Listing of MA Course Syllabi FALL 2008

Listing of MA Course Syllabi SPRING 2008

CAS EC 501 Microeconomic Theory
Prereq: CAS EC 201, EC 505 or consent of instructor. Covers the basic concepts and techniques of microeconomic theory. Topics include: Consumer demand and its foundation on preferences and budget constraints, production theory, applied competitive equilibrium analysis, imperfect competition, elementary game theory, economics of uncertainty and imperfect information, and other market failures such as externalities and public goods. Course assumes some mathematical inclination and interest in policy applications of microeconomics. Staff, 4 cr, 1st & 2nd semester.

CAS EC 502 Macroeconomic Theory
Prereq: consent of instructor. After a brief introduction to the basics of macroeconomics, the course concentrates on economic growth and inflation in the long-run. It then turns to models of short-run fluctuations with an emphasis on the role of fiscal and monetary policy. Much of the reading is from original articles in research journals. In addition to studying theoretical models, the course also introduces basic analysis of macroeconomic data in order to evaluate and test competing models. Staff, 4 cr, 1st & 2nd semester.

CAS EC 505 Elementary Mathematical Economics
Prereq: CAS MA 121, or consent of instructor. Stresses the formulation of economics problems in mathematical terms. Topics covered include partial derivation, total differentials, constrained maximization, matrix algebra, dynamic analysis, and discounting. Staff, 4 cr, 1st & 2nd semester.

CAS EC 507 Statistics for Economists
Prereq: CAS EC 305 or consent of instructor. The first half of the course covers descriptive statistics, measures of association, dispersion, frequency distribution, probability, sampling distributions, estimation, and hypothesis testing. The second half of the course introduces multivariate regression analysis, with an emphasis on specification, testing, and interpretation of econometric models. Students will be introduced to statistical software packages and required to use these to generate results. Elementary calculus required. Staff, 4 cr, 1st & 2nd semester.

CAS EC 508 Econometrics
Prereq: CAS EC 507 or consent of instructor. Provides standard econometric tools necessary to perform and evaluate empirical research in economics, either in a research or business setting. Three basic concepts in econometrics are introduced: quantifying uncertainty using confidence intervals; inferring causal relationships in regressions; and prediction based on regression estimates. Topics include heteroskedasticity, limited dependent variables, errors in variables, stationary and autocorrelated time seres. Exercises will be assigned using statistical software packages. Matric algebra not required. Staff, 4 cr, 1st & 2nd semester.

CAS EC 513 Game Theory
Prereq: one approved calculus course (CAS MA 121,122,123,124,127 or 129) or consent of instructor. Models of decision-making in which the choices of different individuals interact: basic equilibrium notions in normal form games, including signaling games and repeated games. Applications include auctions, foreign policy, takeover bids, entry deterrence, cooperation and conflict, financial markets and public goods. Lipman, 4 cr, 2nd semester.

CAS EC 515 The Economics of Information
Prereq: CAS EC 201 or 211 and one of CAS MA 121, 122, 123, 124, 127 or 129, or consent of instructor. Recommended: CAS EC 513. Introduction to the field of information economics and its applications. Covers a wide range of situations in which players have access to different private information and this private information differently affects their incentives and strategic behavior. Neeman, 4 cr, 1st semester.

CAS EC 517 Ec Models of Soc Learning and Coordination
Prereq: one Calculus Course numbered CAS MA 121 or higher, CAS EC 201 or 501, and EC 202 or 502 (EC 515 recommended); or consent of instructor. Economic models analyzing the relationship between rational economic decisions and flows of information, with diverse micro- and macro-economic applications. Chamley, 4 cr, 2nd semester.

CAS EC 521 Development Theory
Prereq: CAS EC 201 and EC 202 or consent of instructor. Analytical treatment of the problems of economic growth and development with emphasis on economic growth, macroeconomic stability, income distribution, and structural change. Students will prepare an in-depth study of a particular problem that has arisen in a chosen developing country. These studies will analyze the potential use of policy measures that can deal with the problem using appropriate historical data from the chosen country. Class presentation of these case studies will be an integral part of the course. Harris, 4 cr, 1st semester.

CAS EC 522 Development Strategy
Not offered 2007/2008

EC531 Market Structure and Industrial Organization
Prereq: Consent of instructor. The course focuses on the main interactions between firms and consumers under different market conditions and market structures. Among the issues discussed: profit maximization, monopoly power, price discrimination, bundling, oligopoly and imperfect competition, entry deterrence, quality choice and advertising. Glazer, 4cr, 1st sem.

CAS EC 538 Advanced Topics in Law and Economics
Not offered 2007/2008

EC 541 Topics in Monetary Theory and Macroeconomics
Prereq: Consent of instructor. This course combines monetary economics, macroeconomics and finance. It focuses on the interactions among money, interest rate and consumption , and their consequences for monetary policy and asset prices (bonds, stocks and currencies). Verdelhan, 4 cr,1st sem.

