Markets and the Economy

• Instructor: Kristina Manysheva
  Info
• Instructor: Jesse Schreger
  h-index: 11 Info
• 1.5 points

Global Economic Environment

• Instructor: Kristina Manysheva
  Info
• Instructor: Conor Walsh
  Info
• Instructor: Faculty
  h-index: 37 Info
• 1.5 points

Banking & Monetary Policy in the Global

• MTWRF 9 a.m.-6:30 p.m.
• Instructor: Faculty
  h-index: 37 Info
• 3 points

Managerial Economics

• MW 2:20 p.m.-3:50 p.m.
• MW 4:10 p.m.-5:40 p.m.
• MW 9 a.m.-10:30 a.m.
• MW 10:50 a.m.-12:20 p.m.
• Instructor: Viola Corradini
  Info
• 1.5 points

Global Economic Environment

• MW 9 a.m.-10:30 a.m.
• Instructor: Brett House
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• Instructor: Kunal Sangani
  Info
• 1.5 points

Economics of Strategic Behavio

This course examines the underlying economics of successful business strategy: the strategic imperatives of competitive markets, the sources and dynamics of competitive advantage, managing competitive interactions, and the organizational implementation of business strategy.The course combines case discussion and analysis (approximately two thirds) with lectures (one third). The emphasis is on the ability to apply a small number of principles effectively and creatively, not the mastery of detailed aspects of the theory. Grading is based on class participation and online case quizzes (35%), two case write-ups (20%) and a final group paper (45%). The course offers excellent background for all consultants, managers and corporate finance generalists.

• MTWRF 9 a.m.-5 p.m.
• Instructor: Jacopo Perego
  Info
• 3 points

Financial Markets and the Macroeconomy

Financial Mrkts & the Mac

This is a lecture course that is intended to help you understand the role that financial markets play in the business environment that you will face in the future. It also provides an understanding of the underlying institutions that either help financial markets work well or that interfere with the efficient performance of these markets. This course develops a series of applications of principles from finance and economics that explore the connection between financial markets and the economy. In addition, it will focus on many public policy issues and examine how the most important players in financial markets, central banks, operate and how monetary policy is conducted. The course will have a strong international orientation by examining monetary policy in many countries and possible reforms of the international financial system. We will also focus on current events reported in the financial press by devoting one class hour per day to an extensive class discussion of current economic events and will use the analytic frameworks developed in class help us to understand these developments.

• Instructor: Frederic S Mishkin
  Wikipedia Info
• 3 points

Climate Policy

Climate change is the world’s most perfect public policy problem: it’s more global, more long-term, more uncertain, and more irreversible than most others. It stands alone in the combination of all four. That also turns it into the world’s most perfect global externality problem: the benefits of fossil-fuel use are internalized, the costs largely externalized. And while misguided market forces are the root cause of climate change, guiding them in the right direction is fundamental to the solution. In this course we explore the fast-changing global climate policy landscape shaping business. We explore the economic principles at work, analyze individual corporate and finance efforts to lead, dive into the regulatory environments around the world, and look to how the clean-energy race creates unique challenges and opportunities.

• M 2:20 p.m.-5:35 p.m.
• Instructor: Gernot Wagner
  Wikipedia Info
• 1.5 points

ECONOMICS OF STRATEGIC BEHAVIOR

This course examines the underlying economics of successful business strategy: the strategic imperatives of competitive markets, the sources and dynamics of competitive advantage, managing competitive interactions, and the organizational implementation of business strategy.
The course combines case discussion and analysis (approximately two thirds) with lectures (one third). The emphasis is on the ability to apply a small number of principles effectively and creatively, not the mastery of detailed aspects of the theory. The course offers excellent background for all consultants, managers and corporate finance generalists.

• TWRFS 9 a.m.-5 p.m.
• MW 2:20 p.m.-3:50 p.m.
• MW 10:50 a.m.-12:20 p.m.
• Instructor: Jacopo Perego
  Info
• Instructor: Paola M Valenti
  Info
• 3 points

Globalization & Markets & the Changing E

Recent years have seen closer integration of countries around the world, with increased flows of goods and services, capital and knowledge. There are two alternative views concerning globalization: one, reflected in the protest marches from Seattle to Genoa, argues that globalization has hurt the poor, has been bad for the environment and is governed by undemocratic institutions operating behind closed doors, advancing corporate and financial interests of the more developed countries. The other argues that globalization is the only means by which developing countries will be able to grow and eradicate poverty. This course tries to enhance understanding of these alternative perspectives. It analyzes the underlying forces that have led to globalization and identifies its effects, particularly in developing countries and when and why it has had the adverse effects that its critics claim and when and why it has had the positive effects that its proponents argue for. It also examines the need for international collective action, discusses the structure and conduct of international economic organizations and assesses the extent to which they are to be blamed for the failures of globalization or should take credit for its successes. The course ends with a discussion of alternative reforms of the global economic architecture."

