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The Contemporary Art Market

Historical and analytical study of the way art objects have been produced and marketed. Peculiarities of the product, applicable sales techniques, and pricing procedures. Attention to the role of dealers, auctioneers, the art of criticism and formation of preferences, and innovation. Comparative and longitudinal examinations of the evolution of practices, institutions, and the regulatory environment in art markets. Pre-requisite: ECON201D. One course.

Environmental Economics and Policy

The role of the environment in the theory and practice of economics. Topics include ways in which markets fail to efficiently allocate resources in the presence of pollution, along with the array of policies regulators used to correct those failures; the empirical techniques used by economists to put values on environmental commodities; and an examination of questions related to everyday environmental issues, particularly those confronting the developing world. Pre-requisites: ECON201D and one Statistics course; ECON208D recommended. One course.

Economics of Global Health

Examines reciprocal relationships between income, poverty and health across countries with focus on identifying effect of health on development. Addresses structural problems in delivery and quality of healthcare that arise from cultural as well as economic causes. Attention given to challenges of healthcare financing, and tension between high-tech care and basic care in developing countries. Students examine empirical evidence from interventions affecting health including infant mortality reduction programs. Focus on issues of poverty alleviation and the promise of foreign aid.

Health Economics

Economic aspects of the production, distribution, and organization of health care services, such as measuring output, structure of markets, demand for services, pricing of services, cost of care, financing, mechanisms, and their impact on the relevant markets. Pre-requisite: ECON205D or PUBPOL303D. One course.

Time Series for Financial Analysis

Theoretical/empirical tools & techniques in financial econometrics for modeling conditional distributions in discrete time. Topics include modeling conditional mean through ARMA models, variance through GARCH models, and exploring alternative distributions to capture conditional asymmetry and fat tails. Models used in finance to measure value-at-risk of portfolios, price European options & forecast term structure of interest rates.

Medical Malpractice

Seminar will focus on each of four medical malpractice “system” markets. Students will write a term paper on one aspect of one market. A book and readings from journal articles will be assigned. The seminar will be of interest to anyone who wants to learn more about medical malpractice, tort, how legal markets and insurance operate, and the political economy and ethical implications of “tort reform.” One course.

Regulation and Deregulation in Public Utilities

Explores historical basis for regulation of public utilities, with focus on energy utilities, from an economic and legal perspective. Application of standard monopoly microeconomics leading to rate of return regulation is developed leading to discussion of evolution of economic thought on electric power system economics and changes in some states to “deregulate” the regulation of electricity markets. Case studies of recent developments in these markets, market clearing entities (e.g.

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