Economics

Academic Year 2022 – 2023

General Information

Address
Julis Romo Rabinowitz Building
Phone

Program Offerings:

  • Ph.D.

Director of Graduate Studies:

Graduate Program Administrator:

Overview

Graduate instruction in the Department of Economics is designed to lead to the degree of Doctor of Philosophy (Ph.D.) in economics. The general purpose of the graduate program is to provide thorough training in both the techniques and the applications of economic analysis. 

Apply

Application deadline
December 1, 11:59 p.m. Eastern Standard Time (This deadline is for applications for enrollment beginning in fall 2023)
Program length
5 years
Fee
$75
GRE
General Test required

Additional departmental requirements

Working knowledge of multivariate calculus and matrix algebra. Applicants must complete the ECO course list in the application.

Program Offerings

Courses

First-year students are required to take ECO 501 and 502 (microeconomics), ECO 503 and 504 (macroeconomics), and ECO 517 and 518 (econometrics). The students must pass all six courses with a minimum grade point average of 2.5 or above, and a grade of C minus or better in each course. A mandatory course in research ethics must be completed in the spring of the first year. Students are expected to take at least six advanced courses during their second year and pass these with a minimum grade point average of 2.5 or above. Up to two of the six courses can be taken outside the department at the discretion of the director of graduate studies (DGS). Additionally, second-year students are required to participate in Directed Research (ECO 506/508), a year-long course where they develop a research question and present results to their peers under the direction of faculty. Students may take courses in the School of Public and International Affairs and other departments. In addition, students are encouraged to do independent work and to participate in several workshops sponsored by the department.

General exam

At the end of the second year, students are required to take examinations in two fields that are usually chosen from among the following: (1) advanced macroeconomic theory, (2) advanced microeconomic theory, (3) econometrics, (4) economic development, (5) financial economics, (6) health economics, (7) industrial organization, (8) international money and finance, (9) international trade, (10) labor economics, (11) political economy, (12) public finance and (13) behavioral/experimental. Each field examination will be associated with a number (in most cases two) of courses. Students are advised to consult with appropriate faculty members on the extent and the coverage of the fields. To complete the general exam requirement, a student must pass two field examinations with a B minus or better.

Qualifying for the M.A.

The Master of Arts (M.A.) degree is normally an incidental degree on the way to full Ph.D. candidacy and is earned after a student successfully passes the six first-year courses with a grade point average of 2.5 or better, and two field examinations OR six courses beyond the first-year core. It may also be awarded to students who, for various reasons, leave the Ph.D. program, provided that these requirements have been met.

Teaching

As a normal part of graduate training, students are required to serve as assistants in instruction (AIs) during their third, fourth and fifth years, teaching class sections or grading papers for either graduate or undergraduate courses. Experience gained in being an AI is very valuable for those seeking academic jobs. AIs are remunerated by the University.

Post-Generals requirements

Choice of Adviser Requirement
Students are required to choose an adviser before the end of their fifth semester of study in the program. The adviser must agree to supervise the student’s research for (at least) the remainder of that year. Though this initial adviser does not necessarily become the chair of the student's dissertation committee, students are required to have an adviser who agrees to chair the committee by the beginning of the seventh semester of study. This latter deadline is an outer limit, not a recommendation. Ideally students should find a dissertation committee chair during the third year.

Research Paper and Seminar Requirements
In the third year, students are required to write a research paper on a topic of their choice. They must complete this paper with a grade of B or better by the end of their third year in order to continue in the program.

All students are encouraged to attend weekly seminars in their area of interest. Students who have passed their generals are expected to regularly attend one weekly seminar and present their job market paper in a relevant seminar when it is ready.

Dissertation and FPO

After passing the required courses, field exams, and third-year paper, students may progress to writing the dissertation. They will work with an adviser (often the third-year paper adviser) and at least two other faculty readers to compose a dissertation on an original topic. When it comes time to schedule a defense, the complete dissertation should be presented to the principal thesis advisers at least two months before the proposed defense. The date and time for the final public oral examination, and all paperwork, should be submitted to the graduate administrator with adequate time to prepare for the Graduate School deadline (two weeks before the defense date).

