mit economics phd placement

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Faculty of Arts and Sciences

The trade and development economist helping make markets more efficient in latin america and beyond.

By Michaela Herrmann

Every year, Yale’s Faculty of Arts and Sciences hires dozens of exceptional scholars in academic departments across the sciences, humanities, and social sciences. This series profiles six of the faculty joining the FAS in the 2024—25 academic year, highlighting their academic achievements, research ambitions, and the teaching they hope to do at Yale. Learn more about the incoming ladder faculty and multi-year instructional faculty joining the FAS .     

“I think it’s more important today than ever to understand how developing countries could leverage trade and access to global markets to grow,” says Mayara Felix, an expert on international trade and economic development and new member of the Faculty of Arts and Sciences.

Her research focuses on developing, middle-income countries such as Brazil, Colombia, and Indonesia . These countries face challenges to their growth, says Felix, but also have considerable state capacity and the opportunity to address economic obstacles with evidence-based policy .

Felix joins the FAS as Assistant Professor of Economics, with a joint appointment in the Jackson School of Global Affairs.

“There’s a lot of inequality in these countries, and there’s a lot of poverty. But there’s also plenty of richness in them, and an actual role for the state,” Felix says. The governments in these countries have pursued various policies to increase economic growth, and she wants to better understand what works and what doesn’t .

A sequence of graduate courses in international economics helped her realize “the incredible power that international trade and globalization have to change people’s lives, especially those in low- and middle-income countries,” she says. That realization prompted her to specialize in economic development and international trade so that she could “focus on a corner of research that seeks to understand problems and propose solutions to issues faced by low- and middle- income countries through the lens of market forces.”

The seed of Felix’s interest in these questions was planted early. Growing up in Brazil in the mid-nineties in an era of trade liberalization, she didn’t understand why some communities had so much wealth while others were just scraping by .

“I grew up in a poor community in Northeast Brazil, and in that context I was only able to understand the issues around me through a zero-sum lens,” she recalls. As Brazil opened its economy to the world, she thought the only solution to poverty in her country would be to “take from the rich and give to the poor.” But by high school, she says, “I had matured enough to understand that the world is complex. I needed more knowledge and more tools—not only to better see the issues around me, but to know how to come up with solutions.”

Now Felix studies policies intended to improve market efficiency, such as import tariff reductions, free trade agreements, and outsourcing. She’s especially intrigued by the ways even well-designed policies can have unexpected consequences, and how firms respond to policies that affect their ability to compete with other firms .

One such policy outcome is a market failure called market power, which Felix says is often a good reason for lawmakers to intervene. “Policy may need to guarantee free competition access to one place or reduce the barriers of entry to another,” she explains, so that markets can work more efficiently and consumers aren’t forced to pay sky-high prices .

Externalities are another important factor that may be addressed by economic policy, Felix points out, particularly in developing countries where there may be a huge economic benefit to doing so. “There are positive externalities like education; if you’re educated, you’re going to positively affect other people in your life. But whoever educated you doesn’t get to benefit from that economically, so that education is under-provided in the private sector. That means the government should provide it. Similarly, pollution is an example of a negative externality. There is a big rationale for governments to tax pollution and things like that.”

She wants her students to develop a strong understanding of when and why countries might need to use policy to intervene in markets. “In both the Economics Department and the Jackson School, students are really connected with policy,” she says. She plans to use her co-appointment to teach classes that allow students to engage critically with economic policy around the world. “ I’d like to teach a master’s class at Jackson where we look at the intersection of trade and development and ask, ‘where across the globe have we seen these types of policies, and have they been successful or unsuccessful? What does policy evaluation look like in this space?’”

Building students’ understanding of the real-world implications of their work will be a core element of Felix’s classes. She wants students to be able to correctly apply what they learn after graduation, and to make well-informed policy decisions. “Imagine you’re working for the United Nations, the World Bank, or the International Monetary Fund, and you want to be able to critically assess a policy they’re trying to do. What are some principles that you need to guide yourself by to be able to give good feedback on those policies?”

Felix is also looking forward to this fall’s Cowles Trade Days conferences, hosted by the Cowles Foundation for Research in Economics and the Department of Economics. Felix presented her research on Colombian tariff quotas last year, and plans to speak about the reallocation effects of domestic outsourcing at the September 2024 conference. She highlights its value as a place to discuss early research with peers and students from across disciplines. “This is an opportunity for us to present work to our peers and get great feedback early on. And since this is our home environment, we get to expose our students to what early-stage research looks like. It’s pretty incredible .”

Felix is excited to continue getting to know not only her new departments, but the city of New Haven, too. “It’s very diverse, and a very manageable version of a big city,” she says of her new home. After completing her PhD in Massachusetts, she had been set on living in a bigger city like New York or São Paulo—but everything worked out even better than Felix imagined.

“I am so, so happy that I ended up here,” she says. “I think it’s my dream placement.”

Image 2:  Felix presents research on Brazil.

Curriculum and Thesis

In their first and second years, PhD students are required to complete a series of core classes, coursework in their major and minor fields of study, and an advanced research methods course before proceeding to the thesis-writing stage.

Core courses

Students must satisfy the requirements in at least 10 of 12 half-semester first-year core courses (14.384 and 14.385 are considered second-year courses). The requirements can be met by earning a grade of B or better in the class or by passing a waiver exam.

Waiver exams are offered at the start of the semester in which the course is offered and graded on a pass-fail basis. Students who receive a grade of B- or below in a class can consult the course faculty to determine whether to take the waiver exam or re-take the course the following year. These requirements must all be satisfied before the end of the second year.

Course list

• 14.121: Microeconomic Theory I
• 14.122: Microeconomic Theory II
• 14.123: Microeconomic Theory III
• 14.124: Microeconomic Theory IV
• 14.380: Statistical Methods in Economics
• 14.381: Estimation and Inference for Linear Causal and Structural Models
• 14.382*: Econometrics
• 14.384*: Time Series Analysis (2nd year course)
• 14.385*: Nonlinear Econometric Analysis (2nd year course)
• 14.451: Dynamic Optimization Methods with Applications
• 14.452: Economic Growth
• 14.453: Economic Fluctuations
• 14.454: Economic Crises

*Courses 14.382, 14.384, and 14.385 are each counted as two half-semester courses.

Most students will also take one or more field courses (depending on whether they are waiving core courses) during their first year. Feel free to ask your graduate research officer, field faculty, and advanced students for advice on how you structure your first-year coursework.

Second year students must also successfully complete the two-semester course 14.192: Advanced Research Methods and Communication. The course, which is graded on a pass-fail basis, guides students through the process of writing and presenting the required second-year research paper.

Major field requirement

By the end of year two, PhD students must complete the requirements for two major fields in economics. This entails earning a B or better in two designated courses for each field. Some fields recommend additional coursework or papers for students intending to pursue research in the field.

Major fields must be declared by the Monday following the spring break of your second year. Your graduate registration officer must approve your field selections.

Minor field requirement

PhD students are also required to complete two minor fields, taking two courses in each field and earning a grade of B or better. Your graduate registration officer must approve your field selections.

Minor coursework is normally completed by the end of year two, but in some cases students can defer the completion of one field until after general exams. Students must consult with their graduate registration officer before making a deferment.

Options for minor fields include the eleven economics major fields, plus computation and statistics (from the interdisciplinary PhD in Economics and Statistics).

Students who wish to satisfy one of the minor field requirements by combining two courses from different fields–for example, environmental economics and industrial organization II–can petition the second-year graduate registration officer for permission.

At least one minor field should be from the department’s standard field list.

The fields in which the Department offers specialization and the subjects that will satisfy their designation as a minor field are given in the chart below. Some fields overlap so substantially that both cannot be taken by a student. In any event, the same subject cannot be counted towards more than a single minor field. Students must receive the approval of their Graduate Registration Officer for their designated major and minor fields.

List of fields

Behavioral economics.

• Development
• Econometrics
• Industrial organization
• International
• Macroeconomics
• Organizational
• Political economy
• Public finance
• Computation and statistics (minor only)

Subjects satisfying major and minor requirements

Advanced economic theory.

Major: At least two of 14.125, 14.126, 14.281, and Harvard Ec 2059. Recommended for major: 14.126, 14.281, and at least one of 14.125, 14.127, 14.130, 14.147, and Harvard Ec 2059.

Minor: Any subset adding up to two full semesters from 14.125, 14.126, 14.127, 14.130, 14.137, 14.147, 14.160, 14.281 and Harvard Ec 2059. 

*Effective academic year 2025-26, students may also complete a minor in economic theory by completing all four micro core courses 121-124 plus one of 125, 126, 281

Major and minor: 14.160 and 14.163

Econometrics and Statistics

Major: Any one of 14.386, 14.387, 14.388 in addition to one of 14.384 or 14.385. Recommended for major: 14.384 and 14.385. 

Minor: 14.382 in addition to one of 14.384 or 14.385. 

*Dual PhD in Economics and Statistics has an additional requirement of 14.386.

Economic Development

Major and minor: 14.771 and 14.772 or 14.773

Major: 14.416J and 14.441J

Minor: Any two of 14.416J, 14.440J, 14.441J, 14.442J, 14.448. 

Industrial Organization

Major: 14.271 and 14.272 or 14.273. Recommended for major: 14.271, 14.272, and 14.273.

Minor: 14.271 and 14.272 or 14.273. 

International Economics

Major and minor: 14.581 and 14.582

Labor Economics

Major: 14.661 and 14.662A. 

Minor: Two subjects chosen from 14.193, 14.661, and 14.662

Monetary Economics

Major and minor: Two subjects chosen from 14.461, 14.462, and 14.463

* Effective academic year 2025-26, students may also complete a minor in macroeconomics by completing all four macro core courses 451-454 plus either 461 or 462

Organizational Economics

Major and minor: 14.282 and one of 14.283-284, 14.441J, or an approved substitute

Political Economy

Major and minor: 14.770 and 14.773

Public Economics

Major and minor: 14.471 and 14.472

Minimum class requirement

Effective for students entering the program in 2025 or later, students must complete a total of 13 semester long classes plus 14.192 during their time in the PhD program. Subjects that are waived will not count towards this requirement.  Classes counting towards this requirement include classes in Course 14, classes that count for any major or minor field or interdisciplinary program requirement, and classes approved by the 2nd-year GRO.

General exams

MIT requires doctoral candidates to complete an advanced course of study that includes general exams at its completion. Beginning in 2019-20, the Economics Department will operationalize this requirement to include successful completion of: the core and other required courses; course exams and other requirements of courses in each of a student’s two major and two minor fields; the written research paper and oral presentation components of 14.192. Students may present for the general exams while having one remaining minor field to complete. The faculty will review these components together with the candidate’s overall course record to determine whether students have passed the general exam requirement and can proceed to the thesis writing stage.

Typical course schedule

Math Camp begins on the second Monday in August.

Fall Semester

14.121/14.122 (Micro Theory I/II) 14.451/14.452 (Macro Theory I/II) 14.380/14.381 (Statistical Method in Economics & Applied Econometrics) Field Course (major or minor)

Spring Semester

14.123/14.124 (Micro Theory III/IV) 14.453/14.454 (Macro Theory III/IV) 14.382 (Econometrics) Field Course (major or minor)

2-3 Field Courses 14.192 (Advanced Research and Communication) 14.384  or  14.385 (Advanced Econometrics)

3 Field Courses 14.192 (Advanced Research and Communication)

Years 3 and up

Field workshop Field lunch Thesis writing

Upon satisfying the core and field requirements, PhD candidates embark on original research culminating in a completed dissertation. A PhD thesis normally consists of three research papers of publishable quality. The thesis must be approved by a student’s primary and secondary thesis advisors, and by an anonymous third reader. These three faculty members will be the candidate's thesis committee and are responsible for its acceptance. Collaborative work is acceptable and encouraged, but there must be at least one paper in the dissertation without a co-author who was a faculty member when the research started.

Criteria for satisfactory progress

Third-year students.

• Meet regularly with their advisor
• Participate consistently in their primary field advising lunch, their primary field workshop, and the third-year student research lunch
• Participate in third-year meetings organized by the thesis graduate research officer

Students should present on their research in progress at least once in both the third-year student research lunches and their field advising lunch. Presentations provide opportunities for early and broad feedback on research ideas and the chance to develop oral presentation skills. Research ideas or early stage work in progress is encouraged and expected.

Fourth-year and later students

• Participate consistently in their primary field advising lunch and their primary field workshop
• Present at least once per year in their field advising lunch or field workshop. A presentation each semester in the field advising lunch is strongly recommended by most fields; consult your advisors for more information

Satisfactory progress toward a dissertation will be evaluated based on progress assessments by the student’s primary advisor, regular participation in the lunches and workshops, and field lunch or workshop presentations that show continued progress.

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Aiming for a specific goal with an Econ PhD

Hi! Some background:

I'm a sophomore student (and minority student fwiw) with an econ major at a good university in the southeast (though it is not known for its economics program).

As far as math courses go, I got As in Cal I and II, and I'm currently in Cal III (will probably get an A in it as well). I will eventually be taking Introduction to Advanced Mathematics (mathematical proofs), Real Analysis, and Linear Algebra. I also have the option of using my electives/minor for things like Statistics or Differential Equations.

