Spring 2018 Courses: Descriptions and Schedule

= = NOTICE: All course offerings are tentative and subject to change. = =

ECON 702
 
MW 9-10:30AM
Macroeconomic Theory I (Krueger/Menzio, 1 CU)
 
Dynamic programming, search theory, growth theory, asset pricing, business cycles.
ECON 704
 
MW 10:30-12NOON
Macroeconomic Theory II (Greenwood/Rios-Rull, 1 CU)
 
Equilibrium notions in the growth model. Economies with distortions. Incomplete markets. Overlapping generations.
ECON 706
 
TR 10:30-12NOON
Econometrics II (Diebold, 1 CU)
 
Analysis in time and frequency domains, state space representations, Kalman filtering, conditional heteroskedasticity, nonlinear and non-parametric methods for time series, integration, co-integration, numerical and simulation techniques.

Upper Level courses 

Empirical requirement 

ECON 708-001
 
TR 1:30-3:00
Session 1
Agency, Information and Incent. (Matthews, 1 CU)
 
This course studies the economics of adverse selection and moral hazard in strategic settings. The primary focus is on the agency relationship and the structure of agency contracts. Other settings include auctions, bilateral trading, and the internal organization of the firm.
ECON 712-001 *
 
MW 2-3:30
Topics in empirical industrial organization (Atal, 0.5 CU)
 
Topics include: asymmetric information, choice frictions, vertical relationships, quality. The course will focus mainly (not exclusively) on applications to health care markets.
Econ 712-002
 
M 5-8:00
Session 1
Economic Growth (Greenwood, 1 CU)
 
The course first introduces the stylized facts of economic growth to be explained and then presents the cononical models of exogenous and endogenous growth. The course then centers around 3 topics a) Financial Development and Economic Development b) Technological Progress in the Market and c) Technological Progress in the Home.
ECON 712-003 *

MW 9:00-10:30
Session 2

An Introduction to Macroeconomics with Household Heterogeneity (Krueger, 1 CU)
This is a course in quantitative macroeconomics with heterogeneous households. We will first review the basic literature, but then quickly turn to applications of the baseline models as well as their computation. We will cover three broad topics. First, we will discuss stationary models with rich household heterogeneity, explain how they are computed efficiently and apply them to topics in public finance (social security and tax reforms, more specifically). Second, we will study models with household heterogeneity and aggregate fluctuations, again explain how these are best computed and apply them to the study of the aggregate and distributional consequences of large recessions. The third module is devoted to models with (the threat of)consumer default and personal bankruptcy. We explore the role of default for the insurance of idiosyncratic shocks and extend them to models of the housing market and foreclosure decisions. Course grades will be based on three homework projects as well as a paper presentation from the literature in class.
ECON 712-004

TR 1:30-3:00
Session 1

Search in Macroeconomics (Burdett, 1 CU)
The basic Pissarides equilibrium unemployment model and recent related work such as Mortensen and Pissarides, Violente et al., Coles and Mortensen, etc. will be discussed. Then the (S,s) pricing literature and its various extensions will be presented. The object is to investigate price stickiness and its implications starting with early work of Benabou, Weiss, Caplin moving to more recent works such as Golosov and Lucas, Gertler and others. 
ECON 712-005

TR 1:30-3:00

Topics in Economic Theory: Beliefs, Learning, and Equilibrium Selection (Laing, 1 CU)
 
This is a topics half-course, designed for economics Ph.D. students in their second or third year who are interested in pursuing economic theory. Topics covered will include hierarchies of beliefs, the common prior assumption, model uncertainty, equilibrium selection, and learning.
ECON 712-006 *

M 5-8:00
Session 2

Topics in Labor, Health, and Family Economics (Rios-Rull, 1 CU)
 
The description is to have a course where we use modern tools to integrate family formation, health attainment, and labor choices in an integrated way.
ECON 712-007

T 3:00-6:00

International Macroeconomics with Incomplete Markets and Financial Friction (Mendoza, 1 CU)
 
This course studies International Macroeconomics from a perspective that emphasizes financial frictions and incomplete asset markets. After introducing the basic open-economy models, to study issues such as currency crashes, financial crises, and sovereign default, the course introduces a novel approach to modeling international macro issues, such as the interactions between financial globalization and financial development, using models with heterogeneous agents and incomplete markets.
ECON 712-008

TR 1:30-3:00

Nonparametric and Machine Learning Methods for Structural Estimation Problems (Ghandi, 1 CU)
 
ECON 712-009

TR 12:00-1:30
Session 1

Market Design (Vohra, 1 CU)
 
This is a course about the design of markets and not a course on auctions and matching although there will be some discussion of those topics. We will discuss, among other things, the design of electricity markets, healthcare exchanges, and spectrum markets.
ECON 722-001 *

TR 1:30-3:00
Session 2
Econometrics IV: Adv (DiTraglia, 1 CU)
 
Focuses on macro-econometrics. Topics include comparison of Bayesian and frequentist inference in nonstandard settings (e.g. time series models with persistent roots), Bayesian inference in VARS and DSGE models including modern computational tools such as Gibbs sampling, MCMC, Sequential Monte Carlo, particle filtering, etc., and tools for evaluating DSGE models, model selection in a variety of contexts including selection for prediction (including model combination and inference post-selection), dynamic factor models and selecting the number of factors, and selecting moment conditions for GMM. 
ECON 792-001 *

MW 10:30-12
Economics of Labor (Shephard, 1 CU)

Topics include: Theories of the supply and demand for labor, wage determination, wage differentials, labor market discrimination, unemployment occupational choice and dynamics of specific labor markets, theory of matching trade unions. The theory and empirics of human capital accumulation, intertemporal labor supply, search, intergenerational mobility of income and wealth contracts and bargaining, efficiency wage models, principal/agent models, and signaling models. 

ECON 793-001

R 3:00-6:00
Session 1

Economics of Labor II (Menzio, 1 CU)
 
A continuation of Economics of Labor Econ 792.
ECON 793-002

TR 1:30-3:00
Session 2

Economics of Labor II (Burgett, 1 CU)
 
A continuation of Economics of Labor Econ 792.