Faculty

  • Chair

    • Wolfgang Pesendorfer
  • Associate Chair

    • Mark A. Aguiar
  • Director of Graduate Studies

    • Jakub Kastl
  • Director of Undergraduate Studies

    • Smita B. Brunnermeier
  • Professor

    • Mark A. Aguiar
    • Orley C. Ashenfelter
    • Yacine Aït-Sahalia
    • Roland J. Benabou
    • Alan S. Blinder
    • Leah P. Boustan
    • Markus K. Brunnermeier
    • Sylvain Chassang
    • Janet M. Currie
    • Henry S. Farber
    • Gene M. Grossman
    • Faruk R. Gul
    • Kate Ho
    • Bo E. Honoré
    • Seema Jayachandran
    • Jakub Kastl
    • Nobuhiro Kiyotaki
    • Henrik J. Kleven
    • Michal Kolesár
    • Ilyana Kuziemko
    • David S. Lee
    • Alessandro S. Lizzeri
    • Alexandre Mas
    • Atif R. Mian
    • Eduardo Morales
    • Ulrich K. Mueller
    • Pietro Ortoleva
    • Wolfgang Pesendorfer
    • Stephen J. Redding
    • Richard Rogerson
    • Cecilia E. Rouse
    • Harold T. Shapiro
    • Giovanni L. Violante
    • Mark W. Watson
    • Wei Xiong
    • Leeat Yariv
    • Motohiro Yogo
    • Owen M. Zidar
  • Associate Professor

    • Thomas Fujiwara
    • Ezra D. Oberfield
  • Assistant Professor

    • Nicholas W. Buchholz
    • Natalie Cox
    • Ellora Derenoncourt
    • John R. Grigsby
    • Adam Kapor
    • Moritz F. Lenel
    • Ernest Liu
    • Adrien Matray
    • Xiaosheng Mu
    • Jonathan E. Payne
    • Mikkel Plagborg-Moller
    • David Schoenherr
    • Maria Micaela Sviatschi
    • Can Urgun
  • Senior Lecturer

    • Smita B. Brunnermeier
  • Lecturer

    • Swati Bhatt
    • Hope Corman
    • Mayara Felix
    • Caio Ibsen Rodrigues de Almeida
    • Sam Kapon
    • Thomas C. Leonard
    • Kelly Noonan
    • Benjamin M. Scuderi
    • Oscar Torres-Reyna
    • Silvia Weyerbrock
    • Andrea Wilson
    • Iqbal Zaidi
    • Jean-Christophe de Swaan
  • Visiting Professor

    • Monika Mrazova
    • Nancy E. Reichman
  • Visiting Associate Professor

    • Luigi Pascali
  • Visiting Assistant Professor

    • David Argente
    • Michael C. Best
    • Oren Danieli
    • Pablo Ottonello
    • Neil Thakral
    • Linh Tô

For a full list of faculty members and fellows please visit the department or program website.

Permanent Courses

Courses listed below are graduate-level courses that have been approved by the program’s faculty as well as the Curriculum Subcommittee of the Faculty Committee on the Graduate School as permanent course offerings. Permanent courses may be offered by the department or program on an ongoing basis, depending on curricular needs, scheduling requirements, and student interest. Not listed below are undergraduate courses and one-time-only graduate courses, which may be found for a specific term through the Registrar’s website. Also not listed are graduate-level independent reading and research courses, which may be approved by the Graduate School for individual students.

ECO 500 - Mathematics for Economists

An exposition of those parts of mathematics necessary to equip the graduate student in economics with modern techniques of analysis and empirical investigation. (This is a service course.)

ECO 501 - Microeconomic Theory I

First term of a two-term sequence in microeconomic theory. Topics include consumer and producer theory, choice under uncertainty, and an introduction to game theory.

ECO 502 - Microeconomic Theory II

Second term of a two-term sequence in microeconomic theory. Topics include static and intertemporal general equilibrium theory, public goods and externalities, auctions, mechanism design, bargaining, repeated games, social choice, and implementation.

ECO 503 - Macroeconomic Theory I

This course is the first term of a two-term sequence in macroeconomics. Topics include consumption, saving, and investment; real interest rates and asset prices; long-term economic growth; money and inflation; and econometric methods for macroeconomics.

ECO 504 - Macroeconomic Theory II

This course is the second term of a two-term sequence in macroeconomics. Topics include classical and Keynesian theories of cyclical fluctuations; the determination of employment and real wages; credit markets and financial stability; and stabilization policy.

