Credit: Anna Logue
Fall 2018
-
Economics
Core CoursesECTSCourse Type: core courseE700: Mathematics for Economists6 ECTSLecturer(s)
Course Type: core courseCourse Number: E700Credits: 6Prerequisites
Basic mathematical knowledge
Course Content
The course consists of four chapters:
- Chapter 1: basic mathematical concepts like sets, functions and relations are introduced and discussed. Strict mathematical reasoning is explained and applied.
- Chapter 2: covers the concept of metric and normed spaces and discusses the convergence of sequences in these spaces, the continuity of functions, and the concept of compact sets.
- Chapter 3: deal with vector spaces. matrix algebra, linear transformation, and eigenvalues of matrices.
- Chapter 4: covers a multivariate concept of differentiability and its application in solving unconstraint and constrained optimization problems.
Requirements for the assignment of ECTS Credits and Grades
Exam (120 min)
The exam takes place on October 4, 2018, 08:30–10:30
Competences acquired
The students know basic mathematical concepts of analysis and linear algebra. They can interpret mathematical formulas that are written in the condensed mathematical syntax. The students understand the concept of a proof and can develop rigorous mathematical proofs in a elementary level. They understand abstract mathematical concepts like metric spaces and linear spaces and are able to comprehend argumentation on basis of abstract mathematical concepts. They are able to apply their knowledge; especially they are familiar with the calculation of limits and derivatives, the methods of linear algebra, and they can solve nonlinear optimization problems. The students are able to communicate their mathematical knowledge in English.
Teaching Assistants
Exercise Group 2+3
Exercise Group 4+5
Schedule
Lecture 03.09.18 – 24.09.18 Monday 10:15 – 11:45 A5, 6, C015 04.09.18 – 25.09.18 Tuesday 10:15 – 11:45 A5, 6, C014 05.09.18 – 26.09.18 Wednesday 10:15 – 11:45 A5, 6, C013 06.09.18 – 27.09.18 Thursday 10:15 – 11:45 209 in B6, 30–32 written exam 04.10.18 Thursday 08:30 – 10:30 L7, 3–5, 001 Tutorial Group 2 03.09.18 – 24.09.18 Monday 13:45 – 15:15 B6, 23–25, A303 Group 4 03.09.18 – 24.09.18 Monday 13:45 – 15:15 B6, 23–25, A301 Group 3 03.09.18 – 24.09.18 Monday 15:30 – 17:00 B6, 23–25, A302 Group 5 03.09.18 – 24.09.18 Monday 15:30 – 17:00 B6, 23–25, A301 Group 2 04.09.18 – 25.09.18 Tuesday 13:45 – 15:15 B6, 23–25, A302 Group 4 04.09.18 – 25.09.18 Tuesday 13:45 – 15:15 B6, 23–25, A301 Group 3 04.09.18 – 25.09.18 Tuesday 15:30 – 17:00 B6, 23–25, A302 Group 5 04.09.18 – 25.09.18 Tuesday 15:30 – 17:00 B6, 23–25, A301 Group 2 05.09.18 – 26.09.18 Wednesday 13:45 – 15:15 B6, 23–25, A302 Group 4 05.09.18 – 26.09.18 Wednesday 13:45 – 15:15 B6, 23–25, A303 Group 3 05.09.18 – 26.09.18 Wednesday 15:30 – 17:00 B6, 23–25, A302 Group 5 05.09.18 – 26.09.18 Wednesday 15:30 – 17:00 B6, 23–25, A301 Group 2 06.09.18 – 27.09.18 Thursday 13:45 – 15:15 B6, 23–25, A302 Group 4 06.09.18 – 27.09.18 Thursday 13:45 – 15:15 B6, 23–25, A303 Group 3 06.09.18 – 27.09.18 Thursday 15:30 – 17:00 B6, 23–25, A301 Group 5 06.09.18 – 27.09.18 Thursday 15:30 – 17:00 B6, 23–25, A303 E701: Advanced Microeconomics I8 ECTSLecturer(s)
Course Type: core courseCourse Number: E701Credits: 8Prerequisites
E700
Course Content
The course gives a foundation for studies for microeconomics at the PhD level. The first part is devoted to consumer and producer theory. It is organized as follows:
1. Choice, preference and utility
2. Structural properties of preferences and utility functions
3. Basics of consumer demand
4. Expenditure minimization
5. Classical demand theory
6. Competitive and profit-maximizing firms
7. Consumer and producer surplus
8. Choice under uncertainty
9. Utility for money
The second part covers game theory and is organized as follows:
10. Static games of complete information: Rationalizability and iterated strict dominance
11. Static games of complete information: Nash equilibrium
12. Static games of incomplete information
13. Dynamic games: The extensive form
14. Dynamic games: Equilibrium concepts
Requirements for the assignment of ECTS-Credits and Grades
- Written exam: 120 min (90% weighting)
- Exercises (10% weighting)
Literature
Recommended textbooks:
- Fudenberg, D & Tirole, J. (1991). Game Theory. MIT Press
- Kreps, D. (2012). Microeconomic Foundation 1: Choice and Competitive Markets. Princeton University Press.
