Rennes Exchange Program in Economics Course description

Transcription

1 Rennes Exchange Program in Economics Professor A. Bonein Office 297 aurelie.bonein[at]univ-rennes1.fr Game Theory and Behavioral Economics Game theory concerns an analysis of decision makers who are aware that their actions and assumptions made by others affect will affect the decisions of others. In the last 30 years, game theory has become the core of economics, both macro and micro. The formal, analytical tools from economics and mathematics that largely fallen under the heading of game theory allow us to understand the rational approach to decisions that have discrete choices and clear paths. The course introduces the main concepts and tools of game theory. You will learn how to represent an economic situation as a game and how to analyze it using different equilibrium concepts proposed in the literature. Ideas such as dominance, backward induction and Nash equilibrium, are discussed and applied to games played in class and to examples drawn from economics, politics You must be comfortable with mathematical thinking and rigorous arguments. Relatively little specific math is required. Binmore (1992): Fun and Games, A Text on Game Theory, Houghton Mifflin Camerer (2003): Behavioral Game Theory: Experiments on Strategic Interaction Eichberger, J. (1993). Game Theory for Economists, Academic Press, San Diego. Fudenberg, D., Tirole, J. (1991). Game Theory, MIT Press, Cambridge, Massachussets. Gibbons (1992): Game Theory for Applied Economists Mas-Collel, A., Whinston, M. D., Green, J. R. (1995). Microeconomic Theory, Oxford University Press, New York, Oxford. (Chapters 13, 14) Chapter 1. Introduction Chapter 2. Properties and representations of a game Chapter 3. Static games Chapter 4. Dynamics games and repeated games 1

2 Applied Statistics Professor Sophie LARRIBEAU Office sophie.larribeau@univ-rennes1.fr This course covers applied statistical methods with emphasis on confidence intervals estimation and hypothesis testing. It is suitable for data analysis with a rather limited study of probability. The emphasis is on learning to apply statistical methods and probability rules to solve real problems in business and economics. This course is a prerequisite for a course in introductory econometrics. Organizing and presenting collected data. Measures of location and spread. Basic probability concepts. Random variables and probability distributions. Discrete probability distributions (including Bernoulli, Binomial and Poisson) and continuous probability distributions (including normal and uniform). 1. Sampling distributions 2. Confidence intervals calculus and interpretation : for a mean and a proportion and for the difference between two means and two proportions 3. Hypothesis testing of means, variances and proportions; Goodness of fit tests and contingency tables (independence) Professor Isabelle Cadoret Office : 250 isabelle.cadoret@univ-rennes1.fr International Trade The course is devoted to trade questions. It presents the theoretical and historical insights that have traditionally formed the core of the subject and covers the most important recent developments in international economics. The course doesn t presuppose an extensive background in economics. Students who have had a course in economics principles, microeconomics and macroeconomics will find the course accessible. International Economics, Robert C. Feenstra, Alan M. Taylor, Worth Publishers International Economics, Theory and Policy : Paul G. Krugman, Maurice Obstfeld, Pearson, Addison Wesley. Chapter 1 - Introduction Trade in the Global Economy Chapter 2 International Trade Theory (Ricardian Model, Specific Factors Model, Heckscher-Ohlin Model, ) Chapter 3 International Trade Policy (Instruments, International Agreements, ) 2

3 Professor Thierry Penard et Thomas Le Texier Industrial Organization This course provides a graduate level introduction to Industrial Organization. It deals with the study of the interactions between firms and their competitors, suppliers, and customers when imperfect competition is characterized. The aim of the course is to provide an understanding of concepts and tools in the theory of Industrial Organization, and to explore recent developments in the field by exposing students to a wide variety of techniques. All lectures and course material are in English. The prerequisites are Principles of Microeconomics and Basic Optimization and Mathematical Programming. Textbook: Industrial Organization: Contemporary Theory and Empirical Applications, by L. Pepall, D. Richards and G. Norman, Blackwell Publishing, 2008 (called PRN) Course outline 1 Introduction: From Industrial economics to strategic behavior of firms 1.1 Strategic behavior/industrial Organization: what, why and how? (PRN Chapter 1) 1.2 Basic conditions, market structure and market power (PRN 3 and 4) 2 Oligopoly and strategic interaction: how do firms compete strategically? 2.1 Game theory (PRN 9) 2.2 Cournot competition (PRN 9) 2.3 Bertrand competition (PR10)) 2.4 Dynamic competition (PR11) 3. Non price competition: How do firm differentiate their products? 3.1 Differentiation (PRN 10) 3.2 Advertising (PRN 20, 21) 4 Anticompetitive strategies: how do firms relax competition? 4.1 Price Fixing and collusion (PRN 14 and 15) 4.2 Entry deterrence, predatory conduct and monopolization (PRN 12, 13) 4.3 Mergers (PR 16) 5 Vertical relationships: how do firms interact with their suppliers and customers? 5.1 Vertical price constraints (PRN 18) 5.2 Non price vertical restraints (PRN 19) 5.3 Vertical mergers (PRN 17) 3

