Economics

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.

This course further develops and applies the economic tools learned in Microeconomics I and II and requires fluency in the use of algebra, calculus, and graphs, to develop theoretical models and apply them to particular issues. The course includes an in-depth analysis of current issues in the field of microeconomics theory.

The course discusses capital structure, real options, long-term financing, short-term financing, and special topics such as mergers and acquisitions, corporate governance, and event studies.

The course examines the formation process and the basic theory of population economics. It covers the object and characteristics of the discipline's research; the interrelationship between population and economy and research methods; the economic theory of fertility and mortality; the economic influencing factors; the impact of population quantity, quality, migration and investment on economic development from the perspective of population economics; the economic factors of population change and the interrelationship between demographic and economic phenomena; population and investment consumption, China's population economy and world population economy.

This course focuses on the role of the banking system in the economy and the roles played by central banks in the banking system and in implementing monetary policy. The course also examines the interaction between monetary policy and exchange rate regimes and takes a close look at European Monetary Union. There are three parts to this course: 1) Central Banks and the Banking System - how banks operate and why they are important; what central banks are and how they create money; the Federal Reserve and the ECB; how banking crises come about; policies to prevent and deal with crises; current issues in banking regulation and crisis prevention. 2) Monetary Policy - the relationship between money and inflation; how central banks control short-term interest rates; the term structure of interest rates; default risk and collateral; quantitative easing; the Phillips curve; central bank institutions; rules for setting interest rates. 3) Exchange Rate Regimes and the Euro - the trade-off between control of interest rates and exchange rates, optimal currency areas, European monetary union.

The UK’s departure from the EU is a historical event, with global political and economic implications. This course gives students a comprehensive understanding of the causes and consequences of Brexit: Why did British people come to this unexpected decision? Will the British economy survive the shock of leaving the EU? Could this be the beginning of the end for the European Union? In the process, students learn about UK and EU politics, economics, and political economy. The course includes team work on multimedia projects, such as a hypothetical campaign for the next country that considers leaving the EU. The course also includes visits to the European Commission’s Representation to the UK and the headquarters of the pro-EU campaign, as well as talks by representatives of organizations on both sides of the Brexit campaign, such as the European Movement and Change Britain.