- Mas- Colell, A. Whinston, M.D. & Green, J. (1995). Microeconomic Theory. Oxford University Press.
- Osborne M. and Rubinstein, A. (1994): A Course in Game Theory. MIT Press
Competences acquired
Students learn the basic tools for graduate level microeconomic analysis. The concepts learned in the course serve as building blocks for more advanced topics such as the ones studied in Advanced Microeconomics 2 and 3 and also for macroeconomics and empirical studies. Students also learn using rigorous formal proofs for microeconomic questions.
Teaching Assistant
Schedule
Lecture 08.10.18 – 03.12.18 Monday 10:15 – 11:45 L7, 3–5, 001 10.10.18 – 05.12.18 Wednesday 10:15 – 11:45 L7, 3–5, 001 Written Exam 14.12.18 Friday 08:30 – 10:30 L7, 3–5, 001 Retake 28.01.19 Monday 10:15 – 12:15 B6, 30–32, 212 Tutorial 08.10.18 – 03.12.18 Monday 08:30 – 10:00 B6, 30–32, 211 09.10.18 – 04.12.18 Tuesday 08:30 – 10:00 B6, 30–32, 211 E702: Advanced Macroeconomics I8 ECTSLecturer(s)
Course Type: core courseCourse Number: E702Credits: 8Prerequisites
E700
Course Content
This course provides an introduction to the foundations of modern macroeconomic analysis. The main object of this course is structural dynamic models where households' preference, firms' technology, and market structure are explicitly specified. The behaviors of agents in the model economy are derived based on microeconomic foundations. The macroeconomic aggregates are then determined by aggregating individuals' micro-founded decisions. We will consider some applications as well.
Grading and ECTS Credits
- Problem sets (15 %)
- Midterm exam (90 min, 35 %)
- Final exam (120 min, 50 %)
Literature/
Textbooks Stokey, Nancy, and Robert Lucas with Edward Prescott (1989): Recursive Methods in Economic Dynamics. Harvard University Press.
Ljungqvist, Lars, and Thomas J. Sargent. (2012) Recursive macroeconomic theory. MIT press.
Acemoglu, Daron (2009): Introduction to Modern Economic Growth, Princeton University Press.
Competences acquired
At the end of the semester, students are expected to be familiar with the basic methodology such as recursive methods and dynamic programming as well as the basic macroeconomic models.
Contact information
Prof. Minchul Yum, Ph.D. (0621) 181-1853; myummail.uni-mannheim.de; L7, 3–5, P09; Tue 3–5 pm
Teaching Assistant
Schedule
Lecture 08.10.18 – 03.12.18 Monday 15:30 – 17:00 L7, 3–5, S031 09.10.18 – 04.12.18 Tuesday 15:30 – 17:00 L7, 3–5, S031 Written Exam 19.12.18 Wednesday 13:00 – 15:00 L7, 3–5, 001 Retake 22.01.19 Tuesday 10:15 – 12:15 B6, 30–32, 211 Tutorial 10.10.18 – 05.12.18 Wednesday 08:30 – 10:00 B6, 30–32, 209 11.10.18 – 06.12.18 Thursday 08:30 – 10:00 B6, 30–32, 209 E703: Advanced Econometrics I8 ECTSLecturer(s)
Course Type: core courseCourse Number: E703Credits: 8Prerequisites
E700
Course Content
Course Content
The goal of the module is to offer advanced treatment to econometric theory and to serve as the gateway to further advanced theoretical and applied econometric modules offered in the economics graduate program at the Department of Economics in Mannheim.
The course covers the following specific topics: elementary probability theory, asymptotic theory, basic concepts of statistics, linear regression, theory of extremum estimation, maximum likelihood, moment condition models, instrumental variables.
Teaching Method
Lecture (4 SWS), Tutorial (2 SWS)
Requirements for the Assignment of ECTS Credits and Grades
Written exam, 120 min (90%)
Problem sets (10%)
Literature
Bruce Hansen: Econometrics (available online)
Additional readings will be announced in class.
