Microeconomics is the study of how agents make optimal choices when facing constraints. Students may count either ECON 13000 or ECON 23950, but not both, toward the 42 credits required for graduation. To be considered for honors in economics, students must meet the following requirements: (1) a GPA of 3.5 or higher in the major and a GPA of 3.2 or higher overall, (2) participation in the honors workshop and sole authorship of an independent research paper on a topic in economics, and (3) a faculty sponsor's letter evaluating this independent research paper. ECON28620. However, completion of the full calculus sequence is not required for the Specialization in Business Economics. Instructor(s): J. RootTerms Offered: Autumn The objective of the course is to train students with analytical tools in macroeconomics so that they can understand, analyze, and evaluate various policies and policy proposals. Its a delightful story of a young girl whose love of reading leads to her developing fantastical powers. Students in this course will become proficient in formulating relevant managerial questions in the language of optimization and simulation modeling, as well as in solving the resulting problems using the frameworks covered in the course and interpreting the results. Applications include labor questions such as labor supply, wage inequality decompositions and matching between workers and firms. Instructor(s): R. FangTerms Offered: Winter The business environment creates ethical choices that can be hard to think through clearly. Students who complete the empirical methods component of the major with just two courses (ECON21010 Statistical Methods in Economics andECON21020 Econometrics) must complete an additional economics elective, as discussed in Electives. To answer these questions, we study Games of Strategies, and explore how lessons learned from such games can guide one's thinking in everyday strategic interactions. This course will focus on the intersection of two rapidly growing and recently Nobel Prize-winning fields in economics - development, and behavioral economics. Students are required to write short papers applying the models presented in the course to real-world situations in the context of business. The field of economics has generated a powerful set of insights which have fundamentally shaped the modern world. Instructor(s): StaffTerms Offered: TBD The goal is to provide an introduction to macroeconomic issues for people who have never before studied macroeconomics (and who might never study it again), so that they can understand and contribute to ongoing discussions in the news and on social media. A note on professional school courses: The rules of the College allow students to use no more than four courses from professional schools (e.g., BUSN 3XXXX-level/4XXXX-level courses, Harris Public Policy, etc.) The remaining ECON elective must be completed with the UChicago Department of Economics. At this year's virtual Economic Outlook Chicago, leading University of Chicago economists Austan D. Goolsbee, Randall S. Kroszner and Raghuram G. Rajan of Chicago Booth had plenty to discuss as they forecasted what lies ahead for 2022. This course develops the economic theory of consumer choice. In the first part, we discuss time series methods such as impulse response analysis, vector autoregression, co-integration, shock identification, and business cycle detrending. Consult the Chicago Booth website for details. The New Economics of Debt and Financial Fragility, The Troubling Rise of Financiers in US Higher Education, The Economics of Immigration in an Age of Fear, Market Monetarism, the Great Recession, and the Future of Monetary Policy. Marketing decisions in the era of big data are increasingly based on a statistical analysis of large amounts of transaction and customer data that provides the basis for profitability and ROI predictions. 100 Units. ECON29200. One study abroad course may be petitioned to count toward the Perspectives requirement, and one study abroad course may be petitioned to count toward the ECON elective requirement. The specialization in business economicsis organized around the fundamental economic theory and empirical methods that students interested in pursuing careers in the private sector, the non-profit sector, and the public sector (among others) will find useful. Students preparing to pursue a PhD program in economics should complete advanced course work in economics, mathematics, statistics, and computer science. This course looks at areas in which some modification of the traditional rational choice apparatus might most be warranted; these include decisions that unfold over time, involve low probability events, or implicate willpower. The course also includes periodic focus on the financial accounting ramifications of tax planning. Instructor(s): M. GolosovTerms Offered: TBD Health Economics and Public Policy. We introduce both independent private-value models and interdependent-value models with affiliated signals. Completion of ECON 10000 (or ECON 19800) is strongly recommended of students without a prior microeconomics course. How high should we set