*Economics 970. Tutorial — Sophomore Year
Catalog Number: 7923
Jeffrey A. Miron
Half course (fall term; repeated spring term). Fall: W., 2-3:30. First meeting only September 2, 2009; Spring: M., 2-3:30. First meeting only January 25, 2010.
A series of small seminars focusing on applications of economic theory to real problems.
Note: One term required of all Economics concentrators. Enrollment limited to concentrators.
Prerequisite: Both terms of Social Analysis 10 (or equivalent); Statistics 100, 104, or 110; Economics 1010a or 1011a and current enrollment in Economics 1010b or 1011b.
*Economics 975 (formerly *Economics 980). Tutorial — Theory Review
Catalog Number: 3281
Jeffrey A. Miron
Half course (fall term). Tu., Th., 1-2:30.
A thorough review of intermediate microeconomics and macroeconomics.
Note: Required of and limited to concentrators who received below a B-/C+ average in the Economics 1010/1011 sequence.
*Economics 985c. Research in Labor Economics
Catalog Number: 5409
Jeffrey A. Miron and members of the Department
Full course. W., 1–3. EXAM GROUP: Fall: 6, 7
Workshop for seniors writing theses in labor economics and related topics. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.
*Economics 985d. Research in Economic Development
Catalog Number: 4989
Jeffrey A. Miron and members of the Department
Full course. W., 2:30–4:30.
Workshop for seniors writing theses in the areas of economic history and economic development, including health and population issues. Emphasis on choice of research topics, methodologies, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.
*Economics 985e. Research in Macroeconomics
Catalog Number: 3740
Jeffrey A. Miron and members of the Department
Full course. M., 4–6.
Workshop for seniors writing theses in the fields of monetary and fiscal policy, business cycles, and economic growth. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.
*Economics 985f. Research in International Trade and Finance
Catalog Number: 7157
Jeffrey A. Miron and members of the Department
Full course. W., 3–5. EXAM GROUP: 8, 9
Workshop for seniors writing theses in international trade and finance. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.
*Economics 985g. Research in Behavioral and Experimental Economics
Catalog Number: 2566
Jeffrey A. Miron and members of the Department
Full course. Tu., 4–6.
Workshop for seniors writing theses in behavioral and experimental economics. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.
*Economics 985h. Research in Financial Markets
Catalog Number: 0350
Jeffrey A. Miron and members of the Department
Full course. Th., 4–6.
Workshop for seniors writing theses in finance. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honor thesis are required. Topics include asset pricing and corporate finance.
*Economics 985k. Research in Public Economics
Catalog Number: 0871
Jeffrey A. Miron and members of the Department
Full course. Th., 3–5.
Workshop for seniors writing theses in public economics. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required. Topics have included taxation, health economics, environmental and resource economics, and education.
*Economics 990. Tutorial — Senior Year
Catalog Number: 7342
Jeffrey A. Miron and members of the Department
Full course. Hours to be arranged.
Note: Students who are writing a senior thesis out of sequence (i.e., beginning in the spring) must enroll in Economics 990 in the spring and complete the course in the fall. Students must write a 25-page paper at the end of the first term of Economics 990. Students currently enrolled in Economics 985 may not enroll in Economics 990.
Economics 1010b. Macroeconomic Theory
Catalog Number: 2924
Christopher L. Foote
Half course (spring term). M., W., F., at 9, and a one-hour weekly section to be arranged. EXAM GROUP: 2
Theories and evidence on economic growth and fluctuations. Determination of gross domestic product, investment, consumption, employment, and unemployment. Analysis of interest rates, wage rates, and inflation. Roles of fiscal and monetary policies. Extensions to the international economy.
Note: Economics 1010b fulfills the intermediate macroeconomic theory requirement for Economics concentrators. Students may take either Economics 1010b or Economics 1011b for credit. This course, when taken for a letter grade, meets the General Education requirement for Empirical and Mathematical Reasoning or the Core area requirement for Social Analysis.
Prerequisite: Social Analysis 10. While no specific mathematics course is required, knowledge of calculus at the level of Mathematics 1a is assumed.
Economics 1011a. Microeconomic Theory
Catalog Number: 7230
Edward L. Glaeser
Half course (fall term). Tu., Th., 11:30-1. EXAM GROUP: 13, 14
Economics 1011a is similar to Economics 1010a, but more mathematical and covers more material. The course teaches the basic tools of economics and to apply them to a wide range of human behavior. Tools include consumer theory, optimization under uncertainty, game theory, welfare economics, incentive theory, and the economics of information. Topics include industrial organization, public finance, law and economics, the economics of the family, religion, and riots.
Note: Economics 1011a fulfills the intermediate microeconomic theory requirement for Economics concentrators. Students may take either Economics 1010a or Economics 1011a for credit. This course, when taken for a letter grade, meets the General Education requirement for Empirical and Mathematical Reasoning or the Core area requirement for Social Analysis.
Prerequisite: Mathematics 21a or permission of the instructor.
Economics 1011b. Macroeconomic Theory
Catalog Number: 6993
David I. Laibson and Philippe Aghion
Half course (spring term). Tu., Th., 10-11:30, and a one-hour weekly section to be arranged. EXAM GROUP: 12, 13
The same topics as in 1010b, but with a more mathematical approach.
Note: Economics 1011b fulfills the intermediate macroeconomic theory requirement for Economics concentrators. Students may take either Economics 1010b or Economics 1011b for credit. This course, when taken for a letter grade, meets the General Education requirement for Empirical and Mathematical Reasoning or the Core area requirement for Social Analysis.
Prerequisite: Economics 1011a, Mathematics 21a, or permission of the instructor.
[Economics 1017. A Libertarian Perspective on Economic and Social Policy]
Catalog Number: 1197
Instructor to be determined
Half course (spring term). Hours to be arranged.
Analyses the libertarian perspective on economic and social policy. This perspective differs from both liberal and conservative views, arguing for minimal government in most arenas. Policies addressed include drug prohibition, gun control, public education, abortion rights, gay marriage, income redistribution, and campaign finance regulation.
Note: Expected to be given in 2010–11.
Prerequisite: Social Analysis 10a and concurrent enrollment in Social Analysis 10b.
Economics 1018. Cultural Economics
Catalog Number: 1775
Alberto F. Alesina
Half course (fall term). Tu., Th., 10–11:30. EXAM GROUP: 12, 13
Explores the importance of culture on economic outcomes, focusing on how heterogeneity of preferences affects economic choices and where those differences come from. Theoretical topics include group identity, social interactions and networks, evolutionary selection, the importance of the family. Empirical applications include international investment, savings, occupational choices, ethical norms, economic development, fertility decisions.
Prerequisite: Economics 1010a or 1011a, and Economics 1123.
[Economics 1030. Psychology and Economics]
Catalog Number: 4709
Instructor to be determined
Half course (spring term). Hours to be arranged.
Psychological concepts include social preferences, impulsivity, bounded rationality, loss-aversion, over-confidence, self-serving biases, hedonics, and neuroscience. Economic concepts include arbitrage, equilibrium, rational choice, utility maximization, Bayesian beliefs, game theory. Integrates these psychological and economic concepts to understand behavioral phenomena such as portfolio choice, saving, procrastination, addiction, asset pricing, auction bidding, labor supply, cooperation, persuasion.
Note: Expected to be given in 2010–11.
Prerequisite: Social Analysis 10 and knowledge of univariate calculus.
Economics 1032. The Packing Problem: The Behavioral Economics of Scarcity - (New Course)
Catalog Number: 48309
Sendhil Mullainathan
Half course (spring term). W., 2–4. EXAM GROUP: 7, 8
Why do highly successful people have a rush of energy and get things done at the last minute? Why didn’t they have that rush earlier? Why does poverty persist around the world? Why is obesity rampant? This course argues that all these questions can be understood by understanding the behavioral economics of scarcity. The course will span concepts from mathematics of computation, psychology, evolutionary biology to numerous economic applications.
Note: A research paper is required, but this course
does not fulfill the concentrators writing requirement.
Prerequisite: Social Analysis 10, an introductory course in Psychology, and Statistics 100, 101 or 104.
[Economics 1035. Policy Applications of Psychology and Economics ]
Catalog Number: 1687 Enrollment: Limited to 30.
Instructor to be determined
Half course (fall term). Hours to be arranged.
Integrates psychological with economic approaches to traditional public policy issues. International applications include public health, epidemics such as AIDS, fertility, education and psychological impacts of poverty. Domestic applications include discrimination and affirmative action, drugs, crime and unemployment.
Note: Expected to be given in 2010–11.
Prerequisite: Economics 1010a or 1011a.
[Economics 1051. Introduction to Game Theory]
Catalog Number: 3692
Attila Ambrus
Half course (spring term). Hours to be arranged.