• TWRFS 9 a.m.-5 p.m.
• 3 points

Climate Risk

Climate risk is real. It is costly to the economy, society, and the world, as evidenced by high and ever-increasing Social Cost of Carbon (SCC) estimates. Most businesses and corporations, meanwhile, experience climate risk mostly indirectly, via policy, technology, and market risks. This class focuses on climate risks head on, exploring to which extent they also pose direct financial risks to business now and in the near future. Along the way, we will answer a number of questions, such as: If climate change is so costly, why does it not show up (more) in asset prices? If climate pollution is so bad, why is polluting so profitable? We will also dive into questions around insurability of physical assets like real estate, stress testing of financial assets, and corporate scenario planning. Lastly, we will discuss risk as opportunity for those relatively better able to take advantage of risks and uncertainties.

• M 9 a.m.-12:15 p.m.
• M 2:20 p.m.-5:35 p.m.
• Instructor: Gernot Wagner
  Wikipedia Info
• 1.5 points

Financial Empowerment Lab NYC

Financial Empowerment Lab NYC is a new “experiential” course at Columbia University for business and law students, being developed by Stephen Zeldes and Ed Morrison that will launch in Spring 2025 (running mid-January through late April). The course will focus on financial health and empowerment in underserved
NYC communities, including Harlem and Washington Heights. Teams of 3-4 students each will partner with local non-profits and Community Development Financial Institutions (CDFIs) on a semester-long project that will culminate in a pre-specified deliverable. In the process, students will be exposed to clients of the organization, develop a better understanding of the financial and legal challenges facing underserved populations, and work on a project that will help the organization better fulfill its mission. This course emphasizes practical learning, innovative problem-solving, and strategic collaboration, enabling students to apply their skills in a meaningful context that contributes to economic justice and positive social change.

• W 9 a.m.-12:15 p.m.
• Instructor: Stephen Zeldes
  h-index: 23 Info
• 3 points

Financial Markets and the Macroeconomy

Financial Mrkts & the Mac

The course is intended to help students understand the role that financial markets and monetary policy play in the global economic environment that they will have to face in the future. It also provides an understanding of the underlying institutions, both political and economic, that either make financial markets work well or that interfere with the efficient performance of these markets. The course develops a series of applications of principles from finance and economics that explore the connection between financial markets and the macro economy. In addition, given the instructor’s prior position as a governor of the Federal Reserve, the class also provides an inside view on how the most important players in financial markets, central banks, operate and how monetary policy is conducted. The course will have a strong international orientation by examining monetary policy and financial crises in many countries and possible reforms of the international financial system. We will also focus on current events reported in the financial press with an extensive and open-ended discussion of 20-30 30 minutes in every class in which we will use the analytic frameworks developed in class to help us to understand these developments.

• MW 2:20 p.m.-3:50 p.m.
• MW 4:10 p.m.-5:40 p.m.
• Instructor: Frederic S Mishkin
  Wikipedia Info
• 3 points

FinTech: Consumer Financial Services

Technological innovation has been transforming the financial services industry, and further disruption is almost a certainty. Financial Technology (“FinTech”) start-ups are tackling many realms of consumer financial services, including mobile payments, foreign exchange, marketplace (peer-to-peer) lending, saving and investing, financial advice (robo-advisers), and property-casualty, health and life insurance.
The goal of this course is to understand the economic and technological forces driving this change and to learn how to harness them in a responsible way. The curriculum is organized by product areas within consumer financial services, and for each area we’ll cover the underlying economics, the technology, the public policy issues, the competition, and the potential for collaboration between start-ups and the incumbents. Note that we will not cover in depth the topics of cryptocurrencies and blockchain - if these are your primary interests, there are other courses offered focusing specifically on these topics.
A key component of the course is a collaborative team student project: each team will propose and develop a prototype for a new fintech venture. At the end of the semester each team will present its project to the class, and a guest from an NYC venture capital firm will join us and provide feedback.

• R 9 a.m.-12:15 p.m.
• Instructor: Stephen Zeldes
  h-index: 23 Info
• 3 points

Anti-Trust in the Modern Economy

Are Google search practices anticompetitive? Should Facebook be broken up? Does Amazon have too much market power? The course will present the economic rationale for competition policy and provide students with an understanding of the practice of competition law. Through the examination of prominent antitrust actions, we will review the economic theories underlying competition law and we will discuss how competition policy places limits on firm behavior and affects firm strategies and managerial choices. The course will start with an overview of the institutional framework of competition policy in the U.S. and in the E.U. and an economic analysis of welfare implications of market power. Then, it will address different types of actions that are the focus of competition policy enforcement: mergers, collusions, and unilateral conducts. These actions will be analyzed through the study of well-known antitrust actions in the U.S. and in the E.U. In particular, the course will focus on recent cases in the digital economy.

