Economics

Course Listing

Economics

The Department of Economics offers courses in the principles of economics, microeconomics, macroeconomics, financial economics, the economics of banking and money, industrial organization, economic development, political economics, labor economics, and econometrics. The department also offers courses in game theory, emerging market economies, public economics, gender and economics, race and economics, eastern European post-Soviet economics, Asian economics, and globalization.

For questions about specific courses, contact the department:

Departmental Office: 1022 International Affairs Building
212-854-3680
Office Hours: Monday–Friday, 9 a.m.–5 p.m.

Web: www.columbia.edu/cu/economics

Departmental Advisers
Advisers in the following areas to be announced. Please check the department's Web site.
Economics-Mathematics
Economics-Statistics
Economics-Philosophy
Economics-Political Science
Economics-Operations Research

Seminar Registration

Seminars are only open to degree-tracked economics majors. Registration is conducted by the Economics Department on the first day of each term. For seminar requirements, check the online bulletin. For registration information, check the department Web site.

ECON BC1003 Introduction to Economic Reasoning. 3 points.

BC: Fulfillment of General Education Requirement: Social Analysis (SOC I)., BC: Fulfillment of General Education Requirement: Social Analysis (SOC II).

Covers basic elements of microeconomic and marcoeconomic reasoning at an introductory level. Topics include Individual Constraints and Preferences, Production by Firms, Market Transactions, Competition, The Distribution of Income, Technological Progress and Growth, Unemployment and Inflation, the Role of Government in the Economy.  Note: Students cannot get credit for ECON BC1003 if they have taken the Columbia introductory course ECON W1105 Principles of Economics.

Spring 2018: ECON BC1003
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1003 001/04582 T Th 10:10am - 11:25am
302 Barnard Hall
Belinda Archibong 3 46/50
ECON 1003 002/06347 T Th 11:40am - 12:55pm
328 Milbank Hall
Sonia Pereira 3 39/50
Fall 2018: ECON BC1003
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1003 001/04582 M W 1:10pm - 2:25pm
Room TBA
Sharon Harrison 3 18/25
ECON 1003 002/03020 T Th 10:10am - 11:25am
Room TBA
Homa Zarghamee 3 24/25
ECON 1003 003/02004 T Th 11:40am - 12:55pm
Room TBA
Sonia Pereira 3 23/25

ECON BC1007 Mathematical Methods for Economics. 4 points.

BC: Fulfillment of General Education Requirement: Quantitative and Deductive Reasoning (QUA).

Covers basic mathematical methods required for intermediate theory courses and upper level electives in economics, with a strong emphasis on applications. Topics include simultaneous equations, functions, partial differentiation, optimization of functions of more than one variable, constrained optimization, and financial mathematics. This course satisfies the Calculus requirement for the Economics major. NOTE: students who have previously taken Intermediate Micro Theory (ECON BC3035 or the equivalent) are *not* allowed to take Math Methods for Economics.

Spring 2018: ECON BC1007
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1007 001/03020 M W 10:10am - 11:25am
405 Milbank Hall
Sharon Harrison 4 92
Fall 2018: ECON BC1007
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1007 001/04511 M W 10:10am - 11:25am
Room TBA
Sharon Harrison 4 40

ECON BC2012 Economic History of Western Europe. 3 points.

BC: Fulfillment of General Education Requirement: Historical Studies (HIS).
Not offered during 2018-19 academic year.

The course is an introduction to the transformative economic developments that began in Western Europe and spread globally. It applies economic and empirical reasoning to analyze the underlying forces of modern economic development from pre-modern Europe to the Industrial Revolution and the emergence of a global economy.

ECON BC2411 Statistics for Economics. 4 points.

BC: Fulfillment of General Education Requirement: Quantitative and Deductive Reasoning (QUA).

Elementary computational methods in statistics. Basic techniques in regression analysis of econometric models. One-hour weekly recitation sessions to complement lectures.

Fall 2018: ECON BC2411
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 2411 001/03459 T Th 6:10pm - 7:25pm
Room TBA
Elizabeth Kopko 4 11/50

ECON BC3011 Inequality and Poverty. 3 points.