Presents an introduction to the modern game theory, focusing on its use in economics. Main ideas of game theory are introduced and illustrated using examples from industrial organization, labor economics, and macroeconomics.
Note: Expected to be given in 2010–11. Students may not take both Economics 1051 and Economics 1052 for credit.
Prerequisite: Economics 1010a or 1011a.
Economics 1052. Advanced Game Theory
Catalog Number: 2634
Markus M. Möbius
Half course (spring term). Tu., Th., 10–11:30. EXAM GROUP: 12, 13
Introduction to game theory and its applications to economics at a high level of rigor. Topics include extensive form and strategic form games, Nash’s equilibrium and existence theorem, subgame-perfect equilibrium, Bayesian equilibrium, and applications to repeated games, auctions, and bargaining.
Note: Students may not take both Economics 1051 and Economics 1052 for credit.
Prerequisite: Economics 1011a and Mathematics 21a, or equivalent.
Economics 1056. Market Design - (New Course)
Catalog Number: 69207 Enrollment: Limited to 40.
Susan Athey
Half course (spring term). Tu., Th., 2:30–4. EXAM GROUP: 16, 17
This course studies the design of organized markets, focusing on efficient organization and the incentives created by market rules. Applications include online auction markets, government auctions of natural resources, procurement auctions, matching markets (students to classes or schools, medical residents to hospitals, kidneys to recipients). The analysis relies on a mix of documenting the rules of real-world markets, game theoretic analysis, empirical analysis, and experimental work. A research paper is optional with advance permission of instructor.
Prerequisite: 1011a plus one of 1051, 1052, 1060, 1070, 1640, 1641, or permission of instructor
Economics 1059. Decision Theory (formerly Theories of Decisionmaking in Economics)
Catalog Number: 1322
Tomasz Strzalecki
Half course (spring term). M., W., 1-2:30, and a weekly section to be arranged. EXAM GROUP: 6, 7
An introduction to formal models of decision making in economics, including both classical and psychologically-motivated approaches. Topics include risk, uncertainty, ambiguity, and temptation.
Prerequisite: Economics 1010a or 1011a and Mathematics 21a.
Economics 1060. Contracts and Organizations
Catalog Number: 3267
Oliver S. Hart
Half course (spring term). M., W., 2:30-4, and a weekly section to be arranged. EXAM GROUP: 7, 8
Explores theoretical and empirical work on incentive problems within and between organizations (with more emphasis on the theory). Topics include agency problems arising from moral hazard and asymmetric information, team problems, career concerns, relational contracts, incomplete contracts, boundaries of the firm, authority and delegation, financial contracting, public ownership.
Prerequisite: Economics 1010a or 1011a, Mathematics 20.
[Economics 1070. Normative Economics]
Catalog Number: 5972
Jerry R. Green
Half course (spring term). Hours to be arranged.
Voting theory, social choice, mechanism design, bargaining theory, cooperative game theory, equitable cost allocation, fair division, welfare analysis of taxation, public expenditures and risk bearing. This course offers a rigorous approach to normative economics. Students should have an interest and ability to work with abstract mathematics and axiomatic reasoning.
Note: Expected to be given in 2010–11.
Prerequisite: Economics 1051 or 1052.
Economics 1776. Religion and the Rise of Capitalism - (New Course)
Catalog Number: 30419
Benjamin M. Friedman
Half course (fall term). M., W., F., at 10. EXAM GROUP: 3
Examines the influence of religious thinking on the intellectual revolution, associated with Adam Smith and others, that created economics as we know it as an independent discipline; also examines how the lasting resonances from these early religious influences continue to shape discussion of economic issues and debates about economic policy down to our own day.
Note: This course, when taken for a letter grade, meets the General Education requirement for Culture and Belief the Core area requirement for Historical Study A. This course fulfills the requirement that one of the eight General Education courses also engages substantially with Study of the Past.
Prerequisite: Social Anaylysis 10.
*Economics 2010a. Economic Theory
Catalog Number: 8656
Edward L. Glaeser and Drew Fudenberg
Half course (fall term). Tu., Th., 10-11:30, and a 90-minute weekly section to be arranged. EXAM GROUP: 12, 13
Covers the theory of individual and group behavior. Topics include consumer theory, producer theory, behavior under uncertainty, externalities, monopolistic distortions, game theory, oligopolistic behavior, and asymmetric information.
Note: Enrollment is limited to students in the economics and business economics PhD programs.
Prerequisite: Mathematics 116 or equivalent; can be taken concurrently.
Economics 2010b. Economic Theory
Catalog Number: 8659
Oliver S. Hart and Jerry R. Green
Half course (spring term). Tu., Th., 10-11:30, and a 90-minute weekly section to be arranged. EXAM GROUP: 12, 13
Topics include social choice theory, signaling, mechanism design, general equilibrium, the core, externalities, and public goods.
Prerequisite: Economics 2010a.
Economics 2010c. Economic Theory
Catalog Number: 4431
David I. Laibson and Robert J. Barro
Half course (fall term). Tu., Th., 1-2:30, and a 90-minute weekly section to be arranged. EXAM GROUP: 15, 16
Topics include discrete-time and continuous-time dynamic programming, consumption, investment, economic growth, and business cycles.
Note: Enrollment is strictly limited to PhD students in the Economics Department, Business Economics program, and PEG program. Qualified Harvard undergraduates may also enroll. No other students may take the course for credit or as auditors.
Economics 2010d. Economic Theory
Catalog Number: 2041
Benjamin M. Friedman, Emmanuel Farhi, and Kenneth Rogoff
Half course (spring term). M., W., 8:30-10, and a 90-minute section to be arranged. EXAM GROUP: 1, 2
A basic course in graduate macroeconomics, including models of business fluctuations, analyses of monetary and fiscal policy, and introduction to open economy macroeconomic issues.
Note: Enrollment is strictly limited to PhD students in the Economics Department, Business Economics program, and PEG program. Qualified Harvard undergraduates may also enroll. No other students may take the course for credit or as auditors.
Prerequisite: Mathematics 116 or the equivalent; can be taken concurrently.
*Economics 2020a. Microeconomic Theory I
Catalog Number: 0339 Enrollment: Limited to 102.
Christopher N. Avery (Kennedy School)
Half course (fall term). M., W., at 8:30-10 a.m. and a weekly section to be arranged. EXAM GROUP: 1, 2
A comprehensive course in economic theory designed for doctoral students in all parts of the University. Consumption, production, uncertainty, markets, general equilibrium. Applications to policy analysis and business decisions. Emphasizes the use of economic theory in practical research.
Note: Offered jointly with the Kennedy School as API-111 and with the Business School as 4010.
Prerequisite: Two years of calculus and one course in probability theory. Thorough background in microeconomic theory at the intermediate level. Undergraduates with the appropriate background are welcome.
*Economics 2020b. Microeconomic Theory II
Catalog Number: 4058
Christopher N. Avery (Kennedy School)
Half course (spring term). M., W., 8:30–10 and a weekly section to be arranged. EXAM GROUP: 1, 2
A continuation of Economics 2020a. Topics include game theory, economics of information, incentive theory, and welfare economics.
Note: Offered jointly with the Kennedy School as API-112 and with the Business School as 4011.
Prerequisite: Economics 2010a or 2020a.
Economics 2030. Psychology and Economics
Catalog Number: 3828
Sendhil Mullainathan
Half course (fall term). F., 1–3. EXAM GROUP: 6, 7
Explores economic and psychological models of human behavior. Theoretical topics include bounded rationality, intertemporal choice, decision making under uncertainty, inference, choice heuristics, and social preferences. Economic applications include asset pricing, corporate finance, macroeconomics, labor, development, and industrial organization.
Note: Primarily for graduate students but open to undergraduates.
Prerequisite: Knowledge of multivariable calculus and econometrics.
Economics 2040. Experimental Economics
Catalog Number: 8485 Enrollment: Limited to 48.
Alvin E. Roth (FAS, Business School)
Half course (spring term). F., 9–12. EXAM GROUP: 2, 3, 4
An introduction to experimental economics, and some of the major subject areas that have been addressed by laboratory experiments. We concentrate on series of experiments, to see how experiments build on one another.
Note: Open to undergraduates with permission of the instructor. Offered jointly with the Business School as 4160.
[Economics 2041. Field Experiments]
Catalog Number: 2427
Instructor to be determined
Full course (spring term). Hours to be arranged.
Students will design and run field experiments as a research methodology. Students will refine their own experimental designs and be able to run them by the end of the course, leading to an academic paper.
Note: Expected to be given in 2010–11. Offered jointly with the Business School as 4430. Enrollment is limited to Doctoral students intending to run a field experiment in the near future.
