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 Covers five areas within the general field of international economics: (i) microeconomic issues of why countries trade, how the gains from trade are distributed, and protectionism; (ii) macroeconomic issues such as exchange rates, balance of payments and open economy macroeconomic adjustment, (iii) the role of international institutions (World Bank, IMF, etc); (iv) economic development and (v) economies in transition.
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 and ECON UN3213 or the equivalent. Introduction to the principles of money and banking. The intermediary institutions of the American economy and their historical developments, current issues in monetary and financial reform.
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) Course objective: This course has two objectives: (1) To develop students' skills in research and writing. Specifically, participants will work on: formulating a research question, placing it in the context of an existing literature and/or policy area, and using economic and econometric tools to address it in writing. Specifically, in the first part of the class, readings, problem sets, and a midterm exam will build skills in these areas. In the second part, students will come up with a research question, and address it in a research proposal/report. While all the applications will be on the economics of education, these skills will be useful in students' subsequent careers,regardless of the area of economics they focus on. (2) To provide an introduction to key issues in the economics of education. Specifically, education is a signicant industryevery person entering this course will have already spent years in this industry as a customer, as a worker, as an input, or all of the above. The course will address questions like: What does economics have to say about how this industry is organized and what determines its output? Why do individuals invest in education? What determines the behavior, productivity, and reputation of rms in the industry? What role should government and public policy (if any) play in its operation?
Prerequisites: ECON UN3211 and ECON UN3213 and MATH UN2010 Students must register for required discussion section. Corequisites: MATH UN2500,MATH GU4061 The course provides a rigorous introduction to microeconomics. Topics will vary with the instructor but will include consumer theory, producer theory, general equilibrium and welfare, social choice theory, game theory and information economics. This course is strongly recommended for students considering graduate work in economics. Discussion section required.
Prerequisites: ECON UN3211 and ECON UN3213 and MATH UN2010 Students must register for lecture course ECON GU4211 Corequisites: MATH UN2500MATH GU4061 Required discussion section for ECON GU4211 Advanced Microeconomics. The course provides a rigorous introduction to microeconomics. Topics will vary with the instructor but will include consumer theory, producer theory, general equilibrium and welfare, social choice theory, game theory and information economics. This course is strongly recommended for students considering graduate work in economics. Discussion section required.
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 and STAT Un1201 This course takes New York as our laboratory. Economics is about individual choice subject to constraints and the ways that choices sum up to something often much more than the parts. The fundamental feature of any city is the combination of those forces that bring people together and those that push them apart. Thus both physical and social space will be central to our discussions. The underlying theoretical and empirical analysis will touch on spatial aspects of urban economics, regional, and even international economics. We will aim to see these features in New York City taken as a whole, as well as in specific neighborhoods of the city. We will match these theoretical and empirical analyses with readings that reflect close observation of specific subjects. The close observation is meant to inspire you to probe deeply into a topic in order that the tools and approaches of economics may illuminate these issues in a fresh way.
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 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.
Prerequisites: W3211, W3213, W3412. Corequisites: MATH V2010. This course focuses on the application of econometric methods to time series data; such data is common in the testing of macro and financial economics models. It will focus on the application of these methods to data problems in macro and finance.
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 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 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 Introduction to monetary problems in international trade. Topics include macroeconomics of the open economy under fixed and flexible exchange rates, international adjustment under the gold standard, monetary problems of the interwar period, the Breton Woods agreement, transition to flexible exchange rates, planned reforms of the international monetary system and the Eurocurrency markets.
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Neoclassical finance theory seeks to explain financial market valuations and fluctuations in terms of investors having rational expectations and being able to trade without costs. Under these assumptions, markets are efficient in that stocks and other assets are always priced just right. The efficient markets hypothesis (EMH) has had an enormous influence over the past 50 years on the financial industry, from pricing to financial innovations, and on policy makers, from how markets are regulated to how monetary policy is set. But there was very little in prevailing EMH models to suggest the instabilities associated with the Financial Crisis of 2008 and indeed with earlier crises in financial market history. This course seeks to develop a set of tools to build a more robust model of financial markets that can account for a wider range of outcomes. It is based on an ongoing research agenda loosely dubbed “Behavioral Finance”, which seeks to incorporate more realistic assumptions concerning human rationality and market imperfections into finance models. Broadly, we show in this course that limitations of human rationality can lead to bubbles and busts such as the Internet Bubble of the mid-1990s and the Housing Bubble of the mid-2000s; that imperfections of markets — such as the difficulty of short-selling assets — can cause financial markets to undergo sudden and unpredictable crashes; and that agency problems or the problems of institutions can create instabilities in the financial system as recently occurred during the 2008 Financial Crisis. These instabilities in turn can have feedback effects to the performance of the real economy in the form of corporate investments.
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 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: 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: 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: ECON UN3211 and ECON UN3213 and ECON UN3412 and sign-up in the departments office. Registration information is posted on the departments Seminar Sign-up webpage. Analyzing data in a more in-depth fashion than in ECON UN3412. Additional estimation techniques include limited dependent variable and simultaneous equation models. Go to the departments undergraduate Seminar Description webpage for a detailed description.
Prerequisites: ECON W3211, W3213, W3412 (or POLS 4711), W4370. Registration information is posted on the departments Seminar Sign-up webpage. Required for majors in the joint program between political science and economics. Provides a forum in which students can integrate the economics and political science approach to political economy. The theoretical tools learned in political economy are applied: the analysis of a historical episode and the empirical relation between income distribution and politics on one side and growth on the other.
