Major B1 International economics and

governance

The content for option B, Major B1 is provided in the tables below. It is composed
of blocks of courses for all the corresponding cohort and of blocks in which
students can choose between different special focuses (SF).

The 1st year at the Berlin School of Economics and Law (BSEL)
Students choosing option B (Major B1) spend a whole year at Berlin. The year
will be structured in six blocks aimed at providing in-depth skills in macroeconomics
and governance and to discuss current issues in international economics. The
blocks 1, 2 5 and 6 are courses designed for all the students at BSEL (options B
and C, Major C2).
The first block (Semester 1) deals with International macroeconomics and
economic policies. It comprises courses given by world leading academics
specialised in economic policy in their particular fields. They will emphasise
theoretical and political controversies in order to provide the students with a critical
and open approach to economic policy in the age of globalisation. This block
includes the following courses.
Macroeconomics (by E. Hein) a renowned Professor, formerly Senior Researcher
at the Macroeconomic Policy Institute (IMK). The course provides an overview of
the main paradigms in macroeconomics at intermediate/advanced level focusing on
modern versions of New Keynesian and Post-Keynesian macroeconomics. It includes
discussion of different paradigms in macroeconomics (neoclassical synthesis,
monetarism and new classical economics, new Keynesian economics and the New
Consensus, post-Keynesian macroeconomics).
International economics (by T. Evans) is delivered by an expert on policy related
to international economics. Professor Evans for many years worked at the Central
American Institute for Economic and Social Research (CRIES) in Managua,
Nicaragua. His course should provide students with critical understanding of the
principal theoretical controversies, historical developments and current policy
debates in the field of international economics. The first part of the course will
address international trade; the second part will focus on international monetary and
financial developments.
This block of courses will also have participation from external speakers (e.g. in
2009-2010, T. Palley (New America Foundation, Washington), on Americas
exhausted paradigm: Macroeconomic causes of the financial crisis and great
recession and S. Sen (Institute of Studies in Industrial Development, New Delhi) ,
on China and India and the current global crisis).
The second block (Semester 1) addresses Development policies and global
governance. It will develop the role of institutions in the global economy through an
interdisciplinary approach which will introduce historical patterns and sociological
dimensions related to economic policy.
Global governance (by B. Mahnkopf) will provide a basic understanding of the
fundamental redesign of political and economic arrangements, including the worlds
formal and informal rules. The course develops an understanding of the different
goals and instruments available to actors such as government representatives at
national, regional and international level, civil society activists and private
corporations. Case studies of some of the key processes involved in global
governance will be addressed in detail. These case studies will be chosen with input
from the students and will deal with environmental governance, peak-oil, and trade in
agro-fuels, transnational corporations and protection of human and labour rights, EU
policies and their impact on developing countries, regulation of access to water as a
global public good, regulation of transnational migration, knowledge as a global
common good and the role of intellectually rights protection, corruption,
geoeconomics and geopolitics in a global economy.
Development economics (by H. Herr). Professor Herr has acted as expert adviser
to several prestigious administration (German Ministry of Economic Development
and Co-operation, the International Labour Organization (ILO), the Bundesbank
Berlin, Peoples Bank of China). The course will emphasise questions related to
poverty (gender and poverty, where the poor in the world live, how poverty has
developed in recent decades). Different development strategies will be discussed,
including those employed by the major international institutions, along with the
extent to which they have been successful or not. Case studies from developing
countries across the world will be used to provide a deeper understanding of the
development models. The Millennium Development Goals, the World Banks
savings-gap model, The Washington Consensus, boom-bust cycles and twin-crises,
Capital controls, dollarisation, free trade and Lists infant, gender, trade and poverty
will be some of the issues addressed in this course. Each year, actors involved in
global governance will be invited as external speakers (e.g., in 2009-2010: H.
Elshorst (Transparency International) on Fighting Corruption, K. Schilder (Terre
des hommes) on NGOs in the UN System, J. Lilliestam (Potsdam Institut fr
Klimafolgenabschtzung) on Enviromental Governance, A. Strate
(Bundesminsiterium fr Wirtschaft) on Export Initiative of the German Government
in Renewable Energy Technologies).
The third block (Semester 2) deals with Contemporary economic policies for
globalisation. It is composed of two courses.
Current issues in international economics (by B. Mahnkopf and H. Herr) starts
from the financial crisis which developed into a full-scale global, systemic financial
crisis affecting both industrialised and developing countries. The course proposes a
programme of research and debate focused on the various dimensions of the crisis, to
explore current and future possible developments. Examples of the issues to be
considered include: the environment and migration nexus, adaptation to climate
change in the global South, green Keynesianism or economic policies to reduce
growth, carbon trading schemes, alternatives to the international and national
financial systems, speculation and the global food crisis, fiscal policy, government
debt and long-term development Following an introduction by the lecturers,
students will form small research groups each of which will focus on a particular
question and then present their results to the whole class.
Political economy of modern capitalism (by T. Evans). The course begins by
examining the emergence of industrial capitalism, and whether it was growth in
world trade or domestic agricultural developments that were the key factor. The
development of capitalism will be examined in phases related to the organisation of
work, structure of the firm, functions of the state, nature of the monetary and
financial system, and the role of trade and the world market. A major part of the
course will be devoted to examining the specific features of the new phase of
capitalism that began in the 1980s, including the role of global financial markets, the
importance of multinational corporations, and the emergence of major economic
powers in the developing world. A key concern throughout the course is to identify
the interactions between economic and political factors, driving capitalist
development.
The fourth block (Semester 2) deals with Institutions, growth and distribution. It
is composed of two courses.
Growth and Distribution (by E. Hein) starts from the empirical development of
income distribution and growth in the major OECD countries. Students will learn
how distribution and growth issues are treated in different economic paradigms. Post-
