Economics

This course examines the basic principles, methods and models of econometrics, including the principle of single variable and multiple variables linear regression analysis, simple nonlinear regression analysis, multi-equation model, basic time series analysis, fundamental panel data model, the discrete (binary) choice models, and applied econometrics methods and examples.

Often the study of Economics begins with the Industrial Revolution, but recent work across the social sciences makes it increasingly clear that the important antecedents are found further in the past. The course takes students from the Neolithic Revolution to the present day. It will focus on the deep roots of divergence, considering economic and social structures before industrialization, exploring arguments about how and why living standards and economic performance have improved markedly, while at the same time, looking at how development has diverged between different societies and across societies at the same point in time. The course endeavors not just to describe these processes, but also to suggest and consider explanations for them.

This course provides an overview of how individual consumers and firms interact through the institution of competitive markets. The objectives of the course are for students to understand what a market is; describe the market behavior and be able to make precise predictions regarding the outcomes of market interactions; analyze the welfare properties of market outcomes; understand phenomena that lead to departures from efficiency, such as externalities, public goods, and asymmetric information; and investigate the role of uncertainty in making decisions.

This course provides students with a thorough understanding of core concepts and methods of macroeconomics, as a foundation for subsequent study of macroeconomic topics within the degree program, and as one of the key elements in the professional training of an economist.