Introduction to Financial Decision-Making. Several sessions of the seminar will consist of an invited speaker, usually from another university, who will discuss his or her current research. This is the first part of a three course sequence (along with ECON 279 & 280-formerly 277) on behavioral and experimental economics. This is an advanced course on quantitative methods for empirical research. ECON 255. 5 Units. nnPrerequisites: If you are an undergraduate wishing to take this course, apply by completing the course application and provide a brief bio here: https://forms.gle/9BGYr8brdYwPS8Cu8. The course covers all of economics at a basic level. Games Developing Nations Play. Learn more about Economics in the Stanford Bulletin. Modern portfolio theory and corporate finance. Prerequisite: ECON 1 is recommended. We also explore questions in the intersection of public and family economics such as the unit of taxation, and the interaction between social insurance and intra-family insurance. Macroeconomic Workshop. Advanced Topics in Econometrics. Economic policy analysis, writing, and oral presentation. Principles of Economics, Macroeconomics, and Microeconomics Version 8.0, 2017 Rules for International Monetary Stability , with Michael Bordo (Eds. Stanford Summer Session provides high-achieving and ambitious students a transformative educational experience at a world-class university. Social Choice, including Arrow's theorem, the Gibbard-Satterthwaite theorem, and the Vickrey-Clarke-Groves mechanism. Prerequisites: ECON 52, ECON 102B. For graduate students and advanced undergraduates. ECON 157. Prerequisites: ECON 51 and 52, 102B, and two field courses. 3 Units. Aims to provide a solid basis in game-theoretic tools and concepts, both for theorists and for students focusing in other fields. 3 Units. Enrollment by non-Econ PhD students requires instructors' consent. A growing area of study and policy design is the introduction of market mechanisms into formerly regulated industries such as: telecommunications, electricity, airlines, railroads, postal delivery services and environmental regulation. Earnings inequality. 5 Units. The objective of the final paper is to study an existing market or an environment with a potential role for a market, describe the relevant market design questions, and evaluate how the current market design works and/or propose improvements on the current design. The course will also provide a strong foundation for those of you who want to continue on with intermediate microeconomics and/or intermediate macroeconomics and possibly beyond. Principles of Economics This course is designed as an introduction to the study of economics. 3 Units. Same as: PHIL 30, POLISCI 42, PUBLPOL 4. Prerequisites: A basic understanding/knowledge of introductory economics is recommended. Simplicity and Complexity in Economic Theory. ECON 284. Stanford, In other words, how money/capital change hands between agents over time, directly and through institutions. 3-5 Units. Student and faculty presentations. Prerequisite: consent of instructor. Thus, modern economic designs must still be simple enough for humans to understand, and must address computationally complex problems in an efficient fashion. The economic way of thinking and the functioning of a modern market economy. While economic policy will be the focus of much of the course, we will also examine some of the implications of social policies on personal finance as well. ECON 280. 3-5 Units. Students develop a research proposal and present it to the instructors as the final exam. Much of the analysis will build on the Arrow-DeBreu state preference model. An introduction to the study of the financial lives of households in less developed countries, focusing on savings, credit, informal insurance, the expansion of microfinance, social learning, public finance/redistribution, and social networks. Spending by federal, state, and local governments accounts for about one-third of U.S. GDP and governments employ more than one-in-seven workers in the U.S. For most U.S. residents, government is represented by a complicated web of federal, state, and local policies. Along the way we will accumulate a set of metrics to assess the performance of each level of government while highlighting the formidable challenges of such an exercise. We will also discuss the consequences of inequality in terms of social justice, economic welfare, aggregate economic performance, intergenerational mobility, and the possible implications of inequality for the recent global financial crisis. The effects of technological change on the labor market. Robert H. Frank received his M.A. The purpose of the class is for you to obtain greater comfort making the major financial decisions your life journey will require. Topics include inequality, polarization and skill-biased technical change, discrimination, technology adoption and the spread of information, management practices, field experiments, peer effects and academic spillovers. Recommended: ECON 241.270, 271, or equivalent with consent of instructor. Topics include: health and education; risk and insurance; microfinance; agriculture; technology; governance. ECON 290. The two main areas examined are competition policy and economic regulation. Focuses on series of experiments that build on one another in an effort to test between competing theoretical frameworks, with the objects of improving the explanatory and predictive performance of standard models, and of providing a foundation for more reliable normative analyses of policy issues. Connections between population growth, economic output, environmental quality, sustainable development, and human welfare. 