Graduate Advanced Microeconomics Sequence
Core Curriculum
(1) Advanced Microeconomics I: Theories of Consumers, Producers, and Markets
Text books:
Advanced Microeconomic Theory, G. A. Jehle, and P. Reny, Addison-Wesley, 1998.
Microeconomic Theory, A. Mas‑Colell, M. D. Whinston, and J. Green, Oxford University Press, 1995.
Microeconomic Analysis, H. R. Varian, W. W. Norton and
Company, third edition, 1992.
Possible instructors: lecturers from SUFE, Hao LI, Cheng-Zhong Qin, Guoqiang Tian.
(2) Advanced Microeconomics II: Game Theory, Risk and Uncertainty, Information Economics.
Microeconomic Theory, A. Mas‑Colell, M. D. Whinston, and J. Green, Oxford University Press, 1995.
Advanced Microeconomic Theory, G. A. Jehle, G. A., and P. Reny, Addison-Wesley, 1998.
The Theory of Incentives: The Principal-Agent Model, J.-J. Laffont, and D. Martimort, Princeton and Oxford: Princeton University Press, 2002.
Possible instructors: Cheng-Zhong Qin, Guofu Tan, Guoqiang Tian, Quan Wen, Lin Zhou.
(3) Advanced Microeconomics III: General Equilibrium Theory, Social Choice and Mechanism Design
Microeconomic Theory, A. Mas‑Colell, M. D. Whinston, and J. Green, Oxford University Press, 1995.
Advanced Microeconomic Theory, G. A. Jehle, G. A., and P. Reny, Addison-Wesley, 1998.
Theory of Implementation of Socially Optimal Decisions in Economics, L.C. Corchon, Macmilian Press, Ltd., 1996.
Possible instructors: Cheng-Zhong Qin, Guoqiang Tian, Lin Zhou
This curriculum is pretty much similar to the one adopted at the top departments at US. Textbooks for each course have been suggested. All students are required to take Microeconomics I. Doctoral students must also take Microeconomics II and III and read many papers to supplement the textbooks.
Graduate Macroeconomics
Core Curriculum
(1) Macroeconomics I:
Text book:
A. Blanchard, O. and Fischer, S. 1989. Lectures on Macroeconomics. Cambridge: MIT Press.
B. Romer, D. 1996. Advanced Macroeconomics. McGraw-Hill Companies, Inc.
C. Azariadis, C. 1993. Intertemporal Macroeconomics, Cambridge, Mass.: Blackwell.
Possible instructors: Guan Gong, Xiaodong Huang,Yi Wen, Danyang Xie, Tao Zhu
(2) Macroeconomics II:
This course is an extension of Macroeconomics I. It will present stochastic growth model, search and matching model, and incomplete market models with multiple equilibrium and indeterminacy. The methods presented in the course include calibration and simulation.
Text book:
A. Barro, R. and Sala-i-Martin, X. 1995. Economic Growth, McGraw-Hill.
B. Ljungqvist, L. and T. Sargent. 2000. Recursive Macroeconomic Theory. Cambridge: MIT Press.
Possible instructors: Guan Gong, Shaoyong Shi, Yi Wen, Danyang Xie, Tao Zhu.
(3) Macroeconomics III:
This is the advanced course in the unified master-doctoral macroeconomics sequence. The focus is on the monetary and fiscal policy issues. The topics include money and aggregate fluctuations, government debt, dynamic inconsistency, optimal tax with or without commitment, and social insurance.
Text book:
A. Stokey, N. and R. Lucas with E. Prescott. 1989. Recursive Methods in Economic Dynamics. Cambridge: Harvard University Press.
B. Ljungqvist, L. and T. Sargent. 2000. Recursive Macroeconomic Theory. Cambridge: MIT Press.
Possible instructors: Guan Gong, Xiaodong Huang, Shaoyong Shi, Cheng Wang, Yi Wen
This curriculum is pretty much similar to the one adopted at the top departments at US. Textbooks for each course have been suggested. A large amount of papers should be used to supplement the textbooks. In order for student to have a good sense of the overall economy in the real world, both macro theory and applied empirical macro should be emphasized so as to guide the students to establish connections between frontier macro models and the macroeconomic reality in China.
