Economics is a social science that analyzes how people, businesses, and governments make the best of limited resources, and how they make choices when faced with tradeoffs. Microeconomics studies these decision-makers and the markets in which they interact, while macroeconomics studies the workings of the economy as a whole. Economics provides tools for understanding public policy issues like inequality, poverty, education, health, taxes, trade, regulation, and the environment.

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

**ECON 0110. Principles of Economics**.

Extensive coverage of economic issues, institutions, and terminology, 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.

Fall | ECON0110 | S01 | 17061 | MWF | 12:00-12:50(15) | (S. Kuo) |

Fall | ECON0110 | C01 | 17066 | M | 6:00-6:50 | (S. Kuo) |

Fall | ECON0110 | C02 | 17067 | M | 6:00-6:50 | (S. Kuo) |

Fall | ECON0110 | C03 | 17068 | M | 6:00-6:50 | (S. Kuo) |

Fall | ECON0110 | C04 | 17069 | M | 6:00-6:50 | (S. Kuo) |

Fall | ECON0110 | C05 | 17070 | T | 12:00-12:50 | (S. Kuo) |

Fall | ECON0110 | C06 | 17071 | M | 6:00-6:50 | (S. Kuo) |

Fall | ECON0110 | C07 | 17072 | M | 6:00-6:50 | (S. Kuo) |

Fall | ECON0110 | C08 | 17073 | M | 6:00-6:50 | (S. Kuo) |

Fall | ECON0110 | C09 | 17074 | M | 6:00-6:50 | (S. Kuo) |

Fall | ECON0110 | C10 | 17075 | M | 6:00-6:50 | (S. Kuo) |

Fall | ECON0110 | C11 | 17076 | T | 12:00-12:50 | (S. Kuo) |

Fall | ECON0110 | C12 | 17077 | T | 12:00-12:50 | (S. Kuo) |

Fall | ECON0110 | C13 | 17078 | T | 12:00-12:50 | (S. Kuo) |

Fall | ECON0110 | C14 | 17079 | T | 12:00-12:50 | (S. Kuo) |

Fall | ECON0110 | C15 | 17080 | T | 12:00-12:50 | (S. Kuo) |

Fall | ECON0110 | C16 | 17081 | T | 7:00-7:50 | (S. Kuo) |

Fall | ECON0110 | C17 | 17082 | T | 7:00-7:50 | (S. Kuo) |

Fall | ECON0110 | C18 | 17083 | T | 7:00-7:50 | (S. Kuo) |

Fall | ECON0110 | C19 | 17084 | T | 7:00-7:50 | (S. Kuo) |

Fall | ECON0110 | C20 | 17085 | T | 7:00-7:50 | (S. Kuo) |

Spr | ECON0110 | S01 | 25663 | MWF | 10:00-10:50(03) | (S. Kuo) |

Spr | ECON0110 | C01 | 25665 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C02 | 25666 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C03 | 25667 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C04 | 25668 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C05 | 25669 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C06 | 25670 | M | 6:00-6:50 | (S. Kuo) |

Spr | ECON0110 | C07 | 25671 | M | 6:00-6:50 | (S. Kuo) |

Spr | ECON0110 | C08 | 25672 | M | 6:00-6:50 | (S. Kuo) |

Spr | ECON0110 | C09 | 25673 | M | 6:00-6:50 | (S. Kuo) |

Spr | ECON0110 | C10 | 25674 | M | 6:00-6:50 | (S. Kuo) |

Spr | ECON0110 | C11 | 25675 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C12 | 25676 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C13 | 25677 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C14 | 25678 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C15 | 25679 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C16 | 25680 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C17 | 25681 | T | 12:00-12:50 | (S. Kuo) |

Spr | ECON0110 | C18 | 25682 | T | 7:00-7:50 | (S. Kuo) |

Spr | ECON0110 | C19 | 25683 | T | 7:00-7:50 | (S. Kuo) |

Spr | ECON0110 | C20 | 25684 | T | 7:00-7:50 | (S. Kuo) |

**ECON 0170. Essential Mathematics for Economics**.

This course teaches the mathematical skills useful for upper level Economics classes. Emphasis is on acquisition of tools, problem solving, intuition, and applications rather than proofs.

This course satisfies the mathematics requirement for the Economics concentration, but does not serve as a prerequisite for upper level courses in Math, Applied Math, or other departments. Students planning further courses in those areas should take MATH 0100 or MATH 0170 (which also satisfy the Economics concentration requirement) instead. Ideally, ECON 0170 should be taken before ECON 1110, or at least simultaneously.

Fall | ECON0170 | S01 | 17194 | MWF | 9:00-9:50(09) | (K. Mallory) |

Spr | ECON0170 | S01 | 25701 | MWF | 11:00-11:50(04) | (K. Mallory) |

**ECON 0180A. Using Big Data to Solve Economic and Social Problems**.

This course will show how "big data" can be used to understand and address some of the most important social and economic problems of our time. The course will give students an introduction to frontier research and policy applications in economics and social science in a non-technical manner that does not require prior coursework in economics or statistics, making it suitable both for students exploring economics for the first time, as well as those with more experience. Topics include equality of opportunity, education, racial disparities, effects of the COVID-19 pandemic, health care, climate change, criminal justice, and tax policy. In order to be eligible, first year students would have to turn in the homework assignment and attend the first class.

**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.

**ECON 0180E. The Economics of Higher Education**.

Some of the most important and controversial policy issues we face today concern higher education—such as whether college should be free, college debt should be forgiven, Federal Pell Grants should be increased, and colleges should embrace online instruction. This seminar will provide students with the skills and knowledge needed to understand and analyze these issues and is structured in two parts. In Part 1 (Basics), students will be given a grounding in how the U.S. system of higher education is structured and financed. Part 2 (Issues) will take a data-driven approach to assessing key questions about higher education, with applications to state and national policy issues. Guest speakers will occasionally visit the seminar to share their expertise with the class.

In order to be eligible, first year students would have to turn in the homework assignment and attend the first class.

See Class Notes for additional information

**ECON 0200. 20th Century Political Economy**.

This course covers major debates in the 20th century political economy, starting with the Bolshevik Revolution and the Treatise of Versailles. We examine the Great Depression, the New Deal, and Postwar economic planning in the US and UK. We then turn to consider important periods in the second half of the 20th century, including Indian Economic Planning, Bretton Woods, and inflation in the 1970s. The course ends with a consideration of trade, trade deficits, sovereign debt crises, and austerity. The aim is to develop an understanding of both sides of key debates in political economy.

**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.

**ECON 0400. Free Inquiry and the Modern World**.

This course will thoroughly investigate the nature of free inquiry and social restraints on public discourse, beginning with Plato and culminating with some contemporary case studies. We will explore ideas concerning freedom of expression and conscience, including the role of the individual, the dissident, and the state. The course will be divided into two parts. In the first part, we'll look at texts -- ancient and modern -- dealing with these issues. In the second part, we turn to case studies, exploring issues which are so contentious that the manner in which they are discussed is subject to various measures of 'political correctness' that potentially amount to restrictions on freedom of inquiry.

**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.

**ECON 0520. The Economics of Gender Equality and Development**.

This course shows how an economics lens can be useful in understanding disparities in gender outcomes; how these disparities evolve over the development process; why closing gender gaps matters for development; and the roles of public policies and private action. Among the outcomes examined are human capital, access to economic opportunities, and agency or the ability to make choices and take actions. We will use the tools of economics think about how individuals and families make decisions, respond to opportunities generated by markets, and are affected by the parameters outlined by both formal and informal institutions and social norms.

**ECON 0710. Financial Accounting**.

This course covers the basics of accounting theory and practice. Students learn about the accounting procedures for various forms of business organizations. In addition, students learn how to read, analyze, and understand financial statements, and learn how the numbers in the financial statements get there.

Fall | ECON0710 | S01 | 17050 | MW | 6:00-7:30(10) | (D. Gertrudes) |

Fall | ECON0710 | S02 | 17051 | TTh | 6:00-7:30(02) | (T. Molinari) |

Spr | ECON0710 | S01 | 25780 | MW | 6:00-7:30(14) | 'To Be Arranged' |

Spr | ECON0710 | S02 | 25781 | TTh | 6:00-7:30(18) | (M. Correia) |

**ECON 0720. Business Fundamentals Bootcamp**.

Brown has partnered with Hult International Business School ( https://www.hult.edu/lp/hult-brown-bootcamp/ ) for this program - renowned for its skill-focused approach to education and commitment to learning by doing. The Business Fundamentals Bootcamp enables you to learn and practice the fundamental skills needed for innovation within a business setting. Rapidly evolving labor markets in the Age of AI place a premium on your ability to articulate, analyze, assess, and execute on innovative ideas. You will learn new business concepts in the areas of Marketing & Branding, Financial Acumen, and New Product Planning. You will integrate these skills by applying them to a growth challenge for an international food company - Grupo Bimbo ($15B Revenues, Household Brands: Thomas’ Muffins, SaraLee, Entenmmans). Throughout the course, you will test your business hypotheses and iterate your ideas. On a weekly basis you will turn concepts learned into practical skills, working in teams. The program culminates with a competitive pitch to company executives. Faculty will challenge and support you with practice opportunities -- individually and in collaborative teams. Your faculty for this immersive experience will be a combination of Brown faculty, Hult faculty, senior executives and practitioners, and coaches.

**ECON 1000. Using Big Data to Solve Economic and Social Problems**.

This course will show how "big data" can be used to understand and address some of the most important social and economic problems of our time. The course will give students an introduction to frontier research and policy applications in economics and social science in a non-technical manner that does not require prior coursework in economics or statistics, making it suitable both for students exploring economics for the first time, as well as those with more experience. Topics include equality of opportunity, education, racial disparities, effects of the COVID-19 pandemic, health care, climate change, criminal justice, and tax policy.

Fall | ECON1000 | S01 | 17259 | TTh | 10:30-11:50(13) | (J. Friedman) |

Fall | ECON1000 | L01 | 18214 | W | 7:00-7:50 | (J. Friedman) |

Fall | ECON1000 | L02 | 18215 | W | 8:00PM-8:50PM | (J. Friedman) |

Fall | ECON1000 | L03 | 18216 | Th | 7:00-7:50 | (J. Friedman) |

Fall | ECON1000 | L04 | 18217 | Th | 8:00PM-8:50PM | (J. Friedman) |

**ECON 1070. Race, Crime, and Punishment in America**.

This new course will use the perspectives of economics to examine the causes and consequences of high levels of incarceration in the United States, especially as it relates to the social disadvantage of African Americans. Quantitative analysis will be used sparingly. Students will be evaluated based on three short writing assignments. Issues examined include: racial disparities in punishment; the impact of crime on communities; policing and race relations in American cities; stereotypes and the economics of crime; the governing of prisons and the limits of punishment.

