This course will provide students with the foundational skills to communicate in diverse settings about a number of topics that individuals tend to avoid including those related to race, gender, ethnicity and national origins, gender identity, sexuality, socio-economic class, age, religion, mental health, and disability. People become connected through their conversations and through these connections they can change how they understand and feel about each other (Livingston, 2021). Conversations are a tool for individuals to learn to build trust, develop relationships, and create productive communities. Today’s workplaces are diverse, including people from many backgrounds and experiences; this course seeks to develop students’ understanding of others experiences, increase their awareness of biases and judgments, overcome fears around communicating, and translate this knowledge into developing more cohesive and dynamic work environments.
This course will introduce the theory and frameworks that ground advocacy and community organizing with the aim of enabling such practices within public health and beyond. Students will deepen their understanding of the strategies behind effective advocacy, capacity building, and organizing, both in the field and within institutions. In learning history, power structures, power relations, and pre-existing models, students will learn not only about changemaking but how to affect systemic change themselves. They will learn frameworks to understand social problems and alter power relations including theory of change, relational power building, and power mapping. By examining epidemics, social movements, community health, institutional failures, and public policy, this course will provide students the ability to understand the “why” and the “how” of becoming an advocate and organizer.
The events over year and a half have brought a renewed focus and an increased sense of urgency to recognize and address inequality in our society and institutions. These events have challenged organizational leaders to respond with comprehensive strategies to promote equity and embed racial and social justice within their organizational domains of influence. To achieve this and advance equity, an intentional and dedicated focus that recognizes the harmful effects of systemic inequities is required.
Historically in healthcare, structural inequities have resulted in disproportionately poor outcomes for marginalized groups in our society. The intersections of race, ethnicity, sexual orientation, gender identity gender expression, language, disability, religion and other characteristics further identifies disadvantages and poor outcomes for marginalized groups—notably those with less access to power and resources. Additionally, false notions of racial superiority, white supremacy culture, and explicit or implicit biases contribute to disparities in patient outcomes among people of color and other socially marginalized groups.
This course will explore how leaders are able to effectively advance health equity by dismantling systems of oppression and racism in health care. The focus will be to examine leadership imperatives to establish a collaborative consciousness to instill and promote just policies and practices. To this end, the course will require students to develop an understanding of self-identity and an awareness of how one’s individual actions impact interactions between colleagues, team members and others. The course will provide strategies for effective leaders to establish a foundation to advance diversity management, promote equity and establish inclusion best practices within organizations. In particular, the emphasis will be on leadership accountability to initiate conversations and set forth strategic actions to sustain organizational change.
One of the lessons learned during COVID is the importance of clear communications. Effective public health communications saves lives; bad communications creates fear, uncertainty and worse. Good communications can also make better health policy and expand budgets, saving even more lives.
But too often, senior executives in the public, private or non-profit sector expect that their good works alone are sufficient to gain the support of others, maintain funding, or advance a critical policy agenda. Unfortunately, it isn’t so. In an age of media oversaturation, rapid technology advances that continually atomize people’s attention, and intense competition among interest groups for decisionmakers’ hearts, minds and budgets, successful health professionals must include issue advocacy and communications in their arsenal of weapons to keep their interests relevant and compelling, to move others to action, or to affect public policy.
This course focuses on the practical aspects of issue advocacy and public health communications. It is designed to give the public health professional an introduction to issue advocacy and public health communications, and an understanding of the critical components of developing and implementing such campaigns.
Prerequisites: the instructors permission prior to registration. This course examines the electoral behavior of the American public and the interpretation of election outcomes.
This course serves as a hands-on introduction to both the aesthetics and craft of cinematography geared for the non-cinematographer. The syllabus is designed to deepen students' understanding of the craft and develop the communication skills that enhance a filmmaker's collaboration with a Cinematographer.
Nutrition has rapidly become a focus for US and International Health Policy as well as scores of non-governmental Public Health Programs. This course introduces students to the landscape of Nutrition policy and initiatives worldwide, as well as the deeply entwined relationship between Nutrition and international trade and agriculture. Through a variety of guest lectures, students will encounter diverse and cutting-edge perspectives on international nutrition policy and practice. Students will offer their own presentations and complete four papers but will not be given exams. Students may take this course for 2 or 3 credits.
We will provide a framework for understanding the economic factors underlying the health care system and the interaction of its agents. For several reasons, standard economic models are not adequate to understand markets for health care. For example, it is difficult for the consumer/ patient to evaluate the quality of the services received. Costs are uncertain, and insurance reduces the incentive of the consumer/patient or physician to seek the most economical means of treatment.We will focus primarily on the structure and economics of health insurance and the demand for health care, pricing of drugs and hospital services, cost-benefit analyses employed by payers and consumers of health care products and services, mechanisms used for paying physicians and its impact on the provision of care, and the role of information in the selection and provision of medical goods and services."
