Spring 2016

23942 Microeconomics 1
Required texts
Microeconomic Theory, by A. Mas-Colell, M. Whinston, and J. Green (Oxford University Press,
1995).

References
1. Advanced Microeconomic Theory, 2nd edition, by G. Jehle & P. Reny (Addison-Wesley,
2000).
2. Microeconomic Theory, by A. Mas-Colell, M. Whinston, and J. Green (Oxford University
Press, 1995).
3. Microeconomic Analysis, 3rd edition, by Hal Varian (Norton, 1992).

23938 Macroeconomics 1
Required texts
1. Ljungqvist L., Sargent T. (2012) Recursive Macroeconomic Theory, 3rd Ed., Cambridge:
MIT Press.

Recommended texts
There is no required textbook.

References
1. Romer D. (2011) Advanced Macroeconomics, New York: McGraw Hill.
2. Sargent T. (1987) Dynamic Macroeconomic Theory, Cambridge; Harvard University Press
3. Sargent T. (1987) Macroeconomic Theory, 2nd Ed., Cambridge; Harvard University Press

4. Blanchard O., Fischer S. (1989) Lectures on Macroeconomics, Cambridge; MIT Press

5. Evans G., Honkapohja S. (2001) Learning and Expectations in Macroeconomics; Princeton
Press

23930 Econometrics 1
Required texts
Statistical Inference by Casella G and Berger R.L., Duxbury Press.

23941 Mathematics for Economists

Required texts
1. Simon C. and Blume, L (1994) Mathematics for Economics, New York: W.W. Norton &
Company, Inc.

Recommended texts
1. de la Fuente, A. (2000), Mathematical Methods and Models for Economists, Cambridge
University Press.
2. Bretscher, O. (2009), Linear Algebra with Application, Pearson.
3. Stewart J. (2005), Calculus: Early Transcendentals, Thomson Brooks/Cole.
4. Meyer, C. (2001), Matrix Analysis and Applied Linear Algebra. SIAM.

References
1. Simon C. and Blume, L (1994) Mathematics for Economics, New York: W.W. Norton &
Company, Inc.

Fall 2017
23937 Game Theory
Recommended texts
There is no required textbook.

References
1. Game Theory, by D. Fudenberg and J. Tirole (MIT Press, 1991).
2. Game Theory for Applied Economists, by R. Gibbons (Princeton University Press, 1992).
3. Microeconomic Theory, by A. Mas-Colell, M. Whinston, and J. Green (Oxford University
Press, 1995).
4. Microeconomic Analysis, 3rd edition, by Hal Varian (Norton, 1992).

23939 Macroeconomics 2

Recommended texts
Gali, J., Monetary Policy, Inflation and the Business Cycle, Princeton University Press (2008).
Romer, D., Advanced Macroeconomics, McGraw Hill (2011).

References
Bernanke, B.; Gertler, M. & Gilchrist, S., 1999. "The financial accelerator in a quantitative
business cycle framework," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.),
Handbook of Macroeconomics, edition 1, volume 1, chapter 21, pages 1341-1393 Elsevier.
Delli Gatti, D., Di Guilmi, C., Gaffeo, E., Giulioni, G., Gallegati, M., Palestrini, A., 2005. A new
approach to business fluctuations: Heterogeneous interacting agents, scaling laws and financial
fragility. Journal of Economic Behavior and Organization 56, 489512.
Greenwald, B. C. & Stiglitz, J. E, 1993. "Financial Market Imperfections and Business Cycles,"
The Quarterly Journal
of Economics, MIT Press, vol. 108(1), pages 77-114, February.

Lavoie, M., Introduction to Post-Keynesian Economics, Palgrave Macmillan, 2009

Minsky, H. P., John Maynard Keynes, McGraw Hill, 2008.
Shapiro, C. & Stiglitz, J. E, 1984. "Equilibrium Unemployment as a Worker Discipline Device,"
American Economic Review, American Economic Association, vol. 74(3), pages 433-44, June.

23931 Econometrics 2
Required texts
James Stock and Mark Watson: Introduction to Econometrics, updated third edition, Pearson.

Recommended texts
A required textbook may be selected from the list of references.

References
1. Econometric Analysis of Cross Section and Panel Data by Jeff Wooldridge, MIT Press
2. Econometrics by Fumio Hayashi, Princeton University Press.
3. Econometric Analysis by William Greene, Prentice Hall

23940 Market Design

1.Introduction to Market Design and Matching Models
Alvin E. Roth. The economist as engineer: Game theory, experimentation, and computation as
tools for design economics. Econometrica, 70:1341-1378, 2002.
Bolton, Gary E. Not up to Standard: Stress Testing Markets for Misbehaviour. Handbook for
Market Design. Oxford University Press. 2013.
Klemperer, Paul. Using and Abusing Auction Theory. Handbook for Market Design. Oxford
University Press. 2013.
David Gale and Lloyd S. Shapley. College admissions and the stability of marriage. American
Mathematical Monthly, 69:9-15, 1962.