3-5 Units. 5 Units. This is an advanced class on monetary economics. 5 Units. Same as: MGTECON 617. Economics-Based Econometrics. California The Stanford Economics Department has two central missions: to train students at the undergraduate and graduate level in the methods and ideas of modern economics, and to conduct both basic and applied research in economics that pushes forward the frontier of knowledge in the field. Markov chain Monte Carlo methods. ECON 139D. 3-5 Units. 5 Units. But at times we will widen the perspective to developing countries and consider historical changes as well. Preparation for advanced research in political economy. © Stanford University, Stanford, California 94305. Theory and empirical results. Social and Economic Networks. Limited enrollment. In the context of these topics, the course will cover social science empirical methods, including regression analysis, causal inference, and quasi-experimental methods. Behavioral and Experimental Economics II. ECON 101. ECON 286. Energy, the Environment, and the Economy. Long-run economic growth and short-run economic fluctuations. Both classical econometric methods and modern techniques in machine learning will be employed. education, health care, etc.) Normally written under the direction of a member of the Department of Economics (or some closely related department). ECON 391. ECON 283 recommended. ECON 25N. 2-5 Units. in statistics from the University of California at Berkeley in 1971, and his Ph.D. in economics in 1972, also from U.C. We will explore models for analyzing a wide variety of issues in open-economy macroeconomics, such as the balance of payments; the determination of exchange rates; monetary and fiscal policy under flexible and fixed exchange rate regimes; exchange rate crises; sovereign debt crises and the possibility of contagion. We then review the tools and methods economists use to analyze the potential consequences of AI and machine learning. Technology has enabled the emergence of economic systems of formerly inconceivable complexity. The behavior of consumers and firms. ECON 150. Students write an original research paper, make a formal presentation, and lead a structured discussion. This course focuses on household decision making, the economics of discrimination, and the economics of migration. He has also edited a wide range of books and reports and published articles on globalization, the new economy, and outsourcing. The economic way of thinking and the functioning of a modern market economy. 5 Units. Same as: POLISCI 460B. Policy topics: Fiscal crises, budget deficits, the national debt and intergenerational equity; tax systems and tax reform; social security and healthcare programs and reforms; transfers to the poor; public goods and externalities; fiscal federalism; public investment and cost-benefit analysis; and the political economy of government decision-making. In-depth study of an appropriate question and completion of a thesis of very high quality. 3-5 Units. those in poverty, the elderly, etc.). The primary goal is to develop and then build on your understanding of the analytical tools and approaches used by economists. Students will perform both in-class and out-of-class assignments working with actual datasets to address policy-relevant decisions and simulation exercises designed to deepen their knowledge of these methods. Prerequisites: ECON 271 or permission of instructor. Weekly sessions go through the process of selecting a research question, finding relevant bibliography, writing a literature review, introduction, and study design, culminating in the write-up of an honors thesis proposal (prospectus) and the oral presentation of each student's research project. Industrial Organization 1. Microeconomics II. We will look forward at strategic opportunities and power players appearing and being dethroned in the markets to discuss who is likely to thrive ¿ and not survive ¿ in the new global financial landscape. Prerequisite: 202, 203, 204, 210, 211, 212, 270, 271, 272. Environmental Economics. Same as: MED 262. ECON 44. nWe will discuss slowing global growth against the backdrop of ongoing intervention and wildcards in the capital markets of the U.S., Europe, Hong Kong, Singapore, China, India, Japan, the Middle East and Latin America. The course will also include four lectures on behavioral public economics. ECON 166. International Trade. Focuses on series of experiments that build on one another in an effort to test between competing theoretical frameworks, with the objectives of improving the explanatory and predictive performance of standard models, and of providing a foundation for more reliable normative analyses of policy issues. The primary course goal is for students to master the logic, intuition and operation of a financial system - money, financial markets (money and capital markets, debt and equity markets, derivatives markets), and financial institutions and intermediaries (the Central Bank, depository institutions, credit unions, pension funds, insurance companies, venture capital firms, investment banks, mutual funds, etc.). The approach will be rigorous and analytical but not overly mathematical. We will briefly review some basics of auction theory, but the main goal of the class is to bring students closer to doing independent research and introduce them to recent contributions and currently active research areas. The course will give students a non-technical introduction