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Course 14: Economics
Fall 2024


National Income and Finance

14.41 Public Finance and Public Policy
______

Undergrad (Fall) HASS Social Sciences
(Subject meets with 14.410)
Prereq: 14.01
Units: 4-0-8
Add to schedule Lecture: MW2.30-4 (32-124) Recitation: F12 (E52-164)
______
Explores the role of government in the economy, applying tools of basic microeconomics to answer important policy questions such as government response to global warming, school choice by K-12 students, Social Security versus private retirement savings accounts, government versus private health insurance, setting income tax rates for individuals and corporations. Students taking the graduate version complete additional assignments.
J. Gruber
No textbook information available

14.410 Public Finance and Public Policy
______

Graduate (Fall)
(Subject meets with 14.41)
Prereq: 14.01
Units: 4-0-8
Add to schedule Lecture: MW2.30-4 (32-124) Recitation: F12 (E52-164)
______
Explores the role of government in the economy, applying tools of basic microeconomics to answer important policy questions such as government response to global warming, school choice by K-12 students, Social Security versus private retirement savings accounts, government versus private health insurance, setting income tax rates for individuals and corporations. Students taking the graduate version complete additional assignments.
J. Gruber
No textbook information available

14.416[J] Asset Pricing
______

Graduate (Fall)
(Same subject as 15.470[J])
Prereq: None
Units: 4-0-8
Add to schedule Lecture: MW4-5.30 (E62-650) Recitation: F11 (E62-350) +final
______
Provides a foundation in the neoclassical theory of finance that underlies more advanced study. Covers arbitrage asset pricing, optimal consumption-portfolio choices, neo-classic theory of corporate finance, static equilibrium models of asset pricing, asymmetric information, and dynamic modeling. Prepares students for further study of asset pricing theories, corporate finance and econometric work in finance. Primarily for doctoral students in finance, economics, and accounting.
L. Schmidt
No textbook information available

14.42 Environmental Policy and Economics
______

Undergrad (Spring) HASS Social Sciences
Not offered regularly; consult department
(Subject meets with 14.420)
Prereq: 14.01
Units: 4-0-8
______
Introduces key concepts and recent advances in environmental economics, and explores their application to environmental policy questions. Topics include market efficiency and market failure, methods for valuing the benefits of environmental quality, the proper role of government in the regulation of the environment, environmental policy design, and implementation challenges. Considers international aspects of environmental policy as well, including the economics of climate change, trade and the environment, and environmental challenges in developing countries. Students taking graduate version complete additional assignments.
Consult Department Headquarters

14.420 Environmental Policy and Economics
______

Graduate (Spring)
Not offered regularly; consult department
(Subject meets with 14.42)
Prereq: 14.01
Units: 4-0-8
______
Introduces students to key concepts and recent advances in environmental economics, and explores their application to environmental policy questions. Topics include market efficiency and market failure, methods for valuing the benefits of environmental quality, the proper role of government in the regulation of the environment, environmental policy design and implementation challenges. Also considers international aspects of environmental policy including the economics of climate change, trade and the environment and environmental challenges in developing countries. Students taking graduate version complete additional assignments.
Consult Department Headquarters

14.43[J] Economics of Energy, Innovation, and Sustainability
______

Undergrad (Fall) HASS Social Sciences
Not offered regularly; consult department
(Same subject as 15.0201[J])
Prereq: 14.01 or 15.0111
Units: 3-0-9
Credit cannot also be received for 15.020
______
Covers energy and environmental market organization and regulation. Explores economic challenges and solutions to transforming energy markets to be more efficient, accessible, affordable, and sustainable. Applies core economic concepts - consumer choice, firm profit maximization, and strategic behavior - to understand when energy and environmental markets work well and when they fail. They also conduct data-driven economic analysis on the trade-offs of real and proposed policy interventions. Topics include renewable generation sources for electricity, energy access in emerging markets, efficiency programs and fuel efficiency standards, transitioning transportation to alternative fuels, measuring damages and adaptation to climate change, and the effect of energy and environmental policy on innovation. Expectations and evaluation criteria differ for students taking graduate version; consult syllabus or instructor for specific details.
Staff

