Degree Requirements

ECON 500- Summer Semester: Mandatory Math Camp for 3 weeks

1st Year – Fall Semester 1st Year – Spring Semester
ECON 501 – Mathematics for Economists ECON 504- Microeconomics I
ECON 503 – Microeconomics I ECON 508- Macroeconomics II
ECON 507 – Macroeconomics I ECON 512- Econometrics II
ECON 511 – Econometrics I Elective
KOLT 500: TA Workshops ECON 590- Seminar Course
TEACH 500: TA Assignments ETHR 500 Ethics Course
ECON 590: Seminar TEACH 500: TA Assignments
2nd Year – Fall Semester 2nd Year – Spring Semester
ECON 510- Research Methods ECON 595: MA Dissertation
Elective TEACH 500: TA Assignments
ENGL 500 : English Academic Writing ECON 590: Seminar
TEACH 500: TA Assignments
ECON 595: MA Dissertation
ECON 590: Seminar

* Either 2 of the following electives:This template is subject to change

ECON 530 – Experimental Economics
ECON 532 – Economics of Information and Contracts
ECON 580 – The Economics of Institutions
ECON 505 – Topics in Microeconomics
ECON 509 – Topics in Macroeconomics
ECON 513 – Topics in Econometrics
ECON 550 – Topics in Economics

In addition, students must enroll in ECON 591 Seminar in Economics in Fall, ECON 592 Seminar in Economics in Spring, and ECON 595 MA Thesis in Spring. These are non-credit courses.

Students who have teaching assignments are required to take the TEAC 500 course.  

Course Descriptions

ECON 500-Mathematical Foundations (non-credit, pre-fall Term 1st Year)
To facilitate a swift transition from undergraduate to graduate training, the mathematical foundation that all students should have before starting the MA courses is reviewed in a four-week long intensive Math Camp.  Classes meet three days a week and there is an evaluation at the end of each week. Topics include:  mathematical statements and proofs; functions; sequences and limits; continuity; differentiation; metric spaces; integration.

ECON 501 Mathematics for Economists
Covers selected topics in mathematics that are frequently used in the economic theory and its applications. Topics include: introduction to optimization theory (existence of a solution, alternative characterization of compactness, Weirestrass Theorem, convexity); convex sets, concave and quasi-concave functions; characterization of a solution, Lagrange and Kuhn-Tucker approaches; parametric continuity, correspondences and maximum theorem; parametric monotonicity, lattices, supermodularity; fixed point theorems.

ECON 503 Microeconomics I
Consumer theory; production theory; general equilibrium and welfare.

ECON 504 Microeconomics II
Choice under uncertainty; game theory; mechanism design; principal-agent models.

ECON 507 Macroeconomics I
Long-term economic growth; overlapping generations models; consumption, saving, and investment; real interest rates and asset prices; money and inflation.

ECON 508 Macroeconomics II
Classical and Keynesian theories of cyclical fluctuations; real business cycle theory; determination of employment and real wages; credit markets and financial stability; stabilization policy.

ECON 509 Topics in Macroeconomics
Focus is on applications that address macroeconomic problems. Topics will be announced before the semester.

ECON 510 Research Methods

Comprehensive overview of research methodology and ethical norms underlying the production and dissemination of original research in economics. Formulation of the research question, understanding the use of different types of tools in answering the question, and presenting the findings in a carefully crafted scientific book or article.  Analysis of important methodological issues confronting researchers in economics, such as the efficacy of economic models in capturing important real-life phenomena, the problem of identifying causality or making appropriate statistical inferences from available data.

ECON 511 Econometrics I
Review of probability and statistics: random variables, univariate and joint probability distributions, expectations; bivariate normal; sampling distributions; introduction to asymptotic theory; estimation; inference. Linear regression: conditional expectation function; multiple regression; classical regression model, inference and applications.

ECON 512 Econometrics II
Departures from the standard assumptions: specification tests; a first look at time series; generalized regression; nonlinear regression; simultaneous equations, identification, instrumental variables. Extensions and applications: ML, GMM, VAR, GARCH, panel data.

ECON 513 Topics in Econometrics
Focus is on econometric applications which address both micro- or macroeconomic problems. Students will acquire proficiency with standard econometric software. Topics will be announced before the semester.

ECON 532 – Economics of Information and Contracts
This course analyzes problems created by informational asymmetries between agents and how properly designed contracts could ameliorate those problems. Topics covered will include adverse selection, screening, signaling, and moral hazard, as well as various applications to insurance, labor, and credit markets; auctions; and corporate finance.

ECON 530 – Experimental Economics
This course aims to introduce students to the use of experiments in analyzing economic behavior. The course will teach the fundamentals of designing a good economic experiment, and discuss economic theories and issues through the lens of laboratory and field experiments. Topics will include decision-making under risk and uncertainty, market experiments, bargaining and fairness, incentive schemes, public goods experiments, gender and decision-making.

ECON 550 Topics in Economics
Focus is on applications which build on a broad foundation, requiring elements of both micro- and macroeconomics. Topics will be announced before the semester.

ECON 580 – The Economics of Institutions
This course will examine the role played by institutions and political economy
considerations in determining overall economic performance. The course aims to describe the role and evolution of institutions in economic growth, to understand basic models of politics, and to provide an introduction to the dynamic effects of fiscal and monetary policy. By the end of the course, students should be able to understand the role of institutional failure, models of governance and mis-governance, optimal fiscal policy, and the concepts of reputation, credibility, and time inconsistency

ECON 591-2 Seminar in Economics (non credit)
Participation in weekly seminar is required.

ENGL 500 Graduate Writing (3 credits)
This is a writing course specifically designed to improve academic writing skills as well as critical reading and thinking. The course objectives will be met through extensive reading, writing and discussion both in and out of class. Student performance will be assessed and graded by Satisfactory/Unsatisfactory

ECON 595 MA Thesis (non credit)
Supervised individual research.

TEAC 500 (3 credits)
Teaching Experience

Provides graduate students with hands-on teaching experience in undergraduate courses. Reinforces students’ understanding of basic pedagogy and affords an opportunity to share their knowledge of the subject matter in a classroom environment.