chaseharmon/MIT_Course_Catalog · Datasets at Hugging Face

Class Number stringlengths 4 15	Name stringlengths 4 124	Description stringlengths 23 1.14k	Offered bool 2 classes	Term stringclasses 97 values	Level stringclasses 2 values	Units stringclasses 194 values	Prerequisites stringlengths 4 127 ⌀	Equivalents stringlengths 7 63 ⌀	Lab bool 2 classes	Partial Lab bool 2 classes	REST bool 2 classes	GIR stringclasses 7 values	HASS stringclasses 5 values	CI / CI-HW stringclasses 3 values
14.000	Graduate Internship in Economics	For Course 14 students participating in off-campus internship experiences in economics. Before registering for this subject, students must have an employment offer from a company or organization and must identify a Course 14 advisor. Upon completion of the internship, student must submit a letter from the employer describing the work accomplished, along with a substantive final report from the student approved by the MIT advisor. Subject to departmental approval. Consult departmental graduate office.	true	IAP, Summer	Graduate	rranged [P/D/F]	Permission of instructor	null	false	false	false	False	False	False
14.001	Design of Policy Summer Internship	Provides students in the DEDP Master's program the opportunity to synthesize their coursework and professional experience in policy, economics, and data analysis. In the context of a summer internship, students apply the knowledge gained in the program towards a project with a host organization, typically in the development or public policy sectors. Students will be supported in finding a suitable opportunity or research project. All internship placements are subject to approval by the program director. Each student must write a capstone project report. Restricted to DEDP MASc students.	true	Fall, Spring, Summer	Graduate	0-1-0	Permission of department	null	false	false	false	False	False	False
14.003	Microeconomic Theory and Public Policy	Students master and apply economic theory, causal inference, and contemporary evidence to analyze policy challenges. These include the effect of minimum wages on employment, the value of healthcare, the power and limitations of free markets, the benefits and costs of international trade, the causes and remedies of externalities, the consequences of adverse selection in insurance markets, the impacts of labor market discrimination, and the application of machine learning to supplement to decision-making. Class attendance and participation are mandatory. Students taking graduate version complete additional assignments.	true	Fall, Spring	Graduate	4-0-8	14.01 or permission of instructor	null	false	false	false	False	False	False
14.009	Economics and Society's Toughest Problems	Should we trade more or less with China? Why are some countries poor, and some countries rich? Why are the 1% getting richer? Should the US have a universal basic income? Why is our society becoming so polarized? What can we do to mitigate climate change? Will robots take all the jobs? Why does racism persist and how can we fight it? What will the world economy look like after the COVID-19 recession? Economics shows you how to think about some of the toughest problems facing society — and how to use data to get answers. Features lectures by MIT's economics faculty, showing how their cutting-edge research can help answer these questions. In lieu of problem sets, quizzes, or other written assignments, students produce materials of their choice (podcasts, TikToks, longer videos) with the view to make a potential audience excited about economics. Subject can count toward the 6-unit discovery-focused credit limit for first-year students.	true	Fall	Undergraduate	1-0-2 [P/D/F]	null	null	false	false	false	False	False	False
14.01	Principles of Microeconomics	Introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Applications to problems of current economic policy.	true	Fall, Spring	Undergraduate	3-0-9	null	null	false	false	false	False	Social Sciences	False
14.02	Principles of Macroeconomics	Provides an overview of macroeconomic issues including the determination of national income, economic growth, unemployment, inflation, interest rates, and exchange rates. Introduces basic macroeconomic models and illustrates key principles through applications to the experience of the US and other economies. Explores a range of current policy debates, such as the economic effects of monetary and fiscal policy, the causes and consequences of the 2008 global financial crisis, and the factors that influence long-term growth in living standards. Lectures are recorded and available for students with scheduling conflicts.	true	Fall, Spring	Undergraduate	3-0-9	null	null	false	false	false	False	Social Sciences	False
14.03	Microeconomic Theory and Public Policy	Students master and apply economic theory, causal inference, and contemporary evidence to analyze policy challenges. These include the effect of minimum wages on employment, the value of healthcare, the power and limitations of free markets, the benefits and costs of international trade, the causes and remedies of externalities, the consequences of adverse selection in insurance markets, the impacts of labor market discrimination, and the application of machine learning to supplement to decision-making. Class attendance and participation are mandatory. Students taking graduate version complete additional assignments.	true	Fall, Spring	Undergraduate	4-0-8	14.01 or permission of instructor	null	false	false	false	False	Social Sciences	False
14.04	Intermediate Microeconomic Theory	Analysis of consumer and producer decisions including analysis of competitive and monopolistic markets. Price-based partial and general equilibrium analysis. Introduction to game theory as a foundation for the strategic analysis of economic situations. Imperfect competition, dynamic games among firms. Failures of general equilibrium theory and their resolutions: externalities, public goods, incomplete information settings, signaling, screening, insurance, alternative market mechanisms, auctions, design of markets.	true	Fall	Undergraduate	4-0-8	Calculus II (GIR) and 14.01	null	false	false	false	False	Social Sciences	False
14.05	Intermediate Macroeconomics	Uses the tools of macroeconomics to investigate various macroeconomic issues in depth. Topics range from economic growth and inequality in the long run to economic stability and financial crises in the short run. Surveys many economic models used today. Requires a substantial research paper on the economics of long-run economic growth.	true	Fall	Undergraduate	4-0-8	14.01 and (14.02 or permission of instructor)	null	false	false	false	False	Social Sciences	False
14.06	Advanced Macroeconomics	Blends a thorough study of the theoretical foundations of modern macroeconomics with a review of useful mathematical tools, such as dynamic programming, optimal control, and dynamic systems. Develops comfort with formal macroeconomic reasoning and deepens understanding of key macroeconomic phenomena, such as business cycles. Goes on to study more specific topics, such as unemployment, financial crises, and the role of fiscal and monetary policy. Special attention to reviewing relevant facts and disentangling them from their popular interpretations. Uses insights and tools from game theory. Includes applications to recent and historical events.	true	Fall	Undergraduate	4-0-8	14.01 and 14.02	null	false	false	false	False	Social Sciences	False
14.08	Technical Topics in Economics	Considers technical issues of current research interest in economics.	true	Fall, Spring	Undergraduate	4-0-8	14.01	null	false	false	false	False	False	False
14.09	Reading Seminar in Economics	Reading and discussion of particular topics in economics. Open to undergraduate students by arrangement with individual faculty members. Consult Department Headquarters.	true	Fall, IAP, Spring, Summer	Undergraduate	rranged [P/D/F]	14.04 and 14.06	null	false	false	false	False	False	False
14.10	Reading Seminar in Economics	Reading and discussion of particular topics in economics. Open to undergraduate students by arrangement with individual faculty members. Consult Department Headquarters.	true	Fall, IAP, Spring, Summer	Undergraduate	rranged	14.04 and 14.06	null	false	false	false	False	False	False
14.11	Topics in Economics	Considers issues of current research interest in economics.	true	Fall	Undergraduate	4-0-8	14.01	null	false	false	false	False	Social Sciences	False
14.12	Economic Applications of Game Theory	Analysis of strategic behavior in multi-person economic settings. Introduction to solution concepts, such as rationalizability, backwards induction, Nash equilibrium, subgame-perfect equilibrium, and sequential equilibrium. Strong emphasis on dynamic games, such as repeated games. Introduction to Bayesian games, focusing on Bayesian Nash Equilibrium, Perfect Bayesian Equilibrium, and signaling games. Applications drawn from microeconomics: imperfect competition, implicit cartels, bargaining, and auctions.	true	Fall	Undergraduate	4-0-8	14.01 and (6.041B, 14.04, 14.30, 18.05, or permission of instructor)	null	false	false	false	False	Social Sciences	False
14.121	Microeconomic Theory I	Covers consumer and producer theory, markets and competition, general equilibrium and the welfare theorems; featuring applications, uncertainty, identification and restrictions models place on data. Enrollment limited; preference to PhD students.	true	Fall	Graduate	3-0-3	14.04 and permission of instructor	null	false	false	false	False	False	False
14.122	Microeconomic Theory II	Introduction to game theory. Topics include normal form and extensive form games, and games with incomplete information. Enrollment limited.	true	Fall	Graduate	3-0-3	14.121 and permission of instructor	null	false	false	false	False	False	False
14.123	Microeconomic Theory III	Models of individual decision-making under certainty and uncertainty. Additional topics in game theory. Enrollment limited.	true	Spring	Graduate	3-0-3	14.121, 14.122, and permission of instructor	null	false	false	false	False	False	False
14.124	Microeconomic Theory IV	Introduction to statistical decision theory, incentive contracting (moral hazard and adverse selection), mechanism design and incomplete contracting. Enrollment limited.	true	Spring	Graduate	3-0-3	14.123 or permission of instructor	null	false	false	false	False	False	False
14.125	Market Design	Theory and practice of market design, building on ideas from microeconomics, game theory and mechanism design. Prominent case studies include auctions, labor markets, school choice, prediction markets, financial markets, and organ exchange clearinghouses.	true	Spring	Graduate	4-0-8	14.124	null	false	false	false	False	False	False
14.126	Game Theory	Investigates equilibrium and non-equilibrium solution concepts and their foundations as the result of learning or evolution. Studies the equilibria of supermodular games, global games, repeated games, signaling games, and models of bargaining, cheap talk, and reputation.	true	Spring	Graduate	3-0-9	14.122	null	false	false	false	False	False	False
14.127	Advanced Game Theory	For students who plan to do game theory research. Covers the following topics: epistemic foundations of game theory, higher order beliefs, the role and status of common prior assumptions, social networks and social learning, repeated and stochastic games, non-equilibrium learning, stochastic stability and evolutionary dynamics, game theory experiments, and behavioral game theory.	true	Fall	Graduate	4-0-8	null	null	false	false	false	False	False	False
14.129	Advanced Contract Theory	Presents the contract theory, mechanism design, and general equilibrium theory necessary for an understanding of a variety of recent innovations: crypto currencies, digital assets; intermediation through digital big techs; central bank digital currency; and decentralized finance (DeFi) versus centralized exchange and contract platforms. Three broad themes: 1) Take stock of new technologies' characteristic features (distributed ledgers and blockchain, e-transfers, smart contacts, and encryption); 2) Translate these features into formal language; 3) Inform normative questions: Should we delegate programmable contacts to the private sector and the role of public authorities.	true	Spring	Graduate	3-0-3	14.121, 14.281, or permission of instructor	null	false	false	false	False	False	False
14.13	Psychology and Economics	Introduces the theoretical and empirical literature of behavioral economics. Examines important and systematic departures from the standard models in economics by incorporating insights from psychology and other social sciences. Covers theory and evidence on time, risk, and social preferences; beliefs and learning; emotions; limited attention; and frames, defaults, and nudges. Studies applications to many different areas, such as credit card debt, procrastination, retirement savings, addiction, portfolio choice, poverty, labor supply, happiness, and government policy. Students participate in surveys and experiments in class, review evidence from lab experiments, examine how the results can be integrated into models, and test models using field and lab data. Students taking graduate version complete additional assignments.	true	Spring	Undergraduate	4-0-8	14.01	null	false	false	false	False	Social Sciences	False
14.130	Reading Economic Theory	Class will read and discuss current research in economic theory with a focus on game theory, decision theory, and behavioral economics. Students will be expected to make one presentation and to read and post comments on every paper by the day before the paper is presented. Permission of the instructor required, and auditors are not allowed.	true	Fall	Graduate	2-0-10	14.121 and 14.451	null	false	false	false	False	False	False
14.131	Psychology and Economics	Introduces the theoretical and empirical literature of behavioral economics. Examines important and systematic departures from the standard models in economics by incorporating insights from psychology and other social sciences. Covers theory and evidence on time, risk, and social preferences; beliefs and learning; emotions; limited attention; and frames, defaults, and nudges. Studies applications to many different areas, such as credit card debt, procrastination, retirement savings, addiction, portfolio choice, poverty, labor supply, happiness, and government policy. Students participate in surveys and experiments in class, review evidence from lab experiments, examine how the results can be integrated into models, and test models using field and lab data. Students taking graduate version complete additional assignments.	true	Spring	Graduate	4-0-8	14.01	null	false	false	false	False	False	False
