Graduate School of International Economics and Finance

G = Objectives

The Graduate School of International Economics and Finance is designed to help students recognize and respond to the challenges of an expanding global marketplace. Each of the programs in the school is structured to train students to help decision-makers in business and government address the complex responsibilities they face in their professional environments.

The Lemberg M.A. Program in International Economics and Finance offers an innovative, two-year professional Master of Arts degree for students planning careers with corporations, financial institutions, government, and international organizations. The program integrates management and international relations perspectives; it addresses the practical tools of international finance as well as the economic and political forces that shape world commerce. One semester of the program is spent abroad at one of 18 affiliated universities in Europe, Latin America, or the Far East.

An accelerated, one-year track of the Lemberg M.A. degree exists for midcareer professionals and other individuals with substantial related work experience. The one-year programs begin annually in September and end in August of the following year.

The Ph.D. Program in International Economics and Finance provides advanced training in economic theory, research techniques, and creative problem-solving in an integrated global economic framework. Concentrations are limited to four special fields: international trade, international finance, international business, and development/transition economics. Analytical and problem-solving skills are fostered through involvement in applied research, internships, and focused workshops in a flexible, small-group environment. The training prepares students for careers in teaching, research, and policy-making in business, government, international agencies, and academia. The program requires two years of course work, qualifying examinations, and an original thesis.

Combined B.A./M.A. Program

Brandeis undergraduate students may apply for admission to the Lemberg M.A. Program in the spring of their junior year and begin taking program courses in their senior year. Students entering as undergraduates can satisfy the master's degree requirements in one additional year of study after receiving the B.A. degree; five years of study at Brandeis University is normally required. One year of residence as a graduate student is required.

Further information regarding requirements and applications is available from the International Economics and Finance School office (Sachar 121).

G = How to Be Admitted to the Graduate School

The general requirements for admission to the Graduate School of Arts and Sciences apply to candidates for admission to the programs in international economics and finance. For the Lemberg M.A. degree program, either GMAT or GRE scores are required. For the Ph.D. program, GRE scores (both the general and economics tests) must be submitted. An undergraduate concentration in economics is not required for either master's degree or Ph.D. programs, but applicants are expected to have a background in economics and related analytical subjects. For admission to the master's degree program, undergraduate work should include courses in introductory economics and international relations. In addition to the above courses, a course in intermediate macroeconomics and some exposure to differential, integral, and multivariate calculus, and linear algebra is also required for Ph.D. candidates. Applicants to the M.A. degree program should also have attained some proficiency in at least one major foreign language.

S = Faculty

Peter Petri, Dean

International trade. Development. Japan. Asia-Pacific.

F. Trenery Dolbear, Director of Admissions

Macroeconomics. Theory and computer simulations.

Benjamin Gomes-Casseres, Director of M.A. Programs

International business and corporate alliance.

Rachel McCulloch, Director of Ph.D. Program

International trade theory. Trade policy. Macroeconomic coordination. Investment and technology transfer.

Christopher Alt

Finance. Applied economics. Strategic planning.

Anne Carter

Technological change. Input/output.

Atreya Chakraborty

Investment. Corporate finance. Economics of regulation and antitrust.

Gianni DeNicoló

Monetary theory. Financial economics. Empirical finance.

Hayden Estrada

International marketing and sales.

Robert Evans, Jr.

Japan. Labor. Economic history.

Paul Harrison

Applied time-series econometrics. Financial economics. History of economic thought. Macroeconomics.

Jane Hughes

Domestic and international cash management. Third world debt, sovereign risk, and foreign exchange markets.

Adam Jaffe

Technology. Economic growth. Industrial organization.

Gary Jefferson

China. Technical progress. Open economy macroeconomics.

Arthur Lewbel

Econometrics. Demand theory. Aggregation.

Julie Nelson

Economics of the household. Demand analysis. Feminist theory. Economic methodology. Public economics. Development.

Michael Plummer

International trade and finance. Regional economic integration. International development (particularly ASEAN).

Barney Schwalberg

Russia. Labor. Education.

G = Requirements for the Degree of Master of Arts

Students must successfully complete an approved schedule of at least 12 courses during their three terms of residency at Brandeis. This includes six required courses and the remainder from a list of approved electives. Students must also successfully complete an approved schedule of courses during one term of study at an affiliated foreign university.

The one-year and two-year tracks have the same course and language requirements. The major difference is that the one-year track does not require study abroad, since the candidates' prior background is assumed to include equivalent international experience. Students in the one-year track take eight semester courses during the regular academic year and complete the last four courses in the following summer, in a specially tailored program.

