ECGA 5540 – Emerging Markets
Intended primarily for IPED students interested in analyzing the dynamics of emerging financial markets in Africa, Asia, and Latin America. The course compliments POGA 6991- Political Risk Analysis. Students must prepare a country study regarding one country's basic macroeconomic performance, foreign exchange market, and stock market. Use of a computer and the Internet are incorporated into the course to gather data and analyze it statistically. Intended primarily for IPED students, this course explores the dynamics of emerging financial markets in Africa, Asia, Eastern Europe, and Latin America. Complimenting and expanding upon the skills learned in POGA 6991 Political Risk Analysis, students learn how to prepare a country study regarding their country's leading macroeconomic indicators, the stability of its foreign exchange market, and the likely returns and risks associated with its stock market. Real time data is obtained from the university's Bloomberg Terminal and the internet. Additional data is available from standard written and CD-ROM statistical sources. Students are taught how to analyze this data using standard statistical software to forecast trends as well as to estimate returns, volatility and cross correlations. An optimal portfolio of equity investments in emerging markets is estimated. Interest in analyzing the dynamics of emerging financial markets in Africa, Asia, Eastern Europe, and Latin America.
ECGA 5551 – Domestic and International Banking
A survey of domestic, and international banking activities and regulations, foreign exchange futures and options, foreign exchange rates, Eurocurrency markets, interest rate swaps, American banking regulations, hedging foreign exchange and interest rate risk, and financial innovation.
ECGA 5560 – Exchange Rates
Fixed exchanged rates in historical perspective. Recent evidence of flexible exchange rates. Spot and future exchange rates; bands of variation. Rational expectations and overshooting. Portfolio balance approach and stock-flow problems. Macroeconomic interdependence and exchange rate regimes. Efficiency in markets for foreign exchange. Optimum currency areas. Optimal portfolios of currencies in the presence of fluctuating exchange rates. Stabilizing and destabilizing speculation.
ECGA 5570 – Global Financial Markets
The course describes the markets and regulatory structures in which firms operate and the types of financial instruments used in developed and developing countries. Examines sources of risk investors face as well as how the financial system itself plays a role in development. An examination of financial markets in developed and developing countries. This course describes the markets and regulatory structures in which firms operate to raise funds and the type of financial instruments used. Attention is paid to sources of risk investors face domestically and internationally and the pricing of that risk. The course also looks at how firms operate under the financial constraints of a developing economy as well as how the financial system itself may play a role in affecting the rate of development. Satisfies IPED students the GBA certificate prerequisite of FN6411 Financial Environment. Designed to complement topics covered in ECGA 5551 Domestic and International Banking.
ECGA 5580 – Empirical Methods in International Finance
This course is specifically designed to examine exchange rates from an empirical perspective. It integrates theoretical and empirical issues to show how theoretical and econometric knowledge is used in combination to address issues relevant to this literature. An examination of a selected topic in international finance, with emphasis placed on empirical testing methods. The course will develop and strengthen the student's ability to apply statistical methods to examine, analyze, and resolve issues in international finance, and more generally in their own chosen area of research.
ECGA 5710 – Math for Economists I
An introduction to linear algebra and differential calculus, as used in economics. Topics include matrix algebra, determinants, solutions of systems of linear equations, differentiation, single variable optimization, and an introduction to multivariate and constrained optimization.
ECGA 5750 – Game Theory
ECGA 6010 – Price Theory I
Methodology, theory of consumer behavior and demand. Theory of production and factor prices under varying market structures. Welfare economics.
ECGA 6020 – Macroeconomic Theory I
Classical, Keynesian, and contemporary analysis of income, employment, and price determination. Rational expectations in macro models. Dynamics of inflation and inflationary expectations.
ECGA 6240 – Financial Economics
A study of the fundamental methods and pricing techniques in Financial Economics. The course studies valuation of fixed income securities, stocks, and derivative contracts.
ECGA 6310 – Monetary Policy
The impact, transmission, and incidence of monetary policy, central bank control of the money supply, rational expectations, and the effectiveness of monetary policy.
