ECONOMICS - MANAGEMENT 2016 2017 SYLLABUS · 2 ECONOMICS – MANAGEMENT ECONOMICS - MANAGEMENT 2016...

ECONOMICS - MANAGEMENT 2016 – 2017 SYLLABUS

Content : CIO - Paris II

2 ECONOMICS – MANAGEMENT

ECONOMICS - MANAGEMENT 2016 – 2017 SYLLABUS Two-Year University Diploma in Science and Technology: Development and Management of

Information Systems and Networks (1st year) – Page 4 Two-Year University Diploma in Science and Technology: Development and Management of

Information Systems and Networks (2nd year) – Page 4 Professional Bachelor's Degree in Organisational Management: Main option - Business

Management and Management of Network Distribution Systems (3rd year) – Page 5 Professional Bachelor's Degree in Organisational Management: Main option - Management

of Networks and Information Systems (3rd year) – Page 6 Bachelor's Degree in Economics and Management: Dual options (1st year) - Paris (1260L) –

Page 6 Bachelor's Degree in Economics and Management (with foundation course): Dual options

(1st year) - Paris (1261L) – Page 9 Bachelor's Degree in Economics and Management: Dual options (2nd year) - Paris - (2260L) –

Page 13 Bachelor's Degree in Economics and Management: Dual options and International

Economics (3rd year) - Paris (3216L) – Page 17 Bachelor's Degree in Economics and Management: Dual options and Monetary and Financial

systems (3rd year) - Paris (3272L) – Page 21 Bachelor's Degree in Economics and Management: Dual options and Economic Analysis (3rd

year) - Paris (3242L) – Page 24 Bachelor's Degree in Economics and Management: Dual options and Managerial and

Industrial Economics (3rd year) - Paris (3218L) – Page 28 Bachelor's Degree in Economics and Management: Dual options (3rd year) - Paris (3251L) –

Page 31


Master's Degree in Economics and Management: Main option - Economic Engineering and Statistics (1st year) (4241M) – Page 34

Master's Degree in Economics and Management: Main option - Management Control and

Techniques (1st year) (4251M) – Page 40 Master's Degree in Economics and Management: Main option - Business Management and

Administration (1st year) (4321M) – Page 43 Master's Degree in Economics and Management: Main option - Managerial and Industrial

Economics (1st year) (4214M) – Page 47 Master's Degree in Economics and Management: Main option - Monetary, Financial and

Banking systems (1st year) (4271M) – Page 51 Master's Degree in Economics and Management: Main option - International Economic

Governance (1st year) (4216M) – Page 56


Two-Year University Diploma in Science and Technology: Development and Management of Information Systems and Networks (1st year)

Organisation Theory (DEUST2) Dr Quentin Lefebvre, Associate Professor

(October 2015)

This course presents the history of the theories and representations of "how to work well and be efficient".

Workshops help students answer the following questions: "What is the right organisational structure

today?" What good resources are used? Which rules ensure that those resources will be used well?

Financial Accounting and Management (DEUST3) Dr Quentin Lefebvre, Associate Professor

(October 2015)

Financial Management:

Understanding the fundamental mechanisms of corporate finance, i.e. price, revenue, margin, liquid

assets, financing, stocks, cost price, break-even point, budget, etc. using an integrated approach to

business

The aim of a company is to create value (intelligent consumption, selling at the best price, generating

a sufficient margin). It consumes different (fixed/variable, direct/indirect) resources (expenses). Those

expenses must be financed by the value created and sold by the company (margin).

Students are given concrete examples and practical exercises.

Two-Year University Diploma in Science and Technology: Development and Management of Information Systems and Networks (2nd year)

NIT and Business Communication (DEUST1) Dr Quentin Lefebvre, Associate Professor

(October 2015)

This course, which revolves around the organisational dimension of labour, focuses on the issue of labour

market transition for 2025, i.e. how to hire? How to manage human resources within a company? It

integrates one major axis of evolution, i.e. New Information Technologies (NIT).

