*Economics 970. Tutorial — Sophomore Year
Catalog Number: 7923 Enrollment: Limited to concentrators.
Jeffrey Wolcowitz
Half course (spring term). First Meeting: W., Feb 1, 2–3:30 pm, Emerson Hall 105.
A series of small seminars focusing on applications of economic theory to real problems.
Note: One term required of all Economics concentrators.
Prerequisite: Both terms of Social Analysis 10; Statistics 100; Economics 1010a or 1011a; and current enrollment in Economics 1010b or 1011b.
*Economics 980. Tutorial — Junior Year
Catalog Number: 3281
Benjamin M. Friedman
Half course (fall term). Tu., Th., 1–2:30.
A thorough review of intermediate microeconomics and macroeconomics.
Note: Required of and limited to concentrators who received below a B-/C+ average in the Economics 1010/1011 sequence.
*Economics 985c. Research in Labor Economics
Catalog Number: 5409
Caroline M. Hoxby
Full course. Tu., 4–6.
Senior thesis research seminar in labor economics and related topics. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.
*Economics 985d. Research in Economic Development
Catalog Number: 4989
Doireann M. Fitzgerald (University of California, Santa Cruz)
Full course. M., 4–6. EXAM GROUP: 9
Workshop for seniors writing theses in the areas of economic history and economic development. Emphasis on choice of research topics, primary sources, data sources, and research methods. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.
*Economics 985e. Research in Macroeconomics
Catalog Number: 3740
Christopher L. Foote
Full course. Tu., 4–6. EXAM GROUP: 18
Provides intellectual support and constructive criticism for students involved in research in the fields of monetary and fiscal policy, business cycles, and economic growth. Initial meetings focus on finalizing research topics, data sources, and research methods. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.
*Economics 985f. Research in International Trade and Finance
Catalog Number: 7157
Richard N. Cooper
Full course. M., 3–5:30. EXAM GROUP: 8, 9
Workshop for seniors writing theses in international trade and finance. Emphasis on choice of research topics, methodology, and international economic theory. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.
*Economics 985h. Research in Financial Markets
Catalog Number: 0350
Efraim Benmelech
Full course. Th., 4–6. EXAM GROUP: 18
Workshop for seniors writing theses in finance. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honor thesis are required. Topics include asset pricing and corporate finance.
*Economics 985i. Research in Health and Population
Catalog Number: 3099
David Canning (Public Health)
Full course. Tu., 4:30–6:30. EXAM GROUP: 18
Senior thesis research seminar in health and population economics and related topics. Emphasis on choice of research topics, methodology, and data sources. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required.
*Economics 985k. Research in Public Economics
Catalog Number: 0871
Jeffrey A. Miron
Full course. M., 2–4. EXAM GROUP: 7, 8
Research seminar for seniors writing theses in public economics. Written and oral presentations of work in progress leading toward completion of a major research paper or senior honors thesis are required. Topics have included taxation, health economics, environmental and resource economics, and education.
*Economics 990. Tutorial — Senior Year
Catalog Number: 7342
Benjamin M. Friedman and members of the Department
Full course. Hours to be arranged.
Note: Students who are writing a senior thesis out of sequence (i.e., beginning in the spring) must enroll in Economics 990 in the spring and complete the course in the fall. Students must write a 25-page paper at the end of the first term of Economics 990. Students currently enrolled in Economics 985 may not enroll in Economics 990.
Economics 1010b. Macroeconomic Theory
Catalog Number: 2924
Nicola C. Fuchs-Schündeln
Half course (spring term). Tu., Th., 10–11:30 and a weekly section to be arranged. EXAM GROUP: 12, 13
Theories and evidence on economic growth and fluctuations. Determination of gross domestic product, investment, consumption, employment, and unemployment. Analysis of interest rates, wage rates, and inflation. Roles of fiscal and monetary policies. Extensions to the international economy.
Note: Economics 1010b fulfills the intermediate macroeconomic theory requirement for economics concentrators. Students may take either Economics 1010b or Economics 1011b for credit. This course, when taken for a letter grade, meets the Core area requirement for Social Analysis.
Prerequisite: Social Analysis 10. While no specific mathematics course is required, knowledge of calculus at the level of Mathematics 1a is assumed.
Economics 1011a. Microeconomic Theory
Catalog Number: 7230
Edward L. Glaeser
Half course (fall term). Tu., Th., 11:30–1. EXAM GROUP: 13, 14
Economics 1011a is similar to Economics 1010a, but uses more mathematics and covers more material. The course aims to teach the basic tools of economics and to apply them to a wide range of human behavior. Tools include consumer theory, optimization under uncertainty, game theory, welfare economics, incentive theory, and the economics of information. Topics include industrial organization, public finance, law and economics, the economics of the family, religion, and riots.
Note: Economics 1011a fulfills the intermediate microeconomic theory requirement for economics concentrators. Students may take either Economics 1010a or Economics 1011a for credit. This course, when taken for a letter grade, meets the Core area requirement for Social Analysis.
Prerequisite: Mathematics 21a or permission of the instructor.
Economics 1011b. Macroeconomic Theory
Catalog Number: 6993
Philippe Aghion and Aleh Tsyvinski
Half course (spring term). Tu., Th., 10-11:30, and a one-hour weekly section to be arranged. EXAM GROUP: 12, 13
The same topics as in 1010b, but with a more mathematical approach.
Note: Economics 1011b fulfills the intermediate macroeconomic theory requirement for economics concentrators. Students may take either Economics 1010b or Economics 1011b for credit. This course, when taken for a letter grade, meets the Core area requirement for Social Analysis.
Prerequisite: Social Analysis 10. While no specific mathematics course is required, Mathematics 20 or 21 is recommended.
Economics 1017. A Libertarian Perspective on Economics and Social Policy
Catalog Number: 1197
Jeffrey A. Miron
Half course (fall term). Tu., Th., 11:30–1 and a section to be arranged. EXAM GROUP: 13, 14
Analyses the libertarian perspective on economic and social policy. This perspective differs from both liberal and conservative views, arguing for minimal government in most arenas. Specific policies addressed include drug prohibition, gun control, public education, abortion rights, gay marriage, income redistribution, and campaign finance regulation.
Prerequisite: Social Analysis 10.
Economics 1025. Theory of Capital and Income
Catalog Number: 0121
Martin L. Weitzman
Half course (fall term). M., W., 1–2:30 and a section on Friday 1-2:30. EXAM GROUP: 6, 7
Mathematically advanced. Applies the maximum principle of optimal control theory to analyze a wide variety of dynamic economic models. Emphasizes basic principles and fundamental unity of all problems involving capital, investment, and time—including harvesting of renewable resources, extraction of non-renewable resources, analysis of dynamic environmental externalities, optimal growth, equilibrium of competitive stock markets, and the economic theory of the connection between income, accounting, sustainability, and share valuation.
Prerequisite: Economics 1011a and Mathematics 20.
[Economics 1030. Psychology and Economics]
Catalog Number: 4709 Enrollment: Limited to 80.
David I. Laibson and Andrei Shleifer
Half course (spring term). Hours to be arranged.
Integrates psychological and economic analysis of behavior. Psychological topics include social preferences, impulsivity, bounded rationality, loss-aversion, over-confidence, self-serving biases, hedonics, and neuroscience. Discusses how psychological experiments have been used to learn about preferences, cognition, behavior. Economic topics include arbitrage, equilibrium, rational choice, utility maximization, Bayesian beliefs, game theory. Integrates these psychological and economic concepts to understand behavioral phenomena such as credit card borrowing, portfolio choice, retirement saving, procrastination, addiction, asset pricing, auction bidding, labor supply, cooperation.
Note: Expected to be given in 2006–07.
