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.
The Cowles Foundation is supporting a Research Program in Microeconomic Theory
which hosts every year a number of long-term visitors.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 of 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 |
