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.

Fall 2016: ECON BC1003
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1003 001/04582 M W 8:40am - 9:55am
Ll103 Diana Center
David Weiman 3 34/50
ECON 1003 002/03020 M W 10:10am - 11:25am
903 Altschul Hall
Dolore Bushati 3 33/50
ECON 1003 003/02004 M W 2:40pm - 3:55pm
Ll104 Diana Center
Aboozar Hadavand 3 40/50
Spring 2017: ECON BC1003
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1003 001/04582 T Th 4:10pm - 5:25pm
Ll104 Diana Center
Homa Zarghamee 3 56/50
ECON 1003 002/06347 M W 1:10pm - 2:25pm
Ll103 Diana Center
Aboozar Hadavand 3 47/50

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.

Fall 2016: ECON BC1007
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1007 001/04511 M W 10:10am - 11:25am
302 Barnard Hall
Sharon Harrison 4 48
Spring 2017: ECON BC1007
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1007 001/03020 M W 10:10am - 11:25am
Ll103 Diana Center
Sharon Harrison 4 74

ECON BC2012 Economic History of Western Europe. 3 points.

BC: Fulfillment of General Education Requirement: Historical Studies (HIS).
Not offered during 2016-17 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 2016: ECON BC2411
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 2411 001/08324 M W 11:40am - 12:55pm
207 Milbank Hall
Randall Reback 4 33

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.

Fall 2016: ECON BC3011
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3011 001/09446 T Th 10:10am - 11:25am
328 Milbank Hall
Ashley Timmer 3 58/56

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.

Fall 2016: ECON BC3012
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3012 001/04244 M W 2:40pm - 3:55pm
302 Milbank Hall
Randall Reback 3 23

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 2017: ECON BC3013
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3013 001/02981 M W 10:10am - 11:25am
302 Barnard Hall
David Weiman 3 42/45

ECON BC3014 Entrepreneurship. 3 points.

Not offered during 2016-17 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 2016-17 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.

Fall 2016: ECON BC3018
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3018 001/01690 F 2:00pm - 3:00pm
222 Milbank Hall
Homa Zarghamee 4 44
ECON 3018 001/01690 T Th 4:10pm - 5:25pm
903 Altschul Hall
Homa Zarghamee 4 44
Spring 2017: ECON BC3018
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3018 001/04759 M W 11:40am - 12:55pm
328 Milbank Hall
Anja Tolonen 4 22
ECON 3018 001/04759 Th 1:10pm - 2:00pm
222 Milbank Hall
Anja Tolonen 4 22

ECON BC3019 Labor Economics. 3 points.

Not offered during 2016-17 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.

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.

Fall 2016: ECON BC3033
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3033 001/06157 T Th 7:40pm - 8:55pm
504 Diana Center
Benjamin Zweig 4 33/60
Spring 2017: ECON BC3033
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3033 001/06157 M W 6:10pm - 7:25pm
Ll103 Diana Center
Luis Silva-Yanez 4 40/55

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.

Fall 2016: ECON BC3035
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3035 001/04588 M W 5:40pm - 6:55pm
Ll104 Diana Center
Lalith Munasinghe 4 48
Spring 2017: 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 35/60

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.

Fall 2016: ECON BC3038
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3038 001/03989 T Th 1:10pm - 2:25pm
405 Milbank Hall
Andre Burgstaller 3 38

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 2017: ECON BC3039
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3039 001/08879 T Th 10:10am - 11:25am
Ll103 Diana Center
Belinda Archibong 3 58/60

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.

Fall 2016: ECON BC3041
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3041 001/07742 M W 2:40pm - 3:55pm
504 Diana Center
David Weiman 3 36/45
ECON 3041 002/08111 T Th 10:10am - 11:25am
Ll104 Diana Center
Belinda Archibong 3 42/45
Spring 2017: ECON BC3041
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3041 001/07742 T Th 1:10pm - 2:25pm
304 Barnard Hall
Andre Burgstaller 3 67

ECON BC3045 Business Cycles. 3 points.

Not offered during 2016-17 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 2016-17 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 2016-17 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 G4311 Economic History of the United States. 3 points.

BC: Fulfillment of General Education Requirement: Historical Studies (HIS).
Not offered during 2016-17 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 2016-17 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 2016-17 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 2016-17 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 2016-17 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 2016-17 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 2016-17 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 2016-17 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 2016-17 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 GU4020 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.

Fall 2016: ECON GU4020
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4020 001/75030 T Th 2:40pm - 3:55pm
703 Hamilton Hall
Pierre-Andre Chiappori 3 21/54

ECON GU4213 Advanced Macroeconomics. 3 points.

