Chinese Economy:Curriculum-EMA at Fudan
Chinese Economy:Curriculum

The 37-credit MA program in World Economy is composed of the following courses, Chinese language courses and the MA thesis:

 

Fall Semester

COMPULSORY COURSES

CONTENTS

Microeconomics
Wu Ruochen, Assistant Professor
PhD, University of Cambridge
Credits: 3
Credit Hours: 54

This course teaches the fundamentals of microeconomics. Through the course, you will develop an understanding of microeconomic concepts and analysis, such as supply and demand analysis, theories of the firm and consumer behaviour, competition and monopoly, and game theory. You will also be introduced to the use of microeconomic concepts and analysis to address the economic problems that you encounter in everyday life.

Econometrics
Jin Fei, Associate Professor
PhD, The Ohio State University
Credits: 3
Credit Hours: 54

This course is an advanced study of the theory and application of econometrics to economic problems. The key objective of the course is to provide students tools to tackle the problems arises from economic analysis. The main topics that I will be covering include qualitative response model, maximum likelihood estimation, instrumental variable analysis, casual inference, panel data analysis, data collection and survey design, and   measurement errors. Students will be learning statistical software Stata along the way and required to complete a set of homework using Stata.

Chinese Economy
Li Dan, Professor
PhD, Boston University
Credit: 3
Credit Hours: 54

China is expected to outrun U.S. as the world’s largest economy in the 21st century. It is regarded as one of the most disruptive events to the global order. For anyone who wants to be globally literate, a basic familiarity with this most dynamic and enormous economy is a must. What factors contribute to the rise of China? How to profit from this growing and huge market? How did/will the rise affect the rest of the world? What are the challenges threatening the sustainable development of China? This course is designed to answer above questions from multiple perspectives of economy, business, culture, and politics. We will first investigate the historical legacy and its impact on current economic development. Next, we will study the major economic players (governments, various types of firms and the financial market) and their interactions. Then, we investigate human capital development and technology progress, which are believed to be the keys to future growth. In the fourth part, we identify the challenges undercutting its economic performance with emphasize on the unbalanced economic development pattern. Finally, we look at how China interacts with the rest of the world.


OPTIONAL COURSES

CONTENTS

China's Taxation System and Fiscal Policy
Zhang Ping, Associate Professor
PhD, University of Georgia
Credits: 3
Credit Hours: 54

This course is designed to introduce China’s taxation system and fiscal policy. It will start with a brief description of the level of China’s tax revenue, China’s tax legislation system, tax collection and administration system and the taxes payable in China. Then the course will cover the rules of China’s major taxes. Various elements such as the scope, taxpayers, taxable items, rates and incentives of these taxes will be discussed. After that, we will recall the major measures taken in China’s last two rounds of tax reform and try to forecast the possible steps of future tax reform. In addition, we will discuss China’s budget system, intergovernmental fiscal relationship and the major fiscal policy measures and their effects.

Micro-econometric Analysis
Wu Ruochen, Assistant Professor
PhD, University of Cambridge
Credits: 3
Credit Hours: 54

The content can be divided into four major parts. In the first part, we will introduce some estimating methods such as the GLS, GMM and MLE. In the second part, we will discuss models in Microeconometrics such as the Logit and Probit, in both the binary and multinomial cases. In the third part, different models for panel data will be introduced, including the widely used fixed and random effects models and their extensions, along with the dynamic panel models. In the fourth part, methods such as matching for treatment effects will be introduced.

Venture Capital, IPO and Merger and Acquisition
Wu Hong, Assistant Professor
PhD, University of Pittsburgh
Credits: 3
Credit Hours: 54

The primary objective of the course is to develop a comprehensive understanding of venture capital, initial public offering (IPO) and mergers and acquisitions (M&A) in both academic and practical perspectives. This course will cover all major elements of the IPO and acquisition process focusing on venture capital investment, IPO valuation and process, financing decisions, valuation, restructuring options, cross-border acquisitions, and regulatory intervention. It will cover seminal theoretical and empirical literature and current research works in this field. It will also use cases and real-world applications to develop skills necessary to prepare and evaluate the rationale for a proposed transaction and IPO.