Graduate Econometrics
Core Curriculum
(4) Econometrics I: Statistics and classical linear regression
Self-contained introduction to probability and statistics as background for advanced econometrics. Elements of probability theory; sampling theory; asymptotic approximations; decision theory approach to statistical estimation focusing on regression, hypothesis testing, and maximum-likelihood methods. Specification and estimation of the linear regression model. Illustrations from economics and application of these concepts to economic problems.
Require students to be able to use software to run basic least squares, and to replicate an empirical paper. Students should feel comfortable to download big data sets such as CPS or census, and be able to run least square using these data sets.
Text books:
PROBABILITY AND STATISTICS, DeGroot, M. and M. Schervish, Addison Wesley, 3rd ed. 2002
ECONOMETRIC ANALYSIS OF CROSS SECTION AND PANEL DATA, Jeffrey Wooldridge. MIT Press.
Possible instructors: Chunrong Ai, Zhijie Xiao (Boston College), Li Gan
(5) Econometrics II:
Departures from the standard Guass-Markov assumptions include heteroskedasticity, serial correlation, and errors in variables. Advanced topics include generalized least squares, instrumental variables, nonlinear regression, linear panel regression, and limited dependent variable models.
Require students: (1) to simulate datasets with features such as heteroskedasticity, serial correlation, endogenous independent variables, errors in variables, and limited dependent variables; (2) to estimate the simulated datasets.
Text books:
ECONOMETRIC ANALYSIS OF CROSS SECTION AND PANEL DATA, Jeffrey Wooldridge. MIT Press.
Possible instructors: Chunrong Ai, Yanqin Fan (Vanderbilt), Gan Li
(6) Econometrics III
Generalized method of moments, estimation of censored and truncated specifications and duration models, nonlinear panel data regressions, and quantile regressions, and average treatment effects models.
Require students to write a publishable paper (may be in a good Chinese journal or in an English journal) by (i) extending a publishable paper in a meaningful way with additional data or more complicated model; or (ii) by collecting his/her own data to finish a publishable paper (may be a Chinese journal).
Text books:
ECONOMETRIC ANALYSIS OF CROSS SECTION AND PANEL DATA, Jeffrey Wooldridge. MIT Press, supplemented with journal articles.
THE PRACTICE OF ECONOMETRICS: CLASSIC AND CONTEMPORARY
Possible instructors: Chunrong Ai, Xiaohong Chen (NYU), Qi Li, Yanqin Fan
(7) Econometrics IV (optional)
Micro-econometric models, including large sample theory for estimation and hypothesis testing, generalized method of moments. Nonparametric and semiparametric estimation. Bootstrapping, and simulation methods. Methods illustrated with economic applications.
Text book: ECONOMETRIC ANALYSIS OF CROSS SECTION AND PANEL DATA, Jeffrey Wooldridge. MIT Press, supplemented with journal articles.
Possible instructors: Chunrong Ai, Xiaohong Chen (NYU), Qi Li, Yanqin Fan
(8) Econometrics V (optional)
Theory and application of time series methods in econometrics, including representation theorems, decomposition theorems, prediction, spectral analysis, estimation with stationary and nonstationary processes, VARs, unit root process, and cointegration.
Text book: TIME SERIES ANALYSIS, Hamilton, JD. Princeton University Press
Possible instructors: Zhijie Xiao (Boston College), Jushan Bai (NYU)
This curriculum is pretty much similar to the one adopted at the top departments at US. Textbooks for each course have been suggested. For second and three year courses, some papers should be used to supplement the textbooks. All students are required to take Econometrics I. Doctoral students must also take Econometrics II and III. Students with major in econometrics are also required to take Econometrics IV and V. Finance students and students who plan to write a dissertation in macroeconomics are encouraged to take Econometrics V.
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