First Year of the Ph.D. Program
The first year of the Ph.D. program is designed to provide a comprehensive
foundation consisting of microeconomic theory, statistical theory, econometric
theory, and mathematical tools of economic analysis. At the end of Spring
Quarter, students take a microeconomic theory qualifying examination.
Students develop relationships with faculty and by the end of the first year
select their advisor. During their first year classes, they begin to identify
potential topics for their research.
The first year begins with a mathematics preparation course, known as Math Camp. This two-week course is conducted by the Department of Economics to prepare students for the quantitative rigor of the first year
program. While attendance is not required, Math Camp serves as a "soft-landing"
into the program.
- ECON 804 Microeconomic Theory I: production and consumption theory. This course
deals with the theory of the consumer and the theory of the producer.
- ECON 805 Microeconomic Theory II: general equilibrium and classical
partial equilibrium. This course focuses on models of competition, monopoly, monopolistic competition, oligopoly,
and general equilibrium.
- ECON 808 Microeconomic Theory III: partial equilibrium welfare theory and
the economics of information. This course explores economic dynamic, the economics of information and uncertainty, and game theory. Other topics include industrial organization, labor, and public finance.
- ECON 700 Applications of Math in Economic Analysis: advanced mathematical analysis of economics problems. This course includes basic set theory and real analysis, optimization subject to inequality constraints, and dynamic optimization.
- ECON 640 Probability Theory: general probability. This course investigates probability, random variables, Markov chains, discrete and continuous distributions, transformations, moment generating function techniques, limit theorems, expectation, and variance.
- ECON 740 Inference & Decision Analysis Under Uncertainty: elementary
analysis. This course includes distribution theory, point and interval estimation, statistical hypothesis testing, and decision analysis under uncertainty.
- ECON 741 General Linear Regression Analysis: multiple regression analysis. This course
focuses on linear, non-linear, and distributed lag models.
- AEDE 801 Applied Econometric Analysis: principles and practice of applied econometrics. This course addresses nonlinear and
maximum-likelihood estimation and hypothesis testing applied to systems of equations and censored models
used in economic analysis.
- AEDE 803 Consumption and Production Analysis: applied consumption and production theory
and methods. This course focuses on demand relationships and demand systems and production problems in agricultural,
environmental, and development economics.
At the end of the first year, PhD students take a microeconomics qualifying
examination. This written examination covers topics from the first-year
microeconomics sequence. Most AED Economics students pass this examination on
the first attempt. Those who do not are allowed a second attempt.
And that's it! Now time for the second year.
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