Courses

ECON-UB.1 – Microeconomics with Algebra
ECON-UB.2 – Microeconomics with Calculus
ECON-UB.11 – Economics of Global Business
ECON-UB.15 – Competitive Analysis
ECON-UB.119 – Economics of Innovation
ECON-UB.120 – Economics of Media and Entertainment
ECON-UB.140 – Health Economics
ECON-UB.211 – Sports Economics
ECON-UB.217 – The Making of Economic Policy
ECON-UB.222 – Asian Economies 
ECON-UB.230 – Global Macroeconomics
ECON-UB.232 – Data Bootcamp
ECON-UB.233 – Macroeconomic Foundations for Asset Prices
ECON-UB.234 – Advanced Topics in Modern Macroeconomics
ECON-UB.239 – The Political Economy of Development
ECON-UB.251 – Econometrics

Economics courses with multi-disciplinary designation:
MULT-UB.20 – Game Theory
MULT-UB.27 – The Financial System

Business and Political Economy Courses:
BPEP-UB 1 Introduction to Economic and Political Thought
BPEP-UB 2 Macroeconomics
BPEP-UB 5 Business and Government
BPEP-UB 8 BPE Senior Seminar
 


ECON-UB.1 – Microeconomics with Algebra

The goal of this course is to study decision making by consumers and firms and how they interact in the marketplace. Special attention will be devoted to the efficiency properties of the market allocation. That is, we will outline the conditions under which such allocation cannot be improved upon as well as those scenarios where market power, private information or externalities call for intervention by the regulator.

Pre-requirements: MATH-UA 009 or equivalent.
Offered: Fall, Spring
 



ECON-UB.2 – Microeconomics with Calculus

The goal of this course is to study decision making by consumers and firms and how they interact in the marketplace. Special attention will be devoted to the efficiency properties of the market allocation. That is, we will outline the conditions under which such allocation cannot be improved upon as well as those scenarios where market power, private information or externalities call for intervention by the regulator.  

Pre-requirements: MATH-UA 121 or equivalent 
Offered: Fall, Spring
 



ECON-UB.11 – Economics of Global Business

This course examines the forces driving globalization-the integration of national business activities into globally competitive markets. The first part of the course discusses international trade-the role of comparative advantage and the gains from trade and the reasons for and effects of government policies that create impediments to trade. The second part of the course provides an overview of macroeconomic measurement and basic theoretical concepts of macroeconomics. The third part of the course surveys the role of money and finance in global economic activity. Topics discussed include the role of exchange rates and international flows of capital. 

Pre-requirements: ECON-UB.1 or ECON-UB.2, MATH-UA 121 or equivalent 
Offered: Fall, Spring

 



ECON-UB.15 – Competitive Analysis 

This course offers an economics approach to analyzing the way firms make marketing decisions and interact strategically with each other in the marketplace. The main goal of the course is to develop the basic intuition for pricing and other forms of firms' strategic behavior.  

Prerequisite: ECON-UB.1 or ECON-UB.2 and sophomore standing.  
Counts toward: Business economics, marketing, and management concentrations.  
Offered: Fall, Spring  
 



ECON-UB.119 – Economics of Innovation

Why are some people and firms more innovative than others? This course will study the behavior of inventors, artists, and writers to figure out what makes people creative, what encourages firms to take the risks that are inherent in innovation, and what types of institutions encourage people to do their best work. Class work alternates between weekly lectures and hands-on laboratory work. Lectures discuss current research on the determinants of creativity and innovation. Laboratory sessions use real data sets from recent research to gain hands-on experience with data analysis. Students will learn to test research questions on innovation and present data effectively to make a point. You will acquire new programming skills in python and Stata.  

Pre-requirements: ECON-UB.1 or ECON-UB.2 and STAT.UB.1 or equivalent.  
Counts toward: Business Economics and EQE concentrations.  
Offered: Fall  
 
 


ECON-UB.120 – Economics of Media and Entertainment

All media and entertainment industries, including professional sports, produce an intangible output (e.g., a music recording). They do so based on an input which is extremely idiosyncratic, i.e. the creative output of a person or group of persons (e.g., a singer or a band). Recent technological innovation has changed the balance of power between the various players and led various industry segments to re-invent their business model. This course provides an introduction to these fascinating industries, by studying value chains, key players, significant trends, etc. It takes a distinctive economics perspective to understanding how the forces of supply and demand have changed the business model of the various industry segments.

Counts toward: Business economics concentration.  
Offered: Spring
 
 


ECON-UB.140 – Health Economics  

This course applies economic principles and empirical methods to study topics in health and medical care, including the demand for medical care and medical insurance, institutions in the health sector, economics of information applied to the market for health insurance and for health care, measurement and valuation of health, and competition in health care delivery. Emphasis is on the United States, with a brief treatment of health economics research in other countries and comparisons of health systems in other developed and less developed countries.  