taxes? It is important that such students consult early in the second year with one of the directors of the undergraduate program to design a plan of course work and research. We will study models of how individuals make decisions, and how those decisions are shaped by strategic concerns and uncertainty about the world. We will use real-life data to learn about consumers and firms. test. If you're feeling a little cooped up at home this summer, try escaping with a good bookwith some help from University of Chicago faculty. I know these books might not be everyones jam, and thats totally okay! Necessary tools from linear algebra and statistics will be reviewed as needed. Economics in a Globalized World. ECON19000. Prerequisite(s): ECON 20100/20110 and ECON 21020/21030. This is a hands-on course in behavioral economics. Ranked in 2022, part of Best Social Sciences and Humanities Schools. Instructor(s): D. Pope; A. ImasTerms Offered: Spring Introduction to Advanced Macroeconomic Analysis. 100 Units. BUSN20702. Data Driven Marketing. This course covers economic theories and topical issues in money and banking. Fax: 773-702-3562. Prerequisite(s): ECON 20100 or 20110. This course develops tools for analyzing how these optimal choices change when relative prices and consumer incomes change. Refer to FAQ webpage for registration and schedule details: https://tinyurl.com/y8wz3oge. Early final grades will be given for graduating students in BUSN 2XXXX-level courses. Spring Students are strongly encouraged to complete ECON10000 Principles of Microeconomics prior toECON20000 The Elements of Economic Analysis I(orECON20010 The Elements of Economic Analysis I Honors) and ECON10200 Principles of Macroeconomics prior toECON20200 The Elements of Economic Analysis III(orECON20210 The Elements of Economic Analysis III Honors). Sample reading list To help you decide whether Oxford's Economics & Management programme is right for you, we provide below a list of the kinds of articles and books that have previously been part of the first year . Assessment will be based on problem sets, a midterm and a final. Winter. Development Economics and Data Analysis. Graduate courses in other departments may also be used subject to the rules stipulated in the College Catalog. Among the applications we will consider are auctions, collusion, entry deterrence, and strategic communication. Instructor(s): StaffTerms Offered: Autumn Contact juliew@uchicago.edu for appointments. Refer to FAQ webpage for registration and schedule details: https://tinyurl.com/y8wz3oge. At the end of the course, you will have a suite of research approaches, topics, and methods, to investigate gender differences in a variety of economic outcomes and contexts. Econometrics and Machine Learning. ECON15010. Instructor(s): P. PenaTerms Offered: Spring Economics and Environmental Policy. The second portion of the course will focus on machine learning topics including linear regularization, cross validation, tree models, random forests and boosting. While the course content may change from year to year according to student and instructor interests, some potential topics are panel data methods, treatment effects/causal inference, discrete choice/limited dependent variable models, demand estimation, and topics in economic applications of supervised and unsupervised learning algorithms. This class covers recent work in behavioral economics. Econometrics II-Honors. Focus will also be placed on government policies affecting these topics, including so-called household financial engineering, the creation of Government Sponsored Enterprises (GSEs) like "Fannie" and "Freddie," and regulatory agencies like the Consumer Financial Protection Bureau (CFPB). Introduction to Public Sector Economics. ECON23200. ECON15500. In recent years, our graduates have been admitted for the PhD in Economics at UChicago, LSE, Duke, Maryland, UPenn, Columbia, UCLA, Brown, Minnesota, Stanford, Northwestern, Texas-Austin, Erasmus University Rotterdam, UC-Davis, Simon Fraser, Boston University, Wisconsin-Madison, Princeton, Caltech, Cornell, and University College London. Cannot enroll in BUSN 20400 if BUSN 35000 Investments taken previously, and vice versa. ECON21830. Students will learn about theory, estimation, optimization, and practical considerations. Topics include discrimination and inclusion in education, understanding factors that influence educational decisions, provision of basic needs in schools, teacher pay and incentives, education in emergency settings, and school choice. Instructor(s): T. LamadonTerms Offered: Winter 100 Units. Household Finance: Theory and Applications. The candidate is welcome to take advantage of immersion in the Chicago Economics community and to attend (with permission) PhD-level economics courses at Chicago, as well as both student and faculty research workshops. The course studies public policy issues in the world from both micro- and macroeconomic perspectives. This is a non-Booth course offered under the ECON 28620 course number. The BUSN 3XXXX-level (and higher) courses will be subject to Chicago Booth's academic and administrative policies. Using tools and methods in economics, we will study issues in macroeconomics and international trade and finance. Instructor(s): M. DinersteinTerms Offered: Spring How should one bid at an auction in order to win at the lowest possible hammer price? 