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Courses

Spring 2024

ECON 501 01
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General equilibrium and welfare economics. Allocation involving time. Public sector economics. Uncertainty and the economics of information. Introduction to social choice.
Instructor(s)
Location
TRUM87 B120
Term Code
202401
Meeting Times
MW 10.00-11.20
ECON 511 01
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Theories of saving, investment, portfolio choice, and financial markets. Longer-run developments, economic growth, capital accumulation, income distribution.

Instructor(s)
Location
TRUM87 B120
Term Code
202401
Meeting Times
TTh 10.00-11.20
ECON 521 01
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Contracts and the economics of organization. Topics may include dynamic contracts (both explicit and implicit), career concerns, hierarchies, Bayesian mechanism design, renegotiation, and corporate control.
Location
HLH28 A102
Term Code
202401
Meeting Times
TTh 8.45-10.00
ECON 522 01
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A forum for advanced students to critically examine recent papers in the literature and present their own work.
Term Code
202401
Meeting Times
T 12.00-1.00
ECON 526 01
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Macroeconomic equilibrium in the presence of uninsurable labor income risk. Implications for savings, asset prices, unemployment.
Instructor(s)
Location
HLH28 A06
Term Code
202401
Meeting Times
TTh 1.15-2.30
ECON 531 01
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This course examines the foundations of money and finance from the perspective of general equilibrium with incomplete markets. The relevant mathematical tools from elementary stochastic processes to differential topology are developed in the course. Topics include asset pricing, variations of the capital asset pricing model, the “Hahn paradox” on the value of flat money, default and bankruptcy, collateral equilibrium, market crashes, adverse selection and moral hazard with perfect competition, credit card equilibrium, and general equilibrium with asymmetric information.

Location
HLH28 A102
Term Code
202401
Meeting Times
F 1.00-4.00
ECON 538 01
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Description
Presentations by research scholars and participating students.
Location
TRUM87 B120
Term Code
202401
Meeting Times
W 2.30-3.50
ECON 540 01
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A course that gives third- and fourth-year students doing research in macroeconomics an opportunity to prepare their prospectuses and to present their dissertation work. Each student is required to make at least two presentations per term. For third-year students and beyond, at least one of the presentations in the first term should be a mock job talk.
Term Code
202401
Meeting Times
Th 12.00-1.00
ECON 542 01
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A forum for presentation and discussion of state-of-the-art research in macroeconomics. Presentations by research scholars and participating students of papers in closed economy and open economy macroeconomics and monetary economics.
Location
TRUM87 B120
Term Code
202401
Meeting Times
T 2.20-3.50
ECON 547 01
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The objective of this course is to study the emerging literature on social networks and economic development. Both theoretical and empirical research papers are covered, at a level that is suitable for the advanced undergraduate or graduate student. The course is divided into three sections: (1) Labor Markets and Migration: how community networks support their members in the labor market and how they support their spatial and occupational mobility during the process of development; (2) Commitment: how communities use social ties to solve commitment problems in developing economics, both in theory and in practice; (3) Inter-Group Interactions: community networks do not operate independently, and a nascent literature is starting to investigate the nature of these group interactions. Time permitting, we examine the role played by networks in the diffusion of information at the end of the course.

Location
HLH28 A06
Term Code
202401
Meeting Times
MW 4.00-5.15
ECON 548 01
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This course analyzes empirically and theoretically the political, institutional, and social underpinnings of economic development. We cover an array of topics ranging from power structures to corruption, state capacity, social capital, conflict, democratization, and democratic backsliding. We focus on recent advances to identify open areas for further research.

Instructor(s)
Location
HLH28 A106
Term Code
202401
Meeting Times
W 1.30-3.45
ECON 549 01
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The twenty-first century presents new challenges for the global economy including rising global and within-country inequalities, slowing globalization, the deployment of new technologies, and climate change. This course examines the design of economic policy to meet these challenges. Some of the questions we analyze include: What is the future role of manufacturing versus services in economic development? How large are the distortions caused by unequal access in labor markets for women? Why do firms in developing economies remain small, and what are their constraints on growth? Which policies distort and which improve the allocation of a country's resources? Although these topics appear disparate, the course provides a unifying framework to tackle them. Specifically, we adopt a markets-based approach that views economic development through the functioning of markets. Emphasis is placed on learning how to draw implications for economic policy from state-of-the-art research in economics.

