Despite growing pressure to decarbonize, oil and natural gas continue to shape global power and politics. This course examines how energy markets drive foreign policy, economic security, and international conflict. Students will explore the central role of oil and gas in geopolitical relations, from OPEC+ and the petrodollar to the wars in Ukraine and the Middle East.
The course is organized in three parts: the geopolitics of oil, the geopolitics of natural gas (with a focus on LNG), and shifting dynamics as the world transitions toward lower-carbon energy. Case studies include Russia’s energy leverage, US–Saudi relations, the rise of US LNG exports, and Venezuela’s paradox of poverty amid vast oil reserves.
Students will assess global energy trade patterns and analyze the political impact of price shifts, sanctions, and infrastructure development. Classwork emphasizes oral analysis, policy writing, and active debate.
This course is ideal for students interested in energy diplomacy, security studies, or climate and foreign policy intersections. No technical background is required.
This course will examine the role and impact of gender in the financial sector and its implications for gender equity more broadly. Access to capital and financial products and services determines who has the ability not only to best meet their basic financial needs, but to build and grow businesses, to become property owners, to invest and build wealth, to take risk, and to be full participants in the political and financial economy. We will explore the implications of gender differences in financial experience, access, and opportunity. We will examine the historic and psychological underpinnings of gender inequities in the financial sector and their impacts in both the traditional and emerging financial sectors. We will look at what drives change in the financial sector, including the impact of seismic financial and societal transitions. Our goal will be to identify policies, recommendations, and opportunities to impact the financial sector toward greater gender equity.
This course introduces students to gender mainstreaming, gender analysis, and intersectionality as both theoretical frameworks and applied methodologies in global affairs. Students will examine how gender perspectives are integrated into international policymaking, development programming, and institutional change across diverse fields, including education, public health, economic development, international finance, peace and security, and sustainability. The course draws on feminist theory, empirical research, and case studies to analyze how power, identity, and inequality shape policy design and outcomes. Students will engage with foundational concepts and tools used by multilateral institutions, governments, and civil society to promote gender equity and inclusion. Through workshops and mini-research assignments, students will gain experience with applied methods such as interviewing, text analysis, and gender-based program evaluation. Emphasis is placed on participatory learning and collaborative inquiry. This course equips students with the critical skills and practical knowledge necessary to engage in gender-responsive policy work in global and local contexts.
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.
This course will outline the Global Payments System, both domestic and cross-border, emphasizing Large Value Transfers and the infrastructure of the global financial and monetary system. Payment system operators, by definition, pose systemic risks to the global financial system and the global economy, given their criticality and interconnections to businesses, financial institutions, and households worldwide. The course will also examine the digital transformation in payments, the implications of sanctions, and financial crimes such as fraud, Know Your Customer (KYC), Anti-Money Laundering (AML), and cybersecurity.Financial market Infrastructures (FMIs) and Payment Settlement Systems (RTGSs) like Fedwire, CHIPS, Target, DTCC, SWIFT, and CLS will be reviewed in the context of their economic functions, interconnectivity, governance, and regulation. There will be a particular focus on regulation, application of relevant law, and the risk environment for payment system operators and their customers. A review of relevant policy considerations will be undertaken. The impact of emerging technologies, including tokenization, Central Bank Digital Currencies (CBDC), and AI, will be explored in a rapidly changing environment. No discussion on the Global Payments System is complete without discussing the geopolitical environment. This course will explore how these forces have played out in the past and the near future, including a student mock debate about how they might evolve in an increasingly divided world.
This course will introduce fundamental concepts and a high-level overview of the burgeoning blockchain and cryptocurrency space. The course will begin by providing a background in fundamental concepts in Computer Science such as in cryptography, distributed systems, and data structures. It will then move on to an in-depth overview of blockchain, the history of Bitcoin and the proliferation of new consensus models, ICOs, smart contracts, and more. Industry guest speakers will share their perspectives.
This course explores the foundational and advanced dimensions of International Humanitarian Law (IHL), alongside relevant aspects of International Human Rights Law (IHRL) as they apply to situations of armed conflict. Designed for students interested in the legal regulation of contemporary warfare, the course focuses on providing the conceptual and practical tools to identify, interpret, and apply international legal norms in real-world conflict situations. It examines the mechanisms through which legal rules are developed, implemented, and enforced, including the role of international courts and tribunals in addressing violations.