Objectives:

Assess the impact of NIT on labour usage rules and the way it is created

Deconstruct the classical model based on the use of "labour resources"

Imagine one or several alternative models and their consequences on that market, today and for the

future

Using thought-provoking material that function very much like a board game, students think up a

model for the use of labour resources in 2025. They will have to present the model to stakeholders

from the economic and social world (trade unions and company heads) and defend it in a debate.

Financial Project Management and Management Accounting (DEUST4) Dr Quentin Lefebvre, Associate Professor


(October 2015)

In line with the course on financial management, which is part of the two-year university diploma in

science and technology (1st year), students take another look at the fundamental notions of corporate

finance and apply them, using financial management tables established for business project initiators

hosted by a business incubator.

Professional Bachelor's Degree in Organisational Management: Main option - Business Management and Management of Network Distribution Systems (3rd year)

Business Plan and Creation (LP- DISTRIB1-SI1) Dr Quentin Lefebvre, Associate Professor

(October 2015)

Global approach

Understanding the fundamental mechanisms of a company

Group work

Role-play

Students work in small groups on a business project they have chosen. They create a business model that

allows them to assess the viability of their original idea. This supervised exercise helps them gain global

insight into the company and the levers for creating value.

Human Resources Management (LP-DISTRIB2) Dr Quentin Lefebvre, Associate Professor

(October 2015)

The aim of corporate HRM is to constantly ensure a balance between human needs as defined in the

company and the expectations of the individuals that keep it alive.

For two decades, such a balance has been increasingly difficult to maintain, for two main reasons:

in a very tense economic context, human needs in companies are increasingly difficult to plan and

satisfy,

the individuals' aspirations at work are broader and more diversified from one person to the another.

In such a new context of tension between supply and demand, the HR function must evolve today in four

priority areas:

Anticipate to the best of ability the company's human needs and attract the best candidates,

Contingent on working situations, understand the expectations of each individual in the company and

satisfy them,

Maintain and reinvent motivation at work,

Maintain and reinvent relationships of trust within the company.

The crisis of Talylorism (classical model of the relation to work), characterized by the disappearance of a

production method and the social relationships it was associated with (the Fordist compromise), the end of

mass consumption, the globalisation of markets and the international economic crisis, have disrupted and

are still disrupting the smooth operation of companies. HR has not escaped these disruptions. As the

economic environment toughens and becomes more radical, HRM must be more strategic, more

personalised and better adapted to a cultural context that values individual and collective performance.


Professional Bachelor's Degree in Organisational Management: Main option - Management of Networks and Information Systems (3rd year)

Business Plan and Creation (LP- DISTRIB1-SI1) Dr Quentin Lefebvre, Associate Professor

(October 2015)

Global approach

Understanding the fundamental mechanisms of a company

Group work

Role-play

Students work in smal groups on a business project they have chosen. They create a business

model that allows them to assess the viability of their original idea. This supervised exercise

helps them gain global insight into the company and the levers for the creation of value.

Bachelor's Degree in Economics and Management: Dual options (1st year) - Paris (1260L)

Microeconomic Analysis (4007) Prof. Alain Redslob

See bibliography on the University’s website

Financial Accounting (4046) Dr Laurent Florès, Associate Professor with accreditation to supervise research

(September 2015)

This course situates financial accounting within the MIS (Management Information System) as a

whole and explains its role and the constraints it represents for a company. Those constraints take

the shape of national and international rules, conventions and accounting standards (IFRS). The

course then presents the accountancy model for recording financial information (notions of

inflows and outflows, double-entry system, etc.) and recording of current and end-of-year

operations based on concrete examples.

History of Major Economic Events (3091) Dr Charles Papon, Associate Professor

(September 2015)

Syllabus not communicated to date

Introduction to Economic Law (1365) Dr Nacira Saadi, Associate Professor

(September 2015)

This course presents the fundamental notions of economic law, which includes different legal

domains and rules of law in the service of trade and business freedom in the course of corporate

economic activity. The different parts of this course are introduced in an overview of economic


law (the relation between law and the economy, the notions of company, economic activity and

market).