ECO 505 - Responsible Conduct of Research in Economics

This seminar is designed to help graduate students in economics cultivate ethical research practices they may apply in future work at or beyond the University. Students are encouraged to discuss concerns that may arise during the conduct of their research with experienced faculty and devise solutions for dealing with these concerns. The course provides necessary training for newly mandated RCR training for graduate students supported by government grants, and is required for successful completion of the program.

ECO 506 - Directed Research I (Half-Term)

Students develop a research question and present results in class, supervised by two faculty members. Each student presents three times: on the research question and motivation; literature review and data or modeling plan, and on the final proposal. By the end of the term, students must submit a plan for research, which must be approved by the supervising faculty members.

ECO 507 - Introduction to Macro-Finance

This course is geared towards (i) understanding how finance and the macro economy interact with each other, and (ii) introducing micro-empirical techniques and data sets for answering traditional macro questions. The focus of the class is empirical but we begin each topic with a discussion of its theoretical foundation.

ECO 508 - Directed Research II (Half-Term)

Students carry out research on a topic and present results in class, supervised by two faculty members. Classmates will provide feedback and suggestions for improvement. Course culminates in a written draft. ECO 506 (Directed Research I) in the fall is a prerequisite.

ECO 509 - Experimental Economics

Topics vary from year to year reflecting, among other things, current developments and the instructor's interests. General areas covered include experimental design and methodology, analysis of experimental data, as well as specific topics of experimental investigation, such as social learning, public goods, auctions, and collective action.

ECO 511 - Advanced Economic Theory I

Topics vary from year to year reflecting, among other things, current developments and the instructor's interests. Topics covered in past years have included expected and nonexpected utility theory, intertemporal general equilibrium theory, evolutionary game theory, dynamic games, contract theory, theory of organizations, and bounded rationality.

ECO 512 - Advanced Economic Theory II

Topics vary from year to year. See 511.

ECO 513 - Advanced Econometrics: Time Series Models

Concepts and methods of time series analysis and their applications to economics. Time series models to be studied include simultaneous stochastic equations and VAR, ARIMA, and state-space models. Methods to analyze trends, second-moment properties via the auto covariance function and the spectral density function and methods of estimation and hypothesis testing and of model selection are presented. Kalman filter and applications as well as unit roots, cointegration, ARCH, and structural breaks models are also studied.

ECO 514 - Game Theory

Course provides a broad treatment of game theory and its applications, particularly in economics. Coverage includes topics such as common knowledge and rationality, refinements of the Nash equilibrium, auctions, bargaining, mechanism design, dynamic games, and reputation. This follows up on the introduction to game theory provided in the microeconomic sequence.

ECO 515 - Econometric Modeling

The construction, estimation, and testing of econometric models as a process, from theory to model formulation to estimation and testing and back again to theory. Bridging the gap between theory and applied work. A series of topics in macroeconomic time series and microeconomic cross-sectional analysis that include consumption at the household and aggregate level, commodity prices, and nonparametric and parametric estimation.

ECO 516 - Behavioral Economics

This course covers a variety of topics and models that incorporate findings and concepts from psychology into economic analysis. The course addresses both experimental evidence and formal modeling. Themes studied may include social preferences (fairness, reciprocity), intrinsic vs. extrinsic motivation, self-control, motivated beliefs (overoptimism, wishful thinking), reference-dependent preferences (loss aversion, prospect theory), imperfect memory and attention, and bounded rationality (cognitive limitations, choice overload, satisficing).

ECO 517 - Econometric Theory I

A first-year course in the first-year econometrics sequence, it is divided into two parts. The first gives students the necessary background in probability theory and statistics. Topics include definitions and axioms of probability, moments, some univariate distributions, the multivariate normal distribution, sampling distributions, introduction to asymptotic theory, estimation and testing. The second introduces the linear regression model and develops associated tools. Properties of the ordinary least squares estimator will be studied in detail and a number of tests developed.

ECO 518 - Econometric Theory II

This course begins with extensions of the linear model in several directions: (1) predetermined but not exogenous regressors; (2) heteroskedasticity and serial correlation; (3) classical GLS; (4) instrumental variables and generalized method of moments estimators. Applications include simultaneous equation models, VAR's and panel data. Estimation and inference in nonlinear models are discussed. Applications include nonlinear least squares, discrete dependent variables (probit, logit, etc.), problems of censoring, truncation and sample selection, and models for duration data.