Prerequisites: ECON W3211, W3213, W3412 and MATH V2010.

An introduction to the dynamic models used in the study of modern macroeconomics. Applications of the models will include theoretical issues such as optimal lifetime consumption decisions and policy issues such as inflation targeting. This course is strongly recommended for students considering graduate work in economics.

Fall 2016: ECON GU4213
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4213 001/21435 M W 2:40pm - 3:55pm
233 Seeley W. Mudd Building
Andres Drenik 3 23/48

ECON GU4228 Urban Economics. 3 points.

Prerequisites: ECON W3211 and W3213.

Congestion and other games, and the pricing of transit services. Location theory and land rents. Segregation and discrimination. The fiscal structure of American cities. Zoning and the taking issue. Abandonment and city-owned property. Economic development, abatements, subsidies, and eminent domain. Crime, deadweight losses, and the allocation of police services.

Fall 2016: ECON GU4228
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4228 001/17754 T Th 2:40pm - 3:55pm
702 Hamilton Hall
Brendan O'Flaherty 3 80/86

ECON GU4235 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.

Spring 2017: ECON GU4235
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4235 001/02473 T Th 6:10pm - 7:25pm
Ll103 Diana Center
Andre Burgstaller 3 47/60

ECON GU4251 Industrial Organization. 3 points.

Prerequisites: ECON W3211 and W3213.

The study of industrial behavior based on game-theoretic oligopoly models. Topics include pricing models, strategic aspects of business practice, vertical integration, and technological innovation.

Fall 2016: ECON GU4251
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4251 001/20144 M W 4:10pm - 5:25pm
602 Hamilton Hall
Katherine Ho 3 55/86
Spring 2017: ECON GU4251
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4251 001/17108 M W 4:10pm - 5:25pm
329 Pupin Laboratories
Katherine Ho 3 70/96

ECON GU4280 Corporate Finance. 3 points.

Prerequisites: ECON W3211, ECON W3213 and STAT 1201.

An introduction to the economics principles underlying the financial decisions of firms. The topics covered include bond and stock valuations, capital budgeting, dividend policy, market efficiency, risk valuation, and risk management. For information regarding REGISTRATION for this course, go to: http://econ.columbia.edu/registration-information.

Fall 2016: ECON GU4280
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4280 001/14561 T Th 10:10am - 11:25am
5ab Kraft Center
Akash Bandyopadhyay 3 58/62
ECON 4280 002/70512 T Th 4:10pm - 5:25pm
602 Hamilton Hall
Tri Vi Dang 3 84/75
Spring 2017: ECON GU4280
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4280 001/60890 T Th 1:10pm - 2:25pm
517 Hamilton Hall
Gailen Hite 3 56/65
ECON 4280 002/71516 T Th 4:10pm - 5:25pm
413 Kent Hall
Tri Vi Dang 3 78/75

ECON GU4301 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.

Fall 2016: ECON GU4301
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4301 001/26534 M W 8:40am - 9:55am
717 Hamilton Hall
Xavier Sala-I-Martin 3 71/80

ECON GU4321 Economic Development. 3 points.

Prerequisites: ECON W3211 and W3213.

Historical comparative examination of the economic development problems of the less developed countries; the roles of social institutions and human resource development; the functions of urbanization, rural development, and international trade.

Fall 2016: ECON GU4321
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4321 001/29692 T Th 11:40am - 12:55pm
633 Seeley W. Mudd Building
Caterina Musatti 3 35/86

ECON GU4325 Economic Organization and Development of Japan. 3 points.

CC/GS/SEAS: Partial Fulfillment of Global Core Requirement

Prerequisites: ECON W3211 and W3213.

The growth and structural changes of the post-World War II economy; its historical roots; interactions with cultural, social, and political institutions; economic relations with the rest of the world.

Fall 2016: ECON GU4325
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4325 001/17888 T Th 10:10am - 11:25am
614 Schermerhorn Hall
David Weinstein 3 80/110

ECON GU4370 Political Economy. 3 points.

Prerequisites: ECON W3211, W3213, STAT 1201 (or POLS 4710 for those who declared prior to Spring 2014).

The course studies the interaction between government and markets. The first part discusses market failures and the scope and limits of government intervention, including the use of modified market-type tools (for example, cap-and-trade regulations for pollution). The second part discusses collective decision-making, in particular voting and its properties and pathologies. The final part discusses economic inequality and government's role in addressing it.

Fall 2016: ECON GU4370
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4370 001/15836 M W 8:40am - 9:55am
209 Havemeyer Hall
Alessandra Casella 3 45/86

ECON GU4412 Advanced Econometrics. 3 points.