Economics 2052. Game Theory I: Equilibrium Theory
Catalog Number: 3690
Drew Fudenberg
Half course (spring term). M., 4-7 pm. EXAM GROUP: 9
Equilibrium analysis and its applications. Topics vary, but typically include equilibrium refinements (sequential equilibrium), the equilibria of various classes of games (repeated games, auctions, signaling games) and the definition and application of common knowledge.
Prerequisite: Economics 2010a or permission of the instructor.
[Economics 2053. Game Theory II: Topics in Game Theory]
Catalog Number: 1898
Instructor to be determined
Half course (fall term). Hours to be arranged.
Aimed at students planning to do research in game theory. Topics vary from year to year; examples include evolutionary game theory, models of learning and imitation, epistemological models, coalitional agreements, and the foundations of games of incomplete information.
Note: Expected to be given in 2010–11.
[Economics 2054. Social Choice and Welfare Economics]
Catalog Number: 1118
Instructor to be determined
Half course (fall term). Hours to be arranged.
A basic course in social choice theory and its philosophical foundations. An examination of “impossibility” results, collective rationality, domain restrictions, interpersonal comparability, and the role of rights and liberties.
Note: Expected to be given in 2010–11.
Economics 2056a (formerly Economics 2056). Market Design
Catalog Number: 3634
Alvin E. Roth (FAS, Business School), and Peter A. Coles (Business School)
Half course (fall term). F., 9–12. EXAM GROUP: 2, 3, 4
Deals with the theory and practice of market design, with prominent examples drawn from auctions, labor markets, school choice, and kidney exchange.
Note: Open to undergraduates with permission of the instructors. Offered jointly with the Business School as 4150.
Prerequisite: Game theory.
Economics 2056b. Topics in Market Design
Catalog Number: 0402
Susan Athey
Half course (spring term). Tu., Th., 1–2:30. EXAM GROUP: 15, 16
Studies topics in market design, focusing on auctions, auction-based marketplaces and platform markets. Covers methods and results from theory, empirical work, econometrics and experiments, highlighting practical issues in real-world design.
Economics 2057. Rationality and Choice
Catalog Number: 3755 Enrollment: Limited to 25.
Amartya Sen
Half course (spring term). M., 1–3, M., 4–6. EXAM GROUP: 6, 7, 9
The course involves critical examination of alternative approaches to rationality, which is a central concept in economics, politics and the other social sciences, moral and political philosophy, and legal theory, including law and economics.
Note: Meets bi-weekly with Christine Jolls of Yale University as a guest speaker in several meetings. Open to graduate students in Economics, Philosophy, Government and Law.
Economics 2058. Networks and Social Capital
Catalog Number: 2872
Markus M. Möbius
Half course (spring term). Tu., Th., 8:30–10. EXAM GROUP: 10, 11
Provides a rigorous theoretical introduction into network models. Discusses the emerging empirical literature on economic and social networks. Topics include the role of networks in technological progress, buyer-supplier networks, and social capital.
[Economics 2059. Decision Theory]
Catalog Number: 3825
Instructor to be determined
Half course (spring term). Hours to be arranged.
First half focuses on classical models of choice theory, formalizing the notion of rationality and exploring its behavioral implications. The second half focuses on recent research, incorporating insights from psychology and allowing for boundedly-rational agents.
Note: Expected to be given in 2010–11.
Economics 2060. Contract Theory
Catalog Number: 1404
Philippe Aghion
Half course (fall term). M., W., 11:30–1. EXAM GROUP: 4, 5
Recent developments in contract theory. Includes hidden action and hidden information models, dynamic agency issues, incomplete contracts, and applications of contract theory to theories of the firm and corporate financial structure.
[Economics 2061. Dynamic Games and Contracts]
Catalog Number: 4138
Instructor to be determined
Half course (fall term). Hours to be arranged.
This course develops methods for analyzing repeated and dynamic games and contracts in environments with hidden information and moral hazard problems. Applications include collusion, bilateral trade, and mutual insurance. This course complements Economics 2415.
Note: Expected to be given in 2010–11.
[Economics 2070. Economics of Information]
Catalog Number: 5647
Instructor to be determined
Half course (fall term). Hours to be arranged.
A research seminar for students considering work in economic theory. Topics include: voting theory; cooperative game theory (complete and incomplete information); models of quasi-rational behavior (reason-based choice, random choice models, complexity); general equilibrium with adverse selection.
Note: Expected to be given in 2010–11. Offered jointly with the Business School as 4165.
[Economics 2080. Economics and Politics: The Foundations of Economics in Political Theory]
Catalog Number: 6576
Instructor to be determined
Half course (spring term). Hours to be arranged.
Offers graduate students in relevant disciplines the chance to study the historical origins of central ideas in modern economics and to discuss their philosophical character.
Note: Expected to be given in 2010–11.
Prerequisite: A basic knowledge of economics is assumed.
Economics 2085. Economics of Inequality and Poverty - (New Course)
Catalog Number: 16767 Enrollment: Limited to 25.
Amartya Sen and Anthony B. Atkinson (Oxford University)
Half course (fall term). Tu., 1–3. EXAM GROUP: 15, 16
A general course on the evaluation and axiomatic measurement of inequality and poverty, and on the analysis of contemporary economic problems in that light.
Note: First class meeting will be September 8.
*Economics 2086. The Theory Workshop
Catalog Number: 6378
Drew Fudenberg, Susan Athey, Markus M. Möbius (fall term), Tomasz Strzalecki, and Alvin E. Roth
Half course (fall term; repeated spring term). Th., 4–6. EXAM GROUP: 18
For students with an interest in economic theory. Faculty presentations by Harvard and MIT economists and invited guests. The location alternates between Harvard and MIT.
[Economics 2099. Topics in the History of Economic Thought]
Catalog Number: 9529
Instructor to be determined
Half course (fall term). Hours to be arranged.
Topics covered: (1) Efficiency vs distribution as the engine of change. (2) Can socialism allocate resources efficiently without markets? (3) Was there a Keynesian revolution? (4) The transformation of self interest from vice to virtue. (5) Economics and ecology. (6) Justifications of the focus on efficiency.
Note: Expected to be given in 2010–11.
Prerequisite: Graduate-level course in microeconomic theory. Ec 2010a and b, Ec 2020a and b, or equivalent.
Economics 1126. Quantitative Methods in Economics
Catalog Number: 4076
Gary Chamberlain
Half course (spring term). Tu., Th., 11:30–1. EXAM GROUP: 13, 14
Topics include elements of statistical decision theory and related experimental evidence; some game theory and related experimental evidence; maximum likelihood; logit, normal, probit, and ordered probit regression models; panel data models with random effects; omitted variable bias and random assignment; incidental parameters and conditional likelihood; demand and supply.
Note: Economics 1123 may not be taken for credit if taken after Economics 1126, but credit will be given for both courses if Economics 1123 is taken first. This course, when taken for a letter grade, meets the Core requirement for Quantitative Reasoning.
Prerequisite: Statistics 100 or preferably 110; Mathematics 20.
Economics 1127. Statistical Methods for Evaluating Causal Effects
Catalog Number: 9967
Donald B. Rubin
Half course (spring term). Tu., Th., 2:30–4. EXAM GROUP: 16, 17
Statistical methods discussed for inferring causal effects from data from randomized experiments or observational studies. Students will develop expertise to assess the credibility of causal claims and the ability to apply the relevant statistical methods for causal analyses. Examples will come from many disciplines: economics, education, other social sciences, epidemiology, and biomedical science. Evaluations of job training programs, educational voucher schemes, changes in laws such as minimum wage laws, medical treatments, smoking, military service.
Prerequisite: Statistics 100 or preferably Statistics 111; Mathematics 20.
Economics 2120. Introduction to Applied Econometrics
Catalog Number: 2352
Gary Chamberlain
Half course (spring term). Tu., Th., 2:30–4. EXAM GROUP: 16, 17
Introduction to methods employed in applied econometrics, including linear regression, instrumental variables, panel data techniques, generalized method of moments, and maximum likelihood. Includes detailed discussion of papers in applied econometrics and computer exercises using standard econometric packages.
Note: Enrollment limited to PhD candidates in economics, business economics, health policy, public policy, and political economy and government (PEG). Offered jointly with the Kennedy School as API-217.
Prerequisite: Economics 2110 or API-209 or the equivalent.
[Economics 2130. Applied Econometrics]
Catalog Number: 2211
Dale W. Jorgenson
Half course (spring term). Hours to be arranged.
Advanced methods in applied econometrics, including nonlinear regression, discrete and limited dependent variables, models of selection, and stationary and non-stationary time series. Includes detailed discussion of empirical applications.
Note: Expected to be given in 2010–11. Students complete a short research project in applied econometrics. Offered jointly with the Kennedy School as API-218.
Prerequisite: Economics 2120 or equivalent.