ECO 519 - Advanced Econometrics: Nonlinear Models

Economics 519 is half of the second-year sequence in econometrics methodology (Economics 513 is the other). The course covers nonlinear statistical models for the analysis of cross-sectional and panel data. It is intended both for students specializing in econometric theory and for students interested in applying statistical methods to statistical data. Approximately half of the course is devoted to development of the large-sample theory for nonlinear estimation procedures, while the other half concentrates on application of the methods to econometric models for discrete and limited dependent variables.

ECO 520 - Economics and Politics (also POL 577)

Focused on analytical models of political institutions, this course is organized around canonical models and their applications. These include voting models, menu auctions, models of reputation, and cheap talk games. These models are used to explain patterns of participation in elections, institutions of congress, lobbying, payments to special interest groups, and other observed phenomena.

ECO 521 - Advanced Macroeconomic Theory I

Topics vary from year to year, reflecting current developments and the instructor's interests. Topics covered in the past years have included methods of numerical analysis and econometric testing of equilibrium business cycle models, the role of monetary and fiscal policy in inflation determination, the nature of optimal monetary policy, and dynamic games and time consistency in macroeconomic policy formation, central banking, and theories of price stickiness.

ECO 522 - Advanced Macroeconomic Theory II

A continuation of Economics 521. Topics vary from year to year.

ECO 523 - Public Finance I

A microeconomic examination of the role of government in the economy. Topics include the theory and measurement of excess burden, optimal tax theory, the analysis of tax incidence, and an examination of the effects of taxation on behavior.

ECO 524 - Public Finance II

The course examines the collective-decision mechanisms through which government policy is formulated, with an emphasis both on theoretical models of social choice and positive studies of governmental decision making. Additional topics include social insurance and the study of intergovernmental fiscal relations, with attention given to the division of functions among levels of government and basic issues in state and local finance.

ECO 525 - Asset Pricing (also FIN 525)

Asset pricing in competitive markets where traders have homogeneous information as well as empirical tests of asset-pricing models and associated "anomalies" are also surveyed. Measures of riskiness and risk aversion; atemporal asset-pricing models; dynamic portfolio choice; option pricing; and the term structure of interest rates, corporate investment and financing decisions, and taxation are studied.

ECO 526 - Corporate Finance (also FIN 526)

Theories and empirical evidence regarding financial markets and institutions that focus on asymmetric information, transaction costs, or both; and rational expectation models of asset pricing under asymmetric information, dynamic models of market making, portfolio manager performance evaluation, principal-agent models of firm managerial structure, takeover bids, capital structure, and regulation of financial markets are studied.

ECO 527 - Financial Modelling (also FIN 527)

Advanced asset pricing and corporate finance including a selection from: models of financial crises and bubbles; interaction between finance and macroeconomics, derivative pricing in incomplete markets; tests of asset pricing models and associated anomalies; models of investor behavior; financial econometrics, including tests of asset pricing models and methods for high frequency data. Pre-requisites: ECO 525 and 526 (526 may be taken concurrently).

ECO 528 - Macroeconomic Perspectives on Inequality

The course covers research topics that require the use of dynamic macroeconomic models with heterogeneous agents (households, firms, financial intermediaries, etc.). The methodological emphasis is both (a) on the coherent construction of the models and (b) on their parameterization and numerical solution. ECO 504 is a prerequisite.

ECO 529 - Financial and Monetary Economics

The Great Recession led to a transformational rethinking of Monetary Economics. This course covers the interaction between monetary policy and macro-prudential policy as well as spillover analysis and the implications for the international financial architecture. Goals are to learn about new research trends and contrast them with the established New Keynesian framework. The course introduces new advanced tools, including formal modeling, economic dynamical systems in continuous time, strategic interactions, asymmetric information, and modern welfare analysis.

ECO 531 - Economics of Labor

An examination of the economics of the labor market, especially the forces determining the supply of and demand for labor, the level of unemployment, labor mobility, the structure of relative wages, and the general level of wages.

ECO 532 - Topics in Labor Economics

The course surveys both the theoretical literature and the relevant empirical methods and results in selected current research topics in labor economics.