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

The linear regression model will be presented in matrix form and basic asymptotic theory will be introduced. The course will also introduce students to basic time series methods for forecasting and analyzing economic data. Students will be expected to apply the tools to real data.

Fall 2016: ECON GU4412
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4412 001/28043 T Th 1:10pm - 2:25pm
503 Hamilton Hall
Serena Ng 3 26/50

ECON GU4415 Game Theory. 3 points.

Prerequisites: ECON W3211 and W3213.

Introduction to the systematic treatment of game theory and its applications in economic analysis.

Fall 2016: ECON GU4415
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4415 001/72362 M W 10:10am - 11:25am
310 Fayerweather
Prajit Dutta 3 80/96
ECON 4415 002/99691 M W 1:10pm - 2:25pm
329 Pupin Laboratories
Qingmin Liu 3 42/96
Spring 2017: ECON GU4415
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4415 001/76310 T Th 2:40pm - 3:55pm
417 International Affairs Bldg
Navin Kartik 3 72/110

ECON GU4465 Public Economics. 3 points.

Prerequisites: ECON W3211 and W3213.

Types of market failures and rationales for government intervention in the economy. Benefit-cost analysis and the theory of public goods. Positive and normative aspects of taxation. The U.S. tax structure.

Fall 2016: ECON GU4465
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4465 001/13314 M W 2:40pm - 3:55pm
524 Seeley W. Mudd Building
Wojciech Kopczuk 3 25/86
Spring 2017: ECON GU4465
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4465 001/62944 M W 10:10am - 11:25am
313 Fayerweather
Francois Gerard 3 41/96

ECON GU4500 International Trade. 3 points.

Prerequisites: ECON W3211 and W3213.

The theory of international trade, comparative advantage and the factor endowments explanation of trade, analysis of the theory and practice of commercial policy, economic integration. International mobility of capital and labor; the North-South debate.

Fall 2016: ECON GU4500
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4500 001/73328 T Th 5:40pm - 6:55pm
614 Schermerhorn Hall
Reka Juhasz 3 50/86
Spring 2017: ECON GU4500
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4500 001/28042 M W 8:40am - 9:55am
209 Havemeyer Hall
Reka Juhasz 3 78/110

ECON UN1105 Principles of Economics. 4 points.

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

Corequisites: ECON W1155 recitation section with the same instructor.

How a market economy determines the relative prices of goods, factors of production, and the allocation of resources and the circumstances under which it does it efficiently. Why such an economy has fluctuations and how they may becontrolled.

Fall 2016: ECON UN1105
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1105 001/22265 T Th 8:40am - 9:55am
501 Schermerhorn Hall
Sunil Gulati 4 184/210
ECON 1105 002/67658 M W 11:40am - 12:55pm
501 Schermerhorn Hall
Caterina Musatti 4 197/210
ECON 1105 003/70289 M W 8:40am - 9:55am
501 Northwest Corner
Prajit Dutta 4 154/164
Spring 2017: ECON UN1105
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1105 001/62590 M W 8:40am - 9:55am
501 Schermerhorn Hall
Sunil Gulati 4 197/220
ECON 1105 002/69684 M W 11:40am - 12:55pm
501 Schermerhorn Hall
Caterina Musatti 4 173/189
ECON 1105 003/20327 T Th 4:10pm - 5:25pm
501 Schermerhorn Hall
Brendan O'Flaherty 4 77/189

ECON UN2105 The American Economy. 3 points.

Prerequisites: ECON W1105.

The course surveys issues of interest in the American economy, including economic measurement, well-being and income distribution, business cycles and recession, the labor and housing markets, saving and wealth, fiscal policy, banking and finance, and topics in central banking. We study historical issues, institutions, measurement, current performance and recent research.

Fall 2016: ECON UN2105
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 2105 001/60116 M W 10:10am - 11:25am
229 Thompson Hall (Tc)
Sally Davidson 3 57/65

ECON UN2257 Global Economy. 3 points.

Prerequisites: ECON W1105.

Covers five areas within the general field of international economics: (i) microeconomic issues of why countries trade, how the gains from trade are distributed, and protectionism; (ii) macroeconomic issues such as exchange rates, balance of payments and open economy macroeconomic adjustment, (iii) the role of international institutions (World Bank, IMF, etc); (iv) economic development and (v) economies in transition.

Spring 2017: ECON UN2257
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 2257 001/29620 T Th 11:40am - 12:55pm
209 Havemeyer Hall
Ronald Miller 3 89/220

ECON UN3025 Financial Economics. 3 points.

Prerequisites: ECON W3211, W3213 and STAT 1201.

Institutional nature and economic function of financial markets. Emphasis on both domestic and international markets (debt, stock, foreign exchange, eurobond, eurocurrency, futures, options, and others). Principles of security pricing and portfolio management; the Capital Asset Pricing Model and the Efficient Markets Hypothesis.

