Economics - Mathematics

Departmental Office: 1022 International Affairs Building; 212-854-3680
http://www.columbia.edu/cu/economics/

Director of Undergraduate Studies: Dr. Susan Elmes, 1006 International Affairs Building; 212-854-9124; se5@columbia.edu

Director of Departmental Honors Program: Dr. Susan Elmes, 1006 International Affairs Building; 212-854-9124; se5@columbia.edu

Departmental Advisers: For a list of Economics Department advisers for the major, concentration, and interdepartmental majors, please see the departmental website.

Economics is the study of the ways in which society allocates its scarce resources among alternative uses and the consequences of these decisions. The areas of inquiry deal with a varied range of topics such as international trade, domestic and international financial systems, labor market analysis, and the study of less developed economies. Broadly speaking, the goal of an economics major is to train students to think analytically about social issues and, as such, provide a solid foundation for not only further study and careers in economics, but also for careers in law, public service, business, and related fields.

The Economics Department offers a general economics major in addition to five interdisciplinary majors structured to suit the interests and professional goals of a heterogeneous student body. All of these programs have different specific requirements but share the common structure of core theoretical courses that provide the foundation for higher-level elective courses culminating in a senior seminar. Students are urged to carefully look through the details of each of these programs and to contact an appropriate departmental adviser to discuss their particular interests.

Advanced Placement

Tests must be taken in both microeconomics and macroeconomics, with a score of 5 on one test and at least a 4 on the other. Provided that this is achieved, the department grants 4 credits for a score of 4 and 5 on the AP Economics exam along with exemption from ECON W1105 Principles of Economics .

Advising

The Department of Economics offers a variety of advising resources to provide prospective and current undergraduate majors and concentrators with the information and support needed to successfully navigate through the program. These resources are described below.

Frequently Asked Questions

Please see: http://econ.columbia.edu/frequently-asked-questions-0

As a first step, students are encouraged to visit the department's FAQ page, which provides comprehensive information and answers to the most frequently asked questions about the department majors and requirements. This page also includes a section that answers specific questions of first-years, sophomores, and non-majors.

Graduate Student Advisers

For answers to the most common questions that students have about the major, the department has graduate student advisers, who are available by email at econ-advising@columbia.edu, or during weekly office hours to meet with students.

Students should direct all questions and concerns about their major to the graduate student advisers either in person or via email. The graduate student advisers can discuss major requirements, scheduling, and major course selection, as well as review student checklists and discuss progress in the major. Occasionally, graduate student advisers may refer a student to someone else in the department (such as the director of undergraduate studies) or in the student's school for additional advising.

Contact information and office hours for the graduate student advisers are posted on the Advisers page of the departmental website in the week prior to the beginning of the semester. Students considering one of the interdepartmental majors should speak to both a graduate student adviser from the Economics Department and the adviser from the other department early in the sophomore year.

Faculty Advisers

Faculty advisers are available to discuss students' academic and career goals, both in terms of the undergraduate career and post-graduate degrees and research. Students wishing to discuss these types of substantive topics may request a faculty adviser by completing the form available on the Advisers page of the departmental website and depositing it in the mailbox of the director of undergraduate studies in the department's main office, 1022 International Affairs Building.

The department does its best to match students with faculty members that share similar academic interests. While faculty advisers do not discuss major requirements—that is the role of the graduate student advisers—they do provide guidance in course selection as it relates to meeting a student's intellectual goals and interests, as well as advise on career and research options. It is recommended that students who plan on attending a Ph.D. program in economics or are interested in pursuing economics research after graduation, request a faculty adviser.

Departmental Honors

Economics majors and economics joint majors who wish to be considered for departmental honors in economics must:

  1. Have at least a 3.7 GPA in their major courses
  2. Take ECON W4999 Senior Honors Thesis (a one-year course)
  3. Receive at least a grade of A- in ECON W4999 Senior Honors Thesis.

Students must consult and obtain the approval of the departmental undergraduate director in order to be admitted to the workshop. Please note that ECON W4999 Senior Honors Thesis may be taken to fulfill the seminar requirement for the economics major and all economics joint majors. Students who wish to write a senior thesis (ECON W4999 Senior Honors Thesis) must have completed the core major requirements and speak with the director of undergraduate studies in the spring semester of their junior year. Normally no more than 10% of the graduating majors in the department each year may receive departmental honors. Please see the departmental honors section in the department FAQ page for more information.

Undergraduate Prizes

All prize recipients are announced at the end of the spring semester each academic year.

Sanford S. Parker Prize

Established in 1980, this prize is awarded annually to a Columbia College graduating student who majored or concentrated in economics and plans on continuing his or her studies in an economics Ph.D. program within the two years following his or her graduation.

The Dean’s Prize in Economics

Awarded to General Studies students for excellence in the study of Economics.

Romine Prize

Established in 1997, this prize is awarded annually to two students (Columbia College or General Studies) majoring in economics: one for the best honors thesis paper, and the other for the best economics seminar paper.

On-Line Information

Students can access useful information on-line, including: a comprehensive FAQ page; requirement changes to the major and concentration; sample programs and checklists; faculty office hours, contact information and fields of specialization; adviser information; teaching assistant information; research assistant opportunities; list of tutors; and Columbia-Barnard Economics Society information.

Professors

  • Marcellus Andrews (Barnard)
  • Jushan Bai
  • Jagdish N. Bhagwati
  • Patrick Bolton (also Business School)
  • André Burgstaller (Barnard)
  • Alessandra Casella
  • Yeon-Koo Che
  • Pierre-André Chiappori
  • Graciela Chichilnisky
  • Richard Clarida
  • Donald Davis
  • Padma Desai (emeritus)
  • Prajit Dutta
  • Glenn Hubbard (also Business School)
  • Navin Kartik
  • Wojciech Kopczuk (also School of International and Public Affairs)
  • W. Bentley McLeod (also School of International and Public Affairs)
  • Perry Mehrling (Barnard)
  • Massimo Morelli (also Political Science)
  • Robert Mundell
  • Serena Ng
  • Brendan O'Flaherty
  • Edmund S. Phelps
  • Ricardo Reis
  • Michael Riordan
  • Jeffrey Sachs (also Earth Institute)
  • Xavier Sala-i-Martin
  • Bernard Salanié
  • José A. Scheinkman
  • Stephanie Schmitt-Grohé
  • Rajiv Sethi (Barnard)
  • Joseph Stiglitz (also Business School)
  • Martín Uribe
  • Miguel Urquiola (also School of International and Public Affairs)
  • David Weiman (Barnard)
  • David Weinstein (Chair)
  • Michael Woodford

Associate Professors

  • Douglas Almond (also School of International and Public Affairs)
  • Lena Edlund
  • Katherine Ho
  • Emi Nakamura (also Business School)
  • Jon Steinsson
  • Eric Verhoogen (also School of International and Public Affairs)
  • Jonathan Vogel

Assistant Professors

  • Christopher Conlon
  • Francois Gerard
  • Supreet Kaur
  • Jennifer La'O
  • Qingmin Liu
  • Suresh Naidu
  • Jaromir Nosal
    Pietro Ortoleva
  • Miikka Rokkanan
  • Christoph Rothe

Lecturers

  • Seyhan Arkonac
  • Tri Vi Dang
  • Sally Davidson
  • Susan Elmes
  • Sunil Gulati
  • Caterina Musatti

Adjunct Faculty

  • Edward Lincoln
  • Emanuel Moench
  • Steven Olley
  • Carl Riskin

On Leave

  • Profs. Ho, Vogel (2014-2015)
  • Profs. Che, Nakamura (Fall 2014)
  • Prof. Nosal (Spring 2015)

Guidelines for all Economics Majors, Concentrators, and Interdepartmental Majors

Economics Core Courses

All of the core courses must be completed no later than the spring semester of the student’s junior year and must be taken at Columbia. Students who take any core course during the fall semester of their senior year must obtain written permission from the department's director of undergraduate studies. Unless otherwise specified below all students must complete the following core courses:

ECON W1105 Principles of Economics
ECON W3211 Intermediate Microeconomics (it is recommended that this course be completed no later than the fall semester of the junior year)
ECON W3213 Intermediate Macroeconomics (it is recommended that this course be completed no later than the fall semester of the junior year)
ECON W3412 Introduction To Econometrics

Prerequisites

Course prerequisites are strictly enforced. Prerequisites must be taken before the course, not after or concurrently.

