduct, the effect of anti-competitive behavior on economic performance, antitrust practice, regulation theory and practice, and experimental industrial economics. The material is selected from current journal articles.
Professors: Martin, Siebert
Econ 622: Public Economics I
Semester 1 or 2. Credit 3. Prerequisite: Econ 607 or consent of instructor
Description: An introduction to public economics with emphasis on the literature concerning taxation. Topics included in the course are: Social welfare concepts and measurement, project evaluation, review of the elementary theory of externalities and public goods, commodity taxation, poll taxes vs commodity taxation, full Pareto efficiency vs second-best, income taxation and incentives, optimal income taxation, policy reform risk (social vs private risk), household taxation under uncertainty, corporate taxation, and fiscal federalism. Students will prepare brief report/presentations on policy areas of interest.
Sample Textbooks:
- Public Economics, by G. D. Myles, Cambridge University Press, 1995
- Modern Public Economics, by R. Jha, Routledge, 1998
- Lectures on Public Economics, by A. B. Atkinson and J. E. Stiglitz, McGraw-Hill, 1980
Professors: Kevin Mumford
Econ 623: Public Economics II
Semester 1 or 2. Credit 3, Prerequisite: Econ 609 and 622 or consent of instructor
Description: An introduction to the design issues of public policy and expenditures. Topics include: externalities (theory, policy issues, and proposed solutions), public goods and Lindahl equilibria, local and excludable public goods, non-convexities and marginal cost pricing, general theory of second-best, game forms and strategic behavior, social choice theory and the Gibbard-Satterthwaite theorem, information and mechanism design, optimal taxation revisited, allocation mechanisms and incentives. Students will prepare brief report/presentations on policy or theoretical areas of interest.
Sample Textbooks:
- Fundamentals of Public Economics, by J.-J. Laffont, The MIT Press, 1988
- A Contribution to the Pure Theory of Taxation, by R. Guesnerie, Cambridge University Press, 1995
- Foundations of Public Economics, by D. A. Starrett, Cambridge University Press, 1988
Professors:
Econ 630: Advanced Monetary Theory
Semester 1 or 2. Credit 3. Prerequisite: Econ 530 or consent of instructor
Description: The course covers current literature on decentralized monetary economies. Topics will be selected from recent research publications that include: studies related to endogenous determination of pattern of exchange, valuation of assets and currencies, price determination and dispersion, and international finance. The material is selected from current journal articles.
Professors: Aliprantis, Saunders
Econ 634: International Trade
Semester 1 or 2. Credit 3. Prerequisite: Econ 607 or consent of instructor
Description: Application of microeconomic techniques to international trade. Topics include: classical, neoclassical and modern theories of international trade: the theory of tariffs and commercial policy (including aspects of political economy), welfare aspects of trade and tariff theory and related topics. The material is selected from current journal articles.
Professors: Xiang, Pomery, Hummels, Naknoi
Econ 635: Monetary International Economics
Semester 1 or 2. Credit 3. Prerequisite: Econ 608
Description: A research seminar on international monetary issues. Topics include: theories of balance of payments and exchange-rate determination, international asset markets and capital flows, breakdowns of pegged exchange-rate regimes, currency substitution, monetary integration, international impacts of alternative monetary, fiscal and intervention policies. Assignments are based on selected articles.
Professors: Kanda Naknoi
Econ 636: Topics and Research in International Trade
Semester 1 or 2. Credit 3. Prerequisite: Econ 607 or consent of instructor
Description: A course in international trade theory and empirics with emphasis on surveying the recent developments in the field--including empirical applications of material covered in Econ 634. While specific subject matter may vary from year to year, likely topics include: theory and empirics on trade and wages, trade and the environment, trade in the presence of multinational firms and vertical specialization, empirical evaluation of the positive theories of trade (especially factor endowment and variety models), and the identification and measurement of trade barriers and their effects. Material is selected from current journal articles.
Professors: Hummels, Xiang, Naknoi
Econ 650: The Economics of Labor Markets
Semester 1 or 2. Credit 3.
Description: Topics in labor economics. While the specific subject matter varies from year to year, recent seminars have examined such topics as dynamic labor demand and supply analysis, human capital theory, screening and signaling theories, contract theory, efficiency wages, job matching, search, unions, and internal labor markets. Material is selected from current journal articles.
Professors: Barron, Mumford
Econ 660: Mathematical Economics I
Semester 1 or 2. Credit 3. Prerequisite: Econ 609 or consent of instructor
Description: A rigorous presentation of the basic mathematical material and tools used in theoretical economics with applications. The mathematical topics covered include: infinite series, continuity of vector-valued functions, semi-continuous functions, linear spaces (finite- and infinite-dimensional), convex analysis and optimization theory. The application topics include: efficiency in growth models, duality of production and cost functions, and optimality analysis of the competitive mechanism.
Sample textbooks:
- Mathematical Methods for Economic Theory, Vols 1 & 2, by J. C. Moore, Springer-Verlag, 1999
- Infinite Dimensional Analysis, 2nd Edition, by C. D. Aliprantis and K. C. Border, Springer-Verlag, 1998
Professors: Aliprantis, Novshek
Econ 661: Mathematical Economics II
Semester 1 or 2. Credit 3. Prerequisite: Econ 660 or consent of instructor
Description: This is a continuation of Econ 660. Mathematical topics include: measure and integration, basic topology, correspondences, Hilbert, Banach, and topological vector spaces, selection and fixed point theorems. Application topics include: existence of competitive equilibrium, the core of an economy, informational efficiency and decentralization in economic systems, incentive compatible mechanisms, models with infinite-dimensional commodity spaces, and game theory.