14.137[J]	Psychology and Economics	Examines "psychology appreciation" for economics students. Aims to enhance knowledge and intuition about psychological processes in areas relevant to economics. Increases understanding of psychology as an experimental discipline, with its own distinct rules and style of argument. Topics include self-knowledge, cognitive dissonance, self-deception, emotions, social norms, self-control, learning, mental accounting, memory, individual and group behavior, and some personality and psycho-analytic models. Within each of these topics, we showcase effective and central experiments and discuss their role in the development of psychological theory. Term paper required.	true	Spring	Graduate	4-0-8	null	9.822[J]	false	false	false	False	False	False
14.147	Topics in Game Theory	Advanced subject on topics of current research interest.	true	Fall	Graduate	4-0-8	14.126	null	false	false	false	False	False	False
14.15[J]	Networks	Highlights common principles that permeate the functioning of diverse technological, economic and social networks. Utilizes three sets of tools for analyzing networks -- random graph models, optimization, and game theory -- to study informational and learning cascades; economic and financial networks; social influence networks; formation of social groups; communication networks and the Internet; consensus and gossiping; spread and control of epidemics; control and use of energy networks; and biological networks. Students taking graduate version complete additional assignments.	true	Spring	Undergraduate	4-0-8	6.3700 or 14.30	6.3260[J]	false	false	false	False	Social Sciences	False
14.150	Networks	Highlights common principles that permeate the functioning of diverse technological, economic and social networks. Utilizes three sets of tools for analyzing networks -- random graph models, optimization, and game theory -- to study informational and learning cascades; economic and financial networks; social influence networks; formation of social groups; communication networks and the Internet; consensus and gossiping; spread and control of epidemics; control and use of energy networks; and biological networks. Students taking graduate version complete additional assignments.	true	Spring	Graduate	4-0-8	6.3700 or 14.300	null	false	false	false	False	False	False
14.16	Strategy and Information	Covers modern applications of game theory where incomplete information plays an important role. Applications include bargaining, auctions, global games, market design, information design, and network economics. Students taking graduate version complete additional assignments.	true	Spring	Undergraduate	4-0-8	14.01 or permission of instructor	null	false	false	false	False	Social Sciences	False
14.160	Behavioral Economics	Covers recent theory and empirical evidence in behavioral economics. Topics include deviations from the neoclassical model in terms of (i) preferences (present bias, reference dependence, social preferences), (ii) beliefs (overconfidence, projection bias), and (iii) decision-making (cognition, attention, framing, persuasion), as well as (iv) market reactions to such deviations. Applications will cover a large range of fields, including labor and public economics, industrial organization, health economics, finance, and development economics.	true	Spring	Graduate	4-0-8	14.122	null	false	false	false	False	False	False
14.161	Strategy and Information	Covers modern applications of game theory where incomplete information plays an important role. Applications include bargaining, auctions, global games, market design, information design, and network economics. Students taking graduate version complete additional assignments.	true	Spring	Graduate	4-0-8	14.01 or permission of instructor	null	false	false	false	False	False	False
14.163	Algorithms and Behavioral Science	Examines algorithms and their interaction with human cognition. Provides an overview of supervised learning as it relates to econometrics and economic applications. Discusses using algorithms to better understand people, using algorithms to improve human judgment, and using understanding of humans to better design algorithms. Prepares economics PhD students to conduct research in the field.	true	Spring	Graduate	4-0-8	(14.122 and 14.381) or permission of instructor	null	false	false	false	False	False	False
14.18	Mathematical Economic Modeling	Guides students through the process of developing and analyzing formal economic models and effectively communicating their results. Topics include decision theory, game theory, voting, and matching. Instruction and practice in oral and written communication provided. Prior coursework in microeconomic theory and/or proof-based mathematics required. Limited to 18 students.	true	Spring	Undergraduate	4-0-8	14.04, 14.12, 14.15, or 14.19	null	false	false	false	False	Social Sciences	False
14.19	Market Design	Covers the design and operation of organized markets, building on ideas from microeconomic and game theory. Topics may include mechanism design, auctions, matching markets, and other resource allocation problems.	true	Fall	Undergraduate	4-0-8	14.01	null	false	false	false	False	Social Sciences	False
14.191	Independent Research Paper	Under guidance from a faculty member approved by Graduate Registration Officer, student writes a substantial, probably publishable research paper. Must be completed by the end of a student's second year to satisfy the departmental minor requirement.	true	Fall, IAP, Spring, Summer	Graduate	0-12-0	Permission of instructor	null	false	false	false	False	False	False
14.192	Advanced Research and Communication	Guides second-year Economics PhD students through the process of conducting and communicating economic research. Students choose topics for research projects, develop research strategies, carry out analyses, and write and present research papers. Limited to second year Economics PhD students.	true	Fall, IAP, Spring	Graduate	2-4-6 [P/D/F]	14.124, 14.382, and 14.454	null	false	false	false	False	False	False
14.193	Advanced Seminar in Economics	Reading and discussion of current topics in economics. Open to advanced graduate students by arrangement with individual members of the staff.	true	Fall, Spring, Summer	Graduate	rranged	14.121 and 14.451	null	false	false	false	False	False	False
14.195	Reading Seminar in Economics	Reading and discussion of current topics in economics. Open to advanced graduate students by arrangement with individual members of the staff.	true	Fall, Spring, Summer	Graduate	rranged [P/D/F]	14.121	null	false	false	false	False	False	False
14.197	Independent Research	Under guidance from a faculty member approved by Graduate Registration Officer, student conducts independent research.	true	Fall, IAP, Spring, Summer	Graduate	rranged [P/D/F]	null	null	false	false	false	False	False	False
14.198,	14.199 Teaching Introductory Economics	Required of teaching assistants in introductory economics (14.01 and 14.02), under guidance from the faculty member in charge of the subject.	true	Fall, Spring	Graduate	2-0-2 [P/D/F]	null	null	false	false	false	False	False	False
14.281	Contract Economics	Covers theoretical research on contracts in static as well as dynamic settings. Topics include agency theory, mechanism design, incomplete contracting, information design and costly information acquisition.	true	Fall	Graduate	4-0-8	14.124 or permission of instructor	null	false	false	false	False	False	False
14.20	Industrial Organization: Competitive Strategy and Public Policy	Analyzes the current debate over the rise of monopolies, the strategic behavior and performance of firms in imperfectly competitive markets, and the role of competition policy. Topics include monopoly power; pricing, product choice, and innovation decisions by firms in oligopoly markets; static and dynamic measurement of market performance; and incentives in organizations. Requires regular participation in class discussion and teamwork in a competitive strategy game. Students taking graduate version complete additional assignments.	true	Spring	Undergraduate	4-0-8	14.01	null	false	false	false	False	Social Sciences	False
14.200	Industrial Organization: Competitive Strategy and Public Policy	Analyzes the current debate over the rise of monopolies, the strategic behavior and performance of firms in imperfectly competitive markets, and the role of competition policy. Topics include monopoly power; pricing, product choice, and innovation decisions by firms in oligopoly markets; static and dynamic measurement of market performance; and incentives in organizations. Requires regular participation in class discussion and teamwork in a competitive strategy game. Students taking graduate version complete additional assignments.	true	Spring	Graduate	4-0-8	14.01	null	false	false	false	False	False	False
14.27	Economics of Digitization	Uses theoretical economic models and empirical evidence to help understand the past and likely future impacts that digitization has had on legacy markets and institutions. These models help frame class discussions on e-commerce, search, online advertising, traditional and social media, privacy, platform design, and distance learning, among other topics. Students complete a project, and those taking the graduate version have additional assignments.	true	Spring	Undergraduate	4-0-8	14.01 and (6.3700 or 14.30)	null	false	false	false	False	Social Sciences	False
14.270	Economics of Digitization	Uses theoretical economic models and empirical evidence to help understand the past and likely future impacts that digitization has had on legacy markets and institutions. These models help frame class discussions on e-commerce, search, online advertising, traditional and social media, privacy, platform design, and distance learning, among other topics. Students complete a project, and those taking the graduate version have additional assignments.	true	Spring	Graduate	4-0-8	14.01 and (6.3700 or 14.30)	null	false	false	false	False	False	False
14.271	Industrial Organization I	Covers theoretical and empirical work dealing with the structure, behavior, and performance of firms and markets and core issues in antitrust. Topics include: the organization of the firm, monopoly, price discrimination, oligopoly, and auctions. Theoretical and empirical work are integrated in each area.	true	Fall	Graduate	5-0-7	None. Coreq: 14.122 and 14.381	null	false	false	false	False	False	False
14.272	Industrial Organization II	Continuation of 14.271. Focuses on government interventions in monopoly and oligopoly markets, and addresses both competition and regulatory policy. Topics include horizontal merger policy and demand estimation, vertical integration and vertical restraints, and the theory and practice of economic regulation. Applications include the political economy of regulation; the performance of economic regulation; deregulation in sectors including electric power, transportation, and financial services; and pharmaceutical and environmental regulation in imperfectly competitive product markets.	true	Spring	Graduate	5-0-7	14.271	null	false	false	false	False	False	False
14.273	Advanced Topics in Industrial Organization	Empirical analysis of theoretically derived models of market behavior. Varied topics include demand estimation, differentiated products, production functions, analysis of market power, entry and exit, vertical relationships, auctions, matching markets, network externalities, dynamic oligopoly, moral hazard and adverse selection. Discussion will focus on methodological issues, including identification, estimation, counter-factual analysis and simulation techniques.	true	Spring	Graduate	5-0-7	14.271	null	false	false	false	False	False	False
14.26[J]	Organizational Economics	Provides a rigorous, but not overly technical introduction to the economic theory of organization together with a varying set of applications. Addresses incentives, control, relationships, decision processes, and organizational culture and performance. Introduces selected fundamentals of game theory. Students taking graduate version complete additional assignments.	true	Spring	Undergraduate	4-0-8	14.01	15.039[J]	false	false	false	False	Social Sciences	False
14.260	Organizational Economics	Provides a rigorous, but not overly technical introduction to the economic theory of organization together with a varying set of applications. Addresses incentives, control, relationships, decision processes, and organizational culture and performance. Introduces selected fundamentals of game theory. Students taking graduate version complete additional assignments.	true	Spring	Graduate	4-0-8	null	null	false	false	false	False	False	False
14.282	Introduction to Organizational Economics	Begins with survey of contract theory for organizational economists, then introduces the main areas of the field, including the boundary of the firm; decision-making, employment, structures and processes in organizations; and organizations other than firms.	true	Fall	Graduate	5-0-7	14.124	null	false	false	false	False	False	False
14.283	Advanced Topics in Organizational Economics I	Builds on the work done in 14.282 to develop more in-depth analysis of topics in the field.	true	Spring, Spring	Graduate	2-0-4	14.282	null	false	false	false	False	False	False
14.284	Advanced Topics in Organizational Economics II	Builds on the work done in 14.282 to develop more in-depth analysis of topics in the field.	true	Spring	Graduate	2-0-4	14.282	null	false	false	false	False	False	False
14.30	Introduction to Statistical Methods in Economics	Self-contained introduction to probability and statistics with applications in economics and the social sciences. Covers elements of probability theory, statistical estimation and inference, regression analysis, causal inference, and program evaluation. Couples methods with applications and with assignments involving data analysis. Uses basic calculus and matrix algebra. Students taking graduate version complete additional assignments. May not count toward HASS requirement.	true	Fall	Undergraduate	4-0-8	Calculus II (GIR)	null	false	false	true	False	False	False