Competences acquired
Students learn the basic tools for graduate level econometric analysis. The concepts learned in the course serve as building blocks for more advanced topics such as the ones studied in Advanced Econometrics 2 and 3. The students attain the level of competence required to carry out empirically and theoretically research-oriented projects independently. Students learn to exchange information, ideas, and solutions with experts of the field on a scientific level as well as with laymen.
Competences acquired
On successful completion of the module, students are expected to attain the following competences:
- Attain advanced theoretical knowledge in econometrics in the specific topics the module covers.
- Be familiar with current theories and recent developments in the specific topics of focus for the module.
- Attain a higher/
advanced level of analytical capability. - Attain knowledge in the probabilistic background of advanced theoretical econometrics.
- Be in a position to take on follow-up advanced theoretical and applied econometrics modules.
- Attain the level of competence that permits independent undertakings in search of new knowledge in the specialist areas the module covers.
- Attain the level of competence required to carry out (theoretical) research-oriented projects independently.
- To be in a position to exchange information, ideas, and solutions with experts of the field on a scientific level as well as with laymen.
- To be able to communicate and to work effectively and efficiently with people and in groups.
- Graduates are able to communicate precisely in the English specialist language.
Teaching Assistant
Alexander Kreiss
Schedule
Lecture Lecture 09.10.18 – 04.12.18 Tuesday 10:15 – 11:45 L7, 3–5, 001 Exercise 1 09.10.18 – 04.12.18 Tue 13:45 – 15:15 L9, 1–2, 003 Exercise 2 09.10.18 – 04.12.18 Tue 17:15 – 18:45 L9, 1–2, 003 Lecture 11.10.18 – 06.12.18 Thursday 10:15 – 11:45 L7, 3–5, 001 Lecture 16.11.18 Friday 10:15 – 11:45 L7, 3–5, 001 Lecture 23.11.18 Friday 10:15 – 11:45 L7, 3–5, 001 Written Exam 10.12.18 Monday 11:00 – 13:00 L7, 3–5, 001 Retake 04.02.19 Monday 10:15 – 12:15 B6, 30–32, 211 E800: CDSE Seminar12 ECTSLecturer(s)
Course Type: core courseCourse Number: E800Credits: 12Prerequisites
2nd and higher year Ph.D. students from the Center for Doctoral Studies in Economics (CDSE)
2nd year students from the Master of Economic Research
Course Content
Method (hours per week): Colloquium (2 h)
Duration of the module: 4 semesters
ECTs awarded after each semester: 3 ECTs
Schedule
Seminar 06.09.18 – 06.12.18 Thursday 13:45 – 15:15 S031 in L7, 3–5 Elective CoursesECTSCourse Type: elective courseE8002: Microeconometric Methods: Duration, Count Data and Censored Regression Analysis (2nd Year)9 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8002Credits: 9Prerequisites
E700, E701, E702, E703, E801, E802, E803
Course Content
The analysis of different non-standard data types has a long history in applied and theoretical Microeconometrics. This course will provide an introduction to the analysis of duration, count, and “censored regression” data focusing in particular on identification, estimation, and implementation related issues. The first part of the course will mainly deal with different duration models, sampling schemes, censoring, unobserved heterogeneity, and treatment analysis in the duration context. The second part of the course will focus on count data and censored regression (e.g., Tobit) models and also extend to topics such as sample selection, truncation, etc.
Literature
Cameron and Trivedi (2005): “Microeconometrics – Methods and Applications”; Chs. 16–20.
Wooldridge (2010): “Econometric Analysis of Cross Section and Panel Data”; Chs. 17–20,22.
Lancaster (1990): “The Econometric Analysis of Transition Data”.
Winkelmann (2008): “The Econometric Analysis of Count Data”.
Various Research Papers (specified in class)
Competences acquired
By the end of the course, students (i) should have a solid understanding of the key concepts of duration, count data, censored regression analysis and of related topics, (ii) should have acquired the mathematical tools, the empirical skills, and the necessary vocabulary to understand and to analyze theoretical and empirical questions in this context, and (iii) should be able to provide scientifically sound solutions and answers to these questions.
Contact Information
Daniel Gutknecht; Phone: (0621) 181 – 1945; email: Daniel.Gutknecht@uni-mannheim.de, Office: L7, 3–5, R. 1.26, Office hours: by appointment
Schedule
Lecture 03.09.18 – 03.12.18 Monday 10:15 – 11:45 P043, L7, 3–5 05.09.18 – 05.12.18 Wednesday 10:15 – 11:45 P043 in L7, 3–5 Written Exam 07.12.18 Friday 15:30 – 17:00 L9, 1–2, 002 E8004: Reading Course in Environmental Economics (3rd + 4th Year)2.5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8004Credits: 2.5Prerequisites
Presentations
Course Content
Students will read, present and discuss papers in environmental economics.
