Descriptions of Courses

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  ECN201 Microeconomics
  This course aims at understanding the basic principles of microeconomics. The objective of the course is to get students familiarized with basic microeconomic concepts, problems and policies. The course deals with consumer behavior, firm behavior, market equilibrium, market structure, and selectively deals with some topics in welfare economics, public economics, international economics, decision making under uncertainty, and game theory depending on the semester.
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  ECN202 Macroeconomics
  This course aims at understanding the basic principles of macroeconomics. Students will learn about macroeconomic problems and policies to deal with them. They will get familiarized with aggregate variables such as GDP, unemployment, inflation, interest rates, growth rates, and exchange rates.
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  ECN301 Econometrics
  This course will provide students with an opportunity to learn basic methods of multiple regression analysis. Estimation and testing hypotheses are the primary concerns of this course. Topics covered in this course are multiple regression, structural change, and time series analysis.
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  ECN311 Intermediate Microeconomics
  This course is a rigorous analytical course in microeconomics. It is intended for students who have already taken a one-semester course in microeconomic principles. The course starts with mathematical analysis of consumer and producer decisions in competitive markets. It goes on to in-depth analysis of imperfect competition in monopolistic and oligopolistic markets. Depending on the semester, it can selectively include various topics such as general equilibrium analysis, uncertainty and imperfect information, externalities, public goods, and elements of game theory.
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  ECN312 Intermediate Macroeconomics
  This course is intended for students who have already taken a one-semester course in macroeconomic principles and thus aims at an in-depth study of macroeconomic issues. It deals with long-run economic growth and short-term and medium-term economic fluctuations and stabilization policy. It also deals with monetary issues and international flow of capital. Depending on the semester, the course will also cover global financial crises.
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  ECN402 International Economics
  The Theory and Policy of International Economics is a natural extension of the principles of economics in a globalized environment. The class is basically a combination of the study of theory and real world application. Occasionally, the group and individual presentation and debate will be introduced.
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  ECN403 Financial Economics
  Activities in financial markets have direct effects on individual’s wealth, the behavior of business, and the efficiency of our economy. This course is designed to investigate (i) the role of money on business cycle and inflation, (ii) the structure of financial system and the foreign exchange market, and (iii) conduct of monetary policy and budget deficit. (iv) In addition, this course will introduce central concepts of financial economics
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  MSB408 Economics of Technology
  This course is to designed to reinforce and develop student abilities to apply technology and business(industry). In doing so we will focus on innovation of science and technology and its future industrial evolution. On each topic the class will focus on winning R&D excellence of KAIST research areas together with industrial perspective such as nuclear, electrical vehicle, biotechnology so forth.
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  ECN413 Industrial Organization
  This course studies the application of microeconomic theory in market and industries. It analyzes market and industries in the paradigm of market structure-conduct-performance.
  It introduces various concepts of market structure and conduct: (natural) monopoly, contestable market, entry barrier, economies of scale and scope, firm integration, price discrimination, tied sale, resale price maintenance market foreclosure, and other restraints on transactions. And it studies regulatory issues associated with the efficient and optimal market performances of industries.
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  ECN415 Game Theory
  The aims of this course is to equip the students with the basic tools of game theory. This unit develops the basic models of strategic behavior in modern microeconomics. It builds a framework for the analysis in markets where the traditional price theory fails. Central in development are choice under uncertainty, choice in strategic situations and choice under asymmetric information. The theories are applied to the analysis of oligopolistic markets, markets for insurance, the theory of actions and other applications.
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  ECN455 Network Economics
  This course aims to understand basic principles of network economics and study applications of the principles to real economies and business issues. We introduce network concept, structure, and principles including network externalities, critical mass, excess inertia and excess momentum, increasing returns world, positive feedback, path dependent process, and so on. We apply those principles to various economic, business, and policy issues; technology adoption, standardization, spatial pattern, network trade, discrepancy and instability, system failure, synchronization, self-organizing, complex network theory, etc.
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  ECN481 Special Topics in Economics
  Covering additional information needed that other courses do not cover will be the specialty of this course. This course will be open flexibly.
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  MAS250 Probability and Statistics
  This is an introduction to probability theory. Topics include independence of events and random variables, various probability distributions, expectation, conditional expectation, the law of large numbers, the central limit theorem, tests of hypothesis, the analysis of variance, and regression.
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  MAS350 Elementary Probability Theory
  This course covers basic concepts and applications in probability theory. Topics include conditional probability and independence, expectation, various random variables and distributions, the law of large numbers, the central limit theorem, martingale theory, the Poisson process, Markov chains, Brownian motion, and stationary random processes. The course also includes inverse transform methods and rejection methods for simulation.
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  MAS355 Mathematical Statistics
  This course covers basic theories for statistical methodologies and applications to engineering and applied sciences. Topics include basic theories of probability, random variables, probability distributions and their inter-relationship, average and variance, variable transformations, sampling distributions, estimation and hypothesis testing, the law of large numbers, two-dimensional distributions, decision making, linear models, and nonparametric methods.
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  MAS371 Introduction to Financial Mathematics
  We introduce stochastic methods that are useful for financial markets. The concepts of financial terms will be explained and stochastic methods on how the financial market products are priced will also be introduced. Through this course, students are expected to learn how probability, statistics, and applied mathematics are used in financial markets.
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  MAS456 Statistical Methods with Computer
  This course introduces data analysis methods using computer statistical program packages (Minitab, SAS, SPLUS, etc), and the main goal of the course is to teach and train students for effective analysis methods over a variety of data types and analysis purposes.
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  MAS471 Financial Mathematics and Stochastic Models
  Students learn how to price financial derivative securities in a mathematical framework. Risk-neutral measures which are fundamental for the financial mathematics are introduced. The relevant probability theory is also explained. We start with discrete-time binomial models and arrive at the continuous-time stochastic models including the famous Black-Sholes PDE.
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  MAS476 Game Theory
  This course covers various mathematical games, strategic games, extensive games, Nash equilibrium, and repeated games.