• MW 4:10 p.m.-5:40 p.m.
• Instructor: Paola M Valenti
  Info
• 3 points

Modern Political Economy

The purpose of the course is to help students understand, predict, adapt to and shape the evolving world of political economy from the various vantages they will hold during their careers. Part One examines the foundations of modern political economy laid by the grand masters Smith, Marx, Keynes and Schumpeter. Part Two examines development in American political economy during the 20th century. Part Three examines whether events so far in the 21st century signal sea changes in American and international political economy.

• TWRFS 10 a.m.-6 p.m.
• 3 points

Game Theory and Business

In most business circumstances, managers and organizations take decisions that affect each other. We call such situations games." Game Theory provides a framework for analyzing and predicting behaviors and outcomes in situations of strategic interaction. The goal of this course is to provide students with the essential tools of game theory, and demonstrate their use by applying them to a variety business situations and cases."

• MW 9 a.m.-10:30 a.m.
• MW 10:50 a.m.-12:20 p.m.
• Instructor: Andrea Prat
  Wikipedia h-index: 39 Info
• 1.5 points

The Media Industries: Public P

The course is designed to introduce law and business students to the unusual regulatory and business conditions and challenges in the media industries. A variety of topics are covered including intellectual property, the history and structure of the media industries, communications regulation, strategies of integration and consolidation and patterns of innovation in the media industry.

• M 2:20 p.m.-5:35 p.m.
• Instructor: Jonathan A Knee
  h-index: 5 Info
• 3 points

Economic Foundations of Business Decisio

Econ Foundations of Busi

This course will introduce students to frameworks for making better decisions in the business world, drawing from microeconomics and the theory of rational choice in a largely non-technical way. The goal is to equip students with the know-how to quickly analyze and optimize decisions that might otherwise result in paralysis or avoidable errors. The course will pair accessible explanations of economic tools with situations drawn from the workplace and everyday life.

• TR 10:50 a.m.-12:20 p.m.
• Instructor: Faculty
  h-index: 37 Info
• 1.5 points

Mergers & Acquisitions in Medi

The course is an advanced Mergers & Acquisitions Seminar that focuses on current trends and recent developments in the media industry. The course will be divided into two parts. Each week during Part I will be devoted to the analysis of a different recent media transaction. The pedagogic framework is not structurally different from traditional M&A analysis. The overlay of mediaspecific commercial, strategic and regulatory issues will provide additional insight into a particularly dynamic segment of the economy. Each week will focus on a different transaction type (e.g., cash divesture, cash acquisition, stock merger etc.) different media industry sub-sector (e.g., cable, newspapers, broadcasting etc.) and different aspects of the analytical framework (e.g., financial analysis, corporate governance etc.) Part II will be devoted to group board presentations of hypothetical transactions. Groups must be formed and have their hypothetical transaction approved by the instructor by week 4 of the course. Course grades will be primarily based on the quality of written materials and presentations by the group. Each group member will receive the same grade on their project. 20% of the course grade will be on based on individual weekly homework assignments. Outside speakers/board members with first-hand knowledge of the industries and transactions considered will participate during both Part I and Part II of the course.

• T 2:20 p.m.-5:35 p.m.
• Instructor: Jonathan A Knee
  h-index: 5 Info
• 3 points

Psychology & Economics of Consumer Finan

Psyc & Econ Consumer Finc

We will use the tools of behavioral economics and psychology to better understand consumer financial decisions and the consumer finance industry. We will examine markets for borrowing (mortgages, credit cards, peer-to-peer lending, payday loans), saving (401(k)s, strategies to promote saving, optimal asset allocation), and insurance (including life, health, and longevity). We will emphasize both how people do and how people should make financial decisions, and the implications for financial services firms. The goal of the course is to not only understand consumer finance, but to emphasize how the lessons from psychology and economics can be used to improve business decisions, foster innovation, and enhance public policy.

• TWRFS 9 a.m.-5 p.m.
• 3 points

(PhD) Economic Theory III

• R 2:20 p.m.-5:35 p.m.
• Instructor: Andrea Prat
  Wikipedia h-index: 39 Info
• 1.5 points

(PhD) Economic Theory IV

• R 2:20 p.m.-5:35 p.m.
• Instructor: Andrea Prat
  Wikipedia h-index: 39 Info
• 1.5 points

International Macro-Finance

• W 2:10 p.m.-4 p.m.
• Instructor: Jesse Schreger
  h-index: 11 Info
• 3 points