Spr | ECON1070 | S01 | 25702 | TTh | 10:30-11:50(09) | (G. Loury) |

**ECON 1090. Introduction to Game Theory**.

This course introduces students to game theory, the study of interactive decision making. Students will learn about major solution concepts, gaining a critical understanding of their meaning and limitations, as well as an ability to compute them. Game theory will then be applied to gain insight into a wide range of issues.

**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.

Fall | ECON1110 | S01 | 17196 | MWF | 9:00-9:50(09) | (P. Dal Bo) |

Fall | ECON1110 | S02 | 17197 | TTh | 2:30-3:50(12) | (J. Fanning) |

Fall | ECON1110 | S03 | 17198 | TTh | 9:00-10:20(05) | (T. Mekonnen) |

Spr | ECON1110 | S01 | 25703 | MWF | 1:00-1:50(06) | (A. Poterack) |

Spr | ECON1110 | S02 | 25704 | MWF | 10:00-10:50(03) | (J. Fanning) |

**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.

Fall | ECON1130 | S01 | 17199 | TTh | 9:00-10:20(05) | (R. Vohra) |

Spr | ECON1130 | S01 | 25706 | TTh | 9:00-10:20(05) | (R. Serrano) |

Spr | ECON1130 | S02 | 25707 | TTh | 2:30-3:50(11) | (R. Vohra) |

**ECON 1170. Welfare Economics and Social Choice Theory**.

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.

Spr | ECON1170 | S01 | 25708 | TTh | 1:00-2:20(08) | (R. Serrano) |

**ECON 1200. History of Economic Thought**.

This course covers the history of modern (20th century) economics and economic thinking from the marginal revolution through the first half of the 20th century. The aim will be to develop an understanding of the origin and evolution of central concepts in economic theory, including subjective utility, marginal analysis, competitive markets, examine methodological disputes over positivism and formalism, and the development of general competitive equilibrium. We will consider the emergence of certain subfields in modern economics, and end with a discussion of the relevance of these ideas for economics in the 21st century.

Fall | ECON1200 | S01 | 18783 | TTh | 2:30-3:50(12) | (E. Skarbek) |

**ECON 1205. The Economics of Populism and Polarization**.

The recent rise of populism has been unprecedented in history. At the same time, the U.S. is described as increasingly polarized by mass media. What accounts for this? How do these two concepts relate to each other? This course will use tools from microeconomics and applied econometrics to study the origins and implications of populism and political polarization, exploring how economic, cultural, and political factors interact. Students will complete weekly readings, a presentation, a discussion, and a final paper. Classes will be as interactive as possible.

Spr | ECON1205 | S01 | 25897 | T | 4:00-6:30(16) | (E. Sartre) |

**ECON 1210. Intermediate Macroeconomics**.

The economy as a whole: Level and growth of national income, inflation, unemployment, role of government policy.

Fall | ECON1210 | S01 | 17200 | MWF | 9:00-9:50(09) | (K. Forrester) |

Fall | ECON1210 | S02 | 17201 | MWF | 10:00-10:50(14) | (K. Forrester) |

Fall | ECON1210 | S03 | 17202 | TTh | 1:00-2:20(06) | (A. Handlan) |

Spr | ECON1210 | S01 | 25709 | MWF | 12:00-12:50(01) | (M. Lancastre) |

Spr | ECON1210 | S02 | 25710 | TTh | 2:30-3:50(11) | (Y. Koby) |

Spr | ECON1210 | S03 | 25711 | MWF | 9:00-9:50(02) | (K. Forrester) |

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

The course is concerned with macroeconomic policy in the US, 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.

Fall | ECON1225 | S01 | 17203 | M | 3:00-5:30(03) | (G. Eggertsson) |

**ECON 1255. Unemployment: Models and Policies**.

This course will cover research topics related to unemployment, focusing on the models used to describe unemployment and the policies used to tackle unemployment. It will address the following questions: Why does unemployment exist? Why does unemployment vary across countries?Why does unemployment vary over time? What is the socially optimal level of unemployment? How should unemployment insurance, monetary policy, and fiscal policy respond to an increase in unemployment during a recession?

**ECON 1300. Education, the Economy and School Reform (EDUC1600)**.

Interested students must register for EDUC 1150.

**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.

**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.

**ECON 1310. Labor Economics**.

Labor supply, human capital, income inequality, discrimination, immigration, unemployment.

Fall | ECON1310 | S01 | 17205 | TTh | 1:00-2:20(06) | (K. Chay) |

**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.

**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 | 17206 | MW | 8:30-9:50(09) | (M. Turner) |

**ECON 1350. Environmental Economics and Policy**.

This course considers environmental issues through an economic lens. It is loosely arranged around four questions: why are markets so powerful? Why do markets frequently fail to deliver environmental goods? Can markets be harnessed to deliver environmental goods? If so, why don’t we do that?

Spr | ECON1350 | S01 | 25713 | MWF | 10:00-10:50(03) | (A. Poterack) |

**ECON 1355. Environmental Issues in Development Economics**.

Examines environmental issues in developing countries, including air and water pollution, land use change, energy use, and the extraction of natural resources. Uses microeconomic models of households and firms, linking household/firm decision-making on environmental issues to choices in labor, land, and product markets. Develops basic empirical techniques through exercises and a project. For readings, relies exclusively on recent research to illustrate the roles of econometrics and economic theory in confronting problems at the nexus of the environment, poverty, and economic development.

Spr | ECON1355 | S01 | 25714 | M | 3:00-5:30(13) | (A. Foster) |

**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.

**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.

Spr | ECON1370 | S01 | 25716 | TTh | 1:00-2:20(08) | (G. Loury) |

**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.

**ECON 1385. Intergenerational Poverty in America**.

In the US, the children of poor parents are eight times more likely to grow up to be poor than the children of high-income parents. What accounts for this? In this course we try to answer this question by examining how poverty influences child development and, ultimately, their income and wellbeing in adulthood. We will begin the course with an overview of poverty and intergenerational mobility in America, looking at historical trends and placing the US in international context. To understand why poverty is persistent across generations in the US, we begin with the economic model of skill formation in childhood. We then consider the existing research exploring how a number of factors explain the intergenerational persistence of poverty, including parental time, pollution, infant and child health, the justice system, neighborhoods, stress, and preschool/education systems.

Fall | ECON1385 | S01 | 17207 | TTh | 9:00-10:20(05) | (A. Aizer) |

**ECON 1390. Inequality of Income, Wealth, and Health in the United States**.

Inequality of income, wealth, and health, with a focus on the United States. Topics include measurement of inequality, mobility, and poverty; the mapping from individual characteristics to income and wealth; transmission of economic status between generations; the division of national income between capital and labor; factors causing the rise in inequality in the United States since 1980, including technological change and globalization; differential trends in life expectancy, morbidity, and health behaviors among income groups; government policies that impact inequality, including progressive taxation, the minimum wage, support of unionization, public education, and immigration policy; and the political economy of redistributive policies.

**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.

**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.

Spr | ECON1410 | S01 | 25717 | MW | 8:30-9:50(02) | (M. Turner) |

**ECON 1420. 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. Economics of innovation: research and development activities and government patent policies. Network effects, and why market share critical mass matters for firm survival in certain markets.

Fall | ECON1420 | S01 | 17208 | MWF | 2:00-2:50(01) | (M. Lancastre) |

Spr | ECON1420 | S01 | 25718 | MWF | 2:00-2:50(07) | (M. Lancastre) |

**ECON 1430. The Economics of Social Policy**.

This course will cover research topics in the economics of social policy. The course will focus on understanding the context for key social policies in health, education, social welfare and other areas as well as understanding the methods that economists use to generate causal impacts of these policies.

Spr | ECON1430 | S01 | 25719 | TTh | 9:00-10:20(05) | (E. Oster) |

**ECON 1440. 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.

**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.

Fall | ECON1450 | S01 | 17210 | MWF | 2:00-2:50(01) | (L. Putterman) |

**ECON 1460. Industrial Organization (Mathematical)**.

A more mathematical treatment of industry structure, firm conduct, and economic/antitrust implications. Theoretical and empirical examinations of strategic firm interactions in oligopolistic markets, dominant firm behaviors, and entry deterrence by incumbents. Economics of innovation: research and development activities and government patent policies. This course uses mathematical methods from intermediate microeconomics, including game theory, and from econometrics, including regression analysis.

**ECON 1465. Antitrust and Competition**.

Antitrust law shapes competition through public policy based on economics and economic incentives. In this course we will use tools from microeconomics, econometrics, and industrial organization to learn about Antitrust policy and regulation of competition in the marketplace. We will learn about antitrust through the context of economics and Antitrust cases over the past century. Students will complete weekly readings, and a final paper. Class time will be devoted to a mix of lecture and discussion of readings and lecture topics.

**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.

Spr | ECON1470 | S01 | 25721 | MWF | 1:00-1:50(06) | (J. Fanning) |

**ECON 1480. Public Economics**.

What is the appropriate role for government in a market economy? How can public policy help or hinder economic outcomes? How do governments choose what policies to pursue? These are the sorts of questions addressed in Public Economics, which uses the tools of economic theory to analyze a wide range of topics, including taxation, public goods, healthcare policy, zoning, voting behavior, and more. If the course is full and you'd like to be added to the waitlist, please fill out the form at https://forms.gle/Vvg69ZERbcksQrqg9. You MUST fill out that form to be added to the waitlist; anyone who does not will not be considered for admission into the class.

Fall | ECON1480 | S01 | 17256 | MWF | 10:00-10:50(14) | (A. Poterack) |

Spr | ECON1480 | S01 | 26989 | MW | 3:00-4:20(10) | (E. Skarbek) |

**ECON 1487. Policy Questions and Quantitative Methods to Explore Them**.

The objective of this course is, precisely, to offer those insights to students interested in a career in policymaking by providing case studies of the most important and challenging policy questions of our lifetimes. By the end of the course, students will have deepened their understanding of the most important policy challenges from an array of different policy questions and studying the evidence around them, with a special focus on quantitative methods useful to analyze those questions.

Fall | ECON1487 | S01 | 19080 | M | 3:00-5:30(03) | (D. Bahar) |

**ECON 1490. Designing Internet Marketplaces**.

How has the digital economy changed market interactions? The goal of this course is to help you think critically, using economic theory, about the future of the digital economy.

What are important economic activities now being conducted digitally?

How has digital implementation of these activities changed economists’ classical views and assumptions?

What are ways in which we can use economics to engineer “better” digital markets?