Economics 2140. Econometric Methods
Catalog Number: 7210
Guido W. Imbens
Half course (fall term). Tu., Th., 11:30–1. EXAM GROUP: 13, 14
Econometric methods for cross-section and panel data. Topics include generalized method of moments, empirical likelihood, instrumental variables, bootstrapping, clustering, treatment effects, selection bias, difference-in-differences, qualitative choice, quantile regression, nonparametric methods, and semiparametric methods.
Prerequisite: Economics 2120 or equivalent.
Economics 2142. Time Series Analysis
Catalog Number: 4414
James H. Stock and Rustam Ibragimov
Half course (fall term). Tu., Th., 8:30–10. EXAM GROUP: 10, 11
A survey of modern time series econometrics. Topics include univariate models, vector autoregressions, linear and nonlinear filtering, frequency domain methods, unit roots, structural breaks, empirical process theory asymptotics, forecasting, and applications to macroeconomics and finance.
[Economics 2144. Advanced Applied Econometrics]
Catalog Number: 7686
Instructor to be determined
Half course (spring term). Hours to be arranged.
An introduction to the theory and application of recently developed econometric techniques
used in advanced applied work. Simulation techniques, estimation subject to inequality restrictions, as well as semiparametric and nonparametric tools will be studied in a variety of empirical contexts.
Note: Expected to be given in 2010–11.
Economics 2146. Topics in Financial Econometrics
Catalog Number: 8715
Rustam Ibragimov
Half course (spring term). Tu., Th., 8:30–10. EXAM GROUP: 10, 11
A seminar course in financial econometrics. The topics covered include testing stylized facts in finance, robust inference, testing return predictability and market efficiency, inference in consumption-based asset pricing models and applications to real data.
Prerequisite: Economics 2120 or equivalent.
Economics 2149. Computational Economics
Catalog Number: 7236
Ulrich Doraszelski
Half course (spring term). M., W., 10–11:30. EXAM GROUP: 3, 4
Graduate introduction to computational approaches for solving economic models. Formulate economic problems in computationally tractable form and use techniques from numerical analysis to solve them. Examples of computational techniques in the current economics literature will be examined.
Economics 2162. The Econometrics Workshop
Catalog Number: 2372
Guido W. Imbens, Alberto Abadie (Kennedy School), Gary Chamberlain, Rustam Ibragimov, Dale W. Jorgenson (spring term), and James H. Stock
Full course. Th., 4:30–6. EXAM GROUP: 18
Current research topics in theory and applications of econometrics.
Economics 1341. The Historical Origins of Middle Eastern Development
Catalog Number: 9328
Eric Chaney
Half course (fall term). Tu., Th., 2:30–4;. EXAM GROUP: 16, 17
Middle Eastern countries enjoyed world economic leadership during the Middle Ages, and continue to play an important role in the world economy. This course will explore the historical development of Middle Eastern economies. Topics include the effects of colonialism, natural resource endowments and religion on economic growth. The course will emphasize how these and other historical factors continue to influence development prospects in the region today.
Note: A research paper is required. This course meets the concentration writing requirement.
Prerequisite: Social Analysis 10
Economics 1356. Economics of Work and Family - (New Course)
Catalog Number: 17685
Claudia Goldin
Half course (fall term). M., W., 1–2:30. EXAM GROUP: 6, 7
How are the most personal choices and life transitions decided, including when and whom to marry, how many children to have, how much education to obtain, and which careers or jobs to pursue? Much will be explored in terms of change over time, particularly concerning the economic emergence of women as well as the role of the state. Readings draw on economic theory, empirical analyses, and historical works and literature from the 19th century to the present.
Note: A research paper is required for this course. This course cannot be taken Pass/Fail and cannot be taken by anyone who has taken Ec980b. This course, when taken for a letter grade, meets the General Education requirement for United States in the World or the Core area requirement for Social Analysis."
Prerequisite: Ec1010a or Ec1011a or equivalent, and Ec1123 or Ec1126 or equivalent or permission of instructor.
Economics 1370. Media, Democracy and Economics - (New Course)
Catalog Number: 45985
Philippe Aghion and Benedicte Berner
Half course (fall term). Tu., Th., 10–11:30. EXAM GROUP: 12, 13
This course will analyze the role of media in political and economic development. Topics covered are the history of the relationship between media and the state, media and democracy today, laws governing the media and its practice, legal and political pressures on the media, media as an economic object, ownership of media and its effects, media coverage on elections and in developing countries, competition and truth in the market for news, the current mainstream media, and journalistic ethics.
Prerequisite: Social Analysis 10.
Economics 1389. The Economics of Health and Development
Catalog Number: 1900
Amitabh Chandra (Kennedy School)
Half course (spring term). Tu., Th., 1–2:30. EXAM GROUP: 15, 16
Examines health issues in developing countries from the standpoint of economics, with focus on applied microeconomic research and econometric methods. Specific topics include private and social returns to health, the effect of health on growth and development, gender differences in health, structural problems in delivery, health finance, technology adoption and behavioral change, infant mortality, worms, AIDS, malaria, and the long-run impact of disease. For each topic, special attention is paid to the identifying causal effects that inform the design of public policies, and contrast the lessons learnt from this approach to those obtained from observational studies.
Note: Offered jointly with the Kennedy School as PED-318.
Prerequisite: Economics 1010a (or 1011a) and 1123 (or 1126).
[Economics 1390. Microfinance: Theory and Practice]
Catalog Number: 5115 Enrollment: Limited to 40.
Instructor to be determined
Half course (fall term). Hours to be arranged.
A course which has multidimensional implications on current poverty reduction efforts. How can microfinance overcome credit rationing for the poor and be profitable? How can one measure its potential impact on poverty reduction? Covers detailed case studies of non-profit and for-profit microfinance enterprises.
Note: Expected to be given in 2010–11.
Prerequisite: Economics 1011a and 1123.
[Economics 1393. Poverty and Development]
Catalog Number: 6516
Nathan J. Nunn
Half course (spring term). Hours to be arranged.
Studies the relationship between economic growth, poverty, and income distribution. Discusses how globalization affects poverty and inequality. Studies the main theories of economic growth and the main potential sources of economic development, from physical capital accumulation, to education, to technology, to the role of government. Discusses various global issues such as public global health (e.g., the impact of malaria and AIDS on Africa), corruption and institutions, natural resources, the environment, international donor institutions, and population growth.
Note: Expected to be given in 2010–11.
Prerequisite: Economics 1010a (or 1011a) and 1010b (or 1011b).
Economics 2328. The Emergence of Modern Economic Growth: A Comparative and Historical Analysis
Catalog Number: 9475
James Robinson
Half course (fall term). M., W., 2:30–4. EXAM GROUP: 7, 8
Overview and analysis of comparative economic development during the last half millennia. Examines the emergence of modern economic growth in Europe after 1500, and the forces that led to the great divergence in prosperity in the 19th century. Also considered: colonialism, communism, fascism, and revolution.
[Economics 2330. History and Human Capital]
Catalog Number: 2588
Instructor to be determined
Half course (spring term). Hours to be arranged.
Explores a range of subjects concerning human capital, historically and comparatively. Topics include fertility, mortality, health, immigration, women’s work, child labor, retirement, education, inequality, slavery, unionization, and governmental regulation of labor, all within the broader context of economic history.
Note: Expected to be given in 2010–11. Satisfies the graduate distribution requirement. Open to undergraduates on a limited basis with permission of instructor.
Economics 2333. Historical Perspectives on Current Economic Issues
Catalog Number: 6800
Richard Hornbeck
Half course (spring term). Tu., Th., 10–11:30. EXAM GROUP: 12, 13
Comparative economic history emphasizing sources of economic growth and development. Topics include technological change and industrialization, institutions, the Great Depression and financial regulation, migration and adjustment to economic shocks, public infrastructure, labor markets and wage inequality, and health. Each topic is motivated by a current concern and develops methods for historical analysis to inform modern economic questions.
Note: Satisfies the graduate distribution requirement. Open to undergraduates on a limited basis with permission of instructor.
Economics 2339. The Economic History Workshop
Catalog Number: 8183
Claudia Goldin (fall term), Eric Chaney, Stanley Engerman (University of Rochester) (spring term), Richard A. Hornbeck, and James Robinson
Full course. F., 2–4. EXAM GROUP: 7, 8
Intended for students writing dissertations related to economic history themes and/or methodology and for others with interests in economic history. Discusses research papers presented by scholars at Harvard and elsewhere.
[Economics 2350. Workshop in Religion, Political Economy, and Society]
Catalog Number: 0815
Instructor to be determined
Half course (fall term). Hours to be arranged.
Topics on the interplay between religion and the social sciences.
Note: Expected to be given in 2010–11.