Location
WTS A30
Term Code
202401
Meeting Times
F 9.00-11.30
ECON 551 01
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Provides a basic knowledge of econometric theory, and an ability to carry out empirical work in economics. Topics include linear regression and extensions, including regression diagnostics, generalized least squares, statistical inference, dynamic models, instrumental variables and maximum likelihood procedures, simultaneous equations, nonlinear and qualitative-choice models. Examples from cross-section, time series, and panel data applications.
Location
TRUM87 B120
Term Code
202401
Meeting Times
MW 8.30-9.50
ECON 552 01
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The treatment of the subject is rigorous, attentive to modern developments, and proceeds to research level in several areas. Linear models from core curriculum. Topics include linear estimation theory, multiple and multivariate regressions, Kruskal’s theorem and its applications, classical statistical testing by likelihood ratio, Lagrange multiplier and Wald procedures, bootstrap methods, specification tests, Stein-like estimation, instrumental variables, and an introduction to inferential methods in simultaneous stochastic equations.

Location
HLH28 A102
Term Code
202401
Meeting Times
TTh 1.30-2.45
ECON 554 01
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The first half of this course is about nonlinear parametric models. Specification, estimation, and testing within the Likelihood and Generalized Method of Moments frameworks. First-order asymptotics for both smooth and non-smooth objective functions. Efficiency and robustness. A short account of high-order asymptotics for smooth problems. The second part is on nonparametric and semiparametric methods. Nonparametric estimation by kernels, series, splines, and other methods. Bias reduction and bandwidth selection. The course of dimensionality and additive models. Specification and estimation of semiparametric models. U-statistics and asymptotic properties. Efficiency and adaptation.
Instructor(s)
Location
HLH28 A06
Term Code
202401
Meeting Times
Th 3.00-5.30
ECON 566 01
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Machine learning algorithms and their applications to economic analysis, specifically causal inference, learning, and game theory. Curse of dimensionality, model selection, and choice of tuning parameters from a computational and econometric perspective.

Location
WTS A51
Term Code
202401
Meeting Times
TTh 4.00-5.15
ECON 568 01
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A forum for state-of-the-art research in econometrics. Its primary purpose is to disseminate the results and the technical machinery of ongoing research in theoretical and applied fields.
Location
HLH28 A106
Term Code
202401
Meeting Times
M 2.30-3.30
ECON 570 01
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A course for third- and fourth-year students doing research in econometrics to prepare their prospectus and present dissertation work.
Location
HLH28 A106
Term Code
202401
Meeting Times
M 12.00-1.00
ECON 574 01
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This course is designed for graduate Ph.D. students interested in econometric methods used in empirical research. The goal of this course is to provide an overview of different empirical methods, with an emphasis on practical implementation. In the first half of the course, we discuss the properties of an effective empirical research design and review topics in linear regression and discrete choice. In the second half of the course, we cover the new applied econometrics literature on difference-in-differences, regression discontinuity, instrumental variables (including Bartik IV, simulated instruments, and examiner designs), machine learning, and partial identification.

