Preparatory Semester
(mid-June to early August; many students are exempt; 2 credit each, if taken)
ECON300 Quantitative Methods for Economists (Credits: 2)
This course is an introduction to mathematics used in economics. Students learn to apply mathematical tools and methods in order to design models in economic analysis and to be able to read, understand, analyze and apply to economic theories and problems. Topics include integral calculus, multivariate calculus, optimization theory, linear algebra (matrix algebra), implicit function theorem, difference and differential equations. Students are required to complete weekly reading assignments and solve problem sets. Three hours of instructor-led class time per week.
Corequisite: ECON320
Prerequisite:
ECON301 Graduate Preparatory Microeconomics (Credits: 2)
The course provides a pre-graduate treatment to Consumer, Producer, and General Equilibrium theories and their applications. Topics include theories of utility and demand, production, cost functions in the short and long run general equilibrium analysis, and supply under differing market conditions of perfect competition and monopoly.
Corequisite:
Prerequisite:
ECON310 Statistical Methods for Economists (Credits: 2)
This course provides students with a survey of statistical methodology. Topics include probability and sampling, distribution theory, hypothesis testing, estimation, analysis of variance, confidence intervals, and linear regression. (Pass/Fail only)
Corequisite:
Prerequisite:
Core Semester
(late-August to mid-December; 3 credit each class)
ECON 305 Economic Analysis and Communication (Credits: 3)
This course provides students with a survey of statistical methodology. Topics include probability and sampling, distribution theory, hypothesis testing, estimation, analysis of variance, confidence intervals, and linear regression. (Pass/Fail only)
Corequisite:
Prerequisite:
ECON311 Econometrics (Credits: 3)
Through this course, students learn to apply statistical methods to quantify economic relationships. Topics include econometric models, hypothesis testing, least squares, instrumental variables, panel data methods, and time series. Through lectures and weekly problem sets, students learn to use statistical software to test and estimate economic relationships and evaluate empirical economic research. Students apply what they learn to real data and write an empirical paper on a topic of interest. Three hours of instructor-led class time per week.
Corequisite:
Prerequisite: ECON300 AND ECON310
ECON320 Microeconomic Theory (Credits: 3)
The course covers key topics in the modern microeconomic theory at an advanced graduate level. It focuses on the behavior of individual consumers and firms in making economic decisions and on how these decisions affect market outcomes. Topics include consumer and producer theory, decision making under uncertainty, general equilibrium and welfare properties, market equilibrium and market failure, perfect and imperfect competition. Throughout the course, students analyze various microeconomic problems and policy issues by completing weekly problem sets. Upon successful completion of this course, students will be able to employ quantitative techniques to model economic phenomena from the perspective of the individual agents.
Corequisite: ECON300
Prerequisite:
ECON330 Macroeconomic Theory (Credits: 3)
The course covers key topics in the modern macroeconomic theory at an advanced graduate level. It focuses on models of medium- and long-run macroeconomic dynamics and their empirical implications. Topics include different models of economic growth, theories of aggregate fluctuations, macroeconomic policy and their implications. Throughout the course, students analyze various macroeconomic problems and policy issues by completing weekly problem sets. Upon successful completion of this course, students will be able to employ quantitative techniques to model economic phenomena from the macroeconomic perspective.
Corequisite:
Prerequisite:
Specializing Semester
(mid-January to early July; 4 blocks of 5-week 1-credit classes)
Up to now the classes were full 3-credit classes, starting Spring 2023 the 1-credit system will be in place. Bellow are some of the courses offered:
ECON315 Financial Econometrics and Time Series Analysis (Credits: 3)
This course is an introduction to data analysis and econometric modeling using applications in finance and time series. The course uses concepts from microeconomics, finance, mathematical optimization, data analysis, probability models, statistical analysis, and econometrics. The course will be 16 weeks long. Each week consists of one 150 minutes lecture. Finance topics include asset return calculations, risk and performance measures, portfolio theory, index models, and applied time series analysis. Quantitative methods involve basic matrix algebra. Statistical topics include probabilities, expectation, joint distributions, covariance, normal distribution, sampling distributions, estimation and hypothesis testing, data analysis, linear regression, time series methods and simulations. There will be weekly frequent homework assignments requiring STATA programming. Students will work independently and periodically in groups to complete problem sets and group projects. Students will be graded on quizzes/problem sets, midterm and final exams. The course qualifies for all MSE tracks.