14.300	Introduction to Statistical Methods in Economics	Self-contained introduction to probability and statistics with applications in economics and the social sciences. Covers elements of probability theory, statistical estimation and inference, regression analysis, causal inference, and program evaluation. Couples methods with applications and with assignments involving data analysis. Uses basic calculus and matrix algebra. Students taking graduate version complete additional assignments.	true	Fall	Graduate	4-0-8	Calculus II (GIR)	null	false	false	false	False	False	False
14.310	Data Analysis for Social Scientists	Introduces methods for harnessing data to answer questions of cultural, social, economic, and policy interest. Presents essential notions of probability and statistics. Covers techniques in modern data analysis: regression and econometrics, prediction, design of experiment, randomized control trials (and A/B testing), machine learning, data visualization, analysis of network data, and geographic information systems. Projects include analysis of data with a written description and interpretation of results; may involve gathering of original data or use of existing data sets. Applications drawn from real world examples and frontier research. Instruction in use of the statistical package R. Students taking graduate version complete additional assignments.	true	Spring	Graduate	4-0-8	null	null	false	false	false	False	False	False
14.32	Econometric Data Science	Introduces regression and other tools for causal inference and descriptive analysis in empirical economics. Topics include analysis of randomized experiments, instrumental variables methods and regression discontinuity designs, differences-in-differences estimation, and regression with time series data. Develops the skills needed to conduct — and critique — empirical studies in economics and related fields. Empirical applications are drawn from published examples and frontier research. Familiarity with statistical programming languages is helpful. Students taking graduate version complete an empirical project leading to a short paper. No listeners. Limited to 70 total for versions meeting together.	true	Fall, Spring	Undergraduate	4-4-4	14.30 or 18.650	null	true	false	false	False	False	False
14.320	Econometric Data Science	Introduces regression and other tools for causal inference and descriptive analysis in empirical economics. Topics include analysis of randomized experiments, instrumental variables methods and regression discontinuity designs, differences-in-differences estimation, and regress with time series data. Develops the skills needed to conduct — and critique — empirical studies in economics and related fields. Empirical applications are drawn from published examples and frontier research. Familiarity with statistical programming languages is helpful. Students taking graduate version complete an empirical project leading to a short paper. No listeners. Limited to 70 total for versions meeting together.	true	Fall, Spring	Graduate	4-4-4	14.300 or 18.650	null	false	false	false	False	False	False
14.33	Research and Communication in Economics: Topics, Methods, and Implementation	Exposes students to the process of conducting independent research in empirical economics and effectively communicating the results of the research. Emphasizes econometric analysis of an assigned economic question and culminates in each student choosing an original topic, performing appropriate analysis, and delivering oral and written project reports. Limited to 20 per section.	true	Fall, Spring	Undergraduate	3-4-5	14.32 and (14.01 or 14.02)	null	false	false	false	False	Social Sciences	False
14.35	Why Markets Fail	Guides students through the process of developing and communicating economic and data analysis. Discusses topics in which markets fail to provide efficient outcomes or economic opportunity. Topics include health insurance, intergenerational mobility, discrimination, climate change, and more. Instruction and practice in oral and written communication provided. Key course activities include the writing of a term paper conducting original economic analysis and an in-class slide presentation of the work. Limited to 18.	true	Fall	Undergraduate	4-0-8	14.04, 14.12, 14.15, or 14.19	null	false	false	false	False	Social Sciences	False
14.36	Advanced Econometrics	Advanced treatment of the core empirical strategies used to answer causal questions in applied microeconometric research. Covers extensions and innovations relating to econometric applications of regression, machine learning, instrumental variables, differences-in-differences and event-study models, regression discontinuity designs, synthetic controls, and statistical inference. Students taking graduate version complete an additional assignment.	true	Fall	Undergraduate	4-0-8	14.32 or permission of instructor	null	false	false	false	False	False	False
14.38	Inference on Causal and Structural Parameters Using ML and AI	Provides an applied treatment of modern causal inference with high-dimensional data, focusing on empirical economic problems encountered in academic research and the tech industry. Formulates problems in the languages of structural equation modeling and potential outcomes. Presents state-of-the-art approaches for inference on causal and structural parameters, including de-biased machine learning, synthetic control methods, and reinforcement learning. Introduces tools from machine learning and deep learning developed for prediction purposes, and discusses how to adapt them to learn causal parameters. Emphasizes the applied and practical perspectives. Requires knowledge of mathematical statistics and regression analysis and programming experience in R or Python.	true	Spring	Undergraduate	4-0-8	14.32	null	false	false	false	False	False	False
14.380	Statistical Method in Economics	Introduction to probability and statistics as background for advanced econometrics. Covers elements of probability theory, sampling theory, asymptotic approximations, hypothesis testing, and maximum-likelihood methods. Illustrations from economics and application of these concepts to economic problems. Limited to 40 PhD students.	true	Fall	Graduate	3-0-3	14.32 or permission of instructor	null	false	false	false	False	False	False
14.381	Estimation and Inference for Linear Causal and Structural Models	Explains basic econometric ideas and methods, illustrating with empirical applications. Causal inference is emphasized and examples of economic structural models are given. Topics include randomized trials, regression, including discontinuity designs and diffs-in-diffs, and instrumental variables, including local average treatment effects. Basic asymptotic theory for regression is covered and robust standard errors and statistical inference methods are given. Restricted to PhD students from Courses 14 and 15. Instructor approval required for all others.	true	Fall	Graduate	3-0-3	14.380 and 18.06	null	false	false	false	False	False	False
14.382	Econometrics	Covers key models as well as identification and estimation methods used in modern econometrics. Presents modern ways to set up problems and do better estimation and inference than the current empirical practice. Introduces generalized method of moments and the method of M-estimators in addition to more modern versions of these methods dealing with important issues, such as weak identification. Also discusses the bootstrap. Students gain practical experience by applying the methods to real data sets. Enrollment limited.	true	Spring	Graduate	3-0-3	14.381 or permission of instructor	null	false	false	false	False	False	False
14.383	High-Dimensional Econometrics (New)	Continuation of topics in 14.382, with specific focus on large dimensional models. Students gain practical experience by applying the methods to real data sets. Enrollment limited.	true	Spring	Graduate	3-0-3	14.382 or permission of instructor	null	false	false	false	False	False	False
14.384	Time Series Analysis	Studies theory and application of time series methods in econometrics, including spectral analysis, estimation with stationary and non-stationary processes, VARs, factor models, unit roots, cointegration, and Bayesian methods. Enrollment limited.	true	Fall	Graduate	5-0-7	14.382 or permission of instructor	null	false	false	false	False	False	False
14.385	Nonlinear Econometric Analysis	Develops a full understanding of and ability to apply micro-econometric models and methods. Topics include extremum estimators, including minimum distance and simulated moments, identification, partial identification, sensitivity analysis, many weak instruments, nonlinear panel data, de-biased machine learning, discrete choice models, nonparametric estimation, quantile regression, and treatment effects. Methods are illustrated with economic applications. Enrollment limited.	true	Fall	Graduate	5-0-7	14.382 or permission of instructor	null	false	false	false	False	False	False
14.386	New Econometric Methods	Exposes students to the frontier of econometric research. Includes fundamental topics such as empirical processes, semiparametric estimation, nonparametric instrumental variables, inference under partial identification, large-scale inference, empirical Bayes, and machine learning methods. Other topics vary from year to year, but can include empirical likelihood, weak identification, and networks.	true	Spring	Graduate	4-0-8	14.382	null	false	false	false	False	False	False
14.387	Applied Econometrics	Advanced treatment of the core empirical strategies used to answer causal questions in applied microeconometric research. Covers extensions and innovations relating to econometric applications of regression, machine learning, instrumental variables, differences-in-differences and event-study models, regression discontinuity designs, synthetic controls, and statistical inference. Students taking the graduate version complete an additional assignment.	true	Fall	Graduate	4-0-8	14.381 or permission of instructor	null	false	false	false	False	False	False
14.388	Inference on Causal and Structural Parameters Using ML and AI	Provides an applied treatment of modern causal inference with high-dimensional data, focusing on empirical economic problems encountered in academic research and the tech industry. Formulates problems in the languages of structural equation modeling and potential outcomes. Presents state-of-the-art approaches for inference on causal and structural parameters, including de-biased machine learning, synthetic control methods, and reinforcement learning. Introduces tools from machine learning and deep learning developed for prediction purposes, and discusses how to adapt them to learn causal parameters. Emphasizes the applied and practical perspectives. Requires knowledge of mathematical statistics and regression analysis and programming experience in R or Python.	true	Spring	Graduate	4-0-8	14.381	null	false	false	false	False	False	False
14.39	Large-Scale Decision-Making and Inference (New)	Covers the use of data to guide decision-making, with a focus on data-rich and high-dimensional environments as are now commonly encountered in both academic and industry applications. Begins with an introduction to statistical decision theory, including Bayesian perspectives. Covers empirical Bayes methods, including related concepts such as false discovery rates, illustrated with economic applications. Requires knowledge of mathematical statistics and regression analysis, as well as programming experience in R or Python. Students taking the graduate version submit additional assignments.	true	Fall	Undergraduate	4-0-8	14.32	null	false	false	false	False	Social Sciences	False
14.390	Large-Scale Decision-Making and Inference (New)	Covers the use of data to guide decision-making, with a focus on data-rich and high-dimensional environments as are now commonly encountered in both academic and industry applications. Begins with an introduction to statistical decision theory, including Bayesian perspectives. Covers empirical Bayes methods, including related concepts such as false discovery rates, illustrated with economic applications. Requires knowledge of mathematical statistics and regression analysis, as well as programming experience in R or Python. Students taking the graduate version submit additional assignments.	true	Fall	Graduate	4-0-8	14.320	null	false	false	false	False	False	False
14.391	Workshop in Economic Research	Develops research ability of students through intensive discussion of dissertation research as it proceeds, individual or group research projects, and critical appraisal of current reported research. Workshops divided into various fields, depending on interest and size.	true	Fall	Graduate	2-0-10 [P/D/F]	14.124 and 14.454	null	false	false	false	False	False	False
14.392	Workshop in Economic Research	Develops research ability of students through intensive discussion of dissertation research as it proceeds, individual or group research projects, and critical appraisal of current reported research. Workshops divided into various fields, depending on interest and size.	true	Spring	Graduate	2-0-10 [P/D/F]	14.124 and 14.454	null	false	false	false	False	False	False
14.399	Seminar in Data Economics and Development Policy	Group study of current topics in development policy and research. Includes student presentations and invited speakers. Restricted to DEDP MASc students.	true	Spring	Graduate	2-0-10 [P/D/F]	Permission of instructor	null	false	false	false	False	False	False
14.41	Public Finance and Public Policy	Explores the role of government in the economy, applying tools of basic microeconomics to answer important policy questions such as government response to global warming, school choice by K-12 students, Social Security versus private retirement savings accounts, government versus private health insurance, setting income tax rates for individuals and corporations. Students taking the graduate version complete additional assignments.	true	Fall	Undergraduate	4-0-8	14.01	null	false	false	false	False	Social Sciences	False
14.410	Public Finance and Public Policy	Explores the role of government in the economy, applying tools of basic microeconomics to answer important policy questions such as government response to global warming, school choice by K-12 students, Social Security versus private retirement savings accounts, government versus private health insurance, setting income tax rates for individuals and corporations. Students taking the graduate version complete additional assignments.	true	Fall	Graduate	4-0-8	14.01	null	false	false	false	False	False	False
