Microeconomic Theory at Yale is characterized by a large faculty and comprehensive course offerings across all specializations, foremost among them decision theory, game theory, and general equilibrium theory. The Cowles Foundation is supporting a Research Program in Microeconomic Theory which hosts every year a number of long-term visitors.
Industrial Organization—the study of imperfectly competitive markets—has a particularly strong tradition at Yale. Many of the central ideas of the ﬁeld were developed at Yale, and many of the ﬁeld’s top scholars were trained here.
The International Trade group at Yale extends across the department and the School of Management and includes faculty who work on theoretical, empirical, and quantitative trade models, trade policy, political economy, and international ﬁnance. The ﬁeld also benefits from the university’s globalization initiative and receives support from the Economic Growth Center.
Labor Economics and Public Finance at Yale covers a broad range of research, including the development of individual careers, effects of taxes and welfare programs on lifecycle decisions of individuals, wage and employment determination, education economics, voting and local public ﬁnance, the analysis of racial and gender discrimination.
Yale has a long and storied tradition of excellence in macroeconomics and is currently one of the most vibrant macro research groups in the world. It includes faculty leading the ﬁeld in both theory and empirical research as well as several faculty influencing current policy debates. It consistently trains and places macroeconominists in leading universities and policy institutions around the world.