Columbia University in the City of New York · Courses
ECON GU
38 courses with the subject ECON GU, each shown exactly as we captured it from the college's catalog, with every element we hold. Where the wording looks broken, that is our reading of the catalog, not the college's text.
ECON GU4020ECON OF UNCERTAINTY ＆ INFORMTN3.00
Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 ECON W3211, W3213 and STAT 1201. Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 Topics include behavior uncertainty, expected utility hypothesis, insurance, portfolio choice, principle agent problems, screening and signaling, and information theories of financial intermediation
Prerequisites: ECON UN3211 and ECON UN3213 and MATH UN2010 ECON W3211, W3213, and MATH V2010. Corequisites: MATH UN2500,MATH GU4061 Prerequisites: ECON UN3211 and ECON UN3213 and MATH UN2010 Students must register for required discussion section. Corequisites: MATH UN2500 or MATH GU4061 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. Discussion section required
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 and MATH UN2010 ECON W3211, W3213, W3412 and MATH V2010. Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 and MATH UN2010 Required discussion section ECON GU4214 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
Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 ECON W3211, W3213 and STAT 1201. Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 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
Prerequisites: ECON UN3211 and ECON UN3213 ECON W3211 and W3213. Prerequisites: ECON UN3211 and ECON UN3213 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
Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 ECON W3211, ECON W3213 and STAT W1201. Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 This course uses modern microeconomic tools for understanding markets for indivisible resources and exploring ways to improve their design in terms of stability, efficiency and incentives. Lessons of market design will be applied to developing internet platforms for intermediating exchanges, for auctions to allocate sponsored search advertising, to allocate property rights such as public lands, radio spectrums, fishing rights, for assigning students to public schools, and for developing efficient kidney exchanges for transplantation
Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 ECON W3211, ECON W3213 and STAT 1201. Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 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. For information regarding REGISTRATION for this course, go to: http://econ.columbia.edu/registration-information
Prerequisites: ECON UN3211 and ECON UN3213 ECON W3211 and W3213. Prerequisites: ECON UN3211 and ECON UN3213 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
Prerequisites: ECON UN3211 and ECON UN3213 ECON W3211 and W3213. How do families decide who gets educated and who goes to work? Why do some people remain unemployed even when jobs are available? How do institutions, laws, and cultural norms shape who works, where, and for how much - and what are the consequences of these decisions around the world? ECON GU4321 explores the economic lives of people in low- and middle-income countries, with a focus on family and labor market issues. We'll examine how individuals and families make decisions about work, education, and marriage - and how these choices are shaped by social norms, market failures, and government policies. The course tackles contemporary development challenges including women's labor force participation, discrimination in hiring and wages, the relationship between marriage markets and human capital investment, and how climate change reshapes employment opportunities. Using both theoretical and empirical tools, we'll analyze the policy implications of these issues
Prerequisites: ECON UN3211 and ECON UN3213 ECON W3211 and W3213. Prerequisites: ECON UN3211 and ECON UN3213 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
This advanced elective equips economics majors with the tools to analyze the policy challenges and structural dynamics of Middle Eastern economies. Students will apply macroeconomic models and quantitative methods to understand topics such as oil and gas dependence, fiscal sustainability, inflation, trade, labor markets, demographic transition, institutional development, poverty, and the economics of conflict and reform. They will actively research and present case studies that illustrate the policy challenges in specific country settings. Readings are drawn from leading economics textbooks, research articles, policy reports, and multimedia sources, fostering collaboration, critical thinking, and data-driven discussions on contemporary regional development issues while remaining attentive to the human dimension and to the political economy context in which these policies unfold
Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 or ECON W3211, W3213, STAT 1201 (or POLS 4710 for those who declared prior to Spring 2014). The objective of this course is to develop understanding of how political institutions and behavior shape economic outcomes, and vice versa. Starting from the micro level study of political behavior, we will build up to analyze the internal workings of institutions and ultimately macro level economic and political outcomes. During the course we will cover the following topics • Limits and potential of markets • Public goods provision • Voting • Redistribution
