Phd PROGRAMME in ECONOMICS
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2013/2014 PhD PROGRAMME in ECONOMICS Faculdade de Economia www.eeg.uminho.pt www.fe.uc.pt Index 1 Objectives and Purposes 1.1 Welcoming Message 3 1.2 Partner Institutions: EEG-UM and FEUC 4 2 Doctoral Programme 2.1 Study Plan 6 2.2 First Year Exam 6 2.3 Syllabus 7 2.4 Faculty Integrated in the Research Units 11 2.5 Thesis Supervision 13 2.6 Thesis and Doctoral Degree Defense 13 3 Functioning 3.1 Venues 15 3.2 Calendar and timetable 16 3.3 Language of Instruction 18 3.4 E-learning Platforms 18 3.5 Libraries, Databases and Software 19 3.6 Study Rooms and Computer Labs 20 3.7 Administrative Services Contacts 22 3.8 Merit Awards and Opportunities for collaboration in the EEG-UM and FEUC 22 3.9 Scholarships Awarded by Other Institutions 22 3.10 Internationalisation 23 3.11 Access to the Parking Lot at UM 23 3.12 Tuition Fees 23 3.13 Other Information 23 3.14 Campus Map 24 1.1 Welcoming Message The PhD Programme in Economics aims to endow doctoral students with advanced and thorough scientific education in Economics, enabling them to conduct high-level research and perform professional work involving reliable and demanding economic analysis. Since the academic year of 2009/2010, the programme has been jointly offered by the Department of Economics, School of Economics and Management at the University of Minho (EEG-UM) and the Faculty of Economics at the University of Coimbra (FEUC). The PhD programme relies on the use of the best human re- sources available in the two universities, in the fields of research and advanced education. Its quality rests upon a highly educated faculty holding doctoral degree awarded by prestigious European and American universities and whose research excellence is documented by a large number of publications in international scientific journals. The academic calendar has been designed in order to facilitate and encourage mobility of students between the two partner institutions. Many complementary activities are offered to students, including advanced training courses in specialized topics, conferences and seminars, hence contributing to the enhancement and refinement of their general and specific skills. Students are also offered the opportunity to participate in other research and training activities organized by both universi- ties. The programme aims at offering students a high quality educa- tional experience, whilst effectively preparing them for an active life in an increasingly globalised world. If you are looking for an education embodying such characteristics, we are sure that the Ph.D. in Economics is an excellent choice. Executive Board Universidade do Minho Universidade de Coimbra Linda Veiga (Head) Paulino Teixeira (Head) Natália Barbosa Pedro Bação Luis Aguiar-Conraria PhD PROGRAMME in ECONOMICS - University of Minho (EEG-UM) | University of Coimbra (FEUC) 3 1.2 Partner Institutions: EEG-UM and FEUC The School of Economics and Management of the University of Minho (EEG-UM) and the Faculty of Economics of the University of Coimbra (FEUC) together have more than 60 researchers holding a PhD, who work in a large spectrum of areas of Eco- nomics. University of Minho (EEG-UM) University of Coimbra (FEUC) At the University of Minho, scientific research is developed within The international training of EEG and FEUC faculty is reflected in the framework of the Economic Policy Research Unit (NIPE), a large number of joint projects with foreign scholars, in publica- which was awarded a grade of Excellent in the last evaluation of tions in international journals with peer review, in seminars with R&D units by the Foundation for Science and Technology (FCT) the participation of both national and international scholars and and the Applied Microeconomics Research Unit (NIMA). In Coim- in the success of the Spring/Summer schools that have been bra, most faculty members undertake their research activities in attracting researchers and doctoral students from other institu- the Group for Monetary and Financial Studies (GEMF). Should you tions. require further information, please visit the following websites: Both institutions have excellent research facilities and condi- ◤ NIPE - http://www.eeg.uminho.pt/economia/nipe tions, including laboratories for PhD students, and provide access ◤ GEMF - http://gemf.fe.uc.pt/ to a wide range of databases and software. For detailed informa- ◤ NIMA - http://nima.eeg.uminho.pt/ tion, we suggest that you search the web of the Research Support Office of EEG-UM and of the data laboratory of GEMF. PhD PROGRAMME in ECONOMICS - University of Minho (EEG-UM) | University of Coimbra (FEUC) 4 2. Doctoral Programme PhD PROGRAMME in ECONOMICS - University of Minho (EEG-UM) | University of Coimbra (FEUC) 5 2.1 Study Plan year course unit sem. ECTS The PhD Programme in Economics is 1st 60 organized in three types of course Advanced Econometrics I 1st 7,5 units Advanced Macroeconomics I 1st 7,5 01 Advanced Microeconomics I 1st 7,5 A group of mandatory course units offered in the first year, Mathematical Economics 1st 7,5 which corresponds to the foundations of Economic Science. 