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Spring 2018
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Economics
Core CoursesECTSCourse Type: core courseE801: Advanced Microeconomics II5 ECTSLecturer(s)
Course Type: core courseCourse Number: E801Credits: 5Prerequisites
E700, E701, E702, E703
Requirements for the assignment of ECTS-Credits and Grades
- Final examination
- Solutions to problem sets
- Participation in exercise sessions
Literature
Mas-Colell, Whinston and Green: Microeconomic Theory. Oxford UP 1995
Course Content
The module consists of two parts. The first part (Honryo) covers the theory of general equilibrium. The goal is to introduce the basic concepts and tools in the field and to facilitate your transition from undergraduate study to your own research. The second part (Penczynski) covers essential topics of behavioral and experimental economics, such as prospect theory, time inconsistency, social preference, bounded rationality, strategic thinking.
Competences acquired
After the first part, students should be familiar with the basic properties of general equilibrium models, and are able to understand research papers written in the field. After the second part, students will be able to describe some of the most important theories and experimental results of the field of behavioral economics and apply these concepts to new situations of economic relevance. They can re-consider canonical models from a behavioral perspective.
Schedule
Lecture 12.02.18 – 19.03.18 Monday 10:15 – 11:45 P043, L7, 3–5 12.02.18 – 19.03.18 Monday 12:00 – 13:30 P043 in L7, 3–5 written exam 09.04.18 Monday 10:15 – 12:15 O48 Castle Ostflügel Retake written exam 28.06.18 – 01.06.18 10:15 – 12:15 TBA Tutorial 14.02.18 – 21.03.18 Wednesday 15:30 – 17:00 P044, L7, 3–5 E802: Advanced Macroeconomics II5 ECTSLecturer(s)
Lukas Henkel
Course Type: core courseCourse Number: E802Credits: 5Prerequisites
E700, E701, E702, E703
Requirements for the assignment of ECTS-Credits and Grades
- Final examination
- Solutions to problem sets
- Participation in exercise sessions
Course Content
This course covers basic methods useful for dynamic economic modeling under rational expectations:
- Linear Rational Expectations (RE) Models: linearizing economic models and solving linear RE models: determinacy, indeterminacy, and 'sunspot' equilibria.
- Linear RE models and Vector Auto-Regressions (VARs): state space representation of economic models, VAR representation of observables, invertibility problems, identification of economic shocks.
- Linear Quadratic (LQ) Dynamic Programming: solving LQ problems: Ricatti equation, invariant subspace methods, stochastic problems and certainty equivalence.
- Introduction to the New Keynesian Model and its Linearized Form.
Competences acquired
After the course students will be able to apply and understand the basic tools used in business cycle analysis and will be able to follow the recent literature on dynamic stochastic general equilibrium models. They also learn how these techniques could be applied in other fields concerned with dynamic decision making.
Schedule
Lecture 14.02.18 – 21.03.18 each Wednesday except for March14 10:15 – 11:45 P043, L7, 3–5 14.02.18 – 21.03.18 each Wednesday except for March14 13:45 – 15:15 P044, L7, 3–5 written exam 11.04.18 Wednesday 10:15 – 12:15 EW151 Castle Ehrenhof West Retake written exam 28.06.18 10:15 – 12:15 TBA Tutorial 13.02.18 – 20.03.18 Tuesday 15:30 – 17:00 209, B6, 30–32 E803: Advanced Econometrics II5 ECTSLecturer(s)
Course Type: core courseCourse Number: E803Credits: 5Prerequisites
E700, E701, E702, E703, E801, E802, E803
Requirements for the assignment of ECTS Credits and Grades
Written Exam (120 minutes) 75%, Assignments that 25%
Course Content
The course provides an introduction to semi- and nonparametric estimation methods in microeconometrics, as well as to bootstrap theory and treatment effect evaluation.
Literature/
recommended textbooks Cameron, A.C. and Trivedi, P.K. (2005), Microeconometrics: Methods and Applications, Cambridge University Press
Wooldridge, J.M. (2010), Econometric Analysis of Cross Section and Panel Data, Cambridge University Press
Hansen, B.E. (2017), Econometrics, Lecture Notes.
Heckman, J. and Vytlacil, E. (2007), Econometric Evaluation of Social Programs, Handbook of Econometrics Vol. 6B, Chs. 70–71.
