Course Descriptions of Applied Economics
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AE501
Microeconomic Theory [4 credits]: The course provides a rigorous
analytical treatment of the standard microeconomic models of consumer and firm
behavior, market equilibrium, general equilibrium, and game theory, and it
prepares students for further graduate work in the theoretical and applied
fields of economics. The emphasis of the course is on methods and analytical
tools as well as the presentation of received results. The student acquires the
skills necessary to read and understand the professional literature and to
apply the theory to a wide variety of economic problems and policies.
Prerequisite: University level of Microeconomics.
AE502
Macroeconomic Analysis [4 credits]: to provide a basic analytical framework
of modern macroeconomics. It is held strongly by most of the Chinese
policymakers that active government interventions with fiscal and monetary
policies are an effective means the growth momentum of the economy. This is
basically a Keynesian approach and students will study the policy stance and
evaluate the effects of the government polices. Moreover, general equilibrium
theories of aggregate output and price level; consumption, investment and money
demand functions; monetary and fiscal policy; business cycles, and rational
expectations. Prerequisite: University level of Macroeconomics.
AE503
Econometrics [4 credits]: introduces students to multiple
regression methods for analyzing data in economics and related disciplines. The
objective of the course is for the student to learn how to conduct empirical
studies in economics and related fields. Accordingly, the emphasis of the
course is on empirical applications. The econometric theory will be introduced
when needed. Popular software for econometric analysis will be introduced
as well. Prerequisite: knowledge of algebra, basic probability and statistics.
Prerequisite: University level of Econometrics.
AE504
Mathematical Economics [2 credits]: This is a general graduate level math
course for the study of Economics. Topics include: Matrix algebra, differential
calculus, optimization problems, and dynamics analysis.
AE510
International Trade Theory and Policy [3 credits]: Classical
international trade theory; neoclassical international trade theory and its
variants; intra-industry trade and strategic trade policy; tariffs and
non-tariff barriers; effects of economic integration; FDI; and international
trade of services. The course also introduces the business environment of
AE511
Import and Export Management [2 credits]: Organization of Chinese trading
corporations and international trading customs and practices will be discussed.
Emphasis is contractual arrangements in international trade including rights
and obligations of the parties concerned and execution of contracts.
AE512
Seminar in
AE513
International Finance [2 credits]: current account and employment; the
dependent economy model; money any payment adjustment; asset market and
external adjustment; imperfect asset substitutability; models of exchange rate
determination; and interdependence.
AE514
Selected Topics in International Trade [2 credits]: This course is
concerned with the economic analysis of selected topics in international trade
and foreign direct investment. The focus is on the application of trade theory and
evaluation of empirical evidence. Prerequisites for this course include a
background in microeconomics, elementary mathematics and statistics.
Fundamental knowledge of international trade theory and policy will also be
essential.
AE515
International Politics of
AE516
Selected Topics in WTO and
AE520
Corporate Finance [3 credits]: This advanced study of corporate
financial analysis and planning includes capital budgeting, cost of capital,
and capital structure and valuation. Selected topics that may be covered are
mergers and acquisition, IPO, financial distress and reorganization, etc. A
combination of lectures and case-study discussion is used to illustrate theories
and techniques helpful in financial analysis.
AE521
Investment Analysis [2 credits]: This course is mainly concerned with
the c h a racteristics and analysis of individual
securities, as well as the theory and practice of optimally combining securities
into portfolio. After a basic introduction to the investment environment and
security markets, we will begin with a detailed discussion of common stock
valuation and fixed-income security valuation. Here we first discuss
traditional methods for the valuation of common stock, the c h a racteristics and role of dividends and earnings, and some
recent developments in earnings-based equity valuation. We then introduce the
methods for the valuation of fixed-income security. The next part of this
course covers the theory of modern portfolio analysis (MPT). In the
presentation of MPT will show that the c h a racteristics
of portfolios are significantly different from those
of individual securities from which they are formed. After learning how to
compute sets of efficient portfolios, we will conclude with a discussion of
equilibrium in capital markets, that is, "Capital Asset Pricing
Models" (CAPM) and "Arbitrage Pricing Theory" (APT).