Economics 2390b. Development Economics I: Microeconomic Issues
Catalog Number: 2990
Sendhil Mullainathan and Richard A. Hornbeck
Half course (fall term). F., 9–12. EXAM GROUP: 2, 3, 4
Topics include agricultural issues such as peasant behavior, land tenancy, interlinked markets; credit and insurance market problems and institutions; health, nutrition, and productivity; gender bias; education; and technology adoption.
Economics 2390c. Development Economics II: Macroeconomic Issues
Catalog Number: 0388
Michael R. Kremer and Rohini Pande (Kennedy School)
Half course (spring term). M., W., 1–2:30. EXAM GROUP: 6, 7
The first part will cover macro-economic topics including aggregative and non-aggregative growth models, growth and development accounting and models of technology diffusion and choice. The second part will evaluate the role of governance/institutional design in affecting development.
Note: Offered jointly with the Kennedy School of Government as PED-319.
Economics 2390d. The Economic Growth and Development Workshop
Catalog Number: 1926
Sendhil Mullainathan, Philippe Aghion, Rema N. Hanna (Kennedy School), Asim I. Khwaja (Kennedy School), Michael R. Kremer (spring term), and Rohini Pande (Kennedy School)
Full course. Fall: Tu., 2:30–4; Spring: W., 2:30–4. EXAM GROUP: Spring: 7, 8
Fall speakers cover issues in growth and development. Spring speakers alternate between “growth and institutions,” focusing on the macro aspects of growth and development, and “labor and development,” focusing on the micro aspects.
Economics 2393. The Design of Development Policy: From Research to Practice - (New Course)
Catalog Number: 62879
Sendhil Mullainathan and Rohini Pande (Kennedy School)
Half course (spring term). W., 4–6. EXAM GROUP: 9
Development research is fascinating in part because it has a direct impact on public policy. Yet the pathways to impact are very different, from shaping how we evaluate public and non-profit programs to setting countrywide goals. This course will take a micro-economic perspective and critically review the distinct ways in which research affects and is affected by public policy. General topics will include: the debate over randomized evaluations, the creation and diffusion of policy innovations, the tension between micro and macro policy approaches and the role of theory. Specific areas covered will include Finance, Education and Public health and Governance.
Note: The course will presumes knowledge of an advanced statistics course. Open to undergraduates with permission of the instructor. Jointly listed with the Kennedy School as PED-330.
Economics 1420. American Economic Policy
Catalog Number: 8110
Martin Feldstein
Half course (spring term). M., W., F., at 10, and a weekly section to be arranged. EXAM GROUP: 3
Analyzes major issues in American economic policy including taxation, Social Security, health care reform, budget policy, monetary and fiscal policy, and exchange rate management. Current economic issues and policy options discussed in detail and in the context of current academic thinking.
Note: Offered jointly with the Kennedy School as API-126.
Prerequisite: Economics 1010a or 1011a, or permission of instructor.
Economics 1425. Political Economics - (New Course)
Catalog Number: 68084 Enrollment: Limited to 20.
Andrei Shleifer
Half course (spring term). Th., 2:30–4:30. EXAM GROUP: 16, 17, 18
Discusses several research areas in political economy, including the origins of the state, comparative political systems, theories of economic reform, fiscal problems in democracies, rule of law, privatization, and regulation.
Note: A research paper is required. This course meets the concentration writing requirement.
Prerequisite: Economics 1010a or 1011a.
[Economics 1430. Macroeconomics and Politics]
Catalog Number: 5549
Robert J. Barro
Half course (spring term). Hours to be arranged.
Topics include the political economy of economic growth, including the roles of democracy and legal institutions; inflation, monetary policy, and fiscal policy; interplay between religion and political economy; and analyses of economic and monetary unions.
Note: Expected to be given in 2010–11.
Prerequisite: Economics 1010b or 1011b, or permission of the instructor.
Economics 1460. Economics of Health Care Policy
Catalog Number: 4540
Joseph P. Newhouse (Kennedy School, Medical School, Public Health)
Half course (spring term). M., W., 8:30–10. EXAM GROUP: 1, 2
Policy issues related to the following: the demand for medical care services, especially as a function of insurance; the demand for insurance and issues of selection; reimbursement policies of Medicare and other payers toward health plans, hospitals, and physicians; effects of health maintenance organizations and managed care; and malpractice and tort reform. Focus on federal policy, although state and local perspectives will receive some attention.
Note: Students may not take both Economics 1460 and Quantitative Reasoning 24: Health Economics and Policy for credit. Offered jointly with the Kennedy School as HCP-272.
Prerequisite: Economics 1010a or 1011a. A statistics course is highly desirable.
[Economics 1480. Moral Perspectives on Economic Growth]
Catalog Number: 3441 Enrollment: Limited to 20.
Instructor to be determined
Half course (fall term). Hours to be arranged.
Considers economic growth and policies that either promote or impede economic growth, from a social, political, and moral perspective. Focuses on ways in which moral ideas, including religious ideas, have influenced economic thinking, and vice versa. Approaches include economic, historical, and literary analyses.
Note: Expected to be given in 2010–11. A research paper is required. This course meets the concentration writing requirement.
Prerequisite: Economics 1010a (or 1011a) and 1010b (or 1011b).
Economics 1490. Growth and Crisis in the World Economy - (New Course)
Catalog Number: 35497
Dale W. Jorgenson
Half course (spring term). Tu., Th., 2:30–4. EXAM GROUP: 16, 17
This course assesses the future of the tri-polar world economy - Asia, Europe, and North America. The course analyzes the resurgence of the US economic growth, the emergence of asset pricingbubbles, and the ensuing financial and economic crisis. We will discuss the sources of Asian growth miracles and the convergence and subsequent divergence of Europe and North America. What growth rate is sustainable and who will lead? What are the forces that threaten long-term prosperity?
Prerequisite: Social Analysis 10 and Mathematics 1a
Economics 2410g. Political Economics
Catalog Number: 6758
Alberto F. Alesina
Half course (fall term). Th., 4–6. EXAM GROUP: 18
Discusses several research areas in political economy, including the origins of the state, comparative political systems, theories of economic reform, fiscal problems in democracies, rule of law, privatization, regulation, and elections and the economy.
[Economics 2415. Theory of Optimal Policy]
Catalog Number: 2855
Instructor to be determined
Half course (spring term). Hours to be arranged.
Theory of optimal taxation: static and dynamic models; taxation; Ramsey and Mirrlees approaches; theory of social insurance. Macroeconomic approach to optimal policy includes fiscal and monetary policy over time and business cycles, time-consistency problems.
Note: Expected to be given in 2010–11.
Economics 2420. Monetary and Fiscal Policy Seminar
Catalog Number: 5946
Robert J. Barro, Philippe Aghion, Alberto F. Alesina, Emmanuel Farhi, Benjamin M. Friedman, David I. Laibson, and N. Gregory Mankiw
Full course. M., 2–4. EXAM GROUP: 7, 8
Seminar speakers present papers on macroeconomic topics, including issues relating to monetary and fiscal policies, economic growth, the role of institutions, and other research issues in the field.
Economics 2421. Reading Course in Monetary and Fiscal Policy - (New Course)
Catalog Number: 97507
Benjamin M. Friedman and N. Gregory Mankiw
Half course (spring term). W., 2–4. EXAM GROUP: 7, 8
A reading course that allows students to discuss and evaluate recent research in the analysis of monetary and fiscal policies. Students will be expected to participate in formally presenting, and critiquing, unpublished or newly published papers.
Note: Students taking the course for credit will also be expected to undertake research papers of their own.
Economics 2450a. Public Economics and Fiscal Policy I
Catalog Number: 1339
Nadarajan Chetty
Half course (fall term). Tu., Th., 6-7:30 p.m., (F.), 3-4:30. EXAM GROUP: 8, 9, 18
This course covers basic issues in the optimal design of tax and social insurance policies, with emphasis on combining theoretical models with empirical evidence. Topics include efficiency costs and incidence of taxation, income taxation, transfer and welfare programs, public goods and externalities, optimal social insurance, and welfare analysis in behavioral models.
Prerequisite: Economics 2010a and 2010b or Economics 2020a and 2020b.
Economics 2450b. Public Economics and Fiscal Policy II
Catalog Number: 6478
Martin Feldstein and Edward L. Glaeser
Half course (spring term). M., W., (F.), 11:30–1. EXAM GROUP: 4, 5
This course covers theoretical and empirical applications of public economics to policy debates. Topics include education, local public finance, fiscal federalism, housing policy, corporate and international taxation, social security, and macroeconomic stabilization using fiscal policy.
Prerequisite: Economics 2010a and 2010b or Economics 2020a and 2020b. Students are strongly encouraged to take Economics 2450a before taking 2450b.
