2000-01 Bulletin Entry for:


Graduate School of International Economics and Finance


Objectives


The Graduate School of International Economics and Finance is designed to help students recognize and respond to the challenges of the emerging global marketplace. Each of the programs in the school addresses the complex responsibilities decision-makers in business and government face in their professional environments.

The Lemberg M.A. Program in International Economics and Finance offers a two-year professional Master of Arts degree for students planning careers with corporations, financial institutions, government, and international organizations. The program integrates management and international relations perspectives; it addresses the practical tools of international finance as well as the economic and political forces that shape world commerce. One semester of the program is spent abroad at one of 19 affiliated universities in Europe, Latin America, or the Far East.

An accelerated, one-year track of the Lemberg M.A. degree exists for midcareer professionals and other individuals with substantial related work experience. The one-year program begins annually in September and ends in August of the following year.

Students in the M.B.A. International (M.B.A.i.) receive in-depth training in technical analysis and strategic issues, and gain an understanding of managerial issues. As in the Lemberg M.A. Program, they must show mastery of a major language other than English and spend a semester studying outside of the United States. During their studies, they work in multicultural teams; emphasis is placed in acquiring an appreciation for international differences in values and behavior, which are critically important in today's workplace. The curriculum consists of three semesters (12 courses) at Brandeis and one semester abroad.

The internationally focused curriculum, language requirement, study abroad component, and multicultural aspects of the Brandeis M.B.A. distinguish it sharply from "generic" M.B.A. degrees. M.B.A.i. students receive training in all the major subjects included in a traditional M.B.A., such as economics, accounting, control, finance, marketing, operations, organizational behavior, and business policy. But they learn these subjects in an international context; case examples are derived from international firms, and analytical models involve international applications.

The M.S. in Finance (M.S.F.) is a 10-course, part-time program that provides rigorous training in the quantitative and analytical tools of modern finance with an emphasis on international 4applications. There are six core courses in the M.S.F. program with the other four being selected from the broad array of Graduate School electives in international finance and international business. This program accommodates the schedules of working professionals by offering year-round evening courses. It may be completed within five semesters.

The Ph.D. Program in International Economics and Finance provides advanced training in economic theory, research techniques, and creative problem-solving in an integrated global economic framework. Concentrations are limited to four special fields: international trade, international finance, international business, and development/transition economics. Analytical and problem-solving skills are fostered through involvement in applied research, internships, and focused workshops in a flexible, small-group environment. The training prepares students for careers in teaching, research, and policy-making in business, government, international agencies, and academia. The program requires two years of course work, qualifying examinations, and an original thesis.

Combined B.A./M.A. Program

Brandeis undergraduate students may apply for admission to the Lemberg M.A. Program in the spring of their junior year and begin taking program courses in their senior year. Students entering as undergraduates can satisfy the master's degree requirements in one additional year of study after receiving the B.A. degree; five years of study at Brandeis University is normally required. One year of residence as a graduate student is required.

Further information regarding requirements and applications is available from the International Economics and Finance School office (Sachar 121).


How to Be Admitted to the Graduate School of International Economics and Finance


The Graduate School of International Economics and Finance has established the following criteria as the most critical in the evaluation of applicants to all GSIEF degree programs: scholastic achievement as evidenced by previous academic coursework; aptitude for graduate study as indicated by scores on the admission test; motivation, leadership, maturity as evidenced by work experience, recommendations and responses to essay questions on the application.

For specific programs, the GSIEF requires the following:

Combined B.A./M.A.: Brandeis undergraduates must apply for admission in the spring of their junior year. Applicants must submit a completed application, official undergraduate transcripts, three letters of recommendation, a personal statement and a resume. The GRE is not required, however, an interview is required.

M.A.ief (Lemberg program): Applicants should have completed one course in the principles of economics. Additional coursework in math, international relations, and foreign language is recommended. Some full-time work experience in a field related to the program is also recommended. Applicants to the M.A.ief must submit official test scores of either the Graduate Record Exam (GRE) or the Graduate Management Admissions Test (GMAT).

M.B.A.i.: The admission committee for the M.B.A.i. program places significant emphasis on work experience, leadership, and analytical skills. A minimum of two to five years of work experience is required. Applicants are required to submit an official test score for Graduate Management Admission Test (GMAT).

M.S.F.: Candidates must offer evidence of strong analytical skills and demonstrate significant work experience in finance, economics, and/or business. The Graduate Admission Test (GMAT) is required. The requirement may be waived based on significant work experience and consultation with the assistant dean for admissions.

M.S./Ph.D.: Applicants should have a significant background in math and economics. Undergraduate preparation should include courses in intermediate microeconomics and statistics, as well as exposure to linear algebra and differential, integral, and multivariate calculus. An undergraduate concentration in economics is not required. Applicants to the M.S./Ph.D. program are required to submit the results of the Graduate Record Exam (GRE) general and subject test in economics.

