Course Schedule

Applied Economics

The courses below are those offered for the term. (To view the course description, class dates & times, touch on accordion tab by the title.)

  • Washington DC Center

    440.021.51 - Practicum in Applied Economics

    $4160

    Frank Weiss

    Monday 6:00 - 8:30; 8/28 - 12/11

    Internships or external projects applicable to the program curriculum qualify for the course. Permission of the student's advisor and of the Program Director is required before adding this non-credit course.

    440.601.51 - Microeconomic Theory

    $4160

    Curtis Carlson

    Monday 6:00 - 8:30; 8/28 - 12/11

    Prerequisite: AS.440.304, Math Methods for Economists This course offers a systematic presentation of consumer theory, theory of the firm, and market equilibrium. Topics covered include constrained optimization, preferences and utility, exchange, production, pricing, market structures, and welfare economics.

    440.601.52 - Microeconomic Theory

    $4160

    Cristina Tello-Trillo

    Tuesday 6:00 - 8:30; 8/29 - 12/12

    Prerequisite: AS.440.304, Math Methods for Economists This course offers a systematic presentation of consumer theory, theory of the firm, and market equilibrium. Topics covered include constrained optimization, preferences and utility, exchange, production, pricing, market structures, and welfare economics.

    440.601.53 - Microeconomic Theory

    $4160

    Frank Weiss

    Wednesday 6:00 - 8:30; 8/30 - 12/13

    Prerequisite: AS.440.304, Math Methods for Economists This course offers a systematic presentation of consumer theory, theory of the firm, and market equilibrium. Topics covered include constrained optimization, preferences and utility, exchange, production, pricing, market structures, and welfare economics.

    440.602.51 - Macroeconomic Theory

    $4160

    Andrew Gillen

    Monday 6:00 - 8:30; 8/28 - 12/11

    Prerequisite: AS.440.304, Math Methods for Economists This course provides a systematic overview of the theory of aggregate output and employment, the rate of interest, and price level determination. Coverage includes the theories of consumption and investment, the demand and supply of money, inflation, unemployment, and economic growth. These topics are discussed in the context of contemporary empirical work on aggregative relationships.

    440.602.52 - Macroeconomic Theory

    $4160

    Isabel Cairo Blanco

    Wednesday 6:00 - 8:30; 8/30 - 12/13

    Prerequisite: AS.440.304, Math Methods for Economists This course provides a systematic overview of the theory of aggregate output and employment, the rate of interest, and price level determination. Coverage includes the theories of consumption and investment, the demand and supply of money, inflation, unemployment, and economic growth. These topics are discussed in the context of contemporary empirical work on aggregative relationships.

    440.602.53 - Macroeconomic Theory

    $4160

    Tomaz Cajner

    Thursday 6:00 - 8:30; 8/31 - 12/14

    Prerequisite: AS.440.304, Math Methods for Economists This course provides a systematic overview of the theory of aggregate output and employment, the rate of interest, and price level determination. Coverage includes the theories of consumption and investment, the demand and supply of money, inflation, unemployment, and economic growth. These topics are discussed in the context of contemporary empirical work on aggregative relationships.

    440.605.51 - Statistics

    $4160

    Mina Kim

    Wednesday 6:00 - 8:30; 8/30 - 12/13

    This course provides a general survey of statistical methodology. Topics include probability and sampling, distribution theory, hypothesis testing, estimation (Maximum Likelihood and Method of Moments), and Analysis of Variance. It is also designed to provide the requisite background for 440.606 Econometrics. Prerequisite: a course in Calculus

    440.605.52 - Statistics

    $4160

    Ilya Rahkovsky

    Thursday 6:00 - 8:30; 8/31 - 12/14

    This course provides a general survey of statistical methodology. Topics include probability and sampling, distribution theory, hypothesis testing, estimation (Maximum Likelihood and Method of Moments), and Analysis of Variance. It is also designed to provide the requisite background for 440.606 Econometrics. Prerequisite: a course in Calculus

    440.606.51 - Econometrics

    $4160

    Alexandra Minicozzi

    Tuesday 6:00 - 8:30; 8/29 - 12/12

    This course focuses on the application of statistical methods to the testing and estimation of economic relationships. After developing the theoretical constructs of classical least squares, common problems encountered when applying this approach, including serial correlation, heteroscedasticity, and multicollinearity, are discussed. Techniques for dealing with these problems are then examined. Models with lagged variables are considered, as is estimation with instrumental variables and two-stage least squares. Prerequisites: 440.605 Statistics.