14.416[J]	Asset Pricing	Provides a foundation in the neoclassical theory of finance that underlies more advanced study. Covers arbitrage asset pricing, optimal consumption-portfolio choices, neo-classic theory of corporate finance, static equilibrium models of asset pricing, asymmetric information, and dynamic modeling. Prepares students for further study of asset pricing theories, corporate finance and econometric work in finance. Primarily for doctoral students in finance, economics, and accounting.	true	Fall	Graduate	4-0-8	null	15.470[J]	false	false	false	False	False	False
14.42	Environmental Policy and Economics	Introduces key concepts and recent advances in environmental economics, and explores their application to environmental policy questions. Topics include market efficiency and market failure, methods for valuing the benefits of environmental quality, the proper role of government in the regulation of the environment, environmental policy design, and implementation challenges. Considers international aspects of environmental policy as well, including the economics of climate change, trade and the environment, and environmental challenges in developing countries. Students taking graduate version complete additional assignments.	true	Spring	Undergraduate	4-0-8	14.01	null	false	false	false	False	Social Sciences	False
14.420	Environmental Policy and Economics	Introduces students to key concepts and recent advances in environmental economics, and explores their application to environmental policy questions. Topics include market efficiency and market failure, methods for valuing the benefits of environmental quality, the proper role of government in the regulation of the environment, environmental policy design and implementation challenges. Also considers international aspects of environmental policy including the economics of climate change, trade and the environment and environmental challenges in developing countries. Students taking graduate version complete additional assignments.	true	Spring	Graduate	4-0-8	14.01	null	false	false	false	False	False	False
14.43[J]	Economics of Energy, Innovation, and Sustainability	Covers energy and environmental market organization and regulation. Explores economic challenges and solutions to transforming energy markets to be more efficient, accessible, affordable, and sustainable. Applies core economic concepts - consumer choice, firm profit maximization, and strategic behavior - to understand when energy and environmental markets work well and when they fail. They also conduct data-driven economic analysis on the trade-offs of real and proposed policy interventions. Topics include renewable generation sources for electricity, energy access in emerging markets, efficiency programs and fuel efficiency standards, transitioning transportation to alternative fuels, measuring damages and adaptation to climate change, and the effect of energy and environmental policy on innovation. Expectations and evaluation criteria differ for students taking graduate version; consult syllabus or instructor for specific details.	true	Fall	Undergraduate	3-0-9	14.01 or 15.0111	15.0201[J]	false	false	false	False	Social Sciences	False
14.44[J]	Energy Economics and Policy	Analyzes business and public policy issues in energy markets and in the environmental markets to which they are closely tied. Examines the economic determinants of industry structure and evolution of competition among firms in these industries. Investigates successful and unsuccessful strategies for entering new markets and competing in existing markets. Industries studied include oil, natural gas, coal, electricity, and transportation. Topics include climate change and environmental policy, the role of speculation in energy markets, the political economy of energy policies, and market power and antitrust. Two team-based simulation games, representing the world oil market and a deregulated electricity market, act to cement the concepts covered in lecture. Students taking graduate version complete additional assignments. Limited to 60.	true	Spring	Undergraduate	4-0-8	14.01 or 15.0111	15.037[J]	false	false	false	False	Social Sciences	False
14.440[J]	Advanced Corporate Finance	Builds on 15.471 and considers further topics that are at the frontier of corporate finance research. Topics covered include: aggregate effects of financing frictions, financial intermediation, financial distress and bankruptcy, structural estimation of corporate finance models, entrepreneurial finance, venture capital and private equity, and other selected topics. Primarily for doctoral students in finance, economics, and accounting.	true	Spring	Graduate	3-0-9	null	15.473[J]	false	false	false	False	False	False
14.441[J]	Corporate Finance	Provides an introduction to the basic theoretical and empirical contributions in corporate finance. Covers capital structure, corporate governance and agency problems, the market for corporate control, investments and financing frictions, banking and financial intermediation, and other selected topics. Exposes students to the key methodological tools in modern corporate finance. Primarily for doctoral students in finance, economics, and accounting.	true	Spring	Graduate	3-0-9	null	15.471[J]	false	false	false	False	False	False
14.442[J]	Advanced Asset Pricing	Focuses on solving, estimating, and empirically evaluating theoretical models of asset prices and financial markets, as well as their microeconomic foundations and macroeconomic implications. Discusses theory and econometric methods, the state of the literature, and recent developments and empirical evidence. Covers topics such as cross-sectional and time-series models, consumption-based and intermediary-based models, financial institutions, household finance, housing, behavioral finance, financial crises, and continuous-time tools and applications. Students complete a short term paper and a presentation. Primarily for doctoral students in finance, economics, and accounting.	true	Fall	Graduate	3-0-9	null	15.472[J]	false	false	false	False	False	False
14.444[J]	Energy Economics and Policy	Analyzes business and public policy issues in energy markets and in the environmental markets to which they are closely tied. Examines the economic determinants of industry structure and evolution of competition among firms in these industries. Investigates successful and unsuccessful strategies for entering new markets and competing in existing markets. Industries studied include oil, natural gas, coal, electricity, and transportation. Topics include climate change and environmental policy, the role of speculation in energy markets, the political economy of energy policies, and market power and antitrust. Two team-based simulation games, representing the world oil market and a deregulated electricity market, act to cement the concepts covered in lecture. Students taking graduate version complete additional assignments. Limited to 60.	true	Spring	Graduate	4-0-8	14.01 or 15.0111	15.038[J]	false	false	false	False	False	False
14.448[J]	Current Topics in Finance	Faculty present their current research in a wide variety of topics in finance. Provides a rapid overview of the literature, an in-depth presentation of selected contributions, and a list of potential research ideas for each topic. Faculty rotate every year to cover new topics. Primarily for doctoral students in accounting, economics, and finance.	true	Spring	Graduate	3-0-9 [P/D/F]	null	15.474[J]	false	false	false	False	False	False
14.449[J]	Current Research in Financial Economics	Advanced seminar intended for PhD students interested in finance. Topics and papers vary by term, following the latest research in academia and in correlation with the weekly finance faculty research seminar. Each week, students will critically review the contributions, method of analysis, and presentation of evidence of existing research; one session is devoted to preparing for the finance seminar, while the other session discusses further work on the same topic. Restricted to doctoral students.	true	Fall, IAP, Spring, Summer	Graduate	3-0-3 [P/D/F]	Permission of instructor	15.475[J]	false	false	false	False	False	False
14.45[J]	Climate and Energy in the Global Economy (New)	Provides students with a comprehensive understanding of the challenges, opportunities, and policy responses to the global climate and energy crises. Discusses the role of energy in world economies, paying particular attention to low- and middle-income countries, as well as the impacts of climate change on those economies. Considers how access, cost, reliability, and environmental harm drive or hinder economic growth, the political influences on the energy sector, the impacts of climate change on low- and middle-income countries, and the role of energy in mitigating future impacts of climate change. Also discusses global climate solutions, including the role of the United Nations Framework Convention on Climate Change process, trade policy, climate finance, business strategies to reduce emissions, and business strategies to help people adapt to a changing climate. Students taking graduate students complete additional assignments.	true	Spring	Undergraduate	3-0-9	14.01 or 15.0111	15.0161[J]	false	false	false	False	False	False
14.450[J]	Climate and Energy in the Global Economy (New)	Provides students with a comprehensive understanding of the challenges, opportunities, and policy responses to the global climate and energy crises. Discusses the role of energy in world economies, paying particular attention to low- and middle-income countries, as well as the impacts of climate change on those economies. Considers how access, cost, reliability, and environmental harm drive or hinder economic growth, the political influences on the energy sector, the impacts of climate change on low- and middle-income countries, and the role of energy in mitigating future impacts of climate change. Also discusses global climate solutions, including the role of the United Nations Framework Convention on Climate Change process, trade policy, climate finance, business strategies to reduce emissions, and business strategies to help people adapt to a changing climate. Students taking graduate students complete additional assignments.	true	Spring	Graduate	3-0-9	14.01, 15.010, 15.011, or 15.024	15.016[J]	false	false	false	False	False	False
14.451	Dynamic Optimization Methods with Applications	Provides an introduction to dynamic optimization methods, including discrete-time dynamic programming in non-stochastic and stochastic environments, and continuous time methods including the Pontryagin maximum principle. Applications may include the Ramsey model, irreversible investment models, and consumption choices under uncertainty. Enrollment limited.	true	Fall	Graduate	3-0-3	14.06 and permission of instructor	null	false	false	false	False	False	False
14.452	Economic Growth	Introduces the sources and modeling of economic growth and income differences across nations. Topics include an introduction to dynamic general equilibrium theory, the neoclassical growth model, overlapping generations, determinants of technological progress, endogenous growth models, measurement of technological progress, the role of human capital in economic growth, and growth in a global economy. Enrollment limited.	true	Fall	Graduate	3-0-3	14.451 and permission of instructor	null	false	false	false	False	False	False
14.453	Economic Fluctuations	Investigation of why aggregate economic activity fluctuates, and the role of policy in affecting fluctuations. Topics include the link between monetary policy and output, the economic cost of aggregate fluctuations, the costs and benefits of price stability, and the role of central banks. Introduction to real business cycle and new Keynesian models. Enrollment limited.	true	Spring	Graduate	3-0-3	14.452 and permission of instructor	null	false	false	false	False	False	False
14.454	Economic Crises	Provides an overview of models of the business cycle caused by financial markets' frictions and shocks. Topics include credit crunch, collateral shocks, bank runs, contagion, speculative bubbles, credit booms, leverage, safe asset shortages, capital flows and sudden stops. Enrollment limited.	true	Spring	Graduate	3-0-3	14.453 and permission of instructor	null	false	false	false	False	False	False
14.461	Advanced Macroeconomics I	Advanced subject in macroeconomics that seeks to bring students to the research frontier. Topics vary from year to year, covering a wide spectrum of classical and recent research. Topics may include business cycles, optimal monetary and tax policy, monetary economics, banking, and financial constraints on investment and incomplete markets.	true	Fall	Graduate	5-0-7	14.122 and 14.452	null	false	false	false	False	False	False
14.462	Advanced Macroeconomics II	Topics vary from year to year. Often includes coordination failures; frictions in beliefs, such as rational inattention, higher-order uncertainty, certain forms of bounded rationality, heterogeneous beliefs, and ambiguity; implications for business cycles, asset markets, and policy; financial frictions and obstacles to trade; intermediation; liquidity; safe assets; global imbalances; financial crises; and speculation.	true	Spring	Graduate	5-0-7	14.461	null	false	false	false	False	False	False
14.47[J]	Global Energy: Politics, Markets, and Policy	Focuses on the ways economics and politics influence the fate of energy technologies, business models, and policies around the world. Extends fundamental concepts in the social sciences to case studies and simulations that illustrate how corporate, government, and individual decisions shape energy and environmental outcomes. In a final project, students apply the concepts in order to assess the prospects for an energy innovation to scale and advance sustainability goals in a particular regional market. Recommended prerequisite: 14.01. Meets with 15.219 when offered concurrently. Expectations and evaluation criteria differ for students taking graduate version; consult syllabus or instructor for specific details. Preference to juniors, seniors, and Energy Minors.	true	Spring	Undergraduate	3-0-9	null	11.167[J], 15.2191[J], 17.399[J]	false	false	false	False	Social Sciences	False