Location
EVANS 4230
Term Code
202401
Meeting Times
TTh 2.40-4.00
ECON 588 01
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A forum for discussion and criticism of research in progress. Presenters include graduate students, Yale faculty, and visitors. Topics concerned with long-run trends in economic organization are suitable for the seminar. Special emphasis given to the use of statistics and of economic theory in historical research.
Location
HLH28 A102
Term Code
202401
Meeting Times
Th 12.00-1.00
ECON 589 01
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A forum for discussion and criticism of research in progress. Presenters include graduate students, Yale faculty, and visitors. Topics concerned with long-run trends in economic organization are suitable for the seminar. Special emphasis given to the use of statistics and of economic theory in historical research.
Location
TRUM87 B120
Term Code
202401
Meeting Times
M 4.00-5.30
ECON 601 01
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Examination of alternative modes of public control of economic sectors with primary emphasis on antitrust and public utility regulation in the U.S. economy. Public policy issues in sectors of major detailed governmental involvement.
Instructor(s)
Location
HLH28 A06
Term Code
202401
Meeting Times
MW 1.15-2.30
ECON 606 01
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For third-year students in microeconomics, intended to guide students in the early stages of theoretical and empirical dissertation research. Emphasis on regular writing assignments and oral presentations.
Location
HLH28 A106
Term Code
202401
Meeting Times
Th 12.00-1.00
ECON 608 01
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For advanced graduate students in applied microeconomics, serving as a forum for presentation and discussion of work in progress of students, Yale faculty members, and invited speakers.
Location
HLH28 A106
Term Code
202401
Meeting Times
T 2.30-3.45
ECON 631 01
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Topics include static and dynamic models of labor supply, human capital wage function estimation, firm-specific training, compensating wage differentials, discrimination, household production, bargaining models of household behavior, intergenerational transfers, and mobility.
Instructor(s)
Location
HLH28 A06
Term Code
202401
Meeting Times
MW 10.30-11.45
ECON 638 01
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A forum primarily for graduate students to present their research plans and findings. Discussions encompass empirical microeconomic research relating to both high- and low-income countries.
Location
TRUM87 B120
Term Code
202401
Meeting Times
Th 3.30-5.00
ECON 672 01
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Much of modern financial economics works with models in which agents are rational, in that they maximize expected utility and use Bayes’s law to update their beliefs. Behavioral finance is a large and active field that studies models in which some agents are less than fully rational. Such models have two building blocks: limits to arbitrage, which make it difficult for rational traders to undo the dislocations caused by less rational traders; and psychology, which catalogues the kinds of deviations from full rationality we might expect to see. We discuss these two topics and then consider a number of applications: asset pricing (the aggregate stock market and the cross-section of average returns); individual trading behavior; and corporate finance (security issuance, corporate investment, and mergers).

Location
EVANS 4200
Term Code
202401
Meeting Times
Th 4.10-7.10p
ECON 675 01
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The course exposes students to main stochastic modeling methods and solution concepts used to study problems in operations research and management. The first half of the class covers analysis of queuing models such as Markovian queues, networks of queues, and queues with general arrival or service distributions, as well as approximation techniques such as heavy traffic approximation. The second half focuses on control of stochastic processes; it covers finite and infinite-horizon dynamic programming problems, and special classes such as linear quadratic problems, optimal stopping, and multi-armed bandit problems.

Term Code
202401
Meeting Times
M 2.30-5.30
ECON 675 02
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The course exposes students to main stochastic modeling methods and solution concepts used to study problems in operations research and management. The first half of the class covers analysis of queuing models such as Markovian queues, networks of queues, and queues with general arrival or service distributions, as well as approximation techniques such as heavy traffic approximation. The second half focuses on control of stochastic processes; it covers finite and infinite-horizon dynamic programming problems, and special classes such as linear quadratic problems, optimal stopping, and multi-armed bandit problems.

Location
EVANS 1556
Term Code
202401
Meeting Times
W 2.30-5.30
ECON 679 01
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This workshop is for third-year and other advanced students in financial economics. It is intended to guide students in the early stages of dissertation research. The emphasis is on presentation and discussion of materials presented by students that will eventually lead to dissertation topics. Open to third-year and advanced Ph.D. students only.

Term Code
202401
ECON 681 01
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Major topics in public finance including externalities, public goods, benefit/cost analysis, fiscal federalism, social insurance, retirement savings, poverty and inequality, taxation, and others. Applications are provided to crime, education, environment and energy, health and health insurance, housing, and other markets and domains. The course covers a variety of applied methods including sufficient statistics, randomized control trials, hedonic models, regression discontinuity, discrete choice, spatial equilibrium, dynamic growth models, differences-in-differences, integrated assessment models, applied general equilibrium event studies, firm production functions, learning models, general method of moments, and propensity-score reweighting estimators.

