Spring 2022
-
Economics
E801: 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
One final examination of 120 min. A prerequisite for the admission to the examination is the regular participation in class, submission of problem sets, good performance in exercise sessions.
Course Content
The course provides an advanced introduction to the theory of general equilibrium. This is a subject that is technically demanding and typically taught only superficially in more elementary classes. It builds in particular on the introductory microeconomics class E702, but also uses the mathematical tools provided in E700, and builds on themes developed in macroeconomics in E701. It is related to the advanced macroeconomics classes, but develops the conceptual sides of the equilibrium problem in more detail than those classes.
The course treats the following topics:
1. Aggregate Demand, 2. Production Theory, 3. Exchange Economies, 4. Production Economies, 5. Uncertainty and Arrow-Debreu Equilibrium, 6. Basic Asset Pricing.
The course teaches the fundamentals of economic equilibrium theory and thus lays the foundations for almost all aggregate theories in economics, such as macroeconomics, international trade, finance, environmental economics, etc. It is complemented by intensive problem-solving work by the students and exercise sessions.
Teaching Method: Lecture (4 SWS) + Exercise (2 SWS)
Competences acquired
After taking this class, students are supposed to know the core concepts of general economic equilibrium, such as the Law of Demand, contingent markets, Walrasian equilibrium, the core, arbitrage-free allocations, market incompleteness, etc.
They are able to analyze problems involving these concepts independently and apply them to issues arising in various fields of economics, such as international trade, macroeconomics, public finance, and others. Special emphasis is put on the technical competence in applying these concepts.
After taking this class, students should understand the role of the price mechanism in different economic contexts and analyze its functioning for the research questions they are studying. They can distinguish a competitive problem from a game-theoretic or decision-theoretic problem and use the corresponding formal and conceptual tools with confidence and competence.
They can assess the scope of equilibrium arguments and decide whether an equilibrium-theoretic approach to a certain research question is appropriate. They understand the common structure of economic equilibrium models and can use this knowledge to transfer insights from one subfield to another.
Professor: Ernst-Ludwig von Thadden, Phone: (0621) 181 – 1915; email: vthadden@uni-mannheim.de; Office: 3.19, VWL-Building; Office hours: upon appointment.
Teaching Assistant: Yulia Evsyukova
Schedule
Lecture Lecture 14.02.22 – 21.03.22 Monday 10:15 – 11:45 L7, 3–5, P044 Lecture 15.02.22 – 15.02.22 Tuesday 15:30 – 17:00 L7, 3–5, P044 Lecture 16.02.22 – 23.03.22 Wednesday 08:30 – 10:00 L7, 3–5, P044 Exam 28.03.22 Monday 10:15 – 12:15 L9, 1–2, 001 Tutorial Tutorial 17.02.22 – 24.03.22 Thursday 10:15 – 11:45 L7, 3–5, P044 E802: Advanced Macroeconomics II5 ECTSLecturer(s)
Course Type: core courseCourse Number: E802Credits: 5Prerequisites
Prerequisites: E700, E701, E702, E703
Requirements for the assignment of ECTS-Credits and Grades:
Final examination, solutions to problem sets, and participation in exercise sessions.Course Content
Goals and Contents of the module:
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.
Teaching Assistant: Mykola Ryzhenkov
Schedule
Lecture Lecture 16.02.22 – 16.03.22 Wednesday 10:15 – 11:45 L7, 3–5, P044 Lecture 16.02.22 – 16.03.22 Wednesday 13:45 – 15:15 L7, 3–5, P044 Lecture 11.03.22 Friday 12:00 – 15:15 L7, 3–5, S031 Exam 30.03.22 Wednesday 10:15 – 12:15 L9, 1–2, 001 Tutorial Tutorial 14.02.22 – 21.03.22 Monday 12:00 – 13:30 L7, 3–5, P044 E803: Advanced Econometrics II5 ECTSLecturer(s)
Course Type: core courseCourse Number: E803Credits: 5Prerequisites
E700, E701, E702, E703
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.
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.
Prof. Yoshiyasu Rai, PhD, yraimail.uni-mannheim.deLiterature/
recommended textbooks
Bruce E. Hansen (2019), Econometrics, Manuscript, University of Wisconsin.