CAS EC 542 Money and Financial Intermediation
Prereq: CAS EC 202 and CAS EC 341 or 342, or consent of instructor. The role of money and financial institutions in the economy. The money supply process, and the relationship between money growth ad real activity in various models of money demand. The differences between various types of financial markets, their evolution, and the effect they have on long-term growth. Determinants of interest rates and asset prices. The role financial intermediaries play in alleviating information problems, and the impact of this role on the transmission of monetary policy. Financial intermediary management and regulation. Derivatives and risk management. Basic calculus required. Staff, 4 cr, 2nd semester.

CAS EC 545 Financial Economics
Prereq: CAS EC 201, EC 202, and EC 305, and one approved calculus course (CAS MA 121, 122, 123, 127, or 129) or consent of instructor. Provides a sound understanding of the economic principles of finance, including the financial decisions and capital structure of a corporation and its relation to capital markets. Models of capital asset pricing and investors" behavior are also discussed. Staff, 4 cr, 2nd semester.

CAS EC 551 Economics of Labor Markets
Prereq: CAS EC 201 and EC 202 or consent of instructor. Economic behavior of labor market institutions in the United States wages determination, labor allocation, discrimination, economics of trade unions, and industrial relations. Implications of labor market behaviors for public policy. Lang, 4 cr, 1st semester.

CAS EC 552 Economic Organizations and Labor Markets
Prereq: CAS EC 201 and EC 356 or consent of instructor. Examines the role of market failures, economic power and public policy in determining wages, human capital investments, and labor productivity. Neoclassical, new institutional, and organizational theories for analyzing the economics of labor markets are contrasted and evaluated using both quantitative and case study evidence. Doeringer, 4 cr, 2nd semester.

CAS EC 561 Public Economics I
Prereq: CAS EC 201 or consent of instructor. Applies microeconomic theory to public-policy decisions around the world. The unifying underlying methodology is applied welfare economics or cost-benefit analysis. The applications are to project evaluation, taxation, regulation, shadow pricing, privatization, policy impact analysis, and valuing external effects such as pollution and congestion. Jones, 4 cr, 1st semester.

CAS EC 562 Public Economics II
Prereq: CAS EC 201 and a knowledge of calculus or consent of instructor. Selected topics from recent experience of the United States and other countries, including efforts at tax reform, welfare programs, analysis of other government expenditure programs. Kotlikoff, 4 cr, 2nd semester.

CAS EC 565 Economic Institutions in Historical Perspective
Prereq: CAS EC 101 or consent of instructor. Historical development and role of institutions underlying market economies. Topics include contract enforcement and trading institutions, financial institutions, property rights in land, environmental resources such as water management and fisheries, economic infrastructure, regulation of labor and capital markets. Staff, 4 cr, 1st semester.

CAS EC 566 History of Public Finance and the Rise of the State in Europe
Prereq: CAS EC 101 and 102 or consent of instructor. Introduction of the history of public finance and expansion of the economic role of the state in Europe between the twelfth and nineteenth centuries. Applies economic tools to the analysis of political issues including distribution of wealth, revolution, and democratization. Staff, 4 cr, 2nd semester.

CAS EC 571 Energy and Environmental Economics
Prereq: CAS EC 201, or EC 501 or consent of instructor. Environmental resources and markets characterized from physical, economic, and legal standpoints. Welfare arguments for public-sector intervention. Methodologies for policy assessment and simulation analyzed, including project analysis, new technology, evaluation models, deterministic and econometric models. Vogelsang, 4 cr, 1st semester.

CAS EC 572 Public Control of Business
Prereq: CAS EC 201 or consent of instructor. Examines economic theory and case studies of antitrust policy, government regulation of private industry and the operation of state-owned enterprises. Case studies are drawn from both the industrialized and developing countries. Vogelsang, 4 cr, 1st semester.

CAS EC 581 Health Economics I
Prereq: CAS EC 501 or consent of instructor. Demand for insurance and health care, moral hazard, and adverse selection. Supply of health care; quality and price competition. Physician agency, payment systems, capitation, risk management, and managed care. Emphasis on U.S. institutions, although concepts are relevant to other countries. Ma, 4 cr, 1st semester.

CAS EC 582 Health Economics II
Prereq: CAS EC 501 or consent of instructor. Normally taken after EC 581. Emphasis on empirical applications and policy issues, both in the U.S. and internationally. Topics include the production of health, cost-benefit analysis, empirical studies of consumer and provider behavior, risk management methods, and health in developing countries. Staff, 4 cr, 2nd semester.

CAS EC 591 International Trade
Prereq: CAS EC 201 or consent of instructor. Covers both theory and empirical evidence on international trade with reference to both industrialized and developing economies. Covers the factor content of trade, the role of technology and technology diffusion in determining trade patterns, scale economics and imperfect competion in trade, and elements of economic geography in trade. Policy interventions: tariffs, the exchange rate, trading blocs and political economy of reform. Basic calculus required. Lucas, 4 cr, 1st semester.

CAS EC 595 International Finance
Prereq: CAS EC 502 or consent of instructor. Applies economic tools to open-economy macroeconomics. Topics include the determinants of the current account, exchange rate management, international capital markets, and growth in the world economy. Topical issues: the formation of the Euro; debt and financial crisis in developing countries. Baxter, 4 cr, 2nd semester.