14.44[J] Energy Economics and Policy
______

Undergrad (Spring) HASS Social Sciences
(Same subject as 15.037[J])
Prereq: 14.01 or 15.0111
Units: 4-0-8
Credit cannot also be received for 14.444, 15.038
______
Analyzes business and public policy issues in energy markets and in the environmental markets to which they are closely tied. Examines the economic determinants of industry structure and evolution of competition among firms in these industries. Investigates successful and unsuccessful strategies for entering new markets and competing in existing markets. Industries studied include oil, natural gas, coal, electricity, and transportation. Topics include climate change and environmental policy, the role of speculation in energy markets, the political economy of energy policies, and market power and antitrust. Two team-based simulation games, representing the world oil market and a deregulated electricity market, act to cement the concepts covered in lecture. Students taking graduate version complete additional assignments. Limited to 60.
C. Knittel

14.440[J] Advanced Corporate Finance
______

Graduate (Spring)
(Same subject as 15.473[J])
Prereq: None
Units: 3-0-9
______
This course builds on 15.471 and considers further topics that are at the frontier of corporate finance research. Topics covered include: structural estimation of corporate finance models, financial intermediation, corporate taxation, aggregate effects of financing frictions, corporate finance with irrational managers or irrational investors and entrepreneurial finance (young firm dynamics, venture capital and private equity). Primarily for doctoral students in finance, economics, and accounting.
T. Choukhmane, C. Palmer, A. Schoar, D. Thesmar, E. Verner

14.441[J] Corporate Finance
______

Graduate (Spring)
(Same subject as 15.471[J])
Prereq: None
Units: 3-0-9
______
Provides an introduction to the basic theoretical and empirical contributions in corporate finance. Exposes students to the key methodological tools in modern corporate finance. Covers capital structure, corporate governance, agency problems, incomplete financial contracting, the market for corporate control, product market corporate finance interactions, corporate reorganization and bankruptcy, banking, and other selected topics. Primarily for doctoral students in finance, economics, and accounting.
M. Farboodi, A. Schoar, E. Morellec

14.442[J] Advanced Asset Pricing
______

Graduate (Fall)
(Same subject as 15.472[J])
Prereq: None
Units: 3-0-9
Add to schedule Lecture: TR9-10.30 (E62-687) Recitation: M EVE (6-7.30 PM) (E51-376)
______
Focuses on solving, estimating, and empirically evaluating theoretical models of asset prices and financial markets, as well as their microeconomic foundations and macroeconomic implications. Discusses theory and econometric methods, the state of the literature, and recent developments and empirical evidence. Covers topics such as cross-sectional and time-series models, consumption-based and intermediary-based models, financial institutions, household finance, housing, behavioral finance, financial crises, and continuous-time tools and applications. Students complete a short term paper and a presentation. Primarily for doctoral students in finance, economics, and accounting.
L. Kogan
No textbook information available

14.444[J] Energy Economics and Policy
______

Graduate (Spring)
(Same subject as 15.038[J])
Prereq: 14.01 or 15.0111
Units: 4-0-8
Credit cannot also be received for 14.44, 15.037
______
Analyzes business and public policy issues in energy markets and in the environmental markets to which they are closely tied. Examines the economic determinants of industry structure and evolution of competition among firms in these industries. Investigates successful and unsuccessful strategies for entering new markets and competing in existing markets. Industries studied include oil, natural gas, coal, electricity, and transportation. Topics include climate change and environmental policy, the role of speculation in energy markets, the political economy of energy policies, and market power and antitrust. Two team-based simulation games, representing the world oil market and a deregulated electricity market, act to cement the concepts covered in lecture. Students taking graduate version complete additional assignments. Limited to 60.
C. Knittel

14.448[J] Current Topics in Finance
______

Graduate (Spring) Can be repeated for credit
(Same subject as 15.474[J])
Prereq: None
Units: 3-0-9 [P/D/F]
______
Faculty present their current research in a wide variety of topics in finance. Provides a rapid overview of the literature, an in-depth presentation of selected contributions, and a list of potential research ideas for each topic. Faculty rotate every year to cover new topics. Primarily for doctoral students in accounting, economics, and finance.
Consult: J. Alton

14.449[J] Current Research in Financial Economics
______

Graduate (Fall, IAP, Spring, Summer) Can be repeated for credit
(Same subject as 15.475[J])
Prereq: Permission of instructor
Units: 3-0-3 [P/D/F]
Add to schedule Lecture: T12 (E62-687)
______
Advanced seminar intended for PhD students interested in finance. Topics and papers vary by term, following the latest research in academia and in correlation with the weekly finance faculty research seminar. Each week, students will critically review the contributions, method of analysis, and presentation of evidence of existing research; one session is devoted to preparing for the finance seminar, while the other session discusses further work on the same topic. Restricted to doctoral students.
Fall: Consult: J. Alton
Spring: Consult: J. Alton
Summer: Consult J. Alton
No textbook information available (Summer 2024); No required or recommended textbooks (Fall 2024)

