Course Listings

Required Classes

GR5211 Microeconomic Analysis I

Decision theory, theory of the firm, and consumer behavior; introduction to general equilibrium theory and welfare economics.

GR5212 Microeconomic Analysis II

Game theory, including extensive form solution concepts, bargaining, and repeated games; information economics, contract theory and mechanism design.

GR5215 Macroeconomic Analysis I

Macroeconomic theory applied to aggregate supply and demand and their components, designing and implementing macroeconomic policy goals and forecasting GDP and its components. Models of national income determination; sectorial inflation; labor markets, production theories, and aggregate supply models; supply and demand for money; foreign trade and balance of payments.

GR5216 Macroeconomic Analysis II

Classical and Keynesian macroeconomic thought, modern-day microeconomic theories of money-wage and price determinations, and reconstruction of macro theory.

GR5410 Mathematical Methods for Economists

Applications of mathematics to economics: functions, simultaneous equations; linear models and matrix algebra; determinants, inverse matrix, Cramer's rule; differentiation and optimization of functions of one or more variables; quadratic forms, characteristic roots and vectors, constrained optimization; interpretation of the Lagrange multiplier. Techniques applied to examples from the theory of the firm and consumer behavior.

GR5411 Econometrics I

Review and introduction of topics in probability and statistics needed to understand applied statistics and econometric techniques for quantitative research and analysis. The topics reviewed include random variables, discrete and continuous probability distributions, mathematical expectations, estimation and inference. The topics introduced include simple and multivariate regression models, least squares estimation, hypothesis testing, and specification analysis.

GR5412 Econometrics II

Introduction of topics needed to understand advanced applied statistics and econometric techniques for quantitative research and analysis. Topics include the Generalized Regression Model, Instrumental Variables, Systems of Equations, Panel Data Analysis, Discrete Choice Models and Time Series Analysis.

ELECTIVE COURSES

Students are required to take three out of these six elective courses:

GR5218 Advanced Microeconomics

The class will build on the tools introduced in Microeconomics I and II and show how they are applied to illuminate economic relationships. Some of the topics the course will discuss are: game theory and its use in international organization; recent theories of decision-making; auctions and market design.

GR5220 Advanced Macroeconomics

This class will familiarize students with advances in monetary economics, business-cycle theory, and growth theory. It will teach tools to model inflation and output dynamics and the role of optimal monetary policy. It will discuss theory and evidence of fiscal stabilization policy.

GR5311 Economic Policy Analysis

The purpose of this course is to show how economic methods can be used to inform economic policy in a wide range of areas pertaining to development, health, education, and labor. Specific topics will be chosen each year; the class will introduce widely applied econometric techniques and discuss the relevant empirical literature.

GR5415 Advanced Econometrics

The class emphasizes practical applications of econometric theory. The course will discuss the issues that arise in specifying, estimating, and testing microeconomic and macroeconomic theories. Students will learn how to apply these methods on real-world data.

GR5711 Financial Economics

This class will discuss financial markets and asset pricing from the perspective of economic theory. While the stress will be on modeling and tools, the course will also introduce the empirical methodologies and the calibration techniques used in financial economics, as well as some of the most recent evidence on asset prices.

GR5911 International Economics

This course covers both microeconomic and macroeconomic aspects of international relations. It will introduce the theory of international trade and of trade policy, as well as the main concepts of open-economy macroeconomics and international finance.