Competences acquired
- Presentation skills
- Participation in scientific discourse
- Absorption of recent research in environmental economics
- Acquisition of a reading routine
Schedule
Lecture 10.09.18 – 03.12.18 Monday, every 14 days 13:45 – 15:15 410 in L7, 3–5 E8010: Econometrics Research Seminar (3rd & 4th Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8010Credits: 5Course Content
This seminar provides a forum for internal and external speakers to discuss their recent research in econometrics. Students working on either econometrics or an empirical project with a substantive econometric component are welcome to present. Please contact the instructor to set up a date.
Schedule
Seminar 06.09.18 – 06.12.18 Thursday 15:30 – 17:00 002 in L9, 1–2 E8012: Macro Reading Group5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8012Credits: 5Prerequisites
Formal: 2nd and higher year Ph.D. students from the Center for Doctoral Studies in Economics (CDSE).
2nd year students from the Master of Economic Research.
Competences acquired
Students are expected to gain knowledge on the frontier of modern quantitative macroeconomic research on growth and business cycles.
Requirements for the assignment of ECTS-Credits and Grades
Presentation 80%, Discussion 10%, Class Participation 10%
Schedule
Lecture 10.09.18 Monday 09:30 – 10:00 001 Hörsaal (L 7, 3–5) 21.09.18 Friday 10:15 – 12:45 002 Seminarraum (L 9, 1–2) 28.09.18 Friday 10:15 – 12:45 P 043 Seminarraum (L 7, 3–5) 12.10.18 Friday 10:15 – 12:45 P 043 Seminarraum (L 7, 3–5) 26.10.18 Friday 10:15 – 12:45 P 043 Seminarraum (L 7, 3–5) 09.11.18 Friday 10:15 – 12:45 P 043 Seminarraum (L 7, 3–5) 16.11.18 Friday 10:15 – 12:15 P 043 Seminarraum (L 7, 3–5) 30.11.18 Friday 10:15 – 12:45 P 043 Seminarraum (L 7, 3–5) E8017: Macroeconomic Shocks and Propagation: Methods and Applications (2nd Year)7.5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8017Credits: 7.5Prerequisites
E700–703, E801–806
Course Content
This course covers both methods and applications in empirical macroeconomics. On the methodological side, we first discuss narrative approaches to identify structural shocks and univariate methods to study their propagation. The second and larger methodological block covers structural vector autoregressive (SVAR) models. The focus will be on various identification strategies (e.g., short-run/long-run restrictions, sign restrictions, external instruments), but we will also cover inference, factor models, nonlinear models. The lectures, and even more so the assignment, introduce a range of applications. Those include the analysis of technology shocks, monetary policy shocks, and fiscal policy shocks.
Grading and assignment of ECTS credits
Assignments, research paper and presentation
Recommended literature
Ramey (Handbook of Macroeconomics, Volume 2A, Chapter 2: Macroeconomic Shocks and Their Propagation)
Kilian and Lütkepohl (Structural Vector Autoregressive Analysis, preliminary: see www-personal.umich.edu/~lkilian/book.html)
Lütkepohl (New Introduction to Multiple Time Series Analysis, 2005)
Competences acquired
The course introduces students to the econometric theory and macroeconomic applications of structural vector autoregressions.
No session on October 11!
Schedule
Lecture 04.09.18 – 16.10.18 Tuesday 15:30 – 17:00 P043 in L7, 3–5 06.09.18 – 18.10.18 Thursday 15:30 – 17:00 P044 in L7, 3–5 all day (time tba) 11.12.18 – 11.12.18 08:00 – 19:00 211 in B6, 30–32 E8018: Consumer Finance and Default – A Macro Perspective (2nd Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8018Credits: 5Prerequisites
All first year PhD courses
Course Content
This class will cover a variety of topics in the consumer finance area. The objective of the course is to help students transition from course work to research and inspire students to develop their own research ideas. Different from traditional micro consumer finance courses, this course will approach the topic from the macro side: Both in terms of topics (i.e. it will focus on aggregate questions) and in terms of methods (the emphasis is on dynamic general equilibrium models). One focus area is the increase in consumer bankruptcies over time. We will analyze various hypotheses that may have caused the dramatic increase in household debt and default. Another focus is on regulatory questions. Should consumer debt markets be regulated? What are the consequences of currently existing bankruptcy laws? The course will give both an overview of the literature to date, but also emphasize open questions and avenues for future research.