1st Advanced Econometrics II 2nd 7,5 Each one of these course units has a workload of 22.5 hours, Advanced Macroeconomics II 2nd 7,5 corresponding to 7.5 ECTS. Advanced Microeconomics II 2nd 7,5 02 Computational Methods Applied 2nd 7,5 In the first semester of the second year, there are two optional to Economics course units, a cycle of seminars and a Thesis Project, which 2nd 60 will enable students to specialise and to progress to the thesis. Each one of these course units accounts for 7.5 ECTS. Economics Seminar 1st 7,5 03 Option I 1st 7,5 From the fourth semester onwards the student performs the 2nd Option II 1st 7,5 thesis, which corresponds to 150 ECTS. Thesis Project 1st 7,5 Thesis 1st 30 3rd 60 3rd Thesis 60 4rt 60 4rt Thesis 60 2.2 First Year Exam At the end of the first year, students will take an exam for ensuring their admission to the second year of the PhD Programme. The exam will focus on the subjects taught in the courses of Advanced Macroeconomics I and II and Advanced Microeconomics I and II. Only students who have passed Advanced Macroeconomics I and II and Advanced Microeconomics I and II will be admitted to the exam. Students will be ranked as Approved/Not Approved. PhD PROGRAMME in ECONOMICS - University of Minho (EEG-UM) | University of Coimbra (FEUC) 6 2.3 Syllabus Course Units - 1st year Mathematical Economics Advanced Microeconomics I Semester: 1st | Tipology: Compulsory Semester: 1st | Tipology: Compulsory 1. Topics in linear algebra Consumer theory: preferences, indirect utility and 2. Real analysis 1. expenditure functions; Marshallian and Hicksian demand functions; duality; revealed preferences 3. Static optimization Producer theory: technology; production and cost 2. 4. Dynamic optimization functions; duality 3. Partial equilibrium 4. General equilibrium. Walras’ Law Advanced Econometrics I 5. Welfare theorems. Pareto efficiency. Edgeworth 5. diagrams. Social welfare functions Semester: 1st | Tipology: Compulsory Externalities and public goods. The Coase theorem. 6. Econometric modeling: regression models; Ordinary Pigouvian taxes 1. Least Squares (OLS) vs Method of Moments (MM); 7. Choice under uncertainty hypothesis testing; forecasting Economics of information: adverse selection and 8.. OLS numerical properties: geometric interpretation; moral hazard 2. partial regressions (Frisch-Waugh-Lovell theorem); influential observations and leverage Convergence: convergence in law; convergence in Advanced Macroeconomics I probability; almost surely convergence; weak law 3. of large numbers; central limit theorem; asymptotic Semester: 1st | Tipology: Compulsory results in Econometrics OLS statistical properties: unbiasedness; efficiency; 1. Neoclassical growth theory: the Solow model 4. consistency; the Gauss-Markov theorem 2. The Ramsey-Cass-Koopmans model Confidence intervals and hypothesis testing: finite 3. Diamond’s overlapping-generations model 5. sample vs asymptotic results; asymptotic distribution of the OLS estimator 4. Real-business-cycle models Microeconomic foundations of incomplete nominal Non-linear regression models: Method of Moments 5. adjustment 6. vs Non-linear Least Squares (NLS); Gauss-Newton regression; inferences in non-linear models 6. Inflation and monetary policy Generalised Least Squares: estimation; autocorrela- 7. Budgetary deficits and fiscal policy. 7. tion; heteroscedasticity Instrumental variables: estimation; inferences (asymptotic tests); specification tests (Hausman 8. and Sargan tests); Generalized Method of Moments (GMM). PhD PROGRAMME in ECONOMICS - University of Minho (EEG-UM) | University of Coimbra (FEUC) 7 Advanced Econometrics II Advanced Microeconomics II Semester: 2nd | Tipology: Compulsory Semester: 2nd | Tipology: Compulsory Module I – Time series 1. Static games with complete information 1. Stationary time series analysis 2. Dynamic games with complete information 2. Non-stationary time series analysis 3. Static games with incomplete information 3. VAR models 4. Dynamic games with incomplete information 5. Topics on contract theory Module II – Microeconometrics 1. Discrete choice models 2. Regression, correlation and causality Computational Methods Applied to 3. Tobit and selection models Economics 4. Panel data models Semester: 2nd | Tipology: Compulsory Module III – Dynamic panels 1. Quantitative macroeconomics 1. Generalized Method of Moments (GMM) 1.1. RBC models Dynamic panel data model: Arellano e Bond 1.2. Rational expectations