I finished my introductory economics courses last semester with all As, and I'm in intermediate economics classes this semester (again, I will probably finish with As in them as well). I will take Econometrics sometime in my junior year.

I am aiming to get an economics PhD at MIT or another highly ranked university. Here's why: there's a research topic I am interested in exploring that is related to internet use, AI, and how they relate to wealth. This specific topic is something that several researchers at MIT specialize in or know about. However, I am almost sure that I would not be satisfied with working in academia for the rest of my life, though being a professor for awhile doesn't sound bad. To avoid too many details, my ultimate goal is to take my research and (depending on what outcomes I find) apply it to starting a nonprofit organization for the purpose of poverty relief.

My question is: does an economics PhD make sense for this, or would a masters be more suited to my goals if I'm not interested in staying in academia?

And aside from the usual recommendations of doing undergrad research, more math classes, etc, is there anything important that I should be doing now? I know I'm looking pretty far into the future, but I want to set myself apart early if I'm to apply to a top university for economics.

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Graduates from the PhD program are placed in Academia, Government Agencies, Technology Industry, Finance and Banking.  

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• PhD Program
• Program Requirements
• Job Market Candidates
• Financial Support

Staff Handbook

Policies and procedures.

Search form

Graduate assistant: placement.

1) End of March or Early April - create a temporary email list ( [email protected] ) for students going on the job market (Placement Officer will say when).

• Mailman: Create a list, and then continue through the steps with “Mailman” options (not Moira)
• Add all of the administrators as members of the list.
• Make sure to set the settings on “email approval requests” so that placement officer and administrator can send emails directly to econjobs201X without having to approve pending email requests – usually solved by adding admins as members. Talk to help desk about this at IS&T.
• Placement Officer sends out an email (to econ-grad) for students to sign up for the mailing list if they think they will go on the job market with dates of the first two placement meetings – information session and trenches meeting. Ben also sends out reminder emails to econ-grad.
• Ben uses the new email address after the first two meetings for further communication, so those who didn’t sign up will NOT get his emails!!

2) End of March or Early April - order food and reserve Freeman Room for preliminary placement meeting (Meeting #1)

• Order food from MIT Bon Appetit - (estimate number of people using number that signed up for econjobs201X emailing list)
• Take attendance and record who came and how many students came to the meeting
• Afterwards: Create spreadsheet of who attended, their program year, who signed up for the new mailing list, who attended but had not signed up, and who signed up but didn’t attend meetings.

3) Mid or End of April – order food and reserve Freeman Room for "View from the Trenches" Panel Discussion Meeting (Meeting #2)

• Order food from MIT Bon Appetit (estimate number of people using number of students that signed up for econjobs201X emailing list)
• Take attendance

4) Early June: Add students from the [email protected] (temporary mailing list) to [email protected] mailing list. Remove old students from this list.

• Go to http://ist.mit.edu/email-lists?category=7
• At the bottom of the page, you will see a section labeled, “Getting Started”, click on Manage Moira Lists (this mailing list was created using Moira unlike the temporary list above)
• Search for econ-jobs, and it will pop up. As soon as you are added as an administrator, you can add the students who are on [email protected] onto econ-jobs.

5) July or Early August: Whenever Placement Officer emails the calendar             

• Contact Communications Workshop Expert to set up workshops
• Add calendar to stellar website:   https://stellar.mit.edu/S/project/econ-jobs/materials.html

6) August/Early September

• For communications workshops, reserve a classroom in E51 (large classroom with a projector and whiteboard). Bring water for the students.
• Send reminder email to students about workshops once dates/rooms are set. Create a doodle poll for second optional meeting to get attendance (to include in email)
• Book Avanessians Room for the group placement meetings and order food for all of the groups meetings and faculty meeting (ask Kara to order for faculty meeting). Make copies of the handout packet once it has been updated (coordinate with Placement Officer on who will be making the edits).
• Make sure updated CV template, calendar and placement meeting handout are posted on Stellar
• Coordinate with Placement Officer to get preliminary list of job market students (mainly taken from who is on econ-jobs mailing list)
• Create accounts for everyone (using Kerberos Username, First Name and Last Name)
• Ask students (coordinate with Placement Officer and Econ IT Head) to put in their information into the database (i.e. advisors, title of paper, etc.)
• Create and share google doc (for business schools) with Placement Officer (only) for review.  Share with students after first placement meeting. Note: students may send requests for you to share spreadsheet with their Gmail accounts, so check grad office email address often .  

7) Mid-September

• Follow-up with students who did not put info into database
• If student is not going on job market, delete his/her record from database
• If student is going on job market, ask him/her to submit info ASAP

Note: Use the list created by database to create finalized list of job market students

• Share google doc (for business schools) with students
• Start preparing Placement binder
• Use 8-tab insertable tabs and type up the students’ names
• Print out their pictures from shared drive
• In shared drive, create a folder under Placement 201X called “Student Files”
• Create a folder for each student on the market
• Create a spreadsheet for Placement Officer with this information (taken from database): First Name, Last Name, Email, Primary and Secondary Fields, Paper Title, Advisors, Other Letter Writers. You can get this information from the placement database. Ask with Placement Officer if s/he needs this. Maybe not be necessary as information is in database.
• Ensure that the Freeman Room is booked and food is ordered for October Group Placement Meeting
• Check to see who has websites: http://economics.mit.edu/graduate/gea/directory if they don’t have MIT websites, then the IT group can create a job market website for them (will be formatted).

8) Mid/End-October

• Could happen earlier in person, but email Dale DeLetis for available times in November and December. He comes one day in November and one day in December to meet with students individually. Please book a room (he likes the conference rooms in Sloan). This room must have an overhead projector.

For E60-112, the contact person is Tammy L Holmstrom (Executive Assistant to the Dean): [email protected]

• Also order two parking passes and email them to Dale.
• Employers (Recruiters) will start to contact you about recruiting students- tell Placement Officer and help set up each event (circulate job description, notify students, book room)
• Correct CVs:

 - Check Alignment, make sure dates/positions are listed in chronological order starting with most recent position

- make sure students un-italicize information that is customized.

- check that phone numbers are listed correctly (don’t use fax number) and email addresses are correct.

• Send out Doodle poll for individual meetings with Placement Officer (three days at the end of the month).
• Make 30 copies of the handout packet for group placement meeting and post to Stellar.
• Collect CVs electronically from students. Save CVs under student’s file and print out a copy for the binder                 Order: photo, CV, paragraphs (in order of advisors, primary adv./secondary adv., etc.), letters of recommendation. Save all information in students’ individual folders on shared drive.
• When Placement Officer emails the faculty asking for the job market meeting paragraphs, create a spreadsheet to record advisors and who passed in paragraphs. Placement Officer will email those who didn’t pass in their paragraphs. 
• As the paragraphs come in, save them in the student files and print them out for the binder. Use Placement Officer’s format.
• Create a spreadsheet for the assistants listing faculty members and their job market students. Send list to assistants once all CVs are collected (Ask Placement Officer for approval first).
• Check Mail Merge and Instructions for any updates and post both on Stellar.

To create a _jm email address:

Go here: http://ist.mit.edu/email-lists?category=7  

At the bottom of the page, please select “Create an Athena/Moira or Mailman List” Click on the link and choose to create “Moira” as the Type of List Click Next and to create an email address – type in the name of the email address you would like. Do NOT add @mit.edu part. For the market, it would be “ your email address_jm @mit.edu” For Description, you can add “XX’s email for recommendation letters”

I do not check off any of the boxes. Click on Next, and it states that your email will take four hours to register.  

• To check who has access to these emails, go to https://groups.mit.edu/webmoira/

And you will see the list of emails that you administer/included in.

• Important!!! Preparation for Placement Meeting:
• Must create two spreadsheets of students and their primary and secondary fields- One will have students listed in alphabetical order and the other will have students categorized by fields (going down). Send second spreadsheet to Ben for approval. Take fields from students’ CVs.
• Create one pdf of all students CVs (from student websites) in order that they are listed in the second (sorted) spreadsheet with that spreadsheet as the first page.
• Send off to CopyTech on morning of meeting – must be ready by 1 pm.
• Make sure binder is up to date in terms of CVs, paragraphs and photos for the meeting.
• Attend the meeting and take notes.
• Important!! Get Communication Specialist’s invoice either from Placement Officer or Communications Specialist himself. Make sure to start the payment process immediately!!
•   Specialist should be paid by the end of the year.
• Important!! Start working on Job Market Candidates Website (after placement meeting) – List Names (with links to individual websites), Primary and Secondary Fields (take from CVs). Ask Mark to hide the website, so no one can google it. Have Ben look at it. He will send it to the students for review. Work with Mark and Ben to ensure that it will go live on the stated date.  
• Ensure that the Avanessians Room is booked, and food is ordered for November Group Placement Meeting. Make copies and post handout to Stellar.
• Coordinate with Placement Officer on instructions on how to prepare letter files for assistants:
• Update any changes to the instructions page and post on Stellar
• Ask students to enter as much information as possible when entering information in database (they should note the website that they used to submit their applications, include department or school (policy, business) if not obvious by employer name, any contact information for email submissions, etc.)
•  Dates: should be either the date that all of the job packets are sent out or earlier. Have them highlight the early deadlines and inform assistants and advisors ASAP
• URL Link should be the direct link for uploading letters – usually with mailing address. If they don’t know the link, they cannot put the link to the job description.
• Students should know that they need to state _jm addresses for all submission type EXCEPT FOR JOE and EJM. Joe and EJM accounts are linked directly with the faculty’s regular email address. For EJM, assistants can login with their faculty’s login information. For JOE, faculty add their assistants to their account to send out letters.
• Send out doodle poll for students regarding Communications Specialist. Set up the doodle so that students can only choose one time slot out of the ones that are available. Create a schedule for each day once the poll is complete. Wait a couple of days to send as students may have time conflicts.
• - Follow template from previous years – you need to create a column of students’ names and their primary and second fields. Use the information they list on their CV.

- Link the names of each student to his/her website.

- Work with placement officer to send out this hidden website, so students can check before it goes live. 

9) September/End of October/Beginning of November

• Recruiters will begin to call and ask to set up presentations and interviews with students. Examples: IMF, Federal Reserve. Keep track of who is interested. Tell Placement Officer and help set them up with parking passes and book room for events. Ask recruiters if they are interested in only job market candidates, all graduate students and/or undergraduates.
• Sometimes, there are internships available for undergrads. Ask Gary to send out an announcement (with Placement Officer’s approval).
• Mail merge: students should pick up envelopes and labels (Avery #5162) from our office for schools that require hard copies of letters. They need to tie envelopes with rubber band and attach a sticky note with their names on it.
• Send Communications Specialist list of students for his visit and parking passes.
• Ask Placement Officer about the clickable papers spreadsheet. We keep track of when students from the top-5 departments post their job market papers on their websites.

10) Mid to End November/Beginning-Mid of December

• Check to make sure that students are filling out the database with their interview information
• Email faculty members with job market interview assignments. Ben will email you a list of assignments. Each faculty member will be assigned to one job market candidate.

11) December –

• Once AEA information is finalized, email econ-jobs with our disclosure code, mention that food will be served at the suite, include our cell phone numbers
• Send invitation to our AEA reception
• Upon arrival to the hotel, inform our job market students, staff and faculty of our suite number

12) January – AEA Meetings

• At the AEA meetings, help the students with anything they will need help with. Mainly, it will be talking to them about their interview experiences.
• Make sure that we get our food on time, have coffee at ALL times of the day

13) After the interviews, Placement Officer will send out an email to keep the database updated with flyout information. You will have to follow-up with anyone who is not recording information into the database.

14) During/After the flyouts, Placement Officer will send out an email to keep the database updated with offers. You will have to follow-up with anyone who is not recording information into the database.

15) End of March/April (before new placement group meetings)

• Update last year’s placement evaluation form and send it to the placement officer. S/he should send it out to econ-jobs.
• As the evaluations come in from the students, save them in their respective folders and print them out for the binder (put them in the manila folder and hand to placement officer). There should not be any names on the printed forms (keep them anonymous).
• Ask about creating a separate document for Placement Officer. He likes to see the comments and ratings regarding his workshops. Again, the document should not have any names.

Doctoral Degrees

A doctoral degree requires the satisfactory completion of an approved program of advanced study and original research of high quality..

Please note that the Doctor of Philosophy (PhD) and Doctor of Science (ScD) degrees are awarded interchangeably by all departments in the School of Engineering and the School of Science, except in the fields of biology, cognitive science, neuroscience, medical engineering, and medical physics. This means that, excepting the departments outlined above, the coursework and expectations to earn a Doctor of Philosophy and for a Doctor of Science degree from these schools are generally the same. Doctoral students may choose which degree they wish to complete.

Applicants interested in graduate education should apply to the department or graduate program conducting research in the area of interest. Some departments require a doctoral candidate to take a “minor” program outside of the student’s principal field of study; if you wish to apply to one of these departments, please consider additional fields you may like to pursue.

Below is a list of programs and departments that offer doctoral-level degrees.

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Combine an international MBA with a deep dive into management science. A special opportunity for partner and affiliate schools only.

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Apply now and work for two to five years. We'll save you a seat in our MBA class when you're ready to come back to campus for your degree.

Executive Programs

The 20-month program teaches the science of management to mid-career leaders who want to move from success to significance.

