Economics (B.A.)

Introductory Courses

* ECON 108a or b, Quantitative Foundations of Microeconomics  Tolga Koker

Introductory microeconomics with a special emphasis on quantitative methods and examples. Intended for students with limited or no experience with calculus. Enrollment limited. Online preregistration is required; visit economics.yale.edu/undergraduate-program for more information. May not be taken after ECON 110 or 115.  QR, SO
HTBA

* ECON 110a or b, An Introduction to Microeconomic Analysis  Staff

Similar to ECON 115, but taught as a lecture discussion with limited enrollment. Enrollment limited to first-years and sophomores. Online preregistration is required; visit economics.yale.edu/undergraduate-program for more information. May not be taken after ECON 108 or 115.  QR, SO
HTBA

* ECON 111a or b, An Introduction to Macroeconomic Analysis  Staff

Similar to ECON 116, but taught as a lecture discussion with limited enrollment. Enrollment limited to first-years and sophomores. Online preregistration is required; visit economics.yale.edu/undergraduate-program for more information. May not be taken after ECON 116. Prerequisite: ECON 108, 110, or 115.  SO
HTBA

ECON 115a or b, Introductory Microeconomics  Staff

An introduction to the basic tools of microeconomics to provide a rigorous framework for understanding how individuals, firms, markets, and governments allocate scarce resources. The design and evaluation of public policy. May not be taken after ECON 108 or 110.  QR, SO
HTBA

ECON 116a or b, Introductory Macroeconomics  Staff

An introduction that stresses how the macroeconomy works, including the determination of output, unemployment, inflation, interest rates, and exchange rates. Economic theory is applied to current events. May not be taken after ECON 111. Prerequisite: ECON 108, 110, or 115.  SO
HTBA

ECON 117a or b, Introduction to Data Analysis and Econometrics  Staff

Introduction to data analysis from the beginning of the econometrics sequence; exposure to modern empirical economics; and development of credible economic analysis. This course emphasizes working directly and early with data, through such economic examples as studies of environmental/natural resource economics, intergenerational mobility, discrimination, and finance. Topics include: probability, statistics, and sampling; selection, causation and causal inference; regression and model specification; and machine learning and big data. Prerequisites: ECON 108, 110, 115, or equivalent and familiarity with single variable calculus. Students who have taken ECON 131 may not receive major credit for this course.  QR, SO
HTBA

ECON 121a or b, Intermediate Microeconomics  Staff

The theory of resource allocation and its applications. Topics include the theory of choice, consumer and firm behavior, production, price determination in different market structures, welfare, and market failure. After introductory microeconomics and completion of the mathematics requirement for the major or its equivalent. Elementary techniques from multivariate calculus are introduced and applied, but prior knowledge is not assumed. May not be taken after ECON 125.  QR, SO
HTBA

ECON 122a or b, Intermediate Macroeconomics  Staff

Contemporary theories of employment, finance, money, business fluctuations, and economic growth. Their implications for monetary and fiscal policy. Emphasis on empirical studies, financial and monetary crises, and recent policies and problems. Enrollment limited in the fall term. After two terms of introductory economics and completion of the mathematics requirement for the major or its equivalent. May not be taken after ECON 126.  QR, SO
HTBA

ECON 125a, Microeconomic Theory  Ryota Iijima

Similar to ECON 121 but with a more intensive treatment of consumer and producer theory, and covering additional topics including choice under uncertainty, game theory, contracting under hidden actions or hidden information, externalities and public goods, and general equilibrium theory. Recommended for students considering graduate study in economics. After introductory economics, and MATH 118 or 120 or equivalent. May not be taken after ECON 121.  QR, SO
MW 9am-10:15am

* ECON 126b, Macroeconomic Theory  Anthony Smith

Similar to ECON 122 but with a more intensive treatment of the mathematical foundations of macroeconomic modeling, and with rigorous study of additional topics. Recommended for students considering graduate study in economics. After two terms of introductory economics, and MATH 118 or 120 or equivalent. May not be taken after ECON 122.  QR, SO
MW 1pm-2:15pm

ECON 123a or b, Intermediate Data Analysis and Econometrics  Staff

Comprehensive and theoretical examination of econometrics, with further exploration of topics covered in ECON 117. A term research project addresses a research question chosen by the student, and involves the application of learned methods to a relevant data set. Prerequisites: ECON 108, 110, 115, or equivalent; ECON 117; and familiarity with single variable calculus.  QR, SO
HTBA

ECON 135a, Introduction to Probability and Statistics  Timothy Armstrong

Foundations of mathematical statistics: probability theory, distribution theory, parameter estimation, hypothesis testing, regression, and computer programming. Recommended for students considering graduate study in economics. Prerequisites: Introductory microeconomics and MATH 118 or MATH 120 and MATH 222; or MATH 120 and MATH 225.  QR, SO
TTh 1pm-2:15pm