Prerequisites: ECON BC3035 or ECON BC3033, or permission of the instructor.

Conceptualization and measurement of inequality and poverty, poverty traps and distributional dynamics, economics and politics of public policies, in both poor and rich countries.

Spring 2018: ECON BC3011
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3011 001/05251 T Th 11:40am - 12:55pm
323 Milbank Hall
Ashley Timmer 3 61/70
Fall 2018: ECON BC3011
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3011 001/01262 T Th 10:10am - 11:25am
Room TBA
Ashley Timmer 3 77

ECON BC3012 Economics of Education. 3 points.

Prerequisites: ECON BC3035 and ECON BC2411 or permission of the instructor.

Analyzes education policies and education markets from an economic perspective. Examines challenges that arise when researchers attempt to identify the causal effects of inputs. Other topics: (1) education as an investment, (2) public school finance, (3) teacher labor markets, (4) testing/accountability programs, (5) school choice programs, and (6) urban public school reforms.

ECON BC3013 Economic History of the United States. 3 points.

BC: Fulfillment of General Education Requirement: Historical Studies (HIS).

Prerequisites: ECON BC3035 or ECON BC3033, or permission of the instructor.

Economic transformation of the United States from a small, open agrarian society in the late colonial era to the leading industrial economy of the 20th century. Emphasis is given to the quantitative, institutional, and spatial dimensions of economic growth, and the relationship between the changing structures of the economy and state.

Spring 2018: ECON BC3013
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3013 001/02981 M W 10:10am - 11:25am
Ll104 Diana Center
David Weiman 3 50

ECON BC3014 Entrepreneurship. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON BC3035, or ECON BC3033, or equivalent, or permission of the instructor.

Examines theoretical, empirical, and normative studies of entrepreneurial behavior and its significance. Examines their relationships with risk-taking and innovation. Explores entrepreneurship as applicable to a variety of behaviors, activities or contexts, including large organizations, small business networks, new venture creation, comparative financial institutions that support entrepreneurial environments, and entrepreneurship's contributions to a dynamic economy.

ECON BC3017 Economics of Business Organization. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON BC3035 or permission of the instructor.

Economics of firm organization and the evolution of the modern business enterprise. The function of organizations in coordinating the use of economic resources. The role of technology, labor, management, and markets in the formation of the business enterprise. Includes international comparisons and attention to alternative economic theories on the role of business organizations on national competitive advantage.

ECON BC3018 Econometrics. 4 points.

Prerequisites: ECON BC3033 or ECON BC3035, and ECON BC2411 or STAT W1111 or STAT W1211, or permission of the instructor.

Specification, estimation and evaluation of economic relationships using economic theory, data, and statistical inference; testable implications of economic theories; econometric analysis of topics such as consumption, investment, wages and unemployment, and financial markets.

Spring 2018: ECON BC3018
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3018 001/04759 M 10:00am - 10:50am
222 Milbank Hall
Homa Zarghamee 4 35/45
ECON 3018 001/04759 M 9:00am - 9:50am
222 Milbank Hall
Homa Zarghamee 4 35/45
Fall 2018: ECON BC3018
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3018 001/01690 T Th 1:10pm - 2:25pm
Room TBA
Daniel Hamermesh 4 32/50

ECON BC3019 Labor Economics. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON BC3035, or permission of the instructor.

Factors affecting the allocation and remuneration of labor; population structure; unionization and monopsony; education and training, mobility and information; sex and race discrimination; unemployment; and public policy.

Fall 2018: ECON BC3019
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3019 001/08324 T Th 2:40pm - 3:55pm
Room TBA
0. FACULTY 3 6/35

ECON BC3033 Intermediate Macroeconomic Theory. 4 points.

Prerequisites: An introductory course in economics and a functioning knowledge of high school algebra and analytical geometry or permission of the instructor.

Systematic exposition of current macroeconomic theories of unemployment, inflation, and international financial adjustments.