Social  Security System and Its Reform in China
Ding Chun, Professor
PhD, Fudan University
Credits: 2
Credit Hours: 36

Through "China's social security system and its reform" course open for foreign Master students, they can have an understanding of the basic concepts of the social security system, relevant theories and the bud, the formation, the question of reform and the trends of the social security system in the world. On this basis, the establishment, development, reform and reconstruction of Chinese urban and rural social security system are introduced since the founding of New China.

International Finance
Fan Xiaoyan, Senior Lecturer
PhD, Fudan University
Credits: 3
Credit Hours: 54

This course focus on the theory and practice of international finance, introducing the concepts and theories of exchange rates and balance of payments, followed by macroeconomic policies in an open economy.

We are going to cover the most important issues of international economy in the last 20 years. Why China could export so much and accumulate huge foreign reserves? Why was the global economy seriously unbalanced before the 2008 crisis, with China and Germany in one side, while America and the southern European countries on the other side? Was the Euro turmoil just the aftershock of the American crisis, or a doomed disaster of the defective Euro system? And as to the future, what is the reform direction of the international monetary system, what is a better framework of global financial governance, and what is the trend of our global economy?

Chinese Foreign Trade
Cheng Dazhong, Professor
PhD, Fudan University
Credits: 2
Credit Hours:   36

This course is comprised of three sections. In Section I, we first introduce basic theories and approaches that are useful for analysing Chinese foreign trade. Then we look back the long history of Chinese foreign trade and pay special attention to the regime reform of Chinese foreign trade since 1978 and China’s response to the latest developments in the global economic and trade institutions. Section II investigates Chinese foreign trade pattern, structure and performance in different settings including neoclassical framework, at the industry-level as well as the firm-level, and in the presence of “trade in tasks” or “trade in value added”. The final section discusses the implications of Chinese foreign trade development for China and the rest of the world.

Foreign Direct Investment in Transition Economy
Luo Changyuan, Professor
PhD, Vienna University of Economics and Business Administration
Credits: 2
Credit Hours: 36

This course will explore the motivation and effects of FDI in host countries. The contents consist of two parts, namely general topics and special issues. As for the part of general topics, we will investigate FDI’s role in economic growth and technological progress. As for the part of special issues, we will focus on inward and outward FDI in China. In this part, the first 5 sessions will discuss facts and effects of inward FDI in China. The last session will turn to outward FDI in China.

Corporate Finance
Wu Hong, Assistant Professor
PhD, University of Pittsburgh
Credits: 3
Credit Hours: 54

This course is a graduate level course in corporate finance. It stresses the modern fundamentals of corporate financial decision making with special reference to valuation, investment and corporate restructuring. While building upon key economic theory and accounting framework, the course develops distinctive conceptual frameworks and specialised tools for solving real world financial problems at both the individual and corporate level. The course is a blend of theory and practice. While diligent practice will make you competent in financial techniques, a good grasp of theory will help you think systematically about ways to solve a problem for which no existing technique is suitable or available. Specific topics to be covered include: bond valuation, security valuation, capital investment decisions, portfolio theory and capital asset pricing model, corporate capital structure, cost of capital, dividend policy and mergers and acquisitions.

Urbanization in China
Wang Zhi, Associate Professor
PhD, Brown University
Credits: 2
Credit Hours: 36

The goal of this course is to give students an understanding of how to apply the latest thinking and research in economics to analyse a series of topics related to urbanization in China.

Note: In addition to the courses above, we have series of short-term courses named after Pro. Jiang Xuemo which are taught by the esteemed scholars from all over the world, normally with 1 credit each. According to the latest graduation rule for degree student, you have to take at least 1 short course during your 1st academic year. Course of each semester is subject to change.      


Spring Semester

COMPULSORY COURSES

CONTENTS

Macroeconomics
Qiu Shi, Assistant Professor
PhD, Indiana University Bloomington
Credits: 3
Credit Hours: 54

The level of this course is intermediate macroeconomics. Macroeconomists are interested to know how far the standard model can explain consumption, investment, unemployment, business cycle, economic growth, money demand ... A bit stretched perhaps, policy implications can be obtained based on relevant frameworks. In the end of the course, students are supposed to know how to solve basic models, and how to map from theory to reality.

