Economics

Economics is a social scientific discipline that both studies economic activity in its narrower sense and develops methodologies for studying decision-making in a broader set of domains.  Economic activity narrowly construed is that subset of people's activities primarily concerned with the production and consumption of goods and services, the allocation of resources, goods and asset markets, the money supply, and taxation.  More broadly, economics provides a theory of rational choice that has been useful in fields ranging from the study of politics and healthcare to theoretical biology.  In recent years, economists have been expanding their study of choice to also include the interaction of cognitive limitations, decision heuristics, and psychological and social influences with the rational aspects of choice.

For additional information, please visit the department's website: http://www.brown.edu/Departments/Economics/

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ECON 0110. Principles of Economics.

Extensive coverage of economic issues, institutions, and vocabulary, plus an introduction to economic analysis and its application to current social problems. Required for all economics concentrators. Prerequisite for ECON 1110, 1130, 1210 and 1620. Serves as a general course for students who will take no other economics courses and want a broad introduction to the discipline. Weekly one-hour conference required (conferences are not held during the summer session).

Fall ECON0110 S01 15009 MWF 9:00-9:50(01) (R. Friedberg)
Fall ECON0110 C01 15018 M 12:00-12:50 (R. Friedberg)
Fall ECON0110 C02 15019 M 12:00-12:50 (R. Friedberg)
Fall ECON0110 C03 15020 M 12:00-12:50 (R. Friedberg)
Fall ECON0110 C04 15021 M 12:00-12:50 (R. Friedberg)
Fall ECON0110 C05 15022 M 12:00-12:50 (R. Friedberg)
Fall ECON0110 C06 15023 M 3:00-3:50 (R. Friedberg)
Fall ECON0110 C07 15024 M 3:00-3:50 (R. Friedberg)
Fall ECON0110 C08 15025 M 3:00-3:50 (R. Friedberg)
Fall ECON0110 C09 15026 M 7:00-7:50 (R. Friedberg)
Fall ECON0110 C10 15027 T 12:00-12:50 (R. Friedberg)
Fall ECON0110 C11 15028 T 12:00-12:50 (R. Friedberg)
Fall ECON0110 C12 15029 T 12:00-12:50 (R. Friedberg)
Fall ECON0110 C13 15030 T 12:00-12:50 (R. Friedberg)
Fall ECON0110 C14 15031 T 12:00-12:50 (R. Friedberg)
Fall ECON0110 C15 15032 T 4:00-4:50 (R. Friedberg)
Fall ECON0110 C16 15033 T 4:00-4:50 (R. Friedberg)
Fall ECON0110 C17 15034 T 4:00-4:50 (R. Friedberg)
Fall ECON0110 C18 15035 T 7:00-7:50 (R. Friedberg)
Fall ECON0110 C19 15036 T 7:00-7:50 (R. Friedberg)
Fall ECON0110 C20 15037 T 7:00-7:50 (R. Friedberg)
Spr ECON0110 S01 24326 MWF 9:00-9:50(02) (R. Friedberg)
Spr ECON0110 C01 24327 M 12:00-12:50 (R. Friedberg)
Spr ECON0110 C02 24328 M 12:00-12:50 (R. Friedberg)
Spr ECON0110 C03 24329 M 12:00-12:50 (R. Friedberg)
Spr ECON0110 C04 24330 M 12:00-12:50 (R. Friedberg)
Spr ECON0110 C05 24331 M 12:00-12:50 (R. Friedberg)
Spr ECON0110 C06 24332 M 3:00-3:50 (R. Friedberg)
Spr ECON0110 C07 24333 M 3:00-3:50 (R. Friedberg)
Spr ECON0110 C08 24334 M 3:00-3:50 (R. Friedberg)
Spr ECON0110 C09 24335 M 7:00-7:50 (R. Friedberg)
Spr ECON0110 C10 24336 T 12:00-12:50 (R. Friedberg)
Spr ECON0110 C11 24337 T 12:00-12:50 (R. Friedberg)
Spr ECON0110 C12 24338 T 12:00-12:50 (R. Friedberg)
Spr ECON0110 C13 24339 T 12:00-12:50 (R. Friedberg)
Spr ECON0110 C14 24340 T 12:00-12:50 (R. Friedberg)
Spr ECON0110 C15 24341 T 4:00-4:50 (R. Friedberg)
Spr ECON0110 C16 24342 T 4:00-4:50 (R. Friedberg)
Spr ECON0110 C17 24343 T 4:00-4:50 (R. Friedberg)
Spr ECON0110 C18 24344 T 7:00-7:50 (R. Friedberg)
Spr ECON0110 C19 24345 T 7:00-7:50 (R. Friedberg)
Spr ECON0110 C20 24346 T 7:00-7:50 (R. Friedberg)
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ECON 0180A. Economics on a Broad Canvas.

Where economics fits into the broader pattern of the social sciences, history, and philosophy. Topics include: the world economy from pre-history to the present; the history and varieties of economic thought; comparative economic systems; challenges facing less developed countries; positive and normative perspectives on income inequality and redistribution; and the economy and the quality of life, including the environment. Enrollment limited to 20 first year students.

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ECON 0180B. The Welfare State in America.

Introduction to the economic aspects of the major welfare programs provided by government in American Society; Social Security, Health Care and Insurance, Education, Environmental Control. The focus of the course will be on the benefits and costs of each program and proposals for altering the scope of the public sector. Enrollment limited to 20 first year students. FYS

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ECON 0180C. Punishment and Inequality in America.

This seminar will use social theory and social science evidence to understand how punishment works as a mechanism to produce inequality in American society. The institution of incarceration as a generator of social stigma is examined in this light. Zero-tolerance policing practices and racial profiling are discussed from this point of view as well. Questions about authority, legitimacy, deviancy, power and social cognition will guide the discussion. Enrollment limited to 20 first year students. FYS WRIT

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ECON 0180D. The Power of Data (and its Limits).

Open any newspaper, any magazine, any academic journal, you’ll find claims which rely on data. Government policies, economic data, health recommendations – all of these are based on some underlying data analysis. Data used in this context has enormous power, but it also has limits. Understanding these limits is key to using – but not mis-using – the power of data.

This first-year seminar will focus on understanding where data comes from, what we can learn from it, and what the limitations are. The course will emphasize policy-relevant economic and public health applications.

Fall ECON0180D S01 15595 TTh 2:30-3:50(03) (E. Oster)
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ECON 0250. Welfare Rights, Cosmopolitanism, and Economic Development.

We will explore the ethical and economic foundation of Human Rights and its relationship to the Cosmopolitanism View. In particular, we will explore the question of whether people should have not just human rights to liberty, life and security, but also to a basic level of economic subsistence. Prerequisite: ECON 0110 or advanced placement. Enrollment limited to 20.

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ECON 0300. Health Disparities.

This seminar will examine the causes and consequences of racial and ethnic disparities in health in the United States, and their relationship to economic disparities. Although the course will be taught primarily from an economics perspective, it will draw on literature from sociology, demography and epidemiology. Enrollment determined by lottery. Prior completion of ECON 0110 or a higher-level economics course is required. SOPH

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ECON 0510. Development and the International Economy.

A course designed primarily for students who do not plan to concentrate in economics but who seek a basic understanding of the economics of less developed countries, including savings and investment, health and education, agriculture and employment, and interactions with the world economy, including trade, international capital flows, aid, and migration. Prerequisite: ECON 0110 or advanced placement. Enrollment limited to 100.

Spr ECON0510 S01 24385 MWF 11:00-11:50(04) (B. Steinberg)
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ECON 0710. Financial Accounting.

Basic accounting theory and practice. Accounting procedures for various forms of business organizations.

Fall ECON0710 S01 15038 MW 6:00-7:20(15) (R. D'Andrea)
Fall ECON0710 S02 15039 TTh 6:00-7:20(05) (T. Lonardo)
Spr ECON0710 S01 24347 MW 6:00-7:30(13) (R. D'Andrea)
Spr ECON0710 S02 24348 TTh 6:00-7:30(12) (T. Lonardo)
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ECON 0780. Political Theory and Economic Analysis.

We will examine what role economic theory plays and/or ought to play in political theory and on our conception of politics more broadly. Topics include particular political philosophies and economic concepts such as rationality and efficiency. Prerequisite: ECON 0110 or advanced placement.

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ECON 0790. Business, Economics, Ethics.

This is a seminar that focuses on issues of ethics that arise in the context of business and economics. Learning occurs primarily through guided student discussions in class. Other economics courses, especially ECON 0110, 1110, 1340 and 1790 are highly recommended.

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ECON 1110. Intermediate Microeconomics.

Tools for use in microeconomic analysis, with some public policy applications. Theory of consumer demand, theories of the firm, market behavior, welfare economics, and general equilibrium. Prerequisite: MATH 0060, 0070, 0090, 0100, 0170, 0180, 0190, 0200, or 0350; and ECON 0110; or advanced placement.

Fall ECON1110 S01 15040 TTh 2:30-3:50(03) (J. Bernard)
Fall ECON1110 S02 15041 MWF 10:00-10:50(14) (L. Barrage)
Fall ECON1110 S03 15042 MWF 2:00-2:50(07) (L. Barrage)
Spr ECON1110 S01 24349 TTh 9:00-10:20(08) (J. Fanning)
Spr ECON1110 S03 24351 TTh 2:30-3:50(11) 'To Be Arranged'
Spr ECON1110 S04 25226 MW 3:00-4:20(14) (D. Brenner)
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ECON 1130. Intermediate Microeconomics (Mathematical).

Microeconomic theory: Theories of the consumer and firm, competitive equilibrium, factor markets, imperfect competition, game theory, welfare economics, general equilibrium. May not be taken in addition to ECON 1110. Prerequisite: MATH 0100, 0170, 0180, 0190, 0200, or 0350; and ECON 0110; or advanced placement.

Fall ECON1130 S01 15043 TTh 9:00-10:20(08) (R. Vohra)
Spr ECON1130 S01 24368 TTh 1:00-2:20(10) (R. Serrano)
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ECON 1160. Managerial Economics.

Analysis for making policy decisions within a firm. Goals of the firm, analytical methods for optimizing under constraints. Production decisions, pricing strategies, and investment plans. Advertising, diversification, and research and development. Effect of nonmarket constraints, governmental and self-imposed. Treatment of risk and uncertainty. Prerequisites: ECON 1110 or 1130.

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ECON 1170. Welfare Economics and Social Choice Theory.

This is an advanced microeconomic theory class for undergraduates. Building on the intermediate microeconomics course, the approach is more formal and mathematically more rigorous, presenting arguments and expecting students to carefully develop techniques in order to understand and produce logical proofs. Topics include the efficiency and coalitional stability properties of markets, as well as other mechanisms to allocate resources. Market failures are discussed, including advanced treatments of externalities, public goods, and asymmetric information. The second part of the course will discuss a number of topics in social choice theory, including different normative criteria of compensation, life and death choices, majority voting, Arrow’s impossibility theorem.

Fall ECON1170 S01 16323 TTh 1:00-2:20(10) (R. Serrano)
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ECON 1185. The Welfare State.

The course will include analyses of Health Care, Social Security, Medicare, Medicaid, Immigration Control, and Environmental Control. The focus will be on the extent to which the programs meet their goals without straining the federal budget. Both existing and alternative programs will be evaluated in terms of costs, benefits, as well as their present and future demands on tax revenue and user fees. Prerequisite: ECON 1110 or 1130; and APMA 1650 or ECON 1620. Enrollment limited to 30 senior concentrators in Economics, Mathematical Economics, Applied Math-Economics, Computer Science Economics, and BEO.

