MRes Economics Options

ECONG201: Advanced Macroeconomics: Models with Heterogeneous Agents

Aims: 

The aim of the course is bringing the students to the frontier of research of models with heterogeneous agents and consumption, labor supply, and savings decisions, and to critically discuss the advances and shortcomings of the most important current contributions to the field. This will help generate novel and productive ideas for dissertation research

Objectives:

Learning interesting and important contributions to the literature of models with heterogeneous agents. Applications include people’s savings behavior at various ages, the kind of risks that they face, the insurance mechanisms that they can use, and the kind of assets that they can use to save, including financial assets, education, and health. Better modeling these important decisions will help inform the design of optimal taxation and government insurance.

Taught by:
Wei Cui and Mariacristina De Nardi
Assessment:

Teaching:

  • Term 2: 10 lectures and 5 tutorials
  • Assessment: During May/June you will be required to sit a two-hour closed book examination.
Suitable for:
 
Prerequisites:  
Moodle page:
 

ECONG202: Public Economics


Aims: 

There are three aims of the module

  1. Give the students a solid background in in the theory of public finance, as well as models of savings and labor supply
  2. Give the students an overview of data for conducting PhD theses
  3. Teach the students modern applied econometrics procedures, including methods to address “natural experiments”, including difference in differences, regression discontinuity, and instrumental variables; as well as “structural estimation”, including GMM and calibration methods.

Objectives:

At the end of the course, students should be able to:

  1. Estimate a simple labor supply model using both instrumental variables and GMM.
  2. Use the estimated model to calculate deadweight loss (a key concept of public finance).  Understand the different theories of public finance.
  3. Understand key policy tools that governments use to tax and transfer resources.  

Taught by:
Eric French
Assessment:

Teaching:

  • Term 2: 10 lectures and 5 tutorials
  • Assessment: During May/June you will be required to sit a two-hour closed book examination.
Suitable for:
 
Prerequisites:  
Moodle page:
 

ECONG203: Foundations and Frontiers of Mechanism Design

Available in the 2015/16 academic year

Aims: 

The objective of this course is to provide students with up-to-date mechanism design tools that they can use in their research, whatever they study: frontier work on microeconomic theory, macro theory, applied micro, organizations, public finance, political economy, development.

Objectives:

At the end of the course students will be familiar with the seminal results and techniques of mechanism design and will have an overview of the frontier work where these techniques are employed across different areas in economics.

Taught by:
Vasiliki Skreta
Assessment:

Teaching:

  • Term 2: 10 lectures and 5 tutorials
  • Assessment: During May/June you will be required to sit a two-hour closed book examination.
Suitable for:
 
Prerequisites:  
Moodle page:
 

ECONG204: Modern Macroeconometrics


Aims: 

To provide an overview of both basic time series methods and advanced methods for the econometric analysis of a broad class of models that are used in macroeconomics

Objectives:

Gaining and understanding of the frontiers of macroeconometric methods and techniques for doctoral students who might be using these methods in their research

Taught by:
Raffaella Giacomini and Dennis Kristensen
Assessment:

Teaching:

  • Term 2: 10 lectures and 5 tutorials
  • Assessment: During May/June you will be required to sit a two-hour closed book examination.
Suitable for:
 
Prerequisites:  
Moodle page:
 

ECONG205: Applied Job Search Models and Structural Analysis of Individual Wage Data

Aims: 

The objective of this course is to provide students with a set of ideas and tools that they can use in their research, whatever they study: labor, I/O, macro, applied micro, development, family economics.

Objectives:

Understanding the sources of wage dispersion across workers, wage dynamics across dates and wage profiles over a worker’s life cycle. More generally, understanding price (wage) formation in markets that are affected by trading frictions.

Taught by:
Fabien Postel-Vinay
Assessment:

Teaching:

  • Term 2: 10 lectures and 5 tutorials
  • Assessment: During May/June you will be required to sit a two-hour closed book examination.
Suitable for:
 
Prerequisites:  
Moodle page:
 

ECONG206: Topics in Applied Economics


Aims: 

The course will focus on identification and estimation of ( 1 ) dynamic programming discrete choice models and ( 2 ) games and social interaction models.  Lectures will focus on the theoretical material but will be complemented by empirical applications.