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 at a high technical and mathematical level.
- 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. - 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.
Schedule
Lecture 13.02.18 – 20.03.18 Tuesday 10:15 – 11:45 309 in B6, 30–32 13.02.18 – 20.03.18 Tuesday 12:00 – 13:30 309 in B6, 30–32 written exam 16.04.18 Monday 17:15 – 19:15 room 001, L9, 1–2 Retake written exam 28.06.18 10:15 – 12:15 TBA Tutorial 16.02.18 – 19.03.18 Friday 10:15 – 11:45 212, B6, 30–32 E804: Advanced Microeconomics III5 ECTSLecturer(s)
Xin Gao
Course Type: core courseCourse Number: E804Credits: 5Prerequisites
E700 – E703
Requirements for the assignment of ECTS-Credits and Grades
Written final exam (120 min)
Course Content
The goal of the module is to offer advanced treatment to econometric theory and to serve as the gate way to further advanced theoretical and applied econometric modules offered in the economics graduate program offered at the Department of Economics in Mannheim. The module offers an revision of undergraduate level econometrics before moving to extensive coverage of large- sample theory and some organizing estimation principles such as GMM and Extremum estimators. Asymptotic properties of these estimators are also the focus of the module as well as the treatment of serial correlation.
Schedule
Lecture 19.04.18 – 31.05.18 Thursday 08:30 – 10:00 002 in L9, 1–2 20.04.18 – 01.06.18 Friday 08:30 – 10:00 003 in L9, 1–2 written exam 07.06.18 Thursday 10:15 – 12:15 Castle Ostflügel O 48 Tutorial 16.04.18 – 28.05.18 Monday 10:15 – 11:45 212 in B6 extra session 28.05.18 – 28.05.18 Monday 08:30 – 10:00 212 in B6, 30–32 E805: Advanced Macroeconomics III5 ECTSLecturer(s)
Course Type: core courseCourse Number: E805Credits: 5Prerequisites
E700, E701, E702, E703, E801, E802, E803
Requirements for the assignment of ECTS Credits and Grades
There will be problem sets and one final exam. The course grade is based on your performance in the problem sets (20%) and the final (80%).
Literature/
recommended textbooks Lars Ljunqvist and Thomas J. Sargent, 2012, Recursive Macroeconomic Theory, MIT Press.
Nancy Stokey and Robert E. Lucas (with Edward C. Prescott), 1989, Recursive Methods in Economic Dynamics, Harvard University Press.
Course Content
This course develops the basic tools of modern macroeconomics and discusses various applications. In particular, this course covers in depth the theory and computational implementation of dynamic programming. The topics of this course are:
· Consumption and savings
· Investment
· Labor markets
Recursive contracts
Competences acquired
Students acquire a deeper understanding of the mathematical methods used in modern macroeconomics. In particular, they learn about the scope and limitation of each mathematical method. The discussion of various applications in class and during TA sessions prepares students for conducting independent research on their Ph.D. (or Master) thesis. Though this course is mainly about macroeconomics, students are also able to apply the mathematical techniques (i.e. dynamic programming) to problems in other fields of economics. The generality of the mathematical/
theoretical framework allows students to connect seemingly unrelated problems and issues. Students not only formulate and solve advanced scientific problems, but also learn how to communicate their results effectively. Schedule
Lecture 17.04.18 – 29.05.18 Tuesday 15:30 – 17:00 003 in L9, 1–2 18.04.18 – 30.05.18 Wednesday 13:45 – 15:15 209 in B6 30.04.18 Monday 13:45 – 15:15 212 in B6, 30–32 written exam 13.06.18 Wednesday 13:45 – 15:45 Castle Ostflügel O48 Tutorial 17.04.18 – 29.05.18 Tuesday 10:15 – 11:45 212 in B6 E806: Advanced Econometrics III5 ECTSLecturer(s)
Course Type: core courseCourse Number: E806Credits: 5Prerequisites
E700, E701, E702, E703, E801, E802, E803
Requirements for the assignment of ECTS Credits and Grades
Written Exam (120 minutes) 75%, Assignments that 25%
Literature/
recommended textbooks Cameron, A.C. and Trivedi, P.K. (2005), Microeconometrics: Methods and Applications, Cambridge University Press
Hamilton, J. D. (1994), Time Series Analysis, Princeton University Press.
