Introduction to Econometrics teaches students how to use economic theory, statistical methods, and real-world data to answer important questions. The course emphasizes careful reasoning at every stage of empirical research—from developing a meaningful research question and preparing data to selecting an appropriate model and interpreting the results.
Students learn to work with R and RStudio while developing practical skills in:
- Ordinary least squares and multiple regression
- Hypothesis testing and confidence intervals
- Data visualization
- Dummy variables and interaction effects
- Logit and probit models
- Fixed and random effects
- Difference-in-differences estimation
- Time-series analysis and forecasting
A major component of the course is an independent research project. Each student develops an original research question, identifies appropriate data, prepares a research proposal, conducts an econometric analysis, and presents the completed paper. This process allows students to experience empirical research from beginning to end and to communicate their findings clearly to others.
The course also encourages responsible engagement with artificial intelligence. Students may use AI as a learning aid for brainstorming, clarification, and improving their work, but they must remain transparent about how it is used. All statistical analysis, interpretation, and final writing must reflect the student’s own reasoning.
Throughout the course, econometrics is presented as a tool for seeking truth, evaluating evidence honestly, and approaching complex social questions with integrity, compassion, and intellectual humility.
Environmental Economics examines the relationship between economic activity, natural resources, environmental quality, and human well-being. Students learn how economic reasoning can help explain environmental problems, evaluate competing policy responses, and identify solutions that support sustainable development.
The course connects economic theory with contemporary environmental challenges in both developed and developing countries. Major topics include:
- Markets, externalities, public goods, and the tragedy of the commons
- Property rights and natural resource allocation
- Economic valuation of environmental goods and services
- Discounting, uncertainty, and intergenerational equity
- Economic growth, poverty, and environmental degradation
- Carbon taxes, tradable permits, regulation, and subsidies
- Climate change mitigation and adaptation
- Renewable energy and sustainable resource transitions
- Environmental justice and the distributional effects of policy
- International environmental agreements and global cooperation
Students examine real-world case studies, compare the successes and limitations of different environmental policies, and debate the tradeoffs involved in balancing economic development with environmental protection. The course also considers how environmental burdens and policy benefits are distributed across communities, countries, and generations.
A major component of the course is an independent research project. Students select an environmental issue, examine the relevant economic evidence, develop a policy argument, and communicate their findings through a research paper and presentation. Seminars, policy discussions, and experiential learning opportunities help students connect classroom concepts to emerging environmental challenges.
Environmental economics is also presented as an ethical inquiry into stewardship, responsibility, justice, and the common good. Students are encouraged to approach environmental questions with intellectual openness, respect for evidence, and a serious consideration of how economic decisions affect both people and the natural world.
Intermediate Macroeconomic Theory examines how entire economies function and why economic activity changes over time. Students develop the analytical tools needed to understand growth, inflation, unemployment, recessions, monetary systems, government debt, and the policy choices that shape national and global economic outcomes.
The course brings together classical, Keynesian, neoclassical, and contemporary approaches to macroeconomics. Students learn how different models explain the same economic events and how the assumptions behind those models influence policy recommendations. Major topics include:
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National income and the measurement of economic activity
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Inflation, unemployment, and labor-market dynamics
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Money, banking, and the monetary system
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Long-run economic growth and technological progress
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Capital accumulation and population growth
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Business cycles and short-run economic fluctuations
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The IS-LM model and aggregate demand
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Aggregate supply and the inflation-unemployment tradeoff
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The Mundell-Fleming model and open-economy policy
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Exchange rates and international capital flows
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Fiscal policy, monetary policy, and economic stabilization
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Government debt and budget deficits
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International trade, globalization, and protectionism
Students use economic data, theoretical models, and current policy debates to examine how governments and central banks respond to changing economic conditions. They evaluate the tradeoffs involved in managing inflation, supporting employment, promoting long-run growth, and maintaining stability in an interconnected global economy.
A major component of the course is an independent project in which students investigate a macroeconomic question, apply relevant theory and evidence, and present their findings. Seminars and policy briefings provide additional opportunities to connect classroom models with real-world economic decisions.
The course encourages students to consider macroeconomic policy as both an analytical and a human concern. Decisions about inflation, unemployment, growth, taxation, and public debt affect households and communities differently. Students are therefore challenged to approach policy questions with intellectual honesty, careful attention to evidence, and a commitment to leadership, service, and the common good.
Development Economics begins with one of the most important questions in economics: Why are some countries wealthy while others remain poor? The course examines the economic foundations of development and underdevelopment, with particular attention to low- and middle-income countries.
Students use economic theory, empirical evidence, historical analysis, and real-world case studies to explore how markets, institutions, and public policies shape development outcomes.
Major topics include:
- Poverty, hunger, and global inequality
- Health, education, and human capital formation
- Population growth and demographic transition
- Risk, savings, credit constraints, and informal insurance
- Microfinance and financial inclusion
- Agriculture and structural transformation
- Economic growth and institutional development
- Government, taxation, and public expenditure
- Trade, globalization, and fair trade
- Formal and informal labor markets
- Gender, migration, wages, and productivity
- Foreign aid and its political economy
- Climate-related risks in developing economies
- Randomized controlled experiments and policy evaluation
The course encourages students to examine development policies critically. They consider the quality of the evidence, the institutional setting in which a policy operates, its distributional consequences, and the practical constraints that may determine whether it succeeds or fails.
Students complete an original research paper in which they investigate a development challenge, evaluate relevant theory and evidence, and develop an informed policy perspective. Presentations, case studies, policy discussions, and data-driven exercises strengthen their ability to communicate economic ideas clearly and assess competing approaches to development.
Development economics also raises important moral questions about human dignity, justice, opportunity, and responsibility toward vulnerable populations. Students are encouraged to approach poverty and inequality with analytical care, intellectual humility, compassion, and a commitment to policies and institutions that expand the ability of individuals and communities to flourish.