Economics (ECON)

* ECON 002b, Social Issues in AmericaRebecca Toseland

This seminar investigates how data and economics can be used to understand and solve some of the most pressing contemporary social issues in the United States. Topics include equality of opportunity, education, health, climate change, criminal justice, and discrimination. In the context of these topics, the course provides an introduction to some basic economic concepts and data analysis techniques. No prior knowledge of economics or statistics is assumed.  Enrollment limited to first-year students.  SO
TTh 1pm-2:15pm

* ECON 108a, Quantitative Foundations of MicroeconomicsTolga Koker

Introductory microeconomics with a special emphasis on quantitative methods and examples. Intended for students with limited or no experience with calculus. Enrollment limited.  May not be taken after ECON 110 or 115.  QR, SO
F 9:25am-10:15am, TTh 11:35am-12:50pm

* ECON 110a or b, An Introduction to Microeconomic AnalysisStaff

Similar to ECON 115, but taught as a lecture discussion with limited enrollment. Enrollment limited to first-years and sophomores.  May not be taken after ECON 108 or 115.  QR, SO

* ECON 111a, An Introduction to Macroeconomic AnalysisMarnix Amand

Similar to ECON 116, but taught as a lecture discussion with limited enrollment. Enrollment limited to first-years and sophomores.  May not be taken after ECON 116. Prerequisite: ECON 108, 110, or 115.  SO
MW 2:30pm-3:45pm

ECON 115a, Introductory MicroeconomicsStaff

An introduction to the basic tools of microeconomics to provide a rigorous framework for understanding how individuals, firms, markets, and governments allocate scarce resources. The design and evaluation of public policy. May not be taken after ECON 108 or 110.   QR, SO0 Course cr

ECON 116a, Introductory MacroeconomicsStaff

This course is an introduction to macroeconomics. We begin by asking why some countries produce so much more output than others. We investigate the role of savings and investment, research and development, and the economic institutions that determine them. We then ask what determines output, unemployment, inflation, and interest rates over time, why they fluctuate over time, and how policymakers affect them. May not be taken after ECON 111. Prerequisite: ECON 108, 110, or 115.   SO0 Course cr

ECON 117a or b, Introduction to Data Analysis and EconometricsStaff

Introduction to data analysis from the beginning of the econometrics sequence; exposure to modern empirical economics; and development of credible economic analysis. This course emphasizes working directly and early with data, through such economic examples as studies of environmental/natural resource economics, intergenerational mobility, discrimination, and finance. Topics include: probability, statistics, and sampling; selection, causation and causal inference; regression and model specification; and machine learning and big data. Prerequisites: ECON 108, 110, 115, or equivalent and familiarity with single variable calculus. Students who have taken ECON 131 may not receive major credit for this course.  QR, SO0 Course cr

ECON 121a, Intermediate MicroeconomicsStaff

The theory of resource allocation and its applications. Topics include the theory of choice, consumer and firm behavior, production, price determination in different market structures, welfare, and market failure. After introductory microeconomics and completion of Math 112 or higher. Elementary techniques from multivariate calculus are introduced and applied, but prior knowledge is not assumed. May not be taken after ECON 125.  QR, SO0 Course cr

ECON 122a, Intermediate MacroeconomicsStaff

Contemporary theories of employment, finance, money, business fluctuations, and economic growth. Their implications for monetary and fiscal policy. Emphasis on empirical studies, financial and monetary crises, and recent policies and problems. After two terms of introductory economics and completion of the Math 112 or higher.  QR, SO0 Course cr

ECON 123a, Intermediate Data Analysis and EconometricsCostas Meghir

Comprehensive and theoretical examination of econometrics, with further exploration of topics covered in ECON 117. A term research project addresses a research question chosen by the student, and involves the application of learned methods to a relevant data set. Prerequisites: ECON 108, 110, 115, or equivalent; ECON 117; and familiarity with single variable calculus.  QR, SO0 Course cr
TTh 9am-10:15am