Objectives:

This course focuses on the applied econometrics of (1) dynamic programming discrete choice models, (2) general equilibrium models, and (3) social interaction models.
By the end of the course, a student will be able to analyse economic phenomena in terms of models of behaviour, and to estimate structural models using numerical and simulation methods.

Taught by:
Michela Tincani
Assessment:

Teaching:

  • Term 2: 10 lectures and 5 tutorials
  • Assessment: During May/June you will be required to sit a two-hour closed book examination.
Suitable for:
 
Prerequisites:  
Moodle page:
 

ECONG207: International Macroeconomics

Aims: 

The objection of this course is to provide students with an introduction to the current frontier of research in international macroeconomics. It will try to get them to shift from being passive absorbers of others’ work to active participants in such research. It will do so by encouraging them to suggest new ways to attack long-standing issues in international macroeconomics.

Objectives:

To develop an understanding both international business cycles and policy making in a global economy. Increase their knowledge of how countries interact in a global economy, how these interactions lead to fluctuations, and, finally, how these fluctuations might best be managed by monetary, fiscal, and trade policy.

Taught by:
Patrick Kehoe
Assessment:

Teaching:

  • Term 2: 10 lectures and 5 tutorials
  • Assessment: During May/June you will be required to sit a two-hour closed book examination.
Suitable for:
 
Prerequisites:  
Moodle page:
ECONG207

ECONG208: Empirical Methods for the Study of the Labour Market

Aims: 

This course aims to further develop student’s ability to develop, estimate and simulate dynamic models of the labour market for the purpose of better understanding household behaviour and the effects of policy interventions in the labour market.

Objectives:

This course aims to further develop students ability to develop, estimate and simulate dynamic models of the labour market for the purpose of better understanding household behaviour and the effects of policy interventions in the labour market.

Taught by:
Jeremy Lise
Assessment:

Teaching:

  • Term 2: 10 lectures and 5 tutorials
  • Assessment: During May/June you will be required to sit a two-hour closed book examination.
Suitable for:
 
Prerequisites:  
Moodle page:
 

ECONG209: Theories of the Labor Market

Aims: 

The objective of this course is to provide students with a set of ideas and tools that they can use in their research, whatever they study: macro economics, applied micro, micro theory, organizations, public finance, political economy, development, family economics.

Objectives:

Understanding of theoretical models of the labor market. The focus is on those environments where workers differ in skills and firms differ in productivity. These models can be easily adjusted to environments outside labor markets.

Taught by:
Jan Eeckhout
Assessment:

Teaching:

  • Term 2: 10 lectures and 5 tutorials
  • Assessment: During May/June you will be required to sit a two-hour closed book examination.
Suitable for:
 
Prerequisites:  
Moodle page:
ECONG209

ECONG211: Topics in Economics and Psychology

Aims: 

This course is about the challenges that economic theorists face in their quest for economic models in which decision makers have a "richer psychology" than prescribed by textbook models. The enrichment takes two forms: (i) broadening the set of considerations that affect decision makers' behavior beyond simple, material self-interest; (ii) relaxing the standard assumption that agents have unlimited ability to perceive and analyze economic environments, and that they reason about uncertainty as "Bayesian statisticians". Special emphasis will be put on the implications of "psychologically richer" models on market behaviour.

Objectives:

  • To provide MRes Economics students with a presentation of a selection of tools for modelling economic agents with “rich” psychology
  • To give students tools for carrying out their own theoretical investigations involving incorporation of non-standard psychological factors in economic models

Taught by:
Rani Spiegler and Philippe Jehiel
Assessment:

Teaching:

  • Term 2: 10 lectures and 5 tutorials
  • Assessment: During May/June you will be required to sit a two-hour closed book examination.
Suitable for:
 
Prerequisites:  
Moodle page:
ECONG211