Course Descriptions

Econ 526: Quantitative Methods I

Economics 526 equips students with the mathematical techniques and understanding needed prior to taking the core Ph.D. sequence in microeconomic theory, macroeconomics, and econometrics. Topics include linear algebra, topology, advanced calculus, and optimization theory.

Prerequisite: Graduate standing or permission of instructor. This course is one of the core courses in the economics graduate program.

Econ 600: Microeconomic Theory I

This course covers the advanced treatment of the theories of consumer and producer behavior using multivariate calculus. The course begins by examining the theory of the consumer and extends the classical theory to uncertainty. It then proceeds to examine producer theory. Both sides of the market are then analyzed together in an equilibrium framework. The course concludes by relaxing some of the assumptions of the competitive model.

Prerequisite: A course in intermediate microeconomics. This course is one of the core courses of the economics graduate program.

Econ 601: Microeconomic Theory II

This course is the second part of the core graduate sequence in microeconomic theory. The topics covered include game theory, market structure, and market failure. We begin with a rigorous introduction to game-theoretic modeling techniques. We then apply these techniques to analyze market failures that arise because of market power, externalities, and asymmetry information, and to design mechanisms by which these market failures may be avoided.

Prerequisites: Graduate Microeconomics I and Quantitative Methods I; graduate standing or permission of instructor. This course is one of the core courses in the economics graduate program.

Econ 602: Microeconomic Theory III

This course covers the basic concepts and elements of game theory with the emphasis on applying its various analytical tools and solution concepts to a variety of situations. The topics covered are static and dynamic games with complete information; static and dynamic games with incomplete information; and the refinements of equilibrium concepts. In particular, we will study Signaling, Screening, Adverse Selection, Moral Hazard, Repeated Games, Bargaining, Mechanism Design, and Auctions. The course is designed to give you a relatively sophisticated and broad knowledge of game theory related topics in addition to helping further develop your analytical and modeling skills. You will participate in games, which will strengthen your ability to think strategically.

Prerequisites: Economics 526 and 600 or 601, or equivalent. This course is highly recommended for all economics graduate students.

Econ 603: Economic Reasoning

This seminar introduces students to the form of reasoning economists¿ use in identifying, formulating, and solving applied economic problems. It involves reading and reporting on some of the great articles and parts of books from the past half-century. Each week four to six works are read, reported upon by students, and discussed. The works studied are from most of the major fields of economics, both micro and macro.

Prerequisites: Econ 600 and 610 or their equivalents, graduate standing, or permission of the instructor. This course is one of the core courses in the economics graduate program.

Econ 610: Macroeconomic Theory I

You will learn the basic tools of modern macroeconomics that are necessary to read and understand research papers in the field. We will use the approach of Dynamic General Equilibrium Models. To this end, we will spend a lot of time studying terminology and tools but should also be able to look at applications later in the class. This is the first course in the graduate macroeconomics sequence.

Prerequisite: Graduate standing or permission of instructor. The course requires familiarity with multivariate calculus, linear algebra, and basic probability and statistic theory. This course is one of the core courses of the economics graduate program.

Econ 611: Macroeconomic Theory II

The course focuses on the conceptual framework and the models that the majority of modern macroeconomists use.  The course attempts to show "life at the frontier," depicting the various directions in which researchers are currently working.  The course covers various models economists used to explain business cycles, starting with the Theory of Economic Growth, and the discussion of the topics of Consumption, Investment and Asset Prices.  The latter part of the course looks at applications such as Unemployment and the Phillips Curve, Political Economy and Optimal Monetary Policy.

Prerequisite: Graduate standing or permission of the instructor. This course is one of the core courses of the economics graduate program.

Econ 620: Probability Theory & Statistics Inference

The course covers essentials of probability theory and mathematical statistics. The first part of the course is concerned with random variables, distribution functions, moment generating functions, and limiting distributions. The second part covers the theory of point and interval estimation, hypothesis testing, and inference in the linear model.