Case studies drawn from recent and ongoing conflicts—such as in Ukraine, Gaza, Ethiopia, Congo, Syria, Yemen, and Myanmar—serve as the backbone of the course’s analytical approach. These are methodically examined through a case analysis framework developed specifically for this course, enabling students to break down humanitarian crises into legally relevant components and formulate appropriate responses grounded in IHL and IHRL.
This analytical work is complemented by a focused introduction to the core principles of international criminal law, including the structure and substance of landmark war crimes cases. Students will engage with the legal elements of crimes such as willful killing, torture, attacks on civilians, and the use of prohibited methods of warfare, drawing on key jurisprudence from international tribunals and courts.
The course supports the development of legal reasoning, critical thinking, and research skills. Students will learn to articulate law-based, action-oriented proposals and define key legal questions relevant for academic work and professional practice—whether in international organizations, the media, or humanitarian institutions. By the end of the semester, participants will have a solid understanding of IHL’s core principles, terminology, and legal architecture, and will be equipped to navigate and respond to the complex legal challenges presented by modern armed conflict.
Key issues discussed include the legal protection of internees, prisoners, and hostages under the Geneva Conventions; the erosion of civilian protection in asymmetric warfare, especially where individuals participate directly in hostilities or are used as human shields; the regulation of indiscriminate attacks and destruction of civilian infrastructure, including the legal implications of missiles, drones, autonomo
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 equips students with the tools to critically evaluate empirical research through the lens of causal inference. Emphasizing real-world policy relevance over statistical correlation, it introduces students to identification strategies that approximate randomized trials using observational data. Students will explore advanced econometric methods, including instrumental variables, difference-in-differences, fixed effects, regression discontinuity, and synthetic controls, while examining their strengths and limitations in drawing causal conclusions.
Designed for students with prior coursework in quantitative methods (U6500 and U6501), this course stresses conceptual rigor and applied skills. Assignments include STATA-based replication exercises, a research design proposal, and seminar engagement. Readings and examples draw from policy-relevant domains such as health, education, and environmental economics. Students will leave the course with a deeper understanding of how to produce, assess, and apply causal evidence to inform public decision-making.
This interdisciplinary course explores how technology, policy, and law intersect in addressing complex cybersecurity challenges. Taught by experts in each field, the course examines how different disciplines approach problems such as cybercrime, national security threats, and corporate intrusions. Students will gain foundational knowledge in Internet architecture and computer security, legal frameworks governing cyber activity, and policy strategies for defense and resilience.
The course is structured around four major cyber incidents—SolarWinds, NotPetya, Colonial Pipeline, and Sony Pictures—which serve as case studies to analyze vulnerabilities, responses, and policy implications. A team-based group project will link these “great hacks” to themes in the U.S. National Cybersecurity Strategy, encouraging students to develop interdisciplinary mitigation proposals.
Designed for students with prior cyber-related experience, this course strengthens the ability to think and communicate across technical, legal, and policy domains, preparing students to work effectively on cybersecurity in any professional context.
This course explores sovereign risk through the lens of credit rating agency methodologies, historical debt crises, and contemporary developments in sovereign debt markets. Students will examine the interplay of fiscal, institutional, political, financial, and geopolitical dynamics that shape sovereign creditworthiness. Students will gain fluency in rating criteria, peer comparisons, and debt sustainability analyses, with a focus on Moody’s sovereign bond rating methodology. The course culminates in a mock credit rating committee exercise. Students will emerge with practical skills in sovereign risk assessment and a deeper understanding of global debt trends.
Enrollment in this course is restricted to students who have officially declared the IFEP concentration, as reflected in their Stellic profile. If space allows, enrollment may be extended to additional students at a later date.
This course examines the relationship between energy production, human development, and sustainability. It explores how energy projects, businesses, and policies—collectively referred to as “energy enterprises”—operate in frontier markets and developing countries. Students will analyze how energy access and use intersect with critical issues such as poverty, gender, health, displacement, and environmental justice.
Course modules cover energy systems and actors, urban and agricultural applications, and thematic challenges such as energy ethics, cooking fuels, and displaced populations. Students will conduct applied research on one of five selected topics, culminating in an enterprise proposal. Assignments include issue mapping, case analysis, and basic financial feasibility assessment.
By the end of the course, students will be able to connect global sustainability frameworks to practical, locally grounded enterprise planning. The course emphasizes systems thinking, ethical analysis, and a balanced approach to energy and development goals.