A full-time MBA program for mid-career leaders eager to dedicate one year of discovery for a lifetime of impact.

A joint program for mid-career professionals that integrates engineering and systems thinking. Earn your master’s degree in engineering and management.

Non-degree programs for senior executives and high-potential managers.

A non-degree, customizable program for mid-career professionals.

Current PhD Students

Students in the Accounting research group study topics such as accounting anomalies, alpha generation, arbitrage limits, empirical asset pricing, financial econometrics and options.

Accounting PhD Students

Fabio da Silva Soares

B.A. Economics and Mathematics

Chuck Downing

B.S. Accounting

Zoe Yuxin Han

B.B.A. Accountancy and ACMS

B.A. Business Administration and Economics; M.S. Business Administration

B.B.A Business Administration; M.S. Business Administration

B.S. Math, Economics & Statistics

Yuting Wang

B.A. Accounting

B.A. Management, Accounting

Cindy Zhang

B.S. Accountancy; B.S. Finance; M.S. Statistics

Economic Sociology

Our Economic Sociology students research topics such as organizational learning in the public sector, social network analysis and its intersection with contract theory, institutional analysis, organizational change, and financialization.

Economic Sociology PhD Students

Hajar El Fatihi

B.A. Applied Mathematics; M.A. Sociology

BMS Finance; MBA

Tatiana Labuzova

B.A. International Relations; M.A. Economics

B.A. Public Policy; M.A. Computational Social Science

Audrey Mang

B.S. Mathematics

B.S.E. Mechanical Engineering; MBA

Mikaela Springsteen

M.A. Sociology with Quantitative Methods

B.A. Social Studies; M.Sc. Social Science of the Internet

Bradley Turner

B.S. Economics; M.A. Social Science

Victoria Zhang

B.A. Political Science and French

Our Finance students research topics such as asset pricing, behavioral finance, corporate finance, empirical asset pricing, executive compensation, financial inclusion, financial econometrics, financial intermediation, financial macroeconomics, household finance, industrial organization, labor and finance, market microstructure, macro-finance, and macroeconomics.  

Finance PhD Students

Patrick Adams

B.A. Economics and Mathematics/Statistics

Enzo Bastos Profili

B.S. Industrial Engineering and Economics

Quentin Batista

B.A. Economics and Finance; M.A. Economics

Marta Bilghese

B.S. Finance; M.A. Economics

Monroe Gamble

B.S. Business Administration

Brice Green

B.A. Economics; M.A. Economics

Information Technology

Our Information Technology students research topics such as AI and the future of work, applied machine learning, causal inference, computational social science, economics of digitization, economics of information technology, econometrics and machine learning, intangible capital, networks, online marketplace design, productivity, and social networks.

Information Technology PhD Students

Mohammed Alsobay

B.Sc. Chemical Engineering; M.Sc. Applied Math and Computational Science

Michael Caosun

B.S. Mathematics; B.A. Economics

Justin Kaashoek

B.A. Applied Mathematics

Benjamin Manning

B.A. Applied Mathematics; M.P.P. Social Policy and Statistics

Hirotaka Miura

B.S. Mathematics/Economics; M.A. Mathematics of Finance

B.S. Physics; B.A. Knowledge Ecology

Peyman Shahidi

B.Sc. Electrical Engineering; M.A. Economics

Jaeyoon Song

B.B.A. Business Administration

Hong-Yi Tu Ye

B.A. Economics; M.Sc. Computational Statistics and Machine Learning

Institute for Work and Employment Research

Students in the Institute for Work and Employment Research group study topics such as behavioral science, comparative employment relations, labor economics,  labor standards in global value chains, political economy, subjective well-being, worker grievances and voice, and working time arrangements in organizations.

IWER PhD Students

Alexander Busch

B.A. Sociology, Heidelberg University; BSc Economics, Heidelberg

Soohyun Roh

B.A. Economics and Sociology; M.A. Sociology

K. MacKenzie Scott

B.A. Economics and French; M.P.A.

B.A. English Language and Literature; M.A. Computational Social Science

Our Marketing students research topics such as Applied Machine Learning, Computational Social Science, NLP, New Product Development, Online Marketplaces,  and Quantitative Marketing.

Marketing PhD Students

Cathy Xi Chen

B.S. Psychology, Economics, and Statistics; M.A. Computational Social Science

B.Mgmt.; M. Management Science

B.S. Information Management and Information Systems; B.A. Law; M. Econ

Zelin (James) Li

B.A. Applied Mathematics and Statistics; M.S. Statistics

Chengfeng Mao

B.S. Computer Engineering; M.S. Computer Science

Cameron Martel

B.S. Cognitive Science

Reed Orchinik

B.A. Economics

Hongshen Sun

B.Eng. Engineering Physics, M.S. Operations Research

Joshua White

LL.B. Law and BCom. Finance; LL.M. Law; Grad. Dip. Psych. and Advanced Psych.

Organization Studies

Our Organization Studies students research topics such as artificial intelligence, changing nature of work inside established firms in a digital context, crowdsourcing, decision making, future of work, groups and teams, future of work, teams, & visual technologies.

Organization Studies PhD Students

Laura Changlan Wang

B.A. Psychology and Statistics

B.A. Neuroscience and Healthcare Management; M.S. Customer Analytics

System Dynamics

Our System Dynamics students research topics such as autonomous and alternative fuel vehicles,  behavioral operations management, consumer product development, cost of product failure and product recall dynamics, energy industry management, government policy, & firm strategy.

System Dynamics PhD Students

Cathy DiGennaro

B.A. Neuroscience

Jason Friedman

M.S. Data Science; B.A. Mathematics

Alexander Kuptel

B.A. Economics and Philosophy

Arya Yadama

B.S. Electrical Engineering and Computer Engineering

Technological Innovation, Entrepreneurship, and Strategic Management

Students in the Technological Innovation, Entrepreneurship, and Strategic Management group study topics such as Entrepreneurship, Human Capital, Incentives, Innovation, Innovation Economics, Intellectual Property, M&A, Strategic Management, Strategy.   

TIES PhD Students

Alexis Haughey

S.B. Mechanical Engineering

B.Econ. Economics and Business

Christina Nguyen

A.B. Sociology

Laura Shupp

B.S. Economics

• Youth Program
• Wharton Online

Career Placement

Wharton prepares you to become an academic leader. our phd graduates have gone on to excel at leading academic institutions, research centers, and enterprises around the globe..

Working with Wharton’s faculty, you are trained in the practices of rigorous research. You learn how to frame questions from a multi-disciplinary perspective through exposure to the broadest range of business knowledge. This breadth and depth of thinking yields new ideas, and scholars who break new ground in their selected area of research.

You leave Wharton ready to contribute meaningfully to your field, typically having published with your faculty mentors prior to graduation. Most Wharton doctoral graduates take positions at leading academic institutions, and many alumni continue working with their Wharton mentors and colleagues, returning to Wharton for conferences and colloquia throughout their careers.

Student Placements

Here’s a list of placements, by program and year of graduation, over the past 10 years:

Visit here for Accounting PhD placements.

Applied Economics

World bank Post doc at NYU Furman center. Treasury’s Office of Financial Research. UT Dallas National University of Singapore

Brattle Group University of Wisconsin Business,  Post Doc at Treasury Brattle Group Cornerstone Research Rutgers Business School Cornerstone Research

OECD Federal Reserve Board NYU, Postdoc and Hong Kong University Princeton, Postdoc

University of North Carolina, Chapel Hill University of Texas, Austin Bank of Canada NBER, Postdoc

Stanford University Cornerstone The Vanguard Group

Michigan State Federal Reserve Bank of New York (Post-doc at Chicago Booth) London School of Economics

Cornell University Microsoft Research NERA Economic Consulting University of Colorado, Boulder

Econ One Harvard Business School National Taiwan University Nuna Health Toulouse School of Economics University of California, Merced

Baruch College Clemson University Northwestern University Putnam Investments Research Affiliates

Consumer Financial Protection Bureau Duke University Indiana University University of Delaware University of Wisconsin, Madison

Berkeley Research Group University of Michigan U.S. Treasury Department Sungkyunkwan University, SKK GSB

Note: The Applied Economics program was created in Fall 2008 and, therefore, has placed students beginning 2013.

Ethics & Legal Studies

Visit here for Ethics & Legal Studies PhD placements. 

The Ohio State University, Fisher College of Business Vanderbilt University, Owen Graduate School of Management

BlackRock Cornerstone Research Drexel University, LeBow College of Business Harvard Business School Rothschild & Co

BlackRock Boston Consulting Group Columbia Business School Kenan-Flagler Business School of the University of North Carolina McGill University MIT Sloan Universidad Carlos III de Madrid University of Hong Kong

Capital One Stockholm School of Economics

Arizona State University Hong Kong University of Science and Technology University of Florida University of Warwick, Warwick Business School

BI Norwegian Business School INSEAD London Business School (2 placements) Peking University University of Hong Kong (2 placements)

Carnegie Mellon University Cornell University Cornerstone Research Peking University Southern Methodist University University of Wisconsin, Madison

AQR Capital Management Carnegie Mellon University, Tepper School of Business Citadel Tulane University, Freeman School of Business University of Chicago, Booth School of Business University of Southern California, Marshall School of Business

Federal Reserve Bank of New York University of Michigan University of North Carolina, Chapel Hill

Boston College Cornell University Federal Reserve Board Michigan State University Ohio State University University of Houston

Google University of California, Los Angeles University of Delaware University of Minnesota University of Oxford

Google University of Delaware

Mingshi Investment Management Peking University Southern Methodist University

Carnegie Mellon University University of British Columbia University of North Carolina, Chapel Hill University of Rochester University of Wisconsin, Madison

Cornell University Getulio Vargas Foundation Southern Methodist University U.S. Securities and Exchange Commission University of Southern California

New York University University of Florida

Cornerstone Research KAIST (Korea Advanced Institute of Science and Technology) University of Iowa University of Minnesota, Twin Cities

Aalto University School of Economics University of California, San Diego

Federal Reserve Board

Health Care Management & Economics

Charles River Associates Baylor University Cornell University Medical Campus (Weill) University of Miami USAID Emory University Securities and Exchange Commission (SEC)

Harvard Business School New York University University of Pennsylvania, Perelman School of Medicine NYU Langone Medical Center Analysis Group

University of Virginia Northwestern University, Kellogg School of Management RAND Corporation University of Pittsburgh Analysis Group

Indiana University Bloomington John Hopkins Bloomberg School of Public Health University of Pennsylvania, Perelman School of Medicine US Department of Health and Human Services

Asian Development Bank RAND Corporation

RAND Corporation

Cornell Medical School RAND Corporation Thomas Jefferson University University of Pennsylvania, Perelman School of Medicine Urban Institute

RAND-UCLA (Joint Post-Doc) San Diego State University Temple University, Fox Business School

Columbia University Peking University Urban Institute US Army Medical Department Telehealth Office

Bill and Melinda Gates Foundation Brigham and Women’s Hospital University of Pennsylvania, Perelman School of Medicine

Massachusetts General Hospital

University of Missouri University of Porto, Faculty of Economics

Bocconi University Ohio State University University of Southern California, Marshall School of Business Rice University New York University, Stern School of Business Massachusetts Institute of Technology

George Washington University University of Texas, Austin

University of Illinois at Urbana-Champaign University of North Carolina, Chapel Hill Sungkyunkwan University

Cornell University Stanford University

University of Texas, Austin University of Wisconsin, Madison

IESE Business School, Barcelona Campus University of LUISS (Rome)

INSEAD Purdue University University of North Carolina, Chapel Hill University of Pittsburgh University of South Carolina University of Texas, Austin

George Washington University University of North Carolina, Chapel Hill University of Washington, Bothell

Georgia State University Moscow School of Management, SKLOKOVO Institute for Emerging Market Studies Nanyang Business School Rutgers University

George Washington University Harvard University INSEAD University of Maryland, Smith School of Business University of Minnesota, Carlson School Washington University, St. Louis

New York University University of Hartford

Instituto De Empresa University of Michigan

Brigham Young University Florida International University National University of Singapore New York Department of Economics University of Illinois-Urbana Champaign

Visit here for Marketing PhD placements. 

Operations, Information and Decisions

Visit here for Operations, Information and Decisions PhD placements. 

University of Florida Carnegie Mellon University Columbia University Rutgers University

Massachusetts Institute of Technology The Voleon Group

University of Chicago, Booth School of Business University of California, Berkeley Emory University Rutgers University Citadel Air Liquide

INSEAD Massachusetts Institute of Technology, Sloan School of Management University of Vienna DV01

CLVmetrics IBM Stanford University

Carnegie Mellon University Columbia University Queens College Rice University Walmart Labs

Columbia University New Jersey Institute of Technology Yahoo Labs

The Climate Corporation Credit Suisse Rutgers University University of North Carolina, Chapel Hill

Krossover Intelligence Stanford University

Northwestern University US Census Bureau

Harvard University Princeton University University of Pennsylvania

London School of Economics Massachusetts Institute of Technology

Colombia University, Earth Institute (Post-Doc)

Yale University

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Department of Economics

Economics is a broad field that aims to understand why the world works as it does and how government and other interventions might affect well-being. The field is diverse methodologically, encompassing mathematical modeling, data science, and randomized trials as appropriate. It interacts both with other social sciences, as with political science and psychology in the attempt to better understand government and individual behavior, and with the sciences, as with statistics and computer science in developing data analysis techniques.