ECON 136b, Econometrics  Yuichi Kitamura

Continuation of ECON 135 with a focus on econometric theory and practice: problems that arise from the specification, estimation, and interpretation of models of economic behavior. Topics include classical regression and simultaneous equations models; panel data; and limited dependent variables. Recommended for students considering graduate study in economics. Prerequisites: After ECON 135 or STAT 241 and 242. May not be taken concurrently with STAT 242.  QR, SO
TTh 2:30pm-3:45pm

ECON 159b, Game Theory  Marina Halac

An introduction to game theory and strategic thinking. Ideas such as dominance, backward induction, Nash equilibrium, evolutionary stability, commitment, credibility, asymmetric information, adverse selection, and signaling are applied to games played in class and to examples drawn from economics, politics, the movies, and elsewhere. After introductory microeconomics. No prior knowledge of game theory assumed.  QR, SO
TTh 9am-10:15am

ECON 170a, Health Economics and Public Policy  Howard Forman

Application of economic principles to the study of the U.S. health care system. Emphasis on basic principles about the structure of the U.S. system, current problems, proposed solutions, and the context of health policy making and politics. After introductory microeconomics.  SO
TTh 2:30pm-3:45pm

ECON 171b / AFAM 146b / EDST 271b, Urban Inequalities and Educational Inequality  Gerald Jaynes

Analysis of contemporary policy problems related to academic under performance in lower income urban schools and the concomitant achievement gaps among various racial and ethnic groups in United States K-12 education. Historical review of opportunity inequalities and policy solutions proposed to ameliorate differences in achievement and job readiness. Students benefit from practical experience and interdisciplinary methods, including a lab component with time spent in a New Haven high school. Prerequisites: Any course offered by Education Studies, or one course in history or any social science, either: Anthropology, Economics, Political Science, Psychology, Sociology. EDST 110 is preferred, although not required.  SO
TTh 10:30am-11:20am

ECON 182b / HIST 135b, American Economic History  Naomi Lamoreaux

The growth of the American economy since 1790, both as a unique historical record and as an illustration of factors in the process of economic development. The American experience viewed in the context of its European background and patterns of industrialization overseas. After introductory microeconomics.  WR, SO
MW 2:30pm-3:45pm

ECON 184b / GLBL 234b, International Economics  Peter Schott

Introduction to conceptual tools useful for understanding the strategic choices made by countries, firms, and unions in a globalized world. After two terms of introductory economics.  SO
MW 9am-10:15am

ECON 186a, European Economic History, 1700–1815  Timothy Guinnane

European economic growth and development from the late seventeenth century through the first stages of the British industrial revolution. The role of institutional development, trade and imperialism, agricultural improvements, and industrialization. Particular attention to comparisons between Britain and other parts of Europe. After ECON 115 or 121, and ECON 116 or 122.  SO
TTh 11:35am-12:50pm

ECON 251a, Financial Theory  John Geanakoplos

Study of the financial system as part of the global economy, rather than only the financial world. Topics include bond pricing, the capital asset pricing model, option pricing, the social security system, the mortgage market, hedge funds, collateral, default, and financial crises. Prerequisite: After introductory microeconomics.  QR, SO
MW 9am-10:15am

ECON 252b, Financial Markets  Robert Shiller

An overview of the ideas, methods, and institutions that permit human society to manage risks and foster enterprise. Description of practices today and analysis of prospects for the future. Introduction to risk management and behavioral finance principles to understand the functioning of securities, insurance, and banking industries. After two terms of introductory economics.  SO
MW 11:35am-12:50pm

ECON 301b, International Trade: Data and Analysis  Guillermo Noguera

The goal of this course is to provide students with rigorous theoretical and empirical tools to analyze questions of current interest in international trade. The emphasis is on applying economic concepts to international trade data, using both computable economic models and empirical regression methods. This course is primarily intended for junior and senior economics majors. Students benefit from having a background in MATH 118 or MATH 120, statistics/econometrics, and intermediate microeconomics. If you do not satisfy these requisites, instructor’s approval is necessary.  SO
MW 1pm-2:15pm

ECON 325b / EP&E 321b / SAST 281b, Economics of Developing Countries: Focus on South Asia  Zachary Barnett-Howell

Analysis of current problems of developing countries. Emphasis on the role of economic theory in informing public policies to achieve improvements in poverty and inequality, and on empirical analysis to understand markets and responses to poverty. Topics include microfinance, education, health, agriculture, intrahousehold allocations, gender, and corruption. Prerequisites: introductory microeconomics and introductory econometrics.  SO
MW 2:30pm-3:45pm

