Global Arc

Topics include consumer and firm behavior, market equilibrium, efficiency, an introduction to game theory, and information economics. Uses multivariable calculus and linear algebra to treat the topics in greater depth and to better prepare for advanced courses. Prerequisites: MAT 201 or ECO 201, or instructor permission. Two lectures, one precept.

This course examines the determinants of economic growth, business cycle fluctuations, and the conduct of monetary and fiscal policy. The first part of the course develops a framework for the analysis of households' consumption and savings behavior and firms' production decisions, and uses that to analyze long-run growth and financial crises. The second part of the course extends that analysis to examine business cycle fluctuations, including inflation, unemployment. Current issues in macroeconomic and financial policy are discussed throughout. Prerequisites: MAT 201 or ECO 201, or instructor permission. Two lectures, one precept.

Statistical analysis of economic data. The two-variable regression model, multiple regression. Techniques for dealing with violations of the regression model's assumptions, including autocorrelation, heteroscedasticity, specification error, and measurement error. Dummy variables, discrete-choice models, time series models, and forecasting. Introduction to simultaneous equations. Estimation and testing of economic models will be an important part of the course. Prerequisites: MAT 201 or equivalent and ECO 202 or equivalent or instructor permission. MAT 202 is recommended. Two 90-minute lectures, one precept.

This course provides hands-on experience in econometric analysis designed to help students to acquire the skills necessary to carry out their own empirical analyses in economics. Various aspects of empirical research in economics will be covered, including development of testable economic models, appropriate use of data, identification and causal inference, and specification and techniques for estimation of econometric models. Prerequisites: 302 or 312; and calculus. Two lectures, one precept.

By extending ECO 300-level macroeconomics, we develop alternative macroeconomic frameworks with financial frictions to understand business cycles, financial crises and public policy. The lecture begins with a historical overview of financial crises and basic financial accelerator models which emphasizes the interaction between borrowing constraint, asset prices and aggregate production. We then introduce financial intermediaries and government to study banking crisis, credit policy and macro prudential policy. Two 90-minute lectures, one precept.

The microeconomic theory of individual decision making under uncertainty and economic interaction under asymmetric information. Topics include expected utility, value of information, risk-sharing in insurance and asset markets, contracting with moral hazard and adverse selection, and auctions. Applications include health insurance and finance. Prerequisites: 300, MAT 175 or equivalent, and basic probability. Two lectures, one precept.

This class will cover the economics of gender, especially focusing on women's role in the economy. We will cover workplace discrimination, policies to promote gender equality, the historical evolution of economic gender roles in the US, and initiatives to promote women's empowerment in developing countries.

This course builds on ECO302/312. It will introduce students to additional econometric methods. The emphasis will be on methods that are useful for applied microeconomics. Topics will include simple methods for program evaluation: instrumental variables estimation, regression discontinuity, sample selection models, matching methods and construction of bounds. The course will also introduce econometric models that should be part of any empirical economist's toolbox. This includes discrete choice, quantile regression and duration and models. The course will attempt to emphasize the usefulness of the methods more than the technical details.

This course covers the evolution of racial inequality in the US, with a focus on Black-white economic disparities. We will study racial gaps in income and wealth over the 20th century and examine the role of public policy in mitigating or exacerbating this inequality. Students will come away with an understanding of key episodes of racial progress and will hone their data science skills by analyzing historical data to make evidence-based proposals for reducing group-based inequality. Finally, the course will build students' research literacy by supplementing readings of technical papers with policy briefs, podcasts, and op-eds.

An economic analysis of the structure of markets and of corporate behavior. The development and interpretation of public policies, including antitrust legislation and direct regulation related to market structure, corporate mergers, restrictive and discriminatory practices, advertising, and research and development. Two lectures, one class. Prerequisites: 300 or 310, and MAT 175 or equivalent.