Economics

This course examines the evolution of money from the gold standard to the present; and, the institutions, instruments, and markets of modern finance, with a special focus on financial innovation and its challenges.

This course offers an overview of different theories related to economics and justice to analyze issues such as the trade-off between equity and efficiency. The course discusses questions including: How do these theories operationalize equity? How do they deal with the trade-off between equity and efficiency? And how can they be incorporated in economic models? The course focuses in particular on Dworkin’s theory of equality of resources and Roemer’s theory of equality of opportunity. Dworkin’s theory makes use of devices such as auctions and hypothetical insurance markets that economists are very familiar with. Roemer has shown that his theory can be formulated in terms that can be tested empirically in different domains (e.g. income, education, health care). The course consists of lectures and working groups.

This course focuses on developing understanding of contemporary global issues, including economic well-being, sustainable growth, emerging economies, world trade and globalization. 

This course explores Chinese economic reforms and development since the end of the 1970s, and introduces many of the elements of China's emergence and its potential role in the world economy. It uses China as a case study placing Chinese economic development in a historical and comparative context, exploring the contradiction between the unprecedented economic growth of the past century and the persistence of poverty in rich countries. The course begins with theories of economic growth and poverty and studies economic and social institutions and public policy debates on ways to achieve rising incomes while improving living standards and promoting equality. The first part is on economic development and the most commonly used models of development. The second part covers contracts and development.