Microeconomics

The Microeconomics sequence covers: Preference and choice, consumer choice, classical demand theory, aggregate demand, production, choice under uncertainty; markets and competitive equilibria, welfare properties and other properties of competitive equilibria, uncertainty and asset pricing; non-cooperative games, simultaneous move and dynamic games, complete and incomplete information games with applications; externalities, public goods, adverse selection, signalling, screening, principal-agent theory, limits to redistribution, general equilibrium under uncertainty, social choice, incentives and mechanism design.

Textbooks used in the sequence include Gibbons (1992), A Primer in Game Theory, Harvester Wheatsheaf; Mas-Colell, Whinston and Green (1995), Microeconomic Theory, Oxford University Press. Other references are Jehle and Reny (2011), Advanced Microeconomic Theory, Prentice Hall, and Varian (1992), Microeconomic Analysis, Norton.

Macroeconomics

The Macroeconomics sequence covers: Development accounting and misallocation, capital accumulation, optimal consumption and saving, complete and incomplete markets, aggregation, risk sharing, asset pricing, durable goods and the demand for housing; the neoclassical growth model, Ramsey policies with complete and incomplete markets, the McCall and Stigler search model, search and matching, Diamond-Mortensen-Pissarides; the classical monetary model and the basic New Keynesian model, inflation dynamics, optimal monetary policy design and open economies.

The main textbook for the third week is Galí (2015), Monetary Policy, Inflation and the Business Cycle. An Introduction to the New Keynesian Framework, Princeton University Press. The main textbook for the fourth week is Open Economy Macroeconomics, Princeton University Press; Uribe and Schmitt-Grohé (2017). Other textbooks include Acemoglu (2009), Introduction to Modern Economic Growth, Princeton University Press; Barro and Sala-i-Martin (2003), Economic Growth, MIT Press; Ljungqvist and Sargent (2018), Recursive Macroeconomic Theory, MIT Press; Niepelt (2019), Macroeconomic Analysis, MIT Press; Romer (2019), Advanced Macroeconomics, McGraw-Hill; Walsh (2017), Monetary Theory and Policy, MIT Press, and Woodford (2003), Interest and Prices: Foundations of a Theory of Monetary Policy, Princeton University Press.

Econometrics

The Econometrics sequence covers: Basic probability theory, large sample theory, estimators and their properties, hypothesis testing, Bayes methods; inference in the classical regression model, generalizations of the linear model, instrumental variables; linear difference equations, stochastic processes, Wold theorem, spectral analysis, estimation and inference methods for stationary linear models, vector autoregressions, functional central limit theorem, Kalman filtering, models of time-varying volatility, forecasting; nonlinear regression and GMM estimation, quantile regression, discrete choice models, program evaluation and sample selection, non-parametric estimation techniques, and panel data models.

Textbooks used in the sequence include Hamilton (1994), Time Series Analysis, Princeton University Press; Hayashi (2000), Econometrics, Princeton University Press, and Hogg and Craig (1995), Introduction to Mathematical Statistics, Prentice Hall.