In many parts of the world, humanitarian actors cannot successfully alleviate and prevent the suffering of people living in areas affected by armed conflict without engaging with armed groups. The International Committee of the Red Cross (ICRC) estimates that there are over 450 armed groups of humanitarian concern worldwide, over 130 of which are parties to a non-international armed conflict. Africa accounts for over 40% of these groups, with about 20% in each of the Near and Middle East (NAME), the Americas, and in the Asia and Pacific. In 2024, the global population living in areas fully controlled or contested by armed groups is estimated by the ICRC to have increased to 210 million people, with 83 million living in areas fully controlled by armed groups, up by 19 million from 2023.
Many armed groups that control territory provide a degree of services and governance structures in areas they control, including health care, education, taxation, public utilities, justice/dispute resolution, security and taxation. However, the basic needs of the population in areas controlled by many armed groups are often not fully met. Humanitarian access, and dialogue on protection and assistance matters with such armed groups is an important part of humanitarian action worldwide.
The last 30 years, however, have made these aspirations more difficult, as a multiplicity of armed conflicts and different types of non-state actors have emerged, posing significant challenges on the ability of humanitarian workers to effectively engage with belligerents, and hindering their access to these individuals. The lack of separation between those actively participating in conflict and those who do not have particularly made it difficult for external actors to identify who, when and how to engage on humanitarian issues, together with the level of engagement and the timing of such interactions. Additional existing inquiries relate to the strategies set in place for effective engagement: who should be in the lead of humanitarian engagements on the ground? And how can the humanitarian community best assist and increase the protection of civilians in areas controlled by entities designated as terrorist, or in fragile States?
This class will examine these inquiries, together with the parameters of engagement with a range of actors- from peacekeepers to formal armies to paramilitary groups and designated entities to community and religious leaders to determine what legal and moral bases exist for en
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.
In the 21st century, armed conflict continues to put millions of children in harm’s way, exposing them to human rights violations, including recruitment and use by armed forces and armed groups, military detention and ill-treatment, rape and other forms of sexual violence, forced displacement, family separation, and physical injuries. Children also suffer from trauma and other serious and long-lasting psychological consequences resulting from the violence they have experienced. In addition to these direct violations, children are equally affected by indirect violations of their rights, including attacks on schools and hospitals and the denial of humanitarian access.
In this course, students will examine the international legal framework for the protection of children in armed conflict and the international humanitarian response system designed to assist affected children and address their physical and psychosocial needs. Students will critically assess these mechanisms for their efficacy and continued relevance for protecting children during war.
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.
Emerging and developing economies are expected to account for the bulk of the energy demand and carbon emissions growth in the coming decades. Drastic changes are necessary to their current energy systems and future energy infrastructure so that it is in line with global climate goals—an effort that will require significant amounts of capital. This course will look at the formidable task of financing the energy transition in emerging market and developing economies (EMDEs). We will start by studying what the energy transition is, how it relates to climate goals, and what needs to be financed. The course will look at the different estimates of how much will the energy transition cost, particularly for emerging markets. The class will also survey the current financial energy landscape to assess what is working, what is missing, and the potential governance structures that are needed to mobilize the necessary financing. The existing sources of financing from the private sector, development agencies, and international financial institutions will be discussed to understand the specific challenges and opportunities of each source of financing for emerging markets. The course will look at the broad financing toolkit available, from blended finance vehicles, de-risking instruments, and the new ones that are being deployed like ESG investing and thematic bonds. Students will also be introduced to carbon markets and the role they can play in financing the energy transition in emerging markets. Lastly, the course will cover the financing of transition assets to understand how and when capital should be deployed for these assets, including the capital needed to retire or retrofit existing fossil fuel assets.
Whilst the global number of people living in poverty has significantly decreased over the last decades, there is an increasing number of severe and protracted humanitarian emergencies, caused by conflict, governance failures, climate change, and man-made disasters. These challenges are compounded by recent changes in geopolitical strategies and policies, which already have profound immediate and will have long-term impact on reducing extreme poverty, resolving conflicts, and making the Sustainable Development Goals increasingly elusive..
There has been growing acceptance among the international aid community that these problems can only be addressed through a combination of tools – humanitarian, development, and peace initiatives – that require new governance, financing, and coordination mechanisms. This approach emphasizes that for sustainable improvements, temporary solutions must be part of a broader vision that not only saves lives in the short term but also addresses the systemic issues affecting stability and development in the long run.