The following topics are addressed:

The legal actors in economic life (the business, the company from a legal standpoint) (Part I)

The property of the company supporting its economic activity (ordinary property law -

company property through business assets). (Part II)

The rules of law applicable to economic life (national rules - European rules - international

rules). (Part III)

The protection of legal actors in economic life (civil competition law - consumer law). (Part

IV)

Different forms of dispute settlements involving legal stakeholders in economic life

Different forms of jurisdictional settlement

The jurisdictional organisation of France

The French Commercial court

The forms of non-jurisdictional settlement (- arbitration - mediation - conciliation -

transactional settlement). (Part V)

Macroeconomics 1 (4316) Prof. Alain Redslob


Macroeconomics 2 (4318) Prof. Damien Gaumont

(October 2015)


Organisational Management (4205) Prof. Jérôme Duval-Hamel

(September 2015)


Mathematics 1 (5098) Dr Naïla Hayek - Abou-Chahine, Associate Professor

(September 2015)

I Logic, mathematical language

- Logical connectors, quantifiers, sets

II Real-valued functions of a real variable

- Limit, continuity, fundamental theorems of continous functions

- Differentiability, elasticity, Rolle's theorem, mean value theorem and applications

- Taylor's theorem

- Concave functions, convex functions

- Finding extrema. Necessary conditions, sufficient conditions of optimality

III Real-valued functions of two real variables

- Limit, continuity, partial derivatives, differentiability, second partial derivatives

- Mean value theorem

- Derivation of composite functions, homogeneous functions, implicit function theorem



- Extrema without constraint. Necessary conditions, sufficient conditions of optimality

- Extrema with equality constraint

Mathematics 2 (5298) Dr Lisa Morhaim, Associate Professor

(September 2015)

Functions and optimisation, sequences, integration

Statistics 1 (5099) Dr Lisa Morhaim, Associate Professor

(September 2015)

This is a course in descriptive statistics.

Introduction (descriptive and inferential statistics, definitions)

Statistical series with one variable (graphic representations, parameters summarising a

statistical series) Rate, index numbers

Statistical series with two variables (graphic representations, parameters, correlation,

adjustment)

Introduction to time series (graphic representations, components of a time series, composition

models for the components of a time series).

Statistics 2 (5299)

Dr Christina Pawlowitsch, Associate Professor

(September 2014)

Probability and Random Variables

The concept of Probability :

- Reasons and examples based on an intuitive idea of probability

- Using the language of sets to talk about events

- Sigma-field, sigma-algebra, measurable space, definition of a probability, measured space

- Sigma-field generated by a partition, information partition, economic applications

- Combinatorics

- Model of random sampling from a box (a) with/without replacement, (b) taking/not taking

order into account; drawing from a box containing different coloured objects

- Binomial coefficient; application: Newton's binomial theorem, e (mathematical constant)

Conditional probability and probability independence

- Bayes' theorem

- Applications in economics: updating beliefs

- Discrete random variable

- General ideas

- Discrete real-valued random variable

- Distribution function

- Pair of discrete real-valued random variables

- Moments of a discrete real-valued random variable: mathematical expectation and

variance

- Covariance, correlation coefficient

Discrete distributions

- Bernouilli's principle


- Binomial distribution

- Hypergeometric distribution

- Poisson distribution; Poisson distribution derivation using the limit of a binomial

distribution

Continuous real-valued random variable

- Density function, distribution function

- Moments of a real-valued random variable: mathematical expectation and variance

Continuous distributions

- Uniform distribution

- Exponential distribution

- Normal distribution

- Standard normal distribution, variable transformation, reading statistical tables

- Application: estimating averages

Basic Computing (5225) Dr Jérémie Cabessa, Associate Professor

(September 2015)

This course is an introduction to some of the fundamental practical and theoretical aspects of

computing today. The following theoretical aspects are studied:

Digital coding of information: presentation of the principles of binary data coding that have

been the foundation of computing since its inception.

