M2 Economics

Nilsson Björn, Université Paris-Saclay_x000D_ _x000D_ Senne Jean-Noël, Université Paris-Saclay_x000D_ _x000D_ Wolfersberger Julien, AgroParisTech.

The course will be organized in 12 time-slots of 2 hours. _x000D_ _x000D_ The grade will be based on two elements: a written exam that will count for 70% of the mark, and a group research paper presentation that will count for the remaining 30%.

This course tackles advanced topics in Development Economics. It covers both macro and micro issues and refers to the most recent theoretical and empirical literature in the field. It is complementary to the Development Microeconomics course (M1). The course outline is the following:_x000D_
_x000D_
Chapter 1. International Migration, Remittances and Development (J-N. Senne)_x000D_
• Measurement and Stylized Facts_x000D_
• Theoretical Background_x000D_
• Empirical Evidence_x000D_
_x000D_
Chapter 2. Foreign Aid, Growth and Development (J-N. Senne)_x000D_
• Measurement and Stylized Facts_x000D_
• Theoretical Background_x000D_
• Empirical Evidence_x000D_
_x000D_
Chapter 3. Institutions, Governance and Development (J. Wolfersberger)_x000D_
• Measurement and Stylized Facts_x000D_
• Theoretical Background_x000D_
• Empirical Evidence_x000D_
_x000D_
Chapter 4. Long-term Growth and Structural Transformation (J. Wolfersberger)_x000D_
• Measurement and Stylized Facts_x000D_
• Theoretical Background_x000D_
• Empirical Evidence_x000D_
_x000D_
Chapter 5. Developing Country Labor Markets and the Informal Economy (B. Nilsson)_x000D_
• Specificities of developing country labor markets_x000D_
• Child labor as an economic problem _x000D_
• Size and rationale of the informal economy _x000D_
_x000D_
Chapter 6. Credit and Insurance (B. Nilsson)_x000D_
• Rural credit market failures and solutions_x000D_
• Risk coping strategies of households_x000D_
• Is it possible to insure the poor ?.

This course is both theoretical and empirical. It therefore presumes familiarity with basic economic theory (growth models, macroeconomic stabilization mechanisms, microeconomic principles). _x000D_ _x000D_ It also requires some background in the econometrics of evaluation and panel data. _x000D_ _x000D_ This course is complementary to the Development Microeconomics course (M1).

• Todaro & Smith (2015), Economic Development, 12th edition, Pearson. _x000D_ _x000D_ • De Haas H. (2012). The migration and development pendulum: A critical view on research and policy. International Migration, 50(3), 8-25._x000D_ _x000D_ • Rapoport H., & F. Docquier (2006). The economics of migrants' remittances. Handbook of the economics of giving, altruism and reciprocity, 2, 1135-1198._x000D_ _x000D_ • Lew B. (2015). Handbook on the Economics of Foreign aid. Edward Elgar Publishing._x000D_ _x000D_ • Brückner M. (2013). On the simultaneity problem in the aid and growth debate. Journal of

Janvier - Février - Mars - Avril.

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Michael Greinecker (ENS Paris-Saclay).

There will be homework problems counting for 30%, and 70% for a written assignment in the form of a referee report for a current working paper from the fiels. Bonus points are given for active participation.

This course introduces recent methods, models, and tools from contemporary information economics and the neccesary background material.
Learning Outcomes
Participants will be able to critically read large parts of the current research literature on asymmetric information, communication, and persuasion.
We start by discussing methods of modeling information and prove a version of Blackwell's theoreom on the comparison of information structures. We then look at correlated equilibria and their properties and discuss methods to implement correlated equilibria via cheap talk communication. We then go to games of asymmetric information and discuss appropriate generalizations of correlated equilibrium. In particular, we will look closely at the concepts of communication equilibrium and Bayes correlated equilibrium. We look at the canonical cheap talk model. Then we go on to look at Bayesian persuasion, a literature on the other end of the spectrum. We also look at recent work at cheap talk with “transparent motives” that elegantly connects the two literatures.

The students should have a good understanding and practice of basic calculus.

Lecture Notes will be made available before each unit. General overviews: Myerson, Roger B. "Communication, correlated equilibria and incentive compatibility." Handbook of game theory with economic applications 2 (1994): 827-847. Forges, Françoise. "Correlated equilibria and communication in games." Complex Social and Behavioral Systems: Game Theory and Agent-Based Models (2020): 107-118. Bergemann, Dirk, and Stephen Morris. "Information design: A unified perspective." Journal of Economic Literature 57.1 (2019): 44-95. Kamenica, Emir. "Bayesian persuasion and information design." Annual

Septembre - Octobre.

GIF-SUR-YVETTE

Grégory Verdugo.

This is an eight-weeks course meeting three-hours per week.

The evaluation will be based on an exam and a small written essay.

This graduate course is designed to present some of the most important topics in labor economics based on recent and influential research in these domains.

In the first section, we start by describing recent trends in wage inequality in developed countries, looking at the shape of the overall distribution and changes in the share of top incomes.

In the second section, we present the ‘canonical model’ of wage determination that has been the main theoretical framework in the literature on skilled biased technological change.

In the third section, we describe empirical evidence on job polarization in developed countries and present the tasks model that has become the leading model used to understand how automation changed the labor market. We discuss recent works using this approach to analyze the potential consequences of the rise artificial intelligence in inequality and the labor market.

In the fourth section, we present the main theoretical models used to analyze the impact of immigration in the labor market of receiving countries. We discuss the challenges related to the identification of a causal effect of immigration on the employment or wages of natives.

• Intermediate microeconomics;

• Intermediate Econometrics.

• Acemoglu, D., & Autor, D. (2011). Skills, tasks and technologies: Implications for employment and earnings. In Handbook of labor economics (Vol. 4, pp. 1043-1171). Elsevier.

• Acemoglu, D. (2002). Technical change, inequality, and the labor market. Journal of economic literature, 40(1), 7-72.

• Altonji, J. G., & Blank, R. M. (1999). Race and gender in the labor market. Handbook of labor economics, 3, 3143-3259.

• Dustmann, C., Schönberg, U., & Stuhler, J. (2017). Labor supply shocks, native wages, and the adjustment of local employment. The Quarterly Journal of Economics, 132(1), 435-483.

•

Septembre - Octobre - Novembre - Décembre.

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Orset Caroline, AgroParisTech

Pannequin François, ENS Paris-Saclay.

The course is divided into six chapters. Each chapter will combine theory and practice. Many case studies will be presented to students.

This course will be focused on the methodology of experimental economics and its application to specific topics, such as individual decision making under risk and uncertainty, social interactions and social decision making. This course will also provide insights into behavioral economics. Students will learn how to design experiments, interpret their results and will be expected to design their own experiments.

Main Topics:
1. Introduction: Background about the behavioral economics and experimental methods.
2. Methodology: Experimental method, Advantages and Limitations of Laboratory Experiments
3. Individual decision making
3.1. In a risky context: the expected utility model; Risk attitude, premium, aversion; the rank-dependent expected utility model; Loss aversion and Prospect theory; Intertemporal choice and time discounting; Overconfidence; Bounded rationality and limited attention.
3.2. Uncertain context: Savages’ subjective expected utility model; the rank dependent models in the uncertain; The KMM model; The attitude towards uncertainty.
4. Decision making in social interactions
4.1. Game theory: Basics, Cooperation and Bargaining Behavior.
4.2. Non-standard preferences in social interactions.
5. Social decision making
5.1. Empirical evidence for behavior in social interactions
5.2; Social enforcement mechanisms of pro-social behavior
6. Applications: field and laboratory experiments, and survey
6.1. Insurance
6.2. Prevention in health, environment and/or food.

None.

• Dhami S (2016), The Foundations of Behavioral Economic Analysis, Oxford.

• Eeckhoudt, L., Gollier, C., & Schlesinger, H. (2005). Economic and financial decisions under risk. Princeton University Press.

• Elster J (2007), Explaining social behavior: more nuts and bolts for the social sciences, Cambridge University Press.

• Gollier C (2004), The economics of risk and time, MIT Press.

• Holt CA (2019), Markets, Games, and Strategic Behavior: An Introduction to Experimental Economics, Princeton University Press.

• Kagel JH and Roth AE (2016), The Handbook of Experimental Economics, Princeton

Septembre - Octobre - Novembre - Décembre.

Gif

Tripier Fabien, Université d’Évry Val d'Essonne.

The course covers four topics for each of which it provides foundations of theoretical models, insights drawn from the empirical researches, and assessments of macroeconomic policy decisions.

The course covers four topics on the links between financial markets and the macroeconomy.

Topic #1: Does finance support long-term growth?
While a considerable number of studies have argued that the development of finance is key for long-term growth, recent researches questions these results by highlighting its potentially harmful role in terms of resource allocation.

Topic #2: What lessons can be drawn from the historical financial series for macroeconomics?
New historical databases for financial and macroeconomic series allow to study almost one and half century of crises, cycles, and growth.

Topic #3: Why has business cycle theory neglected financial factors?
The theory of cycles integrated the role of financial frictions in the 1990s. Yet they were absent from the reference models in the 2000s. Why? And how the models of the 2010's have given an explicit role to financial factors again in the business cycle.

Topic #4: Uncertainty fluctuations: a new driver of business cycles?
Uncertainty is a longstanding issue in economic theory. What has been new over the past decade is that a large number of databases have developed to measure cyclical fluctuations in uncertainty. Then, it arises the question of the contribution of these fluctuations in uncertainty to business cycles and the role of financial markets in their transmission to the real economy.

Undergraduate courses in macroeconomics, financial economics and econometrics.

• Arcand, Berkes & Panizza, U. (2015). Too much finance? J. of Econ. Growth 20(2).

• Barro (2006). Rare disasters & asset markets in the 20th century. The Quarterly J. of Economics 121.

• Bernanke, Gertler & Gilchrist (1999). The financial accelerator in a quantitative business cycle framework. Hand. of macro. 1.

• Bloom, Floetotto, Jaimovich, Saporta?Eksten & Terry (2018). Really uncertain business cycles. Econometrica 86(3).

• Bloom (2014). Fluctuations in uncertainty. J. of Econ. Perspectives 28(2).

• Cochrane (2005). Financial markets & the real economy. Foundations and Trends® in Finance

Septembre - Octobre - Novembre - Décembre.

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Chambolle Claire, INRA

Molina Hugo, INRA.

Industrial Organization is the field of economics that is concerned with the structure of markets and the firms’ strategies in these markets. This course emphasizes the importance of combining economic theory and econometric techniques to answer empirical questions in Industrial Organization.

This course first presents the main theoretical models of competition in oligopoly industries and vertically related markets. Emphasis is given to pricing, advertising and innovation strategies of firms in a static and/or a dynamic perspective. Horizontal and vertical mergers are the key ingredients of the analysis of market structure.
The class then introduces recent methods in empirical IO that combine theoretical models with data, econometric techniques, and computer programming to answer challenging economic questions. We will see how the development of such empirical methods have proved useful in understanding the structure of markets as well as the strategic behavior of firms and their consumers.

Theory

• Belleflamme, P. and M. Peitz, “Industrial Organization: Markets and Strategies”, Cambridge University Press.

• Tirole, J. “The Theory of Industrial Organization”, The MIT Press.

Empirics

• Berry, Steven T. 1994. “Estimating Discrete-Choice Models of Product Differentiation.” RAND Journal of Economics, 25(2): 242–262.

• Bresnahan, Timothy F. 1989. “Empirical studies of industries with market power,” Handbook of Industrial Organization, Volume 2, Chapter 17, 1011–1057.

• Reiss, Peter C., and Frank A. Wolak. 2007. “Structural Econometric Modeling: Rationales and Examples from Industrial

Septembre - Octobre - Novembre - Décembre.

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Kempf Hubert, ENS Paris-Saclay.

This course consists in twelve two-hour lectures.

The aim of this course is to provide an introduction to "political economics". Political economics is the (sub)discipline which analyses political decisions from the perspective of choice theory, as developed in economics.It thus provides a «positive» analysis of political decisions, taken by voters, politicians or interestgroups, and of the impact of political decisions on policy outcomes.

1.Elections and voting (Electoral competition, partisan politicians, probabilistic voting).

2.Voting in practice.

3.Redistributive politics and public good provision.

4.Lobbies and special-interest groups.

5.Credibility and time-inconsistency.

6.Political delegation.

7.Bargaining political outcomes.

8.Buraucrats and bureaucracies.

9.Political business cycles.

10.Dynamic Political Economy (Government Debt, Legal and Fiscal Capacity, tyranny of the status quo).

The course is an advanced course, using tools developed in microeconomics, agency theory, public economics and macroeconomics. Analytically, it delves upon theories and analyses developed in game theory and optimization techniques.

• Acemoglu D. and J. Robinson, 2006. Economic origins of dictatorship and democracy. Cambridge University Press.

• Austen-Smith David and Jeffrey Banks, 2005, Positive Political Theory I and II, University of Michigan Press.

• Besley, T., 2006, Principled Agents, Oxford University Press.

• Besley, T and T. Persson, 2011, Pillars of Prosperity, Princeton University Press.

• Grossman G. and E. Helpman, 2001, Special interest politics, MIT Press.

• Drazen, A., 2000, Political Economy in Macroeconomics, Princeton University Press.

• Persson, T. and G. Tabellini, 2000, Political Economics

Septembre - Octobre - Novembre - Décembre.

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Gif

Senouci Mehdi, CentraleSupélec.

Lectures with pre-reading of 2/3 papers by the students before each session.

Evaluation through written exam + presentations, and a referee report or a research project.

The aim of this course is to get the students acquainted with some of the major facts and issues of economic growth, through modern research and with a focus on the long-run. Economic growth is full of puzzles. Several growth regimes have been observed throughout History, from the Malthusian era to the Great Moderation. Structural breaks lie at the interface between two growth regimes, which appears in stark contrast with the smoothness of the basic neoclassical analysis of economic growth.

This course considers economic growth over the long-run as a complex, but still unified, phenomenon. The question that will be addressed this year are “How did agriculture appear and diffuse?”, “What was the Industrial Revolution and how did it diffuse?”, “What are the possible explanations to the Great Divergence?”, “What was the demographic transition and how did it happen?”, “Why isn’t the whole world developed in 2020?”. The last part of the course will present recent pieces of theory and empirics around the notion of biased technical change.

Topics covered:
1.The neoclassical analysis of economic growth
2.The spread of agriculture
3.The Industrial Revolution and the Great Divergence
4.The demographic transition
5.Innovation and technology adoption since World War 2
6.Biased technical change.

Maximization methods, theoretical treatment of dynamic models, interpretation of regression tables.

• Allen 2009 The British Industrial Revolution in Global Perspective, CUP • Becker & Barro 1988 “A Reformulation of the Economic Theory of Fertility” Quarterly Journal of Econ. • Comin & Mestieri 2014 “Technology Diffusion: Measurement, Causes & Consequences” Hand. of Econ. Growth, Elsevier V.2 • Comin & Nanda forth “Financial Development & Technology Diffusion” IMF Econ. Review • Diamond 1997 Guns, Germs & Steel, Norton&Co • Galor 2005 “From Stagnation to Growth: Unified Growth Theory” in Hand. of Economic Growth, Elsevier V.1A • Karabarbounis & Neiman 2014 “The Global Decline of the Labor

Septembre - Octobre - Novembre - Décembre.

Sceaux

All faculty members teaching in the Master.

The purpose of the research master thesis is to enable students to deepen their knowledge and understanding of a specific economic subject of their choice. Students will be expected to explain the context of their research, specify the main and secondary objectives of their project, through a theoretical and/or an empirical original and innovative analysis, and produce a reasoned discussion synthesizing their results and specifying the advantages and limitations of their study.The oral defense will be organized as a simulation of a research seminar and the manuscript will be structured along the lines of a reseach paper.

Septembre - Octobre - Novembre - Décembre - Janvier - Février - Mars - Avril - Mai - Juin - Juillet.

Gif

Guillard Michel, Université d’Évry Val d'Essonne.

Lectures.

This course presents some of the most important topics in macroeconomic theory and Policy. Topics include the link between monetary and fiscal policy, output and inflation fluctuations and their costs in terms of welfare.

Monetary and Fiscal Policy in a Simple New Keynesian Model
• Reminder of the foundations of the 3-equations NK model

Optimal Monetary Policy and Monetary Policy Rules
• Normal Times and Liquidity Trap

The Role and Effects of Government spending
• Optimal level and optimal composition of public spending in small vs deep recessions

Second Best Optimal Fiscal Policies and other topics on fiscal policy
• Optimal fiscal policy with distortionary taxes in equilibrium models
• Fiscal Theory of the Price level. Unconventional fiscal policies

The Role and Effects of Transfers in Heterogeneous Agents Economies
• Causes and consequences of the breakdown of the Ricardian equivalence due to heterogeneities in age, preferences or abilities
• Optimal transfers in normal times and in recessions

Government Debt, Fiscal Sustainability, and Sovereign Debt Crisis
• Measures of fiscal/debt sustainability
• Theories and facts about sovereign defaults and debt crises.

FFrst year macroeconomics courses of Master's degree (Theories, Methods and Tools).

• Gali?, Jordi (2015): Monetary Policy, Inflation and the Business Cycle. An Introduction to the New Keynesian Framework, Princeton University Press (Princeton, NJ), 2ed.

• Ljungqvist, Lars and Thomas Sargent (2018) : Recursive Macroeconomic Theory, 4th Ed. MIT Press Book. Walsh, Carl E. (2010): Monetary Theory and Policy, Third Edition, MIT Press (Cambridge, MA).

• Wickens Michael (2011): Macroeconomic Theory: A Dynamic General Equilibrium Approach, 2nd Ed. Princeton University Press, Princeton.

• Woodford, Michael (2003): Interest and Prices. Foundations of a Theory of Monetary Policy

Septembre - Octobre - Novembre - Décembre.

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De Sousa José, Université Paris-Saclay.

The course will be organized in 6 time-slots of 2 x 2 hours or 8 time-slots of 3 hours. _x000D_ _x000D_ Grading is based on two parts: one mandatory, one optional:_x000D_ 1. The first part is optional. It consists in a joint presentation of suggested papers: 20 minutes of presentation and 10 minutes of discussion._x000D_ 2. The second part is mandatory. It consists in an individual written referee report on suggested papers. Each student should pick one paper to review.

This course is focused on understanding globalization, which describes the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Globalization can be a hard sell to the public because the benefits are widely distributed and not as easily understood, compared with the personal costs to very specific companies or workers. Economic globalization necessarily leads to benefits and costs to different individuals and areas, thus invoking concerns about inequality. These issues will be discussed in the course, and for each issue, we will look into the forces behind globalization, the current situation, pros and cons, gainers and losers, as well as future prospects. _x000D_
_x000D_
Road map_x000D_
_x000D_
1. Globalization and inequality between countries_x000D_
2. Globalization and inequality in developed and developing countries_x000D_
3. Globalization and economic development_x000D_
4. Globalization and culture_x000D_
5. Globalization and violence_x000D_
6. Globalization and gender_x000D_
7. Globalization, robots and artificial intelligence.

• Good econometric skills_x000D_ _x000D_ • Basic knowledge of international trade and trade policies theories_x000D_ _x000D_ • Basic knowledge of growth and economic development theories.

• Atkin D. (2013), "Trade, tastes, and nutrition in India", American Economic Review, 103(5), 1629-1663._x000D_ _x000D_ • Baldwin R. (2016). The great convergence. Harvard University Press._x000D_ _x000D_ • Autor D., Dorn D. & Hanson G.H. (2013). "The China Syndrome: Local Labor Market Effects of Import Competition in the United States." American Economic Review, 103 (6): 2121-68._x000D_ _x000D_ • De Sousa J., Mirza D. & Verdier T. (2018). "Terror networks and trade: Does the neighbor hurt?" European Economic Review, 107: 27-56._x000D_ _x000D_ • Donaldson D. (2018). "Railroads of the Raj

Janvier - Février - Mars - Avril.

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Bayramoglu Basak, INRA

Gozlan Estelle, INRA.

The course is divided in 8 time-slots of 3 hours. The evaluation will be based on a mix of individual presentations of research articles, and a final test.

1.Introduction, game theory concepts (prisoners’ dilemma, coordination games, Nash bargaining solution) 2.Canonical model of membership to an international environmental agreement (IEA) 3.Extensions to the membership model (monetary transfers, technology agreements) 4.Extensions to the membership model (trade and trade policies, and adaptation to climate change) 5.Evaluation of IEAs 6.Introduction to trade agreements: terms-of-trade externalities and the rationale behind the GATT/WTO 7.Empirical analysis of trade agreement efficiency 8.Trade agreements on fish subsidies 9.Trade agreements and BTAs 10.Evaluation of trade agreements and trade disputes

Final exam.

This course presents the theory and empirics of international negotiations between States. Interactions between countries are strategic when a country’s payoff from a policy depends on the policies of other countries. This is of particular importance for two main channels through which countries interact: international trade and transboundary environmental problems (e.g. climate change, water pollution, and transboundary fish stocks). This course focuses on the theoretical analysis and empirical evaluation of environmental and trade agreements.
To analyze the incentives of countries to participate to international environmental negotiations, the course will mobilize game theory, in particular bargaining models and the concept of coalition stability. The course starts with the presentation of the canonical membership model to international environmental agreements, and then presents its several extensions (monetary transfers, technology agreements, trade and trade policies, and adaptation to climate change, etc.). To analyze the incentives of countries to participate to trade agreements, the course presents the canonical model of trade negotiations and its extensions to agriculture, fisheries, and Border Tax Adjustments (BTA)s. For both environmental and trade agreements, the course also provides the state-of-art empirical evaluations (ex-post evaluations, experiments and case studies).

This course requires an economics training at level M1, in particular in game theory and international trade. Mathematical skills at level L2 (optimization) are expected.

• Bagwell, Staiger (2001a) "Domestic policies, national sovereignty & intern. econ. institutions", QJE 116(2): 519-562. • Barrett (1997). The strategy of trade sanctions in intern. environ.l agreements. Resource & Energy Econ., 19(4), 345-361. • Barrett (2005), The theory of intern. environ. agreements, Hand.of Environ. Econ. Elsevier, Chap.28. • Bayramoglu, Finus & Jacques (2018). Climate agreements in a mitigation-adaptation game. J. Pub. Eco, 165, 101-113. • Ederington "Should trade agreements include environ. policy?" (2009): 84-102. • Finus (2008). Game theoretic research on the design of

Janvier - Février - Mars - Avril.

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Matthieu Crozet, Paris Saclay.

The exam consists of an essay of 10 pages related to the determinants and effects of multinational firms. The student will choose among a list of prepared topics or developed her/his own subject.

This lecture covers advanced topics in international economics with a special emphasis on the activity of multinational firms. Topics include the role of multinational firms in the global economy, in particular the determinants and effects of multinational foreign activities, and the effect of international outsourcing on industrial development._x000D_
_x000D_
General Introduction_x000D_
_x000D_
Part 1: The Proximity Concentration Trade-Off _x000D_
_x000D_
1. Symmetric case_x000D_
2. Asymmetric countries_x000D_
3. Wage differences_x000D_
4. Merger & Acquisition_x000D_
_x000D_
Part 2: Vertical FDI and the Labor Market _x000D_
_x000D_
1. A simple model… with lots of empirical consequences_x000D_
2. Empirical Analysis_x000D_
_x000D_
Part 3: Outsourcing vs. FDI _x000D_
_x000D_
1. Transaction costs Approach_x000D_
2. Property-Right Approach_x000D_
3. The Global Value Chain.

The material covered is not mathematically complex, but it is taught in a formal and rigorous manner, which assumes a good familiarity with basic economic concepts. This lecture will also require a good background in international economics and microeconometrics.

The list of papers associated to the lecture are to be found on http://faridtoubal.com/FDIM2.

Janvier;Février;Mars;Avril.

Sceaux

Lafourcade Miren, Université Paris-Saclay.

The course will be organized in 6 time slots of 2 x 2 hours or 8 time-slots of 3 hours.

The final grade will be based on two elements: a written exam that will count for 50% of the mark, and a team project consisting in writing and defending a refeering report on a research paper related to the course, that will count for the other 50%.

In this course, we will study the main economic forces that lead to the existence of spatial inequalities between countries or regions, cities and neighborhoods within countries. The course outline will be the following:

• Lecture 1: Spatial Inequalities: An Overview
• Lecture 2: The Core-Periphery Model of Economic Geography: Theory and Practice
• Lecture 3: The Bell-Shaped Curve of Spatial Development: Theory and Practice
• Lecture 4: An introduction to Urban Economic Theory
• Lecture 5: Benefits and Costs of Living in Cities
• Lecture 6: Success and Failure of Place-Based Policies

The first lecture starts with some empirical insights on spatial inequalities. The second lecture presents the theoretical and empirical mechanisms explaining the colocation of firms and households, with a particular focus on the trade-off between transport costs and increasing returns to scale. The third lecture explains why spatial economic development is bell-shaped: while the first stage of economic integration pushes firms and mobile workers to congregate in specific “core” regions, a more advanced stage of development benefits to the “peripheral” regions. The fourth lecture is an introduction to urban economic theory. The fifth lecture investigates the benefits and costs of living in cities, with a special focus on labour productivity gains and housing or pollution costs. The course ends with some empirical insights on place-based policies.

• Basic knowledge of international trade theories

• Good microeconomic and econometric skills.

• Cheshire, Nathan and Overman (2014), Urban Economics and Urban policies: Challenging conventional policy wisdom, Edgar Elgar.

• Combes, Mayer and Thisse (2008), Economic Geography. The Integration of Regions and Nations, Princeton University Press.

• Crozet and Lafourcade (2009), La Nouvelle Economie Géographique, La Découverte, Repères n°542.

• Fujita, Krugman and Venables (1999), The Spatial Economy, Cities, Regions and International Trade, MIT Press.

• Fujita (1999), Urban Economic Theory: Land Use and City Size, Cambridge University Press.

• Lafourcade and Mayneris, 2017, En finir avec

Janvier - Février - Mars - Avril.

Sceaux

All faculty members teaching in the Master.

The purpose of the research master thesis is to enable students to deepen their knowledge and understanding of a specific economic subject of their choice. Students will be expected to explain the context of their research, specify the main and secondary objectives of their project, through a theoretical and/or an empirical original and innovative analysis, and produce a reasoned discussion synthesizing their results and specifying the advantages and limitations of their study.The oral defense will be organized as a simulation of a research seminar and the manuscript will be structured along the lines of a reseach paper.

Septembre - Octobre - Novembre - Décembre - Janvier - Février - Mars - Avril - Mai - Juin - Juillet.