    440.606.52 - Econometrics

    $4160

    Matthew Rabbitt

    Thursday 6:00 - 8:30; 8/31 - 12/14

    This course focuses on the application of statistical methods to the testing and estimation of economic relationships. After developing the theoretical constructs of classical least squares, common problems encountered when applying this approach, including serial correlation, heteroscedasticity, and multicollinearity, are discussed. Techniques for dealing with these problems are then examined. Models with lagged variables are considered, as is estimation with instrumental variables and two-stage least squares. Prerequisites: 440.605 Statistics.

    440.614.51 - Macroeconometrics [Time-Series Analysis]

    $4160

    Phillip Li

    Monday 6:00 - 8:30; 8/28 - 12/11

    This course focuses on the practical uses of time-series econometrics in a macroeconomic context. The topics covered include autoregressive-moving average processes, non-stationary time series models, unit root tests, vector autoregression models, and cointegration analysis. Prerequisites: 440.602 Macroeconomic Theory and Policy; 440.606 Econometrics.

    440.614.52 - Macroeconometrics [Time-Series Analysis]

    $4160

    Ai Deng

    Wednesday 6:00 - 8:30; 8/30 - 12/13

    This course focuses on the practical uses of time-series econometrics in a macroeconomic context. The topics covered include autoregressive-moving average processes, non-stationary time series models, unit root tests, vector autoregression models, and cointegration analysis. Prerequisites: 440.602 Macroeconomic Theory and Policy; 440.606 Econometrics.

    440.616.51 - Bayesian Econometrics

    $4160

    Sang-Sub Lee

    Thursday 6:00 - 8:30; 8/31 - 12/14

    The main goal of this course is to provide the students the alternative viewpoint of the Bayesian approach vis-à-vis the classical econometric approach based on the frequentist perspective. The course will present the basic principles of Bayesian inference, Bayesian Analysis of the linear regression model and extensions of the regression model, and the numerical methods used for Bayesian implementation. Modern Bayesian econometrics relies heavily on numerical simulation methods and computational algorithms. With the advancement of computing power and the advent of new simulation methods, simulation based Bayesian methods have become increasingly popular in practice with a large and growing number of applications. A significant part of the course will be devoted to explaining and demonstrating how numerical Bayesian methods, particularly, Markov Chain Monte Carlo (MCMC) methods, such as the Gibbs sampling and the Metropolis-Hastings algorithm, can be applied to estimate various interesting models in economics and finance. Students will develop practical experience with posterior simulation through hands on computer exercises involving computer programming. Prerequisites: 440.601 Microeconomic Theory, 440.606 Econometrics.

    440.617.51 - Financial Econometrics [Time-Series Analysis]

    $4160

    Dror Kenett
    Ahmed Mahmud

    Monday 6:00 - 8:30; 8/28 - 12/11

    [formerly 440.647] This course introduces students to the methods most commonly used in empirical finance. Key models and methods are ARCH, GMM, Regime-Switching Models, test of CAPM (Capital Asset Pricing Model), term structure models, and volatility models (implied, stochastic volatility). Students will also learn aspects of time series econometrics for both stationary and non-stationary variables at different time frequencies, with emphasis on financial variables. Prerequisites: 440.601 Microeconomic Theory and Policy; 440.606 Econometrics; 440.614 Macroeconometrics is recommended..

    440.618.51 - Microeconometrics [Cross-Section and Panel Analysis]

    $4160

    Nadezha Karamcheva

    Tuesday 6:00 - 8:30; 8/29 - 12/12

    [formerly 440.648] This course covers a number of advanced techniques frequently encountered in applied microeconometric analysis. Topics include generalized method of moments estimation, nonlinear regression, estimation with panel data, systems of regression equations and simultaneous equation models, maximum likelihood estimation and likelihood ratio tests, and limited dependent variable analysis (i.e. Logit, Probit, Tobit, etc.). Prerequisites: 440.601 Microeconomic Theory and Policy; 440.606 Econometrics.