Grading and ECTS credits
Class participation (30 %) + referee report (20 %) + presentation and research proposal (50 %)
Competences acquired
Students will acquire knowledge about the research frontier in consumer finance. They will develop a thorough understanding of life-cycle models with borrowing and default. Students will be able to distinguish different theoretical explanations for an economic phenomenon and to evaluate the plausibility of each theory. Students will be able to synthesize a sub-literature on a particular consumer finance topic and develop their own research question within the area. Students will also be able to critique previous research findings by thoroughly analyzing the approach used. Further, students will develop communication, presentation, and writing skills in English.
Contact Information
Prof. Michele Tertilt, PhD. Phone: (0621) 181 – 1902; email: tertilt@uni-mannheim.de, Office: P11–12, Office hours: appointment by email
Schedule
Lecture first session 07.09.18 Fri 10:15 – 11:45 P044, L7, 3–5 11.10.18 Thu 15:30 – 17:00 P044 in L7, 3–5 23.10.18 – 04.12.18 Tuesday 15:30 – 17:00 P043 in L7, 3–5 25.10.18 – 06.12.18 Thursday 15:30 – 17:00 P044 in L7, 3–5 E8019: Market Design: Auctions and Matching Algorithms (2nd Year)9 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8019Credits: 9Prerequisites
E601–603
Course Content
The digital economy led to many new services where supply is matched with demand for various types of goods and services. More and more people and organizations are now in a position to design market rules that are being implemented in software. The design of markets is challenging as it needs to consider strategic behavior of market participants, psychological factors, and computational problems in order to implement the objectives of a designer. The recent years have led to many new insights and principles for the design of markets, which are beyond traditional economic theory. This course introduces the fundamentals of market design, an engineering field concerned with the design of real-world markets.
Syllabus
A. Matching Algorithms
1. Introduction
2. The basic matching model
3. The medical match
4. Assignment markets
5. School choice
6. Course allocation
7. Kidney exchange
B. Auctions
1. Private Value Auctions
2. The Revenue Equivalence Principle
3. Risk-Averse Bidders
4. Budget Constraints
5. Asymmetry
6. Auctions with Interdependent Values
7. Mechanism Design
Grading and ECTS credits
Exam + Assignments
Competences acquired
After participating in the course, the participants understand methods and game-theoretical models of auctions as well as the fundamental problems in the design of matching markets. They are able to assess the properties of different auction formats and matching algorithms, and the results of theoretical and experimental analyses.
Contact information
Thilo Klein: thilo.kleinzew.de
Schedule
Lecture 05.09.18 – 05.12.18 Wednesday 13:45 – 15:15 P044 in L7, 3–5 Written Exam 05.12.18 Wednesday 13:45 – 15:45 tba Tutorial 05.09.18 – 05.12.18 Wednesday 15:30 – 17:00 P044 in L7, 3–5 E8020: Topics in Information Design2 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8020Credits: 2Prerequisites
E700-E703, E801-E806
Course Content
The purpose of this course is to read, present, and discuss current research in information design. Information design studies how the information structure affects the behavior within economic institutions and how it should be optimally chosen to reach desired outcomes. We will mainly focus on applications in particular market environments, such as price discrimination, bilateral trade, or auctions.
Competences acquired
presentation skills; participation in scientific discourse; absorption of recent research in information design; acquisition of a reading routine
Schedule
Lecture 10.09.18 Tue 12:00 – 13:30 B6, 30–32, room 211 19.10.18 Fri 08:30 – 18:45 B6, 30–32, room 211 Lecture 02.11.18 Fri 12:00 – 13:30 B6, 30–32; room 212 23.11.18 Fri 08:30 – 18:45 B6, 30–32; room 212 E8021: Fiscal Policy Towards Exhaustible Resources and Pension System Design2.5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8021Credits: 2.5Course Content
Pension systems face changing demographic, economic and social circumstances. These changes entail significant risks. The aim of the mini-course is to examine how these risks should be shared, either in public Pension systems or in private annuity markets. Drawing on the theory of the second-best, we set out a three tier system, with special emphasis on the relatively new concept of notional defined contribution (NDC). We then survey the underlying theory of survival functions, Stochastic Dominance and competitive equilibrium, the theory of Annuities, effects of increased life expectancy an aggregate saving and the current focus on the increasing gap in life expectancy by income level and the consequent adverse selection effects.
Lecture notes will be distributed.
