Instructor permission required. Join the waitlist in Vergil to request registration.
This project-based course equips students with the tools of human-centered design to address real-world challenges in the social sector. Working in interdisciplinary teams, students act as “intrapreneurs,” designing solutions on behalf of nonprofit, government, and social enterprise clients. Through a structured 12-week innovation cycle, students move through four design phases:
Explore
(stakeholder research and mapping),
Reframe
(synthesis and insight development),
Generate
(ideation and concept creation), and
Prototype
(building and testing solutions).
Students develop key competencies in design thinking, project and client management, stakeholder interviewing, problem framing, prototyping, and storytelling. The course culminates in a final presentation and deliverables that include an implementation blueprint and pitch materials for client use.
Client organizations span sectors such as education, food systems, sustainability, and civic engagement. Class meetings include workshops, presentations, feedback sessions, and one-on-one team advising. Deliverables are team-based, and participation is evaluated through both class engagement and weekly reflections.
This course is designed for students seeking hands-on experience in social innovation and a creative, collaborative approach to systems-level change.
This course examines how national security and defense policy are developed and implemented in the U.S., focusing on political processes and institutional dynamics. Topics include military strategy, budgeting, force structure, acquisition, personnel policy, and the use of force. Students explore five key dimensions: partisan politics, Congress–Executive relations, civil-military relations, inter-service dynamics, and coordination across federal agencies. While grounded in U.S. policy, the course addresses global contexts and current debates, including defense reform, great-power competition, and the sustainability of the all-volunteer force. Readings span historical and contemporary sources.
IFEP Concentration Registration Priority.
This course examines the intersection of international politics and international economics. It covers an analysis of the historical background to and contemporary reality of the political economy of international trade, finance, monetary relations, foreign investment, and climate policy; problems of economic development; and globalization.
In Writing about War, seminar participants engage with a pressing matter of our age: how to evaluate facts and context and create compelling and precise narratives from the fog of war. This intensive writing seminar explores the special challenges of creating narrative and assessing truth claims in the context of violent conflict. In this course you will grow as a writer through extensive practice reporting, writing, revising, and editing your own work and that of your peers.
We will read accounts produced as journalism, policy analysis, advocacy, literature, and philosophy. We will discuss ongoing conflicts as well as historical cases, and grapple with questions of policy and ethics. Students will produce original reported narrative writing about conflict, which they may try to place for publication. Students should expect to write or revise an original piece most weeks of the semester.
This course cultivates useful skills for any writer, whether they plan to write about conflict as a journalist, advocate, aid worker, policy analyst, or other field. The instructor places a premium on critical thinking and clear writing; grades reflect participation, effort, clarity of thought, reporting initiative, and narrative craft.
This half-course examines the intersection of international trade and financial markets, exploring how global commerce both shapes and is shaped by macroeconomic policy, financial conditions, and firm-level strategic behavior. The course aims to bridge two traditionally distinct analytical lenses — international macroeconomics and micro-level trade and corporate dynamics — to provide students with an integrated understanding of how trade policies, capital flows, and multinational production networks interact in a financially interconnected world.
The first half of the course (Macro) focuses on the policy dimensions of international trade. It investigates how trade policies influence growth, inflation, and monetary policy in advanced economies, and how these same dynamics play out in emerging markets with more volatile macro-financial linkages. Students will analyze theoretical frameworks for tariffs and trade balances alongside empirical evidence from historical and contemporary policy shifts. Case studies will explore the commodity–currency nexus, crisis transmission through trade channels, and how financial markets price trade risk.
The second half (Micro) transitions to the firm and industry level, examining global supply chains and multinational corporations. The discussions will explore how geopolitical tensions, industrial policies, and technological change are reshaping global production networks. Students will assess the evolving role of multinational enterprises as both transmitters and mitigators of global shocks. Case studies will focus on critical materials and the technology sector, highlighting the strategic and policy implications of concentrated global value chains.
This course explores the strategies, tools, and policy environments required to scale ventures beyond the startup phase, particularly in regions outside traditional tech hubs such as Silicon Valley. Students examine the entrepreneurial journey from early traction to sustained growth, considering both bottom-up approaches focused on talent, capital, and customer acquisition, and top-down approaches focused on policy and ecosystem design. Emphasis is placed on high-impact sectors including AI, blockchain, fintech, and edtech, as well as opportunities in underserved markets. Through guest lectures, written assignments, and a team-based final project, students gain practical insight into entrepreneurship, venture capital, and leadership strategies that support scale. The course is designed for students interested in launching ventures, supporting innovation ecosystems, or shaping policies that foster economic growth.
Given the dramatic changes in US Trade Policy, businesses and governments are having to navigate a patchwork of “managed trade” agreements and myriad tariff rates and non-tariff barriers. This short course will equip students with a solid grasp of the fundamentals of the current world trading system – both the “multilateral” system centered on the WTO and still practiced among most countries, as well as the US-centered multiplex system created by the Trump II Administration. The impact on businesses and governments will be examined through a series of interactive classes, business case studies, and executive guest speakers. The course will also explore “Stakeholder Engagement” techniques used by Multinational Corporations seeking to secure competitive advantage in this new environment.
This course examines how public, private, and nonprofit organizations attempt to address complex social problems through programs, partnerships, and philanthropic investment. The first half explores historical and contemporary interventions across sectors, with attention to trade-offs, incentives, and consequences. Through case studies and critical readings, students analyze how trust, governance, and accountability shape outcomes. The second half focuses on the practice of designing and scaling social impact programs, emphasizing theory of change, evaluation, and strategic alignment. Assignments include strategy and fundraising memos, a final impact plan, and a presentation. This seminar equips students with analytical, writing, and communication skills relevant to leadership roles in the social impact field.
