| source MIT (X) |
level |
department Economics (X) |
14.003 Microeconomic Theory and Public Policy ( , ) (Subject meets with 14.03 ) Prereq: 14.01 Units: 4-0-8 Lecture: MW10.30-12 ( 32-124 ) Recitation: F9 ( 56-162 ) or F10 ( 56-162 ) +final Applies microeconomic theory to analysis of public policy. Builds from microeconomic model of consumer behavior; extends to operation of single and multiple markets and analysis of why markets sometimes fail. Empirical examples to evaluate theory, focusing on the casual effects of policy interventions on economic outcomes. Topics include minimum wages and employment, food stamps and consumer welfare, economics of risk and safety regulation, the value of education, and gains from international trade. Graduate students are expected to complete additional assignments. Fall: D. Autor Spring: S. Ryan
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14.01 Principles of Microeconomics ( , ) Prereq: None Units: 3-0-9 Lecture: MW2 ( 4-270 ) or NO LECTURE FOR RECS 07-10 Recitation: F10 ( 2-142 ) or F11 ( 2-142 ) or F12 ( 2-142 ) or F1 ( 2-142 ) or F2 ( 2-142 , 2-143 ) or MWF9 ( 5-233 ) or MWF10 ( 5-233 ) or MWF11 ( 5-233 ) or MWF1 ( 5-234 ) +final Introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Applications to problems of current economic policy. Fall: W. Wheaton Spring: J. Harris
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14.02 Principles of Macroeconomics ( , ) Prereq: None Units: 3-0-9 Lecture: MW1 ( 34-101 ) or NO LECTURE FOR RECS 07-12 Recitation: F10 ( 12-142 ) or F11 ( 12-142 ) or F12 ( 12-142 ) or F1 ( 4-370 ) or F2 ( 12-142 ) or F3 ( 12-142 ) or MWF9 ( 12-122 ) or MWF10 ( 26-168 , 12-122 ) or MWF11 ( 12-122 ) or MWF2 ( 12-122 ) or MWF3 ( 12-122 ) Provides an overview of macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Monetary and fiscal policies are discussed. Important current policy debates such as the sub-prime crisis, social security, the public debt, and international economic issues are critically explored. Introduces basic models of macroeconomics and illustrates principles with the experience of the US and foreign economies. Fall: V. Guerrieri Spring: F. Giavazzi
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14.03 Microeconomic Theory and Public Policy ( , ) (Subject meets with 14.003 ) Prereq: 14.01 Units: 4-0-8 Lecture: MW10.30-12 ( 32-124 ) Recitation: F9 ( 56-162 ) or F10 ( 56-162 ) +final Applies microeconomic theory to analysis of public policy. Builds from microeconomic model of consumer behavior; extends to operation of single and multiple markets and analysis of why markets sometimes fail. Empirical examples to evaluate theory, focusing on the casual effects of policy interventions on economic outcomes. Topics include minimum wages and employment, food stamps and consumer welfare, economics of risk and safety regulation, the value of education, and gains from international trade. Fall: D. Autor Spring: S. Ryan
Score: 8.097902 Details | Listing | Web page
14.04 Intermediate Microeconomic Theory ( ) Prereq: 14.01 , Calculus II (GIR) Units: 4-0-8 Lecture: MW9-10.30 ( E52-175 ) Recitation: F9 ( E51-372 ) or F12 ( E51-376 ) +final Analysis of consumer and producer decisions including analysis of competitive and monopolistic markets. Price-based partial and general equilibrium analysis. Introduction to game theory as a foundation for the strategic analysis of economic situations. Imperfect competition, dynamic games among firms. Failures of general equilibrium theory and their resolutions: externalities, public goods, incomplete information settings, signaling, screening, insurance, alternative market mechanisms, auctions, design of markets. P. Pathak
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14.05 Intermediate Applied Macroeconomics ( ) Prereq: 14.01 , 14.02 Units: 4-0-8 Uses the tools of macroeconomics to study various macroeconomic policy problems in depth. The problems range from economic growth in the long run to government finances in the intermediate run and economic stability in the short run. Many economic models used today are surveyed. Requires a 20-page paper on the economics of long-run economic growth. G. M. Angeletos