Economics courses taken before the completion of any of its prerequisites, even with instructor approval, are not counted toward the major, concentration, or interdepartmental majors. Exemptions from a prerequisite requirement may only be made, in writing, by the department's director of undergraduate studies. Credits from a course taken prior to the completion of its prerequisites are not counted towards the major requirements. As a consequence, students are required to complete additional, specific courses in economics at the direction of the director of undergraduate studies.

The prerequisites for required courses are as follows:

Course Prerequisites
ECON W1105 Principles of Economics
MATH V1101 Calculus I
None
STAT W1211 Introduction to Statistics (with calculus) MATH V1101 Calculus I
ECON W3213 Intermediate Macroeconomics MATH V1101 Calculus I
ECON W1105 Principles of Economics
ECON W3211 Intermediate Microeconomics MATH V1201 Calculus III
ECON W1105 Principles of Economics
ECON W3412 Introduction To Econometrics MATH V1201 Calculus III
STAT W1211 Introduction to Statistics (with calculus)
ECON W3211 Intermediate Microeconomics or W3213
ECON 2000-level electives ECON W1105 Principles of Economics
ECON W4370 Political Economy ECON W3211 Intermediate Microeconomics
ECON W3213 Intermediate Macroeconomics
STAT W1211 Introduction to Statistics (with calculus) or POLS W4910
ECON W4211 Advanced Microeconomics ECON W3211 Intermediate Microeconomics
ECON W3213 Intermediate Macroeconomics
Corequisites:
MATH V2500 Analysis and Optimization or W4061
MATH V2010 Linear Algebra
ECON W4213 Advanced Macroeconomics
ECON W4412 Advanced Econometrics
ECON W3211 Intermediate Microeconomics
ECON W3213 Intermediate Macroeconomics
ECON W3412 Introduction To Econometrics
MATH V2010 Linear Algebra
ECON W4413 Econometrics of Time Series and Forecasting ECON W3211 Intermediate Microeconomics
ECON W3412 Introduction To Econometrics
Co-requisite:
MATH V2010 Linear Algebra
ECON W3213 Intermediate Macroeconomics
ECON W4280 Corporate Finance
ECON W4020 Economics of Uncertainty and Information
ECON V3025 Financial Economics
ECON W4700 Financial Crises
ECON W3211 Intermediate Microeconomics
ECON W3213 Intermediate Macroeconomics
STAT W1211 Introduction to Statistics (with calculus)
All other ECON 3000- and 4000-level electives ECON W3211 Intermediate Microeconomics
ECON W3213 Intermediate Macroeconomics
ECON W4911 Seminar In Microeconomics
ECON W4913 Seminar In Macroeconomics
ECON W4918 Seminar In Econometrics
ECON W3211 Intermediate Microeconomics
ECON W3213 Intermediate Macroeconomics
ECON W3412 Introduction To Econometrics
ECPS W4921 Seminar In Political Economy ECON W3211 Intermediate Microeconomics
ECON W3213 Intermediate Macroeconomics
ECON W3412 Introduction To Econometrics or POLS W4911
ECON W4370 Political Economy
ECPH W4950 Economics and Philosophy Seminar ECON W3211 Intermediate Microeconomics
ECON W3213 Intermediate Macroeconomics
STAT W1211 Introduction to Statistics (with calculus)
Barnard electives See Barnard bulletin

It is strongly recommended that students take ECON W3412 Introduction To Econometrics in the semester immediately following the completion of the statistics course.

Grading

No course with a grade of D or lower, including calculus and statistics courses, can count toward the major, concentration, or interdepartmental majors. Economics core courses with a grade of D or F must be retaken and completed with a grade of C- or better.

Students who receive a grade of D or F in a core course are permitted to take a higher-level elective course that has that core course as a prerequisite, so long as it is taken concurrently with the retaking of that core course. For example, if a student fails ECON W3211 Intermediate Microeconomics, the student must retake it and in the same semester may enroll in an elective course for which it is a prerequisite, provided that all other prerequisites for the elective have been completed. The same rule applies to the required math and statistics courses. For example, if a student fails MATH V1201 Calculus III , the student may retake calculus III concurrently with Intermediate microeconomics. Students who must retake any core economics or math course may not retake it concurrently with a senior seminar; the economics core courses, ECON W3211 Intermediate Microeconomics , ECON W3213 Intermediate Macroeconomics , and ECON W3412 Introduction To Econometrics must be successfully completed before a student may enroll in a seminar.

A grade of W is not equivalent to a grade of D or F; it does not qualify a student to retake the course concurrently with a higher level course that lists the course as a prerequisite. Students who receive a grade of W in a core course must complete the course with a grade of C- or better before taking a course that lists it as a prerequisite.

Only ECON W1105 Principles of Economics may be taken for a grade of Pass/D/Fail, and the student must receive a grade of P for it to count towards the requirements for the major, concentration, or interdepartmental majors.

Economics Electives

Only those courses identified in the Economics Department listings in this Bulletin may be taken for elective credit. All 3000-level or higher electives offered by the Economics Department have ECON W3211 Intermediate Microeconomics and ECON W3213 Intermediate Macroeconomics as prerequisites. However, some electives have additional prerequisites and students should ensure that all prerequisites have been completed (see the table of prerequisites printed above). Seminars do not count as electives.

Seminars

Seminars can be taken only after all of the required core courses in economics have been completed. ECON W3412 Introduction To Econometrics may not be taken or retaken concurrently with a senior seminar. Seminars do not count as electives. Each seminar is limited to sixteen students, with priority given to seniors. For ECPS W4921 Seminar In Political Economy and ECON W4950 Economics and Philosophy Seminar, priority is given to economics–political science and economics-philosophy majors, respectively.

For seminar registration details, read the information posted on the department's Senior Seminar Registration page: http://econ.columbia.edu/senior-seminars-registration.

Mathematics

Students must consult with the Mathematics Department for the appropriate placement in the calculus sequence. Students must complete one of the following sequences:

Select one of the following sequences:
Calculus I
   and Calculus III
Honors Mathematics A
   and Honors Mathematics B

In addition:

  1. Students who receive a grade of D or F in MATH V1201 Calculus III must retake the course but may enroll in ECON W3211 Intermediate Microeconomics.
  2. Students who receive a grade of D or F in MATH V1207 Honors Mathematics A may either retake the course or take MATH V1201 Calculus III and enroll in ECON W3211 Intermediate Microeconomics concurrently.

Statistics

Unless otherwise specified below, all students must take STAT W1211 Introduction to Statistics (with calculus), or a higher level course such as SIEO W3600 Introduction to Probability and Statistics, SIEO W4150 Introduction to Probability and Statistics, or STAT W4107 Introduction to Statistical Inference.

Barnard Courses

A limited number of Barnard economics electives may count toward the major, concentration, and interdepartmental majors. Students should pay careful attention to the limit of Barnard electives indicated in their program requirements. Please see the Transfer Credit section below for information on the number of Barnard electives that may be taken to fulfill major requirements. In addition, students may receive credit for the major, concentration, and interdepartmental majors only for those Barnard economics courses listed in this Bulletin. However, students may not receive credit for two courses whose content overlaps. Barnard and Columbia economics electives with overlapping content include but are not limited to:

ECON BC3029
 - ECON W4321
Development Economics
   and Economic Development
ECON BC3038
 - ECON W4505
International Money and Finance
   and International Monetary Theory and Policy
ECON BC3019
 - ECON W4400
Labor Economics
   and Labor Economics
ECON BC3047
 - ECON W4500
International Trade
   and International Trade
ECON BC3039
 - ECON W4625
Environmental and Natural Resource Economics
   and Economics of the Environment
ECON BC3041
 - ECON G4235
Theoretical Foundations of Political Economy
   and Historical Foundations of Modern Economics: Adam Smith to J.M. Keynes

Students should always first consult with econ-advising to confirm that the Barnard elective they wish to take does not overlap with a Columbia elective that they have already taken or plan to take.  Students may not take the Barnard core economics, math, statistics, or seminar courses for credit towards the completion of major requirements.