The benefits of the Nexus approach include greater coherence among the three sectors and reduced fragmentation among the various actors working in conflict-affected areas. Additionally, it improves effectiveness through coordination across sectors, ensuring that immediate relief efforts transition smoothly into longer-term recovery and peace initiatives. This approach also helps mitigate the risk of renewed crisis and fosters comprehensive disaster risk reduction by addressing not only the symptoms but also to address the root causes of protracted conflicts.
This “search for coherence” is not new and raises important questions about ethics and fundamental principles in humanitarian action, the nature of conflicts and protracted emergencies, and how different spheres of action interact to balance the immediate urgency of humanitarian needs with longer-term development and peace objectives, as well as to navigate complex political environments where external interventions may be met with suspicion and politicized.
This course provides students with a critical perspective on these issues, looking at core concepts and definitions, historical trends, theoretical debates, and the current policy and practice landscape. The course will also provide a practitioner’s perspective on many of the issues, through case study examples, the participation of guest speakers, and an opportunity for students
This course offers students a strategic and applied framework for understanding the global financial services industry, spanning commercial and investment banking, asset and wealth management, central banking, and financial regulation. Students will examine the sector’s evolution, current challenges, and future direction. Topics include risk management, regulatory change, financial technology, global competitive positioning, and the strategic dilemmas faced by CEOs in a post-2008 financial landscape. The course emphasizes leadership and critical thinking over technical specialization, and culminates in a team-based final project presented to industry executives. The course is intended for students preparing for leadership roles in global finance and policy.
This course explores the evolving landscape of cyber conflict and cybersecurity across the Indo-Pacific region. Students will examine national strategies, regional cooperation efforts, and the role of major actors such as China, Japan, South Korea, North Korea, ASEAN, and India. The course will cover cyber threats, disinformation campaigns, state-sponsored hacking, digital diplomacy, and the geopolitical dimensions of emerging technologies like AI and quantum computing.
Through interdisciplinary readings, guest lectures, and dynamic discussion, students will analyze key cases and develop policy recommendations. Assignments include briefing memos, comparative analyses, and a final research paper. No prior expertise in cybersecurity or Indo-Pacific politics is required, though background knowledge is helpful.
This course prepares students to engage critically with cyber policy issues in a region increasingly central to global security.
A surge in violent conflict since 2010 has led to historically high levels of forced displacement. More recently, the war in Ukraine has caused the fastest-growing refugee crisis in Europe since the end of World War II. Globally, there are
more than 100 million forcibly displaced people
including refugees, internally displaced persons and asylum seekers who have fled their homes to escape violence, conflict and persecution.
The majority of the world's refugees come from just a handful of countries, with Syria, Venezuela, Afghanistan, South Sudan, Ukraine and Myanmar being among the top countries of origin. These refugees often seek safety in neighboring countries, but many also attempt to make the dangerous journey to Europe or other parts of the world. In recent years, an upsurge of mixed migration has posed enormous practical, but also ethical and legal questions to host governments and aid organizations: in today’s world, what distinguishes a refugee from a migrant? And how does their ensuing treatment differ? Climate displacement, which is growing exponentially outside any normative framework, adds to the complexity of how to address the needs and rights of the displaced globally.
Internal displacement is also a major issue, with people being forced to flee their homes due to conflict, violence, natural disasters, and other factors. IDPs often face similar challenges to refugees, such as lack of access to basic needs like food, water, and healthcare, as well as limited opportunities for education and employment.
The course will allow students to examine the history, norms, principles, actors and governance related to forced displacement to assess with a critical lens whether the system is set up to respond to what forced displacement is today, with all its complexities. Through a combination of thematic sessions and case studies, it will provide an overview of the typologies of displacement, the different initiatives and durable solutions pursued, as well as the remaining questions the international normative and assistance system has to answer.
This advanced course equips students with foundational knowledge in portfolio management, with a particular emphasis on the intersection of investment theory and public policy. Students will explore core concepts from Modern Portfolio Theory (MPT) and evaluate its practical limitations and real-world applications. Topics include asset allocation, portfolio construction, risk metrics, factor investing, ESG integration, and key performance indicators such as Sharpe and Sortino ratios. The course also critically examines the impact of public policies, such as monetary, tax, pension, trade, and climate policy, on institutional investment strategies. The course prepares students for professional roles in asset management, multilateral institutions, or regulatory bodies by combining theoretical frameworks with applied investment decision-making in a policy context.
This course is designed to introduce the student to the role of the nurse practitioner as a provider of community centered family primary care. The focus will be on health maintenance and illness prevention.