Prerequisite: Economics 1010a or 1011a, and knowledge of multivariate calculus.
Economics 1035. Policy Applications of Psychology and Economics
Catalog Number: 1687 Enrollment: Limited to 80.
Sendhil Mullainathan
Half course (fall term). M., W., 2:30–4. EXAM GROUP: 7, 8
Integrates psychological with economic approaches to traditional public policy issues. International applications include public health, epidemics such as AIDS, fertility, education and psychological impacts of poverty. Domestic applications include discrimination and affirmative action, drugs, crime and unemployment.
Prerequisite: Economics 1010a or 1011a.
Economics 1051. Game Theory in Economics
Catalog Number: 3692
Attila Ambrus
Half course (spring term). Tu., Th., 10–11:30. EXAM GROUP: 12, 13
The course will provide participants with an introduction to the modern game theory, focusing on its use in economics. Main ideas of game theory are introduced and illustrated using examples from industrial organization, labor economics, and macroeconomics.
Prerequisite: Economics 1010a or 1011a
Economics 1052. Introduction to Game Theory
Catalog Number: 2634
Markus M. Möbius
Half course (spring term). Tu., Th., 10–11:30, and a one-hour weekly section to be arranged. EXAM GROUP: 12, 13
An introduction to game theory and its applications to economics at a high level of rigor. Topics include extensive form and strategic form games, Nash equilibrium and Nash’s existence theorem, subgame-perfect equilibrium, Bayesian equilibrium, and applications to repeated games, auctions, and bargaining.
Prerequisite: Economics 1011a and Mathematics 21a, or equivalent.
*Economics 2010a. Economic Theory
Catalog Number: 8656
Edward L. Glaeser and Drew Fudenberg
Half course (fall term). Tu., Th., 10–11:30, and a 1.5-hour weekly section to be arranged. EXAM GROUP: 12, 13
Covers the theory of individual and group behavior. Topics include consumer theory, producer theory, behavior under uncertainty, externalities, monopolistic distortions, game theory, oligopolistic behavior, and asymmetric information.
Note: Enrollment is limited to students in the economics and business economics PhD programs.
Prerequisite: Mathematics 116 or equivalent; can be taken concurrently.
Economics 2010b. Economic Theory
Catalog Number: 8659
Jerry R. Green and Oliver S. Hart
Half course (spring term). Tu., Th., 10–11:30, and a 1.5-hour weekly section to be arranged. EXAM GROUP: 12, 13
Topics include general equilibrium, the core, externalities and public goods, moral hazard, social choice theory, signaling, and mechanism design.
Prerequisite: Economics 2010a.
Economics 2010c (formerly Economics 2010d). Economic Theory
Catalog Number: 4431
Robert J. Barro and David I. Laibson
Half course (fall term). Tu., Th., 1–2:30, and a 1.5-hour weekly section to be arranged. EXAM GROUP: 15, 16
Topics include discrete-time and continuous-time dynamic programming, consumption, investment, economic growth, and business cycles.
Note: Enrollment is strictly limited to PhD students in the Economics Department, Business Economics program, and PEG program. Qualified Harvard undergraduates may also enroll. No other students may take the course for credit or as auditors.
Economics 2010d (formerly Economics 2010c). Economic Theory
Catalog Number: 2041
Alberto F. Alesina, Manuel Amador, and Benjamin M. Friedman
Half course (spring term). M., W., 8:30–10. EXAM GROUP: 1, 2
A basic course in graduate macroeconomics, including models of business fluctuations, theories of consumption, investment and money demand, analyses of monetary and fiscal policy, and introduction to open economy macroeconomic issues.
Note: Enrollment is strictly limited to PhD students in the Economics Department, Business Economics program, and PEG program. Qualified Harvard undergraduates may also enroll. No other students may take the course for credit or as auditors.
Prerequisite: Mathematics 116 or the equivalent; can be taken concurrently.
*Economics 2020a. Microeconomic Theory I
Catalog Number: 0339 Enrollment: Limited to 102.
Jerry R. Green, Nolan H. Miller (Kennedy School), and Peter Speigler
Half course (fall term). M., W., 8:30–10, and a one-hour weekly section to be arranged. EXAM GROUP: 1, 2
A comprehensive course in economic theory designed for doctoral students in all parts of the university. Consumption, production, uncertainty, markets, general equilibrium. Applications to policy analysis and business decisions. Emphasizes the use of economic theory in practical research.
Note: Offered jointly with the Kennedy School as API-111 and the Business School as 4010. First Meeting: Monday, September 19 in Littauer 140, KSG.
Prerequisite: Two years of calculus and one course in probability theory. Thorough background in microeconomic theory at the intermediate level. Undergraduates with the appropriate background are welcome.
*Economics 2020b. Microeconomic Theory II
Catalog Number: 4058
Jerry R. Green and Christopher N. Avery (Kennedy School)
Half course (spring term). M., W., 8:30–10, and a one-hour weekly section to be arranged. EXAM GROUP: 1, 2
A continuation of Economics 2020a. Topics include game theory, economics of information, incentive theory, and welfare economics.
Note: Offered jointly with the Kennedy School as API-112 and the Business School as 4011.
Prerequisite: Economics 2010a or 2020a.
[Economics 2030. Psychology and Economics]
Catalog Number: 3828
Sendhil Mullainathan
Half course (fall term). Hours to be arranged.
Explores economic and psychological models of human behavior. Theoretical topics include bounded rationality, intertemporal choice, decision making under uncertainty, inference, choice heuristics, and social preferences. Economic applications include asset pricing, corporate finance, macroeconomics, labor, development, and industrial organization.
Note: Expected to be given in 2006–07.
Prerequisite: Primarily for graduate students but open to undergraduates. Knowledge of multivariable calculus and econometrics.
[Economics 2035. Dynamic Programming]
Catalog Number: 1851
David I. Laibson
Half course (spring term). Hours to be arranged.
Covers dynamic programming, including both discrete and continuous-time methods. Considers applications to search, investment, option valuation, consumption, and finance. Discusses computational methods for generating numerical solutions.
Note: Expected to be given in 2006–07.
Economics 2040. Experimental Economics
Catalog Number: 8485 Enrollment: Limited to 48.
Alvin E. Roth (FAS, Business School)
Half course (fall term). F., 9–12. EXAM GROUP: 2, 3, 4
An introduction to experimental economics, and some of the major subject areas that have been addressed by laboratory experiments. We concentrate on series of experiments, to see how experiments build on one another.
Note: Offered jointly with the Business School as 4160.
Economics 2052. Game Theory I: Equilibrium Theory
Catalog Number: 3690
Drew Fudenberg
Half course (spring term). M., 4–7 pm. EXAM GROUP: 9
Equilibrium analysis and its applications. Topics vary, but typically include equilibrium refinements (sequential equilibrium), the equilibria of various classes of games (repeated games, auctions, signaling games) and the definition and application of common knowledge.
Prerequisite: Economics 2010a or permission of the instructor.
Economics 2053. Game Theory II: Topics in Game Theory
Catalog Number: 1898
Attila Ambrus
Half course (fall term). W., 5:30–8:30 pm. EXAM GROUP: 9
Aimed at students planning to do research in game theory. Topics vary from year to year; examples include evolutionary game theory, models of learning and imitation, epistemological models, coalitional agreements, and the foundations of games of incomplete information.
[Economics 2054. Social Choice and Welfare Economics]
Catalog Number: 1118
Amartya Sen
Half course (fall term). Hours to be arranged.
A basic course in social choice theory and its philosophical foundations. An examination of “impossibility” results, collective rationality, domain restrictions, interpersonal comparability, and the role of rights and liberties.
Note: Expected to be given in 2006–07.