14.451 Dynamic Optimization Methods with Applications
______

Graduate (Fall); first half of term
Prereq: 14.06 and permission of instructor
Units: 3-0-3
Add to schedule Ends Oct 18. Lecture: TR1-2.30 (E51-151) Recitation: F2.30-4 (E51-151)
______
Provides an introduction to dynamic optimization methods, including discrete-time dynamic programming in non-stochastic and stochastic environments, and continuous time methods including the Pontryagin maximum principle. Applications may include the Ramsey model, irreversible investment models, and consumption choices under uncertainty. Enrollment limited.
Consult Department Headquarters
No textbook information available

14.452 Economic Growth
______

Graduate (Fall); second half of term
Prereq: 14.451 and permission of instructor
Units: 3-0-3
Add to schedule Begins Oct 21. Lecture: TR1-2.30 (E51-151) Recitation: F2.30-4 (E51-151) +final
______
Introduces the sources and modeling of economic growth and income differences across nations. Topics include an introduction to dynamic general equilibrium theory, the neoclassical growth model, overlapping generations, determinants of technological progress, endogenous growth models, measurement of technological progress, the role of human capital in economic growth, and growth in a global economy. Enrollment limited.
K. Acemoglu
No textbook information available

14.453 Economic Fluctuations
______

Graduate (Spring); first half of term
Prereq: 14.452 and permission of instructor
Units: 3-0-3
______
Investigation of why aggregate economic activity fluctuates, and the role of policy in affecting fluctuations. Topics include the link between monetary policy and output, the economic cost of aggregate fluctuations, the costs and benefits of price stability, and the role of central banks. Introduction to real business cycle and new Keynesian models. Enrollment limited.
M. Beraja

14.454 Economic Crises
______

Graduate (Spring); second half of term
Prereq: 14.453 and permission of instructor
Units: 3-0-3
______
Provides an overview of models of the business cycle caused by financial markets' frictions and shocks. Topics include credit crunch, collateral shocks, bank runs, contagion, speculative bubbles, credit booms, leverage, safe asset shortages, capital flows and sudden stops. Enrollment limited.
R. Caballero

14.461 Advanced Macroeconomics I
______

Graduate (Fall)
Prereq: 14.122 and 14.452
Units: 5-0-7
Add to schedule Lecture: MW10.30-12 (E52-432) Recitation: F1-2.30 (E51-372)
______
Advanced subject in macroeconomics that seeks to bring students to the research frontier. Topics vary from year to year, covering a wide spectrum of classical and recent research. Topics may include business cycles, optimal monetary and tax policy, monetary economics, banking, and financial constraints on investment and incomplete markets.
M. Beraja, C. Wolf
No textbook information available

14.462 Advanced Macroeconomics II
______

Graduate (Spring)
Prereq: 14.461
Units: 5-0-7
______
Topics vary from year to year. Often includes coordination failures; frictions in beliefs, such as rational inattention, higher-order uncertainty, certain forms of bounded rationality, heterogeneous beliefs, and ambiguity; implications for business cycles, asset markets, and policy; financial frictions and obstacles to trade; intermediation; liquidity; safe assets; global imbalances; financial crises; and speculation.
R. Caballero, I. Werning

14.47[J] Global Energy: Politics, Markets, and Policy
______

Undergrad (Spring) HASS Social Sciences
Not offered regularly; consult department
(Same subject as 11.167[J], 15.2191[J], 17.399[J])
Prereq: None
Units: 3-0-9
Credit cannot also be received for 11.267, 15.219
______
Focuses on the ways economics and politics influence the fate of energy technologies, business models, and policies around the world. Extends fundamental concepts in the social sciences to case studies and simulations that illustrate how corporate, government, and individual decisions shape energy and environmental outcomes. In a final project, students apply the concepts in order to assess the prospects for an energy innovation to scale and advance sustainability goals in a particular regional market. Recommended prerequisite: 14.01. Meets with 15.219 when offered concurrently. Expectations and evaluation criteria differ for students taking graduate version; consult syllabus or instructor for specific details. Preference to juniors, seniors, and Energy Minors.
Staff