Residence Requirements

Two years of full­time study will normally be required. One term of study will be spent at a foreign university associated with the program. For one-year M.A. degree candidates, 12 months of residence as a graduate student is required. For B.A./M.A. degree candidates, one year of residence as a graduate student is required.

Language Requirement

Candidates will be required to demonstrate a high level of proficiency in one priority foreign language.

Internship

Students are encouraged to serve as interns with a business or governmental agency in the summer following their first year of study.

Project

An optional master's project involving a thesis or a report on an appropriate internship may be submitted no later than April 15 of the year in which the degree is to be conferred. One-year program students are required to submit a master's project during the final stage of their coursework.

G = Requirements for the Degree of Doctor of Philosophy

Requirements for the degree are defined in terms of successful completion of formal coursework, outstanding performance in examinations designed to measure field competence, and substantive research activities. Students are expected to master the content of seven core courses (in the subjects of microeconomics, macroeconomics, econometrics, and finance). Normally, students will enroll in these courses during their first two years and pass a written general qualifying exam covering the core subjects. In addition to the core requirements, students must also take courses and pass oral exams in two of the four following fields of concentration:

1. international trade

2. international finance

3. international business

4. development/transition economics

After core and exam requirements are substantially completed, Ph.D. students, in residence, are required to enroll in IEF 399a or 399b (Topics in International Economics and Finance). This workshop provides opportunities for students to hear research presentations by faculty members and visitors, present papers in progress, and define thesis objectives.

Residence Requirement

Although there is a three-year minimum residence requirement, four years of full-time graduate study are usually required for the Ph.D.

Language Requirement

While there is no formal language requirement, students are strongly encouraged to develop a reading knowledge of a second major foreign language.

Core and Field Examinations

Each candidate for the Ph.D. must pass a written examination, offered annually, covering the core required subjects. Students must also pass oral examinations in two of the four fields of concentration described earlier. The purpose of the examination is to demonstrate competence in a broad specialty to the examining committee. The field examinations are offered as required.

Research Experience and Thesis

Students are expected to participate in one or more applied research projects during the first two years of study. A critical paper that analyzes the objectives and methods of at least one such research project or, alternatively, a substantive original research paper, is required in addition to the qualifying field examinations.

Dissertation and Defense

All candidates for the Ph.D. will submit a dissertation in a form approved by his or her dissertation director and by a committee appointed by the chair of graduate studies. The student will defend the dissertation at a Final Oral Examination.

G = Special Notes Relating to the Graduate Programs

The Graduate School of International Economics and Finance provides some financial support, which may include tuition scholarships, research or teaching assistantships, and institutional loans. Aid is based on both merit and need and is also available to students from abroad. American and Canadian applicants for aid must file a FAFSA form. Students from other countries must complete the financial aid form for international students that is part of the school's application. The M.A. degree program requires parents' information for all dependent students, regardless of age, and all independent students under 24. Students who fail to provide parental information may jeopardize their consideration for institutional aid.

In addition to the courses listed below, IEF students may take courses in the Department of Economics or other departments at Brandeis. A full list of non-IEF courses applicable to the degree is available in the Graduate School of International Economics and Finance catalog.

S = Courses of Instruction

G = (200 and above) Primarily for Graduate Students

IEF 200f Fundamentals of Microeconomics

Only open to IEF students. Meets for one-half semester and yields half-course credit.

Designed for 1st year M.A. students. An introduction to key theoretical concepts in microeconomics. Calculus will only be used in a very limited number of cases. Emphasizes topics important in other IEF classes, such as Financial Theory or International Trade. Some material is applicable to courses in Business Strategy. Usually offered every year.

Staff

IEF 201f Fundamentals of Macroeconomics

Only open to IEF students. Meets for one-half semester and yields half-course credit.

Prepares students for more advanced macroeconomics classes by providing the basic building blocks for a thorough understanding of current macroeconomic issues. Usually offered every year.

Staff

IEF 202b International Macroeconomics

Reviews standard international macroeconomics, including balance of payments accounting, PPP and interest parity, and the Mundell­Fleming paradigm. Advanced topics include speculative attacks against fixed exchange rate regimes, models of target zone, and stopping hyperinflations. Usually offered every year.

Mr. Plummer

IEF 204a Accounting and Financial Analysis

Prerequisite: ECON 2a. This course may not be taken for credit by students who have received credit for ECON 12a.