Economics 2056. Market Design
Catalog Number: 3634
Alvin E. Roth (FAS, Business School)
Half course (spring term). F., 9–12. EXAM GROUP: 2, 3, 4
Deals with the theory and practice of market design, with prominent examples drawn from auctions and labor markets.
Note: Offered jointly with the Business School as 4150.
Economics 2057. Rational Choice
Catalog Number: 3755
Amartya Sen and Christine M. Jolls (Law School)
Half course (fall term). M., 1–3. EXAM GROUP: 6, 7
Rationality is a central idea in economics, law, politics and moral and political philosophy. This course will provide a critical examination of the different ways of characterizing rationality and its requirements.
Note: Open to graduate students in Economics, Philosophy, Government and Law. Offered jointly with the Law School as 45510-11.
Economics 2058. Networks and Social Capital
Catalog Number: 2872
Markus M. Möbius
Half course (spring term). Tu., 4–7 p.m. EXAM GROUP: 18
Provides a rigorous theoretical introduction into network models. Discusses the emerging empirical literature on economic and social networks. Topics include the role of networks in technological progress, buyer-supplier networks, and social capital.
Economics 2059. Decision Theory
Catalog Number: 3825
Andrea Wilson
Half course (spring term). M., W., 1–2:30. EXAM GROUP: 6, 7
First half focuses on classical models of choice theory, formalizing the notion of rationality and exploring its behavioral implications. The second half focuses on recent research, incorporating insights from psychology and allowing for boundedly-rational agents.
Economics 2060. Contract Theory
Catalog Number: 1404
Philippe Aghion
Half course (fall term). M., W., 4–5:30. EXAM GROUP: 9
Recent developments in contract theory. Includes hidden action and hidden information models, dynamic agency issues, incomplete contracts, and applications of contract theory to theories of the firm and corporate financial structure.
Economics 2080. Economics and Politics: The Foundations of Economics in Political Theory
Catalog Number: 6576
Benjamin M. Friedman and Richard Tuck
Half course (fall term). W., 2–4. EXAM GROUP: 7, 8
Offers graduate students in relevant disciplines the chance to study the historical origins of central ideas in modern economics and to discuss their philosophical character.
Prerequisite: A basic knowledge of economics is assumed.
Economics 2086. The Theory Workshop
Catalog Number: 6378
Jerry R. Green and members of the Department
Half course (fall term; repeated spring term). Th., 4–6. EXAM GROUP: 18
Economics 1126. Quantitative Methods in Economics
Catalog Number: 4076
Gary Chamberlain
Half course (spring term). Tu., Th., 11:30–1 and a weekly section to be arranged. EXAM GROUP: 13, 14
Topics include elements of statistical decision theory and related experimental evidence; some game theory and related experimental evidence; maximum likelihood; logit, normal, probit, and ordered probit regression models; panel data models with random effects; omitted variable bias and random assignment; incidental parameters and conditional likelihood; demand and supply.
Note: Economics 1123 may not be taken for credit if taken after Economics 1126, but credit will be given for both courses if Economics 1123 is taken first.
Prerequisite: Statistics 100 or preferably 110; Mathematics 20.
Economics 2120. Introduction to Applied Econometrics
Catalog Number: 2352
Dale W. Jorgenson
Half course (spring term). Tu., Th., 2:30–4 and a weekly section to be arranged. EXAM GROUP: 16, 17
Introduction to methods employed in applied econometrics, including linear regression, instrumental variables, panel data techniques, generalized method of moments, and maximum likelihood. Includes detailed discussion of papers in applied econometrics and computer exercises using standard econometric packages.
Note: Enrollment limited to PhD candidates in economics, business economics, health policy, public policy, and political economy and government (PEG).
Prerequisite: Economics 2110 or equivalent.
[Economics 2130 (formerly Economics 2131). Applied Econometrics]
Catalog Number: 2211
Dale W. Jorgenson
Half course (fall term). Hours to be arranged.
Advanced methods in applied econometrics, including nonlinear regression, discrete and limited dependent variables, models of selection, and stationary and non-stationary time series. Includes detailed discussion of empirical applications.
Note: Expected to be given in 2006–07. Students complete a short research project in applied econometrics.
Prerequisite: Economics 2120 or equivalent.
Economics 2140. Econometric Methods
Catalog Number: 7210
Gary Chamberlain
Half course (fall term). Tu., Th., 11:30–1, and a one-hour weekly section to be arranged. EXAM GROUP: 13, 14
Statistical decision theory with applications to portfolio choice, panel data topics, selection bias, demand and supply, qualitative choice, and quantile regression.
Prerequisite: Economics 2120 or equivalent.
[Economics 2141. Advanced Topics in Microeconometrics]
Catalog Number: 9305
Marcelo J. Moreira
Half course (spring term). Hours to be arranged.
Topics include first-order asymptotics and GMM, second-order asymptotics, bias correction, bootstrap, censoring, panel data models with fixed effects, simultaneous equations model, weak instruments, and average treatment effects.
Note: Expected to be given in 2006–07.
[Economics 2142. Time Series Analysis]
Catalog Number: 4414
James H. Stock
Half course (fall term). Hours to be arranged.
A survey of modern time series econometrics. Topics include univariate models, vector autoregressions, linear and nonlinear filtering, frequency domain methods, unit roots, structural breaks, empirical process theory asymptotics, forecasting, and applications to macroeconomics and finance.
Note: Expected to be given in 2006–07.
[Economics 2144. Advanced Applied Econometrics]
Catalog Number: 7686
Ariel Pakes
Half course (spring term). Hours to be arranged.
An introduction to the theory and application of recently developed econometric techniques
used in advanced applied work. Simulation techniques, estimation subject to inequality restrictions, as well as semiparametric and nonparametric tools will be studied in a variety of empirical contexts.
Note: Expected to be given in 2006–07.
Economics 2146. Topics in Financial Econometrics
Catalog Number: 8715
Rustam Ibragimov
Half course (spring term). F., 2–5. EXAM GROUP: 7, 8, 9
A discussion of modern topics in financial econometrics. Topics include testing for return predictability, inference in consumption-based asset pricing models, and estimation of continuous time models. Includes discussion of empirical applications.
Prerequisite: Economics 2120 or equivalent.
Economics 2149. Computational Economics
Catalog Number: 7236
Ulrich Doraszelski
Half course (fall term). M., W., 4–5:30. EXAM GROUP: 9
Graduate introduction to computational approaches for solving economic models. We will formulate economic problems in computationally tractable form and use techniques from numerical analysis to solve them. We will study examples of computational techniques in the current economics literature.
Economics 2162. The Econometrics Workshop
Catalog Number: 2372
James H. Stock and members of the Department
Full course. Th., 4:30–6. EXAM GROUP: 18
Current research topics in theory and applications of econometrics.
Economics 1320. The Latin American Economy
Catalog Number: 2454
Beatriz Armendariz
Half course (spring term). Tu., Th., 11:30–1, and a one-hour weekly section to be arranged. EXAM GROUP: 13, 14
Economic analysis of historical episodes that have shaped recent development strategies in the region. Focuses on the determinants of growth and income inequality, volatile financial markets, and rapid urbanization. Analyzes country-specific experiences to evaluate stabilization, trade, regulation, poverty alleviation, and environmental policies.
Prerequisite: Economics 1010a or 1011a. Prior knowledge of economic development and international finance would be an advantage.
[Economics 1330. One Way or Many]
Catalog Number: 7955
Richard B. Freeman and Roberto Mangabeira Unger (Law School)
Half course (spring term). Hours to be arranged.
Is the world gradually converging toward the same set of economic practices and institutions, following the lead of the North Atlantic industrial democracies? Or can democratic market economies take institutional forms radically different from those now established in the US and Western Europe? International financial instability has lent new urgency to the controversy over alternatives. The course considers these themes by exploring their variations in major post-communist or developing societies, as well as in North Atlantic countries.