A. W. van der Vaart (1998), Asymptotic Statistics, Cambridge University PressSchedule
Lecture Lecture 15.02.22 – 22.03.22 Tuesday 10:15 – 13:30 L7, 3–5, P044 Tutorial 18.02.22 – 25.03.22 Friday 10:15 – 11:45 L7, 3–5, P044 Exam 01.04.22 Friday 10:15 – 12:15 L9, 1–2, 001 E804: Advanced Microeconomics III5 ECTSLecturer(s)
Course Type: core courseCourse Number: E804Credits: 5Prerequisites
E700, E701, E702, E703, E801, E802, E803
Requirements for the assignment of ECTS-Credits and Grades: Written Exam
Course Content
The goal is to provide an introduction to the role of private information and its strategic use in various environments including markets, contracts, negotiations, regulation, communication, political processes, and expert advice.
Summary of Contents:
I. Adverse Selection.
II. Signaling.
III. Screening.
IV. Moral Hazard.
V. Mechanism design.Competences acquired
Successful participants’ understanding of the role of private information in strategic environments is at the forefront of current research. They are ready to begin developing their own research questions in this field of study, can synthesize their knowledge with the study of economic problems in other fields, and are able to find solutions to practical problems concerning beneficial regulatory interventions in various contexts of market failure. Crucially, successful participants understand the fundamental tension between private information and achieving social goals. This understanding enlightens their judgment of conflict and cooperation in a wide range of social situations beyond the narrow context of economics.
Schedule
Lecture Lecture 04.04.22 – 30.05.22 Monday 10:15 – 11:45 L7, 3–5, P044 Lecture 05.04.22 – 31.05.22 Tuesday 15:30 – 17:00 L7, 3–5, P044 Exam 13.06.22 Monday 10:15 – 12:15 SN169 Tutorial Tutorial 07.04.22 – 02.06.22 Thursday 13:45 – 15:15 L7, 3–5, P044 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 exam (80%).
Course Content
The focus of this course is on heterogeneity in macroeconomics. In doing so, this course introduces basic tools of modern macroeconomics and discusses various applications.
The topics of this course are:
Consumption/
savings: complete markets, incomplete markets, aggregate uncertainty
Investment: neoclassical theory, adjustment costs, financial frictions, misallocation
Labor markets: partial equilibrium search, general equilibrium search and matching with random and directed searchTeaching Method: Lecture (2 SWS) and Exercise (1 SWS)
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. Teaching Assistant: Hannes Twieling
Schedule
Lecture Lecture 04.04.22 – 30.05.22 Monday 08:30 – 10:00 L7, 3–5, P044 Lecture 04.04.22 – 30.05.22 Monday 15:30 – 17:00 L7, 3–5, P044 Exam 08.06.22 Wednesday 10:15 – 12:15 O151 Tutorial Tutorial 05.04.22 – 31.05.22 Tuesday 13:45 – 15:15 L7, 3–5, 001 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 and assignments
Course Content
In Part I we first reconsider extremum estimators, with a focus on M-estimation, then discuss the three main testing principles (LR, LM, WALD) and, finally, introduce the bootstrap in relation to testing. While Part II is devoted to basic analysis of panel data (models), Part III deals with time series analysis. The latter part is somewhat more detailed but still just focusses on stationary time series set-ups.
Competences acquired
Mathematical argumentation, Ability to read scientific texts
Literature:
- Cameron, A.C. and Trivedi, P.K. (2005), Microeconometrics: Methods and Applications, Cambridge: Cambridge University Press.
- Hamilton, J.D. (1994), Time Series Analysis, Princeton: Princeton University Press.
- Hayashi, F. (2000), Econometrics, Princeton: Princeton University Press.
- Horowitz, J. L. (2001), The Bootstrap, in J. J. Heckmann & E. bE. Leamer (eds), Handbook of Econometrics, Vol. 5, North-Holland, Amsterdam.
- Lütkepohl, H. and Krätzig, M. (2004), Applied Time Series Econometrics, Cambridge: Cambridge University Press.
- Wooldridge, J.M. (2010), Econometric Analysis of Cross Section and Panel Data, Cambridge: The MIT Press.