[Economics 2458. Topics in Health Economics]
Catalog Number: 1146
Instructor to be determined
Half course (fall term). Hours to be arranged.
This course covers theoretical, empirical and policy research on health insurance, hospitals, physicians and managed care plans. Emphasis is on study of patient and provider behavior, response to insurance and payment incentives, and design of optimal payment and quality reporting mechanisms.
Note: Expected to be given in 2010–11.
Prerequisite: Economics 2010a and 2010b or Economics 2020a and 2020b
Economics 2460. Health Economics Workshop
Catalog Number: 7617
Joseph P. Newhouse (Kennedy School, Medical School, Public Health) and David M. Cutler
Half course (spring term). W., 4–6. EXAM GROUP: 9
Focuses on theory, econometric models, and public policy of health care. Frontier work in health economics presented and discussed by instructors and outside speakers.
Note: May be taken for credit only by dissertation students writing a research paper. Offered jointly with the Kennedy School as HCP-581.
Economics 2465. Health Economics - (New Course)
Catalog Number: 83396
David M. Cutler
Half course (spring term). Tu., Th., (F.), 2:30–4. EXAM GROUP: 7, 8, 16, 17
This course surveys topics in health economics. It touches on public sector issues, the industrial organization of health care markets, interactions between health and labor markets, and health in developing countries. Theory and empirical work are presented.
[Economics 2470. Law and Economics]
Catalog Number: 5995
Instructor to be determined
Half course (spring term). Hours to be arranged.
Emphasizes themes relating different subjects in the field and analyzes topics that illustrate those themes. Besides issues such as torts, property, litigation, and law enforcement, will also focus on judicial decision-making and cross-country comparisons of the effects of laws and legal systems.
Note: Expected to be given in 2010–11. Offered jointly with the Law School as 96203-31.
Economics 2480. The Public Economics and Fiscal Policy Workshop
Catalog Number: 6834
Nadarajan Chetty, David M. Cutler, and Martin Feldstein
Full course. M., 4–6. EXAM GROUP: 9
Invited speakers present theoretical and empirical research on a broad range of topics related to the design of government policy.
*Economics 2490. The Economics of National Security Seminar
Catalog Number: 9061
Martin Feldstein
Half course (spring term). Tu., 6–9 p.m. EXAM GROUP: 18
Considers a range of issues relating to national security, including bioterrorism, the market for nuclear weapons, the defense industry, the dependence on imported oil, intelligence, sanctions, etc.
Note: Speakers will be both experts with experience in this field and economists doing research on these issues. Seminar participants will be economics department faculty and selected graduate students.
Economics 1531. Economics of International Financial Policy
Catalog Number: 7018
Jeffrey A. Frankel (Kennedy School)
Half course (spring term). M., W., 2:30-4; and a weekly section meeting to be arranged. EXAM GROUP: 7, 8
This course examines the macroeconomics of open economies. It covers models appropriate to major industrialized countries. Topics include the foreign exchange market, devaluation, and import and export elasticities; simultaneous determination of the trade balance, national income, balance of payments, money flows, and price levels; capital flows and our increasingly integrated financial markets; monetary and fiscal policy in open economies; international macroeconomic interdependence; supply relationships and monetary policy targets; exchange rate determination; and international portfolio diversification.
Note: Offered jointly with the Kennedy School as ITF-220. May not be taken for credit with Economics 1530.
Prerequisite: Economics 1010/1011. Knowledge of international trade theory and econometric techniques is also desirable, but not essential. Students must be very comfortable with algebra.
Economics 1535. International Trade and Investment
Catalog Number: 2557 Enrollment: Limited to 45.
Marc J. Melitz
Half course (fall term). M., W., 2–3:30. EXAM GROUP: 7, 8
Analyzes the causes and consequences of international trade and investment. Focuses on the interplay of economic theory and empirical descriptions of foreign trade and direct investment patterns.
Prerequisite: Economics 1010a or 1011a.
Economics 1540. Topics in International Trade
Catalog Number: 7470
Pol Antràs
Half course (spring term). M., W., 1–2:30. EXAM GROUP: 6, 7
Covers advanced topics in international economics with a special emphasis on an analytical approach to the recent process of globalization. Topics include the role of multinational firms in the global economy, the effect of international outsourcing on wages, and trade and industrial development.
Prerequisite: Economics 1535 and basic knowledge of calculus and econometrics.
Economics 1542. International Trade Policy
Catalog Number: 2613
Elhanan Helpman
Half course (fall term). M., W., 2-3:30; and a weekly section to be arranged. EXAM GROUP: 7, 8
Provides a discussion of the economic impacts of international trade policies and the political economy of trade policy formation. The course will focus on analytical methods and therefore requires knowledge of calculus.
Prerequisite: Economics 1010a or 1011a, or permission of instructor.
Economics 1545. International Financial and Macroeconomic Policy
Catalog Number: 5166 Enrollment: Limited to 30.
Kenneth Rogoff
Half course (fall term). M., W., 1–2:30. EXAM GROUP: 6, 7
Advanced theoretical and empirical analysis of contemporary international macroeconomic policy issues in both industrialized and developing economies. Topics include exchange rates, international capital flows, debt crises, growth, and policy coordination.
Prerequisite: Economics 1010b or 1011b.
Economics 2530b. International Finance
Catalog Number: 7144
Gita Gopinath
Half course (spring term). M., W., 1–2:30. EXAM GROUP: 6, 7
Financial aspects of growth and income determination in open economies. Topics include international business cycle, monetary and exchange rate regimes, capital flows, and current issues in international macroeconomic policy.
Prerequisite: Economics 2530a provides extremely useful background.
Economics 2535. Advanced Topics in International Trade
Catalog Number: 6410
Pol Antràs
Half course (spring term). M., W., 10–11:30. EXAM GROUP: 3, 4
Covers advanced theoretical and empirical topics concerning the determinants of world trade patterns.
Prerequisite: Economics 2530a or permission of instructor.
[Economics 2537. International Trade Policy: Issues and Analysis ]
Catalog Number: 1699
Dani Rodrik (Kennedy School)
Half course (fall term). Hours to be arranged.
Develops expertise with economic models used for the analysis of international trade policies. Focuses on theoretical and empirical work relating to trade patterns, income distribution, growth, development, industrial policy, political economy, and the WTO.
Note: Expected to be given in 2010–11. Offered jointly with the Kennedy School as ITF-345. Students are expected to make presentations and write a research paper.
Prerequisite: Graduate level microeconomics and econometrics.
Economics 2540. The International Economics Workshop
Catalog Number: 4008
Kenneth Rogoff and members of the department.
Full course. W., 4–6. EXAM GROUP: 9
Research papers in all aspects of international economics, including theory, econometrics, and policy.
[Economics 1640. Industrial Organization: Theory and Applications]
Catalog Number: 7875 Enrollment: Limited to 30.
Instructor to be determined
Half course (spring term). Hours to be arranged.
Theoretical and empirical analysis of contemporary topics in industrial organization. Uses economic theory to analyze important issues facing firms, and examines the practical challenges of empirical applications of theory. Topics include horizontal relationships and mergers, vertical integration and control through contractual arrangements, price discrimination, information and search costs, innovation and intellectual property rights, and network externalities. Each topic combines theoretical analysis with a study of actual firm behavior.
Note: Expected to be given in 2010–11. Students may not take both Economics 1640 and Economics 1641 for credit.
Prerequisite: Economics 1010a or 1011a.
Economics 1641. Industrial Organization: Theory and Practice
Catalog Number: 9099 Enrollment: Limited to 30.
Ulrich Doraszelski
Half course (spring term). M., W., 1–2:30. EXAM GROUP: 6, 7
Theoretical and empirical analysis of contemporary topics in industrial organization. Uses economic theory to analyze important issues facing firms, and examines the practical challenges of empirical applications of theory. Topics include horizontal relationships and mergers, vertical integration and control through contractual arrangements, price discrimination, information and search costs, innovation and intellectual property rights, and network externalities. Each topic combines theoretical analysis with a study of actual firm behavior.
Note: Students may not take both Economics 1640 and Economics 1641 for credit.
Prerequisite: Economics 1010a or 1011a.
[Economics 1642. Advanced Industrial Organization]
Catalog Number: 9613
Instructor to be determined
Half course (spring term). Hours to be arranged.
Theory and modern empirical techniques in industrial organization. Topics may include static analysis and estimation of market equilibrium; dynamic models of entry and investment; price discrimination, collusion, mergers and vertical control, with applications to antitrust policy; and issues in auctions and market design.
Note: Expected to be given in 2010–11. This is a hands-on course, and students will be expected to use Stata or other statistical software to perform data analysis.
