This course is divided into two main branches namely microeconomics and macroeconomics. While macroeconomics is concerned with the economy as a whole, microeconomics examines the individual parts of the economy and focuses on how individuals and firms make decisions and how these decisions interact. This course is designed to introduce learners to the fundamentals of economics by exposing them to the principal theories and models used by economists. It demonstrates how economics can be used by individuals and businesses alike to assess problems and develop solutions. It also examines the wider macroeconomic environment and the principles underlying monetary, fiscal policy and international trade.

This course introduces students to the rigorous mathematical foundations of economics. It offers students the necessary tools upon which modern economic analysis and modeling is based. This course emphasizes training in mathematics used in economics through the many economic applications in which mathematical tools are needed.

The course covers four main topics. The first part covers the basics, such as functions and set theory. The second part teaches matrix algebra in relations to equilibrium analysis, while the third part introduces the concept of comparative statics and the tools needed, derivatives. The fourth topic again uses derivatives to do a rigorous exposition on the most important skill in economics: optimization. In each part, there will be many economic applications to let students familiarize with the mathematical concepts in an economic context and learn their real-world usefulness.

This course continues from Principles of Economics 1 to cover government interventions in markets, consumer demands, firms and market structures in the first part.

The second part of the course introduces students to the basic micro-foundations of macroeconomics, namely the consumption-leisure and consumption-saving trade-offs. The third part of the course covers the foundational theories of macroeconomics: the classical and Keynesian theories.

This course trains students in the rigorous mathematical foundations of economics. It offers students the necessary tools upon which modern economic analysis and modeling is based. This course emphasizes training in mathematics used in economics through the many economic applications in which mathematical tools are needed.

The course continues from ECON6018 by first covering the important techniques of constrained optimization. The second part extends the topics of matrix algebra to include further topics of linear algebra. The third part deals with integral analysis and probability theory. In each part, there will be many economic applications to let students familiarize with the mathematical concepts in an economic context and learn their real-world usefulness.

The course covers the foundations of Microeconomics, which constitute the fundamentals of economic analysis. The topics covered are: consumer choice (individual and aggregate), producer theory, decision making under uncertainty and principles of strategic interaction (game theory). In particular, the course will provide an introduction to normal form games, extensive form games of perfect and imperfect information and to the solution concepts that are developed for these. The last part of the course will introduce the principles of general equilibrium theory and study the fundamental theorems of welfare economics.

The course is structured in a formal manner, typical for its level, and makes use of language and tools from Mathematics. Proofs of results will be provided when needed, so as to get the student acquainted with the rigorous thinking and systematic approach that is an integral part of economic analysis. Knowledge of the mathematical tools needed by an Economist is required. A nonexhaustive list is: Calculus (continuity, differentiation, integration), Constrained and Unconstrained optimization (Kuhn-Tucker conditions), Probability theory, Linear Algebra.

This course explores major macroeconomic topics using the general equilibrium frameworks with micro-foundations. We take a rigorous approach to address income, consumption, saving, investment, economic growth, business cycles and economic policy applications. The main objective of this course is to introduce you the workhorse models of modern macroeconomics and illustrate how they are used in conducting macroeconomic research as well as implementing government policies.

The course is rigorously structured and is conducted at a fast pace. You need to clarify any doubts at the earliest by contacting me, or through group discussions with your fellow classmates. Problem sets are an integral part of the course and it is imperative that you attempt all problems.

The main purpose of this course is to provide students with the necessary econometrics tools and techniques used to analyse data sets in economics, business and finance. The focus is on understanding the methods involved, using statistical software to provide the results and then interpreting and commenting on these results. The course introduces linear and multiple regression analysis, which remains the most commonly used statistical technique in econometrics. Other topics include model specification diagnostics, nonlinear regressions, multicollinearity, heteroskedastictiy, simultaneous equations, instrumental variable estimation, binary dependent variable, and OLS in matrix form.

This course requires basic knowledge of calculus, Excel, linear algebra and statistics.

This course in international trade covers theories of international trade and multinational production as well as trade policy. Key questions as we discuss theories of international trade are: Why do countries trade? What determines the pattern of international trade? What are the effects of international trade on income distribution? With these questions in mind, the course takes you through the classical models of trade that focus on cross-country differences as the source of gains from trade, the new trade theories that rely on imperfect competition and increasing returns to scale as the rationale for trade, and the recent models of multinational production with global sourcing of inputs.

This course aims to provide students with an understanding of how the global monetary and financial system works. It provides a framework for analyzing issues that arise from the dynamic interaction between money, capital flows and financial sector activities. It examines how financial markets could fail, resulting in various types of financial crisis; and the roles central banks and financial institutions play in managing such crises. Specifically, the course covers topics such as the conduct of monetary policy, the operations of the banking system, capital flows and exchange rates, issues related to global imbalance, currency and financial crises, evolution of global monetary system and the reforms of the global financial system etc.

This course aims to help students understand the issues on environmental policies and business, and equip them with rigorous economics methods to analyze both domestic and international environmental issues. This course emphasizes the importance of market-based approach to environmental regulations and covers growing body of empirical evidence from the field. Topics covered include welfare economic foundations, environmental policy instruments, environmental valuation, environment and development, as well as environmental accounting and business.

This course attempts to unpack the interplay between political, institutional, and cultural outcomes and deep economic forces such as incentives and technology. The course aims to show how we can make headway into understanding these phenomena using the empirical toolkit of an economist. The approach is empirical: We will study real-world patterns instead of grand theories; employ statistical methods instead of narratives or case studies; use events, laws, and the incentives they create to explain contemporary outcomes. The topics include how laws shape incentives and behaviour, how economic incentives shape political outcomes, and the interplay between economic forces and religion. The course content will rely entirely on papers rather a text book.