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ECON 1210. Intermediate Macroeconomics.

The economy as a whole: Level and growth of national income, inflation, unemployment, role of government policy. Prerequisite: MATH 0060, 0070, 0090, 0100, 0170, 0180, 0190, 0200, or 0350; and ECON 0110; or advanced placement.

Fall ECON1210 S01 15044 MWF 9:00-9:50(08) (P. Michaillat)
Fall ECON1210 S02 15045 MWF 10:00-10:50(08) (P. Michaillat)
Fall ECON1210 S03 15046 TTh 10:30-11:50(13) (G. Siourounis)
Spr ECON1210 S01 24352 MWF 9:00-9:50(02) (S. Michalopoulos)
Spr ECON1210 S02 24353 MWF 10:00-10:50(03) (S. Michalopoulos)
Spr ECON1210 S03 24354 TTh 1:00-2:20(10) (G. Siourounis)
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ECON 1220. Monetary and Fiscal Policy.

This course is about macroeconomic policy with special focus on the recent economic crisis. Questions will be addressed such as: How does monetary policy affect the economy? What is the effect of government spending and tax cuts? What should the government do in the event of a financial crisis? The main objective of the course is to introduce students to the type of models and methods used in current research in macroeconomics both in the scholarly literature but also in the practice of central banks and major policy institutions.

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ECON 1225. Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies.

The course is concerned with macroeconomic policy in the United States, with special focus on the recent economic crisis. The main objective of the course is to introduce students to the type of models and methods used in current research in macroeconomics both in the scholarly literature but also in the practice of central banks and major policy institutions. Events of the financial crisis and the economic recession of 2007-2009 will serve to illustrate the challenges confronted by macroeconomic analysis. Prerequisites: ECON 1110 or 1130; and MATH 0090, 0100, 0170, 0180, 0190, 0200, or 0350; or advanced placement. Enrollment limited to 30.

Fall ECON1225 S01 16366 M 3:00-5:30(15) (G. Eggertsson)
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ECON 1275. History of Economic Thought.

Seminar explores economic thought from the classical Greek philosophers to mid twentieth-century economists. It is not a course in economic history. Rather, it deals with the content of economic writings such as Adam Smith's Wealth of Nations and Karl Marx's Capital. This course provides you with an overview of the history of economic ideas as well as an in-depth exploration of six of major figures in the history of economics: Adam Smith, Thorstein Veblen, Alfred Marshall, Karl Marx, F. A. Hayek, and John Maynard Keynes. Prerequisites: ECON 1110 or 1130; 1210; and 1620 or 1630. Enrollment limited to 30. WRIT

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ECON 1300. Education, the Economy and School Reform (EDUC1150).

Interested students must register for EDUC 1150.

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ECON 1301. Economics of Education I.

This course teaches students how to use microeconomics to analyze a broad array of education policy issues. The departure of this course from ECON 1110 is the emphasis on studying microeconomics in applied settings, and in particular, using microeonomic concepts to think about, analyze, and solve policy questions in education. Prerequisite: ECON 1110 or 1130.

Spr ECON1301 S01 24942 TTh 9:00-10:20(08) (J. Tyler)
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ECON 1305. Economics of Education: Research.

This course will cover academic research in the Economics of Education. Topics include production of student achievement, measuring student achievement, funding of public education, and school choice and school vouchers. Prerequisites: ECON 1110 or 1130; and APMA 1650 or CSCI 1450 or ECON 1620 or 1630. Enrollment limited to 25 juniors, seniors, and graduate students. WRIT DPLL

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ECON 1310. Labor Economics.

Labor supply, human capital, income inequality, discrimination, immigration, unemployment. Prerequisite: ECON 1110 or 1130; and APMA 1650 or CSCI 1450 or ECON 1620 or 1630. Enrollment limited to 100. DPLL

Spr ECON1310 S01 25204 TTh 9:00-10:20(08) (K. Chay)
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ECON 1315. Health, Education, and Social Policy.

The goal of the course is to help students to use economic theory and modern empirical methodology to think critically about the relative costs and benefits of health and education policies. By the end of the course students should feel comfortable critically evaluating proposals meant to increase human capital through school reforms, increased access to health care, or improved health environments.

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ECON 1340. Economics of Global Warming.

The problem of global warming can be usefully be described with the following simple economic model. We face a tradeoff between current consumption, future consumption, and future climate, have preferences over consumption and future climate and would like to choose our optimal climate/consumption bundle. This course is organized around filling in the details required to make this model useful, characterizing the optimal climate/consumption path suggested by the model, and finally, investigating policies to achieve the optimal path.

Fall ECON1340 S01 16819 MW 8:30-9:50(01) (M. Turner)
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ECON 1350. Environmental Economics and Policy.

This course equips students with theoretical and empirical tools to analyze environmental issues from the perspective of economics. First, we review when and why the markets fail, competing policy solutions (e.g., cap-and-trade), and cost-benefit analysis. Second, we survey methods to quantify the benefits of environmental regulations, including revealed and stated preference methods, a primer on climate-economy modeling, and a real-world application in a class research project. Third, we study the costs of environmental regulations. We conclude with advanced policy considerations (e.g., trans-boundary pollutants), private market solutions/corporate social responsibility, and select special topics (e.g., resources and economic development).

Fall ECON1350 S01 16849 TTh 10:30-11:50(13) (L. Barrage)
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ECON 1355. Environmental Issues in Development Economics (ENVS 1355).

Interested students must register for ENVS 1355.

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ECON 1360. Health Economics.

This course introduces students to the issues, theory and practice of health economics in the US. Topics include the economic determinants of health, the market for medical care, the market for health insurance and the role of the government in health care. Course work includes data analyses using the program STATA. Prerequisites: ECON 1110 or 1130; and ECON 1620, 1630, or APMA 1650 or CSCI 1450 or other statistics background. Enrollment limited to 24. DPLL

Spr ECON1360 S01 24382 T 4:00-6:30(16) (A. Aizer)
Spr ECON1360 L01 25211 W 12:00-12:50 (A. Aizer)
Spr ECON1360 L02 25212 W 7:00-7:50 (A. Aizer)
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ECON 1370. Race and Inequality in the United States.

We examine racial inequality in the United States, focusing on economic, political, social and historical aspects. Topics include urban poverty, employment discrimination, crime and the criminal justice system, affirmative action, immigration, and low wage labor markets. Black/white relations in the US are the principle but not exclusive concern. Prerequisite: ECON 1110 or 1130. Enrollment limited to 25. DPLL

Fall ECON1370 S01 16820 TTh 10:30-11:50(13) (G. Loury)
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ECON 1375. Inequality of Opportunity in the US.

This course examines empirical evidence on inequality of opportunity in the US. We cover recent work in economics that measures the importance of parents, schools, health care, neighborhoods, income, and race in determining children's long-term labor market success, and implications of these findings for US public policy. We will also place the empirical work in historical and philosophical context and cover a variety of statistical issues. Prerequisites: ECON 1110 or 1130; and ECON 1620, 1629, or 1630. Enrollment limited to 30 seniors.

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ECON 1380. Economics and the Law.

This course provides an introduction to the important role played by legal rules for functioning of a market economy, and affecting economic activities. The tools and technique from economics will be used to make prediction about behaviour of individuals under various legal rules. The focus of the course is on the economic analysis of the contract law, the law of torts including accident and product liability laws, the property law including the intellectual property rights and the eminent domain, the litigation and the criminal law. Prerequisite: ECON 1110 or 1130. Enrollment limited to 100.

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ECON 1390. Research Methods for Economists.

This course is designed to prepare students to undertake empirical research in economics. Students thinking of writing an honors thesis or conducting independent research are especially urged to take it during their junior year. We will answer such questions as what does an empirical research paper look like? How do we formulate a hypothesis to test? How can we use data to test our hypothesis? Students will read and discuss papers published in professional journals and perform data analysis as part of the course requirements. Prerequisites: ECON 1110 or 1130; and APMA 1650 or CSCI 1450 or ECON 1620 or 1630.

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ECON 1400. The Economics of Mass Media.

The mass media shape our culture and politics but are also shaped by their economic incentives. In this course we will use tools from microeconomics and econometrics to study the effects of mass media on economic, social and political behavior, and to study the factors that shape media content and availability. We will develop implications for business and public policy. Students will complete weekly readings, bi-weekly assignments, a take-home midterm, and a final paper and presentation. Class time will be devoted to a mix of lecture and discussion of readings and lecture topics. WRIT

Fall ECON1400 S01 15591 TTh 9:00-10:20(08) (J. Shapiro)
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ECON 1410. Urban Economics.

The first part of the course covers the set of conceptual and mathematical models widely used to understand economic activity both between and within cities. The second part of the course examines various urban policy issues including urban transportation, housing, urban poverty, segregation and crime. The course makes extensive use of empirical evidence taken primarily from the United States. Prerequisites: ECON 1110 or 1130; and APMA 1650 or CSCI 1450 or ECON 1620 or 1630. Enrollment limited to 100.

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ECON 1420. Urbanization in China.

Examines urbanization processes and urban public policy in China. Also draws on historical and recent experience in the U.S. Policy areas including policies affecting urbanization, migration, and industrial location; policies affecting housing, land use, and urban reform; and policies affecting fiscal decentralization and infrastructure investments such as transportation. Prerequisites: ECON 1110 or ECON 1130. Open to juniors and seniors. DPLL

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ECON 1430. Population Economics.

An introduction to the economic approach to demography. Applies the theoretical and empirical frameworks of economics to topics such as fertility, migration (both domestic and international), investments in health and human capital, life-cycle labor supply, intergenerational transmission of economic status, the distribution of income and wealth, and the interaction of population growth with the standard of living. Prerequisite: ECON 1110 or 1130.

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ECON 1440. Economic Theories of Firms.

Examines theories of why firms exist, their internal organizations and employment relations, ownership and control, efficiency versus conflict approaches, and alternative organizational forms (e.g., employee ownership). Prerequisite: ECON 1110 or 1130. Enrollment limited to 100.

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ECON 1450. Economic Organizations and Economic Systems.

Positive and normative study of the organizations that comprise and the institutional structures that characterize a modern mixed market economy. Theoretical efficiency and potential limitations of private enterprises and markets including (a) why some market actors are organizations (e.g., companies), (b) effort elicitation problems in organizations, (c) the problem of cooperation in traditional versus behavioral economics, and (d) alternative kinds of organization (including proprietorships, corporations, nonprofits, government agencies). Roles of government, and problems of government failure, including the collective action problem of democracy. State-market balance and contemporary controversies over the economic system in light of the 2008 financial crisis. Enrollment limited to 100 juniors and seniors. Prerequisite: ECON 1110 or 1130.

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ECON 1460. Industrial Organization.

A study of industry structure and firm conduct and its economic/antitrust implications. Theoretical and empirical examinations of strategic firm interactions in oligopolistic markets, dominant firm behaviors, and entry deterrence by incumbents. Also economics of innovation: research and development activities and government patent policies. Prerequisite: ECON 1110 or 1130. Some knowledge of calculus required. Enrollment limited to 100.

Fall ECON1460 S01 16872 MWF 9:00-9:50(01) (G. Siourounis)
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ECON 1465. Market Design: Theory and Applications.