Prerequisite: ECON-UB.1 or ECON-UB.2 or equivalent.  
Counts toward: Business Economics concentration.  
Offered: Spring
 



ECON-UB.211 – Sports Economics

This course applies microeconomic theory and econometric analysis to sport, and it explores some public policy issues that have arisen in the design of sports competitions. In addition, it applies the tools of behavioral finance to sports betting markets. This is a unique opportunity to understand why there has been an unprecedented rise in the number of economists using sports data to explain or test theories about the wider business world. The course is divided into four main parts: The Structure of Sports Leagues, Labor Market Issues, College Sports, and the Market for Sports Betting. By the end of the course students will be able to comment intelligently on the economic issues of sport which regularly appear in the news media and they will be able to offer insights into the parallels between betting on the ball game, gambling at the ponies, and purchasing stock in a favorite firm on the NYSE.

Prerequisite: ECON-UB.1 or ECON-UB.2 or equivalent.  
Counts towards: Business Economics concentration.  
Offered: Fall
 
 


ECON-UB.217 – The Making of Economic Policy  

This course shows students how economic policy is made, and should be made, at the highest levels of federal government. It draws upon almost fifty years of economic policy-making, and the challenges that have confronted the men and women who have sat in positions of power in the Treasury, the Office of Management and Budget, the Council of Economic Advisers, and the National Economic Council.  

Counts towards: Business Economics concentration.  
Offered: Fall  
 
 


ECON-UB.222 – Asian Economies

This course covers the economic development and current structure of Asian nations, as well as the rise of regional economic interaction. It examines when, why, and how these economies began the process of economic development, why many of them have been so successful at growing and industrializing quickly, and how these economies operate today. For the purpose of this course, “Asia” consists of Japan, China, India, South Korea, Taiwan, Hong Kong, and the nations of Southeast Asia belonging to the Association of Southeast Asian Nations (ASEAN).

Prerequisite: ECON-UB.11 or equivalent.
Counts towards: Business Economics and Global Business concentrations.
Offered: Spring
 



ECON-UB.230 – Global Macroeconomics    

This course introduces students to international macroeconomics and analyzes cur-  rent international macroconomics and financial issues, poli- cies, and events, including  current global economic conditions in the United States, Europe, and Asia and emerg-  ing market economies; interest rates, exchange rates, and asset prices in the global  economy; causes and consequences of trade deficits and external imbalances; emerg-  ing market economies; financial crises; causes of currency, banking, and financial  crises; short- and long-term effects of monetary and fiscal policy asset bubbles, credit  booms, and financial crises; and the globalization of financial markets. These topics  are integrated into a theoretical framework that stresses international factors from  the start. Examples from the United States, Europe, Japan, China, and emerging  market economies are used to enhance knowledge of the world economy.  

Prerequisite: ECON-UB.11 or equivalent.    
Counts towards: Business Economics, Global Business, Sustainable Business and Finance concentrations, Corporate Finance track
Offered: Fall  
 



ECON-UB.232 – Data Bootcamp

Data Bootcamp is about nuts and bolts data analysis. Students learn about economic, financial, and business data, as well as the basics of computer programming. Applications include: leading economic indicators, bond and equity returns, stock options, income by zip code, "long tail'' sales data, innovation diffusion curves, attendance data for plays and sports teams. The course uses Python, a popular high-level computer language widely used in the business world. "High-level'' means that it's less difficult than most, but is a serious language with extensive capabilities. "Analysis'' means primarily graphical descriptions that summarize the properties of data in ways that are helpful to managers.  

Counts toward: Business Economics and EQE concentrations.  
Offered: Fall, Spring  
 



ECON-UB.233 – Macroeconomic Foundations for Asset Prices

This course is about links between asset prices (particularly prices of equity indexes and bonds) and the economy as a whole (particularly business cycles, inflation, and monetary policy). It’s also about the tools used to study these links: mathematical tools, economic tools, and soft- ware tools. Possible topics include the relation between economic growth and asset returns, "arbitrage-free" asset pricing, equity index options, the volatility smile, monetary policy and inflation, and the term structure of bond prices and interest rates. For each of these topics, macroeconomic foundations are a source of insight into the behavior of asset prices.  

Prerequisite: MATH-UA 121 or equivalent and sophomore standing.
Counts toward: Business Economics, EQE and Finance concentrations, Real Estate and Asset Pricing Tracks.  
Offered: Fall  
 



ECON-UB.234 – Advanced Topics in Modern Macroeconomics

This course considers the acquisition and processing of information to guide forecasting, investment, and other decisions. Students develop such tools as Bayesian analysis and measures of information content and capacity, and then apply each to decisions about what kinds of information to acquire and how to use that to make effective economic and financial decisions.  