100 Units. Instructor(s): StaffTerms Offered: Winter In order to satisfy the empirical methods component of the economics major using a three-quarter sequence, students must complete the following courses. Through examples in economics, the course covers topics such as optimization, function approximation, and monte carlo techniques. Are countries in competition with one another, making one a winner and another a loser, or is trade mutually beneficial? The course provides both a framework and the tools necessary to analyze financial statements. Instructor(s): J. BirgeTerms Offered: Winter Instructor(s): A. Zhang; Q. VandeweyerTerms Offered: Spring Advanced undergraduate students may use economics master's-level (ECMA) courses to satisfy the major elective requirements. Industrial Organization Reading List. Prerequisite(s): ECON 20100/20110; ECON 21010, or STAT 23400/24400/24410 and MATH 19620 (or MATH 20000 or STAT 24300 or MATH 20250). Prerequisite(s): ECON 10000 or ECON 20000 or ECON 20010 or PBPL 22200. Evening and weekend residential program activities will enable students to experience American life and culture and explore the vibrant city of Chicago. Techniques will be introduced in the context of business applications and the emphasis will be put on how machine learning can be used to create value and provide insights from data. To what extent should public policy respond to shortfalls from rationality or concern itself with promoting happiness? Students will learn the underlying theory for each pricing structure, along with the practical considerations for implementation. Happy reading. For summaries of requirements for the BA in economics (Tracks A and B), see below. tinyurl.com/y8wz3oge. Prerequisite(s): This course is not open to MBA students. Developing an accurate understanding of these factors, however, can be difficult to achieve because intuitions are often misguided and unstructured experience can be a poor teacher. The theory is complemented with historical evidence from different countries and periods. Financial Econometrics. 100 Units. Students will provide their preferences for assignment from a list of preselected ideas. Decision and Strategy II. Cannot enroll in BUSN 20600 if BUSN 37000 Marketing Strategy taken previously, and vice versa. Students will be introduced to simplified theoretical models with which to analyze data, relevant empirical findings, and policy decisions. Main research topics: Geology, Ecology, Geography and Cartography, Meteorology and Atmospheric Science, Petrology and Geochemistry. This course will help students develop an understanding of issues in international macroeconomics that are important for investors and managers operating in the global marketplace. Prerequisite(s): ECON 20100/20110 and MATH 20300/20310/20700. Today, Ill be walking you through some of my favorite reads from my time here at UChicago. Why do the Republicans and the Democrats almost always ended up choosing moderates as their party nominees in presidential races? This course provides the necessary tools to be an avid consumer of the experimental literature and instructs students on how to become a producer of that literature. Prerequisite(s): ECON 20100 or 20110. Terms Offered: Autumn,Spring,Summer,Winter Prerequisite(s): By consent of instructor and approval of department counselor. Equivalent Course(s): PBPL 28805. Students may enroll in both BUSN 20340 and BUSN 34104 Special Topics in Entrepreneurship: Developing a New Venture (New Venture Challenge), but may receive credit for only one within the Entrepreneurship bundle of the business economics specialization. Financial Statement Analysis. Develop a builder's eye for problems that can be solved with technology. Instructor(s): A. Torgovitsky, E. RoseTerms Offered: Spring Students do reading and research in an area of computer science under the guidance of a faculty member. Note(s): Student may count only one of [ECON 10700 or ECON 20700 or ECON 20770] toward the 42 credits required for graduation. Instructor(s): StaffTerms Offered: Autumn 100 Units. We continue the formal introduction to decision theory and game theory begun in ECMA 30780, with a specific focus on models of incomplete information. In order to satisfy the empirical methods component of the economics major using a two-quarter sequence, students must complete the following: Students should not begin the empirical methods sequence earlier than concurrently with ECON20100 The Elements of Economic Analysis II and should take ECON21010 Statistical Methods in Economics andECON21020 Econometrics in consecutive quarters. First year students may enroll in Econ 20000 concurrently with Math 16300/16310 if they have received an A/A- in both Math 16100/16110 and Math 16200/16210. 