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 and MATH UN2010 ECON W3211, ECON W3213, ECON W3412, MATH V2010. Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 and MATH UN2010 Students must register for required discussion section. 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
Prerequisites: ECON UN3211 and ECON UN3213 ECON W3211 and W3213. Prerequisites: ECON UN3211 and ECON UN3213 Introduction to the systematic treatment of game theory and its applications in economic analysis
Prerequisites: ECON UN3211 and ECON UN3213 Prerequisites: ECON UN3211 and ECON UN3213 ECON GU4400 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
Prerequisites: ECON UN3211 and ECON UN3213 ECON W3211 and W3213. Prerequisites: ECON UN3211 and ECON UN3213 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
Prerequisites: ECON UN3211 and ECON UN3213 ECON W3211, W3213. Prerequisites: ECON UN3211 and ECON UN3213 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
Prerequisites: ECON UN3211 and ECON UN3213 ECON W3211 and W3213. Prerequisites: ECON UN3211 and ECON UN3213 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
Prerequisites: ECON UN3211 and ECON UN3213 ECON W3211 and W3213. Prerequisites: ECON UN3211 and ECON UN3213. ECON GU4505 is an elective in the economics major. The course develops models for the analysis of the determinants of international capital flows, trade imbalances, and exchange rates. The models are then used as the basis for the discussion of topics such as Global Imbalances, Uncertainty and the Current Account, The Global Saving Glut, Purchasing Power Parity, Sudden Stops, Real Exchange Rates and Productivity, Covered Interest Rate Parity, Uncovered Interest Rate Parity, Borrowing Externalities and Optimal Capital Controls, Overborrowing, Macroeconomic Adjustment under Flexible and Fixed Exchange Rates, Twin Deficits, and Balance of Payment Crises
In lieu of the failure of legislatures to pass comprehensive carbon taxes, there is growing pressure on the financial system to address the risks of global warming. One set of pressures is to account for the heightened physical risks due to extreme weather events and potential climate tipping points. Another set of pressures are to find approaches to incentivize corporations to meet the goals set out in the Paris Treaty of 2015. These approaches include (1) mandates or restrictions to only hold companies with decarbonization plans, (2) development of negative emissions technologies such as direct-air capture and (3) promotion of natural capital markets that can be used to offset carbon emissions. Moreover, financial markets also provide crucial information on expectations and plans of economic agents regarding climate change. This course will cover both models and empirical methodologies that are necessary to assess the role of the financial system in addressing global warming
Prerequisites: (ECON UN3211) and (ECON UN3213) and (STAT UN1201) Prerequisites: (ECON UN3211) and (ECON UN3213) and (STAT UN1201) This course uses economic theory and empirical evidence to study the links between financial markets and the real economy. We will consider questions such as: What is the welfare role of finance? How do financial markets affect consumers and firms? How do shocks to the financial system transmit to the real economy? How do financial markets impact inequality?
ECON GU4720Empirical Macroeconomics and Finance3.00
This course develops empirical methods to investigate key questions in macroeconomics and finance, and discusses the existing empirical evidence on those questions. While models developed in macroeconomics and finance provide theoretical frameworks for understanding economic fluctuations, long-run growth, and policy interventions, empirical work is crucial for testing these models and informing policy decisions. The course will examine key macroeconomics/finance questions—such as the sources of short-run fluctuations, the determinants of long-run growth, or the role of financial markets in business cycles—through the lens of modern empirical techniques. We will put a special emphasis on implications for the design of economic policy. For instance, we will consider what the empirical evidence tells us on questions such as: can stimulus checks boost consumer spending? does monetary policy affect investment? should governments invest in R＆D? Special attention will be given to recent advances in identification strategies, including high-frequency event studies, differences-in-differences approaches, and instrumental variables tailored to macroeconomic settings. By integrating empirical evidence with theoretical insights, the course aims to equip students with the tools to critically assess macroeconomic policy and contribute to ongoing debates in the field
Prerequisites: ECON UN3211 and ECON UN3213 ECON W3211 and W3213. Prerequisites: ECON UN3211 and ECON UN3213 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
