Corequisites: ECON UN1155 How a market economy determines the relative prices of goods, factors of production, and the allocation of resources and the circumstances under which it does it efficiently. Why such an economy has fluctuations and how they may becontrolled.
Required Discussion section for ECON UN1105 Principles of Economics
Prerequisites: ECON UN1105 The course surveys issues of interest in the American economy, including economic measurement, well-being and income distribution, business cycles and recession, the labor and housing markets, saving and wealth, fiscal policy, banking and finance, and topics in central banking. We study historical issues, institutions, measurement, current performance and recent research.
Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 Institutional nature and economic function of financial markets. Emphasis on both domestic and international markets (debt, stock, foreign exchange, eurobond, eurocurrency, futures, options, and others). Principles of security pricing and portfolio management; the Capital Asset Pricing Model and the Efficient Markets Hypothesis.
Prerequisites: ECON UN1105 and MATH UN1101 and (MATH UN1201 or MATH UN1207) The determination of the relative prices of goods and factors of production and the allocation of resources.
Required Discussion section for ECON UN3211 intermediate Economics.
Prerequisites: (MATH UN1101 or MATH UN1207) and ECON UN1105 or the equivalent. Corequisites: MATH UN1201 This course covers the determination of output, employment, inflation and interest rates. Topics include economic growth, business cycles, monetary and fiscal policy, consumption and savings and national income accounting.
Discussion section for ECON UN3213 Intermediate Macro. Student must register for a section.
Prerequisites: (ECON UN3211 or ECON UN3213) and (MATH UN1201 or MATH UN1207) and STAT UN1201 Modern econometric methods; the general linear statistical model and its extensions; simultaneous equations and the identification problem; time series problems; forecasting methods; extensive practice with the analysis of different types of data.
Required discussion section for ECON UN3412: Intro to Econometrics
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 and MATH UN2010 Required discussion section ECON GU4214 An introduction to the dynamic models used in the study of modern macroeconomics. Applications of the models will include theoretical issues such as optimal lifetime consumption decisions and policy issues such as inflation targeting. This course is strongly recommended for students considering graduate work in economics.
Prerequisites: ECON UN3211 and ECON UN3213 The study of industrial behavior based on game-theoretic oligopoly models. Topics include pricing models, strategic aspects of business practice, vertical integration, and technological innovation.
Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 This course uses modern microeconomic tools for understanding markets for indivisible resources and exploring ways to improve their design in terms of stability, efficiency and incentives. Lessons of market design will be applied to developing internet platforms for intermediating exchanges, for auctions to allocate sponsored search advertising, to allocate property rights such as public lands, radio spectrums, fishing rights, for assigning students to public schools, and for developing efficient kidney exchanges for transplantation.
Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 An introduction to the economics principles underlying the financial decisions of firms. The topics covered include bond and stock valuations, capital budgeting, dividend policy, market efficiency, risk valuation, and risk management. For information regarding REGISTRATION for this course, go to: http://econ.columbia.edu/registration-information.
Prerequisites: ECON UN3211 and ECON UN3213 Empirical findings on economic development, theoretical development models; problems of efficient resource allocation in a growing economy; balanced and unbalanced growth in closed and open economic systems; the role of capital accumulation and innovation in economic growth.
Prerequisites: ECON UN3211 and ECON UN3213 Historical comparative examination of the economic development problems of the less developed countries; the roles of social institutions and human resource development; the functions of urbanization, rural development, and international trade.
The objective of this course is to develop understanding of how political institutions and behavior shape economic outcomes, and vice versa. Starting from the micro level study of political behavior, we will build up to analyze the internal workings of institutions and ultimately macro level economic and political outcomes. During the course we will cover the following topics
• Limits and potential of markets
• Public goods provision
• Voting
• Redistribution
Prerequisites: ECON UN3211 and ECON UN3213 Introduction to the systematic treatment of game theory and its applications in economic analysis.
Prerequisites: ECON UN3211 and ECON UN3213 ECON GU4400 is strongly recommended. What differences does race make in the U.S. economy? Why does it make these differences? Are these differences things we should be concerned about? If so, what should be done? The course examines labor markets, housing markets, capital markets, crime, education, and the links among these markets. Both empirical and theoretical contributions are studied.
Prerequisites: ECON UN3211 and ECON UN3213 Types of market failures and rationales for government intervention in the economy. Benefit-cost analysis and the theory of public goods. Positive and normative aspects of taxation. The U.S. tax structure.