Economics studies decision-making at the individual level and the aggregate outcomes that result when individuals, firms, institutions and governments interact. It remains concerned with classic topics, such as the causes of business cycles, the effects of industry regulations, and the consequences of tax policies, but also focuses on the diverse social challenges of the developed and developing world: poverty, education, health, the environment, and inequality.  

The Department of Economics offers subjects at multiple levels in the three core areas of the discipline—microeconomic theory, macroeconomics, and econometrics—and specialized subjects in many applied fields, including development economics, environmental economics, health economics, industrial organization, international trade, labor economics, political economy, and public finance.

The department offers several undergraduate programs that prepare students for careers in business, finance, consulting, law and public policy, and for further study. Its doctoral program is frequently ranked as the best in the world.

Bachelor of Science in Economics (Course 14-1)

Bachelor of science in mathematical economics (course 14-2), bachelor of science in computer science, economics, and data science (course 6-14), minor in economics, undergraduate study.

Course 14-1, leading to the Bachelor of Science in Economics , provides students with a breadth and depth of training in economics that is unusual at the undergraduate level. It combines training in technical economics with in-depth exploration of students’ areas of interest. Students choose from a diverse set of upper-level undergraduate subjects and are encouraged to engage in independent research.

The aims of the SB in Economics degree program are threefold: to give students a firm grounding in economic theory and data analysis, to develop in-depth knowledge of particular economic issues, and to develop students’ capabilities for independent research. These aims correspond roughly to the requirements in the Course 14-1 program of theory, statistics and econometrics, electives, and research.

The requirements allow substantial freedom for students in designing individual programs within economics and in balancing the program with subjects in other disciplines. The ample elective slots let students apply their technical skills to develop a deep understanding of whatever interests them, whether that is poverty in developing countries, international trade, game theory, for example. The department recommends that students interested in graduate work in economics build their technical skills with additional subjects in mathematics and computer science. Students can also complement their studies in the major with subjects in political science, history, and other social sciences.

The major is sufficiently flexible that students can transfer into the major or add it as a second major without having taken courses beyond 14.01 Principles of Microeconomics and 14.02 Principles of Macroeconomics in the first two years.  Students typically complete an intermediate micro subject,  14.05 Intermediate Macroeconomics , 14.30 Introduction to Statistical Methods in Economics , and 14.32 Econometric Data Science by the third year. This satisfies the prerequisites for all subjects (including 14.33 Research and Communication in Economics: Topics, Methods, and Implementation ) and prepares students for research on their thesis and in other elective subjects.

The SB in Mathematical Economics is designed for students who desire a deeper mathematical foundation and allows them to concentrate in a subset of economics topics. This program is well suited to students interested in mathematical microeconomic theory or econometrics.  Students will gain the strong mathematical and theoretical preparation needed for subsequent graduate study in economics.

Students majoring in Mathematical Economics start with the same introductory micro and macro courses as 14-1 majors. They go on to take a program that includes rigorous mathematical training in microeconomic theory and econometrics, and substantial coursework in mathematics, including 18.100x Real Analysis, a choice between 18.06 Linear Algebra or 18.03 Differential Equations , and at least one mathematics seminar.

The Department of Electrical Engineering and Computer Science and the Department of Economics offer a joint curriculum leading to a  Bachelor of Science in Computer Science, Economics and Data Science (Course 6-14) . The interdisciplinary major provides  students a  portfolio  of  skills in economics,  computing,  and  data  science that are increasingly valued in both the business world and academia.   The economics and computer science disciplines have a substantial overlap both in their reliance on game theory and mathematical modeling techniques and their use of data analytics.   The economics side of the program includes subjects in microeconomic theory and econometrics and electives that expose students to how economists in various fields use mathematical models and statistical evidence to think about problems.   The computer science side includes a number of subjects that develop complementary knowledge, including the study of algorithms, optimization, and machine learning (which is increasingly integrated with econometrics).   The program also includes coursework in several mathematical subjects, including linear algebra, probability, discrete mathematics, and statistics, which can be taken in various departments.  

The Course 6-14 major is also well suited to students whose primary interest is in game theory and mathematical modeling.   It can prepare students for graduate study in either discipline.

The objective of the minor is to extend the understanding of economic issues beyond the level of the concentration. This is done through specialized analytical subjects and elective subjects that provide an extensive treatment of economic issues in particular areas.

The Minor in Economics consists of six subjects arranged into three levels of study:

For more information regarding admissions or financial aid , contact Julia Martyn-Shah, 617-253-8787. For undergraduate admissions and academic programs , contact Gary King, 617-253-0951. For any other information, contact Megan Miller,  617-253-3807.

Master of Science in Economics

Master of applied science in data, economics, and design of policy, master of engineering in computer science, economics, and data science.

Doctor of Philosophy in Economics

Graduate Study

Admission requirements for graduate study.

The Department of Economics specifies the following prerequisites for graduate study in economics: one full year of college mathematics and an appreciable number of professional subjects in economics for those qualified students who have majored in fields other than economics. Applicants for admission who have deficiencies in entrance requirements should consult with the department about programs to remedy such deficits.

In unusual circumstances, admission may be granted to current MIT students seeking the Master of Science degree. The general requirements for the SM are given in the section on Graduate Education.

The Master of Applied Science in Data, Economics, and Design of Policy is an intensive program consisting of a series of nine subjects plus a capstone experience (a summer internship and a corresponding project report). Students gain a strong foundation in microeconomics, development economics, probability, and statistics; engage with cutting-edge research; and develop practical skills in data analysis and the evaluation of social programs. Student choose between two tracks: International Development (focused on low- and middle-income contexts) and Public Policy (focused on high-income contexts). Only students who have successfully completed the MITx MicroMasters credential in Data, Economics, and Design of Policy in the corresponding track are eligible to apply to the on-campus master’s program.

Email for more information or visit the website .

The Department of Electrical Engineering and Computer Science and the Department of Economics offer a joint curriculum leading to a Master of Engineering in Computer Science, Economics, and Data Science . Computer science and data science provide tools for problem solving, and economics applies those tools to domains where there is rapidly growing intellectual, scholarly, and commercial interest, such as online markets, crowdsourcing platforms, spectrum auctions, financial platforms, crypto currencies, and large-scale matching/allocation systems such as kidney donation and public school choice systems. This joint program prepares students for jobs in economics, management consulting, and finance. Students in the program are full members of both departments, with a single advisor chosen from EECS or Economics based on interests of the student as well as the advisor's interest and expertise in the 6-14 area.

The Master's of Engineering in Computer Science, Economics, and Data Science (Course 6-14P) builds on the foundation provided by the Bachelor of Science in Computer Science, Economics, and Data Science (Course 6-14) to provide both advanced classwork and master's-level thesis work. The student selects (with departmental review and approval) 42 units of advanced graduate subjects, which include two subjects in economics and two subjects in electrical engineering and computer science. A further 24 units of electives are chosen from a restricted departmental list of math electives.

The Master of Engineering degree also requires 24 units of thesis credit. While a student may register for more than this number of thesis units, only 24 units count toward the degree requirement.

Programs leading to the five-year Master of Engineering degree or to the four-year Bachelor of Science degree can be arranged to be identical through the junior year. At the end of the junior year, students with a strong academic record will be offered the opportunity to continue through the five-year master's program. A student in the Master of Engineering program must be registered as a graduate student for at least one regular (non-summer) term. To remain in the program and to receive the Master of Engineering degree, students will be expected to maintain a strong academic record. Admission to the Master of Engineering program is open only to undergraduate students who have completed their junior year in the Course 6-14 Bachelor of Science program.

Financial Support

The fifth year of study toward the Master of Engineering degree can be supported by a combination of personal funds, a fellowship, or a graduate assistantship. Assistantships require participation in research or teaching in the department or in one of the associated laboratories. Full-time assistants may register for no more than two scheduled classroom or laboratory subjects during the term, but may receive academic credit for their participation in the teaching or research program. Support through an assistantship may extend the period required to complete the Master of Engineering program by an additional term or two. Support is granted competitively to graduate students and will not be available for all of those admitted to the Master of Engineering program. If provided, department support for Master of Engineering candidates is normally limited to the first three terms as a graduate student unless the Master of Engineering thesis has been completed, the student has served as a teaching assistant, or the student has been admitted to the doctoral program, in which cases a fourth term of support may be permitted.

For additional information regarding teaching and research programs, contact the EECS Undergraduate Office, Room 38-476, 617-253-4654, or visit the department's website .

Doctor of Philosophy

The Department of Economics offers a Doctor of Philosophy (PhD) in Economics . Students in the doctoral program complete a course of study involving a series of required core subjects in microeconomic theory, macroeconomics, and econometrics; coursework (with a grade of B or better) in two major and two minor fields of study from among those offered by the department; a research paper; and a thesis. The coursework and research paper, completed in the program's first two years, culminate in a general examination. The four fields of study are chosen from advanced economic theory; computation and statistics (minor field only); econometrics; economic development; finance; industrial organization; international economics; labor economics; monetary economics; organizational economics; political economy; and public economics.

Following successful completion of the general examination requirement, the student forms a thesis committee of two or three faculty members. The thesis must meet high professional standards and make a significant original contribution to the student’s chosen research area. The thesis must be approved by the thesis committee and then by an independent faculty member in the department selected by the chair of the Graduate Committee. Upon successful completion of the program, students are awarded the PhD in economics.

There is no required minimum number of graduate subjects in the department. Students must be in residence for a minimum of two years. However, candidates ordinarily need two full academic years of study to complete the core and field of study requirements, and the doctoral thesis typically requires three to four years of additional research effort.

Interdisciplinary Program

Economics and statistics.

The Interdisciplinary Doctoral Program in Statistics provides training in statistics, including classical statistics and probability as well as computation and data analysis, to students who wish to integrate these valuable skills into their primary academic program. The program is administered jointly by the departments of Aeronautics and Astronautics, Economics, Mathematics, Mechanical Engineering, Physics, and Political Science, and the Statistics and Data Science Center within the Institute for Data, Systems, and Society. It is open to current doctoral students in participating departments. For more information, including department-specific requirements, see the full program description under Interdisciplinary Graduate Programs.

Many doctoral students are supported by scholarship and fellowship grants, as well as by teaching and research assistantships.

For more information regarding admissions or financial aid , contact Julia Martyn-Shah, 617-253-8787. For undergraduate admissions and academic programs , contact Gary King, 617-253-0951. For any other information , contact Megan Miller,  617-253-3807.

Faculty and Teaching Staff

Jonathan Gruber, PhD

Ford Professor

Professor of Economics

Head, Department of Economics

David Atkin, PhD

Barton L. Weller (1940) Professor

Associate Head, Department of Economics

Alberto Abadie, PhD

Member, Institute for Data, Systems, and Society

Daron Acemoglu, PhD

Institute Professor

Nikhil Agarwal, PhD

(On leave, fall)

Isaiah Andrews, PhD

Charles E. and Susan T. Harris Professor

Joshua Angrist, PhD

David H. Autor, PhD

Daniel (1972) and Gail Rubenfeld Professor

Abhijit Banerjee, PhD

Ford International Professor

Ricardo J. Caballero, PhD

Victor V. Chernozhukov, PhD

Arnaud Costinot, PhD

David J. Donaldson, PhD

Class of 1949 Professor

Esther Duflo, PhD

Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics

Glenn Ellison, PhD

Gregory K. Palm (1970) Professor

Amy Finkelstein, PhD

John and Jennie S. MacDonald Professor

Drew Fudenberg, PhD

Paul A. Samuelson Professor

Robert S. Gibbons, PhD

Sloan Distinguished Professor of Management

Professor of Applied Economics

Nathaniel Hendren, PhD

Anna Mikusheva, PhD

Edward A. Abdun-Nur (1924) Professor

Stephen Morris, PhD

Peter A. Diamond Professor

Sendhil Mullainathan, PhD

Peter de Florez Professor

Professor of Electrical Engineering and Computer Science

Whitney K. Newey, PhD

Benjamin A. Olken, PhD

Jane Berkowitz Carlton and Dennis William Carlton Professor

Parag Pathak, PhD

Class of 1922 Professor

James M. Poterba, PhD

Mitsui Professor

Drazen Prelec, PhD

Digital Equipment Corp. Leaders for Global Operations Professor of Management

Professor of Management Science

Professor of Brain and Cognitive Sciences

Nancy L. Rose, PhD

Charles P. Kindleberger Professor of Applied Economics

Robert Townsend, PhD

Elizabeth and James Killian (1926) Professor

Ivan Werning, PhD

Robert M. Solow Professor

Michael Whinston, PhD

Society of Sloan Fellows Professor of Management

Alexander Greenberg Wolitzky, PhD

Muhamet Yildiz, PhD

Associate Professors

Martin Beraja, PhD

Pentti Kouri Career Development Professor

Associate Professor of Economics

(On leave, spring)

Simon Jaeger, PhD

Silverman (1968) Family Career Development Professor

Tobias Salz, PhD

Castle Krob Career Development Professor

Frank Schilbach, PhD

Assistant Professors

Ian Ball, PhD

Gary Loveman Career Development Professor

Assistant Professor of Economics

Jacob Moscona, PhD

3M Career Development Assistant Professor of Environmental Economics

Ashesh Rambachan, PhD

Nina Roussille, PhD

Lister Brothers Career Development Professor

Christian Wolf, PhD

Rudi Dornbusch Career Development Professor

Visiting Assistant Professors

Bradley Setzler, PhD

Visiting Assistant Professor of Economics

Senior Lecturers

Sara F. Ellison, PhD

Senior Lecturer in Economics

Professors Emeriti

Olivier Jean Blanchard, PhD

Robert M. Solow Professor Emeritus

Professor Emeritus of Economics

Peter A. Diamond, PhD

Institute Professor Emeritus

Stanley Fischer, PhD

Jeffrey E. Harris, MD, PhD

Jerry A. Hausman, PhD

John and Jennie S. MacDonald Professor Emeritus

Bengt Holmström, PhD

Paul A. Samuelson Professor Emeritus

Professor Emeritus of Applied Economics

Paul L. Joskow, PhD

Elizabeth and James Killian Professor Emeritus

Michael J. Piore, PhD

David W. Skinner Professor Emeritus

Professor Emeritus of Political Economy

Professor Emeritus of Political Science

Richard Schmalensee, PhD

Howard W. Johnson Professor Emeritus

Professor Emeritus of Management

Peter Temin, PhD

Elisha Gray II Professor Emeritus

William C. Wheaton, PhD

Professor Emeritus of Urban Studies and Planning

General Economics and Theory

14.00 undergraduate internship in economics.