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.
This course examines the intersection of human rights and economic inequality, exploring how political and economic governance influence access to rights and justice. Students will assess how human rights principles are integrated into economic policy frameworks, including trade, labor, development, and environmental regulation, and how these frameworks shape both public accountability and corporate responsibility.
Through case studies and policy analysis, the course introduces practical tools for advancing human rights in multilateral institutions, national governments, and private-sector operations. Topics include the role of grievance mechanisms tied to trade agreements and development finance, global supply chains, labor standards, and the impact of environmental policy on marginalized populations. Students will analyze pathways to embed human rights criteria into decision-making, and consider the limits and opportunities of current governance structures in addressing inequality.
This advanced seminar critically examines the evolving challenges, limitations, and potential of human rights and humanitarianism as frameworks for justice and global governance. Centering human rights discourse, the course invites students to examine foundational concepts such as universality, accountability, sovereignty, and identity, while addressing complex topics and challenging cases. Through case studies, normative debates, and applied advocacy tools, students explore the responsibilities of state and non-state actors, the contested definition of the “human” in rights claims, and strategies for persuasion, enforcement, and reform in both policy and practice. Course themes include: The political limits and promise of human rights in global and national contexts; Accountability gaps across governments, corporations, and armed groups; The status of refugees, displaced persons, and marginalized groups; Humanitarian dilemmas, transitional justice, and foreign policy advocacy; The rise and fall of doctrines such as Responsibility to Protect (R2P); and Pragmatism, realism, and human rights under states of exception.
How does, and how should, the United States manage the relationship between elected leadership, the military, and society? This course will examine the history and current state of American civil-military relations, helping students place current challenges and debates within historical and theoretical context while also providing a better understanding of the relationship between elected political leadership, the military, and the people they both serve. This course places a special focus on the unique challenges the US faces in maintaining healthy civil-military relations in an era of heightened partisan polarization and political change.
This applied course provides students with foundational skills to analyze and interpret publicly available datasets for public policy decision-making. Emphasizing hands-on learning, the course covers data sourcing, cleaning, research design, statistical analysis, and data visualization using Stata. Students will explore real-world challenges across topics such as poverty, education, housing, and public health, culminating in a data-based policy memo developed through collaborative group work.
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.
This course explores the financing structures that underpin the development and transformation of global energy and power markets. Students will examine how asset-based, project, and tax-driven financing mechanisms have evolved to meet the growing demands for conventional and clean energy, and how these tools can be leveraged to support the transition to a low-carbon economy. Through case studies and lectures, the course introduces the financial, regulatory, and policy frameworks that shape energy markets, with an emphasis on U.S. practices and instruments. Topics include reserve-based lending in oil and gas, project financing for power generation, Master Limited Partnerships in midstream infrastructure, and renewable energy finance strategies. Special focus is placed on aligning commercial viability with sustainable development objectives, addressing greenhouse gas emissions, and ensuring affordable access to energy. Students will develop applied skills in evaluating financing approaches, assessing project risks, and reconciling financial structures with physical energy system requirements.
This course examines modern policing in the United States through historical, legal, racial, and political lenses. Students will explore the evolution of policing practices and their implications for civil rights, public trust, and public safety. Key topics include police recruitment and training, disciplinary procedures, technology in law enforcement, use-of-force guidelines, and the impact of police unions. The course will evaluate the role of social movements, such as Black Lives Matter, in advancing reform and will analyze policy recommendations implemented in cities across the U.S. and abroad. Students will engage with current scholarship, government reports, and case studies to assess efforts to reimagine public safety, address systemic racism, and improve police-community relations. The course culminates in a policy-oriented final paper proposing actionable reform strategies.
This seven-week course considers the impact of housing policy on communities and neighborhoods across the United States. We will discuss how local, state, and federal decisions about what we build, where we build, who we build for, and how we pay for it has created the cities we live in today. The course will draw examples from small to large American cities and urban areas to examine the social, political, and economic forces that have shaped housing policy in the U.S. Given the time constraints, the course will focus on the American landscape; however, the material can be viewed through the prism of how government decisions impact the urban environment across the globe. Students are encouraged to share comparative perspectives of their own home cities and experiences in class discussions.
This course provides a rigorous introduction to renewable energy project finance modeling, focusing on the concepts, structures, and financial mechanisms that underpin investment in renewable energy projects such as wind and solar. Through lectures, demonstrations, and guided analysis of actual project documents and contracts, students will develop a comprehensive understanding of the key drivers of renewable energy economics and financing.
Students will examine debt structuring, cash flow analysis, revenue modeling, risk assessment, tax incentives, and the impact of policies such as the Inflation Reduction Act. The course emphasizes the development of best practices in financial modeling and the critical evaluation of project structures, with particular attention to the challenges and considerations unique to renewable energy assets.
Participants will learn to analyze project agreements, assess project risks, build robust financial models, and evaluate project viability from the perspective of developers, lenders, and investors. The curriculum integrates lectures on technical and contractual fundamentals, discussion of policy implications, and instruction on modeling techniques, culminating in the creation of a detailed project finance model.
Defense policy involves some of the highest stakes in government, often concerning life-or-death decisions. It is also a major employer, with U.S. government agencies, think tanks, and contractors relying on formal analysis to guide decisions ranging from equipment purchases to national military strategy. A large, trained workforce produces these studies, while others must critically assess their findings. Although most robust in the U.S., similar analytic work exists globally.
