Prerequisites:
PHYS W4021-W4022-W4023
or the instructor's permission.
An introduction to the basic concepts of the Friedmann-Robertson-Walker universe: the thermal history from inflation through nucleosynthesis, recombination, reionization to today; constituents of the universe including dark matter and dark energy; distance scales; galaxy formation; large scale structure of the universe in its many manifestations: microwave background anisotropies, galaxy surveys, gravitational lensing, intergalactic medium, gravitational waves. Current topics of interest at the discretion of the instructor.
Prerequisite: department’s permission. Practical experience in the use of biochemical methods, with the aim of preparing the student for research.
This course seeks to prepare students for the interconnectedness of global organizations, industries, and internal and external legal environments. It will provide an introduction to business strategy with a focus on law and policy as a basic framework. Analysis of strategic decisions facing organizations will be rendered by looking outward to the environment and inward to the enterprise's resources, capabilities, and operating policies. The course will provide students with the fundamental knowledge of strategic and legal competitiveness for enterprises and will introduce students to a broad range of issues encountered by managers and business professionals.
Public Finance will introduce the nuances of the US municipal financing market from the perspective of issuers, investors and intermediaries. Students will learn about traditional fixed rate bond structures, but will also look at innovative financing techniques that have been implemented in recent years. In-depth discussions of interest rate markets and their impact on financing will be a key area of study. The growing pressures of public sector pensions are influencing how states and municipalities manage their budgets, and are under increased scrutiny by market participants; as such, pension accounting will be a focus area for the class as well. Financial distress and municipal bankruptcy will be examined through case studies of recent high profile issuers, such as the City of Detroit and the Commonwealth of Puerto Rico. The class is intended to prepare students to be versed in the fundamental concepts underpinning capital markets as they relate to municipalities and non-profit corporations, and to provide a knowledge base that can be utilized in practice in their careers.
Prerequisites: SIPA U4200 or SIPA U6400 or SIPA U6401
This course aims to provide an introduction to cost-benefit analysis and the economic evaluation of government or development programs, projects and policies. The course consists of two parts: theory/methodology in the first half of the semester and application of the learned concepts through an analysis of various case studies in the second half. Case studies will cover the full range of possible applications of CBA -from early education, social policy, health, urban planning, transportation and energy to environmental regulations. Case studies will cover both the US and developing country contexts. In the second half of the semester students will be expected to apply what they have learned by carrying out a cost-benefit analysis on a topic of their choice. The project is expected to include all components of a professional CBA - description of policy or program scenarios to be evaluated, compilation and monetization of the main costs and benefits, development of an Excel model including discounting and sensitivity analysis.
An exploration of the basis of trade, the gains from trade, and the impact of trade on growth, employment, and income through in-depth analysis and case studies, simulations and policy debates. Topics discussed include the theory of comparative advantage, "new" trade theory, the terms of trade, protectionism in theory and practice, customs unions, the impact of the internationalization of produc�tion on trade, and contemporary debates, such as the role of environmental and labor standards in trade agreements and the effect of trade on poverty.
Prerequisites: SIPA U6400 or SIPA U6401
The course has two dimensions: theory and policy. In the former, the fundamental models of international trade theory will be presented. Using these models we will try to understand why countries specialize and trade, what determines the pattern of trade (i.e., which country will export which good), and how trade affects relative prices, welfare, and income distribution within a country. The second part of the course deals with issues concerning trade policy. We will compare the effects of and rationale behind the usage of various policy instruments such as tariffs, subsidies, quotas, etc. The political economy of trade policy and trade policy in developing countries will also be covered. Additional topics may be included at a later stage if time permits.
Prerequisites: SIPA U6401
This is a "methods" course meant to provide students with the analytic tools necessary to think through "real life" international economic policy situations. The class is primarily meant for those interested in working at international financial institutions, the foreign-service, Wall Street, or the financial press. Lectures will, in part, be fairly rigorous though, if the student has taken first year economics, knows basic algebra, and (most importantly) can navigate graphs, he/she will be able to handle the material fairly easily. While theory will at times dominate, its policy relevance will be illustrated through i) l0-minute discussions at the beginning of every class on topical issues; ii) continuous references to recent economic/market episodes meant to illustrate the theoretical material; iii) reading short pieces of Wall Street research that cover timely market topics; and iv) the term paper that will be graded on how well theory and policy are integrated. In terms of topics, the first half of the semester will develop an analytic framework that thinks though the concept of the "exchange rate" in terms of its (short and long term) determinants as well as the interaction between the exchange rate and macro variables such as growth, inflation, and monetary policy. The second half of the semester we will investigate individual themes including exchange rate regimes; BoP crises and contagion; global imbalances and the savings glut; the role of FX in "inflation targeting" regimes; and capital markets and emerging markets finance.
Prerequisites: SIPA U6401
This course will explore the politics and economics of the euro area crisis. We will start by evaluating the economic costs and benefits of a common currency. A brief historical survey will provide insights as to the political and economic interests underpinning European monetary integration. We will then explore the causes of the euro area crisis and analyze the political economy of crisis management. Crisis management and subsequent institutional reforms will be evaluated in terms of both economic rationality and competing political interests. Country case studies will help us understand the economic logic of macroeconomic adjustment as well as the various bail-ins/ bail-outs. We will also evaluate the success/ failure of economic reform in the so-called periphery. Last but not least, we will explore how and why broader institutional reforms (e.g. bail-out regime, banking union) came about and whether these reforms will likely to prove successful in preventing future crises.