The ECO_41031_EP course extends the ECO_3X061_EP course in the first year, taking a more in-depth look at microeconomic analysis. Five main themes are covered:
- The behaviour of individuals, the notion of individual and collective preferences.
- Allocation problems.
- Market equilibrium, whether competitive or not.
- Government intervention.
- Choices under uncertainty.
- Information asymmetry.
This course is an introduction to modern macroeconomics, divided into two parts.
In the first part, elements of understanding short-term fluctuations and the role of major players (consumers, firms, government, central banks, etc.) are established.
The second part deals with long-term equilibrium fluctuations through a few selected themes.
The course also aims to introduce macroeconomic modeling, an aspect particularly developed through work in small groups.
Destiné aux élèves désireux de se familiariser avec les questions économiques et les problématiques d’entreprise, ce cours d’économie de l’entreprise et de stratégie/finance vise à donner d’une part des outils conceptuels de compréhension des facteurs structurant la vie des affaires, d’autre part des outils opérationnels d’analyse stratégique, financière et de gestion utilisés par les dirigeants d’entreprise.
Chaque séance est divisée en un cours où sont décrits une perspective stratégique/financière et des outils méthodologiques, suivi de petites classes où sont discutées des études de cas, préparées par l’ensemble des étudiants. Les cas sont distribués une semaine à l’avance. Il est demandé aux élèves de préparer les cas pour arriver prêts en PC. Les élèves doivent adresser un document qui requiert au moins deux heures de travail avant chaque PC.
Le cheminement pédagogique est le suivant :
2 leçons sont consacrées à une présentation concrète de la stratégie d’entreprise et de ses outils d’analyse. Apple est l’entreprise qui sert de fil rouge et d’application à toutes les leçons de stratégie. 2 leçons traitent ensuite des fondamentaux de la finance et de son écosystème opérationnel. La création de valeur fait l’objet d’une attention particulière car elle est l’un des objectifs habituels de la stratégie. Les 5 leçons suivantes s’intéressent à des thématiques étudiées en permanence lors de la définition de la stratégie d’une entreprise, Apple dans le cours.
Designing experiments to inform economic theory
Laboratory experiments about human decision-making have gained increasing importance in economics. The list of phenomena uncovered by laboratory experiments includes, but is not limited to: bounded rationality (statistical fallacies, learning biases…), motivated beliefs (overconfidence, anticipatory utility…), reference-dependence, dynamic inconsistency… This project will focus on one particular behavioral bias, chosen as a function of students’ interests. We will then review the theoretical and experimental literature on this specific phenomenon, and identify gaps in our knowledge. The project will culminate in an experiment designed and ran by the students (in teams of 2 students) to further advance our understanding of the relevance, importance and/or implications of the bias. The methodology will be based on a back-and-forth between microeconomic modeling (decision theory, game theory) and experimental economics.
Pre-requisites : ECO361 and ECO41031
References: Falk, A., & Heckman, J. J. (2009). Lab experiments are a major source of knowledge in the social sciences. science, 326(5952), 535-538.
Levitt, S. and J. A. List. (2007). Viewpoint: On the generalizability of lab behaviour to the field. Canadian Journal of Economics 40(2): 347-370.
Levitt, S. and J. A. List. (2007). What do laboratory experiments measuring social preferences reveal about the real world. Journal of Economic Perspectives 21(2): 153-174.
Camerer, C. (2011). The promise and success of lab-field generalizability in experimental economics: A critical reply to Levitt and List. Working paper.
This applied macroeconomics lab course is designed for engineering students interested in the quantitative analysis of macroeconomic policies. The aim is to bridge theoretical macroeconomic concepts with hands-on empirical research and empirical model-building. A strong emphasis is placed on the practical application of macroeconomic modelling and data analysis in a policy-relevant context.
In this course, we will study how econometric methods can help answer causal questions that are important for public policy. We will discuss why establishing credible causal links is difficult in social sciences and how to overcome some of the challenges. We will start by introducing the basic tools of applied econometrics: linear regressions and statistical tests. Then, we will outline several methods central to modern econometric practice: experiments, instrumental variables, regression discontinuity designs, fixed effects estimations, differences-in-differences and event studies. Finally, we will introduce some recent extensions to the econometric models and highlight current debates. Each topic will be illustrated using examples of real-life applications relevant for the policy debate, such as: how important is intergenerational mobility; why does poverty persist; how large are the returns to education; what is the effect of immigration on local labor markets.
During the tutorials, students will work in group to critically assess societal questions. The first exercise will consist in hypothetical scenarios, while in the second and the third exercises, students will receive actual data to work on. More specifically:
- Students receive a problem set detailing a societal question and listing a series of data available to the researcher.
- Students have to discuss how to solve the counterfactual problem using the data available and under which assumptions the solution is credible.
- Students have to propose a methodology to answer the question, listing its strengths and weaknesses.
- In some exercises, students receive actual data and have to implement the methodology themselves.
- Summarize the findings in a presentation in front of the class.
The evaluation consists of two parts, each weighting 50% of the final grade:
- Oral presentations in groups (3 short pres. based on exercises done in small classes)
- Term exam
The analysis of the American Endangered Species Program - The Endangered Species Act (ESA) was signed on December 28, 1973, and provides for the conservation of species that are endangered or threatened throughout all or a significant portion of their range, and the conservation of the ecosystems on which they depend.
The ESA replaced the Endangered Species Conservation Act of 1969; that has been modified several times.
A “species” is considered endangered if it is in danger of extinction (throughout all or a significant portion of its distribution area) and threatened if it is likely to become an endangered species within the foreseeable future. For each listed species the government is required to elaborate and fund a preservation plan that includes habitat restoration, studies on species status, educating and raising public awareness, reproduction in captivity and reintroduction, nesting studies, genetic studies and elaboration of management plans.