We will focus on several real-world markets (eg. eBay, Airbnb, Google advertising, Uber, Tinder, TaskRabbit) and topics (eg. market entry, pricing, search, auctions, matching, reputation, peer-to-peer platform design).

Fall | ECON1490 | S01 | 17211 | TTh | 10:30-11:50(13) | (B. Pakzad-Hurson) |

Spr | ECON1490 | S01 | 25722 | TTh | 9:00-10:20(05) | (B. Pakzad-Hurson) |

**ECON 1500. Current Global Macroeconomic Challenges**.

We will study some of the most important macroeconomic challenges that the world faces today including secular stagnation, inequality, COVID-19, climate change, fiscal sustainability. This course aspires to make you a better economist and a better citizen of the world. We will talk about the `big stuff` that really matters, the economic forces that shape the lives of billions of people – including your own. By the end of the course, you will feel more comfortable evaluating economic policy aimed at tackling complex real-world economic issues that are riddled with tradeoffs and uncertainty.

**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.

**ECON 1520. Culture, History and Comparative Development**.

Why are some societies rich and others poor? While typical answers emphasize proximate causes like factor accumulation, technological progress, and demographic change, weighing the shadow of history on contemporary economic performance occupies an increasing part of the agenda among growth and development economists. This course will critically survey the recent empirical literature highlighting the role of historical events and geographic endowments in shaping social, political, and cultural factors and the process of development.

Fall | ECON1520 | S01 | 18352 | TTh | 1:00-2:20(06) | (S. Michalopoulos) |

**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.

Fall | ECON1530 | S01 | 17212 | M | 3:00-5:30(03) | (A. Foster) |

**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.

Spr | ECON1540 | S01 | 25755 | MWF | 11:00-11:50(04) | (K. Forrester) |

**ECON 1545. Topics in Macroeconomics, Development and International Economics**.

This class is a senior seminar that covers selected topics at the intersection of macroeconomics, economic development and international trade. The leading theme of the class is the determinants of the observed cross-country differences in income per capita and growth rates. We will consider a wide range of theories to explain such disparities in economic outcomes, with a special focus on theories that stress problems in financial markets. We will also study the role of wealth inequality. We may also cover structural change, the link between volatility, diversification and development, and selected topics in international trade.

**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.

**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.

**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?

**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.

**ECON 1590. The Economy of China since 1949**.

This course examines the organization, structure, and performance of the economy of China. Emphasis is placed on 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 especially as it influences developments in the market-oriented reform period since 1978. Topics include rural and urban development, industrialization and structural change, rural-urban migration, income inequality and growth, the role of international trade and investment. Both analytical and descriptive methods are used.

Spr | ECON1590 | S01 | 25757 | MWF | 2:00-2:50(07) | (L. Putterman) |

**ECON 1600. Education, the Economy and School Reform**.

This seminar examines the linkages between educational achievement and economic outcomes for individuals and nations. We study a range of system, organizational, and personnel reforms in education by reviewing the empirical evidence and debating which reforms hold promise for improving public education and closing persistent achievement gaps. Understanding and critiquing the experimental, quasi-experimental and descriptive research methods used in the empirical literature will play a central role in the course.

**ECON 1620. Introduction to Econometrics**.

Probability and statistical inference. Estimation and hypothesis testing. Simple and multiple regression analysis. Applications emphasized. Weekly one-hour computer conference required.

Fall | ECON1620 | S01 | 17213 | TTh | 10:30-11:50(13) | (B. Knight) |

Fall | ECON1620 | L01 | 17260 | W | 11:00-11:50 | (B. Knight) |

Fall | ECON1620 | L02 | 17261 | W | 6:00-6:50 | (B. Knight) |

Fall | ECON1620 | L03 | 17262 | W | 7:00-7:50 | (B. Knight) |

Fall | ECON1620 | L04 | 17263 | Th | 12:00-12:50 | (B. Knight) |

Fall | ECON1620 | L05 | 17264 | Th | 6:00-6:50 | (B. Knight) |

Fall | ECON1620 | L06 | 17265 | Th | 7:00-7:50 | (B. Knight) |

Spr | ECON1620 | S01 | 25865 | TTh | 10:30-11:50(09) | (S. Kwon) |

Spr | ECON1620 | S02 | 25866 | MW | 3:00-4:20(10) | (T. Kitagawa) |

Spr | ECON1620 | L01 | 25867 | M | 6:00-6:50 | (S. Kwon) |

Spr | ECON1620 | L02 | 25868 | T | 12:00-12:50 | (S. Kwon) |

Spr | ECON1620 | L03 | 25869 | W | 7:00-7:50 | (S. Kwon) |

Spr | ECON1620 | L04 | 25870 | Th | 12:00-12:50 | (T. Kitagawa) |

Spr | ECON1620 | L05 | 25871 | Th | 8:00PM-8:50PM | (T. Kitagawa) |

Spr | ECON1620 | L06 | 25872 | Th | 7:00-7:50 | (T. Kitagawa) |

**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.

Fall | ECON1629 | S01 | 17214 | TTh | 1:00-2:20(06) | (A. Aizer) |

Fall | ECON1629 | S02 | 17215 | MW | 3:00-4:20(10) | (M. Pecenco) |

Fall | ECON1629 | L01 | 17266 | M | 9:00-9:50 | (A. Aizer) |

Fall | ECON1629 | L02 | 17267 | M | 7:00-7:50 | (A. Aizer) |

Fall | ECON1629 | L03 | 17268 | T | 12:00-12:50 | (A. Aizer) |

Fall | ECON1629 | L04 | 17269 | T | 7:00-7:50 | (A. Aizer) |

Fall | ECON1629 | L05 | 17270 | M | 6:00-6:50 | (M. Pecenco) |

Fall | ECON1629 | L06 | 17271 | M | 7:00-7:50 | (M. Pecenco) |

Fall | ECON1629 | L07 | 17272 | T | 12:00-12:50 | (M. Pecenco) |

Fall | ECON1629 | L08 | 17273 | T | 7:00-7:50 | (M. Pecenco) |

Spr | ECON1629 | S01 | 25782 | MW | 3:00-4:20(10) | (L. Lagos) |

Spr | ECON1629 | S02 | 25783 | TTh | 1:00-2:20(08) | (D. Bjorkegren) |

Spr | ECON1629 | L01 | 25784 | M | 9:00-9:50 | (L. Lagos) |

Spr | ECON1629 | L02 | 25785 | M | 7:00-7:50 | (L. Lagos) |

Spr | ECON1629 | L03 | 25786 | T | 12:00-12:50 | (L. Lagos) |

Spr | ECON1629 | L04 | 25787 | T | 7:00-7:50 | (L. Lagos) |

Spr | ECON1629 | L05 | 25788 | M | 6:00-6:50 | (D. Bjorkegren) |

Spr | ECON1629 | L06 | 25789 | M | 7:00-7:50 | (D. Bjorkegren) |

Spr | ECON1629 | L07 | 25790 | F | 9:00-9:50 | (D. Bjorkegren) |

Spr | ECON1629 | L08 | 25791 | W | 9:00-9:50 | (D. Bjorkegren) |

**ECON 1630. Mathematical 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.

Fall | ECON1630 | S01 | 17216 | TTh | 9:00-10:20(05) | (A. Norets) |

Fall | ECON1630 | S02 | 17217 | TTh | 2:30-3:50(12) | (P. Hull) |

Spr | ECON1630 | S01 | 25858 | TTh | 10:30-11:50(09) | (J. Roth) |

Spr | ECON1630 | S02 | 25859 | TTh | 2:30-3:50(11) | (J. Roth) |

**ECON 1640. Mathematical Econometrics II**.

Continuation of ECON 1630 with an emphasis on econometric modeling and applications. Includes applied topics from labor, finance, and macroeconomics.

**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.

**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.

Fall | ECON1660 | S01 | 17218 | T | 4:00-6:30(07) | (D. Bjorkegren) |

**ECON 1670. Advanced Topics in Econometrics**.

This class will present advanced topics in Econometrics. The focus will be on cross-sectional methods; the class will start with some basic results needed for any advanced econometrics work, before giving an introduction to asymptotic and identification techniques and concepts, with some applications.

Spr | ECON1670 | S01 | 25763 | Th | 4:00-6:30(17) | (A. Norets) |

**ECON 1680. Machine Learning, Text Analysis, and Economics**.

Economists need advanced methods to study data that is complex, high-dimensional, and unstructured. This course highlights key challenges of working with such data in economics and what machine learning and text analysis methods can be used to address them. We will cover applications of unsupervised and supervised learning for both numerical and text data. Students will leave the course with a machine learning project and a text analysis project that will function as a research portfolio they can show future employers or graduate programs. Lectures will introduce students to new material and include discussions of current economics research using machine learning and text analysis methods. Recitation sessions will alternate between two types: first, will be applied exercises demonstrating methods covered in class, and second, will focus on developing writing assignments and providing peer feedback.

Spr | ECON1680 | S01 | 26289 | M | 3:00-5:30(13) | (A. Handlan) |

**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.

Fall | ECON1710 | S01 | 17219 | MWF | 11:00-11:50(16) | (S. Kuo) |

Fall | ECON1710 | S02 | 17220 | MWF | 1:00-1:50(08) | (F. Duarte) |

Spr | ECON1710 | S01 | 25766 | MWF | 1:00-1:50(06) | (S. Kuo) |

Spr | ECON1710 | S02 | 25767 | MWF | 11:00-11:50(04) | (B. Gibbs) |

**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, leveraged buyouts and corporate restructuring.

Fall | ECON1720 | S01 | 17221 | MWF | 12:00-12:50(15) | (B. Gibbs) |

Spr | ECON1720 | S01 | 25768 | MWF | 9:00-9:50(02) | (B. Gibbs) |

**ECON 1730. Venture Capital, Private Equity, and Entrepreneurship**.

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 | 17222 | TTh | 10:30-11:50(13) | (R. La Porta) |

**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.

**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.

Fall | ECON1750 | S01 | 17223 | MW | 3:00-4:20(10) | (F. Duarte) |

**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.

Fall | ECON1760 | S01 | 17224 | MWF | 9:00-9:50(09) | (B. Gibbs) |

**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.

**ECON 1780. Advanced Topics in Corporate Finance**.

This advanced, case-based seminar is focused on delving deeply into several key pillars of corporate finance: valuation, financing, cash management, and, importantly, business ethics. We will build upon concepts presented in earlier finance courses, in particular, ECON 1710 and ECON 1720, and will use MBA-level cases to explore in much greater detail several concepts introduced in these classes. This course is rigorous - we will be analyzing at least one case each week and qualitative and quantitative case write-ups will be required throughout the semester, as well as a comprehensive final project. We will have guest speakers throughout the semester.