Introduction to basic accounting principles, including analysis of financial statements using case studies. Develops fundamental concepts and accounts and applies them to income measurement, capital values, and costs, with a focus on international accounting issues. Usually offered every year.

Ms. Hughes

IEF 205a Financial Theory

Topics related to financial economics, including investors' attitudes toward risk, portfolio selection, asset pricing models (Capital Asset Pricing Model and the Arbitrage Pricing Model), options and future markets, the efficient market hypothesis, and the determinants of a firm's financial structure. Usually offered every year.

Mr. Chakraborty

IEF 210b International Corporate Finance

(Formerly IEF 111a)

Prerequisite: IEF 205a.

Analysis of the exposure of the multinational firm from accounting and economic perspectives, survey of investment finance, and other international operations. Usually offered every year.

Staff

IEF 211b Case Studies in International Finance

Analysis of international corporate finance using case studies in the areas of foreign exchange exposure management, corporate capital transactions, foreign investment analysis, international banking, and investment banking. Usually offered every year.

Ms. Hughes

IEF 212f Cases in International Financial Management

Open only to IEF students. Meets for one-half semester and yields half-course credit.

This course is designed to familiarize students with case method of analysis. The second is to stimulate creative thinking and discussions about key topics in international finance: foreign direct investment and financing decisions, foreign exchange risk management, and multimarket global management. Usually offered every year.

Ms. Hughes

IEF 213b International Portfolio Management

Prerequisite: IEF 205a

Concepts of Modern Portfolio Theory will be applied to a global framework. Topics covered will include asset allocation, portfolio selection for equities, portfolio selection for fixed income, currency management, and derivative strategies. Students will be involved on researching and presenting a paper on a global investment topic. Usually offered every year.

Staff

IEF 214a Financial Strategies

Focuses on the techniques used by financial practitioners to understand and then enhance shareholder value. Students taking the course will improve their skills in financial statement analysis, analyze alternative methods of valuation analysis, and examine an array of asset and liability restructuring techniques used by corporate managers and investment bankers to boost shareholder value. Usually offered every year.

Staff

IEF 214b International Business: Economics and Strategy

Concepts and evidence from industrial organization and international trade are applied to problems of business strategy, focusing on competition in international markets. Specific topics include the structure of competition in international industries and the role of institutions such as trading firms and countertrade. The course also examines the role of government through regulation and state­owned enterprise. Usually offered every year.

Staff

IEF 215b Options and Derivatives

This course examines financial innovations in the securities market including futures and forward contracts, options, and swaps. Valuation of these contracts and their use as dynamic hedging instruments will be examined in detail. The role of secondary mortgage markets and the various derivative mortgage products will also be analyzed in the context of asset-backed lending. Usually offered every year.

Mr. Chakraborty

IEF 216b Corporate Financial Operations

This course focuses on the techniques used by corporate financial mangers to assure liquidity and to minimize the risk of bankruptcy. In addition to liquidity assessment, the course will examine investment of surplus funds, cash management, risk management, credit and accounts receivables analysis, inventory management, and short-term financing alternatives. Usually offered every year.

Mr. Alt

IEF 217f Private and Public Providers of Development Finance

Open only to IEF students. Meets for one-half semester and yields half-course credit.

The course traces the changing roles, objectives, and decision-making processes of private and public capital providers, and examines how they develop, negotiate, and evaluate proposals for funding. Various organizations are surveyed, including the International Monetary Fund, the World Bank, private commercial and investments banks, and insurance companies. Usually offered every year.

Mr. Morss

IEF 218f Foreign Exchange Markets

Open only to IEF students. Meets for one-half semester and yields half-course credit.

The aim of this course is to provide a systematic understanding of foreign exchange markets. The topics include participants and uses of foreign exchange markets; determination and forecasting of foreign exchange rates; and forwards, futures, swaps, and options. The class will conclude with several sessions using a computerized foreign exchange trading simulation program. Usually offered every year.

Ms. Hughes

IEF 219f International Banking

Open only to IEF students. Meets for one-half semester and yields half-course credit.

This course will provide a survey of international banking. Topics will include structures and functions of global banks, financial innovations, syndications, offshore banking centers, supervision, and risk analysis. Students will use case studies and will form teams to perform a country analysis project. Usually offered every year.

Ms. Hughes

IEF 220b International Management

Examines both the international environment and the nature and form of international business arrangements, with special focus upon the strategic management of multinational enterprises. Reviews relevant trade and investment theories, develops case studies in the management of key functional areas (finance, production, marketing, and human resources), and concludes with concepts of strategic planning. Usually offered every year.