Continuing Education Courses

The Department of Economics does not accept any of the courses offered through the School of Continuing Education for credit towards the economics major, concentration, or interdepartmental majors with the exception of the courses offered by the Economics Department during the summer session at Columbia.

Other Department and School Courses

Please note that with the exception of the above Barnard courses and the specific courses listed below for the financial economics major, no other courses offered through the different departments and schools at Columbia count toward the economics majors or concentration.

Transfer Credits

Students are required to take a minimum number of courses in the Columbia Economics Department. For all majors and interdepartmental majors other than economics-philosophy major, students must complete a minimum of five lecture courses in the Columbia department. Students in the economics-philosophy major who declared prior to spring 2014 and economics concentration must complete a minimum of four lecture courses. Students in the economics-philosophy major who declare in or after spring 2014 are required to take a minimum of five lecture courses. Students may fulfill their remaining requirements for economics lecture courses through AP (or IB or GCE) credits, Barnard electives, transfer courses, and study abroad courses (the latter two are subject to the approval of the Economics Department). The following table summarizes the new rules:

Program Number of required economics lecture courses Minimum number which must be taken in the department Maximum number of outside allowed
Economics major 9 5 4
Financial economics 8 5 3
Economics-mathematics 7 5 2
Economics-political science 7 5 2
Economics-statistics (declared prior to Spring 2014) 6 5 1
Economics-statistics (declared in Spring 2014 and beyond) 7 5 2
Economics-philosophy (declared prior to Spring 2014) 5 4 1
Economics-philosophy (declared in Spring 2014 and beyond) 7 5 2
Economics concentration 7 4 3
  1. Lecture courses do not include seminars, which must be taken in the Columbia Economics Department. The lecture course counts are counts of economics courses only and do not include math, statistics, or courses in other departments.
  2. At least two of the three 3000-level economics core courses must be taken in the department and no corresponding Barnard courses are accepted. ECON V3025 Financial Economics and ECON V3265 The Economics of Money and Banking are counted as departmental courses regardless of the instructor.
  3. Outside courses include AP (or IB or GCE) credits, transfer credits, Barnard 2000- and 3000-level elective courses and transfer credits from other universities. In the case where two or more courses taken outside of Columbia are used as the equivalent of ECON W1105 Principles of Economics, those courses are counted as one transfer course.

Approval of transfer credits to fulfill economics requirements must be obtained in writing from the Department of Economics (see the departmental website or speak with your advising dean for information regarding applications for transfer credit). Approval is granted only for courses that are considered to be comparable to those offered at Columbia.

Summer courses taken at other institutions must be approved in writing by the department's transfer credit adviser before the course is taken. Summer courses taken from the department of economics at Columbia University do not need approval.

Instructions on how to request transfer credit approval can be found in the Transfer Credit Information page of the departmental website.


Major in Economics

Please read Guidelines for all for Economics Majors, Concentrators, and Interdepartmental Majors above.

The economics major requires a minimum of 32 points in economics, 6 points in mathematics, and 3 points in statistics, for a total of 41 points as follows:

Economics Core Courses
All economics core courses
Mathematics
Select a mathematics sequence
Statistics
Select a statistics course
Economics Electives
Select at least five electives, of which no more than one may be taken at the 2000-level (including Barnard courses)
Economics Seminar
Select one economics seminar course

Concentration in Economics

Please read Guidelines for all for Economics Majors, Concentrators, and Interdepartmental Majors above.

The economics concentration requires a minimum of 22 points in economics, 6 points in mathematics, and 3 points in statistics, for a total of 31 points as follows:

Economics Core Courses
All economics core courses
Mathematics
Select a mathematics sequence
Statistics
Select a statistics course
Economics Electives
Select at least three electives, of which no more than one may be taken at the 2000-level (including Barnard courses)

Major in Financial Economics

Please read Guidelines for all for Economics Majors, Concentrators, and Interdepartmental Majors above.

The Department of Economics, in collaboration with the Business School, offers the major in financial economics, which provides an academic framework to explore the role of financial markets and intermediaries in the allocation (and misallocation) of capital. Among the topics studied in financial economics are financial markets, banks and other financial intermediaries, asset valuation, portfolio allocation, regulation and corporate governance.

The financial economics major requires 23 points in economics, 6 points in mathematics, 3 points in statistics, 3 points in business, and 12 points from a list of selected courses for a total of 47 points as follows:

Economics Core Courses
All economics core courses
Finance Core Courses 1
ECON V3025 Financial Economics
ECON W4280 Corporate Finance
BUSI W3013 Financial Accounting
or IEOR E2261 Introduction to Accounting and Finance
*NOTE: The department considers BUSI W3013 and IEOR E2261 as overlapping courses. Students who take both courses shall be credited with one course only. Financial economics majors who are also in the Business Management concentration program (CNBUMG) must take an additional elective from either the financial economics prescribed elective list (below) or from the CNBUMB prescribed list.
Mathematics
Select a mathematics sequence
Statistics
Select a statistics course
Electives
Select four of the following, of which two must be from the Columbia or Barnard economics departments, or equivalent economics transfer credits:
The Economics of Money and Banking
Economics of Uncertainty and Information
Advanced Macroeconomics
Industrial Organization
Advanced Econometrics
Game Theory
Public Economics
International Monetary Theory and Policy
International Money and Finance
Transition Reforms, Globalization and Financial Crisis
Financial Crises
Entrepreneurship
Economics of Business Organization
Entrepreneurship in Biotechnology
Marketing Management
Strategy Formulation
Leadership in Organizations
History of Finance
Introduction to Operations Research: Stochastic Models
Introduction to Financial Engineering
Discrete Time Models in Finance
Introduction to the Mathematics of Finance
Politics of International Economic Relations
Statistical Methods in Finance
Stochastic Processes for Finance
Theory of Interest
Seminar
The seminar must be chosen from a list of seminars eligible for the financial economics major. The department indicates which seminars are eligible for the major on the Senior Seminars page of the departmental website
Students must have completed at least one of ECON V3025 or ECON W4280 prior to taking their senior seminar.
1

Students must complete the finance core no later than fall of their senior year.


Major in Economics-Mathematics

Please read Guidelines for all for Economics Majors, Concentrators, and Interdepartmental Majors above.

The major in economics and mathematics provides students with a grounding in economic theory comparable to that provided by the general economics major and exposes students to rigorous and extensive training in mathematics. The program is recommended for any student planning to do graduate work in economics.

The Department of Economics has graduate student advisers with whom students may consult on economics requirements. The Department of Mathematics has an assigned adviser with whom students may consult on mathematics requirements. The economics adviser can only advise on economics requirements; the mathematics adviser can only advise on mathematics requirements.

The economics-mathematics major requires a total of 53 points: 26 points in economics and 27 points in mathematics and statistics as follows:

Economics Core Courses
All economics core courses
Economics Electives
Select three electives at the 3000-level or above
Mathematics
Select one of the following sequences:
Calculus I
   and Calculus II
   and Calculus III
   and Linear Algebra
Honors Mathematics A
   and Honors Mathematics B
MATH V2500 Analysis and Optimization
Select three of the following:
MATH E1210
Calculus IV
Any mathematics course at the 3000-level or above
Statistics
Select one of the following:
Introduction to Probability and Statistics
Introduction to Probability
   and Introduction to Statistical Inference
Introduction to Probability
   and Introduction to Statistical Inference
Economics Seminar
Select an economics seminar

NOTE: (1) Students who fulfill the statistics requirement with STAT W3105 and STAT W3107, or with STAT W4105 and STAT W4107, may count STAT W3105 or STAT W4105 as one of the three required mathematics electives. (2) Students who choose either of the one year sequence (STAT W3105/ STAT W3107 or STAT W4105STAT W4107), must complete the year long sequence prior to taking ECON W3412. Students receive elective credit for the probability course.


Major in Economics-Philosophy

Please read Guidelines for all for Economics Majors, Concentrators, and Interdepartmental Majors above.

Economics-philosophy is an interdisciplinary major that introduces students to basic methodologies of economics and philosophy and stresses areas of particular concern to both, e.g. rationality and decision making, justice and efficiency, freedom and collective choice, logic of empirical theories and testing. Many issues are dealt with historically. Classic texts of Plato, Kant, Mill, Marx, and Smith are reviewed.