Schedule
Lecture Lecture 06.04.22 – 01.06.22 Wednesday 08:30 – 11:45 L7, 3–5, P044 Exam 15.06.22 Wednesday 10:15 – 12:15 O 142 Tutorial Tutorial 07.04.22 – 02.06.22 Thursday 10:15 – 11:45 L7, 3–5, P044 E800: CDSE Seminar (2nd & 3rd year)12 ECTSLecturer(s)
Course Type: elective 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 Seminar 15.02.22 – 31.05.22 Tuesday 15:30 – 17:00 L7, 3–5, S031 E8004: Reading Course 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
Seminar Seminar 14.02.22 – 30.05.22 Monday, every two weeks 13:45 – 15:15 L7, 3–5, P043 E8008: Doctoral Colloquium (3rd & 4th year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8008Credits: 5Schedule
Colloquium Colloquium 17.02.22 – 02.06.22 Thursday 13:45 – 15:15 L9, 1–2, 002 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 Seminar 17.02.22 – 02.06.22 Thursday 15:30 – 17:00 L7, 3–5, P044 E8013: Search Theory and Labor Markets (2nd year)6 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8013Credits: 6Prerequisites
Successful completion of the first year sequence.
Requirements for the assignment of ECTS Credits and Grades: Take home exam/
homeworks and student presentations Course Content
We will cover search theoretic models and their applications to labor markets. In addition to learning several generations of search models, we will also discuss related empirical labor market papers.
The class will consist of lectures where search theoretic models are presented and discussed. These will comprise amongst others:
- The McCall search model
- The Diamond-Mortensen-Pissarides model
- Random and directed search models
- Block-recursive equilibria
- Stock-Flow matching
- Search models with two sided heterogeneity with sorting.
In addition to providing the theoretical foundations, we will also study a number of applications of these models to mostly labor market questions. These include sources of wage inequality, earnings losses of displaced workers, minimum wage laws, optimal unemployment insurance amongst others.
Through student presentations, we will get to know recent published and working papers related to labor markets and search theory. The selection of the papers will be mostly related to labor markets, but can be tailored towards the interests of the students.
Competences acquired
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
Literature/
recommended textbooks - Ljungqvist and Sargent. Recursive Macroeconomic Theory, third edition, 2012
- Christopher A Pissarides. Equilibrium unemployment theory. MIT press, 1990
Schedule
Seminar Seminar 17.02.22 – 02.06.22 Thursday 15:30 – 17:00 L7, 3–5, P043 Seminar 07.04.22 – 02.06.22 Thursday 17:15 – 18:45 L7, 3–5, P043 E8014: Quantitative Macroeconomics with Heterogeneous Households (2nd year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8014Credits: 5Prerequisites
E700, E701, E702, E703; some familiarity with a programming language of your choosing (e.g. Python, Fortran, Julia, C, MATLAB)
Grading and ECTS credits: problem sets and presentations
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. Next, we will recast the standard framework in continuous time to achieve greater computational performance than traditional discrete-time methods.
Course roadmap:
1. Optimal stochastic growth model and income fluctuations problem.
2. Solving DP problems with exogenous and endogenous labor supply using value function iteration.
3. Root-finding procedures (covered only bisection but can cover Newton methods as well).
4. Policy function iteration.
5. (One-dimensional) approximation: (a) piecewise linear approximation; (b) Chebychev polynomials.
6.Different types of grids: (a) equispaced; (b) exponential grid; (c) power-space grid.
7. Endogenous gridpoints method (EGM) (Carroll, EL 2005).
8. Discretization of income process: (a) Tauchen (EL, 1986); (b) Rouwenhorst (Cooley, 1995); (c) Random walk in finite horizon.
9. Simulations: how to generate random numbers from an arbitrary distribution.
10. Standard incomplete markets model. Saving motives. Computing invariant distribution.
11. Lifecycle incomplete market economy with OLG structure. Different earnings dynamics: (a) Guerrieri-Lorenzoni (QJE, 2017); (b) Castañeda et al. (JPE, 2003).
12. Two-asset SIM model with discrete adjustment (Kaplan and Violante, Ecta 2014). EGM for the two-asset problem. Multidimensional piecewise linear approximation.
13. Heterogeneous Agent Economies in Continuous Time (Achdou et al., 2017).Competences acquired
The students gain knowledge and understanding how to use numerical methods to solve dynamic programing problems.
Contact Information: Krzysztof Pytka; email: pytka@uni-mannheim.de; phone: (0621) 181-181-7; Office: L7 3-5, room 2.09, Office hours: by appointment.
