Economics

This course provides an introduction to the major economic issues of our time in order to master conceptual and empirical tools. The teaching style reverses the way economics is traditionally taught; instead of starting with the derivation of models, this course starts with a historical or current question or issue and sheds light on it through the use of economic models and concepts. It covers both the benefits of modeling and the inevitable shortcomings of the models used. The course provides a better understanding of major contemporary debates and issues with a strong political and social dimension, such as inequality, climate change, the sources of prosperity and innovation, economic instability and crises, and economic and public policy. It offers a rigorous theoretical introduction informed by recent empirical research and incorporates recent advances in economics, including strategic interactions, contract and information theory, behavioral economics, and new experimental methods. Microeconomics and macroeconomics are treated jointly.

This course introduces the basic economic rationale of major innovation policy measures as well as the principles and methods used for their evaluation. It covers simple treatments of the key economic problems addressed by the most important among such policies, coupled with data and examples on how they are implemented and evaluated. Topics include: key vocabulary, market-failure versus systemic policies, supply- versus demand-side policies, knowledge as a public good, supply-side policies; R&D policies: public science, public support to private R&D; intellectual property rights: classic model (dynamic versus static welfare trade-off), advanced topics (cumulative innovation), demand-side policies; and diffusion of innovations.

This course provides an overview of modern financial markets and instruments and introduces the fundamentals of valuation and financial theories that help understand asset prices and investments.  The course covers money markets; capital markets; fixed income securities; derivatives; portfolio theory; the Capital Asset Pricing model; the Arbitrage Pricing Model, and market efficiency. 

This course gives an overview of quantitative finance and introduces mathematical concepts and data analytic tools used in finance. The topics include interest rate mathematics, bonds, mean-variance portfolio theory, risk diversification and hedging, forwards, futures and options, hedging strategies using futures, and trading strategies involving options.

The motivation behind this course ensures that students, regardless of their background, can comprehend economic knowledge through real-life examples they have directly experienced or encountered in the media. Additionally, the course aids students in formulating rigorous logic and enhancing communication skills through the analysis of various case studies, both individually and in groups. The opportunity to share thoughts with peers further contributes to their development. Overall, the course provides principles and frameworks that assist in making better decisions in various aspects of life.  

This course approaches the economics of refugees as a theme in its own right within the economics of migration. It provides a comprehensive overview of the contemporary issues involved in receiving people who are forced to move to developed countries. It considers subjects that the tools of economics can decipher and interconnect to inform public decision-making, such as international law, public policy, the behavior of populations in host countries, the impact on the labor market, and climate change, as well as NGOs, international institutions, and companies in the social economy. 

This course introduces topics relevant for understanding the modern framework for evaluating investment opportunities. It combines key elements of managerial accounting and finance, as well as modern portfolio and asset pricing theory. The course discusses how to apply the core tool of analytic finance to assess the value of company projects, including those undertaken by start‐ups, and how to analyze financial market conditions to recommend investment strategies. The course discusses topics including key accounting metrics and applying these metrics to evaluate the performance of a company; identity and interpretation techniques to value cash flows from investing in firm projects; developing equity valuation frameworks that link stock prices to firm cash flows and risk; deriving optimal allocation rules for investing in portfolios with one or two risky assets; identifying optimal portfolio allocation rules for many risky assets, such as stocks, commodities, real estate, and bonds; combining the optimal allocation rules with index models to identify the degree of diversification in an optimal portfolio; hypothesizing and deriving a linear relation between risk and expected returns; define factors that determine bond prices; and synthesizing bond pricing relations with no‐arbitrage equilibrium models of spot and forward rates.

This course presents the main principles of International Political Economy (or Global Political Economy), which studies globalization, i.e. the reciprocal interaction between international relations, economics, and politics by gathering knowledge from history, international relations, politics, economics, and sociology in an innovative way. The course provides a broad overview of the frameworks of analysis, actors, institutions, issues, and processes responsible for international relations, the causes of war, inter-state economic competition, and the structural configuration of power in the global context. Therefore, it tries to analyze global affairs into a three-dimensional perspective: statist logic, market logic, and institutional logic. It also provides both academic skills and applies these skills for professional outcomes. The course relies on readings, class debates, and the study of factual cases.

This course explores ethics by examining different ethical theories and their influences on economics, governance, and business. The course follows the multidisciplinary approach that we take at the Utrecht University School of Economics and in its bachelor program to broaden your perspective on economics and society. It continues the approach taken in Multidisciplinary Economics, assuming that you have developed sufficient knowledge of the basics of economic thinking. This course trains participants to reflect upon this knowledge and discuss some alternative approaches. This course revolves around and integrates the central topic of Technology and Society, and the social impacts of business in addressing various themes, such as fairness, equality, social responsibility, and sustainability. Prerequisites Knowledge at the level of the course 'Introduction to Economics and Business Economics' is assumed.

Development economics is a relatively new and unique field, emerging after post-World War II decolonization and is unique in certain aspects. This course covers the leading issues in economic development for social science students, promoting a balanced understanding based on theories and empirical research. Starting from a basic understanding of poverty, inequality and economic growth, this class focuses more on international issues that less developed economies face in present time, such as trade, foreign direct investment, balance of payment crisis, and structural adjustment, as well as other policy issues.