Economics

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.

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.

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.

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.

Corequisites: ECON UN1155 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.

Corequisites: ECON UN1155 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.

Required Discussion section for ECON UN1105 Principles of Economics

Prerequisites: ECON UN1105 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.

The purpose of this course is to provide a basic introduction to accounting, including the
foundations of accounting concepts, the underlying mechanics, and the overall perspective required
to become intelligent users of accounting information. The course will focus on the main
financial statements, the nature of accrual measurement, and the information perspective. In addition,
we will explore some accounting methods in detail, such as revenue recognition, assets,
liabilities, and equity.
The overarching perspective is that accounting reports provide information that is useful for
a variety of purposes. In the course, I will also provide insights into how the financial markets
use accounting information to evaluate executives, predict future stock returns, assess firms’
riskiness, and allocate society’s resources to their most productive uses.

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.

Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 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.

Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 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.

The course is an introduction to the economic developments that gave rise to capitalist economies and economic globalization from 1500 to the 20th century. We apply economic and empirical reasoning to examine many transformations that have shaped the economies of the modern era—demographic, technological, and institutional changes. We compare the rise of Europe and other Eurasian civilizations, especially China. We examine the role of slavery and imperialism in global economic integration. We examine how the rise of modern capitalism influenced human material well-being and conflict and has led to the convergence and divergence of nations in the global economy.

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.

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.

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.

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.

This course reviews the assumption of rationality in microeconomic theory and presents evidence (primarily from experimental psychology and economics) of how judgement and decision-making systematically deviate from what rationality predicts. 

Prerequisites: Permission of the instructor and the completion of all courses (except for the senior requirement) required for the economics department majors. Exceptions to these prerequisites may be granted by the chair of the department only.  Tutorials and conferences on the research for and writing of the senior thesis. This is the 1st semester of a two-semester course sequence.

Prerequisites: Permission of the instructor and the completion of all courses (except for the senior requirement) required for the economics track, political economy track, or economics and mathematics majors. Exceptions to these prerequisites may be granted by the chair of the department only. Seminar sections are limited to 15 students. A topic in economic theory or policy of the instructors choice. See department for current topics and for senior requirement preference forms.

Prerequisites: Permission of the instructor and the completion of all courses (except for the senior requirement) required for the economics department majors.  Exceptions to these prerequisites may be granted by the chair of the department only. Seminar sections are limited to 16 students. A topic in economic theory or policy of the instructors choice. See department for current topics and for senior requirement preference forms.

Prerequisites: Permission of the instructor and the completion of all courses (except for the senior requirement) required for the economics track, political economy track, or economics and mathematics majors. Exceptions to these prerequisites may be granted by the chair of the department only. Seminar sections are limited to 15 students. A topic in economic theory or policy of the instructors choice. See department for current topics and for senior requirement preference forms.

Prerequisites: Permission of the instructor and the completion of all courses (except for the senior requirement) required for the economics track, political economy track, or economics and mathematics majors. Exceptions to these prerequisites may be granted by the chair of the department only. Seminar sections are limited to 15 students. A topic in economic theory or policy of the instructors choice. See department for current topics and for senior requirement preference forms.

Prerequisites: Permission of the instructor and the completion of all courses (except for the senior requirement) required for the economics department majors.  Exceptions to these prerequisites may be granted by the chair of the department only. Seminar sections are limited to 16 students. A topic in economic theory or policy of the instructors choice. See department for current topics and for senior requirement preference forms.

Prerequisites: ECON UN1105 and MATH UN1101 and (MATH UN1201 or MATH UN1207) The determination of the relative prices of goods and factors of production and the allocation of resources.

Prerequisites: ECON UN1105 and MATH UN1101 and (MATH UN1201 or MATH UN1207) The determination of the relative prices of goods and factors of production and the allocation of resources.

Prerequisites: ECON UN1105 and MATH UN1101 and (MATH UN1201 or MATH UN1207) The determination of the relative prices of goods and factors of production and the allocation of resources.