Schedule
Lecture Lecture 16.02.22 – 31.03.22 Wednesday 12:00 – 15:15 L7, 3–5, P043 E8022: Industrial Organization Empirics (2nd year)7 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8022Credits: 7Prerequisites
E700, E701, E702, E703
Requirements for the assignment of ECTS-Credits and Grades
Assignments: 4 (75%)
Presentation (20%)
Class participation (5%)Course Content
The course examines the organization of firms, industries and markets. Industrial Organization studies the strategic interactions of firms in markets, and their implications for firms’ profits and consumer welfare. Market power and market structure are key concepts in IO. Market power (or monopoly power) is the ability of a firm, or group of firms, to gain extraordinary profits above those needed to remunerate the inputs. Market structure is a description of the number of firms in the market and of their respective market shares. The course has the goal to develop an active understanding of econometric analysis of market power and competition. Such goal is illustrated with applications to competition policy and competitive strategy. We will study empirically the determinants of firms’ and consumers’ behavior and market outcomes in the context of problems of price competition, investment, innovation, product design, mergers, or market entry-exit. Topics will cover: econometric issues and methods in the estimation of production functions, demand estimation, static models of Cournot and Bertrand competition, empirical models of entry and some general ideas of dynamic structural models.
Competences acquired
Upon completion of this course, students will be able to develop and actively understand econometric analysis of market power and competition. They will be able to combine data, economic models, and appropriate econometric techniques to answer empirical questions in Industrial Organization.
Schedule
Lecture Lecture 14.02.22 – 30.05.22 Monday 15:30 – 17:00 L7, 3–5, P043 Tutorial Tutorial 18.02.22 – 03.06.22 Friday 13:45 – 15:15 L7, 3–5, P044 E8032: Inequality and Economic Policy (2nd year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8032Credits: 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.Requirements for the assignment of ECTS Credits and Grades
• Presentation 80%
• Discussion 20%Course Content
The course will discuss current research that analyzes the effect of economic policy on growth and inequality using the tools of modern macroeconomics.
Competences acquired
Students will gain a deeper understanding of the effect of economic policy on growth and inequality.
Schedule
Seminar Seminar 17.02.22 Thursday 13:45 – 15:15 online Seminar 24.02.22 – 02.06.22 Thursday 13:45 – 15:15 L7, 3–5, P043 E8036: Research Seminar in Applied Economics (3rd & 4th year)2.5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8036Credits: 2.5Course Content
The seminar will adapt to the interests of the participants as it is meant to help them start on their path to their own research. Participants will be asked to present their ideas and projects, which could be in a very preliminary state, as well as papers that relate to their ideas and projects. We will try and identify open research questions and empirical strategies that can answer these questions.
Schedule
Seminar Seminar 16.02.22 – 01.06.22 Wednesday, every two weeks 13:45 – 15:15 L9, 1–2, 002 E8038: Public Economics II (2nd year)7.5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8038Credits: 7.5Prerequisites
E700, E701, E702, E703, E801, E802, E803, E805, E806 or equivalent, Public Economics I highly recommended
Requirements for the assignment of ECTS-Credits and Grades: Presentation of short research proposal and referee reportCourse Content
The course is intended to provide insights into current research in the area of public economics, covering fiscal competition and mobility of tax bases, firm taxation, property taxation, tax evasion, place-based policies. Compared to Public Economics I (taught in the fall semester), the course is more empirically oriented but also covers the standard theoretical models for the respective topics
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.
Responsible teachers of the module: Professor Eckhard Janeba, Professor Sebastian Siegloch
Schedule
Lecture Lecture 15.02.22 – 31.05.22 Tuesday 13:45 – 15:15 L7, 3–5, P043 Lecture 24.02.22 – 24.02.22 Thursday 12:00 – 13:30 L7, 3–5, P043 Lecture 10.03.22 – 10.03.22 Thursday 12:00 – 13:30 L7, 3–5, P043 Lecture 24.03.22 – 24.03.22 Thursday 12:00 – 13:30 L7, 3–5, P043 Lecture 07.04.22 – 07.04.22 Thursday 12:00 – 13:30 L7, 3–5, P043 Lecture 28.04.22 – 28.04.22 Thursday 12:00 – 13:30 L7, 3–5, P043 Lecture 02.06.22 – 02.06.22 Thursday 12:00 – 13:30 L7, 3–5, P043 E8041: Environmental Economics Research Seminar (3rd & 4th year)2.5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8041Credits: 2.5Course Content
In this seminar, internal and external speakers discuss their recent research in environmental economics. Students working on an empirical or theoretical project that is related to environmental economics are welcome to present. Please contact the instructor to set up a date.