What does it take to spark real environmental change? This course invites students to explore how advocacy influences environmental outcomes at the local, national, and global levels. From climate protests and community campaigns to policy negotiations and court rulings, students will examine how activists, scientists, and grassroots groups shape public discourse and government action.
Using case studies and comparative examples, including from the United States and China, the course looks at how environmental advocacy works across different political systems. Topics include environmental justice, the politics of science, institutional dynamics, and how visions for the future of nature are contested and advanced.
Ideal for students interested in sustainability, public policy, or civic engagement, the course emphasizes practical skills and critical thinking. Students will complete short writing assignments and a final project focused on a real-world advocacy effort of their choice. No prior experience with environmental policy is required--just a curiosity about how ideas become action.
This is a theory and applications course in international macroeconomics and finance. It provides students with the basic tools to analyze real-life macroeconomic, policy, and financial market situations. The class is suitable for those interested in working at domestic or international policy institutions, in diplomatic service, the financial sector, or the media. Lectures are fairly rigorous, though if the student has some first-year economics, knows basic algebra and graphs, they will handle the material fairly easily. While theory is central, policy and market relevance is emphasized through: i) discussions on topical issues; ii) study of key historical and current episodes to illustrate ideas; iii) relevant pieces of policy/media/finance sector analysis. In terms of topics, part one will develop analytic frameworks to understand exchange rates in terms of short- and long-term determinants. Part two explores the balance of payments and the interaction between the macroeconomic policy, the exchange rate, and macroeconomic outcomes. Then part three will cover various advanced topics such as the choice of exchange rate regime, the euro, currency crashes, and default.
This course examines the sources, substance, and enduring themes of American foreign policy. Part I reviews the rise of American power in world affairs from the 18th Century through the end of the Cold War. Part II provides an overview of the process and politics of American foreign policy making. Part III applies the theory and history of Part I, and the process of Part II, to examine a number of contemporary U.S. foreign policy issues and debates, including America’s two wars with Iraq; its responses to the threat of global terrorism and proliferation of weapons of mass destruction; what role the United States should play in the world economy, global and regional institutions, and the developing world; and how best to manage a rising China and other emergent challenges.
This course is designed to provide beginning familiarity with Dialectical Behavior Therapy (DBT), an evidence based psychosocial treatment initially developed for suicidal individuals with borderline personality disorder (BPD). Students will be taught the primary theories, principles, and strategies that inform DBT. Students will also become familiar with the latest research on DBT for BPD. Lecture, demonstration, multimedia applications, and group discussion will be used as the primary teaching methods. DBT is a complex treatment with multiple facets. It is therefore not expected that a student will have full competence to deliver the treatment as a result of just this one course. However, this course will provide sufficient background and serve as a necessary prerequisite before using DBT in an applied setting.
This course explores welfare systems from a comparative perspective and analyzes the political, economic, socio-cultural, and historical factors that shape and sustain them in various parts of the world. It pays particular attention to the development of key national social welfare policies, such as social security, health care, unemployment insurance, social assistance, public employment and training, and emerging best practices and challenges in these areas. The course also analyzes pressing global/regional trends (e.g., greying of societies, labor market stratification, social innovation, and working poverty).
Dialectical Behavior Therapy (DBT) is an evidence-based treatment that was originally developed for chronically suicidal individuals and is now the gold standard treatment for Borderline Personality Disorder. The treatment and its adaptations have since been proven through research to be effective across a wide range of disorders and behavioral problems which have at their core the issue of Pervasive Emotion Dysregulation. Students will be introduced to key theoretical concepts that inform the “spirit” of DBT, along with an overview of core treatment strategies as used within a DBT skills group. This course is focused on DBT skills, and will provide students with a basic understanding of the four DBT skills modules (Core Mindfulness, Interpersonal Effectiveness, Emotional Regulation, Distress Tolerance). The focus will be on the revised and expanded DBT Skills Manual released in late 2014. Through course assignments and in-class activities, students will have an opportunity to learn the content of the skills, as well as how to structure and conduct a DBT skills group. Students will develop a beginning understanding of standard comprehensive DBT, the particular function of each treatment component, (e.g., individual, group, consultation team, coaching) and how DBT skills relate to the other program components. The basic format of this course will include the Instructor's presentation of concepts and principles, group discussion, modeling, role-plays, and technique coaching. As a practice elective, the major focus is on skill development. As such, students are expected participate fully in in-class practice exercises and be receptive to feedback from their classmates.