to social science empirical methods, including regression analysis, causal inference, experimental and quasi-experimental methods, and machine learning. Students should be comfortable reading and engaging with empirical research in economics and related fields. Courses from Real business cycle and new Keynesian models: business cycle fluctuations, inflation dynamics, the effects of monetary and fiscal policy, and optimal policy. Same as: CS 360. Quantile Regression methods. There will also be a Q&A following the initial discussion. Stanford Online retired the Lagunita online learning platform on March 31, 2020 and moved most of the courses that were offered on Lagunita to edx.org. ECON 14 Navigating Financial Crises … Students will learn how to keep more options open and to live with fewer constraints by making sound financial decisions. Markets for goods and inputs. It will address economic issues, legal constraints, and political challenges associated with various emissions-reduction and adaptation strategies, and it will consider policy efforts at the local, national, and international levels. ECON 10. The second half of the course covers local public policy and urban economics, and includes topics such as spatial equilibrium, placed-based policies and housing policy. 5 ways to get America working again by David Harsanyi, Human Events, July 24, 2012. Same as: ECON 252, PUBLPOL 364. ECON 146. 3-5 Units. . Welfare-reform legislation passed by the federal government in the mid-1990s heralded a dramatic step in the movement that has been termed the devolution revolution, which is again being discussed in the context of healthcare reform. Topics: Instrumental variables estimation; limited dependent variable models (probit, logit, Tobit models); Panel data techniques (fixed and random effect models, dynamic panel data models); Duration models; Bootstrap and Estimation by Simulation. Archivado: Se anunciarán próximas fechas 1-10 Unit. We begin by examining the effects of previous technological revolutions (from the Industrial Revolution to the digital age) on living standards, relative power of labor and capital, and organization of economic activity. We will cover both microeconomics (investigating decisions by individuals and firms) and macroeconomics (examining the economy as a whole). 2-5 Units. Department of Economics Description: This is an introductory course in economics. Prerequisite: ECON 202 and 203. Theoretical and empirical analyses of the determinants of market structure; firm behavior and market efficiency in oligopolies; price discrimination; price dispersion and consumer search; differentiated products; the role of information in markets, including insurance and adverse selection; auctions; collusion and cartel behavior; advertising; entry and market structure; market dynamics; strategic behavior. Prerequisite: ECON 1. 5 Units. Topics vary slightly depending on the quarter. Prerequisite: ECON 270 or MGTECON 603 or permission of instructor. Prerequisites: ECON 285 or equivalent. Prerequisite: ECON 50, 52. We also explain how some countries have overcome such traps. ECON 234. Advanced Macroeconomics I. Theory and Practice of Auction Market Design. Topics vary with instructor. We will apply economics principles throughout to understand the effectiveness of America's antipoverty programs and their consequences on the behavior and circumstances of families. Institutional Investment Management: Theory and Practice. Topics include the organization of firms in US and internationally. Theoretical contributions as well as empirical analyses will be considered. How economic policy analysis is done and why political leaders regard it as useful but not definitive in making policy decisions. ECON 260. Microeconomics III. Public Economics III. Topics: strategic and extensive form games, dominant strategies, Nash equilibrium, subgame-perfect equilibrium, and Bayesian equilibrium. Political Economy I. Solution methods for macroeconomic models. ECON 135 or 140, ECON 102A). Advanced Econometrics II. To apply, complete the application at https://economics.stanford.edu/undergraduate/forms. 3-5 Units. Prerequisites: ECON 202-204, ECON 270, ECON 271, or equivalent with consent of instructor. 3-5 Units. Topics include decision making, two player games, auctions, and market institutions. Financial Economics II. 5 Units. This is an introductory course in economics. Stanford Online offers a lifetime of learning opportunities on campus and beyond. ECON 102C. ECON 102B. Directed Reading. Topics include new mortgage products, foreclosure rules, securitization, credit ratings, credit derivatives, dealer networks, repo financing, implications for prudential regulation & monetary policy. Prerequisites: 202, 203, 204, 271, and 272, or equivalents with consent of instructor. Students obtain employment in a relevant research or industrial activity to enhance their professional experience consistent with their degree programs. Tackling Big Questions Using Social Data Science. Analysis and description of labor markets. The role of government: regulation, monetary, and fiscal policy. Students are expected to have taken a course in linear models before. ECON 270. We consider the estimation of average treatment effects as well as personalized policies. Law and Economics. Prerequisite: ECON 51 (Public Policy majors may take PUBLPOL 51 as a substitute for ECON 51). ECON 198. The course starts on Monday, June 22 with the first week’s video-lectures and other course content. Macroeconomics III. (Non-Economics graduate students register for 