14.471 Public Economics I
______

Graduate (Spring)
Prereq: 14.04
Units: 4-0-8
______
Theory and evidence on government taxation policy. Topics include tax incidence; optimal tax theory; the effect of taxation on labor supply and savings; taxation and corporate behavior; and tax expenditure policy.
N. Hendren, I. Werning

14.472 Public Economics II
______

Graduate (Fall)
Prereq: 14.471
Units: 3-0-9
Add to schedule Lecture: MW2.30-4 (E51-361) Recitation: F12 (E51-361)
______
Focuses on government expenditures and policies designed to correct market failures and/or redistribute resources. Key topics include theoretical and empirical analysis of insurance market failures, the optimal design of social insurance programs, and the design of redistributive programs.
A. Finkelstein, N. Hendren
No textbook information available

14.475 Environmental Economics
______

Graduate (Spring)
Prereq: None
Units: 4-0-8
______
Theory and evidence on environmental externalities and regulatory, tax and other government responses to problems of market failure. Topics include cost-benefit analysis; measurement of the benefits of non-market goods; evaluation of the impacts of regulation; and international environmental issues including the economics of climate change and trade and the environment.
J. Moscona, B. Olken

International, Interregional, and Urban Economics

14.54 International Trade
______

Undergrad (Fall) HASS Social Sciences
(Subject meets with 14.540)
Prereq: 14.01
Units: 4-0-8
Add to schedule Lecture: MW10.30-12 (E51-361) Recitation: F11 (E51-376) +final
______
Provides an introduction to theoretical and empirical topics in international trade. Offers a brief history of globalization. Introduces the theory of comparative advantage and discusses its implications for international specialization and wage inequality. Studies the determinants and consequences of trade policy, and analyzes the consequences of immigration and foreign direct investment. Students taking graduate version complete additional assignments.
A. Costinot
No textbook information available

14.540 International Trade
______

Graduate (Fall)
(Subject meets with 14.54)
Prereq: 14.01
Units: 4-0-8
Add to schedule Lecture: MW10.30-12 (E51-361) Recitation: F11 (E51-376)
______
Provides an introduction to theoretical and empirical topics in international trade. Offers a brief history of globalization. Introduces the theory of comparative advantage and discusses its implications for international specialization and wage inequality. Studies the determinants and consequences of trade policy, and analyzes the consequences of immigration and foreign direct investment. Students taking graduate version complete additional assignments.
A. Costinot
No textbook information available

14.581 International Economics I
______

Graduate (Fall)
Prereq: 14.04
Units: 5-0-7
Add to schedule Lecture: MW9-10.30 (E51-151) Recitation: F9-10.30 (E51-151) +final
______
Covers a variety of topics, both theoretical and empirical, in international trade, international macroeconomics, and economic geography. Focuses on general equilibrium analysis in neoclassical economies. Considers why countries and regions trade, and what goods they trade; impediments to trade, and why some countries deliberately erect policy to impede; and implications of openness for growth. Also tackles normative issues, such as whether trade openness is beneficial, whether there are winners and losers from trade and, if so, how they can possibly be identified.
D. Atkin, A. Costinot
No textbook information available

14.582 International Economics II
______

Graduate (Spring)
Prereq: 14.06
Units: 5-0-7
______
Building on topics covered in 14.581, revisits a number of core questions in international trade, international macroeconomics, and economic geography in the presence of increasing returns, imperfect competition, and other distortions. Stresses their connection to both macro and micro (firm-level) data for questions related to trade policy, inequality, industrial policy, growth, and the location of economic activities. Focuses on both theoretical models, empirical findings, and the challenging task of putting those two together.
D. Atkin, D. Donaldson

Labor Economics and Industrial Relations

14.64 Labor Economics and Public Policy
______

Not offered academic year 2024-2025Undergrad (Spring) HASS Social Sciences
(Subject meets with 14.640)
Prereq: 14.30 or permission of instructor
Units: 4-0-8
______
Provides an introduction to the labor market, how it functions, and the important role it plays in people's lives. Topics include supply and demand, minimum wages, labor market effects of social insurance and welfare programs, the collective bargaining relationship, discrimination, human capital, and unemployment. Completion of or concurrent enrollment in 14.03 or 14.04,  and 14.32 recommended. Students taking graduate version complete additional assignments.
S. Jaeger