Prerequisite: Economics 1010a or 1011a; Economics 1123 or 1126
Economics 1661. Environmental and Resource Economics and Policy
Catalog Number: 2115
Robert N. Stavins (Kennedy School)
Half course (spring term). M., W., 1-2:30 and an optional review section F., 1-2:30. EXAM GROUP: 6, 7
Provides a survey, from the perspective of economics, of environmental and natural resource policy. Combines lectures on conceptual and methodological topics with examinations of public policy issues. Topics include principles of environmental and resource economics, nonrenewable resources (minerals and energy), renewable resources (fisheries), air pollution (stationary and mobile sources, acid rain, and global climate change), and sustainable development and political aspects of environmental policy.
Note: Offered jointly with the Kennedy School as ENR-201.
Prerequisite: Social Analysis 10 or permission of instructor.
Economics 1666 (formerly Economics 1026). The Economics of Climate Change
Catalog Number: 9468
Martin L. Weitzman
Half course (spring term). Tu., Th., 1–2:30. EXAM GROUP: 15, 16
Core analysis and basic empirics underpinning economic models of climate change. This topic is an evolving area on the research frontier of applied theory that is currently of great interest to economists. Develops relevant aspects of time discounting, economics of uncertainty, modern cost-benefit analysis, capital-theoretic dynamics, and optimal control theory. The primary application is to environmental economics, especially climate change.
Note: Requires background in economic theory, mathematics, and statistics.
Prerequisite: Economics 1011a, 1011b, and Statistics 100.
Economics 2611. Industrial Organization II
Catalog Number: 2302
Julie H. Mortimer
Half course (spring term). M., W., 1–2:30. EXAM GROUP: 6, 7
Application of industrial organization to problems of public policy. Applied analysis of antitrust policy, network industries, vertical relationships, auctions, and other topics depending on interest.
Note: Students are urged to take Economics 2610 before Economics 2611.
*Economics 2640hf. The Industrial Organization Workshop
Catalog Number: 5981
Julie H. Mortimer (spring term), Ariel Pakes (fall term), Susan Athey, and Ulrich Doraszelski
Half course (throughout the year). M., 2:30–4. EXAM GROUP: 7, 8
Economics 2665. The Economics of Organizations Workshop
Catalog Number: 9819
Oliver S. Hart and George Pierce Baker (Business School)
Half course (fall term; repeated spring term). Th., 2:30–4. EXAM GROUP: Spring: 16, 17
Note: Offered jointly with the Business School as 4230.
[Economics 2670. Organizational Economics]
Catalog Number: 6913
Instructor to be determined
Half course (spring term). Hours to be arranged.
Theoretical and empirical work on organizations. Topics include agency problems inside organizations, boundaries of the firm, relational contracting, authority, hierarchies, delegation, decentralization, and nonstandard organizational arrangements (including joint ventures, venture capital, and public ownership).
Note: Expected to be given in 2010–11. Offered jointly with the Business School as 4180.
Prerequisite: Economics 2020.
Economics 2680. Environmental and Natural Resource Economics
Catalog Number: 6529
Martin L. Weitzman
Half course (spring term). M., W., 1–2:30. EXAM GROUP: 6, 7
Basic theory and models, including externalities, common property, instruments for controlling pollution. Applications of optimal control theory to renewable and non-renewable resources. Analysis of cost-benefit, discounting, uncertainty, environmental accounting, “sustainability,” and biodiversity preservation.
Prerequisite: Graduate price theory at level of 2010 or 2020.
*Economics 2690hf. Environmental Economics and Policy Seminar
Catalog Number: 4324
Robert N. Stavins (Kennedy School) and Martin L. Weitzman
Half course (throughout the year). W., 4–5:30. EXAM GROUP: 9
Selected topics in environmental and resource economics. Emphasizes theoretical models, quantitative empirical analysis, and public policy applications. Includes invited outside speakers.
Note: Primarily for graduate students in economics or related fields with environmental interests. Offered jointly with the Kennedy School as API-905Y.
Prerequisite: Graduate-level course in microeconomic theory.
Economics 1745. Corporate Finance
Catalog Number: 5889
Efraim Benmelech
Half course (spring term). Tu., Th., 1-2:30, and a weekly section to be arranged. EXAM GROUP: 15, 16
Introduction to corporate finance, including capital budgeting, capital structure of firms, dividend policy, corporate governance, and takeovers.
Prerequisite: Economics 1010a or 1011a, Mathematics 20, and Statistics 100.
Economics 1760. The Financial Crisis
Catalog Number: 4594
Jeremy C. Stein
Half course (spring term). M., W., 1–2:30. EXAM GROUP: 6, 7
This course provides a detailed examination of events in financial markets during the crisis period that began in August of 2007. Topicsinclude: the housing bubble and mortgage markets, the role of the banks and the shadow banking system, policy responses by the Treasury and the Federal Reserve, and longer-run regulatory reform. The conceptual approach to these topics will draw heavily on recent research in financial economics.
Prerequisite: Either Economics 1723 or 1745 is required.
[Economics 2724. Finance Theory in Continuous Time]
Catalog Number: 2614
Instructor to be determined
Half course (spring term). Hours to be arranged.
Synthesis of finance theory from the perspective of continuous-time analysis covering individual financial behavior, financial markets and intermediaries, corporate finance, governmental and macro finance in an uncertain environment.
Note: Expected to be given in 2010–11. Offered jointly with the Business School as 4256.
Prerequisite: At least one finance course including capital markets; elementary probability and statistics; multi-variate calculus; matrix algebra.
Economics 2725. Corporate Finance
Catalog Number: 1427
Efraim Benmelech and David S. Scharfstein (Business School)
Half course (spring term). Tu., Th., 10–11:30. EXAM GROUP: 12, 13
Theory and empirical evidence on capital structure, dividends, investment policy, and managerial incentives. Topics include banking, corporate governance, and mergers.
Note: Offered jointly with the Business School as 4223.
Prerequisite: Economics 2060.
Economics 2726. Theoretical and Empirical Perspective on Entrepreneurship: Economics and Finance
Catalog Number: 4451
Joshua Lerner (Business School) and William Robert Kerr (Business School)
Half course (spring term). Th., 2:30–5:30. EXAM GROUP: 16, 17, 18
Entrepreneurship is a complex phenomenon that has attracted little academic attention. This course explores the emerging work in this area. Students taking the course for credit will be expected to complete two referee reports and a paper.
Note: Offered jointly with the Business School as 4350
[Economics 2727. Empirical Methods in Corporate Finance]
Catalog Number: 9055
Instructor to be determined
Half course (spring term). Hours to be arranged.
Examines empirical research in corporate finance. Covers empirical research methodology, financial institutions, and financial policy. Major emphasis is on how to do well-executed and persuasive research in corporate finance.
Note: Expected to be given in 2010–11. Structured to minimize overlap with Economics 2725. Seminar format; students write referee reports and a research paper. Offered jointly with the Business School as 4220.
Economics 2728. Behavioral Finance
Catalog Number: 8633
Jeremy C. Stein
Half course (spring term). M., W., 10–11:30. EXAM GROUP: 3, 4
Deals with theoretical and empirical approaches to the study of financial markets using psychological or behavioral ideas. Topics include limited arbitrage, predictability of security returns, and trading volume.
*Economics 2770hf. The Financial Economics Workshop
Catalog Number: 1379
Efraim Benmelech, John Y. Campbell, and Jeremy C. Stein
Half course (throughout the year). W., 4–5:30. EXAM GROUP: 9
[Economics 1813. The Indebted Society]
Catalog Number: 6957 Enrollment: Limited to 50.
To be determined
Half course (spring term). Hours to be arranged.
In recent years, the US economy has entered an unprecedented era of dependence on debt by governments, corporations and households. A massive debt overhang permeates our economy, casting a shadow over government, corporate and household finance and shaping decision-making processes for all of these actors. This course examines both causes and effects of this penchant for debt, utilizing a multidisciplinary approach drawing from labor economics, public/corporate finance, law, public policy, and even sociology and psychology.
Note: Expected to be given in 2010–11.
Prerequisite: Economics 1010a (or 1011a) and Economics 1010b (or 1011b).
[Economics 1815. Social Problems of the American Economy]
Catalog Number: 3130
Instructor to be determined
Half course (spring term). Hours to be arranged.
Examines selected social and economic problems of the US and evaluates market and governmental solutions. Topics include discrimination, income and wage inequality, welfare reform, antipoverty strategy (including education and training programs), homelessness, crime, and charitable behavior.
Note: Expected to be given in 2010–11. A research paper is required.
Prerequisite: Social Analysis 10 or permission of the instructor.
[Economics 1816. Race in America]
Catalog Number: 2483
Instructor to be determined
Half course (fall term). Hours to be arranged.
