Economics

This course examines the main concepts relating to the international trading system and its institutions and reviews both traditional perspectives and important recent developments in international trade theory. Emphasis is placed on using theory to interpret trade data and to analyze the motivations behind existing trade policies and institutions. In particular, we aim to understand the welfare gains from trade, what accounts for observed patterns of trade and who benefits from various trade policies. Special attention is also given to protectionist trade policies and the political economy of protection, as well as the merits and drawbacks of bilateral trade negotiations.

This course fosters a comprehensive understanding of modern microeconomics. It covers consumer choice, demand theory, producer theory, competitive markets, partial equilibrium, general equilibrium, etc.

The course examines the financial decisions and strategies of multinational companies operating in international markets. Topics include foreign exchange markets, currency risk and hedging, financial forecasting, capital structure and long-term financing decisions, and the use of derivatives such as forwards, futures, and options. Students also explore international payment methods, multinational cash management, transfer pricing, and the effects of interest rates, inflation, and exchange-rate movements on international business. Case studies are used to analyze financial challenges and decision-making in multinational firms.  

This course offers a basic study of business and economics statistics. It discusses probability theory, distribution models, sampling, and descriptive statistics. By using realistic examples from the current economic environment, students practice solving problems.  

The course examines the economic integration and development of the European Union, focusing on the Eurozone, monetary and fiscal policy, economic growth, productivity, and economic crises. It also analyzes European welfare states and public policies addressing employment, pensions, education, health care, and demographic change.

This course examines how monetary theory explains inflation; business cycles; and financial instability, and how central banks use monetary policy to stabilize the economy. Building on the foundations developed in Principles of Macroeconomics, the course introduces students to modern theories of money and central banking and explores how monetary policy shapes macroeconomic outcomes.

The course focuses on Japan’s monetary policy experience, including deflation, the zero lower bound, quantitative and qualitative easing, yield curve control, and current debates about policy normalization. The class applies theory to historical and contemporary policy episodes in Japan and abroad. Finally, the course culminates in a mock Bank of Japan Policy Board meeting in which students debate and determine the appropriate direction of Japanese monetary policy using economic theory and real-world evidence.

The course introduces the fundamental principles of sound financial management at the individual level and equips with the tools to ensure management of personal finances. Topics covered include basic financial planning, time value of money, credit management, real estate, the basics of investing, personal income tax, medical schemes and insurance, and estate and retirement planning. While the course provides a sound theoretical grounding in these topics, the focus is on practical application and real-world relevance. DP requirements: Completion and submission of at least 80% of tutorial assignments and attendance at 80% of tutorial sessions, and 40% average year mark. Assessment: Students complete a group Investment project (10%), weekly objective tests (10%, based on the best 5 of 10), two class tests (20%, weighted 10% each) and a final exam worth 60%.

The course is designed to prepare students for leadership in a globally interdependent and culturally diverse workforce. Throughout the course, students are challenged to question, think, and respond thoughtfully to the issues they observe and encounter in the internship setting, and the designated city in general. Students have the opportunity to cultivate the leadership skills of problem-solving, deliberation, negotiation, teamwork, intercultural communication, and systems thinking. In addition, the virtual nature of the course, with classmates attending from different regions of the world, offers a unique opportunity for cross-cultural comparative analysis. This is a hybrid course, with both online and in-person components. Online components include instructor led webinars, video lectures, discussion forums, assignments, and readings. Face-to-face elements of the course include local events, site visits, workshops, guest speakers, and participation in a prearranged internship, where students are required to work approximately 200-240 internship hours over the 8-week term.

The firm plays a central role in contemporary capitalist societies. Firms not only shape economic outcomes, but also concentrate power and produce conflict within society. Understanding the firm, therefore, requires moving beyond a purely economic perspective to examine how firms organize power and authority within broader social and political contexts. The course uses case studies and empirical examples from the United States to assess the applicability of theoretical perspectives. The first block introduces foundational theories of the firm, emphasizing the centrality of the means of production in capitalist societies. The second block focuses on the role of workers and the organization of labor within the firm. This section covers workers’ relations with capital and output, as well as the division of labor and changes in bargaining power. The last block explores multinational corporations as central actors in globalization in the late twentieth and early twenty-first centuries and examines how the expansion of global value chains and accelerating technological change have increased their power and transformed their role in society.

This course examines a theoretical and practical understanding of game theory. Students will learn to build and solve models of strategic behavior, covering static and dynamic games under both complete and incomplete information.