This course studies the design of organized markets, focusing on efficient organization and the incentives created by market rules. The analysis relies on a mix of documenting the rules of real-world markets, game theoretic analysis, empirical analysis, and experimental work. Applications include: online auction markets (e.g., eBay, Amazon); ad auctions (e.g., Google); matching markets, including matching students to schools, matching workers to jobs (e.g., medical residents to hospitals, lawyers to clerkship positions), matching kidney donors to recipients, and online dating. Prerequisites: ECON 1110 or 1130; and MATH 0060, 0070, 0090, 0100, 0170, 0180, 0190, 0200, 0350, or advanced placement; or instructor permission. Enrollment limited to 25 juniors, seniors, and graduate students.

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ECON 1470. Bargaining Theory and Applications.

Bargaining theory is emerging as an important area within the general rubric of game theory. Emphasis is on providing a relatively elementary version of the theory in order to make it accessible to a large number of students. Covers introductory concepts in game theory, strategic and axiomatic theories of bargaining and their connections, applications to competitive markets, strikes, etc. Prerequisite: ECON 1110 or 1130. Enrollment limited to 100.

Fall ECON1470 S01 16284 MWF 1:00-1:50(06) (J. Fanning)
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ECON 1480. Public Economics.

This course is an introduction to the economics of the public sector. We will cover theoretical and empirical tools of public economics and apply these tools to a wide range of issues including externalities, public goods, collective choice, social insurance, redistribution and taxation. The course will focus on questions such as: What should government do? How much should governments insure individuals against misfortune? How much should governments redistribute resources from high-income to low-income households? Throughout the course we will emphasize real-world empirical applications rather than hypothetical examples. DPLL

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ECON 1485. Social Security Reform.

The course looks at the economics of social security reform with particular focus on possible policy responses to the increasing fraction of the population that is elderly in OECD countries. Among the topics that will be considered are pay as you go funding, defined benefits versus defined concentrations, privatization, labor market effects of pensions, retirement decisions, labor supply by couples, and macroeconomic effects. Prerequisite: ECON 1110 or 1130. Enrollment limited to 30. Not open to first-year students. DPLL

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ECON 1486. The Economic Analysis of Political Behavior.

Slow economic growth, controversial policy, and over a decade of continuous war have led many to question the extent to which government is a force for the common good. Blame is often assigned to specific politicians or ideological perspectives. Public choice economics instead analyzes the incentive structure within which political decisions take place, seeking to uncover the forces guiding the behavior of voters, legislators, judges, and other political agents. This course will examine the insights and limitations of the public choice perspective in the context of electoral politics, legislation, bureaucracy and regulation, and constitutional rules. WRIT

Spr ECON1486 S01 25632 W 3:00-5:30(14) (D. D'Amico)
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ECON 1490. Economics of Antitrust: Research and Regulation of Competition.

In this course we learn how economic models and empirical research shape modern competition regulation through Antitrust laws and enforcement. We review famous antitrust cases which involved substantial economic evidence in arguments and decisions. We learn how economics shaped antitrust regulation and competition policy, and we compare and contrast antitrust policy and enforcement across the U.S., the EU and other economies which have adopted similar policies. Students will be required to read cases which include economic analysis using theory and econometrics. Students will be required to participate in class debate, prepare a term paper, and argue a case before class. WRIT

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ECON 1500. Current Global Macroeconomic Challenges.

Analysis of current economic challenges in the U.S., Europe, Japan, and China. Topics include fiscal and monetary policies, international trade, capital flows and exchange rate policy, and policies for long-run growth. Emphasis on macroeconomic policies in the individual nations and their interaction with each other. Prerequisites: ECON 1210. Also recommended: ECON 1550 and 1850. Enrollment limited to 100.

Fall ECON1500 S01 16369 TTh 9:00-10:20(08) (D. Wyss)
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ECON 1510. Economic Development.

This course is an introduction to development economics and related policy questions. It discusses the measurement of poverty and inequality; growth; population change; health and education; resource allocation and gender; land and agriculture; and credit, insurance, and savings. The course provides a theoretical framework for the economic analysis of specific problems associated with developing economies, and introduces empirical methods used to evaluate policies aimed at solving these problems. By the end of the class, students will be able to discuss some of the “hot topics” in development, like microfinance, family planning, or the problem of “missing women” in South-East Asia. DPLL

Spr ECON1510 S01 25221 TTh 10:30-11:50(09) (A. Sautmann)
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ECON 1520. The Economic Analysis of Institutions.

This course deals with the economic analysis of institutions, with a focus on developing countries. The first section covers institutions in traditional agrarian societies. Topics include consumption smoothing and the organization of land, labor and credit markets. The second section focuses on the role of the community in faciliating economic activity. Institutions include cooperatives, networks, marriage and the family. Prerequisites: ECON 1110 or 1130; and APMA 1650 or ECON 1620 or 1630; or equivalent. Enrollment limited to 45. DPLL

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ECON 1525. Privatization of State Owned Enterprises.

After world war II, many westren economies (foremost the U.K and france) nationalized major industries, including the infrastructure sector ( e.g. Electricity, Telecommunication and Rail. Thirty years later, due to miserable performance, an apposite trend started to shift ownership of state owned enterprises (SOE) to private ownership.

We shall discuss the folowing major topics:

The Record on Performance and Reform of State-Owned Enterprises
The Rationale for and problems of Public Ownership
Privatization of /natural Monopolies: Theory and Evidence Regulation: Structure and Methods
Deregulation and Competition Policy
Labor and Privatization
Methods of Privatization: Auctions, Share Flotations, Concessions and Strategic Investors

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ECON 1530. Health, Hunger and the Household in Developing Countries.

Microeconomic analysis of household behavior in low income societies emphasizing the economic determinants of health and nutrition and the evaluation of policy. The relationship among health, nutrition, fertility, savings, schooling, labor productivity, wage determination, and gender-based inequality. Emphasizes theoretically-based empirical research. Enrollment limited to 30. WRIT DPLL

Fall ECON1530 S01 16361 W 3:00-5:30(17) (A. Foster)
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ECON 1540. International Trade.

Theory of comparative advantage, trade, and income distribution. Welfare analysis of trade: gains from trade, evaluation of the effects of trade policy instruments-tariffs, quotas, and subsidies. Trade under imperfect competition. Strategic trade policy. Trade, labor markets, preferential trade agreements, and the world trading systems. Prerequisite: ECON 1110 or 1130. Enrollment limited to 100.

Fall ECON1540 S01 15597 MW 8:30-9:50(01) (J. Blaum)
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ECON 1550. International Finance.

The balance of payments; identification and measurement of surpluses and deficits; international monetary standards; the role of gold and paper money; government policies; free versus fixed exchange rates; international capital movements; war and inflation; the International Monetary Fund. Prerequisite: ECON 1210. Enrollment limited to 100.

Spr ECON1550 S01 25228 MWF 2:00-2:50(07) (G. Siourounis)
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ECON 1560. Economic Growth.

A theoretical and empirical examination of economic growth and income differences among countries. Focuses on both the historical experience of countries that are currently rich and the process of catch-up among poor countries. Topics include population growth, accumulation of physical and human capital, technological change, natural resources, income distribution, geography, government, and culture. Prerequisite: ECON 1110 or 1130; and MATH 0060, 0070, 0090, 0100, 0170, 0180, 0190, 0200 or 0350; or advanced placement. Enrollment limited to 100.

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ECON 1565. Income Inequality.

This course examines the macroeconomic dimensions of income inequality. How much of national income is paid to capital and how much to labor? What determines the gap in wages between workers with different skill levels, as well as variation in wages within skill groups? How have changes in technology, openness to trade, government policy, and the quantities of factors of production contributed to changes in these relative returns? What determines the aggregate quantities of different factors of production as well as their distribution among individuals? How does inequality feed back to affect macroeconomic stability and long term growth?

Spr ECON1565 S01 25633 F 3:00-5:30(15) (D. Weil)
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ECON 1570. The Economics of Latin Americans.

This course introduces students to the economic study of Latin Americans (both in the US and abroad). Topics include the determinants of economic development, institutions and growth, imperialism, conflict, immigration and discrimination.

Spr ECON1570 S01 26086 TTh 9:00-10:20(08) (P. Dal Bo)
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ECON 1580. Comparative Economic Systems.

Recent histories, institutional structures, and performance of industrialized economies of the U.S., Europe and Asia. The Marxian critique of capitalism; the theory of centrally planned economies; the Soviet economy; and problems of reform and transition. Workers' self-management as an alternative industrial order. Prerequisite: EC 111 or 113.

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ECON 1590. The Economy of China since 1949.

This course examines the organization, structure, and performance of the economy of mainland China, with a focus on urban and regional development. The course analyzes the changing economic system including the roles of planning and markets and government economic strategy and policies. The pre-reform period (1949-78) receives attention in its own right, but especially as it influences developments in the market-oriented reform period since 1978. Topics covered include rural and urban development, industrialization and FDI, housing and land markets, rural-urban migration, income inequality and growth, and the evolving spatial structure of cities. Both analytical and descriptive methods are used. Prerequisite: ECON 1110 or 1130. ECON 1210 and 1410 are helpful but not required. Enrollment limited to 100. DPLL

Spr ECON1590 S01 25637 TTh 1:00-2:20(10) (L. Putterman)
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ECON 1600. Economics of the Middle East.

A survey of the economies of the Middle East. Examines various aspects of the economic realities of the region, including economic and human development, water and food security, the economics and politics of oil, population growth and labor mobility, education, the role of the state, economic reform, the political economy of conflict and peace, and the prospects for regional integration. Prerequisite: ECON 1110 or 1130. Enrollment limited to 100.

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ECON 1620. Introduction to Econometrics.

Probability and statistical inference. Estimation and hypothesis testing. Simple and multiple regression analysis. Applications emphasized. Prerequisite: ECON 0110 or advanced placement, or ECON 1110 or 1130, and Math 0090. Weekly one-hour computer conference required.

Fall ECON1620 S01 15047 TTh 10:30-11:50(13) (A. McCloskey)
Fall ECON1620 L01 15048 T 12:00-12:50 (A. McCloskey)
Fall ECON1620 L02 15049 Th 12:00-12:50 (A. McCloskey)
Fall ECON1620 L03 15050 M 12:00-12:50 (A. McCloskey)
Fall ECON1620 L04 15051 W 6:00-6:50 (A. McCloskey)
Fall ECON1620 L05 15052 M 6:00-6:50 (A. McCloskey)
Fall ECON1620 L06 15053 F 3:00-3:50 (A. McCloskey)
Spr ECON1620 S01 24355 TTh 1:00-2:20(10) (B. Knight)
Spr ECON1620 L01 24356 F 3:00-3:50 (B. Knight)
Spr ECON1620 L02 24357 M 6:00-6:50 (B. Knight)
Spr ECON1620 L03 24358 W 6:00-6:50 (B. Knight)
Spr ECON1620 L04 24359 T 12:00-12:50 (B. Knight)
Spr ECON1620 L05 24360 Th 12:00-12:50 (B. Knight)
Spr ECON1620 L06 24361 M 12:00-12:50 (B. Knight)
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ECON 1629. Applied Research Methods for Economists.

This class will cover the basics of applied research in economics. We will cover how we use economic theory to formulate a hypothesis to test and how we use data to test our hypothesis. As part of the coursework, students will be exposed to topics across multiple fields of applied economic research (eg, health, labor, political economy, urban economics, development, etc) that can be explored in greater detail in more advanced classes.