This intellectually demanding field requires strong methods and integrity. Poorly designed studies can distort decision-making, while sound analysis improves it. This course prepares students to work effectively as entry-level defense analysts or as informed consumers of analysis. Emphasis is placed on research design, which is often the key determinant of a study’s success. Through methodological training and critique of exemplar analyses, students will build the skills and intellectual foundations to advance quickly in the field and help shape its future. This is not a course in defense policy topics, but in the design and evaluation of defense analysis.
Fall 2026 Course Dates: September 18 & October 2, 2026.
Spring 2027 Course Dates: January 29 & February 12.
This simulation course is a short two-day course designed to enable participating students to weigh and apply human rights principles, best practices, and standards to simulated human rights emergencies. The simulation exercise challenges student participants with issues facing human rights practitioners when responding to human rights crises and provides practice operating within the human rights system and devising innovative solutions to complex challenges. Participants will evaluate data reports, assess relevant human rights tools and mechanisms, and propose interventions. The simulation will include a day of simultaneous exercises, followed by another day of debriefing, evaluation, and identification of key challenges and lessons.
The course has two broad objectives: 1) to explore how economics can be used to understand various facets of development and 2) to provide tools and skills useful in policy work. In the course, we will describe the basic facts surrounding the development process and use economic theory to make sense of these facts and to identify gaps in our understanding. We will also learn about the tools that development economists use to fill in those gaps. These will include analyzing real-world data and thinking in terms of causality and its relevance for policy. Specific modules/topics in the class include: 1) What is Development, 2) Distribution of Income and Human Resources, 3) Randomized Controlled Trials, 4) Growth Models, 5) Trade and Development, 6) Sustainability Topics
This course examines three decades of international peacemaking efforts to assess what has been learned, and what has been unlearned, through major conflicts. Drawing on the instructor’s experience leading UN peacekeeping operations and conflict resolution initiatives, the course explores case studies from various regions, including Rwanda, Bosnia, Libya, Syria, Colombia, Ukraine, and Israel-Palestine. Students will analyze how geopolitical shifts, institutional capacities, and strategic choices have influenced outcomes. The course pays particular attention to the United Nations' involvement, the evolution of doctrines such as the Responsibility to Protect, and the role of external actors.
IFEP Concentration Registration Priority. Prerequisite: SIPA IA6200 Accounting.
(Note: Based on their performance in SIPA IA6260 Accounting Fundamentals, IA6260 students may be allowed to register if space remains.)
This course provides an introduction to corporate finance, focusing on how firms assess funding needs, evaluate investment opportunities, and select financing strategies. The course equips future policymakers and practitioners with core analytical tools in financial decision-making. Topics include working capital management, cost of capital, security valuation, capital structure, and free cash flow analysis. Emphasis is placed on applying financial concepts to real-world situations through case studies, quantitative problem sets, and hands-on modeling. Students will gain exposure to Excel-based analysis and decision-making under uncertainty. Prior coursework in accounting is required, and fluency in Excel is essential.
This course examines the real-world application of corporate finance across both developed and emerging markets. Drawing on the instructor’s 30 years of experience in global equity research, the course examines how investors value companies, how firms build and allocate capital, and how financial markets respond to corporate behavior and economic conditions.
Topics include capital structure, valuation techniques, investor activism, corporate governance, ESG considerations, asset bubbles, fraud detection, and private equity. Special sessions feature guest speakers from Wall Street and case-based discussions grounded in current market trends.
Students will gain practical exposure to forecasting, strategic financial analysis, and investor behavior through interactive lectures and assignments. Readings include both foundational finance texts and real-world case studies.
Pre-reqs
: At least one prior finance course (IFEP IA7301 Corporate Finance is strongly recommended; IFEP IA7022 or IFEP IA7045 acceptable). A background in accounting (e.g., SIPA IA6200) and working knowledge of Excel are preferred.
This is an experiential course designed to introduce students to impact investing and provide them with the skills used by impact investors every day. Students will work on the key "products" required in an impact investment transaction including: sourcing a possible impact investment; pitching a potential investment; writing an investment memo with a full impact analysis; and creating and negotiating a term sheet for a possible impact investment. Through case studies, hands-on assignments, and team-based presentations, students will learn how to evaluate and structure impact investments. The course emphasizes applied tools used in the field and offers insight into pathways for careers in impact finance.
The course provides students with a theoretical and empirical overview of the policies designed to address poverty and inequality in the developing world, as well as the political context in which these policies are chosen and implemented, with a particular (though not exclusive) focus on the Brazilian experience. The first meetings focus on normative perspectives and the general political implications of poverty and inequality. We then briefly examine differences in social policies between developed and developing countries and proceed to discuss various practical approaches to the issue. By the end of the course, students should have enhanced their understanding of the theoretical underpinnings of poverty- and inequality-reducing policies, as well as how politics shapes their implementation.
This course is designed to be an applications oriented course and will draw heavily upon real world change of control case studies. The course builds on the prior courses in corporate finance. The course will not introduce significantly new finance principles or analytical techniques other than those to which the student has been exposed to previously in the prerequisite introductory courses in finance at Columbia. The course will seek to apply basic finance principles and analytical techniques to actual problems likely to be encountered by senior management of major corporations or those who are the advisors to such management in the context of an M&A transaction. At the conclusion of the course, the student will have gained an appreciation for the role M&A plays on today's corporate landscape and have formed an opinion as to whether or not an M&A transaction makes sense" for the firm. The student should expect at the conclusion of this course to have gained a level of competency in M&A commensurate with an entry-level investment banking associate in M&A. Whether or not the student "practices" M&A, the course will afford the student with an insider's look into what is an undeniable major force on today's corporate landscape. Accordingly, students who are interested in investment banking, consulting, equity research, corporate development, corporate lending, strategic planning, private equity, leveraged finance, or proprietary trading many wish to consider this course."