    440.618.52 - Microeconometrics [Cross-Section and Panel Analysis]

    $4160

    Christopher Adams

    Thursday 6:00 - 8:30; 8/31 - 12/14

    [formerly 440.648] This course covers a number of advanced techniques frequently encountered in applied microeconometric analysis. Topics include generalized method of moments estimation, nonlinear regression, estimation with panel data, systems of regression equations and simultaneous equation models, maximum likelihood estimation and likelihood ratio tests, and limited dependent variable analysis (i.e. Logit, Probit, Tobit, etc.). Prerequisites: 440.601 Microeconomic Theory and Policy; 440.606 Econometrics.

    440.622.51 - Cost-Benefit Analysis

    $4160

    Paul Dockins
    Charles Griffiths

    Wednesday 6:00 - 8:30; 8/30 - 12/13

    [formerly 440.632] The objective of this course is to develop and apply an analytical framework for evaluating projects with an emphasis on publicly funded projects. Coverage includes the evaluation of benefits and costs over time, including in the presence of uncertainty, in the absence of market prices, and when income distribution objectives need to be incorporated into a project's evaluation. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    440.629.51 - Survey Research Methods

    $4160

    Michael Horrigan

    Thursday 6:00 - 8:30; 8/31 - 12/14

    This course introduces students to the theory and practice of conducting surveys. Survey methods combines both social science—economics, sociology, and psychology—and quantitative methods—mathematics, statistics, and computer science—to develop a theory of how surveys can best be used to measure important aspects of the human condition. Key topics include sample design, weighting, data collection modes, administrative operations, questionnaire design, nonresponse, and estimation in surveys. Prerequisites: 440.601 Microeconomic Theory, 440.605 Statistics. Corequisite: 440.606 Econometrics.

    440.632.51 - Topics in Macroeconomics and Finance

    $4160

    David Arseneau

    Monday 6:00 - 8:30; 8/28 - 12/11

    [This course aims to develop a better understanding of the linkages between the banking system and the broader macroeconomy. Particular attention will be paid to the role of banks and the banking system in propagating and perpetuating the recent financial crisis. Specific topics include the functioning of the banking system in a basic general equilibrium macro model, the Diamond-Dybvig model of bank runs; an empirical look into the economic cost of banking crises, central bank intervention in the face of a banking failure, the link between sovereign debt and the banking system, and the European debt crisis and the response of the ECB. Prerequisites: 440.601 Microeconomic Theory, 440.602 Macroeconomic Theory. Corequisites: 440.606 Econometrics; 440.640 Financial Economics

    440.640.51 - Financial Economics

    $4160

    Benjamin Kay

    Wednesday 6:00 - 8:30; 8/30 - 12/13

    [formerly 440.642] Finance treats the transfer of resources across time and the transfer of risk among economic entities. The aim of this course is to develop the microeconomic theory relevant to these types of transactions. A set of underlying economic principles is applied to the determination of the value of basic financial instruments such as stocks and bonds, as well as to more complicated derivative securities, such as futures and options. Valuation concepts, in turn, allow for the analysis of various issues of interest to policy makers as well as portfolio managers and investors, such as the term structure of interest rates, portfolio theory, the capital structure of the firm, and risk management. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    440.643.51 - Economics of Investments and Financial Management

    $4160

    Cindy Vojtech

    Tuesday 6:00 - 8:30; 8/29 - 12/12

    This course develops a deeper understanding of financial markets in the context of portfolio theory. In addition to understanding how financial markets operate and relate to the broader economy, students will develop skills to analyze investment decisions and manage investment portfolios. Students will learn the efficient market hypothesis (EMH), criticisms and implications of EMH for investment strategies, modern portfolio theory and practice, and tools for evaluating performance. Throughout the course, several financial models will be analyzed especially as they relate to real-world asset allocation decisions. Prerequisite: 440.601 Microeconomic Theory. Corequisites: 440.606 Econometrics and 440.640 Financial Economics.