Note: Expected to be given in 2006–07. Offered jointly with the Kennedy School as PED-259 and the Law School as 44160-31. Meets at the Law School.
Prerequisite: Social Analysis 10.
Economics 1335. Private Enterprise in the Developing World
Catalog Number: 3697
Raymond J. Fisman (Columbia University Business School)
Half course (fall term). Tu., Th., 8:30–10. EXAM GROUP: 10, 11
This course provides a framework for studying the role of business in economic development. The first half focuses on the non-market constraints on private sector development that loom particularly large in the developing world. Topics include rule of law (contract enforcement, intellectual property rights, investor protection), corruption, and political instability. The latter half examines the role of international institutions such as the WTO and IMF, and international capital flows, in promoting private sector development.
Prerequisite: Social Analysis 10 required. Some facility with data/statistics useful. Very basic knowledge of game theory helpful.
Economics 1340. Globalization and History
Catalog Number: 4025 Enrollment: Limited to 80.
Jeffrey G. Williamson
Half course (fall term). M., W., 1–2:30 and a weekly section to be arranged. EXAM GROUP: 6, 7
Globalization after 1492: first globalization boom 1800-1914, autarkic retreat 1914-1950, second globalization boom since 1950. Uses history to explore sources and impact of world market integration, emerging global capital markets, and mass migrations. Does going global foster growth? Who gains and who loses? Why doesn’t more capital flow to poor countries? Why don’t more poor people migrate? Who votes for protection? Who votes for migration restriction?
Note: Concentrators may not take pass/fail.
Prerequisite: Social Analysis 10 or permission of the instructor.
[*Economics 1357. Historical Perspectives on American Economic Ascendancy]
Catalog Number: 7554 Enrollment: Limited to 60.
Claudia Goldin
Half course (spring term). Hours to be arranged.
Concerns America’s economic ascendancy ever since c.1790. Addresses whether the US lost economic leadership post-WWII or others converged on it. Explores how the US achieved economic supremacy, including natural resources, legal institutions, labor, education, and invention. Confronts domestic issues accompanying economic growth such as inequality, regional divisions, slavery, big business, and economic vicissitudes such as the Great Depression, and evaluates solutions such as big government. Readings include novels.
Note: Expected to be given in 2006–07. Concentrators may not take pass/fail. A research paper is required.
Prerequisite: Social Analysis 10 or permission of the instructor.
[Economics 1375. Gender Issues in Economic Development]
Catalog Number: 7348
Erica M. Field
Half course (spring term). Hours to be arranged.
Examines a range of economic issues related to gender in developing countries, with a focus on empirical methods and applied theory. We will analyze regional trends in women’s education, labor force participation, wealth and political representation, and examine their theoretical and empirical relationship to economic growth and development. Specific topics include intra-household resource allocation; marriage markets and family structure; public policy and gender equity; and the implication of biological and psychological gender theories for economic behavior.
Note: Expected to be given in 2006–07.
Prerequisite: Economics 1010/1011
[Economics 1385. Introduction to Global Health and Population]
Catalog Number: 6193
David Bloom (Public Health)
Half course (spring term). Hours to be arranged.
Studies global health and population data in historical and comparative perspective. Discusses alternative frameworks and perspectives for understanding determinants and consequences of global disparities in health and population, and the place of health and population in the realm of international development. Covers approaches to the design, implementation, and evaluation of polices and programs to address health and population problems, including medical interventions, non-medical health interventions, and non-health interventions.
Note: Expected to be given in 2006–07. A research paper is required.
*Economics 1386. Health, Education, and Development
Catalog Number: 6436 Enrollment: Limited to 20.
Erica M. Field
Half course (spring term). Tu., Th., 10–11:30. EXAM GROUP: 12, 13
Advanced course addresses health and education issues in developing countries from the standpoint of economics, with a focus on modeling techniques and econometric methods. General topics include demographic transition, household models of production, and the role of health and educational inputs. Specific topics include: the return to education in developing countries, structural problems in delivery, education finance, health inequality, technology adoption and behavior, AIDS, and the impact of disease.
Note: A research paper is required. Concentrators may not take pass/fail.
Prerequisite: Economics 1010a (or 1011a) and 1123 (or 1126).
Economics 1393. Poverty and Development
Catalog Number: 6516
Beatriz Armendariz
Half course (spring term). M., W., 1–2:30 and a one-hour weekly section to be arranged. EXAM GROUP: 6, 7
Studies the relationship between economic growth, poverty, and income distribution. Discusses how globalization affects poverty and inequality. Studies the main theories of economic growth and the main potential sources of economic development, from physical capital accumulation, to education, to technology, to the role of government. Discusses various global issues such as public global health (e.g., the impact of malaria and AIDS on Africa), corruption and institutions, natural resources, the environment, international donor institutions, and population growth.
Prerequisite: Economics 1010a (or 1011a) and 1010b (or 1011b).
Economics 2326. Selected Topics in Macroeconomic and Financial History
Catalog Number: 3864
Michael Bordo (Rutgers University)
Half course (spring term). Tu., Th., 11:30–1. EXAM GROUP: 13, 14
Topics in macroeconomic history emphasizing the international monetary and financial system from medieval money to early central bank and monetary policy; interwar instability and the gold exchange standard; the Great Depression; Bretton Woods; financial globalization; and financial crises.
Note: Course requirements: a major research paper; class presentations, and a take home final examination.
Economics 2327. Economic Development: Theory, Policy, and Evidence
Catalog Number: 8092
Dani Rodrik (Kennedy School) and Mark R. Rosenzweig (Kennedy School)
Half course (fall term). Tu., 8:15–11:30, and a review section F., 1–2:30 or 2:30–4. EXAM GROUP: 10, 11, 12, 13
Provides a graduate-level overview of the theory of and evidence on economic development from a policy-oriented perspective. Aim is to allow students to analyze policy debates surrounding development from a broad and rigorous analytical base.
Note: Offered jointly with the Kennedy School as PED-101. First meeting: Tuesday, September 13 in Belfer, Starr Auditorium, KSG.
[Economics 2330. The Development of the American Economy]
Catalog Number: 0123
Claudia Goldin
Half course (spring term). Hours to be arranged.
Covers topics in American economic history with an emphasis on the causes and consequences of economic growth from c. 1790. Explores the historical roots of current economic issues, such as productivity, technological change, inequality, female labor force, race, immigration, education, big government, and macroeconomic fluctuations.
Note: Expected to be given in 2006–07. Satisfies the graduate distribution requirement.
[Economics 2333. Historical Perspectives on Current Economic Issues]
Catalog Number: 6800
Claudia Goldin
Half course (fall term). Hours to be arranged.
Comparative economic history emphasizing the sources of economic growth. Subjects include labor systems, population change, migration, technology, industrialization, market integration, education, government, inequality, and the Great Depression. Each topic is motivated by a current concern.
Note: Expected to be given in 2006–07. Satisfies the graduate distribution requirement.
Economics 2335. The Industrial Sector in Developing Countries
Catalog Number: 3876
Matthias Schündeln
Half course (spring term). M., W., 10–11:30. EXAM GROUP: 3, 4
Microeconomics of industrial sector development, focusing on the specific institutional environment of developing countries. Topics include role of financial markets, labor markets, and new technologies in explaining individual firm behavior, productivity, market structure, industry dynamics.
*Economics 2339. The Economic History Workshop
Catalog Number: 8183
Jeffrey G. Williamson, Michael Bordo (Rutgers University) (spring term), John H. Coatsworth, and James Robinson
Full course. F., 2–4. EXAM GROUP: 7, 8
Intended for students writing dissertations related to economic history themes and/or methodology and for others with interests in economic history. Discusses research papers presented by scholars at Harvard and elsewhere.