Boolean logic: presentation of the principles of binary logic at work in computing processes.

General notions in algorithmics: presentation of the "conditional tests" and "loops" that are at

the heart of any programming language.

Elements of recursion: introduction to the recursive reasonings that are essential in

mathematics and programming.

The following practical aspects are studied:

Advanced use of classic office automation tools: word processing, spreadsheet and computer-

assisted presentation software. Special emphasis is laid on spreadsheets.

Introduction to the HTML language for the creation of websites.

Introduction to programming and algorithmics via VBA language. This course presents VBA

syntax, the handling of Excel objects via this language and the VBA implementation of

fundamental algorithmic structures.

Bachelor's Degree in Economics and Management Degree (with foundation course): Dual options (1st year) - Paris (1261L)

Microeconomic Analysis (4007) Prof. Alain Redslob


Financial Accounting (4046) Dr Laurent Florès, Associate Professor with accreditation to supervise research

(September 2015)


This course situates financial accounting within the MIS (Management Information System) as a

whole and explains its role and the constraints it represents for a company. Those constraints take

the shape of national and international rules, conventions and accounting standards (IFRS). The

course then presents the accountancy model for recording financial information (notions of

inflows and outflows, double-entry system, etc.) and recording of current and end-of- -year

operations based on concrete examples.

History of Major Economic Events (3091) Dr Charles Papon, Associate Professor

(September 2015)


Introduction to Economic Law (1365) Dr Nacira Saadi, Associate Professor

(September 2015)

This course presents the fundamental notions of economic law, which includes different legal

domains and rules of law in the service of trade and business freedom in the course of corporate

economic activity. The different parts of this course are introduced in an overview of economic

law (the relation between law and the economy, the notions of company, economic activity and

market).

The following topics are addressed:

The legal actors in economic life (the business, the company from a legal standpoint) (Part I)

The property of the company supporting its economic activity (ordinary property law -

company property through business assets). (Part II)

The rules of law applicable to economic life (national rules - European rules - international

rules). (Part III)

The protection of legal actors in economic life (civil competition law - consumer law). (Part

IV)

Different forms of dispute settlements involving legal stakeholders in economic life

Different forms of jurisdictional settlement

The jurisdictional organisation of France

The French Commercial court

The forms of non-jurisdictional settlement (- arbitration - mediation - conciliation -

transactional settlement). (Part V)

Macroeconomics 1 (4316) Prof. Alain Redslob


Macroeconomics 2 (4318) Prof. Damien Gaumont

(October 2015)


Organisational Management (4205) Prof. Jérôme Duval-Hamel


(September 2015)



(September 2015)

I Logic, mathematical language

- Logical connectors, quantifiers, sets

II Real-valued functions of a real variable

- Limit, continuity, fundamental theorems of continous functions

- Differentiability, elasticity, Rolle's theorem, mean value theorem and applications

- Taylor's theorem


- Finding extrema. Necessary conditions, sufficient conditions of optimality

III Real-valued functions of two real variables

- Limit, continuity, partial derivatives, differentiability, second partial derivatives

- Mean value theorem

- Derivation of composite functions, homogeneous functions, implicit function theorem


- Extrema without constraint. Necessary conditions, sufficient conditions of optimality

- Extrema with equality constraint

Mathematics 2 (5298) Dr Lisa Morhaim, Associate Professor

(September 2015)

Functions and optimisation, sequences, integration


(September 2015)

This is a course in descriptive statistics.

Introduction (descriptive and inferential statistics, definitions)

Statistical series with one variable (graphic representations, parameters summarising a statistical

series) Rate, index numbers

Statistical series with two variables (graphic representations, parameters, correlation, adjustment)

Introduction to time series (graphic representations, components of a time series, composition

models for the components of a time series).

