Economics

This course examines patterns of behavior that violate standard rationality assumptions, including behavioral aspects of individual decision making, such as temptation and present-biased preferences, prospect theory, reference-dependent preferences, and over-confidence. It also examines happiness research and behavioral public economics.

This course begins with an analysis of banking regulation. Due to the potentially enormous impact of bank runs, panics, and financial crises on the economy, the financial industry is heavily regulated. The course discusses the influence of regulations on the development of financial markets. In turn, the course addresses how the financial regulations had evolved in face of fast-growing financial innovations. Finally, we discuss how the central bank controls the supply of money and uses available tools to achieve the desired goals, the monetary transmission mechanisms, and how the public reacts to changes of monetary policies. The course also provides insight into the role of real estate markets and stock markets in the transmission of monetary policies and whether the central bank should react to the fluctuations of these asset prices. 

This is a practical course that employs a simulation of business competition in a global environment. Students work in teams as active participants in the management of a company working around rules set by the instructor using a computer model. The simulation uses knowledge of strategic management, international business, marketing management, human resources, logistics, accounting, and finance. Through class activities, processes, and decision-making the course reinforces the following competencies: adaptation to dynamic teams and environments; successful operation of a business or international marketing project; capacity to take complex decisions and carry out negotiation processes.

This course provides an overview of the rationale, role, and impact of public sector intervention in the economy. It begins with a discussion of the fundamentals of public economics, including instruments of public intervention in the case of market failure, equity, redistribution, and social welfare. The course also examines public expenditure, government revenue, and fiscal federalism in conjunction with taxation theories for indirect taxes on consumption, as well as direct personal and corporate income taxes. Particular focus is paid to the study of the current public economics of Spain.

This course introduces international macroeconomics and international finance. It examines the macroeconomic and financial linkages between countries. Topics include national income accounting, the balance of payments, the operation of the exchange rate systems, the international capital market, the international monetary system, and the mechanisms of adjustment of exchange rate, interest rate, current account balance, output and price level in response to monetary and fiscal policies. Some issues regarding the Chinese economy, such as the current account imbalance and capital flow, and RMB exchange rate are discussed. 

Note: This course has a different unit value than a similar course with the same name (International Finance) also offered by the School of Economics at Fudan University.