TOEFL

The Test of English as a Foreign Language (TOEFL) is required of all international students whose first language is not English and whose undergraduate institution was not at an English-speaking institution. A TOEFL score of 600 or better is normally required for admission.

Interview

Except for the B.A./M.A. program, an admission interview is encouraged but not required. An applicant who wishes to meet with an admission counselor should contact the office of admission to schedule an individual visit.

Additional information regarding admission requirements, policies, and procedures, is available on the GSIEF web site, at www.brandeis.edu/global or by telephoning the Office of Admission at 781-736-2252 or e-mail, admission @lemberg.brandeis.edu. The Office of Admission is located in the Sachar International Building, room 121.


Faculty


Peter Petri, Dean

International trade. Development. Japan. Asia-Pacific.

F. Trenery Dolbear, Director of Admissions

Macroeconomics. Theory and computer simulations.

Benjamin Gomes-Casseres, Director of M.B.A.i. Program

International business and corporate alliance.

Michael Plummer, Director of Lemberg Program

International trade and finance. Regional economic integration. International development (particularly ASEAN).

Rachel McCulloch, Director of Ph.D. Program

International trade theory. Trade policy. Macroeconomic coordination. Investment and technology transfer.

Chad Bown

International economics. Economic development and industrial organization.

Anne Carter

Technological change. Input/output.

Shih-Fen Chen

International marketing. Foreign direct investment. Cross-cultural consumer behavior.

Paul Harrison

Applied time-series econometrics. Financial economics. History of economic thought. Macroeconomics.

Jane Hughes

Domestic and international cash management. Third World debt, sovereign risk, and foreign exchange markets.

Adam Jaffe

Technology. Economic growth. Industrial organization.

Gary Jefferson

China. Technical progress. Open economy macroeconomics.

Sunhyung Henry Kim

International finance. Open-market macroeconomics. International trade and financial economics.

M. Ayhan Kose

Open economy macroeconomics. International economics and applied time series analysis.

Blake LeBaron

International finance. Exchange rates. Artificial stock markets.

Eric Stout

Microeconomics. Labor economics. Economics of organization. Applied game theory.

Narayan Subramanian

Corporate finance. Financial economics. Microeconomics.


Requirements for the Degree of Master of Arts


Students must successfully complete an approved schedule of at least 12 courses during their three terms of residency at Brandeis. This includes six required courses and the remainder from a list of approved electives. Students must also successfully complete an approved schedule of courses during one term of study at an affiliated foreign university. If exempted from the study abroad requirement students must complete four additional elective courses.

The one-year and two-year tracks have the same course and language requirements. The major difference is that the one-year track does not require study abroad, since the candidates' prior background is assumed to include equivalent international experience. Students in the one-year track take eight semester courses during the regular academic year and complete the last four courses in the following summer, in a specially tailored program.

Residence Requirements

Two years of full-time study will normally be required. One term of study will be spent at a foreign university associated with the program. For one-year M.A. degree candidates, 12 months of residence as a graduate student is required. For B.A./M.A. degree candidates, one year of residence as a graduate student is required.

Language Requirement

Candidates will be required to demonstrate a high level of proficiency in one foreign language.

Internship

Students are encouraged to serve as interns with a business or governmental agency in the summer following their first year of study.

Project

An optional master's project involving a thesis may be submitted no later than April 15 of the year in which the degree is to be conferred. One-year program students are required to submit a master's project during the final stage of their coursework.


Requirements for the Degree of Master of Science in Finance (M.S.F.)


Program of Study

Students must successfully complete an approved schedule of 10 courses. Six semester courses (or the equivalent) are required in the following areas: accounting principles, investment analysis, quantitative techniques, international economic environments, and international corporate finance. The remaining four courses must be fulfilled from a list of approved electives.

Residence Requirement

Students are expected to complete the requirements at their own pace. Full-time residency is not required. However, students are normally required to complete their requirements with four calendar years after beginning work in the program.


Requirements for the Degree of Master of Business Administration International (M.B.A.i.)


Program of Study

Students must successfully complete a minimum of 16 semester-equivalent courses during their four terms of residency at Brandeis, of which four semester length courses (or the equivalent) are completed during the student's semester abroad. At least nine and one-half semester-course credits must be taken within a required set of subject areas: Economic Environment of Business (one semester-course credit), Quantitative Methods (one semester-course credit), Accounting and Control (one semester-course credit), Finance (two semester-course credits), Marketing (one semester-course credit), Operations (one-half semester-course credit), Organizational Behavior (one semester-course credit), and Business Policy (two semester-course credits). The remaining course credits toward the degree must come from an approved list of electives.

Residence Requirement

Two years of full-time study are required. One term of study will be spent at a foreign business school associated with the program.

Language Requirement

Candidates are required to demonstrate a high level of proficiency in one foreign language by the time they graduate.

Internship

Students are encouraged to serve as interns with a business in the summer following their first year of study.