AE522
Financial Economics [3 credits]: The focus of this course is on given
economic interpretation for financial issues. The course covers the principles
of asset pricing, such as efficient market hypothesis, the measure of risk
aversion, risk diversifying, conditional expectation, stochastic
discount factor model. The course will also cover some most important empirical
test results on multifactor asset pricing models, ARCH and GARCH models,
technical analysis, behavioral finance. If time allowed, we will introduce the
empirical results about
AE523
AE524
Topics in Corporate Financial Policy [2 credits]: Aspects of
corporate financial policies of typical Chinese firms will be examined. Topics
include: Capital budgeting; cash and working capital management; derivatives
bankruptcy; liquidation; and mergers and acquisitions.
AE525
Topics in Empirical Finance [2 credits]: An intermediate level course in
empirical asset pricing. The focus will be on learning the basic ideas of
various asset pricing models and how to implement recently developed tools to
test these models. The course covers capital asset pricing model (CAPM), CCAPM,
ICCAPM, APT, efficient market hypothesis, return predictability, event studies,
Equity premium puzzles etc. Prerequisites: AE502 Macroeconomics and
AE503Econometrics
AE526
Public Finance [2 credits]: The objective of the course is to
provide a basic theoretical framework of modern public finance so that students
could use these theories to interpret major Chinese fiscal issues. Government
plays pervasive roles in modern economies. With powerful tools, government uses
all kinds of policies to bear upon the economic life of every individual and
business. Why does government interfere with economy? First, market efficiency
is valid only under certain assumptions which are not always satisfied in
practice. That is "market failures". Second, although efficiency in
resource allocation is important, but efficiency does not insure that the
distribution of economic well-being or welfare among the members of society is
equitable or justice. We will discuss: Public Expenditures. Include:
Provide public goods; Control of externalities. Protect the poor; "Social
insurance" policies Taxation. Include: Equality and efficiency in
taxation; Real burden of taxation; Tax incidence.
AE 527
Topics in Financial derivatives [2 credits]: the focus of
this course is on derivative securities, i.e., securities whose payoffs depend
on the values of the other "underlying" securities. The two major
instruments are options and futures. We will study the organization of their
markets, the mechanics of trading, trading strategies and, most importantly,
pricing models for such securities.
AE530
Industrial Organization [3 credits]: This course studies the behavior of
firms and the structure of industries and markets. Topics covered include
traditional issues such as monopoly, oligopolistic competition, advertising,
branding and product differentiation, vertical integration and vertical
restraints, collusive behavior, entry and accommodation, price discrimination,
R & D, as well as applications in closely related field such as antitrust
legislation, competition policy and economic regulation. Although the topics
largely remain unchanged compared with ones in a traditional IO text, the
content is much more updated with recent literature and new consensus arisen.
The wave of deregulation in public utility sectors across the globe in recent
decades boosts the heated debate among economists. These will be
illuminated through in-depth analysis of particular industries and cases. Overall,
the student should gain a theoretical understanding of the issues using a
game-theoretic approach as well as the ability to analyze and interpret current
policy issues.
AE531
Topics in
AE532
Topics on Chinese Logistics [2 credits]: This course provides students with
a general knowledge on various aspects of Chinese logistics. Based on recent
research on the logistics industry and Chinese logistics market, this module
emphasizes the following topics: the Chinese logistics system, the Chinese
logistics market, the government policies towards logistics industry, logistics
outsourcing in
AE533
Games and Strategies [2 credits]: This course is an introduction to game
theory. Game theory consists of a coherent set of concepts and analytical tools
to examine interactive or strategic situations between people, that is,
situations where the well being of one actor depends not only on what s/he does
but also on what others do. Hence in deciding how best to act, each person
needs to consider how others are likely to act as well. Game Theory has become
a widely used tool of analysis in a wide range of disciplines, including
economics, business, political science, law and international relations. The
mathematical requirements of this course are not high, and topics covered under
the first year mathematics sequence are more than sufficient to master the
content of this course. However, the course does require students to think and
reason in an analytically rigorous and systematic manner.
AE540
Seminar Series on the Chinese Economy [2 credits]: The objective
of t his graduate course is to provide MA students with background knowledge
and some economic analysis about major aspects of the Chinese economic and
business environments. The course consists of normal lectures, class
discussions and presentations, term papers and field studies. Students are
required to read extensively and prepare questions before they come to the
class.