Economics 2350. Workshop in Religion, Political Economy, and Society
Catalog Number: 0815
Robert J. Barro and members of the Department
Half course (fall term; repeated spring term). W., 12:30–2. First Meeting: Wed., Feb 8. EXAM GROUP: 5, 6
Topics on the interplay between religion and the social sciences.
Economics 2390b. Development Economics I: Microeconomic Issues
Catalog Number: 2990
Sendhil Mullainathan
Half course (fall term). M., W., 6–7:30 pm. EXAM GROUP: 9
Topics include agricultural issues such as peasant behavior, land tenancy, interlinked markets; credit and insurance market problems and institutions; health, nutrition, and productivity; gender bias; education; and technology adoption.
Note: First Meeting: Wednesday, September 21 in Littauer M16.
Economics 2390c. Development Economics II: Growth
Catalog Number: 0388
Philippe Aghion
Half course (spring term). M., W., 4–5:30. EXAM GROUP: 9
Topics include innovation-based growth, innovations and capital accumulation, scale effects and convergence, exhaustible resources, learning-by-doing, growth and market structure, general purpose technologies, dynamics of wage inequality, and technical change and institutional change.
Economics 2390d. The Economic Growth and Development Workshop
Catalog Number: 1926
Sendhil Mullainathan and members of the Department
Full course. Fall: Tu., 2:30–4; Spring: W., 2:30–4. EXAM GROUP: Fall: 16, 17; Spring: 7, 8
Fall speakers cover issues in growth and development. Spring speakers alternate between “growth and institutions,” focusing on the macro aspects of growth and development, and “labor and development,” focusing on the micro aspects.
Economics 2390e. Topics in Development Economics
Catalog Number: 8744
Sendhil Mullainathan and Erica M. Field
Half course (spring term). Tu., 8–10. EXAM GROUP: 10, 11
An introduction to aspects of performing field work in development economics. Topics will vary. This course prepares students for field work through background readings, help in choice of field site, and teaching of empirical tools.
Note: Students are expected to spend the summer doing field work and writing a major research paper.
Economics 1420. American Economic Policy
Catalog Number: 8110
Martin Feldstein and Jeffrey B. Liebman (Kennedy School)
Half course (spring term). M., W., F., at 10, and a one-hour weekly section to be arranged. EXAM GROUP: 3
Analyzes major issues in American economic policy including taxation, Social Security, welfare reform, budget policy, monetary and fiscal policy, and exchange rate management. Current economic issues and policy options discussed in detail and in the context of current academic thinking.
Note: Offered jointly with the Kennedy School as API-126.
Prerequisite: Economics 1010a or 1011a, or permission of instructor.
[Economics 1430. Macroeconomics and Politics]
Catalog Number: 5549
Robert J. Barro
Half course (spring term). Hours to be arranged.
Topics include the political economy of economic growth, including the roles of democracy and legal institutions; inflation, monetary policy, and fiscal policy; interplay between religion and political economy; and analyses of economic and monetary unions.
Note: Expected to be given in 2006–07.
Prerequisite: Economics 1010b or 1011b, or permission of the instructor.
Economics 1471. Economics of Crime
Catalog Number: 6848 Enrollment: Limited to 80.
Jeffrey A. Miron
Half course (spring term). Tu., Th., 10–11:30 and a weekly section to be arranged. EXAM GROUP: 12, 13
Presents the economic model of crime and assesses the evidence that evaluates this model. Specific topics include the roles of guns, drugs, abortion, the death penalty, and criminal justice policies in determining crime.
Prerequisite: Social Analysis 10 and Statistics 100 (or equivalent).
Economics 1480. Moral Perspectives on Economic Growth
Catalog Number: 3441 Enrollment: Limited to 20.
Benjamin M. Friedman
Half course (fall term). M., W., F., at 10. EXAM GROUP: 3
Considers economic growth and policies that either promote or impede economic growth, from a social and moral perspective. Focuses on ways in which moral ideas, including religious ideas, have influenced economic thinking, and vice versa. Approaches include economic, historical, and literary analyses.
Prerequisite: Economics 1010a (or 1011a) and 1010b (or 1011b).
[Economics 2410e. Economic Growth]
Catalog Number: 0681
Philippe Aghion
Half course (spring term). Hours to be arranged.
Covers a variety of advanced topics in economic growth and development, including the roles of factor accumulation, differences in productivity, technology adoption and technology diffusion, institutions and politics, culture and social capital.
Note: Expected to be given in 2006–07.
Economics 2410f. Advanced Topics in Closed and Open Economy Macroeconomics
Catalog Number: 3832
Nicola C. Fuchs-Schündeln, Manuel Amador, and Doireann M. Fitzgerald (University of California, Santa Cruz)
Half course (fall term). Tu., Th., 8:30–10. EXAM GROUP: 10, 11
Theory and empirics of microeconomic foundations of closed economy macroeconomics with incomplete markets. Further studies the importance of frictions in asset and good markets in explaining a variety of open economy macro puzzles.
[Economics 2410g. Political Economics]
Catalog Number: 6758
James Robinson and Andrei Shleifer
Half course (spring term). Hours to be arranged.
Discusses several research areas in political economy, including the origins of the state, comparative political systems, theories of economic reform, fiscal problems in democracies, rule of law, privatization, regulation, and elections and the economy.
Note: Expected to be given in 2006–07.
Economics 2415. Theory of Optimal Policy
Catalog Number: 2855
Aleh Tsyvinski
Half course (spring term). Tu., Th., 8:30–10. EXAM GROUP: 10, 11
Theory of optimal taxation including static and dynamic models; taxation; Ramsey and Mirrlees approaches; theory of social insurance. Macroeconomic approach to optimal policy includes fiscal and monetary policy over time and business cycles. Time-consistency problems will be covered.
Economics 2420. Monetary and Fiscal Policy Seminar
Catalog Number: 5946
Aleh Tsyvinski, Philippe Aghion, Alberto F. Alesina, Robert J. Barro (fall term), Benjamin M. Friedman, and members of the Department
Full course. M., 2–4. EXAM GROUP: 7, 8
Seminar speakers present papers on macroeconomic topics, including issues relating to monetary and fiscal policies, economic growth, the role of institutions, and other research issues in the field.
[Economics 2435. Growth and Institutions Workshop]
Catalog Number: 0382
Philippe Aghion, Robert J. Barro, and Dani Rodrik (Kennedy School)
Half course (spring term). Hours to be arranged.
Effects of organizations and institutions on macroeconomic performance, with a particular focus on the interplay among institutions, technical change, and economic growth.
Note: Expected to be given in 2006–07. Students should attend Economics 2420, which will include topics on growth.
Economics 2450a. Public Economics and Fiscal Policy I
Catalog Number: 1339
Caroline M. Hoxby and Leora R. Friedberg (University of Virginia)
Half course (fall term). M., W., (F.), 11:30–1. EXAM GROUP: 4, 5
Surveys theoretical and empirical analyses of taxation and government expenditures. Topics include tax incidence, optimal tax theory, public goods and externalities, and empirical analysis of responses to taxation.
Economics 2450b. Public Economics and Fiscal Policy II
Catalog Number: 6478
David M. Cutler and Martin Feldstein
Half course (spring term). M., W., (F.), 11:30–1. EXAM GROUP: 4, 5
Surveys theoretical and empirical analyses of taxation and government expenditures. Special topics include taxes and corporate finance, social insurance and fiscal policy, including social security and health care.