Lecture 1
Pension Design for Stability and Risk (with emphasis on Notional Defined contribution (NDC)Lecture 2
Survival Functions, Stochastic Dominance and changes in Longevity, Longevity Gap by Income level.Lecture 3
Lifecycle Model, First Best and competitive EquilibriumLecture 4
Annuities, Longevity and Aggregate Saving
Lecture 5
Life insurance and differentiated AnnuitiesLecture 6
Implications of Increasing Longevity Gap on Social Security and on the Annuity MarketLiterature
Alonso-Ortiz, J. (2014) Social Security and Retirement Across the OECD, Journal of Economic Dynamics and Control, 47, 300–316
Auerbach, A. R. Lee (2009|) “Notional Defined Contribution Pension Systems in a Stochastic Cantext: Design and Stability” in J. Brown, J. Liebman and D. Wise Social Security Policy in a changing Environment
Auerbach, A. et-al (2017), “How the Growing Gap in Life Expectancy May Affect Retierment Benefits and Reforms” N.B.E.R, WP 23329
Barr, N. and Diamond (2008) Reforming Pensions: Principles and Policy Choice (Oxford University Press)
Davidoff, T., J. Brown and P. Diamond (2005), “Annuities and Welfare", American Economic Review, 95, 1573-90
Gollier, C. (2008), “Intergenerational Risk-Sharing and Risk Taking of a Pension Fund” Journal of Public Economics, 92, 1463-1495Hosseini, R. (2015), “Adverse Section in the Annuity Market and the Role of Social Security”, Journal of Political Economy, 123, 941–984
Holzman, R. and E. Palmer (?) (2006), Pension Reform: Issues and Prospect for Notional Defined Contribution (NDC) Schemes” (World Bank)
Palmer, E. (2009), “NDC Pensions- Equilibrium Valuation and Resided Risk Sharing through NDC Bonds” (unpublished)
Sheshinski, E. (2008) The Economic Theory of Annities, (Princeton)
Sheshinski, E. and F. Caliendo (2018) “Social Security and the Increasing Longevity Gap” (unpublished)
Yaari, M. (1965) “Uncertain Liftime, Life Insurance and theTheory of the Consumer” Review of Economic Studies 32, 137–150
Schedule
Lecture 25.10.18 Thursday 10:15 – 11:45 L7, 3–5, P 044 29.10.18 Monday 08:30 – 10:00 L9, 1–2, 003 30.10.18 Tuesday 17:15 – 18:45 L7, 3–5, P 044 05.11.18 Monday 12:00 – 13:30 L7, 3–5, P 044 07.11.18 Wednesday 13:45 – 15:15 L7, 3–5, P 043 08.11.18 Thursday 10:15 – 11:45 L7, 3–5, P 044 E823: Advanced Time Series Analysis (2nd Year)9 ECTSLecturer(s)
Course Type: elective courseCourse Number: E823Credits: 9Prerequisites
PhD program in economics: E700-E703 and E801-E806.
Other programs: E700, E703, E803, and E806 or equivalent courses.
Course Content
The lecture will focus on multivariate time series models. After reviewing a few issues on (non)stationary univariate time series models discussed in Advanced Econometrics III, we will first deal with stable VAR models and their use for forecasting, Granger causality and impulse response analysis. To this end, we will also discuss important issues on asymptotic- and bootstrap-based inference. Afterwards, we discuss stable VARMA processes and infinite-order VARs. Finally, we consider integrated multivariate processes, i.e. will we deal with unit root econometrics as well as cointegration, including VEC modelling. The course both addresses asymptotic analyses as well as implementation issues. Accordingly, tutorial sessions are also devoted to coding and empirical problems besides addressing theoretical problems. In the last part of the course, participants introduce or discuss in more details (further) model classes by giving presentations and writing a paper. We may cover e.g. Bayesian VARs, structural VARs, factor-augmented VARs, VARMA models, etc.. This course is complementary to the course Structural Vector Autoregessive Analysis offered by Matthias Meier. While the latter course focus on structural modelling approaches from an applied macro perspective, we take an econometric approach and deal with multivariate I(1) approaches, VECM and VARMA models in more detail.
Grading and assignment of ECTS-credits
Paper (40 %), presentation (30 %), assignments (30 %)
Literature
- Hamilton, J.D. (1994), Time Series Analysis, Princeton University Press
- Hayashi, F. (2000), Econometrics, Princeton University Pres
- Lütkepohl (2017), Structural Vector Autoregressive Analysis, CUP
- Lütkepohl, H. (2005), New Introduction to Multiple Time Series Analysis, Springer
- Lütkepohl, H. and Krätzig, M. (2004), Applied Time Series Econometrics, CUP
- Davidson R. and MacKinnon, J.G. (2004) Econometric Theory and Methods, Oxford University Press
- White, H. (2000), Asymptotic Theory for Econometricians, Academic Press
Competences acquired
The students have acquired the necessary demanding econometric, statistical and mathematical techniques to understand and solve theoretical problems in uni-variate and multiple, time series analysis, i.e. in special fields of Econometrics. They are able to understand methodologically demanding specialist literature and, based on that, can extend their methodological knowledge independently. They are able to sort out relevant literature for problem solving, i.e. they can analyze and synthesise the special literature. The students have acquired basic tools for empirical time series analysis and can understand empirical time series literature. Based on their methodological expertise, they are able to independently extend their knowledge in order to conduct own empirical analyses. The students can formulate research questions, are able to analyze and address them, and and can present, discuss, and defend research results in written and oral form.
