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The course is designed to introduce to the student the principles of microeconomics and to critically analyze these principles in the context of public policy issues.  The foundations of microeconomics are the logic of decision-making, leading to supply and demand or the market system. The course will introduce tools to explore the fundamentals of the market system examine the behavior of consumers and firms in alternative market models, and consider public policy issues such as public goods.  The major purpose of the course then is to help students understand how economic concepts can be applied to a variety of problems.




The goal of this course is to provide students the basic mathematical tools needed for business and economics. The materials covered in this course include: matrix algebra, differential and integral calculus, differential equations, difference equations, and optimal control theory. You’re supposed to know some basic algebra, and hopefully you’ll get ready for the economics study of the rest years in this program.

“Learning by doing” is important in math classes. There are some practice questions in the textbook. Most of them will be selected as problem sets. From problem sets, you will learn how to apply formulas and properties in real question and be prepared for tests. In addition, some examples not in the book but related to economics will be discussed during class time.



This course will help you to learn about the decisions that are made when running a business. We will focus on the financial results of business decisions and how accountants inside a business report these results to people outside the business who then use the reports to make their own decisions. This balanced inside/reporter and outside/user perspective will help you whether you become a manager who makes business decisions, an accountant who reports the financial results of these decisions, or an investor or lender who evaluates the reported financial results.

The goals of this course are:

A.  Students will learn to analyze routine business transactions and events, record them in journals and ledgers, summarize recorded data, determine effects of internal value changes within the business enterprise, and prepare financial statements.

B.  Students will learn both accounting theory and practice which will prepare them for continued study in accounting or to acquire the ability to manage personal and career finances.



This is an introductory course in Mandarin Chinese (Putonghua), designed for students who have had no prior exposure to Chinese language. The emphasis in this class is to develop listening, speaking, reading and writing skills using both Pinyin phonetic system and Simplified Chinese characters. Approximately 350 words will be taught through essential real-life topics, which also introduce the social and cultural background of the language.



The main objective of the course is to enable students to understand the economic systems of China, and to analyse China’s economic phenomena using economics models and economic reasoning. At the end of the course students should have acquired a sufficient skill level to analyse economic situations of relevance to transition and development economics, regional economics, and world market integration.



This introductory course emphasizes on learning important concepts and analytical skills in dealing with macroeconomic issues.

It provides an overview of the determination of output, employment, unemployment, interest rates, and inflation. We also discuss the issues such as monetary and fiscal policies, public debt and international economic issues.

Alongside of the basic models of macroeconomics, real life examples will be used to illustrate principles.

Students are also expected to develop skills in critical thinking, mathematics and writing through data collection, presentation and group project.

This teaching also emphasizes interaction; Students are encouraged to actively participate in classes.



This module enables you to use corporate financial theory and apply it to problems faced by financial managers and corporate decision makers. At the end of the course you will have an appreciation of the financial management and control process in firms. The focus is on areas of long-term investment, working capital management and financial decisions. It will help you to understand the investment and financial decision making process in a corporation. Finally, it will present the nature and complexity of the financial management process, especially approaches taken by firms to cope with the problem of risk



There are three broad educational objectives which are addressed in this course: first, the familiarization of basic principles of management through class participation and doing projects; second, the development of team-working skills in completing a medium size course project; third, sharpening the ability in presenting one’s own project and results.



Probability theory concerns the analysis of random phenomena. Statistics is the branch of mathematics that provides methods for organizing, summarizing, interpreting data and using information in the data to draw various conclusions. This class will cover the main concepts and methods in probability theory and statistics. At the end of this course, the students are supposed to acquire basic techniques to deal with uncertainty and analyze data so as to make rational inferences and decisions. This course is the prerequisite for many advanced economic courses, such as game theory and econometrics.

Main topics include: Probability, conditional probability and Bayes theorem, Random variables and moments, Multivariate distribution, Standard distributions, Sampling theory and distribution of statistics, Law of large numbers and central limit theorem, Point estimation and confidence intervals. Test of statistical hypotheses. Some advanced topics.



The course is designed to introduce to the student the principles of microeconomics and to critically analyze these principles in the context of public policy issues.  The foundations of microeconomics are the logic of decision-making, leading to supply and demand or the market system. The course will introduce tools to explore the fundamentals of the market system, examine the behavior of consumers and firms in alternative market models, and consider public policy issues such as public goods.  The major purpose of the course then is to help students understand how economic concepts can be applied to a variety of problems.




This course covers fundamental issues in international economics and open-economy macroeconomics, which are one of the most interesting parts in economics from my personal point of view. Each day, you can read news about the rise and fall of exchange rates, the surplus or deficit in trade, and even some catastrophic shocks on the value of currencies and the well being of people who are the currency holders. To better understand the implications of exchange rate fluctuations in the real world, we will learn about foreign exchange rates, the balance of payment, the determination of foreign exchange rates, and economic policies with different exchange rate regimes. Note that I will focus on international finance in this course and will only introduce international trade very briefly. If you are more interested in the theory and practice of international trade, please consider registering in Dr. Ouyangs course.