**ECON 1805. Economics in the Laboratory**.

There is a growing literature on experimental economics, which sheds light on whether the predictions of economic theory materialize in controlled, laboratory settings. We will start by studying the methodology of experimental economics. We then examine a range of classic and more recent topics that have been taken to the laboratory. Topics of interest will include fairness, bargaining, behavior in games and the impact of repeated interactions, rationality of decision-making, and the impact of communication, among others.

**ECON 1820. Theory of Behavioral Economics**.

This course provides a formal introduction to behavioral economics, focusing mostly on individual decision making. For different choice domains, we start by analyzing the behavior implied by benchmark models used by economists (e.g. rational choice, expected utility, exponential discounting). Experimental and empirical evidence is then used to highlight some limitations of these models, and to motivate new models that have been introduced to account for these violations. We will cover, for instance, models of limited attention, non-expected utility, and hyperbolic discounting.

**ECON 1825. Behavioral Economics and Public Policy**.

This course explores ways that psychological research indicating systematic departures from classical economic assumptions can be translated into formal models that can be incorporated into economics. The course will emphasize careful interpretation and production of new evidence on relevant departures, formalizing this evidence into models that can generate sharp predictions using traditional economic approaches, and exploring implications of those models for public policy.

**ECON 1830. Behavioral Finance**.

Over the past several decades, the field of finance has developed a successful paradigm based on the notions that investors and managers are generally rational and that the prices of securities are generally “efficient.” In recent years, however, theoretical and empirical research has shown this paradigm to be insufficient in describing the various features of actual financial markets. In this course we will examine how the insights of behavioral finance complement the traditional paradigm and shed light on the behavior of asset prices, corporate finance, financial crises, and other phenomena.

Spr | ECON1830 | S01 | 25769 | TTh | 9:00-10:20(05) | (R. La Porta) |

**ECON 1850. Theory of Economic Growth**.

This course explores the origins of wealth and inequality across the globe. It examines: (i) the determinants of the growth process since the emergence of Homo sapiens, (ii) the roots of the dramatic transformation in living standards in the past two centuries, and (iii) the role of deeply rooted geographical, institutional, and cultural characteristics as well as human diversity in the uneven development across the countries and regions. The analysis proposes a resolution for some of the most fundamental mysteries of the journey of humanity: What trapped humankind in poverty for most of human existence? What sparked the massive metamorphosis in living standards over the past two centuries? And what led to the emergence of immense inequality across nations?

Spr | ECON1850 | S01 | 25770 | TTh | 1:00-2:20(08) | (O. Galor) |

**ECON 1860. The Theory of General Equilibrium**.

Existence and efficiency of equilibria for a competitive economy; comparative statistics; time and uncertainty.

Fall | ECON1860 | S01 | 18166 | TTh | 2:30-3:50(12) | (R. Vohra) |

**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.

Fall | ECON1870 | S01 | 17225 | MW | 8:30-9:50(09) | (R. Serrano) |

**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 developing and writing their thesis. Particular focus will be on data analysis, identifying appropriate literature and testing hypotheses. Each student must find a thesis advisor with interests related to their topic. Students will plan to enroll in this course in both semesters.

Note this course does not count toward Economics concentration credit.

Fall | ECON1960 | S01 | 18784 | Arranged | (E. Oster) | |

Spr | ECON1960 | S01 | 26782 | Arranged | (E. Oster) |

**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.

**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 | 16931 | MW | 1:00-2:20(08) | (A. Poterack) |

**ECON 2020. Applied Economics Analysis**.

This course introduces students to basic concepts in software engineering and scientific computing as preparation for conducting frontier research in all fields of economics. Topics in software engineering will include version control, automation, abstraction, parallel processing, and object-oriented programming. Topics in scientific computing and numerical methods will include programming basics, floating-point arithmetic, numerical differentiation and integration, equation-solving, and numerical optimization. Coding will be in Python and applications will focus on topics likely to arise in economics research. Key concepts will be introduced in interactive lectures and reinforced in in-class group work and at-home assignments.

Spr | ECON2020 | S01 | 25609 | TTh | 10:30-11:50(09) | (T. Kitagawa) |

**ECON 2030. Introduction to Econometrics I**.

The probabilistic and statistical basis of inference in econometrics.

Fall | ECON2030 | S01 | 16933 | TTh | 9:00-10:20(05) | (S. Schennach) |

**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 | 25610 | MW | 1:00-2:20(06) | (T. Kitagawa) |

**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 | 16934 | MW | 10:30-11:50(14) | (R. Serrano) |

**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 | 25611 | TTh | 1:00-2:20(08) | (R. Vohra) |

**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 | 16935 | TTh | 10:30-11:50(13) | (F. Duarte) |

**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 | 25612 | MW | 10:30-11:50(03) | (G. Eggertsson) |

**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.

**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.

**ECON 2140. Economic Modeling for Applied Economists**.

The purpose of this course is to develop formal tools for building formal, theoretical economic models to support empirical research. This class is aimed at graduate students conducting applied research who have begun conducting independent research. The class will first introduce and review important topics from game theory used in constructing models, but with an applied focus, taking into account common data restrictions and limitations. Emphasis will be placed on tools which can be used to complement existing research goals. Students will be expected to participate in class discussions, weekly assignments, and presentations/reviews of existing papers. Class time will be split between lectures and group discussions/presentations. The main deliverable for the course is to add a formal modeling section to an existing/ongoing independent research project.

Fall | ECON2140 | S01 | 18568 | M | 9:30-12:00(01) | (B. Pakzad-Hurson) |

**ECON 2150. Market Design**.

This is a theoretical course in market design, specifically studying the theory and applications of matching. It is designed for students interested in market and mechanism design, and may also be of interest to students interested in utilizing applied theory in their research. The course will begin with an overview of matching markets, but will quickly move to recent advances and open research topics.

**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.

**ECON 2170. Applied Economic Theory**.

In this course we will survey some classic theoretical papers published post-1980, drawn from a variety of fields in economics. Our emphasis will be on mastering modeling techniques in these papers, with an eye toward applying those techniques to new problems. The papers fall within the broad areas of industrial organization, information economics and the theory of incentives.

**ECON 2180. Game Theory**.

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

**ECON 2190A. Cooperative Game Theory**.

No description available.

**ECON 2190B. General Equilibrium Theory**.

No description available.

**ECON 2190C. Topics in Economic Theory**.

No description available.

**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.

**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.

**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.

**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.

**ECON 2270. Political Economy II**.

This is the second course in the political economy sequence. It continues the theoretical and empirical coverage of the economic analysis to political behavior and institutions. This course is designed for students wishing to specialize in political economy. A variety of topics will be covered paying special attention to the formation of skills necessary to become a producer of research and moving away from being just a consumer.

**ECON 2310. Labor Economics**.

This course teaches core topics in labor economics including labor supply, labor demand, simple search models, and a series of additional selected topics. The primary focus will be on linking theoretical models to tests in the empirical literature. We will typically cover papers and topics in detail, rather than survey the literature. When required, we also cover tools in applied econometrics.

Fall | ECON2310 | S01 | 17232 | F | 9:30-11:50(14) | (M. Pecenco) |

**ECON 2320. Applied Methods**.

This course examines identification issues in empirical microeconomics. The focus on the sensible application of econometric methods to empirical problems in economics and policy research. The course examines issues that arise when analyzing non-experimental data and provides a guide for tools that are useful for applied research. 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.

**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.

**ECON 2340. Labor Economics II**.

This is the second course in a two-course, graduate-level sequence in labor economics. The course will focus on covering theory and evidence on wage structures, skill demands, inequality, employment and job loss. Particular areas of focus are: (1) wage determination, equalizing wage differentials, and models of discrimination; and (2) the roles played by supply, demand, labor market institutions, and technology in the evolving distribution of earnings.

Spr | ECON2340 | S01 | 26652 | MW | 9:00-10:20(02) | (L. Lagos) |

**ECON 2350. Inequality and Social Policy**.

This is a survey course about economic and social inequality with a focus on the applied methods used to examine inequality. The course will provide a broad perspective on the causes and consequences of inequality, develop an understanding of the data and methods used to measure and analyze changes in income and wellbeing, and review selected topics relating to anti-poverty and social policy programs.

**ECON 2350B. Inequality and Public Policies**.

This course on economic inequality provides an overview of the most recent empirical research on the extent, the anatomy and the historical evolution of inequality. In addition to these descriptives, it focuses on the causes of inequality, covering research designs from the research frontier. The course also reviews the role of government policies, such as anti-poverty programs and progressive taxes on income and on capital, in affecting inequality.

**ECON 2360. Economics of Health and Population**.

This course is designed to do the following three things: 1) build on your knowledge of the methodological problems and approaches in applied microeconomics with applications from the health economics literature; 2) survey the major topics in Health Economics, and 3)better prepare you to write an empirical microeconomics thesis. By the end of this course you should understand how to draw credible inference using non-experimental data and be able to contribute to public policy debates regarding health and medical care in the US.

**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.

**ECON 2380. The Economics of Children and Families**.

We will consider the current research in economic behavior related to children, child health, and child economic and social well-being. We begin with the model of human capital development and the technology of skill formation and then proceed to empirical work. Individual topics covered will include: models of human capital and the technology of skill formation, the fetal origins of disease, non-marital and teen fertility, the evolution of gaps in human capital, models of parental investment, pre-school environments, the impact of income and in-kind transfer programs on child health and well-being, neighborhood influences, adolescent risky behavior.

**ECON 2390. Applied Econometrics I**.

The main focus of this course is on econometrics methods for causal inference, program evaluations, and evidence-based policy design, which has become essential tools for empirical work in economics. This course covers a variety of empirical study designs, and for each design, introduces suitable econometric methods. They include randomized control trials, observational studies with unconfoundedness, instrumental variable methods, regression discontinuity designs, panel data designs and difference-in-differences, empirical welfare maximization methods, etc. The course assumes knowledge of statistics and econometrics at the level of first-year Ph.D econometrics courses such as ECON 2030 and ECON 2040.

Fall | ECON2390 | S01 | 18569 | TTh | 9:00-10:20(05) | (T. Kitagawa) |

**ECON 2400. Applied Econometrics II**.

This is the second half of a two-semester graduate-level course on applied econometrics, which builds on core material from econometric theory as well as second-year applied microeconomics field courses. We will focus on the “sensible” application of various econometric methods to empirical problems in economics and policy research, primarily in non-experimental data. By the end of the course, students should have a firm grasp of the research designs and methods that are commonly used to address selection/endogeneity problems in empirical economics and be comfortable working with large-scale data sets. The primary assignment in the course is the production of an original research paper, with an in-class presentation. Other assignments will include a replication exercise and a referee report.

