Graduate Courses

Course credits [(3, unless indicated otherwise)] and course frequency in parentheses: [(Y) = once a year; (IR) = irregularly].

ECON 5090 - (Y)
Introduction to Mathematical Economics I

Prerequisite: One semester of calculus plus one additional semester of college mathematics or permission of instructor
Modern economics employs mathematics to develop rigorous models and theories to describe economic behavior.   This course will familiarize you with some of the most fundamental mathematics used in economics and prepare you to reason like a mathematician.  In order to achieve the first goal, the course covers the basics of many topics including linear algebra, real analysis, and optimization.  In order to cover as much as possible, the course focuses on the math although there will be a few economic examples.  For the second goal, we will develop rigorous proofs of most of the theory in class.  (This course begins approximately one week before regular Fall classes begins and is completed mid-semester.)

Econ 5520 - (IR)
SPECIAL TOPICS IN ECONOMICS

Prerequisite: Instructor permission
Graduate students combine course work in an upper-level undergraduate economics course with additional special assignments. Restricted to graduate students. Graduate students in economics must have permission of the Director of Graduate Studies. Because topics vary with instructor, the course may be taken more than once.

ECON 5720 - (Y)
Econometric Methods

Prerequisite: ECON 3710 or the equivalent and one semester of calculus
Meets concurrently with Econ 4720. The application of statistical methods to the testing and estimation of economic relations. Development of the linear regression model including hypothesis testing, specification, instrumental variables, generalized least squares. Introduction to identification and estimation of simultaneous equation models.

ECON 7010 - (4) (Y)
Microeconomic Theory I

Prerequisite: Graduate standing or permission of instructor
This is the first course in a three-semester graduate microeconomics sequence designed to equip you with the basic analytical tools of modern microeconomic theory. We will cover producer theory, consumer preferences, utility theory, consumer choice, and choice under uncertainty. These tools will prepare you for the second course (Econ 7030), which examines market structure, general equilibrium, and welfare, and the third (Econ 8010), which introduces game theory and models of asymmetric information.

 

ECON 7020 - (4) (Y)
Macroeconomic Theory I

Prerequisite: Graduate standing or permission of instructor
The main goal of this course is to teach you the necessary tools that can be applied to give answers, both qualitative and quantitative, to many different problems in (macro)economics. Research at the frontier of macroeconomics uses general equilibrium models that are built from taking individual choice problems and aggregating. To do so, we need to first develop of the tools and concepts of general equilibrium theory. Since most interesting questions in economics involve choices over time and under uncertainty, we will develop general equilibrium theory using dynamic exchange economies. Using these concepts, we will then introduce the main building block of modern macroeconomics, the Neoclassical Growth Model. We will study how to formulate the problem in a recursive fashion and study many applications. Finally, in the last portion of the course we will start to depart from the stylized models of the first section and introduce certain ‘frictions’ like incomplete markets, limited commitment, private information, and search. 

ECON 7030 - (4) (Y)
Microeconomic Theory II

Prerequisite: ECON 7010 or permission of instructor
The course constitutes the second part of the graduate sequence in Microeconomics. The emphasis here is on market equilibrium and market failure, in particular, the optimality properties of a competitive equilibrium and the circumstances under which a market equilibrium fails to be optimal.  We start with a partial equilibrium analysis to illustrate the market mechanism and the basic welfare theorems.  We then consider some prime reasons for market failure: externalities and market power.  The equilibrium analysis is then extended to consider inter-related markets, or general equilibrium analysis.  We prove the fundamental welfare theorems in this setting, and apply the analysis to international trade.

ECON 7040 - (4) (Y)
Macroeconomic Theory II

Prerequisite: ECON 7020 or permission of instructor
This course is the second part of a two-part sequence in macroeconomics. The focus of the course will be on business cycle fluctuations and on the analysis, solution and calibration of dynamic stochastic general equilibrium (DSGE) models.