The purpose of this course is to give students a thorough understanding of basic financial theory and tools necessary for financial decision making. The course will be an extension of Financial Management. It will look in more detail at a range of topics in financing, including capital structure and dividend policy, raising equity and IPOs. It will investigate the issue of the management of short-term finance. Finally, it will cover some issues of corporate governance, including topics of merger, acquisitions and corporate control.


FIN904              INVESTMENT

Comprehensive knowledge of the financial markets, rigorous analytical thinking and precise mathematical derivation are required to make a good investment decision. This course aims to develop key concepts in investment theory from the perspective of a portfolio manager instead of an individual investor. It focuses on the financial theory and empirical evidence that are useful for investment decisions. Topics include portfolio optimization and asset pricing theories, as well as their applications to problems in contemporary financial practice.



Be able to conduct empirical research as an economist would do, meaning that you

   Understand standard methodology of econometrics (for cross-section and panel data)

   Know how to use econometric software

   Are familiar with other steps of research, including data collection & literature survey




Game theory as its title suggests starts as a tool for analyzing games such as chess and poker. It now develops into one of the standard tools for economic research. The application of game theory is beyond economics, it includes but not limits to sociology, politic science, and biology, etc. Besides, the strategic thinking behind game theory will also benefit you even if you are not intended to become a scholar.

The goal of this course is to provide you with basic elements of game theory and some of its interesting applications (mostly economics) while emphasizing the power of strategic thinking.



This course will study the economic impacts of environmental regulation that addresses issues in natural resources and the environment. We will start with the concepts of externalities, public goods, property rights, market failure, and social cost-benefit analysis. We will then consider the applications of these tools in various contexts, including natural resources, air pollution, water pollution, solid waste management, and hazardous substances. In addressing each of these problems, we compare public policy responses such as administrative regulation, marketable permits, tax incentives, and direct subsidies. We will also study several methods to value environmental benefits.

This course is intended for students who have taken principle of microeconomics, constrained optimization, and econometrics. The course includes readings from a large variety of topics and replication exercises. We will focus on analytical approaches that can be used promptly to do new research, replicating models that can be extended to address new questions about e.g. air pollution, global warming, water pollution, solid waste, or toxic waste.



The course introduces basic concepts and principles of health economics. The emphasis is on acquiring a set of tools and a framework within which to organize empirical analysis.

In this course, we will focus on decisions made by household members and the market for health insurance. In addition, the course will also cover undergoing National Health Care Reform policy issues in China from health economic perspective. Specifically, by the end of the semester, students should be familiar with the major economic issues in health care policy and have experience using economic policy analysis to evaluate public policy issues in health care.



This course provides an introduction to the economic analysis of labor markets. We will be discussing questions such as: How do individuals choose whether or not to work, and if so, how much? What about households: how do families decide who works outside the home and who does the dishes? How do employers decide how many people to hire? Why do some people go to college and others do not? Why do some people move or immigrate and others do not? Why do some people get paid more than others? Do women get paid less than men? How do you set wages so that employees will work harder? How do different government policies affect the labor market? etc...



This course studies the functioning of markets. It discusses the relation and interaction between market structure, firm strategies and performance. Besides normative analysis, it also gives positive implications. Topics include but not limited to monopoly pricing, including price discrimination, nonlinear pricing, bundling and product differentiation; theories of oligopoly and monopolistic competition, including quantity competition, price competition, product differentiation, dynamic games and repeated interaction; some advanced topics, such as vertical relationship, information costs and advertising, research and development, etc.



The aim of this course is to provide a general overview of the subject of urban economics. The most central theory in the following areas will be introduced: the existence of cities, urban spatial structure, land use theory, urban sprawl and land-use controls, freeway congestion, housing demand and tenure choice, housing policies, local public goods and services, pollution, crime, and quality of life.


The primary functions of derivatives in investments are hedging and speculating. This class aims at providing students the necessary skills to value and to employ derivatives to achieve their trading/investment goals. We will concentrate primarily on option pricing theories, with a brief introduction to Futures, Swaps, and other fixed income derivatives. The course combines traditional academic objectives with a practitioner’s overview of the derivative usage from the real-world perspective. The course is designed for students who are interested in learning more about quantitative finance.




This course is an overview course for individuals interested in developing a deeper knowledge of human resource management. The course will also assist students with human resource management as a career aspiration. All students will gain an understanding of how human resources management is integrated into successful organizations. By course completion, participants should have gained knowledge, which will assist them in performing in entry-level management positions.