Concentration

Students may concentrate in one of two fields: international business or international finance. Concentration in finance requires taking four semester equivalent finance courses beyond the core courses required for the M.B.A.i.

Project

An optional master's project involving a thesis may be submitted no later than April 15 of the year in which the degree is to be conferred.


Requirements for the Degree of Doctor of Philosophy


Requirements for the degree are defined in terms of successful completion of formal coursework, outstanding performance in examinations designed to measure field competence, and substantive research activities. Students are expected to master the content of seven core courses (in the subjects of microeconomics, macroeconomics, econometrics, and finance). Normally, students will enroll in these courses during their first two years and pass a written general qualifying exam covering the core subjects. In addition to the core requirements, students must also take courses and pass oral exams in two of the four following fields of concentration:

1. International trade

2. International finance

3. International business

4. Development/transition economics

After core and exam requirements are substantially completed, Ph.D. students, in residence, are required to enroll in IEF 399a or 399b (Dissertation Workshop). This workshop provides opportunities for students to hear research presentations by faculty members and visitors, present papers in progress, and define thesis objectives.

Residence Requirement

Although there is a three-year minimum residence requirement, four years of full-time graduate study are usually required for the Ph.D.

Language Requirement

While there is no formal language requirement, students are strongly encouraged to develop a reading knowledge of a second major foreign language.

Core and Field Examinations

Each candidate for the Ph.D. must pass a written examination, offered annually, covering the core required subjects. Students must also pass written examinations in two of the four fields of concentration described earlier. The purpose of the examinations is to demonstrate competence in a broad specialty. The field examinations are offered as required.

Dissertation and Defense

All candidates for the Ph.D. will submit a dissertation in a form approved by his or her dissertation director and by a committee appointed by the chair of graduate studies. The student will defend the dissertation at a Final Oral Examination.


Special Notes Relating to the Graduate Programs


The Graduate School of International Economics and Finance provides some financial support, which may include tuition scholarships, research or teaching assistantships, and institutional loans. Aid is based on merit and need and is also available to students from abroad. American and Canadian applicants for aid must file a FAFSA form. Students from other countries must complete the financial aid form for international students that is part of the school's application. The M.A. degree program requires parents' information for all dependent students, regardless of age, and all independent students under 24. Students who fail to provide parental information may jeopardize their consideration for institutional aid.

In addition to the courses listed below, IEF students may take courses in the Department of Economics or other departments at Brandeis. A full list of non-IEF courses applicable to the degree is available in the Graduate School of International Economics and Finance catalog.


Courses of Instruction



(200 and above) Primarily for Graduate Students


IEF 200f Fundamentals of Microeconomics

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Designed for first-year M.A. students. An introduction to key theoretical concepts in microeconomics. Calculus will only be used in a very limited number of cases. Emphasizes topics important in other IEF classes, such as financial theory or international trade. Some material is applicable to courses in business strategy. Usually offered every year.

Staff

IEF 201f Fundamentals of Macroeconomics

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Prepares students for more advanced macroeconomics classes by providing the basic building blocks for a thorough understanding of current macroeconomic issues. Usually offered every year.

Staff

IEF 202b International Macroeconomics

Reviews standard international macroeconomics, including balance of payments accounting, PPP and interest parity, and the Mundell-Fleming paradigm. Advanced topics include speculative attacks against fixed exchange rate regimes, models of target zone, and stopping hyperinflations. Usually offered every year.

Mr. Plummer

IEF 203f Accounting Principles

Open only to MSF students. Meets for one-half semester and yields half-course credit

Provides a foundation for understanding the accounting principles used in private and public companies. Key accounting concepts such as financial statement analysis, income measurements, and accrual accounting are presented in a multinational context. Usually offered every year.

Ms. Hughes

IEF 204a Accounting and Financial Analysis

Prerequisite: ECON 2a. This course may not be taken for credit by students who have received credit for ECON 12a.

Introduction to basic accounting principles, including analysis of financial statements using case studies. Develops fundamental concepts and accounts and applies them to income measurement, capital values, and costs, with a focus on international accounting issues. Usually offered every year.

Ms. Hughes

IEF 204b Advanced Financial Accounting

Prerequisite: Some knowledge of accounting. Open only to IEF students. Enrollment limited to 55.

Provides an accelerated and in-depth foundation in financial accounting that is aimed at the needs of the financial decision- maker. Covers income measurement, capital values, costs, non-U.S. accounting, accounting for foreign exchange and derivatives, and MNC tax accounting issues. Usually offered every year.

Ms. Hughes

IEF 205a Financial Theory

May not be taken for credit by students who have previously taken ECON 171a. Students who have taken ECON 171a should enroll in IEF 305a.

Topics related to financial economics, including investors' attitudes toward risk, portfolio selection, asset pricing models (Capital Asset Pricing Model and the Arbitrage Pricing Model), options and future markets, the efficient market hypothesis, and the determinants of a firm's financial structure. Usually offered every year.

