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Hieronder staan het programma en de vakomschrijvingen van MSc Economics Klik op de naam van een vak in een schema om naar de omschrijving te gaan.
| » Jaar 1 (basisprogramma MSc Economics) | |||||||
| Periode | Type | Code | Naam | Taal | ECTS | Uren | |
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| hele jaar | verplicht | keuzevakken A MSc Economics | Engels | 15 | |||
| verplicht | keuzevakken B MSc Economics | Engels | 10 | ||||
| semester I a | verplicht | EBM103A05 | Empirical Methods of Economics | Engels | 5 | 4 | |
| verplicht | EBM104A05 | Games and Industrial Organization | Engels | 5 | 4 | ||
| verplicht | EBM836C05 | Macroeconomics for MSc Economics | Engels | 5 | 4 | ||
| semester II | verplicht | EBM877A20 | Master's Thesis Economics | Engels | 20 | ||
| Opmerkingen | Studenten kiezen 15 EC uit keuzevakken A MSc Economics (zie onder); | ||||||
| » Jaar 1 (keuzevakken A MSc Economics) | |||||||
| Periode | Type | Code | Naam | Taal | ECTS | Uren | |
| semester I b | keuze | EBM100A05 | Competition Policy - Theory and Practice | Engels | 5 | 4 | |
| keuze | EBM101A05 | Economic Growth in History | Engels | 5 | 3 | ||
| keuze | EBM102A05 | Empirical Macroeconomics | Engels | 5 | 4 | ||
| keuze | EBM164A05 | Money, Finance and the Economy | Engels | 5 | |||
| semester II a | keuze | EBM194A05 | Fin. & Econ. Org. of Healthcare Markets | Engels | 5 | ||
| keuze | EBM106A05 | Microeconomics of Household Behaviour | Engels | 5 | 4 | ||
| keuze | EBM107A05 | Monetary Policy and Financial Regulation | Engels | 5 | 2 | ||
| semester II b | keuze | EBM148A05 | Economics of Regulating Markets | Engels | 5 | 4 | |
| keuze | EBM108A05 | Public Economics and Social Policy | Engels | 5 | 4 | ||
| Opmerkingen | Studenten die zich speciaal richten op 'Microeconomics of Markets and Incentives' kunnen alleen kiezen uit: Competition Policy - Theories and Practice (EBM100A05), Economics of Regulating Markets (EBM148A05), Microeconomics of Household Behaviour (EBM106A05) en Public Economics and Social Policy EBM108A05; | ||||||
| » Jaar 1 (keuzevakken B MSc Economics) | |||||||
| Periode | Type | Code | Naam | Taal | ECTS | Uren | |
| semester I a | keuze | EBM113A05 | Dependence & Extremes in Risk Management | Engels | 5 | 4 | |
| keuze | EBM835B05 | Econometric Theory and Methods | Engels | 5 | 4 | ||
| keuze | EBM085A05 | Emerging Markets (MSc) | Engels | 5 | 4 | ||
| keuze | EBM095A05 | Growth and Development Policies | Engels | 5 | |||
| keuze | EBM096A05 | International Banking and Finance | Engels | 5 | |||
| semester I b | keuze | EBM021A05 | Econometric Inference | Engels | 5 | 4 | |
| keuze | EBM166A05 | Energy & Finance | Engels | 5 | 4 | ||
| keuze | EBM195A05 | Health Economics and Policy | Engels | 5 | 4 | ||
| keuze | EBM114A05 | Models for Short Term Risk Management | Engels | 5 | 4 | ||
| keuze | EBM071A05 | Responsible Finance and Investing | Engels | 5 | 4 | ||
| keuze | EBM097A05 | Trade, Environment and Growth | Engels | 5 | |||
| semester II a | keuze | EBM110A05 | Applied Microeconometrics | Engels | 5 | 4 | |
| keuze | EBM111A05 | Asset and Liability Management | Engels | 5 | 3 | ||
| keuze | EBM093A05 | Country Studies | Engels | 5 | |||
| keuze | EBM094A05 | Economic Geography | Engels | 5 | |||
| keuze | EBM167A05 | Energy Transition & Innovation | Engels | 5 | |||
| semester II b | keuze | EBM806B05 | Behavioural Finance & Personal Investing | Engels | 5 | 3 | |
| keuze | EBM196A05 | Economic Evaluation in Healthcare | Engels | 5 | 4 | ||
| keuze | EBM069A05 | Finance and Development | Engels | 5 | 6 | ||
| 1 | Applied Microeconometrics | EBM110A05 | |||||||||||||||||||||||||||
| This course provides a thorough understanding of microeconometric methods. During the course applications of the different methods are discussed mainly in the fields of consumption (saving) behavior, labor economics, industrial organisation and financial economics. | |||||||||||||||||||||||||||||
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| 2 | Asset and Liability Management | EBM111A05 | |||||||||||||||||||||||||||
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| 3 | Behavioural Finance & Personal Investing | EBM806B05 | |||||||||||||||||||||||||||
| Behavioral Finance (BF) is a new development in the field of finance, which has been going on for more than two decades now. This development has not only affected academic finance, but has also gained profound interest from practitioners, in particular in the field of investments. In BF, empirical phenomena are being analyzed in terms of behavioral characteristics. In doing so, it explicitly deviates from the rational decision-making approach of financial economics. In this course we will focus mainly on individual investor psychology and behavior and contrast it with the neo-classical approach. | |||||||||||||||||||||||||||||
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| 4 | Competition Policy - Theory and Practice | EBM100A05 | |||||||||||||||||||||||||||
