IFEP: International Economic Policy Focus Area

The International Economic Policy focus area prepares students for careers related to international trade or international monetary policy.

Core Courses

1. Students must complete the following courses (12 points):
Points
INAF U6017International Trade3
INAF U6018International Finance Monetary Theory3
INAF U6820Theory of International Political Economy3
SIPA U6501Quantitative Analysis II for International Public Affairs3
or POLS GU4712 Analysis of Political Data
2. Students must also select one of the following Economic Policy Elective Courses (3 points):
Points
INAF U6016Cost-Benefit Analysis3
INAF U6020The Political Economy of the Euro Area Crisis1.5
INAF U6021European Banking Post Crisis3
INAF U6022Economics of Finance3
INAF U6039International Banking3
INAF U6045International Capital Markets3
INAF U6058Public Finance Debt Management3
INAF U6090Tax Policy: Economics Law3
INAF U6091International Tax: An Introduction to Income Taxation of the Multinational Business: The U.S. Approach1.5
INAF U6095Financial Regulation3
INAF U6127BRICS Beyond - How Rising Powers Are Reshaping the World3
INAF U6301Corporate Finance3
INAF U6355Globalization3
INAF U6359Global Economic Governance3
INAF U6362Global Collective Action3
INAF U6606Topics in Macroeconomics3
INAF U6636Banking in Brazil, a Comparative Examination3
INAF U6672Political Economy of Pakistan: State, Society, and Economy3
INAF U6758Shaping International Economic Policy: Southeast Asia Perspectives3
INAF U6772Global Inequality3
INAF U6775Indian Economy in Transition3
INAF U8085Topics in Corporate Finance3
INAF U8099Emerging Market Investment Climate3
INAF U8145Advanced Economic Development for International Affairs3
INAF U8210Introduction to Political Risk Analysis1.5
INAF U8211Political Risk Analysis and Communication1.5
INAF U8380Managing the Global Corporation3
INAF U8454Investment Strategies in Developing Countries3
INAF U8621US-China Negotiation Workshop3
INAF U8675Emerging Capital Markets: Theory Practice3
INAF U8682Emerging Financial Markets3
INAF U8689Global Financial Services in the 21st Century3
REGN U6300The Economics of European Integration3
REGN U6415Financial Issues in Latin America3
REGN U8090The Transatlantic Economy3
REGN U8600China's New Marketplace3
PUAF U6033Decision Models Management3
PUAF U8244Municipal Finance in the U.S.3
SIPA U6200Accounting for International Public Affairs3
Non-SIPA Courses
ECON GU4301Economic Growth and Development3
ECON GR6903Theory of International Trade3
ECON GR69043
ECON G6908Global Economic Policy3
LAW L6293Antitrust Trade Regulation3
LAW L6382International Finance: Law, Money and Banking in Global Economy0
LAW L6488Law of the WTO2
LAW L8031Foreign Direct Investment and Public Policy2
LAW L9069Law and Economics.2
LAW L9214WTO Law2

All students are encouraged to discuss their proposed schedule with their advisor.

Year 1
FallPointsSpringPoints
Core: Conceptual Foundations (MIA) Politics of Policy Making (MPA)14SIPA U6401 or U640013
INAF U68203SIPA U65013
SIPA U40400.5Core: Management Course or Financial Management Course3
SIPA U6400 or U640113Specialization Course 1 3
SIPA U65003Elective3
 13.5 15
Year 2
FallPointsSpringPoints
Elective 3INAF U8682 or U60453
INAF U60173Core: Capstone Workshop 3
Core: Management Course or Financial Management Course3Specialization Course 3 3
Specialization Course 2 3Internship Registration (Optional) 1.5, 3
INAF U6018 (Pre-requisite SIPA U6401; also offered in spring)3Elective 3
 15 13.5-15
Total Points: 57-58.5
1

 Courses must be taken in the semester listed.

Year 1

Foreign Language - For MIA students and EPD concentrators who need to take language courses to fulfill the degree/concentration requirement, your schedule may need to be adjusted accordingly.

Year 2

Core- MIA students are required to take one Interstate Relations course.

IFEP - Economic Policy Track Courses

INAF U6018 International Finance & Monetary Theory. 3 Points.

Category: EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track, IFEP: International Finance Track, APEA
IFEP students receive registration priority; Pre-req: SIPA U6401

This is a "methods" course meant to provide students with the analytic tools necessary to think through "real life" international economic policy situations. The class is primarily meant for those interested in working at international financial institutions, the foreign-service, Wall Street, or the financial press. Lectures will, in part, be fairly rigorous though, if the student has taken first year economics, knows basic algebra, and (most importantly) can navigate graphs, he/she will be able to handle the material fairly easily. While theory will at times dominate, its policy relevance will be illustrated through i) l0-minute discussions at the beginning of every class on topical issues; ii) continuous references to recent economic/market episodes meant to illustrate the theoretical material; iii) reading short pieces of Wall Street research that cover timely market topics; and iv) the term paper that will be graded on how well theory and policy are integrated.  In terms of topics, the first half of the semester will develop an analytic framework that thinks though the concept of the "exchange rate" in terms of its (short and long term) determinants as well as the interaction between the exchange rate and macro variables such as growth, inflation, and monetary policy.  The second half of the semester we will investigate individual themes including exchange rate regimes; BoP crises and contagion; global imbalances and the savings glut; the role of FX in "inflation targeting" regimes; and capital markets and emerging markets finance.

