Economics

This course covers the recent developments in experimental and behavioral economics as well as their extension into neuroeconomics. It demonstrates how developments in cognitive psychology and neural exploration in the subjective representations of the stakeholders have enriched the discipline at the microeconomic and macroeconomic levels. The course investigates several iterations of this young sector which is being shaped by a never-before-seen cooperation between the hard sciences and the social sciences by showcasing several applications: monetary incentivization, entrepreneurship behavior and attention control, behavioral finances, risk attitudes, the rules of cooperation, the role of knowledge and belief in decision making, the mechanisms of coordination, et cetera.

This course enables students to apply economic principles and models to understand the role of money and banking in the economy and to critically evaluate current debates on competition and regulation in the banking sector. The course studies the role of banking in the financial system and in the wider economy; the economic theory of bank intermediation; economic models of how banks make lending decisions in different market structures; strategies adopted by banks to address risk, with particularly reference to informational asymmetries; economic assessment of competition in banking, considering price and non-price strategies; banking regulation and government intervention in the banking sector; and current debates on the role of government and future of regulation for the sector.

This course examines the structure, operations, and functions of the financial system. The course starts with an introduction to financial markets’ role in the economy and the determination of interest rates and valuation of cash flows. The course then discusses various financial markets including money markets, bond markets, mortgage markets, stock markets, and derivatives markets. Financial institutions will be discussed with an emphasis on their major functions and operations. 

This course provides an in-depth understanding of the financial decision-making practice of corporations and enables students to apply financial theories to understanding issues and solving problems in real-world settings. The course examines the costs and benefits of various financing choices with an emphasis on issues of taxation, financial distress costs, agency conflicts, information problems, and managerial incentive problems. These issues are explored in the context of a firm’s capital structure choice, payout policy, security issues, and mergers and acquisitions.

This course explores the ways in which firm strategy affects, and is affected by, how markets work. Understanding this interplay is crucial for those interested in management, public policy, consulting, antitrust law, as well as those generally curious about why certain products are (or are not) available and why it is that firms behave the way they do. This course will explore this interplay using a mixture of theoretical models and empirical tools with a heavy emphasis on real-world applicability.

The course introduces the economic analytical tools or the key economic principles to comprehend and analyze natural resource and environmental issues including natural resource degradation, pollution, climate change and natural disasters, and unsustainable development. It critically examines the most pressing natural resource and environmental exploitation problems in the Caribbean. Finally, this course examines case studies to illustrate the usefulness of the theoretical approach.

This course covers the meaning and relevance of intermediate microeconomics concepts including consumer theory, production theory, market competition, market structure, welfare theory, game theory, public goods, externality, labor market, intertemporal choices, risk and uncertainty, and principal-agent programs. Topics include the theories of the consumer and the producer; the study of individual markets, including perfect competition, monopoly, and oligopoly; efficiency properties of the competitive system; and some circumstances in which competitive markets may fail to produce efficient outcomes. Text: Steven E. Landsburg, PRICE THEORY. Assessment: quizzes, midterm exam, final exam, presentation and discussion.