Topics include elements of probability theory and its empirical application, univariate and multivariate distributions, sampling distributions, limiting distributions, and point and interval estimation. Regular problem sets and occasional projects are required. Students may not receive credit for this course and AMS 310. The application of mathematical and statistical methods to economic theory. Topics include the concept of an explanatory economic model, multiple regression, hypothesis testing, simultaneous equation models, and estimating techniques.
Emphasis is placed on the application of econometric studies.
A study of the structure of firms and markets and interactions between them. Price theory, strategic theory and transaction costs analysis are used to illuminate the sources of and limitations on market power of firms. Some empirical evidence, drawn primarily from the U.S. economy, is explored. A brief introduction to antitrust policy and regulatory policy will be discussed. In scope, the material deals with both contemporary and historical situations and with both developing and developed countries.