This course examines how the current racial and social justice awakening, at the intersection of race and gender—is reshaping American politics and policy. Through case studies and guest speakers, students will examine the impact of movements such as # MeToo and Black Lives Matter on voting rights, governance, and philanthropy. The course asks whether the United States has fulfilled its promise of representative government and considers how policymakers might address persistent systemic barriers to political power based on race and gender.
Students will analyze structural inequality and its effects across institutions, policies, and public discourse. Emphasis will be placed on actionable strategies to advance equity within inherently inequitable systems. The course is designed to equip emerging policy professionals with the tools to foster more inclusive leadership and effect lasting change.
Pre-reqs: CEEN IA7200: Fundamentals of Environmental Economics and Policy,
or
CEEN IA7300: Energy Systems Fundamentals,
or
SUMA PS5155: Energy Markets and Innovation. Instructor permission is also required for registration. Join the waitlist in Vergil to request registration.
Artificial intelligence (AI) is a hot topic. More than 800 million people now use ChatGPT each week, trillions of dollars are being invested in data centers globally, and policymakers around the world are considering how best to respond to the growth in AI.
Meanwhile countries around the world are struggling to respond to climate change. Based on global average temperatures, July 22, 2024 was the warmest day ever recorded; 2024 was the warmest year ever recorded; and the 10 warmest years on record are the past 10 years. Yet despite encouraging developments, including the dramatic drop in the price of renewable energy in the past decade, global emissions of greenhouse gases continue to climb.
Can AI help reduce emissions of greenhouse gases? Will increased power demand for AI lead to greenhouse gas emission increases, outweighing any benefits? Can AI help with adaptation to climate change? Should policymakers encourage the use of AI to help fight climate change and discourage AI applications that may increase greenhouse gas emissions? If so, how?
This course will cover these questions. The course is an advanced seminar. After an initial class session covering core AI concepts, we will explore different ways AI could help reduce greenhouse gas emissions and adapt to climate change, as well as ways in which AI could lead to greenhouse gas emissions increases. We will explore barriers to the use of AI to respond to climate change, risks of using AI for that purpose, policy options for addressing these risks and barriers, and ways in which different stakeholders can work together in using AI tools to fight climate change.
Today’s leaders must confront increasingly complex challenges, from climate change to inequality, that demand innovative and collaborative approaches. This course introduces students to the Social Value Investing framework, a five-point management model developed at Columbia University to guide and evaluate cross-sector partnerships (CSPs). Drawing on decades of faculty research, students will examine how leaders across the public, private, nonprofit, and philanthropic sectors have built effective alliances to address critical social and environmental problems.
Through a mix of theory, case studies, and applied tools, students will gain practical insights into the formation, governance, and performance measurement of CSPs. Emphasis will be placed on organizational design, leadership practices, and techniques for managing impact across sectoral boundaries. Weekly sessions will include lectures, group exercises, short videos, case-based discussions, and applied impact measurement activities.
Note: Students who have taken
Public Management Innovation
with Professors Buffett and Eimicke are not eligible to enroll.
This course examines the evolution and future of electricity markets worldwide in the context of liberalization, decarbonization, and technological change. As clean energy costs decline and electrification accelerates, the power sector faces increasing pressure to deliver reliable, affordable, and low-emission electricity. The course provides an interdisciplinary perspective on the structure and operation of electricity markets, exploring regulated and competitive models across advanced and emerging economies. Students will analyze how policy frameworks, regulatory structures, and market incentives shape investment, pricing, and dispatch decisions.
Pre-requisites:
A calculus-based micro-economics course (SIPA IA6400) or equivalent. This is an advanced course in development economics, designed for SIPA students interested in rigorous, applied training. Coursework includes extensive empirical exercises, requiring programming in Stata. The treatment of theoretical models presumes knowledge of calculus. Topics include: the economics of growth; the relationship between growth and poverty and inequality; rural-urban migration; the interaction between agrarian institutions in land, labor, credit, and insurance markets; prisoners’ dilemmas and the environment; and policy debates around development strategies. Recurrent questions include: Are markets efficient, and if not, in what specific ways are they inefficient? What are the forces driving development and underdevelopment? What are the causal links between poverty and inequality and economic performance? What is the role of interventions by states or civil organizations in bringing about development? The course will integrate theoretical ideas and empirical analysis, with an emphasis on questions relevant for economic policy.
Pre-requisites:
A calculus-based micro-economics course (SIPA IA6400) or equivalent. This is an advanced course in development economics, designed for SIPA students interested in rigorous, applied training. Coursework includes extensive empirical exercises, requiring programming in Stata. The treatment of theoretical models presumes knowledge of calculus. Topics include: the economics of growth; the relationship between growth and poverty and inequality; rural-urban migration; the interaction between agrarian institutions in land, labor, credit, and insurance markets; prisoners’ dilemmas and the environment; and policy debates around development strategies. Recurrent questions include: Are markets efficient, and if not, in what specific ways are they inefficient? What are the forces driving development and underdevelopment? What are the causal links between poverty and inequality and economic performance? What is the role of interventions by states or civil organizations in bringing about development? The course will integrate theoretical ideas and empirical analysis, with an emphasis on questions relevant for economic policy.