Staff

IEF 208a Risk Management

Covers methods of evaluating and controlling risk in financial portfolios and enterprises. Examines methods for internal monitoring and managing exposure to various types of risk, compliance with regulatory requirements and processes, and financial engineering techniques for managing risk, including the use of derivative securities. Usually offered every year.

Mr. D'Vari

IEF 210b International Corporate Finance

Prerequisite: IEF 205a.

Analysis of the exposure of the multinational firm from accounting and economic perspectives, survey of investment finance, and other international operations. Usually offered every year.

Staff

IEF 211b Case Studies in International Finance

Analysis of international corporate finance using case studies in the areas of foreign exchange exposure management, corporate capital transactions, foreign investment analysis, international banking, and investment banking. Usually offered every year.

Ms. Hughes

IEF 212a Creating and Managing Value

Introduces some of the basic decisions companies must confront when they are trying to create and manage the value of the firm. Topics include investments in new projects, debt financing and capital structure targets, mergers, acquisitions, and sales of companies.

Mr. Ballantine

IEF 213b International Portfolio Management

Prerequisite: IEF 205a

Concepts of modern portfolio theory will be applied to a global framework. Topics covered include asset allocation, portfolio selection for equities, portfolio selection for fixed income, currency management, and derivative strategies. Students will be involved on researching and presenting a paper on a global investment topic. Usually offered every year.

Staff

IEF 214a Financial Strategies

Focuses on the techniques used by financial practitioners to understand and then enhance shareholder value. Students taking the course will improve their skills in financial statement analysis, analyze alternative methods of valuation analysis, and examine an array of asset and liability restructuring techniques used by corporate managers and investment bankers to boost shareholder value. Usually offered every year.

Staff

IEF 214f Mergers and Acquisitions

Prerequisites: IEF 204a and either IEF 205a or 305a, or permission of the instructor. Open only to IEF students. Meets for one-half semester and yields half-course credit.

Reviews some of the core concepts involved in mergers and acquisitions; value, negotiation, deal structuring, corporate strategy and value added, financing, and tax consequences. Usually offered every year.

Mr. Ballantine

IEF 215b Options and Derivatives

Examines financial innovations in the securities market including futures and forward contracts, options, and swaps. Valuation of these contracts and their use as dynamic hedging instruments will be examined in detail. The role of secondary mortgage markets and the various derivative mortgage products will also be analyzed in the context of asset-backed lending. Usually offered every year.

Staff

IEF 216b Corporate Financial Operations

Focuses on the techniques used by corporate financial managers to assure liquidity and to minimize the risk of bankruptcy. In addition to liquidity assessment, we examine investment of surplus funds, cash management, risk management, credit and accounts receivables analysis, inventory management, and short-term financing alternatives. Usually offered every year.

Mr. Alt

IEF 217a Computer Simulations and Risk Assessment

Prerequisite: IEF 205a.

Examines recent advances in computational methods for evaluation risk and decisions making in risky situations. Emphasizes a common computational framework for solving many problems from business, finance, and economics using statistical methods, such as monte-carlo and resampling. Usually offered every year. Will be offered in the Fall of 2000.

Mr. LeBaron

IEF 218f Foreign Exchange Markets

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Aims to provide a systematic understanding of foreign exchange markets. The topics include participants and uses of foreign exchange markets; determination and forecasting of foreign exchange rates; and forwards, futures, swaps, and options. Concludes with several sessions using a computerized foreign exchange trading simulation program. Usually offered every year.

Ms. Hughes

IEF 219f International Banking

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Provides a survey of international banking. Topics will include structures and functions of global banks, financial innovations, syndications, offshore banking centers, supervision, and risk analysis. Students will use case studies and will form teams to perform a country analysis project. Usually offered every year.

Ms. Hughes

IEF 220a World Financial Centers

Open only to M.S.F. students. Consult the M.S.F. program administrator for details regarding special costs and meeting times. May be repeated once for credit.

Meets in a different international financial center each year. Provides an in-depth analysis of international financial markets and their likely impact on the regional financial systems. Includes examining the microstructure of markets, rules governing the trading of equities, futures and options, mergers and acquisitions, and competitive regional issues.

Mr. Simon

IEF 220f Credit Risk Analysis

Prerequisites: courses in accounting and financial statement analysis. Open only to IEF students. Meets for one-half semester and yields half-course credit.

Examines credit risk (i.e., the possibility that an obligor will fail to perform as agreed) from the perspective of the commercial banker. Focuses on a sound understanding of the firm and its business plan and how the banker constructs the appropriate structure for the senior loan. Topics include asset-based, real estate, and cash flow lending. Usually offered every year.

Mr. Bayone

IEF 221b Laboratory in International Business

Covers the internationalization of U.S. business through direct observation and participation in decisions faced by area companies. Some students research case studies describing the past export experiences of companies, while others prepare consultant reports for companies that are currently developing internationalization strategies. Students work independently in small teams supervised by faculty. Usually offered every year.