Economics 2460. Health Economics Workshop
Catalog Number: 7617
David M. Cutler, Erica M. Field, and Joseph P. Newhouse (Kennedy School, Medical School, Public Health)
Half course (spring term). Tu., 8–10. EXAM GROUP: 10, 11
Focuses on theory, econometric models, and public policy of health care. Frontier work in health economics presented and discussed by instructors and outside speakers.
Note: May be taken for credit only by dissertation students writing a research paper. Offered jointly with the Kennedy School as HCP-581.
Economics 2480. The Public Economics and Fiscal Policy Workshop
Catalog Number: 6834
Caroline M. Hoxby, David M. Cutler, and Martin Feldstein
Full course. M., 4–6. EXAM GROUP: 9
Focuses on current issues in the theory and practice of public finance, including both tax and expenditure policies.
*Economics 2490. The Economics of National Security Seminar
Catalog Number: 9061
Martin Feldstein
Half course (spring term). Tu., 6:30–9 p.m. EXAM GROUP: 18
Considers a range of issues relating to national security, including bioterrorism, the market for nuclear weapons, the defense industry, the dependence on imported oil, intelligence, sanctions, etc.
Note: Speakers will be both experts with experience in this field and economists doing research on these issues. Seminar participants will be economics department faculty and selected graduate students.
Economics 1535. International Trade and Investment
Catalog Number: 2557 Enrollment: Limited to 30.
Doireann M. Fitzgerald (University of California, Santa Cruz)
Half course (fall term). M., W., 1–2:30 and a one-hour weekly section to be arranged. EXAM GROUP: 6, 7
Analyzes the causes and consequences of international trade and investment. Focuses on the interplay of economic theory and empirical descriptions of foreign trade and direct investment patterns.
Prerequisite: Economics 1010a or 1011a.
Economics 1540. Topics in International Trade
Catalog Number: 7470
Pol Antràs
Half course (spring term). M., W., 1–2:30. EXAM GROUP: 6, 7
Covers advanced topics in international economics with a special emphasis on an analytical approach to the recent process of globalization. Topics include the effect of international outsourcing on wages, trade and industrial development, and the role of multinational firms in the global economy.
Prerequisite: Economics 1535 and knowledge of calculus.
Economics 1542. International Trade Policy
Catalog Number: 2613
Elhanan Helpman
Half course (fall term). M., W., 2–3:30. EXAM GROUP: 7, 8
Provides a discussion of international trade policies. Begins by reviewing the theory of trade and trade policy in both competitive and non-competitive environments, and proceeds to political economy of trade policy formation. The course requires knowledge of calculus and the ability to deal with analytical methods.
Prerequisite: Economics 1010a or 1011a, or permission of instructor.
Economics 1545. International Financial and Macroeconomic Policy
Catalog Number: 5166 Enrollment: Limited to 30.
Gita Gopinath and Kenneth Rogoff
Half course (spring term). M., W., 1–2:30 and a one-hour weekly section to be arranged. EXAM GROUP: 6, 7
Advanced theoretical and empirical analysis of contemporary international macroeconomic policy issues in both industrialized and developing economies. Topics include exchange rates, international capital flows, debt crises, growth, and policy coordination.
Prerequisite: Economics 1010b or 1011b.
Economics 2530b. International Finance
Catalog Number: 7144
Gita Gopinath and Kenneth Rogoff
Half course (spring term). M., W., 10–11:30. EXAM GROUP: 3, 4
Financial aspects of growth and income determination in open economies. Topics include international business cycle, monetary and exchange rate regimes, capital flows, and current issues in international macroeconomic policy.
Prerequisite: Economics 2530a provides extremely useful background.
Economics 2535. Advanced Topics in International Trade
Catalog Number: 6410
Pol Antràs
Half course (spring term). M., W., 2:30–4. EXAM GROUP: 7, 8
Covers advanced theoretical and empirical topics concerning the determinants of world trade patterns.
Prerequisite: Economics 2530a or permission of instructor.
Economics 2537. International Trade Policy: Issues and Analysis
Catalog Number: 1699
Dani Rodrik (Kennedy School)
Half course (fall term). M., W., (F.), 2:30–4. EXAM GROUP: 7, 8
Develops expertise with economic models used for the analysis of international trade policies. Focuses on theoretical and empirical work relating to trade patterns, income distribution, growth, development, industrial policy, political economy, and the WTO.
Note: Students are expected to make presentations and write a research paper. Offered jointly with the Kennedy School as ITF-345. First Meeting: Wednesday, September 14 in Littauer 332, KSG.
Prerequisite: Graduate level microeconomics and econometrics.
Economics 2540. The International Economics Workshop
Catalog Number: 4008
Elhanan Helpman (fall term), Kenneth Rogoff (spring term), and members of the Department
Full course. W., 4–6. EXAM GROUP: 9
Research papers in all aspects of international economics, including theory, econometrics, and policy.
Economics 1640. Industrial Organization: Theory and Applications
Catalog Number: 7875 Enrollment: Limited to 30.
Ulrich Doraszelski
Half course (fall term). Tu., Th., 8:30–10. EXAM GROUP: 10, 11
Theoretical and empirical analysis of contemporary topics in industrial organization. Uses economic theory to analyze important issues facing firms, and examines the practical challenges of empirical applications of theory. Topics include horizontal relationships and mergers, vertical integration and control through contractual arrangements, price discrimination, information and search costs, innovation and intellectual property rights, and network externalities. Each topic combines theoretical analysis with a study of actual firm behavior.
Prerequisite: Economics 1010a or 1011a.
Economics 1661. Environmental and Resource Economics and Policy
Catalog Number: 2115
Robert N. Stavins (Kennedy School)
Half course (spring term). Tu., Th., 1–2:30 with optional review section F., 1–2:30. EXAM GROUP: 15, 16
Provides a survey, from the perspective of economics, of environmental and natural resource policy. Combines lectures on conceptual and methodological topics with examinations of public policy issues. Topics include principles of environmental and resource economics, nonrenewable resources (minerals and energy), renewable resources (water, forests, land, fisheries), air pollution (stationary and mobile sources, acid rain, and global climate change), water pollution (point and nonpoint sources), waste management, and sustainable development and political aspects of environmental policy.
Note: Expected to be omitted in 2006–07. Offered jointly with the Kennedy School as ENR-201.
Prerequisite: Social Analysis 10 or permission of instructor.
Economics 2611. Industrial Organization II
Catalog Number: 2302
Joseph E. Harrington (Johns Hopkins University)
Half course (spring term). M., W., 1–2:30. EXAM GROUP: 6, 7
Application of industrial organization to problems of public policy. Applied analysis of antitrust policy, network industries, vertical relationships, auctions, and other topics depending on interest.
Note: Students are urged to take Economics 2610 before Economics 2611.
*Economics 2640hf. The Industrial Organization Workshop
Catalog Number: 5981
Julie H. Mortimer, Susan Athey (Stanford University), and Joseph E. Harrington (Johns Hopkins University) (fall term); Ulrich Doraszelski and Joseph E. Harrington (Johns Hopkins University) (spring term)
Half course (throughout the year). M., 2:30–4. EXAM GROUP: 7, 8
Economics 2665. The Economics of Organizations Workshop
Catalog Number: 9819
Oliver S. Hart and George P. Baker (Business School)
Half course (fall term; repeated spring term). Th., 2:30–4. EXAM GROUP: 16, 17
Note: Offered jointly with the Business School as 4230.
Economics 2670. Organizational Economics
Catalog Number: 6913
Oliver S. Hart and George P. Baker (Business School)
Half course (spring term). M., W., 10–11:30. EXAM GROUP: 3, 4
Theoretical and empirical work on organizations. Topics include agency problems inside organizations, boundaries of the firm, relational contracting, authority, hierarchies, delegation, decentralization, and nonstandard organizational arrangements (including joint ventures, venture capital, and public ownership).