Examines the causes and consequences of racial inequality in America and evaluates the efficacy of various market and non-market solutions. Topics include: the racial achievement gap in education, the impact of crack cocaine on inner cities, racial differences in health, crime and punishment, labor market discrimination, social interactions and the effects of peer groups, affirmative action, and more.
Note: Expected to be given in 2010–11.
Prerequisite: Social Analysis 10.
Economics 1818. Economics of Discontinuous Change
Catalog Number: 3029
Richard B. Freeman
Half course (spring term). Tu., Th., 1-2:00, and a weekly section to be arranged. EXAM GROUP: 15
Explores discontinuous changes in the economic position of groups and countries and presents mathematical and computer simulation models designed to illuminate these changes. Examples include growth/decline of trade unions, segregation of groups, development of linkages on the internet, changes in corporate work culture, growth of social pathologies in neighborhoods, and Malthusian concerns about the environment. Models include nonlinear simulations, neural networks, finite automata, evolutionary stable strategies, causal conjunctures, agent-based simulations, and genetic algorithms.
Note: A research paper is required. Students should have some mathematical background, but there is no prerequisite.
Prerequisite: Social Analysis 10
Economics 2810a. Labor Market Analysis
Catalog Number: 4862
Lawrence F. Katz
Half course (fall term). M., W., 10–11:30. EXAM GROUP: 3, 4
Theoretical and empirical research on labor markets. Wage determination covers equalizing differences, human capital, job mobility, and incentive models. Labor supply covers life-cycle models. Labor demand includes minimum wage and union models.
[Economics 2810b. Labor Economics and Labor Market Institutions]
Catalog Number: 3206
Instructor to be determined
Half course (spring term). Hours to be arranged.
Examines the operation of the labor market and evaluation of labor market policies. Topics: labor econometrics, theories of wage determination, changes in the wage structure, unemployment, labor market institutions, and globalization and the labor market.
Note: Expected to be given in 2010–11.
Economics 2811. Social Economics
Catalog Number: 5188
Roland G. Fryer
Half course (spring term). M., W., 8–9:30. EXAM GROUP: 1, 2
Applies the tools of economics to explore social issues including crime, discrimination, racial and gender differences, poverty, family structure, urban problems, social interactions and peer effects, and intergenerational mobility.
Economics 2812. The Labor Economics Workshop
Catalog Number: 0230
Lawrence F. Katz, Richard B. Freeman, and Roland G. Fryer
Full course. W., 4–5:30. EXAM GROUP: 9
Focuses on research concerning the operation of labor markets.
Economics 2880. Economics of Science
Catalog Number: 7488
Richard B. Freeman
Half course (spring term). Th., 2:30–5:30. EXAM GROUP: 16, 17, 18
Analyzes economic issues regarding the role of science and RD in the economy and in the deployment and productivity of scientists, engineers, and highly skilled technical workers. Topics include: wage levels/employment prospects; stipend policy, education/recruitment, student unionization/post-doc organization, career choices/trajectories, with reference to women; scientific competition/collaboration.
Economics 2888r (formerly Economics 2888hf). Economics of Science and Engineering Workshop
Catalog Number: 6311
Richard B. Freeman
Half course (fall term; repeated spring term). F., 12–1:30. EXAM GROUP: 5, 6
Focus on work force and career issues. Topics include: Effects of globalization on work force and innovation, growth of networks in work; impact of career incentives on productivity; university policies; mobility between academe and industry; link between ideas and outputs.
Note: Offered jointly with the Business School as 4245.
*Economics 3005. Reading and Research
Catalog Number: 3493
Members of the Department
Individual work or work in small groups (with a professor or lecturer in residence) in preparation for the general examination for the PhD degree, or work on special topics not included in course offerings.
*Economics 3010. Direction of Doctoral Dissertations
Catalog Number: 4579
Members of the Department
Note: In all cases, the dissertation topic must have been formally submitted to, and approved by, a dissertation adviser.
*Economics 3011. Research in Behavior in Games and Markets
Catalog Number: 0109
Attila Ambrus 4665, Drew Fudenberg 3460, Jerry R. Green 1539, David I. Laibson 1241, Markus M. Möbius 3441, and Alvin E. Roth 564
Half course (fall term; repeated spring term). W., 11:30–1.
Serves mainly as a forum for presentations by graduate students of their current research. Work presented can be very preliminary and conjectural.
Prerequisite: Economics 2010a (or 2020a) and 2010b (or 2020b).
*Economics 3163hf. Research in Econometrics
Catalog Number: 4392
Gary Chamberlain 1745, Rustam Ibragimov 5329, Guido W. Imbens 2671, Dale W. Jorgenson 2000, and James H. Stock 1783
Half course (throughout the year). M., 12–2.
Participants discuss recent research in econometrics and present their own work in progress. Open to doctoral students in economics.
*Economics 3336hf. Research in Economic History
Catalog Number: 0639
Claudia Goldin 2667 (on leave spring term) and Eric Chaney 6129
Half course (throughout the year). M., 4–5:30.
Participants discuss recent research in economic history and present their own work in progress.
Note: Primarily, but not exclusively, for doctoral students in economics who have passed their oral examinations.
*Economics 3390hf. Research in Economic Development
Catalog Number: 2532
Michael R. Kremer 2112 (on leave fall term), Erica M. Field 5095 (on leave 2009-10), and Asim I. Khwaja (Kennedy School) 3994
Half course (throughout the year). M., at 12.
Participants discuss recent research in development economics and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.
*Economics 3410dhf. Research in Macroeconomics
Catalog Number: 2126
Alberto F. Alesina 2074, Robert J. Barro 1612 (on leave spring term), and David I. Laibson 1241 (on leave spring term)
Half course (throughout the year). Tu., 11:30–1.
Participants discuss recent research in macroeconomics and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.
*Economics 3450chf. Research in Public Economics and Fiscal Policy
Catalog Number: 3436
David M. Cutler 2954, Nadarajan Chetty 6276, Edward L. Glaeser 3219, and Lawrence F. Katz 1480 (on leave spring term)
Half course (throughout the year). Tu., 1–2:30.
Participants discuss recent research in public economics and fiscal policy and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.
*Economics 3460chf (formerly *Economics 3460chf). Research in Health Economics
Catalog Number: 5309
Joseph P. Newhouse (Kennedy School, Medical School, Public Health) 2425
Half course (throughout the year). Spring: Tu., 8–9:30.
Participants discuss recent research in health economics. Course may also include presentation of original research by participants. Open to doctoral students only.
*Economics 3530hf. Research in International Economics
Catalog Number: 5777
Pol Antràs 4666, Richard N. Cooper 7211 (on leave fall term), Gita Gopinath 5042, Elhanan Helpman 2334, and Joseph P. Newhouse (Kennedy School, Medical School, Public Health) 2425
Half course (throughout the year). W., at 12.
Participants discuss recent research in international economics and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.
*Economics 3650hf. Research in Industrial Organization
Catalog Number: 3318
Susan Athey 5334, Richard E. Caves 1414, Ulrich Doraszelski 5024, Julie H. Mortimer 3993, and Ariel Pakes 1774 (on leave spring term)
Half course (throughout the year). Tu., at 12.
Participants present their own research in progress in an informal setting. Open to doctoral students in economics who have passed their general examinations and are in the early stages of their dissertations.
*Economics 3660hf. The Law, Economics, and Organizations Workshop
Catalog Number: 4325
Lucian A. Bebchuk (Law School) 2042, Oliver S. Hart 3462, Louis E. Kaplow (Law School) 3223, Joshua Lerner (Business School) 1601, and Andrei Shleifer 2772 (on leave fall term)
Half course (throughout the year). M., 12:30–2.
The presentation of work in progress in the field of law, economics, and organizations. Presentations by members of the various Harvard faculties, outside speakers, and graduate students.
Note: Offered jointly with the Law School as 96250-11 and with the Business School as 4670.
*Economics 3680hf. Research in Environmental Economics
Catalog Number: 1227
Robert N. Stavins (Kennedy School) 2093
Half course (throughout the year). Fall: F., at 12; Spring: F., 12–1:30.
Participants discuss recent research in environmental and natural resource economics and present their own work in progress.
Note: Open to doctoral students only.
*Economics 3723hf. Research in Financial Economics
Catalog Number: 4107
Efraim Benmelech 5419, John Y. Campbell 1230, and Jeremy C. Stein 3752 (on leave spring term)
Half course (throughout the year). F., 12–1:30.
Participants discuss recent research in financial economics and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.
Note: Offered jointly with the Business School as 4601.
*Economics 3810chf. Research in Labor Economics
Catalog Number: 4066
Lawrence F. Katz 1480 (on leave spring term), Roland G. Fryer 5523, Edward L. Glaeser 3219, and Claudia Goldin 2667 (on leave spring term)
Half course (throughout the year). Tu., 1–2:30.
Participants discuss recent research in labor economics and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.