Global Arc

Foreign exchange markets and balance-of-payments accounts. Effects of incomes, prices, interest rates, and exchange rates on trade and capital flows. Effects of exchange rate arrangements and capital mobility on macroeconomic policies. Current policy issues: exchange rate management, macroeconomic policy coordination, managing currency crises, the roles of international institutions.

Hunger and under-nutrition are widespread in poor countries while an obesity crisis is growing in rich countries. Rural-urban income inequality occurs throughout the world and farming and food industry practices everywhere have significant adverse effects on public health and the environment/climate. What are the economic causes of these problems? Are agricultural, food, nutrition and environmental policy measures currently proposed to deal with these problems effective? This course uses theoretical and empirical economic analysis to study the agricultural and food sector and related government policies in rich and poor countries.

The course explores the increasing weight of Asia in global financial markets. It frames the discussion in the context of the globalization of financial markets, with emphasis on concepts of economic development, institutional reform of markets, and public and private market investments. Discussions combine analysis of historical trends and recent events with insights from practical experience in Asian markets. Particular focus is devoted to China and Japan. The course explicitly considers China's gradual shift toward a capital market-based financial system and prospects for the development of the renminbi into an international currency.

Using applied microeconomic theory and case studies, this course examines the impact of digital technology on markets. In a connected market, information is freely and instantly available to all participants. We ask how these features affect the way markets function. Topics include the economics of platform markets and multisided markets, the impact of the internet on the news media, education, health care and new industries, such as big-data driven industries, social networks, technological innovation and intellectual property, internet security, privacy and other regulatory issues.

Foreign exchange markets and balance-of-payments accounts. Effects of incomes, prices, interest rates, and exchange rates on trade and capital flows. Effects of exchange rate arrangements and capital mobility on macroeconomic policies. Current policy issues: exchange rate management, macroeconomic policy coordination, managing currency crises, the roles of international institutions. Two lectures, one preceptorial. Prerequisites: ECO 100 and 101.

The course deals with the judgments required to analyze and communicate information about economic events of a firm through financial accounting. The first several classes deal with concepts of asset, liability, owners' equity, revenue, expense and the accounting processes that lead to the financial statements. Next follows an analysis of the components of financial statements: long-term liabilities, revenue recognition and income management, inventories, long-term assets, impairment and leasing chaos, off-balance sheet financing, and current controversies such as income tax inversions. Rudiments of financial analysis and valuation.

A survey of the field of investments with special emphasis on the valuation of financial assets. Issues studied include how portfolios of assets should be formed, how to measure and control risk, how to evaluate investment performance, and how to test alternative investment strategies and asset pricing models. Prerequisites: ECO 202, ECO 310 and MAT 175 or equivalent. ECO 202 or equivalent may be taken concurrently, but students would remain responsible for statistical concepts as they arise in this course. Two lectures, one precept.

Investigates the financing decisions of companies and financial institutions in the wider context of the workings of financial markets. Topics include capital budgeting, capital structure choice, risk management, liquidity, corporate governance, and the interactions between corporate finance and the workings of financial institutions and markets. Prerequisite: ECO 362. Two lectures, one precept.

This course provides an introduction to empirical methods in finance research. The goal is to allow students to gain some experience in working with financial data and learn some empirical methodologies commonly used in finance literature. The goal is not to provide a complete survey of all methodologies used in empirical finance, but rather focus on a selection of topics and study them in depth. Topics covered include asset pricing models, momentum, and derivatives.

These courses will provide an opportunity to apply the concepts and methods studied in economics core courses and electives to analyze the economic problems confronting particular countries or groups of countries. The choice of the country or region, and of the economic problem, will change from year to year. Prerequisites depend on topic. Two 90-minute lectures.