Hayashi, F. (2000), Econometrics, Princeton University Press
Wooldridge, J.M. (2010), Econometric Analysis of Cross Section and Panel Data, Cambridge University Press
Course Content
Part I is devoted to basic analysis of panel data (models) and Part II deals with time series analysis. The second part is somewhat more detailed and deals with stationary and nonstationary time series set-ups.
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 at a high technical and mathematical level.
- 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. - 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.
Schedule
Lecture 16.04.18 – 28.05.18 Monday 15:30 – 17:00 002 in L9, 1–2 16.04.18 – 28.05.18 Monday 17:15 – 18:45 002 in L9, 1–2 19.04.18 – 31.05.18 Thursday 10:15 – 11:45 003 in L9, 1–2 09.05.18 – 09.05.18 Wednesday 08:30 – 11:45 L9, 1–2, room 001 23.05.18 – 23.05.18 Wednesday 08:30 – 11:45 L9, 1–2, room 001 written exam 14.06.18 Thursday 10:15 – 12:15 Castle Ostflügel O48 Elective CoursesECTSCourse Type: elective courseE8004: Reading Course in Environmental Economics2.5 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 12.02.18 – 28.05.18 Monday, fortnightly 13:45 – 15:15 410 in L7, 3–5 E8006: Dynamic Contracting (2nd Year)10 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8006Credits: 10Schedule
Lecture 14.02.18 – 30.05.18 Wednesday 08:30 – 10:00 room 410 in L7,3–5 except for March 14 14.02.18 – 30.05.18 Wednesday 10:15 – 11:45 room 410 in L7,3–5 except for March 14 14.03.18 Wednesday 08:30 – 11:45 212 in B6, 30–32 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
Lecture 15.02.18 – 31.05.18 Thursday 15:30 – 17:00 S031 in L7, 3–5 E8013: Search Theory and Labor Markets (2nd Year)10 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8013Credits: 10Prerequisites
Successful completion of the first year sequence.
Requirements for the assignment of ECTS Credits and Grades
Take home exam/
homeworks and student presentations Literature/
recommended textbooks Ljungqvist and Sargent. Recursive Macroeconomic Theory, third edition, 2012
Christopher A Pissarides. Equilibrium unemployment theory. MIT press, 1990
Course Content
Upon successful complete, students will be familiar with the cutting edge search models commonly used in a variety of economic fields ranging from labor economics, monetary econ, finance and family econ amongst many others. Students will be familiar with papers at the research frontier and potential avenues for future research.
Schedule
Lecture 15.02.18 – 31.05.18 Thursday 15:30 – 17:00 409, L9, 1–2 15.02.18 – 31.05.18 Thursday 17:15 – 18:45 409, L9, 1–2 E8014: Quantitative Macroeconomics with Heterogenous Households (2nd Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8014Credits: 5Prerequisites
E700, E701, E702, E703, E801, E802, E803, E805; some familiarity with a programming language of your choosing (e.g. Python, Fortran, Julia, C, MATLAB)
Course Content
This course will discuss how the household heterogeneity affects the economy and how the macroeconomic policy and existing market frictions underlie the level of inequality. To this end it will introduce the standard incomplete-markets model, an arguable workhorse of modern macroeconomics, in which households face uninsurable income risk and use risk-free assets to smooth the marginal utility of their consumption. This will be extended to: (1) models with overlapping generations and a life-cycle component and (2) two-asset models. Then we will review some policy-related applications with emphasis put on distributional consequences: fiscal stimulus payments, capital income taxation, and social security. Next recent empirical findings on consumption responses during the Great Recession will be juxtaposed with predictions of the model. If time permits, we will recast the standard framework in continuous time to achieve greater computational performance than traditional discrete-time methods.