Mr. Rugman

IEF 221b Laboratory in International Business

Covers the internationalization of U.S. business through direct observation and participation in decisions faced by area companies. Some students research case studies describing the past export experiences of companies, while others prepare consultant reports for companies that are currently developing internationalization strategies. Students work independently in small teams supervised by faculty. Usually offered every year.

Mr. Ruth

IEF 222f Law of International Transactions

Open only to IEF students. Meets for one-half semester and yields half-course credit.

The course examines the legal regimes governing international financial transactions. The course will review legal nomenclature, the formation and performance of contracts, and legal structures affecting financial rights and interests. Various instruments will be discussed, including letters of credit, loan and security documents, prospectuses, and underwriting agreements. Usually offered every year.

Mr. Mirfendereski

IEF 223b Fixed Income Securities

Focuses on capital markets and, in particular, analysis of debt securities and markets, conventions, mathematics, and relative valuation. Emphasis is placed on factors determining market expected yields such as default risk, liquidity, terms, optionality, and structure. Usually offered every year.

Mr. D'Vari

IEF 225b Global Marketing Strategy

Starting with a brief overview of marketing disciplines, the course will develop strategies for entering and operating in diverse international markets at varying levels of investment. The case study method will be used to examine the process that leads to a successful marketing strategy, including financial analysis, economic and geographic evaluation, cultural and political assessment, and infrastructure evaluation. Usually offered every year.

Mr. Estrada

IEF 226b Frontiers of International Finance

This course consists of two parts that each explore a different area of financial theory. The first part examines the interaction between economics and investing in the real global economy; the second part examines the interaction between managers, stockholders, and corporate structure.

Messrs. Chakraborty and Harrison

IEF 228b Case Studies in International Business

The course provides theoretical and practical insights into the roles of corporate strategies and government policies in forging competitive advantage in forms and industries. Case studies are used to examine critical management issues, as well as the political and ethical dimensions of international business. Usually offered in odd years.

Staff

IEF 230b Managing International Business

Firms compete internationally through trade, foreign investment, and alliances. To succeed, they need to manage three sources of competitive advantage: country environments, firm capabilities, and government policies. Using case discussion, we will analyze the international strategies of U.S., Japanese, and European firms. Usually offered every year.

Mr. Gomes-Casseres

IEF 235b Entrepreneurship

The course addresses the fundamentals of starting and growing a business, including entrepreneurial finance and financial management. The course covers both theory and practice, and includes presentations by speakers engaged in entrepreneurship, underwriting, and venture capital. Assignments include a team project to construct a business plan for a startup company using actual data. Usually offered every year.

Mr. Subramaniam

IEF 235f Entreprenurial Management

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Prepares students to start and nurture their own business. Attempts to develop the attitudes, skills, and knowledge that will support that activity. Focus will be on the issues, ideas, and approaches that define successful ìbootstrapî ventures. First concentrating on identifying and evaluating potential opportunities, then looking at defining and securing start-up resources. Usually offered every year.

Mr. Reed

IEF 236f Transitional Negotiations

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Explores the dynamics of international business negotiations in the context of evolving global industries. Students will develop an understanding of negotiation strategy, positioning and process, as well as the skill necessary to effectively design, negotiate, and manage transnational deals. Usually offered every year.

Ms. Rosansky

IEF 237b Organizational Behavior

Examines leadership styles and the effects of organizational structure, policy, vision, and culture on the behavior of stakeholders, employees, consumers, stockholders, legislative bodies, and the like. Cases and exercises are used extensively. Usually offered every year.

Ms. Rosansky

IEF 246f Frontiers of International Business

Open only to IEF students. Meets for one-half semester and yields half-course credit.

International business practice evolves continually as firms create new ways of competing and responding to new global pressures. This seminar explores recent and future management trends by focusing on the current research of the school's faculty. Topics will vary from year to year. Usually offered every year.

Mr. Gomes-Casseres

IEF 247f Workshop in International Business

Open only to IEF students. Meets for one-half semester and yields half-course credit.

International business is a dynamic and eclectic field of research. This seminar provides a survey of seminal studies and findings, as well as an opportunity to explore new research questions. Students will develop and share their own ideas for original research in international business. Usually offered every year.