14.000

Graduate Internship in Economics

For Course 14 students participating in off-campus internship experiences in economics. Before registering for this subject, students must have an employment offer from a company or organization and must identify a Course 14 advisor. Upon completion of the internship, student must submit a letter from the employer describing the work accomplished, along with a substantive final report from the student approved by the MIT advisor. Subject to departmental approval. Consult departmental graduate office.

true

IAP, Summer

Graduate

rranged [P/D/F]

Permission of instructor

null

false

False

14.001

Design of Policy Summer Internship

Provides students in the DEDP Master's program the opportunity to synthesize their coursework and professional experience in policy, economics, and data analysis. In the context of a summer internship, students apply the knowledge gained in the program towards a project with a host organization, typically in the development or public policy sectors. Students will be supported in finding a suitable opportunity or research project. All internship placements are subject to approval by the program director. Each student must write a capstone project report. Restricted to DEDP MASc students.

true

Fall, Spring, Summer

Graduate

0-1-0

Permission of department

null

false

False

14.003

Microeconomic Theory and Public Policy

Students master and apply economic theory, causal inference, and contemporary evidence to analyze policy challenges. These include the effect of minimum wages on employment, the value of healthcare, the power and limitations of free markets, the benefits and costs of international trade, the causes and remedies of externalities, the consequences of adverse selection in insurance markets, the impacts of labor market discrimination, and the application of machine learning to supplement to decision-making. Class attendance and participation are mandatory. Students taking graduate version complete additional assignments.

true

Fall, Spring

Graduate

4-0-8

14.01 or permission of instructor

null

false

False

14.009

Economics and Society's Toughest Problems

Should we trade more or less with China? Why are some countries poor, and some countries rich? Why are the 1% getting richer? Should the US have a universal basic income? Why is our society becoming so polarized? What can we do to mitigate climate change? Will robots take all the jobs? Why does racism persist and how can we fight it? What will the world economy look like after the COVID-19 recession? Economics shows you how to think about some of the toughest problems facing society — and how to use data to get answers. Features lectures by MIT's economics faculty, showing how their cutting-edge research can help answer these questions. In lieu of problem sets, quizzes, or other written assignments, students produce materials of their choice (podcasts, TikToks, longer videos) with the view to make a potential audience excited about economics. Subject can count toward the 6-unit discovery-focused credit limit for first-year students.

true

Fall

Undergraduate

1-0-2 [P/D/F]

null

false

False

14.01

Principles of Microeconomics

Introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Applications to problems of current economic policy.

true

Fall, Spring

Undergraduate

3-0-9

null

false

False

Social Sciences

False

14.02

Principles of Macroeconomics

Provides an overview of macroeconomic issues including the determination of national income, economic growth, unemployment, inflation, interest rates, and exchange rates. Introduces basic macroeconomic models and illustrates key principles through applications to the experience of the US and other economies. Explores a range of current policy debates, such as the economic effects of monetary and fiscal policy, the causes and consequences of the 2008 global financial crisis, and the factors that influence long-term growth in living standards. Lectures are recorded and available for students with scheduling conflicts.

true

Fall, Spring

Undergraduate

3-0-9

null

false

False

Social Sciences

False

14.03

Microeconomic Theory and Public Policy

Students master and apply economic theory, causal inference, and contemporary evidence to analyze policy challenges. These include the effect of minimum wages on employment, the value of healthcare, the power and limitations of free markets, the benefits and costs of international trade, the causes and remedies of externalities, the consequences of adverse selection in insurance markets, the impacts of labor market discrimination, and the application of machine learning to supplement to decision-making. Class attendance and participation are mandatory. Students taking graduate version complete additional assignments.

true

Fall, Spring

Undergraduate

4-0-8

14.01 or permission of instructor

null

false

False

Social Sciences

False

14.04

Intermediate Microeconomic Theory

Analysis of consumer and producer decisions including analysis of competitive and monopolistic markets. Price-based partial and general equilibrium analysis. Introduction to game theory as a foundation for the strategic analysis of economic situations. Imperfect competition, dynamic games among firms. Failures of general equilibrium theory and their resolutions: externalities, public goods, incomplete information settings, signaling, screening, insurance, alternative market mechanisms, auctions, design of markets.

true

Fall

Undergraduate

4-0-8

Calculus II (GIR) and 14.01

null

false

False

Social Sciences

False

14.05

Intermediate Macroeconomics

Uses the tools of macroeconomics to investigate various macroeconomic issues in depth. Topics range from economic growth and inequality in the long run to economic stability and financial crises in the short run. Surveys many economic models used today. Requires a substantial research paper on the economics of long-run economic growth.

true

Fall

Undergraduate

4-0-8

14.01 and (14.02 or permission of instructor)

null

false

False

Social Sciences

False

14.06

Advanced Macroeconomics

Blends a thorough study of the theoretical foundations of modern macroeconomics with a review of useful mathematical tools, such as dynamic programming, optimal control, and dynamic systems. Develops comfort with formal macroeconomic reasoning and deepens understanding of key macroeconomic phenomena, such as business cycles. Goes on to study more specific topics, such as unemployment, financial crises, and the role of fiscal and monetary policy. Special attention to reviewing relevant facts and disentangling them from their popular interpretations. Uses insights and tools from game theory. Includes applications to recent and historical events.

true

Fall

Undergraduate

4-0-8

14.01 and 14.02

null

false

False

Social Sciences

False

14.08

Technical Topics in Economics

Considers technical issues of current research interest in economics.

true

Fall, Spring

Undergraduate

4-0-8

14.01

null

false

False

14.09

Reading Seminar in Economics

Reading and discussion of particular topics in economics. Open to undergraduate students by arrangement with individual faculty members. Consult Department Headquarters.

true

Fall, IAP, Spring, Summer

Undergraduate

rranged [P/D/F]

14.04 and 14.06

null

false

False

14.10

Reading Seminar in Economics

Reading and discussion of particular topics in economics. Open to undergraduate students by arrangement with individual faculty members. Consult Department Headquarters.

true

Fall, IAP, Spring, Summer

Undergraduate

rranged

14.04 and 14.06

null

false

False

14.11

Topics in Economics

Considers issues of current research interest in economics.

true

Fall

Undergraduate

4-0-8

14.01

null

false

False

Social Sciences

False

14.12

Economic Applications of Game Theory

Analysis of strategic behavior in multi-person economic settings. Introduction to solution concepts, such as rationalizability, backwards induction, Nash equilibrium, subgame-perfect equilibrium, and sequential equilibrium. Strong emphasis on dynamic games, such as repeated games. Introduction to Bayesian games, focusing on Bayesian Nash Equilibrium, Perfect Bayesian Equilibrium, and signaling games. Applications drawn from microeconomics: imperfect competition, implicit cartels, bargaining, and auctions.

true

Fall

Undergraduate

4-0-8

14.01 and (6.041B, 14.04, 14.30, 18.05, or permission of instructor)

null

false

False

Social Sciences

False

14.121

Microeconomic Theory I

Covers consumer and producer theory, markets and competition, general equilibrium and the welfare theorems; featuring applications, uncertainty, identification and restrictions models place on data. Enrollment limited; preference to PhD students.

true

Fall

Graduate

3-0-3

14.04 and permission of instructor

null

false

False

14.122

Microeconomic Theory II

Introduction to game theory. Topics include normal form and extensive form games, and games with incomplete information. Enrollment limited.

true

Fall

Graduate

3-0-3

14.121 and permission of instructor

null

false

False

14.123

Microeconomic Theory III

Models of individual decision-making under certainty and uncertainty. Additional topics in game theory. Enrollment limited.

true

Spring

Graduate

3-0-3

14.121, 14.122, and permission of instructor

null

false

False

14.124

Microeconomic Theory IV

Introduction to statistical decision theory, incentive contracting (moral hazard and adverse selection), mechanism design and incomplete contracting. Enrollment limited.

true

Spring

Graduate

3-0-3

14.123 or permission of instructor

null

false

False

14.125

Market Design

Theory and practice of market design, building on ideas from microeconomics, game theory and mechanism design. Prominent case studies include auctions, labor markets, school choice, prediction markets, financial markets, and organ exchange clearinghouses.

true

Spring

Graduate

4-0-8

14.124

null

false

False

14.126

Game Theory

Investigates equilibrium and non-equilibrium solution concepts and their foundations as the result of learning or evolution. Studies the equilibria of supermodular games, global games, repeated games, signaling games, and models of bargaining, cheap talk, and reputation.

true

Spring

Graduate

3-0-9

14.122

null

false

False

14.127

Advanced Game Theory

For students who plan to do game theory research. Covers the following topics: epistemic foundations of game theory, higher order beliefs, the role and status of common prior assumptions, social networks and social learning, repeated and stochastic games, non-equilibrium learning, stochastic stability and evolutionary dynamics, game theory experiments, and behavioral game theory.

true

Fall

Graduate

4-0-8

null

false

False

14.129

Advanced Contract Theory

Presents the contract theory, mechanism design, and general equilibrium theory necessary for an understanding of a variety of recent innovations: crypto currencies, digital assets; intermediation through digital big techs; central bank digital currency; and decentralized finance (DeFi) versus centralized exchange and contract platforms. Three broad themes: 1) Take stock of new technologies' characteristic features (distributed ledgers and blockchain, e-transfers, smart contacts, and encryption); 2) Translate these features into formal language; 3) Inform normative questions: Should we delegate programmable contacts to the private sector and the role of public authorities.

true

Spring

Graduate

3-0-3

14.121, 14.281, or permission of instructor

null

false

False

14.13

Psychology and Economics

Introduces the theoretical and empirical literature of behavioral economics. Examines important and systematic departures from the standard models in economics by incorporating insights from psychology and other social sciences. Covers theory and evidence on time, risk, and social preferences; beliefs and learning; emotions; limited attention; and frames, defaults, and nudges. Studies applications to many different areas, such as credit card debt, procrastination, retirement savings, addiction, portfolio choice, poverty, labor supply, happiness, and government policy. Students participate in surveys and experiments in class, review evidence from lab experiments, examine how the results can be integrated into models, and test models using field and lab data. Students taking graduate version complete additional assignments.