Students will read and discuss papers published in professional journals and perform data analysis as part of the course requirements. Prerequisites: ECON 1110 or 1130; and ECON 1620 or 1630.

Fall ECON1629 S01 15054 MW 3:00-4:20(17) (D. Brenner)
Fall ECON1629 L01 15055 M 7:00-7:50 (D. Brenner)
Fall ECON1629 L02 15056 F 12:00-12:50 (D. Brenner)
Fall ECON1629 L03 15057 M 5:00-5:50 (D. Brenner)
Fall ECON1629 L04 16315 T 7:00-7:50 (D. Brenner)
Fall ECON1629 L05 17101 W 7:00-7:50 (D. Brenner)
Spr ECON1629 S01 24362 MW 3:00-4:20(14) (A. Aizer)
Spr ECON1629 L01 24363 W 12:00-12:50 (A. Aizer)
Spr ECON1629 L02 24364 M 7:00-7:50 (A. Aizer)
Spr ECON1629 L03 24365 Th 7:00-7:50 (A. Aizer)
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ECON 1630. Econometrics I.

Advanced introduction to econometrics with applications in finance and economics. How to formulate and test economic questions of interest. The multivariate linear regression model is treated in detail, including tests of the model's underlying assumptions. Other topics include: asymptotic analysis, instrumental variable estimation, and likelihood analysis. Convergence concepts and matrix algebra are used extensively. Prerequisites: ECON 0110 or advanced placement; and ECON 1110 or 1130; and APMA 1650 or CSCI 1450, MATH 1620, or ECON 1620; or equivalent.

Fall ECON1630 S01 15058 TTh 1:00-2:20(10) (S. Schennach)
Spr ECON1630 S01 24375 TTh 2:30-3:50(11) (A. Norets)
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ECON 1640. Econometrics II.

Continuation of ECON 1630 with an emphasis on econometric modeling and applications. Includes applied topics from labor, finance, and macroeconomics. Prerequisite: ECON 1630. Enrollment limited to 100.

Spr ECON1640 S01 25194 TTh 10:30-11:50(09) (A. McCloskey)
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ECON 1650. Financial Econometrics.

Financial time series, for example, asset returns, options and interest rates, possess a number of stylized features that are analyzed using a specific set of econometric models. This course deals with an introduction to such models. It discusses time series models for analyzing asset returns and interest rates, (GARCH) models to explain volatility, models to explain extreme events which are used for the Value at Risk and models for options prices. Prerequisite: ECON 1630 or instructor permission. Enrollment limited to 100.

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ECON 1660. Big Data.

The spread of information technology has lead to the generation of vast amounts of data on human behavior. This course explores ways to use this data to better understand the societies in which we live. The course weaves together methods from machine learning (OLS, LASSO, trees) and economics (reduced form causal inference, economic theory, structural modeling) to answer real world questions in a sequence of projects. We will use these projects as a backdrop to weigh the importance of causality, precision, and computational efficiency. Knowledge of basic econometrics and programming is assumed.

Spr ECON1660 S01 25634 T 4:00-6:30(16) (D. Bjorkegren)
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ECON 1710. Investments I.

The function and operation of asset markets; the determinants of the prices of stocks, bonds, options, and futures; the relations between risk, return, and investment management; the capital asset pricing model, normative portfolio management, and market efficiency. Prerequisite: ECON 1110 or 1130; and ECON 1620 or 1630 or APMA 1650 or CSCI 1450.

Fall ECON1710 S01 15060 MWF 11:00-11:50(18) (S. Kuo)
Fall ECON1710 S02 15061 MWF 1:00-1:50(18) (S. Kuo)
Spr ECON1710 S01 24404 MWF 11:00-11:50(04) (S. Kuo)
Spr ECON1710 S02 24405 MWF 1:00-1:50(06) (S. Kuo)
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ECON 1720. Corporate Finance.

A study of theories of decision-making within corporations, with empirical evidence as background. Topics include capital budgeting, risk, securities issuance, capital structure, dividend policy, compensation policy, mergers and acquisitions, real options, financial engineering, securitization. Prerequisite: ECON 1110 or 1130; and ECON 1620 or 1630 or APMA 1650 or CSCI 1450; ECON 1710.

Fall ECON1720 S01 15602 MWF 12:00-12:50(12) (D. Brenner)
Spr ECON1720 S01 24406 MWF 11:00-11:50(04) (D. Brenner)
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ECON 1730. Entrepreneurial Finance and Venture Capital.

This course will use a combination of lectures and case discussions to prepare students to make decisions, both as entrepreneurs and venture capitalists, regarding the financing of rapidly growing firms. The course will focus on the following five areas:
1. Business valuation
2. Financing
3. Venture Capital Industry
4. Employment
5. Exit

Fall ECON1730 S01 17033 TTh 9:00-10:20(08) (R. La Porta)
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ECON 1740. Mathematical Finance.

The course is an introduction to both the economics and the mathematics of finance. Concentrating on the probabilistic theory of continuous arbitrage pricing of financial derivatives, it provides full treatment of Black-Scholes option pricing and its extensions to the case of stochastic volatility and VIX derivatives. More generally, the techniques of change of measure and risk-neutralization are extensively studied, including in the context of fixed-income securities. Finally, implications for financial econometrics (stochastic volatility processes, models of stochastic discount factors) are briefly discussed.

Spr ECON1740 S01 25726 TTh 2:30-3:50(11) (E. Renault)
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ECON 1750. Investments II.

Individual securities: forwards, futures, options and basic derivatives, pricing conditions. Financial markets: main empirical features, equity premium and risk-free rate puzzles, consumption based asset pricing models, stock market participation, international diversification, and topics in behavioral finance. Prerequisites: ECON 1110 or 1130; ECON 1620 or 1630 or APMA 1650 or CSCI 1450; ECON 1710. Enrollment limited to 100.

Fall ECON1750 S01 16374 MWF 11:00-11:50(02) (K. Rozen)
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ECON 1759. Data, Statistics, Finance.

An experimental course that prepares students for research of the type conducted in academic finance, hedge funds, and some advanced consulting firms and I-Banks. Nothing like this is offered at any other university as far as the instructor knows. Students that do well in this course should have a head start in academic finance PhD programs, as well as in MBA programs, quantitatively oriented investment funds, finance companies, and consulting firms. Prerequisites: ECON 1110 or 1130; and ECON 1620 or 1630 or APMA 1650. CSCI0040 or equivalent also recommended as background. Enrollment limited to 20. S/NC

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ECON 1760. Financial Institutions.

This course analyzes the role of financial institutions in allocating resources, managing risk, and exerting corporate governance over firms. After studying interest rate determination, the risk and term structure of interest rates, derivatives, and the role of central banks, it takes an international perspective in examining the emergence, operation, and regulation of financial institutions, especially banks. Prerequisites: ECON 1110 or 1130; and 1210. Enrollment limited to 100.

Fall ECON1760 S01 16368 TTh 2:30-3:50(03) (D. Wyss)
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ECON 1765. Finance, Regulation, and the Economy: Research.

Analyzes the role of financial markets and institutions in allocating resources and exerting governance over firms, how regulation shapes finance, and how finance influences the enactment and impact of financial regulation. The class will use: economic theory to develop a solid conceptual framework for understanding how finance affects economic growth, income distribution, and stability; empirical evidence to assess theory; and history to put the role of finance into a long-term framework. Current events will be continuously used to keep the class relevant. Prerequisites: ECON 1110 or 1130; and ECON 1210; and ECON 1630; and ECON 1720 or 1760. Enrollment limited to 30 senior concentrators in Economics, BEO, Applied Math-Economics, Computer Science-Economics, and Math-Economics.

Fall ECON1765 S01 16371 Th 4:00-6:30(04) (T. Nguyen)
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ECON 1770. Fixed Income Securities.

The fixed income market is much larger than the stock market in the U.S. Topics covered in this course include basic fixed income securities, term structure, hedging interest rate risk, investment strategies, fixed income derivatives, mortgage-backed securities and asset-backed securities. Prerequisite: ECON 1110 or 1130; and ECON 1620 or 1630 or APMA 1650 or CSCI 1450; and ECON 1710 or 1720. Enrollment limited to 100.

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ECON 1780. Corporate Strategy.

This course teaches analysis of strategic decisions facing an organization. We cover traditional strategy topics such as capabilities and sustainability as well as modern game theory models of competition. A central integrating idea is anticipating the response of other actors in the economy and recognizing that often an organization's profits depend on the actions of other firms. Prerequisites: ECON 1110 or 1130; and APMA 1650 or ECON 1620 or 1630; and ECON 1720.

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ECON 1790. Corporate Governance and Management.

A corporation's economic success depends on access to human capital and other resources, effective management of these resources, and a governance system that ensures effective decision making. The course offers policy prescriptions in economic incentives and regulatory rules that attempt to align management with investors. Prerequisites: ECON 1110 or 1130; and ECON 1620 or 1630 or APMA 1650 or CSCI 1450; and ECON 1720; and ECON 0710. Enrollment limited to 40.

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ECON 1800. Politics and Finance.

This course examines how legislation and regulation influences the structure of financial markets and how players in these markets intervene in the political process to create or modify legislative and, regulatory outcomes. Particular emphasis will be placed on the environment in the United States. International comparisons will also be present. Prerequisites: ECON 1110 or 1130; and ECON 1770. Enrollment limited to 30.

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ECON 1810. Economics and Psychology.

This course is about the challenges that economic theorists face in their quest for economic models in which decision makers have a "richer psychology" than prescribed by textbook models. The enrichment takes two forms: (i) broadening the set of considerations that affect decision makers' behavior beyond simple, material self-interest; (ii) relaxing the standard assumption that agents have unlimited ability to perceive and analyze economic environments, and that they reason about uncertainty as "Bayesian statisticians". Special emphasis will be put on the implications of "psychologically richer" models on market behavior. Prerequisite: ECON 1110 or 1130; and MATH 0100 or 0170 or 0180 or 0190 or 0200 or 0350 or advanced placement; and ECON 1620 or 1630 or APMA 1650 or MATH 1610. Enrollment limited to 100.

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ECON 1820. Behavioral Economics.

This course provides a grounding in the main areas of study within behavioral economics, including temptation and self control, fairness and reciprocity, reference dependence, bounded rationality, happiness and neuroeconomics. For each area of study we begin with the standard model of rational decision making, and discuss what behavior this model can explain. We then discuss the experimental evidence that indicates that the standard model is missing something important, and the models that have sprung up to account for these violations. Finally, we will look at the implications of these new models for our understanding of how the economy operates.

Fall ECON1820 S01 16395 MWF 2:00-2:50(07) (G. De Clippel)
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ECON 1850. Theory of Economic Growth.

Analysis of the fundamental elements that determine economic growth. It examines the role of technological progress, population growth, income inequality, and government policy in the determination of (a) the pattern of economic development within a country, and (b) sustainable differences in per capita income and growth rates across countries. Prerequisites: ECON 1210 and either APMA 0330, 0350 (or equivalent), MATH 0180, 0200, or 0350 (or equivalent). Enrollment limited to 100.

Fall ECON1850 S01 16365 F 3:00-5:30(11) (O. Galor)
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ECON 1860. The Theory of General Equilibrium.

Existence and efficiency of equilibria for a competitive economy; comparative statistics; time and uncertainty. Prerequisite: ECON 1110 or 1130. Enrollment limited to 100.