AE541
Transportation and Logistics [2 credits]: To provide a basic knowledge of
and an analytical framework for Business Logistics Management. Topics include
Customer Service, Inventory Management, Transportation Management and Facility
Location. The objective of the course is to build a working knowledge of the
fundamental concepts and management tools for business logistics.
AE542
AE543
Urban Economics [2 credits]: The module provides students with a
general knowledge on various aspects of urban economics, emphasizing the
development of cities and urban economic problems in
AE544
Selected Topics in How to Do Business in China [4 credits]: A number of
topics related to doing business in China will be discussed, including Chinese
business environments; market entry strategy; distribution and sourcing in
China; negotiating with the Chinese, franchising in China, Chinese Anthropology
and cross-cultural communications This is an introduction to doing business in
China. The discussion will be stratified as follows: Laws, regulation about
human resources, Wages and income tax, Social insurance, Recruiting(employment
agency, mass media, HR fairs, Labor contract(relevant terms, official approval,
Labor disputes, Personnel file management, How to manage Chinese staffs, etc.
AE545
Environmental Economic Policy [2 credits]: The circulation
of the environment-economic cycle; dynamic cost-benefit analysis; assessment
and evaluation of environmental goods; inter temporal optimization of
allocation of natural resources; efficient emission of pollutant; and
sustainability of economics development.
AE546
Applied Econometrics [2 credits]: Emphasize the connection between
economics theory and empirical evaluation. It will cover topics in applied
macro-econometrics and Micro-econometrics with a view to illustrating the
interplay between models, data and methods. In the macro part of the course,
the interface between modern macroeconomic theory and empirical work will be
highlighted. Some lectures will focus on international macroeconomics. The
micro part of the course focuses on the application of econometric techniques
to modeling the behavior of individual economic agents. Prerequisite: knowledge
of Microeconomics, Macroeconomics, Econometrics equivalent to AE503 level.
AE547
Telecommunications Economic Policy [2 credits]: Public
telecommunications policies; issues related to cross border radio, TV
sales/flow, foreign investment, trans border data flow and satellite
broadcasting; market structure; and regulatory policies and anti-trust laws.
Chinese aspects of the policies will be emphasized.
AE548
Mao Zedong Thought and Deng Xiaoping Theory [2 credits]: the course
consists of a series of lectures and discussion on Mao and Deng''s
approach to the Chinese problems and to familiarize the essence of Mao Zedong
thought and Deng Xiaoping Theory so that a students may have a better
understanding of the theoretical background to the solution of problem in
contemporary China, especially China-style socialism and its political
economics and legal structures.
AE549
AE560
Internship Program [2 credits] Registration in the internship program
requires permission of the Dean of School of the International Trade and
Economics. Opening for internship will be posted ad when they become available
during fall and spring terms, so you should plan accordingly. Application for
an internship placement will normally only be considered when a student has
completed the core AE501 Micro, AE502 Macro, and AE503 Econometrics courses.
Prerequisite: permission of the School’s Dean.
AE561
Directed Research project [2 credits] This involves working on an
individual basis with a faculty member. The typical pattern is to meet for 2-3
hours every 2 weeks during the term registered, and to submit a research paper
at the end of the term, which is the basis for the course grade. Please note that
it is the student’s responsibility to find a faculty member willing to
supervise the directed research project. Once you have done so, you will need
to fill out the appropriate form, available from the Administrative Director,
and submit the completed form, along with a reading list for the directed
research project, back to the Administrative Director, for approval by the Dean
of School of the International Trade and Economics. Application for a directed
research project will normally only be considered when a student has completed
the core AE501 Micro, AE502 Macro, and AE503 Econometrics courses.
Prerequisite: permission of the School’s Dean.
AE562
Internship Placement [4 credits] Internship placements may be available to
persons who are full-time students and are registered in the
AE590
Thesis [6 credits] The thesis is expected to be a significant and
original contribution to knowledge in its field, must demonstrate mature
scholarship and critical judgment on the part of the candidate and it must
indicate an ability to express oneself in a satisfactory literary style.