Prereq: Permission of instructor U (IAP, Summer) Units arranged [P/D/F] Can be repeated for credit.

For Course 14 students participating in off-campus internship experiences in economics. Before registering for this subject, students must have an employment offer from a company or organization and must identify a Course 14 advisor. Upon completion of the internship, student must submit a letter from the employer describing the work accomplished, along with a substantive final report from the student approved by the MIT advisor. Subject to departmental approval. Consult departmental undergraduate office.

Consult D. Donaldson

14.000 Graduate Internship in Economics

Prereq: Permission of instructor G (IAP, Summer) Units arranged [P/D/F] Can be repeated for credit.

For Course 14 students participating in off-campus internship experiences in economics. Before registering for this subject, students must have an employment offer from a company or organization and must identify a Course 14 advisor. Upon completion of the internship, student must submit a letter from the employer describing the work accomplished, along with a substantive final report from the student approved by the MIT advisor. Subject to departmental approval. Consult departmental graduate office.

Consult I. Andrews

14.001 Data Economics and Development Policy Summer Internship

Prereq: Permission of department G (Fall, Spring, Summer) 0-1-0 units

Provides students in the DEDP Master's program the opportunity to synthesize their coursework and professional experience in development economics and data analysis. In the context of a summer internship, students apply the knowledge gained in the program towards a project with a host organization, typically in the development sector. Students will be supported in finding a suitable opportunity or research project. All internship placements are subject to approval by the program director. Each student must write a capstone project report. Restricted to DEDP MASc students.

14.003 Microeconomic Theory and Public Policy

Subject meets with 14.03 Prereq: 14.01 or permission of instructor G (Fall, Spring) 4-0-8 units

Students master and apply economic theory, causal inference, and contemporary evidence to analyze policy challenges. These include the effect of minimum wages on employment, the value of healthcare, the power and limitations of free markets, the benefits and costs of international trade, the causes and remedies of externalities, the consequences of adverse selection in insurance markets, the impacts of labor market discrimination, and the application of machine learning to supplement to decision-making. Class attendance and participation are mandatory. Students taking graduate version complete additional assignments.

Consult D. Autor, S. Jaeger

14.009 Economics and Society's Toughest Problems

Prereq: None Acad Year 2024-2025: Not offered Acad Year 2025-2026: U (Fall) 1-0-2 units

Should we trade more or less with China? Why are some countries poor, and some countries rich? Why are the 1% getting richer? Should the US have a universal basic income? Why is our society becoming so polarized? What can we do to mitigate climate change? Will robots take all the jobs? Why does racism persist and how can we fight it? What will the world economy look like after the COVID-19 recession? Economics shows you how to think about some of the toughest problems facing society — and how to use data to get answers. Features lectures by MIT's economics faculty, showing how their cutting-edge research can help answer these questions. In lieu of problem sets, quizzes, or other written assignments, students produce materials of their choice (podcasts, TikToks, longer videos) with the view to make a potential audience excited about economics. Subject can count toward the 6-unit discovery-focused credit limit for first-year students.

14.01 Principles of Microeconomics

Prereq: None U (Fall, Spring) 3-0-9 units. HASS-S

Introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Applications to problems of current economic policy.

Consult N. Agarwal, D. Donaldson, S. Ellison, J. Gruber

14.02 Principles of Macroeconomics

Provides an overview of macroeconomic issues including the determination of national income, economic growth, unemployment, inflation, interest rates, and exchange rates. Introduces basic macroeconomic models and illustrates key principles through applications to the experience of the US and other economies. Explores a range of current policy debates, such as the economic effects of monetary and fiscal policy, the causes and consequences of the 2008 global financial crisis, and the factors that influence long-term growth in living standards. Lectures are recorded and available for students with scheduling conflicts.

M. Beraja, R. Caballero, J. Poterba

14.03 Microeconomic Theory and Public Policy

Subject meets with 14.003 Prereq: 14.01 or permission of instructor U (Fall, Spring) 4-0-8 units. HASS-S

14.04 Intermediate Microeconomic Theory

Prereq: Calculus II (GIR) and 14.01 U (Fall) 4-0-8 units. HASS-S

Analysis of consumer and producer decisions including analysis of competitive and monopolistic markets. Price-based partial and general equilibrium analysis. Introduction to game theory as a foundation for the strategic analysis of economic situations. Imperfect competition, dynamic games among firms. Failures of general equilibrium theory and their resolutions: externalities, public goods, incomplete information settings, signaling, screening, insurance, alternative market mechanisms, auctions, design of markets.

14.05 Intermediate Macroeconomics

Prereq: 14.01 and ( 14.02 or permission of instructor) U (Fall) 4-0-8 units. HASS-S

Uses the tools of macroeconomics to investigate various macroeconomic issues in depth. Topics range from economic growth and inequality in the long run to economic stability and financial crises in the short run. Surveys many economic models used today. Requires a substantial research paper on the economics of long-run economic growth.

14.06 Advanced Macroeconomics

Prereq: 14.01 and 14.02 U (Fall) Not offered regularly; consult department 4-0-8 units. HASS-S

Blends a thorough study of the theoretical foundations of modern macroeconomics with a review of useful mathematical tools, such as dynamic programming, optimal control, and dynamic systems. Develops comfort with formal macroeconomic reasoning and deepens understanding of key macroeconomic phenomena, such as business cycles. Goes on to study more specific topics, such as unemployment, financial crises, and the role of fiscal and monetary policy. Special attention to reviewing relevant facts and disentangling them from their popular interpretations. Uses insights and tools from game theory. Includes applications to recent and historical events.

Consult Department Headquarters

14.08 Technical Topics in Economics

Prereq: 14.01 U (Fall, Spring) 4-0-8 units Can be repeated for credit.

Considers technical issues of current research interest in economics.

14.09 Reading Seminar in Economics

Prereq: 14.04 and 14.06 U (Fall, IAP, Spring, Summer) Units arranged [P/D/F] Can be repeated for credit.

Reading and discussion of particular topics in economics. Open to undergraduate students by arrangement with individual faculty members. Consult Department Headquarters.

D. Donaldson

14.10 Reading Seminar in Economics

Prereq: 14.04 and 14.06 U (Fall, IAP, Spring, Summer) Units arranged Can be repeated for credit.

14.11 Topics in Economics

Prereq: 14.01 U (Fall) Not offered regularly; consult department 4-0-8 units. HASS-S Can be repeated for credit.

Considers issues of current research interest in economics.

14.12 Economic Applications of Game Theory

Prereq: 14.01 and (6.041B, 14.04 , 14.30 , 18.05 , or permission of instructor) U (Fall) 4-0-8 units. HASS-S

Analysis of strategic behavior in multi-person economic settings. Introduction to solution concepts, such as rationalizability, backwards induction, Nash equilibrium, subgame-perfect equilibrium, and sequential equilibrium. Strong emphasis on dynamic games, such as repeated games. Introduction to Bayesian games, focusing on Bayesian Nash Equilibrium, Perfect Bayesian Equilibrium, and signaling games. Applications drawn from microeconomics: imperfect competition, implicit cartels, bargaining, and auctions.

14.121 Microeconomic Theory I

Prereq: 14.04 and permission of instructor G (Fall; first half of term) 3-0-3 units

Covers consumer and producer theory, markets and competition, general equilibrium and the welfare theorems; featuring applications, uncertainty, identification and restrictions models place on data. Enrollment limited; preference to PhD students.

14.122 Microeconomic Theory II

Prereq: 14.121 and permission of instructor G (Fall; second half of term) 3-0-3 units

Introduction to game theory. Topics include normal form and extensive form games, and games with incomplete information. Enrollment limited.

14.123 Microeconomic Theory III

Prereq: 14.121 , 14.122 , and permission of instructor G (Spring; first half of term) 3-0-3 units

Models of individual decision-making under certainty and uncertainty. Additional topics in game theory. Enrollment limited.

D. Fudenberg

14.124 Microeconomic Theory IV

Prereq: 14.123 or permission of instructor G (Spring; second half of term) 3-0-3 units

Introduction to statistical decision theory, incentive contracting (moral hazard and adverse selection), mechanism design and incomplete contracting. Enrollment limited.

A. Wolitzky

14.125 Market Design

Prereq: 14.124 G (Spring) 4-0-8 units

Theory and practice of market design, building on ideas from microeconomics, game theory and mechanism design. Prominent case studies include auctions, labor markets, school choice, prediction markets, financial markets, and organ exchange clearinghouses.

N. Agarwal, P. Pathak

14.126 Game Theory

Prereq: 14.122 G (Spring) 3-0-9 units

Investigates equilibrium and non-equilibrium solution concepts and their foundations as the result of learning or evolution. Studies the equilibria of supermodular games, global games, repeated games, signaling games, and models of bargaining, cheap talk, and reputation.

D. Fudenberg, A. Wolitzky, M. Yildiz

14.127 Advanced Game Theory

Prereq: None G (Fall) 4-0-8 units

For students who plan to do game theory research. Covers the following topics: epistemic foundations of game theory, higher order beliefs, the role and status of common prior assumptions, social networks and social learning, repeated and stochastic games, non-equilibrium learning, stochastic stability and evolutionary dynamics, game theory experiments, and behavioral game theory.

D. Fudenberg, M. Yildiz

14.129 Advanced Contract Theory

Prereq: 14.121 , 14.281 , or permission of instructor G (Spring; first half of term) 3-0-3 units

Presents the contract theory, mechanism design, and general equilibrium theory necessary for an understanding of  a variety of recent innovations: crypto currencies, digital assets; intermediation through digital big techs; central bank digital currency; and decentralized finance (DeFi) versus centralized exchange and contract platforms. Three broad themes: 1) Take stock of new technologies' characteristic features (distributed ledgers and blockchain, e-transfers, smart contacts, and encryption); 2) Translate these features into formal language;  3) Inform normative questions: Should we delegate programmable contacts to the private sector and the role of public authorities. 

Consult R. Townsend

14.13 Psychology and Economics

Subject meets with 14.131 Prereq: 14.01 U (Spring) 4-0-8 units. HASS-S

Introduces the theoretical and empirical literature of behavioral economics. Examines important and systematic departures from the standard models in economics by incorporating insights from psychology and other social sciences. Covers theory and evidence on time, risk, and social preferences; beliefs and learning; emotions; limited attention; and frames, defaults, and nudges. Studies applications to many different areas, such as credit card debt, procrastination, retirement savings, addiction, portfolio choice, poverty, labor supply, happiness, and government policy. Students participate in surveys and experiments in class, review evidence from lab experiments, examine how the results can be integrated into models, and test models using field and lab data. Students taking graduate version complete additional assignments.

F. Schilbach

14.130 Reading Economic Theory

Prereq: 14.121 and 14.451 G (Fall) 2-0-10 units Can be repeated for credit.

Class will read and discuss current research in economic theory with a focus on game theory, decision theory, and behavioral economics. Students will be expected to make one presentation and to read and post comments on every paper by the day before the paper is presented. Permission of the instructor required, and auditors are not allowed.

14.131 Psychology and Economics

Subject meets with 14.13 Prereq: 14.01 G (Spring) 4-0-8 units

Introduces the theoretical and empirical literature of behavioral economics. Examines important and systematic departures from the standard models in economics by incorporating insights from psychology and other social sciences. Covers theory and evidence on time, risk, and social preferences; beliefs and learning; emotions; limited attention; and frames, defaults, and nudges. Studies applications to many different areas, such as credit card debt, procrastination, retirement savings, addiction, portfolio choice, poverty, labor supply, happiness, and government policy. Students participate in surveys and experiments in class, review evidence from lab experiments, examine how the results can be integrated into models, and test models using field and lab data.  Students taking graduate version complete additional assignments.