ECGA 6320 – Monetary Theory
The influence of money on prices, interest, output, and employment. Microfoundations of monetary theory, Rational expectation, contract theory.
ECGA 6330 – Domestic Financial Markets
The structure and determinants of money and capital market rates. The term structure of interest rates, inflation, and the rate of interest. Risk and uncertainty. Portfolio theory. Asset pricing models.
ECGA 6333 – Investment Analysis
ECGA 6340 – Financial Theory
The theory of financial decision making, risk, and risk aversion, advanced asset pricing models, empirical regularities of financial markets.
Prerequisite: ECGA 6330, ECGA 5710. ECGA 6710 is strongly recommended.
ECGA 6380 – Experimental Methods in Finance
A study of the methodology of economics with emphasis on the design & implementation of experiments. The application of the results on financial economics will be examined and students will develop their own research proposal.
ECGA 6450 – Microeconomic Development Issues
Uses the tools of household economics to study various development issues such as Microfiance, Agrarian Reform, Labor Practices, etc. Examines the microeconomicissues inherent in economic development. Topics include adverse selection/moral hazard, household economic portfolios, credit markets, microfinance, insurance, labor markets. This course develops the analytical tools of the economics of households. It then applies these tools to study how households confront various problems in developing countries. Issues covered in the course include but are not limited to: microfinance, agrarian reform, incomplete insurance markets, and fragmented labor markets.
ECGA 6460 – Agriculture and Development
SUSTAINABLE DEVELOPMENT Topics in agricultural economics including food security and environmental issues.
ECGA 6470 – Growth and Development
A survey of growth models and statistical evidence to determine what causes growth rate to vary among countries and over time. Topics include the source of economic growth, growth with balance of payments adjustments, capital inflows and growth, and north-south growth models. Prerequisites ECGA 5410 and ECGA 5710. Growth models and statistical evidence are surveyed to determine what causes growth rates to vary among countries and over time. Topics include the sources of economic growth, growth with balance of payments adjustment, capital inflow and growth, and North-South growth models. Prerequisites: Economic Development Policy and Applied Econometrics or the equivalent.
ECGA 6510 – International Trade
Absolute and comparative advantage. Factor price equalization and important trade theorems. Empirical tests of the Leontief Paradox. Factor growth, technical progress in a simple, open economy. Tariffs in large and small countries. Effective protection.
Theory of second best. Theory of customs unions.
ECGA 6530 – International Economic Development
International and interregional trade and development, international and interregional factor movements and development, trade restrictions and development, economic integration and development, balance of payments and international financial aspects of development.
ECGA 6560 – International Finance
Balance of payments. Foreign exchange market. The nature, disturbance, and readjustments of the balance of payments. Capital exports and the theory of transfer. Development of international economic institutions and the world economy. Flexible exchange rates. Purchasing power parity. Covered interest arbitrage. Short-term capital movements and the efficiency of the foreign exchange market.
ECGA 6710 – Math for Economists II
Advanced mathematical techniques used in economics, including exponential and logarithmic functions, integration, multivariate and equality-constrained optimization, dynamic equations and systems of dynamic equations, as well as more advanced optimization techniques.
ECGA 6910 – Applied Econometrics
Basic techniques of econometric theory, including applications in consumer theory, theory of the firm, and in macroeconomics, as well as a review of statistical methods. Some computer work is assigned.
ECGA 6950 – Financial Econometrics
Hypothesis testing, and modeling, with respect to financial data.
ECGA 7010 – Price Theory II
Advanced topics in demand and production theory, human capital, theories of interest, technological change, general equilibrium, and welfare economics.
ECGA 7020 – Macroeconomic Theory II
Optimal wage/employment contracts, with implications for unemployment compensation schemes: a taxonomy of macroeconomics dis-equilibrium; old and new theories of business cycles; problems of productivity and growth.
ECGA 7910 – Econometrics I
An examination of the standard linear model and generalized least squares. Hypothesis formulation, model specification, estimation and testing techniques, using matrix algebra.
ECGA 7920 – Econometrics II
An advanced treatment of select topics in econometrics, including sophisticated simultaneous equation estimation, asymptotic distribution theory, time series analysis, forecasting and Bayesian inference.