Spr ECON1860 S01 25114 TTh 10:30-11:50(09) (R. Vohra)
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ECON 1870. Game Theory and Applications to Economics.

Study of the elements of the theory of games. Non-cooperative games. Repeated games. Cooperative games. Applications include bargaining and oligopoly theory. Prerequisites: ECON 1110 or 1130; and MATH 0100, or 0170, or 0180, or 0190, or 0200, 0350, or advanced placement; and ECON 1620 or 1630 or APMA 1650 or CSCI 1450, or MATH 1610. Enrollment limited to 100.

Spr ECON1870 S01 25115 MWF 11:00-11:50(04) (G. De Clippel)
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ECON 1880. Introduction to Two-Sided Matching Markets.

First, we will discuss the several elements that characterize a two-sided matching market and will model several of these markets under the game-theoretic approach. Then, we will introduce the theory of stable matching model by focusing on both the cooperative and non-cooperative aspects of the one-to-one matching markets. Prerequisites: ECON 1110 or 1130; and ECON 1870.

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ECON 1940. Current Economic Research: Undergraduate Seminar.

The purpose of this seminar is to bring to the undergraduates concentrating in economics, applied math-economics, mathematical economics and computer science-economics a taste of the first-rate research that is being done in the economics department at Brown. Prerequisites: ECON 1110 or 1130; ECON 1210; ECON 1620 or APMA 1650 or CSCI 1450 or MATH 1610 or 1620; ECON 1629 or 1630. Enrollment limited to 30.

Note this course does not count toward Economics concentration credit.

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ECON 1960. Honors Tutorial for Economics Majors.

Students intending to write an honors thesis in economics must register for this class. The goal is to help students with the process of identifying and defining feasible topics, investigating relevant background literature, framing hypotheses, and planning the structure of their thesis. Each student must find a thesis advisor with interests related to their topic and plan to enroll in ECON 1970 during the final semester of senior year.

Note this course does not count toward Economics concentration credit.

Fall ECON1960 S01 16341 W 3:00-5:30(17) (K. Chay)
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ECON 1970. Independent Research.

Section numbers vary by instructor. Please check Banner for the correct section number and CRN to use when registering for this course.

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ECON 1994. Senior Thesis and Independent Research in Finance and Applied Economics.

An opportunity for seniors in economics to pursue a research project in the areas of applied economics and finance, broadly defined, within the context of a discussion group. Students writing honors theses may register for this course both fall and spring. Students pursuing one-semester research projects may register either fall or spring. Open only to seniors in an Economics concentration.

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ECON 1995. Senior Thesis and Independent Research in Finance and Applied Economics.

An opportunity for seniors in economics to pursue a research project in the areas of Applied Economics and finance, broadly defined, within the context of a discussion group. Students writing honors theses may register for this course both fall and spring. Students pursuing one-semester research projects may register either fall or spring. Open only to seniors in an Economics concentration.

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ECON 2010. Mathematics for Economists.

Techniques of mathematical analysis useful in economic theory and econometrics. Linear algebra, constrained maximization, difference and differential equations, calculus of variations.

Fall ECON2010 S01 15062 MW 1:00-2:20(06) (P. Dal Bo)
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ECON 2020. Applied Economics Analysis.

This course provides students with skills needed to integrate economic theory, econometric methods, and data management in the analysis of economic problems. Provides a hands-on perspective including assignments designed to derive testable propositions from simple economic models, illustrate the loading, cleaning and merging of complex survey data, and provide experience in the selection and interpretation of basic econometric methods.

Spr ECON2020 S01 24370 TTh 1:00-2:20(10) (A. Sautmann)
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ECON 2030. Introduction to Econometrics I.

The probabilistic and statistical basis of inference in econometrics.

Fall ECON2030 S01 15064 MW 10:30-11:50(14) (E. Renault)
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ECON 2040. Econometric Methods.

Applications of mathematical statistics in economics. The nature of economic observations, cross-section and time series analysis, the analysis of variance and regression analysis, problems of estimation.

Spr ECON2040 S01 24371 TTh 10:30-11:50(09) (A. Norets)
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ECON 2050. Microeconomics I.

Decision theory: consumer's and producer's theory; general competitive equilibrium and welfare economics: the Arrow-Debreu-McKenzie model; social choice and implementation.

Fall ECON2050 S01 15070 TTh 1:00-2:20(10) (R. Vohra)
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ECON 2060. Microeconomics II.

Economics of imperfect information: expected utility, risk and risk aversion, optimization under uncertainty, moral hazard, and self-selection problems. Economics of imperfect competition: monopoly; price discrimination; monopolistic competition; market structure in single shot, repeated and stage games; and vertical differentiation.

Spr ECON2060 S01 24372 MW 1:00-2:20(06) (K. Rozen)
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ECON 2070. Macroeconomics I.

Consumption and saving, under both certainty and uncertainty; theory of economic growth; real business cycles; investment; and asset pricing.

Fall ECON2070 S01 15071 TTh 10:30-11:50(13) (O. Galor)
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ECON 2080. Macroeconomics II.

Money, inflation, economic fluctuations and nominal rigidities, monetary and fiscal policy, investment, unemployment, and search and coordination failure.

Spr ECON2080 S01 24373 MW 10:30-11:50(03) (G. Eggertsson)
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ECON 2090. Topics in Microeconomics: Decision Theory and Evidence.

Decision theory is the use of axiomatic techniques to understand the observable implications of models of choice. It is central to the incorporation of psychological insights into economics, and provides a vital link between theory and experimental economics. This course covers standard economic models of choice in different domains - choice under risk, choice under uncertainty and intertemporal choice. It looks at key topics from behavioral economics: choice with incomplete information, reference dependent preferences, temptation and self control, the Allais paradox, ambiguity aversion and neuroeconomics. In each case it relates the predictions of theory to experimental data on behavior.

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ECON 2130. Topics in Monetary Economics.

Business cycle analysis with an emphasis on heterogeneous-agent economics and the interaction between business cycles and economic growth.

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ECON 2160. Risk, Uncertainty, and Information.

Advanced topics in the theories of risk, uncertainty and information, including the following: Decision making under uncertainty: expected and non-expected utility, measures of risk aversion, stochastic dominance. Models with a small number of agents: optimal risk-sharing, the principal-agent paradigm, contracts. Models with a large number of agents: asymmetric information in centralized and decentralized markets. Implementation theory.

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ECON 2180. Game Theory.

Non-cooperative games, dominance, Nash equilibrium, refinements. Cooperative games, core, bargaining set, equilibrium in normal form games. Implementation. Repeated games.

Fall ECON2180 S01 16285 MW 9:00-10:20(01) (J. Fanning)
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ECON 2190A. Cooperative Game Theory.

No description available.

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ECON 2190B. General Equilibrium Theory.

No description available.

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ECON 2190C. Topics in Economic Theory.

No description available.

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ECON 2190D. Topics on Game Theory.

First, we will discuss the several elements that characterize a two-sided matching market and the concept of setwise-stability versus core. Then,we will model several of these markets (one-to-one, many-to-one and many-to-many, in the discrete and continuous cases) under the game-theoretic approach and will define for all of them the stability concept, establishing its relationship with the core and the competitive equilibrium concepts. Afterwards, we will introduce the theory of stable matching model by focusing on both the cooperative and non-cooperative aspects of the one-to-one matching markets.

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ECON 2190E. Topics in Economics: Economics and Psychology.

This course is about the challenges that economic theorists face in their quest for economic models in which decision makers have a "richer psychology" than prescribed by textbook models. The enrichment takes two forms: (i) broadening the set of considerations that affect decision makers' behavior beyond simple, material self-interest; (ii) relaxing the standard assumption that agents have unlimited ability to perceive and analyze economic environments, and that they reason about uncertainty as "Bayesian statisticians". Special emphasis will be put on the implications of "psychologically richer" models on market behavior.

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ECON 2210. Political Economy I.

An introduction to political economy, focusing especially on the political economy of institutions and development. Its purpose is to give a good command of the basic tools of the area and to introduce at least some of the frontier research topics. The readings will be approximately evenly divided between theoretical and empirical approaches.

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ECON 2260. Political Economy I.

This first course in political economy provides theoretical and empirical coverage of the application of economic analysis to political behavior and institutions. This course is designed for students wishing to specialize in political economy but may also be useful for students specializing in related areas, such as development economics and macroeconomics. After starting with a basic overview of candidates and voters, we then turn to specific topics in the areas of electoral systems, legislatures and legislative bargaining, the role of the media, local public finance, and fiscal federalism.

Fall ECON2260 S01 16802 TTh 1:00-2:20(10) (B. Knight)
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ECON 2320. Economics of Labor and Population.

This course examines identification issues in empirical microeconomics. Focus on the sensible application of econometric methods to empirical problems in economics and policy research -- particularly labor and population economics. The course examines issues that arise when analyzing non-experimental data and provides a guide for tools that are useful for applied research. The course also emphasizes how a basic understanding of theory and institutions can help inform the analysis. By the end of the course, students should have a firm grasp of the types of research designs and methods that can lead to convincing analysis and be comfortable working with large-scale data sets.

Fall ECON2320 S01 15596 TTh 9:00-10:20(08) (E. Oster)
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ECON 2330. Topics in Labor Economics.

The course introduces students to procedures used to extract evidence from data and to perform rigorous causal inference in order to evaluate public policy on issues such as schooling, the return to education and returns on late intervention programs. Econometric methods, such as Instrumental Variable, Matching, Control Functions, Self Selection Models and Discrete Choice as well as Panel Data Methods, are discussed in detail.

Spr ECON2330 S01 25205 F 9:30-12:00(02) (K. Chay)
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ECON 2360. Economics of Health and Population.

An introduction to current research in the economics of health and population. Focuses on studies of empirically-tractable and tested models of individual, household, and firm behaviors and how these behaviors interact through markets and other institutions. Among the subjects considered are the economics of fertility and marriage, the operation of the health services sector, and the implications of population aging.

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ECON 2370. Inequality: Theory and Evidence.

This course uses economic theory to study the problems of inequality. The emphasis is two-fold: (1) to explain persistent resource disparities between individuals or social groups; and, (2) to assess the welfare effects of various equality-promoting policies. Topics include racial stereotypes, residential segregation, distributive justice, incentive effects of preferential policies, dysfunctional identity, and endogenous inequality due to the structure of production and exchange.

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ECON 2410. Urbanization.

The first part of the course covers social interactions, productivity spillovers, systems of cities models, urban growth, and rural-urban migration. The second part of the course covers topics such as durable housing, land market regulation and exclusion, and local political economy. Besides covering basic theoretical models, emphasis is placed on working through recent empirical papers on both the USA and developing countries. Prerequisites: ECON 2050 and 2060.

Spr ECON2410 S01 25207 TTh 9:00-10:20(08) (M. Turner)
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ECON 2420. The Structure of Cities.

This course covers standard urban land use theory, urban transportation, sorting across political jurisdictions, hedonics, housing, segregation and crime. Empirical examples are taken primarily from the United States. After taking the course, students will have an understanding of standard urban theory and of empirical evidence on various important applied urban topics. In addition, students will gain practical experience in manipulating spatial data sets and simulating urban models.

Course usage information

ECON 2450. Exchange Scholar Program.

Fall ECON2450 S01 14722 Arranged 'To Be Arranged'
Spr ECON2450 S01 23817 Arranged 'To Be Arranged'
Course usage information

ECON 2470. Industrial Organization.