Term Section Call Number Instructor Times/Location
Spring 2017 001 22496 Daniel Waldman M 6:10pm - 8:00pm
403 International Affairs Bldg
Spring 2017 R01 81755 W 6:10pm - 8:00pm
404 International Affairs Bldg

INAF U6017 International Trade. 3 Points.

Category: EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track, APEA
Pre-req: SIPA U6400

The course has two dimensions: theory and policy. In the former, the fundamental models of international trade theory will be presented. Using these models we will try to understand why countries specialize and trade, what determines the pattern of trade (i.e., which country will export which good), and how trade affects relative prices, welfare, and income distribution within a country. The second part of the course deals with issues concerning trade policy.  We will compare the effects of and rationale behind the usage of various policy instruments such as tariffs, subsidies, quotas, etc. The political economy of trade policy and trade policy in developing countries will also be covered. Additional topics may be included at a later stage if time permits.

Term Section Call Number Instructor Times/Location
Spring 2017 001 17897 Pravin Krishna M 9:00am - 10:50am
411 International Affairs Bldg
Spring 2017 R01 14279 F 11:00am - 12:50pm
405 International Affairs Bldg

INAF U6820 Theory of International Political Economy. 3 Points.

Category: MIA Core: Interstate Relations, EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track

This course serves as an introduction to the politics of international economic relations. We examine the history and institutions of the international political economy and the theories that seek to explain them as well as analyze several political economy issues at once classic and contemporary, such as the sources of economic growth, the origins and consequences of globalization, and causes of and appropriate policy responses to income inequality. In addition to sampling contemporary writings in the field, we read several classic works, especially on theoretical approaches. Students need not have an extensive background in international economics to complete this course satisfactorily, but those not familiar with basic economic principles will find several sections of the class very challenging.

SIPA U6501 Quantitative Analysis II for International & Public Affairs. 3 Points.

Category: MIA, MPA, MIA/MPA Core: Quantitative Analysis, IFEP, IFEP: Economic Policy Track, APEA, Management

This course is the second semester in the SIPA statistics sequence. Students conduct a major research project, which will serve as an important vehicle for learning about the process and challenges of doing applied empirical research, over the course of the semester. The project requires formulating a research question, developing testable hypotheses, gathering quantitative data, exploring and analyzing data using appropriate quantitative techniques, writing an empirical research paper, proposing policy recommendations, and presenting findings and analyses.

Term Section Call Number Instructor Times/Location
Spring 2017 001 22146 Alan Yang T 11:00am - 12:50pm
405 International Affairs Bldg
Spring 2017 002 26496 Alan Yang T 2:10pm - 4:00pm
405 International Affairs Bldg
Spring 2017 003 24779 Harold Stolper M 11:00am - 12:50pm
413 International Affairs Bldg
Spring 2017 004 81754 Harold Stolper M 2:10pm - 4:00pm
413 International Affairs Bldg
Spring 2017 R01 85941 Th 4:10pm - 6:00pm
510a International Affairs Bldg
Spring 2017 R01 85941 W 8:10pm - 10:00pm
510a International Affairs Bldg
Spring 2017 R02 13281 Th F 11:00am - 12:50pm
510a International Affairs Bldg
Spring 2017 R03 11848 F 2:10pm - 4:00pm
510a International Affairs Bldg
Spring 2017 R03 11848 Th 9:00am - 10:50am
510a International Affairs Bldg
Spring 2017 R04 13446 T 11:00am - 12:50pm
510a International Affairs Bldg
Spring 2017 R04 13446 F 9:00am - 10:50am
510a International Affairs Bldg

INAF U6016 Cost-Benefit Analysis. 3 Points.

Category: EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track, USP, USP:Urban, APEA, Management

Prerequisites: SIPA U4200 or SIPA U6400 or SIPA U6401

This course aims to provide an introduction to cost-benefit analysis and the economic evaluation of government or development programs, projects and policies. The course consists of two parts: theory/methodology in the first half of the semester and application of the learned concepts through an analysis of various case studies in the second half. Case studies will cover the full range of possible applications of CBA -from early education, social policy, health, urban planning, transportation and energy to environmental regulations. Case studies will cover both the US and developing country contexts. In the second half of the semester students will be expected to apply what they have learned by carrying out a cost-benefit analysis on a topic of their choice. The project is expected to include all components of a professional CBA - description of policy or program scenarios to be evaluated, compilation and monetization of the main costs and benefits, development of an Excel model including discounting and sensitivity analysis.

Term Section Call Number Instructor Times/Location
Spring 2017 001 88029 Eva Weissman M 6:10pm - 8:00pm
404 International Affairs Bldg
Spring 2017 R01 93631 W 4:10pm - 6:00pm
404 International Affairs Bldg
Spring 2017 R01 93631 M 4:10pm - 6:00pm
411 International Affairs Bldg

INAF U6020 The Political Economy of the Euro Area Crisis. 1.5 Point.