    440.646.51 - Economics of Derivatives

    $4160

    Kenneth Danger

    Wednesday 6:00 - 8:30; 8/30 - 12/13

    This course provides students a thorough introduction to the theoretical and practical aspects of forwards, futures, options, and swaps. Derivatives are important tools in financial markets, and students will learn how to price, value, and use them from a practical perspective. This course is particularly important for students seeking to work in finance. Topics covered include no arbitrage-based pricing, the pricing of forwards and futures, interest rate products and commodities, valuation based on market prices, and option pricing and strategies. Prerequisite: 440.601 Microeconomic Theory. Corequisites: 440.606 Econometrics and 440.640 Financial Economics.

    440.656.51 - Political Economy

    $4160

    Ahmed Mahmud

    Monday 6:00 - 8:30; 8/28 - 12/11

    [formerly 440.616] This course examines how rational choice methodology (including Game Theory and Neoclassical Economics) can be applied to analyze issues related to political economy. Topics include the origin of state, economic origins of political regimes, different models of voting and their outcomes and different aspects of federalism. This course also explores how political economy influences economic development and public debt. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    440.665.51 - International Trade (Open Economy Micro)

    $4160

    Frank Weiss

    Tuesday 6:00 - 8:30; 8/29 - 12/12

    The first part of the course examines the causes of trade, the sources of the gains from trade, and the domestic and international distribution of those gains. In addition, it introduces the politico-economic causes of trade policy and addresses the theory and empirics of trade and growth. The second part examines in detail the instruments and consequences of trade policy, namely tariffs and quantitative restrictions, and their modern manifestation as anti-dumping and safeguard measures. The causes and consequences of trade policy, too, are linked to contemporary empirical evidence. Prerequisites: 440.601 Microeconomic Theory and Policy; 440.602 Macroeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    440.692.51 - Thesis

    $4160

    -STAFF-
    Frank Weiss

    Saturday 12:00 - 12:01; 9/2 - 12/16

    Students may undertake their own research project as an 11th program course for three additional credits at full tuition. Prior to proposing a project, interested students must have clearly identified a research topic, and submit a formal proposal for review and approval to the Thesis Research Committee, to be received no later than one month prior to the beginning of the term in which the student plans to enroll in the course. The committee will help identify a mentor who is familiar with their prospective inquiry, and is willing to provide guidance and oversee the project, but the availability of a mentor cannot be guaranteed.. The mentor must be faculty teaching at the Johns Hopkins University. Students must meet with the mentor periodically for discussion of the project’s progress, and must complete a research paper, to be approved by the mentor and the Committee. The best papers will be made available to the public on Hopkins” electronic research repository JScholarship. Enrollment of the student is undertaken by the Program Director. Candidates must plan on using two semesters to successfully complete Thesis. Prerequisites: All four Core courses and Microeconometrics or Macroeconometrics, and one or more Applied Economics courses in the substantive area of the proposed research, plus a strong academic record (at least B+ average) in at least eight program courses, are absolute minima. Applied Economics Thesis Guidelines 2017 PDF: http://advanced.jhu.edu/wp-content/uploads/2017/09/appliedEconomics_ThesisGuidelines2017.pdf

    An 11th program course. Admission by application and selection.

    440.888.51 - Continuation (Applied Economics)

    $500

    -STAFF-
    Frank Weiss

    Sunday 12:00 - 12:01; 8/28 - 12/16

    [formerly 440.656] Students not finishing their paper during the term in which they enroll must register for Continuation in every ensuing semester (including Summer) until their papers are accepted, but Continuation does not count as a separate course. Such students must pay a continuation-of-enrollment fee of $500 for each subsequent term until a final grade has been submitted. In Applied Economics, taking Continuation once may be considered the norm. Prerequisite: 440.692 Thesis

  • Online Courses

    440.304.81 - Math Methods for Economists

    $4160

    James Outen

    Online 8/28 - 12/16

    This is a three undergraduate credit, full-length course at half tuition, required of those students who have had only a single course in Calculus. It covers those parts of Integral Calculus, Multivariable Calculus, Optimization Theory, and Linear Algebra, which are necessary to pursue economics. For those required to take Math Methods, the course is treated academically as part of the Core. Thus, all rules applying to the Core apply to Math Methods. Prerequisite: A course in Calculus.