Pre-requisites:
A calculus-based micro-economics course (SIPA IA6400) or equivalent. This is an advanced course in development economics, designed for SIPA students interested in rigorous, applied training. Coursework includes extensive empirical exercises, requiring programming in Stata. The treatment of theoretical models presumes knowledge of calculus. Topics include: the economics of growth; the relationship between growth and poverty and inequality; rural-urban migration; the interaction between agrarian institutions in land, labor, credit, and insurance markets; prisoners’ dilemmas and the environment; and policy debates around development strategies. Recurrent questions include: Are markets efficient, and if not, in what specific ways are they inefficient? What are the forces driving development and underdevelopment? What are the causal links between poverty and inequality and economic performance? What is the role of interventions by states or civil organizations in bringing about development? The course will integrate theoretical ideas and empirical analysis, with an emphasis on questions relevant for economic policy.
Gender has important implications for international security policy. Gender bias influences policy choices. It can lead to misunderstandings of military capability, especially for nonstate armed groups whose members include women combatants and supporters. It can aggravate the causes of war and lead to increased incidence of internal and interstate violence in settings where women are systematically mistreated or where sex imbalances create instability. Gender shapes how we are impacted by wars and disasters, as inequalities present in daily life become exacerbated in times of crisis. Gender bias can discourage talented women from pursuing careers in security policy, denying states access to the talent and abilities in half their populations. The intersection between gender and international security has been codified internationally since at least 2000 with the passage of United Nations Security Council Resolution 1325 on Women, Peace and Security (WPS). Other international security organizations, including NATO, have created leadership positions and devised plans related to WPS. Finally, the United States passed the Women, Peace, and Security Act in 2017 and created associated policies focused on integrating gender into the work of the U.S. Department of State and the U.S. Department of Defense.
The course will be a sustained exploration of the ways in which gender identities and associated identity power dynamics influence international conflict, internal conflict, and international security policy. Students will gain this knowledge through specific examples and case studies and will learn how to conduct their own gender analyses of situations and environments. During the semester, students will practice their gender analysis skills through research, writing, and presentations related to gender and security. The course will be a discussion-based seminar enabling students to work through ideas and concepts collaboratively.
To begin the exploration of the topic, the class will work to craft definitions of international security and gender and discuss why these concepts can be challenging to define or understand. Subsequent classes will build upon these definitions and discuss how gender intersects with other identity factors. The course will focus on the ways in which security institutions themselves are gendered and how to create gender responsive policies. After examining the gender dynamics of security institutions, students will examine gendered strategies in conflict and in state responses
This course provides an applied introduction to cost-benefit analysis (CBA) as a tool for evaluating public policies. Students will learn how to interpret and produce CBAs through lectures, problem sets, and real-world case studies focused on environmental, financial, agricultural, and transportation policies. Emphasis is placed on CBAs conducted by government agencies, including critical review of regulatory analyses and formulation of public comments.
Through individual and group assignments, students will gain hands-on experience constructing spreadsheet models, estimating impacts, applying discounting techniques, and performing sensitivity analyses. The course culminates in a student-led cost-benefit analysis project and the submission of formal comments on a government regulation.
Prerequisites:
SIPA IA6350 or SIPA IA6400 (Microeconomic Analysis) or equivalent. Familiarity with Excel is expected.
This course explores the opportunities and challenges presented by Europe’s efforts to lead the global transition to net-zero greenhouse gas energy systems. Centered on the European Union and its member states, the course also considers key geopolitical developments shaping the region’s energy future, including the war in Ukraine, transatlantic relations, and trade tensions with China.
Students will examine how climate goals intersect with energy security, affordability, and political feasibility. The course covers policy design, institutional dynamics, and market responses across power generation, transportation, and industrial energy systems. Topics include energy storage, electrification, decarbonization of hard-to-abate sectors, and the integration of renewables into power grids.
Through case studies and discussion, students will assess how EU energy and climate policies translate into real-economy investment and innovation. The course emphasizes critical engagement with required readings, active participation, and an understanding of the political and economic factors that shape Europe's transition agenda.
This intensive seven-week course is recommended for students already familiar with energy transition issues.
This course examines the pathways, technologies, and policies for transitioning energy systems from fossil fuels to low-carbon alternatives. Energy systems underpin modern economies and human well-being but remain the primary driver of climate change. The course introduces the scientific, economic, and political foundations of energy decarbonization and surveys the barriers to reducing emissions across major sectors, including power, transportation, buildings, and industry.
Students will engage with case studies, debates, and guest lectures to explore topics such as carbon pricing, innovation policy, equity considerations, and decarbonization in emerging economies. The course integrates perspectives from international climate negotiations and country-specific approaches, with a focus on U.S. policy design and implementation.
Spring 2027 Course Dates: Feb. 19-20, Feb. 26-27, March 5-6.
The aspirations outlined in the 2030 Agenda for Sustainable Development are in jeopardy as the world faces cascading and interrelated global crises and conflicts. It has become increasingly apparent that traditional funding modalities are falling tragically short to meet the financing requirements in addressing the SDGs - currently estimated to be around US$4.2 trillion per year. Hence, there is an urgent need to leverage alternative and innovative sources for financing development initiatives.