100 Units. Prerequisite(s): This course is not open to MBA students. You will be able to request some of those for Autumn, if you like. Booth Book Fee may be assessed. These methods courses include offerings in basic price theory, game theory, and experimental methods. Most students will complete the economic policy requirement with ECON23950 Economic Policy Analysis, but students interested in learning more formal approaches may use one of the other macroeconomics courses listed below to satisfy the requirement. Students will learn how to raise seed funding, compensate for limited human and financial resources, establish brand values and positioning, secure a strong niche position, determine appropriate sourcing and sales channels, and develop execution plans in sales, marketing, product development and operations. Empirical findings suggest that there exists a positive correlation between inequality and immobility. Students will have passed through the first round of the College New Venture Challenge, and will be developing their own original new business ideas. The World's Newest Profession: Management Consulting in the Twentieth University of Chicago, private, coeducational university, located on the south side of Chicago, Illinois, U.S. One of the United States's most outstanding universities, the University of Chicago was founded in 1890 with the endowment of John D. Rockefeller. Our health and well-being depend on others. Prerequisite(s): Econ 10200/19900/20200/20210 Instructor(s): S. Levitt This course will be proof-based, so is appropriate for advanced students acquainted with formal mathematical reasoning. All first year college students are restricted from enrolling into this course. Instructor(s): StaffTerms Offered: Autumn This program introduces students to the approaches to economic research and experimentation that make UChicago a world leader in the field. Innovation taken previously, and vice versa. ECON26040. The form will remain open through week 1, and will therefore act as the waitlist for the course. Introduction to Issues and Methods in Macroeconomics. All first year college students are restricted from enrolling into this course. This course will provide an introduction to state-of-the-art methodologies in Empirical Industrial Organization. Instructor(s): R. Shimer Refer to FAQ webpage for registration and schedule details: https://tinyurl.com/y8wz3oge. Non-majors may take economics courses on a P/F basis; only grades of C or higher constitute passing work. 100 Units. See all majors. Equivalent Course(s): PBPL 23420. Evening and weekend residential program activities will enable students to experience American life and culture and explore the vibrant city of Chicago. As an introduction to macroeconomic theory and policy, this course covers the determination of aggregate demand (i.e., consumption, investment, the demand for money); aggregate supply; and the interaction between aggregate demand and supply. Students taking MATH 13000s calculus sequence must complete MATH 13300 prior to enrollment in ECON 20000/20010 and may take MATH 15250 concurrently with ECON 20000/20010. The University of Chicago College curriculum has three components: general education requirements (1500 units), a major (1000-1900 units), and electives (800-1700 units). We will examine these questions by applying the tools of economics to the best available data. Practice is provided in understanding recent international economic events and current policy topics. About John A. 100 Units. It spans diverse species and disciplines (evolution, neuroscience, psychology, behavioral economics, political science). Courses in other degree programs may be considered for elective credit through petition. Instructor(s): StaffTerms Offered: TBD Why do farmers not adopt new technologies that generate higher yields? First-year students must also pass the economics placement exam or complete ECON 10000 (or ECON 19800). Students who have taken a BUSN 2XXXX-level course cannot enroll in the 3XXXX-level (or higher) equivalent course and vice-versa. Equivalent Course(s): ECMA 30770. The economic policy requirement provides students the opportunity to apply methods and tools taught in the economics core sequence to analyze current issues centered around monetary and fiscal policy. Prerequisite(s): CMSC 12300/14200/15200/16200 and ECON 21020 (ECON 21030 Honors Econometrics preferred). Instructor(s): Meltzer, DTerms Offered: Spring Instructor(s): D. MaestripieriTerms Offered: Autumn These courses should not be taken in the student's graduating quarter unless the student will have completed all graduation requirements, irrespective of the BUSN 2XXXX-level course. The Books Division of the University of Chicago Press has been publishing books for scholars, students, and general readers since 1892. Equivalent Course(s): HLTH 22350, BIOS 24137, PSYC 22350, NSCI 21000, CHDV 22350. Courses in the University of Chicago Booth School of Business. We discuss how repeated measurements can help with problems related to unobserved heterogeneity and measurement error, and how they can be applied to panel and network data. African and Caribbean Student Association. Terms Offered: TBD Social Neuroscience. 100 Units. In this course, we will explore these big economic ideas, without the math.