Note: Offered jointly with the Business School as 4180.
Prerequisite: Economics 2020.
Economics 2680. Environmental and Natural Resource Economics
Catalog Number: 6529
Martin L. Weitzman
Half course (fall term). Tu., Th., 11:30–1. EXAM GROUP: 13, 14
Basic theory and models, including externalities, common property, instruments for controlling pollution. Applications of optimal control theory to renewable and non-renewable resources. Analysis of cost-benefit, discounting, uncertainty, environmental accounting, “sustainability,” and biodiversity preservation.
Prerequisite: Graduate price theory at level of 2010 or 2020.
*Economics 2690hf. Environmental Economics and Policy Seminar
Catalog Number: 4324
Robert N. Stavins (Kennedy School) and Martin L. Weitzman
Half course (throughout the year). W., 4–5:30. EXAM GROUP: 9
Selected topics in environmental and resource economics. Emphasizes theoretical models, quantitative empirical analysis, and public policy applications. Includes invited outside speakers.
Note: Primarily for graduate students in economics or related fields with environmental interests. Offered jointly with the Kennedy School as ENR-551y. First Meeting: Wednesday, September 14 in Littauer 332, KSG.
Prerequisite: Graduate-level course in microeconomic theory.
[Economics 1733. Topics in Investment Management]
Catalog Number: 6748
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Half course (fall term). Hours to be arranged.
Presents theory and empirical evidence on selected questions in financial economics, with an emphasis on recent empirical research on investment strategies. Focuses on the application of these ideas to investment management. Topics include behavioral finance and market efficiency, patterns in asset prices, and portfolio construction.
Note: Expected to be given in 2006–07.
Prerequisite: Economics 1723; or Economics 1745; or both Social Analysis 10 and permission of the instructor.
Economics 1745. Corporate Finance
Catalog Number: 5889
Efraim Benmelech
Half course (spring term). M., W., 1–2:30, and a one-hour weekly section to be arranged. EXAM GROUP: 6, 7
Introduction to corporate finance, including capital budgeting, capital structure of firms, dividend policy, corporate governance, and takeovers.
Prerequisite: Economics 1010a or 1011a.
Economics 1750. Canadian Financial History
Catalog Number: 4044
Randall Morck (University of Alberta)
Half course (fall term). M., 2–3:30 and M., 4–6. EXAM GROUP: 7, 8
The development of the Canadian economy from New France to the present is used to illustrate the interaction between different schools of economic thought and actual details of economic history. This rich history of economic growth amid scandals and corruption is especially useful in interpreting theories of financial, institutional, and economic development.
Note: If taken for credit, students must also attend the Canada Seminar, held Mondays 4–6, at the Weatherhead Center for International Affairs.
Prerequisite: Social Analysis 10.
Economics 1760. Topics in Financial Economics
Catalog Number: 4594
Jeremy C. Stein
Half course (spring term). Tu., Th., 1–2:30. EXAM GROUP: 15, 16
Theory and empirical evidence on selected questions in financial economics, with an emphasis on current research. Topics include behavioral finance, market efficiency, and corporate investment and financing decisions.
Prerequisite: Economics 1723.
Economics 2724 (formerly Economics 2424). Finance Theory in Continuous Time
Catalog Number: 2614
Robert C. Merton (Business School)
Half course (spring term). Tu., 2–5. EXAM GROUP: 16, 17, 18
Synthesis of finance theory from the perspective of continuous-time analysis covering individual financial behavior, financial markets and intermediaries, corporate finance, governmental and macro finance in an uncertain environment.
Note: Offered jointly with the Business School as 4256. For more information, visit www.hbs.edu/doctoral/registrar/course.html.
Prerequisite: At least one finance course including capital markets; elementary probability and statistics; multi-variate calculus; matrix algebra.
Economics 2725. Corporate Finance
Catalog Number: 1427
Jeremy C. Stein and David S. Scharfstein (Business School)
Half course (spring term). Tu., Th., 10–11:30. EXAM GROUP: 12, 13
Theory and empirical evidence of capital structure, dividends, investment policy, managerial incentives, and takeovers. Topics include market efficiency, agency problems, and ownership.
Note: Offered jointly with the Business School as 4220.
Prerequisite: Economics 2060.
[Economics 2727. Topics in Empirical Corporate Finance]
Catalog Number: 9055
Paul Gompers (Business School) and Joshua Lerner (Business School)
Half course (spring term). Hours to be arranged.
Examines empirical research in corporate finance. Covers empirical research methodology, financial institutions, and financial policy. Major emphasis is on how to do well-executed and persuasive research in corporate finance.
Note: Expected to be given in 2006–07. Offered jointly with the Business School as 4220. Structured to minimize overlap with Economics 2725. Seminar format; students write referee reports and a research paper.
Economics 2728. Behavioral Finance
Catalog Number: 8633
Jeremy C. Stein
Half course (spring term). W., 1–2:30. EXAM GROUP: 6, 7
Deals with theoretical and empirical approaches to the study of financial markets using psychological or behavioral ideas. Topics include limited arbitrage, predictability of security returns, and trading volume.
Prerequisite: Economics 2723.
[Economics 2730. Asset Pricing II]
Catalog Number: 2235
Luis Manuel Viceira (Business School), George Carl Chacko (Business School), and Randolph B. Cohen (Business School)
Half course (spring term). Hours to be arranged.
Emphasis of course is both theoretical and empirical. First part of course develops continuous-time asset pricing models, and their estimation. Second part discusses empirical research on cross-sectional patterns in stock returns.
Note: Expected to be given in 2006–07. Offered jointly with the Business School as 4210.
Prerequisite: Graduate-level microeconomics, macroeconomics, and econometrics; Economics 2723 or equivalent.
*Economics 2770hf. The Financial Economics Workshop
Catalog Number: 1379
Jeremy C. Stein, Efraim Benmelech, John Y. Campbell, and Randall Morck (University of Alberta) (fall term)
Half course (throughout the year). M., 4–5:30. EXAM GROUP: 9
Economics 1813. The Indebted Society
Catalog Number: 6957
James L. Medoff
Half course (fall term). M., W., (F.), at 10. EXAM GROUP: 3
First charts trends in personal, corporate, and government indebtedness in the US, then discusses the impact of each change on societal well-being. Finally, asks about public policy concerning the various forms of US debt.
Prerequisite: Economics 1010a (or 1011a) and Economics 1010b (or 1011b).
[Economics 1815. Social Problems of the American Economy]
Catalog Number: 3130
Lawrence F. Katz
Half course (fall term). Hours to be arranged.
Examines selected social and economic problems of the US and evaluates market and governmental solutions. Topics include discrimination, income and wage inequality, welfare reform, antipoverty strategy (including education and training programs), homelessness, crime, and charitable behavior.
Note: Expected to be given in 2006–07. A research paper is required.
Prerequisite: Social Analysis 10 or permission of the instructor.
[Economics 1818. Economics of Discontinuous Change]
Catalog Number: 3029
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Half course (spring term). Hours to be arranged.
Explores discontinuous changes in the economic position of groups and countries and presents mathematical and computer simulation models designed to illuminate these changes. Examples include growth/decline of trade unions, segregation of groups, development of linkages on the internet, changes in corporate work culture, growth of social pathologies in neighborhoods, and Malthusian concerns about the environment. Models include nonlinear simulations, neural networks, finite automata, evolutionary stable strategies, causal conjunctures, agent-based simulations, and genetic algorithms.
Note: Expected to be given in 2006–07. A research paper is required. Students should have some mathematical background, but there is no prerequisite.
Economics 1822. Economics of Education
Catalog Number: 1004 Enrollment: Limited to 40.