Staff

IEF 222a Investment Analysis

Required for entering M.S.F. students. Open only to M.S.F. students.

Provides a clear understanding of risk, return, and arbitrage--the underpinnings of any investment strategy. Financial models to measure and manage different dimensions of risk, identify arbitrage pricing relationships among various securities, and implement portfolio strategies are emphasized. Usually offered every year.

Mr. Chakraborty

IEF 222f Law of International Transactions

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Examines the legal regimes governing international financial transactions. Reviews legal nomenclature, the formation and performance of contracts, and legal structures affecting financial rights and interests. Various instruments will be discussed, including letters of credit, loan and security documents, prospectuses, and underwriting agreements. Usually offered every year.

Staff

IEF 223b Fixed Income Securities

Focuses on capital markets and, in particular, analysis of debt securities and markets, conventions, mathematics, and relative valuation. Emphasis is placed on factors determining market expected yields such as default risk, liquidity, terms, optionality, and structure. Usually offered every year.

Mr. D'Vari

IEF 223f Relative Values of Securities

Open only to M.S.F. students. Meets for one-half semester and yields half-course credit.

Introduces students to the issues and analysis necessary for making the decision to purchase securities. The principal focus is on publicly traded securities. Debt and equity security values will be addressed. Usually offered every year.

Mr. Aikens

IEF 224f Bond Portfolio Management

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Presents the rationale for investing in international bonds, discusses the challenges presented by investing internationally, and addresses portfolio management and risk management issues. Usually offered every year.

Mr. Steward

IEF 225b Global Marketing Strategy

Starting with a brief overview of marketing disciplines, the course will develop strategies for entering and operating in diverse international markets at varying levels of investment. The case study method will be used to examine the process that leads to a successful marketing strategy, including financial analysis, economic and geographic evaluation, cultural and political assessment, and infrastructure evaluation. Usually offered every year.

Mr. Chen

IEF 226a Financial Product Marketing

Open only to IEF students.

Focuses on the application of general marketing concepts and practices to financial services and products. Strongly recommended for students pursuing a marketing career in the financial industry. Usually offered every year.

Mr. Chen

IEF 226b Frontiers of International Finance

Consists of two parts that each explore a different area of financial theory. The first part examines the interaction between economics and investing in the real global economy; the second part examines the interaction between managers, stockholders, and corporate structure.

Messrs. Chakraborty and Harrison

IEF 226f Topics in Financial Engineering

Prerequisite: IEF 205a or 305a. Open only to IEF students. Meets for one-half semester and yields half-course credit.

Explores the core concepts of financial engineering by examining three interrelated topics: debt and capital structure decisions, company reorganization and restructuring, and international investments and finance. Each topic is used to investigate the underlying theory and management practice of financial engineering. Usually offered every year.

Mr. Ballantine

IEF 227f The Global Financial Architecture

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Several GSIEF faculty members provide perspectives on the current global financial situation. Focuses on international financial relationships and institutions rather than on solutions to specific problems. Topics include exchange rates, lender of last resort, contagion, debt resolution, and financial safety, among others. Usually offered every year.

Mr. Petri

IEF 228a Financial Innovation and Structured Finance

Prerequisites: Knowledge of basic quantitative analysis, and either IEF 205a or IEF 305a.

Introduces financial engineering innovation within the context of managerial decisions and solving vexing problems of investment management and corporate finance. A functional perspective is followed that characterizes various products by the needs they satisfy, cost factors, and exploitation of arbitrage opportunities. Case studies detail the innovation and use of recent structured securities. Usually offered every year.

Mr. D'Vari

IEF 229f Hedge Fund Management

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Covers the historical evolution of hedge funds, analyzes the regulatory government, and considers key issues in the "hedge fund universe," such as price versus value, risk versus volatility. Usually offered every year.

Mr. Gross

IEF 230b Managing International Business

Firms compete internationally through trade, foreign investment, and alliances. To succeed, they need to manage three sources of competitive advantage: country environments, firm capabilities, and government policies. Using case discussion, students analyze the international strategies of U.S., Japanese, and European firms. Usually offered every year.

Mr. Chen

IEF 232f Organizational Behavior: Managing Change

Open only to M.B.A.i. students. Meets for one-half semester and yields half-course credit

An introduction to organizational behavior focusing on managing change in large companies. Topics include the nature of organizations, leadership and motivation, organizational structures, and the dynamics of change. Case studies and projects will be used. Usually offered every year.

Ms. Lancourt

IEF 233f Organizational Behavior: Managing Cultures

Open only to M.B.A.i. students. Meets for one-half semester and yields half-course credit

An introduction to organizational behavior focusing on managing cultures and values in multinational businesses. Topics include the role of values, cross-cultural issues, and change management. Case studies and projects will be used. Usually offered every year.

