Master
2023/2024
Introduction to Economics and Finance
Type:
Compulsory course (Environmental Economics and Sustainable Development)
Area of studies:
Economics
Delivered by:
Faculty of World Economy and International Affairs
When:
1 year, 1, 2 module
Mode of studies:
offline
Open to:
students of one campus
Master’s programme:
Environmental Economics and Sustainable Development
Language:
English
ECTS credits:
6
Contact hours:
48
Course Syllabus
Abstract
The course provides students with fundamentals of economics and finance necessary to pass further courses related to environmental issues. The course consists of three parts: microeconomics, macroeconomics and finance. The part devoted to microeconomics consists of such topics as consumer behavior theory, monopoly and price discrimination, oligopoly, etc. Special attention is paid to market failures (externalities) and regulation of public goods. The part on macroeconomics demonstrates the instruments of economic analysis of various macroeconomic policy problems. It examines the problems of business cycle in a closed and open economy, as well as the problems of long-term economic growth (based on Solow and endogenous economic growth’s models). Much attention is paid to the analysis of the mechanisms and consequences of stabilization policies in a closed economy (fiscal, monetary, and redistributive) and in an open economy (fiscal, monetary, and foreign exchange) and to the assessment of their comparative effectiveness.The part on finance introduces the basic concepts and indicators of financial analysis and shows students the logic of financial flows circulation at the micro- and macroeconomic level. The course describes different types of financial markets and financial instruments. It also provides students with the principles of taking financial decisions at the micro-level.
Learning Objectives
- to provide students with economic way of thinking
- introduce the students to core concepts and standard methodological tools that lay the foundation of modern economics and political analysis and decision making
Expected Learning Outcomes
- to use the knowledge frontier achieved by modern economic theory and the prospect of its expansion to solve applied issues related to ESG
Course Contents
- Topic 1. Economics as theory and as applied science. Thinking like an economist.
- Topic 2. Is Marginalism an applicable theory?
- Topic 3. Demand, supply and their interaction
- Topic 4. Firm’s theory
- Topic 5. How do work market structures
- Topic 6. General equilibrium of competitive markets and its failure
- Topic 7. Economic Growth and Cycles
- Topic 8. Government macroeconomic policy
- Topic 9. Economic theory frontiers
- Introduction to the finance
Assessment Elements
- Mini tests (Finance)Mini tests
- Homeworks (Finance)Problem set on cash flow discounting, practical task on financial statements
- Final test (Finance)Final test (Finance)
- Class activities (Economics, part 1)Students are expected to study recommended literature before sessions and to participate in discussions with the lecturer and other students
- Class activities (Economics, part 2)Students are expected write short essays which describes applications of learned concepts, theories in real situations
- Class activities (Economics, part 3)Students are expected to solve tasks and cases
- Final test (Economics)An exam based on all material of the semester
Interim Assessment
- 2023/2024 2nd module0.06 * Class activities (Economics, part 1) + 0.06 * Class activities (Economics, part 2) + 0.18 * Class activities (Economics, part 3) + 0.3 * Final test (Economics) + 0.2 * Final test (Finance) + 0.12 * Homeworks (Finance) + 0.08 * Mini tests (Finance)
Bibliography
Recommended Core Bibliography
- Brealey, R. A., & Allen, F. (2015). Principles of corporate finance. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.BEEE7487
- Corporate finance, Brealey, R. A., 2006
- Economics : an analytical introduction, Witztum, A., 2005
- Economics : AS level and A level, Bamford, C., 2002
- Economics, Begg, D., 1994
- Economics, Yates, C. S. J., 1989
- Financial markets and institutions, Mishkin, F. S., 2006
- Fridson, M. S., Alvarez, F., & FinancePro. (2011). Financial Statement Analysis : A Practitioner’s Guide (Vol. 4th ed). Hoboken, N.J.: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=517757
- The theory of the firm : microeconomic with endogenous entrepreneurs, firms, markets and organizations, Spulber, D. F., 2009
Recommended Additional Bibliography
- A short course of economics, Blake, D., 1993
- The economics of money, banking and financial markets, Mishkin, F. S., 2007