Prerequisite: Graduate standing or permission of instructor. This course is one of the core courses in the economics graduate program and a prerequisite for Economics 521, Econometric Methods.

Econ 626: Quantitative Methods II

The course focuses on various approaches used in solving finite and infinite horizon dynamic optimization problems frequently encountered in economics. These approaches include calculus of variation, dynamic programming, and optimal control. In each case we will discuss the first and second order (necessary and sufficient) conditions for an optimum and their economic interpretation. Both constrained and unconstrained optimization problems will be considered. Examples from various fields of economics Other issues and methods to be discussed include differential equations, phase diagram analysis, dynamical systems, discrete and nonlinear approximations, and simulation methods in economics.

Prerequisite: Graduate standing or permission of instructor. This course is one of the core courses in the economics graduate program.

Econ 621: Econometric Methods I

This is a central required course in the Econometrics core area, coming after at least one other course covering rigorous statistics and aspects of the linear regression models. Topics may include, general linear models, specification analysis, testing and model evaluation, HAC estimation and inference, GMM techniques, simultaneity and, more generally, endogeneity and IV methods, forecasting, some aspects of limited dependent variables and dynamic models, Monte Carlo and bootstrap resampling techniques, and asymptotic inference as needed.

Prerequisites: Econ 620 or equivalent as approved by the instructor.

Econ 622: Econometric Methods II

This is a continuation of the central required course in the Econometrics core area. Topics may include: bootstrapping, limited dependent variables, panel data models, non-linear and generalized least squares, least absolute deviations, quantile regression, numerical optimization, meansurement error models, asymptotic tests, linear systems of equations, and nonparametric regression.

Prerequisites: Econ 620 and Econ 621 or equivalent as approved by the instructor.

Econ 655: Grant Writing: Theory and Practice

The objective of the course is to introduce the students to the elements of grant writing both in theory and practice. More specifically, we will start with a short review of historical facts about grant activities and theory of funded research, role of government, and the effect of recent policy changes on research subsidy. Next, we discuss various U.S. and international agencies that fund economics and their respective policies for funding academic research, drawing extensively on the internet. Issues such as selection of topic, matching the topic with funding source, and the reverse process of searching the funding source to identify compatible topics for research are particularly emphasized. At this point students are ready for the applied component of the course. In this part, we start with a comprehensive coverage of Emory University policies regarding sponsored research, support structure, process, and various offices involved. In the final segment of the course the students will be guided to identify relevant funding opportunities in areas of their interest, and go through the process of drafting a proposal. The proposal will be reviewed with the help of various support offices across campus and submitted. The resulting grant proposal project would be a joint work that might also involve the faculty. Depending on lecture topic, various guest lecturers from the University¿s research offices and funding as well as faculty with strong funding record will be invited to speak to the students.

Prerequisites: Successfully pass graduate core exams or Instructor permission.

Econ 693: Teaching Economics

The course consists of twelve sessions.  Each session will have readings and or exercises related to teaching economics or, more broadly, issues related to being professional economists.   Topics include how to lecture effectively, how to make up tests, how to design a course, and how to use experimental economics in the classroom.  Members of the faculty will lead some of the discussions.

Prerequisites: Graduate standing and completion of TATTO600, or permission of the instructor. Graduate students in economics will normally take this course in the year they first begin to teach.

Econ 697R: Directed Study

Intensive reading in economics on a topic not covered in a regular course. Students must receive Departmental permission to take this course, from both the faculty supervisor and the Director of Graduate Studies. Students must register for this course for a letter grade.

Prerequisite: Permission Required.

Econ 699R: Thesis Research

Research and writing for the Master of Arts thesis. Students must receive Departmental permission to take this course, both from the faculty supervisor and from the Director of Graduate Studies. Students must register for this course on an S/U basis only.

Prerequisite: Permission Required.

