Introduction to Economics (ECO101) provides students with the foundational concepts of economics. The course begins with the investigation of the individual behavior of households and firms. Subsequently, students review and develop a thorough understanding of the concepts of supply and demand, before investigating how markets function. The course also covers imperfect competition and other macherket failures, as well as macroeconomic aggregates and the role of the central bank.

This course offers an introduction to mathematical tools used in Economics. It will present students with key concepts and results that will be useful in Economics courses in the Math/Econ double major, starting with Topics in Economics. 
Some tools will help students understand econometric methods used in empirical work. After a refresher on linear algebra and probability theory, students will go through some important statistical results (estimators, confidence intervals and inference, hypothesis testing…). They will also receive a short introduction to the R statistical software.
Other tools will help students in their study of economic models. After being reminded of some results on differentiation and calculus, students will be introduced to typical optimization problems faced by economists. They will learn results and techniques that will help them solve unconstrained and constrained static optimization problems.
The approach will be hands-on and problem-based, with applications from various areas of Economics.

This course provides an overview of how the concepts in economic analysis are applied through the real-life examples of scientific research in economics. Students will learn how

theoretical and empirical methods in economics are employed in the analysis of diverse subjects, such as economic growth, environmental regulation, public policy, networks, firms’ behaviors, etc.

 

The first part of the course introduces standard approaches to empirical economic research, including linear regression, instrumental variables, randomized control trials, difference in difference.  In each lecture, an application is presented from recent empirical research papers in the fields of Development and Environmental Economics.

 

The second part introduces the economic approach to various social phenomena, with a particular focus on how social interactions shape markets through broad mechanisms such as discrimination, imitation, or segregation. In each lecture, a particular topic is presented, using a combination of simple theoretical models with empirical illustrations.