Undergraduate Course Descriptions

Fall 2020

Introductory microeconomics with a special emphasis on quantitative methods and examples. Intended for students with limited or no experience with calculus.

Instructor(s):
Term Code:
202003
Cancelled

Similar to ECON 115, but taught as a lecture discussion with limited enrollment.

Instructor(s):
Term Code:
202003
Cancelled

Similar to ECON 115, but taught as a lecture discussion with limited enrollment.

Instructor(s):
Term Code:
202003
Cancelled

Similar to ECON 115, but taught as a lecture discussion with limited enrollment.

Instructor(s):
Term Code:
202003
Cancelled

Similar to ECON 115, but taught as a lecture discussion with limited enrollment.

Instructor(s):
Term Code:
202003
Cancelled

Similar to ECON 115, but taught as a lecture discussion with limited enrollment.

Instructor(s):
Term Code:
202003
Cancelled

Similar to ECON 115, but taught as a lecture discussion with limited enrollment.

Instructor(s):
Term Code:
202003
Cancelled

Similar to ECON 116, but taught as a lecture discussion with limited enrollment.

Instructor(s):
Term Code:
202003
Cancelled

Similar to ECON 116, but taught as a lecture discussion with limited enrollment.

Instructor(s):
Term Code:
202003

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.

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202003

An introduction that stresses how the macroeconomy works, including the determination of output, unemployment, inflation, interest rates, and exchange rates. Economic theory is applied to current events.

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202003

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.

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202003

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.

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202003

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.

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202003

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.

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202003

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.

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202003

Foundations of mathematical statistics: probability theory, distribution theory, parameter estimation, hypothesis testing, regression, and computer programming. Recommended for students considering graduate study in economics.

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202003

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.

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202003

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.

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202003

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.

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202003

Microeconomic theory brought to bear on current issues in natural resource policy. Topics include regulation of pollution, hazardous waste management, depletion of the world’s forests and fisheries, wilderness and wildlife preservation, and energy planning.

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202003

Economic development in China since the late 1970s. Emphasis on factors pushing China toward a transition from its modern export- and investment-led development model to a pro-consumption model. The possibility of a resulting identity crisis, underscored by China’s need to embrace political reform and by the West’s long-standing misperceptions of China.

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202003

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.

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202003

Comprehensive survey of the causes, events, policy responses, and aftermath of the recent global financial crisis. Study of the dynamics of financial crises in a modern economy. Prerequisite: Successful completion of a course in introductory economics.

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202003

A study of how consumers and firms are affected by the globalization of the world economy. Topics include trade costs, the current account, exchange rate pass-through, international macroeconomic co-movement, multinational production, and gains from globalization. 

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202003

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.

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202003

Advanced study of econometric theory and applied econometrics, providing students opportunity and ability to conduct high-level empirical research, combining economics, econometrics, and data. Recommended for students planning to write or currently writing an empirical senior essay.

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202003

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.

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202003

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.

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202003

Why do cities exist? Why do firms cluster? Why some U.S. cities have prospered in recent decades while others have declined? What are the structural roots of our housing crises today? This course takes cities as our laboratory and asks important aspects that are reshaping the very fabric of our cities and neighborhoods.

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202003

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.

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202003

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.

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202003

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.

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202003

This seminar course is about the economics of gender and has a focus on labor and marriage markets. Students are given an overview of gender differences in these markets, as well as some potential reasons for those differences. The course also discusses policies that can affect the gender gaps.

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202003

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.

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202003

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.

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202003

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.

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202003

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.

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Term Code:
202003

This course focuses on the growing body of psychology and economics literature studying how poverty affects economic decision-making through psychological and behavioral mechanisms.

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202003

Focus on systemic risk, banking crises, financial stability and macroprudential policies. Additional emphasis on systemic risk and prudential policies in peripheral European economies and emerging economies.

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202003

Introduction to empirical microeconomics and its methodologies. Academic research in the field explored using tools from economic theory and econometrics. Topics include approaches to identification, environmental effects on health, and the economics of crime, gender, and race.

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Term Code:
202003

This course explores topics on dynamic games: we consider situations where agents interact repeatedly. We cover applications related to a range of fields from industrial organization (price wars and oligopoly with imperfect monitoring) to macroeconomic policy (time consistency). Students should have a solid background in multivariate calculus, be comfortable with rigorous proofs and mathematical arguments, and be willing to learn further mathematical tools as needed.

Instructor(s):
Term Code:
202003

Students deciding to write one-term senior essays by enrolling in ECON 491, or two-term senior essays by enrolling in ECON 491 and 492, must choose their topics and advisers by Monday, September 30, 2019. One-term senior essays are due on Monday, December 2, 2019 by 4:30 pm. Two-term senior essays are due by 4:30 pm on Wednesday, April 1, 2020. Essays should be submitted electronically to the Economics department (qazi.azam@yale.edu) by the due date. Late essays will not be accepted without a dean’s excuse. Advisers are chosen with the assistance of the DUS. The format and character of the departmental senior essay may vary to suit the interest of the student and the demands of the topic, but it is expected that the tools and concepts of economic analysis will be employed and that the essay will contain original research. Paper lengths may vary; the normal expectation is thirty pages. Students may receive up to two credits for the senior essay, though it counts as only one departmental seminar whether one or two terms are taken. Meetings for seniors to discuss the senior essay guidelines and requirements will be held on Tuesday August 27, 2019 at 12:15 pm. and Wednesday, August 28, 2019 at 4:00 pm. in Room 106, 28 Hillhouse Avenue. Seniors planning to write either a one-term or a two-term senior essay should attend one of these meetings. Details regarding calculation of Distinction will be discussed and senior essay guidelines will be distributed.

Senior essay prospectus forms are due Monday, September 30, 2019. Students who do not turn the prospectus in on time will not be permitted to write an essay.

Term Code:
202003

Students deciding to write one-term senior essays by enrolling in ECON 491, or two-term senior essays by enrolling in ECON 491 and 492, must choose their topics and advisers by Monday, September 30, 2019. One-term senior essays are due on Monday, December 2, 2019 by 4:30 pm. Two-term senior essays are due by 4:30 pm on Wednesday, April 1, 2020. Essays should be submitted electronically to the Economics department (qazi.azam@yale.edu) by the due date. Late essays will not be accepted without a dean’s excuse. Advisers are chosen with the assistance of the DUS. The format and character of the departmental senior essay may vary to suit the interest of the student and the demands of the topic, but it is expected that the tools and concepts of economic analysis will be employed and that the essay will contain original research. Paper lengths may vary; the normal expectation is thirty pages. Students may receive up to two credits for the senior essay, though it counts as only one departmental seminar whether one or two terms are taken. Meetings for seniors to discuss the senior essay guidelines and requirements will be held on Tuesday August 27, 2019 at 12:15 pm. and Wednesday, August 28, 2019 at 4:00 pm. in Room 106, 28 Hillhouse Avenue. Seniors planning to write either a one-term or a two-term senior essay should attend one of these meetings. Details regarding calculation of Distinction will be discussed and senior essay guidelines will be distributed.

Senior essay prospectus forms are due Monday, September 30, 2019. Students who do not turn the prospectus in on time will not be permitted to write an essay.

Instructor(s):
Term Code:
202003

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.

Instructor(s):
Term Code:
202003