Mr. Jick

IEF 234b Entrepreneurial Finances and Business Plans

Open only to IEF students.

Introduces techniques for preparing business plans and explores the process of using a business plan to acquire funding. Requires students to prepare a business plan for a new venture and to present this plan in front of a critical audience. Usually offered every year.

Mr. Reed

IEF 235b Entrepreneurship

Addresses the fundamentals of starting and growing a business, including entrepreneurial finance and financial management. Covers theory and practice, and includes presentations by speakers engaged in entrepreneurship, underwriting, and venture capital. Assignments include a team project to construct a business plan for a startup company using actual data. Usually offered every year.

Staff

IEF 236f Transnational Negotiations

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Explores the dynamics of international business negotiations in the context of evolving global industries. Students will develop an understanding of negotiation strategy, positioning, and process, as well as the skill necessary to effectively design, negotiate, and manage transnational deals. Usually offered every year.

Staff

IEF 237b Organizational Behavior

Examines leadership styles and the effects of organizational structure, policy, vision, and culture on the behavior of stakeholders, employees, consumers, stockholders, legislative bodies, and the like. Cases and exercises are used extensively. Usually offered every year.

Staff

IEF 239f Service Management

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Introduces the field of service management, with a focus on marketing, operations, and human resources. Issues include critical factors in customer satisfaction, internationalization of services, and organizing for effective service delivery. Uses case studies in hotel, health care, and legal industries. Usually offered every year.

Mr. Oshins

IEF 241f Privatization

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Examines the legal regime governing the transfer of management and property interests from the public sector to the private sector in developing countries/emerging markets. Usually offered every year.

Mr. Mirfendereski

IEF 245f Competitive Strategy

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Provides an intensive survey of the most important techniques and frameworks in the field of business strategy. Discusses ideas from the theoretical, empirical, and normative research on the topic, and applies theses ideas to managerial decisions using case studies. Usually offered every year.

Mr. Gomes-Casseres

IEF 246f Alliance Strategy

Open only to IEF students. Meets for one-half semester and yields half-course credit.

In many industries, collaboration between firms now goes hand in hand with competition. Inter-firm alliances of various sorts(e.g., joint ventures, joint research, and long term supply contracts) have become critical to success in high-technology industries, as well as in certain geographic markets. Surveys the strategic and organizational issues involved in using such alliances. Discusses ideas from the theoretical, empirical, and normative research on the topic, and apply these ideas to managerial decisions using case studies. Usually offered every year.

Mr. Gomes-Casseres

IEF 247f Workshop in International Business

Open only to IEF students. Meets for one-half semester and yields half-course credit.

International business is a dynamic and eclectic field of research. This seminar provides a survey of seminal studies and findings, as well as an opportunity to explore new research questions. Students will develop and share their own ideas for original research in international business. Usually offered every year.

Mr. Gomes-Casseres

IEF 248a E-Business 1.01

Open only to IEF students. Prerequisite: IEF 245f or previous study of competitive strategy recommended.

The Internet is changing the way business is conducted. What will be the new rules? This question will be explored through readings, case studies, on-line research, and hands-on Web design. Usually offered every year.

Mr. Gomes-Casseres.

IEF 249c The Integrated Business Enterprise

Enrollment limited to M.B.A.i. students. Meets both fall and spring semesters for a total of one semester course credit. Students must enroll in both semesters to receive credit.

A capstone course for the M.B.A.i. program that helps students apply skills and concepts learned in other courses and understand how business functions are integrated in a multinational enterprise. Focuses on projects, teamwork, simulations, and business presentations addressing current issues in international business.

Mr. Gomes-Casseres

IEF 253a International Economic Environment

Open only to M.S.F. students.

Provides a foundation in macroeconomic theory for understanding the workings of international money markets and for analyzing ongoing trends in economic activity. Special emphasis is placed on international financial flows, macroeconomic policy strategies, and exchange rate determination. Usually offered every year.

Mr. Plummer

IEF 254f Competitiveness in European Integration

Prerequisite: Study of international finance. Open only to IEF students. Meets for one-half semester and yields half-course credit.

Discusses the concept of a country's competitive advantage and its meaning for economic and monetary integration in Europe. Examines the internal and external effects of the euro, its implications for competitiveness, and the possibility of monetary disintegration. Special one-time offering.

Mr. Cornelius

IEF 255f Asian Economic Miracle

Open only to IEF students. Meets for one-half semester and yields half-course credit. This course may not be repeated for credit by students who have taken ECON 163a in previous years.

Examines the "Asian Success Story"--the reasons why successful economic development continues along the Pacific Rim. Considers the strong gains in aggregate output, industrial production, trade, poverty reduction, life expectancy, literacy rates, and other socioeconomic variables. Investigates the reaction of the United States to the growth in the Asian region. Usually offered every year.

