Economics

This course provides a comprehensive introduction to environmental and natural resource economics. It is assumed that students have a good grounding in basic microeconomics. Core components of the course include: environmental sustainability concepts and ethics; the welfare economic foundation of environmental economics; externalities and the design of policy instruments to address environmental problems; the economic concept of value and measurement of environmental benefits using non-market valuation methods; and optimal utilization of renewable and non-renewable natural resources. The course develops a systematic understanding of the economic rationale behind the use of environmental policy instruments, economic valuation principles, and criteria for optimal use of natural resources. Through examples, the course examines how principles of environmental and natural resource economics have been applied or are being proposed to address a range of sustainability concerns. These include sustainable management of water, sustainable use of terrestrial and marine resource and biodiversity conservation, mitigation of climate change and adaptation to its impacts, and promotion of sustainable consumption and production.   

This course examines the mathematical techniques most commonly used in business and economics. Topics include the mathematics of finance, matrix algebra, calculus and (unconstrained and constrained) optimization. Special emphasis is put on the illustration of the covered concepts and techniques with applications to typical problems in business and economics.

The course introduces students to the principles and methods of behavioral economics in relation to individuals, firms, and institutions. Addressing behavioral economics both at the macroeconomic and microeconomic levels, students engage in topics such as heuristics, biases, nudging strategies, and rational expectations. Students learn how to apply these tools in a variety of economic settings both in the private and public sectors. Using these tools, students incorporate psychologically-motivated assumptions into economic models, and interpret the implications of these assumptions for policy development and business strategy.

This course analyzes the functions of European Union (EU) economic integration with a special focus on the Eurozone. It emphasizes the ways in which the European Single Market for goods, services, and capital impinges on the ability of national governments and European institutions to conduct economic policies. The implications of a monetary union for the functioning of member states' economies and domestic policies are analyzed with the help of macroeconomic tools. The various aspects of economic governance of the European monetary union are studied within the framework of a modern political economy. Structural aspects of the European integration (external economic relations and the role of the EU in globalization, banking and financial regulation, the economic implications of population aging, the transition to a low-carbon economic growth path, etc.) are also dealt with by mobilizing the most recent analyses. The course selects a number of issues that appear salient in current debates about the EU, its relationship with the rest of the world, and its future. It mobilizes the economist's analytical tool box to shed light on policy decision-making and pending issues.

This course takes a formal approach to analyzing the way firms make production and sales decisions and interact strategically with each other in the marketplace. It begins with a study of optimal pricing policies, including versioning, bundling, and related market segmentation strategies. In the second part of the course, we analyze strategies for firm dominance, especially through the deterrence of potential competition. The list of such strategies includes capacity expansion, product proliferation, and exclusive dealing contracts. In the third part of the course we apply game theory to the study of oligopoly interaction, focusing on pricing and output strategies in a dynamic setting. In the final part or the course we introduce some of the most useful cutting-edge analytical frameworks in the age of fast technological changes, including those of multi-sided platforms, standard wars and business ecosystems. This course has a strong entrepreneurial component; we study all the essential issues in the literature of Industrial Organization from the viewpoint of business decision-makers. 

This course is designed as an intermediate-level exploration of Microeconomics. A foundational understanding of Microeconomics concepts is expected, as we will extensively use mathematical analysis to delve into the decision-making processes of economic agents in various contexts. Key areas of study include Consumption Theory, Production Theory, Partial Equilibrium, Competitive Markets, and Monopoly Markets, with a focus on theoretical derivations. Elementary calculus, particularly differentiation, will be employed as necessary throughout the course.  

By the end of this course, students will: 

1) Gain a comprehensive understanding of key Microeconomics topics: Consumption Theory, Production Theory, Competitive Markets, and Monopoly. 

2) Grasp the microeconomic paradigm and appreciate the value of microeconomic analysis. 

3) Enhance their ability to apply economic analysis to a range of issues. 

4) Develop formal modeling skills, enabling them to translate real-world problems into mathematically manageable models.

This course offers an introduction to the problems and methods of the economics of information, developed in recent decades to investigate the consequences of the presence of asymmetric information in a variety of economic and political contexts. Topics include: the Agency Model-- risk sharing; moral hazard; competitive markets with adverse selection; adverse selection in the Agency Model-- screening, signaling; auctions.

The course examines the economic development of different regions and countries based on an international perspective, international division of labor and regional development. Students master the basic analysis theories and tools of international economics, and cultivate the ability to independently study regional and national economic issues. The course comprehensively and systematically examines the economic status quo, development models and future trends of countries and regions that have a more prominent impact on the world economy and China's economy. The course is divided into three parts: world economy trends and developed economies; regional economy (Asian economies and the EU economy); and "along the way" and the emerging economies. The three modules respectively focus on the economic issues of the United States, Japan, Germany, Sweden, Russia and other countries, as well as the regional economies of the European Union and East Asia, and the economic issues along the "Belt and Road" of the "BRIC countries."

This course covers some fundamental theories in economics and deals with current social, economic issues. This class is for students who are interested in economics, but find it difficult to study on their own. Through this course, students learn the basics of economics and use them to develop the power to analyze current issues in daily life. Furthermore, the knowledge learned in this class serves as a good foothold in future social advances and social life. The goals and outlines of this class are as follows. First, it analyzes economic issues based on a solid theory and provides an objective perspective on modern society. Second, students build their own economic logic based on economic theory and cultivate their ability to interpret social issues. Third, we provide the latest information on important and emerging topics such as energy and finance. As such, this class develops depth that cannot be felt in general liberal arts lectures and application skills that cannot be felt in existing economics major classes. At the end of the semester, this class helps students fully understand the economic newspaper and cultivate their skills to the extent that they can express their pros and cons on the arguments presented. This class focuses on positive economics rather than normative economics. While normative economics is a value judgment question about “What should be?”, empirical economics is a realistic analysis of “What it is?”. If you only judge value without knowledge of the real world and its principles, you will be evaluated for lack of logic and narrowness. This class provides basic empirical economic knowledge and cultivate the power to make value judgments on various social phenomena based on the students. 

Assessment: Participation(14%), Self-Introduction(1%), Assignments(35%), Final(50%)