This course will explore the intersection of development finance, strategy, and policy. It will examine the landscape of traditional development financing, provide an overview of the various innovative development financing mechanisms, and reflect on the process to design them. The course will be highly interactive, involving six classes taking place over three weekends. It will have leading experts as guest speakers, and practical activities including an individual opinion piece, a group project and presentation, and a simulation exercise on partnership building.The course objectives include: (1) examining tradition and innovative approaches to financing of development initiatives and their relevant advantages and disadvantages; (2) reflecting on the process of designing innovative financing mechanisms and (3) developing practical skills necessary such as, writing clearly and persuasively for different audiences, developing proposals for innovative financing, and building partnerships with diverse stakeholders.
While the professors background is investing, this course is to a great extent a study of the elements that make a business great. As a result this class provides a sound intellectual framework to think about business in general, and as such it is equally appropriate for students who will work for a great business, build a great business, or invest.COURSE DETAILS: Value Investing is simply the purchase of any asset at a price that is significantly less than its true value. To learn how to do that when investing in common stocks, Warren Buffet has said investment students need to study two things: How to value a business. How to think about market prices. Through practical work as business analysts, the students in this class will primarily learn and intensely practice the skills and framework necessary to understand (and therefore value) a business.The professor has historically found the most value by investing in great (or future great) businesses. As a result, A SIGNIFICANT part of the course will be spent on: Detailed study of what makes a great business, and how to identify/build great (or future great) businesses Realization that to accomplish anything great", it is enormously helpful to identify, understand and align yourself with certain "truths" (For example the necessity of a broad understanding of people, group dynamics, the importance of independent thinking, basic probability, basic finance and accounting, EVA, the implications of proper focus, etc., etc.)."
The objective of this course is to learn and apply practical approaches to leveraging business innovation to spur socially and environmentally sustainable development, based on an understanding of the role of enterprises—especially small and growing businesses (SBGs)—in emerging markets and developing economies (EMDEs). Students will learn—from the course professors, as well as a group of guest lecturers specialized in a range of economic sectors, social or environmental priorities, and types of client—about the leading approaches to enterprise development and their foundations in systems thinking, political science, innovation theory, complexity science, and institutional, ecological, and business economics. Over the years, enterprise development has grown from implementing organizations directly providing services to businesses to the use of more systems-aware, facilitative approaches that include work with larger private sector companies, communities, local governments, and civil-society, and use tactics like business incubators and blended finance in ways that break away from a traditional grant-led donor paradigm and align commercial incentives with social and environmental priorities.
The ten-session course will begin with understanding market systems and their context in the surrounding socio-ecological system, then cover the financial systems, business enabling environment, and ‘knowledge’ systems of data and decision-making that make healthy market systems thrive. Students will learn fundamental market systems development concepts like facilitation and complexity-aware programming as well as concrete skills like market systems analysis, public-private partnership design, and incubator–accelerator tactics. Students will complete a semester-long project—including mid-term feedback from a simulated client—in market systems analysis and intervention design oriented to one of five types of client: traditional bilateral or multilateral institutions; impact investors; private philanthropy; multinational companies; and the governments of developing countries. Interventions will harness business growth to accelerate equitable economic development that achieves both social and environmental outcomes. A group of active professionals in the field will provide guidance on the semester-long projects to help demystify ‘development consulting’ and prepare students with the skills and mindsets to enter a rapidly evolving field. Fol
This course examines the uses and misuses of historical analysis in policymaking and strategic thinking. Although leaders often invoke historical analogies, they tend to rely on a limited set of familiar episodes. Students will explore the value and limitations of using history to inform decisions about present and future challenges. The course introduces key tools of historical reasoning, including concepts such as continuity and change, contingency, human agency, and structural constraint. Students will also consider the risks of overreliance on analogy or using history to support predetermined conclusions. The goal is to deepen understanding of frequently cited historical examples while encouraging more original and critical approaches to thinking about the future.
This course provides an in-depth examination of the foreign exchange (FX) market—the largest and most liquid financial market in the world. Students will explore the structure of the FX market, key market participants, and trading conventions. Through a combination of theory, practical tools, and analysis of current market developments, the course offers insights into how currencies are traded, valued, and influenced by macroeconomic policy and geopolitical trends.
Topics include currency movements and valuation, FX market structure, trading practices, U.S. dollar dominance, FX intervention by central banks, and reserve management strategies. Guest speakers from both the public and private sectors will provide professional perspectives, and students will engage in topical discussions linking theory to real-world events.
This hands-on, skills-based course trains students to plan, manage, and execute the key elements of a modern American political campaign. Students learn the fundamentals of campaign management, including research, targeting, message development, fundraising, media strategy, digital engagement, crisis communications, and voter outreach. Through simulations and guest lectures by campaign professionals, students gain real-world insights and practical competencies in managing electoral campaigns at all levels.
A central component of the course is a team-based mock campaign project, in which each student assumes a specific campaign role, such as campaign manager, field director, press secretary, or pollster—and contributes to the final campaign plan. Teams respond to real-time political developments and present their final plans to a panel of experts.
By semester’s end, students will have developed a professional-grade campaign plan and acquired the tools to enter the field of political campaigning with confidence and applied knowledge.
This course examines the United Nations Development System (UNDS) as the world’s most prominent multilateral development actor. Students will explore the governance and funding structures of over 35 UN agencies, programs, and funds, and analyze how they collaborate to achieve country-level results. Topics include joint responses to global crises, UNDS reforms, SDG financing, and partnerships with governments, donors, civil society, and the private sector. Drawing on real-world case studies and practitioner insights, the course emphasizes practical competencies in multilateral development cooperation.