The focus of this course will be on empirical models for understanding the interactions between firms and consumers in imperfectly competitive markets. Lectures and problem sets will teach canonical models and methods; class discussion will focus on applications of these methods, especially applications outside of traditional areas of industrial organization. Students who take this class will be prepared to conduct research in industrial organization or to "export" methods from industrial organization to other areas of applied microeconomics.

Spr ECON2470 S01 24377 F 1:00-3:30(06) (J. Shapiro)
Course usage information

ECON 2480. Public Economics.

Theoretical and empirical analysis of the role of government in private economies. Topics include welfare economics, public goods, externalities, income redistribution, tax revenues, public choice, and fiscal federalism.

Course usage information

ECON 2485. Public Economics I.

This course covers core issues in the design of optimal government policies, and the empirical analysis of those policies in the world. In addition, this course will familiarize students with the basic empirical methods and theoretical models in applied microeconomics. Emphasis is placed on connecting theory to data to inform economic policy. Specific topics include efficiency costs and incidence of taxation, income and corporate taxation, optimal tax theory, tax expenditures and tax-based transfer programs, welfare analysis in behavioral models, and social security and retirement policy.

Fall ECON2485 S01 15589 TTh 10:30-11:50(13) (J. Friedman)
Course usage information

ECON 2490. Public Finance II.

This course examines empirical work on (1) individual taxation and (2) human capital production. The goal of the course will be to provide graduate students with an overview of recent empirical methods and findings in these areas, and to identify promising research questions for their own work.

Course usage information

ECON 2510. Economic Development I.

This course covers issues related to labor, land, and natural resource markets in developing countries, in partial and general equilibrium settings. Topics covered include: The agricultural household model, under complete and incomplete market assumptions; household and individual labor supply, migration, self-employment, and the informal sector; rental market frictions and sharecropping arrangements; and environmental externalities (e.g., pollution, water usage, etc.), and sustainable development.

Fall ECON2510 S01 15583 MW 10:30-11:50(14) (A. Sautmann)
Course usage information

ECON 2520. Economic Development II.

This course deals with the economic analysis of institutions, with a particular focus on community-based institutions in developing countries. Institutions covered in this course includes cooperatives, ROSCAS, networks, marriage and the family.

Spr ECON2520 S01 24374 TTh 1:00-2:20(10) (D. Bjorkegren)
Course usage information

ECON 2530. Behavioral and Experimental Economics.

An introduction to the methodology of experimental economics with an emphasis on experiments designed to illuminate problems in organizational design and emergence of institutions, and experiments investigating the operation of social and social-psychological elements of preference such as altruism, inequality aversion, reciprocity, trust, concern for relative standing, envy, and willingness to punish norm violators. Experiments studied will include ones based on the prisoners' dilemma, dictator game, ultimatum game, and especially the voluntary contribution mechanism (public goods game) and the trust game.

Fall ECON2530 S01 16347 TTh 2:30-3:50(03) (L. Putterman)
Course usage information

ECON 2580. International Trade.

General equilibrium analysis of the theory of international trade and trade policy under perfect competition; trade under imperfect competition; strategic trade policy; trade and growth; and the political economy of trade policy determination. Empirical analysis of trade theories and policy. Additional topics include the theory of preferential trading areas, trade and labor, and the analytics of trade policy reform.

Course usage information

ECON 2590. Topics in International Economics.

Advanced theoretical and empirical research topics in international economics emphasizing positive and normative analysis of trade, trade policy and international trading agreements, policy reform and stabilization, exchange rate determination, sovereign debt and currency crises and optimum currency areas.

Course usage information

ECON 2600. Bayesian and Structural Econometrics.

This course will cover a number of topics in Bayesian econometrics and estimation of structural dynamic discrete choice models. The Bayesian econometrics part of the course will start with introductory textbook material (Geweke, 2005, Contemporary Bayesian Econometrics and Statistics, denoted by G). A list of 11 topics with corresponding readings is given below. Topics 1-5 will be covered. If time permits, a subset of topics 6-11 determined by interests of the course participants will be covered as well. Readings marked with asterisk * are not required.

Fall ECON2600 S01 16376 MW 2:30-3:50(07) (A. Norets)
Course usage information

ECON 2610. Applied Econometrics.

Topics in applied econometrics. Both cross-sectional and time series issues will be discussed. Special emphasis will be placed on the link between econometric theory and empirical work.

Course usage information

ECON 2630. Econometric Theory.

Standard and generalized linear models, simultaneous equations, maximum likelihood, Bayesian inference, panel data, nonlinear models, asymptotic theory, discrete choice, and limited dependent variable models.

Fall ECON2630 S01 16340 TTh 2:30-3:50(03) (S. Schennach)
Course usage information

ECON 2640. Microeconometrics.

Topics in microeconometrics treated from a modern Bayesian perspective. Limited and qualitative dependent variables, selectivity bias, duration models, panel data.

Course usage information

ECON 2660. Recent Advances in the Generalized Method of Moments.

Method of Moments (GMM) and Empirical Likelihood (EL). Kernel methods for density and regression estimation. Optimal instruments and local EL. Applications to non-linear time series models, Euler equations and asset pricing.

Spr ECON2660 S01 24380 MW 10:30-11:50(03) (E. Renault)
Course usage information

ECON 2820. Discrete Dynamical Systems and Applicaton to Intertemporal Economics.

This course will focus on the qualitative analysis of discrete dynamical systems and their application for Intertemporal Economics.

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ECON 2830. Dynamic Optimization and Economic Growth.

The role of human capital, income distribution, population growth, technological progress, and international trade in the determination of differences in growth performance across countries. Inequality and economic growth. Technological progress and wage inequality. The transition from stagnation to sustained growth. Evolution and growth.

Fall ECON2830 S01 16364 F 9:30-12:00(01) (O. Galor)
Course usage information

ECON 2840. Empirical Analysis of Economic Growth.

Examines economic growth, focusing on the effects of technological change, fertility, income inequality, and government policy. ECON 2830 is strongly recommended.

Course usage information

ECON 2850. Theory of Innovation-Based Growth.

Issues concerning innovation-based growth theory, including scale effects and effects of research and development versus capital accumulation. Interactions between growth and phenomena such as fluctuations, unemployment, natural resources, competition, regulation, patent policy, and international trade.

Course usage information

ECON 2860. Comparative Development.

Weighing the shadow of history on contemporary economic performance occupies an increasing part of the agenda among growth and development economists. This course will focus on recent contributions in the literature of the historical determinants of comparative development paying particular attention on how to integrate the use of Geographic Information Systems (GIS) in the research inquiry. The goal is to get you thinking about the big historical processes that have shaped the modern world. We will go over background concepts, critically review recent works and talk about new research designs, like that of spatial regression discontinuity.

Spr ECON2860 S01 25635 M 2:30-5:00(13) (S. Michalopoulos)
Course usage information

ECON 2890A. Topics in Macroeconomics, Development and Trade.

This is a graduate class that covers selected topics at the intersection of macroeconomics, economic development and trade, for students in the second year of the PhD and above. The leading theme of the class is the determinants of the observed cross-country differences in income per capita and growth rates, with a focus on the long run. We start by reviewing theories where factor markets function perfectly and only aggregates matter. We then move to non-aggregative theories, placing special emphasis on theories of financial frictions. We spend some time studying the stochastic growth model with partially uninsurable idiosyncratic risk.

Course usage information

ECON 2890D. Topics in Macroeconomics, Development and Trade.

This is a graduate class that covers selected topics at the intersection of macroeconomics, economic development and trade, for students in the second year of the PhD and above. The leading theme of the class is the determinants of the observed cross-country differences in income per capita and growth rates, with a focus on the long run. We start by reviewing theories where factor markets function perfectly and only aggregates matter. We then move to non-aggregative theories, placing special emphasis on theories of financial frictions. We spend some time studying the stochastic growth model with partially uninsurable idiosyncratic risk.

Fall ECON2890D S01 17197 MW 1:00-2:20(07) (J. Blaum)
Course usage information

ECON 2920A. Advanced Econometrics - Microeconometrics from a Semiparametric Perspective.

This course is concerned with a rigorous, state-of-the-art introduction to Micro-econometrics. In particular, we will review many of the more recent contributions in Microeconometric Theory. While the focus of this course is theoretical, we will also be concerned with applications and the applicability of these methods. More specifically, we will consider nonparametric regression and density estimation methods, as well as methods and models for binary and categorial dependent variables, for limited dependent variables in general, and for models of selection. We will also discuss more general nonparametric IV models. Prerequisites are: Introductory Econometrics (at the level of the Wooldridge (2002).

Course usage information

ECON 2920B. Topics in Game Theory.

No description available.

Course usage information

ECON 2930. Workshop in Applied Economics.

No description available.

Fall ECON2930 S01 16821 Th 4:00-5:30(04) (J. Shapiro)
Spr ECON2930 S01 25646 Th 4:00-5:30(17) (B. Knight)
Course usage information

ECON 2950. Workshop in Econometrics.

No description available.

Fall ECON2950 S01 16822 T 4:00-5:30(09) (E. Renault)
Spr ECON2950 S01 25647 T 4:00-5:30(16) (E. Renault)
Course usage information

ECON 2960. Workshop in Macroeconomics and Related Topics.

No description available.

Fall ECON2960 S01 16823 W 4:00-5:30(17) (G. Eggertsson)
Spr ECON2960 S01 25648 W 4:00-5:30(14) (J. Blaum)
Course usage information

ECON 2970. Workshop in Economic Theory.

No description available.

Fall ECON2970 S01 16824 M 4:00-5:30(15) (J. Fanning)
Spr ECON2970 S01 25649 M 4:00-5:30(13) (G. De Clippel)
Course usage information

ECON 2971. Race and Inequality Seminar.

This is a workshop primarily for graduate students and faculty in the Department of Economics where original research on issues of race and inequality are presented by external visitors, along with Brown faculty and graduate students. No course credit.

Course usage information

ECON 2980. Reading and Research.

Individual research projects. Section numbers vary by instructor. Please check Banner for the correct section number and CRN to use when registering for this course.

Course usage information

ECON 2990. Thesis Preparation.

For graduate students who have met the tuition requirement and are paying the registration fee to continue active enrollment while preparing a thesis.