Spr | ECON2400 | S01 | 26577 | TTh | 9:00-10:20(05) | (P. Hull) |

**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 | 25613 | MW | 1:00-2:20(06) | (M. Turner) |

**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.

**ECON 2450. Exchange Scholar Program**.

Fall | ECON2450 | S01 | 15854 | Arranged | 'To Be Arranged' | |

Fall | ECON2450 | S02 | 15855 | Arranged | 'To Be Arranged' | |

Spr | ECON2450 | S01 | 24668 | Arranged | 'To Be Arranged' |

**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.

**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.

**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.

**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.

**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. The two development courses (2510 and 2520) may be taken in any order. Students doing development as a major field are expected to complete both.

Spr | ECON2510 | S01 | 25614 | MW | 10:30-11:50(03) | (E. Macchi) |

**ECON 2520. Economic Development II**.

This course explores questions around history, learning, industry, infrastructure, credit, savings, and behavioral economics in developing societies. It also considers how large, new datasets ('big data') can be used to understand and improve the lives of the poor. The two development courses (2510 and 2520) may be taken in any order. Students doing development as a major field are expected to complete both.

Fall | ECON2520 | S01 | 17234 | T | 1:00-3:20(01) | (D. Bjorkegren) |

**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. Junior and seniors in the APMA-Economics, Math-Economics and CS-Economics may enroll with instructor's permission.

**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.

**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.

**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 | 17274 | Th | 1:00-3:20(06) | (A. Norets) |

**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.

**ECON 2620. Topics in Econometrics**.

This course will begin with a survey of the literature on identification using instrumental variables, including identification bounds, conditional moment restrictions, and control function approaches. The next part of class will cover some of the theoretical foundations of machine learning, including regularization and data-driven choice of tuning parameters. We will discuss in some detail the canonical normal means model, Gaussian process priors, (empirical) Bayes estimation, and reproducing kernel Hilbert space norms. We will finally cover some selected additional topics in machine learning, including (deep) neural nets, text as data (topics models), multi-armed bandits, and data visualization.

**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.

Spr | ECON2630 | S01 | 25615 | F | 9:00-11:20(02) | (S. Schennach) |

**ECON 2640. Microeconometrics**.

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

**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.

**ECON 2800. Macroeconomic Slack**.

This course will cover research topics related to macroeconomic slack, both on the labor market (unemployment) and on the product market (idleness). It will address the following questions:

Why does slack exist at the macroeconomic level?

Why does slack vary over time? And how is this related to price flexibility or rigidity?

What is the socially optimal level of slack?

How should monetary policy respond to fluctuations in slack over the business cycle?

How should fiscal policy respond to fluctuations in slack over the business cycle?

What happens to slack at the zero lower bound?

Fall | ECON2800 | S01 | 17655 | W | 1:00-3:20(01) | (P. Michaillat) |

**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.

**ECON 2830. Economic Growth and Comparative Development**.

This course explores the origins of wealth and inequality across the globe. It examines: (i) the determinants of the growth process since the emergence of Homo sapiens, (ii) the roots of the dramatic transformation in living standards in the past two centuries, and (iii) the role of deeply rooted geographical, institutional, and cultural characteristics as well as human diversity in the uneven development across the countries and regions. The analysis proposes a resolution for some of the most fundamental mysteries of the journey of humanity: What trapped humankind in poverty for most of human existence? What sparked the massive metamorphosis in living standards over the past two centuries? And what led to the emergence of immense inequality across nations?

**ECON 2840. Empirical Analysis of Economic Growth**.

Examines economic growth, focusing on the effects of technological change, fertility, income inequality, and government policy.

**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.

**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.

Fall | ECON2860 | S01 | 17238 | T | 4:00-6:30(07) | (S. Michalopoulos) |

**ECON 2890C. Topics in Macro and Monetary Economics**.

This is a graduate class that covers selected topics at the intersection of macroeconomics and monetary economics, for students in the second year of the PhD and above. The leading theme of the class is the current economic crisis and how it can be modeled. The syllabus is evolving.

Spr | ECON2890C | S01 | 25659 | F | 1:00-3:20(06) | (G. Eggertsson) |

**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.

**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).

**ECON 2920B. Topics in Game Theory**.

No description available.

**ECON 2930. Workshop in Applied Economics**.

No description available.

Fall | ECON2930 | S01 | 18549 | Th | 4:00-5:30(04) | 'To Be Arranged' |

Spr | ECON2930 | S01 | 26704 | Th | 4:00-5:30(17) | (B. Steinberg) |

**ECON 2950. Workshop in Econometrics**.

No description available.

Fall | ECON2950 | S01 | 18550 | T | 4:00-5:30(07) | 'To Be Arranged' |

Spr | ECON2950 | S01 | 26705 | T | 4:00-5:30(16) | (J. Roth) |

**ECON 2960. Workshop in Macroeconomics and Related Topics**.

No description available.

Fall | ECON2960 | S01 | 18551 | W | 4:00-5:30(10) | 'To Be Arranged' |

Spr | ECON2960 | S01 | 26706 | W | 4:00-5:30(10) | (G. Eggertsson) |

**ECON 2970. Workshop in Economic Theory**.

No description available.

Fall | ECON2970 | S01 | 18552 | M | 4:00-5:30(03) | 'To Be Arranged' |

Spr | ECON2970 | S01 | 26707 | M | 4:00-5:30(13) | (B. Pakzad-Hurson) |

**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.

**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.

**ECON 2990. Thesis Preparation**.

For graduate students who have met the residency requirement and are continuing research on a full time basis.

Fall | ECON2990 | S01 | 15856 | Arranged | 'To Be Arranged' | |

Spr | ECON2990 | S01 | 24669 | Arranged | 'To Be Arranged' |

### Chair

John N. Friedman

### Professor

Anna Aizer

Maurice R. Greenberg Professor of Economics

Kenneth Chay

Professor of Economics

Pedro Dal Bo

Professor of Economics

Geoffroy De Clippel

Professor of Economics

Gauti B. Eggertsson

Professor of Economics

Allan Maurice Feldman

Professor Emeritus of Economics

Andrew D. Foster

George S. and Nancy B. Parker Professor of Economics

John N. Friedman

PDBF Distinguished Professor of Economics, Professor of International and Public Affairs

Oded Galor

Herbert H. Goldberger Professor of Economics

J. Vernon Henderson

Eastman Professor Emeritus of Political Economy and Urban Studies

Peter W. Howitt

Professor Emeritus of Economics

Brian G. Knight

Professor of Economics

Anthony Lancaster

Herbert H. Goldberger Professor Emeritus of Economics

Rafael I. La Porta

Robert and Nancy Carney Professor of Economics

Glenn C. Loury

Merton P. Stoltz Professor of Social Sciences, Professor of Economics, Professor of International and Public Affairs

Stelios Michalopoulos

Eastman Professor of Political Economy

Andriy Norets

Professor of Economics

Emily F. Oster

JJE Goldman Sachs University Professor of Economics and International and Public Affairs

Talbot Page

Professor Emeritus of Economics and Professor Emeritus of Environment and Society

Christina Paxson

Professor of Economics and International and Public Affairs

Mark M. Pitt

Professor Emeritus of Economics

Louis Putterman

Professor of Economics

Kareen Rozen

Professor of Economics

Susanne Schennach

Professor of Economics

Roberto Serrano

Harrison S. Kravis University Professor of Economics

Matthew A. Turner

Professor of Economics

John H. Tyler

Professor Emeritus of Education

Rajiv Vohra

Ford Foundation Professor of Economics

David N. Weil

James and Meryl Tisch Professor of Economics

### Associate Professor

Toru Kitagawa

Associate Professor of Economics

Pascal Michaillat

Associate Professor of Economics

John P. Papay

Associate Professor of Education

### Assistant Professor

Daniel C. I. Bjorkegren

Assistant Professor of Economics

Jesse Bruhn

Annenberg Assistant Professor of Education and Economics

Jack A. Fanning

Michael Wu Assistant Professor of Economics

Amy Handlan

Yang Family Assistant Professor of Economics

Peter Hull

Groos Family Assistant Professor of Economics

Yann Koby

Assistant Professor of Economics

Soonwoo Kwon

Assistant Professor of Economics

Lorenzo Lagos

Assistant Professor of Economics

Teddy Mekonnen

Orlando Bravo Assistant Professor of Economics

Bobby Pakzad-Hurson

Jonathan M. Nelson Assistant Professor of Economics and Entrepreneurship

Matthew Pecenco

Orlando Bravo Assistant Professor of Economics

Jonathan Roth

Assistant Professor of Economics

Bryce Steinberg

IJC Assistant Professor of Economics and International and Public Affairs

Neil Thakral

Nancy Donohue and Diane Elam Assistant Professor of International and Public Affairs and Economics

### Visiting Assistant Professor

Fernando Duarte

Visiting Assistant Professor of Economics

### Distinguished Senior Lecturer

Rachel M. Friedberg

Distinguished Senior Lecturer in Economics

### Senior Lecturer

Kellie Forrester

Senior Lecturer in Economics

Sylvia Kuo

Senior Lecturer in Economics

### Lecturer

Daniel J. D'Amico

Lecturer in Economics

Bradford Martin Gibbs

Urry and Comfort Family Lecturer in Economics

Manuel Lancastre

Lecturer in Economics

Alex Poterack

Steven Rattner Lecturer in Economics

### Visiting Scholar

Cristina Borra Marcos

Visiting Scholar in Economics

Evangelos Dioikitopoulos

Visiting Scholar in Economics

Haoran He

Visiting Scholar in Economics

Qian Weng

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 stepping-stone to employment in business, finance, non-profit, and government organizations. Students may choose the standard concentration, the business track, or the public policy track, all of which have a corresponding professional track. If you are interested in declaring a concentration in Economics, please refer to this page for more information regarding the process.

Students are required to begin with ECON 0110, an introductory course that stresses current economic issues, and the concepts and principles of economic analysis. Intermediate level courses in microeconomics (ECON 1110 or ECON 1130), macroeconomics (ECON 1210), and econometrics (ECON 1620 followed by ECON 1629 or ECON 1630 ) round out the list of foundation courses for the concentration. Economics concentrators must also fulfill a math requirement (ECON 0170).

The economics department sponsors a number of concentration options. The most popular is the standard economics concentration, described below. The standard concentration has an optional Business Economics track, also 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, mathematical-economics , and 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. The BEO concentration and all of its current BEO track offerings remain in place through the class of 2023, after which it will be discontinued. Please contact the BEO administrator for more details, including information about advising in that concentration.