The Department of Economics has graduate student advisers with whom students may consult on economics requirements. The Department of Philosophy has an assigned adviser with whom students may consult on philosophy requirements. The economics adviser can only advise on economics requirements; the philosophy adviser can only advise on philosophy requirements.

Students who declared prior to Spring 2014:

The economics-philosophy major requires a total of 44 points: 16 points in economics, 15 points in philosophy, 6 points in mathematics, 3 points in statistics, and 4 points in the interdisciplinary seminar as follows:

Economics Core Courses
ECON W1105 Principles of Economics
ECON W3211 Intermediate Microeconomics
ECON W3213 Intermediate Macroeconomics
Mathematics
Select a mathematics sequence
Statistics
Select a statistics course
Economics Electives
Select two of the following:
Economics of Uncertainty and Information
Globalization, Incomes and Inequality
Advanced Microeconomics
Advanced Macroeconomics
Urban Economics
Historical Foundations of Modern Economics: Adam Smith to J.M. Keynes
Theoretical Foundations of Political Economy
Economics of New York City
Economic Growth and Development
Economic Development
Political Economy
Labor Economics
Labor Economics
Game Theory
Economics of Race in the U.S.
Public Economics
Gender and Applied Economics
International Trade
International Trade
Law and Economics
Economics of the Environment
Environmental and Natural Resource Economics
Globalization and Its Risks
Inequality and Poverty
Philosophy Courses
PHIL C1010 Methods and Problems of Philosophical Thought
PHIL V3411 Symbolic Logic
PHIL V3701 Ethics (or another adviser-approved course in moral or political philosophy)
PHIL V3551 Philosophy of Science
or PHIL W3960 Epistemology
PHIL G4561 Probability and Decision Theory
or PHIL G4565 Rational Choice
Seminar
ECPH W4950 Economics and Philosophy Seminar (or another seminar in philosophy or economics approved by advisers in both department)

Students who declare in Spring 2014 and beyond:

In addition to the above requirements, students are required to take:

  1. ECON W3412 Introduction To Econometrics
  2. A third economics elective; two of the three electives must be from the prescribed list above, and the remaining economics elective may be any elective at the 3000-level or above.

Major in Economics–Political Science

Please read Guidelines for all for Economics Majors, Concentrators, and Interdepartmental Majors above.

Political economy is an interdisciplinary major that introduces students to the methodologies of economics and political science and stresses areas of particular concern to both. This program is particularly beneficial to students planning to do graduate work in schools of public policy and international affairs.

The Department of Economics has graduate student advisers with whom students may consult on economics requirements. The Department of Political Science has an assigned adviser with whom students may consult on political science requirements. The economics adviser can only advise on economics requirements; the political science adviser can only advise on political science requirements.

Students who declared prior to Spring 2014:

The economics–political science major requires a total of 54 points: 19 points in economics, 15 points in political science, 6 points in mathematics, 6 points in statistical methods, 4 points in a political science seminar, and 4 points in the interdisciplinary seminar as follows.

The political science courses are grouped into three areas, i.e. subfields: (1) American politics, (2) comparative politics, and (3) international relations. For the political science part of the major, students are required to select one area as a major subfield and one as a minor subfield. The corresponding introductory courses in both subfields must be taken, plus two electives in the major subfield, and one in the minor subfield.

Economics Core Courses
ECON W1105 Principles of Economics
ECON W3211 Intermediate Microeconomics
ECON W3213 Intermediate Macroeconomics
ECON W4370 Political Economy
Mathematics
Select a mathematics sequence
Statistical Methods
Select one of the following:
Introduction To Econometrics (and one of the statistics courses listed under Guidelines for all Economics Majors, Concentrators, and Interdepartmental Major)
Analysis of Political Data (and one of the statistics course listed under Guidelines for all Economics Majors, Concentrators, and Interdepartmental Majors)
Analysis of Political Data
   and Principles of Quantitative Political Research
Economics Electives
Select two electives (6 points) at the 3000-level or above
Political Science Courses
Major subfield (9 points) - including the introductory course, all in one of the three subfields of American politics, comparative politics, or international relations, coordinated with the economics electives and approved in advance by the adviser
Minor subfield (6 points) - including the introductory course in another subfield, coordinated with the economics electives and approved by the adviser
Seminars
A Political Science Department seminar, to be approved in advance by the adviser, in the major subfield
ECPS W4921 Seminar In Political Economy

NOTE: POLS W4910 Principles of Quantitative Political Research is not equivalent to STAT W1211 Introduction to Statistics (with calculus) and as such cannot be used to fulfill the prerequisite requirements of courses that require STAT W1211 Introduction to Statistics (with calculus), such as ECON W3412 Introduction To Econometrics, ECON V3025 Financial Economics, ECON W4280 Corporate Finance and ECON W4020 Economics of Uncertainty and Information.

Students who declare in Spring 2014 and beyond: 

In addition to the above requirements, students are required to take STAT W1211 Introduction to Statistics (with calculus) to satisfy the statistics requirement. POLS W4910 Principles of Quantitative Political Research will no longer be an accepted alternative course for the statistics requirement. Students will still have the option to take ECON W3412 Introduction To Econometrics or POLS W4911 Analysis of Political Data to complete the statistical methods requirement.


Major in Economics-Statistics

Please read Guidelines for all for Economics Majors, Concentrators, and Interdepartmental Majors above.

The major in economics-statistics provides students with a grounding in economic theory comparable to that provided by the general economics major, but also exposes students to a significantly more rigorous and extensive statistics training than is provided by the general major. This program is recommended for students with strong quantitative skills and for those contemplating graduate studies in economics.

The Department of Economics has graduate student advisers with whom students may consult on economics requirements. The Department of Statistics has an assigned adviser with whom students may consult on statistics requirements. The economics adviser can only advise on economics requirements; the statistics adviser can only advise on statistics requirements.

Students who declared prior to Spring 2014:

The economics-statistics major requires a total of 53 points: 23 in economics, 15 points in statistics, 12 points in mathematics, 3 points in computer science as follows:

Economics Core Courses
All economics core courses
Economics Electives
Select two electives at the 3000-level or above
Mathematics
Select one of the following sequences:
Calculus I
   and Calculus II
   and Calculus III
   and Linear Algebra
Honors Mathematics A
   and Honors Mathematics B
Statistics
STAT W1211 Introduction to Statistics (with calculus)
STAT W3105 Introduction to Probability
STAT W3107 Introduction to Statistical Inference
STAT W4315 Linear Regression Models
One elective (excluding STAT W1001 , STAT W1111 , STAT W2110 and SIEO W4150)
Computer Science
Select one of the following:
Introduction to Computer Science and Programming in Java
Introduction to Computer Science and Programming in MATLAB
Honors Introduction to Computer Science
Economics Seminar
ECON W4918 Seminar In Econometrics

Students who declare in Spring 2014 and beyond:

In addition to the above requirements, students are required to take:

  1. A third elective in Economics at the 3000-level or above (bringing the total to three electives).

Economics

ECON W1105 Principles of Economics. 4 points.

BC: Fulfillment of General Education Requirement: Social Analysis (SOC I)., Recitation Section Required, BC: Fulfillment of General Education Requirement: Social Analysis (SOC II).

Corequisites: ECON W1155 recitation section with the same instructor.

How a market economy determines the relative prices of goods, factors of production, and the allocation of resources and the circumstances under which it does it efficiently. Why such an economy has fluctuations and how they may becontrolled.

Spring 2015: ECON W1105
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1105 001/29872 M W 8:40am - 9:55am
501 Schermerhorn Hall
Sunil Gulati 4 182/220
ECON 1105 002/26331 M W 4:10pm - 5:25pm
309 Havemeyer Hall
Nicola Zaniboni 4 178/210
ECON 1105 003/63954 T Th 4:10pm - 5:25pm
501 Northwest Corner
Brendan O'Flaherty 4 143/210
Fall 2015: ECON W1105
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 1105 001/27311 T Th 8:40am - 9:55am
501 Schermerhorn Hall
Sunil Gulati 4 148/210
ECON 1105 002/71246 T Th 11:40am - 12:55pm
Room TBA
Caterina Musatti 4 101/210
ECON 1105 003/16570 M W 4:10pm - 5:25pm
Room TBA
Nicola Zaniboni 4 62/189

ECON W2105 The American Economy. 3 points.