For more detailed course information, please go to the Law School Curriculum Guide at: http://www.law.columbia.edu/courses/search
This course addresses the main global macroeconomic risks faced by businesses and governments in the present post-financial crisis era. Some of the questions that we examine include: What are the risks of future financial crises and what are the consequences of new financial regulation? Are the large government debts in the industrialized world going to be problematic over the longer term? What are the main risks with the path of current monetary policies in different nations? How are technological innovation and globalization structurally changing the labor market? And how should companies, government, and workers respond? How is the growth of emerging economies changing energy and other commodity markets and how is this impacting the environment? Is the US dollar declining in importance as the worlds reserve currency? The class will address these topics as a conversation through which the two faculty members will highlight the linkages between theory and practice. Since the course draws heavily from current events, it is critical for students to stay informed about current macroeconomic news, and active class participation throughout the term is very important and highly encouraged.
POLS GR8228 is designed as a graduate-level introduction to the study of political communication. As an introduction to the field, it is structured to cover a wide range of topics and methodological approaches. No single course can provide comprehensive coverage of a fascinating subfield with as long and diverse a history as political communication. As such, this seminar will focus on relatively recent work. Students will leave this course with a strong grasp of major theories, trends, methods, findings and debates in this area of study, as well as the gaps in our knowledge and promising directions for future research.
This is the first of four didactic courses that discuss techniques for anesthetic administration and related technologies in the context of various surgical and diagnostic interventions in diverse anesthetizing locations. Focus is assessment and management of monitoring modalities and other techniques in the perioperative environment. Cultural humility will be incorporated into care plans to develop anesthetic management individualized to patient identities and cultures while including an emphasis on social and cultural health disparities.
This lab is the first of three lab/simulation courses. Focus is placed upon essential technology and procedures utilized in the management of the patient during the preoperative, intraoperative, and the postoperative period. The course activities promote a synthesis of lecture content obtained in Principles & Practice of Nurse Anesthesia I course. Lab/simulation experiences will develop the psychomotor skills and critical thinking inherent to the practice of nurse anesthesia. Specific procedural skills must be safely demonstrated. Cultural humility will be incorporated into care plans and simulations to develop anesthetic management individualized to patient identities and cultures while including an emphasis on social and cultural health disparities.
Individual projects in composition.
The course seeks to bridge two intimately related studies that currently exist within the Film Program: 1. intensive academic analysis of filmmaking practices/principles and, 2. the practitioner’s creative/pragmatic application of those practices/principles in their own work. Students will study, through screenings, lectures and personal research, an overview of various directing forms/methodologies (conventional coverage, expressive directing, comedy directing, subjective directing, objective directing, multiple-protagonist narrative, etc.) with a primary focus on the Western classic narrative tradition. The visual grammar, axiomatic principles, structural necessities of a variety of directing forms/genres will be analyzed and compared with works of art from other disciplines (poetry, painting, sculpture, etc.) and cultures. The ultimate goal is student implementation of these principles in their own work, exposure to and examination of some works of the established canon, as well as a greater understanding of the context in which creation occurs.
This course offers a sample of historical research on debates around African-American intelligence, mental health, family organization, and other social scientific controversies from the era of slavery to the late 20th century. The principal assignment is a lesson plan, instructions for which will be supplied on the CourseWorks site.
Please note that you may not take this course as an auditor or pass/fail without the permission of the instructor.
Columbia Graduate School of Arts and Sciences guidelines may be found at
http://gsas.columbia.edu/
. Those for the history department may be found at
http://history.columbia.edu/graduate/index.html
.
In 1942 E.E. Schattschneider famously wrote that “democracy is unthinkable save in terms of parties.” In recent years, many observers of American politics have argued that the growing division between the two parties is having a negative impact on the U.S. political system. This seminar examines American political parties from both theoretical and empirical perspectives. We will explore some fundamental questions about the U.S. party system, including: Why do we have political parties? Why do voters form attachments to particular parties? Do these attachments affect behavior even outside politics? What role do political parties have in the U.S. Congress? Has politics become more polarized along party lines?