Keynesian models will be studied in depth and applied to development since the
1960s. Invited external speakers will deliver lectures on related fields (e.g. in 2009-
2010, P. Dnhaupt (IMK), on Financialisation and the rentier income share:
evidence from the USA and Germany).
Institutional Economics (by M. Kronauer) is a course divided in two parts: the
first focuses on international institutional economics, the second on a particular set of
institutions (welfare states) and the impact of globalisation on the provisioning of
welfare. The course demonstrates the importance of social rules for economic
interaction and cooperation but also the need for embedding markets in non-market
rules to ensure the well-being of people and societies. It should foster an
understanding of institutional variety and the social and economic consequences in
international comparisons and discuss the impact of globalisation on institutional
change.
The fifth block relies on tutorials and methodology involving classes, group
attendance and self-study (on a yearly basis). This will help students to formulate
their research questions and provide ongoing support for the Masters dissertation.
It will include an assessment of options in light of provisional career plans (not
graded), guidance on successful study methods, and guided reflection on study
progress and professional perspectives.
The sixth block is related to the study of languages (on a yearly basis). Introduction
to French will be mandatory for students with no knowledge of the French
language. There will be opportunities to study German (at beginners or advanced
levels) and advanced English (including academic writing).
The first five blocks will provide consistent and high-level training in
macroeconomic, financial and development policies on an interdisciplinary basis
and include participation from professionals and external speakers. Consistent with
the aims of the EPOG Masters Course, they will provide specific expertise and a
general understanding of the interdependencies among economic policies in a
globalised economy.
All the Masters courses at the Berlin School of Economics and Law will be taught
in English.
Course details (teaching hours, ECTS, teaching staff) for the 1st year.
Semester 3 at the University of Paris 13
Option B students will have to choose between two special focuses (SF):
macroeconomic policy and financial regulation. Similar to the other options, the 3rd
semester for option B is divided into five blocks (+ the induction month),
characterised by an important focus on macroeconomic and financial policies.
The participation of professionals (from banks for the special focus on financial
regulation) and world famous external academics (especially for the focus on
macroeconomic policy) will be special features of this semester.
The first block deals with Macroeconomic and financial policies. It comprises three
courses:
International macroeconomics (by J. Mazier) which is a common course for
students taking options B and C (see the above description). All option B students
will automatically be integrated with the second year level (which complements the
courses taught in Berlin during the first year).
Financial instability and international regulation to be delivered a world
leading economist in the field (D. Plihon). The course will focus on the financial
dimensions of globalisation and is aimed at providing a good understanding of the
mechanisms behind financial crises, and presenting major trends towards financial
regulation at the European and international levels. The major issues that will be
addressed are: the theories of financial crises, the different paradigms and the recent
debate on the causes of crises in developed countries and emerging market
economies, the instability of finance-led capitalism, new trends in regulation in the
aftermath of the subprime crisis, the role of central banks with respect to financial
stability.
Financial strategies and international accounting (by Y. Biondi). This course
will be given by a CNRS researcher, a former financial analyst and project manager
in the executive managerial team of a leading Milan bank (European Bank Group,
Corporate Headquarters) where he acquired sophisticated skills in risks assessment,
structured finance, and financial-economic modelling of investment projects. This
course will provide important skills and knowledge on both theoretical and practical
aspects. It will address control, governance and regulation of business and non-
business organisations in the global arena. International accounting standards,
financial performance analysis and measurement, financialisation of corporate
governance and behaviour, and financial-economic engineering arrangements will be
discussed in order to understand current corporate and regulatory practices and
regulations, their transformation over time, and their implications for public policy,
socio-economic development and public interest. The course will be organised to
include general courses with academic teachers, case studies and invited speaker
courses (auditors, financiers, regulators, financial analysts, policy-makers).
The second block will develop students knowledge and skills in quantitative
methodologies through two courses that are the same than the one offered for the
students of option C (see above description).
The third block includes two special focuses to allow students to deepen their
expertise on one of the fields related directly to their option:
SF1-B: Post-Keynesian economics and economic policies is related to the study
of international institutions and post-Keynesian economics (continuing the courses
taught in Berlin). Institutions and international finance (by R. Guttman)
addresses the institutions involved more specifically in financial regulation. It
includes three interrelated topics: the international monetary system and the sources
of its instability, finance-led capitalism, and systemic crises in finance-led capitalism.
Management of crises, the impact on the Eurozone and possible reforms are
discussed in detail. Post-Keynesian economics (by D. Lang) will provide training
in the analysis of macroeconomic cycles and crises. It covers the role played by the
financial and banking sectors in globalised economies, the nature of the finance-led
growth regime and the recent crisis, international disequilibria and their persistence.
The role of income distribution and other economic policies to help prevent such
events are emphasised relying on the latest post-Keynesian developments. A special
focus on the relationship between macroeconomic modelling and an explanation of
business cycles, and between Kaleckian models of growth and income distribution
and Kaldorian models with path dependency and cumulative causation.
SF2-B: Financial regulation is made of one course already described above:
Institutions and international finance (by R. Guttman) and one specific course
dedicated to Financial theory and portfolio management (by N. Rey).
As for the other options, students will attend joint seminars (4th block) and
optional training in languages (5th block). The philosophy is the same than for the
other options (provide interdisciplinary approach and skills through the participation
of professionals, same language policy).
All mandatory courses will be taught in English (i.e. blocks 1, 2 and 4). At least one
of the special focuses (block 3) will be taught in English, allowing students that
want to study only in English to do so.
Course details (teaching hours, ECTS, teaching staff) for Semester 3.
Semester 4: Masters dissertation