Prerequisites: ECON UN3211 and ECON UN3213 This course studies gender gaps, their extent, determinants and consequences. The focus will be on the allocation of rights in different cultures and over time, why women's rights have typically been more limited and why most societies have traditionally favored males in the allocation of resources.
Prerequisites: ECON UN3211 and ECON UN3213 The theory of international trade, comparative advantage and the factor endowments explanation of trade, analysis of the theory and practice of commercial policy, economic integration. International mobility of capital and labor; the North-South debate.
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Selected topics in microeconomics.
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Selected topics in microeconomics.
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Selected topics in microeconomics.
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Selected topics in microeconomics.
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Selected topics in microeconomics.
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Selected topics in microeconomics.
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Registration information is posted on the departments Seminar Sign-up webpage. Selected topics in macroeconomics. Selected topics will be posted on the departments webpage.
Prerequisites: the director of undergraduate studies permission. Provides students with the experience of participating in the research process by matching them to a faculty mentor who will put them to work on one of his or her current research projects. A list of available research positions is distributed each semester on the major listserv.
Prerequisites: the director of undergraduate studies permission.
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 and the director of the departmental honors programs permission. Students must have a minimum GPA of 3.7 in all required major courses, including calculus and statistics, prior to enrollment. The honors thesis seminar is a year-long course, beginning in the fall semester and ending in the spring semester. Students who have been approved to enter the workshop will be registered for both semesters by the department during the first two weeks of classes; 3 points are earned per semester. This workshop may only be taken by students applying for departmental honors, and it also fulfills the economics seminar requirement for the economics major and all joint majors. Students must see the director during mid-semester registration in the spring to discuss their proposed thesis topic, at which time they will be matched with appropriate faculty who will act as their thesis adviser. Students will meet their adviser over the course of the year at mutually agreed upon times. A rough draft of the thesis will be due during the first week of February in the spring semester, and the final draft will be due three weeks before the last day of classes. Please note that for those joint majors that require two seminars, one in economics and one in the other discipline (i.e. Political Science), the economics senior honors thesis seminar only fulfills the economics seminar requirement.
Corequisites: ECON G5215 Discussion Section for Economics MA Course Macroeconomics Analysis I.
Corequisites: ECON G5411 Discussion Section for Economics MA Course Econometrics I.
Corequisites: ECON GR5410 Discussion Section for Economics MA Course Math Methods for Economists.
This course provides an opportunity for students in the Economics Master of Arts Program to engage in off-campus internships for academic credit that will count towards their requirements for the degree. The internships will facilitate the application of economic skills that students have developed in the program and prepare them for future work in the field.
This is a required course that facilitates the capstone research paper writing process for second-year students enrolled in the M.A. Program in Economics. The research paper provides an opportunity to write a substantial piece of academic work in which the student is expected to demonstrate mastery of a field, along with the ability to think originally and to convey results clearly in writing.
This is a topics course in financial economics intended for Economics MA students. The focus of the course is on applied methods, including training with financial data, estimation methods, and identification strategies for causal analysis in finance research. Students will cover papers and gain practical experience in execution algorithms, machine learning in asset pricing, asset demand systems, financial intermediaries, trading costs, and passive investments. Prior coding and programming experience in a specific language are not strictly necessary, but basic knowledge of R or Python are helpful.
Prerequisites: the director of graduate studies' permission. Corequisites: ECON G6410. Consumer and producer behavior; general competitive equilibrium, welfare and efficiency, behavior under uncertainty, intertemporal allocation and capital theory, imperfect competition, elements of game theory, problems of information, economies with price rigidities.
Prerequisites: the director of graduate studies' permission. Concept of full employment. Models of underemployment and theory applicability, determinants of consumption and of investment, multiplier and accelerator analysis, an introduction to monetary macroeconomics, the supply side and inflation. Integration of macroeconomics with microeconomic and monetary analysis.
Prerequisites: ECON G6211 and ECON G6212 or the instructor's permission. This course provides an introduction to a number of exciting research questions in industrial organization and organizational economics. While most of the content is theoretical, great emphasis is placed on the testable implications of the models we study: related empirical work is surveyed. The course aims to bring students to the research frontier by identifying open research questions and highlighting particularly active research areas.
Prerequisites: G6211, G6212, G6215, G6216, G6411, G6412 or the instructor's permission. This course covers prominent topics in micro-development economics. Lectures and readings will cover theoretical frameworks; emphasize empirical research; and highlight gaps in the literature.