Category: IFEP, IFEP: Economic Policy Track, MIA/MPA: Short Course
Pre-req: SIPA U6401; Fall 2016 Course Dates: Sept. 7 - Oct. 19

This course will explore the politics and economics of the euro area crisis. We will start by evaluating the economic costs and benefits of a common currency. A brief historical survey will provide insights as to the political and economic interests underpinning European monetary integration. We will then explore the causes of the euro area crisis and analyze the political economy of crisis management. Crisis management and subsequent institutional reforms will be evaluated in terms of both economic rationality and competing political interests. Country case studies will help us understand the economic logic of macroeconomic adjustment as well as the various bail-ins/ bail-outs. We will also evaluate the success/ failure of economic reform in the so-called periphery. Last but not least, we will explore how and why broader institutional reforms (e.g. bail-out regime, banking union) came about and whether these reforms will likely to prove successful in preventing future crises.

INAF U6021 European Banking Post Crisis. 3 Points.

Category: MIA Core: Interstate Relations, IFEP, IFEP: Economic Policy Track

This course examines the root causes, implications,  regulatory reforms and prognosis for European Union and non EU countries financial sectors following the financial and currency crisis in 2010 which initially implicated Greece, but  evolved into a larger European banking and market crisis. The course will focus on three main areas: EU and Eurozone political and economic environment; policies and politics: regulatory reforms; country specific analysis of major and minor institutions.

INAF U6022 Economics of Finance. 3 Points.

Category: MIA, MPA, MIA/MPA Core: Financial Management, EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track, IFEP: International Finance Track, APEA, Management

Finance deals with the theory of how households and firms use capital markets to allocate resources over time. The course will equip you with a solid theoretical foundation you can use to evaluate projects, investments and funding decisions. It will further acquaint you with the details of debt, equity and derivatives markets so you can apply your knowledge to practical problems

Term Section Call Number Instructor Times/Location
Spring 2017 001 60818 Richard Robb T 2:10pm - 4:00pm
403 International Affairs Bldg
Spring 2017 R01 75505 M 4:10pm - 6:00pm
404 International Affairs Bldg

INAF U6039 International Banking. 3 Points.

Category: EPD, EPD:Economic, IFEP, IFEP: International Finance Track, IFEP: Economic Policy Track
Pre-req: SIPA U6401

An overview of current issues and major trends in global banking, exploring the distinction between developed and emerging markets, and focusing on the perspectives from the different actors and constituencies in the international markets: customers, regulators, governments, rating agencies, institutional investors, multilateral agencies, and management.

Term Section Call Number Instructor Times/Location
Spring 2017 001 13279 Irene Finel-Honigman Th 2:10pm - 4:00pm
801 International Affairs Bldg

INAF U6045 International Capital Markets. 3 Points.

Category: EPD, EPD:Economic, IFEP, IFEP: International Finance Track, IFEP: Economic Policy Track, APEA

The course will acquaint you modern international capital markets. You can expect to learn a substantial amount of up-to-date detail and some useful theory. Specifically, we will survey global markets for credit, equity, foreign exchange, foreign exchange derivatives, futures, interest rate swaps, credit default swaps and asset backed securities. In each case, we will learn the highlights of payments and settlement, documentation, regulation, applications for end-users, related economic theory and pricing models. The class will cover options and asset pricing theory; however, the treatment will be informal and designed to help develop intuition. One lecture each will be devoted to international banking (with an emphasis on changing capital regulation), investment banks, and hedge funds.

Term Section Call Number Instructor Times/Location
Spring 2017 001 78746 Richard Robb T 6:10pm - 8:00pm
403 International Affairs Bldg
Spring 2017 R01 82848 F 2:10pm - 4:00pm
411 International Affairs Bldg

INAF U6058 Public Finance & Debt Management. 3 Points.

Category: IFEP: Economic Policy Track, IFEP, USP, USP:Urban, Management
Not offered during 2017-18 academic year.

Prerequisites: Students should have a working knowledge of Excel and basic quantitative concepts such as present and future value calculations.

The course is intended to enable students to understand the history and functioning of the capital and debt markets that facilitate financing on behalf of governmental units. The syllabus will cover all facets of public sector financing including the legal and financial construct and also examine at length the role of independent rating agencies in the marketplace.

INAF U6090 Tax Policy: Economics & Law. 3 Points.

Category: IFEP, IFEP: Economic Policy Track

The class will introduce students to the current research in tax policy (broadly defined) and will give them an opportunity to develop skills in reading and evaluating contemporary economic and legal research related to tax policy. Following the discussion of the fundamental tax policy questions during the first several weeks of the term, the format will shift to a series of weekly paper presentations by leading scholars from around the country, both economists and lawyers. The second part of the course (six weeks) will meet together with the parallel class in the law school.

INAF U6091 International Tax: An Introduction to Income Taxation of the Multinational Business: The U.S. Approach. 1.5 Point.

Category: MIA/MPA: Short Course, IFEP, IFEP: Economic Policy Track
Not offered during 2017-18 academic year.

