Economics

This course is part of the Laurea Magistrale degree program and is intended for advanced level students. Enrollment is by permission of the instructor. The student is expected to understand the functions and processes of transformations within the media industries and the innovations connected to new digital technologies applied to creative industries.

The digital revolution has fundamentally reshaped our world, transforming how we create, distribute, and consume everything from news and entertainment to social connections. This course is an in-depth exploration of the economic principles and models that govern this new landscape. The course is focused on two of the most important media industries, music and video. Each of them is introduced and analyzed in the value chain, all the relevant typologies of players, and how the technological evolution and the changes in consumer habits are influencing the markets’ dynamics and their structure.

This course examines how people make predictable and repeatable mistakes in financial decision-making. It looks at the nature of these mistakes and their origin, using insights from psychology, neurosciences and experimental economics on how the human mind works. It considers how understanding the functioning of the human mind allows us to design a better world—in particular, better stock markets, retirement and healthcare systems. 

This course covers the foundation of international political economy, theories and approaches in international political economy, changes in global political and economic orders, power relations and bargaining processes in international politics and their impact on allocation and distribution of economic resources, and transnational factor and resource mobilization.

This course covers key knowledge points in the tourism industry, starting with the overall characteristics of tourism under the trend of globalization. It is structured based on the "Four Major Tourism Characteristic Industries" recommended by the World Tourism Organization (TSA), and includes course designs for the travel agency industry, hotel industry, scenic spots (attractions) industry, and tourism transportation industry. From the perspectives of key customer groups and overall strategy, it provides a detailed analysis of the stage characteristics and development trends of these industries. Subsequently, the course focuses on important supporting related industries such as the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry and the aviation industry.

This course introduces basic facts and theoretical models regarding economic interconnections within an increasingly integrated world. The course provides students a global view and understanding of interdependence among all countries. Its content includes a current and an historical overview of trade and its impact on economic growth, the classic theory of free trade, recent developments in theoretical models and relevant empirical evidence and major policy issues arising in open economies that are becoming more relevant today. The course covers traditional (neoclassical) economics and also discuss various challenges presented to such a framework, especially based on experience of developing countries.

This course examines the functions of financial markets in society. It starts with the history of financial markets, then turns to a non-technical introduction to modern finance theory. Based on a solid understanding of the theory, students are able to interpret information revealed by financial markets and to recognize common abuses of such information in policy-making. The last part of the course concerns the interaction between finance and politics, i.e. how legislation and regulation directly influence the structure of financial markets and how players in these markets intervene in the political process to create or modify legislative and regulatory outcomes. Students participate in economic experiments that illustrate the fragility of financial markets.

The course builds upon ECO1011S and provides the analytical tools and formal models to explain the behavior of output, inflation, employment, interest rates, and other economic aggregates. These tools are used to understand current economic issues, forecast the behavior of the economy, and assess the impact of policy choices. The course allows students to understand the behavior of households, firms, governments and Central Banks. It starts with analyzing the short run behavior of the economy and then moves on to explore the open economy and exchange rates. Finally, it looks at the long run and assesses the role of technology and population growth on aggregate economic growth using the Solow growth model. Course entry requirements: ECO1010, ECO1011 and MAM1010 (or an equivalent) or MAM1031F or MAM1032S. 

This course covers international economics in general, including international trade theory, international trade policy, international finance, and international organizations. This course introduces the economic principles of international trade of goods and capital movement in the global economy. 

Topics include Ricardian trade model, Heckscher-Ohlin trade model, Specific factors model, External economies of scale and trade, Firms in the global economy, Instruments of trade policy, Political economy of trade policy, Exchange and interest rates, Financial globalization and more. 

It is recommended that students take microeconomic theory and macroeconomic theory first before taking this course. 

This course examines the main issues of the economic development in Chile, highlighting its strengths and challenges. Topics include historical social development, the Chilean Pension system, labor markets and informality, privatization, regulation and competition policy, trade policy, and relation of fiscal policy and economic development.

This advanced course builds on prerequisite courses in business administration and economics, such as financial accounting, intermediate accounting, financial management, statistics, and economics. This course strengthens an in-depth and balanced view of the usefulness and limitations of financial statement analysis and corporate valuation concepts.  

Topics include Capital raising priorities and investment decisions, Expected shareholder return and performance evaluation, Weighted average cost of capital and return on invested capital, Growth strategy and financial debt, Importance of working capital management, financial liabilities and operating liabilities, New capital securities and investment decisions, Performance evaluation and income statement, Operating cash flow and EBITDA, Strategies and valuation for improving intrinsic value, Utilization of PBR and PER concepts, Diversification and concentration strategies.