Economics

The course focuses on the relationship between the government and the market in terms of both equity and efficiency. The Nordic welfare state is analyzed both empirically and theoretically, with a special emphasis on the case of Sweden. The course gives the necessary economic tools to judge when government interventions are motivated, how these interventions can be done efficiently, and which problems can arise due to imperfect information and other deviations from a perfect market environment. The course includes a history of the development of the Swedish welfare state and considers arguments for and against the Nordic welfare state model. The course proceeds by covering a range of the many tools at the disposal of policymakers for jointly maximizing welfare and equity, keeping track of both the spending and the financing of the public sector. Topics covered include public goods, externalities, environmental policy, public insurance, income redistribution, efficient and equitable taxation, retirement policies, privatization and quasi-markets, fiscal federalism, and the constraints on fiscal policies imposed by globalization. Part of the course is also devoted to how collective decisions are made and the challenges involved in a collective decision process.

This course provides the opportunity to learn how to apply knowledge and skills to address complex social and environmental problems. This course is structured around experiential problem-based learning, providing the opportunity to synthesize theory and practice. Topics include critically reviewing concepts; user-centered design of social and environmental enterprises; frameworks for understanding and strategizing; understanding and reporting social and environmental impact; and cross-sector collaboration. Prerequisites: two introductory business courses.

This course provides students with a thorough understanding of core techniques of quantitative economics and econometrics and their application to test economic theories and measure magnitudes relevant for economic policy and other decisions, as a foundation for subsequent study of quantitative topics, and as one of the key elements in the professional training of an economist.

This course provides an overview of the main areas of behavioral economics. It presents a wide range of behavioral findings which have advanced our understanding of how economic agents form beliefs, act, and interact in various contexts. It discusses how to incorporate the traditional micro-economic framework to some features of human nature such as altruism, emotions, biased perceptions of risk and time, biased interpretations of information, and bounded rationality. The course studies simple economic models, reviews empirical research, and devotes particular attention to the presentation of experimental methods in economics. It also discusses how behavioral economics can improve the design of effective public policies.

This course introduces the structure and organization of firms in an industry. The welfare implications of output and price determination under major market structures (monopoly and perfect competition) are briefly discussed. Special emphasis is given to the determinants and measurement of industrial market structures.

This course develops a fundamental understanding of the inherent dynamics of international management. It provides a comprehensive overview of the management decisions in the global environment and challenges students to analyze complex situations and develop recommendations for strategic decisions independently. Through the analysis of case studies, interactions with guest speakers, and an in-depth group project, the course offers a theoretical understanding of international management, but also a more practical application, analyzing best practices in management and frameworks as well as failures and lessons to be learned moving forward.

This course must be taken simultaneously with LABOR ECONOMICS AND PUBLIC POLICY A. This course explores how labor markets work and analyzes a wide range of labor issues within Japanese and US economies. Each class begins with the theoretical background of labor economics, then students analyze a related research article to understand how and whether the standard, neo-classical model is applied to real economic life.

This course examines current international economic topics including: purchasing power parity, inflation, economic inequality, the economic impact of environmental pollution, ESG investing, CSR (corporate social responsibility), speculative attacks, and international financial crises. 

This course covers sources of and obstacles to economic growth and development in Asian economies, focusing on the role of innovation, internationalization of firms, industrial clusters, institutions (including political institutions), and social capital. Each topic entails a review of basic theory and empirical evidence from growth theory, international economics, development economics, economic geography, economics of institutions, or network science; then an examination of Asian experiences. Classes consist of class discussions and presentations.