This course introduces students to the theory and practice of risk management in crisis and conflict settings, with a focus on the United Nations’ efforts to deliver on mandates in complex environments. Drawing on UN doctrine and international standards such as ISO 31000, the course emphasizes practical skills and real-world applications across the UN’s peace and security, development, human rights, and humanitarian pillars. Students will engage with case studies, guest speakers, and group simulations, culminating in the development of a comprehensive risk assessment for a selected UN mandate. Topics include security risk management, access and protection, strategic communications, human rights, program and partner risks, political engagement, civil affairs, DDR, and mission transitions.
This course will introduce students to manifestations of gender-based violence around the world—including intimate partner violence, sexual assault, child marriage and forced genital mutilation, femicide and “honor killings,” human trafficking, conflict-related sexual violence, and technology-facilitated gender-based violence. The course will also examine the legal and policy frameworks governing these manifestations at the international, regional, and national levels—including global treaties, national laws and action plans, and programmatic support for survivors—and evaluate research on how and why ending gender-based violence globally advances prosperity and stability.
Oceans are critical to life on Earth. They supply more than half of the oxygen we breathe, regulate our climate, and connect peoples and continents.
The class will provide an overview of the most contentious and vexing issues and challenges regarding the ocean that are facing policy makers in the U.S. and across the globe today, and will examine their implications for global security and sustainable development of ocean resources.
The class will discuss policy, international institutions, governance models, scientific and economic issues, and potential solutions.
This course surveys the distinctive character of Asian energy security requirements, how they are changing over time, what political-economic forces are driving their transformation and what those requirements imply for broader economic and political-military relationships between Asia and the world. It gives specials attention to Asia’s energy dependence on the Middle East and the extent to which Russia and alternative sources, including nuclear power, provide a feasible and acceptable alternative. Cross-national comparisons among the energy security policies of China, India, Japan, Korea, and Western paradigms are used to explore distinctive features of Asian approaches to energy security.
This course examines the political, legal, and policy landscape of reproductive rights and health in the United States following the Supreme Court's 2022 decision in
Dobbs v. Jackson Women’s Health Organization
, which overturned
Roe v. Wade
. Students will analyze the immediate and long-term implications of this decision on federal and state policy, access to care, constitutional law, and U.S. politics. Topics include the use of executive action, litigation strategies, the role of public opinion, religious arguments, medication abortion, and the global reverberations of
Dobbs
. The course also provides a firsthand look at federal policymaking and features guest speakers from government and advocacy.
Improving women’s economic security and boosting women’s labor force participation is not only critical for advancing gender equality but also for driving economic growth. This class will introduce students to the main factors contributing to women’s economic insecurity in the United States and around the world, including legal barriers, insufficient care infrastructure, lack of access to good-paying jobs, and discrimination and harassment, including sexual harassment, in the workforce. The course will also explore solutions – domestic and global laws, legislative proposals, and policies – to address these barriers and to advance progress on women’s economic security, along with the current debates on these policy interventions. Students will also learn about the role that social norms play in women’s ability to participate fully in the economy.
This course examines how public policy can support the advancement of women in leadership roles across sectors. Despite increased global attention, women continue to be underrepresented in senior leadership positions, and progress toward achieving gender equity remains slow. Through a combination of readings, class discussions, guest speakers, and applied policy analysis, students will explore the structural and cultural barriers to women’s leadership and design policy solutions to address them. Topics include gender norms, discrimination and harassment, workplace equity, and mandates such as Title IX and corporate board quotas.
NOTE: YOU SHOULD NOT ENROLL IN THIS COURSE IF YOU HAVE TAKEN OR PLAN ON TAKING REAL ESTATE FINANCE (B7331)
The goal of this course is to make you knowledgeable and conversant about the principles of real
estate, with many changes as the world has adjusted to the new circumstances of COVID-19. As both a physical asset and an investment asset with a defined location in space, real estate is strikingly different from other asset classes. Real estate forms part of the alternative investment asset class and institutional investors invest a substantial part of their portfolio in real estate. We will look at the investors in real estate and the investment management firms and how they are investing
internationally. We will give an overview of investing in all major commercial property types: office,
logistics, retail, hotels, and residential, niche sectors like senior housing and student housing, and the purchase of a home and consider how these are changing to a quickly evolving world. The goal is to give an overview of the international real estate market and provide you with the tool set to identify investment opportunities globally, certainly for investing but also to find a place to live and figure out how to work.
Pre-req: Microeconomics.
This course is an introduction to the economics of energy markets. We will study the main sources of inefficiencies in energy markets—market power and externalities—and their implications for policymaking. We will cover, for example, how oil and natural gas prices are determined globally, deregulation and market power in electricity markets, and policy responses such as carbon permit trading.
We will also discuss recent challenges faced by policymakers in energy markets, such as the incorporation of renewables, transmission, transport, and the broader energy transition to net zero.
Students will work in groups to deliver a project and presentation focusing on a real-world energy policy question of their choice. The objective of the group project is to provide hands-on experience in energy policy analysis using the main economic concepts discussed in the class.
Pre-req: SIPA IA6501 - Quant II.
The goal of this course is to provide students with a basic knowledge of how to perform some more advanced statistical methods useful in answering policy questions using observational or experimental data. It will also allow them to more critically review research published that claims to answer causal policy questions. The primary focus is on the challenge of answering causal questions that take the form “Did A cause B?” using data that do not conform to a perfectly controlled randomized study. Examples from real policy studies and quantitative program evaluations will be used throughout the course to illustrate key ideas and methods.