Mr. Gomes-Casseres

IEF 248b International Business Enterprise

Focuses on the planning and implementation of international business strategies. Particular emphasis is placed on how internationally competitive firms are structured, managed, and strategically positioned to compete effectively in the global marketplace.

Ms. Rosansky

IEF 255f Asian Economic Miracles

Open only to IEF students. Meets for one-half semester and yields half-course credit. This course may not be repeated for credit by students who have taken ECON 163a in previous years.

Examines the "Asian Success story"--the reasons why successful economic development continues along the Pacific Rim. Considers the strong gains in aggregate output, industrial production, trade, poverty reduction, life expectancy, literacy rates, and other socioeconomic variables. Investigates the reaction of the United States to the growth in the Asian region. Usually offered every year.

Mr. Plummer

IEF 256f Asia-Pacific Economic Cooperation

Open only to IEF students. Meets for one-half semester and yields half-course credit. This course may not be repeated for credit by students who have taken ECON 163a in previous years.

Considers the future of Asia-Pacific economic cooperation, both through "informal" (i.e., market-driven) and "formal" (i.e., policy-driven) channels. Focuses on the newly formed Asia-Pacific Economic Cooperation (APEC), an organization of 18 countries along the Pacific Rim--including the United States--that have pledged the creation of free trade and investment by the year 2020. Usually offered every year.

Mr. Plummer

IEF 272f International Political Economy

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Provides an introduction to theories of international political economy and an application of these approaches to issues of trade, monetary relations, and finance. Readings and discussion focus on issues of conflict and cooperation; the relationship between the international system and domestic politics; economic growth, development, and equity; and the connection between the study of economics and politics. Usually offered every year.

Mr. Gomes-Casseres

IEF 280f Introductory Statistics I

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Prepares students who do not have a statistics background to take economics, finance, and econometrics courses involving considerable statistical analysis. No prior knowledge of statistics is required. Usually offered every year.

Mr. Hu

IEF 281f Information Management

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Surveys of quantitative techniques and computer tools in management information systems including database manipulation. Objective of the course is to help students acquire advanced computer skills through cases and hands-on applications. Usually offered every year.

Ms. Nelson

IEF 282f Financial Modeling

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Introduces quantitative modeling techniques for analyzing the financial performance of projects and companies and valuing earning streams. A key objective is to help students develop sophisticated skills in using spreadsheets and related software through cases and hands-on applications. Usually offered every year.

Ms. DiPietro

IEF 283a Quantitative Methods in Economics and Management

Survey of quantitative techniques and computer tools in three important application areas: management information systems, data analysis and forecasting, and financial simulation. The techniques covered include database manipulation, econometric estimation, and simulation modeling. A key objective of the course is to help students acquire advanced computer skills through cases and hands-on applications. Usually offered every year.

Mr. Petri

IEF 283f Introduction to Econometrics

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Survey of quantitative techniques and computer tools in data analysis and forecasting, including econometric estimation. The course will include case studies and the use of computer applications. Usually offered every year.

Ms. Nelson

IEF 284b Econometrics with International Applications

Econometric theory and applications. Discusses the statistical theory of regression modeling and associated hypothesis testing, with emphasis on the construction, interpretation, and use of econometric models. Usually offered every year.

Mr. Lewbel

IEF 286f Managerial Accounting and Control

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Intermediate-level managerial accounting with special emphasis on applications to managerial decision making for strategic purposes. Covers conceptual and technical skills needed to manage financial and strategic control problems facing analysts and managers. Areas covered include: cost behavior, understanding strategy in the context of managerial financial decisions, and the nature of strategic planning and managerial control. Usually offered every year.

Mr. Chilingerian

IEF 287f Financial Systems Analysis

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Designed to develop skills in analyzing external financial reports. Topics include: financial statements terminology, mergers and acquisitions, cash flow analysis, and foreign exchange and foreign tax issues. Usually offered every year.

Staff

IEF 291b Cases in International Economics and Finance

This course uses a case-method approach to a number of analytical topics in international economics and finance. Important areas of concentration include the economics of international organizations, project evaluation, financial issues in emerging markets, Asian economic development, and direct foreign investment. Usually offered every year.

Mr. Plummer

IEF 298b Independent Study

Normally available for a student who wishes to pursue advanced reading on research in a subject or field not available in the department's course listings. Usually offered every semester.

Staff

IEF 299a Master's Project

A student wishing to complete a master's project, under the guidance of a faculty advisor, may enroll in this course during his or her final semester in the master's program. Projects may involve a short analytical thesis, the solution of an applied problem, or a report on work completed in an appropriate internship. Usually offered every year.

Staff

IEF 300a Readings

Staff

IEF 301a Advanced Microeconomics I

Study of the theories of microeconomics including optimization, theory of the firm, theory of the consumer, duality theory, general equilibrium, welfare economics, public goods, and externalities. Usually offered every year.

Mr. Lewbel

IEF 301b Advanced Microeconomics II

Investigates advanced topics in microeconomics including decision making under uncertainty, dynamic optimization, game theory and strategic interactions, imperfect competition and oligopoly theory, and information economics including moral hazard and adverse selection. Usually offered every year.

Mr. Jaffe

IEF 302a Advanced Macroeconomics I

Study of the modern theory of consumption, investment, the current account, and the implications of monetary and fiscal policy. Topics include inflation, unemployment, rational expectations, the impact of a government deficit, the determination of interest rates, and the behavior of exchange rates. Long-run properties of short-run models and the microeconomics of macro models. Usually offered every year.

Mr. Dolbear

IEF 302b Advanced Macroeconomics II

Current research issues in macroeconomics, such as the impact of supply shocks, real demand shocks, and monetary shocks on output, interest rates, and exchange rates. Empirical studies and testing of competing macroeconomic theories. Usually offered every year.

Mr. DeNicoló

IEF 305a Financial Theory

An introduction to capital market theory and the theory of corporate finance. Usually offered every year.

Mr. Chakraborty

IEF 315f Topics in Finance

Open only to IEF students. Meets for one-half semester and yields half-course credit.

The course covers key empirical areas of modern finance by focusing on seminal papers in the field. Topics include asset pricing, implications and testing, the distribution of returns, predictability, efficient markets, mean-variance frontier, and the equity premium. The course provides exposure to the methods and data used to test finance models and is intended to help students generate their own research. Usually offered every year.

Mr. Harrison

IEF 325a Transition Economics

This course examines the transformation of whole economic systems, as well as their parts, including financial systems, legal systems, and individual forms. Economic concepts, models, and methods are drawn from fields of comparative economic systems, comparative institutional analysis, industrial organization, and econometrics to analyze economic transition in the former socialist countries, economic liberalization in developing economies, and privatization in OECD countries. Usually offered every year.

Mr. Jefferson

IEF 335b Industrial Organization

Examines factors that affect the organization of industrial activity. The course includes cross-country studies of firm and industry structure and performance and their technological and institutional determinants, innovative behavior under comparative market multinationals and their strategic behavior, and comparative perspectives on the economic role of the state. Usually offered every year.

Mr. Jaffe

IEF 360b International Trade Theory

Topics include comparative advantage and general equilibrium; the factor-proportions theory and alternative explanations of trading patterns; trade with imperfect competition; commercial policy in the presence of domestic distortions; preferential trading blocs; exogenous and endogenous growth in open economics; and the evolution of the GATT system. Usually offered every year.

Ms. McCulloch

IEF 375b Development Economics

Reviews various models of growth and development, including models of project evaluation, household economic choice, long-run growth, technological change and human resource investment, and alternative development strategies. Includes extensive review of related empirical work which tests various hypotheses that emerge from the theoretical literature. Usually offered every year.

Mr. Jefferson

IEF 382a International Macroeconomics

Applications of macroeconomic theory to open economies. Topics include international parity theorems, models of exchange rate determination, and central bank management of the exchange rate. Usually offered every year.

Mr. Goldfajn

IEF 385f Time Series Econometrics

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Covers the tools of time series analysis and their application to macroeconomics and financial data modeling, estimation, forecasting, and testing. Topics include ARMA processes, VAR, unit roots, cointegration, and the ARCH family. The course focuses on current techniques and their actual use by data analysts. Usually offered every year.

Mr. Harrison

IEF 386f Empirical Macroeconomics

Open only to IEF students. Meets for one-half semester and yields half-course credit

Covers key empirical areas of modern macroeconomics by focusing on a selection of seminal papers. We investigate the relationship between the real economy and asset markets, money, inflation, the term structure of interest rates, exchange rates, and the business cycle.

Mr. Harrison

IEF 399a Dissertation Workshop

This course will involve invited lectures by Brandeis faculty and other researchers, and presentation and discussion of dissertation topics and work in progress. Usually offered every year.

Staff

IEF 399b Dissertation Workshop

This course will involve invited lectures by Brandeis faculty and other researchers, and presentation and discussion of dissertation topics and work in progress. Usually offered every year.

Staff