Examination
Problem sets and term project
Schedule
Lecture 14.02.18 – 21.03.18 Wednesday 12:00 – 13:30 410 in L7, 3–5 14.02.18 – 21.03.18 Wednesday 13:45 – 15:15 410 in L7, 3–5 E8015: Learning Theories (3rd Year)9 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8015Credits: 9Prerequisites
core courses
Course Content
The first half of this course will consist of a combination of lectures and tutorials. In the second half, students will conduct their own research, write a thesis and present their results to the audience. In the lecture, we will discuss problems of the Nash equilibrium concept and possible alternatives. The main part of the lecture will be devoted to presenting and comparing popular learning theories. More specifically, we will cover Fictitious play, Reinforcement Learning, Experienced weighted attraction learning, and Imitation. In the tutorials, students will learn to use simple programming tools to simulate the learning theories in the lecture.
Competences acquired
Knowledge of common learning theories. The ability to use said learning theories to predict behavior in repeated games. The ability to simulate and test said learning theories. Students will learn to find their own research topic, conduct some independent research and write an academic essay, as well as presenting own research in an accessible manner to other students.
Schedule
Lecture lecture 08.03.18 – 01.06.18 Thursday 13:45 – 15:15 P044 in L7, 3–5 09.03.18 – 01.06.18 Friday, all Fridays except May 4 13:45 – 15:15 001 in L7, 3–5 04.05.18 – 04.05.18 Friday 13:45 – 15:15 S031, L7, 3–5 E8016: Experimental Design Seminar (3rd Year)7 ECTSLecturer(s)
Holger Rau
Course Type: elective courseCourse Number: E8016Credits: 7Prerequisites
Advanced Mirco Economic knowledge, Advanced Game Theory knowledge
Course Content
The seminar course discusses the application and design of economic experiments. The course will focus on common experimental economic setups and highlight how these settings can be applied to answer your research questions. The course also covers important aspects of experimental economics, such as the replication of experiments, the (potential) need of pre-registering research setups, and the application of experimentrics to analyze lab data.
The core element of the course is the design of economic experiments. We will discuss state of the art experimental economic methods and work horses. In this respect, examples (of recent) papers will be used to demonstrate how these methods are applied in experimental economic papers.
The goal will be the development of a research idea and an experimental setup to answer it. In this regard, we will have group sessions where students present their research setups which will be critically discussed in class. Finally, students write short research paper which presents the experimental setup to analyze this idea.
Textbooks:
· Davis, D. D., & Holt, C. A. (1993). Experimental economics. Princeton university press.
· Friedman, D., & Sunder, S. (1994). Experimental methods: A primer for economists. Cambridge University Press.
· Camerer, C. F. (2011). Behavioral game theory: Experiments in strategic interaction. Princeton University Press.
· Camerer, C. F., Loewenstein, G., & Rabin, M. (Eds.). (2011). Advances in behavioral economics. Princeton University Press.
· Moffatt, P. G. (2015). Experimetrics: Econometrics for experimental economics. Palgrave Macmillan.
· Kagel, J. H., & Roth, A. E. (Eds.). (2016). The Handbook of Experimental Economics, Volume 2: The Handbook of Experimental Economics. Princeton university press.
Papers:
· Fehr, E., & Gächter, S. (2000). Fairness and retaliation: The economics of reciprocity. The Journal of Economic Perspectives, 14(3), 159–181.
· Charness, G., & Kuhn, P. (2011). Lab labor: What can labor economists learn from the lab?. Handbook of labor economics, 4, 229–330.
· Camerer, C. F., Dreber, A., Forsell, E., Ho, T. H., Huber, J., Johannesson, M., ... & Heikensten, E. (2016). Evaluating replicability of laboratory experiments in economics. Science, 351(6280), 1433–1436.
Competences acquired
· Ability to critically assess research papers.
· Interactive participation in class.
Ability to development own research ideas and experimental designs.
Schedule
Lecture 21.02.18 – 24.05.18 Wednesday 10:15 – 11:45 B143 in A5,6 B 21.02.18 – 30.05.18 Wednesday, fortnightly 13:45 – 15:15 Castle EW 167 E820: Experimental Econometrics and RCTs in Development Economics (2nd Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E820Credits: 5Prerequisites
E700-E703, E801-E806.
Very successful mastery of the econometrics courses.
Requirement for the assignment of ECTS-Credits and Grades
Presentations and seminar paper.
Course Content
The seminar (formerly Theoretical Microeconometrics) prepares for own research in theoretical econometrics. This seminar covers recent developments in microeconometrics with a particular focus on identification and estimation strategies that deal with endogeneity issues. Preference will be given to articles in Econometrica, recently published or forthcoming.