    Technology Fee: $175.00

    440.304.82 - Math Methods for Economists

    $4160

    Kenneth Danger

    Online 8/28 - 12/16

    This is a three undergraduate credit, full-length course at half tuition, required of those students who have had only a single course in Calculus. It covers those parts of Integral Calculus, Multivariable Calculus, Optimization Theory, and Linear Algebra, which are necessary to pursue economics. For those required to take Math Methods, the course is treated academically as part of the Core. Thus, all rules applying to the Core apply to Math Methods. Prerequisite: A course in Calculus.

    Technology Fee: $175.00

    440.304.83 - Math Methods for Economists

    $4160

    James Outen

    Online 8/28 - 12/16

    This is a three undergraduate credit, full-length course at half tuition, required of those students who have had only a single course in Calculus. It covers those parts of Integral Calculus, Multivariable Calculus, Optimization Theory, and Linear Algebra, which are necessary to pursue economics. For those required to take Math Methods, the course is treated academically as part of the Core. Thus, all rules applying to the Core apply to Math Methods. Prerequisite: A course in Calculus.

    Technology Fee: $175.00

    440.601.81 - Microeconomic Theory

    $4160

    Ahmed Mahmud

    Online 8/28 - 12/16

    Prerequisite: AS.440.304, Math Methods for Economists This course offers a systematic presentation of consumer theory, theory of the firm, and market equilibrium. Topics covered include constrained optimization, preferences and utility, exchange, production, pricing, market structures, and welfare economics.

    Technology Fee: $175.00

    440.601.82 - Microeconomic Theory

    $4160

    Genevieve Briand

    Online 8/28 - 12/16

    Prerequisite: AS.440.304, Math Methods for Economists This course offers a systematic presentation of consumer theory, theory of the firm, and market equilibrium. Topics covered include constrained optimization, preferences and utility, exchange, production, pricing, market structures, and welfare economics.

    Technology Fee: $175.00

    440.601.83 - Microeconomic Theory

    $4160

    Oleg Kucher

    Online 8/28 - 12/16

    Prerequisite: AS.440.304, Math Methods for Economists This course offers a systematic presentation of consumer theory, theory of the firm, and market equilibrium. Topics covered include constrained optimization, preferences and utility, exchange, production, pricing, market structures, and welfare economics.

    Technology Fee: $175.00

    440.602.81 - Macroeconomic Theory

    $4160

    Jonathan Veum

    Online 8/28 - 12/16

    Prerequisite: AS.440.304, Math Methods for Economists This course provides a systematic overview of the theory of aggregate output and employment, the rate of interest, and price level determination. Coverage includes the theories of consumption and investment, the demand and supply of money, inflation, unemployment, and economic growth. These topics are discussed in the context of contemporary empirical work on aggregative relationships.

    Technology Fee: $175.00

    440.602.82 - Macroeconomic Theory

    $4160

    Sanjay Chugh

    Online 8/28 - 12/16

    Prerequisite: AS.440.304, Math Methods for Economists This course provides a systematic overview of the theory of aggregate output and employment, the rate of interest, and price level determination. Coverage includes the theories of consumption and investment, the demand and supply of money, inflation, unemployment, and economic growth. These topics are discussed in the context of contemporary empirical work on aggregative relationships.

    Technology Fee: $175.00

    440.602.83 - Macroeconomic Theory

    $4160

    Robert Kurtzman

    Online 8/28 - 12/16

    Prerequisite: AS.440.304, Math Methods for Economists This course provides a systematic overview of the theory of aggregate output and employment, the rate of interest, and price level determination. Coverage includes the theories of consumption and investment, the demand and supply of money, inflation, unemployment, and economic growth. These topics are discussed in the context of contemporary empirical work on aggregative relationships.

    Technology Fee: $175.00

    440.605.81 - Statistics

    $4160

    Genevieve Briand

    Online 8/28 - 12/16

    This course provides a general survey of statistical methodology. Topics include probability and sampling, distribution theory, hypothesis testing, estimation (Maximum Likelihood and Method of Moments), and Analysis of Variance. It is also designed to provide the requisite background for 440.606 Econometrics. Prerequisite: a course in Calculus

    Technology Fee: $175.00

    440.605.82 - Statistics

    $4160

    Genevieve Briand

    Online 8/28 - 12/16

    This course provides a general survey of statistical methodology. Topics include probability and sampling, distribution theory, hypothesis testing, estimation (Maximum Likelihood and Method of Moments), and Analysis of Variance. It is also designed to provide the requisite background for 440.606 Econometrics. Prerequisite: a course in Calculus