* ECON 331a, The Economics of Energy and Climate Change  William Nordhaus

The essentials of energy and environmental economics, with applications. Analysis of core topics in public goods, intertemporal choice, uncertainty, decision theory, and exhaustible resources. Applications include energy security, nuclear power, the relationship between nuclear power and nuclear proliferation, and climate change. Enrollment limited. Prerequisite: two terms of introductory economics.  SO
MW 11:35am-12:50pm

ECON 335a, Growth and Macroeconomics  Fabrizio Zilibotti

The course provides a rigorous framework for understanding the process of economic growth. The main focus of the course is on the factors sustaining long-run growth. We emphasize the role of governments and institutional factors. The final part of the course explores the demand side of the economy and short-run equilibrium phenomena such as monetary policy, financial factors, stabilization policy, and financial crises. Introductory Macroeconomics, Intermediate Macroeconomics  SO
MW 9am-10:15am

ECON 338a / EAST 338a / GLBL 318a, The Next China  Stephen Roach

Economic development in China since the late 1970s. Emphasis on factors pushing China toward a transition from its modern export- and investment-led development model to a pro-consumption model. The possibility of a resulting identity crisis, underscored by China's need to embrace political reform and by the West's long-standing misperceptions of China. Prerequisite: introductory macroeconomics.  SO
MW 10:30am-11:20am

ECON 339b, Advance Competition Economics and Policy  Fiona Scott Morton

Limits that antitrust laws, as applied and interpreted by agencies, courts, and competitors, place on firm behavior. Economic theories underlying antitrust enforcement. Whether legal rules restricting competitive behavior increase social welfare and how they affect managerial choices. The evidence and reasoning advanced in key antitrust cases; how outcomes may affect social welfare and firm strategies. Goals and procedures of US and EU antitrust agencies.  SO
HTBA

ECON 350a, Mathematical Economics: General Equilibrium Theory  Eduardo Davila

An introduction to general equilibrium theory and its extension to equilibria involving uncertainty and time. Discussion of the economic role of insurance and of intertemporal models, namely, the overlapping generations model and the optimal growth theory model. Recommended for students considering graduate study in economics. After MATH 118 or 120, and intermediate microeconomics.  QR, SO
TTh 1pm-2:15pm

ECON 351b, Mathematical Economics: Game Theory  Philipp Strack

Introduction to game theory and choice under uncertainty. Analysis of the role of information and uncertainty for individual choice behavior, as well as application to the decision theory under uncertainty. Analysis of strategic interaction among economic agents, leading to the theory of auctions and mechanism design. Recommended for students considering graduate study in economics. After MATH 118, 120, and intermediate microeconomics.  QR, SO
TTh 1pm-2:15pm

ECON 361a, Corporate Finance  Heather Tookes

Financial management from inside the corporation or operating entity. Topics include capital budgeting and valuation, optimal capital structure, initial public offerings, mergers, and corporate restructuring. Cases and problem sets provide applications. Prerequisites: intermediate microeconomics and econometrics.
HTBA

* ECON 363a, Global Financial Crisis  Andrew Metrick and Timothy Geithner

Comprehensive survey of the causes, events, policy responses, and aftermath of the recent global financial crisis. Study of the dynamics of financial crises in a modern economy. Prerequisite: Successful completion of a course in introductory economics.  SO
HTBA

ECON 365b / CPSC 365b, Algorithms  James Glenn

Paradigms for algorithmic problem solving: greedy algorithms, divide and conquer, dynamic programming, and network flow. NP completeness and approximation algorithms for NP-complete problems. Algorithms for problems from economics, scheduling, network design and navigation, geometry, biology, and optimization. Provides algorithmic background essential to further study of computer science. Either CPSC 365 or CPSC 366 may be taken for credit. Prerequisites: CPSC 202 and 223.  QR
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* ECON 366b / CPSC 366b, Intensive Algorithms  Yang Cai

Mathematically sophisticated treatment of the design and analysis of algorithms and the theory of NP completeness. Algorithmic paradigms including greedy algorithms, divide and conquer, dynamic programming, network flow, approximation algorithms, and randomized algorithms. Problems drawn from the social sciences, Data Science, Computer Science, and engineering. For students with a flair for proofs and problem solving. Either CPSC 365 or CPSC 366 may be taken for credit. Prerequisites: MATH 244 and CPSC 223.  QR
HTBA

Senior Economics majors may preregister for advanced lecture courses; see the departmental website for instructions. Other interested students may enroll with permission of the instructor during the course selection period.

* ECON 407a / GLBL 310a, International Finance  Ana Fieler

. A study of how consumers and firms are affected by the globalization of the world economy