| In recent years there has been much debate among economists and policy makers about competition policy and the extent of competition on markets. This course discusses in depth parts of the modern theoretical literature on industrial organization theory that underlie the arguments which are used in this lively and challenging debate. Ample attention will be paid to applications of the theory to practical cases. Topics discussed are: market power, market definition, cartels, horizontal mergers, vertical mergers, vertical restraints, abuse of dominant position, monopolisation practices. | |||||||||||||||||||||||||||||
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| 5 | Country Studies | EBM093A05 | |||||||||||||||||||||||||||
| What are the opportunities for growth and development in a country and what holds it back? What are the lessons for government policies and firms that are contemplating investment? In this hands-on course, you will focus in-depth on the causes and consequences of growth in a specific country. As part of a small team, you will analyze one particular institution such as the innovation system, trade openness or the financial sector. Your analysis will be based on academic literature that discusses what makes a successful institution and statistical data sources. The literature on your institution will be introduced in thematic groups with members from other country teams. The analysis of your theme forms one chapter of the final country report. The insights from the different analyses by the group members are synthesized into a summary chapter to provide useful information for policy makers or multinational firms about the prospects for economic growth and doing business in your country. Together with your team, you will present the findings and policy or business recommendations from your report to the lecturers and other course participants. Your final course grade is based on an individual grade for the chapter you contribute to the country report; a grade for the quality of the feedback you provide to fellow students; a group grade for the summary chapter that synthesizes the other chapters; and a grade for your contribution to a discussion panel. | |||||||||||||||||||||||||||||
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| 6 | Dependence & Extremes in Risk Management | EBM113A05 | |||||||||||||||||||||||||||
| The normal distribution is the one most used in theoretical and practical work, because of its tractability. However, it imposes strong restrictions on extremes, and dependence (in the context of multivariate random variables). In this course, we explore alternatives to the distribution, and argue that modern risk management should be focusing on tail behaviour. Also, we treat an alternative way to model dependence between random variables: by specifying the marginal distributions and the dependence structure separately, using copula's. Even though models in risk management provide the leading examples, the methods are widely applicable. | |||||||||||||||||||||||||||||
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| 7 | Econometric Inference | EBM021A05 | |||||||||||||||||||||||||||
| The course gives an advanced treatment of econometric inferential methods.The course provides feedback on academically written reports about assignments. The topics cover: • Instrumental Variable Estimation: large-sample testing, bootstrap testing, Durbin-Wu-Hausman testing, nonlinear models, • Generalized method of moments: GMM for linear models, HAC estimation, nonlinear models, method of simulated moments, • Maximum likelihood, asymptotic properties, three classical tests, autoregressive errors, • Multivariate models: SUR model, linear simultaneous equations, maximum likelihood estimation, LIML, FIML, nonlinear models. | |||||||||||||||||||||||||||||
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| 8 | Econometric Theory and Methods | EBM835B05 | |||||||||||||||||||||||||||
| The course gives an advanced treatment of econometric methods. Both matrix algebra and computing skills play an important role. The course provides substantial feedback on written reports about assignments. The topics cover: • Statistical properties of OLS • Hypothesis testing in linear regression models: exact, large sample, simulation based, power, • Confidence sets: exact, bootstrap, heteroskedastic-consistent, • Nonlinear regression: method of moments, NLS, Gauss-Newton regression, heteroskedastic robust testing, • Generalized least squares: feasible GLS, AR and MA processes, testing for serial correlation, autoregressive errors, specification testing. | |||||||||||||||||||||||||||||
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| 9 | Economic Evaluation in Healthcare | EBM196A05 | |||||||||||||||||||||||||||
