Microeconomic Theory at Yale is characterized by a large faculty and comprehensive course offerings across all specializations, foremost among them decision theory, game theory, and general equilibrium theory.
The Cowles Foundation is supporting a Research Prorgram in Economic Theory which hosts every year a number of long-term visitors.
Overview of Courses
Microeconomic Theory I (Econ 500a) and II (Econ 501b) is a two-course core sequence for all students in the Ph.D. program. Material covered includes consumer and producer theory, choice under uncertainty, general equilibrium theory, game theory, information economics, and mechanism design. The sequence is designed to provide a thorough overview of microeconomic tools that will be used by Ph.D. students in all fields; it also prepares students for the comprehensive exams taken at the end of the first year in the program.
Advanced Microeconomics I (Econ 520a) and II (Econ 521b) is a two-course sequence examining in more depth foundational issues in game theory, information economics, mechanism design, and social choice.
Mathematical Economics I (Econ 530a) and II (Econ 531b) is a two-course sequence focused on issues in general equilibrium theory. Typically, these sequences are taken by Ph.D. students in the second year, including both those who will end up specializing in microeconomic theory and those who will do applied research using advanced tools of microeconomic analysis.
Course Requirements and Descriptions
The first-year sequence (Econ 500a and 501b) is designed for first-year students in the Economics Ph.D. program. Other students should seek the permission of the instructor. The first-year sequence is a prerequisite for the second-year courses (Econ 520a, 521b, 530a, 531b).
— ECON 500a: Microeconomic Theory I
— ECON 501b: Microeconomic Theory II
— ECON 520a: Advanced Microeconomics I
— ECON 521b: Advanced Microeconomics II
— ECON 530a: Mathematical Economics I
— ECON 531b: Mathematical Economics II
A central element of the research environment in microeconomic theory are the:
— Micro Theory Lunch (Tuesday, 12:00 - 1:00 pm)
— Microeonomic Theory Workshop (Wednesday, 2:30 - 4:00 pm)
both of which are an integral and indispensable part of intellectual communication in microeconomic theory.
Recommended Mathematics Courses of Theory Graduate Students
In microeconomic theory, mathematics and statistics represent important languages and techniques to express our ideas. We, therefore, recommend that graduate students in economic theory at Yale take or audit a stream of mathematics and statistics classes. If you take one course a term starting in the second year on, then by the end of the fifth year you will have at least eight important courses to support your ability to develop, analyze, and solve mathematical models. At Yale, there are a number of courses we can recommend and a partial list is the following:
— AMTH 237a: Optimization and Complexity
— AMTH 462a: Graphs and Networks — MATH 250a: Vector Analysis
— MATH 260a: Basic Analysis in Function Spaces
— MATH 301a: Introduction to Analysis
— MATH 305b: Real Analysis MATH
— MATH 320a: Measure Theory and Integration MATH
— MATH 325b: Introduction to Functional Analysis
— STAT 251b: Stochastic Processes
— STAT 330b: Advanced Probability
— STAT 637a: Deterministic and Stochastic Optimization