Economics

Personnel Economics studies the economics of the workplace using simple but formal economic models. Models of employee motivation, compensation, and selection are melded with real-world examples and with field studies of actual workplaces. Personnel economics takes an economic approach to the two key problems of human resource management (HRM): employee selection and employee motivation. The course approach combines elements of microeconomic theory, behavioral economics, and evidence from lab, field, and natural experiments. Familiarity with intermediate microeconomic theory such as budget constraints and indifference curves is presupposed. Familiarity with basic probability and regression analysis is helpful but not essential. 

This course focuses on presenting and discussing a diverse range of game theory applications and conveying an understanding of how strategic players may navigate such scenarios. Game Theory is the standard tool for analyzing strategic situations and is widely used in many fields, including economics, finance, biology, and political science. It provides a way of thinking about such strategic situations, whether in economics, politics, relationships, evolution, sports, war, law, or everyday life. The first part of the course presents basic concepts such as Nash equilibrium, dominated strategies, or mixed strategies, and the most famous economic games (prisoner’s dilemma, battle of sexes, matching pennies, beauty contests, etc.). The second part delves deeper into the analysis of dynamic games and covers questions and applications such as: How to build up a reputation; How to bargain; Duels (when should you shoot?); Cooperation (how selfish players can use "stick and carrot"’ to cooperate and collude); Hold-up problems (why and when your employer will invest in your human capital); and First- and second-mover advantage in markets - Wars of attrition. The third part of the course presents further applications of game theory that have been particularly influential in the history of economic theory, such as: Signaling (how to signal your qualities to an employer?); Mechanism design (how to sell your old house? how Google and eBay use auctions. What is the winner’s curse?); and Information aggregation (is there a wisdom of the crowd?). Throughout the course, games are played with and against each other in class. Prerequisites: ECON1210 Introductory microeconomics; and MATH1009 Basic mathematics for business and economics or MATH1011 University mathematics I or MATH1013 University mathematics II.

The course is designed to equip students with experience, knowledge, and skills for succeeding in globally interdependent and culturally diverse workplaces. Throughout the course, students will be challenged to question, reflect upon, and respond thoughtfully to the issues they observe and encounter in the internship setting and local host environment. Students will have the opportunity to cultivate professional and personal development skills as defined by the National Association of Colleges and Employers (NACE). Assignments focus on building a portfolio that highlights those competencies and their application to workplace skills. Students complete 45 hours of in-person and asynchronous online learning activities and 225-300 hours at the internship placement.

The course examines the key economic challenges facing developing countries understand why some nations remain poor while others achieve sustained growth. Blending macro and micro perspectives, the course covers a wide range of topics including inequality, poverty, health, education, nutrition, labor markets, migration, gender dynamics, agriculture, and institutions.

Within the framework of statistical logic and while utilizing R programming skills, this course engages in data analysis, computer simulation, and quantitative analysis. It equips learners with fundamental R programming skills applicable to statistical learning and practical applications.

This course offers a comprehensive overview of the evolution of economic thought from its early foundations to contemporary developments. It examines how economic thinking has responded to changing historical, political, and social contexts, and how major economists—such as Smith, Ricardo, Marx, Keynes, and others—have shaped our understanding of economic behavior and policy. 

This course builds on introductory microeconomics to analyze consumer and producer behavior, market structures, and strategic decision-making. Topics include individual and market demand, production and costs, pricing strategies, imperfect competition, game theory, and asymmetric information. Students apply economic models to understand real-world market outcomes and develop analytical skills for economic decision-making.

This course details the key concepts, objectives, and tools of economic policy, with a focus on both national and European contexts. Topics include economic growth, employment, inflation, income distribution, fiscal and monetary policy, trade policy, and environmental sustainability. It explores how governments and institutions design and implement policies to manage the economy, and assess their effectiveness in achieving policy goals. Special attention is given to EU strategies and frameworks such as the European Employment Strategy, the Stability and Growth Pact, and Europe 2020.  No prior coursework in economics is required, though a basic understanding of macroeconomic principles is recommended.

Topics in this business economics course include: enterprise as an economic science; the business and the business owner; types of business; operational decisions; location, size, and growth of the business; business environment; business strategy; business objectives; planning, control, and information system.

How can we explain Latin America’s persistent inequality and uneven development? This course explores the region’s development trajectory in relation to the international economy from the colonial period (c. 1500–1800) to the present. It examines how political, economic, institutional, demographic, and environmental factors shaped — and were shaped by — Latin America’s integration into the world economy. Key themes include: the long-run determinants of Latin American development; the legacy of colonialism and its impact on inequality; the formation of modern states and markets; Latin America’s complex engagement with international markets and institutions; the persistent tension between development efforts and political and macroeconomic instability; Latin America’s industrialization efforts, especially in contrast to the European and East Asian development models; and the evolution of political regimes — from authoritarianism to democracy, through waves of populism and military rule. The course pays particular attention to the interaction between policy choices, political culture, and economic outcomes, exploring their short- and long-term effects on poverty, inequality, and prospects for sustainable development. Due to its interdisciplinary nature, the course will appeal to students in Economic History, Economics, International History, Political Science, Development, and International Relations.