| Policy makers have to decide whether to include new evidence-based technology in the basic insured package. Economic Evaluation in Healthcare is supportive to these policy makers. This course offers economic perspectives on innovations in healthcare. Patients who need care expect that this care is available in order to prevent, cure or alleviate symptoms. In addition, patients expect that the price of care is related to the expected health outcomes. The rising healthcare costs due to new technological possibilities may jeopardize the needs in other public sectors such as the education, culture, safety and defence sectors. In a context of uncertainty and scarcity, there is a high need for decision making based on valid information about health gain and costs. A course about Economic Evaluation in Healthcare provides students contemporary insights about improving the decision making on new healthcare technologies. This course is part of the focus area 'Health Economics'. When you focus your MSc on health economics subjects you will be awarded an official acknowledgement on your diploma, improving and broadening your career opportunities in the health sector. Prerequisites are mentioned in the Teaching and Examiniation Regulations: 'Focus areas in the master programmes'. | |||||||||||||||||||||||||||||
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| 10 | Economic Geography | EBM094A05 | |||||||||||||||||||||||||||
| The geo-economic map of the world changes constantly. Globalization has led to a rapid increase of these changes in the location decisions of firms. This course aims to provide students with a better understanding of the resulting changes in the geo-economic patterns of FDI and international trade and the underlying strategic decision of firms to locate in (or offshore to) knowledge intensive clusters of economic activity. We discuss key theories and empirical evidence to understand these changes and, subsequently, discuss the firm level drivers of these changes. | |||||||||||||||||||||||||||||
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| 11 | Economic Growth in History | EBM101A05 | |||||||||||||||||||||||||||
| The aims of this module are to provide at an advanced level the sources and methods of quantitative economic history, together with a review of some major findings of economic historical research of interest to economists. This course deals with selected issues during the period of modern economic growth that is, from the industrial revolution until the present time. Within this time frame a comparison will be made between the nature of the growth process in Western Europe during the 19th and the 20th century and that of the post-World War II experience of the East Asian and Latin American countries. The course will address the issue of transferability or replicability of the European experience under different institutional and social conditions. Important questions include: How did globalization begin? When and why did it lead to development or underdevelopment, did it play a role in the great divergence in income between the West and the rest of the world. What was the impact of colonialism and free trade on these regions. What lessons does history teach to countries that want to catch up to the West today? The course focuses on important topics related to modern economic growth: technological progress / general purpose technologies, historical institutional analysis, globalization and the historical geography of economic development and Divergence Big Time: Economic growth since 1870. Students should achieve an understanding of both how economic historical research can be used to shed light on the current state of the economy and how economic analysis can sharpen our understanding of history. | |||||||||||||||||||||||||||||
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| 12 | Economics of Regulating Markets | EBM148A05 | |||||||||||||||||||||||||||
| The central theme of the course is: how can governments (regulators) effectively improve the functioning of markets, in particular those markets which are characterized by economies of scale resulting in natural monopolies? Examples of those markets are energy markets, transport markets and telecom markets. Topics to be discussed are among others: how to determine the tariffs that an operator of an gas network, airport or rail track is allowed to charge on users of the network infrastructure as gas users, airlines and railway companies, respectively? How to implement competition in the energy industry, both on wholesale level and retail level? Knowledge of economics of regulating market is useful for positions within regulated companies (TenneT, Gasunie, Schiphol, Prorail, etc.), companies using regulated infrastructures (airlines, large energy users, etc.) regulatory bodies (ACM, ACER, etc.) and consultancies (PWC, Oxera, etc.). The course not only deals with the economic theory behind the regulation of markets, but also applies this theory to real-life problems in particularly energy markets, but also in telecom and transport. The course consists of 7 meetings of 3 hours per week. In each meeting we discuss a specific topic. We start by discussing the question why some markets, in particular energy markets, need regulation and others not (Meeting 1). Then, we discuss how the government could regulate these