Schedule
Seminar Seminar 15.02.22 – 31.05.22 Tuesday, every two weeks 13:45 – 15:15 L9, 1–2, 002 E8048: Environmental Cost Benefit Analysis (2nd year)2.5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8048Credits: 2.5Prerequisites
Prerequisites: E700-E703. Recommended: E8038 (can be taken simultaneously)
Requirements for the assignment of ECTS-Credits and grades:
10-page research proposal: 60%
30-minute presentation: 30%
Class participation: 10%
Course Content
The objective of this course is to introduce the main concepts and empirical tools used in environmental cost benefit analysis. The course will cover a range of current topics in environmental, energy, and climate policy. The basic structure of the course will involve presentation and discussion of papers that should be read in advance. Selected topics:
- Revealed preferences
- Hedonic pricing
- Housing market valuation of amenities
- Equilibrium sorting models
- Wage hedonics: Valuation of statistical life
- Climate Change
- Measuring effects of climate change
- Agriculture
- Mortality
- Climate policies in the building sector
- Subsidies
- Building regulations (command and control)
Competences acquired
Thorough understanding of the key topics, ability to critically evaluate empirical research in environmental economics that employs both structural and reduced-form econometric methods. Ability to apply state-of-art research methods. Presentation skills.
Schedule
Lecture Lecture 17.02.22 – 02.06.22 Thursday, every two weeks 10:15 – 11:45 L7, 3–5, P043 E8049: Research Seminar in International Economics (3rd & 4th year)5 ECTSCourse Type: elective courseCourse Number: E8049Credits: 5Prerequisites
Prerequisites:
Core PhD courses, PhD International Trade
Grading and ECTS credits:
Grades are based on active participation, presentation of research project: participation in class (50%), presentations (50%).
Course Content
This is a research seminar for 3rd and 4th year students who are writing their thesis in the field of international economics. Students present their own research projects and we discuss relevant papers in international economics.
Competences acquired
The aim of the course is to follow and guide students during the thesis writing process. The acquired competences will be to develop and structure research projects in international economics, to improve academic writing and presentation skills.
Schedule
Seminar Seminar 16.02.22 – 01.06.22 Wednesday 10:15 – 11:45 L7, 3–5, P043 E8050: Reading Group in Microeconometrics (2nd year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8050Credits: 5Prerequisites
This group is aimed at students interested in modern microeconometric theory and its applications in empirical economic research.
Course Content
Students will read, present, and discuss current research papers.
Schedule
Seminar Seminar 15.02.22 – 31.05.22 Tuesday 12:00 – 13:30 L7, 3–5, P043 E8051: Ambiguity: Theory and Experiments (2nd year)7 ECTSLecturer(s)
Course Type: elective courseCourse Number: E8051Credits: 7Prerequisites
PREREQUISITES:
Advanced Microeconomics courses on PhD level
Requirements for the assignment of ECTS-Credits and Grades: Discussion paper, 5 – 10 pages.
Course Content
Ellsberg (1961) showed that the preferences of most decision makers cannot be fully described by a subjective expected utility (SEU) preference relation. This course will give an overview over theoretical solutions to this problem and experiments which test said solutions.
Syllabus:
- SEU – a reminder
- Ellsberg’s experiments
- MEU
- CEU
- Smooth Ambiguity model
- Experimental design issues
- Experiments on ambiguity
The course will contain lectures on the above topics, as well as accompanying reading group, where we will discuss select papers.
FURTHER INFORMATION:
Ambiguity (Eichberger & Kelsey, 2007) – The Oxford Handbook of Rational and Social Choice
Ambiguity and Ambiguity Aversion (Machina & Siniscalchi, 2013) – Handbook of the Economics of Risk and Uncertainty
Ambiguity and the Bayesian Paradigm (Gilboa & Marinacci, 2015) – Readings in Formal Epistemology
Competences acquired
- The ability to understand and use non-SEU preference relations in models
- The ability to test non-SEU preference relations experimentally
- The ability to conceptualize preference relations axiomatically
- The ability to write a discussion paper on a current research topic
Schedule
Lecture Lecture and Exercise/ Reading Group 16.02.22 – 01.06.22 Wednesday 13:45 – 16:00 B6, 30–32, room 211 E839: Topics in Macroeconomics (3rd & 4th year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E839Credits: 5Prerequisites
Prerequisites: First and second year PhD courses.
Requirements for the assignment: Presenting of Research Projects
Course Content
Research seminar where Ph.D. students, who have completed their course work, present their own research and receive feedback. Occasionally we will also have an outside speaker.