ECON 125a, Microeconomic TheoryStaff

Similar to ECON 121 but with a more intensive treatment of consumer and producer theory, and covering additional topics including choice under uncertainty, game theory, contracting under hidden actions or hidden information, externalities and public goods, and general equilibrium theory. Recommended for students considering graduate study in economics. After introductory economics, and MATH 118 or 120 or equivalent. May not be taken after ECON 121.  QR, SO0 Course cr
TTh 9am-10:15am

* ECON 126b, Macroeconomic TheoryJoel Flynn

Similar to ECON 122 but with a more intensive treatment of the mathematical foundations of macroeconomic modeling, and with rigorous study of additional topics. Recommended for students considering graduate study in economics. After two terms of introductory economics, and MATH 118 or 120 or equivalent.   QR, SO0 Course cr
MW 1pm-2:15pm

ECON 135a, Introduction to Probability and StatisticsYusuke Narita

Foundations of mathematical statistics: probability theory, distribution theory, parameter estimation, hypothesis testing, regression, and computer programming. Recommended for students considering graduate study in economics. Prerequisites: Introductory microeconomics and MATH 118 or MATH 120 and MATH 222; or MATH 120 and MATH 225.  QR, SO0 Course cr
MW 4pm-5:15pm

ECON 136b, EconometricsEd Vytlacil

Continuation of ECON 135 with a focus on econometric theory and practice: problems that arise from the specification, estimation, and interpretation of models of economic behavior. Topics include classical regression and simultaneous equations models; panel data; and limited dependent variables. Recommended for students considering graduate study in economics. Prerequisites: After ECON 135 or STAT 241 and 242. May not be taken concurrently with STAT 242.   QR, SO0 Course cr
TTh 2:30pm-3:45pm

ECON 159a / GLBL 159a, Game TheoryBenjamin Polak

An introduction to game theory and strategic thinking. Ideas such as dominance, backward induction, Nash equilibrium, evolutionary stability, commitment, credibility, asymmetric information, adverse selection, and signaling are applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere. After introductory microeconomics. No prior knowledge of game theory assumed.  QR, SO0 Course cr
TTh 11:35am-12:50pm

ECON 160b / GLBL 383b, Games and InformationBenjamin Polak and Jidong Zhou

This is designed to be a "second" game theory course. We build on the learnings from introductory game theory courses like ECON 159/GLBL 159, MGT 822 or the SOM core. The course aims to introduce important ideas and tools from game theory, and use them to answer questions in social sciences, law, and business.  For instance, how does information get sold and used to persuade? How do we think about the efficiency and equity of allocations? How do sellers decide the best format for an auction to sell a good? Does requiring unanimous verdicts guarantee that the innocent will not be convicted? What causes bank runs? When do we see price wars? The underlying ideas will include games of incomplete information, mechanism design, common knowledge and high-order reasoning, and repeated games.   Prerequisite: Any introductory game theory course, e.g., ECON/GLBL 159, MGT 822 or Game Theory in the SOM Core.  SORP0 Course cr
TTh 1pm-2:15pm

ECON 170a, Health Economics and Public PolicyHoward Forman

Application of economic principles to the study of the U.S. health care system. Emphasis on basic principles about the structure of the U.S. system, current problems, proposed solutions, and the context of health policy making and politics. After introductory microeconomics.  SO
TTh 2:30pm-3:45pm

ECON 171b / AFAM 146b / EDST 271b, Urban Inequalities and Educational InequalityGerald Jaynes

Analysis of contemporary policy problems related to academic under performance in lower income urban schools and the concomitant achievement gaps among various racial and ethnic groups in United States K-12 education. Historical review of opportunity inequalities and policy solutions proposed to ameliorate differences in achievement and job readiness. Students benefit from practical experience and interdisciplinary methods, including a lab component with time spent in a New Haven high school.  Prerequisites: Any course offered by Education Studies, or one course in history or any social science, either: Anthropology, Economics, Political Science, Psychology, Sociology.  EDST 110 is preferred, although not required.  SO
TTh 10:30am-11:20am

