Tai-Wei Hu
Tai-Wei Hu

Assistant Professor of Managerial Economics & Decision Sciences

Print Overview

Tai-Wei Hu joined the faculty at the Managerial Economics and Decision Sciences Department at the Kellogg School of Management in 2009, after completing his PhD at Pennsylvania State University. His research interests include micro theory and macroeconomics.

Print Vita
PhD, 2009, Economics, Penn State University
MA, 2005, Economics, National Taiwan University
BA, 2002, Accounting, National Taiwan University

Academic Positions
Assistant Professor, Managerial Economics & Decision Sciences, Kellogg School of Management, Northwestern University, 2009-present

Honors and Awards
Certificate of Impact Teaching Award, Fall 2014

Print Research
Research Interests

microeconomics, macroeconomics

Hu, Tai-Wei and Neil Wallace. 2016. Information aggregation in a large multi-stage market game. Journal of Economic Theory. 161: 103-144.
Hu, Tai-Wei and Guillaume Rocheteau. 2015. Monetary Policy and Asset Prices: A Mechanism Design Approach. Journal of Money, Credit and Banking. 47: 39-76.
Hu, Tai-Wei. 2014. Unpredictability of complex (pure) strategies. Games and Economic Behavior. 88: 1-15.
Hu, Tai-Wei and Guillaume Rocheteau. 2013. On the coexistence of money and higher-return assets and its social role. Journal of Economic Theory. 148: 2520-2560.
Hu, Tai-Wei and Eran Shmaya. 2013. Expressible Inspections. Theoretical Economics. 8: 263-280.
Hu, Tai-Wei. 2013. Imperfect recognizability and coexistence of money and higher-return assets. Economic Theory. 53(1): 111-138.
Hu, Tai-Wei. 2013. Expected utility theory from the frequentist perspective. Economic Theory. 53(1): 9-26.
Hu, Tai-Wei, John Kennan and Neil Wallace. 2009. Coalition-proof trade and the Friedman rule in the Lagos-Wright model. Journal of Political Economy. 117(1): 116-137.
Hu, Tai-Wei. 2007. On p- rationalizability and approximate common certainty of rationality. Journal of Economic Theory. 136(1): 379-391.
Working Papers
Hu, Tai-Wei and Luis Araujo. 2016. Optimal monetary interventions in credit markets.
Hu, Tai-Wei and C. Zhang. 2015. Responding to the inflation tax.
Hu, Tai-Wei, Zack Bethune and Guillaume Rocheteau. 2015. Dynamic indeterminacy and welfare in credit economies.

Print Teaching
Teaching Interests
Microeconomics; Macroeconomics; Game theory; Decision theory
Full-Time / Part-Time MBA
Macroeconomics (MECN-450-0)

This course develops a framework to help business leaders understand and act on some of the most pressing challenges and opportunities in the macro economy. Familiarity with macroeconomic concepts and current issues is essential for careers in consulting, asset management and investment, general management, global companies, among others.

The course balances two missions: coverage of current and recent events, and analytical skills that prepare you for future challenges. Major recent events, such as the 2008 financial crisis, the 2010 Greek debt crisis, or the Chinese currency valuation, are covered comprehensively and with an analytic perspective. Awareness of these events and understanding how they fit together enhances not just our "macroeconomic literacy" but also provides an invaluable perspective on the forces that shape the world we live in today. Insights into current and recent events are integrated with the other major mission of the course, which is to furnish you with a consistent and enduring set of frameworks to understand, anticipate and act on the issues you are likely to face in the future.

Topics covered

- Savings, investment and fiscal policy.
- Money, central banking and monetary policy.
- Business cycles and government response.
- Exchange rates, trade deficits and international capital movements
- Asset bubbles and economic and financial crises.

The course syllabus (most recent version available) gives a more detailed description about specific topics, the textbook used, and additional readings. For more information, please go to the MECN-450 course page.

Foundations of Managerial Economics II: Dynamic Decision Models (MECS-460-2)
Techniques and applications of deterministic and stochastic dynamic programming. Topics include Markov decision processes and Martingales, economic growth, capital accumulation, consumption smoothing, job research and job matching, optimal stopping rules, and learning and multi-arm bandit problems.