Applied Economics

COURSE OVERVIEW
The course shows how analytical tools and data can be used by economists to address economic issues,
including inequality, economic growth and innovation, and economic crises. Students will learn how to use
economic analysis to reach reasoned conclusions about the drivers of these issues and the keys to
anticipating, preventing, and managing disruptions. The course will explore how economics is used in
professional, policy, and research settings. It will help students interpret economic news and economic 
data at a much deeper level while also forming their own opinions on economic issues and policy
responses.

LEARNING OBJECTIVES
1. Deepen understanding of the concepts and techniques presented in the courses of Fundamentals of
Microeconomies, Fundamentals of Macroeconomics and/or Introductory Economics through the
discussion of the big issues of the day in which these concepts are important to the interpretation of policy
dilemmas and policy choices.
2. Use specific cases to discuss major, topical, issues in economics thinking and practice. This will include
attention to issues and debates on topics such as growth, crises, inequality, unemployment, and the role
of the state.
3. Develop professional skills of succinct presentations of diagnosis and design in an economic analysis
and/or policy-making context. This will be achieved through preparation of assignments (policy memos and
op-eds), participation in class discussion, and one formal group project.

COURSE CONTENT
For the majority of sessions, there will be a focus on a specific domain of economics. The classes will
normally devote the first 30 - 60 minutes to a faculty-led discussion of how the assigned readings fit into a
larger scholarly context – that is, situating them in the larger set of debates, ideas, and perspectives that
animate this particular corner of this macroeconomic challenge and possible policy responses. Two
students will co-lead this part of each class.

COURSE OUTLINE
The course is very flexible, and students will be able to choose from a list of topics that are current in the
world’s agenda. The list of proposed topics includes:
o Are the rich get richer and the poor get poorer? Should we worry?
o Is the Economy Threatened by Secular Stagnation in Economic growth and productivity?
o Does the rise of the Asian Giants threaten economic growth in developing countries?
o What are the right economic policies for hard times?
o What lead to the last Global financial Crisis and how can prevent the next one?

Each session will be devoted to a topic. The classes will have a Debate format and readings will include
ted talks, pod casts and articles in the Economist and other general interest economic journals.
Examples of the proposed assignments include group debates in the following formats:
o Assignment #1: Is Growth all we Need to Fight Inequality? Two Side Debate Using Charts
o Assignment #2: Economic Policies in a Changing World: List of Ideas
o Assignment #3: Will everything be produced in China? Two Side Debate Using Charts
o Assignment #4: Are countries, workers and firms less vulnerable to financing shocks than before the last
global recession? Case study
o Assignment #5: Prime Minister’s Questions
The course will also include an introductory session where the course outline and logistics will be
discussed, the major macroeconomic challenges (historically, now and for the course) will be selected,
and why and how Governments should intervene will be debated. The course will end with a final session
entitled “Critical reflection” where the following topics will be covered: (i) Using Data to Solve Economic
Problems: New Methods and Instruments, (ii) Economists on Building a Better Society, and (iii) What is
Next in Economic Policy?