Course explores the increasing weight of Asia in global financial markets and its implications. It frames the discussion in the context of the globalization of financial markets, with emphasis on concepts of economic development, institutional reform of markets, and public and private market investments. Discussions and investment case studies will combine analysis of historical trends and recent data with insights from practical experience in Asian markets. Course considers China's gradual shift toward a capital market-based financial system, the potential revival of Japanese capital markets, and the development of Indian capital markets.
Asian Capital Markets
Instructors: Jean-Christophe de Swaan
Under the supervision of a faculty member, students carryout research on a directed topic and present results. Students must identify a supervising faculty member and submit a written plan for research and evaluation which must be approved by the supervising faculty member and director of graduate studies.
Instructors: Stephen E. Morris
The Chinese Economy
Institutional, theoretical and quantitative study of the Chinese economy. Topics include historical background, period of planning and political movements, economic reform, economic growth and fluctuations, macro economic policy, consumption, regional disparity, population, human capital, banking and financial system, state enterprise restructuring, foreign trade and investment, the legal system, science and education, environmental problems and policy, and the functioning and characteristics of the Chinese economy in general.
Instructors: Gregory C. Chow
Topics in Industrial Organization (Half Term)
This course covers the production-approach to market power, a framework to recover estimates of marginal cost, efficiency and markups. A key ingredient to this approach is the estimation of production functions, a vibrant literature that connects scholars across a wide range of fields, including macro, trade, development and IO. The course starts by discussing recent methods and developments in the estimation of cost and production functions, which are then used to discuss the estimation of markups using production data. The course connects distinct literatures on production function estimation, market power and pass-through.
Instructors: Jan K.S. De Loecker