Prerequisites: ECON W1105

The course surveys issues of interest in the American economy, including economic measurement, well-being and income distribution, business cycles and recession, the labor and housing markets, saving and wealth, fiscal policy, banking and finance, and topics in central banking. We study historical issues, institutions, measurement, current performance and recent research.

Fall 2015: ECON W2105
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 2105 001/69321 M W 10:10am - 11:25am
Room TBA
Sally Davidson 3 65/65

ECON W2257 Global Economy. 3 points.

Prerequisites: ECON W1105.

Covers five areas within the general field of international economics: (i) microeconomic issues of why countries trade, how the gains from trade are distributed, and protectionism; (ii) macroeconomic issues such as exchange rates, balance of payments and open economy macroeconomic adjustment, (iii) the role of international institutions (World Bank, IMF, etc); (iv) economic development and (v) economies in transition.

ECON W2290 India in Transition. 3 points.

Not offered during 2015-16 academic year.

Prerequisites: ECON W1105

This course focuses on the growth and development of the Indian economy from the late 16th century to the present, and considers the changes as the region came in contact with the global economy. The course begins with the transition from  the Mughal empire to the British and the experience of colonial rule. The course will then turn to the experience of post-independence India and the subsequent changes in the economy. There will be particular emphasis on the service sector led growth of recent years.

ECON W3211 Intermediate Microeconomics. 3 points.

Prerequisites: ECON W1105 or the equivalent; MATH V1101, MATH V1201 (or MATH V1207).

The determination of the relative prices of goods and factors of production and the allocation of resources.

Spring 2015: ECON W3211
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3211 001/10726 T Th 2:40pm - 3:55pm
517 Hamilton Hall
Pietro Ortoleva 3 78/86
ECON 3211 002/17331 T Th 5:40pm - 6:55pm
717 Hamilton Hall
Pietro Ortoleva 3 76/86
ECON 3211 003/28937 M W 4:10pm - 5:25pm
207 Mathematics Building
Susan Elmes 3 78/120
ECON 3211 004/26623 T Th 1:10pm - 2:25pm
207 Mathematics Building
Caterina Musatti 3 99/110
Fall 2015: ECON W3211
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3211 001/22668 T Th 11:40am - 12:55pm
Room TBA
Susan Elmes 3 86/86
ECON 3211 002/71067 T Th 2:40pm - 3:55pm
Room TBA
Susan Elmes 3 83/110
ECON 3211 003/64468 M W 8:40am - 9:55am
Room TBA
Prajit Dutta 3 86/86

ECON W3213 Intermediate Macroeconomics. 3 points.

Prerequisites: ECON W1105 or the equivalent; MATH V1101 or MATH V1207.

This course covers the determination of output, employment, inflation and interest rates. Topics include economic growth, business cycles, monetary and fiscal policy, consumption and savings and national income accounting.

Spring 2015: ECON W3213
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3213 001/13786 T Th 10:10am - 11:25am
501 Northwest Corner
Jon Steinsson 3 102/130
ECON 3213 002/67418 M W 8:40am - 9:55am
602 Hamilton Hall
Stephanie Schmitt-Grohe 3 36/86
ECON 3213 003/73424 M W 10:10am - 11:25am
602 Hamilton Hall
Stephanie Schmitt-Grohe 3 61/86
Fall 2015: ECON W3213
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3213 001/66364 M W 11:40am - 12:55pm
Room TBA
3 110/110
ECON 3213 002/13639 M W 1:10pm - 2:25pm
417 International Affairs Bldg
3 10/100
ECON 3213 003/71004 T Th 10:10am - 11:25am
Room TBA
3 86/86

ECON W3412 Introduction To Econometrics. 3 points.

Prerequisites: ECON W3211 or W3213; STAT W1211 or SIEO W4150; and MATH V1201 or V1207.

Modern econometric methods; the general linear statistical model and its extensions; simultaneous equations and the identification problem; time series problems; forecasting methods; extensive practice with the analysis of different types of data.

Spring 2015: ECON W3412
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3412 001/71840 M W 5:40pm - 6:55pm
310 Fayerweather
Christopher Conlon 3 60/86
ECON 3412 002/14187 M W 2:40pm - 3:55pm
717 Hamilton Hall
Jushan Bai 3 76/86
ECON 3412 003/20198 T Th 4:10pm - 5:25pm
517 Hamilton Hall
Christoph Rothe 3 55/86
Fall 2015: ECON W3412
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3412 001/64870 M W 2:40pm - 3:55pm
Room TBA
Seyhan Erden 3 96/96
ECON 3412 002/25472 T Th 1:10pm - 2:25pm
Room TBA
Seyhan Erden 3 96/96
ECON 3412 003/72238 T Th 8:40am - 9:55am
Room TBA
Mikka Rokkanen 3 31/86

ECON W4020 Economics of Uncertainty and Information. 3 points.

Prerequisites: ECON W3211, W3213 and STAT W1211.

Topics include behavior uncertainty, expected utility hypothesis, insurance, portfolio choice, principle agent problems, screening and signaling, and information theories of financial intermediation.

Spring 2015: ECON W4020
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4020 001/67165 T Th 2:40pm - 3:55pm
717 Hamilton Hall
Pierre-Andre Chiappori 3 29/86

ECON W4080 Globalization, Incomes and Inequality. 3 points.

Not offered during 2015-16 academic year.

Prerequisites: ECON W3211 and W3213

Considers how trade and other forms of economic integration redistribute income (and employment) within and between countries. Focuses on issues central to the discussion of the growth of U.S. wage inequality because of its inherent interest and because this discussion has been developed most fully in the literature and provides insight to many other cases.

ECON W4211 Advanced Microeconomics. 3 points.

Prerequisites: ECON W3211, W3213, and MATH V2010.
Corequisites: MATH V2500 or MATH W4061.

The course provides a rigorous introduction to microeconomics. Topics will vary with the instructor but will include consumer theory, producer theory, general equilibrium and welfare, social choice theory, game theory and information economics. This course is strongly recommended for students considering graduate work in economics.

Spring 2015: ECON W4211
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4211 001/75252 M W 11:40am - 12:55pm
417 Mathematics Building
Susan Elmes 3 36/64

ECON W4213 Advanced Macroeconomics. 3 points.

Prerequisites: ECON W3211, W3213, W3412 and MATH V2010.

An introduction to the dynamic models used in the study of modern macroeconomics. Applications of the models will include theoretical issues such as optimal lifetime consumption decisions and policy issues such as inflation targeting. This course is strongly recommended for students considering graduate work in economics.

Fall 2015: ECON W4213
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4213 001/24469  
3 24

ECON W4228 Urban Economics. 3 points.

Prerequisites: ECON W3211 and W3213.

Congestion and other games, and the pricing of transit services. Location theory and land rents. Segregation and discrimination. The fiscal structure of American cities. Zoning and the taking issue. Abandonment and city-owned property. Economic development, abatements, subsidies, and eminent domain. Crime, deadweight losses, and the allocation of police services.

Fall 2015: ECON W4228
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4228 001/72094 T Th 2:40pm - 3:55pm
Room TBA
3 86/86

ECON W4230 Economics of New York City. 3 points.

Prerequisites: ECON W3211, W3213 and STAT W1211

This course takes New York as our laboratory. Economics is about individual choice subject to constraints and the ways that choices sum up to something often much more than the parts. The fundamental feature of any city is the combination of those forces that bring people together and those that push them apart. Thus both physical and social space will be central to our discussions. The underlying theoretical and empirical analysis will touch on spatial aspects of urban economics, regional, and even international economics. We will aim to see these features in New York City taken as a whole, as well as in specific neighborhoods of the city. We will match these theoretical and empirical analyses with readings that reflect close observation of specific subjects. The close observation is meant to inspire you to probe deeply into a topic in order that the tools and approaches of economics may illuminate these issues in a fresh way.

ECON W4251 Industrial Organization. 3 points.

Prerequisites: ECON W3211 and W3213.

The study of industrial behavior based on game-theoretic oligopoly models. Topics include pricing models, strategic aspects of business practice, vertical integration, and technological innovation.