This course will introduce the principles and applications of behavioral economics, with a focus on practical applications and real-world examples

Material will cover deviations from the standard neoclassical model in terms of (i) preferences (time and risk preferences, reference dependence, and social preferences), (ii) beliefs and learning, and (iii) decision-making. The course will also provide insight into the practical application these findings to topics in management, finance, health and social policy (with an approximately equal focus on each throughout the course).

This course will provide students with an understanding of the theory and practice of the economics of infrastructure provision, regulation, and policy. The first section of the course will deal with reform and governance in the infrastructure sectors and the rationale for privatization and public-private partnerships. The theoretical component will cover the rationale for economic regulation, the choice of regulatory instruments, pricing and subsidies, and design of markets and regulatory institutions for effective implementation. The analysis of these issues will be applied to several infrastructure sectors including water, telecommunications and the Internet, transportation, and electricity. The infrastructure sector is increasingly prominent on the sustainability agenda as the world confronts the urgent need to mitigate climate change. Relevant case studies will also be used to illustrate the application of economic principles to policy in specific sectors and contexts.

This course provides an overview of how economists understand economic growth and the economics of poverty and inequality. The first part of the course discusses the main factors determining economic growth and how this assessment has changed over time. It covers key data and the main theories about economic growth, special factors affecting growth, and country experience with growth, focusing on Singapore. The second part presents data on inequality and poverty, including a discussion of various poverty and inequality measures and indices; factors explaining the causes of poverty and economic inequality; the relationship among growth, poverty, and inequality; the impact of ethnic and sexual discrimination on poverty and inequality; country experience with poverty and inequality, with a focus on Singapore and the United States; and strategies for addressing poverty and economic inequality.

This course combines a close look at macroeconomic accounts with a detailed introduction to public finance. The first five weeks introduce the data needed to assess a national economy, showing how this information can be used to recommend policy changes to improve macroeconomic performance. The first three sessions introduce the accounts and main indicators for an economy’s real, external, fiscal, and monetary sectors. The fourth session discusses the relationships among the various accounts, introducing the concept of the flow of funds. The fifth session addresses how to use the information in the accounts to assess an economy and consider policy options to improve its performance.

Antitrust, competition or anti-monopoly laws aim to prevent or discourage businesses from engaging in anticompetitive behaviour. From the enactment of the Sherman Act (1890) in the United States until the 1970s, competition laws existed only in a handful of industrialized countries. In the last few decades, however, many countries around the world have adopted competition policies and established inde-pendent competition authorities. Over 130 jurisdictions have adopted competition laws. The OECD ob-served that Asia-Pacific region witness an increase in the importance of competition policy and law over the past 20 years.

The OECD also observed that economic analysis has played an increasing important role in competition policy debates and competition law enforcement in many jurisdictions around the world.

This course aims at giving students an introduction to the economics analysis undertaken in competition policy and competition law cases. The course will cover competition policy trends, market power and market definition, abuse of dominance, cartels and other anti-competitive agreements, mergers and remedies, and competition impact assessment of government policies and regulations.

This course includes concepts and tools used in econometric modelling and statistical analysis of spatial data: data on attributes that are correlated in ‘space/location’ (a.k.a. geo-tagged data). Spatial data are commonly used in regional science and urban economics (related to property prices, crime, household income, etc.), epidemiology and public health (such as disease clusters, etc.), environmental science (climate change, air pollution, ozone density, etc.), ecology, biology, geology, social interactions and network effects, and other disciplines.

We will start the course by looking at practical aspects of organising and visualising spatial data. We will also discuss how to use a coordinate reference system to give spatial awareness to a dataset and make meaningful maps – the main visual aid for spatial data. Then we will consider the statistical and econometric aspects behind spatial data analysis with a special focus on how to re-align classical statistical and econometric techniques towards spatial data for the three broad types of spatial data: (i) point patterns, (ii) areal data and (iii) geostatistical data.

Exploratory spatial data analysis methods, including various plots and tests for spatial autocorrelation, are discussed. Diagnostic tests for complete spatial randomness against spatial clustering or dispersion is an important step in the initial stages of exploratory spatial data analysis. Point pattern analysis and different methods used to measure the degree of spatial autocorrelation will also be discussed. Spatial econometric models and estimation will be discussed in terms of areal data. Spatial econometric models and methods are effective in modelling spatial dependence and thus useful in predicting attributes that are affected/related to its’ neighbours. We will focus on the main spatial regression models (spatial lag, spatial error, and spatial Durbin) with and without heteroskedasticity. The usual estimation techniques, quasi-maximum likelihood and GMM methods are discussed for model estimation and inferences. The course will end by discussing main methods of interpolation techniques used in spatial data analysis.

Applications of these techniques using R will be presented throughout the course including application examples on the assessment of climate change risks, spread of COVID cases and other diseases, economics of agglomeration, etc.

Prerequisites include probability theory, inferential statistics, and econometrics at an undergraduate level. Knowledge of R programming is useful but not required.

This course will cover the major topics in health economics. It is designed to introduce you to the issues, theory, and practice of this field. In this course, we will use methods from microeconomics and econometrics to investigate how the health care system works and to assess different policies on health care and health.

The course focuses on the economics of health and healthcare and the role of different players in the healthcare market. Topics would include the role of economics in health care, demand for health and health services, health insurance, adverse selection and moral hazard, health care suppliers (such as physicians and hospitals), the pharmaceutical market, and individual health behavior. The course is also policy-oriented. We will examine different health care systems across the world, the effects of technology and demographic changes on health care, and major health care policies. Topics would include healthcare financing, population aging, public health issues, and major healthcare reforms and policies in the world.