14.640 Labor Economics and Public Policy
______

Graduate (Spring)
(Subject meets with 14.64)
Prereq: 14.300 or permission of instructor
Units: 4-0-8
______
Provides an introduction to the labor market, how it functions, and the important role it plays in people's lives. Topics include supply and demand, minimum wages, labor market effects of social insurance and welfare programs, the collective bargaining relationship, discrimination, human capital, and unemployment. Completion of or concurrent enrollment in 14.03 or 14.04, and 14.32 recommended. Students taking graduate version complete additional assignments.
S. Jaeger

14.661 Labor Economics I
______

Graduate (Fall)
(Subject meets with 14.661A)
Prereq: 14.32 and (14.03 or 14.04)
Units: 5-0-7
Add to schedule Lecture: TR10.30-12 (E51-145) Recitation: F10.30-12 (E51-151) +final
______
A systematic development of the theory of labor supply, labor demand, and human capital. Topics include wage and employment determination, turnover, search, immigration, unemployment, equalizing differences, and institutions in the labor market. Particular emphasis on the interaction between theoretical and empirical modeling. No listeners.
D. Acemoglu, J. Angrist
No textbook information available

14.661A Labor Economics I
______

Graduate (Fall)
(Subject meets with 14.661)
Prereq: 14.32 and (14.03 or 14.04)
Units: 5-0-7
Add to schedule Lecture: TR10.30-12 (E51-145) Recitation: F10.30-12 (E51-151) +final
______
Covers the same material as 14.661 but in greater depth. Additional assignments required. Limited to economics PhD students who wish to declare a major field in labor economics.
D. Acemoglu, J. Angrist
No required or recommended textbooks

14.662 Labor Economics II
______

Graduate (Spring)
(Subject meets with 14.662A)
Prereq: 14.32 and (14.03 or 14.04)
Units: 5-0-7
______
Theory and evidence on the determinants of earnings levels, inequality, intergenerational mobility, skill demands, and employment structure. Particular focus on the determinants of worker- and firm-level productivity; and the roles played by supply, demand, institutions, technology and trade in the evolving distribution of income.
D. Autor, N. Roussille

14.662A Labor Economics II
______

Graduate (Spring)
(Subject meets with 14.662)
Prereq: 14.32 and (14.03 or 14.04)
Units: 5-0-7
______
Covers the same material as 14.662 but in greater depth. Additional assignments required. Limited to economics PhD students who wish to declare a major field in labor economics.
D. Autor, N. Roussille

Economic History

14.70[J] Medieval Economic History in Comparative Perspective
______

Undergrad (Spring) HASS Social Sciences Communication Intensive HASS
(Same subject as 21H.134[J])
Prereq: None
Units: 3-0-9
______
Surveys the foundations of material life and changing social and economic conditions in medieval Europe in their broader Eurasian context. Covers the gradual disintegration of the Roman imperial order, the emergence and decline of feudal institutions, the transformation of peasant agriculture, living standards and the impact of climate and disease environments, and the ebb and flow of long-distance trade across the Eurasian system. Particular emphasis on the study of those factors, both institutional and technological, which contributed to the emergence of capitalist organization and economic growth in western Europe in comparison to the trajectories followed by the other major medieval economies.
A. McCants

14.73 The Challenge of World Poverty
______

Undergrad (Fall) HASS Social Sciences Communication Intensive HASS
Prereq: None
Units: 4-0-8
Add to schedule Lecture: MW1-2.30 (E51-372) Recitation: R4 (E52-432) or F1 (E51-057) or F3 (E51-057) +final
______
Designed for students who are interested in the challenge posed by massive and persistent world poverty. Examines extreme poverty over time to see if it is no longer a threat, why some countries grow fast and others fall further behind, if growth or foreign aid help the poor, what we can do about corruption, if markets or NGOs should be left to deal with poverty, where to intervene, and how to deal with the disease burden and improve schools.
E. Duflo, F. Schilbach
No textbook information available

Economic Development

14.74 Foundations of Development Policy
______

Undergrad (Fall) HASS Social Sciences
Not offered regularly; consult department
(Subject meets with 14.740)
Prereq: 14.01
Units: 4-0-8
______
Explores the foundations of policy making in developing countries, with the goal of spelling out various policy options and quantifying the trade-offs between them. Topics include education, health, fertility, adoption of technological innovations, financial markets (credit, savings, and insurance), markets for land and labor, political factors, and international considerations (aid, trade, and multinational firms). Some basic familiarity with probability and/or statistics is useful for this class. Students taking graduate version complete additional assignments.
D. Atkin