Schedule
Seminar Seminar 17.02.22 – 17.02.22 Thursday 12:00 – 13:30 online Seminar 24.02.22 – 02.06.22 Thursday 12:00 – 13:30 L9, 1–2, 003 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
Seminar Seminar 16.02.22 – 01.06.22 Wednesday 12:00 – 13:30 L9, 1–2, 002 E866: Research Seminar in Economic Policy (3rd & 4th year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E866Credits: 5Prerequisites
E700-E703, E801-E806
Grading: At least one presentation. Students who wish to obtain ECTS credits should sign up for the course, students who do not wish to obtain credits should not sign up for the course.
Course Content
Students present and discuss policy related economic research.
Competences acquired
Students learn to apply economic theory and quantitative methods to policy problems.
Further information: Students who would like to participate should contact Hans Grüner before the beginning of the semester
Contact Information: Prof. Dr. Grüner, Phone: (0621) 181-1886, email: gruener@uni-mannheim.de, Office: L7, 3–5, room 2–06
Schedule
Seminar Seminar 14.02.22 – 30.05.22 Monday 17:15 – 18:45 L7, 3–5, P043 E873: Research Seminar in Public Economics (3rd & 4th year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E873Credits: 5Prerequisites
Prerequisites
E700-E703, E801-E806
Course Content
Goals and Contents of the module:
Presentation and discussion of current research in public economics (external and internal speakers)Requirements for the assignment of ECTS-Credits and Grades: Oral presentation of own reserach, contribution to discussion of other perticipants' reserach; only pass/
fail. Competences acquired
Improve presentations skills, obtain feedback to improve research paper.
Schedule
Seminar Seminar 15.02.22 – 31.05.22 Tuesday, every two weeks 12:00 – 13:30 L9, 1–2, 009 E878: Advanced PhD Seminar in Experimental Economics (3rd & 4th year)5 ECTSLecturer(s)
Course Type: elective courseCourse Number: E878Credits: 5Prerequisites
E700- E703, E801- E806
Grading and assignment of ECTS credits:
Presentation and active participation
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.
Further information
If you are interested in the seminar, please contact Henrik Orzen.
Schedule
Seminar Seminar 15.02.22 – 31.05.22 Tuesday 13:45 – 15:15 L7, 3–5, 410 RES (Bridge Course): New Perspectives on Economics and Politics5 ECTSLecturer(s)
Course Type: elective courseCourse Number: RES (Bridge Course)Credits: 5Course Content
We live in interesting times both, economically and politically. Many observers point to crises and uncertain developments in the economic and political world. Making sense of the nature of these challenges and pointing toward economic and political solutions for the future requires new perspectives. This is a course about the big and bold questions in economics and politics. How can or should economics and politics be organized to best serve society? What does it mean to put humans as they really are at the center of economic and political thinking? What role do morals and values, or dignity and respect, play for the way economics and politics work?
We will try to come to grips with these questions by reading and discussing six key books on various new perspectives at the intersection between economics and politics. The aim of this course is to go as deep as we can and to get as much out of an in-class discussion of the material as possible. Willingness to acquire and read the books is a must. If you are unsure about whether or not you would want to take on the commitment of reading six books in one semester then this course is probably not the right one for you.
Students need to be willing to read books, form their own opinions on them, and elaborate on and defend their own views in group discussions and a final essay.
Learning outcomes: The aim of this course is to engage in intellectual dialogue, to develop a personal point of view on some of the central economic and political questions we face today, and to allow ourselves to think creatively, freely, and out of the box. After completing this course, students will have read important texts on new perspectives in economics and politics, they will have trained their ability to distill an own point of view from the writings of leading scientists, they will train their writing and discussion skills, and they will train to creatively apply what they have read in writing about the future of economics and politics in our society.
For each session, students need to have read the respective book in advance. (Detailed schedule will be provided in an introductory session.)
- Fukuyama, F. (2018). Identity: The demand for dignity and the politics of resentment. Farrar, Straus and Giroux.
- Sandel, M. J. (2020). The tyranny of merit: What’s become of the common good?. Penguin UK.
- Goodhart, D. (2017). The road to somewhere: The populist revolt and the future of politics. Oxford University Press.
- Rajan, R. (2019). The third pillar: How markets and the state leave the community behind. Penguin.
- Haidt, J. (2012). The righteous mind: Why good people are divided by politics and religion. Vintage.
- Bowles, S. (2016). The moral economy. Yale University Press
Form of assessment: Essay 50 %, Class Participation 50 %
Schedule
Lecture Introductory Session 18.02.22 Friday 10:00 – 13:30 L 9, 1–2, room 409 29.04.22 – 10.06.22 Friday 10:00 – 13:30 B6, 30–32 room 212/ 213 ZEW: (Experimental) Household Finance5 ECTSLecturer(s)
Course Type: elective courseCourse Number: ZEWCredits: 5Prerequisites
Prerequisites: All first year CDSE or equivalent courses.