Alvin E. Roth. Deferred acceptance algorithms: History, theory, practice, and open questions.
International Journal of Game Theory, 36:537-569, 2008.
2. Key Word Auctions and Online Advertising
Varian, Hal. Position Auctions. International Journal of Industrial Organization, 25: 1163-1178,
2007.
Benjamin Edelman, Michael Ostrovsky, and Michael Schwarz. Internet advertising and the
generalized second-price auction: Selling billions of dollars worth of keywords. American
Economic Review, 97:242-0259, 2007.
Athey, Susan and Ellison, Glenn. Position auctions with consumer search. Quarterly Journal of
Economics, 126:1213-1270, 2011.

3. Collusion
McAfee, R. Preston and McMillan, John. Bidding Rings. The American Economic Review,
82:579599, 1992
Graham, Daniel A and Marshall, Robert C. Collusive Bidder Behavior at Single-Object Second
Price and English Auctions. Journal of Political Economy. December, 95, 1217-1239, 1987.
Cramton, Peter and Schwartz, Jesse A. Collusive Bidding in the FCC Spectrum Auctions.
Contributions to Economic Analysis and Policy, 1 (1), 2002.
4.Spectrum Auctions
Bichler, Martin, Goeree, K. Jacob, et al. "Spectrum auction design: simple auctions for complex
sales." Telecommunications Policy 38(7): 613-622.2014.
Goeree, K. Jacob and Lien, Yuanchuan. An equilibrium analysis of the simultaneous ascending
auction. Journal of Economic Theory 153:506-533. 2014.
Goeree, K. Jacob and Lien, Yuanchuan. On the Impossibility of Core-Selecting Auctions,
Theoretical Economics,11(1): 41-25. 2016.
5. Incentive in Organizations
Mas-Colell, M. Whinston, and J. Green, Microeconomic Theory. Chapter 14: The Principal-Agent
Problem, 1995.
Kahn, Charles, and Gur Huberman. Two-sided uncertainty and up-or-out contracts. Journal of
Labor Economics: 423-444.1988.
6.Intrinsic versus Extrinsic Motivations: The Informed Principal Problem (09/05)
Benabou, Roland, and Jean Tirole. Intrinsic and extrinsic motivation. The Review of Economic

Studies, 70(3): 489-520. 2003.

Suvorov, Anton, and Jeroen van de Ven. Discretionary rewards as a feedback mechanism. Games
and Economic Behavior 67(2): 665-681. 2009.
7. Communication and Decision rights in Organizations
Crawford,P. Vincent, and Joel Sobel. Strategic information transmission. Econometrica: Journal of
the Econometric Society: 1431-1451.1982.
Dessein, Wouter. Authority and communication in organizations. The Review of Economic Studies
69(4): 811-838.2002.
Athey, Susan, and John Roberts. Organizational design: Decision rights and incentive contracts.
The American Economic Review 91(2): 200-205. 2001
8. Electricity Markets and Open Accesss
Cramton, Peter. Electricity Market Design: The Good, the Bad and the Ugly. Proceedings of the
Hawaii International Conference on System Sciences. January 2013.
Cramton, Peter and Doyle, Linda. An Open Access Wireless Market. Working paper, University of
Maryland. January 2016.
9. Financial Markets
Budish, Eric, Cramton Peter and Shim, John. The High-Frequency Trading Arms Race: Frequent
Batch Auctions as a Market Design Response. Quarterly Journal of Economics. 130:4, 1547-1621,
November 2015

10. Legal Settlements and Litigation

Samuelson, William. A Game-Theoretic Approach to Legal Settlements. Game Theory and
Business Applications. Springer US. 207-231. 2014.

11. Mechanisms with Endogenous Investment Options

McAfee, R. P and J. McMillan. Auctions with entry. Economics Letters, 23: 343-347. 1987.
Bag, P. K. Optimal auction design and R& D. European Economic Review, 41:1655-1674.1997.

12. Behavioural Agents and Market Design

Baron, James and David Kreps. Employment as an Economic and a Social Relationship. Chapter 8
in Handbook of Org. Econ. 2013.

Spring 2017
23943 Microeconomics 2
Recommended texts
There is no required textbook.

References
1. Advanced Microeconomic Theory, 2nd edition, by G. Jehle & P. Reny (Addison-Wesley,
2000).
2. Microeconomic Theory, by A. Mas-Colell, M. Whinston, and J. Green (Oxford University
Press, 1995).
3. Microeconomic Analysis, 3rd edition, by Hal Varian (Norton, 1992).

23932 Econometrics 3
Recommended texts
There is no required textbook in this course. Students will read selected chapters from books
listed on References. The details will be provided by the instructor.

References

Wooldridge, J. (2002): Econometric Analysis of Cross Section and Panel Data, MIT Press

Horowitz, J. (1998): Semiparametric Methods in Econometrics, Springer

Koenker, R. (2005): Quantile Regression, Cambridge University Press

Bhlmann, P. and S. van de Geer (2011): Statistics for High-Dimensional Data: Methods,
Theory and Applications, Springer

Handbook of Econometrics, Vol. 4 & 5, Elsvier

Li, Q. and J. Racine (2007): Nonparametric Econometrics: Theory and Practice, Princeton

Cameron, C. and P. Trivedi (2005): Microeconometrics: Methods and Applications,

Cambridge