markets (Meeting 2). These first two meetings are meant to give the students some theoretical background in economic regulation. Afterwards, we have two meetings in which we discuss key issues in the daily practice of regulation. The first one is on benchmarking on efficiency (Meeting 3). Here we discuss how to assess the costs of a regulated firm. In the other one we discuss how to determine the appropriate reward (i.e. the WACC) on capital which is invested in the network (Meeting 4). These questions are highly important for regulated firms as it affects how much profit they are allowed to make and to which extent they are able to finance the investments. Then, we go into in the question how to implement competition in these industries. These sessions are mainly directed at energy markets. First, we discuss the design of electricity and gas markets on wholesale level (Meeting 5). Afterwards, we analyze how electricity and gas markets can become more integrated on an international level (Meeting 6). In the final meeting, we pay attention to the retail market, discussing how competition can be implemented in markets where consumers (instead of firms) play a key role (Meeting 7). For those not having a strong background in microeconomics, two additional lectures are organized in which all relevant microeconomic concepts are discussed. This course is part of the focus area 'Energy'. When you focus your MSc on energy subjects you will be awarded an official acknowledgement on your diploma, improving and broadening your career opportunities in the energy sector. Prerequisites are mentioned in the Teaching and Examiniation Regulations: 'Focus areas in the master programmes'. | |||||||||||||||||||||||||||||
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| 13 | Emerging Markets (MSc) | EBM085A05 | |||||||||||||||||||||||||||
| The course provides a nuanced perspective on strategic decision processes and outcomes of firms in emerging economy markets such as China, Brazil and India. Primary emphasis is on 1) recognizing the uniqueness of the context characterizing the business environment in these economies and, 2) how the context then shapes the nature and behavior of firms. From an academic perspective, the course introduces students to recognizing and evaluating the assumptions and limitations of popular theories and frameworks commonly developed and applied in the context of developed economies. For those interested in practical aspects of the course, real-life business situations in the form of case studies provide a firsthand experience of the multiple challenges faced by firms due to a rapidly evolving business environment, increasing global competition and local constraints. The business cases reveal the thought processes of top managers and CEOs grappling with these problems. | |||||||||||||||||||||||||||||
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| 14 | Empirical Macroeconomics | EBM102A05 | |||||||||||||||||||||||||||
| This course deals with two topics of empirical macroeconomics: vector autoregressions capturing interdependencies among multiple time series, and spatial econometrics capturing interaction effects among cross-sectional units, such as regions or countries. The literature consists of journal articles which will be announced at the start of the course. Students need to do one case study (assignment) in one of the two areas, depending on their professional orientation. | |||||||||||||||||||||||||||||
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| 15 | Empirical Methods of Economics | EBM103A05 | |||||||||||||||||||||||||||
| The course covers modern econometric methods on the basis of an intermediate textbook. The technique of regression will be discussed, as well as various extensions of this estimation method in order to deal with issues such as endogenous regressors, non-linear models (e.g. probit, logit, tobit), and the analysis of panel data. The students are supposed to complete assignments that require the use of the econometric software package STATA. | |||||||||||||||||||||||||||||
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| 16 | Energy & Finance | EBM166A05 | |||||||||||||||||||||||||||
| This is a course in the MSc Finance which focuses on energy risk analysis and management. Almost all methods that are developed and used in financial market analysis can be used in energy markets as well. However, we concentrate on two general methods in particular and aim to deepen their understanding. These are real option analysis and energy instruments and derivatives. Firstly, real option analysis uses the mathematical methods of derivatives pricing to analyze the value of various types of flexibilities in (real) investment projects. The real option analysis so far has only remotely been touched upon in the finance curriculum and is perfectly suitable to apply in the valuation of energy projects. Secondly, we delve into energy risk management as, in energy markets, many risks are related to underlying cost structures and the characteristics of volatility of