true

Spring

Undergraduate

4-0-8

14.01

null

false

False

Social Sciences

False

14.130

Reading Economic Theory

Class will read and discuss current research in economic theory with a focus on game theory, decision theory, and behavioral economics. Students will be expected to make one presentation and to read and post comments on every paper by the day before the paper is presented. Permission of the instructor required, and auditors are not allowed.

true

Fall

Graduate

2-0-10

14.121 and 14.451

null

false

False

14.131

Psychology and Economics

Introduces the theoretical and empirical literature of behavioral economics. Examines important and systematic departures from the standard models in economics by incorporating insights from psychology and other social sciences. Covers theory and evidence on time, risk, and social preferences; beliefs and learning; emotions; limited attention; and frames, defaults, and nudges. Studies applications to many different areas, such as credit card debt, procrastination, retirement savings, addiction, portfolio choice, poverty, labor supply, happiness, and government policy. Students participate in surveys and experiments in class, review evidence from lab experiments, examine how the results can be integrated into models, and test models using field and lab data. Students taking graduate version complete additional assignments.

true

Spring

Graduate

4-0-8

14.01

null

false

False

14.137[J]

Psychology and Economics

Examines "psychology appreciation" for economics students. Aims to enhance knowledge and intuition about psychological processes in areas relevant to economics. Increases understanding of psychology as an experimental discipline, with its own distinct rules and style of argument. Topics include self-knowledge, cognitive dissonance, self-deception, emotions, social norms, self-control, learning, mental accounting, memory, individual and group behavior, and some personality and psycho-analytic models. Within each of these topics, we showcase effective and central experiments and discuss their role in the development of psychological theory. Term paper required.

true

Spring

Graduate

4-0-8

null

9.822[J]

false

False

14.147

Topics in Game Theory

Advanced subject on topics of current research interest.

true

Fall

Graduate

4-0-8

14.126

null

false

False

14.15[J]

Networks

Highlights common principles that permeate the functioning of diverse technological, economic and social networks. Utilizes three sets of tools for analyzing networks -- random graph models, optimization, and game theory -- to study informational and learning cascades; economic and financial networks; social influence networks; formation of social groups; communication networks and the Internet; consensus and gossiping; spread and control of epidemics; control and use of energy networks; and biological networks. Students taking graduate version complete additional assignments.

true

Spring

Undergraduate

4-0-8

6.3700 or 14.30

6.3260[J]

false

False

Social Sciences

False

14.150

Networks

Highlights common principles that permeate the functioning of diverse technological, economic and social networks. Utilizes three sets of tools for analyzing networks -- random graph models, optimization, and game theory -- to study informational and learning cascades; economic and financial networks; social influence networks; formation of social groups; communication networks and the Internet; consensus and gossiping; spread and control of epidemics; control and use of energy networks; and biological networks. Students taking graduate version complete additional assignments.

true

Spring

Graduate

4-0-8

6.3700 or 14.300

null

false

False

14.16

Strategy and Information

Covers modern applications of game theory where incomplete information plays an important role. Applications include bargaining, auctions, global games, market design, information design, and network economics. Students taking graduate version complete additional assignments.

true

Spring

Undergraduate

4-0-8

14.01 or permission of instructor

null

false

False

Social Sciences

False

14.160

Behavioral Economics

Covers recent theory and empirical evidence in behavioral economics. Topics include deviations from the neoclassical model in terms of (i) preferences (present bias, reference dependence, social preferences), (ii) beliefs (overconfidence, projection bias), and (iii) decision-making (cognition, attention, framing, persuasion), as well as (iv) market reactions to such deviations. Applications will cover a large range of fields, including labor and public economics, industrial organization, health economics, finance, and development economics.

true

Spring

Graduate

4-0-8

14.122

null

false

False

14.161

Strategy and Information

Covers modern applications of game theory where incomplete information plays an important role. Applications include bargaining, auctions, global games, market design, information design, and network economics. Students taking graduate version complete additional assignments.

true

Spring

Graduate

4-0-8

14.01 or permission of instructor

null

false

False

14.163

Algorithms and Behavioral Science

Examines algorithms and their interaction with human cognition. Provides an overview of supervised learning as it relates to econometrics and economic applications. Discusses using algorithms to better understand people, using algorithms to improve human judgment, and using understanding of humans to better design algorithms. Prepares economics PhD students to conduct research in the field.

true

Spring

Graduate

4-0-8

(14.122 and 14.381) or permission of instructor

null

false

False

14.18

Mathematical Economic Modeling

Guides students through the process of developing and analyzing formal economic models and effectively communicating their results. Topics include decision theory, game theory, voting, and matching. Instruction and practice in oral and written communication provided. Prior coursework in microeconomic theory and/or proof-based mathematics required. Limited to 18 students.

true

Spring

Undergraduate

4-0-8

14.04, 14.12, 14.15, or 14.19

null

false

False

Social Sciences

False

14.19

Market Design

Covers the design and operation of organized markets, building on ideas from microeconomic and game theory. Topics may include mechanism design, auctions, matching markets, and other resource allocation problems.

true

Fall

Undergraduate

4-0-8

14.01

null

false

False

Social Sciences

False

14.191

Independent Research Paper

Under guidance from a faculty member approved by Graduate Registration Officer, student writes a substantial, probably publishable research paper. Must be completed by the end of a student's second year to satisfy the departmental minor requirement.

true

Fall, IAP, Spring, Summer

Graduate

0-12-0

Permission of instructor

null

false

False

14.192

Advanced Research and Communication

Guides second-year Economics PhD students through the process of conducting and communicating economic research. Students choose topics for research projects, develop research strategies, carry out analyses, and write and present research papers. Limited to second year Economics PhD students.

true

Fall, IAP, Spring

Graduate

2-4-6 [P/D/F]

14.124, 14.382, and 14.454

null

false

False

14.193

Advanced Seminar in Economics

Reading and discussion of current topics in economics. Open to advanced graduate students by arrangement with individual members of the staff.

true

Fall, Spring, Summer

Graduate

rranged

14.121 and 14.451

null

false

False

14.195

Reading Seminar in Economics

Reading and discussion of current topics in economics. Open to advanced graduate students by arrangement with individual members of the staff.

true

Fall, Spring, Summer

Graduate

rranged [P/D/F]

14.121

null

false

False

14.197

Independent Research

Under guidance from a faculty member approved by Graduate Registration Officer, student conducts independent research.

true

Fall, IAP, Spring, Summer

Graduate

rranged [P/D/F]

null

false

False

14.198,

14.199 Teaching Introductory Economics

Required of teaching assistants in introductory economics (14.01 and 14.02), under guidance from the faculty member in charge of the subject.

true

Fall, Spring

Graduate

2-0-2 [P/D/F]

null

false

False

14.281

Contract Economics

Covers theoretical research on contracts in static as well as dynamic settings. Topics include agency theory, mechanism design, incomplete contracting, information design and costly information acquisition.

true

Fall

Graduate

4-0-8

14.124 or permission of instructor

null

false

False

14.20

Industrial Organization: Competitive Strategy and Public Policy

Analyzes the current debate over the rise of monopolies, the strategic behavior and performance of firms in imperfectly competitive markets, and the role of competition policy. Topics include monopoly power; pricing, product choice, and innovation decisions by firms in oligopoly markets; static and dynamic measurement of market performance; and incentives in organizations. Requires regular participation in class discussion and teamwork in a competitive strategy game. Students taking graduate version complete additional assignments.

true

Spring

Undergraduate

4-0-8

14.01

null

false

False

Social Sciences

False

14.200

Industrial Organization: Competitive Strategy and Public Policy

Analyzes the current debate over the rise of monopolies, the strategic behavior and performance of firms in imperfectly competitive markets, and the role of competition policy. Topics include monopoly power; pricing, product choice, and innovation decisions by firms in oligopoly markets; static and dynamic measurement of market performance; and incentives in organizations. Requires regular participation in class discussion and teamwork in a competitive strategy game. Students taking graduate version complete additional assignments.

true

Spring

Graduate

4-0-8

14.01

null

false

False

14.27

Economics of Digitization

Uses theoretical economic models and empirical evidence to help understand the past and likely future impacts that digitization has had on legacy markets and institutions. These models help frame class discussions on e-commerce, search, online advertising, traditional and social media, privacy, platform design, and distance learning, among other topics. Students complete a project, and those taking the graduate version have additional assignments.

true

Spring

Undergraduate

4-0-8

14.01 and (6.3700 or 14.30)

null

false

False

Social Sciences

False

14.270

Economics of Digitization

Uses theoretical economic models and empirical evidence to help understand the past and likely future impacts that digitization has had on legacy markets and institutions. These models help frame class discussions on e-commerce, search, online advertising, traditional and social media, privacy, platform design, and distance learning, among other topics. Students complete a project, and those taking the graduate version have additional assignments.

true

Spring

Graduate

4-0-8

14.01 and (6.3700 or 14.30)

null

false

False

14.271

Industrial Organization I

Covers theoretical and empirical work dealing with the structure, behavior, and performance of firms and markets and core issues in antitrust. Topics include: the organization of the firm, monopoly, price discrimination, oligopoly, and auctions. Theoretical and empirical work are integrated in each area.

true

Fall

Graduate

5-0-7

None. Coreq: 14.122 and 14.381

null

false

False

14.272

Industrial Organization II

Continuation of 14.271. Focuses on government interventions in monopoly and oligopoly markets, and addresses both competition and regulatory policy. Topics include horizontal merger policy and demand estimation, vertical integration and vertical restraints, and the theory and practice of economic regulation. Applications include the political economy of regulation; the performance of economic regulation; deregulation in sectors including electric power, transportation, and financial services; and pharmaceutical and environmental regulation in imperfectly competitive product markets.

true

Spring

Graduate

5-0-7

14.271

null

false

False

14.273

Advanced Topics in Industrial Organization

Empirical analysis of theoretically derived models of market behavior. Varied topics include demand estimation, differentiated products, production functions, analysis of market power, entry and exit, vertical relationships, auctions, matching markets, network externalities, dynamic oligopoly, moral hazard and adverse selection. Discussion will focus on methodological issues, including identification, estimation, counter-factual analysis and simulation techniques.

true

Spring

Graduate

5-0-7

14.271

null

false

False

14.26[J]

Organizational Economics

Provides a rigorous, but not overly technical introduction to the economic theory of organization together with a varying set of applications. Addresses incentives, control, relationships, decision processes, and organizational culture and performance. Introduces selected fundamentals of game theory. Students taking graduate version complete additional assignments.

true

Spring

Undergraduate

4-0-8

14.01

15.039[J]

false

False

Social Sciences

False

14.260

Organizational Economics

Provides a rigorous, but not overly technical introduction to the economic theory of organization together with a varying set of applications. Addresses incentives, control, relationships, decision processes, and organizational culture and performance. Introduces selected fundamentals of game theory. Students taking graduate version complete additional assignments.

true

Spring

Graduate

4-0-8

null

false

False

14.282

Introduction to Organizational Economics

Begins with survey of contract theory for organizational economists, then introduces the main areas of the field, including the boundary of the firm; decision-making, employment, structures and processes in organizations; and organizations other than firms.

true

Fall

Graduate

5-0-7

14.124

null

false

False

14.283

Advanced Topics in Organizational Economics I

Builds on the work done in 14.282 to develop more in-depth analysis of topics in the field.

