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: Алексей Горяев

Период чтения курса: 3 марта – 27 апреля 2025

Количество аудиторных часов: 42 часа

Количество мест для студентов Новой лиги: 10

Формат чтения курса: оффлайн

Входные требования к студентам: хорошее базовое знание экономики и математики

Рабочий язык дисциплины: английский

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: Sultan Mehmood

Период чтения курса: 3 марта – 27 апреля 2025

Количество аудиторных часов: 42 часа

Количество мест для студентов Новой лиги: 10

Формат чтения курса: оффлайн

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

Рабочий язык дисциплины: английский

Health Economics is a field which has been rapidly growing in importance, not least because health care spending has been increasing steadily as a proportion of GDP around the world. However, the production of health involves much more than medical care; this course studies both what produces health as well as how we produce health care. The course will be part theory (building on microeconomic models and applications), part information-intensive and part the analysis of econometric evidence, with a strong (but not exclusive) interest in questions of major policy concern in Russia now. For the information-intensive part, a great deal will be comparative and international, and draw on materials of the OECD, World Bank and WHO. The modeling and the econometrics will draw on both seminal economics articles and - to make it live - recent working papers. As a result of the course, students are supposed to master the major models, theoretical and empirical, that help to understand health- and healthcare-provision-related behavior of individuals and institutions. The course will give special attention to healthcare organization in the leading countries and the application of cost benefit analysis to healthcare. Problem sets and research projects will accompany lectures and will provide opportunities to master the estimation techniques introduced during lectures.

Преподаватель: Ирина Денисова

Период чтения курса: 5 мая - 29 июня 2025

Количество аудиторных часов: 42 часа

Количество мест для студентов Новой лиги: 10

Формат чтения курса: онлайн

Входные требования к студентам: хорошее базовое знание экономики

Рабочий язык дисциплины: английский