Economics

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.

The course is an introduction to macroeconomic issues and policies in open economies. After presenting the main concepts related to national accounts, the first part deals with the implications of financial market integration, focusing on current account and global imbalances, the accumulation of foreign reserves, asset trade and portfolio diversification. The second part starts from equilibrium pricing in international financial markets, covered and uncovered interest parity conditions, and then reviews models of exchange rate determination in the short- and the long-run, their empirical validity and implications for monetary policy. It also addresses important topics in international finance, such as: the choice of the exchange-rate regime; the determinants of international capital flows and sovereign yield spreads; currency crises; financial contagion; current account sustainability and sovereign debt crises.

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.

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.