Spring 2015: ECON W4251
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4251 001/73379 T Th 10:10am - 11:25am
209 Havemeyer Hall
Michael Riordan 3 48/80
ECON 4251 002/63456 M W 1:10pm - 2:25pm
703 Hamilton Hall
Steven Olley 3 35/86
Fall 2015: ECON W4251
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4251 001/21226 M W 4:10pm - 5:25pm
Room TBA
Katherine Ho 3 86/86

ECON W4280 Corporate Finance. 3 points.

Prerequisites: ECON W3211, W3213 and STAT W1211.

[For information regarding REGISTRATION for this course, go to:  http://econ.columbia.edu/registration-information.]  An introduction to the economics principles underlying the financial decisions of firms. The topics covered include bond and stock valuations, capital budgeting, dividend policy, market efficiency, risk valuation, and risk management.

Spring 2015: ECON W4280
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4280 001/23165 T Th 1:10pm - 2:25pm
517 Hamilton Hall
Gailen Hite 3 66/80
ECON 4280 002/66423 T Th 4:10pm - 5:25pm
410 International Affairs Bldg
Tri Vi Dang 3 70/69
Fall 2015: ECON W4280
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4280 001/71770 M W 11:40am - 12:55pm
Room TBA
Mauricio Larrain 3 0/75
ECON 4280 002/13662 T Th 4:10pm - 5:25pm
Room TBA
Tri Vi Dang 3 0/75

ECON W4308 Comparative Economic History of the Americas. 3 points.

Not offered during 2015-16 academic year.

Prerequisites: ECON W3211 and W3213

A visiting faculty member to the Institute for Latin American Studies will offer a course on the economic history of the Americas. The course examines the evolution of the economic structure and economic performance of the Americas from the Colonial times until the most recent past. The course will be carried out in chronological order, comparing North America and Latin America as a whole and sub regions within the larger regions: Canada and the United States in North America and México, Central America, the Caribbean, the Andes, Brazil and the Southern Cone in Latin America. Econ-philosophy joint majors and Financial Economics majors may not take this course for elective credit.

ECON W4321 Economic Development. 3 points.

Prerequisites: ECON W3211 and W3213.

Historical comparative examination of the economic development problems of the less developed countries; the roles of social institutions and human resource development; the functions of urbanization, rural development, and international trade.

Spring 2015: ECON W4321
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4321 001/65016 M W 11:40am - 12:55pm
517 Hamilton Hall
Caterina Musatti 3 65/86

ECON W4325 Economic Organization and Development of Japan. 3 points.

CC/GS/SEAS: Partial Fulfillment of Global Core Requirement

Prerequisites: ECON W3211 and W3213.

The growth and structural changes of the post-World War II economy; its historical roots; interactions with cultural, social, and political institutions; economic relations with the rest of the world. 

Fall 2015: ECON W4325
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4325 001/19578 T Th 8:40am - 9:55am
Room TBA
Edward Lincoln 3 82/110

ECON W4370 Political Economy. 3 points.

Prerequisites: ECON W3211, W3213; STAT W1211 (or POLS W4910 for those who declared prior to Spring 2014).

The course studies the interaction between government and markets. The first part discusses market failures and the scope and limits of government intervention, including the use of modified market-type tools (for example, cap-and-trade regulations for pollution). The second part discusses collective decision-making, in particular voting and its properties and pathologies. The final part discusses economic inequality and government's role in addressing it.

Fall 2015: ECON W4370
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4370 001/61636 M W 8:40am - 9:55am
Room TBA
Alessandra Casella 3 73/86

ECON W4400 Labor Economics. 3 points.

Prerequisites: ECON W3211 and W3213.

The labor force and labor markets, educational and man power training, unions and collective bargaining, mobility and immobility, sex and race discrimination, unemployment.

ECON W4412 Advanced Econometrics. 3 points.

Prerequisites: ECON W3211, W3213, W3412, MATH V2010

The linear regression model will be presented in matrix form and basic asymptotic theory will be introduced. The course will also introduce students to basic time series methods for forecasting and analyzing economic data. Students will be expected to apply the tools to real data.

Fall 2015: ECON W4412
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4412 001/71905 T Th 1:10pm - 2:25pm
Room TBA
Serena Ng 3 29/40

ECON W4413 Econometrics of Time Series and Forecasting. 3 points.

Prerequisites: W3211, W3213, W3412
Corequisites: MATH V2010

This course focuses on the application of econometric methods to time series data; such data is common in the testing of macro and financial economics models. It will focus on the application of these methods to data problems in macro and finance.

ECON W4415 Game Theory. 3 points.

Prerequisites: ECON W3211 and W3213.

Introduction to the systematic treatment of game theory and its applications in economic analysis.

Spring 2015: ECON W4415
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4415 001/63989 T Th 1:10pm - 2:25pm
501 Northwest Corner
Qingmin Liu 3 85/130
Fall 2015: ECON W4415
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4415 001/10143 M W 10:10am - 11:25am
Room TBA
Prajit Dutta 3 96/96

ECON W4438 Economics of Race in the U.S.. 3 points.

Prerequisites: ECON W3211 and W3213. ECON W4400 is strongly recommended.

What differences does race make in the U.S. economy? Why does it make these differences? Are these differences things we should be concerned about? If so, what should be done? The course examines labor markets, housing markets, capital markets, crime, education, and the links among these markets. Both empirical and theoretical contributions are studied. 

Fall 2015: ECON W4438
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4438 001/70230 T Th 4:10pm - 5:25pm
Room TBA
Brendan O'Flaherty 3 71/86

ECON W4465 Public Economics. 3 points.

Prerequisites: ECON W3211 and W3213.

Types of market failures and rationales for government intervention in the economy. Benefit-cost analysis and the theory of public goods. Positive and normative aspects of taxation. The U.S. tax structure.

Spring 2015: ECON W4465
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4465 001/13827 M W 10:10am - 11:25am
717 Hamilton Hall
Francois Gerard 3 42/86
Fall 2015: ECON W4465
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4465 001/16618 M W 2:40pm - 3:55pm
Room TBA
Wojciech Kopczuk 3 50/86

ECON W4480 Gender and Applied Economics. 3 points.

Prerequisites: ECON W3211, W3213

This course studies gender gaps, their extent, determinants and consequences. The focus will be on the allocation of rights in different cultures and over time, why women's rights have typically been more limited and why most societies have traditionally favored males in the allocation of resources.

ECON W4500 International Trade. 3 points.

Prerequisites: ECON W3211 and W3213.

The theory of international trade, comparative advantage and the factor endowments explanation of trade, analysis of the theory and practice of commercial policy, economic integration. International mobility of capital and labor; the North-South debate.

Fall 2015: ECON W4500
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4500 001/60391  
3 0/54

ECON W4505 International Monetary Theory and Policy. 3 points.

Prerequisites: ECON W3211 and W3213.

Introduction to monetary problems in international trade. Topics include macroeconomics of the open economy under fixed and flexible exchange rates, international adjustment under the gold standard, monetary problems of the interwar period, the Breton Woods agreement, transition to flexible exchange rates, planned reforms of the international monetary system andthe Eurocurrency markets.

Spring 2015: ECON W4505
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4505 001/28415 M W 8:40am - 9:55am
428 Pupin Laboratories
Martin Uribe 3 70/120

ECON W4615 Law and Economics. 3 points.

Prerequisites: ECON W3211 and W3213.

The course is intended to provide an economic framework for understanding the law and legal institutions. Topics covered include property law, contract theory and torts.

ECON W4625 Economics of the Environment. 3 points.

Prerequisites: ECON W3211 and W3213.

Microeconomics is used to study who has an incentive to protect the environment. Government's possible and actual role in protecting the environment is explored. How do technological change, economic development, and free trade affect the environment? Emphasis on hypothesis testing and quantitative analysis of real-world policy issues.

Spring 2015: ECON W4625
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4625 001/71119 T Th 11:40am - 12:55pm
517 Hamilton Hall
Sara Avila 3 58/86

ECON W4700 Financial Crises. 3 points.

Prerequisites: ECON W3211, W3213 and STAT W1211

This course uses economic theory and empirical evidence to study the causes of financial crises and the effectiveness of policy responses to these crises. Particular attention will be given to some of the major economic and financial crises in the past century and to the crisis that began in August 2007.

Fall 2015: ECON W4700
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4700 001/25124 M W 11:40am - 12:55pm
Room TBA
Jose Scheinkman 3 86/86

ECON W4750 Globalization and Its Risks. 3 points.