Prerequisites: ECON UN3211 and ECON UN3213 Prerequisites: ECON UN3211 and ECON UN3213 Within economics, the standard model of behavior is that of a perfectly rational, self interested utility maximizer with unlimited cognitive resources. In many cases, this provides a good approximation to the types of behavior that economists are interested in. However, over the past 30 years, experimental and behavioral economists have documented ways in which the standard model is not just wrong, but is wrong in ways that are important for economic outcomes. Understanding these behaviors, and their implications, is one of the most exciting areas of current economic inquiry. The aim of this course is to provide a grounding in the main areas of study within behavioral economics, including temptation and self control, fairness and reciprocity, reference dependence, bounded rationality and choice under risk and uncertainty. For each area we will study three things: 1. The evidence that indicates that the standard economic model is missing some important behavior 2. The models that have been developed to capture these behaviors 3. Applications of these models to (for example) finance, labor and development economics As well as the standard lectures, homework assignments, exams and so on, you will be asked to participate in economic experiments, the data from which will be used to illustrate some of the principals in the course. There will also be a certain small degree of classroom ‘flipping’, with a portion of many lectures given over to group problem solving. Finally, an integral part of the course will be a research proposal that you must complete by the end of the course, outlining a novel piece of research that you would be interested in doing
Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 ECON W3211, W3213; STAT 1201. Prerequisites: ECON UN3211 and ECON UN3213 and STAT UN1201 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
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Neoclassical finance theory seeks to explain financial market valuations and fluctuations in terms of investors having rational expectations and being able to trade without costs. Under these assumptions, markets are efficient in that stocks and other assets are always priced just right. The efficient markets hypothesis (EMH) has had an enormous influence over the past 50 years on the financial industry, from pricing to financial innovations, and on policy makers, from how markets are regulated to how monetary policy is set. But there was very little in prevailing EMH models to suggest the instabilities associated with the Financial Crisis of 2008 and indeed with earlier crises in financial market history. This course seeks to develop a set of tools to build a more robust model of financial markets that can account for a wider range of outcomes. It is based on an ongoing research agenda loosely dubbed “Behavioral Finance”, which seeks to incorporate more realistic assumptions concerning human rationality and market imperfections into finance models. Broadly, we show in this course that limitations of human rationality can lead to bubbles and busts such as the Internet Bubble of the mid-1990s and the Housing Bubble of the mid-2000s; that imperfections of markets — such as the difficulty of short-selling assets — can cause financial markets to undergo sudden and unpredictable crashes; and that agency problems or the problems of institutions can create instabilities in the financial system as recently occurred during the 2008 Financial Crisis. These instabilities in turn can have feedback effects to the performance of the real economy in the form of corporate investments
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 ECON W3211, W3213, W3412. Registration information is posted on the department's Seminar Sign-up webpage. Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Selected topics in microeconomics
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 ECON W3211, W3213, W3412. Registration information is posted on the department's Seminar Sign-up webpage. Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 Registration information is posted on the departments Seminar Sign-up webpage. Selected topics in macroeconomics. Selected topics will be posted on the departments webpage
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 ECON 3211, W3213, W3412, and sign-up in the department's office. Registration information is posted on the department's Seminar Sign-up webpage. Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 and sign-up in the departments office. Registration information is posted on the departments Seminar Sign-up webpage. Analyzing data in a more in-depth fashion than in ECON UN3412. Additional estimation techniques include limited dependent variable and simultaneous equation models. Go to the departments undergraduate Seminar Description webpage for a detailed description
Spring 2026: ECON GU4995 Course Number Section/Call Number Times/Location Instructor Points Enrollment ECON 4995 001/19586 Susan Elmes 1.00 8/800 Fall 2026: ECON GU4995 Course Number Section/Call Number Times/Location Instructor Points Enrollment ECON 4995 001/18137 Susan Elmes, Latoya Hart 1.00 6/50
Prerequisites: the director of undergraduate studies permission. 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
Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 and ECON W3211, W3213, W3412, and the director of the departmental honors program's permission. Students must have a minimum GPA of 3.7 in all required major courses, including calculus and statistics, prior to enrollment. Prerequisites: ECON UN3211 and ECON UN3213 and ECON UN3412 and the director of the departmental honors programs permission. 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. Please note that for those joint majors that require two seminars, one in economics and one in the other discipline (i.e. Political Science), the economics senior honors thesis seminar only fulfills the economics seminar requirement