ECO 541 - Industrial Organization and Public Policy

Methods for empirical and theoretical analysis of markets composed of productive enterprises and their customers are studied. Analyses are applied to modern market structures and practices and the public policy toward them. Topics include the roles of technology and information; the structure of firms; modes of interfirm competition; determination of price, quality, and research and development investment; and criteria for government intervention.

ECO 542 - Industrial Organization and Public Policy II

Theoretical and empirical study of the public regulation and deregulation of rate of return, prices, and entry in public utilities and franchise oligopolies. Theory and practice of antitrust policy is examined, including some elements of antitrust law. In addition, regulation of product quality, advertising, and safety is examined. This course draws heavily on material developed in 541.

ECO 543 - Industrial Organization & Public Policy III (Half-Term)

This half-course discusses empirical work on imperfect competition among firms: how to implement empirical methods as well as how to read empirical papers. The first section of the course considers applications that apply tools covered in previous courses from the IO sequence to consider issues such as antitrust (particularly merger policy) and price discrimination. The next section covers the issues and tools involved with estimating partially identified models. The third section of the course looks at several different topics from an empirical point of view, particularly those centered around vertical markets.

ECO 551 - International Trade I

The determinants of foreign trade: (1) intercountry differences of factor endowments and technologies and (2) scale economies and imperfect competition are studied. Dynamic comparative advantage; innovation and growth; factor movements and multinational corporations; gains from trade; tariffs and quantitative restrictions on trade and their role in dealing with market failures and oligopolies; the political economy of trade policy; international negotiations on trade policy; and economic integration are studied as well.

ECO 552 - International Trade II

A continuation of Economics 551, with emphasis on current research issues. Topics vary from year to year.

ECO 553 - International Monetary Theory and Policy I

Course develops core models of international finance and open-economy macroeconomics and surveys selected current research topics in the field. Topics include investment and the current account, international capital market integration, international transmission of business cycles, international borrowing and default, the determination of nominal and real exchange rates, monetary and fiscal policy in the open economy, alternative exchange rate arrangements, and policy interdependence and coordination.

ECO 554 - International Monetary Theory and Policy II

Advanced topics in monetary economics, with an emphasis on open economies. Price-level and exhange-rate determination under alternative monetary policy rules; money demand and currency substitution; real effects of monetary disturbances; exchange-rate policy and macroeconomic stability; welfare effects of exchange rate stability; advantages and disadvantages of monetary union.

ECO 562 - Economic Development I

An examination of those areas in the economic analysis of development where there have been recent analytical or empirical advances. Emphasis is given to the formulation of theoretical models and econometric analysis and testing. Topics covered include models of household/farm behavior, savings behavior, equity and efficiency in pricing policy, project evaluation, measurement of poverty and inequality, and the analysis of commodity prices.

ECO 563 - Economic Development II

Selected topics in the economic analysis of development beyond those covered in 562. Topics are selected from theoretical and empirical models of economic growth, trade, and international finance; health and education policy; innovation in agriculture in developing countries; private and social security systems; and the political economy of development. Prerequisite: 562.

ECO 565 - Health Economics I

Examines health issues in the developed world. Specific topics include the evolution of health over the life course; the fetal origins hypothesis; the two-way links between socioeconomic status and health; the impact of social safety nets on health outcomes; environmental threats to children¿s health and development; health insurance and its effects on health; the industrial organization of health care delivery. Prerequisites: PhD-level microeconomics and econometrics.

ECO 566 - Health Economics II

Examines issues in global health. Specific topics include effects of health on growth and development; health, nutrition and productivity; the relationship between health and height; the relationship between education and health; structural problems in health service delivery in developing countries; and the impact of the AIDS crisis on economic wellbeing; measurement of health and well-being around the world. Prerequisites: PhD-level microeconomics and econometrics.

ECO 581A - Microeconomics Theory Workshop

Drafts of papers, articles, and chapters of dissertations or books, prepared by graduate students, faculty members, or visiting scholars, are exposed to critical analysis by a series of seminars organized by field. The chief objectives are for the writers to receive the benefit of critical suggestions, for all participants to gain experience in criticism and uninhibited oral discussion, and for students and faculty members to become acquainted with the research work going on in the department. Third- and fourth-year graduate students are expected to attend; first-and second-year students and faculty members are invited to attend.