Prerequisites: ECON W3211, W3213, W3412 (or POLS 4711), W4370. Registration information is posted on the departments Seminar Sign-up webpage. Required for majors in the joint program between political science and economics. Provides a forum in which students can integrate the economics and political science approach to political economy. The theoretical tools learned in political economy are applied: the analysis of a historical episode and the empirical relation between income distribution and politics on one side and growth on the other.
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 GR5215 Discussion Section for Economics MA Course Microeconomics Analysis II.
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 G6216 and G6412, or the instructor's permission. This course deals with business cycle theories and methods for evaluating such theories. The course extends the canonical real business cycle model to analyze models with cyclical variation in markups, models of endogenous fluctuations, and models of news-driven short-run fluctuations. Attention is given to numerical methods to approximate the dynamics implied by stochastic general equilibrium models, with particular emphasis given to perturbation methods. The course will also include an operational introduction to full and limited-information approaches to the estimation of DSGE models.
Prerequisites: ECON GR6211 and ECON GR6212 and ECON GR6215 and ECON GR6216 and ECON GR6411 and ECON GR6412 and ECON GR6410 and ECON GR6930 This course brings students to the frontier of research in International Macroeconomics. It covers developments in a number of topics relevant for understanding the workings of open economies, including financial frictions, sovereign default, nominal frictions and exchange-rate policy, terms-of-trade shocks and real exchange-rate determination. By the end of the course, students are expected to demonstrate ability to formulate, characterize, estimate, and simulate theoretical and statistical models at the level of a paper publishable in a top field journal.
This course will focus on the game-theoretic study of long-run relationships. My
goal is to equip you to (i) create tractable models appropriate for studying whatever
applied settings interest you, and (ii) study such interactions in detail. Toward that
goal, we'll talk about important papers that develop the state of the art in dynamic
modeling, papers that point to subtleties/complexity in the study of dynamic and
repeated games, and papers that sidestep the latter to address speci?c applied questions.
See the course outline below for a list of topics we'll cover, together with the
speci?c papers that will come up along the way. We will cover some classic papers,
but more recent work is (deliberately) overrepresented here. Of course, this list of
topics and papers is not meant to be comprehensive, but I hope it will be a useful,
brief tour of the literature.
This class being a topics course, familiarity with basic tools of economic theory
and game theory that were covered in the ?rst-year micro sequence is essential.
Networks help us describe the complex interactions that occur among large populations of distinct
entities. Some have argued that their incorporation into economic models represents a paradigm
change for the ?eld. This course will introduce you to the central questions in current networks
research as well as the tools and methods used to study networks in economic theory. Topics we
will cover include network games and interventions, di?usion processes, network formation, social
learning and opinion dynamics, and networked markets. The course is divided into two halves. The
rst half will consist of lectures on these topics. In the second half, we will read and discuss recent
research papers.
Prerequisites: ECON G6211 and ECON G6212. This is an empirical course comprised of two parts. The first part examines single agent dynamics, and multi-agent dynamics (dynamic games). Both methodological advances and empirical applications will be discussed. Some of the topics that will be covered include: investment and replacement problems, durable goods, consumer learning, price dispersion and search costs, learning by doing, and networks and switching costs. There will be a strong focus on estimation details of dynamic oligopoly models. The second part of the course will review empirical models of imperfect information including auctions, moral hazard, and adverse selection.
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.
Prerequisites: ECON G6211, ECON G6212 or the instructor's permission. Survey of recent work on the microeconomics of the industrial sector in developing countries, with a primarily empirical focus. Topics include: credit constraints, industrial organization and market structure, learning and technology adoption, dualism in labor markets, varieties of labor contracts, returns to skill, the informal sector, trade and foreign direct investment, and the political economy of industrial policy.
Corequisites: ECON G6410 and the director of graduate studies permission. Introduction to the general linear model and its use in econometrics, including the consequences of departures from the standard assumptions.
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 GR6410 and ECON GR6411 and ECON GR6412 and ECON GR6493 Models of errors and biases in judgments, in the domains of perception, statistical inference, and decision making. Experimental evidence and theoretical analyses from economics, psychology, computational neuroscience, and computer science will be discussed and compared. Topics treated will include signal detection theory, stochastic choice, diffusion-to- bound models, decision by sampling, probability matching, rational inattention, efficient coding theories, theories of salience or focus- weighted valuations, reference-dependent or context-dependent valuations, and reinforcement learning.
Prerequisites: ECON G6412, ECON G6411, ECON G6215, ECON G6211. Corequisites: ECON G6212, ECON G6216, ECON G6412. This course will critically examine mainstream approaches to economic theory and practice, particularly in the areas of macroeconomic stabilization policy, poverty reduction, economic development, environmental sustainability, and racial and gender inequality. Topics will vary from year to year, but may include responses to the credit crisis and Great Recession, global warming and international negotiations, globalization, the measurement of poverty and inequality, different approaches to poverty reduction, AIDS and malaria, mass imprisonment, childrens wellbeing, the IMF and the World Bank, intellectual property in an international context, racial disparities in life expectancy, public pension systems in developed countries, health care, and homelessness. The course will also examine biases in economic discourse, both among policy makers and scholars.
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: G6211, G6212, G6215, G6216, G6411, G6412. Students will present their research on topics in Microeconomics.
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.