    Technology Fee: $175.00

    440.606.81 - Econometrics

    $4160

    Genevieve Briand

    Online 8/28 - 12/16

    This course focuses on the application of statistical methods to the testing and estimation of economic relationships. After developing the theoretical constructs of classical least squares, common problems encountered when applying this approach, including serial correlation, heteroscedasticity, and multicollinearity, are discussed. Techniques for dealing with these problems are then examined. Models with lagged variables are considered, as is estimation with instrumental variables and two-stage least squares. Prerequisites: 440.605 Statistics.

    Technology Fee: $175.00

    440.606.82 - Econometrics

    $4160

    Utpal Vasavada

    Online 8/28 - 12/16

    This course focuses on the application of statistical methods to the testing and estimation of economic relationships. After developing the theoretical constructs of classical least squares, common problems encountered when applying this approach, including serial correlation, heteroscedasticity, and multicollinearity, are discussed. Techniques for dealing with these problems are then examined. Models with lagged variables are considered, as is estimation with instrumental variables and two-stage least squares. Prerequisites: 440.605 Statistics.

    Technology Fee: $175.00

    440.614.81 - Macroeconometrics [Time-Series Analysis]

    $4160

    Allan Brunner

    Online 8/28 - 12/16

    This course focuses on the practical uses of time-series econometrics in a macroeconomic context. The topics covered include autoregressive-moving average processes, non-stationary time series models, unit root tests, vector autoregression models, and cointegration analysis. Prerequisites: 440.602 Macroeconomic Theory and Policy; 440.606 Econometrics.

    Technology Fee: $175.00

    440.614.82 - Macroeconometrics [Time-Series Analysis]

    $4160

    Brendan Epstein

    Online 8/28 - 12/16

    This course focuses on the practical uses of time-series econometrics in a macroeconomic context. The topics covered include autoregressive-moving average processes, non-stationary time series models, unit root tests, vector autoregression models, and cointegration analysis. Prerequisites: 440.602 Macroeconomic Theory and Policy; 440.606 Econometrics.

    Technology Fee: $175.00

    440.615.81 - Macroeconomic Forecasting [Time Series Analysis]

    $4160

    John Schindler

    Online 8/28 - 12/16

    This course examines econometric approaches to forecasting macroeconomic activity. The approaches covered span single equation time series to large, complex, simultaneous equations systems. Different measures to assess the forecasting accuracy of these approaches are addressed. A discussion of these approaches and their relevance for policy recommendations is also covered. Prerequisites: 440.602 Macroeconomic Theory and Policy; 440.606 Econometrics.

    Technology Fee: $175.00

    440.618.81 - Microeconometrics [Cross-Section and Panel Analysis]

    $4160

    Nathan Goldstein

    Online 8/28 - 12/16

    [formerly 440.648] This course covers a number of advanced techniques frequently encountered in applied microeconometric analysis. Topics include generalized method of moments estimation, nonlinear regression, estimation with panel data, systems of regression equations and simultaneous equation models, maximum likelihood estimation and likelihood ratio tests, and limited dependent variable analysis (i.e. Logit, Probit, Tobit, etc.). Prerequisites: 440.601 Microeconomic Theory and Policy; 440.606 Econometrics.

    Technology Fee: $175.00

    440.622.81 - Cost-Benefit Analysis

    $4160

    Paul Dockins
    Charles Griffiths

    Online 8/28 - 12/16

    [formerly 440.632] The objective of this course is to develop and apply an analytical framework for evaluating projects with an emphasis on publicly funded projects. Coverage includes the evaluation of benefits and costs over time, including in the presence of uncertainty, in the absence of market prices, and when income distribution objectives need to be incorporated into a project's evaluation. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fee: $175.00