Macroeconomics is in the news every day. Anyone who pays attention to the news knows that the crash in the US housing market in 2008 caused dramatic perturbations to financial markets all around the world. This, in turn, triggered very strong responses by governments in the US (in particular the Federal Reserve and the Treasury), as well as in other countries. This meltdown in financial markets and the interventions from policymakers raise a number of key questions about the health and the future of the economy in the US and abroad, which we will address in the Global Economic Environment II course.This course is a sequel to the core course Global Economic Environment. Building on the fundamentals introduced in that course, we develop a conceptual framework to explain the complex interactions between macroeconomic policy, asset prices, and business cycle fluctuations. In particular, we examine macroeconomic forecasting, determinants, and implications of budget deficits, the conduct and implementation of monetary policy, and the determinants of inflation in the U.S. and other market economies around the world. Special attention is given to the interactions between macroeconomic forces and asset prices.Since an important goal of this course is for students to become informed and sophisticated consumers of economic news, the issues discussed in this course draw heavily from current events and real-world examples.
Note I: The core course GEE while recommended is not a pre-requisite for taking GEEII. Students who expect to exempt from the core course GEE are recommended to take GEEII instead.
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.
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.
The course presents tools, techniques, methodologies, and concepts for composing original music for dance (both acoustic and electronic). Composers will develop a work for dance, culminating in a showing at the end of the semester (most likely digital for 2021). Weekly meetings will be used to discuss the unique challenges (both practical and aesthetic) that this type of interdisciplinary collaboration raises, and to troubleshoot potential solutions. Students will examine case studies of collaborative composer/choreographer pairs (especially from the last 75 years), as potential models for working via the study of artist statements, interviews, articles, videos, and classroom discussions with invited guests. No prior experience writing for dance is necessary. Basic familiarity with a digital audio workspace (such as Logic Pro) is preferable. Non-composer music graduate students may also register (pending permission from the instructor), with a written research project in lieu of creative collaboration as their final assignment.
Data analysis in economics, or "econometrics" as it is called by practitioners, has moved away from mathematical complexity and towards simpler tools that are accessible to businesses and can be applied easily to big data. This course will provide students with an understanding of three widely used techniques in modern econometrics: randomized control trials, regression discontinuity, and differences-in-differences. After learning how these tools provide superior analytic results than traditional regression techniques in making inferences about the real world, students will gain the practical knowledge to wield them successfully and make better decisions with data.
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.
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.
Explores the different types of television and the ways in which producing is defined differently from theatrical narratives. Covers series television (both scripted and unscripted), made-for-TV movies, mini-series and other forms of television; the roles of the writer/producer, the show runner, and the director in different forms of television; how television is developed; and the implications of changing business models. Open to all SoA students.
This course provides a primer on analyzing investment grade corporate bonds. It takes an investor perspective (to evaluate / quantify risk-reward across various IG corporate industries and companies) and a management perspective (to identify optimal capital structure/credit ratings). The course incorporates guest speakers from various functionalities on the buy side (portfolio managers, analysts, and traders), the sell side (underwriters, sales/trading/research), and the management side (treasurers). It will include an overview of “crossover” corporate bonds (falling angels/rising stars), LBO targets, ESG instruments such as green bonds and sustainability-linked bonds, and “corporate-adjacent” bonds (ABS, CMBS, munis). Students will gain exposure to both top-down and bottom-up approaches to IG corporate
bond research and analysis.
As human populations continue to expand, concurrent increases in energy and food will be required. Consequently, fossil fuel burning and deforestation will continue to be human-derived sources of atmospheric carbon dioxide (CO2). The current annual rate of CO2 increase (~0.5%) is expected to continue with global atmospheric concentrations exceeding 600 parts per million (ppm) by the end of the current century. The increase in carbon dioxide, in turn, has ramifications for both climate change but also for plant biology. In this course, our focus will be on how CO2 and climate change alter plant biology and the subsequent consequences for human health.
Overall, the course will have three main components. We begin with an overview of interactions between the plant kingdom and human health, from food supply and nutrition to toxicology, contact dermatitis, aero-biology, inter alia. In the second section, we segue to an overview of rising CO2 and climate change, and how those impacts in turn, will influence all of the interactions related to plant biology and health with a merited focus on food security. Finally, for the remainder of the course, our emphasis will be on evaluating preventative strategies related to mitigation and adaptation to climate change impacts specific to potential transformations of plant biology’s traditional role in human society.
The course is appropriate for students who are interested in global climate change and who wish to expand their general knowledge as to likely outcomes related to plant biology, from food security to nutrition, from pollen allergens to ethnopharmacology.
This clinical science course emphasizes foundational patient care skills with an emphasis on physical therapy practice in the acute care and inpatient rehabilitation settings. This course focuses on developing basic knowledge and skills required to deliver physical therapy services in the earliest stages of recovery, from critical care to inpatient rehabilitation. Students will learn to combine data from multiple sources (including patient history, laboratory results, and patient examination) to produce a diagnosis and prognosis and develop an individualized plan of care. Students learn basic patient handling skills they will utilize throughout the remainder of the DPT curriculum, and they practice and demonstrate proper selection and use of common assistive devices. There is a concurrent focus on physical therapy documentation and the use of functional goal writing to support clinical decisions and justify skilled care. Clinical decision-making is developed through role-playing, case study, and review of scientific literature. Emphasis will be placed on the physical therapist acting as part of an interdisciplinary team of providers, and the important role of patient-centered care.