Spring 2018: ECON BC3033
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3033 001/06157 M W 1:10pm - 2:25pm
Ll104 Diana Center
Luis Silva-Yanez 4 38/50
Fall 2018: ECON BC3033
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3033 001/06157 M W 8:40am - 9:55am
Room TBA
0. FACULTY 4 46/50

ECON BC3035 Intermediate Microeconomic Theory. 4 points.

Prerequisites: An introductory course in microeconomics or a combined macro/micro principles course (ECON BC1003 or ECON W1105, or the equivalent) and one semester of calculus or ECON BC1007, or permission of the instructor.

Preferences and demand; production, cost, and supply; behavior of markets in partial equilibrium; resource allocation in general equilibrium; pricing of goods and services under alternative market structures; implications of individual decision-making for labor supply; income distribution, welfare, and public policy. Emphasis on problem solving.

Spring 2018: ECON BC3035
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3035 001/04588 T Th 6:10pm - 7:25pm
323 Milbank Hall
Lalith Munasinghe 4 31/50
Fall 2018: ECON BC3035
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3035 001/04588 T Th 11:40am - 12:55pm
Room TBA
John Park 4 50/50

ECON BC3038 International Money and Finance. 3 points.

Prerequisites: ECON BC3033.

Introduction to balance of payments and exchange rate theory; capital mobility and expectations; internal and external adjustment under fixed and flexible exchange rates; international financial markets; capital mobility and expectations; international policy coordination and optimum currency areas; history of the international monetary system.

ECON BC3039 Environmental and Natural Resource Economics. 3 points.

Prerequisites: ECON BC1003 or ECON W1105. Prerequisite for Economics majors: ECON BC3035.

Link between economic behavior and environmental quality: valuation of non-market benefits of pollution abatement; emissions standards; taxes; and transferable discharge permits. Specific problems of hazardous waste; the distribution of hazardous pollutants across different sub-groups of the U.S. population; the exploitation of commonly owned natural resources; and the links between the environment, income distribution, and economic development.

Spring 2018: ECON BC3039
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3039 001/08879 T Th 2:40pm - 3:55pm
Ll103 Diana Center
Belinda Archibong 3 45/60

ECON BC3041 Theoretical Foundations of Political Economy. 3 points.

BC: Fulfillment of General Education Requirement: Reason and Value (REA)., BC: Fulfillment of General Education Requirement: Ethics and Values.

Prerequisites: An introductory course in economics or permission of the instructor.

Intellectual origins of the main schools of thought in political economy. Study of the founding texts in classical political economy, Marxian economics, neoclassicism, and Keynesianism.

Spring 2018: ECON BC3041
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3041 001/07742 M W 4:10pm - 5:25pm
323 Milbank Hall
Sonia Pereira 3 47/48
Fall 2018: ECON BC3041
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3041 001/07742 M W 4:10pm - 5:25pm
Room TBA
Sonia Pereira 3 74/75

ECON BC3045 Business Cycles. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON BC3033.

Theories and policy implications of business cycles. IS/LM, AS/AD and the Phillips Curve; dynamic general equilibrium models based on microfoundations including the Real Business Cycle model; New Keynesian models; models of the political business cycle. Particular episodes in the macroeconomic history of the US will provide case studies in which to study these models and the application of policies within.

ECON BC3047 International Trade. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON BC3035.

Causes and consequences of international trade and investment. Theoretical models of trade. Trade policy including restrictions or regulations on international trade and the effects of such policies on economic welfare, economic growth and wage inequality. Multinationals, foreign direct investment, and some aspects of the current debate on globalization.

ECON BC3099 Independent Study. 1-3 points.

Prerequisites: ECON BC3033 or ECON BC3035 or permission of the instructor.

Topic(s), requirements, workload and point value to be determined in consultation with faculty advisor. Forms available at the Office of the Registrar.

ECON BC3270 Topics in Money and Finance. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON BC3033 and ECON BC3035. Limited to 25 students.

Classic questions in monetary economics, including but not limited to: inside and outside money, financial crisis and hyperinflation, central banking and the payments system, liquidity and market making, monetary policy and exchange rates.

ECON G4235 Historical Foundations of Modern Economics: Adam Smith to J.M. Keynes. 3 points.