 

OPTIONAL COURSES

CONTENTS

Advanced Study on Chinese Finance
Shen Guobing, Professor
PhD, Zhejiang University
Credits: 3
Credit Hours: 54

This course is aimed to enable students to grasp the basic knowledge introduction to   Chinese finance, and apply core advanced economic theory and quantitative methods to the issues of Chinese finance, through lecture learning, literature reading and case thinking.

China's  Financial System
Yang Qing, Professor
PhD, Fudan University
Credits: 3
Credit Hours: 54

Overview of China’s financial system, the banking and intermediation sector, understanding China’s interest rates, central banking and the conduct of monetary policy, money and inflation, financial intermediation and credit policy in economic development, the interaction between monetary and fiscal policies, the money markets, the capital markets, the mortgage markets, debate on RMB exchange rate policy, commercial banking industry, banking regulation, securities and investment funds, and financial system and economic performance.

World Economy and China
Lu Hanyin, Associate Professor
PhD, Fudan University
Credits: 2
Credit Hours: 36

This course examines the implications of China's emergence as a major player in the world economy. Its integration into the global economy brings major effects for the rest of the world. China's participation in the world economy also offers important opportunities for trade, investment, and international cooperation to promote world prosperity and stability.

Globalization of Chinese Firms
He Xiyou, Associate Professor
PhD, Seoul National University
Credits: 3
Credit Hours: 54

China has jumped into one of the top sources of outward foreign direct investments (OFDI) in the world, and Chinese firms are expanding their cooperation with various kinds of partners in the global context as well. The core theme of this course is emerging and globalizing of the Chinese firms in the global market. The content covers systematic topics related to the Chinese firms’ globalization including institutional background, industrial bases, driving forces, strategic decisions and implementations, competitiveness, performance and effects. Therefore, contents of the course will focus on determinants of the globalization strategy, performance and effects with comparative perspectives for deep and wide understanding. Each lecture covers one specific topic.

Topics on Development Economics
Liu Yu, Associate Professor
PhD, Yale University
Credits: 3
Credit Hours: 54

The course covers some of the central issues in recent development economics literature and introduces a variety of methodological approaches to study these issues. It draws on a broad range of research papers and emphasizes particularly on their empirical methods. The goal of this course is to transform students into researchers who can conduct independent projects related to economic development.

International Trade
Fan Haichao, Associate Professor
PhD, The Hong Kong University of Science and Technology
Credits: 3
Credit Hours: 54

The goals of the course are: (i) to introduce students to current topics of interest in international trade (ii) to help students develop skills for conducting research, including evaluating existing research, presenting their work, working collaboratively, and defining and organizing a research project, and (iii) to help students identify the topic for a research paper. In order to achieve these goals, we focus on the most cutting-edge research in international trade, with a bit introduction of necessary background classical theory. Different from traditional lectures, our class meetings require heavy discussions led by students which in turn require huge efforts from students to read, understand, organize and present.

Dissertation Writing in Economics
Zuo Xuejing, Assistant Professor
PhD, University of Houston
Credits: 3
Credit Hours: 54

This course is designed to help the graduate students to make a transition from coursework to paper writing.

Money and Banking
Wu Ruochen, Assistant Professor
PhD, University of Cambridge
Credits: 3
Credit Hours: 54

The course aims to give students an overview of the financial markets and an understanding of the theory and practice of monetary policy. The topics will be a blend of theoretical modelling and empirical/historical discourses.

Quantitative Analysis of Financial Time Series
Fu Zhonghao, Assistant Professor
PhD, Cornell University
Credits: 3
Credit Hours: 54

This intermediate course of time series analysis focuses on the economic intuition and theoretical justification behind the econometric modelling of financial time series process. It starts with the basic concepts in time series analysis and the stylized facts of financial time’s series data and then covers the univariate and multivariate time series with topics including ARIMA models, volatility models, VAR models, factor models, forecasting time series, model selection, unit root, and structural changes. This course emphasizes the application of time series models in financial data.

Note: In addition to the courses above, we have series of short-term courses named after Pro. Jiang Xuemo which are taught by the esteemed scholars from all over the world, normally with 1 credit each. According to the latest graduation rule for degree student, you have to take at least 1 short course during your 1st academic year. Course of each semester is subject to change.