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14.06 Advanced Macroeconomics ( ) Prereq: 14.05 Units: 4-0-8 Topics in advanced macroeconomics including growth, business cycles, monetary and fiscal policy, consumption and investment under uncertainty, asset pricing, financial intermediation, coordination problems, and crises. Emphasis on models and techniques. Consult G. M. Angeletos
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14.09 Reading Seminar in Economics ( , , , ) Prereq: 14.04 , 14.06 Units arranged [P/D/F] TBA. Reading and discussion of particular topics in economics. Open to undergraduate students by arrangement with individual faculty members. Consult Department Headquarters. S. Ellison
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14.10 Reading Seminar in Economics ( , , , ) Prereq: 14.04 , 14.06 Units arranged TBA. Reading and discussion of particular topics in economics. Open to undergraduate students by arrangement with individual faculty members. Consult Department Headquarters. S. Ellison
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14.102 Mathematics for Economists ( ) Prereq: Calculus I (GIR) , Calculus II (GIR) , 18.06 Units: 4-0-8 Covers some topics in mathematics that are frequently used in economic theory and in applications. Topics include: optimization theory (including optimal control and recursive methods); probability theory; topology (continuity, compactness); dynamical systems (including stability); convex analysis; and fixed point theory. Presentation of each topic self-contained. Consult Department Headquarters
Score: 8.097902 Details | Listing | Web page
14.11 Special Topics in Economics ( , ) Prereq: 14.01 Units: 4-0-8 Considers issues of current research interest in economics. Consult Department Headquarters
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14.12 Economic Applications of Game Theory ( ) Prereq: 14.01 ; 14.03 , 6.041 or permission of instructor Units: 4-0-8 Lecture: TR10.30-12 ( 1-190 ) Recitation: F10 ( E51-063 ) or F2 ( E51-063 ) or F3 ( E51-085 ) +final Analysis of strategic behavior in multi-person economic settings. Introduction to solution concepts, such as rationalizability, backwards induction, Nash equilibrium, subgame-perfect equilibrium, and sequential equilibrium, with a strong emphasis on the assumptions behind these solution concepts. Issues of incomplete information, such as signaling and reputation formation. Applications drawn from microeconomics and political economy. G. Ellison
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14.121 Microeconomic Theory I ( ) Prereq: 14.04 , permission of instructor Units: 2-0-4 Lecture: MW1-2.30 (ENDS OCT 23) ( E51-149 ) Recitation: F1-2.30 (ENDS OCT 23) ( E51-057 ) Consumer and producer theory. Markets and competition. General equilibrium. Tools of comparative statics and their application to price theory. Class size limited. P. Pathak
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14.122 Microeconomic Theory II ( ) Prereq: 14.121 , permission of instructor Units: 2-0-4 Lecture: MW1-2.30 (BEGINS OCT 26) ( E51-149 ) Recitation: F1-2.30 (BEGINS OCT 26) ( E51-057 ) +final Introduction to game theory. Normal form and extensive form games. Games with incomplete information. Class size limited. G. Ellison
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14.123 Microeconomic Theory III ( ) Prereq: 14.121 , 14.122 , permission of instructor Units: 2-0-4 Models of individual decision-making under certainty and uncertainty. Additional topics in game theory. Class size limited. M. Yildiz
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14.124 Microeconomic Theory IV ( ) Prereq: 14.123 , permission of instructor Units: 2-0-4 Decision-making under uncertainty, information economics, incentive and contract theory. Class size limited. S. Baliga
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14.126 Game Theory ( ) Prereq: 14.122 Units: 3-0-9 Rigorous investigation of the evolutionary and epistemic foundations of solution concepts, such as rationalizability and Nash equilibrium. Covers classical topics, such as repeated games, bargaining, and supermodular games as well as new topics such as global games, heterogeneous priors, psychological games, and games without expected utility maximization. Applications provided when available. M. Manea, M. Yildiz