Prerequisites: ECON W3211 and W3213.

The world is being transformed by dramatic increases in flows of people, goods and services across nations. Globalization has the potential for enormous gains but is also associated to serious risks. The gains are related to international commerce where the industrial countries dominate, while the risks involve the global environment, poverty and the satisfaction of basic needs that affect in great measure the developing nations. Both are linked to a historical division of the world into the North and the South-the industrial and the developing nations. Key to future evolution are (1) the creation of new markets that trade privately produced public goods, such as knowledge and greenhouse gas emissions, as in the Kyoto Protocol; (2) the updating of the Breton Woods Institutions, including the creation of a Knowledge Bank and an International Bank for Environmental Settlements.

ECON W4850 Cognitive Mechanisms and Economic Behavior. 3 points.

Prerequisites: ECON W3211, W3213; STAT W1211.

Standard economic theory seeks to explain human behavior (especially in "economic" settings, such as markets) in terms of rational choice, which means that the choices that are made can be predicted on the basis of what would best serve some coherent objective, under an objectively correct understanding of the predictable consequences of alternative actions. Observed behavior often seems difficult to reconcile with a strong form of this theory, even if incentives clearly have some influence on behavior; and the course will discuss empirical evidence (both from laboratory experiments and observations "in the field") for some well-established "anomalies." But beyond simply cataloguing anomalies for the standard theory, the course will consider the extent to which departures from a strong version of rational choice theory can be understood as reflecting cognitive processes that are also evident in other domains such as sensory perception; examples from visual perception will receive particular attention. And in addition to describing what is known about how the underlying mechanisms work (something that is understood in more detail in sensory contexts than in the case of value-based decision making), the course will consider the extent to which such mechanisms --- while "suboptimal" from a normative standpoint that treats perfect knowledge of one's situation as costless and automatic --- might actually represent efficient uses of the limited information and bounded information-processing resources available to actual people (or other organisms). Thus the course will consider both ways in which the realism of economic analysis may be improved by taking into account cognitive processes, and ways in which understanding of cognitive processes might be advanced by considering the "economic" problem of efficient use of limited (cognitive) resources.

Spring 2015: ECON W4850
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4850 001/83600 M W 4:10pm - 5:25pm
310 Fayerweather
Michael Woodford 3 46/116

ECON W4911 Seminar In Microeconomics. 4 points.

Prerequisites: ECON W3211, W3213, W3412. Registration information is posted on the department's Seminar Sign-up webpage.

Selected topics in microeconomics. Selected topics will be posted on the department webpage.

Spring 2015: ECON W4911
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4911 001/10014 Th 9:00am - 10:50am
1102 International Affairs Bldg
W. Bentley MacLeod 4 13/16
ECON 4911 002/77380 W 4:10pm - 6:00pm
1027 International Affairs Bldg
Sunil Gulati 4 16/16
ECON 4911 003/10705 M 4:10pm - 6:00pm
1027 International Affairs Bldg
Jagdish Bhagwati 4 16/16
ECON 4911 004/75703 T 11:00am - 12:50pm
1102 International Affairs Bldg
Tri Vi Dang 4 16/16
ECON 4911 005/69899 T 2:10pm - 4:00pm
1102 International Affairs Bldg
Alessandra Casella 4 10/16
ECON 4911 006/27236 Th 4:10pm - 6:00pm
1102 International Affairs Bldg
Neal Masia 4 16/16
Fall 2015: ECON W4911
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4911 000/66310  
Susan Elmes 4 137
ECON 4911 001/75381 T 4:10pm - 6:00pm
Room TBA
Sunil Gulati 4 0/16
ECON 4911 002/69932  
4 0/16
ECON 4911 003/66693 T 10:10am - 12:00pm
Room TBA
Tri Vi Dang 4 0/16
ECON 4911 004/27488 M 2:10pm - 4:00pm
Room TBA
Caterina Musatti 4 0/16
ECON 4911 005/14463 M 4:10pm - 6:00pm
Room TBA
Michael Riordan 4 0/16
ECON 4911 006/27288  
4 0/15

ECON W4913 Seminar In Macroeconomics. 4 points.

Prerequisites: ECON W3211, W3213, W3412. Registration information is posted on the department's Seminar Sign-up webpage.

Selected topics in macroeconomics. Selected topics will be posted on the department webpage.

Spring 2015: ECON W4913
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4913 001/17195 M 2:10pm - 4:00pm
1027 International Affairs Bldg
Edmund Phelps 4 16/16
ECON 4913 001/17195 Th 6:10pm - 8:00pm
Room TBA
Edmund Phelps 4 16/16
ECON 4913 002/11506 W 9:00am - 10:50am
1027 International Affairs Bldg
Sally Davidson 4 16/16
ECON 4913 003/25100 M 11:00am - 12:50pm
1027 International Affairs Bldg
Paul Bennett 4 15/16
ECON 4913 004/20569 W 2:10pm - 4:00pm
1027 International Affairs Bldg
Irasema Alonso 4 9/16
Fall 2015: ECON W4913
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4913 001/61613 Th 6:10pm - 8:00pm
Room TBA
4 0/16
ECON 4913 002/11611 Th 4:10pm - 6:00pm
Room TBA
Richard Clarida 4 0/16
ECON 4913 003/10976 T 7:00pm - 8:50pm
Room TBA
4 0/16

ECON W4918 Seminar In Econometrics. 4 points.

Prerequisites: ECON 3211, W3213, W3412, and sign-up in the department office. Registration information is posted on the department's Seminar Sign-up webpage.

Analyzing data in a more in-depth fashion than in ECON W3412. Additional estimation techniques include limited dependent variable and simultaneous equation models.

Spring 2015: ECON W4918
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4918 001/29529 Th 2:10pm - 4:00pm
1027 International Affairs Bldg
Seyhan Erden 4 16/16
Fall 2015: ECON W4918
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4918 001/70967  
4 0/16

ECON W4950 Economics and Philosophy Seminar. 4 points.

Prerequisites: ECON W3211, W3213, STAT W1211. Open only to economics-philosophy majors who are in his/her senior year. Students will be contacted by the Economics department for pre-enrollment.

Explores topics in the philosophy of economics such as welfare, social choice, and the history of political economy. Sometimes the emphasis is primarily historical and someimes on analysis of contemporary economic concepts and theories.

ECON W4996 Research Course. 1-2 points.

Prerequisites: permission of the director of undergraduate studies.

Provides students with the experience of participating in the research process by matching them to a faculty mentor who will put them to work on one of his or her current research projects. A list of available research positions is distributed each semester on the major listserv.

Spring 2015: ECON W4996
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4996 001/28201  
Susan Elmes 1-2 26
Fall 2015: ECON W4996
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4996 001/88699  
Susan Elmes 1-2 0

ECON W4997 Independent Study. 1-4 points.

Prerequisites: Permission of the director of undergraduate studies.

Fall 2015: ECON W4997
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4997 001/91847  
Susan Elmes 1-4 0

ECON W4998 Independent Study. 1-4 points.

Prerequisites: Permission of the director of undergraduate studies.

Spring 2015: ECON W4998
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4998 001/26788  
Susan Elmes 1-4 3

ECON W4999 Senior Honors Thesis. 6 points.

3 pts per semester

Prerequisites: ECON W3211, W3213, W3412. Permission of the director of the departmental honors program, and students must have a minimum GPA of 3.7 in all required major courses, including calculus and statistics, prior to enrollment.

The honors thesis seminar is a year long course, beginning in the fall semester and ending in the spring semester. Students who have been approved to enter the workshop will be registered for both semesters by the department during the first two weeks of classes; 3 points are earned per semester. This workshop may only be taken by students applying for departmental honors, and it also fulfills the economics seminar requirement for the economics major and all joint majors. Students must see the director during mid-semester registration in the spring to discuss their proposed thesis topic, at which time they will be matched with appropriate faculty who will act as their thesis adviser. Students will meet their adviser over the course of the year at mutually agreed upon times. A rough draft of the thesis will be due during the first week of February in the spring semester, and the final draft will be due three weeks before the last day of classes.