ECON 7710 - (4) (Y)
Econometrics I

Prerequisite: Graduate standing or permission of instructor
Econometrics I provides probability and statistical foundations of Econometrics. The course begins by studying measure-theoretic concepts of probability and then evolves to the analysis of stochastic convergence and basic concentration results. The course then covers statistical concepts of random sampling, sample statistics and stochastic approximation. The last part of the course studies construction of statistical decisions and tests using the preceding course material.

ECON 7720 - (4) (Y)
Econometrics II

Prerequisite: ECON 7710 or permission of instructor
ECON 7720 is the second-half of a year -long sequence in economic statistics and econometrics.   This sequence is designed for first year Ph.D. students in economics and, combined with either Economics 871 or 872, serves to meet the departmental Ph.D. statistics and econometrics requirement. After some introductory material on prediction and estimation, the course is divided in three parts. The first part is devoted to the linear regression model, covering different estimation and testing procedures, and also, we discuss identification issues. The second part introduces generalized method of moments (GMM), and uses GMM to explore a range of non-linear models (e.g, binary choice and censored). Finally, the third part covers the selection problem using both partial identification and linear simultaneous equations models. 

ECON 8010 - (4) (Y)
Microeconomic Theory III

Prerequisite: ECON 7030 or permission of instructor
ECON 8010 is an introduction to non-cooperative game theory and the economics of information, emphasizing applications to microeconomics. Applications include topics such as bargaining, cooperation in repeated games, the design of optimal auctions, and signalling models.

ECON 8050 - (IR)
American Economic History

Prerequisite: Graduate standing or permission of instructor
Economic evolution of the United States.

ECON 8150 - (Y)
Economics of Labor Markets

Prerequisite: ECON 7030 and ECON 7720 or permission of instructor
Introduction to labor economics, including economic aspects of employment, wages, schooling, labor unions, and discrimination.

ECON 8160- (Y)
Seminar in Labor Economics and Development

Prerequisite: ECON 8150 and ECON 7720
Advanced topics in labor economics, with an emphasis on applications to developing countries. Cross listed with Econ 8190.

ECON 8170 - (Y)
Industrial Organization I

Prerequisite: ECON 7030 or permission of instructor
Industrial structure of the economy and its effect on the allocation of resources.

ECON 8180 - (Y)
Industrial Organization II

Prerequisite: ECON 8170 or permission of instructor
Advanced study of selected problems in industrial organization.

ECON 8190 - (Y)
Economics of Underdeveloped Areas

Cross listed as Econ 8160.

ECON 8210 - (Y)
International Trade Theory

Prerequisite: ECON 7030 or permission of instructor
The theory of international trade and analysis of the economic effects of tariffs, quotas, and other departures from free trade.

ECON 8220 - (Y)
International Finance

Prerequisite: ECON 7020 or permission of instructor
Balance of payments, long-term and short-term capital movements, the international money market, international monetary standards, international equilibrium and the mechanism of adjustment, exchange variations, and the objectives of international monetary policies.

ECON 8230 - (Y)
Advanced Topics in International Trade

Prerequisite: ECON 7030 or permission of instructor

ECON 8310 - (Y)
Public Economics I

Prerequisite: ECON 7030 or permission of instructor
Justifications for government activities; principles of program analysis; illustrative theoretical and empirical analyses of expenditure programs; theories of political processes.

ECON 8320 - (Y)
Public Economics II

Prerequisite: ECON 7030 or permission of instructor
Foundations of excess burden, incidence analysis, and optimal taxation; studies of taxation; general equilibrium analysis for tax policy; study of tax reform.

ECON 8350 - (Y)
Advanced Macroeconomic Theory

Prerequisite: ECON 7040 or permission of instructor
Advanced study of selected topics in macro-and monetary economics, with an emphasis on theoretical and computational issues.

ECON 8360 - (Y)
Empirical Macroeconomics

Prerequisite: ECON 7040 or permission of instructor
Advanced study of selected topics in macro- and monetary economics, with an emphasis on empirical issues.

ECON 8410 - (Y)
Applied Microeconomics Workshop

Prerequisite: Third-year status or permission of instructor
Current research in applied microeconomics.