This is a Public Health Course. Public Health classes are offered on the Health Services Campus at 168th Street. For more detailed course information, please go to Mailman School of Public Health Courses website at http://www.mailman.hs.columbia.edu/academics/courses
This is a first course in capital markets and investments. The course has three principal goals: To introduce the principles of asset valuation from an applied perspective. The majority of the class is concerned with the valuation of financial securities. The valuation issues to be discussed are heavily used in portfolio management and risk management applications. To introduce the following concepts: Arbitrage. The term structure of interest rates. Portfolio theory, risk-control, and diversification. Equilibrium asset pricing models; the CAPM. Efficient and inefficient markets. Performance evaluation. Pricing and hedging basic derivative securities (futures and options) To provide sufficient background knowledge for students seeking an overview of capital markets and an introduction to advanced finance courses.
Advanced Corporate Finance develops the art and science of optimal strategic decision-making by applying corporate financial theory to cases of financial policy, financial instruments and valuation. In particular, the following topics are studied: cost of capital and capital budgeting, discounted cash flow valuation and financial multiples, payout policy, equity and debt financing, option pricing theory and applications, corporate control and recapitalizations. The classes are structured to maximize the synergy between theory and practice, providing students portable, durable and marketable tools for their internships and careers.
The course will describe the major players in Debt Capital Markets, key institutions, broad empirical regularities, and analytical tools that are used for pricing and risk management. Some parts of the course will be analytical while others will be largely institutional. Each session will be organized around one or two key topics. In addition, class notes will be used to supplement and clarify issues. Some selected papers will also be kept in Canvas to serve as background reading for class discussions.Outline of Key Topics:- Overview of Debt Securities: What are debt securities? What are their sources of risk and return? Historical performance of fixed income securities. - Major players and their functions: United States Treasury, Federal Reserve Banks, Primary Dealers, Inter-Dealer Brokers (IDB), Rating agencies, Sell-side and Buy-side institutions. - Bond mathematics: a) price and yield conventions, b) PVBP, Duration (modified, effective and key-rate), convexity, and negative convexity. Trading applications: spread trades, bullet vs barbell positions. - Term Structure Theory: Spot rates, forward rates, par yields, modeling interest rates and pricing bonds. - Structural models of default: Modeling credit risk, credit spreads and their behavior, Distance to default, forecasting rating changes, high-yield and investment-grade debt markets - Government, Agency and Corporate markets - Municipal markets - MBS: Structure of MBS markets, prepayments, Option Adjusted Spreads, Pass-through securities, REMICs, risk measures - Asset-backed markets - Derivatives: Treasury futures, Interest Rate Swaps, and Single-name credit default swaps - Clearinghouses vs exchanges vs OTC markets
The Concepts in Therapeutic Exercise course is taught over the spring semester of year one. The course introduces the student to the underlying frameworks and constructs for normal and dysfunctional movement assessments, and the development of individualized exercise programs as part of the patient management model. Exercise applications that are utilized throughout lifespan that address identified impairments; activity and participation limitations are emphasized. Students will apply clinical decision-making strategies to practice, design, modify and progress exercise programs with proper biomechanical alignment and proper muscle balance for optimal performance that may include range of motion, postural stabilization, progressive resistive exercise, flexibility, pain, proprioceptive neuromuscular facilitation, closed and open chain exercise applications, proprioception and/or balance strategies. These underlying concepts are applied to disorders of the upper quarter, lower quarter and trunk. Video/Case studies presenting with a variety of musculoskeletal, neuromuscular, integumentary and cardiopulmonary impairments will be used to develop clinical decision-making and therapeutic exercise design for a variety of clinical disorders. Patient-practitioner interaction as well as patient instruction will be integrated throughout the series.
Successful investing in Equities Markets requires more than just picking stocks given the wide
array of products at a portfolio manager's disposal. Through a combination of lectures, a case
study and guest speakers, this course is intended to provide firsthand experience on how
products like Options, Swaps, Futures, ETFs, and Structured Notes, and are structured, valued,
and used. Although most of the course relates to Equities, there will be some content on
Derivatives on other Asset Classes
Prerequisites: ECON G6411 and G6412. Students will make presentations of original research.