Fall 2016: ECON UN3025
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3025 001/25322 T Th 11:40am - 12:55pm
833 Seeley W. Mudd Building
Sally Davidson 3 107/125
ECON 3025 002/13926 M W 11:40am - 12:55pm
501 Northwest Corner
Steven Ho 3 57/125
Spring 2017: ECON UN3025
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3025 002/62814 T Th 11:40am - 12:55pm
501 Schermerhorn Hall
Sally Davidson 3 146/150

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.

Fall 2016: ECON UN3265
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3265 001/05362 M W 6:10pm - 7:25pm
202 Altschul Hall
Perry Mehrling 3 101
Spring 2017: ECON UN3265
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3265 001/16495 M W 4:10pm - 5:25pm
207 Mathematics Building
Tri Vi Dang 3 130/110

ECON W2290 India in Transition. 3 points.

Not offered during 2016-17 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 W4308 Comparative Economic History of the Americas. 3 points.

Not offered during 2016-17 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 W4438 Economics of Race in the U.S.. 3 points.

Not offered during 2016-17 academic year.

Prerequisites: ECON W3211 and ECON W3213. ECON W4400 is strongly recommended.

What differences does race make in the U.S. economy? Why does it make these differences? Are these differences things we should be concerned about? If so, what should be done? The course examines labor markets, housing markets, capital markets, crime, education, and the links among these markets. Both empirical and theoretical contributions are studied.

ECON W4505 International Macroeconomics. 3 points.

Not offered during 2016-17 academic year.

Prerequisites: ECON W3211 and W3213.

Introduction to monetary problems in international trade. Topics include macroeconomics of the open economy under fixed and flexible exchange rates, international adjustment under the gold standard, monetary problems of the interwar period, the Breton Woods agreement, transition to flexible exchange rates, planned reforms of the international monetary system andthe Eurocurrency markets.

ECON W4615 Law and Economics. 3 points.

Not offered during 2016-17 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 2016-17 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.

ECON W4700 Financial Crises. 3 points.

Prerequisites: ECON W3211, W3213 and STAT 1201.

This course uses economic theory and empirical evidence to study the causes of financial crises and the effectiveness of policy responses to these crises. Particular attention will be given to some of the major economic and financial crises in the past century and to the crisis that began in August 2007.

ECON W4750 Globalization and Its Risks. 3 points.

Prerequisites: ECON W3211 and W3213.

The world is being transformed by dramatic increases in flows of people, goods and services across nations. Globalization has the potential for enormous gains but is also associated to serious risks. The gains are related to international commerce where the industrial countries dominate, while the risks involve the global environment, poverty and the satisfaction of basic needs that affect in great measure the developing nations. Both are linked to a historical division of the world into the North and the South-the industrial and the developing nations. Key to future evolution are (1) the creation of new markets that trade privately produced public goods, such as knowledge and greenhouse gas emissions, as in the Kyoto Protocol; (2) the updating of the Breton Woods Institutions, including the creation of a Knowledge Bank and an International Bank for Environmental Settlements.

ECON W4850 Cognitive Mechanisms and Economic Behavior. 3 points.

Prerequisites: ECON W3211, W3213; STAT 1201.

Standard economic theory seeks to explain human behavior (especially in "economic" settings, such as markets) in terms of rational choice, which means that the choices that are made can be predicted on the basis of what would best serve some coherent objective, under an objectively correct understanding of the predictable consequences of alternative actions. Observed behavior often seems difficult to reconcile with a strong form of this theory, even if incentives clearly have some influence on behavior; and the course will discuss empirical evidence (both from laboratory experiments and observations "in the field") for some well-established "anomalies." But beyond simply cataloguing anomalies for the standard theory, the course will consider the extent to which departures from a strong version of rational choice theory can be understood as reflecting cognitive processes that are also evident in other domains such as sensory perception; examples from visual perception will receive particular attention. And in addition to describing what is known about how the underlying mechanisms work (something that is understood in more detail in sensory contexts than in the case of value-based decision making), the course will consider the extent to which such mechanisms --- while "suboptimal" from a normative standpoint that treats perfect knowledge of one's situation as costless and automatic --- might actually represent efficient uses of the limited information and bounded information-processing resources available to actual people (or other organisms). Thus the course will consider both ways in which the realism of economic analysis may be improved by taking into account cognitive processes, and ways in which understanding of cognitive processes might be advanced by considering the "economic" problem of efficient use of limited (cognitive) resources.

The University reserves the right to withdraw or modify the courses of instruction or to change the instructors as may become necessary.