Spring 2015: ECON W4999
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4999 001/73218 Th 9:00am - 10:50am
1027 International Affairs Bldg
Lena Edlund 6 10
Fall 2015: ECON W4999
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4999 001/20940 Th 10:10am - 12:00pm
Room TBA
Lena Edlund 6 0

ECON V2029 FED Challenge Workshop. 1 point.

Prerequisites: ECON W1105

The workshop prepares students to compete in the annual College Fed Challenge sponsored by the Federal Reserve. Topics covered include macroeconomic and financial conditions, monetary policy, financial stability and the Federal Reserve System.

Fall 2015: ECON V2029
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 2029 001/76261 W 6:10pm - 8:00pm
Room TBA
Sally Davidson 1 26

ECON V3025 Financial Economics. 3 points.

Prerequisites: For R. Sethi: ECON BC3035 and ECON BC2411 or the equivalent. For S. Davidson: ECON BC3033, ECON BC3035, and ECON BC2411 or the equivalent.

Institutional nature and economic function of financial markets. Emphasis on both domestic and international markets (debt, stock, foreign exchange, Eurobond, Eurocurrency, futures, options, and other). Principles of security pricing and portfolio management; the Capital Asset Pricing Model and the Efficient Markets Hypothesis.

Spring 2015: ECON V3025
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3025 002/27222 T Th 11:40am - 12:55pm
501 Northwest Corner
Sally Davidson 3 132/150
Fall 2015: ECON V3025
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3025 001/23175 T Th 11:40am - 12:55pm
Room TBA
Sally Davidson 3 110/160
ECON 3025 002/07392 M W 10:10am - 11:25am
Room TBA
Rajiv Sethi 3 104/104

ECON V3265 The Economics of Money and Banking. 3 points.

Prerequisites: ECON BC3033 and ECON BC3035 or the equivalent.

Introduction to the principles of money and banking. The intermediary institutions of the American economy and their historical developments, current issues in monetary and financial reform.

Spring 2015: ECON V3265
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3265 001/73755 M W 1:10pm - 2:25pm
717 Hamilton Hall
Jennifer La'O 3 56/110
Fall 2015: ECON V3265
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 3265 001/05362 M W 6:10pm - 7:25pm
Room TBA
Perry Mehrling 3 145

ECON G4235 Historical Foundations of Modern Economics: Adam Smith to J.M. Keynes. 3 points.

Prerequisites: ECON W3211 and W3213.

A survey of some of the major intellectual developments that have created the discipline of economics. Particular attention to the works of Adam Smith, Alfred Marshall, Irving Fisher, and J. M. Keynes.

Spring 2015: ECON G4235
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4235 001/02473 T 6:10pm - 8:00pm
Ll103 Diana Center
Andre Burgstaller 3 43/60

ECON G4301 Economic Growth and Development. 3 points.

Prerequisites: ECON W3211 and W3213.

Empirical findings on economic development, theoretical development models; problems of efficient resource allocation in a growing economy; balanced and unbalanced growth in closed and open economic systems; the role of capital accumulation and innovation in economic growth.

Fall 2015: ECON G4301
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4301 001/17284 T 2:10pm - 4:00pm
Room TBA
3 0/70

ECON G4311 Economic History of the United States. 3 points.

BC: Fulfillment of General Education Requirement: Historical Studies (HIS).
Not offered during 2015-16 academic year.

Economic development of the U.S., with special attention to the forces and factors responsible for economic growth: innovation, capital formation, transportation, banking, international trade and capital movements, immigration, and the labor supply. The interactions of public policy and private decision making.

ECON G4313 Economic History of Europe. 3 points.

Not offered during 2015-16 academic year.

Prerequisite: ECON W3211 or the equivalent.  The economic development of Europe from 1700 to the present, with emphasis on those factors responsible for modern economic growth and its pace; technical change, capital formation, labor supply, national and international finance, distribution, international trade, social structure, and the role of public policy.

ECON G4526 Transition Reforms, Globalization and Financial Crisis. 3 points.

Not offered during 2015-16 academic year.

Prerequisites: ECON W3211 and W3213.

Covers reform issues in transition economies such as price liberalizatin, currency reform, asset privatization, macroeconomic stabilization, trade liberalization and exchange rate policies, and foreign resource flows with suitable examples from the experience of the transition economies of Russia, the post-Soviet states, East-central Europe, China and Vietnam.

ECON G4527 Economic Organization and Development of China. 3 points.

Prerequisites: ECON W3211 and W3213.

An analytical survey of the economic organization of China, with reference to population and land resources, agriculture, industries, transportation, trade, and finance. The social and cultural forces affecting economic development.

Spring 2015: ECON G4527
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECON 4527 001/23102 T 4:10pm - 6:00pm
403 International Affairs Bldg
Carl Riskin 3 37/40

Economics - Philosophy

ECPH W4950 Economics and Philosophy Seminar. 3 points.

Prerequisites: ECON W3211, W 3213, and STAT W1211

Explores topics in the philosophy of economics such as welfare, social choice, and the history of political economy. Sometimes the emphasis is primarily historical and sometimes on analysis of contemporary economic concepts and theories.

Spring 2015: ECPH W4950
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECPH 4950 001/15455 T 11:00am - 12:50pm
1101 International Affairs Bldg
Brendan O'Flaherty, Philip Kitcher 3 14

Economics - Political Science

ECPS W4921 Seminar In Political Economy. 4 points.

Prerequisites: ECON W3211, W3213, W3412 (or POLS W4911), W4370. Priority will be given to economics-political science majors who are in his/her senior year. Registration information is posted on the department's Seminar Sign-up webpage.

Required for majors in the joint program between political science and economics. Preference is given to economics-political science majors, but any available space is open to students who have taken the elective course in political economy. Provides a forum in which students can integrate the economics and political science approach to political economy. The theoretical tools learned in political economy are applied: the analysis of a historical episode and the empirical relation between income distribution and politics on one side and growth on the other.

Spring 2015: ECPS W4921
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECPS 4921 001/73141 T 4:10pm - 6:00pm
1027 International Affairs Bldg
Navin Kartik 4 7/15

ECPS W4921 (Section 2) Seminar in Political Economy. 4 points.

Prerequisites: ECON W3211, W3213, W3412 (or POLS W4911), W4370. Priority will be given to economics-political science majors who are in his/her senior year. Registration information is posted on the department's Seminar Sign-up webpage.

Required for majors in the joint program between political science and economics. Preference is given to economics-political science majors, but any available space is open to students who have taken the elective course in political economy. Provides a forum in which students can integrate the economics and political science approach to political economy. The theoretical tools learned in political economy are applied: the analysis of a historical episode and the empirical relation between income distribution and politics on one side and growth on the other.  

Spring 2015: ECPS W4921 (Section 2)
Course Number Section/Call Number Times/Location Instructor Points Enrollment
ECPS 4921 002/14935 W 11:00am - 12:50pm
1027 International Affairs Bldg
Salvatore Nunnari 4 14/16

Of Related Interest

Note: Barnard economic core courses (ECON BC1003ECON BC1007ECON BC2411ECON BC3018ECON BC3033ECON BC3035) and seminars do not count towards the Columbia economics major and concentration.

Economics (Barnard)
ECON BC1003 Introduction to Economic Reasoning
ECON BC1007 Mathematical Methods for Economics
ECON BC2010 The Economics of Gender
ECON BC2012 Economic History of Western Europe
ECON BC2075 Logic and Limits of Economic Justice
ECON BC2411 Statistics for Economics
ECON BC3011 Inequality and Poverty
ECON BC3012 Economics of Education
ECON BC3013 Economic History of the United States
ECON BC3014 Entrepreneurship
ECON BC3017 Economics of Business Organization
ECON BC3018 Econometrics
ECON BC3019 Labor Economics
ECON BC3022 Economic History of Europe
ECON BC3023 Topics in Economic History
ECON V3025 Financial Economics
ECON BC3029 Development Economics
ECON BC3033 Intermediate Macroeconomic Theory
ECON BC3035 Intermediate Microeconomic Theory
ECON BC3038 International Money and Finance
ECON BC3039 Environmental and Natural Resource Economics
ECON BC3041 Theoretical Foundations of Political Economy
ECON BC3045 Business Cycles
ECON BC3047 International Trade
ECON BC3049 Economic Evaluation of Social Programs
ECON V3265 The Economics of Money and Banking
ECON BC3270 Topics in Money and Finance