DP-Lab II builds on the foundations of the Development Practitioner’s Lab I and equips students with practical skills for effective and inclusive organizational leadership and management. Drawing on students’ summer field experiences, the course introduces core competencies in three interconnected units: strategy development, systems management, and leadership. The course emphasizes systems thinking, real-world application, and iterative learning.
Through applied assignments, students will act as strategy advisors for real or simulated organizations, developing mission-driven recommendations grounded in organizational analysis, management design, and leadership frameworks.
This seminar examines the evolution of global monetary policy from 2000 to the present, focusing on the actions and strategies of the Federal Reserve, the European Central Bank, and the Bank of England. Students study the major economic disruptions of the era, including the Global Financial Crisis, the Eurozone sovereign debt crisis, the COVID-19 pandemic, and the recent surge and subsequent decline in global inflation. The course analyzes how central banks operated under constraints such as the effective lower bound and explores the adoption of unconventional monetary tools. Students will assess the effectiveness, repercussions, and future trajectory of monetary policy in advanced economies.
This seminar explores U.S. social policy across education, housing, health, poverty, and economic development. With a practitioner orientation, the course emphasizes policy design, implementation, equity, and evaluation. Students learn to produce actionable policy briefs and proposals grounded in evidence, institutions, and political real-world contexts.
This course explores how contemporary conflict is changing and how conflict prevention and resolution strategies must evolve in response. Through case studies and practitioner insights, students examine shifting conflict dynamics, the role of international institutions, and a range of peacebuilding tools—from mediation and state-building to justice and sanctions. Emphasis is placed on ethical dilemmas and operational challenges in real-world contexts. No prerequisites are required, though prior exposure to conflict studies is beneficial.
This seminar will focus on key topics in international finance and monetary theory, with particular attention to the relationship between monetary policy and financial markets. Central banks play a significant role in shaping global financial markets, but financial markets can, in turn, influence central banks and monetary policy. Understanding the feedback effects between the two is essential for both market participants and policymakers. The course covers the relationship between financial conditions and monetary policy; yield curves, term premia, and the real equilibrium interest rate; exchange rates, inflation, and central bank credibility; energy prices and supply shocks; and the recent resilience of emerging markets to higher global policy rates.
Each weekly session will integrate theory, empirical research, and case studies. Sessions will begin with a brief overview by the instructor, followed by a class discussion based on the assigned readings. Students are expected to be well prepared and to participate actively. Some sessions will also include brief student presentations.
This course explores how Environmental, Social, and Governance (ESG) objectives and data are integrated into investment decision-making. Through a combination of academic theory, real-world case studies, and hands-on exercises, students examine how ESG considerations affect risk, return, and portfolio design. Key topics include ESG portfolio theory, impact investing, fixed income and labeled bonds, engagement and proxy voting, and climate-aware investing. The course also addresses the limits and potential of ESG data, governance structures, and the role of investors in influencing corporate behavior and public outcomes. Designed for students preparing for careers in sustainable finance, the course emphasizes practical applications and critical thinking.
Impact Investing I: Foundations introduces students to the core principles, tools, and actors shaping the field of impact investing. The course provides a foundational understanding of how capital markets can be leveraged to address global challenges such as climate change, biodiversity loss, inequality, and poverty, while also generating financial returns.
Students learn how to evaluate impact-driven transactions, assess risk and return across impact portfolios, and measure both financial and non-financial outcomes. The course includes modules on the history and evolution of the field, stakeholder roles, project evaluation using NPV and other techniques, portfolio construction, and impact measurement. The course culminates in a final team project and expert panel presentation, with a focus on real-world applications and career exploration.
As impact investing further embeds into the mainstream, Impact Measurement and Management (IMM) is its key differentiator, helping impact investors understand a company’s intention to create positive outcomes and impacts and the evidence it uses to demonstrate whether (“if”) the impact, value, or benefit is indeed being created, and importantly, in what ways (“how”) it is improving the lives of concerned stakeholders and the environment. This course reflects decades of progress by hundreds of organizations, agencies, institutions, thought leaders, and companies in every sector across the globe leading to the convergence and harmonization of key IMM tools and frameworks. Levering SIPA’s vast network, students will hear from many of these pioneers throughout the course. Understanding how to identify what to measure and how to measure and manage impact across space and time is critical to ensuring businesses and investors achieve their goals and make decisions that address the world’s most pressing social and environmental challenges. We will approach IMM through the entrepreneur/business perspective while understanding that understanding the investor perspective is key to harness impact finance. The goal of this course is to equip students with knowledge of the most valuable and widely accepted methods, tools, and best practices in the field and through applied practice, develop these skills as IMM practitioners with a critical lens and a systems-level understanding of impact measurement for ventures seeking investment and investors seeking opportunities.
