Economics

This course studies the transmission mechanisms, effectiveness and limitations of monetary policies in coherent macroeconomics models. Course topics include: monetary policy in a basic macroeconomic model; aggregate supply and aggregate demand analysis; classical and Keynesian approach; transmission mechanism of monetary policies; implications of expectation on monetary policies; rational expectation; monetary policy: discretion vs rules; role of capital market imperfections; frictions in the capital market; implications of capital market imperfections on the transmission mechanism; asset prices, financial crisis and monetary policy; Japan and quantitative easing; sub-prime crisis and quantitative easing in the US; credit booms and asset bubbles. Text: Frederic Mishkin, THE ECONOMICS OF MONEY, BANKING AND FINANCIAL MARKETS. The textbook provides the basic materials of the course. The rigor of the course goes beyond that of the textbook. Additional references from journal articles are used.

This course provides an introduction to cost accounting with emphasis on approaches and techniques for product costing, cost control, and providing financial information for managerial decision-making. Topics include the manager and management accounting, an introduction to cost terms and purposes, cost-volume-profit analysis, job costing, activity-based costing and activity-based management, master budget and responsibility accounting, flexible budgets, direct-cost variances, and management control, inventory costing and capacity analysis, allocation of support-department costs, common costs, and revenues, cost allocation: joint products and byproducts and process costing.

This course introduces the main concepts of modern labor economics. It covers the relation between labor market and other markets. The course combines microeconomic and macroeconomic analytical tools to analyze how society develops, allocates, and rewards human resources. It then studies a wide range of labor-related issues with special emphasis on empirical evidence in the literature and the evidence reported by government agencies and policy makers. The basic data analytic tools are introduced and discussed at length. Topics of focus include the theory of human capital, labor supply, labor demand, the life-cycle model, immigration and migration, and the role of unions.

This course provides an introduction to the study of International Political Economy (IPE). IPE is a field of research that combines the study of politics and economics, exploring both domestic and international factors that impact preferences, behaviours, and policies relating to economic globalisation. The course will cover major topics of inquiry within IPE such as the politics and policies relating to international trade, international investment, and international finance. Students will be introduced to theoretical and empirical research analysing each topic covered. By the end of the term, you should have a firm understanding of IPE as a discipline, including ways in which the field’s insights can inform policy-making.