Mr. Plummer

IEF 256f Asia-Pacific Economic Cooperation

Open only to IEF students. Meets for one-half semester and yields half-course credit. This course may not be repeated for credit by students who have taken ECON 163a in previous years.

Considers the future of Asia-Pacific economic cooperation, through "informal" (i.e., market-driven) and "formal" (i.e., policy-driven) channels. Focuses on the newly formed Asia-Pacific Economic Cooperation (APEC), an organization of 18 countries along the Pacific Rim--including the United States--that have pledged the creation of free trade and investment by the year 2020. Usually offered every year.

Mr. Plummer

IEF 257a Globalization

Open only to entering IEF students.

A multidisciplinary introduction to international political economy, finance, and business management. Relies on discussions of case studies and current events. Focuses on the interaction of government and business in areas such as trade, foreign exchange, balance of payments, fiscal and monetary policy, ethics, and corruption. Usually offered every year.

Ms. Hughes

IEF 258f Current Issues in European Integration

Prerequisite: ECON 160a. Open only to IEF students. Meets for one-half semester and yields half-course credit.

Surveys the economic issues emerging from economic "deepening" and "widening" in Europe, including monetary union, labor migration, and expansion to include Eastern European countries.

Mr. Landesmann

IEF 260b International Trade Policy and Institutions

Open only to IEF students.

Develops the fundamental economic theories behind the various polices that regulate and interfere with international trade.

Examines the predominant national and international institutions that are charged with administering these policies as well as the scope and process for potential reform. Usually offered every year.

Mr. Brown

IEF 272f International Political Economy

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Provides an introduction to theories of international political economy and an application of these approaches to issues of trade, monetary relations, and finance. Readings and discussion focus on issues of conflict and cooperation; the relationship between the international system and domestic politics; economic growth, development, and equity; and the connection between the study of economics and politics. Usually offered every year.

Mr. Gomes-Casseres

IEF 280f Introductory Statistics I

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Prepares students who do not have a statistics background to take economics, finance, and econometrics courses involving considerable statistical analysis. No prior knowledge of statistics is required. Usually offered every year.

Mr. Hu

IEF 281f Information Management

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Surveys of quantitative techniques and computer tools in management information systems including database manipulation. Objective of the course is to help students acquire advanced computer skills through cases and hands-on applications. Usually offered every year.

Staff

IEF 282f Financial Modeling

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Introduces quantitative modeling techniques for analyzing the financial performance of projects and companies and valuing earning streams. A key objective is to help students develop sophisticated skills in using spreadsheets and related software through cases and hands-on applications. Usually offered every year.

Mr. Canella

IEF 283f Introduction to Econometrics

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Survey of quantitative techniques and computer tools in data analysis and forecasting, including econometric estimation. The course will include case studies and the use of computer applications. Usually offered every year.

Staff

IEF 284b Econometrics with International Applications

Econometric theory and applications. Discusses the statistical theory of regression modeling and associated hypothesis testing, with emphasis on the construction, interpretation, and use of econometric models. Usually offered every year.

Mr. Lewbel

IEF 285b Quantitative Methods in Finance

Introduces the mathematical and econometric techniques commonly used in financial research and decision making. Emphasizes "hands-on" applications in financial modeling, estimation, forecasting, and testing. Usually offered every year.

Staff

IEF 286f Managerial Accounting and Control

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Intermediate-level managerial accounting with special emphasis on applications to managerial decision making for strategic purposes. Covers conceptual and technical skills needed to manage financial and strategic control problems facing analysts and managers. Areas covered include cost behavior, understanding strategy in the context of managerial financial decisions, and the nature of strategic planning and managerial control. Usually offered every year.

Mr. Chilingerian

IEF 287f Financial Statement Analysis

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Designed to develop skills in analyzing external financial reports. Topics include financial statements terminology, mergers and acquisitions, cash flow analysis, and foreign exchange and foreign tax issues. Usually offered every year.

Staff

IEF 288f Quantitative Techniques

Open only to M.S.F. students. Meets for one-half semester and yields half-course credit

Introduces the mathematical and econometric techniques commonly used in financial research and decision making. Includes forecasting and estimation, financial modeling, sensitivity analysis, and simulation techniques. Usually offered every year.

Mr. Sohrabji

IEF 297a Field Project

Prerequisite: Two semesters at GSIEF or permission of program director. Yields half-course credit.

Offers students an opportunity to apply the theories and key themes covered in the core courses in a real-life setting. Requires completion of at least six weeks of a paid or unpaid internship approved and monitored by a faculty advisor. The project could involve a research or consulting assignment or a structured internship in the school's fields. Interested students should consult the guidelines established by the school. Usually offered every year.

Staff

IEF 298b Independent Study

Normally available for a student who wishes to pursue advanced reading on research in a subject or field not available in the department's course listings. Usually offered every semester.

Staff

IEF 299a Master's Project

A student wishing to complete a master's project, under the guidance of a faculty advisor, may enroll in this course during his or her final semester in the master's program. Projects may involve a short analytical thesis, the solution of an applied problem, or a report on work completed in an appropriate internship. Usually offered every year.

