 |
Economic Theory at Yale |
| Microeconomic Theory at Yale is characterized by a large faculty and
comprehensive course offerings across all specializations, foremost among them decision
theory, game theory, and general equilibrium theory. |
| We are fortunate to have the following long-term visitors in our
department in academic year 2007/08: |
Pradeep
Dubey (SUNY Stony Brook)
Itzhak Gilboa
(Tel Aviv University) |
| In addition, the Cowles Foundation
is supporting a research program in microeconomic theory which hosts every year a number
of long-term visitors: |
Johannes Horner
(MEDS, Kellogg School of Management, Northwestern University)
Qingmin Liu
(University of Pennsylvania) |
|
| Overview of Courses |
| Microeconomic Theory I (Econ 500a) and II (Econ 501b) is a two course
core sequence for all students in the Ph.D. program. Material covered includes consumer
and producer theory, choice under uncertainty, general equilibrium theory, game theory,
information economics and mechanism design. The sequence is designed to provide a thorough
overview of microeconomic tools that will be used by Ph.D. students in all fields; it also
prepares students for the comprehensive exams taken at the end of the first year in the
program. |
| Advanced Microeconomics I (Econ 520a) and II (Econ 521b) is a two course
sequence examining in more depth foundational issues in game theory, information
economics, mechanism design and social choice. |
| Mathematical Economics I (Econ 530a) and II (Econ 531b) is a two course
sequence focussed on issues in general equilibrium theory. Typically, these sequences are
taken by Ph.D. students in the second year, including both those who will end up
specializing in microeconomic theory and those who will do applied research using advanced
tools of microeconomic analysis. |
|
| Course Requirements and Descriptions |
| The first year sequence (Econ 500a and 501b) is designed for first year
students in the Economics Ph.D. program. Other students should seek the permission of the
instructor. The first year sequence is a prerequisite for the second year courses (Econ
520a, 521b, 530a, 531b). |
— ECON
500a: Microeconomic Theory I
— ECON 501b:
Microeconomic Theory II
— ECON 520a:
Advanced Microeconomics I
— ECON 521b:
Advanced Microeconomics II
— ECON 530a:
Mathematical Economics I
— ECON 531b:
Mathematical Economics II |
| A central element of the research environment in microeconomic theory are
the: |
— Microeconomic Theory Lunch
(Tuesday, 12:00-1:00 pm)
— Microeconomic Theory Seminar
(Wednesday, 2:30-4:00 pm) |
| both of which are an integral and indispensable part of the intellectual
communication in microeconomic theory. |
|
| Recommended Mathematics Courses for Theory
Graduate Students |
| In microeconomic theory, mathematics and statistics represent important
languages and techniques to express our ideas. We therefore recommend that graduate
students in economic theory at Yale take or audit a stream of mathematics and statistics
classes. If you take one course a term starting in the second year on, then by the end of
the fifth year you will have at least eight important courses to support your ability to
develop, analyze, and solve mathematical models. At Yale, there are a number of courses we
can recommend and a partial list is the following: |
— AMTH 237a: Optimization and Complexity
— AMTH 462a: Graphs and Networks |
— MATH 250a: Vector Analysis
— MATH 260a: Basic Analysis in Function Spaces
— MATH 301a: Introduction to Analysis
— MATH 305b: Real Analysis MATH
— MATH 320a: Measure Theory and Integration MATH
— MATH 325b: Introduction to Functional Analysis |
— STAT 251b: Stochastic Processes
— STAT 330b: Advanced Probability
— STAT 637a: Deterministic and Stochastic Optimization |
|
|