Course Content
The course gives an introduction to the field of household finance, which covers the use and management of financial instruments by individuals. Financial decisions are among the most important, but also the most complex problems private households face. The course will allow students to understand the main concepts, challenges, and tools of households’ financial management and enable them to critically assess the quality of financial products and services in the market. Topics include both savings behavior (including investment decisions and retirement planning) as well as credit decisions of consumers, highlighting several influencing variables such as experience, abilities and financial literacy, cultural background, and other personal characteristics. We will examine how households approach these important decisions, what mistakes they make and which solutions have been discovered and tested so far. Finally, the interaction of the consumer with his peers and financial intermediaries such as advisors will be discussed.
Methodologically, the course will discuss design considerations and various applications of (information provision) experiments in finance.
Competences acquired
The course aims are at giving students an overview of the research field of household finance both with regards to current research topics and methodology used. After the course, students should be able to compare traditional and behavioral models in terms of their assumptions about human (financial) decision making. Further, students will learn how to develop a research question, and an experimental design to answer the question.
Grading and assignment of ECTS-credits:
Research proposal (seminar paper) (70%) and presentation (30%)
Further information (literature and recommended textbooks):Barberis, Nicholas, and Richard Thaler (2003): “A survey of behavioral finance”, in Handbook of the Economics of Finance, Chapter 18, pp. 1053-1128
Campbell, J. Y. (2006). Household Finance. The Journal of Finance, 61(4), 1553-1604.
Beshears, J., J.J. Choi, Laibson, D., Madrian, B., (2018). Behavioral Household Finance, Handbook of Behavioral Economics
Gomez, F., M. Haliassos, T. Ramodarai, (2020). Household Finance, Journal of Economic Literature
(1) Bergman, A., S. Hartzmark, A. Chinco, A.B. Sussman (2020), Survey Curious? Start-Up Guide and Best Practices For Running Surveys and Experiments Online, Working Paper.
(2) Haaland, I., Roth, C., Wohlfart, J. (2021): Designing Information Provision Experiments, Journal of Economic Literature forthcoming.
Watch Daniel Kahneman (recipient of the Nobel Memorial Prize in Economic Sciences) on “Why We Make Bad Decisions About Money (And What We Can Do About It)”:
https://www.youtube.com/watch?v=Kpev-Lb0EAg
Course dates: 25.-28.07.2022
Course registration: Registration is now open, please use the registration form.
Final registration deadline is May 31, 2022.
Course details will be provided in due course after the registration deadline.
www.zew.de/karriere/promovierende/zew-summer-courses-2022-in-cooperation-with-the-cdse
ZEW: Applied Theory for Empiricists5 ECTSLecturer(s)
Course Type: elective courseCourse Number: ZEWCredits: 5Prerequisites
Prerequisites: All first year CDSE or equivalent courses.
Course Content
This course will cover simple microeconomic models that can be used to obtain testable predictions, derive sufficient statistics, motivate empirical specifications, and explain empirical findings. We will cover a number of recent papers in industrial organization and international trade that have relied on combining applied-theoretical modelling with (mostly) reduced-form empirical evidence. A reading list will be communicated at a later stage.This course will cover simple microeconomic models that can be used to obtain testable predictions, derive sufficient statistics, motivate empirical specifications, and explain empirical findings. We will cover a number of recent papers in industrial organization and international trade that have relied on combining applied-theoretical modelling with (mostly) reduced-form empirical evidence. A reading list will be communicated at a later stage.
Competences acquired
Grading and assignment of ECTS-credits:
Paper presentation (50%), referee report (50%)
Further information (literature and recommended textbooks):
Slides used in the summer 2021 can be found here. Adjustments will be made to the course’s content in the spring 2022.Course dates:
Lectures: August 23–26, 2022 (around five hours per day)
Students’ presentations: September 9, 2022Course registration: Registration is now open, please use the registration form.
Final registration deadline is May 31, 2022.
Course details will be provided in due course after the registration deadline.
www.zew.de/karriere/promovierende/zew-summer-courses-2022-in-cooperation-with-the-cdse
ZEW: Causal Machine Learning5 ECTSLecturer(s)
Course Type: elective courseCourse Number: ZEWCredits: 5Prerequisites
Prerequisites: All first year CDSE or equivalent courses. Standard graduate econometrics.