This course presents you some concepts and techniques in operations management. It provides students with knowledge of forecasting, system design, quality, inventory management and scheduling, and project management that are widely used in manufacturing and service operations. Having done with this course, you will have a better understanding of what the importance of operations management in an organization is and how the well-managed operations will lead to competitive advantage of a company in the market.



People usually think about "marketing" as advertising – a highly visible activity by which organizations try to persuade consumers to buy products and services. However, marketing is much more than advertising alone; even the most skillful marketer cannot make customers buy things they don't want. Instead, marketing involves: (1) identifying customer needs, (2) satisfying these needs with the right product and/or service, (3) assuring availability to customers through the best combination of distribution channels, (4) using promotional activities to persuade consumers to purchase effectively, and (5) pricing it to boost the firm’s profitability and maintaining customer satisfaction as well. These decisions – product, distribution, promotion, and price – comprise the marketing mix. They are the key activities of marketing management, and are crucial to the success of a business. Failure to find the right combination of the “mix” may result in product or service failure.

The objective of this course is to introduce students to the principles underlying these activities and given opportunities to try their hands at analyzing markets and formulating strategy. More specifically,

    To introduce the concepts, analyses, and activities that comprise marketing management,

    To sharpen students’ analytical skills and show how to use them to assess and solve marketing problems,

    To help refine students’ oral and written communication skills.



This course introduces and explains the accounting information related to the primary three functions of the managers --- plan operation, control activities and make decisions. Students in this course will understand the function of managerial accounting, will be able to provide and analyze the managerial accounting control information. They will know how to calculate and analyze cost, will gain knowledge on how to produce budgets and do performance analysis. In the end, they will develop skills on utilizing accounting information to make business decisions.


The main objective of this course is to provide an understanding of the role of accounting information system, the technology, procedures, and controls that can help internal and external decision makers in an organization. The students should also be able at the end of the course to develop critical thinking skills and professional judgment. In addition, the students gain hands-on experience on using accounting software-Peachtree.



Macroeconomics is the study of the structure and performance of national economies

and of the policies that governments use to try to affect economic performance. The

issues that macroeconomists address include the following: What determines a

nation’s long-run economic growth? What causes a nation’s economic fluctuations?

What causes unemployment? What causes inflation? How does being part of a global

economic system affect nations’ economies? Can government policies be used to

improve a nation’s economic performance? In this intermediate level macroeconomics

class, we are going to introduce some macroeconomics concepts and develop some

basic models that are helpful to discuss these issues.



This course introduces the basic theoretical and analytical framework of modern financial economics, including expected utility theory, mean-variance analysis, capital asset pricing model, arbitrage pricing theory, Fama-French three factor model, consumption-based asset pricing model, option pricing model.

The prime objective of the course is to provide a rigorous treatment of theory in modern finance. Also the course is going to show how to implement structural analysis on real-life assets pricing issues. At the end of this course students should feel comfortable to catch up with new findings on financial market by themselves.

Students are expected to  1) understand the expected utility theory and competing measures of risk aversion.  2) understand the mathematics associated with the mean-variance analysis and portfolio choices by rational investors.  3) understand the economical concepts associated with the fundamental theorem of asset pricing and to appreciate its usefulness in finance. 4) be able to apply the fundamental theorem for pricing contingent claims, and to be able to establish the relationship between the price of primary securities and those of derivative securities


This course is designed to provide a general introduction to, and survey of, microeconomic theory. The topics for this course are: consumer theory, theory of the firm, market structure and competitive strategy, game theory and economic applications of simultaneous and dynamic games, as well as auctions and mechanism design. The material for this course is the study of economic agents (e.g. consumers, producers) maximizing objectives (e.g. utility, profits) in an environment of economic constraints (e.g. income, costs). This course focuses on different market structures, and different strategies in game theory, market efficiency, and practical examples and problems related to economic decisions made by individuals, firms and society. The objective of this course is to provide you with the basic ability to handle economic theory in microeconomic and game theory language, to use graphical techniques and analysis, to understand the strategies of economic agents under different market structures, to pursue further graduate studies in economics, and to understand articles in economic journals.



As a continuation of Advanced Macroeconomics I, the main objective of this course is to help students familiarize with analytic tools in macroeconomics at an advanced level. Through applying some fundamental models such as the real business cycle (RBC) model and cash-in-advance model this course bears two other goals: first, help students understand how to solve and simulate dynamic stochastic general equilibrium (DSGE) models, and confront models with data; second, allow students to get to know what is necessary to write a research paper of good quality such as: clear questions, strong motivations, relevant link to literature, solid models, and convincing results.




This is a graduate level introduction to econometrics offered primarily to first-year Ph.D. economics students. The course is designed to provide a general introduction to econometric theory and application.

The application aspect entails becoming familiar with statistical software (Stata will be used in the course).