Economics

This course analyzes the economic issues related to the process of European integration through a theoretical and a policy perspective. Through the study of economic integration theories and the main European Union (EU) policies, students are able to acquire a critical perspective of the basic issues leading to the development of the European Institutions and the different historical phases of the European Union, ultimately giving birth to the Economic and Monetary Union. The course is composed of three parts. The first part of the course is devoted to the study of the theory of economic integration, considering the market of goods (customs unions, free trade areas), of factors of production (common markets) and the coordination of economic policies (economic union). A link is made between the theoretical instruments and the actual evolution of the European integration process. The second part explores the main European policies (common objectives, instruments, and financial means), their evolution over time and the corresponding mechanisms of governance. The third part of the course is centered on the Economic and Monetary Union and its effects for the European economy. 

This course examines the approaches and policies adopted by Middle Eastern countries in the pursuit of economic and social development, and the theories developed by scholars to explain the region’s political economies and its problems with development. The course includes details on the historical trajectories of Middle Eastern economies and political systems, from the post-independence state-led period, through the impacts of the 1970s oil boom, attempts at economic liberalization, the impacts of globalization and technological change, and the aftermath of the post-2011 Arab uprisings. Using case studies from the Arab world as well as Israel and Iran, the course introduces key theories of political economy as they have been applied to the Middle East including: modernization theory, dependency theory, rentier state theory, liberalism and neoliberalism, and Islamic economic ideas. Economic development in the region has been tortuous and uneven, hobbled as much by non-economic factors as by economic ones. 

This course offers an introduction to the financial decisions of firms, in particular capital budgeting; the financial decisions of households; the role of the financial system in the economy and the flow of funds; and causes and consequences of the recent financial crises.

This course provides the basis for understanding the current trends in international trade, including the growth of unilateralism and protectionist pressures and the crisis of the world trading system. 

Students explore cutting-edge research on climate politics and critically analyze various theoretical concepts and models, assess the advantages and drawbacks of different empirical approaches, and draw connections to core debates in international political economy and political science. Students gain familiarity with the frontier of climate politics scholarship, learn how to constructively critique academic work, and develop skills in designing and executing rigorous political economy research.

The course explores the major theoretical models of Political Economy and the available empirical evidence. Sample topics include social choice theory and preference aggregation; comparative electoral systems; political economy of income redistribution; turnout in elections; strategic and sincere voting; political parties; debates and communication; political agency models; citizen-candidate models; and empirical studies of political selection, representation and policy outcomes, bureaucracy, gender and politics, and conflict. Empirical studies will be mostly focused on developing countries.

This course introduces game theory and its useful applications. The course presents how to identify the common abuse of game theory and to avoid incorrect use of its terminology. The course covers basic concepts and techniques in game theory and applies these concepts and techniques to the analysis of different types of games. Topics include Nash equilibrium, sequential games, simultaneous games, sequential-simultaneous games, prisoners' dilemma, strategic moves, evolutionary games, collective action, uncertainty and information, and consolidation. 

Economic and especially wealth inequality in the US is rising, along with the number of and power exerted by billionaires, multibillionaires, and multinational enterprises (MNEs). While taxes count as one key instrument to reduce inequalities, the most affluent individuals and corporations seem to make use of multiple pathways to circumvent their tax obligations and thereby harm the redistributive effect of taxation. In this seminar, students will become familiar with general economic and sociological theories on tax evasion and avoidance, and challenge the view of tax havens as Caribbean island paradises, where the rich and famous store their money. We will discuss ways in which tax evasion works, the impact of tax havens on regional and global inequality, historical developments of tax havens, and economic approaches to measure tax evasion. Students are expected to have knowledge or the willingness to learn basic sociological as well as economic concepts and theories such as tradeoffs, opportunity costs, and expected utility theory. 

Environmental economics provides theories and techniques, which help students understand some important and controversial issues, such as climate change, nuclear power, recycling policy, and traffic congestion charging. Frameworks taught at the course can be used to evaluate various important policy questions such as: should air regulations be tightened or loosened? Does economic development necessarily result in a high environmental price? Is there a "Race to the Bottom" in environmental regulation? Are we running out of oil and other natural resources? What are the costs of climate change in the UK and other countries? Analysis of various political facets of environmental policymaking are an important part of the course. 

This course delves into the unique economic dynamics of urban spaces, examining the interaction between land use, transportation, housing markets, public policy, and urban development. Through theoretical frameworks and empirical analysis, students gain a comprehensive understanding of how economic principles apply to the complexities of urban environments. Topics include: Does it matter where you live? Why do cities exist? The Four quadrant model, Roback Model, Land Use Patterns and Rents, Monocentric City Model and its applications, The Role of Cities and City Size, Neighborhood Quality and Sorting, Regional Economies, Regional Growth and Development Model,  Suburbanization, Subcenters, and Urban Sprawl, Zoning, Highway Congestion, Local Government and Property Tax, Trade Liberalization and Local Labor Market, and Housing Policy.