Econ 706: Game Theory

Formal study of interdependent choice. Topics include: Utility theory; basic theory of non-cooperative games; two-person zero sum and nonzero sum games; cooperative games and characteristic functions; the core, solution theory; and repeated games and information. Applications are to economic and political decision making.

Econ 710: Experimental Economics

This course is an introduction to experimental methods in economics. It covers practical techniques for conducting and reporting economic experiments and reviews previous findings and current developments in experimental research. Topics covered include markets, bargaining, games, individual decisions, and consumer behavior. Students learn to design and conduct original experiments.

Econ 711: Monetary/Financial Economics

The impact of monetary policy on the real sector remains the focus of intense debate between macroeconomists. We explore this debate by examining the underlying theoretical models monetary policy is based upon. Of particular interest is the transmission of changes in policy variables to real variables. Is output influenced by money, credit, or both? Other topics will be selected depending on the students¿ interests.

Econ 720: Topics in Macroeconomics and Finance

This course focuses on a variety of topics that complement the material covered in Econ 510 and 511. The focus tends to be on the behavior of the firm. Topics include investment models (convex adjustment costs, non-convex adjustment costs, inventory), consumption models (real spending, asset pricing), monetary policy (monetary shocks, independence/credibility/ transparency), fiscal policy, and financial/real sector interactions (asymmetric information and financing, stock market valuations and investment, the financial accelerator). Other topics may be added depending on student interests.

Prerequisites: Econ 610 and 611 or permission of the instructor. Grading based on class presentation and research paper.

Econ 721: Advanced Microeconometrics

This course deals with advanced econometric methods for the analysis of models and applications in micro-econometrics. Topics include cross-section and panel data models, limited dependent variables, generalized method of moments, quantile estimation, treatment effect and program evaluation techniques, semi and nonparametric methods, nonlinear and simultaneous equation models.

Prerequisites: Econ 600, 601, 610, 611, 620, 621, and 526 or permission of instructor.

Econ 722: Time Series Econometrics

This course covers traditional methods of time series analysis and inference in dynamic models as the starting point. These include ARIMA, distributed lag, dynamic and ARCH models. The course also covers dynamic simultaneous equation and VAR models. Other topics include recent developments in time series econometrics, emphasizing non-stationarity. The Unit root versus trend stationarity debate will also be discussed, along with co integration method as tools for modeling long-run economic relationships. Basic methodological issues are particularly emphasized.

Econ 723: Topics in Econometrics I

This course explores advanced econometric topics, including dynamic simultaneous equations, limited dependent variables, systems of regression equations, cross-section analysis, model specification, and regressor selection.

Econ 724: Applied Econometrics

This is the third course in a sequence that constitutes the econometrics field in the graduate curriculum. The course focuses on application of time series and panel data/limited dependent variable analyses. This is not a cookbook course to encourage mindless regression running. It rather is a theory based applied course. Students are expected to be comfortable with econometric theory and therefore ready to apply econometric methods to data on a logical and scientifically reasoned fashion.

Prerequisite: Economics 722 or permission of the instructors.

Econ 726: Computational/Empirical Economics

This course covers some of the essential computational methods frequently used in macroeconomics. It is divided into two halves, broadly reflecting our own research interests and expertise. The first part will cover methods for solving representative-agent models and some topics in time series econometrics. The second part will focus on solving heterogeneous-agent methods. At the end of this course, you will be able to solve and/or estimate most models that are widely used in macroeconomics.

Prerequisites: Econ 610 and 611

Econ 727: Topics in Econometrics II

This course explores advanced econometric topics. Topics will be updated continually to reflect the current state-of-the-art knowledge. At the end of the course students should demonstrate a deep understanding of the theoretical foundations and applications of the topics. 

Econ 731: International Trade Theory

This is a graduate course in international trade, the "real" part of international economics. We will be concerned with international transactions in goods and, to a lesser extent, with international migration and direct investments. We will study the determinants and the welfare effects of trade, the policies that are used to influence trade, and the empirical work related to various theories of trade. This course will not include the study of international transactions in money and other financial assets.