true

Spring, Spring

Graduate

2-0-4

14.282

null

false

False

14.284

Advanced Topics in Organizational Economics II

Builds on the work done in 14.282 to develop more in-depth analysis of topics in the field.

true

Spring

Graduate

2-0-4

14.282

null

false

False

14.30

Introduction to Statistical Methods in Economics

Self-contained introduction to probability and statistics with applications in economics and the social sciences. Covers elements of probability theory, statistical estimation and inference, regression analysis, causal inference, and program evaluation. Couples methods with applications and with assignments involving data analysis. Uses basic calculus and matrix algebra. Students taking graduate version complete additional assignments. May not count toward HASS requirement.

true

Fall

Undergraduate

4-0-8

Calculus II (GIR)

null

false

true

False

14.300

Introduction to Statistical Methods in Economics

Self-contained introduction to probability and statistics with applications in economics and the social sciences. Covers elements of probability theory, statistical estimation and inference, regression analysis, causal inference, and program evaluation. Couples methods with applications and with assignments involving data analysis. Uses basic calculus and matrix algebra. Students taking graduate version complete additional assignments.

true

Fall

Graduate

4-0-8

Calculus II (GIR)

null

false

False

14.310

Data Analysis for Social Scientists

Introduces methods for harnessing data to answer questions of cultural, social, economic, and policy interest. Presents essential notions of probability and statistics. Covers techniques in modern data analysis: regression and econometrics, prediction, design of experiment, randomized control trials (and A/B testing), machine learning, data visualization, analysis of network data, and geographic information systems. Projects include analysis of data with a written description and interpretation of results; may involve gathering of original data or use of existing data sets. Applications drawn from real world examples and frontier research. Instruction in use of the statistical package R. Students taking graduate version complete additional assignments.

true

Spring

Graduate

4-0-8

null

false

False

14.32

Econometric Data Science

Introduces regression and other tools for causal inference and descriptive analysis in empirical economics. Topics include analysis of randomized experiments, instrumental variables methods and regression discontinuity designs, differences-in-differences estimation, and regression with time series data. Develops the skills needed to conduct — and critique — empirical studies in economics and related fields. Empirical applications are drawn from published examples and frontier research. Familiarity with statistical programming languages is helpful. Students taking graduate version complete an empirical project leading to a short paper. No listeners. Limited to 70 total for versions meeting together.

true

Fall, Spring

Undergraduate

4-4-4

14.30 or 18.650

null

true

false

False

14.320

Econometric Data Science

Introduces regression and other tools for causal inference and descriptive analysis in empirical economics. Topics include analysis of randomized experiments, instrumental variables methods and regression discontinuity designs, differences-in-differences estimation, and regress with time series data. Develops the skills needed to conduct — and critique — empirical studies in economics and related fields. Empirical applications are drawn from published examples and frontier research. Familiarity with statistical programming languages is helpful. Students taking graduate version complete an empirical project leading to a short paper. No listeners. Limited to 70 total for versions meeting together.

true

Fall, Spring

Graduate

4-4-4

14.300 or 18.650

null

false

False

14.33

Research and Communication in Economics: Topics, Methods, and Implementation

Exposes students to the process of conducting independent research in empirical economics and effectively communicating the results of the research. Emphasizes econometric analysis of an assigned economic question and culminates in each student choosing an original topic, performing appropriate analysis, and delivering oral and written project reports. Limited to 20 per section.

true

Fall, Spring

Undergraduate

3-4-5

14.32 and (14.01 or 14.02)

null

false

False

Social Sciences

False

14.35

Why Markets Fail

Guides students through the process of developing and communicating economic and data analysis. Discusses topics in which markets fail to provide efficient outcomes or economic opportunity. Topics include health insurance, intergenerational mobility, discrimination, climate change, and more. Instruction and practice in oral and written communication provided. Key course activities include the writing of a term paper conducting original economic analysis and an in-class slide presentation of the work. Limited to 18.

true

Fall

Undergraduate

4-0-8

14.04, 14.12, 14.15, or 14.19

null

false

False

Social Sciences

False

14.36

Advanced Econometrics

Advanced treatment of the core empirical strategies used to answer causal questions in applied microeconometric research. Covers extensions and innovations relating to econometric applications of regression, machine learning, instrumental variables, differences-in-differences and event-study models, regression discontinuity designs, synthetic controls, and statistical inference. Students taking graduate version complete an additional assignment.

true

Fall

Undergraduate

4-0-8

14.32 or permission of instructor

null

false

False

14.38

Inference on Causal and Structural Parameters Using ML and AI

Provides an applied treatment of modern causal inference with high-dimensional data, focusing on empirical economic problems encountered in academic research and the tech industry. Formulates problems in the languages of structural equation modeling and potential outcomes. Presents state-of-the-art approaches for inference on causal and structural parameters, including de-biased machine learning, synthetic control methods, and reinforcement learning. Introduces tools from machine learning and deep learning developed for prediction purposes, and discusses how to adapt them to learn causal parameters. Emphasizes the applied and practical perspectives. Requires knowledge of mathematical statistics and regression analysis and programming experience in R or Python.

true

Spring

Undergraduate

4-0-8

14.32

null

false

False

14.380

Statistical Method in Economics

Introduction to probability and statistics as background for advanced econometrics. Covers elements of probability theory, sampling theory, asymptotic approximations, hypothesis testing, and maximum-likelihood methods. Illustrations from economics and application of these concepts to economic problems. Limited to 40 PhD students.

true

Fall

Graduate

3-0-3

14.32 or permission of instructor

null

false

False

14.381

Estimation and Inference for Linear Causal and Structural Models

Explains basic econometric ideas and methods, illustrating with empirical applications. Causal inference is emphasized and examples of economic structural models are given. Topics include randomized trials, regression, including discontinuity designs and diffs-in-diffs, and instrumental variables, including local average treatment effects. Basic asymptotic theory for regression is covered and robust standard errors and statistical inference methods are given. Restricted to PhD students from Courses 14 and 15. Instructor approval required for all others.

true

Fall

Graduate

3-0-3

14.380 and 18.06

null

false

False

14.382

Econometrics

Covers key models as well as identification and estimation methods used in modern econometrics. Presents modern ways to set up problems and do better estimation and inference than the current empirical practice. Introduces generalized method of moments and the method of M-estimators in addition to more modern versions of these methods dealing with important issues, such as weak identification. Also discusses the bootstrap. Students gain practical experience by applying the methods to real data sets. Enrollment limited.

true

Spring

Graduate

3-0-3

14.381 or permission of instructor

null

false

False

14.383

High-Dimensional Econometrics (New)

Continuation of topics in 14.382, with specific focus on large dimensional models. Students gain practical experience by applying the methods to real data sets. Enrollment limited.

true

Spring

Graduate

3-0-3

14.382 or permission of instructor

null

false

False

14.384

Time Series Analysis

Studies theory and application of time series methods in econometrics, including spectral analysis, estimation with stationary and non-stationary processes, VARs, factor models, unit roots, cointegration, and Bayesian methods. Enrollment limited.

true

Fall

Graduate

5-0-7

14.382 or permission of instructor

null

false

False

14.385

Nonlinear Econometric Analysis

Develops a full understanding of and ability to apply micro-econometric models and methods. Topics include extremum estimators, including minimum distance and simulated moments, identification, partial identification, sensitivity analysis, many weak instruments, nonlinear panel data, de-biased machine learning, discrete choice models, nonparametric estimation, quantile regression, and treatment effects. Methods are illustrated with economic applications. Enrollment limited.

true

Fall

Graduate

5-0-7

14.382 or permission of instructor

null

false

False

14.386

New Econometric Methods

Exposes students to the frontier of econometric research. Includes fundamental topics such as empirical processes, semiparametric estimation, nonparametric instrumental variables, inference under partial identification, large-scale inference, empirical Bayes, and machine learning methods. Other topics vary from year to year, but can include empirical likelihood, weak identification, and networks.

true

Spring

Graduate

4-0-8

14.382

null

false

False

14.387

Applied Econometrics

Advanced treatment of the core empirical strategies used to answer causal questions in applied microeconometric research. Covers extensions and innovations relating to econometric applications of regression, machine learning, instrumental variables, differences-in-differences and event-study models, regression discontinuity designs, synthetic controls, and statistical inference. Students taking the graduate version complete an additional assignment.

true

Fall

Graduate

4-0-8

14.381 or permission of instructor

null

false

False

14.388

Inference on Causal and Structural Parameters Using ML and AI

Provides an applied treatment of modern causal inference with high-dimensional data, focusing on empirical economic problems encountered in academic research and the tech industry. Formulates problems in the languages of structural equation modeling and potential outcomes. Presents state-of-the-art approaches for inference on causal and structural parameters, including de-biased machine learning, synthetic control methods, and reinforcement learning. Introduces tools from machine learning and deep learning developed for prediction purposes, and discusses how to adapt them to learn causal parameters. Emphasizes the applied and practical perspectives. Requires knowledge of mathematical statistics and regression analysis and programming experience in R or Python.

true

Spring

Graduate

4-0-8

14.381

null

false

False

14.39

Large-Scale Decision-Making and Inference (New)

Covers the use of data to guide decision-making, with a focus on data-rich and high-dimensional environments as are now commonly encountered in both academic and industry applications. Begins with an introduction to statistical decision theory, including Bayesian perspectives. Covers empirical Bayes methods, including related concepts such as false discovery rates, illustrated with economic applications. Requires knowledge of mathematical statistics and regression analysis, as well as programming experience in R or Python. Students taking the graduate version submit additional assignments.

true

Fall

Undergraduate

4-0-8

14.32

null

false

False

Social Sciences

False

14.390

Large-Scale Decision-Making and Inference (New)

Covers the use of data to guide decision-making, with a focus on data-rich and high-dimensional environments as are now commonly encountered in both academic and industry applications. Begins with an introduction to statistical decision theory, including Bayesian perspectives. Covers empirical Bayes methods, including related concepts such as false discovery rates, illustrated with economic applications. Requires knowledge of mathematical statistics and regression analysis, as well as programming experience in R or Python. Students taking the graduate version submit additional assignments.

true

Fall

Graduate

4-0-8

14.320

null

false

False

14.391

Workshop in Economic Research

Develops research ability of students through intensive discussion of dissertation research as it proceeds, individual or group research projects, and critical appraisal of current reported research. Workshops divided into various fields, depending on interest and size.

true

Fall

Graduate

2-0-10 [P/D/F]

14.124 and 14.454

null

false

False

14.392

Workshop in Economic Research

Develops research ability of students through intensive discussion of dissertation research as it proceeds, individual or group research projects, and critical appraisal of current reported research. Workshops divided into various fields, depending on interest and size.

true

Spring

Graduate

2-0-10 [P/D/F]

14.124 and 14.454

null

false

False

14.399

Seminar in Data Economics and Development Policy

Group study of current topics in development policy and research. Includes student presentations and invited speakers. Restricted to DEDP MASc students.

true

Spring

Graduate

2-0-10 [P/D/F]

Permission of instructor

null

false

False

14.41

Public Finance and Public Policy

Explores the role of government in the economy, applying tools of basic microeconomics to answer important policy questions such as government response to global warming, school choice by K-12 students, Social Security versus private retirement savings accounts, government versus private health insurance, setting income tax rates for individuals and corporations. Students taking the graduate version complete additional assignments.