Prerequisites: ECON W3211 and W3213.

A survey of some of the major intellectual developments that have created the discipline of economics. Particular attention to the works of Adam Smith, Alfred Marshall, Irving Fisher, and J. M. Keynes.

ECON G4301 Economic Growth and Development. 3 points.

Prerequisites: ECON W3211 and W3213.

Empirical findings on economic development, theoretical development models; problems of efficient resource allocation in a growing economy; balanced and unbalanced growth in closed and open economic systems; the role of capital accumulation and innovation in economic growth.

ECON G4311 Economic History of the United States. 3 points.

BC: Fulfillment of General Education Requirement: Historical Studies (HIS).
Not offered during 2018-19 academic year.

Economic development of the U.S., with special attention to the forces and factors responsible for economic growth: innovation, capital formation, transportation, banking, international trade and capital movements, immigration, and the labor supply. The interactions of public policy and private decision making.

ECON G4313 Economic History of Europe. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON W3211 or the equivalent.

The economic development of Europe from 1700 to the present, with emphasis on those factors responsible for modern economic growth and its pace; technical change, capital formation, labor supply, national and international finance, distribution, international trade, social structure, and the role of public policy.

ECON G4526 Transition Reforms, Globalization and Financial Crisis. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON W3211 and W3213.

Covers reform issues in transition economies such as price liberalizatin, currency reform, asset privatization, macroeconomic stabilization, trade liberalization and exchange rate policies, and foreign resource flows with suitable examples from the experience of the transition economies of Russia, the post-Soviet states, East-central Europe, China and Vietnam.

ECON G4527 Economic Organization and Development of China. 3 points.

Prerequisites: ECON W3211 and W3213.

An analytical survey of the economic organization of China, with reference to population and land resources, agriculture, industries, transportation, trade, and finance. The social and cultural forces affecting economic development.

ECON G6229 The Urban Economy. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON G6211 or the instructor's permission.

Location theory, land use, housing discrimination, and transportation, including the effects of government policy.

ECON G6304 The Political Economy of Collective Action. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON G6211-G6212.

Exploration of the possibility of explaining national economic policies in terms of interaction of economic interest groups, thus endogenizing the political element of economic systems. Topics include problems of  group and coalition formations, the logic of collective action, and the economic input into the political process. Special attention is paid to recent literature on endogenous tariff formation and other restrictive measures.

ECON G6450 Natural Resource and Environmental Economics. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON G6211 or the instructor's permission.

Intended for graduate students in economics and covers more advanced material than ECON W4450. The economic theory of nonrenewable natural resources (minerals and energy), renewable natural resources (forestries and fisheries), and pollution management.  Tools of dynamic optimization; optimal resource extraction in deterministic and stochastic settings; dynamic welfare analysis, optimality, sustainability and green national income accounting; instrument choice for pollution management (taxes, quotas, tradeable permits); institutional design (given imperfect information and agency problems); and techniques for environmental valuation.

ECON G6490 Economics of Transition. 3 points.

Not offered during 2018-19 academic year.

Topics in the new economics field of Transition Economics and the problems raised by the transformation of soviet-type socialist economies into modern market economics.

ECON G6521 The Economics of European Integration. 3 points.

Not offered during 2018-19 academic year.

Theory and institutions of European economic integration stressing contemporary economic policies and problems of the European Communities.  Customs union theory; empirical research on the trade and welfare effects of economic integration; theory of optimum currency areas and the mechanisms of the European Monetary System; member-state macroeconomic policy; the Common Agricultural Policy of the EEC; regional, industrial and social policy; external economic relations of the EEC; US–EC trade and monetary tensions.

ECON G6530 Problems of Japanese Economy. 3 points.

Enrollment limited to 15. Primarily intended for Ph.D. students who want to specialize in Japan.Not offered during 2018-19 academic year.

Prerequisites: ECON G4325.

Salient issues of the Japanese economy that have attracted considerable academic attention.

ECON G6920 Capitalism in the Anthropocene. 3 points.

Prerequisites: microeconomics and macroeconomics, W1105, W3211 and W3213, and basic calculus and algebra such as V1101 or V1102, V1201x or y, and Calculus 111A.