ECON 182a / HIST 135a, American Economic HistoryStaff

The growth of the American economy since 1790, both as a unique historical record and as an illustration of factors in the process of economic development. The American experience viewed in the context of its European background and patterns of industrialization overseas. After introductory microeconomics.  WR, SO0 Course cr

* ECON 209a / EP&E 313a, Economic Analysis of LawRobin Landis

This course is intended to provide an introduction to the economic analysis of law. We examine the economic rationale(s) underlying various legal doctrines of both common law and statutory law, as well as the economic consequences of different legal doctrines. Previous coursework in economics, while helpful, is not a prerequisite for the course.  SO
T 3:30pm-5:20pm

ECON 210b / EDST 201b, Economics of EducationDaniela Morar

Application of basic economic concepts and empirical methods to the analysis of education. Topics include the economic return to secondary and postsecondary education, the quality of elementary and secondary education, the market for teachers, inequality in education attainment, and school choice. Prerequisites: ECON 108, 110, or 115. A prior course in statistics or econometrics is helpful but not required.  SO
TTh 11:35am-12:50pm

ECON 251a, Financial EconomicsStaff

Introduction to the economic analysis of investment decisions and financial markets. Topics include time discounting, portfolio choice, equilibrium pricing, arbitrage, market efficiency, equity valuation, fixed-income securities, derivative pricing, and financial intermediation. Prerequisite: Introductory microeconomics.  QR, SO0 Course cr
TTh 1pm-2:15pm

ECON 265a, History of Economic ThoughtStaff

The objective of this course is to give an overview of how economic analysis has developed, and an introduction to the varied ways in which some of the great economists of the past have gone about studying how the economy functions. We discuss the relevance of their theories to public policy and the role of the state, and consider the roles of pre-analytic vision, improvements in analytical technique, and external events (such as the Great Depression or Global Financial Crisis) in the development of economic analysis. Prerequisites: ECON 115 and ECON 116.  SO
MW 2:30pm-3:45pm

ECON 326b, Fundamentals of Economic DevelopmentKaivan Munshi

The objective of this course is to examine some of the fundamental forces that shape the process of economic development. This course is divided into three sections: (i) Market Failure: with an analysis of credit, labor, and insurance markets in developing countries. (ii) Social Response: how community networks emerge in response to market failure. We study the positive and negative consequences of this community involvement for growth and development; in the short-run and the long-run. We also provide economic foundations for the emergence of social norms and identity, as well as the dynamic inefficiencies that they can generate with economic development. (iii) Biological Response: how biological adaptation to economic conditions in the pre-modern economy can have negative consequences for nutritional status and health in developing economies. Apart from providing a particular perspective on development, an additional objective of this course demonstrates the use of economic theory in informing empirical research. Prerequisites: Intermediate Microeconomics, Introductory Econometrics and Data Analysis. Students are expected to be familiar with calculus, basic microeconomics, and basic econometrics.  SO
MW 9am-10:15am

ECON 339b, Advanced Competition Economics and PolicyFiona Scott Morton

Limits that antitrust laws, as applied and interpreted by agencies, courts, and competitors, place on firm behavior. Economic theories underlying antitrust enforcement. Whether legal rules restricting competitive behavior increase social welfare and how they affect managerial choices. The evidence and reasoning advanced in key antitrust cases; how outcomes may affect social welfare and firm strategies. Goals and procedures of US and EU antitrust agencies.    SO
MW 8:30am-9:50am

ECON 350a, Mathematical Economics: General Equilibrium TheoryJohn Geanakoplos

An introduction to general equilibrium theory and its application to finance and the theory of money. Recommended for students considering graduate study in economics, or a career in quantitative finance. Prerequisites: After MATH 118 or 120, and intermediate microeconomics.  QR, SO0 Course cr
MW 11:35am-12:50pm

ECON 361b, Corporate FinanceChristopher Clayton

Financial management from inside the corporation or operating entity. Topics include capital budgeting and valuation, optimal capital structure, initial public offerings, mergers, and corporate restructuring. Cases and problem sets provide applications. Prerequisites: intermediate microeconomics and econometrics.  0 Course cr
MW 2:30pm-3:45pm