ECO 581B - Industrial Organization Workshop

Drafts of papers, articles, and chapters of dissertations or books, prepared by graduate students, faculty members, or visiting scholars, are exposed to critical analysis by a series of seminars organized by field. The chief objectives are for the writers to receive the benefit of critical suggestions, for all participants to gain experience in criticism and uninhibited oral discussion, and for students and faculty members to become acquainted with the research work going on in the department. Third- and fourth-year graduate students are expected to attend; first-and second-year students and faculty members are invited to attend.

ECO 581C - Macroeconomics/International Finance Workshop

Drafts of papers, articles, and chapters of dissertations or books, prepared by graduate students, faculty members, or visiting scholars, are exposed to critical analysis by a series of seminars organized by field. The chief objectives are for the writers to receive the benefit of critical suggestions, for all participants to gain experience in criticism and uninhibited oral discussion, and for students and faculty members to become acquainted with the research work going on in the department. Third- and fourth-year graduate students are expected to attend; first-and second-year students and faculty members are invited to attend.

ECO 581D - Labor Economics/Industrial Relations Seminar

Drafts of papers, articles, and chapters of dissertations or books, prepared by graduate students, faculty members, or visiting scholars, are exposed to critical analysis by a series of seminars organized by field. The chief objectives are for the writers to receive the benefit of critical suggestions, for all participants to gain experience in criticism and uninhibited oral discussion, and for students and faculty members to become acquainted with the research work going on in the department. Third- and fourth-year graduate students are expected to attend; first-and second-year students and faculty members are invited to attend.

ECO 581E - Research Program in Development Studies

Drafts of papers, articles, and chapters of dissertations or books, prepared by graduate students, faculty members, or visiting scholars, are exposed to critical analysis by a series of seminars organized by field. The chief objectives are for the writers to receive the benefit of critical suggestions, for all participants to gain experience in criticism and uninhibited oral discussion, and for students and faculty members to become acquainted with the research work going on in the department. Third- and fourth-year graduate students are expected to attend; first-and second-year students and faculty members are invited to attend.

ECO 581F - Trade Workshop

Drafts of papers, articles, and chapters of dissertations or books, prepared by graduate students, faculty members, or visiting scholars, are exposed to critical analysis by a series of seminars organized by field. The chief objectives are for the writers to receive the benefit of critical suggestions, for all participants to gain experience in criticism and uninhibited oral discussion, and for students and faculty members to become acquainted with the research work going on in the department. Third- and fourth-year graduate students are expected to attend; first-and second-year students and faculty members are invited to attend.

ECO 581G - Econometric Research Seminar

Drafts of papers, articles, and chapters of dissertations or books, prepared by graduate students, faculty members, or visiting scholars, are exposed to critical analysis by a series of seminars organized by field. The chief objectives are for the writers to receive the benefit of critical suggestions, for all participants to gain experience in criticism and uninhibited oral discussion, and for students and faculty members to become acquainted with the research work going on in the department. Third- and fourth-year graduate students are expected to attend; first-and second-year students and faculty members are invited to attend.

ECO 581H - Civitas Foundation Finance Seminar

Drafts of papers, articles, and chapters of dissertations or books, prepared by graduate students, faculty members, or visiting scholars, are exposed to critical analysis by a series of seminars organized by field. The chief objectives are for the writers to receive the benefit of critical suggestions, for all participants to gain experience in criticism and uninhibited oral discussion, and for students and faculty members to become acquainted with the research work going on in the department. Third- and fourth-year graduate students are expected to attend; first-and second-year students and faculty members are invited to attend.

ECO 581J - Behavioral Economics Workshop

Seminar led by different guest professors each week to discuss their current research in the field of Behavioral Economics

ECO 581K - Political Economy Workshop

Seminar led by different guest professors each week to discuss their current research in the field of Political Economy. Third and fourth year graduate students are expected to attend; first and second year graduate students and faculty members are invited to attend.

ECO 585 - Extramural Summer Research Project

Summer research project designed in conjunction with a faculty advisor and an industrial, NGO, or governmental sponsor that will provide relevant research experience. A final paper is required.

POL 584 - Foundations of Political Economy (also ECO 576)

Course focuses on modeling the interaction of politics and economics, with applications to a variety of substantive areas. Topics include: poltics of taxation and redistribution; governmental structure, political economy of constitutional arrangements, development, and growth. Familiarity with microeconomic theory and POL 575 or the equivalent are prerequisites.