The course will provide an overview of some core concepts of the taxation of income and, using the U.S. income tax system as an example, focus on the challenges modern tax systems face in balancing fairness, competitiveness and revenue when taxing the income of multinational businesses. The course will address the current controversy surrounding "base erosion" and "earnings stripping." 

INAF U6127 BRICS & Beyond - How Rising Powers Are Reshaping the World. 3 Points.

Category: EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track, IFEP: International Finance Track

Prerequisites: Students are expected to have basic knowledge in Macroeconomics and Finance.

Through a mix of analytical overview and practical cases, the class will discuss, from a practitioner’s point of view the rise of the BRICs (Brazil, Russia, India and China); the strengths and weaknesses of each of the BRICs and will do a comparative analysis of the four countries; several fundamental themes linked to the rise of BRIC: expansion of the middle class; pressures on commodities; development of capital and investment markets; research and innovation; how countries and international companies position themselves vis‐à‐vis the rise of BRIC; the role of BRICs in the world governance. The goals of this class are to provide students with a solid understanding of the challenges and opportunities arising from the rise of the BRICs and to give them the tools that will help them understand the dynamics at work.

Term Section Call Number Instructor Times/Location
Spring 2017 001 89279 Christian Deseglise, Marcos Troyjo T 6:10pm - 8:00pm
501b International Affairs Bldg

INAF U6301 Corporate Finance. 3 Points.

Category: EPD, EPD:Economic, EE, EE: GEMP, IFEP, IFEP: International Finance Track, IFEP: Economic Policy Track, Management

Prerequisites: SIPA U6200 or PEPM U6223 or EMPA U6010

Corporate finance is an introductory finance course; it is a core course for students taking the International Finance and Policy (IFP) concentration. The course is designed to cover those areas of business finance which are important for all managers, whether they specialize in finance or not.  

Term Section Call Number Instructor Times/Location
Spring 2017 001 76297 Gailen Hite T Th 4:15pm - 5:45pm
413 International Affairs Bldg
Spring 2017 002 77948 Deborah McLean T Th 9:15am - 10:45am
404 International Affairs Bldg
Spring 2017 003 86746 Deborah McLean T Th 2:15pm - 3:45pm
413 International Affairs Bldg
Spring 2017 R01 11146 F 11:00am - 12:50pm
411 International Affairs Bldg
Spring 2017 R02 12446 F 11:00am - 12:50pm
403 International Affairs Bldg
Spring 2017 R03 13348 F 2:10pm - 4:00pm
403 International Affairs Bldg

INAF U6355 Globalization. 3 Points.

Category: MIA Core: Interstate Relations, IFEP, IFEP: Economic Policy Track, APEA
Not offered during 2017-18 academic year.

Prerequisites: SIPA U4201 OR SIPA U6401

Globalization has become something of a fad, being credited for everything from the collapse of communism to El Nino to distress in the capital markets.  But what is generally agreed upon is that the integration of markets for goods, services, and capital has created both new opportunities and challenges for firms, governments and international organizations.  The tremendous opportunities lie in the potential to grow new markets, transfer ideas and technology, and foster cooperation across the disparate corners of the globe.  The challenges lie in how to manage the conflicts that inevitably arise over the distribution of costs and benefits that a global economy entails. The objective of this course is to highlight how U.S. domestic interests and institutions have met the demands of globalization.  While globalization by definition is multi-faceted, this course focuses on one key dimension of globalization, international trade policy.  Moreover, the course is inter-disciplinary, as it draws on analytical frameworks developed in economics, political science, and business to illustrate the linkages and tensions that firms and governments face in the new global context. The course is divided into three parts.  The first part focuses on the basics of globalization: what is it? what are the benefits? and what are its costs?  The second part of the course focuses on how the U.S. trade policy making process works, and how domestic interests and institutions respond to the demands of globalization: who wins and loses, how do firms formulate effective market and non-market strategies, and how do the institutions of governance aggregate these demands?  The third section of the course applies this logic of policy making to recent and ongoing issues in globalization and international trade.

INAF U6359 Global Economic Governance. 3 Points.

Category: MIA Core: Interstate Relations, EPD, EPD:Economic, IFEP: Economic Policy Track, IFEP, IO

This course aims at familiarizing students with major issues surrounding global economic governance and its effects on developing countries. It will start with two general lectures that will deal with the objectives of international cooperation, the historical evolution of the current governance and typologies of the different rules, organization and governance structures that have been created at varied times. It will then deal in detail with major topics in the broad agenda of global economic governance, exploring both issues that are the subject of current debates as well as the institutional questions involved. "Global economic governance" is understood in a broad sense, to refer both to global and regional frameworks, as well as those rules of international transactions that have been left to bilateral agreements or are under the domain of national sovereignty. "Economic" is also understood in a broad sense, to include also social and environmental issues.

INAF U6362 Global Collective Action. 3 Points.

Category: MIA Core: Interstate Relations, EPD, EPD:Sustainable, IFEP, IFEP: Economic Policy Track, IO
Not offered during 2017-18 academic year.