    440.624.81 - Computable General Equilibrium Modeling

    $4160

    Sameer Rege

    Online 8/28 - 12/16

    This course will provide an understanding of how to independently develop, modify, run and interpret Computable General Equilibrium (CGE) models. CGE models are widely used in the analysis of International Trade, Taxation, Environmental Policy, and other subjects. The specific objectives of this course are as follows: Students will (1) gain an understanding of the underlying economic theory behind CGE modeling; (2) learn how to gather data sources from publicly available information to build CGE models; (3) gain an understanding of the software General Algebraic Modeling Software (GAMS) to run the models; (4) learn how use and modify existing CGE programs for research purposes; (5) be able to write simple CGE programs in GAMS; (6) be able to analyze public policy with CGE models; (7) how to interpret results from CGE models; (8) understand possible extensions of CGE models for potential future research purposes. Analytical skills developed through this class will assist you in building your careers as researchers, public managers, and policy analysts. Prerequisites: 440.601 Microeconomic Theory, 440.602 Macroeconomics Theory. Corequisite: 440.606 Econometrics.

    Technology Fee: $175.00

    440.639.81 - International Finance (Open Economy Macro)

    $4160

    Brendan Epstein

    Online 8/28 - 12/16

    [formerly 440.619] This course provides an overview of open economy macroeconomics, and international financial markets and policies. The focus is on exchange rate determination, the importance of the balance of payments for both the domestic economy and the economies of other countries, international capital flows, the impact of internal debt on the balance of trade, and the interaction and potential conflicts between domestic and international economic policy objectives. Prerequisite: 440.602 Macroeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fee: $175.00

    440.640.81 - Financial Economics

    $4160

    Yongli Zhang

    Online 8/28 - 12/16

    [formerly 440.642] Finance treats the transfer of resources across time and the transfer of risk among economic entities. The aim of this course is to develop the microeconomic theory relevant to these types of transactions. A set of underlying economic principles is applied to the determination of the value of basic financial instruments such as stocks and bonds, as well as to more complicated derivative securities, such as futures and options. Valuation concepts, in turn, allow for the analysis of various issues of interest to policy makers as well as portfolio managers and investors, such as the term structure of interest rates, portfolio theory, the capital structure of the firm, and risk management. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fee: $175.00

    440.641.81 - Financial Intermediation & Financial Markets

    $4160

    Jonathan Veum

    Online 8/28 - 12/16

    [formerly 440.620] Examines why financial intermediaries exist, how they co-exist with financial markets, and how they have been forced to switch from accepting deposits and making loans to using derivatives to manage risk. Shows how risk management differs between bank-based and market-based economies. Analyzes the economic consequences of financial market imperfections, especially for credit market equilibrium and rationing. theories of bank runs and systemic risk; and how different financial systems and governments can cope with financial crises, financial fragility, and credit market frictions. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fee: $175.00

    440.641.82 - Financial Intermediation & Financial Markets

    $4160

    Jonathan Veum

    Online 8/28 - 12/16

    [formerly 440.620] Examines why financial intermediaries exist, how they co-exist with financial markets, and how they have been forced to switch from accepting deposits and making loans to using derivatives to manage risk. Shows how risk management differs between bank-based and market-based economies. Analyzes the economic consequences of financial market imperfections, especially for credit market equilibrium and rationing. theories of bank runs and systemic risk; and how different financial systems and governments can cope with financial crises, financial fragility, and credit market frictions. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fee: $175.00

    440.666.81 - Regional Economics

    $4160

    Sally Kwak

    Online 8/28 - 12/16

    Regional economics is a relatively new formal branch of economics which recognizes the crucial importance of geography in the workings of a market economy. By incorporating variables of space and geography into traditional economic models, it has great relevance to real world phenomena and policy questions. We examine the effects of market forces on spatial variables such as the location choices of households and firms; land use policy; labor market agglomeration; urban poverty; the development of transportation infrastructure; and urban and rural housing markets. The roles of natural resources, demographic base, location of industries, and factors determining regional growth and development will also be considered. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fee: $175.00

    440.666.82 - Regional Economics

    $4160

    Sally Kwak

    Online 8/28 - 12/16

    Regional economics is a relatively new formal branch of economics which recognizes the crucial importance of geography in the workings of a market economy. By incorporating variables of space and geography into traditional economic models, it has great relevance to real world phenomena and policy questions. We examine the effects of market forces on spatial variables such as the location choices of households and firms; land use policy; labor market agglomeration; urban poverty; the development of transportation infrastructure; and urban and rural housing markets. The roles of natural resources, demographic base, location of industries, and factors determining regional growth and development will also be considered. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.

    Technology Fee: $175.00