Schedule
Lecture 04.09.18 – 04.12.18 Tuesday 13:45 – 15:15 P043 in L7, 3–5 06.09.18 – 06.12.18 Thursday 10:15 – 11:45 002 in L9, 1–2 E841: Theory of Industrial Organization (2nd Year)7.5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E841Credits: 7.5Prerequisites
All first-year PhD courses
Course Content
PhD-level course of the modern theory of industrial organization. Topics include monopoly pricing, static and dynamic oligopoly, collusion, mergers, industry dynamics, vertical relations.
Requirements for the Assignment of ECTS Credits and Grades
Written exam (100 %)
Competences acquired
Acquisition of a deep understanding of the key topics, seminal models, and frontiers of research in theoretical industrial organization.
Schedule
Lecture 04.09.18 – 04.12.18 Tuesday 10:15 – 13:15 P043, in L7, 3–5 E846: PhD Reading Course in Industrial Organization (3rd & 4th Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E846Credits: 5Prerequisites
E700-E703, E801-E806
Requirements for the Assignment of ECTS Credits and Grades
Presentation (100 %).
Course Content
This seminar is aimed at PhD students writing their dissertation in Industrial Organization. It is intended to guide students at all stages of dissertation research. The emphasis be on presentation and discussion of material by students.
Competences acquired
Doctoral Students will know how to
- identify a research question,
- put a research question into context of the relevant literature,
- present their current stage of research to their peers in a seminar environment.
Schedule
Lecture 05.09.18 – 05.12.18 Wednesday 12:00 – 13:30 P043 in L7, 3–5 E854: Topics in Mechanism Design (3rd & 4th Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E854Credits: 5Prerequisites
First-year sequence in the Economics PhD program
Course Content
Students will read, present and discuss current research concerning the optimal design of mechanisms.
Grading and assignment of ECTS-credits
Presentations
Competences acquired
- Presentation skills
- Participation in scientific discourse
- Absorption of recent research in mechanism design
- Acquisition of a reading routine
Schedule
Lecture 06.09.18 – 06.12.18 Thursday 12:00 – 13:30 P043 in L7, 3–5 E859: Institutional Economics and Economic Policy (2nd Year)7.5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E859Credits: 7.5Prerequisites
E700-E703, E801-E806
Course Content
Topics:
- The Role of institutions in economic policymaking/
Ordnungspolitik - Overview of the course
- Game theory: a short introduction
- Mechanism Design
- Basic setup
- The revelation principle in dominant strategies
- The Gibbard Satterthwaite theorem
- Bayesian implementation/
the revelation principle
- Quasilinear environments
- VCG mechanisms
- AGV mechanisms
- Participation constraints
- The Myerson Satterthwaite theorem
- Robust possibility theorems
- Auctions
- Optimal mechanisms
- Robust mechanism design
- Preference aggregation
- Theory
- Experimental evidence
- Information aggregation in committees
- Theory
- Experimental evidence
- Financing public goods: Theory
- Financing public goods: Experimental evidence
- Mechanisms for fiscal stability
- Economic policy and credit markets
- Mechanisms for monetary policy
Requirements for the Assignment of ECTS Credits and Grades
Final Exam
Competences acquired
Students learn about theories of information aggregation in institutions. They learn to apply them to practical problems.
Schedule
Lecture 03.09.18 – 03.12.18 Monday 15:30 – 17:00 L7, 3–5, 410 Written Exam 10.12.18 Monday 10:15 – 11:45 E866: Research Seminar in Economic Policy (3rd & 4th Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E866Credits: 5Prerequisites
E700-E703, E801-E806.
Requirements for the assignment of ECTS-Credits and Grades
Students get the credits for this course if they present at least once during the semester and participate in the discussion of the other seminar presentations.
Further information
Students who would like to participate should contact Hans Peter Grüner before the beginning of the semester.
Tel. 181-1886
Email: gruener@uni-mannheim.de
L7, 3–5, room 2–06
Course Content
Students present and discuss policy related economic research.
Competences acquired
Students learn to apply economic theory and quantitative methods to policy problems.