This course focuses on financial stability monitoring and evaluation as an essential discipline for macroeconomic, financial and prudential policymakers. We begin by defining financial stability, examining the dynamic behavior of macroeconomic models with developed models of the financial sector, and considering conceptual frameworks for assessment of threats to financial stability. From there, we identify key signatures of financial instability, how they can be measured and combined in a monitoring system, and how such measurement systems signal changes in the level of systemic risk. Through case studies, class participation and two assignments, you will interpret these measures, develop questions for further investigation and assess the nature and extent of systemic risk. You will be asked to write two policy memoranda: the first proposing and justifying a small set of financial stability indicators for monitoring; and the second assessing the risk of financial instability in indicators for that (or another) country, in indicators of vulnerabilities with strong network effects, and in unconventional risks such as cyber or widespread trade tensions. Both assignments emphasize developing timely and persuasive analysis that prompts policymakers to consider the need for action to preserve financial stability.
As a student and professional focused on Investment Management, you will be asked to repeatedly ramp-up on businesses, to create a variety of analyses and to synthesize your findings in stock pitch. This process can be incredibly daunting when you first try it (and even for experienced, full-time professionals) due to the sheer volume of information available.
The key is ensuring maximum return-on-time in your investment research. In this class, you’ll learn to avoid the typical early-career equity analyst mistakes that waste time and how to zero in on the critical variables that drive the company you’re researching.
You’ll also learn how to connect qualitative and quantitative factors throughout your research process to create a persuasive thesis supported by proprietary research, grounded in detailed financial analysis and presented through compelling visuals that convey your ideas in a succinct, cogent fashion.
In the end, the goal of this course is to help you maximize your efficiency and effectiveness of your research process from the initial ramp-up to the final pitch.
This 8-week course focuses on the physical therapy management for individuals with impairments to their skin and its associated structures including the hair, nails, and glands. Myers (2004) notes the number of individuals with open wounds treated by physical therapists will only increase due to an aging population, the increased prevalence of chronic diseases and the growth of comorbidities such as diabetes. This course presents the physical therapy diagnosis and management of clients with integumentary impairments with an emphasis on open wounds and burns. Principles of skin anatomy, wound healing physiology, and factors affecting wound repair provides the foundational knowledge necessary for understanding the principles of integumentary impairments. Physical therapy examination (patient, skin, and wound) and interventions (setting up a sterile field sharp debridement, management of infection, dressing selection, compressive wrapping, and modalities available for adjunctive care) are covered. Wound etiologies including acute surgical wounds, pressure, vascular and neuropathic ulcers encountered in the clinical arena and current surgical procedures that facilitate wound healing and closure are delineated. The principles of burn injury including burn assessment, types of burn injuries, classification by level of tissue involvement, burn severity, and systematic complications of the cardiovascular, pulmonary, and immune systems are covered. A multidisciplinary patient management model and implications to physical therapists are discussed.
This short course will start with a brief overview of the post-crisis reforms and focus on the gap that macroprudential policy was meant to fill: the lack of a system-wide perspective on financial stability. It will explore the conceptual and practical difficulties in defining financial stability and setting an operational target for policy; provide a high-level overview of the tools for monitoring systemic risk, including stress tests, as well as of the various macroprudential policy instruments available to mitigate it; and discuss the governance challenges in setting up an institutional framework for macroprudential policy. The course will review how the major advanced economies (US, UK, Euro area) have tackled these issues, as well as discuss aspects of macroprudential policy specific to emerging market (EM) and developing countries. Lastly, the course will examine recent and emerging challenges to financial stability, such as the COVID-19 pandemic, cyber risk, and the transition to a low-carbon economy; discuss the experience so far with macroprudential policy responses to these challenges; and assess the adequacy of the existing tools to address them.
This course will have a practical focus, emphasizing the perspective and actual experience of policymakers. By the end of this course, students should have a good understanding of the concepts of financial stability and systemic risk and their measurement, as well as how they are applied in the real world; the difference between the micro- and macro-prudential approach to financial regulation; the architecture and working of macroprudential policy in a variety of country circumstances; the role of central banks and the associated political economy challenges; and emerging risks to financial stability. Students will be encouraged, including through class discussions and assignments, to approach these issues from the standpoint of policymakers.
In this class, students will be introduced to a variety of hybrid public/private equity investing strategies and situations, including (pre-IPO) crossover funds, tactical opportunity funds, SPACs, PIPEs, take-privates, and more. We will discuss the key similarities and differences between public and private investing, highlighting areas of synergy (and dis-synergy) in the investment process. Teaching methods will include an upfront review of hybrid investment frameworks, hands-on analysis of case studies and real-life situations, and insights from many guest speakers.
