2. Course Description

Course Description

Public Economics: This course provides a basis for the economic analysis of public policy issues. As a field of applied microeconomics, public economics analyzes the role of the public sector in market economies, the implications of public policies on individual behaviors and its consequences for individual welfare. After an introduction to public economics and a brief review of the principles of microeconomics, we study the fundamentals of welfare economics to understand when markets work well, and when and in what ways they do not. We then focus on the theories of public expenditures and taxation with analyses on the actual applications of these policies. This course is particularly suited for those who are seeking topics for their M.A. thesis in such areas as optimal taxation, cost-benefit analysis and public choice.

Applied International Trade Analysis: This is a course in International Trade and focuses on the trade issues between nations and people. The course will cover a number of issues both theoretical and empirical in international economics. The fundamental theories of trade and trade policies will be reviewed and empirical studies of some of these theories will be critically examined. The final third of the course will cover some empirical methods in “gravity models”, “exchange-rate pass through” and import demand functions.

Environment and Economic Development: The objectives of this course are: a survey of the principal theories/studies of Capital Accumulation and Reproduction and Multi-Sector Analysis; to gain a deeper understanding of the principal theories/studies of Economic Development, Investment Decision and Multi-Sectoral Growth; and, to gain a better understanding of Non-Linear Dynamics, Disequilibrium Dynamics and the notion/indicators about Sustainable Development.

Economic System and Industrial Structure: The course provides theoretical and empirical studies of economic systems from a comparative institutional perspective. First, students acquire the basic knowledge of the theoretical framework of institutional economics and the main institutional arrangements of Japanese systems: the main bank system, subcontractors, and long-term employment as well as those of the Chinese economic systems. Second, students will study the structuralist macroeconomic theory of growth and distribution based on national income accounting and the applied analysis of long-term development of the Japanese economy. Third, the theoretical framework of Input-Output Analysis which is used to analyze changes in industrial structures and how it is applied to the Japanese economy is studied. Fourth, institutional changes in the Japanese and Chinese corporate systems and structural changes in the Japanese and Asian economies which are promoted by economic integration with East Asia are considered.

Applied Macroeconomics: This is a graduate level lecture on exchange rates and open-economy macroeconomics. We will learn various models of exchange rate determination and the non-stationary time-series analysis of the exchange rate behavior. We will also consider exchange rate issues based on the new open economy macroeconomics. Finally, recent dabates on regional monetray integration and optimal exchange rate will be discussed.

Applied International Economics: International Economics is comprised of essentially two subfields: International Trade and International Finance. This course will focus primarily on the former, in which we will study the theoretical underpinnings for the gains from trade, the costs of trade protectionism, and the inevitable short-run redistribution of income that occurs as countries interact more and more with each other. This course will give you the fundamentals to understand what economists mean when they say “Globalization is Good.”

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