Prerequisites: Economics 526 and 600, or equivalent

Econ 732: International Finance

This course surveys recent empirical and theoretical developments in the field of international finance and open-economy macroeconomics. Topics may include (1) basic balance-of-payments theory, (2) intertemporal models of the currency account, (3) real exchange rate and the terms of trade, (4) international business cycle models, (5) international portfolio diversification and risk sharing, (6) exchange rate dynamics, (7) speculative attacks on fixed exchange rate regimes, (8) international macroeconomic policy coordination, and (9) recent developments in new open economy macroeconomics.

Prerequisites: Graduate Micro & Macroeconomics.

Econ 742: Law and Economics

This is the primary graduate course in law and economics. We study the economic analysis of property, contract, torts, crime and other legal topics. We read classic and contemporary articles in the field. The emphasis is on identifying research topics.

Econ 751: Economics of Capital Markets

The purpose of this course is to give you a solid foundation in the basic economic theory and econometrics used in analyses of financial markets. Part of the course will be the development of theories of asset markets, and most of the course will be the development of econometric analysis used in those markets and assessment of existing empirical research. By the end of the course, you should acquire the tools necessary to read and understand issues raised in the empirical finance literature and use that research in related economics research.

Econ 761: Market Structure and Imperfect Competition

In this course we will focus on both the classic and more recent theories of the impact of market structure and imperfect competition on firm behavior and economic performance. While the primary focus of the course is theoretical, where possible we will confront the theory with evidence from the real world and discuss antitrust issues.

Econ 762: Theory of the Firm

In this course we will study elements of contract theory as applied to understanding the firm's organizational form, behavior, and response to changes in informational and legal environments. The course will be of interest to the students of industrial organization and applied game theory. The course contents can be broadened, however, depending on the students' interests.

Econ 763: Labor Economics

This course is a one-semester survey of selected topics in labor economics. Broadly speaking, these topics deal with factors that determine wages. We will also cover aspects of the relationship between workers and firms.

Econ 770: Health Economics I

This course is designed to introduce students to the application of economic theory to health behaviors and health care markets.  Topics will include the production of and demand for health, the economics of healthy and unhealthy behaviors, the demand for medical care, uncertainty and insurance, and topics relating to the pharmaceutical industry.  The role of government in regulating health care markets and in promoting healthy behavior will also be discussed.

Econ 771: Health Economics II

This course explores the industrial organization of health care markets in the U.S. We will focus on the following areas: hospital production and competition, information asymmetries, vertical integration between physicians and hospital, insurance markets (including adverse selection and managed competition), and finally issues of insurer and hospital bargaining. The class is effectively designed as an empirical IO course with applications to health care. As such, we will also examine several econometric tools used in the literature, including production function estimation, demand estimation, and some coverage of structural econometric methods. These methods will be introduced as needed throughout the course.

Prerequisites: Econ 600 (Micro I), Econ 621 (Econometrics)

Econ 791G/791H: Dissertation Workshop I & II

The Dissertation Workshop meets weekly in the fall and spring semesters. Students and faculty read, hear, and discuss critically work in progress prepared by themselves and visiting scholars. All first year graduate students must audit this course. All second, third, and fourth year students must register for this course on an S/U basis.

Particulars: Required Participation in the Workshop or a commentary, in the nature of a referee's report, on the Workshop. This is a two-hour course.

Econ 797R: Tutorial in Economics

Supervised research and exploratory study for the development of a proposal for a dissertation topic for the Ph.D. Students must receive Departmental permission to take this course, both from the faculty supervisor and from the Director of Graduate Studies. Students may register for this course on an S/U basis only.

Econ 799R: Dissertation Research

Research and writing of a Ph.D. dissertation on a topic previously approved by the Department faculty, under the supervision of a committee appointed with the advice and consent of the faculty. Students may register for this course on an S/U basis only.