Pre-Req: B8306 - Capital Markets & Investments
“Our violence towards the Earth springs from, and is modeled on, our violence towards other human beings.” — Amitav Ghosh in conversation with Lucia Pietroiusti, Guggenheim Museum, February 5, 2022
Many contemporary artists are trying to find sustainable and equitable ways of operating in a global economy hellbent on growth no matter the cost, including extinction. If, as Earth inhabitants in the Anthropocene, we are all contributing to the current climate crisis, we can also be among the millions of solutions needed. In this class, we will expand our climate awareness and process our climate grief by learning lessons from non-human entities, Indigenous teachings and traditions, and current legal actions and grassroots activism against extractivism and the legacies of conquest, imperialism, and settler colonialism. In hopes for a more livable earth, Ben Okri’s concept of “existential creativity,” Amitav Ghosh’s call for a return to animist storytelling, Four Arrows’ goal for mainstream education to adopt Indigenous worldviews, and recent art that proposes the possibility of a regenerative future will be our guides.
A variety of media and content will be covered including the work of Gloria E. Anzaldúa, Artists Commit, Richard Bell, Octavia Butler, Rachel Carson, Meehan Crist, Ben Davis, Torkwase Dyson, Extinction Rebellion, Carolyn Finney, Fridays for Future, Dina Gilio-Whitaker, Amitav Ghosh, Linda Goode Bryant, The Harrison Studio, Katharine Hayhoe, Ayana Elizabeth Johnson, Yun Ko-eun, Bill McKibben, Gustav Metzger, Timothy Morton, Darcia Narvaez, The Natural History Museum, Ben Okri, Lucia Pietroiusti, Kim Stanley Robinson, Mary Robinson, Astra Taylor, Mierle Laderman Ukeles, Wahinkpe Topa (Four Arrows) aka Donald Trent Jacobs, Robin Wall Kimmerer, Elvia Wilk, Isabel Wilkerson, and Tyson Yunkaporta. Class guests and field trips will include artists and thinkers working on the precipice of climate education, action, healing, and justice.
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."
Prerequisites: G6215 and G6216. Open-economy macroeconomics, computational methods for dynamic equilibrium analysis, and sources of business cycles.
What happens when we reject the classic hero’s journey in favor of new myths? From folktales to franchises, this course from the Digital Storytelling Lab will explore transportive worlds and the methods used to create them. Collectively, we will deconstruct the idea that World-Building is a private practice and instead, uplift the notion that it is a creative tool to strengthen stories and expand ideas. As Author and activist Clarice Lispector writes: “Creating isn't imagination, it's taking the great risk of grasping reality,” but what happens when we use World-Building to shift the systems that govern our reality?
Leveraging storytelling techniques of Alternate Reality Games (ARGs) and Role Playing Games (RPGs), we will collectively build a world that transcends the classroom and moves into the outside world, ultimately bringing participants together to tackle complex issues and redefine solo authorship as a collaborative space. This course culminates in the collective experience of each other’s worlds and the Alternate Reality experiences therein. There are no prerequisites for this course.
This course addresses the current structure of deployed applications on the blockchain and the structure of communication across protocols and blockchains. It will begin by covering the fundamental building blocks of on-chain activity: AMMs, borrow/lending protocols, oracles, and bridges. The course will then shift toward analysis of these protocols, including previous hacks/exploits, risk evaluation, and implications for both crypto and financial markets structure
This course provides students with an overview of recent and emerging topics in private equity that influence industry decision-makers and capital providers. Understanding the political, regulatory, and macroeconomic issues covered in the course is critical for private equity practitioners’ success in their deal evaluation, valuation, asset allocation, and post-deal integration activities. Discussion and analysis of these topics also ensure that students entering the private equity industry are prepared for conversations about critical topics with their colleagues. The topics for this term are:
? Allocating private equity in the institutional investor’s portfolio and changes to risk and return.
? Blurring the lines between public and private equity: new fund structures and emerging regulation.
? Private equity as venture capital: growth equity and the changing investment model.
? Private equity in emerging markets.
? Does private equity matter? Exploring the impacts of private equity in firms and industries.
We invite an expert guest speaker each week to provide their experience and expectations and the topic. Their participation is paired with lecture material and/or a case discussion. Course materials include background readings, news articles, and academic work on private equity. The course deliverables include case memo writeups – a combination of qualitative and quantitative analysis -- and a final project that requires student groups to analyze an emerging topic not covered in the course.
Students are expected to have a mastery of the “mechanics” of private equity, including fund structure, deal structuring options, valuation techniques, the role of operational changes, etc. This mastery is assumed with a student’s completion of the prerequisite course Foundations of Private Equity or with professor's review of a student’s career experience in private equity.
Before taking this course, students are recommended to take B8457 (Foundations of PE I) and B8306 (Capital Markets & Investments).