ECON 363a, The Global Financial CrisisAndrew Metrick and Timothy Geithner

Comprehensive survey of the causes, events, policy responses, and aftermath of the global financial crisis of 2007-09. Study of the dynamics of financial crises in a modern economy. Prerequisite: Successful completion of a course in introductory economics.  SO
TTh 1pm-2:20pm

ECON 365a or b / CPSC 365a or b, AlgorithmsStaff

Paradigms for algorithmic problem solving: greedy algorithms, divide and conquer, dynamic programming, and network flow. NP completeness and approximation algorithms for NP-complete problems. Algorithms for problems from economics, scheduling, network design and navigation, geometry, biology, and optimization. Provides algorithmic background essential to further study of computer science. Only one of CPSC 365 or CPSC 366 may be taken for credit. Prerequisites: CPSC 202 or MATH 244, CPSC 223.  QR

ECON 375b / GLBL 219b, Monetary PolicyWilliam English

Introduction to modern macroeconomic models and how to use the models to examine some of the key issues that have faced monetary policymakers during and after the global financial crisis of 2008–2009. Prerequisites: Intermediate level macroeconomics (ECON 122 or 126) and introductory econometrics.  WR, SO0 Course cr
TTh 1pm-2:15pm

* ECON 407a / GLBL 310a, International FinanceAna Fieler

A study of the implications of increasing integration of the world economy, through international trade, multinational production, and financial markets.  Topics include foreign exchange markets, capital flows, trade and current account imbalances, coordination of monetary and fiscal policy in a global economy, financial crises and their links to sovereign debt crises and currency devaluations.  Prerequisite: intermediate macroeconomics or equivalent.  SO0 Course cr
MW 9am-10:15am

ECON 409b, Firms, Markets, and CompetitionPhilip Haile

Analysis of imperfectly competitive markets, focusing on the interactions among firm behavior, market structure, and market outcomes. Topics include oligopoly, collusion, predation, firm entry, advertising, and price discrimination as well as public policy implications of market behavior. After intermediate microeconomics or equivalent.  QR, SO
MW 9am-10:15am

* ECON 411b, Economics of Uncertainty and InformationSoenje Reiche

Individual and collective choice in the presence of uncertainty and asymmetric information. Implications of such decision making for economic phenomena. Basic analytical tools for studying decisions under uncertainty. Asset markets, adverse selection, screening, signaling, moral hazard, incomplete contracts, bilateral trade with asymmetric information, and mechanism design. Prerequisites: intermediate microeconomics and econometrics.  SO0 Course cr
MW 4pm-5:15pm

* ECON 412a, International Environmental EconomicsSamuel Kortum

Introduction to international and environmental economics and to research that combines the two fields. Methods for designing and analyzing environmental policy when economic activity and pollution cross political borders. Effects of market openness on the environment and on environmental regulation; international economics and climate change. Prerequisites: intermediate microeconomics and econometrics.  SO
MW 1pm-2:15pm

ECON 419a, Financial Time Series EconometricsXi Chen

This is an advanced course covers basic univariate and multivariate models and methods used to analyze financial and economic time series data and panel time series data. Topics include: classic linear models; serial dependence, autocorrelation in error variances (ARCH, GARCH); methods that allow for nonlinearity, tail dependence, comovements, conditional value at risk, fat-tails, nonstationarity; vector autoregressive models; factor models; Markov switching, latent factors, measurement errors, stochastic volatility; empirical asset pricing models. The aim of the course is to help students write their senior essays and start their own research in economics and finance. Prerequisites: ECON 117 and 123, or ECON 135 and 136.  SO
TTh 1pm-2:15pm

ECON 424a / GLBL 308a, Central BankingWilliam English

Introduction to the different roles and responsibilities of modern central banks, including the operation of payments systems, monetary policy, supervision and regulation, and financial stability. Discussion of different ways to structure central banks to best manage their responsibilities. Prerequisites: Intermediate Microeconomics, Intermediate Macroeconomics, and Introductory Econometrics.  SO0 Course cr
MW 1pm-2:15pm