Capitalism is evolving in response to driving economic issues in the Anthropocene, as humans have become the dominant geological force in the planet. These issues include Globalization and the evolution of the world's financial markets, the knowledge revolution and the global environmental crisis. Can Capitalism adapt to sustainable development? Can financial markets evolve and help resolve the climate issue, the water crisis, and the destruction of global biodiversity? The seminar will cover the new types of markets that are emerging and changing capitalism so it becomes consistent with sustainable development and closing the gap between the rich and the poor nations, while giving rise to a new definition of GDP that aligns economic progress with the survival of the human species.

ECON UN3265 The Economics of Money and Banking. 3 points.

Prerequisites: ECON BC3033 and ECON BC3035 or the equivalent.

Introduction to the principles of money and banking. The intermediary institutions of the American economy and their historical developments, current issues in monetary and financial reform.

Spring 2018: ECON UN3265
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3265 001/60204 M W 4:10pm - 5:25pm
207 Mathematics Building
Tri Vi Dang 3 110/130
Fall 2018: ECON UN3265
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3265 001/05362 M W 2:40pm - 3:55pm
Room TBA
0. FACULTY 3 100/100

ECON W2290 India in Transition. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON W1105.

This course focuses on the growth and development of the Indian economy from the late 16th century to the present, and considers the changes as the region came in contact with the global economy. The course begins with the transition from the Mughal empire to the British and the experience of colonial rule. The course will then turn to the experience of post-independence India and the subsequent changes in the economy. There will be particular emphasis on the service sector led growth of recent years.

ECON W4020 Economics of Uncertainty and Information. 3 points.

Prerequisites: ECON W3211, W3213 and STAT 1201.

Topics include behavior uncertainty, expected utility hypothesis, insurance, portfolio choice, principle agent problems, screening and signaling, and information theories of financial intermediation.

ECON W4230 Economics of New York City. 3 points.

Prerequisites: ECON W3211, W3213 and STAT 1201.

This course takes New York as our laboratory. Economics is about individual choice subject to constraints and the ways that choices sum up to something often much more than the parts. The fundamental feature of any city is the combination of those forces that bring people together and those that push them apart. Thus both physical and social space will be central to our discussions. The underlying theoretical and empirical analysis will touch on spatial aspects of urban economics, regional, and even international economics. We will aim to see these features in New York City taken as a whole, as well as in specific neighborhoods of the city. We will match these theoretical and empirical analyses with readings that reflect close observation of specific subjects. The close observation is meant to inspire you to probe deeply into a topic in order that the tools and approaches of economics may illuminate these issues in a fresh way.

ECON W4308 Comparative Economic History of the Americas. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON W3211 and W3213.

A visiting faculty member to the Institute for Latin American Studies will offer a course on the economic history of the Americas. The course examines the evolution of the economic structure and economic performance of the Americas from the Colonial times until the most recent past. The course will be carried out in chronological order, comparing North America and Latin America as a whole and sub regions within the larger regions: Canada and the United States in North America and México, Central America, the Caribbean, the Andes, Brazil and the Southern Cone in Latin America. Econ-philosophy joint majors and Financial Economics majors may not take this course for elective credit.

ECON W4413 Econometrics of Time Series and Forecasting. 3 points.

Prerequisites: W3211, W3213, W3412.
Corequisites: MATH V2010.

This course focuses on the application of econometric methods to time series data; such data is common in the testing of macro and financial economics models. It will focus on the application of these methods to data problems in macro and finance.

ECON W4615 Law and Economics. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON W3211 and W3213.

The course is intended to provide an economic framework for understanding the law and legal institutions. Topics covered include property law, contract theory and torts.

ECON W4625 Economics of the Environment. 3 points.

Not offered during 2018-19 academic year.

Prerequisites: ECON W3211 and W3213.

Microeconomics is used to study who has an incentive to protect the environment. Government's possible and actual role in protecting the environment is explored. How do technological change, economic development, and free trade affect the environment? Emphasis on hypothesis testing and quantitative analysis of real-world policy issues.

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