prices. Power prices for instance are related to the price of the fuels and to carbon prices. Some ‘fuels’ like wind and solar energy are intermittent whereas other aren’t. Power companies and (industrial) companies will be using different mixes of energy in their business. This suggests integrated risk management is required. In the course Energy Finance, we investigate how to assess the exposure of firms to a variety of energy risks regarding both their costs and revenues and study the management strategies regarding these risks. This course is part of the focus area 'Energy'. When you focus your MSc on energy subjects you will be awarded an official acknowledgement on your diploma, improving and broadening your career opportunities in the energy sector. Prerequisites are mentioned in the Teaching and Examiniation Regulations: 'Focus areas in the master programmes'. | |||||||||||||||||||||||||||||
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| 17 | Energy Transition & Innovation | EBM167A05 | |||||||||||||||||||||||||||
| The shift towards renewable energy requires innovation in technologies and social behavior. The energy industry has changed and is changing dramatically. Once an oligopolistic structure, the industry is rapidly changing and incumbent businesses face threats from disruptive innovation. Similarly, newcomers face high levels of uncertainty about future demand, technological trajectories, and governmental policies. What does this mean for the established players and new start-ups? And what is the role of renewable energy innovation to be competitive in this industry? The purpose of this course is to give students an advanced understanding of these topics, using current academic research on strategy and innovation, to understand how collaboration and innovation can be used in this industry to adjust to change. We consider the complex transition towards sustainable energy, and will focus on the role of government-industry and industry-industry collaborations. In the process, students gain knowledge about how to realize and align partnerships in the transition of traditional (fossil fuels) to more sustainable sources of energy (wind, solar, biomass, tidal power). This course is part of the focus area 'Energy'. When you focus your MSc on energy subjects you will be awarded an official acknowledgement on your diploma, improving and broadening your career opportunities in the energy sector. Prerequisites are mentioned in the Teaching and Examiniation Regulations: 'Focus areas in the master programmes'. | |||||||||||||||||||||||||||||
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| 18 | Fin. & Econ. Org. of Healthcare Markets | EBM194A05 | |||||||||||||||||||||||||||
| This course incorporates an advanced perspective on the economics behind organisations operating in the health and healthcare sectors. We recap the individual decision to buy health insurance, and discuss the social benefits and costs arising from its provision. We explain why health insurance markets may fail, and solutions that may arise to obviate such market failure. We then discuss major actors in health and healthcare markets: physicians, hospitals, and the pharmaceutical industry. We examine how principal-agent problems characterise the patient-physicians relationship, and regulation aimed at solving these problems. We examine funding methods for hospitals, and different incentives arising out of different funding methods. We finally examine the role of the pharmaceutical industry in researching and developing new health technologies and treatments, as well as the process of getting drugs to market. This course is part of the focus area 'Health Economics'. When you focus your MSc on health economics subjects you will be awarded an official acknowledgement on your diploma, improving and broadening your career opportunities in the health sector. Prerequisites are mentioned in the Teaching and Examiniation Regulations: 'Focus areas in the master programmes'. | |||||||||||||||||||||||||||||
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| 19 | Finance and Development | EBM069A05 | |||||||||||||||||||||||||||
| The course is designed for MSc students with a background in (business) economics. The focus is on the role of finance in the process of development in developing countries, with a strong focus on microfinance. The basis for the course consists of theories on financial development and the economics of microfinance which are applied to developing countries. Attention is paid to the opportunities and limitations of financial institutions in developing countries in general, and microfinance institutions in particular. Questions regarding the functioning and performance of (rural) financial markets in the context of developing economies are raised and discussed. Specific topics include: Finance and Development; Finance and Inequality; the role of state banks; why intervene in credit markets?; the economics of microfinance; techniques to measure impact of financial interventions. The course contains main lectures, guest lectures and group oral presentations by students. | |||||||||||||||||||||||||||||
