Course Descriptions of Applied Economics
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.
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.
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.
International Politics of
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).
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
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.
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
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.
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.
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.
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 Schoolís 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 studentís 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 Schoolís Dean.
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.