### Standard Economics Concentration

ECON 0110 | Principles of Economics ^{1} | 1 |

ECON 0170 | Essential Mathematics for Economics | 1 |

or MATH 0100 | Single Variable Calculus, Part II | |

or a higher-level math course. ^{2} | ||

ECON 1110 | Intermediate Microeconomics | 1 |

or ECON 1130 | Intermediate Microeconomics (Mathematical) | |

ECON 1210 | Intermediate Macroeconomics | 1 |

ECON 1620 | Introduction to Econometrics | 1 |

or MATH 1620 | Mathematical Statistics | |

or APMA 1650 | Statistical Inference I | |

or APMA 1655 | Honors Statistical Inference I | |

ECON 1629 | Applied Research Methods for Economists | 1 |

or ECON 1630 | Mathematical Econometrics I | |

At least five additional 1000-level Economics courses. ^{3} | 5 | |

Total Credits | 11 |

^{1} | Students who place out of ECON 0110 on the basis of qualifying scores on the AP, IB, or A-level exams must take an additional 1000-level course (6 instead of 5). |

^{2} | Students can satisfy the mathematics requirement with qualifying scores on the AP, IB, or A-level exams (but not the math department's self placement exam). Note that certain advanced economics courses may impose additional math prerequisites. |

^{3} | Students may apply, at most, one Economics course whose number is in the range of 1000 to 1099 toward the concentration. Note that ECON 1960 (thesis course) and ECON 1970 (independent research), do not count toward the concentration. |

### Business Economics Track

ECON 0110 | Principles of Economics ^{1 } | 1 |

ECON 0170 | Essential Mathematics for Economics | 1 |

or MATH 0100 | Single Variable Calculus, Part II | |

or a higher level math course | ||

ECON 0710 | Financial Accounting | 1 |

ECON 1110 | Intermediate Microeconomics | 1 |

or ECON 1130 | Intermediate Microeconomics (Mathematical) | |

ECON 1210 | Intermediate Macroeconomics | 1 |

ECON 1420 | Industrial Organization ^{2} | 1 |

ECON 1620 | Introduction to Econometrics | 1 |

or APMA 1650 | Statistical Inference I | |

or APMA 1655 | Honors Statistical Inference I | |

or MATH 1620 | Mathematical Statistics | |

ECON 1629 | Applied Research Methods for Economists | 1 |

or ECON 1630 | Mathematical Econometrics I | |

ECON 1710 | Investments I | 1 |

ECON 1720 | Corporate Finance | 1 |

Two Business Economics electives from the following list: | 2 | |

Introduction to Game Theory | ||

Labor Economics | ||

The Economics of Mass Media | ||

Economic Organizations and Economic Systems | ||

Antitrust and Competition | ||

Bargaining Theory and Applications | ||

Designing Internet Marketplaces | ||

International Trade | ||

International Finance | ||

Big Data | ||

Venture Capital, Private Equity, and Entrepreneurship | ||

Mathematical Finance | ||

Investments II | ||

Financial Institutions | ||

Advanced Topics in Corporate Finance | ||

Theory of Behavioral Economics | ||

Behavioral Finance | ||

Game Theory and Applications to Economics | ||

Total Credits | 12 |

^{1} | Students who place out of ECON 0110 on the basis of qualifying scores on the AP, IB, or A level exams must take a sixth 1000-level Economics elective (which need not come from the Business Economics group). Note that at most one economics elective in the 1000-1099 range may be applied towards the concentration. |

^{2} | Or Econ 1460, if previously taken (it is not being offered in the near future). |

^{3} | Students can satisfy the mathematics requirement with qualifying scores on the AP, IB, or A-levels exams (but not the Math department's self placement exam). Note the certain advanced economics courses may impose additional math prerequisites. |

^{4} | Students may apply, at most, one Economics course whose number is in the range of 1000 to 1099 toward the concentration. Note that ECON 1960 (thesis course) and ECON 1970 (independent research), do not count toward the concentration. |

### Public Policy Track

ECON 0110 | Principles of Economics ^{1} | 1 |

ECON 0170 | Essential Mathematics for Economics ^{2} | 1 |

or MATH 0100 | Single Variable Calculus, Part II | |

ECON 1110 | Intermediate Microeconomics | 1 |

or ECON 1130 | Intermediate Microeconomics (Mathematical) | |

ECON 1210 | Intermediate Macroeconomics | 1 |

ECON 1620 | Introduction to Econometrics ^{3} | 1 |

ECON 1629 | Applied Research Methods for Economists | 1 |

or ECON 1630 | Mathematical Econometrics I | |

Five Public Policy Electives from the list below: | 5 | |

Using Big Data to Solve Economic and Social Problems | ||

Race, Crime, and Punishment in America | ||

Unemployment: Models and Policies | ||

Labor Economics | ||

Economics of Global Warming | ||

Environmental Economics and Policy | ||

Environmental Issues in Development Economics | ||

Health Economics | ||

Race and Inequality in the United States | ||

Intergenerational Poverty in America | ||

Inequality of Income, Wealth, and Health in the United States | ||

Urban Economics | ||

Industrial Organization | ||

The Economics of Social Policy | ||

Public Economics | ||

Current Global Macroeconomic Challenges | ||

Health, Hunger and the Household in Developing Countries | ||

International Trade | ||

International Finance | ||

Economic Growth | ||

The Economics of Latin Americans | ||

Education, the Economy and School Reform | ||

Interdisciplinary requirement. Two courses outside of the economics department that relate to better understanding the implementation and/or evaluation of public policies (may be below or above 1000-level).Several departments offer such courses, and availability varies from year to year. Some pre-approved options are | 2 | |

Health Inequality in Historical Perspective | ||

Making Decisions | ||

Social Psychology | ||

Introduction to Public Policy | ||

Health Care in the United States | ||

Public Health Policy | ||

Fundamentals of Epidemiology | ||

Introduction to the American Political Process | ||

Ethics and Public Policy | ||

Gender and Public Policy | ||

Remaking the City | ||

The City: An Introduction to Urban Studies | ||

Students may also request advisor permission for other courses | ||

A capstone project. This can be satisfied in different ways: (a) the capstone is automatically fulfilled if one of the public policy electives completed is designated as a capstone course (see the list of capstone courses on the economics department website); or (b) a capstone project is otherwise arranged and completed for a public policy elective; or (c) an honors thesis is completed, under the guidelines of honors in the economics concentration. In cases (a) and (b), a capstone form must be submitted to the department. ^{4} | ||

Total Credits | 13 |

^{1} | Students who place out of ECON 0110 on the basis of qualifying scores on the AP, IB, or A level exams must take a sixth 1000-level Economics elective (which need not come from the Public Policy group). Note that at most one economics elective in the 1000-1099 range may be applied towards the concentration. |

^{2} | Students can satisfy the mathematics requirement with qualifying scores on the AP, IB, or A-levels exams (but not the Math department's self placement exam). Note the certain advanced economics courses may impose additional math prerequisites. |

^{3} | APMA 1650, APMA 1655, CSCI 1450, or MATH 1620 can substitute for ECON 1620 |

^{4} | A complete list of Capstone courses can be found on the Economics Department website. |

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

To graduate with honors, students must satisfy the following requirements **by the end of Junior year**:

- Complete at least 70% of the courses required for the concentration.
- Have earned a grade of "A" or "S with Distinction" in at least 70% of grades earned in the economics concentration (excluding courses transferred to Brown without a grade, and those taken spring 2020). Since S with Distinctions do not appear on the internal academic record or the official transcript, the department will consult directly with the Registrar's Office to confirm a student's grades in concentration courses.
- Secure a faculty thesis advisor in the economics department.

**During Senior year**, thesis writers must:

- Enroll in ECON 1970 with their thesis advisor in the fall and spring semesters (Note thatECON 1970 does not count toward the concentration).
- Submit a thesis proposal to their thesis advisor and the Director of Undergraduate Studies by September 15.
- Submit their work in progress to their thesis advisor by December 20.
- Depending on the nature of the thesis work, the thesis adviser may require the student to successfully complete one or more courses from among the data methods, mathematical economics and/or financial economics course groups in the fall of senior year, if they have not already done so
- Complete an honors thesis by the deadline agreed upon with their advisor and obtain the final approval of their advisor by April 2.
- Thesis writers are encouraged, but not required, to participate in the departmental Honors Thesis Presentation session held in May.

###### Professional Track ^{1}

In addition to fulfilling the other concentration requirements, students on the Professional Track must complete 2-6 months of full-time professional work related to their concentration, with a given internship or job lasting at least one month. International students must declare the professional track of their concentration in order for U.S. based internships to qualify for Curricular Practical Training (CPT). Such work is normally done at a company, but may also be at a university under the supervision of a faculty member. Professional experiences completed over winter break cannot be used to fulfill this requirement. On completion of each professional experience, the student must write and upload to ASK a reflective essay about the experience, to be approved by their concentration advisor.

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

^{1} | International students must declare the professional track of their concentration in order for U.S. based internships to qualify for Curricular Practical Training (CPT). In addition to their other concentration requirements, students must complete two two-to-four month full time professional experiences, doing work that is related to their concentration program. Such work is normally done at a company or a non profit, but may also be at a university under the supervision of a faculty member. Upon completion of each profession experience, the student must write a reflective essay on ASK, to be approved by their concentration advisor. |

## 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. If you are interested in declaring a concentration in Applied Mathematics-Economics, please refer to this page for more information regarding the process.