First, we will explore how best to design a study to answer causal questions given the logistical and ethical constraints that exist. We will consider both experimental and quasi-experimental (observational studies) research designs, and then discuss several approaches to drawing causal inferences from observational studies including propensity score matching, interrupted time series designs, instrumental variables, difference in differences, fixed effects models, and regression discontinuity designs.
As this course will focus on quantitative methods, a strong understanding of multivariate regression analysis is a prerequisite for the material covered. Students must have taken two semesters of statistics (IA6500 & IA6501 or the equivalent) and have a good working knowledge of STATA.
This course explores the economics and politics of sovereign debt, focusing on the sustainability of public borrowing and the power dynamics shaping debt resolution processes. Students will analyze how debt decisions are made under uncertainty and examine the implications for domestic economies and the global financial system. The course is divided into two parts: the first covers the structure of sovereign debt, market incentives, and macroeconomic linkages; the second examines sovereign debt crises, including restructuring processes, negotiation challenges, and the roles of key institutions such as the IMF. Case studies—including Argentina, Greece, Puerto Rico, and ongoing restructurings in developing economies—provide practical insight. The course is designed for students interested in policymaking, international finance, or advanced academic work in this field.
The purpose of this half-semester course is to familiarize students with how the Internet and cybersecurity works; to provide a foundation of knowledge for later courses; and to familiarize students with the devices, protocols, and functions of computers, the Internet, industrial control systems, and cybersecurity. This course is not intended to be a computer science course, but to provide the students with the lexicon of cyberspace and the understanding of how hardware, software, and networks fit together to create the Internet experience. We will also illuminate some essential and current cybersecurity policy topics, including privacy and risks of emerging technology.
It is a broader course meant to complement Cyber Risks and Vulnerabilities and other coursework throughout SIPA.
This course explores the strategic, policy, and institutional dimensions of cyber conflict. It focuses on the national security implications of cyber threats and responses, rather than the technical mechanics of cyberspace. Students will examine how cyber operations unfold at both tactical and strategic levels, assess the comparison of cyber power to other domains of conflict, and trace the development of U.S. cyber policy and organizational structures. There are no prerequisites, though students without prior exposure to cybersecurity are encouraged to complete the assigned foundational readings before the first class or take a 1.5-credit introductory course.
This course examines the evolving role of cyberspace in modern warfare. Since the emergence of the Internet, scholars and policymakers have debated whether cyber capabilities represent a fundamental shift in the nature of conflict or a complement to conventional military power. Students will engage key conceptual debates about cyber conflict, assess how major powers including the United States, Israel, Russia, and China develop and employ cyber capabilities, and consider whether cyber operations should be viewed as a distinct strategic domain. The course also explores the future of cyber warfare, including the role of non-state actors and the integration of emerging technologies such as artificial intelligence and space-based systems. Through case studies and policy analysis, students will develop a framework for understanding how cyber strategy is shaped and executed in theory and practice.
The purpose of this course is to familiarize SIPA students with the function of the internet while focusing on the flaws and vulnerabilities that can be exploited in attacks or impact user privacy. This course will approach each session in the following manner: discussion of recent cyber events, discussion topic(s) to be covered, and the ramifications when used in the real world.
This course is intended to build on the Basics of Cybersecurity with a tighter focus on specific vulnerabilities and information transmission and how these can be exploited by hackers, criminals, spies, militaries, or business interests.
This course is intended to be an introduction to cyber risk and vulnerabilities and is thus suitable for complete newcomers to the area. It is a big field, with a lot to cover; however, this should get students familiar with all of the basics. The class is divided into weekly topics; the first five iteratively build on each other, and the others either addressing recent technologies or hosting relevant guest speakers.
Many cyber jobs are opening up with companies that need international affairs analysts who, while not cybersecurity experts, understand the topic well enough to write policy recommendations or intelligence briefs. Even if you don’t intend your career to focus on cyber issues, having some exposure will deepen your understanding of the dynamics of many other international, privacy, and public policy issues.
This course introduces cybersecurity as a business risk, emphasizing its impact beyond IT and into areas such as regulation, governance, finance, and reputation. Students explore core concepts in cybersecurity, risk management frameworks, and the evolving threat landscape. The course examines how leading organizations assess, quantify, and address cyber risk through strategies such as risk mitigation, transfer, and resilience. Topics include incident response, supply chain vulnerabilities, regulatory compliance, critical infrastructure, and cyber conflict. Through policy memos and a group-designed risk taxonomy, students build practical tools for evaluating and managing cyber threats in public, private, and nonprofit sectors.
This course develops the skills necessary to prepare, analyze, and present data for policy analysis and program evaluation using R. Building on the foundations from Quant I and II—probability, statistics, regression analysis, and causal inference—this course emphasizes the practical application of microeconometric methods to real-world policy questions. (Note: macroeconomic topics and forecasting methods are not covered.)
The central objective is to train students to be effective analysts and policy researchers. Key questions include: Given the available data, what analysis best informs the policy question? How should we design research, prepare data, and implement statistical methods using R? How can we assess causal effects of policies rather than mere correlations? What ethical considerations arise when working with data on marginalized populations?
Students will learn through hands-on analysis of datasets tied to a range of policy issues, including: caste-based expenditure gaps in India, racial disparities in NYPD fare evasion enforcement, water shutoffs in Detroit, Village Fund grants in Indonesia, public health insurance and child mortality, and Stand Your Ground laws and gun violence. The course culminates in a student-led project on a policy topic of their choosing.