Prerequisites: SIPA U4200 or SIPA U6400

This course develops a framework in which the role of institutions emerges endogenously. The course then applies this to a large number of cases, from climate change to nuclear non-proliferation; from big science research to over-fishing; from war to peacekeeping; from disease eradication to choosing technical standards. The course shows what globalization really means. It also reveals the relationship between global (and regional) collective action and international development.  Applying the framework requires tools. Economics enables us to express the consequences of different outcomes in comparable units. It also exposes fundamental incentives. Game theory makes us consider who the players are, what their choices are, and the nature of their interaction. Game theory explains why institutions (like treaties) exist and what they are and are not able to do.

INAF U6636 Banking in Brazil, a Comparative Examination. 3 Points.

Category: IFEP, IFEP: Economic Policy Track, IFEP: International Finance Track, Regional, EPD, EPD:Economic

This course provides students the tools to analyze the workings and efficacy of emerging economies' financial systems as a pillar for sustained economic development. We begin by studying the basic characteristics of six banking systems (Brazil, Mexico, India, China, Indonesia and Turkey) and then proceed to examine the efficacy of a chosen one (Brazil) vis-à-vis the others. Key aspects examined include the roles of public sector and foreign banks, bank credit availability and systemic resilience, and depth of domestic fixed income and equity markets.

Term Section Call Number Instructor Times/Location
Spring 2017 001 72546 Fernando Sotelino M 4:10pm - 6:00pm
418 International Affairs Bldg

INAF U6672 Political Economy of Pakistan: State, Society, and Economy. 3 Points.

Category: IFEP, IFEP: Economic Policy Track, Regional
Not offered during 2017-18 academic year.

This seminar course will try and provide a broad historical review of the nature of changes which have taken place in Pakistan and have affected many of the impressions which are now part of conventional wisdom about Pakistan. The emphasis of the course will be on social and structural change and transformation, of society, the state and the economy. The early half of the course will familiarise students through some chronology of Pakistan, looking at events and processes in different eras, in a political economy framework, followed by a deeper analysis of key themes over time.

INAF U6772 Global Inequality. 3 Points.

Category: EPD, EPD:Economic, EPD:Political, USP:Social, IFEP, IFEP: Economic Policy Track

This course examines persistence and change in the global distribution of income, both within and across countries. We will consider philosophical arguments about inequality and whether or not it is a problem. Then we will review and discuss the measurement and positive economics of inequality. Finally, we will discuss political consequences of and policy responses to increases in inequality.

Term Section Call Number Instructor Times/Location
Spring 2017 001 85897 Suresh Naidu Th 11:00am - 12:50pm
409 International Affairs Bldg

INAF U6775 Indian Economy in Transition. 3 Points.

Category: EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track, Regional

This course will be devoted to an analytic study of the transformation. The bulk of the course will be devoted to understanding the reforms that are under way or must be undertaken to accelerate growth and poverty reduction. On the macroeconomic front, we will discuss the issues related to fiscal deficit, public debt and the likelihood of a macroeconomic crisis. Special attention will be paid to the external sector reforms including trade liberalization, foreign investment liberalization, capital account convertibility, preferential trade arrangements and multilateral trade negotiations. Among domestic reforms, we will discuss the reform of the tax system, subsidies, agriculture, product and factor markets, infrastructure and social sectors. Cautionary Note: This is a new course whose content will evolve as the semester progresses. Therefore, the description should be viewed as tentative.

Term Section Call Number Instructor Times/Location
Spring 2017 001 88646 Jagdish Bhagwati, Pravin Krishna M 2:10pm - 4:00pm
402 International Affairs Bldg

INAF U8085 Topics in Corporate Finance. 3 Points.

Category: IFEP, IFEP: Economic Policy Track

Prerequisites: Pre-requisites: (INAF U6301 or INAF U6022 or INAF U6045) and SIPA U6200

This course extends the valuation techniques introduced in INAF U6301 by considering several issues in corporate finance that are of particular interest to international affairs students: leverage and valuation techniques: WACC, APV and FTE; the international cost of capital and international capital budgeting; the analysis of real options. The course will combine lecture time and in-class case discussions. The goal of the course is to provide students with an understanding of both sound theoretical principles of valuation and finance and the practical  environment in which financial decisions are made.

INAF U8099 Emerging Market Investment Climate. 3 Points.

Category: MIA Core: Interstate Relations, EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track, IFEP: International Finance Track
Pre-reqs: SIPA U6401 or PEPM U6401

Want to learn about the issues and policies that are particularly relevant for the growth of the private sector in emerging markets? Want to discuss these with guest speakers from international organizations? Want to produce a report identifying emerging market vulnerability to economic troubles? Have you taken a course on macroeconomics? Then this course is for you.

,

As a former World Bank country economist I will share with you my work experiences and, while reviewing some basic macroeconomic principles and discussing case studies, I will help you produce a macro-financial report on a particular emerging market economy similar to those produced by financial institutions and international organizations do (e.g., International Monetary Funds surveillance country reports or Article IV reports).

INAF U8145 Advanced Economic Development for International Affairs. 3 Points.

