This course provides a comprehensive view on the functioning of modern financial markets:
specifics of different types of securities, organization of trading, and financial intermediaries. For
each topic, we discuss both traditional financial institutions and alternatives offered by fintech.
The classes involve much interaction with students, and everyone is expected to contribute to
the discussions.

We start by discussing the specifics of financial sector and its links with the real economy. Then,
we study basic financial instruments (debt and equity) and derivatives (forwards, futures, and
options). We continue with the structure of primary and secondary markets comparing IPO with
ICO and traditional stock exchanges with alternative trading systems. Then we discuss the
organization, risks, and strategies of the largest financial intermediaries (commercial and
investment banks, mutual and hedge funds, etc.) and their fintech competitors such as P2P
lending platforms and robo-advisors. Finally, we study the main problems in the financial
industry (e.g. asymmetric information and conflicts of interest), the global financial crisis of
2008, and the role of regulators. Throughout the course, we pay attention both to the specifics of
the Russian marketplace and to global trends and perspectives.

The course pursues two main objectives. Firstly, students should get a holistic picture of the
financial system, its structure and evolution. Secondly, students should get an impression about
the main concepts and models covered by the subsequent finance courses at the program.

Преподаватель: А. Горяев

Период чтения курса: 6 марта – 30 апреля 2023

Количество аудиторных часов: 42 часа

Формат чтения курса: оффлайн

Входные требования к студентам: хорошее базовое знание экономики и математики

Рабочий язык дисциплины: английский язык

Why are some countries rich and others poor? Why are some countries democracies and others
dictatorships? These fundamental questions have animated both economists and political
scientists since centuries. In this course, we take a "law and economics" perspective to answering
these questions. First, we explore what kind of legal institutions promote economic development
and democratic accountability? Second, we take this discussion to frontier of research and ask
what are the determinants that bias judicial decisions? The goal of this course, therefore, is to
acquaint students with the seminal academic contributions as well as frontier research on the area
of empirical law and economics.

Преподаватель: S. Mehmood

Период чтения курса: 6 марта – 30 апреля 2023

Количество аудиторных часов: 42 часа

Формат чтения курса: оффлайн

Входные требования к студентам: Taking Econometrics I, II and Applied Microeconometrics course are preferred

Рабочий язык дисциплины: английский язык

Experimental economics is a relatively new and vibrant field of economics. It is based on using
controlled laboratory and field experiments with real human subjects to validate theoretical
predictions from economic models, as well as to better understand psychological mechanisms
underlying economic interactions. In this course, we will study the main methods of
experimental design and analysis of experimental data. Besides, the course provides an extensive
overview over the major topics that have been addressed by economic experiments so far. At the
end of the course, the students will be able to design their own economic experiments, as well as
to use insights from published experimental papers for the analysis of a broad set of economic
problems.

Преподаватель: К. Халмецкий

Период чтения курса: 6 марта – 30 апреля 2023

Количество аудиторных часов: 42 часа

Формат чтения курса: оффлайн

Входные требования к студентам: A successful completion of Microeconomics, Game Theory and Econometrics is necessary.

Рабочий язык дисциплины: английский язык