Caroline M. Hoxby
Half course (fall term). M., W., 2–3:30; and a one-hour weekly section to be arranged. EXAM GROUP: 7, 8
Explores why people attain different levels of education, what makes schools efficient, how schools should be financed, what explains rising college tuition, whether education propels macroeconomic growth. Uses labor economics (human capital investment, the market for teachers), public economics (financing K-12 education, public colleges), industrial organization (vouchers, charter schools, market for college education), macroeconomics (growth theory).
Note: A research paper is required of most students, which makes this a good course for those considering honors theses.
Prerequisite: Economics 1010a or 1011a, or permission of the instructor.
Economics 2810b. Labor Economics and Labor Market Institutions
Catalog Number: 3206
Rajeev H. Dehejia (Columbia University)
Half course (spring term). Tu., Th., 2:30–4. EXAM GROUP: 16, 17
Examines the operation of the labor market and evaluation of labor market policies. Topics: labor econometrics, theories of wage determination, changes in the wage structure, unemployment, labor market institutions, social mobility, and social interactions.
Economics 2812. The Labor Economics Workshop
Catalog Number: 0230
Caroline M. Hoxby
Full course. W., 4–5:30. EXAM GROUP: 9
Focuses on research concerning the operation of labor markets.
*Economics 2813. Labor and Work Life Forum
Catalog Number: 1415
Paul C. Weiler (Law School)
Half course (spring term). Th., 4–6. EXAM GROUP: 18
Research and discussion with trade union leaders and management concerning labor issues.
*Economics 3005. Reading and Research
Catalog Number: 3493
Members of the Department
Individual work or work in small groups (with a professor or lecturer in residence) in preparation for the general examination for the PhD degree, or work on special topics not included in course offerings.
*Economics 3010. Direction of Doctoral Dissertations
Catalog Number: 4579
Members of the Department
Note: In all cases, the thesis topic must have been formally submitted to, and approved by, a thesis advisor.
*Economics 3011. Research in Behavior in Games and Markets
Catalog Number: 0109
Attila Ambrus 4665, Drew Fudenberg 3460, Jerry R. Green 1539, David I. Laibson 1241 (on leave spring term), Markus M. Möbius 3441, and Alvin E. Roth 564
Half course (fall term; repeated spring term). W., 11:30–1.
Serves mainly as a forum for presentations by graduate students of their current research. Work presented can be very preliminary and conjectural.
Prerequisite: Economics 2010a (or 2020a) and 2010b (or 2020b).
*Economics 3030hf. Psychology and Economics in the Field
Catalog Number: 3877
Sendhil Mullainathan 5139 and Nava Ashraf (Business School) 5317
Half course (throughout the year). Fall: M., at 1:30; Spring: M., at 12.
Participants present empirical applications of economics and psychology. Most topics will be proposed designs of field experiments.
Note: Open to doctoral students only.
*Economics 3163hf. Research in Econometrics
Catalog Number: 4392
Dale W. Jorgenson 2000 (on leave fall term), Gary Chamberlain 1745, Rustam Ibragimov 5329, Marcelo J. Moreira 4365 (on leave spring term), James H. Stock 1783 (on leave spring term), and Samuel B. Thompson 3406 (on leave 2005-06)
Half course (throughout the year). M., 12–2.
Participants discuss recent research in econometrics and present their own work in progress. Open to doctoral students in economics.
*Economics 3336hf. Research in Economic History
Catalog Number: 0639
Jeffrey G. Williamson 7680, Michael Bordo (Rutgers University) 5308 (spring term only), and Claudia Goldin 2667 (on leave 2005-06)
Half course (throughout the year). M., 4–5:30.
Participants discuss recent research in economic history and present their own work in progress.
Note: Primarily, but not exclusively, for doctoral students in economics who have passed their oral examinations.
*Economics 3390hf. Research in Economic Development
Catalog Number: 2532
Michael R. Kremer 2112 (on leave 2005-06), Erica M. Field 5095, Robert T. Jensen (Kennedy School) 4548, Asim I. Khwaja (Kennedy School) 3994, Dwight H. Perkins 2300 (on leave fall term), Mark R. Rosenzweig (Kennedy School) 4595, and Jeffrey G. Williamson 7680
Half course (throughout the year). W., at 1.
Participants discuss recent research in development economics and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.
*Economics 3410dhf. Research in Macroeconomics
Catalog Number: 2126
Alberto F. Alesina 2074, Robert J. Barro 1612 (on leave spring term), and David I. Laibson 1241 (on leave spring term)
Half course (throughout the year). Tu., 12–1:30.
Participants discuss recent research in macroeconomics and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.
*Economics 3450chf. Research in Public Economics and Fiscal Policy
Catalog Number: 3436
David M. Cutler 2954, Edward L. Glaeser 3219, Caroline M. Hoxby 1235, and Lawrence F. Katz 1480 (on leave 2005-06)
Half course (throughout the year). Th., 1–2:30.
Participants discuss recent research in public economics and fiscal policy and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.
*Economics 3460chf. Research in Health Economics
Catalog Number: 5309
Joseph P. Newhouse (Kennedy School, Medical School, Public Health) 2425
Half course (throughout the year). Hours to be arranged.
Participants discuss recent research in health economics. Course may also include presentation of original research by participants. Open to doctoral students only.
*Economics 3530hf. Research in International Economics
Catalog Number: 5777
Manuel Amador 5309, Pol Antràs 4666, Richard N. Cooper 7211, Gita Gopinath 5042, Elhanan Helpman 2334, Marc J. Melitz 3499 (on leave 2005-06), and Kenneth Rogoff 1746
Half course (throughout the year). W., at 12.
Participants discuss recent research in international economics and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.
*Economics 3650hf. Research in Industrial Organization
Catalog Number: 3318
Susan Athey (Stanford University) 5334 (fall term only), Richard E. Caves 1414, Ulrich Doraszelski 5024, Joseph E. Harrington (Johns Hopkins University) 5335, Julie H. Mortimer 3993, and Ariel Pakes 1774 (on leave 2005-06)
Half course (throughout the year). W., 2:30–4.
Participants present their own research in progress in an informal setting. Open to doctoral students in economics who have passed their general examinations and are in the early stages of their dissertations.
*Economics 3660hf. The Law, Economics, and Organizations Workshop
Catalog Number: 4325
Lucian Arye Bebchuk (Law School) 2042, Oliver S. Hart 3462, Louis E. Kaplow (Law School) 3223, and Joshua Lerner (Business School) 1601
Half course (throughout the year). M., 12:30–2.
The presentation of work in progress in the field of law, economics, and organizations. Presentations by members of the various Harvard faculties, outside speakers, and graduate students.
Note: Offered jointly with the Law School as 96250-11 and the Business School as 4670.
*Economics 3680hf. Research in Environmental Economics
Catalog Number: 1227
Robert N. Stavins (Kennedy School) 2093
Half course (throughout the year). F., at 12.
Participants discuss recent research in environmental and natural resource economics and present their own work in progress.
Note: Open to doctoral students only.
*Economics 3723hf. Research in Financial Economics
Catalog Number: 4107
George Carl Chacko (Business School) 3175, Randall Morck (University of Alberta) 2742 (fall term only), Jeremy C. Stein 3752, and Luis Manuel Viceira (Business School) 3183
Half course (throughout the year). F., 12–1:30.
Participants discuss recent research in financial economics and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.
Note: Offered jointly with the Business School as 4601.
*Economics 3810chf. Research in Labor Economics
Catalog Number: 4066
Claudia Goldin 2667 (on leave 2005-06), Caroline M. Hoxby 1235, and Lawrence F. Katz 1480 (on leave 2005-06)
Half course (throughout the year). Th., 1–2:30.
Participants discuss recent research in labor economics and present their own work in progress. Open to doctoral students in economics who have passed their oral examinations.