Course Content
The course has three parts. In the first part, we discuss the use of machine and statistical learning methods for predicting outcomes. In the second part, we focus on the most popular causal research designs used in econometrics, like selection-on-observables, IV, regression-discontinuity and difference-in-difference. The third part concerns causal machine learning, i.e. how to combine the prediction methods of the machine learning literature with the causal research designs to obtain reliable causal inference in empirical studies.
Competences acquired
Students will obtain a basic knowledge of several popular machine/
statistical learning methods, of the most important research designs, and how to combine both to obtain reliable and robust causal inference. They will be able to use these methods to conduct own empirical studies with causal machine learning methods. Grading and assignment of ECTS-credits:
Class participation (30%), Group project presentations (via Skype, about 2 weeks after the course)
Further information (literature and recommended textbooks):
Literature will be announced prior to the course.
Course dates: 16.-19.08.2022, 21h course
Course registration: Registration is now open, please use the registration form.
Final registration deadline is May 31, 2022.
Course details will be provided in due course after the registration deadline.
www.zew.de/karriere/promovierende/zew-summer-courses-2022-in-cooperation-with-the-cdse
ZEW: Difference in Differences5 ECTSLecturer(s)
Course Type: elective courseCourse Number: ZEWCredits: 5Prerequisites
Prerequisites: All first year CDSE or equivalent courses.
Course Content
Course Description: When researchers are not be able to field randomized experiments to study the causal effects of large social programs due to their size, associated costs, feasibility and ethical constraints, they often rely on natural experiments such as law changes or natural disasters. The most popular research designs for estimating the causal effects using such natural experiments are the difference-in-differences design and synthetic control estimation. Both difference-in-differences and synthetic control have evolved considerably over the last several years, both in terms of econometric theory and software implementation. We will spend three days going through some of this new material reviewing both the intuition behind the statistical models and the technical details of the models themselves while also gaining experience applying the methods to real data using R, python and/
or Stata. Competences acquired
- an understanding of the design-based approach to causal identification using potential outcomes model, selection bias and the importance of randomization
– experience with the major designs:
Regression discontinuity, instrumental variables, difference in differences, synthetic control and if time matching
– practice estimating causal effects using data, and examples of code R and StataGrading and assignment of ECTS-credits:
Given the short time period, students will conduct several replication exercises each weighted equally at 20% apiece (four total). I will then have a take home exam worth the remaining 20%.
Further information (literature and recommended textbooks):
Cunningham (2021), Causal Inference: the Mixtape (mixtape.scunning.com)
Cunningham substack, Causal Inference: the Remix
Huntington-Klein (2022), The Effect, also available free.Course dates: 05. – 08.07.2022
4 days, 21 hours total. Proposed 5 hour day schedule: start at 8 AM, break for 1 hour lunch at noon and end at 2 PM. Timing is very flexible, so we can work around what is needed.
Course registration: Registration is now open, please use the registration form.
Final registration deadline is May 31, 2022.
Course details will be provided in due course after the registration deadline.
www.zew.de/karriere/promovierende/zew-summer-courses-2022-in-cooperation-with-the-cdse
ZEW: Simulation Methods in Applied Microeconomics5 ECTSLecturer(s)
Course Type: elective courseCourse Number: ZEWCredits: 5Prerequisites
Prerequisites:
All first year CDSE or equivalent courses.
Course Content
Topics in economic research / Advanced topics in sustainability economics Computer-based numerical simulations are an important method in applied economic analysis for assessing the impacts of policy reforms. This course provides an introduction to simple numerical models that can be used for quantifying the effects of important energy and climate policy regulations. Such regulations build either on market-based instruments (e.g., emission taxes and tradable permits) or command-and-control strategies (e.g., energy efficiency mandates, renewable portfolio standards, and technology phase-out policies).
Competences acquired
Apply computer-based numerical simulations to study the effects of important energy and climate policy regulations.
Examine the economic implications of political requirements (e.g. coal phase-out) or exogenous shocks (e.g. supply reductions for gas) for the electricity supply.
Grading and assignment of ECTS-credits:
i) a seminar paper
Further information (literature and recommended textbooks):
Will be provided prior to the course.
Course dates: 12.-15.7.2022
Course registration: Registration is now open, please use the registration form.
Final registration deadline is May 31, 2022.
Course details will be provided in due course after the registration deadline.
www.zew.de/karriere/promovierende/zew-summer-courses-2022-in-cooperation-with-the-cdse