MS Quantitative Economics Curriculum
Advanced economic theory, experimentation, econometrics, machine learning and programming skills are fundamental skills any modern economists needs to master, regardless of whether you want to work on the private sector, the public sector, or at a NGO. We cultivate this knowledge in our technically sound curriculum, which contain complex, realistic empirical assignments from the start. Class are held full-time on campus in small classrooms where students get the opportunity to receive highly personalized attention from Faculty.
Core Courses
| Course Number & Description | Course Title | Units |
|---|---|---|
| ECON 5010 Review and discussion of the math tools needed for graduate work in economics, including set theory, calculus, linear algebra, properties of functions, and optimization. |
Essential Mathematics for Economic Analysis | 3 |
| ECON 5015 Use of computer programming for advanced data analysis in economics and analytics. Computer programming using statistical software, data gathering and cleaning, and machine learning. |
Computing and Machine Learning for Economics | 3 |
| ECON 5020 Statistical concepts for graduate work in econometrics, including probability theory, random variables, distribution functions, independence, expectations, covariance, correlation, random samples, estimation methods, properties of estimators, asymptotic theory, hypothesis testing, confidence intervals. |
Essential Statistics for Econometrics | 3 |
| ECON 5021 Linear regression model. Confidence and prediction intervals. Hypothesis testing. Generalized regression model and heteroscedasticity. Maximum likelihood estimator and its properties. Simulation and resampling methods. |
Advanced Econometrics I | 3 |
| ECON 5022 Maximum likelihood estimation. Binary, multinomial, and ordered discrete response models. Simulation methods, bootstrap standard errors. Truncated, censored regression. Structural equation modeling. Random utility and mixed logit models. Demand estimation. Generalized Method of Moments (GMM) estimation. Single agent dynamic models. |
Advanced Econometrics II | 3 |
| ECON 5023 Limited dependent variables and selection models. Quantile regression and nonparametric methods. Causal inference: Potential outcomes framework, causal treatment effects, randomization, matching, propensity-score methods, instrumental variables, regression discontinuity, difference-in-difference, two-way fixed effects, synthetic control, and econometrics of randomized experiments. |
Microeconometrics | 3 |
| ECON 5030 Preferences and choice, preferences over commodities, consumer demand theory, producer theory, choice under uncertainty, simultaneous and sequential move games, incomplete information games, mechanism and incentive design. |
Microeconomic Analysis | 3 |
| ECON 5040 Finite Markov chains, linear state space models, dynamic programming, autoregressive-1 (AR1) processes, optimal growth models, optimal job search models, Arrow securities, consumption-based asset pricing. |
Dynamic Stochastic Modeling | 3 |
Approved Electives
| Course Number & Description | Course Title | Units |
|---|---|---|
| ECON 5012 Representing uncertainty using discrete and continuous conditional probabilities. Monte Carlo simulation of independent and correlated random variables. Optimization under certainty and uncertainty. Case studies. |
Evidence-Based Decision Analysis | 3 |
| ECON 5025 Regularization, model selection, and supervised learning. Post model selection inference for causal effects. Double/debiased machine learning, causal trees, causal forests, and synthetic controls. |
Machine Learning for Prediction and Causal Inference | 3 |
| ECON 5031 Economic theories of industrial organization with specific reference to cartels, market concentration and performance, vertical integration, franchise contracts, ownership and control of firms, multipart and discriminatory pricing, and tie-in sales. Antitrust law and government regulation of industry. |
Industrial Economics | 3 |
| ECON 5032 Ascending, first-price, second-price, and double auctions. Revenue equivalence, multi-unit auctions, the Vickrey-Clarke-Groves mechanism, and matching markets. The deferred acceptance algorithm, the immediate acceptance algorithm, and the many-to-one matching model. |
Incentives and Market Design | 3 |
| ECON 5052 Economic analysis of the rationale for public expenditure and taxation. Externalities, pollution and public policy, income redistribution and public welfare, public goods, collective choice and political institutions, cost-benefit analysis, taxation and tax policy, and state-local finance. |
Public Economics | 3 |
| ECON 5053 Research methods in labor economics and application of modern empirical techniques to the analysis of labor markets. Labor supply and demand, discrimination, migration, and human capital accumulation. |
Advanced Labor Economics | 3 |
| ECON 5061 Analysis of the international movement of goods, services, capital and payments. The role of exchange rates, tariffs, quotas, and transport costs. Relationship between international trade and economic growth. |
International Economics | 3 |
| ECON 5071 Economic analysis of pollution, congestion, public good provision, and natural resource conservation. Static and dynamic efficiency, economic growth and sustainability, pollution taxes, marketable permits, and the design of market-based regulations. |
Environmental and Natural Resource Economics | 3 |
| ECON 5560 Applied, real-world empirical projects in economics chosen according to the common interests and needs of the students enrolled. Repeatable up to 4 units. |
Applied Economics Project | 3 |
For more details about the courses, see the Cal Poly catalog.