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

Prerequisites: | ||

Single Variable 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 Modeling | ||

Computing Foundations: Data | ||

Introduction to Object-Oriented Programming and Computer Science | ||

Computer Science: An Integrated Introduction | ||

Accelerated Introduction to Computer Science | ||

Select one of the following: | 1 | |

Operations Research: Probabilistic Models | ||

or APMA 1210 | Operations Research: Deterministic Models | |

Select one of the following: | 1 | |

Statistical Inference I | ||

or APMA 1655 | Honors Statistical Inference I | |

(b) ^{1} | ||

Select one of the following: | 1 | |

An Introduction to Numerical Optimization | ||

Introduction to Numerical Solution of Differential Equations | ||

Operations Research: Probabilistic Models | ||

Operations Research: Deterministic Models | ||

Applied Partial Differential Equations II | ||

Applied Dynamical Systems | ||

Statistical Inference II | ||

Computational Probability and Statistics | ||

Statistical Analysis of Time Series | ||

Nonparametric Statistics | ||

Computational Probability and Statistics | ||

Information Theory | ||

Monte Carlo Simulation with Applications to Finance | ||

Recent Applications of Probability and Statistics | ||

Graphs and Networks | ||

Analysis: Functions of One Variable | ||

APMA 193X, 194X Senior Seminar series, depending on topic ^{6} | ||

Economics Requirements: | 3 | |

Intermediate Microeconomics (Mathematical) ^{3} | ||

Intermediate Macroeconomics | ||

Mathematical Econometrics I | ||

Two 1000-level courses from the "mathematical-economics" group: ^{4} | 2 | |

Welfare Economics and Social Choice Theory | ||

Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies | ||

Unemployment: Models and Policies | ||

Bargaining Theory and Applications | ||

Designing Internet Marketplaces | ||

Topics in Macroeconomics, Development and International Economics | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Investments II | ||

Economics in the Laboratory | ||

Theory of 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: ^{4} | 1 | |

Economics of Education I | ||

Labor Economics | ||

Health, Education, and Social Policy | ||

Economics of Global Warming | ||

Environmental Issues in Development Economics | ||

Health Economics | ||

Inequality of Opportunity in the US | ||

The Economics of Mass Media | ||

The Economics of Social Policy | ||

Public Economics | ||

Economic Development | ||

Health, Hunger and the Household in Developing Countries | ||

Applied Research Methods for Economists | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Behavioral Economics and Public Policy | ||

Behavioral Finance | ||

One additional 1000-level economics course. ^{5} | 1 | |

Total Credits | 13 |

^{1} | No course may be used to simultaneously satisfy (a) and (b). |

^{2} | APMA 0330 and APMA 0340 may be substituted with advisor approval, but these are no longer being offered. |

^{3} | Or ECON 1110 with permission. For students matriculating at Brown in Fall 2021 or later, note that if ECON 1110 is used, then one additional course from the mathematical-economics group will be required |

^{4} | No course may be used to simultaneously satisfy the "mathematical economics" and the "data methods" requirements. |

^{5} | Note that ECON 1620, ECON 1960, and ECON 1970 (independent study) cannot be used for concentration credit. However, 1620 and 1960 can be used for university credit and up to two 1970s may be used for university credit. |

^{6} | Requires written approval of the Director of Undergraduate Studies in Economics. APMA 1910 is not permitted. |

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

Prerequisites: | ||

Single Variable 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 Modeling | ||

Computing Foundations: Data | ||

Accelerated Introduction to Computer Science | ||

Introduction to Object-Oriented Programming and Computer Science | ||

Computer Science: An Integrated Introduction | ||

Select one of the following: | 1 | |

Operations Research: Probabilistic Models | ||

or APMA 1210 | Operations Research: Deterministic Models | |

APMA 1650 | Statistical Inference I | 1 |

or APMA 1655 | Honors Statistical Inference I | |

(b) ^{1} | ||

Select two of the following: | 2 | |

An Introduction to Numerical Optimization | ||

Introduction to Numerical Solution of Differential Equations | ||

Operations Research: Probabilistic Models | ||

Operations Research: Deterministic Models | ||

Applied Partial Differential Equations II | ||

Applied Dynamical Systems | ||

Statistical Inference II | ||

Statistical Analysis of Time Series | ||

Nonparametric Statistics | ||

Computational Probability and Statistics | ||

Information Theory | ||

Monte Carlo Simulation with Applications to Finance | ||

Recent Applications of Probability and Statistics | ||

Graphs and Networks | ||

Analysis: Functions of One Variable | ||

APMA 193X, 194X Senior Seminar series, depending on topic ^{6} | ||

Economics Requirements: | ||

ECON 1130 | Intermediate Microeconomics (Mathematical) ^{3} | 1 |

ECON 1210 | Intermediate Macroeconomics | 1 |

ECON 1630 | Mathematical Econometrics I | 1 |

Three 1000-level courses from the "mathematical-economics" group: ^{4} | 3 | |

Welfare Economics and Social Choice Theory | ||

Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies | ||

Unemployment: Models and Policies | ||

Bargaining Theory and Applications | ||

Designing Internet Marketplaces | ||

Topics in Macroeconomics, Development and International Economics | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Investments II | ||

Economics in the Laboratory | ||

Theory of 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: ^{4} | 1 | |

Economics of Education I | ||

Labor Economics | ||

Health, Education, and Social Policy | ||

Economics of Global Warming | ||

Environmental Issues in Development Economics | ||

Health Economics | ||

Inequality of Opportunity in the US | ||

The Economics of Mass Media | ||

The Economics of Social Policy | ||

Public Economics | ||

Economic Development | ||

Health, Hunger and the Household in Developing Countries | ||

Applied Research Methods for Economists | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Behavioral Economics and Public Policy | ||

Behavioral Finance | ||

Two additional 1000-level economics courses ^{5} | 2 | |

Total Credits | 16 |

^{1} | No course may be used to simultaneously satisfy (a) and (b). |

^{2} | APMA 0330 and APMA 0340 may be substituted with advisor approval, but these are no longer being offered. |

^{3} | Or ECON 1110 with permission. For students matriculating at Brown in Fall 2021 or later, note that if ECON 1110 is used, then one additional course from the mathematical-economics group will be required |

^{4} | No course may be used to simultaneously satisfy the "mathematical economics" and the "data methods" requirements. |

^{5} | Students may apply, at most, one Economics course whose number is in the range of 1000 to 1099 toward the concentration. Note that ECON 1620, ECON 1960, and ECON 1970 (independent study) cannot be used for concentration credit. However, 1620 and 1960 can be used for university credit and up to two 1970s may be used for university credit. |

^{6} | Requires written approval of the Director of Undergraduate Studies in Economics. APMA 1910 is not permitted. |

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

Prerequisites: | ||

Single Variable Calculus, Part II | ||

Linear Algebra | ||

Course Requirements: 13 Courses: 6 Applied Math and 7 Economics | ||

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 Modeling | ||

Computing Foundations: Data | ||

Introduction to Object-Oriented Programming and Computer Science | ||

Computer Science: An Integrated Introduction | ||

Accelerated Introduction to Computer Science | ||

APMA 1200 | Operations Research: Probabilistic Models | 1 |

APMA 1650 | Statistical Inference I | 1 |

or APMA 1655 | Honors Statistical Inference I | |

(b) | ||

Select one of the following: | 1 | |

An Introduction to Numerical Optimization | ||

Introduction to Numerical Solution of Differential Equations | ||

Operations Research: Deterministic Models | ||

Applied Partial Differential Equations II | ||

Applied Dynamical Systems | ||

Statistical Inference II | ||

Statistical Analysis of Time Series | ||

Nonparametric Statistics | ||

Computational Probability and Statistics | ||

Information Theory | ||

Monte Carlo Simulation with Applications to Finance (preferred) | ||

Recent Applications of Probability and Statistics | ||

Graphs and Networks | ||

Analysis: Functions of One Variable | ||

APMA 193X, 194X Senior Seminar series, depending on topic ^{5} | ||

Economics Requirements: | ||

ECON 1130 | Intermediate Microeconomics (Mathematical) ^{3} | 1 |

ECON 1210 | Intermediate Macroeconomics | 1 |

ECON 1630 | Mathematical Econometrics I | 1 |

Select two 1000-level courses from the "financial economics" group: ^{2} | 2 | |

Investments I | ||

Corporate Finance | ||

Venture Capital, Private Equity, and Entrepreneurship | ||

Investments II | ||

Financial Institutions | ||

Advanced Topics in Corporate Finance | ||

Behavioral Finance | ||

Select one 1000-level course from the "mathematical economics" group: ^{2} | 1 | |

Welfare Economics and Social Choice Theory | ||

Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies | ||

Unemployment: Models and Policies | ||

Bargaining Theory and Applications | ||

Designing Internet Marketplaces | ||

Topics in Macroeconomics, Development and International Economics | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Investments II | ||

Economics in the Laboratory | ||

Theory of 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: ^{2} | 1 | |

Economics of Education I | ||

Labor Economics | ||

Health, Education, and Social Policy | ||

Economics of Global Warming | ||

Environmental Issues in Development Economics | ||

Health Economics | ||

Inequality of Opportunity in the US | ||

The Economics of Mass Media | ||

The Economics of Social Policy | ||

Public Economics | ||

Economic Development | ||

Health, Hunger and the Household in Developing Countries | ||

Applied Research Methods for Economists | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Behavioral Economics and Public Policy | ||

Behavioral Finance | ||

Total Credits | 13 |

^{1} | APMA 0330 and APMA 0340 may be substituted with advisor approval, but these are no longer being offered. |

^{2} | No course may be used to simultaneously satisfy the "mathematical economics" and the "data methods" requirements. |

^{3} | Or ECON 1110 with permission. For students matriculating at Brown in Fall 2021 or later, note that if ECON 1110 is used, then one additional course from the mathematical-economics group will be required |

^{4} | Note that ECON 1620, ECON 1960, and ECON 1970 (independent study) cannot be used for concentration credit. However, 1620 and 1960 can be used for university credit and up to two 1970s may be used for university credit. |

^{5} | Requires written approval of the Director of Undergraduate Studies in Economics. APMA 1910 is not permitted. |

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

Prerequisites: | ||

Single Variable Calculus, Part II | ||

Linear Algebra | ||

Course Requirements: 16 courses: 7 Applied Math and 9 Economics | ||

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 Modeling | ||

Computing Foundations: Data | ||

Introduction to Object-Oriented Programming and Computer Science | ||

Computer Science: An Integrated Introduction | ||

Accelerated Introduction to Computer Science | ||

APMA 1200 | Operations Research: Probabilistic Models | 1 |

APMA 1650 | Statistical Inference I | 1 |

or APMA 1655 | Honors Statistical Inference I | |

(b) | ||

Select two of the following: | 2 | |

An Introduction to Numerical Optimization | ||

Introduction to Numerical Solution of Differential Equations | ||

Operations Research: Deterministic Models | ||

Applied Partial Differential Equations II | ||

Applied Dynamical Systems | ||

Statistical Inference II | ||

Statistical Analysis of Time Series | ||

Nonparametric Statistics | ||

Computational Probability and Statistics | ||

Information Theory | ||

Monte Carlo Simulation with Applications to Finance (preferred) | ||

Recent Applications of Probability and Statistics | ||

Graphs and Networks | ||

Analysis: Functions of One Variable | ||

APMA 193X, 194X Senior Seminar series, depending on topic ^{5} | ||

Economics Requirements: | ||

ECON 1130 | Intermediate Microeconomics (Mathematical) ^{3} | 1 |

ECON 1210 | Intermediate Macroeconomics | 1 |

ECON 1630 | Mathematical Econometrics I | 1 |

Select three 1000-level courses from the "financial economics" group: ^{2} | 3 | |

Investments I | ||

Corporate Finance | ||

Venture Capital, Private Equity, and Entrepreneurship | ||

Investments II | ||

Financial Institutions | ||

Advanced Topics in Corporate Finance | ||

Behavioral Finance | ||

Select two 1000-level courses from the "mathematical economics" group: ^{2} | 2 | |

Welfare Economics and Social Choice Theory | ||

Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies | ||

Unemployment: Models and Policies | ||

Bargaining Theory and Applications | ||

Designing Internet Marketplaces | ||

Topics in Macroeconomics, Development and International Economics | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Investments II | ||

Economics in the Laboratory | ||

Theory of 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: ^{2} | 1 | |

Economics of Education I | ||

Labor Economics | ||

Health, Education, and Social Policy | ||

Economics of Global Warming | ||

Environmental Issues in Development Economics | ||

Health Economics | ||

Inequality of Opportunity in the US | ||

The Economics of Mass Media | ||

The Economics of Social Policy | ||

Public Economics | ||

Economic Development | ||

Health, Hunger and the Household in Developing Countries | ||

Applied Research Methods for Economists | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Behavioral Economics and Public Policy | ||

Behavioral Finance | ||

Total Credits | 16 |

^{1} | |

^{2} | |

^{3} | |

^{4} | Note that ECON 1620, ECON 1960, and ECON 1970 (independent study) cannot be used for concentration credit. However, 1620 and 1960 can be used for university credit and up to two 1970s may be used for university credit. |

^{5} | |

### Honors

Applied Math-Economics concentrators who wish to pursue honors must find a primary faculty thesis advisor in either Economics or Applied Math. They will be held to the Honors requirements of their advisor’s department. Joint concentrators in Applied Mathematics-Economics with an Economics thesis advisor should follow the requirements published here, while concentrators with an Applied Math thesis advisor should follow the requirements published here.