Staff

IEF 300a Readings

Staff

IEF 301a Advanced Microeconomics I

Study of the theories of microeconomics including optimization, theory of the firm, theory of the consumer, duality theory, general equilibrium, welfare economics, public goods, and externalities. Usually offered every year.

Staff

IEF 301b Advanced Microeconomics II

Investigates advanced topics in microeconomics including decision making under uncertainty, dynamic optimization, game theory, and strategic interactions, imperfect competition and oligopoly theory, and information economics including moral hazard and adverse selection. Usually offered every year.

Mr. Jaffe

IEF 302a Advanced Macroeconomics I

Study of the modern theory of consumption, investment, the current account, and the implications of monetary and fiscal policy. Topics include inflation, unemployment, rational expectations, the impact of a government deficit, the determination of interest rates, and the behavior of exchange rates. Long-run properties of short-run models and the microeconomics of macro models. Usually offered every year.

Mr. Kose

IEF 302b Advanced Macroeconomics II

Current research issues in macroeconomics, such as the impact of supply shocks, real demand shocks, and monetary shocks on output, interest rates, and exchange rates. Empirical studies and testing of competing macroeconomic theories. Usually offered every year.

Staff

IEF 305a Advanced Financial Theory

An introduction to capital market theory and the theory of corporate finance. Usually offered every year.

Mr. Chakraborty

IEF 315f Topics in Finance

Open only to IEF students. Meets for one-half semester and yields half-course credit.

The course covers key empirical areas of modern finance by focusing on seminal papers in the field. Topics include asset pricing, implications and testing, the distribution of returns, predictability, efficient markets, mean-variance frontier, and the equity premium. The course provides exposure to the methods and data used to test finance models and is intended to help students generate their own research. Usually offered every year.

Mr. Harrison

IEF 325a Transition Economics

This course examines the transformation of whole economic systems, as well as their parts, including financial systems, legal systems, and individual forms. Economic concepts, models, and methods are drawn from fields of comparative economic systems, comparative institutional analysis, industrial organization, and econometrics to analyze economic transition in the former socialist countries, economic liberalization in developing economies, and privatization in OECD countries. Usually offered every year.

Mr. Jefferson

IEF 335b Industrial Organization

Examines factors that affect the organization of industrial activity. The course includes cross-country studies of firm and industry structure and performance and their technological and institutional determinants, innovative behavior under comparative market multinationals and their strategic behavior, and comparative perspectives on the economic role of the state. Usually offered every year.

Mr. Jaffe

IEF 360b International Trade Theory

Topics include comparative advantage and general equilibrium; the factor-proportions theory and alternative explanations of trading patterns; trade with imperfect competition; commercial policy in the presence of domestic distortions; preferential trading blocs; exogenous and endogenous growth in open economics; and the evolution of the GATT system. Usually offered every year.

Ms. McCulloch

IEF 375b Development Economics

Reviews various models of growth and development, including models of project evaluation, household economic choice, long-run growth, technological change and human resource investment, and alternative development strategies. Includes extensive review of related empirical work that tests various hypotheses that emerge from the theoretical literature. Usually offered every year.

Mr. Jefferson

IEF 382a International Macroeconomics

Applications of macroeconomic theory to open economies. Topics include international parity theorems, models of exchange rate determination, and central bank management of the exchange rate. Usually offered every year.

Mr. Goldfajn

IEF 384b Advanced Econometrics

Prerequisite: IEF 284b or permission of the instructor. Designed for second-year Ph.D. students.

Covers several econometric topics drawn form cross-sectional and time series disciplines. A theme throughout the course is the use of computational models such as bootstrapping and monte-carlo experiments. Usually offered every year.

Mr. LeBaron

IEF 385f Time Series Econometrics

Open only to IEF students. Meets for one-half semester and yields half-course credit.

Covers the tools of time series analysis and their application to macroeconomics and financial data modeling, estimation, forecasting, and testing. Topics include ARMA processes, VAR, unit roots, cointegration, and the ARCH family. The course focuses on current techniques and their actual use by data analysts. Usually offered every year.

Mr. Harrison

IEF 386f Empirical Macroeconomics

Open only to IEF students. Meets for one-half semester and yields half-course credit

Covers key empirical areas of modern macroeconomics by focusing on a selection of seminal papers. Investigates the relationship between the real economy and asset markets, money, inflation, the term structure of interest rates, exchange rates, and the business cycle.

Mr. Harrison

IEF 399a Dissertation Workshop

Involves invited lectures by Brandeis faculty and other researchers. Presentation and discussion of dissertation topics and work in progress. Usually offered every year.

Staff

IEF 399b Dissertation Workshop

Involves invited lectures by Brandeis faculty and other researchers. Presentation and discussion of dissertation topics and work in progress. Usually offered every year.

Staff