ECON 425a / CPSC 455a, Algorithmic Game TheoryYang Cai

A mathematically rigorous investigation of the interplay of economic theory and computer science, with an emphasis on the relationship of incentive-compatibility and algorithmic efficiency. Our main focus is on algorithmic tools in mechanism design, algorithms and complexity theory for learning and computing Nash and market equilibria, and the price of anarchy. Case studies in Web search auctions, wireless spectrum auctions, matching markets, and network routing, and social networks. Prerequisite: CPSC 365 or permission of the instructor. Familiarity with basic microeconomic theory is helpful but not required.  QR
MW 2:30pm-3:45pm

* ECON 426a / EP&E 286a, Discrimination in Law, Theory, and PracticeGerald Jaynes

How law and economic theory define and conceptualize economic discrimination; whether economic models adequately describe behaviors of discriminators as documented in court cases and government hearings; the extent to which economic theory and econometric techniques aid our understanding of actual marketplace discrimination. This course was formerly listed as ECON 475. Prerequisites: introductory microeconomics and at least one additional course in Economics, African American Studies, Ethnicity, Race, and Migration, or Women's, Gender, and Sexuality Studies.
TTh 2:30pm-3:45pm

ECON 431a / AMTH 431a / S&DS 431a, Optimization and ComputationZhuoran Yang

This course is designed for students in Statistics & Data Science who need to know about optimization and the essentials of numerical algorithm design and analysis. It is an introduction to more advanced courses in optimization. The overarching goal of the course is teach students how to design algorithms for Machine Learning and Data Analysis (in their own research). This course is not open to students who have taken S&DS 430.  Prerequisites: Knowledge of linear algebra, multivariate calculus, and probability. Linear Algebra, by MATH 222, 223 or 230 or 231; Graph Theory, by MATH 244 or CPSC 365 or 366; and comfort with proof-based exposition and problem sets, such as is gained from MATH 230 and 231, or CPSC 366.
TTh 1pm-2:15pm

ECON 433a, The Economics of SpaceCostas Arkolakis

The aim of this course is to analyze the ways that geography determines economic outcomes. We discuss and analyze data on regional economic activity and how economic shocks propagate in space. We pair those data with simple models where geography plays a crucial role in the determination of economic activity and discuss how changes in this geography lead some regions to grow and economic outcomes to diverge. Various policies that affect the spatial allocation of economic activity, such as infrastructure investment, local taxes, and transfers, are analyzed Prerequisites: MATH 118, 120, or permission of instructor.  SO0 Course cr
MW 11:35am-12:50pm

* ECON 434a, Labor Economics: Inequality and Social MobilityOrazio Attanasio

The objective of this advanced course is to study various aspects of inequality and social mobility and to understand their trends over time and their drivers. Although we briefly study some international comparisons, the focus of the course is inequality in the US and, to a less extent, the UK. We consider inequalities among different countries only tangentially. Prerequisites: ECON 121 and Econometrics.  SO
TTh 9am-10:15am

ECON 436b, Personal FinanceJames Choi

How much should I be saving at age 35? How much of my portfolio should be invested in stocks at age 50? Which mortgage should I choose, and when should I refinance it? How much can I afford to spend per year in retirement? This course covers prescriptive models of personal saving, asset allocation, borrowing, and spending. The course is designed to answer questions facing anybody who manages their own money or is a manager in an organization that is trying to help clients manage their money.   Prerequisites: Intermediate microeconomics and one semester of econometrics. Students should be comfortable with informal mathematical and statistical reasoning and problem-solving.  SO

ECON 438a, Applied Econometrics: Politics, Sports, MicroeconomicsRay Fair

This course has an applied econometrics focus. Topics include voting behavior, betting markets, and various issues in sports. The aim of the course is to help students prepare original empirical research using econometric tools and to read empirical papers in economics and other social sciences. Students write three empirical papers. The first can be an extension of an existing article, where some of the results are duplicated and then extended. The second is similar to the first with no example provided. The third is an original paper within the range of topics covered in the course, where data are collected and analyzed using relevant econometric techniques. Prerequisites: Two econometrics or statistics courses, one of which has to be ECON 117. Ideally, ECON 123 should also have been taken, but it is not an absolute requirement. ECON 135 and ECON 136 are substitutes for ECON 117 and ECON 123. Special permission from the instructor is needed if ECON 117 or ECON 136 has not been taken. Also required is introductory microeconomics.  SO
MW 1pm-2:15pm

