Economics

This course examines the processes of political and social changes and their impact on economic institutions and processes. Topics include: how to make collective decisions for a group of individuals with heterogeneous needs and preferences; typical failures of different voting rule; designing a voting rule that makes rational decisions and satisfies some minimal democratic requirement; how governments and electoral competition work; why economic competition and electoral competition are so different in nature; the role and influence of interest groups in the political process.

There is wide consensus that Asia is a major engine of recent global economic growth. Does this mean that Asia is a new economic power, or that the current growth indicates the resurgence of Asia? The answer to this question requires good historical knowledge of Asian economy in a global perspective. This course aims to provide such knowledge. 

The course focuses especially on Southeast Asia from the early time to the mid-twentieth century, discussing the following themes: natural environment; economic foundation of early states; changing demands in the global markets where consumption cultures were constantly changing; production development of particular products; regional and global trade; movement of labor; economic and social impacts of colonization, and struggles for economic decolonization. 

To prepare for this course, it is recommended to enroll in the course offered in the fall semester, "Economic History of Southeast Asia," which focuses more on the developments in the post-WWII period.

Consultants offer their professional advice to client organizations by leveraging their knowhow in the fields of management. Consultants often assist clients in the change process, and in some cases act as key characters in the implementation phase. Today, more than in the past, consultancy has become a viable professional development alternative, typically offered to young students from graduate or undergraduate degrees. The course focuses on the process side of the relationship between clients and consultants. The course also deals with the characteristics of the industry and with some key features of the profession. 

This course primarily focuses on the identification of financial assets' fair prices. First, the course introduces the main theories of portfolio choice and risk-expected return trade-off in financial markets: the mean-variance portfolio choice, CAPM, APT, Fama-French models. Second, the course introduces the main models and techniques that are used to analyze fixed income securities. Starting from basic concepts such as the yield curve, yield-to-maturity, duration, convexity, the course introduces portfolio hedging strategies based on duration-matching or asset liability management. The course is divided into four parts. First, the course introduces the students to the problem of managing a portfolio. Second, the course introduces the students to the main models and techniques that are used to analyze fixed income securities. Third, the course introduces options pricing. Fourth, the course expose the students to the main behavioral finance findings in the current literature.

This course introduces the key issues and debates in the economics of globalization. While the benefits of economic globalization are generally accepted in the public arena, the process is known to create some new challenges for consumers, firms, governments and international organizations. This course looks at both opportunities and challenges created by globalization. Concepts and models from international economics are blended with historical analysis to provide an overview of the unfolding process of globalization over the long-term and the economic and political economy factors underlying that evolution. The course also covers specific (country) case studies with the impact of globalization on issues such as poverty, income inequality and the environment. It takes the inter-disciplinary analytical framework, drawing not only in in economics but also political science, and business strategy to illustrate a multi-faceted feature of ongoing globalization.

The course introduces and develops an economic framework for business analysis and corporate valuation. The main focus is on integrating key concepts of economics, accounting, and finance in order to effectively evaluate the information content of financial reports; develop up-to-date applied knowledge of fundamental valuation techniques; and successfully implement investment strategies.

This is an introductory course in microeconomics. The course begins with a discussion of economic history, the characteristics of different economic systems, and the factors influencing economic development following the Industrial Revolution including utility-maximization theory of consumption, optimal-bundle, and indifference curve analysis. Game theoretical frameworks are reviewed to model social interactions amongst economic agents before applying this framework to wage-setting relationships in the labor market. Applications of experimental economic methods are also briefly explored. Finally, standard neo-classical theories of supply and demand as well as firms’ pricing decisions under differing levels of market competition are introduced.

This course provides an overview of the economics of Globalization and Development. The first part of the course takes a historical perspective and focuses on globalization and development up to the Industrial Revolution. The course discusses the main driving forces: geography, culture, and institutions. The second part of the course first introduces several models of development and underdevelopment, with an emphasis on capital accumulation, rural-urban migration and the possibility of poverty traps. Next, it moves on to explore the influence that international trade, financial globalization and international migration have on modern development. Finally, the course turns to examining in more detail the agricultural and industrial sectors and what governments can do to facilitate their transformation as well as the development of the whole economy.

This course provides an understanding of the challenges associated with the transition from fossil-based fuels to renewable energy, considering both the supply and demand side of energy markets. This includes the technological challenges of introducing renewable energy in the energy system and the regulatory challenges of designing optimal policies to facilitate the transition. While the course generally deals with the several energy markets, special emphasis is placed on electricity markets due to the significant role of electricity in a carbon neutral energy system. The course applies theory and analytical tools from microeconomics, macroeconomics, and econometrics. A large part of the course is also based on numerical structural models of the energy system.

This course introduces the time series models used to analyze time series data with a special emphasis on applications in macroeconomics and international finance. The course has two specific objective: the first is to equip students with the tools they need for empirical research, while the second is to provide Eviews skills to conduct empirical analysis with an emphasis on practical implications and interpretations. The course is built so that the time series model is presented first for each topic, followed by the relevant computer exercises using Eviews.