International Economics (Fall 2020 - ITAM)
ECO-13101-002 (Tuesday 19:00-22:00, online / room RH 101)
ECO-13101-004 (Thursday 15:30-18:30, online / room RH 104)
Online class on International Trade by Professor Ronald W. Jones: 1,2,3,4
Other media: Charlie Rose's debate about NAFTA with James Goldsmith and Laura Tyson; Paul Krugman Prize Lecture; Russ Roberts on Smith, Ricardo, and Trade
Readings
Week 1: Introduction to international trade and static optimization [handout1, handout2; KOM2012chp1 and chp2; readings:(1)(2)]
Week 2: Pure exchange model and the Ricardian model [handout3; KOM2012chp3; readings:(1)(2)]
Week 3: Implications and extensions of Ricardian model; understanding non-traded sectors [handout4; KOM2012chp3, F2003chp1; readings:(1)]
Week 4: The specific factors model [handout5; KOM2012-chp4, F2003chp3; readings:(1)(2)]
Week 5: The Heckscher-Ohlin model [handout5, handout6; KOM2012chp5, F2003chp2: readings (1)(2)]
Week 6: Empirical evidence of classical trade models; gravity equations and Armington model [handout7;handout8, handout9; KOM2012chp2 and 6, F2003chp5; readings:(1),(2)]
Week 6: Empirical evidence of classical trade models; gravity equations and Armington model [handout7;handout8, handout9; KOM2012chp2 and 6, F2003chp5; readings:(1),(2); armington model matlab code]
Week 7: Revisions and the midterm [study topics; additional exercises; midterm solution]
Week 8: Inter/Intra sectoral trade; market power and increasing returns to scale [handout10; handout 11; KOMchp7, F2003chp5; readings:(1)(2)]
Week 9: The Krugman model [handout10; handout 11; KOMchp7, F2003chp5; readings:(1)(2)]
Week 10: Extensions of the Krugman model [handout12; KOM2012chp7, F2003chp5; readings:(1)]
Week 11: New new trade theory: Melitz Model [handout13; KOM2012chp7,8; readings:(1)(2)(3)]
Week 12: New new trade theory: Melitz Model (cont) [handout13; KOM2012chp7,8; readings:(1)(2)(3)]
Week 13: International trade policy, trade agreements, dumping and antidumping [handout14; KOM2012chp9/10; F2003chp7; readings:(1)(2)]
Week 16: Revisions for the final exam [Additional exercises; solutions]
Practice exercises: assignment 1; assignment 2; assignment 3; assignment 4; assignment 5
Practice exams: practice midterm 1; exam 1; practice midterm 2; practice midterm 3; practice midterm 4; practice midterm 5; midterm 6; midterm 7; exam 1; exam 2; exam 3; exam 4; exam 5; exam6; exam7; exam 8; exam 9
Assignments: homework 1 (deadline on the 13th of November);
Grades: final grades
Applied Economics Research Workshop (Fall 2020 - ITAM)
ECO-40211-001 (Thursday 19:00-22:00, online / room ST 103)
Please visit online platforms on Canvas and MS Teams
Additional materials
Week 1:
Materials: Pandemics and Economics; Economists’ contributions to understanding the covid-19 pandemic; Python examples and a SIR model
Additional papers mentioned in the class:
Inflation during covid-19: “Epidemics in the Neoclassical and New Keynesian Models” M. Eichenbaum, S. Rebelo, M. Traband; “Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages?”, Guerrieri, Lorenzoni, Straub, Werning
Allowing for fatigue of compliance: “An Economic Model of the Covid-19 Pandemic with Young and Old Agents: Behavior, Testing and Policies”, Brotherhood, Kircher, Santos, Tertilt
Week 2:
Materials: The classic epidemic model; Python examples covered in class
Additional papers mentioned in the class:
Optimal lockdown policies during covid-19 epidemic: “A Simple Planning Problem for COVID-19 Lockdown, Testing and Tracing”, Alvarez, Argente, Lippi
Week 3:
Materials: Estimation of Reproduction Numbers; Python examples covered in class
Additional topics mentioned in class:
Spatial heterogeneity econ-SIR model example (section 4 of the paper): “Economics and Epidemics: Evidence from an Estimated Spatial Econ-SIR Model”, Bognanni, Hanley, Kolliner, Mitman
Multiple state SIR model with markov transition matrix structure (see figure 1): “Reopening in an SEIR model with Testing and Targeted Quarantine”, Berger, Herkenhoff, Huang, Mongey
Python tricks (1): to run interactively python scripts inside a jupyter cell use “%run -i 'BSIR_baseline.py'"; if this doesn’t work try with “exec(open("script.py").read())”
Python tricks (2): sometimes you may need to install python libraries that are not in your system. This happens when you see an error in a command execution. In order to install libraries, for example the numpy library use “!pip install numpy“ or “!conda install --yes numpy“ inside a jupyter cell
Week 4:
Materials: Delays in covid-19 reports and implications for SIR estimation; An economic SIR model; Python examples used in class
Additional topics mentioned in class:
Paper on age heterogeneity and targeted lockdown policies: “Optimal Targeted Lockdowns in a Multi-Group SIR Model”, Acemoglu, Chernozhukov, Werning, Whinston
Week 5:
Materials: An economic SIR model; Python examples used in class
Additional topics mentioned in class:
Encoding issues with Greek letters in Windows: some of you mention that the python files where we stored SIR models scripts were not working properly and this was related with the fact that Greek letters would not show up in those files. This may be related with on how some editors, in particular Notepad on Windows encode the text documents. The standard format that reads properly Greek letters is a UTF-8. Other formats like ASCII ones may not read those symbols. In Windows you need to use a text editor that uses UTF-8 encoding format, for example, Notepad++. Notepad also uses UTF-8, but not by default (when you save text files, make sure this encoding is used). So, the easiest way of fixing the issue is to re-download the respective python file, and make sure you have an editor that reads that UTF-8 format. Then just use the jupyter notebook as usual.