* ECON 444a, Market Inefficiencies and the Limits of ArbitrageMichael J Pascutti

The role of hedge funds in the United States financial markets and hedge fund behavior; understanding what hedge funds do, why they exist, and how they are different from other investment vehicles. Study of investment strategies that provide opportunity and risk for investors and study of academic papers analyzing (risky) arbitrage strategies. Prerequisite: intermediate microeconomics and econometrics.  SO0 Course cr
MW 11:35am-12:50pm

* ECON 445b, The U.S. Banking SystemMichael J Pascutti

The special functions of banks in the U.S. economy. The benefits but fragile nature of the banking system. Prerequisites: intermediate macroeconomics, microeconomics, and econometrics.  SO
MW 11:35am-12:50pm

* ECON 449a / EP&E 244a / PLSC 374a, The Economic Analysis of ConflictGerard Padro

In this course we apply microeconomic techniques, theoretical and empirical, to the analysis of internal violent conflict, including civil wars, terrorism and insurgencies, its causes and consequences. Topics include forced migration, ethnic conflict, long-term consequences of war and individual choices to participate in violence. Readings comprise frontier research papers and students will learn to critically engage with cutting-edge research designs. Prerequisites: Intermediate econometrics  SO
W 9:25am-11:15am

* ECON 450b, Investment AnalysisAlex Hetherington and Chivetta Amelia

This seminar seeks to introduce the world of investment management to students, across a range of investment strategies from public stocks to private equity and real estate. The instructors, both senior members of the Yale Investment Office, the department that manages the University's $41 billion endowment, guide class discussion in response to assigned reading and guest speaker visits. The distinguished guest speakers, including world-renowned hedge fund managers, venture capital luminaries and Yale's chief investment manager Matthew Mendelsohn '07 are at the heart of the course. These speakers join the seminar for a discussion of how their firms approach the investment landscape and how they seek to achieve market-beating returns. Students are asked to engage with and analyze the speaker's investment strategy and to think about the strategy from the perspective of an institutional investor like Yale.  Registration requires instructor permission.  SO
M 3:30pm-5:20pm

* ECON 454a, Topics in Economic InequalityIngvild Almas

The course covers topics in economic inequality including attitudes towards inequality and support for redistribution, gender, household formation, and decision making, and the measurement of inequality across individuals and groups of individuals. We start by discussing some possible justifications for economic inequality, drawing on research in economics as well as philosophy. We then turn to discuss the evidence of what people prefer and believe about inequality, including their possible justifications for economic inequality. We discuss the views and beliefs of general populations across the globe. We further aim to relate these views and beliefs to political support for redistribution and welfare policies more generally. Gender inequalities in earnings may have historical roots and may persist because of contemporary norms supporting that men should be the breadwinners in the family. We discuss the prevalence of such norms. We also discuss possible gender differences in willingness to compete, willingness to take risks, and preferences for job-life versus family life. We then turn to a discussion of discrimination in the labor market using global data as empirical evidence. Household formation may affect gender inequalities and gender inequalities may affect household formation. We discuss models of the marriage market and some empirical evidence. We further discuss the efficiency of welfare policies targeting families, and how the focus on whether gender targeting is beneficial or not. Intermediate Micro (Econ 121) and Econometrics (117) or equivalent. Based on these pre-requisites, working knowledge of calculus, as well as some statistics, including basic knowledge about statistical hypotheses testing and more are beneficial.  SO
Th 9:25am-11:15am

* ECON 455a, Economic Models of New TechnologyEvangelia Chalioti

Analysis of firms’ incentives to innovate, focusing on the effects of market power on the intensity of innovative activity. Topics include strategic investment in innovation, patent races, the diffusion of knowledge, intellectual property (IP) protection systems, IP licensing, research joint ventures, litigation, venture capital, and conflicts between IP rights and antitrust regulation. Prerequisite: Intermediate Microeconomics or equivalent: Econ 121 or Econ 125  SO
W 3:30pm-5:20pm