As the course title implies, we will familiarize students with the tax principles that must be considered by corporate managers and their advisers with respect to transactions that result in a re-alignment of the corporations business activities or its capital structure. In most respects, the course will be taught from the perspective of the outside adviser engaged to provide guidance regarding a major corporate transaction or financing decision. The student will, once the course is completed, secure an ability to recognize common re-structuring/financing scenarios confronting management and be positioned to propose viable solutions to these problems in a manner that minimizes tax outlays, consistent with prudent and, above all, ethical business practice.The course features a final examination and a term paper; typically, but not necessarily, the paper is prepared on a group basis. The readings for the course consist, primarily, of Lehman Brothers Tax and Accounting" Research Reports and "The Willens Report" research pieces and articles from professional taxation journals as well as decided cases and I.R.S. pronouncements.We will supply all such reading materials on the first day of class."
Climate Tech refers to a broad range of technologies designed to mitigate the drivers and impacts of climate change. Development and commercialization of these technologies is essential if humanity is to maintain global prosperity while also avoiding catastrophic climate change. This immersion course provides students with the opportunity to work on a real-world technology to address climate change.
Students will be placed in teams of four, composed of two CBS students and two SEAS engineering students. Student teams will be matched with venture capital funds actively financing climate tech that have identified an innovative technology for mitigating or adapting to climate change. Students will meet virtually with their assigned venture fund at the beginning of the course, during a mid-point check-in, and at the end of the course for the final presentation.
Each team will be tasked with assessing their assigned technology on (i) technical viability, (ii) commercial opportunity, and (iii) impact on mitigating or adapting to climate change. The final course deliverables are a presentation to classmates, a presentation to each team’s assigned investment fund, and a written report or presentation deck for the investment fund. Students are also required to complete a reflections assignment at the conclusion of the course. During weeks 4 – 11 students will spend up to nine hours every week doing independent research, collaborating with the fund, and completing assignments.
The purpose of this immersion course is for students to learn to work in teams across different skill sets and disciplines, combining expertise in business and engineering, with the objective of learning how to evaluate technology solutions to climate change. This course is designed to replicate the real-world experience in which collaborative teams use a multi-disciplinary approach to assess the opportunities, challenges, and impacts of new technology solutions to climate change.
This class, will primarily focus on the challenges of interpreting and performing Shakespeare.
The goal of this course is to give students a stronger theoretical foundation on data science and a provide them with a technical toolkit. This course will prepare students with skills they will need to undertake research that relies on strong quantitative and data science foundations and will help prepare students to excel in other Data Science-focused course offerings in the department of Biostatistics and Environmental Health Science (EHS). This course will build on the first half of P6360 Analysis of Environmental Health Data, which introduces coding in R and the basic framework for conducting EHS-related data analysis across EHS disciplines (e.g., toxicology, epidemiology, climate and health). This course will cover both conceptual and practical topics in data science as they relate to environmental health sciences. Each session will be divided into two parts. In the first hour of the class there will be a lecture. Following a brief 5-minute break, the last two hours of the class will be spent on a lab project where students will apply the methods they learned in the lecture.
This is the first of three consecutive courses focusing on utilizing a systems and developmental approach in primary care. This course will focus on the differential diagnosis and comprehensive care management of commonly encountered acute and chronic physical and mental health illnesses as they affect individuals across the lifespan. For each system studied, health assessment, diagnostic findings, and multi-modal management will be highlighted.
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, a joint offering of the Law School and the Business School, concerns the regulation of capital markets: The Exchanges and the variety of other institutions devoted to the trading of securities. Secondary trading markets perform three important social functions. They provide liquidity for investors, allow more efficient allocation of risk, and incorporate information into prices (which in turn serve as vital guides to real economic activity). The reliability and effectiveness with which capital markets perform these functions and their costs of operation are determined in significant part by the rules governing the persons who operate, and trade in, these markets. The course will begin with a consideration of major domestic and transnational capital market institutions. It will then address the economic theory that explains how capital markets operate and the incentives that motivate their various players. These beginning segments lay the groundwork for a more informed discussion of the substantive law that governs capital markets. The course, with its focus on persons who operate or trade in capital markets, should be distinguished from Securities Regulation, which is devoted primarily to the regulation of the behavior of issuers and their agents in connection with the primary offering and secondary trading of their securities.
This course studies the evolution of the high yield bond and loan markets, and the behavior of market participants from
peak to trough and back again through various credit cycles. Through lectures, case studies, and guest speakers, we
discuss through-cycle changes in valuation, structure, capital raising, liquidity and other investor considerations.
To provide context, we will use the Caesars/Harrah’s 2006 leveraged buyout as a case study that illustrates each phase
of the credit cycle. Four other case studies (HCA, NXP, Realogy and a contemporary case, TWTR) will be used to highlight
the two extremes of the cycle (“feast” and “famine”), and how they build on the calmer (some might even say boring)
phases of the credit cycle.