14.740 Foundations of Development Policy
______

Graduate (Fall)
Not offered regularly; consult department
(Subject meets with 14.74)
Prereq: 14.01
Units: 4-0-8
______
Explores the foundations of policy making in developing countries, with the goal of spelling out various policy options and quantifying the trade-offs between them. Topics include education, health, fertility, adoption of technological innovations, financial markets (credit, savings, and insurance), markets for land and labor, political factors, and international considerations (aid, trade, and multinational firms). Some basic familiarity with probability and/or statistics is useful for this class. Students taking graduate version complete additional assignments.
D. Atkin

14.75 Political Economy and Economic Development
______

Undergrad (Spring) HASS Social Sciences
(Subject meets with 14.750)
Prereq: 14.01
Units: 4-0-8
______
Explores the relationship between political institutions and economic development, covering key theoretical issues as well as recent empirical evidence. Topics include corruption, voting, vote buying, the media, and war. Discusses not just what we know on these topics, but how we know it, covering how to craft a good empirical study or field experiment and how to discriminate between reliable and unreliable evidence.  Some basic familiarity with probability and/or statistics is useful for this class.  Students taking graduate version complete additional assignments.
B. Olken

14.750 Political Economy and Economic Development
______

Graduate (Spring)
(Subject meets with 14.75)
Prereq: 14.01
Units: 4-0-8
______
Explores the relationship between political institutions and economic development, covering key theoretical issues as well as recent empirical evidence. Topics include corruption, voting, vote buying, the media, and war. Discusses not just what we know on these topics, but how we know it, covering how to craft a good empirical study or field experiment and how to discriminate between reliable and unreliable evidence. Some basic familiarity with probability and/or statistics is useful for this class.  Students taking graduate version complete additional assignments.
B. Olken

14.76 Firms, Markets, Trade and Growth
______

Undergrad (Spring) HASS Social Sciences
(Subject meets with 14.760)
Prereq: 14.01 and (14.30 or permission of instructor)
Units: 4-0-8
______
Examines how industrial development and international trade have brought about rapid growth and large-scale reductions in poverty for some developing countries, while globalization has simply increased inequality and brought little growth for others. Also considers why, in yet other developing countries, firms remain small-scale and have not integrated with global supply chains. Draws on both theoretical models and empirical evidence to better understand the reasons for these very different experiences and implications for policy. Students taking graduate version complete additional assignments.
D. Atkin, D. Donaldson

14.760 Firms, Markets, Trade and Growth
______

Graduate (Spring)
(Subject meets with 14.76)
Prereq: 14.01 and (14.30 or permission of instructor)
Units: 4-0-8
______
Examines how industrial development and international trade have brought about rapid growth and large-scale reductions in poverty for some developing countries, while globalization has simply increased inequality and brought little growth for others. Also considers why, in yet other developing countries, firms remain small-scale and have not integrated with global supply chains. Draws on both theoretical models and empirical evidence to better understand the reasons for these very different experiences and implications for policy. Students taking graduate version complete additional assignments.
D. Atkin, D. Donaldson

14.770 Introduction to Collective Choice and Political Economy
______

Graduate (Fall)
Prereq: None
Units: 4-0-8
Add to schedule Lecture: TR10.30-12 (E51-151) Recitation: W10.30-12 (E52-532)
______
Broad introduction to political economy. Covers topics from social choice theory to political agency models, including theories of voter turnout and comparison of political institutions.
A. Banerjee, A. Wolitzky
No textbook information available

14.771 Development Economics: Microeconomic Issues
______

Graduate (Fall)
Prereq: 14.121 and 14.122
Units: 5-0-7
Add to schedule Lecture: MW10.30-12 (E51-151) Recitation: W4 (E51-361)
______
A rigorous introduction to core micro-economic issues in economic development, focusing on both key theoretical contributions and empirical applications to understand both why some countries are poor and on how markets function differently in poor economies. Topics include human capital (education and health); labor markets; credit markets; land markets; firms; and the role of the public sector.
E. Duflo, B. Olken
No textbook information available