14.137[J] Psychology and Economics

Same subject as 9.822[J] Prereq: None G (Spring) 4-0-8 units

Examines "psychology appreciation" for economics students. Aims to enhance knowledge and intuition about psychological processes in areas relevant to economics. Increases understanding of psychology as an experimental discipline, with its own distinct rules and style of argument. Topics include self-knowledge, cognitive dissonance, self-deception, emotions, social norms, self-control, learning, mental accounting, memory, individual and group behavior, and some personality and psycho-analytic models. Within each of these topics, we showcase effective and central experiments and discuss their role in the development of psychological theory. Term paper required.

14.147 Topics in Game Theory

Prereq: 14.126 Acad Year 2024-2025: Not offered Acad Year 2025-2026: G (Fall) 4-0-8 units

Advanced subject on topics of current research interest.

14.15[J] Networks

Same subject as 6.3260[J] Subject meets with 14.150 Prereq: 6.3700 or 14.30 U (Spring) 4-0-8 units. HASS-S

Highlights common principles that permeate the functioning of diverse technological, economic and social networks. Utilizes three sets of tools for analyzing networks -- random graph models, optimization, and game theory -- to study informational and learning cascades; economic and financial networks; social influence networks; formation of social groups; communication networks and the Internet; consensus and gossiping; spread and control of epidemics; control and use of energy networks; and biological networks. Students taking graduate version complete additional assignments.

14.150 Networks

Subject meets with 6.3260[J] , 14.15[J] Prereq: 6.3700 or 14.300 G (Spring) 4-0-8 units

14.16 Strategy and Information

Subject meets with 14.161 Prereq: 14.01 or permission of instructor U (Spring) 4-0-8 units. HASS-S

Covers modern applications of game theory where incomplete information plays an important role. Applications include bargaining, auctions, global games, market design, information design, and network economics. Students taking graduate version complete additional assignments.

14.160 Behavioral Economics

Prereq: 14.122 G (Spring) 4-0-8 units

Covers recent theory and empirical evidence in behavioral economics. Topics include deviations from the neoclassical model in terms of (i) preferences (present bias, reference dependence, social preferences), (ii) beliefs (overconfidence, projection bias), and (iii) decision-making (cognition, attention, framing, persuasion), as well as (iv) market reactions to such deviations. Applications will cover a large range of fields, including labor and public economics, industrial organization, health economics, finance, and development economics.

A. Banerjee,  F. Schilbach

14.161 Strategy and Information

Subject meets with 14.16 Prereq: 14.01 or permission of instructor G (Spring) 4-0-8 units

14.163 Algorithms and Behavioral Science

Prereq: ( 14.122 and 14.381 ) or permission of instructor G (Spring) 4-0-8 units

Examines algorithms and their interaction with human cognition.  Provides an overview of supervised learning as it relates to econometrics and economic applications. Discusses using algorithms to better understand people, using algorithms to improve human judgment, and using understanding of humans to better design algorithms.  Prepares economics PhD students to conduct research in the field.

S. Mullainathan, A. Rambachan

14.18 Mathematical Economic Modeling

Prereq: 14.04 , 14.12 , 14.15[J] , or 14.19 U (Spring) 4-0-8 units. HASS-S

Guides students through the process of developing and analyzing formal economic models and effectively communicating their results. Topics include decision theory, game theory, voting, and matching. Instruction and practice in oral and written communication provided. Prior coursework in microeconomic theory and/or proof-based mathematics required. Limited to 18 students.

14.19 Market Design

Prereq: 14.01 U (Fall) 4-0-8 units. HASS-S

Covers the design and operation of organized markets, building on ideas from microeconomic and game theory. Topics may include mechanism design, auctions, matching markets, and other resource allocation problems.

14.191 Independent Research Paper

Prereq: Permission of instructor G (Fall, IAP, Spring, Summer) 0-12-0 units Can be repeated for credit.

Under guidance from a faculty member approved by Graduate Registration Officer, student writes a substantial, probably publishable research paper. Must be completed by the end of a student's second year to satisfy the departmental minor requirement.

14.192 Advanced Research and Communication

Prereq: 14.124 , 14.382 , and 14.454 G (Fall, IAP, Spring) 2-4-6 units Can be repeated for credit.

Guides second-year Economics PhD students through the process of conducting and communicating economic research. Students choose topics for research projects, develop research strategies, carry out analyses, and write and present research papers. Limited to second year Economics PhD students.

14.193 Advanced Seminar in Economics

Prereq: 14.121 and 14.451 G (Fall, Spring, Summer; first half of term) Units arranged Can be repeated for credit.

Reading and discussion of current topics in economics. Open to advanced graduate students by arrangement with individual members of the staff.

Consult Department headquarters

14.195 Reading Seminar in Economics

Prereq: 14.121 G (Fall, Spring, Summer) Units arranged [P/D/F] Can be repeated for credit.

14.197 Independent Research

Prereq: None G (Fall, IAP, Spring, Summer) Units arranged [P/D/F] Can be repeated for credit.

Under guidance from a faculty member approved by Graduate Registration Officer, student conducts independent research.

14.198, 14.199 Teaching Introductory Economics

Prereq: None G (Fall, Spring) 2-0-2 units Can be repeated for credit.

Required of teaching assistants in introductory economics ( 14.01 and 14.02 ), under guidance from the faculty member in charge of the subject.

14.198: N. Agarwal, D. Donaldson 14.199: M. Beraja, R. Caballero

14.281 Contract Economics

Prereq: 14.124 or permission of instructor G (Fall) 4-0-8 units

Covers theoretical research on contracts in static as well as dynamic settings. Topics include agency theory, mechanism design, incomplete contracting, information design and costly information acquisition. 

I. Ball, S. Morris

Industrial Organization

14.20 industrial organization: competitive strategy and public policy.

Subject meets with 14.200 Prereq: 14.01 U (Spring) 4-0-8 units. HASS-S

Analyzes the current debate over the rise of monopolies, the strategic behavior and performance of firms in imperfectly competitive markets, and the role of competition policy. Topics include monopoly power; pricing, product choice, and innovation decisions by firms in oligopoly markets; static and dynamic measurement of market performance; and incentives in organizations. Requires regular participation in class discussion and teamwork in a competitive strategy game. Students taking graduate version complete additional assignments.

14.200 Industrial Organization: Competitive Strategy and Public Policy

Subject meets with 14.20 Prereq: 14.01 G (Spring) 4-0-8 units

14.27 Economics and E-Commerce

Subject meets with 14.270 Prereq: 14.01 and ( 6.3700 or 14.30 ) U (Spring) 4-0-8 units. HASS-S

Uses theoretical economic models and empirical evidence to help understand the growth and future of e-commerce. Economic models help frame class discussions of, among other topics, content provision, privacy, piracy, sales taxation, group purchasing, price search, and advertising on the internet. Empirical project and paper required. Students taking graduate version complete additional assignments.

14.270 Economics and E-Commerce

Subject meets with 14.27 Prereq: 14.01 and ( 6.3700 or 14.30 ) G (Spring) 4-0-8 units

14.271 Industrial Organization I

Prereq: None. Coreq: 14.122 and 14.381 G (Fall) 5-0-7 units

Covers theoretical and empirical work dealing with the structure, behavior, and performance of firms and markets and core issues in antitrust. Topics include: the organization of the firm, monopoly, price discrimination, oligopoly, and auctions. Theoretical and empirical work are integrated in each area.

14.272 Industrial Organization II

Prereq: 14.271 G (Spring) 5-0-7 units

Continuation of 14.271 . Focuses on government interventions in monopoly and oligopoly markets, and addresses both competition and regulatory policy. Topics include horizontal merger policy and demand estimation, vertical integration and vertical restraints, and the theory and practice of economic regulation. Applications include the political economy of regulation; the performance of economic regulation; deregulation in sectors including electric power, transportation, and financial services; and pharmaceutical and environmental regulation in imperfectly competitive product markets.

N. Rose, M. Whinston

14.273 Advanced Topics in Industrial Organization

Empirical analysis of theoretically derived models of market behavior. Varied topics include demand estimation, differentiated products, production functions, analysis of market power, entry and exit, vertical relationships, auctions, matching markets, network externalities, dynamic oligopoly, moral hazard and adverse selection. Discussion will focus on methodological issues, including identification, estimation, counter-factual analysis and simulation techniques.

N. Agarwal, T. Salz

Organizational Economics

14.26[j] organizational economics.

Same subject as 15.039[J] Subject meets with 14.260 Prereq: 14.01 Acad Year 2024-2025: Not offered Acad Year 2025-2026: U (Spring) 4-0-8 units. HASS-S

Provides a rigorous, but not overly technical introduction to the economic theory of organization together with a varying set of applications. Addresses incentives, control, relationships, decision processes, and organizational culture and performance. Introduces selected fundamentals of game theory. Students taking graduate version complete additional assignments. Limited to 60.

C. Angelucci

14.260 Organizational Economics

Subject meets with 14.26[J] , 15.039[J] Prereq: None Acad Year 2024-2025: Not offered Acad Year 2025-2026: G (Spring) 4-0-8 units

14.282 Introduction to Organizational Economics

Prereq: 14.124 G (Fall) 5-0-7 units

Begins with survey of contract theory for organizational economists, then introduces the main areas of the field, including the boundary of the firm; decision-making, employment, structures and processes in organizations; and organizations other than firms.

C. Angelucci, R. Gibbons, N. Kala

14.283 Advanced Topics in Organizational Economics I

Prereq: 14.282 G (Spring; first half of term) 2-0-4 units

Builds on the work done in 14.282 to develop more in-depth analysis of topics in the field.

14.284 Advanced Topics in Organizational Economics II

Prereq: 14.282 G (Spring; second half of term) 2-0-4 units

Statistics and Econometrics

14.30 introduction to statistical methods in economics.

Subject meets with 14.300 Prereq: Calculus II (GIR) U (Fall) 4-0-8 units. REST

Self-contained introduction to probability and statistics with applications in economics and the social sciences.  Covers elements of probability theory, statistical estimation and inference, regression analysis, causal inference, and program evaluation. Couples methods with applications and with assignments involving data analysis. Uses basic calculus and matrix algebra.  Students taking graduate version complete additional assignments. May not count toward HASS requirement.

14.300 Introduction to Statistical Methods in Economics

Subject meets with 14.30 Prereq: Calculus II (GIR) G (Fall) 4-0-8 units

Self-contained introduction to probability and statistics with applications in economics and the social sciences. Covers elements of probability theory, statistical estimation and inference, regression analysis, causal inference, and program evaluation. Couples methods with applications and with assignments involving data analysis. Uses basic calculus and matrix algebra. Students taking graduate version complete additional assignments.

14.310 Data Analysis for Social Scientists

Prereq: None G (Spring) Not offered regularly; consult department 4-0-8 units

Introduces methods for harnessing data to answer questions of cultural, social, economic, and policy interest. Presents essential notions of probability and statistics. Covers techniques in modern data analysis: regression and econometrics, prediction, design of experiment, randomized control trials (and A/B testing), machine learning, data visualization, analysis of network data, and geographic information systems. Projects include analysis of data with a written description and interpretation of results; may involve gathering of original data or use of existing data sets. Applications drawn from real world examples and frontier research. Instruction in use of the statistical package R. Students taking graduate version complete additional assignments.

Consult E. Duflo

14.32 Econometric Data Science

Subject meets with 14.320 Prereq: 14.30 or 18.650[J] U (Fall, Spring) 4-4-4 units. Institute LAB

Introduces regression and other tools for causal inference and descriptive analysis in empirical economics. Topics include analysis of randomized experiments, instrumental variables methods and regression discontinuity designs, differences-in-differences estimation, and regression with time series data. Develops the skills needed to conduct — and critique — empirical studies in economics and related fields. Empirical applications are drawn from published examples and frontier research. Familiarity with statistical programming languages is helpful. Students taking graduate version complete an empirical project leading to a short paper. No listeners. Limited to 70 total for versions meeting together.

A. Mikusheva, J. Angrist

14.320 Econometric Data Science

Subject meets with 14.32 Prereq: 14.300 or 18.650[J] G (Fall, Spring) 4-4-4 units

Introduces regression and other tools for causal inference and descriptive analysis in empirical economics. Topics include analysis of randomized experiments, instrumental variables methods and regression discontinuity designs, differences-in-differences estimation, and regress with time series data. Develops the skills needed to conduct — and critique — empirical studies in economics and related fields. Empirical applications are drawn from published examples and frontier research. Familiarity with statistical programming languages is helpful. Students taking graduate version complete an empirical project leading to a short paper. No listeners. Limited to 70 total for versions meeting together.

14.33 Research and Communication in Economics: Topics, Methods, and Implementation

Prereq: 14.32 and ( 14.01 or 14.02 ) U (Fall, Spring) 3-4-5 units. HASS-S

Exposes students to the process of conducting independent research in empirical economics and effectively communicating the results of the research. Emphasizes econometric analysis of an assigned economic question and culminates in each student choosing an original topic, performing appropriate analysis, and delivering oral and written project reports. Limited to 20 per section.