This course is a PhD-level introduction to political economy. The first part of the course is mostly theoretical and covers the most widely used models in topics such as social choice, direct and indirect democracy, accountability, lobbying, and redistributive politics. The second part of the course is a mix of abstract theory, applied theory and empirical work, and it covers some of the most research-active areas in political economy, such as media, corruption, and institutions.
Prerequisites: multi-variable differential calculus, linear algebra and basic real analysis. Introduction to the mathematical techniques needed for the study of economics and econometric methods. Topics include the vector spaces, Hilbert spaces, Banach spaces, linear transformations; optimization theory, and linear differential and difference equations.
Corequisites: ECON G6410 and the director of graduate studies' permission. Introduction to probability theory and statistical inference.
This is the first course of the second year PhD econometrics sequence with emphasis on both economic applications and computationally intense methods for analysis of large and/or complex models. Students can attend the whole sequence or only one of them. While the details of the econometric techniques will be discussed extensively, the core and focus of the course is on the applications of these techniques to the study of actual data. Students will be practiced in econometric methods through computer-based exercises.
Prerequisites: Students should have a good understanding of graduate econometrics and should have taken ECON G6411 and G6412.
Prerequisites: completion of 1st year graduate program in Economics, or the instructor's permission plus passage of the math qualifying exam. Introduction to labor economics, theory and practice.
Prerequisites: (ECON GR6211 and ECON GR6212 and ECON GR6215 and ECON GR6216 and ECON GR6412 and ECON GR6411 and This course will provide an overview of current research on the economics of education. The course will pay special attention to: i) the use of credible research designs, and ii) the use of theory in evaluating the mechanisms that underlie the identied eects
Prerequisites: Completion of 1st year graduate program in Economics, or the instructor's permission. The standard model of economic behavior describes a perfectly rational, self interested utility maximizer with unlimited cognitive resources. In many cases, this provides a good approximation to the types of behavior that economists are interested in. However, over the past 30 years, experimental and behavioral economists have documented ways in which the standard model is not just wrong, but is wrong in ways that are important for economic outcomes. Understanding these behaviors, and their implications, is one of the most exciting areas of current economic inquiry. This course will study three important topics within behavioral economics: Bounded rationality, temptation and self control and reference dependent preferences. It will draw on research from behavioral economics, experimental economics, decision theory, psychology and neuroscience in order to describe the models that have been developed to explain failures of the standard approach, the evidence in support of these models, and their economic implications.
Prerequisites: ECON G6211, ECON G6212. Market Design is an emerging field in economics that attempts to devise a practical scheme for allocating scarce resources to individuals who value them. Its applications involve many important real life problems ranging from allocation of government resources such as public land, fishing/mineral rights, radio spectrum licenses, allocation of school choice and transplantable human organs, assignment of workers to jobs, to placement of advertising in Internet search engines. Mechanism design underpins the field as a general methodological framework, which is in turn operationalized by two branches of theories: 1) Auction Theory and 2) Matching Theory. The course will provide a guide through these theories and discusses a few applications along the way.
This is an advanced graduate-level course in international macro-finance. The course focuses on empirical research and applied theory. This course is targeted to second year PhD students in business economics, economics, finance and related disciplines, including Columbia Business School MSFE students that have completed their first-year courses.
The course assumes familiarity with basic theoretical modeling techniques such as dynamic optimization and general equilibrium modeling. Similarly, the course assumes familiarity with basic empirical methods and with econometric software of your choice (Stata, Python, Matlab, etc.). Students without all the necessary prerequisites and familiarity with these techniques are welcome to take the course but should expect to have to fill the gaps on their own.
There is no required textbook for the course since we will mainly read and discuss papers on the reading list. The following resources will be used extensively:
-Handbook of International Economics, Volume 5, forthcoming.
Link
-Stanford Big-Data Initiative in International Macro-Finance Videos:
Link
Prerequisites: ECON G6411 and G6412. Students will make presentations of original research.
Prerequisites: G6215 and G6216. Open-economy macroeconomics, computational methods for dynamic equilibrium analysis, and sources of business cycles.
Prerequisites: the instructors permission. Students will make presentations of original research.
Prerequisites: the instructors permission. Students will make presentations of original research.
Prerequisites: G6215, G6216, G6211, G6212, G6411, G6412. Students will make presentation of original research in Microeconomics.
Prerequisites: G6215, G6216, G6211, G6212, G6411, G6412. Students will make presentations of original research in Microeconomics.
Columbia faculty and guest speakers present research related to Labor and Public Economics.