The social, environmental, and governance challenges of the 21st century represent both companies’ greatest risks and opportunities. While many investors, from retirement plans to mutual funds, have embraced the importance of ESG in the investment process, it is critical to understand the legal obligations of fiduciary duty, the role of the fiduciary, and the changing regulatory backdrop to assess the relevance and materiality of ESG. For example, the politicization of ESG in the US has created divergent support and threats. Understanding this unique and changing landscape alongside pivotal legal challenges is critical for business and investment decisions. In this course, students will learn about the legal obligations of fiduciary duty, its core principles, and whether and how ESG investing intersects with fiduciary duty. Furthermore, we will discuss the financial risks and rewards of ESG as important data points in the duty of care, as well as the role of disclosure and regulators within the US and beyond. While the course will largely be taught from the perspective of the US investment experience, we will compare trends in the global market.
This course is not a traditional business law survey class. This course is an application oriented class that provides the business professional with an understanding of certain critical legal concepts that are an integral part of the decision-making process for a business enterprise to operate effectively in the United States. The purpose of this course is to provide the student with a framework that will enable the student to identify legal issues that arise in a variety circumstances during the life cycle" of the business enterprise beginning with the formation of the business enterprise through the dissolution of the business enterprise through sale or bankruptcy. This course will focus primarily on the legal regime in the United States, although the laws of other jurisdictions will be noted where appropriate. The course is highly interactive - legal principles will be imparted as students seek to identify legal issues arising in actual business situations. Daily student class participation is a significant element of the course and will account for 30% of the student grade. "
The Sustainability Reporting course explores the ever-evolving global Sustainability and ESG reporting environment and the standards and frameworks that are being used by companies to report on their sustainability related performance. Environmental, Social, and Governance Reporting (“ESG”) also referred to in parts as Corporate Responsibility /Accountability Reporting. The course explores the market drivers that generate the demand for sustainability reporting by companies, key areas of focus for investors and other capital providers, regulatory activities and the intersection of sustainability reporting with traditional corporate financial reporting.
Branding has become a hot topic. Many companies realize that they need to understand the financial value of their corporate brand and its products; manage brands strategically; and deliver implementations to customers that are relevant, differentiated and powerful to build an emotional bond and loyalty.This course shows you how this can be done. It familiarizes you with best practices in branding, from iPod and the launch of the Dove Campaign for Real Beauty to successful branding initiatives in financial, pharmaceutical, consumer goods, entertainment and a wide range of other companies.We will focus on three topics: brand strategy and valuation; visual identity and experiential branding; and organizational branding issues. You will be asked to complete a couple of individual exercises and homeworks during the course and be part of a final group project. No midterm. No final.The course is unique in many ways. First, it will be fun. Second, just like the topic itself, you will learn how to combine analytical and strategic thinking with creative development of ideas and implementations. You will be exposed to lots of cases of successful and some unsuccessful branding campaigns so that you learn what to do and what not to do in your own job. You will learn about frameworks and concepts and be equipped with methodologies and tools to manage a branding project. You will meet people from the branding industry, both from within companies and from external service suppliers, such as corporate identity firms, packaging designers, advertising firms and brand agencies. Finally, you will be participating in a group project that will bring it all together, focusing on a specific company of your choice.Hope to see you in the fall. If you would like additional information on my own brand, check out www.MeetSchmitt.com."
The objectives of this course are to learn some key lessons about starting and running an entrepreneurial company, and to learn about the state of entrepreneurship in South Africa. The essence of the course will be our guest speakers, through whom we will learn not only about their personal experiences and lessons, but about entrepreneurship in general. Our guest speakers will be South African entrepreneurs from a wide variety of business sizes and backgrounds. In addition, we will have guest speakers from the local government and the leading business school. There will be a hands on project to be done with local South African entrepreneurs that will require preparation before leaving for Cape Town and a report to follow afterward.
-
The course explores the relationship between policymakers and key actors in capital markets. Specifically, it examines the ways in which corporates and investors influence policymaking around climate and natural capital and identifies untapped opportunities for positive intervention by investors and corporates.