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14.129 Advanced Contract Theory ( ) Prereq: 14.121 , 14.281 , or permission of instructor Units: 4-0-8 Recent developments in contract theory. Includes advanced models of moral hazard, adverse selection, mechanism design and incomplete contracts with applications to theory of the firm, organizational design, and financial structure. R. Townsend
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14.13 Economics and Psychology ( ) Prereq: 14.03 Units: 4-0-8 Introduction to theoretical and empirical literature in the new field of behavioral economics. Examines important and systematic departures from the predictions of the standard model in economics; covers intertemporal tradeoffs, risk preferences, social preferences, and intrinsic motivation; and applies theory to many different areas, such as credit card debt, addiction, portfolio choices, labor supply, and compensation policies of firms. Students review evidence from lab experiments, examine how the results can be integrated into models, and test models using field and lab data. Consult Department Headquarters
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14.137 Psychology and Economics ( ) Prereq: None Units: 4-0-8 Examines "psychology appreciation" for economics students. Aims to enhance knowledge and intuition about psychological processes in areas relevant to economics. Increases understanding of psychology as an experimental discipline, with its own distinct rules and style of argument. Topics include self-knowledge, cognitive dissonance, self-deception, emotions, social norms, self-control, learning, mental accounting, memory, individual and group behavior, and some personality and psycho-analytic models. Within each of these topics, we showcase effective and central experiments and discuss their role in the development of psychological theory. Term paper required. D. Prelec
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14.147 Topics in Game Theory ( ) Prereq: 14.126 Units: 4-0-8 Lecture: MW4-5.30 (BEGINS OCT 26) ( E51-385 ) Advanced subject on topics of current research interest. P. Pathak
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14.15J Networks (New) ( ) (Same subject as 6.207J ) Prereq: 6.041 or 14.30 Units: 4-0-8 Lecture: MW2.30-4 ( 32-141 ) Recitation: F2 ( 32-141 ) Highlights common principles that permeate the functioning of diverse technological, economic and social networks. Utilizes three sets of tools for analyzing networks--random graph models, optimization, and game theory--to study informational and learning cascades; economic and financial networks; social influence networks; formation of social groups; communication networks and the Internet; consensus and gossiping; spread and control of epidemics; control and use of energy networks; and biological networks. D. Acemoglu, A. Ozdaglar
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14.16 Strategy and Information ( ) Prereq: 14.12 or permission of instructor Units: 4-0-8 Models of individual decision making. Topics in cooperative and non-cooperative game theory. Various applications ranging from voting and mechanism design to auctions and market microstructure models in finance. M. Manea
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14.160 Experimental and Behavioral Economics ( ) Prereq: 14.122 Units: 4-0-8 Lecture: W EVE (4-7.30 PM) ( E51-376 ) Recitation: F4 ( E51-372 ) Introduction to choice theory and the techniques of experimental economics and their applications. Covers behavioral implications of alternative choice-theoretic models. Teaches students how to design and run experiments. Topics covered may include subjective/Choquet expected utility; models of preference for flexibility and commitment; intertemporal choice; social preferences; competitive experimental markets; bargaining behavior; labor market experiments; cooperation and public good provision; principal-agent experiments and contract enforcement; nominal inertia and money illusion. E. Fehr
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14.191 Independent Research Paper ( , , , ) Prereq: Permission of instructor Units: 0-12-0 TBA. Under supervision of a faculty member approved by Graduate Registration Officer, student writes a substantial, probably publishable research paper. Must be completed by the end of a student's second year to satisfy the departmental minor requirement. E. Duflo
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