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| 20 | Games and Industrial Organization | EBM104A05 | |||||||||||||||||||||||||||
| The course first discusses a number of equilibrium concepts from noncooperative game theory. It focuses on concepts used in contemporary microeconomic theory, in particular in the field of Industrial Organization. Next, the course discusses in detail advanced models of cartel behavior based on repeated games. Finally, it discusses advanced game-theoretic models of predatory pricing. | |||||||||||||||||||||||||||||
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| 21 | Growth and Development Policies | EBM095A05 | |||||||||||||||||||||||||||
| Why are some countries poor and some countries rich? This course will introduce you to the debate about strategies for sustained growth and development in today's world. Global economic growth has been rapid since the 1950s, but uneven across countries and major challenges to growth have appeared in the last decade. What were successful growth strategies in the past? Which policies have contributed to this success? What are the new growth challenges ahead at the regional and global level and how can we cope with these? Based on the explanatory growth framework of Angus Maddison we delve into the possibilities of generating development. We discuss new global trends that provide both opportunities and challenges for growth and development, and end the course with an evaluation of possible policy options against this background. This will be done by in-depth study and discussion of major articles in this field. | |||||||||||||||||||||||||||||
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| 22 | Health Economics and Policy | EBM195A05 | |||||||||||||||||||||||||||
| This course incorporates an advanced perspective on the application of economic principles to analyse health and healthcare. We recap and critique the dominant economic model (the “Grossman model”) of individual decision-making with regard to health, highlighting both general problems and problems specific to particular aspects of health, such as mental health. We then consider areas where health economics can inform public policy with regard to health specifically. and how such policy may respond in the future to demographic pressures. We finish by considering how poorer countries face different policy questions. This course is part of the focus area 'Health Economics'. When you focus your MSc on health economics subjects you will be awarded an official acknowledgement on your diploma, improving and broadening your career opportunities in the health sector. Prerequisites are mentioned in the Teaching and Examiniation Regulations: 'Focus areas in the master programmes'. | |||||||||||||||||||||||||||||
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| 23 | International Banking and Finance | EBM096A05 | |||||||||||||||||||||||||||
| This course introduces theory, evidence and policy on international finance and in particular on banks. We study bank internationalization strategies and regulation of international banks. We analyze channels through which risk spreads across banks, especially internationally, and look at how crises spread. We also look at bank risk-taking and contagion. Finally, we study bank policies aimed at financial stability and prudence, and consider the dependence of banks on governments and vice versa. The course studies research that relies on theoretical models and various statistical techniques. Overall, the course covers about three papers per week, one in the lecture (with additional context and introduction) and two in small group tutorials. | |||||||||||||||||||||||||||||
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| 24 | Macroeconomics for MSc Economics | EBM836C05 | |||||||||||||||||||||||||||
| Topics studied include, growth theory, intertemporal macroeconomic theory, and intergenerational macroeconomics. | |||||||||||||||||||||||||||||
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| 25 | Master's Thesis Economics | EBM877A20 | |||||||||||||||||||||||||||
| Students write an empirical research paper of 20-50 pages over a period of 3-5 months. This paper can cover all but one of the subjects within Economics as e.g. described in the main themes of the Journal of Economic Literature. Students have to register for this “course”, which starts with an introductory lecture in the first week of semester 1 or semester 2. The paper needs to be finished at the end of that semester. | |||||||||||||||||||||||||||||
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| 26 | Microeconomics of Household Behaviour | EBM106A05 | |||||||||||||||||||||||||||
| The course will cover intertemporal models of consumption, saving and retirement decisions and review the empirical evidence on these issues. Particular attention will be paid to the question whether people save enough for retirement and to the saving behaviour of older people. Intertemporal choices will be analysed in the context of the life-cycle framework. However, deviations from economic rationality and the standard life-cycle model will also be evaluated. | |||||||||||||||||||||||||||||
