Economics

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.

The majority of the course focuses on analysis of inequality and poverty using monetary measures of living standards. The final section of the course broadens the perspective to consider a range of non-monetary and multidimensional measures reflecting the "Beyond Income" agenda.

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.

Artificial intelligence is the technology that is commonly recognized to have profound impact to the economy and every aspect of human life. This course will focus on exploring how AI affects various aspects of the economy. We will focus on discussing the effects of AI on macroeconomics, labor market, education, as well as how AI combined with big data will transform business strategy, including issues such as individualized recommendation system, market design, data trading, etc. We will also discuss more fundamental ethnical issues such as privacy concern, algorithm discrimination, inequality and welfare. We will then have a better understanding of government policy regarding the AI technology.

More than half of the world's population today live in urban areas, and this share is expected to increase. Modern cities are highly complex political and economic systems. But with the complexity also comes the challenge of how to organize them well. This course applies concepts and theories across philosophy, politics, and economics to the challenges of urban living. The course is divided into two parts. The first part will introduce students to the key theoretical debates relevant to the socio-political organization of the city. Students investigate whether living in the city is qualitatively different to living elsewhere. During the second part of the course, students apply this theoretical knowledge to concrete problems and case studies: urban informality, sanctuary cities, housing, residential segregation and proposals for urban independence.