Schedule
Seminar 03.09.18 – 03.12.18 Monday 17:20 – 18:45 P044 in L7, 3–5 E873: Research Seminar in Public Economics (3rd & 4th Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E873Credits: 5Prerequisites
E700-E703, E801-E806
Course Content
Students get the credits for this course if they give a presentation at least once during the semester and participate in the discussion of the other seminar presentation.
Competences acquired
Develop own research agenda, execution of research projects, presentation of own research results.
Schedule
Seminar 03.09.18 – 03.12.18 Monday 15:30 – 17:00 P043 in L7, 3–5 E877: Behavioural Game Theory (and Experiments) (2nd Year)4 ECTSLecturer(s)
Course Type: elective courseCourse Number: E877Credits: 4Prerequisites
First year courses
Course Content
The course introduces the recent literature on behavioural game theory and learning:
Information Cascades
Quantal- response equilibrium
Level- k theories
Fictious Play
Reinforcement Learning
Experience weighted attraction learning
Imitation
Grading and assignment of ECTS credits
Written exam (90 min)
Literature
Fudenberg, D. and D. Levine (1998) “The Theory of Learning in Games”, Cambridge, Mass.: MIT- PressColin Camerer (2003) “Behavioral Game Theory: Experiments in Strategic Interaction”, Princeton University Press
Competences acquired
Expected competences acquired after completion of the module: Students should be able to read and understand the literature on learning in games. They should acquire several necessary theoretical and experimental tools that can be a starting point for independent Ph.D.
Schedule
Lecture 16.10.18 – 04.12.18 Tuesday 13:45 – 15:15 EO 259 Ehrenhof Ost E878: Advanced PhD Seminar in Experimental Economics (3rd & 4th Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E878Credits: 5Prerequisites
E700- E703, E801- E806
Course Content
In this seminar participants present and discuss their current research as well as ideas for future research. An important goal of the seminar is to provide a forum for students working on projects that use experimental methods or relate to themes in behavioral economics.
Grading and assignment of ECTS credits
Presentation and active participation
Further information
If you are interested in the seminar, please contact Henrik Orzen.
Competences acquired
Designing laboratory or field experiments; Executing research projects; Presenting own research results.
Schedule
Seminar 05.09.18 – 05.12.18 Wednesday 10:15 – 11:45 410 in L7, 3–5 E883: Topics and Projects in Experimental Economics (2nd Year)10 ECTSLecturer(s)
Wladislaw Mill
Course Type: elective courseCourse Number: E883Credits: 10Prerequisites
E700-E703, E801-E806
Course Content
This module intends to introduce PhD students to current topics in Experimental and Behavioral Economics and to familiarize them with recent advances in the field. The course will be delivered via a mix of lectures, joint readings of papers, in-class discussions and project work. The lectures will provide introductions to various topics and give relevant background information. Selected papers from the recent relevant literature will be discussed in depth. For this to work all participants will have to read specific papers in advance of individual meetings. Over the course of the semester each student is expected to lead the in-class discussion of two of the papers. The module will also provide a forum for students to discuss research ideas and preliminary work. In fact, students are expected to develop a research project of their own and present their advances, experimental design or data. This can be done individually or in pairs.
Grading and assignment of ECTS credits
This course employs a pass/
fail policy. Criteria for assessment: Develop own research project (individually or in pairs). Active participation and engagement in the discussion. Competences acquired
Advanced understanding of experimental methods; Acquiring knowledge about currently discussed research questions in the experimental literature; Developing a research agenda.
Schedule
Lecture 04.09.18 – 03.12.18 Tuesday 08:30 – 10:00 002 in L9, 1–2 07.09.18 – 07.12.18 Friday 10:15 – 11:45 P043 in L7, 3–5 E891: International Trade (2nd Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E891Credits: 5Prerequisites
This course is targeted to second-year Ph.D. students in economics. Students are expected to have completed first-year micro and macro theory courses.
Course Content
This course is an introduction to international trade at the Ph.D. level. The first part of the course will have a lecture structure and we will discuss the core models of modern international trade theory. We will study neoclassical trade models, i.e., the Ricardian- and Heckscher-Ohlin models and then move to trade models with imperfect competition. Particular emphasis will be given to models with firm-level heterogeneity. The second part of the course will be organized as a seminar: depending on the number of participants, either students will present papers at the research frontier or there will be a reading group format. Topics covered depend on the students’ interest.
Requirements for the assignment of ECTS-Credits and Grades
Class room participation, problem sets, oral presentation.
Competences acquired
Students will be familiar with the core models and methods used in modern research in international trade. They will know the research frontier in this field and will be able to start independent research projects that may lead to a dissertation in international trade.
Schedule
Lecture 05.09.18 – 05.12.18 Wed 12:00 – 13:30 410 in L7, 3–5