Economics

• GRS EC 699: Teaching College Economics I
  The goals, contents, and methods of instruction in economics. General teaching-learning issues. Required of all teaching fellows.
• GRS EC 701: Microeconomic Theory
  Graduate Prerequisites: GRS EC 705; and consent of instructor.
  Neoclassical general equilibrium theory. Topics covered include consumption, production, existence of competitive equilibrium, fundamental welfare theorems, externalities, and uncertainty.
• GRS EC 702: Macroeconomic Theory
  Undergraduate Prerequisites: GRS 701 and consent of insturctor.
  Graduate Prerequisites: GRS EC 701; and consent of instructor.
  Basic Keynesian model: consumption, investment, and money demand functions. Extension to the open economy. Determinants of money supply. Effectiveness of monetary and fiscal policy. Inflation and income policy. Elementary growth models.
• GRS EC 703: Advanced Microeconomic Theory I
  Graduate Prerequisites: GRS EC 701; and consent of instructor.
  Walrasian equilibrium: existence, uniqueness and core equivalence. Uncertainty: Arrow Debreu contigent commodities, Radner equilibrium, incomplete markets. Economics of information: rational expectations, adverse selection, signaling and screening. The principal-agent problem.
• GRS EC 704: Advanced Macroeconomic Theory I
  Graduate Prerequisites: GRS EC 702; and consent of instructor.
  Consumption theory and evidence; investment theory and evidence; monetary theory; micro foundations of macro systems; theory of rational expectations; models of fiscal and monetary macroeconomic policy; and employment theory and policy.
• GRS EC 705: Introduction to Mathematical Economics
  Undergraduate Prerequisites: consent of instructor
  Graduate Prerequisites: consent of instructor.
  Matrix algebra, differential calculus up to and including partial differentials of functions of several variables, and maximization under constraint. Introduction to linear programming, difference, and differential equations.
• GRS EC 707: Advanced Statistics for Economists
  Graduate Prerequisites: GRS EC 705; or consent of instructor.
  Application of statistical tools, covering properties of estimators, covariance matrix and correlation, analysis of variance, hypothesis testing, likelihood functions, and likelihood ratio tests. Intended as preparation for GRS EC 710.
• GRS EC 708: Advanced Econometrics I
  Graduate Prerequisites: GRS EC 705 and GRS EC 707.
  Basic course of econometric theory for MAPE/PhD students. Covers the theory and applications of the LS and ML estimators of the linear single equations models. OLS, GLS, and Gauss-Markov theorem, autocorrelation, heteroskedasticity, non-linear estimators, distributed lags, errors in variables, instrumental variable estimators, choice models. Introduction to simultaneous equation models.
• GRS EC 709: Advanced Econometrics
  Graduate Prerequisites: GRS EC 708; or consent of instructor.
  Advanced course for second-year PhD candidates who have a solid knowledge of basic econometric methods. Covers estimation and simulation of simultaneous equation models and some selected topics in multivariate analysis.
• GRS EC 711: Advanced Topics in Econometrics
  Graduate Prerequisites: GRS EC 709; and consent of instructor.
  Discusses, in an abstract fashion, approaches to estimation and inference that are most often used in econometrics, including maximum likelihood and method of moments; recent developments in econometrics that allow one to overcome some of the shortcomings in using the standard approaches to estimation. Main emphasis on cross-sectional applications with some mention of time series applications and further discussion of specification analysis and testing.
• GRS EC 712: Time Series Econometric
  Graduate Prerequisites: GRS EC 708; consent of instructor
  Presents standard theory of stationary processes: models, estimation in the time and frequency domain, spectral analysis, asymptotic distribution, Kalman filter; VAR models. Also deals with non-stationary processes and discusses topics such as: functional ccentral limit theorem, asymptotic results with unit roots, tests for unit roots, estimation and test in cointegrated systems and models with structural changes.
• GRS EC 716: Game Theory
  Graduate Prerequisites: GRS EC 705; or a course in real analysis.
  Introduction to noncooperative and cooperative games with applications in the social sciences.
• GRS EC 717: Advanced Topics in Microeconomic Theory I
  Topics in advanced microeconomic theory to be selected by course instructors. Critical analysis of key papers in the literature.
• GRS EC 718: Advanced Topics in Microeconomic Theory II
  Graduate Prerequisites: GRS EC 703; or consent of instructor.
  Topics in advanced microeconomic theory to be selected by course instructors. Critical analysis of key papers in the literature.
• GRS EC 721: Topics in Development Economics
  Graduate Prerequisites: GRS EC 701 and GRS EC 702; or consent of instructor.
  Examines the economic development of nations from the perspectives of their relationship with the global economy, to identify issues that are central to economic development in the world economy, and to provide analytical methods for analyzing these issues and formulating policy. Evidence on these issues from Africa, Asia, and Latin America are examined. Some topics to be covered: the role of international trade in economic growth; trade between developed and developing countries; public and private foreign capital; research and development and technology transfer; exchange rate regimes and capital flight.
• GRS EC 722: Topics in Economic Development II
  Graduate Prerequisites: consent of instructor.
  This course covers a range of topics on failures of markets and governance in developing countries. Recent research papers including both theoretical and empirical analysis are discussed, including class presentations by students. Topics include credit and insurance market imperfections; implications for investment, inequality and growth; social networks and social learning. Models of political economy and government accountability, with applications to land reform, decentralization, education, tax policy, and role of the media.
• GRS EC 731: Market Organization and Public Policy
  Graduate Prerequisites: GRS EC 701 or GRS EC 703.
  Analytical foundations of public policy toward market organization. Theoretical emphasis on imperfect competition, theory of the firm, and markets with incomplete information. Implications for policy in developed and less-developed countries.
• GRS EC 732: Topics in Industrial Organization
  Graduate Prerequisites: Consent of instructor.
  Topics vary from year to year and may include the economics of contracting and the firm, the economics of regulation, and dynamic models of oligopoly.
• GRS EC 741: Topics in Macroeconomics and Monetary Theory
  Graduate Prerequisites: GRS EC 701 and GRS EC 702; or consent of instructor.
  Alternative views of demand and supply of money and financial assets. Analytical theories of monetary policy. Problems in the exercise of monetary policy.
• GRS EC 742: Applied Macroeconomics
  Graduate Prerequisites: GRS EC 704 and GRS EC 708; and consent of instructor.
  Empirical specification of macroeconomic functions including measuring variables, lag structures, and functional forms; estimation and simulation of multiple equation macro models; and use of models for optimal policy design and positive policy prognosis.