Fall ECON2990 S01 14723 Arranged 'To Be Arranged'
Spr ECON2990 S01 23818 Arranged 'To Be Arranged'

Chair

David N. Weil

Professor

Anna Aizer
Professor of Economics

Martin Joseph Beckmann
Professor Emeritus of Economics

Kenneth Chay
Professor of Economics

Gauti B. Eggertsson
Professor of Economics

Allan Maurice Feldman
Professor Emeritus of Economics

Andrew D. Foster
Professor of Economics

Oded Galor
Herbert H. Goldberger Professor of Economics

Justine Hastings
Professor of Economics and International and Public Affairs

Peter W. Howitt
Professor Emeritus of Economics

Brian G. Knight
Professor of Economics

Anthony Lancaster
Herbert H. Goldberger Professor Emeritus of Economics

Glenn C. Loury
Merton P. Stoltz Professor of Social Sciences

Emily F. Oster
Professor of Economics and International and Public Affairs

Talbot Page
Professor Emeritus of Economics and Environmental Studies

Christina Paxson
Professor of Economics and International and Public Affairs

Mark M. Pitt
Professor Emeritus of Economics

Louis Putterman
Professor of Economics

Eric M. Renault
C.V. Starr Professor of Commerce, Organizations and Entrepreneurship

Susanne Schennach
Professor of Economics

Mark Barry Schupack
Professor Emeritus of Economics

Roberto Serrano
Harrison S. Kravis University Professor of Economics

Jesse M. Shapiro
George S. and Nancy B. Parker Professor of Economics

Matthew A. Turner
Professor of Economics

John H. Tyler
Professor of Education; Professor of Economics

Rajiv Vohra
Ford Foundation Professor of Economics

David N. Weil
James and Meryl Tisch Professor of Economics

Visiting Professor

Rafael La Porta
Visiting Professor of Economics

Associate Professor

Pedro Dal Bo
Associate Professor of Economics

Geoffroy De Clippel
Associate Professor of Economics

John N. Friedman
Associate Professor of Economics and International and Public Affairs

Stelios Michalopoulos
Associate Professor of Economics

Andriy Norets
Associate Professor of Economics

Kareen Rozen
Associate Professor of Economics

Assistant Professor

Lint Barrage
Assistant Professor of Economics and Environment and Society

Daniel C. I. Bjorkegren
Assistant Professor of Economics

Joaquin Blaum
Assistant Professor of Economics

Jack A. Fanning
Assistant Professor of Economics

Nathaniel G. Hilger
Assistant Professor of Economics

Matthew A. Kraft
Assistant Professor of Education; Assistant Professor of Economics

Adam M. McCloskey
Assistant Professor of Economics

Neil R. Mehrotra
Assistant Professor of Economics

Pascal Michaillat
Assistant Professor of Economics

John P. Papay
Assistant Professor of Education

Anja Sautmann
Assistant Professor of Economics

Senior Lecturer

Rachel M. Friedberg
Senior Lecturer in Economics

Lecturer

Dror Brenner
Lecturer in Economics

Daniel J. D'Amico
Lecturer in Economics

Sylvia Kuo
Lecturer in Economics

Visiting Scholar

I. Chen
Visiting Scholar in Economics

Jingtong He
Visiting Scholar in Economics

Ryo Horii
Visiting Scholar in Economics

Assaf Sarid
Visiting Scholar in Economics

Economics

Economics is the study of how individuals, businesses, and governments allocate resources to satisfy their objectives. The study of economics helps students understand markets, firms, financial organizations, and public debate about economic policy, including taxation, government expenditure, trade, globalization, health, and welfare. The concentration in Economics prepares students for graduate study in fields such as business and law, for graduate study leading to teaching and research in economics, and can be a steppingstone to employment in business, finance, non-profit, and government organizations. Students may choose either the standard or the professional track. 

Students are required to begin with ECON 0110, an introductory course that stresses the economic problems of our society, and the vocabulary and principles of economic analysis. Intermediate level courses in microeconomics (ECON 1130), macroeconomics (ECON 1210), and econometrics (ECON 1620) round out the list of foundation courses for the concentration. Economics students must also fulfill a calculus requirement.

The economics department sponsors a number of concentration options. The most popular is the standard economics concentration, described below. Three additional concentration options are administered jointly with other departments and are described separately under their respective titles. They are the concentrations in applied mathematics–economics, in mathematical economics, and in computer science–economics. The first two are especially recommended for students interested in graduate study in economics.

The department offers many of the required courses in an interdepartmental concentration called Business, Entrepreneurship and Organizations (BEO). BEO is jointly run by the departments of economics and sociology, and the school of engineering. BEO has three possible "tracks," of which the business economics track is most closely related to economics. Please contact the BEO administrator for more details, including information about advising in that concentration.

Standard Economics Concentration 

Mathematics Course Requirements: 11
Introductory Calculus, Part II
or a higher-level math course.
Economics Course Requirements:
ECON 0110Principles of Economics 31
ECON 1110Intermediate Microeconomics1
or ECON 1130 Intermediate Microeconomics (Mathematical)
ECON 1210Intermediate Macroeconomics1
ECON 1620Introduction to Econometrics1
ECON 1629Applied Research Methods for Economists1
or ECON 1630 Econometrics I
At least five additional 1000-level Economics courses. 25
Total Credits11
1

Note that certain advanced economics courses may impose additional mathematical prerequisites. The standard mathematics requirement may be met through Advanced Placement tests, but "placing into" a higher level mathematics course than MATH 0100, without actually taking that higher level course, does not satisfy the requirement. The AP mathematics credit must appear on your Brown transcript.

2

Note that ECON 1960 (thesis) and ECON 1940 do not count for concentration credit.

3

If placing out of ECON 0110 with AP or IB test scores, one must take an additional 1000-level course (6 instead of 5).

 All concentrators in economics programs are encouraged to consult their concentration advisors regularly. Economics concentrators who wish to study abroad should consult first with the department transfer credit advisor.

Honors

Students who wish to enroll in the honors program in economics should consult the department's undergraduate guide (available on its web site) to obtain a complete description of the requirements. See the description of Capstone Projects there, as well. Courses taken to prepare an honors thesis are in addition to the regular concentration requirements.

Professional Track

The requirements for the professional track include all those of the standard track, as well as the following:

Students must complete two two-to-four month full-time professional experiences, doing work that is related to their concentration programs.  Such work is normally done within an industrial organization, but may also be at a university under the supervision of a faculty member.

On completion of each professional experience, the student must write and upload to ASK a reflective essay about the experience addressing the following prompts, to be approved by the student's concentration advisor:

  • Which courses were put to use in your summer's work?  Which topics, in particular, were important?
  • In retrospect, which courses should you have taken before embarking on your summer experience? What are the topics from these courses that would have helped you over the summer if you had been more familiar with them?
  • Are there topics you should have been familiar with in preparation for your summer experience, but are not taught at Brown?  What are these topics?
  • What did you learn from the experience that probably could not have been picked up from course work?  
  • Is the sort of work you did over the summer something you would like to continue doing once you graduate?  Explain.
  • Would you recommend your summer experience to other Brown students? Explain.

Applied Mathematics-Economics

The Applied Mathematics-Economics concentration is designed to reflect the mathematical and statistical nature of modern economic theory and empirical research. This concentration has two tracks. The first is the advanced economics track, which is intended to prepare students for graduate study in economics. The second is the mathematical finance track, which is intended to prepare students for graduate study in finance, or for careers in finance or financial engineering. Both tracks have A.B. degree versions and Sc.B. degree versions, as well as a Professional track option. 

Standard Program for the A.B. degree (Advanced Economics track):

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Course Requirements:
Applied Mathematics Requirements
(a) 1
APMA 0350
APMA 0360
Applied Ordinary Differential Equations
and Applied Partial Differential Equations I 2
2
Select one of the following:1
Introduction to Scientific Computing (preferred)
Introduction to Scientific Computing and Problem Solving (preferred)
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
Select one of the following:1
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
APMA 1650Statistical Inference I1
(b) 1
Select one of the following:1
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics Requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 31
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Two 1000-level courses from the "mathematical-economics" group: 42
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
One 1000-level course from the "data methods" group: 41
Economics of Education: Research
Labor Economics
Health Economics
Urban Economics
Economic Development
The Economic Analysis of Institutions
Health, Hunger and the Household in Developing Countries
Econometrics II
Financial Econometrics
Data, Statistics, Finance
Finance, Regulation, and the Economy: Research
One additional 1000-level economics course1
Total Credits13
1

No course may be used to simultaneously satisfy (a) and (b).

2

 APMA 0330 and APMA 0340 may be substituted with advisor approval. 

3

 Or ECON 1110 with permission.

4

  No course may be used to simultaneously satisfy the  "mathematical economics" and the "data methods" requirements.

Standard program for the Sc.B. degree (Advanced Economics track):

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Course Requirements:
Applied Mathematics Requirements
(a) 1
APMA 0350
APMA 0360
Applied Ordinary Differential Equations
and Applied Partial Differential Equations I 2
2
Select one of the following:1
Introduction to Scientific Computing (preferred)
Introduction to Scientific Computing and Problem Solving (preferred)
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
Select one of the following:1
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
APMA 1650Statistical Inference I1
(b) 1
Select two of the following:2
Operations Research: Probabilistic Models
Operations Research: Deterministic Models
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics Requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 31
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Three 1000-level courses from the "mathematical-economics" group: 43
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
One 1000-level course from the "data methods" group: 41
Economics of Education: Research
Labor Economics
Health Economics
Urban Economics
Economic Development
The Economic Analysis of Institutions
Health, Hunger and the Household in Developing Countries
Econometrics II
Financial Econometrics
Data, Statistics, Finance
Finance, Regulation, and the Economy: Research
Two additional 1000-level economics courses2
Total Credits16
1

No course may be used to simultaneously satisfy (a) and (b).

2

APMA 0330 and APMA 0340 may be substituted with advisor approval.

3

 Or ECON 1110 with permission.

4

  No course may be used to simultaneously satisfy the "mathematical economics" and the "data methods" requirements.

Standard program for the A.B. degree (Mathematical Finance track):

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Course Requirements:
Applied Mathematics Requirements
(a)
APMA 0350
APMA 0360
Applied Ordinary Differential Equations
and Applied Partial Differential Equations I 1
2
Select one of the following:1
Introduction to Scientific Computing (preferred)
Introduction to Scientific Computing and Problem Solving (preferred)
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
APMA 1200Operations Research: Probabilistic Models1
APMA 1650Statistical Inference I1
(b)
Select one of the following:1
Introduction to Numerical Solution of Differential Equations
Applied Partial Differential Equations II
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Monte Carlo Simulation with Applications to Finance (preferred)
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics Requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 31
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Select two 1000-level courses from the "financial economics" group: 22
Financial Econometrics
Investments I
Corporate Finance
Entrepreneurial Finance and Venture Capital
Investments II
Data, Statistics, Finance
Financial Institutions
Finance, Regulation, and the Economy: Research
Fixed Income Securities
Corporate Strategy
Corporate Governance and Management
Select one 1000-level course from the "mathematical economics" group: 21
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
Select one 1000-level course from the "data methods" group: 21
Economics of Education: Research
Labor Economics
Health Economics
Urban Economics
Economic Development
The Economic Analysis of Institutions
Health, Hunger and the Household in Developing Countries
Econometrics II
Financial Econometrics
Data, Statistics, Finance
Finance, Regulation, and the Economy: Research
Total Credits13
1

APMA 0330 and APMA 0340 may be substituted with advisor approval.

2

 No course may be used to simultaneously satisfy the "financial economics," the "mathematical economics," or the "data methods" requirements.

3

 Or ECON 1110 with permission.

Standard program for the Sc.B. degree (Mathematical Finance track):

Prerequisites:
Introductory Calculus, Part II
Linear Algebra
Course Requirements:
Applied Mathematics requirements:
(a)
APMA 0350
APMA 0360
Applied Ordinary Differential Equations
and Applied Partial Differential Equations I 1
2
Select one of the following:1
Introduction to Scientific Computing (preferred)
Introduction to Scientific Computing and Problem Solving (preferred)
Introduction to Object-Oriented Programming and Computer Science
Computer Science: An Integrated Introduction
APMA 1200Operations Research: Probabilistic Models1
APMA 1650Statistical Inference I1
(b)
Select two of the following:2
Introduction to Numerical Solution of Differential Equations
Applied Partial Differential Equations II
Statistical Inference II
Statistical Analysis of Time Series
Nonparametric Statistics
Computational Probability and Statistics
The Mathematics of Insurance
Monte Carlo Simulation with Applications to Finance (preferred)
Recent Applications of Probability and Statistics
Analysis: Functions of One Variable
Economics Requirements:
ECON 1130Intermediate Microeconomics (Mathematical) 31
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Select three 1000-level courses from the "financial economics" group: 23
Financial Econometrics
Investments I
Corporate Finance
Entrepreneurial Finance and Venture Capital
Investments II
Data, Statistics, Finance
Financial Institutions
Finance, Regulation, and the Economy: Research
Fixed Income Securities
Corporate Strategy
Corporate Governance and Management
Select two 1000-level courses from the "mathematical economics" group: 22
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
Select one 1000-level course from the "data methods" group: 21
Economics of Education: Research
Labor Economics
Health Economics
Urban Economics
Economic Development
The Economic Analysis of Institutions
Health, Hunger and the Household in Developing Countries
Econometrics II
Financial Econometrics
Data, Statistics, Finance
Finance, Regulation, and the Economy: Research
Total Credits16
1

APMA 0330 and APMA 0340 may be substituted with advisor approval.

