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Department of Economics

Our department strives to be among the best in six fields: econometrics, industrial organization, international trade, labor economics, macroeconomics, and public economics. The following are the courses we offer in each of those fields. Note that availability of courses depends on student demand and faculty resources, and as such, not all are offered every year.

Econometrics

Econometrics I

Fundamentals of econometric analysis. The classical linear model, multi-collinearity, specification error, distributed lags, non-normal disturbances, dummy variables, generalized least squares, autocorrelation, heteroscedasticity. Applications to specific problems.

Econometrics II

Continuation of Econometrics I. Stochastic regressors, asymptotic results, instrumental variable estimation, systems of equations, maximum likelihood estimation, nonlinear least squares, and other miscellaneous topics in econometrics.

Time Series Econometrics

Discussion of recent advances in time series econometrics. Economic forecasting, vector autoregressive modeling, unit root testing, cointegration, and other topics.

Microeconometrics

A survey of recent advances in microeconometrics, including panel data, treatment effects, and other topics, to provide students with the analytical tools used in economic research.

Macroeconometrics

Selected topics in empirical macroeconomics and econometrics.

Industrial Organization

Theory of Industrial Organization

Theory of industrial organization and its analytical techniques. Game theory; monopoly pricing; product and quality selection; vertical control; static and dynamic theories of oligopoly; product differentiation, price dispersion, and advertising; asymmetric information and strategic behavior.

Empirical Industrial Organization

The course is predominantly empirical in nature, and uses econometric methods to analyze market outcomes resulting from behavior and strategy of economic agents in imperfectly competitive markets.  Topics may include:  Models of Consumer Demand and Methods of Estimation; Identifying and Measuring Market Power and Market Effects of Mergers; Static Models of Entry and Industry Structure; Single-Agent Dynamic Structural Models; Dynamic Oligopoly Games; Production, Technology and Industry Structure; and other recent advances in empirical industrial organization.

International Trade

Advanced International Economics

Theoretical and policy issues related to the international monetary system, capital movements, exchange rate systems, the U.S. balance of payments, and trade of underdeveloped countries.

International Trade Theory and Policy

Discussion of recent literature in trade theory and policy under imperfect competition. International trade in imperfectly competitive international markets, strategic trade policies, political economy of trade protectionism, welfare effects of trade liberalization and economic integration, and other issues.

Topics in International Trade and Development Economics

This course covers key topics of current interest. Topics covered include the new theories of (1) firm-level comparative advantage and (2) offshoring outsourcing and multinational activities. Both the theories and their empirical support will be carefully examined. Additional topics include the impact of domestic institutions on international trade and the role of quality in trade.

Labor Economics

Labor Economics Seminar

A critical analysis of wage theories, collective bargaining, and unemployment problems.

Advanced Labor Economics

An examination of studies in labor supply, labor demand, immigration, and current topics in labor economics.

Macroeconomics

Macroeconomic Theory I

An introduction to modern analysis in macroeconomics with an emphasis on dynamic methods and general equilibrium analysis.

Macroeconomic Theory II

A study of advanced topics in macroeconomic theory including general equilibrium analysis, economic growth, business cycle theory, and other developments in macroeconomic theory.

Topics in Macroeconomics

Current topics in macroeconomics with an emphasis on empirical modelling. Example topics include macroeconometrics, growth, business cycles, monetary economics, and the macroeconomics of public policy.

Macroeconomic Modelling

Examines current topics in macroeconomics with an emphasis on empirical modelling. The course will be structured to allow the student an in-depth look at influential articles in the literature through presentations and required summary papers, and apply similar skills in an assigned original research paper.

Microeconomics

Advanced Microeconomic Theory I

An examination of demand, production, and cost theories; a discussion of duality theory and the application of the Le Chatelier principle; an analysis of price and output determination in different market structures.

Advanced Microeconomic Theory II

A study of advanced topics in economic theory, including general equilibrium theory, welfare economics, and risk and uncertainty.

Public Economics

Public Sector Analysis

Conditions for economic efficiency in the public sector; public good production functions; nonmarket decision making; rationale for public sector growth; systems analysis, cost-benefit and related techniques of allocating public goods.

Other Courses

Our graduate students are not limited to taking courses in our six fields of emphasis. The following is a list of other graduate courses in our department and courses commonly taken in other departments.

Mathematical Economics

Application of mathematical tools of concrete problems in micro- and macro-economics; mathematical treatment of models of consumption, production, market equilibrium, and aggregate growth.

Location of Economic Activities

An examination of the theory of location including central place theory, location of the individual producer, industrial location patterns, and urban land-use models. Also includes application of theoretical models to current urban problems.

Theory and Methods of Regional Economic Analysis

A consideration of differences in regional and urban growth; comparison of alternative growth theories; methods of analyzing regional economics such as input-output analysis, linear programming, industrial complex, and spatial interaction models.