202N.) Should the U.S. close its border to immigrants? The purpose of the class is to introduce you to the modern financial system. Externalities and public goods. Specific topics include: interactions among overlapping climate policies, the strengths and weaknesses of alternative policy instruments, trade-offs among alternative policy objectives, and decision making under uncertainty. Students are expected to develop and present a research proposal. Towards the end of the course applied topics such as bank capital regulation, sovereign debt, pension funds, university endowments, and the evaluation of private equity performance and fees will be discussed, depending on time. Recommended: ECON 241 and 242. The course requires analyzing network data, which will be provided. These include auction markets, oligopolies, regulator-firm interactions, and nonlinear pricing.. ECON 1 Principles of Economics. In economics and the social sciences more broadly, empirical analyses typically estimate the effects of counterfactual policies, such as the effect of implementing a government policy, changing a price, showing advertisements, or introducing new products. ECON 178. Economic rationales for policy interventions, methods of policy evaluation and the role of benefit-cost analysis, economic models of politics and their application to policy making, and the relationship of income distribution to policy choice. Prerequisites:ECON 210, 211, 212 and 268. The role of markets and prices in a decentralized economy. It will help students learn the different historical stages of institutional changes, develop an informed perspective on economic and political rationale and the effectiveness of the economic policies that have shaped China's economic emergence, and think critically about the process of economic and social changes. Methods for designing randomized controlled trials (RCT) and analyzing the resulting data will be discussed. ECON 233. Winter registration for one unit under the supervision of the Director of the Honors Program is mandatory for all honors students. Course combines individual meetings and student presentations, with an aim of initiating dissertation research in industrial organization. Theoretical foundations of policy making and analysis, and applications to program adoption and implementation. monetary policy and financial regulation.) The textbook is Principles of Economics, Version 8.0 by John B. Taylor and Akila Weerapana. 5 Units. Labor Economics Seminar. The goal of this course is to learn how to use economic analysis to reach reasoned conclusions about the big issues of the day from the workings and benefits of a market economy to the causes of economic growth, financial crises, and unemployment. (Non-Economics graduate students register for 203N.) ECON 214. The course is open to PhD students only. Prerequisites: ECON 50. The Principles of Economics program at Stanford Summer covers all of economics at a basic level. nnPrerequisites: If you are an undergraduate wishing to take this course, apply by completing the course application and provide a brief bio here: https://forms.gle/9BGYr8brdYwPS8Cu8. ETFs, zero-cost products), among others are changing not only how financial and non-financial firms conduct business but also how investors and supervisors view the players and the markets. Quantitative Methods for Empirical Research. The centerpiece of devolution is the transfer of more responsibilities for antipoverty programs to the states. Dynamic programming applied to a variety of economic problems. ECON 243. Same as: EARTHSYS 159, ECON 159, PUBLPOL 159. ECON 199D. ECON 355. Focus is on a series of experiments that build on one another. Microeconomics I For Non-Economics PhDs students. Topics will include public financing and public policy in health care and health insurance; demand and supply of health insurance and healthcare; physicians' incentives; patient decision-making; competition policy in healthcare markets, intellectual property in the context of pharmaceutical drugs and medical technology; other aspects of interaction between public and private sectors in healthcare and health insurance markets. Competition policy refers to laws that define certain market behavior as illegal because it is harmful to competition or fails to provide consumer benefits that justify its costs to consumers. Topics include making a financial plan and budget, managing money, saving, investing in stocks and other assets, purchasing insurance, taxes and inflation, inheritance, financial markets and financial advisors. Topics include: hidden characteristics and hidden action models with one and many agents, design of mechanisms and markets with limited communication, long-term relationships under commitment and under renegotiation, property rights and theories of the firm. Topics include: historical and institutional foundations of the U.S. rise to world economic preeminence; economic causes and consequences of slavery; the American national system of technology; the Great Depression of the 1930s and the policy response; inequality and intergenerational mobility; the growth of social insurance. 5 Units. Prerequisite: ECON 202. Topics will include the study of macroeconomic models with financial frictions, the term structure of interest rates, conventional and unconventional monetary policy, sovereign debt crises, search frictions and segmentation in housing markets, (over)leveraging by households, heterogeneous expectations, excess volatility, financial bubbles and crises. 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