2

 No course may be used to simultaneously satisfy the "financial economics," the "mathematical economics," or the "data methods" requirements.

3

 Or ECON 1110 with permission.

Honors and Capstone Requirement

Admission to candidacy for honors in the concentration is granted on the following basis: 3.7 GPA for Economics courses, and a 3.5 GPA overall.  To graduate with honors, a student must write an honors thesis in the senior year following the procedures specified by the concentration (see Economics Department website).  Beginning with the class of 2016, students not writing an honors thesis must complete an alternative senior capstone project and obtain the approval of a faculty sponsor.

Professional Track

The requirements for the professional track include all those of the standard track, as well as the following:

Students must complete two two-to-four month full-time professional experiences, doing work that is related to their concentration programs.  Such work is normally done within an industrial organization, but may also be at a university under the supervision of a faculty member. 

On completion of each professional experience, the student must write and upload to ASK a reflective essay about the experience addressing the following prompts, to be approved by the student's concentration advisor:

  • Which courses were put to use in your summer's work?  Which topics, in particular, were important?
  • In retrospect, which courses should you have taken before embarking on your summer experience?  What are the topics from these courses that would have helped you over the summer if you had been more familiar with them?
  • Are there topics you should have been familiar with in preparation for your summer experience, but are not taught at Brown?  What are these topics?
  • What did you learn from the experience that probably could not have been picked up from course work?
  • Is the sort of work you did over the summer something you would like to continue doing once you graduate? Explain.
  • Would you recommend your summer experience to other Brown students? Explain.

Computer Science-Economics

The joint Computer Science-Economics concentration exposes students to the theoretical and practical connections between computer science and economics. It prepares students for professional careers that incorporate aspects of economics and computer technology and for academic careers conducting research in areas that emphasize the overlap between the two fields. Concentrators may choose to pursue either the A.B. or the Sc.B. degree. While the A.B. degree allows students to explore the two disciplines by taking advanced courses in both departments, its smaller number of required courses is compatible with a liberal education. The Sc.B. degree achieves greater depth in both computer science and economics by requiring more courses, and it offers students the opportunity to creatively integrate both disciplines through a design requirement. In addition to courses in economics, computer science, and applied mathematics, all concentrators must fulfill the Computer Science department's writing requirement by passing a course that involves significant expository writing. 

Standard Program for the Sc.B. degree.

Prerequisites (3 courses):
Introductory Calculus, Part II
Linear Algebra
Honors Linear Algebra
Directions: The Matrix in Computer Science
Principles of Economics
Required Courses (17 courses):
Select one of the following Series:2
CSCI 1450Probability and Computing1
or APMA 1650 Statistical Inference I
Series A
Introduction to Object-Oriented Programming and Computer Science
and Introduction to Algorithms and Data Structures
Series B
Computer Science: An Integrated Introduction
and Computer Science: An Integrated Introduction
Series C
Accelerated Introduction to Computer Science
and an additional CS course not otherwise used to satisfy a concentration requirement; this course may be CSCI 0180, an intermediate-level CS course, or a 1000-level course.
Two of the following intermediate courses, one of which must be math-oriented and one systems-oriented.2
Introduction to Discrete Structures and Probability (math)
Introduction to Software Engineering (systems)
Introduction to Computer Systems (systems)
Introduction to Computer Systems
Theory of Computation
A pair of CS courses with a coherent theme. 12
An additional CS course that is either at the 1000-level or is an intermediate course not already used to satisfy concentration requirements. CSCI 1450 may not be used to satisfy this requirement.1
ECON 1130Intermediate Microeconomics (Mathematical) 21
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Three courses from the "mathematical economics" group:3
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
and any graduate Economics course
Two additional 1000-level Economics courses2
Capstone Course in either Computer Science or Economics 31
Total Credits17
1

A list of pre-approved pairs may be found at the approved-pairs web page. You are not restricted to pairs on this list, but any pair not on the list must be approved by the CS director of undergraduate studies.  CSCI 1450 may not be used to satisfy this requirement.

2

Or ECON 1110, with permission.

3

A one-semester course, normally taken in the student's last undergraduate year, in which the student (or group of students) use a significant portion of their undergraduate education, broadly interpreted, in studying some current topic (preferably at the intersection of computer science and economics) in depth, to produce a culminating artifact such as a paper or software project.

Standard Program for the A.B. degree:

Prerequisites (3 courses):
Introductory Calculus, Part II
Linear Algebra
Honors Linear Algebra
Directions: The Matrix in Computer Science
Principles of Economics
Required Courses (13 courses):
Select one of the following series:2
CSCI 1450Probability and Computing1
or APMA 1650 Statistical Inference I
Series A
Introduction to Object-Oriented Programming and Computer Science
and Introduction to Algorithms and Data Structures
Series B
Computer Science: An Integrated Introduction
and Computer Science: An Integrated Introduction
Series C
Accelerated Introduction to Computer Science
and an additional CS course not otherwise used to satisfy a concentration requirement; this course may be CSCI 0180, an intermediate-level course, or a 1000-level course
Two of the following intermediate courses, one of which must be math-oriented and one systems-oriented:2
Introduction to Discrete Structures and Probability (math)
Introduction to Software Engineering (systems)
Introduction to Computer Systems (systems)
Introduction to Computer Systems
Theory of Computation
Two additional CS courses; at least one must be at the 1000-level. The other must either be at the 1000-level or be an intermediate course not already used to satisfy concentration requirements.2
ECON 1130Intermediate Microeconomics (Mathematical) 11
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Three courses from the "mathematical-economics" group:3
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
or any graduate Economics course
Total Credits13
1

Or ECON 1110, with permission.

Honors

Students who meet stated requirements are eligible to write an honors thesis in their senior year.  Students should consult the listed honors requirements of whichever of the two departments their primary thesis advisor belongs to, at the respective departments' websites.

Professional Track

The requirements for the professional track include all those of the standard track, as well as the following:

Students must complete two two-to-four-month full-time professional experiences, doing work that is related to their concentration programs. Such work is normally done within an industrial organization, but may also be at a university under the supervision of a faculty member.

On completion of each professional experience, the student must write and upload to ASK a reflective essay about the experience addressing the following prompts, to be approved by the student's concentration advisor:

  • Which courses were put to use in your summer's work? Which topics, in particular, were important?
  • In retrospect, which courses should you have taken before embarking on your summer experience? What are the topics from these courses that would have helped you over the summer if you had been more familiar with them?
  • Are there topics you should have been familiar with in preparation for your summer experience, but are not taught at Brown? What are these topics?
  • What did you learn from the experience that probably could not have been picked up from course work?
  • Is the sort of work you did over the summer something you would like to continue doing once you graduate? Explain.
  • Would you recommend your summer experience to other Brown students? Explain.

Mathematics-Economics

Standard Mathematics-Economics Concentration 

Economics
ECON 1130Intermediate Microeconomics (Mathematical) 11
ECON 1210Intermediate Macroeconomics1
ECON 1630Econometrics I1
Two courses from the "mathematical-economics" group: 22
Welfare Economics and Social Choice Theory
Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies
Market Design: Theory and Applications
Bargaining Theory and Applications
Econometrics II
Financial Econometrics
Investments II
Data, Statistics, Finance
Economics and Psychology
Behavioral Economics
Theory of Economic Growth
The Theory of General Equilibrium
Game Theory and Applications to Economics
One course from the "data methods" group: 21
Economics of Education I
Economics of Education: Research
Labor Economics
Health Economics
Urban Economics
Public Economics
Economic Development
The Economic Analysis of Institutions
Health, Hunger and the Household in Developing Countries
Applied Research Methods for Economists
Econometrics II
Financial Econometrics
Data, Statistics, Finance
Finance, Regulation, and the Economy: Research
Two additional 1000-level economics courses2
Mathematics
Calculus: MATH 0180 or higher1
Linnear Algebra - one of the following:1
Linear Algebra
Honors Linear Algebra
Probability Theory - one of the following:1
Probability
Mathematical Statistics
Statistical Inference I
Analysis - one of the following:1
Analysis: Functions of One Variable
Functions of Several Variables
Functions Of Several Variables
Differential Equations - one of the following:1
Ordinary Differential Equations
Partial Differential Equations
One additional course from the Probability, Analysis, and Differential Equations courses listed above1
Total Credits14
1

Or ECON 1110 with permission.

2

No course may be "double-counted" to satisfy both the mathematical-economics and data methods requirement.

Honors and Capstone Requirement:

Admission to candidacy for honors in the concentration is granted on the following basis: 3.7 GPA for Economics courses, and 3.5 GPA overall.  To graduate with honors, a student must write an honors thesis in senior year following the procedures specified by the concentration (see Economics Department website).  Beginning with the class of 2016, students not writing an honors thesis must complete an alternative senior capstone project and obtain approval of a faculty sponsor. 

Professional Track 

The requirements for the professional track include all those of the standard track, as well as the following:

Students must complete two two-to-four month full-time professional experiences, doing work that is relevant to their concentration programs.  Such work is normally done within an industrial organization, but may also be at a university under the supervision of a faculty member.

On completion of each professional experience, the student must write and upload to ASK a reflective essay about the experience addressing the following prompts, to be approved by the student's concentration advisor:

  • Which courses were put to use in your summer's work? Which topics, in particular, were important?
  • In retrospect, which courses should you have taken before embarking on your summer experience? What are the topics from these courses that would have helped you over the summer if you had been more familiar with them?
  • Are there topics you should have been familiar with in preparation for your summer experience, but are not taught at Brown? What are these topics?
  • What did you learn from the experience that probably could not have been picked up from course work?
  • Is the sort of work you did over the summer something you would like to continue doing once you graduate? Explain.
  • Would you recommend your summer experience to other Brown students? Explain.

Economics

The department of Economics offers a graduate program leading to the Doctor of Philosophy (Ph.D.) degree. 

The department also offers a one-year Master of Arts (A.M.) program. However, applicants to the A.M. program should apply to the Ph.D. program, and are evaluated using the same criteria as applicants to the Ph.D. program. Students in the A.M. program are not funded by Brown. A.M. students who take the core examination and pass it will continue in the Ph.D. program and receive funding. In addition, Ph.D. students can earn the A.M. on the way to the Ph.D. or can receive the A.M. if they choose not to complete the Ph.D. program. The A.M. requires passing eight courses in the areas of Microeconomics, Macroeconomics, and Econometrics.

For more information on admission and program requirements, please visit the following website:

http://www.brown.edu/academics/gradschool/programs/economics