Prerequisites: (MATH UN1101 or MATH UN1207) and ECON UN1105 or the equivalent. Corequisites: MATH UN1201 This course covers the determination of output, employment, inflation and interest rates. Topics include economic growth, business cycles, monetary and fiscal policy, consumption and savings and national income accounting.

Prerequisites: (MATH UN1101 or MATH UN1207) and ECON UN1105 or the equivalent. Corequisites: MATH UN1201 This course covers the determination of output, employment, inflation and interest rates. Topics include economic growth, business cycles, monetary and fiscal policy, consumption and savings and national income accounting.

Discussion section for ECON UN3213 Intermediate Macro. Student must register for a section.

Prerequisites: ECON UN3211 and ECON UN3213 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.

Prerequisites: (ECON UN3211 or ECON UN3213) and (MATH UN1201 or MATH UN1207) and STAT UN1201 Modern econometric methods; the general linear statistical model and its extensions; simultaneous equations and the identification problem; time series problems; forecasting methods; extensive practice with the analysis of different types of data.

Prerequisites: (ECON UN3211 or ECON UN3213) and (MATH UN1201 or MATH UN1207) and STAT UN1201 Modern econometric methods; the general linear statistical model and its extensions; simultaneous equations and the identification problem; time series problems; forecasting methods; extensive practice with the analysis of different types of data.

Prerequisites: (ECON UN3211 or ECON UN3213) and (MATH UN1201 or MATH UN1207) and STAT UN1201 Modern econometric methods; the general linear statistical model and its extensions; simultaneous equations and the identification problem; time series problems; forecasting methods; extensive practice with the analysis of different types of data.

Required discussion section for ECON UN3412: Intro to Econometrics

Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 Topics include behavior uncertainty, expected utility hypothesis, insurance, portfolio choice, principle agent problems, screening and signaling, and information theories of financial intermediation.

Prerequisites: ECON UN3211 and ECON UN3213 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.

Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 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.

Prerequisites: ECON UN3211 and ECON UN3213 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.

How do families decide who gets educated and who goes to work? Why do some people remain unemployed even when jobs are available? How do institutions, laws, and cultural norms shape who works, where, and for how much - and what are the consequences of these decisions around the world?

ECON GU4321 explores the economic lives of people in low- and middle-income countries, with a focus on family and labor market issues. We'll examine how individuals and families make decisions about work, education, and marriage - and how these choices are shaped by social norms, market failures, and government policies.

The course tackles contemporary development challenges including women's labor force participation, discrimination in hiring and wages, the relationship between marriage markets and human capital investment, and how climate change reshapes employment opportunities. Using both theoretical and empirical tools, we'll analyze the policy implications of these issues.

The objective of this course is to develop understanding of how political institutions and behavior shape economic outcomes, and vice versa. Starting from the micro level study of political behavior, we will build up to analyze the internal workings of institutions and ultimately macro level economic and political outcomes. During the course we will cover the following topics

• Limits and potential of markets

• Public goods provision

• Voting

• Redistribution

Prerequisites: ECON UN3211 and ECON UN3213 ECON GU4400 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.

Prerequisites: ECON UN3211 and ECON UN3213 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.

Prerequisites: ECON UN3211 and ECON UN3213 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.

Prerequisites: ECON UN3211 and ECON UN3213 Within economics, the standard model of behavior is that of a perfectly rational, self interested utility maximizer with unlimited cognitive resources. In many cases, this provides a good approximation to the types of behavior that economists are interested in. However, over the past 30 years, experimental and behavioral economists have documented ways in which the standard model is not just wrong, but is wrong in ways that are important for economic outcomes. Understanding these behaviors, and their implications, is one of the most exciting areas of current economic inquiry. The aim of this course is to provide a grounding in the main areas of study within behavioral economics, including temptation and self control, fairness and reciprocity, reference dependence, bounded rationality and choice under risk and uncertainty. For each area we will study three things: 1. The evidence that indicates that the standard economic model is missing some important behavior 2. The models that have been developed to capture these behaviors 3. Applications of these models to (for example) finance, labor and development economics As well as the standard lectures, homework assignments, exams and so on, you will be asked to participate in economic experiments, the data from which will be used to illustrate some of the principals in the course. There will also be a certain small degree of classroom ‘flipping’, with a portion of many lectures given over to group problem solving. Finally, an integral part of the course will be a research proposal that you must complete by the end of the course, outlining a novel piece of research that you would be interested in doing.

Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 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.

Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412  Selected topics in microeconomics. 

Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412  Selected topics in microeconomics. 

Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412  Selected topics in microeconomics. 

Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412  Selected topics in microeconomics. 

Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412  Selected topics in microeconomics. 

Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412  Selected topics in microeconomics. 

Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412  Selected topics in microeconomics. 

This course provides an opportunity for students in the Economics Master of Arts Program to engage in off-campus internships for academic credit that will count towards their requirements for the degree. The internships will facilitate the application of economic skills that students have developed in the program and prepare them for future work in the field.

This is a required course that facilitates the capstone research paper writing process for second-year students enrolled in the M.A. Program in Economics. The research paper provides an opportunity to write a substantial piece of academic work in which the student is expected to demonstrate mastery of a field, along with the ability to think originally and to convey results clearly in writing.

This is a topics course in financial economics intended for Economics MA students. The focus of the course is on applied methods, including training with financial data, estimation methods, and identification strategies for causal analysis in finance research. Students will cover papers and gain practical experience in execution algorithms, machine learning in asset pricing, asset demand systems, financial intermediaries, trading costs, and passive investments. Prior coding and programming experience in a specific language are not strictly necessary, but basic knowledge of R or Python are helpful.

This course is a PhD-level introduction to political economy. The first part of the course is mostly theoretical and covers the most widely used models in topics such as social choice, direct and indirect democracy, accountability, lobbying, and redistributive politics. The second part of the course is a mix of abstract theory, applied theory and empirical work, and it covers some of the most research-active areas in political economy, such as media, corruption, and institutions.

This is the first course of the second year PhD econometrics sequence with emphasis on both economic applications and computationally intense methods for analysis of large and/or complex models. Students can attend the whole sequence or only one of them. While the details of the econometric techniques will be discussed extensively, the core and focus of the course is on the applications of these techniques to the study of actual data. Students will be practiced in econometric methods through computer-based exercises.

Prerequisites: Students should have a good understanding of graduate econometrics and should have taken ECON G6411 and G6412.

Prerequisites: Completion of 1st year graduate program in Economics, or the instructor's permission. The standard model of economic behavior describes a perfectly rational, self interested utility maximizer with unlimited cognitive resources. In many cases, this provides a good approximation to the types of behavior that economists are interested in. However, over the past 30 years, experimental and behavioral economists have documented ways in which the standard model is not just wrong, but is wrong in ways that are important for economic outcomes. Understanding these behaviors, and their implications, is one of the most exciting areas of current economic inquiry. This course will study three important topics within behavioral economics: Bounded rationality, temptation and self control and reference dependent preferences. It will draw on research from behavioral economics, experimental economics, decision theory, psychology and neuroscience in order to describe the models that have been developed to explain failures of the standard approach, the evidence in support of these models, and their economic implications.

Prerequisites: ECON G6411 and G6412. Students will make presentations of original research.

Prerequisites: G6215 and G6216. Open-economy macroeconomics, computational methods for dynamic equilibrium analysis, and sources of business cycles.

Prerequisites: the instructors permission. Students will make presentations of original research.

Prerequisites: G6215, G6216, G6211, G6212, G6411, G6412. Students will make presentation of original research in Microeconomics.

Prerequisites: G6215, G6216, G6211, G6212, G6411, G6412. Students will make presentations of original research in Microeconomics.

Columbia faculty and guest speakers present research related to Labor and Public Economics.