Economics

This course is part of the LM degree program and is intended for advanced level students. Enrollment is by consent of the instructor. This course discusses topics including climate change: the physical basis and impacts; carbon emission drivers, abatement strategies, and investment needs; transition dynamics and socio-economic impacts; climate-related macro-financial risks, and physical/financial asset stranding; mitigation policies: carbon pricing and permit markets; sustainable finance policy-making, and central banks and financial supervisors; climate economic modelling: the DICE model, IAMS, and CGE models; neoclassical transition modelling approaches; complexity-driven transition modelling approaches; and production and financial networks.

This course introduces fundamental knowledge of urban and regional economics and examines how economic theory can be used to analyze the benefits of cities, and to diagnose its problems. It discusses theories of the formation of cities, agglomeration economies, and urban growth. The course also examines how economic activities are organized within a city, with particular attention on Shanghai.  

This course focuses on public policy and public finance, especially on their basic system and historical and theoretical backgrounds. Through cases of various nation states and international organizations, the course discusses the main issues of public policy and public finance, especially regarding their actors, leadership, resources and strategies.  The course pays special attention to the relationship between nation states and international organizations in terms of public policy coordination and fiscal adjustments. Recent topics such as performance measurement, policy evaluation and performance-based project budgeting are also discussed in the course.

This course gives students an understanding of the power and limitations of the theoretical constructs used to interpret human behavior in economics, as brought to bear on observed consumption behavior; to enable them to critically evaluate policies targeted at individuals, both in terms of their theoretical basis and of their practical importance, and to recognize the importance of measurement in the design and evaluation of policy and the challenges it poses. Students build upon the core material learned in the first two years of the BSc (Econ) Economics degree program to further study problems pertinent to our understanding of individual choices, to their measurement, and to the design and evaluation of policy.

This course provides an introduction to programming in order to numerically solve simple economic models and perform basic data analysis. The first part of the course introduces programming using the general-purpose Python language. It teaches how to write conditional statements, loops, functions, and classes; print results; and produce static and interactive plots. It provides an opportunity to solve simple numerical optimization problems; draw random numbers; run simulations; test, debug, and document code; and use online communities proactively when writing code. The second part of the course instructs how to import data from offline and online sources, structure it, produce central descriptive statistics, and estimate simple statistical models on the data. The third part of the course introduces the concept of a numerical algorithm to write simple searching, sorting, and optimization algorithms, solve linear algebra problems, solve non-linear equations numerically and symbolically, find fixed points, and solve complicated numerical optimization problems relying on function approximation. The course provides hands-on experience with applying the above techniques to solve well-known microeconomic and macroeconomic problems through both a small data analysis project and a larger model analysis project based on a well-known economic model.