### Professional Track

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

Students must complete full-time professional experiences doing work that is related to their concentration programs, totaling 2-6 months, whereby each internship must be at least one month in duration in cases where students choose to do more than one internship experience. Such work is normally done at a company, but may also be at a university under the supervision of a faculty member. Internships that take place between the end of the fall and the start of the spring semesters cannot be used to fulfill this requirement.

On completion of each professional experience, the student must write and upload to ASK a reflective essay about the experience, 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. If you are interested in declaring a concentration in Computer Science-Economics, please refer to this page for more information regarding the process.

### Standard Program for the Sc.B. degree.

Prerequisites (3 courses): | ||

Single Variable Calculus, Part II | ||

Linear Algebra | ||

or MATH 0540 | Linear Algebra With Theory | |

or CSCI 0530 | Coding the Matrix: An Introduction to Linear Algebra for Computer Science | |

Principles of Economics | ||

Required Courses: 17 courses: 8 Computer Science, 8 Economics, and a Capstone | ||

CSCI 1450 | Advanced Introduction to Probability for Computing and Data Science ^{1} | 1 |

or APMA 1650 | Statistical Inference I | |

or APMA 1655 | Honors Statistical Inference I | |

Select one of the following Series: | 2 | |

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.) | ||

Series D | ||

Computing Foundations: Data and Computer Science: An Integrated Introduction | ||

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) | ||

or CSCI 0300 | Fundamentals of Computer Systems | |

Theory of Computation (math) ^{2} | ||

A pair of 1000-level CS courses that, along with the intermediate courses and math courses, satisfy one of the CS Pathways. ^{3} | 2 | |

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 1130 | Intermediate Microeconomics (Mathematical) ^{4} | 1 |

ECON 1210 | Intermediate Macroeconomics | 1 |

ECON 1630 | Mathematical Econometrics I | 1 |

Three courses from the "mathematical economics" group (CSCI 1951K can be counted as one of them, if it has not been used to satisfy the computer science requirements of the concentration and if the student has taken either ECON 1470 or ECON 1870): | 3 | |

Welfare Economics and Social Choice Theory | ||

Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies | ||

Unemployment: Models and Policies | ||

Bargaining Theory and Applications | ||

Designing Internet Marketplaces | ||

Topics in Macroeconomics, Development and International Economics | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Investments II | ||

Economics in the Laboratory | ||

Theory of Behavioral Economics | ||

Theory of Economic Growth | ||

The Theory of General Equilibrium | ||

Game Theory and Applications to Economics | ||

Two additional 1000-level Economics courses excluding 1620, 1960, 1970 ^{5} | 2 | |

One capstone course in either CS or Economics: a one-semester course, normally taken in the student's last semester 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. A senior thesis, which involved two semesters of work, may count as a capstone. | 1 | |

Total Credits | 17 |

^{1} | APMA 1650 or APMA 1655 may be used in place of CSCI 1450 in CS pathway requirements. However, concentration credit will be given for only one of APMA 1650, APMA 1655, and CSCI 1450. |

^{2} | CSCI 1010 may be used either as a math-oriented intermediate course or as an advanced course. CSCI 1010 was formerly known as CSCI 0510: They are the same course and hence only one may be taken for credit. |

^{3} | CS Pathways can be found on the Pathways page. |

^{4} | |

^{5} | Students may apply, at most, one Economics course whose number is in the range of 1000 to 1099 toward the concentration. Note that ECON 1620, ECON 1960, and ECON 1970 (independent study) cannot be used for concentration credit. However, 1620 and 1960 can be used for university credit and up to two 1970s may be used for university credit. |

### Standard Program for the A.B. degree:

Prerequisites (3 courses): | ||

Single Variable Calculus, Part II | ||

Linear Algebra | ||

or MATH 0540 | Linear Algebra With Theory | |

or CSCI 0530 | Coding the Matrix: An Introduction to Linear Algebra for Computer Science | |

Principles of Economics | ||

Required Courses: 13 courses: 7 Computer Science and 6 Economics | ||

CSCI 1450 | Advanced Introduction to Probability for Computing and Data Science | 1 |

or APMA 1650 | Statistical Inference I | |

or APMA 1655 | Honors Statistical Inference I | |

Select one of the following series: | 2 | |

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) | ||

Series D | ||

Computing Foundations: Data and Computer Science: An Integrated Introduction | ||

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) | ||

or CSCI 0300 | Fundamentals of Computer Systems | |

Theory of Computation (math) | ||

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. CSCI 1450 may not be used to satisfy this requirement. | 2 | |

ECON 1130 | Intermediate Microeconomics (Mathematical) ^{1} | 1 |

ECON 1210 | Intermediate Macroeconomics | 1 |

ECON 1630 | Mathematical Econometrics I | 1 |

Three courses from the "mathematical-economics" group: ^{2} | 3 | |

Welfare Economics and Social Choice Theory | ||

Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies | ||

Unemployment: Models and Policies | ||

Bargaining Theory and Applications | ||

Designing Internet Marketplaces | ||

Topics in Macroeconomics, Development and International Economics | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Investments II | ||

Economics in the Laboratory | ||

Theory of Behavioral Economics | ||

Theory of Economic Growth | ||

The Theory of General Equilibrium | ||

Game Theory and Applications to Economics | ||

or any graduate Economics course ^{3} | ||

Total Credits | 13 |

^{1} | |

^{2} | CSCI 1951K can be counted as one of them, if it has not been used to satisfy the computer science requirements of the concentration and if the student has taken either ECON 1470 or ECON 1870. |

^{3} |

### 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. If the primary thesis advisor belongs to Economics (Computer Science), then students must have a reader in the Computer Science (respectively, Economics) department.

### Professional Track

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

Students must complete full-time professional experiences doing work that is related to their concentration programs, totaling 2-6 months, whereby each internship must be at least one month in duration in cases where students choose to do more than one internship experience. Such work is normally done at a company, but may also be at a university under the supervision of a faculty member. Internships that take place between the end of the fall and the start of the spring semesters cannot be used to fulfill this requirement.

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

The Mathematics Economics concentration is designed to give a background in economic theory plus the mathematical tools needed to analyze and develop additional theoretical constructions. The emphasis is on the abstract theory itself. Students may choose either the standard or the professional track, both award a Bachelor of Arts degree. If you are interested in declaring a concentration in Mathematics Economics, please refer to this page for more information regarding the process.

### Standard Mathematics-Economics Concentration

Economics | ||

ECON 1130 | Intermediate Microeconomics (Mathematical) ^{1} | 1 |

ECON 1210 | Intermediate Macroeconomics | 1 |

ECON 1630 | Mathematical Econometrics I | 1 |

Two courses from the "mathematical-economics" group: ^{2} | 2 | |

Welfare Economics and Social Choice Theory | ||

Advanced Macroeconomics: Monetary, Fiscal, and Stabilization Policies | ||

Unemployment: Models and Policies | ||

Bargaining Theory and Applications | ||

Designing Internet Marketplaces | ||

Topics in Macroeconomics, Development and International Economics | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Investments II | ||

Economics in the Laboratory | ||

Theory of Behavioral Economics | ||

Theory of Economic Growth | ||

The Theory of General Equilibrium | ||

Game Theory and Applications to Economics | ||

One course from the "data methods" group: ^{2} | 1 | |

Economics of Education I | ||

Labor Economics | ||

Health, Education, and Social Policy | ||

Economics of Global Warming | ||

Environmental Issues in Development Economics | ||

Health Economics | ||

Inequality of Opportunity in the US | ||

The Economics of Mass Media | ||

The Economics of Social Policy | ||

Public Economics | ||

Economic Development | ||

Health, Hunger and the Household in Developing Countries | ||

Applied Research Methods for Economists | ||

Mathematical Econometrics II | ||

Big Data | ||

Advanced Topics in Econometrics | ||

Machine Learning, Text Analysis, and Economics | ||

Behavioral Economics and Public Policy | ||

Behavioral Finance | ||

Two additional 1000-level economics courses ^{3} | 2 | |

Mathematics | ||

Calculus: MATH 0180 or higher | 1 | |

Linear Algebra - one of the following: | 1 | |

Linear Algebra | ||

Linear Algebra With Theory | ||

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 ^{4} | ||

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 above | 1 | |

Total Credits | 14 |

^{1} | |

^{2} | No course may be "double-counted" to satisfy both the mathematical-economics and data methods requirement. |

^{3} | Students may apply, at most, one Economics course whose number is in the range of 1000 to 1099 toward the concentration. Note that ECON 1620, ECON 1960, and ECON 1970 (independent study) cannot be used for concentration credit. However, ECON 1620 and ECON 1960 can be used for university credit and up to two 1970s may be used for university credit. |

^{4} |

### 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 full-time professional experiences doing work that is related to their concentration programs, totalling 2-6 months, whereby each internship must be at least one month in duration in cases where students choose to do more than one internship experience. Such work is normally done at a company, but may also be at a university under the supervision of a faculty member. Internships that take place between the end of the fall and the start of the spring semesters cannot be used to fulfill this requirement.

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. 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. Effective the 2020-21 academic year the department will also offers a Post-Baccalaureate Certificate in Economics to select cohort of students working as Research Associates within Economics.

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

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