Economics

This course covers central topics in the global economic history since 1500. The topics are chosen from the comparative history of the development of nations. The course emphasizes the dynamic process of historical change. The method is in part applied economics with a critical attitude towards timeless explanations of the wealth of nations. The list of questions includes: Why and how has the world become increasingly unequal? Why did some countries industrialize before others? What was the role of income distribution, endowments and political institutions for economic progress? What role did high wages play to induce change? Why was it Europeans who conquered the world? How was the Americas incorporated into the global economy? Why has Africa remained the poorest region in the world? This course addresses these and other similar questions using simple tools and by contrasting them to contemporary and modern economic theories for understanding the role of economic incentives, inequality, and institutions for economic and social development. This course requires students to have completed courses in microeconomics, macroeconomics, and mathematics as prerequisites.

This course provides students with the necessary sensitivity when applying theoretical models. The traditional model of the homo economicus is ubiquitous in microeconomic theory. Economic agents are assumed to be rational utility maximizers with self-regarding preferences and unlimited processing capacities. Common sense and the results of economic experiments show that this is not always the case. Often people behave differently than predicted by theory. This course deals with the following problem statements: 1) When does microeconomic theory apply and when does it lose its predictive power? 2) If it does not apply, what concepts and models can be used to either extend or substitute the current theory to describe human behavior? Specifically, students discuss the following issues: non-expected utility theory; inter-temporal choice; social preferences; reciprocity; levels of analytical reasoning; the role of mistakes; mental accounting; heuristics; and neuroeconomics.

This course focuses on the study of corporations. Topics include: the structure of productivity and human relations, the business environment, business as a cultural project, and the management of human resources. It provides an introduction to how corporations are set up in France, including an explanation of multiple cultural differences that happen in the French business world compared to the rest of the world.

This course introduces students to the structure and workings of modern economic activity, focusing on macroeconomics.  Students identify influences in the national and international economies, and consider the role of government policy. They also learn basic approaches in macroeconomics and the value of models, and proceed to consider different perspectives. Problems are discussed in groups to enable participatory learning and students apply macroeconomic theory to debate issues in the real world. 

Full course description

In this course we investigate international economic relations, with a particular focus on the European Union (EU) and the euro area (EA). We discuss channels through which nations are economically connected. This involves analyzing the dynamics of international markets for products and services, labor and finance and the importance of the underlying institutional designs. We study the underlying economic theory and the way such insights have been translated into the institutional arrangements of the European Union. We discuss how effects of macroeconomic policies are transmitted from country to country through these channels and how fiscal and monetary policies can/should be coordinated to contribute to fostering economic integration. We pay attention both to the intra-European dynamics and the relation of Europe with the rest of the world.

The first half of this course gives students an integrated view of three important asset classes: fixed income securities, stocks, and derivatives. Through rigorous engagement with the course material, students learn key concepts of risk, return, diversification, portfolio theory, market efficiency theory, and the Capital Asset Pricing Model (CAPM). Students also learn about derivative instruments like forwards, futures, options and swaps, and their practical application in trading. The second half of the course focuses on corporate finance and allows students to build strategic thinking skills in this area. Students learn how firms analyze and decide which investment opportunities they should pursue, as well as the different options for raising the necessary funds to finance those investments.

This course provides an account of the main features, performance, and associated policy issues of the Irish Economy. The course begins with an overview of the evolution of the Irish economy from the 20th century through to the present day. The objectives of Irish economic policy are then defined. The role of the government in achieving these objectives and the various policy issues which arise in their attainment is then considered as students examine some of these areas: regulation and competition policy, labor market and migration, distribution and poverty, manufacturing and internationally-traded services, and education.

This course provides a foundation of the principles of international finance and trade. It examines contemporary development and basic theory, the characteristics and internal structure of financial and trade operations under the open economy, and the evolution of international finance and trade in the era of globalization, including opportunities and challenges. The course covers the international monetary system: evolution and trends; balance of payments: pattern, theory and policy; foreign exchange market: structure, efficiency and derivatives; exchange rate theory: main basic theory; international capital flows: evolution, motivation, effects and management; international financial markets: composition, innovation and effects; international financial crisis: types, evolution and risk management; regional monetary integration and international policy coordination: choices under globalization; contemporary China's trade and finance: development, openness and international influence.