true

Fall

Undergraduate

4-0-8

14.01

null

false

False

Social Sciences

False

14.410

Public Finance and Public Policy

Explores the role of government in the economy, applying tools of basic microeconomics to answer important policy questions such as government response to global warming, school choice by K-12 students, Social Security versus private retirement savings accounts, government versus private health insurance, setting income tax rates for individuals and corporations. Students taking the graduate version complete additional assignments.

true

Fall

Graduate

4-0-8

14.01

null

false

False

14.416[J]

Asset Pricing

Provides a foundation in the neoclassical theory of finance that underlies more advanced study. Covers arbitrage asset pricing, optimal consumption-portfolio choices, neo-classic theory of corporate finance, static equilibrium models of asset pricing, asymmetric information, and dynamic modeling. Prepares students for further study of asset pricing theories, corporate finance and econometric work in finance. Primarily for doctoral students in finance, economics, and accounting.

true

Fall

Graduate

4-0-8

null

15.470[J]

false

False

14.42

Environmental Policy and Economics

Introduces key concepts and recent advances in environmental economics, and explores their application to environmental policy questions. Topics include market efficiency and market failure, methods for valuing the benefits of environmental quality, the proper role of government in the regulation of the environment, environmental policy design, and implementation challenges. Considers international aspects of environmental policy as well, including the economics of climate change, trade and the environment, and environmental challenges in developing countries. Students taking graduate version complete additional assignments.

true

Spring

Undergraduate

4-0-8

14.01

null

false

False

Social Sciences

False

14.420

Environmental Policy and Economics

Introduces students to key concepts and recent advances in environmental economics, and explores their application to environmental policy questions. Topics include market efficiency and market failure, methods for valuing the benefits of environmental quality, the proper role of government in the regulation of the environment, environmental policy design and implementation challenges. Also considers international aspects of environmental policy including the economics of climate change, trade and the environment and environmental challenges in developing countries. Students taking graduate version complete additional assignments.

true

Spring

Graduate

4-0-8

14.01

null

false

False

14.43[J]

Economics of Energy, Innovation, and Sustainability

Covers energy and environmental market organization and regulation. Explores economic challenges and solutions to transforming energy markets to be more efficient, accessible, affordable, and sustainable. Applies core economic concepts - consumer choice, firm profit maximization, and strategic behavior - to understand when energy and environmental markets work well and when they fail. They also conduct data-driven economic analysis on the trade-offs of real and proposed policy interventions. Topics include renewable generation sources for electricity, energy access in emerging markets, efficiency programs and fuel efficiency standards, transitioning transportation to alternative fuels, measuring damages and adaptation to climate change, and the effect of energy and environmental policy on innovation. Expectations and evaluation criteria differ for students taking graduate version; consult syllabus or instructor for specific details.

true

Fall

Undergraduate

3-0-9

14.01 or 15.0111

15.0201[J]

false

False

Social Sciences

False

14.44[J]

Energy Economics and Policy

Analyzes business and public policy issues in energy markets and in the environmental markets to which they are closely tied. Examines the economic determinants of industry structure and evolution of competition among firms in these industries. Investigates successful and unsuccessful strategies for entering new markets and competing in existing markets. Industries studied include oil, natural gas, coal, electricity, and transportation. Topics include climate change and environmental policy, the role of speculation in energy markets, the political economy of energy policies, and market power and antitrust. Two team-based simulation games, representing the world oil market and a deregulated electricity market, act to cement the concepts covered in lecture. Students taking graduate version complete additional assignments. Limited to 60.

true

Spring

Undergraduate

4-0-8

14.01 or 15.0111

15.037[J]

false

False

Social Sciences

False

14.440[J]

Advanced Corporate Finance

Builds on 15.471 and considers further topics that are at the frontier of corporate finance research. Topics covered include: aggregate effects of financing frictions, financial intermediation, financial distress and bankruptcy, structural estimation of corporate finance models, entrepreneurial finance, venture capital and private equity, and other selected topics. Primarily for doctoral students in finance, economics, and accounting.

true

Spring

Graduate

3-0-9

null

15.473[J]

false

False

14.441[J]

Corporate Finance

Provides an introduction to the basic theoretical and empirical contributions in corporate finance. Covers capital structure, corporate governance and agency problems, the market for corporate control, investments and financing frictions, banking and financial intermediation, and other selected topics. Exposes students to the key methodological tools in modern corporate finance. Primarily for doctoral students in finance, economics, and accounting.

true

Spring

Graduate

3-0-9

null

15.471[J]

false

False

14.442[J]

Advanced Asset Pricing

Focuses on solving, estimating, and empirically evaluating theoretical models of asset prices and financial markets, as well as their microeconomic foundations and macroeconomic implications. Discusses theory and econometric methods, the state of the literature, and recent developments and empirical evidence. Covers topics such as cross-sectional and time-series models, consumption-based and intermediary-based models, financial institutions, household finance, housing, behavioral finance, financial crises, and continuous-time tools and applications. Students complete a short term paper and a presentation. Primarily for doctoral students in finance, economics, and accounting.

true

Fall

Graduate

3-0-9

null

15.472[J]

false

False

14.444[J]

Energy Economics and Policy

Analyzes business and public policy issues in energy markets and in the environmental markets to which they are closely tied. Examines the economic determinants of industry structure and evolution of competition among firms in these industries. Investigates successful and unsuccessful strategies for entering new markets and competing in existing markets. Industries studied include oil, natural gas, coal, electricity, and transportation. Topics include climate change and environmental policy, the role of speculation in energy markets, the political economy of energy policies, and market power and antitrust. Two team-based simulation games, representing the world oil market and a deregulated electricity market, act to cement the concepts covered in lecture. Students taking graduate version complete additional assignments. Limited to 60.

true

Spring

Graduate

4-0-8

14.01 or 15.0111

15.038[J]

false

False

14.448[J]

Current Topics in Finance

Faculty present their current research in a wide variety of topics in finance. Provides a rapid overview of the literature, an in-depth presentation of selected contributions, and a list of potential research ideas for each topic. Faculty rotate every year to cover new topics. Primarily for doctoral students in accounting, economics, and finance.

true

Spring

Graduate

3-0-9 [P/D/F]

null

15.474[J]

false

False

14.449[J]

Current Research in Financial Economics

Advanced seminar intended for PhD students interested in finance. Topics and papers vary by term, following the latest research in academia and in correlation with the weekly finance faculty research seminar. Each week, students will critically review the contributions, method of analysis, and presentation of evidence of existing research; one session is devoted to preparing for the finance seminar, while the other session discusses further work on the same topic. Restricted to doctoral students.

true

Fall, IAP, Spring, Summer

Graduate

3-0-3 [P/D/F]

Permission of instructor

15.475[J]

false

False

14.45[J]

Climate and Energy in the Global Economy (New)

Provides students with a comprehensive understanding of the challenges, opportunities, and policy responses to the global climate and energy crises. Discusses the role of energy in world economies, paying particular attention to low- and middle-income countries, as well as the impacts of climate change on those economies. Considers how access, cost, reliability, and environmental harm drive or hinder economic growth, the political influences on the energy sector, the impacts of climate change on low- and middle-income countries, and the role of energy in mitigating future impacts of climate change. Also discusses global climate solutions, including the role of the United Nations Framework Convention on Climate Change process, trade policy, climate finance, business strategies to reduce emissions, and business strategies to help people adapt to a changing climate. Students taking graduate students complete additional assignments.

true

Spring

Undergraduate

3-0-9

14.01 or 15.0111

15.0161[J]

false

False

14.450[J]

Climate and Energy in the Global Economy (New)

Provides students with a comprehensive understanding of the challenges, opportunities, and policy responses to the global climate and energy crises. Discusses the role of energy in world economies, paying particular attention to low- and middle-income countries, as well as the impacts of climate change on those economies. Considers how access, cost, reliability, and environmental harm drive or hinder economic growth, the political influences on the energy sector, the impacts of climate change on low- and middle-income countries, and the role of energy in mitigating future impacts of climate change. Also discusses global climate solutions, including the role of the United Nations Framework Convention on Climate Change process, trade policy, climate finance, business strategies to reduce emissions, and business strategies to help people adapt to a changing climate. Students taking graduate students complete additional assignments.

true

Spring

Graduate

3-0-9

14.01, 15.010, 15.011, or 15.024

15.016[J]

false

False

14.451

Dynamic Optimization Methods with Applications

Provides an introduction to dynamic optimization methods, including discrete-time dynamic programming in non-stochastic and stochastic environments, and continuous time methods including the Pontryagin maximum principle. Applications may include the Ramsey model, irreversible investment models, and consumption choices under uncertainty. Enrollment limited.

true

Fall

Graduate

3-0-3

14.06 and permission of instructor

null

false

False

14.452

Economic Growth

Introduces the sources and modeling of economic growth and income differences across nations. Topics include an introduction to dynamic general equilibrium theory, the neoclassical growth model, overlapping generations, determinants of technological progress, endogenous growth models, measurement of technological progress, the role of human capital in economic growth, and growth in a global economy. Enrollment limited.

true

Fall

Graduate

3-0-3

14.451 and permission of instructor

null

false

False

14.453

Economic Fluctuations

Investigation of why aggregate economic activity fluctuates, and the role of policy in affecting fluctuations. Topics include the link between monetary policy and output, the economic cost of aggregate fluctuations, the costs and benefits of price stability, and the role of central banks. Introduction to real business cycle and new Keynesian models. Enrollment limited.

true

Spring

Graduate

3-0-3

14.452 and permission of instructor

null

false

False

14.454

Economic Crises

Provides an overview of models of the business cycle caused by financial markets' frictions and shocks. Topics include credit crunch, collateral shocks, bank runs, contagion, speculative bubbles, credit booms, leverage, safe asset shortages, capital flows and sudden stops. Enrollment limited.

true

Spring

Graduate

3-0-3

14.453 and permission of instructor

null

false

False

14.461

Advanced Macroeconomics I

Advanced subject in macroeconomics that seeks to bring students to the research frontier. Topics vary from year to year, covering a wide spectrum of classical and recent research. Topics may include business cycles, optimal monetary and tax policy, monetary economics, banking, and financial constraints on investment and incomplete markets.

true

Fall

Graduate

5-0-7

14.122 and 14.452

null

false

False

14.462

Advanced Macroeconomics II

Topics vary from year to year. Often includes coordination failures; frictions in beliefs, such as rational inattention, higher-order uncertainty, certain forms of bounded rationality, heterogeneous beliefs, and ambiguity; implications for business cycles, asset markets, and policy; financial frictions and obstacles to trade; intermediation; liquidity; safe assets; global imbalances; financial crises; and speculation.

true

Spring

Graduate

5-0-7

14.461

null

false

False

14.47[J]

Global Energy: Politics, Markets, and Policy

Focuses on the ways economics and politics influence the fate of energy technologies, business models, and policies around the world. Extends fundamental concepts in the social sciences to case studies and simulations that illustrate how corporate, government, and individual decisions shape energy and environmental outcomes. In a final project, students apply the concepts in order to assess the prospects for an energy innovation to scale and advance sustainability goals in a particular regional market. Recommended prerequisite: 14.01. Meets with 15.219 when offered concurrently. Expectations and evaluation criteria differ for students taking graduate version; consult syllabus or instructor for specific details. Preference to juniors, seniors, and Energy Minors.

true

Spring

Undergraduate

3-0-9

null

11.167[J], 15.2191[J], 17.399[J]

false

False

Social Sciences

False