Fall 2010
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BPUB 201: Political Economy of Social Policy (Also listed as BPUB 770 - The Political Economy of the Public Sector)
This course explores the economics and politics of public policy to provide an analytic structure for considering why, how, and with what success or failure government intervenes in a variety of policy areas: the environment, income redistribution, social security, health care, regulation/deregulation. Finally, the course examines the increasing importance of allowing competitive markets to provide publicly funded services, taking advantage of private management approaches to fostering innovation in public management: vouchers (for medical care, education and housing), and contracting with private firms for provision of “public” services.
BPUB 203: Business in the Global Political Environment
The environment of business has market and nonmarket components. The market component is characterized by the economics of an industry and a firm’s position in it. The nonmarket component is the broader political, regulatory, legal and civil context in which companies function. In four portions, this course addresses how businesses interact with political and regulatory institutions, the law, and the public. The first portion analyzes the economic rationale for legislation and regulation in the presence of market failures. The second portion examines the messier realities of “political economy” and the actual making of laws and regulations by imperfect politicians and regulators. Third, the course addresses more squarely the ways that firms and managers can and do shape their nonmarket environments, as well tools to help managers think through related nonmarket decisions. In the fourth portion we will cover topics in financial regulation. Successful business leadership requires strategic thinking not only about market factors, but also about political, regulatory, public and other nonmarket factors.
Professor Santosh Anagol Section 001: TR 10:30-12:00 pm
Section 002: TR 1:30-3:00 pm
Section 003: TR
3:00-4:30 pm
BPUB 206: Urban Public Policy and Private Economic Development (Also listed as BPUB 772 / REAL 206 / REAL 772 / REAL 972)
This course considers the pervasive interactions between real estate developers and government. Governments influence real estate development in many ways: through zoning laws, taxes, public expenditures, impact fees, infrastructure, building codes, environmental regulations, to name just a few. Private real estate developers are the prime movers in determining urban development patterns. Thus, we will consider how private development is influenced by, and influences, government regulation, the government policies listed above and how governments influence and respond to private activity.
As a "case study" of this interaction between government and real estate developers and markets, we will consider one of the major policy interventions currently being advocated, adopted, and considered by governments throughout the country - growth controls or smart growth to deal with the alleged problem of urban sprawl. To this end, we will consider what is meant by urban sprawl, why it is considered a problem - by whom - why growth controls are considered a solution to the problem, the possible effects of growth controls on various groups, the views of developers about both urban sprawl and growth controls. Several guest lecturers from the private, not-for-profit, and public sectors are scheduled to make presentations.
Course Syllabus
BPUB 210: Firms, Markets and Public Policy
Prerequisites: Managerial Economics
This course develops a formal approach to the study of industrial organization: it analyzes the behavior of firms, the structure of markets, and the role of public policy in protecting the interests of consumers and ensuring market competition. The first goal of the course is to develop the basic intuition for pricing and other forms of strategic behavior on the part of firms when faced with complex patterns of consumer demand and strategic competitors. The second goal is to use the theoretical insights to analyze the economic underpinnings of select antitrust cases and public policy design.
The course is divided into six parts. We begin by studying optimal pricing policies and market segmentation strategies, including the role of advertising and information, in the first two parts of the course. We then apply game theory to the study of oligopoly interaction, focusing on dynamic settings and the antitrust concerns that such raise. Next, we study how the government procures goods and services, including the performance of public enterprises. We then analyze policy making related to information and network industries. In the final part of the course, we study the role of public policy in affecting firm behavior, ranging from firm entry and vertical arrangements to mergers and acquisitions.
Professor Katja Seim Section 001: MW 1:30-3:00 pm
BPUB 230: Urban Fiscal Policy (Also listed as FNCE 230/REAL 230)
Prerequisites: Introductory Economics, Finance 101
The purpose of this course is to examine the financing of governments in the urban economy. Topics to be covered include the causes and consequences of the urban fiscal crisis, the design of optimal tax and spending policies for local governments, funding of public infrastructures and the workings of the municipal bond market, privatization of government services, and public financial systems for emerging economies. Applications include analyses of recent fiscal crises, local services and taxes as important determinants of real estate prices, the infrastructure crisis, financing and the provision of public education, and fiscal constitutions for new democracies using South Africa as an example.
Course Syllabus
Professor Robert Inman Section 401: MW 9:00-10:30 am
BPUB 250: Managerial Economics
This course introduces students to "managerial economics," the application of microeconomic theory to management problems. Microeconomic theory is a remarkably useful body of ideas for understanding and analyzing human behavior in a variety of contexts. Our goal in this course is to get you to internalize this body of theory well enough so that you can analyze management problems. While this is a "tools course", we will be mindful of applied business problems throughout the course. After presenting the competitive model we will dwell on other market structures more like those encountered by typical firms (monopoly, oligopoly, monopolistic competition). We will spend some time on microeconomic lessons on the development and use of market power, as well as strategic interaction among firms. Finally, we will spend some time on the theory of market failure.
Course Syllabus
Professor Olivia Mitchell/Albert Saiz Section 001: MW 12:00-1:30 pm
Professor Olivia Mitchell/Albert Saiz Section 002: MW 3:00-4:30 pm
Section 201: F 10-11
Section 202: F 11-12
Section 203: F 10-11
Section 204: F 11-12
BPUB 289: Nations, Politics, and Markets
Prerequisites: ECON 2 or its equivalent; Finance 102
This course is designed for students who are interested in pursuing an
international career and for those who plan to work for industrial and
financial corporations that operate in emerging markets. The course will
deal with the economic and political problems of macroeconomic
adjustment, corruption, the transition economies, and international
financial transactions. All of these topics will be illustrated with
in-depth studies of economies in Africa, Asia, Latin America, the Middle
East, Eastern Europe, and China.
Course Syllabus
Professor Howard Pack Section 401: MW 10:30-12 PM