Students should leave the course with an understanding of the concept of the credit cycle and the ability to identify peak
and trough conditions and behaviors.
The course focuses on the set of concepts and techniques used to analyze and finance income-producing real property. It starts with the characteristics that make real property different, including cash flow uncertainties, debt sources and tax features. It then considers the available strategies and structures of real estate finance, including capital structure choices for construction and permanent financing. Extensive use is then made of cases to illustrate the range of choices and outcomes.
This is the third course of three consecutive courses focusing on a systems and developmental approach in primary care with emphasis on risk assessment, comorbidities and acuity to determine the most appropriate level of care. This course will focus on the differential diagnosis and comprehensive management of commonly encountered acute and chronic physical and mental health illnesses as they affect individuals across the lifespan.
The Real Estate Project Class provides students who intend on pursuing careers in real estate the opportunity to learn how to analyze and execute value-add investments and presentations of same under the guidance of an experienced professor and practitioner, as well as a veteran real estate owner/investor/intermediary sponsor. The course will include instruction in investment conceptualization, analysis, strategy, research and execution. Presentation skills, both oral and written, are integral to the course and project. Two student groups, each group consisting of three or four students, will work with an outside project sponsor to create a transaction presentation based on a real-world sponsor investment.
Personal laptops will NOT be permitted in class. CBS iPads will be permitted only.
Either B8332 RE Transactions or at least 1-year experience of real estate/ transactions experience with instructors permission is required for this course.
The Real Estate Project Class provides students who intend on pursuing careers in real estate the opportunity to learn how to analyze and execute value-add investments and presentations of same under the guidance of an experienced professor and practitioner, as well as a veteran real estate owner/investor/intermediary sponsor. The course will include instruction in investment conceptualization, analysis, strategy, research and execution. Presentation skills, both oral and written, are integral to the course and project. Two student groups, each group consisting of three or four students, will work with an outside project sponsor to create a transaction presentation based on a real-world sponsor investment.
Personal laptops will NOT be permitted in class. CBS iPads will be permitted only.
Either B8332 RE Transactions or at least 1-year experience of real estate/ transactions experience with instructors permission is required for this course.
The focus is “macro” or top-down aspects of portfolio management, such as strategy and diversification. Topics include:
• Key decisions that affect portfolio performance
• Assessing alpha opportunities
• Evaluating risk-return tradeoffs
Buy/hold/sell decisions for an individual asset in a portfolio context are discussed, but this course does not cover deal analysis and transaction execution.
After completing this course students will be familiar with issues that arise in constructing and managing a real estate portfolio, including elements of portfolio strategy, managing diversification, liquidity and risk and evaluating performance.
Early modern art theory, in order to defend the nobility of painting, sculpture, and architecture above craftsmanship, conceptualized drawing as the graphic expression of an idea conceived in the mind. Only Leonardo da Vinci claimed instead that the invention of a figure or a composition could come out of the explorative gesture of the hand drawing freely, without preconceived thoughts. Several rough sketches, scribbles, and doodles, found in the margins of elaborated drawings, as well as on the backs of paintings, on the sinopie under the frescoes or on the walls of the studios, reveal how experimental, playful, regressive graphic gestures indeed surrounded artistic creation. Addressing the tension between theory and practice, the seminar will explore the multifaceted aspects of drawing as gesture.
High-stakes real estate M&A transactions require consummate deal-making skills and a thorough understanding of the underlying business, legal, tax, financial and strategic frameworks. This case study oriented Workshop will explore, in particular, the relevant financial advisory and legal skills needed to consummate these transactions, and will also highlight these skills in a combination of relevant class discussions, exercises/assignments and guest lectures.
Volatility and inconsistency between publicly traded REIT and REOC prices and the underlying net asset value of these assets have and will continue to create M&A opportunities in the publicly traded real estate sector, whether through strategic combinations, privatizations, hybrid public and private transactions or sophisticated and complex public/private joint ventures. Capital flows into the U.S. real estate sector continue to be robust, which makes for a more interesting M&A dynamic. Thanks in part to the efforts of NAREIT (the National Association of Real Estate Investment Trusts) there continues to be legislative improvement in the tax scheme that governs REITs. This has provided REITs with greater operating and transaction flexibility, and recent legislative changes have improved the ability of foreign persons to invest in publicly traded REITs. On the other hand, as the Federal corporate tax rate has declined from 35% to 21%, the tax advantage of the REIT dividends paid deduction has lessened.
This Workshop will take a multi-disciplinary approach, based on the premise that effective transaction advisors must understand the business, financial and tax goals and implications of the deal and, similarly, that an effective business or finance executive must also have a solid grasp of the financial, structural, legal, and tax underpinnings for the transaction.