Economics

This course provides an introduction to how economists analyze behavior in financial markets. It provides an understanding of the role of financial markets, the behavior of asset prices, and the economic causes and consequences of financial market imperfections. This is achieved through application of economic theory and examination of empirical evidence. Topics covered include the present value model and excess volatility; the term structure of interest rates; arbitrage conditions in foreign exchange markets; and consumption, portfolio choice, and the equity premium. The course is taught through a program of lectures and tutorials. Learning-by-doing, through problem solving and discussion of exercise sets, is an important ingredient of the course. A background in mathematics is recommended. Students with a weak math background need to be prepared to work at developing their math skills.

The course discusses common concepts in economics to learn why we harm the environment and overuse natural resources, and what we can do about it. The course discusses different types of environmental policy, how they work, and for what problems they are suitable. The course discusses whether and how we can put a dollar value on nature and ecosystem services. The course studies cost benefit analysis, international treaties, pollution in general, and climate change. The course takes an economic approach to global sustainability, and studies the relationship between the environment and economic growth and trade. This course takes a tour of the fields of environmental economics.

This course is part of the LM degree program and is intended for advanced level students, Enrolment is by consent of the instructor. This course discusses the economic principles of financial transactions and financial contracts, particularly the main contingencies pertaining to specific types of financial transactions (purchases, loans, mortgages, etc.). The course reviews the risks associated to different contingencies, how to prioritize them, and how to apply economic techniques to correct risks. The course explores topics including economic theories of the firm; the firm as authority; the firm as a nexus of contracts; the firm and specific investment; law and finance; and international perspectives: Italy, Germany, UK, USA, and Japan.

The course combines both analytical and computer-based (data) material to enable students to gain practical experience in analyzing a wide variety of econometric problems. It also discusses how modern data science approaches can be used to answer important economic questions. Students are reading various applied economic papers which apply the techniques being taught. Applications considered include labor, development, industrial organization, and finance. 

This course examines macroeconomics with a focus on the four basic models: Keynes Is-LM model, Classical full employment AD-AS model, Inflation SP-LP model, and Modern growth model. The course uses the four models to analyze the actual state of the economy with a focus on the United States, Taiwan, and Mainland China. Other topics include macroeconomic statistics; monetary policy, fiscal policy, and government budgets; stabilization policy objectives; money and financial markets; consumer theory; investment theory; and reflection on the rapid economic development of Taiwan over the past half century. Text: Robert J. Gordon, MARCOECONOMICS; and class handouts.

Using mainly law, sociology, and economics but also philosophy, literature, and psychology; and focusing on different actors such as states, societies, consumers, and banks; the course deals with current controversial issues such as the rising role of money, the global distribution of wealth, the erosion of monetary sovereignty, the legal challenges of alternative and stateless currencies, and the disruptive effects of cryptocurrencies on finance and banking industries. The course is divided into three parts: the origins and essence of money, the socio-economic and legal issues raised by money in today's society, and the current challenges coming from the rise of cryptocurrencies.

This course examines models of aggregate income determination in open economies; theories of aggregate economic behavior with respect to consumption, investment expenditures, and financial transactions; balance of payments and exchange rate analysis; theories of inflation and unemployment; introductory dynamic analysis; and theories of growth and business cycles. The models will be applied to the data and used to analyze the observed growth patterns across the world.

The recent policy reforms launched in the UK National Health System coupled with the challenges faced by health systems globally with the Covid-19 pandemic, emphasize the need for a better understanding of how healthcare systems function, how they are financed, and how strategic policies are developed to ensure the provision of care to the highest quality standards. In this course, students understand how the state and other private and public health-related institutions and processes influence health systems' performance. Moreover, the module explores the demographic and socio-economic challenges faced by healthcare systems, particularly in terms of power and resources contested in the health sector. It is intended to address the gap in health economics that often ignores the developments of the political economy in health systems. This course is relevant for students from several backgrounds, as the focus are both on politics and economics and their interface in terms of health and healthcare.