Corequisite:
Prerequisite: ECON310
ECON317 Data Scraping (Credits: 3)
This course will introduce the main methods of acquiring data from the web and other digital sources. Students will learn how to scrape, parse, and read web data as well as access data using web APIs (e.g. Twitter, LinkedIn etc.). They will work with HTML, JSON and other data formats in Python. They will also learn how to use a set of freely available tools to gather data from the web. The format of the course will be mainly case-based introducing the applications of data scraping in various aspects of business and economics. Student’s work will be evaluated based on class participation, quizzes/problem-sets, midterm and final project. The course qualifies for the MSE Applied Economics track.
Corequisite:
Prerequisite: ECON310
BUS321 Data Mining for Business Decisions (Credits: 3)
This course will examine how data analysis technologies can be used to improve decision making. You will study the fundamental principles and techniques of data mining, and will analyze real-world examples and cases to place data-mining techniques in context and to develop data-analytic thinking. You will work “hands-on” with data mining software. As an applied course, the emphasis will be less on the inner workings of each method and more on when and how to use each technique and how to interpret results. Students will be graded based on project presentations, homework assignments, midterm and end-term exams.
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Prerequisite:
ECON318 Advanced Econometrics I (Credits: 3)
Econometric methods for micro econometric models. Topics include limited dependent variable, qualitative variable, duration, and other models. The course will help you to develop data management, modeling, statistical programing, and interpretative skills. Students will be graded on quizzes/problem sets, midterm, project/presentation and final exams.
Corequisite:
Prerequisite: ECON310
ECON331 Monetary Theory and Policy (Credits: 3)
The course focuses on monetary aspects of the business cycle. Using different theoretical models the course studies the goals of monetary policy, the choice of policy instruments, the rule-versus-discretion debate, central bank credibility and etc. Throughout the course students analyze various problems and policy issues by completing weekly problem sets. Upon successful completion of this course, students will be able to employ quantitative techniques to model monetary phenomena. Students will be graded on problem sets, midterm and final exams. This is a 3 credit hour course. The course qualifies for the MSE Monetary and Macroeconomic Policy track.
Corequisite:
Prerequisite: ECON320 AND ECON330
ECON335 Monetary Policy and Financial Markets (Credits: 3)
The course covers topics in monetary policy and financial markets. It consists of two parts. The first part focuses on monetary aspects of the business cycle and covers different theoretical models of monetary policy, as well as relevant empirical evidence. The second part focuses on pricing of bonds, forward and futures contracts, risk measures, portfolio analysis and asset pricing models. During the course MatLab is used to simulate models and implement different methods. Throughout the course, students analyze various problems and policy issues by completing the weekly problem sets. Upon successful completion of this course, students will be able to employ quantitative techniques to model monetary and financial phenomena, as well as to study the impacts of implemented monetary policy. The course requires a solid background in mathematics. The course qualifies for the MSE Monetary and Macroeconomic Policy track.
Corequisite:
Prerequisite: ECON320 AND ECON330 AND ECON300
ECON336 Macroeconomic Policy Seminar (Credits: 3)
The course explores 3 major areas of modern macro–economic policies including basic policy goals, instruments, policy design, applications and their consequences. First the most prominent types of monetary policy regimes will be discussed, such as Inflation Targeting under flexible exchange rate, which will be followed by discussion on various forms of monetary systems and exchange rate regimes. Second macro prudential and regulatory policies for maintaining financial stability will be investigated. The third topic of the course will be de devoted to fiscal policy. Finally the course will touch such topics as international policy coordination, supervision and coordination or tradeoffs among monetary and fiscal/macro prudential policies.BREAKThe primary focus will be both on advanced economies and emerging markets including Armenia. The prevention and management of various types of economic crises will be discussed. In particular the 2008 US crisis, ongoing Eurozone crisis, their spillovers onto emerging markets and recent CIS region crisis and currency depreciations will be analyzed. Students will be graded on class participation, midterm and final exams. This is a 3 credit hour course. The course qualifies for the MSE Monetary and Macroeconomic Policy track.