14.772 Development Economics: Macroeconomics
______

Graduate (Spring)
Prereq: 14.121 and 14.451
Units: 5-0-7
______
Emphasizes dynamic models of growth and development. Topics include migration, modernization, and technological change; static and dynamic models of political economy; the dynamics of income distribution and institutional change; firm structure in developing countries; development, transparency, and functioning of financial markets; privatization; and banks and credit market institutions in emerging markets. Examines innovative yet disruptive digital technologies, including blockchain, digital assets, crypto currency, distributed ledgers, and smart contracts.
A. Banerjee, R. Townsend,

14.773 Political Economy: Institutions and Development
______

Graduate (Spring)
Prereq: 14.121 and 14.451
Units: 5-0-7
______
Economists and policymakers increasingly realize the importance of political institutions in shaping economic performance, especially in the context of understanding economic development. Work on the determinants of economic policies and institutions is in its infancy, but is growing rapidly. Subject provides an introduction to this area. Topics covered: the economic role of institutions; the effects of social conflict and class conflict on economic development; political economic determinants of macro policies; political development; theories of income distribution and distributional conflict; the efficiency effects of distributional conflict; the causes and consequences of corruption; the role of colonial history; and others. Both theoretical and empirical approaches discussed. Subject can be taken either as part of the Development Economics or the Positive Political Economy fields.
D. Acemoglu, J. Moscona

14.775 Comparing Societies
(New)
______

Graduate (Fall)
Prereq: None
Units: 4-0-8
Add to schedule Lecture: W EVE (4-6.30 PM) (E52-432) Recitation: TBA
______
Studies the cultural, social, and institutional foundations of societies around the world, emphasizing fundamentals and mechanisms that are outside the scope of traditional models in economics. Topics include social organization, perceptions of reality (e.g., the spiritual and meta-human world), drivers of innovation and technology diffusion, conflict, determinants of fertility and population growth, moral frameworks (e.g., views about right/wrong, fairness, equality, and community membership), religion, objectives and definitions of success, and societal equilibria. Emphasizes how research ranging from economic theory to development and policy design can benefit from an understanding of these vast differences that exist around the world. Also considers how these differences affect and are affected by culture, formal institutions, and development. Open to PhD students.
J. Moscona, N. Nunn, J. Robinson
No textbook information available

14.78[J] Shaping the Future of Technology: From Early Agriculture to Artificial Intelligence
______

Not offered academic year 2024-2025Undergrad (Spring) HASS Social Sciences Communication Intensive HASS
(Same subject as 15.238[J])
Prereq: None
Units: 4-0-8
______
Provides a framework for thinking about major technological transitions over the past 12,000 years as a means to explore paths to a better future. Discusses who gains or loses from innovation and who can shape the future of artificial intelligence, biotech, and other breakthroughs. Introduces major questions tackled by researchers and relevant to economic policy through faculty lectures, interactive events with prominent guests, and group work. Instruction and practice in oral and written communication provided.
D. Acemoglu, S. Johnson

14.THG Graduate Thesis
______

Graduate (Fall, IAP, Spring, Summer) Can be repeated for credit
Prereq: Permission of instructor
Units arranged
Add to schedule TBA.
______
Program of research and writing of thesis; to be arranged by the student with advising committee.
I. Andrews
No required or recommended textbooks (Summer 2024); Textbooks arranged individually (Fall 2024)

14.THU Thesis
______

Undergrad (Fall, IAP, Spring, Summer) Can be repeated for credit
Prereq: 14.33
Units arranged
Add to schedule TBA.
______
Program of research and writing of thesis.
D. Donaldson
Textbooks arranged individually

14.UR Undergraduate Research
______

Undergrad (Fall, IAP, Spring, Summer) Can be repeated for credit
Prereq: 14.02
Units arranged [P/D/F]
Add to schedule TBA.
______
Participation in research with an individual faculty member or research group, independent research or study under the guidance of a faculty member. Admission by arrangement with individual faculty member.
J. Angrist
No required or recommended textbooks

14.URG Undergraduate Research
______

Undergrad (Fall, IAP, Spring, Summer) Can be repeated for credit
Prereq: 14.02
Units arranged
Add to schedule TBA.
______
Participation in research with an individual faculty member or research group, independent research or study under the guidance of a faculty member. Admission by arrangement with individual faculty member.
J. Angrist
No required or recommended textbooks


left arrow | 14.00-14.399 plus UROP | 14.40-14.999 and UROP and Thesis | right arrow



Produced: 27-MAY-2024 05:10 PM