A seminar on the contemporary history and practice of economic statecraft. The course focuses on how the United States and other countries weaponize economic, financial, and technological interdependence to advance strategic objectives. Topics include economic sanctions and restrictions on trade and investment. Case studies include efforts to use economic statecraft to curb Iran’s nuclear program, counter Russia’s aggression in Ukraine, and check China’s drive for technological supremacy. The course also explores how the rise of digital currencies, the rapid advance of artificial intelligence, and a fragmenting global economy are reshaping the landscape of geoeconomic competition.
Enrollment in this course is restricted to students who have officially declared the IFEP concentration, as reflected in their Stellic profile. If space allows, enrollment may be extended to additional students at a later date.
The Sustainable Investing Research Consulting Project provides an action-based learning experience to students interested in sustainable investing, covering both sustainable investing in the financial sector (impact investing and sustainable finance) and the real economy (for-profit and non-profit organizations). For example, students will learn about the opportunities, challenges, and limitations faced by sustainable and impact investors to finance a more sustainable world. Moreover, they will learn how (for-profit and non-profit) organizations develop innovative products and services that help mitigate grand challenges, such as climate change, biodiversity loss, social inequality, poverty, etc., and enable them to grow their business and sustain their competitive advantage over time.
Throughout the semester, students will work on an actual sustainable investing research consulting project for a client from across the world. They will (e-)meet with the client on a regular basis, discuss their progress, obtain feedback, and present their recommendation to the client. Furthermore, students will conduct research and interviews to learn about the broader business environment and institutional context (including cultural, political, economic, and social factors) to better understand the opportunities and challenges the clients face.
This course is ideal for students interested in pursuing careers in sustainable finance, impact investing, ESG, corporate sustainability, social entrepreneurship, and sustainable development.
The Sustainable Investing Research Consulting course offers consulting projects from around the world, covering a broad range of topics in sustainable investing. Clients include start-ups and established firms, non-profit and for-profit organizations, and clients from the finance and investing world. For more information on client projects and the student experiences, please see the SIRI website:
https://siri.sipa.columbia.edu/news
Registration in this course is instructor-managed. Students must join the course waitlist in Vergil during their registration appointment and submit the following application to be considered for enrollment:
https://forms.gle/XQNhfryMhGUszkZB6
.
This course will cover practical time series forecasting techniques and consists of two parts. The first part focuses on the Box-Jenkins approach (ARIMA), including identification (selection) of the appropriate model, estimation of its parameters, and diagnostic checking of model adequacy. The second part of the course is on nonlinear models for time series, with emphasis on conditional volatility and ARCH models. By the end of the course, you will be able to apply these techniques to actual data, primarily financial and economic time series.
Enrollment in this course is restricted to students who have officially declared the IFEP concentration, as reflected in their Stellic profile. If space allows, enrollment may be extended to additional students at a later date.
This highly participatory course equips students with the tools and frameworks to negotiate effectively, resolve conflict, and build consensus in public and international affairs contexts. Through simulations, students learn to navigate a range of scenarios, including environmental disputes, diplomatic negotiations, and organizational conflicts, using both distributive and interest-based strategies. Core topics include preparation and strategy, cross-cultural communication, power dynamics, consensus building, and coalition management. Students will also explore measures of negotiation success and practice applying concepts to real-world challenges. The course emphasizes experiential learning, reflective writing, and practical skill-building to prepare students for high-stakes negotiations in diverse professional settings.
This seminar critically examines the evolution and current trajectory of Russian security policy, with particular attention to the ongoing war in Ukraine and its broad strategic implications. The course explores the political, historical, and structural factors that shape Russia’s national security outlook, as well as its use of military force, energy policy, diplomacy, and information operations to advance its interests. The course discusses Russia’s relations with the United States, Europe, China, and the Global South; the role of nuclear strategy and arms control; and lessons from recent military interventions. Readings and case studies are regularly updated to reflect the rapidly changing geopolitical landscape.
The seminar explores how political and legal philosophers, as well as leaders of political movements and established states, envision international order. It asks and critically assesses how they imagine international politics
is
governed and how it
should be
governed.
It begins with a reexamination of major Northern/Western traditions in international jurisprudence and political theory as seen through the eyes of classical and modern political leaders and philosophers. It covers Realism, Liberalism, Socialism, and Fascism. It then broadens the lens to include thinkers from the global South, including Nehru, Senghor, and Biko, and explores how they have addressed the challenges of post-colonialism. In considering their international orders, we will discuss their insights into the connections among issues of order and justice, identity and legitimacy, peace and war, cooperation and conflict, intervention and independence and international equality and inequality. We conclude with a discussion of Cosmopolitanism and Rawls’
Law of Peoples
.