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| 27 | Models for Short Term Risk Management | EBM114A05 | |||||||||||||||||||||||||||
| The course considers discrete time models for asset returns over the short run. In particular, ARIMA-ARCH/GARCH models and models used in Extreme Value Theory are presented in both univariate and multivariate settings, and their estimation discussed. Even though the specific focus of the course is modelling risks affecting asset returns, the methods are useful in many other areas of (applied) finance and economics. | |||||||||||||||||||||||||||||
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| 28 | Monetary Policy and Financial Regulation | EBM107A05 | |||||||||||||||||||||||||||
| The course will discuss the following topics: European Economic and Monetary Union and the European System of Central Banks; European monetary policy (conventional and unconventional); global financial crisis; European debt crisis; European Banking Union; supporting policies needed in an incomplete monetary union, financial systems in the Netherlands, Europe, and worldwide; recent developments in the financial system and their mutual relationships; developments in prudential supervision of banks and other financial institutions; financial crises; macro-prudential supervision; systemic risk and financial stability. | |||||||||||||||||||||||||||||
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| 29 | Money, Finance and the Economy | EBM164A05 | |||||||||||||||||||||||||||
| There are three modules. Students learn about the origins and nature of money, debt and banks and their role in the macroeconomy. This is the basis for the second module, where they analyze the role of money and banks in the economy, from two theoretical perspectives (Neoklassiek, Post-Keynesian/Austrian).In the third module students experience how theoretical perspective influences policy and behaviour. | |||||||||||||||||||||||||||||
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| 30 | Public Economics and Social Policy | EBM108A05 | |||||||||||||||||||||||||||
| This course: - analyzes the impact of social insurance programs (such as unemployment insurance, disability insurance and health care) and of the tax system on individual behavior, poverty rates and health outcomes. - discusses (optimal) design of social insurances schemes: trade- off between providing a decent coverage to the population and the existence of moral hazard and adverse selection problems. | |||||||||||||||||||||||||||||
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| 31 | Responsible Finance and Investing | EBM071A05 | |||||||||||||||||||||||||||
| This course focuses on the role of non-financial attributes in production, especially the interaction between financial and social/environmental performance of firms, in particular financial institutions, and the impact of this interaction on finance and investment decisions at the level of these firms and with respect to the investment portfolio. As to financing, it especially is appropriate pricing that will be discussed; as to investing, we investigate the impact of screening on performance. We highlight the costs and benefits of managing non-financial attributes and go into their pricing and into the consequences of inappropriate pricing. Student will be required to work on projects in which they try to come to grips with responsibility in financing and investing. | |||||||||||||||||||||||||||||
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| 32 | Trade, Environment and Growth | EBM097A05 | |||||||||||||||||||||||||||
| This course (for which some basic knowledge of matrix algebra is indispensable) applies input-output analysis to issues on trade, on environment, and on growth. For the production of commodities and services, industries depend on other industries for their intermediate products. More and more, such linkages between industries cross borders. Input-output analysis is a tool that takes such interdependencies in the production structure into full account. It has been applied to a wide variety of topics, ranging from agricultural and development economics to disciplines dealing with energy and environmental issues. The course will focus on three such topics. Typical questions are the following. How much high-skilled labor in the US is involved in satisfying the demand for cars by households in Australia, reflecting trade in production factors? What is the greenhouse gas footprint of China, or how large are the Chinese "exports" of greenhouse gas emissions? What percentage of the growth in German GDP between 1995 and 2009 was due to the increased household consumption in the rest of the EU? To analyze these questions, the World Input-Output Database will be used. | |||||||||||||||||||||||||||||
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