Category: EPD, EPD:Core, IFEP, IFEP: Economic Policy Track, USP, USP:Urban
Pre-req: SIPA U6400

This is an advanced course in development economics, designed for second-year SIPA students. The course will cover both seminar papers and recent research on development microeconomics. The goal is to introduce students to the literature and familiarize them with the main research methods and questions in the field. After an introduction on the big macro questions and motivating facts, including some quantitative tools and a discussion on poverty traps, the course will focus on key topics in the microeconomics of development. We will discuss the different hypotheses that can explain low investment levels in human capital (nutrition, health, education, entrepreneurship programs) and on agricultural inputs. Then, we will focus on the most recent developments related to microfinance (credits, savings and insurance). The course will also include papers at the intersection between behavioral economics and development, with focus on self-control problems. Coursework includes empirical exercises, requiring some programming in Stata. Material discussed during class presumes knowledge of calculus and quantitative methods.

INAF U8210 Introduction to Political Risk Analysis. 1.5 Point.

Category: MIA/MPA: Short Course, EPD, EPD:Economic, EPD:Political, IFEP, IFEP: Economic Policy Track
Fall 2016 Course Dates: Sept. 12 - Oct. 24

Prerequisites: Knowledge of economics is expected and will be necessary for understanding and participating in classroom discussion.

This course will focus on building a theoretical and empirical foundation to analyze political risk, examine the value of having a structural view for identifying and monitoring political risks, and apply these skills to current, real-world issues. The course will explore how political science theory, complemented by other fields, especially economics and political economy, can serve as a basis to study how politics influences a variety of economic concerns including portfolio investment (financial market trading or asset allocation) and fixed investment (corporates).

INAF U8211 Political Risk Analysis and Communication. 1.5 Point.

Category: MIA/MPA: Short Course, IFEP, IFEP: Economic Policy Track, EPD, EPD:Economic
Not offered during 2017-18 academic year.

In recent years, understanding politics and government policy have become more central to investment decision making. As the relevance of political factors has become more apparent to investors, so has the general lack of comprehensive and systematic tools for evaluating political risk. This course will utilize frameworks based on contemporary, commercial/market experience, and focus on strengthening the skills necessary to deliver solid political risk analysis that is relevant for investors and policy makers. There will be considerable emphasis on preparing and communicating poliitcal forecasts. In doing so, the course will expand on the intricacies of financial markets and on how the corporate world assesses risk. This will enable students to identify how the integration of political events in traditional business risk analysis may be leveraged to complement more traditional economic indicators. The course will also delve into the distinction between political risk in emerging and developed markets, and provide an overview of scenario analysis/planning. At the end, students will be required to translate their theoretical knowledge of political risk into more systematic and in-depth country analysis across time and through several lenses. Themes will be explored on a case-study basis and class discussion will not only demand an in-depth knowledge of covered countries, but also a comparative perspective across regions and time. Students will be expected to deliver their analysis in a final presentation as well as a final paper.

INAF U8380 Managing the Global Corporation. 3 Points.

Category: IFEP, IFEP: Economic Policy Track, Management

The course will provide an overview of managing global companies from CEO and/or senior manager's perspective. The focus will be on the key decisions and trade-offs that the CEO must make. The course is built around two main themes: developing a framework for integrated decision-making and managing change in a global corporation.

Term Section Call Number Instructor Times/Location
Spring 2017 001 67546 Richard Thoman T 2:10pm - 4:00pm
418 International Affairs Bldg

INAF U8621 US-China Negotiation Workshop. 3 Points.

Category: MIA Core: Interstate Relations, IFEP, IFEP: Economic Policy Track, ICR

This course is designed to give students the practical opportunity to develop their cross-cultural teamwork and negotiating skills while learning about key contemporary issues in U.S.-China relations. It is centered around a series of exercises in which teams of students take "sides" to negotiate win-win, win-lose, or lose-lose outcomes to a number of business, economic, and geopolitical disputes between the United States and China that regularly dominate today's headlines. Classroom case studies and guest speakers augment these practical exercises by offering wisdom and lessons learned from past U.S.-China interactions. Assigned readings are designed to provide conceptual frameworks to help students integrate these lessons and apply them in practice. Specific issues covered in case studies and negotiating exercises include: Business joint ventures; WTO and intellectual property protections; Internet and media censorship; CFIUS and Chinese outbound investment; SEC-CSRS dispute over audit inspections; Proposed Bilateral Investment Treaty (BIT); Currency "manipulation"; Cybersecurity; Maritime territorial disputes; North Korea. This course requires instructor permission in order to register. Please add youself to the waitlist in SSOL and submit any required documents in order to be considered.

Term Section Call Number Instructor Times/Location
Spring 2017 001 83496 Patrick Chovanec M 11:00am - 12:50pm
324 International Affairs Bldg

INAF U8675 Emerging Capital Markets: Theory & Practice. 3 Points.

Category: MIA Core: Interstate Relations, EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track, IFEP: International Finance Track
Pre-req: SIPA U6401; IFEP students receive registration priority

Prerequisites: SIPA U6401, PEPM U6105 or EMPA U8216

The goal of this course is to teach students about the historical relationships between financial risk, capital structure and legal and policy issues in emerging markets. Our strategy will be to develop a model of how and why international capital flows to emerging market countries and to use the model to examine various topics in the history of international financing from the 1820's to the present. Students will identify patterns in investor and borrower behavior, evaluate sovereign capital structures, and analyze sovereign defaults, including the debt negotiation process during the various debt crises of the past 175 years. We will focus primarily on Latin America, emerging Asia, and Russia, although the lessons will be generalized to cover all emerging market countries.

