Economics

The twenty-first century is an age of unprecedented globalization. To better understand globalization, the course introduces the core models of international trade: Ricardian Model, the specific-factors model, and the Heckscher-Ohlin model. The course also deals with the research frontier by explaining how increasing returns and product differentiation affect trade and welfare. Finally, the course is devoted to understanding trade policy.

Prerequisite: ECO2102 Microeconomics

Exploring advanced theories used to understand financial markets in the context of corporate borrowing and lending, students discuss financing frictions that differentiate the functioning of perfect and imperfect capital markets. They then build on these theories to understand security design and the process of security issuance in equity markets. By applying the course material students evaluate corporate risk management and hedging, understand the role of corporate control, and the interaction of control rights and cash flow rights.

This course provides a largely non-technical introduction to the basic concepts and methods used by economists to understand and explain the features of the world economy today. Students explore globalization of trade and finance; the emergence of global value chains and the rise of China and India; and the winners and losers of globalization within rich and developing economies.

This course is about the analysis of data within economics, and the interpretation of empirical results. The course provides an introduction to the application of economic theory to data; develops an understanding of simple and commonly used econometric techniques; imparts an ability to understand and interpret results both statistically and economically; and introduces students to widely used software in applied economics (STATA).

The course looks at developing models that are motivated by empirical evidence of individual behavior rather than assumptions about rationality. Students look at leading academic papers in the area to assess the empirical evidence (field and experimental) and the implications for standard assumptions on rationality and to look at how the theory has been developed in the light of this evidence. Topics covered include decision making under certainty, decision making under uncertainty including prospect theory, experimental economics and/or neuroeconomics, intertemporal choice, self-control, behavioral game theory, case studies on saving and obesity, and the economics of happiness. 

The goal of this course is to introduce the classical theories in the field of digital and behavioral economics, combined with real cases. By taking the course, students can have a certain understanding of the basic knowledge, current development and research frontiers in the field of digital and behavioral economics.

This course will take digital economics as the main line and basis. Firstly, it introduces the composition and development of digital economics from the macro-perspective. Besides, it mainly focuses on the platform economics, which is a new organizational form spawned by the digital economics. The lecture will cover topics including the development of platform, the main characteristics, the core problem, special issues and the regulation. Some relevant behavioral studies will also be introduced in order to help better understand the platform and its participants ’strategic behavior and intention.

An understanding of economic history lends clarity to many questions in economics. Among these are: The extent and impact of globalization; the determinants of the wealth of nations; the occurrence and impact of financial crisis; and the importance of economic institutions. Each of these putatively modern questions have long historical antecedents. Students treat these questions with a modern rigor, studying work that uses theoretical and econometric analysis.

This course examines the application of economics to the analysis of policy issues facing governments in Australia and overseas. It begins with a general introduction on the application of principles of microeconomics for guiding the formulation of policy options and their interpretation. It then explores in detail specific topics drawn from health economics, microeconomic reform, income distribution, poverty or other relevant policy areas. For each specific topic the subject presents and evaluates results in the literature and analyses future policy options and their effects.

This course explores the emergence and key concepts of the global market for art from the 18th to the 21st centuries through a discussion of its history, disruptions, and innovations. The course takes a thematic approach delivered via specific case studies to map the key concepts, individuals and institutions, and the various business models, and ethical and legal considerations that underpin the contemporary market. Students gain an understanding of the globalized art market economy through a comparative study of different geographical market regions across time, including the emergence of new global art market centers and the rise of the millennial collector. Throughout, the auction house and the unique behind-the-scenes access afforded to students of Sotheby’s Institute of Art, provides a detailed and practical case study of the history, development, and future of this market.