14.35 Why Markets Fail

Prereq: 14.04 , 14.12 , 14.15[J] , or 14.19 U (Fall) 4-0-8 units. HASS-S

Guides students through the process of developing and communicating economic and data analysis. Discusses topics in which markets fail to provide efficient outcomes or economic opportunity. Topics include health insurance, intergenerational mobility, discrimination, climate change, and more. Instruction and practice in oral and written communication provided. Key course activities include the writing of a term paper conducting original economic analysis and an in-class slide presentation of the work. Limited to 18.

14.36 Advanced Econometrics

Subject meets with 14.387 Prereq: 14.32 or permission of instructor U (Fall) 4-0-8 units

Advanced treatment of the core empirical strategies used to answer causal questions in applied microeconometric research. Covers extensions and innovations relating to econometric applications of regression, machine learning, instrumental variables, differences-in-differences and event-study models, regression discontinuity designs, synthetic controls, and statistical inference.  Students taking graduate version complete an additional assignment.  

14.38 Inference on Causal and Structural Parameters Using ML and AI

Subject meets with 14.388 Prereq: 14.32 U (Spring) 4-0-8 units

Provides an applied treatment of modern causal inference with high-dimensional data, focusing on empirical economic problems encountered in academic research and the tech industry. Formulates problems in the languages of structural equation modeling and potential outcomes. Presents state-of-the-art approaches for inference on causal and structural parameters, including de-biased machine learning, synthetic control methods, and reinforcement learning. Introduces tools from machine learning and deep learning developed for prediction purposes, and discusses how to adapt them to learn causal parameters. Emphasizes the applied and practical perspectives. Requires knowledge of mathematical statistics and regression analysis and programming experience in R or Python.

V. Chernozhukov

14.380 Statistical Method in Economics

Prereq: 14.32 or permission of instructor G (Fall; first half of term) 3-0-3 units

Introduction to probability and statistics as background for advanced econometrics. Covers elements of probability theory, sampling theory, asymptotic approximations, hypothesis testing, and maximum-likelihood methods. Illustrations from economics and application of these concepts to economic problems. Limited to 40 PhD students.

A. Mikusheva, A. Rambachan

14.381 Estimation and Inference for Linear Causal and Structural Models

Prereq: 14.380 and 18.06 G (Fall; second half of term) 3-0-3 units

Explains basic econometric ideas and methods, illustrating with empirical applications. Causal inference is emphasized and examples of economic structural models are given. Topics include randomized trials, regression, including discontinuity designs and diffs-in-diffs, and instrumental variables, including local average treatment effects. Basic asymptotic theory for regression is covered and robust standard errors and statistical inference methods are given. Restricted to PhD students from Courses 14 and 15. Instructor approval required for all others.

14.382 Econometrics

Prereq: 14.381 or permission of instructor G (Spring) 3-0-3 units

Covers key models as well as identification and estimation methods used in modern econometrics. Presents modern ways to set up problems and do better estimation and inference than the current empirical practice. Introduces generalized method of moments and the method of M-estimators in addition to more modern versions of these methods dealing with important issues, such as weak identification. Also discusses the bootstrap. Students gain practical experience by applying the methods to real data sets. Enrollment limited.

14.383 High-Dimensional Econometrics (New)

Prereq: 14.382 or permission of instructor G (Spring; second half of term) 3-0-3 units

Continuation of topics in 14.382 , with specific focus on large dimensional models. Students gain practical experience by applying the methods to real data sets. Enrollment limited.

14.384 Time Series Analysis

Prereq: 14.382 or permission of instructor G (Fall) 5-0-7 units

Studies theory and application of time series methods in econometrics, including spectral analysis, estimation with stationary and non-stationary processes, VARs, factor models, unit roots, cointegration, and Bayesian methods. Enrollment limited.

A. Mikusheva

14.385 Nonlinear Econometric Analysis

Develops a full understanding of and ability to apply micro-econometric models and methods. Topics include extremum estimators, including minimum distance and simulated moments, identification, partial identification, sensitivity analysis, many weak instruments, nonlinear panel data, de-biased machine learning, discrete choice models, nonparametric estimation, quantile regression, and treatment effects. Methods are illustrated with economic applications. Enrollment limited.

A. Abadie, W. Newey

14.386 New Econometric Methods

Prereq: 14.382 G (Spring) 4-0-8 units

Exposes students to the frontier of econometric research. Includes fundamental topics such as empirical processes, semiparametric estimation, nonparametric instrumental variables, inference under partial identification, large-scale inference, empirical Bayes, and machine learning methods. Other topics vary from year to year, but can include empirical likelihood, weak identification, and networks.

14.387 Applied Econometrics

Subject meets with 14.36 Prereq: 14.381 or permission of instructor G (Fall) 4-0-8 units

Advanced treatment of the core empirical strategies used to answer causal questions in applied microeconometric research. Covers extensions and innovations relating to econometric applications of regression, machine learning, instrumental variables, differences-in-differences and event-study models, regression discontinuity designs, synthetic controls, and statistical inference.  Students taking the graduate version complete an additional assignment.  

14.388 Inference on Causal and Structural Parameters Using ML and AI

Subject meets with 14.38 Prereq: 14.381 G (Spring) 4-0-8 units

Provides an applied treatment of modern causal inference with high-dimensional data, focusing on empirical economic problems encountered in academic research and the tech industry. Formulates problems in the languages of structural equation modeling and potential outcomes. Presents state-of-the-art approaches for inference on causal and structural parameters, including de-biased machine learning, synthetic control methods, and reinforcement learning. Introduces tools from machine learning and deep learning developed for prediction purposes, and discusses how to adapt them to learn causal parameters. Emphasizes the applied and practical perspectives. Requires knowledge of mathematical statistics and regression analysis and programming experience in R or Python.

14.39 Large-Scale Decision-Making and Inference (New)

Subject meets with 14.390 Prereq: 14.32 U (Fall) 4-0-8 units. HASS-S

Covers the use of data to guide decision-making, with a focus on data-rich and high-dimensional environments as are now commonly encountered in both academic and industry applications. Begins with an introduction to statistical decision theory, including Bayesian perspectives. Covers empirical Bayes methods, including related concepts such as false discovery rates, illustrated with economic applications. Requires knowledge of mathematical statistics and regression analysis, as well as programming experience in R or Python. Students taking the graduate version submit additional assignments.

14.390 Large-Scale Decision-Making and Inference (New)

Subject meets with 14.39 Prereq: 14.320 G (Fall) 4-0-8 units

14.391 Workshop in Economic Research

Prereq: 14.124 and 14.454 G (Fall) 2-0-10 units Can be repeated for credit.

Develops research ability of students through intensive discussion of dissertation research as it proceeds, individual or group research projects, and critical appraisal of current reported research. Workshops divided into various fields, depending on interest and size.

14.392 Workshop in Economic Research

Prereq: 14.124 and 14.454 G (Spring) 2-0-10 units Can be repeated for credit.

14.399 Seminar in Data Economics and Development Policy

Prereq: Permission of instructor G (Spring) 2-0-10 units

Group study of current topics in development policy and research. Includes student presentations and invited speakers. Restricted to DEDP MASc students.

National Income and Finance

14.41 public finance and public policy.

Subject meets with 14.410 Prereq: 14.01 U (Fall) 4-0-8 units. HASS-S

Explores the role of government in the economy, applying tools of basic microeconomics to answer important policy questions such as government response to global warming, school choice by K-12 students, Social Security versus private retirement savings accounts, government versus private health insurance, setting income tax rates for individuals and corporations. Students taking the graduate version complete additional assignments.

14.410 Public Finance and Public Policy

Subject meets with 14.41 Prereq: 14.01 G (Fall) 4-0-8 units

14.416[J] Asset Pricing

Same subject as 15.470[J] Prereq: None G (Fall) 4-0-8 units

See description under subject 15.470[J] .

L. Schmidt, L. Mota

14.42 Environmental Policy and Economics

Subject meets with 14.420 Prereq: 14.01 U (Spring) Not offered regularly; consult department 4-0-8 units. HASS-S

Introduces key concepts and recent advances in environmental economics, and explores their application to environmental policy questions. Topics include market efficiency and market failure, methods for valuing the benefits of environmental quality, the proper role of government in the regulation of the environment, environmental policy design, and implementation challenges. Considers international aspects of environmental policy as well, including the economics of climate change, trade and the environment, and environmental challenges in developing countries. Students taking graduate version complete additional assignments.

14.420 Environmental Policy and Economics

Subject meets with 14.42 Prereq: 14.01 G (Spring) Not offered regularly; consult department 4-0-8 units

Introduces students to key concepts and recent advances in environmental economics, and explores their application to environmental policy questions. Topics include market efficiency and market failure, methods for valuing the benefits of environmental quality, the proper role of government in the regulation of the environment, environmental policy design and implementation challenges. Also considers international aspects of environmental policy including the economics of climate change, trade and the environment and environmental challenges in developing countries. Students taking graduate version complete additional assignments.

14.43[J] Economics of Energy, Innovation, and Sustainability

Same subject as 15.0201[J] Prereq: 14.01 or 15.0111 U (Fall) Not offered regularly; consult department 3-0-9 units. HASS-S Credit cannot also be received for 15.020

See description under subject 15.0201[J] .

14.44[J] Energy Economics and Policy

Same subject as 15.037[J] Prereq: 14.01 or 15.0111 U (Spring) 4-0-8 units. HASS-S Credit cannot also be received for 14.444[J] , 15.038[J]

Analyzes business and public policy issues in energy markets and in the environmental markets to which they are closely tied. Examines the economic determinants of industry structure and evolution of competition among firms in these industries. Investigates successful and unsuccessful strategies for entering new markets and competing in existing markets. Industries studied include oil, natural gas, coal, electricity, and transportation. Topics include climate change and environmental policy, the role of speculation in energy markets, the political economy of energy policies, and market power and antitrust. Two team-based simulation games, representing the world oil market and a deregulated electricity market, act to cement the concepts covered in lecture. Students taking graduate version complete additional assignments. Limited to 60.

14.440[J] Advanced Corporate Finance

Same subject as 15.473[J] Prereq: None G (Spring) 3-0-9 units

See description under subject 15.473[J] . Primarily for doctoral students in finance, economics, and accounting.

14.441[J] Corporate Finance

Same subject as 15.471[J] Prereq: None G (Spring) 3-0-9 units

See description under subject 15.471[J] .

A. Schoar, D. Thesmar

14.442[J] Advanced Asset Pricing

Same subject as 15.472[J] Prereq: None G (Fall) 3-0-9 units

See description under subject 15.472[J] . Primarily for doctoral students in finance, economics, and accounting.

14.444[J] Energy Economics and Policy

Same subject as 15.038[J] Prereq: 14.01 or 15.0111 G (Spring) 4-0-8 units Credit cannot also be received for 14.44[J] , 15.037[J]

14.448[J] Current Topics in Finance

Same subject as 15.474[J] Prereq: None G (Spring) 3-0-9 units Can be repeated for credit.

See description under subject 15.474[J] . Primarily for doctoral students in accounting, economics, and finance.

Consult J. Alton

14.449[J] Current Research in Financial Economics

Same subject as 15.475[J] Prereq: Permission of instructor G (Fall, IAP, Spring, Summer) 3-0-3 units Can be repeated for credit.

See description under subject 15.475[J] . Restricted to doctoral students.

14.451 Dynamic Optimization Methods with Applications

Prereq: 14.06 and permission of instructor G (Fall; first half of term) 3-0-3 units

Provides an introduction to dynamic optimization methods, including discrete-time dynamic programming in non-stochastic and stochastic environments, and continuous time methods including the Pontryagin maximum principle. Applications may include the Ramsey model, irreversible investment models, and consumption choices under uncertainty. Enrollment limited.

14.452 Economic Growth

Prereq: 14.451 and permission of instructor G (Fall; second half of term) 3-0-3 units

Introduces the sources and modeling of economic growth and income differences across nations. Topics include an introduction to dynamic general equilibrium theory, the neoclassical growth model, overlapping generations, determinants of technological progress, endogenous growth models, measurement of technological progress, the role of human capital in economic growth, and growth in a global economy. Enrollment limited.

D. Acemoglu

14.453 Economic Fluctuations

Prereq: 14.452 and permission of instructor G (Spring; first half of term) 3-0-3 units

Investigation of why aggregate economic activity fluctuates, and the role of policy in affecting fluctuations. Topics include the link between monetary policy and output, the economic cost of aggregate fluctuations, the costs and benefits of price stability, and the role of central banks. Introduction to real business cycle and new Keynesian models. Enrollment limited.

14.454 Economic Crises

Prereq: 14.453 and permission of instructor G (Spring; second half of term) 3-0-3 units

Provides an overview of models of the business cycle caused by financial markets' frictions and shocks. Topics include credit crunch, collateral shocks, bank runs, contagion, speculative bubbles, credit booms, leverage, safe asset shortages, capital flows and sudden stops. Enrollment limited.

R. Caballero

14.461 Advanced Macroeconomics I

Prereq: 14.122 and 14.452 G (Fall) 5-0-7 units

Advanced subject in macroeconomics that seeks to bring students to the research frontier. Topics vary from year to year, covering a wide spectrum of classical and recent research. Topics may include business cycles, optimal monetary and tax policy, monetary economics, banking, and financial constraints on investment and incomplete markets.