Term Section Call Number Instructor Times/Location
Spring 2017 001 88442 Bruce Wolfson, Jorge Mariscal T 6:10pm - 8:00pm
407 International Affairs Bldg

INAF U8682 Emerging Financial Markets. 3 Points.

Category: IFEP, IFEP: Economic Policy Track, IFEP: International Finance Track
Priority given to IFEP - Finance Students

Prerequisites: SIPA U6401, PEPM U6105, or EMPA U8216

This course explores the performance of the financial systems of emerging market countries (EMs) over the past three decades, and historically, both from the standpoint of market participants and public policy makers. EMs are countries that have decided to "emerge" from a condition of financial underdevelopment (sometimes called "financial repression"). EMs engage in a combination of market reforms which include: foreign trade opening, privatization of state-owned enterprises, and the liberalization and deregulation of domestic financial systems and international capital markets. Emergence typically involves a variety of such changes, as well as related institutional changes that support those efforts (reforms of the legal and regulatory systems, the corporate laws, and the fiscal and monetary systems).   This course investigates the determinants of successful or unsuccessful emergence. Said differently, the course helps to identify factors that make emergence more or less likely to succeed. Failure of emergence often takes the form of a major financial crisis, in which the failings of the EM policy regime are brought to light. Thus, an important part of analyzing the success or failure of emergence entails the analysis of EM financial crises.

Term Section Call Number Instructor Times/Location
Spring 2017 001 86997 Charles Calomiris M W 2:10pm - 4:00pm
411 International Affairs Bldg

INAF U8689 Global Financial Services in the 21st Century. 3 Points.

Category: EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track

This course will provide a framework with which students can evaluate and understand the global financial services industry of both today and tomorrow. Specifically, the course will present an industry insider's perspectives on the (i) current and future role of the major financial service participants, (ii) key drivers influencing an industry that has always been characterized by significant change (e.g., regulatory, technology, risk, globalization, client needs and product development), and (iii) strategic challenges and opportunities facing today's financial services' CEOs post the 2008/09 financial crisis. Furthermore, this course is designed not only for students with a general interest in the financial system, but for those students thinking about a career in the private sector of financial services or the public sector of regulatory overseers.

Term Section Call Number Instructor Times/Location
Spring 2017 001 91696 Richard Goldberg Th 4:10pm - 6:00pm
411 International Affairs Bldg

INAF U6758 Shaping International Economic Policy: Southeast Asia Perspectives. 3 Points.

Category: EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track, Regional
Not offered during 2017-18 academic year.

Mari E. Pangestu is Indonesia's former Minister of Trade and of Tourism and Creative Economy. She currently is Professor of International Economics at the University of Indonesia and serves on the boards of the Centre for Strategic and International Studies, Jakarta, as well as numerous other NGO and private sector entities. This course will explore the economic policies and reforms undertaken at the national, regional and international level that have led to the economic transformation of Southeast Asia in the past few decades. Professor Pangestu will inform the course with both her perspective as an international economist and a leader in national and international policy-making.

SIPA U6200 Accounting for International & Public Affairs. 3 Points.

Category: MIA, MPA, MIA/MPA Core: Financial Management

The purpose of this course is to enable you to become an informed user of financial information.  To be properly informed you need to understand financial statements, the note disclosures and the language of accounting and financial reporting.  We will focus on the three major financial statements, (balance sheet, income statement and statement of cash flows), which companies prepare for use by management and external parties.  We will examine the underlying concepts that go into the preparation of these financial statements as well as specific accounting rules that apply when preparing financial statements.  As we gain an understanding of the financial information, we will look at approaches to analyze the financial strength and operations of an entity.  We will use actual financial statements to understand how financial information is presented.  In each area, we will contrast U.S. accounting rules (GAAP) with International Financial Reporting Standards (IFRS).

Term Section Call Number Instructor Times/Location
Spring 2017 001 28646 Norman Bartczak W 1:10pm - 4:00pm
403 International Affairs Bldg
Spring 2017 002 13280 Norman Bartczak W 6:10pm - 9:00pm
403 International Affairs Bldg
Spring 2017 R01 88279 F 2:10pm - 4:00pm
405 International Affairs Bldg
Spring 2017 R02 11779 F 4:10pm - 6:00pm
405 International Affairs Bldg

REGN U6300 The Economics of European Integration. 3 Points.

Category: IFEP: Economic Policy Track, IFEP, Regional

A policy-oriented but theory-based course on the current state of economic integration in the European Union.  Topics include: Brexit scenarios, design failures of the Eurozone and steps to a Banking Union; monetary policy of the ECB; Greek and other peripheral bailouts; macroeconomic performance, unemployment and EU labor markets; cohesion and the refugee crisis; fiscal policies and fiscal rules; tax and competition policy for high tech firms in a digital economy; EU trade policy and the future of the proposed Transatlantic Trade and Investment Partnership (TTIP).