ECON 8420 - (Y)
Macroeconomics Workshop

Prerequisite: Third-year status or permission of instructor
Current research in macroeconomics.

ECON 8430 - (Y)
Economic Theory Workshop

Prerequisite: Third-year status or permission of instructor
Current research in economic theory.

ECON 8440 - (Y)
International Trade and Development Workshop

Prerequisite: Third-year status or permission of instructor
Current research in finance.

ECON 8450 - (Y)
Public Economics Workshop

Prerequisite: Third-year status or permission of instructor
Current research in public economics.

ECON 8460 - (Y)
Econometrics Workshop

Prerequisite: Third-year status or permission of instructor
Current research in econometrics

ECON 8510 - (Y)
Topics in Growth Theory

Prerequisite: ECON 7040 or permission of instructor
An empirical and theoretical study of the issues related to economic development, with an emphasis on endogenous growth models. Topics covered include human capital, R&D, learning by doing, fiscal policy, trade, and financial development.

ECON 8710 - (Y)
Cross-Section Econometrics

Prerequisite: ECON 7720 or permission of instructor
Econometric tools for the analyses of cross-section and qualitative data.

ECON 8720 - (Y)
Time-Series Econometrics

Prerequisite: ECON 7720 or permission of instructor
Econometric techniques for the analysis of economic time series.

ECON 8730 - (Y)
Econometric Methods for Data-Rich Environments

Prerequisite: Must have completed ECON 7710 and 7720
"Traditional" econometric inference is hard to implement in "big data" settings. This course provides a bridge between highly efficient scalable tools from Machine Learning and nonparametric econometric models. The focus will be on developing non-parametric models of large datasets, establishing uniform consistency results for the analyzed models, and bridging the computational efficiency and statistical properties of the estimators.

ECON 8820 - (Y)
Experimental Economics

Prerequisite: ECON 7010 or permission of instructor
Analysis of the use of laboratory methods to study economic behavior. Topics include experimental design, laboratory technique, and nonparametric analysis of data. Emphasizes using controlled observations to evaluate alternative economic theories and policies. Applications include bargaining, auctions, oligopoly, asymmetric information, voting, public goods, financial markets, and tests of expected utility and game theories.

ECON 8991 - (Y)
Research Methods in Economics

Prerequisite: Third-year status or permission of instructor
An introduction to the tools and methods of performing research in economics

Economics 8998 - (may vary from 1-12)
NON-TOPICAL RESEARCH, PREPARATION FOR RESEARCH

Prerequisite: Permission of the DGS
Allowed under special circumstances for master's-level research, taken under the supervision of the DGS (before an advisor has been agreed upon)

ECON 8999 - (may vary from 1-12)
NON-TOPICAL RESEARCH, PREPARATION FOR RESEARCH

Prerequisite: Permission of the DGS
Allowed under special circumstances for master's-level research, taken under the supervision of a thesis director.

ECON 9550 - (may vary from 1-12)
SELECTED RESEARCH PROBLEMS IN ECONOMICS I

Prerequisite: Permission of the DGS
Advanced research into specific economic problems under detailed faculty supervision.

ECON 9560 - (may vary from 1-12)
SELECTED RESEARCH PROBLEMS IN ECONOMICS II

Prerequisite: Permission of the DGS
Continuation of Economics 9950.

ECON 9998 - (may vary from 1-12)
NON-TOPICAL RESEARCH, PREPARATION FOR DOCTORAL RESEARCH

Prerequisite: Third-year status or permission of the DGS
For doctoral research, to be taken only after completing the field requirement, and before a dissertation reader has been selected.

ECON 9999 - (may vary from 1-12)
NON-TOPICAL DOCTORAL RESEARCH

Prerequisite: Third-year status and/or permission of the instructor
For doctoral research taken under the supervision of the first reader or a prospective first reader.

Department of Economics

University of Virginia
248 McCormick Rd
Charlottesville, VA 22904-4182
Phone: 434-924-3177
Fax: 434-982-2904