Competences acquired
On successful completion of the module, students are expected to attain the following competences:
- Attain advanced knowledge in econometric theory.
- Attain a higher/
advanced level of analytical capability. - 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.
- Ability to communicate precisely in the English specialist language.
- Presentation skills.
- Attain the level of competence that permits independent undertakings in search of new knowledge in microeconometric theory.
Schedule
Lecture 13.02.18 – 29.05.18 Tuesday 12:00 – 13:30 P044 in L7, 3–5 E839: Topics in Macroeconomics (3rd & 4th Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E839Credits: 5Prerequisites
First and second year PhD courses.
Course Content
The seminar discusses recent research projects in the field of macroeconomics on a weekly basis. In addition to Ph.D. students and professors from the University of Mannheim, scholars from other universities and institutions present their work.
Schedule
Lecture 15.02.18 – 31.05.18 Thursday 12:00 – 13:30 P044 in L7, 3–5 E846: PhD Reading Course in Industrial Organization (3rd Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E846Credits: 5Prerequisites
E700-E703, E801-E806.
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.
Requirements for the Assignment of ECTS Credits and Grades
Presentation (100%).
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 20.02.18 – 01.06.18 Wednesday 12:00 – 13:30 211, B6, 30–32 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(at)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
Lecture 12.02.18 – 28.05.18 Monday 17:15 – 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
Lecture 12.02.18 – 28.05.18 Monday 15:30 – 17:00 P043 in L7, 3–5 E889: Topics in International Taxation and Fiscal Competition (2nd Year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E889Credits: 5Prerequisites
E700-E703, E801-E806 or equivalent (please consult with instructors if in doubt)
Requirements for the assignment of ECTS-Credits and Grades
Presentation and referee report.
Course Content
The course is intended to provide insights into current research in the area of public economics, with a focus on environments where countries/
regions are linked by spillovers from tax/ fiscal policies. This includes the following topics: taxation of interregionally mobile production factors, international migration of high skilled labor, cross border shopping, the role of taxation for location decision of firms, tax and fiscal competition, profit shifting and policy coordination to prevent it. The course is split into two halves, roughly but not entirely along the lines of theory and empirics. Competences acquired
Ability to understand current academic research at the frontier; critical evaluation of literature; first steps towards formulating own research questions; improvement of research writing and presentation skills.
Schedule
Lecture 13.02.18 – 29.05.18 Tuesday 08:30 – 10:00 P043 in L7, 3–5 MET: Interdisciplinary Work in the Economic and Social Sciences5 ECTSLecturer(s)
Course Type: elective courseCourse Number: METCredits: 5Prerequisites
Prerequisites:
Having a research project at an advanced stage
Course Content
This course aims at fostering the interdisciplinary spirit of the graduate students at the GESS. Participants will attend and participate at the GESS Research Day and the Science Speed Dating event in order to discover their potential for interdisciplinary and collaborative work. Participation at the GESS Research Day will include presenting an on-going working paper, discuss a presentation from another field of study and write a referee report about it and participate in one discussion panel. The idea of the discussion panels is to bring together students from different centers with matching research interests. Within these panels, the students should talk about their research interests and ideally come up with some joint interdisciplinary research ideas.
During the Science Speed Dating event, course participants will discuss with graduate students from other departments and develop at least one collaborative research proposal. The proposal will be presented in a third meeting around one month after the speed dating.
Assessment:
- Presentation and discussion at GESS Research Day
- Three pages referee report
- Participation in discussion panel during the Research Day
- Three pages individual reflexion of the Research Day
- Ongoing meetings with discussion panel group
- Participation at Science Speed Dating event
- Five pages interdisciplinary research proposal (group of two students)
- Presentation of research proposal
- Only pass/
fail Competences acquired:
- Present own research in front of a general audience
- Discuss work from another field
- Develop and present own interdisciplinary research ideas
Course dates:
- Research Day: March 5th, 2018
- Speed Dating: May 15th, 2018
- Presentation of research proposal: tbd, around mid-June
Schedule
Seminar 05.03.18 09:00 – 17:00 rooms 212, 230, 130 (all in B6, 30–32) 15.05.18 09:00 – 17:00 TBA