4 Pr. Catherine Benjamin and Elsa Orgiazzi Labor economics: Macroeconomics Pre-requisites Students should have completed Microeconomic Principles and Macroeconomic Principles or equivalent. The course is devoted to unemployment and labor market functioning. In almost any economy at almost any time, many individuals are not employed. The nature of this non-employment appears to be not only voluntary. This course offers some theoretical background for understanding the causes and consequences of unemployment. We start with describing regularities in the labor market for the OECD countries using basic theoretical concepts (natural rate of unemployment, Beveridge curve, Phillips curve and the NAIRU model). Then we present some of modern theories of the labor market functioning, which aim in explaining sources of unemployment, its persistence and duration, and cyclical behaviour of employment and real wages Course outline I. Stylized Facts of the Labor Market II. Market clearing theories of labor markets. III. Imperfect competition and labor markets. IV. Efficiency wage models of the labor market V. Insider-outsider models and unemployment hysteresis VI. Labor market policies Reference Pierre Cahuc and André Zylberberg (2004) Labor Economics. Cambridge Massachusetts: The MIT Press. Pr. David Masclet Course outline Introduction Part one. Labor Supply and Demand Part two. Unemployment Part three. Wage formation Part four. Organizational Structure and Job Design Part five. Labor Market Discrimination Part six. Labor unions and bargaining Conclusion Labor Economics: Microeconomics References Borjas. G. Labor Economics McGraw-Hill International Edition Cahuc P. and A. Zylberberg Labor Economics MIT Press Lazear E. and M. Gibbs Personnel Economics in Practice Second Edition Wiley 4

5 Professor : Tarroux Benoît Office benoit.tarroux@univ-rennes1.fr Taxation and Wealth Redistribution How can we tax different goods? Should income tax be progressive? The design of tax and redistributive policies is a matter of vivid debate in modern societies. The aim of this course is to present the foundations of the economic analysis of taxation and redistribution. This course covers theory and evidence on government taxation policy. Topics include tax incidence, the effect of taxation on choices made by economic agent and redistribution policies. Microeconomics The Economics of Public Sector, Joseph Stiglitz. 1- Welfare analysis of state intervention : market failures (public goods and externalities), social welfare and preference for redistribution. 2- Commodity taxation : tax incidence in markets. 3- Labor income taxation and redistribution : incentive, taxation and labor supply. 4- Capital and capital income taxation. 5- Low income support. 6- International (European) issues of taxation : Tax competition and tax harmonisation. 7- Behavioral economics and taxation. 5

6 Professor Jean-Jacques DURAND Office jean-jacques.durand@univ-rennes1.fr Macroeconomic policies This course introduces price adjustments in the macroeconomic equilibrium with the AS/AD model. Students for example will study what could be the effects of price rigidities with employment policies or monetary policy. Inside this model, the last part of the course is dedicated to the implementation of fiscal consolidation policies in E-U with the most recent empirical cases (tax increases and public expenditures decreases). Macroeconomic equilibrium with IS/LM model Olivier Blanchard, Macroeconomics, Pearson, International Edition, Fifth Edition Macroeconomics in the medium run: the AS-AD model the role of price adjustments: flexibility vs rigidity the link between price adjustments and output: the labor market and the AS curve the link between price adjusments and global demand: the AD curve the path to equilibrium: short run and long run analysis The dynamics of adjustment the effects of a monetary shock the effects of a fiscal shock Inflation, unemployment and expectations adaptative expectations rational expectations Fiscal consolidation in practice the government budget constraint the Stability and Growth Pact in EU how to stabilize the public debt 6

7 Public goods and policies Véronique THELEN Jean-Michel JOSSELIN The lectures provide an overview of public interventions from a microeconomic perspective. We insist on decision-making process, implementation of policies and their evaluation. Spatial and generational dimensions are also considered. Intermediate microeconomics Pindyck Robert and Daniel Rubinfeld (2008), Microeconomics, Pearson Mueller Dennis (2003) Public Choice III, Cambridge University Press. 1. Why should we study public economics? 2. Public goods and externalities 3. Evaluation of public policies 4. The public choice perspective 5. The spatial dimension in public economics 6. Introducing time and generations Jean-Christophe Poutineau International finance The course studies issues in international finance (also known as international macroeconomics or open economy macroeconomics) and examines the interaction of national economies through international financial markets. We try to understand floating nominal exchange rates (spot and forward), speculative attacks, and interest-rate differentials. We also learn about the history of the international monetary system and policy issues such as exchange-rate management, currency unions, and speculative currency crises. Main reference Robert Feenstra and Alan Taylor International Macroeconomics (2012), Worth Publishers Topics to be coverred 1. The Global Macroeconomy 2. Introduction to Exchange Rates and the Foreign Exchange Market 3. Exchange Rates I: The Monetary Approach in the Long Run 4. Exchange Rates II: The Asset Approach in the Short Run 5. National and International Accounts: Income, Wealth, and the Balance of Payments 6. The Balance of Payment I: The Gains from Financial Globalization 7. The Balance of Payment II: Output, Exchange Rates, and Macroeconomic Policies in the Short Run 7