* ECON 456a, Private Equity InvestingMichael Schmertzler

A case-oriented study of principal issues and investment types found in substantial private equity portfolios. Discussion of enterprise valuation, value creation, business economics, negotiation, and legal structure, based on primary source materials and original cases. Prerequisite: ECON 251 or ECON 252 or ECON 255.  SO
TTh 2:30pm-3:45pm

* ECON 463b / BENG 403b, The Economics and Science of MedicineGregory Raskin and Yashodhara Dash

This multidisciplinary class is an exploration of the background of today’s bestselling medicines, their huge commercial impact, and the companies that created them. It focuses on the most compelling aspects of drug development and company formation in the context of topical issues like cancer treatment, gene editing, stem cell therapy, the opioid epidemic, and drug pricing controversies. Prerequisite: Introductory or intermediate microeconomics, introductory or intermediate Biology, Molecular Biology, Chemistry or Biomedical Engineering.  SO
Th 3:30pm-5:20pm

* ECON 467a / GLBL 307a, Economic Evolution of the Latin American and Caribbean CountriesErnesto Zedillo

Economic evolution and prospects of the Latin American and Caribbean (LAC) countries. Topics include the period from independence to the 1930s; import substitution and industrialization to the early 1980s; the debt crisis and the "lost decade"; reform and disappointment in the late 1980s and the 1990s; exploration of selected episodes in particular countries; and speculations about the future. Prerequisities: intermediate microeconomics and macroeconomics.  SO
M 9:25am-11:15am

* ECON 468b, Institutions and Incentives in Economic DevelopmentMark Rosenzweig

Assessment of alternative policies and programs designed to promote economic development; examination of fundamental problems of underdeveloped areas and consideration of how and whether such programs resolve them. The roles of indigenous institutions in low-income countries in alleviating problems of underdevelopment. Prerequisites: intermediate microeconomics and econometrics.  SO
W 1:30pm-3:20pm

* ECON 471b / EP&E 297b, Topics in Cooperative Game TheoryPradeep Dubey

The theory and applications of cooperative games. Topics include matching, bargaining, cost allocation, market games, voting games, and games on networks. Prerequisite: intermediate microeconomics.
F 9:25am-11:15am

* ECON 472a, Economics of Artificial Intelligence and InnovationEvangelia Chalioti

This course studies the economics of innovation and the effects of artificial intelligence on different industries. Topics include economics of the intellectual property (IP) protection system; strategic choices in innovation and competition; patent races; measurement and big data; the sharing and digitalized economy; collective intelligence and decisions; online auctions; venture capital; legal and social infrastructure. Prerequisites: Intermediate Microeconomics or equivalent: Econ 121 or Econ 125  SO
M 3:30pm-5:20pm

* ECON 491a and ECON 492b, The Senior EssayStaff

Senior essays are an opportunity for students to engage in independent, original economic research. Essays are not reviews of the literature, rather each should be an examination of a hypothesis using the tools of economics. In particular, the essay must contain original research and/or analysis. They can be theoretical, empirical or computational. The senior essays that receive A's and are awarded prizes are typically those that use economics tools (and, where appropriate, data) to offer fresh insights on questions.  Students enrolling in this one-term course need to find an advisor. There are no page requirements or formatting requirements. Generally, essays run about 30 pages. Advice regarding bibliographies, graphs, etc. should be given by your advisor.  For further information, including relevant dates and deadlines, please see

* ECON 498a and ECON 499b, Directed ReadingGiovanni Maggi

Junior and senior economics majors desiring a directed reading course in special topics in economics not covered in other graduate or undergraduate courses may elect this course, not more than once, with written permission of the director of undergraduate studies and of the instructor. The instructor meets with the student regularly, typically for an hour a week, and the student writes a paper or a series of short essays. Junior and senior majors may take this course for a letter grade, but it does not meet the requirement for a department seminar. The application form may be found here: