economics at Brown University
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Areas of Study in Economics

Applied Microeconomics: the use of data and econometric methods to test microeconomic theory, in the context of developed economies (see Development for work in developing countries). Applied micro is an umbrella term that includes labor, urban, education, industrial organization, public, health, and environmental economics.

Microeconomic Theory: Studies the behavior of individual households and firms making decisions regarding the allocation of limited or scarce resources. Includes game theory (the study of strategic decision making), decision theory (the study of preferences and uncertainties related to optimal choices), general equilibrium theory (how prices coordinate the choices of individual agents across multiple markets), and mechanism design (how changing the rules or institutions affects economic behavior and outcomes).

Macroeconomics: The study of the aggregate economic behavior of individuals. Macroeconomic theories consider the phenomena of output and income, interest rates, exchange rates, unemployment, and inflation as well as how monetary and fiscal policy tools can achieve certain policy objectives.

Development: the study of economic phenomena that occur in the context of "developing economies". This includes studying the effects of incomplete markets, low human capital (health, nutrition, and education), or a low degree of labor specialization. Oftentimes these problems are intertwined with weak institutions, corruption, or violent conflict.

Econometrics/Research Methods: Econometrics is a set of statistical tools that allows economists to test hypotheses using real world data

Finance/Investment/Strategy: A set of courses that both use and teach economic theory and other quantitative methods in the study of financial institutions and financial markets. They include many of the traditional pragmatic classes offered in an undergraduate business curriculum.

Economics History