Prerequisite: MATH-UA 121 or equivalent and sophomore standing.  
Counts toward: Business Economics and EQE concentrations.  
Offered: Spring
 


ECON-UB.239 – The Political Economy of Development

This course explores the political causes and consequences of underdevelopment. It goes beyond traditional explanations for economic growth often covered in macroeconomics courses and argues that a fundamental driver of a country’s economic development are its economic and political institutions. We will study the deep historical roots of these institutions and the way in which they have evolved. The course will also show that economic development is one of other several outcomes that co-evolve with institutions. Underdeveloped societies often have weak states and are more prone to conflict, crime, corruption and distorted economic policies, topics we will study throughout the course. We will cover cutting-edge research on this subject and will discuss the statistical analysis and simple mathematical models used by scholars to study these questions.

Pre-requirements: ECON-UB.1 or ECON-UB.2
Counts toward: Business Economics
Offered: Spring
 



ECON-UB.251 – Econometrics

The aim of the course is to teach you to use popular applied econometric methods while developing your theoretical understanding of those methods. Topics include least squares, asymptotic theory, hypothesis testing, instrumental variables, difference-in-differences, regression discontinuity, treatment effects, panel data, maximum likelihood, discrete choice models, machine learning, and model selection.  

Pre-requirements: ECON-UB.1 or ECON-UB.2 and STAT-UB.103 or equivalent.  
Counts toward: Business Economics and EQE concentrations.  
Offered: Fall, Spring
 

Economics courses with multi-disciplinary designation


MULT-UB.20 – Game Theory

This course introduces the basics of game theory. It focuses on fundamentals of game theory, covering basic concepts and techniques through a mix of lectures, exercises, and case discussions. Students also think about how the lessons learned may apply to other contexts, such as politics. The course equips students with game theory techniques for making good business decisions by learning how to recognize and model strategic situations and to predict when and how actions will influence the decisions of others.  

Counts toward: Business Economics and Management concentrations, corporate finance track.  
Offered: Spring  
 



MULT-UB.27 – The Financial System

Financial systems and central banks are often in the news as countries cope with economic problems and crises. Financial systems are centered on key institutions, instruments and  markets, but they also involve governments and public policy. This course examines financial systems from the perspective of both financial and economic stability. This includes a focus on the role of central banks and monetary policy, both in normal times and in financial crises.  

Pre-requirements: ECON-UB.11 or equivalent and FINC-UB.2.
Counts toward: Business Economics and Finance concentrations, Asset Pricing and Corporate Finance tracks.  
Offered: Fall, Spring
 

Business and Political Economy Courses


BPEP-UB 1 Introduction to Economic and Political Thought

This course explores political theory with an emphasis on modern theory and issues of political economy. The course has three main objectives. First, students are introduced to different theories of politics. Second, the course has a major writing component and is designed to improve students’ writing abilities. Third, the course challenges students intellectually and asks them to analyze and debate ethical and moral issues created by different economic and political choices.  

Offered: Fall  
 



BPEP-UB 2 Macroeconomics

This course introduces the student to the evidence on high- and low-frequency dynamics of economic aggregates and to cutting-edge theories that rationalize those dynamics. A complete list of the topics can be found at the bottom of this document. By the end of the course you should be able to understand and explain intuitively: The determination and roles of key macroeconomic variables, the inner working of static and dynamic macroeconomic models, economic growth facts and the Solow model, economic fluctuations and the Real Business Cycle and New-Keynesian Theories.  

Pre-requirements: ECON-UB.1 or ECON-UB.2. MATH-UA.121 or equivalent.  
Offered: Fall  
 



BPEP-UB 5 Business and Government

Welfare economics provides us with cogent rationales for government's intervention in the business arena and a compelling analysis of its limitations. Public Choice Theory gives us insights on how actual policy is shaped by the demands from voters and interest groups, as well as the self-interest of public officials. This course begins with a critical introduction to both fields of inquiry. We will then employ the newly--acquired conceptual categories to the analysis of a set of actual circumstances in which government and businesses interact in a payoff-relevant manner. We will analyze every such circumstance from a positive – why? -- and normative -- should it? -- perspective. We’ll study scenarios where businesses face unions and labor market regulations, antitrust enforcement, patent regulations, contend with trade policy, and are targets of state aid.  

Offered: Fall  
 



BPEP-UB 8 BPE Senior Seminar

Students acquire fundamental econometric methods while reading research papers in political economy and then put them to use while writing their own senior BPE research paper.  

Offered: Fall