Corequisite:
Prerequisite: ECON320 AND ECON330 AND ECON331
ECON340 International Trade (Credits: 3)
In this course we will study the main topics in the area of international trade and trade policy. Firstly, we refresh our knowledge in micro-foundations, intensively used throughout the course. Then we study the traditional trade theories and review the relevant empirical literature. In the second part of the course, we discuss trade policies such as tariffs, quotas and non-tariff barriers, as well as the key role of foreign direct investments and multinational firms in economic growth. Throughout the course, much time will be devoted to analyze empirical challenges in the discipline.
Corequisite:
Prerequisite: ECON300 AND ECON310 AND ECON320
ECON342 Labor Economics (Credits: 3)
This course aims to acquaint students with traditional and contemporary topics in labor economics. Topics covered may include wage and employment determination, discrimination, job mismatch, and human capital accumulation among many others. Special attention will be given to labor market policies. Theoretical and empirical aspects of labor economics will be covered with a particular emphasis on the interaction between theoretical and empirical modelling.
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ECON349 Special Topics Economics (Credits: 3)
This course is designed to introduce graduate students to some of the emerging global trends in Economics. Topics to be announced prior to course registration.
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ECON351 Finance Theory (Credits: 3)
This course covers modern finance theory and practice. The topics of the course include: 1) functions of financial markets and intermediaries; 2) analysis and valuation of traded securities; 3) portfolio management theory, tools for portfolio performance measurement and asset pricing models; 4) fixed-income securities; 5) introduction to derivatives and alternative investments; 6) SAA models and risk management tools; and 7) applications of economic analysis to portfolio management. Students will be graded on quizzes/problem sets, midterm and final exams. The course qualifies for the MSE Finance track.
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ECON354 Asset Allocation and Multi-asset Investing (Credits: 3)
The course examines asset allocation and multi-asset investing from a practitioner’s perspective. It is intended to explore the strategies, themes, and formal building blocks that practicing asset allocators need to be proficient in. In addition to becoming familiar with the substance of a range of investment topics, students will be taught how to present research and investment results in a professional setting. Student’s work will be evaluated based on class participation, in-class quizzes/problem sets, midterm and final project. The course qualifies for the MSE Finance track.
Corequisite:
Prerequisite: ECON315 AND ECON351
ECON355 Financial Markets and Modeling (Credits: 3)
The course examines the composition of financial markets, the analysis and valuation of traded securities, portfolio management theory and tools for portfolio performance measurement. To increase the practical skills of the students, relevant software is used to develop different methods and financial models. Throughout the course students analyze various problems and policy issues by completing weekly problem sets. Upon successful completion of this course, students will be able to understand financial relationships, how financial markets operate and employ quantitative techniques to analyze and evaluate investment decisions. Students will be graded on problem sets, midterm and final exams. This is a 3 credit hour course.
Corequisite:
Prerequisite: ECON320 AND ECON330
ECON361 Sustainable Development (Credits: 1)
The purpose of this course is to develop general understanding of sustainable development (SD) and the way this paradigm is translated into policy-making. Three basic blocks of the concept are presented step by step: economic development, social change and conservation of environment. The course will begin with reviewing the current state of the planet, exploring the inception of the SD concept, and international efforts undertaken in the mainstream of this concept since early 70s. Then the focus will shift to economic policy and discuss economic growth vs. economic development. The course will then move to the issues of social change, particularly addressing poverty and hunger, income inequality, education and human capital as factors of SD. Next the instructor will turn to the issues of overpopulation, urbanization, scarcity of natural resources and impact of these factors on SD.
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Planned Courses
Some 1- or 2-credit courses are already in making for Spring 2023. There is a high probability that they will be offered as electives. Students have to take 15 credits after the Core semester and before the Capstone Thesis.
- Impact evaluation
- Machine learning
- Empirical IO
- Market Structure
- Game and Decision Theory
- Behavioral Economics
- Experimental Economics
- Public Economics
- Data Analytics
- Development Economics
- Political Economics
- Growth Theories
- Macroprudential Policies
- Computational Macroeconomics
- International Macroeconomics
- Corporate Finance
- Teaching Economics
- Evolution of Economic Thought