M. Beraja, I. Werning

14.462 Advanced Macroeconomics II

Prereq: 14.461 G (Spring) 5-0-7 units

Topics vary from year to year. Often includes coordination failures; frictions in beliefs, such as rational inattention, higher-order uncertainty, certain forms of bounded rationality, heterogeneous beliefs, and ambiguity; implications for business cycles, asset markets, and policy; financial frictions and obstacles to trade; intermediation; liquidity; safe assets; global imbalances; financial crises; and speculation.

14.47[J] Global Energy: Politics, Markets, and Policy

Same subject as 11.167[J] , 15.2191[J] , 17.399[J] Prereq: None U (Spring) Not offered regularly; consult department 3-0-9 units. HASS-S Credit cannot also be received for 11.267[J] , 15.219[J]

See description under subject 15.2191[J] . Preference to juniors, seniors, and Energy Minors.

14.471 Public Economics I

Prereq: 14.04 G (Spring) 4-0-8 units

Theory and evidence on government taxation policy. Topics include tax incidence; optimal tax theory; the effect of taxation on labor supply and savings; taxation and corporate behavior; and tax expenditure policy.

N. Hendren, J. Poterba, I. Werning

14.472 Public Economics II

Prereq: 14.471 G (Fall) 3-0-9 units

Focuses on government expenditures and policies designed to correct market failures and/or redistribute resources. Key topics include theoretical and empirical analysis of insurance market failures, the optimal design of social insurance programs, and the design of redistributive programs.

A. Finkelstein, N. Hendren

14.475 Environmental Economics

Prereq: None G (Spring) 4-0-8 units

Theory and evidence on environmental externalities and regulatory, tax and other government responses to problems of market failure. Topics include cost-benefit analysis; measurement of the benefits of non-market goods; evaluation of the impacts of regulation; and international environmental issues including the economics of climate change and trade and the environment.

International, Interregional, and Urban Economics

14.54 international trade.

Subject meets with 14.540 Prereq: 14.01 U (Fall) 4-0-8 units. HASS-S

Provides an introduction to theoretical and empirical topics in international trade. Offers a brief history of globalization. Introduces the theory of comparative advantage and discusses its implications for international specialization and wage inequality. Studies the determinants and consequences of trade policy, and analyzes the consequences of immigration and foreign direct investment. Students taking graduate version complete additional assignments.

A. Costinot

14.540 International Trade

Subject meets with 14.54 Prereq: 14.01 G (Fall) 4-0-8 units

14.581 International Economics I

Prereq: 14.04 G (Fall) 5-0-7 units

Covers a variety of topics, both theoretical and empirical, in international trade, international macroeconomics, and economic geography. Focuses on general equilibrium analysis in neoclassical economies. Considers why countries and regions trade, and what goods they trade; impediments to trade, and why some countries deliberately erect policy to impede; and implications of openness for growth. Also tackles normative issues, such as whether trade openness is beneficial, whether there are winners and losers from trade and, if so, how they can possibly be identified.

D. Atkin, A. Costinot, D. Donaldson

14.582 International Economics II

Prereq: 14.06 G (Spring) 5-0-7 units

Building on topics covered in 14.581 , revisits a number of core questions in international trade, international macroeconomics, and economic geography in the presence of increasing returns, imperfect competition, and other distortions. Stresses their connection to both macro and micro (firm-level) data for questions related to trade policy, inequality, industrial policy, growth, and the location of economic activities. Focuses on both theoretical models, empirical findings, and the challenging task of putting those two together.

Labor Economics and Industrial Relations

14.64 labor economics and public policy.

Subject meets with 14.640 Prereq: 14.30 or permission of instructor Acad Year 2024-2025: Not offered Acad Year 2025-2026: U (Spring) 4-0-8 units. HASS-S

Provides an introduction to the labor market, how it functions, and the important role it plays in people's lives. Topics include supply and demand, minimum wages, labor market effects of social insurance and welfare programs, the collective bargaining relationship, discrimination, human capital, and unemployment. Completion of or concurrent enrollment in 14.03 or 14.04 ,  and 14.32 recommended. Students taking graduate version complete additional assignments.

14.640 Labor Economics and Public Policy

Subject meets with 14.64 Prereq: 14.300 or permission of instructor Acad Year 2024-2025: Not offered Acad Year 2025-2026: G (Spring) 4-0-8 units

Provides an introduction to the labor market, how it functions, and the important role it plays in people's lives. Topics include supply and demand, minimum wages, labor market effects of social insurance and welfare programs, the collective bargaining relationship, discrimination, human capital, and unemployment. Completion of or concurrent enrollment in 14.03 or 14.04 , and 14.32 recommended. Students taking graduate version complete additional assignments.

14.661 Labor Economics I

Subject meets with 14.661A Prereq: 14.32 and ( 14.03 or 14.04 ) G (Fall) 5-0-7 units

A systematic development of the theory of labor supply, labor demand, and human capital. Topics include wage and employment determination, turnover, search, immigration, unemployment, equalizing differences, and institutions in the labor market. Particular emphasis on the interaction between theoretical and empirical modeling. No listeners.

D. Acemoglu, J. Angrist, P. Pathak

14.661A Labor Economics I

Subject meets with 14.661 Prereq: 14.32 and ( 14.03 or 14.04 ) G (Fall) 5-0-7 units

Covers the same material as 14.661 but in greater depth. Additional assignments required. Limited to economics PhD students who wish to declare a major field in labor economics.

14.662 Labor Economics II

Subject meets with 14.662A Prereq: 14.32 and ( 14.03 or 14.04 ) G (Spring) 5-0-7 units

Theory and evidence on the determinants of earnings levels, inequality, intergenerational mobility, skill demands, and employment structure. Particular focus on the determinants of worker- and firm-level productivity; and the roles played by supply, demand, institutions, technology and trade in the evolving distribution of income.

D. Autor, S. Jaeger

14.662A Labor Economics II

Subject meets with 14.662 Prereq: 14.32 and ( 14.03 or 14.04 ) G (Spring) 5-0-7 units

Covers the same material as 14.662 but in greater depth. Additional assignments required. Limited to economics PhD students who wish to declare a major field in labor economics.

Economic History

14.70[j] medieval economic history in comparative perspective.

Same subject as 21H.134[J] Prereq: None U (Spring) 3-0-9 units. HASS-S; CI-H

See description under subject 21H.134[J] .

Economic Development

14.73 the challenge of world poverty.

Prereq: None U (Fall) 4-0-8 units. HASS-S; CI-H

Designed for students who are interested in the challenge posed by massive and persistent world poverty. Examines extreme poverty over time to see if it is no longer a threat, why some countries grow fast and others fall further behind, if growth or foreign aid help the poor, what we can do about corruption, if markets or NGOs should be left to deal with poverty, where to intervene, and how to deal with the disease burden and improve schools.

E. Duflo, F. Schilbach

14.74 Foundations of Development Policy

Subject meets with 14.740 Prereq: 14.01 U (Fall) Not offered regularly; consult department 4-0-8 units. HASS-S

Explores the foundations of policy making in developing countries, with the goal of spelling out various policy options and quantifying the trade-offs between them. Topics include education, health, fertility, adoption of technological innovations, financial markets (credit, savings, and insurance), markets for land and labor, political factors, and international considerations (aid, trade, and multinational firms). Some basic familiarity with probability and/or statistics is useful for this class. Students taking graduate version complete additional assignments.

14.740 Foundations of Development Policy

Subject meets with 14.74 Prereq: 14.01 G (Fall) Not offered regularly; consult department 4-0-8 units

14.75 Political Economy and Economic Development

Subject meets with 14.750 Prereq: 14.01 U (Spring) 4-0-8 units. HASS-S

Explores the relationship between political institutions and economic development, covering key theoretical issues as well as recent empirical evidence. Topics include corruption, voting, vote buying, the media, and war. Discusses not just what we know on these topics, but how we know it, covering how to craft a good empirical study or field experiment and how to discriminate between reliable and unreliable evidence.  Some basic familiarity with probability and/or statistics is useful for this class.  Students taking graduate version complete additional assignments.

A. Banerjee, B. Olken

14.750 Political Economy and Economic Development

Subject meets with 14.75 Prereq: 14.01 G (Spring) 4-0-8 units

Explores the relationship between political institutions and economic development, covering key theoretical issues as well as recent empirical evidence. Topics include corruption, voting, vote buying, the media, and war. Discusses not just what we know on these topics, but how we know it, covering how to craft a good empirical study or field experiment and how to discriminate between reliable and unreliable evidence. Some basic familiarity with probability and/or statistics is useful for this class.  Students taking graduate version complete additional assignments.

14.76 Firms, Markets, Trade and Growth

Subject meets with 14.760 Prereq: 14.01 and ( 14.30 or permission of instructor) U (Spring) 4-0-8 units. HASS-S

Examines how industrial development and international trade have brought about rapid growth and large-scale reductions in poverty for some developing countries, while globalization has simply increased inequality and brought little growth for others. Also considers why, in yet other developing countries, firms remain small-scale and have not integrated with global supply chains. Draws on both theoretical models and empirical evidence to better understand the reasons for these very different experiences and implications for policy. Students taking graduate version complete additional assignments.

D. Atkin, D. Donaldson

14.760 Firms, Markets, Trade and Growth

Subject meets with 14.76 Prereq: 14.01 and ( 14.30 or permission of instructor) G (Spring) 4-0-8 units

14.770 Introduction to Collective Choice and Political Economy

Broad introduction to political economy. Covers topics from social choice theory to political agency models, including theories of voter turnout and comparison of political institutions.

A. Banerjee, B. Olken, A. Wolitzky

14.771 Development Economics: Microeconomic Issues

Prereq: 14.121 and 14.122 G (Fall) 5-0-7 units

A rigorous introduction to core micro-economic issues in economic development, focusing on both key theoretical contributions and empirical applications to understand both why some countries are poor and on how markets function differently in poor economies. Topics include human capital (education and health); labor markets; credit markets; land markets; firms; and the role of the public sector.

E. Duflo, B. Olken

14.772 Development Economics: Macroeconomics

Prereq: 14.121 and 14.451 G (Spring) 5-0-7 units

Emphasizes dynamic models of growth and development. Topics include migration, modernization, and technological change; static and dynamic models of political economy; the dynamics of income distribution and institutional change; firm structure in developing countries; development, transparency, and functioning of financial markets; privatization; and banks and credit market institutions in emerging markets. Examines innovative yet disruptive digital technologies, including blockchain, digital assets, crypto currency, distributed ledgers, and smart contracts.

D. Atkins, A. Banerjee, R. Townsend

14.773 Political Economy: Institutions and Development

Economists and policymakers increasingly realize the importance of political institutions in shaping economic performance, especially in the context of understanding economic development. Work on the determinants of economic policies and institutions is in its infancy, but is growing rapidly. Subject provides an introduction to this area. Topics covered: the economic role of institutions; the effects of social conflict and class conflict on economic development; political economic determinants of macro policies; political development; theories of income distribution and distributional conflict; the efficiency effects of distributional conflict; the causes and consequences of corruption; the role of colonial history; and others. Both theoretical and empirical approaches discussed. Subject can be taken either as part of the Development Economics or the Positive Political Economy fields.

D. Acemoglu, A. Banerjee, J. Moscona

14.775 Comparing Societies (New)

Studies the cultural, social, and institutional foundations of societies around the world, emphasizing fundamentals and mechanisms that are outside the scope of traditional models in economics. Topics include social organization, perceptions of reality (e.g., the spiritual and meta-human world), drivers of innovation and technology diffusion, conflict, determinants of fertility and population growth, moral frameworks (e.g., views about right/wrong, fairness, equality, and community membership), religion, objectives and definitions of success, and societal equilibria. Emphasizes how research ranging from economic theory to development and policy design can benefit from an understanding of these vast differences that exist around the world. Also considers how these differences affect and are affected by culture, formal institutions, and development. Open to PhD students.

J. Moscona, N. Nunn, J. Robinson

14.78[J] Shaping the Future of Technology: From Early Agriculture to Artificial Intelligence

Same subject as 15.238[J] Prereq: None Acad Year 2024-2025: Not offered Acad Year 2025-2026: U (Spring) 4-0-8 units. HASS-S; CI-H

Provides a framework for thinking about major technological transitions over the past 12,000 years as a means to explore paths to a better future. Discusses who gains or loses from innovation and who can shape the future of artificial intelligence, biotech, and other breakthroughs. Introduces major questions tackled by researchers and relevant to economic policy through faculty lectures, interactive events with prominent guests, and group work. Instruction and practice in oral and written communication provided.

D. Acemoglu, S. Johnson

14.THG Graduate Thesis

Prereq: Permission of instructor G (Fall, IAP, Spring, Summer) Units arranged Can be repeated for credit.

Program of research and writing of thesis; to be arranged by the student with advising committee.

14.THU Thesis

Prereq: 14.33 U (Fall, IAP, Spring, Summer) Units arranged Can be repeated for credit.

Program of research and writing of thesis.

14.UR Undergraduate Research

Prereq: 14.02 U (Fall, IAP, Spring, Summer) Units arranged [P/D/F] Can be repeated for credit.

Participation in research with an individual faculty member or research group, independent research or study under the guidance of a faculty member. Admission by arrangement with individual faculty member.

14.URG Undergraduate Research

Prereq: 14.02 U (Fall, IAP, Spring, Summer) Units arranged Can be repeated for credit.

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