Sample textbooks:
- Mathematical Methods for Economic Theory, Vols 1 & 2, by J. C. Moore, Springer-Verlag, 1999
- Infinite Dimensional Analysis, 2nd Edition, by C. D. Aliprantis and K. C. Border, Springer-Verlag, 1998
Professors: Aliprantis, Novshek
Econ 668: Topics in Contemporary Economics
Semester 1 and 2. Credit 3. (May be repeated for credit.)
Description: Applied micro workshop. It covers topics from applied microeconomics. Presented by departmental and external speakers.
Econ 670: Probability and Statistics
Semester 1. Credit 3. Prerequisite: Econ 615 or consent of instructor
Description: An introduction to probability theory and the basic statistical estimation methods. Topics include: axiomatic development of probability theory, counting methods, conditional probability and Bayes' theorem, random variables and distributions, expectation, variance, covariance and correlation, special distributions, statistical inference, maximum likelihood estimators, unbiased estimation, and testing hypotheses.
Sample textbooks:
- Probability and Statistics, 2nd Edition, by M. H. DeGroot, Addison-Wesley, 1989
- Introduction to Mathematical Statistics, 5th Edition, by R. V. Hogg and A. T. Craig, MacMillan, 1995
Professors: Aliprantis, Kejriwal
Econ 671: Econometrics I
Semester 2. Credit 3. Prerequisite: Econ 670
Description: An introduction to the modern techniques of econometrics and their applications. Topics include: the classical linear regression model (specification, estimation, inference and prediction), specification analysis, functional form, heteroscedasticity, and autocorrelation.
Sample textbooks:
- Econometric Analysis, by W. H. Greene, Prentice Hall, 2000
- Estimation and Inference in Econometrics, by R. Davidson and G. MacKinnon, Oxford University Press, 1993
Professors: Kejriwal, Bao, Tobias
Econ 672: Econometrics II
Semester 1. Credit 3. Prerequisite: Econ 671 or consent of instructor
Description: This is a continuation of Econ 671. Topics include: estimation and inference in systems of equations, generalized method of moments, introduction to time series models, models with discrete and limited dependent variables, and duration models.
Sample textbooks:
- Econometric Analysis, by W. H. Greene, Prentice Hall, 2000
- Estimation and Inference in Econometrics, by R. Davidson and G. MacKinnon, Oxford University Press, 1993
Professors: Kejriwal, Bao, Tobias
Econ 673: Time Series Econometrics
Semester 1 or 2. Credit 3. Prerequisite: Econ 672
Description: This advanced course gives an up to date and comprehensive treatment of modern time series analysis and empirical macroeconomics. Topics include: ARIMA processes, spectral analysis, forecasting, covariance-stationary vector processes, vector autoregressions, state space representations and the Kalman filter, non-stationary time series and fractional integrated processes, and time series models of heteroskedasticity.
Sample Textbooks:
- Time Series Analysis, by J. D. Hamilton, Princeton University Press, 1994
- Time Series and Dynamic Models, by C. Gourieroux and A. Monfort, Cambridge University Press, 1997
- Econometric Theory, by J. Davidson, Blackwell, 2000
Professors: Kejriwal, Bao, Tobias
Econ 674: Microeconometrics
Semester 1 or 2. Credit 3. Prerequisite: Econ 672 or consent of instructor
Description: This advanced course covers the econometrics and statistical methods needed to study data on individual agents in general qualitative response models and models of limited dependent variables. Special emphasis is placed on applying the alternate estimation and inference techniques to actual or simulated datasets. Topics include: univariate binary models, multinomial and multivariate qualitative response models, choice based sampling, distribution-free estimation methods, and Tobit models.
Sample Textbook:
Advanced Econometrics, by T. Amemiya, Harvard University Press, 1985
Professors:
Econ 676: Economics of Uncertainty and Information I
Semester 1 or 2. Credit 3. Prerequisite: Econ 6l0
Description: This course covers topics in decision theory and the economics of information. Topics include: insurance, non-expected utility theory, capital asset pricing models, stochastic calculus and options pricing models, organizational decision making, herd behavior, search theory and price dispersion models, principal-agent models (including such issues as moral hazard and adverse selection), multiple agents (team production, tournaments, peer pressure, collusion), multiple tasks, multiple periods (reputation, limited commitment, renegotiation), incomplete contracts, and adverse selection topics (including such issues as bid-ask spreads, screening, signaling, and mechanism design). Applications of these models arise in industrial organization, labor economics, and public economics as well as various areas in management. Course readings are primarily from journal articles.
Professors: Barron, Novshek, Casari
Econ 677: Economics of Uncertainty and Information II
Semester 1 or 2. Credit 3. Prerequisite: Econ 676
Description: Continuation of Econ 676.
Professors: Barron, Casari, Novshek
Econ 685: Experimental Economics I
Semester 1 or 2. Credit 3. Prerequisite: Econ 607 (Econ 610 recommended)
Description: An overview of seminal and recent developments in experimental economic research. The course provides practical training in designing and conducting experiments, and the analysis of experimental data. Contents of course vary from year to year. Applications include industrial organization, game theory, finance, international trade, information economics, and monetary economics. Course readings are primarily from journal articles.
Professors: Cason
Econ 686: Experimental Economics II
Semester 1 or 2. Credit 3. Prerequisite: Econ 607 (Econ 610 recommended)
Description: This course covers topics different from Econ 685, and they vary from year to year. This course may be taken prior to Econ 685. Course readings are primarily from journal articles.
Professors: Cason
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