Term Section Call Number Instructor Times/Location
Spring 2017 001 12191 Seamus O'Cleireacain Th 4:10pm - 6:00pm
409 International Affairs Bldg

REGN U6415 Financial Issues in Latin America. 3 Points.

Category: MIA Core: Interstate Relations, EPD, EPD:Economic, IFEP, IFEP: Economic Policy Track, IFEP: International Finance Track

Prerequisites: SIPA U6400 or SIPA U6401

Financial issues have been at the heart of Latin America's volatile and relatively poor economic performance. Inflation, financial crisis, defaults. Latin America has seen them all. Also, in 2014, Latin America and the Caribbean saw the fastest growth of any region in terms of new registered mobile money accounts. Bitcoins are already circulating for example in Argentina. As aspiring entrepreneurs, policymakers or staff from international organizations, students interested in performing in Latin America must understand the region's financial systems and how government's policies (including financial inclusion policies) could affect the local economy, particularly in response to unexpected external events. This is a very applied hands-on course where analytical tools typically used in international organizations and private investment companies to analyze country vulnerabilities are discussed and used. Case study discussions are a central part of the course. In this setting, LA economies are discussed vis-à-vis economies from other regions, e.g., Brazil vis á vis Korea; Argentina vis á vis Greece.  

Term Section Call Number Instructor Times/Location
Spring 2017 001 10846 Sara Calvo Th 4:10pm - 6:00pm
402b International Affairs Bldg

REGN U8090 The Transatlantic Economy. 3 Points.

Category: MIA Core: Interstate Relations, IFEP, IFEP: Economic Policy Track, APEA, IO, Regional

A course on contemporary transatlantic economic relations with particular emphasis on the US-EU dimension. Topics include: the proposed Transatlantic Trade and Investment Partnership (TTIP); implications of the UK referendum on Brexit; contrasting monetary and fiscal responses to the 2008 crisis; dollar-euro diplomacy and the international roles of the dollar and euro; European competition and MNC taxation policies toward high tech companies such as the so-called “Frightful Five” firms Amazon, Apple, Facebook, Google (Alphabet), and Microsoft; secular stagnation and disparate U.S.-EU long term growth prospects; relative macroeconomic performance and why most of Europe can’t get its unemployment levels down to U.S. levels; the economic dimension to transatlantic security arrangements

REGN U8600 China's New Marketplace. 3 Points.

Category: EPD, EPD:Economic, IFEP: Economic Policy Track, IFEP, Regional

This seminar is for students anticipating China-focused careers, shaping and responding to economic development. It is relevant both to those interested in international business and those interested in economic policy. This is an application class for 20 students, including those pursuing non-SIPA degrees. Second year students who have completed the first year economic sequence are encouraged to apply, as the course will require a strong conversance in topical economics (not econometrics). Instructor permission required for registration. Please join the waitlist is SSOL and follow instructions on the waitlist to be considered.

PUAF U6033 Decision Models & Management. 3 Points.

Category: IFEP, IFEP: Economic Policy Track, USP, USP:Urban, USP:Social, Management

This course provides an introduction to computer-based models for decision-making. The emphasis is on models that are widely used in diverse industries and functional areas, including finance, accounting, operations, and marketing. Applications will include advertising planning, revenue management, asset-liability management, environmental policy modeling, portfolio optimization, and corporate risk management, among others. The aim of the course is to help students become intelligent consumers of these methods. To this end, the course will cover the basic elements of modeling -- how to formulate a model and how to use and interpret the information a model produces. The course will attempt to instill a critical viewpoint towards decision models, recognizing that they are powerful but limited tools.The applicability and usage of computer-based models have increased dramatically in recent years, due to the extraordinary improvements in computer, information and communication technologies, including not just hardware but also model-solution techniques and user interfaces. Thirty years ago working with a model meant using an expensive mainframe computer, learning a complex programming language, and struggling to compile data by hand; the entire process was clearly marked "experts only." The rise of personal computers, friendly interfaces (such as spreadsheets), and large databases has made modeling far more accessible to managers. Information has come to be recognized as a critical resource, and models play a key role in deploying this resource, in organizing and structuring information so that it can be used productively.

Term Section Call Number Instructor Times/Location
Spring 2017 001 65946 Lucius Riccio Th 6:10pm - 8:00pm
413 International Affairs Bldg
Spring 2017 R01 12298 W 6:10pm - 8:00pm
418 International Affairs Bldg

PUAF U8244 Municipal Finance in the U.S.. 3 Points.

Category: USP, USP:Urban, USP:Social, IFEP: Economic Policy Track, IFEP, Management

This course examines key municipal finance and fiscal policy issues for government, focusing on New York City as a real-life case study.  Students will dive deeply into several aspects of municipal finance, including bread and butter topics of accounting, auditing, capital funding, and investment management.  We will also analyze current issues of economic development policy, labor relations, and pension and healthcare cost impact.  The class will be joined by guest speakers among the ranks of elected officials, top city appointees, labor leaders, and private sector professionals who will share firsthand their experience and perspectives.  The coursework will entail analysis of current news, participation in public meetings, and formulation and presentation of policy initiatives in view of projected billion-dollar budget deficits.