Location
HLH28 A106
Term Code
202401
Meeting Times
F 9.00-12.00
ECON 706 01
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This workshop is for third-year and other advanced students in international economic fields. It is intended to guide students in the early stages of dissertation research. The emphasis is on students’ presentation and discussion of material that will eventually lead to the prospectus.

Location
HLH28 A06
Term Code
202401
Meeting Times
T 12.00-1.00
ECON 721 01
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The course covers empirical topics in international trade with particular emphasis on current research areas. Topics include tests of international trade theories; studies of the relationship between international trade, labor markets, and income distribution; recent trade liberalization episodes in developing countries; empirical assessment of various trade policies, such as VERs and Anti-Dumping; productivity (and its relation to international trade liberalization); and exchange rates, market integration, and international trade. Methodologically, the course draws heavily on empirical models used in the fields of industrial organization and to a lesser degree labor economics; taking these courses is thus recommended though not required.
Instructor(s)
Location
HLH28 A102
Term Code
202401
Meeting Times
Th 3.00-5.30
ECON 728 01
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Description

Workshop/seminar for presentations and discussion on topics in the field of international trade.

Term Code
202401
Meeting Times
W 2.30-3.50
ECON 731 01
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Analysis of development experiences since World War II. Planning and policy making across countries and time. Models of development, growth, foreign trade, and investment. Trade, capital, and technology flows and increasing interdependence. The political economy of policy making and policy reform.
Location
HLH28 A102
Term Code
202401
Meeting Times
MW 9.00-10.15
ECON 732 01
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Examines the models of classical and modern economists to explain the transition of developing economies into modern economic growth, as well as their relevance to income distribution, poverty alleviation, and human development.
Instructor(s)
Location
LUCE 202
Term Code
202401
Meeting Times
TTh 2.30-3.45
ECON 750 01
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A forum for graduate students and faculty with an interest in the economic problems of developing countries. Faculty, students, and a limited number of outside speakers discuss research in progress.
Location
TRUM87 B120
Term Code
202401
Meeting Times
M 2.30-3.50
ECON 756 01
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Description
Workshop for students doing research in development to present and discuss work.
Location
TRUM87 B120
Term Code
202401
Meeting Times
M 12.00-1.00
ECON 794 01
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Description
Theoretical and empirical research in international trade policy. The course focuses on welfare analysis of trade policies under perfect completion and under oligopoly; the political economy of trade policy; and the economics and political economy of international trade agreements.
Instructor(s)
Location
HLH28 A07
Term Code
202401
Meeting Times
TTh 1.15-2.30
ECON 796 01
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We have data from markets with multiple agents. A question of interest to economists is to use these data to learn about a policy counterfactual. There are multiple approaches to answering such questions in economics. We evaluate the structural and reduced form approaches when data are a result of an interaction of multiple agents such as games (like entry and auctions) and networks. We first read the classic works, highlighting what can be learned and the role assumptions play. We mostly use applications from Industrial Organization where multi-firm market data are common. We highlight issues of incompleteness, multiplicity, and partial identification that are typical. The emphasis is on describing methods and approaches (rather than applications), and our discussion is mostly heuristic, meant to encourage discussions and open questions.

Term Code
202401
ECON 796 02
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We have data from markets with multiple agents. A question of interest to economists is to use these data to learn about a policy counterfactual. There are multiple approaches to answering such questions in economics. We evaluate the structural and reduced form approaches when data are a result of an interaction of multiple agents such as games (like entry and auctions) and networks. We first read the classic works, highlighting what can be learned and the role assumptions play. We mostly use applications from Industrial Organization where multi-firm market data are common. We highlight issues of incompleteness, multiplicity, and partial identification that are typical. The emphasis is on describing methods and approaches (rather than applications), and our discussion is mostly heuristic, meant to encourage discussions and open questions.

Term Code
202401
Meeting Times
T 3.00-6.00p