Economics electives

 

Analysis of Industry and Competition

Lecturer: Paul Geroski 

This course is concerned with the analysis of industries and the formulation of competitive strategy. The objectives of the course are to increase the understanding of existing analytical tools, to introduce advanced tools of analysis, and to show how these tools can be used in the formulation of competitive strategy for businesses.
The course will have a strong focus both on market analysis and on the actual formulation of strategy. Case studies will be used to develop intuition and plans for action.

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Emerging Markets

Lecturer:  Saul Estrin
 
The aim of the course is to give a balanced evaluation of the opportunities and pitfalls for government policy, businesses and markets in new and emerging markets in Eastern Europe, Latin America, South East Asia and Africa. A detailed framework will be provided within which to consider the myriad problems and opportunities facing a wide variety of emerging markets. By the end of the course participants should:

Understand the nature of emerging markets and their differences from OECD nations 

  • Be aware of the policy options available to different countries
  • Recognise the importance of institutions and institutional reform
  • Have assessed which emerging market countries are currently most advantageously placed
  • Appreciate the role international business has in aiding development.

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Financial Markets and Economic Performance

Lecturer: Wouter Denhaan and Morten Ravn
 
Financial markets and the macro economy are closely interlinked. This course explores these links and their implications, thus enhancing your understanding of both macroeconomic performance and financial market developments. It stresses that frictions are key to understanding macroeconomic developments, financial markets, and the relationship between them. It is aimed at participants who wish to extend their understanding of financial markets and/or gain a deeper understanding of the macro economy.

Many financial market developments are shaped by the macro economy. For example, changes in economic performance will trigger changes in interest rates that in turn affect asset prices, borrowing costs for firms, the buying power of consumers, etc.. Understanding the macro economy is key to understanding when to expect changes in interest rates that in turn will be helpful in forecasting key aspects of many businesses.

Similarly, macroeconomic developments cannot be fully understood without considering the structure of financial markets. Well-developed financial markets are key determinants of an economy's long-run growth performance and of its ability to adjust over time in the face of business cycle fluctuations. For example, the efficiency of the banking sector is important for the allocation of capital to the most productive projects and therefore affects the economy's level of total factor productivity.

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Global Capital Markets and Currencies

Lecturer:  Richard Portes
 
This course deals with the international financial environment facing firms in a globalised economy. It will provide tools for assessing the impact of economic policy shocks and financial disturbances on financial markets, exchange rates, and capital flows. It will be especially relevant for people with career interests in investment analysis, asset management, capital markets, corporate finance, and the finance/treasury function of corporates. The course is also suitable, however, for anyone seeking further understanding of the international macroeconomy.

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Thinking Strategically

Lecturers: Marcus Asplund and Marco Ottaviani
 
This course is an accessible introduction to the methods and results of modern game theory applied to business strategy. The focus is on strategic interactions between a firm and its suppliers and customers as well as among rival firms. The insights gained in this course will help you to analyse and interpret the actions of your rivals and how to formulate a good strategic response. The course combines lectures, team presentations, and a computer simulation of dynamic industry competition - the Competitive Strategy Game (CSG).

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World Economy: Problems and Prospects

Lecturers:  Andrew Scott and Morten Ravn

The purpose of this course is to deepen your understanding of the way the global economy is evolving by considering current topical issues. The aim is to give you further experience in economic analysis as well as to provide you with the knowledge of what the global economic environment is likely to be in the five years or so after graduating. The course will provide an understanding of the issues facing governments in their policy choices, the likely behaviour of financial markets and the general business background.

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