Statistics 2 (5299) Dr Christina Pawlowitsch, Associate Professor

(September 2014)

Probability and Random Variables

The concept of Probability :

- Reasons and examples based on an intuitive idea of probability

- Using the language of sets to talk about events

- Sigma-field, sigma-algebra, measurable space, definition of a probability, measured space


- Sigma-field generated by a partition, information partition, economic applications

Combinatorics

- Model of random sampling from a box (a) with/without replacement, (b) taking/not taking

order into account; drawing from a box containing different coloured objects

- Binomial coefficient; application: Newton's binomial theorem, e (mathematical constant)

- Conditional probability and probability independence

- Bayes' theorem

- Applications in economics: updating beliefs

Discrete random variable

- General ideas

- Discrete real-valued random variable

- Distribution function

- Pair of discrete real-valued random variables

- Moments of a discrete real-valued random variable: mathematical expectation and

variance

- Covariance, correlation coefficient

Discrete distributions

- Bernouilli's principle

- Binomial distribution

- Hypergeometric distribution

- Poisson distribution; Poisson distribution derivation using the limit of a binomial

distribution

Continuous real-valued random variable

- Density function, distribution function

- Moments of a real-valued random variable: mathematical expectation and variance

Continuous distributions

- Uniform distribution

- Exponential distribution

- Normal distribution

- Standard normal distribution, variable transformation, reading statistical tables

- Application: estimating averages

Basic Computing (5225) Dr Jérémie Cabessa, Associate Professor

(September 2015)

This course is an introduction to some of the fundamental practical and theoretical aspects of

computing today. The following theoretical aspects are studied:

Digital coding of information: presentation of the principles of binary data coding that have

been the foundation of computing since its inception.

Boolean logic: presentation of the principles of binary logic at work in computing processes.

General notions in algorithmics: presentation of the "conditional tests" and "loops" that are at

the heart of any programming language.

Elements of recursion: introduction to the recursive reasonings that are essential in

mathematics and programming.

The following practical aspects are studied:

Advanced use of classic office automation tools: word processing, spreadsheet and computer-

assisted presentation software. Special emphasis is laid on spreadsheets.


Introduction to the HTML language for the creation of websites.

Introduction to programming and algorithmics via VBA language. This course presents VBA

syntax, the handling of Excel objects via this language and the VBA implementation of

fundamental algorithmic structures.

Bachelor's Degree in Economics and Management: Dual options (2nd year) - Paris - (2260L)

Management Accounting (4066) Dr Mustapha Najar, Associate Professor

(September 2014)

The first part of this course presents fundamental economic notions such as value, price, cost. It

also highlights the failure of financial accounting to fully account for them and the consequent

need to set up an information system for company costs. The second part focuses on the variety

of costs in an industrial business and on the models that have been developed to analyse them.

The third part is dedicated to full costs and the fourth and final part to partial costs, the break-

even method and its uses in company decision-making.

National Accounts (4075) Prof. Geneviève Grangeas

(November 2015)

National accounts cover a statistical summary technique which aims to provide a quantified

representation of the economy of a country. Elaborating a consistent representation of all the

economic phenomena implies having an accounting framework at one’s disposal. Studying that

framework is therefore part of the syllabus, i.e. institutional sector accounts, tables (IOT, ET).

Since the aim of national accounts systems is to produce figures that will be useful for

macroeconomic analysis, the conception of this framework is tightly linked to that domain, and

constantly refers to it. Moreover, reflection on concepts is especially important in a world where

the issue of the production frontier (what should be taken into account when calculating GDP) is

still being debated at the highest level. The following points are therefore studied: debates on

concepts, in particular on the productive sphere - establishing nomenclatures - accounts,

architecture and construction - the productive structure - choice of aggregates - comparisons in

time and space; and maybe a few other issues. As the course develops, students will find

information in relation to it on a dedicated web page on which they will also find links to

additional information and an interactive multiple choice questionaire that will prepare them for

the exam. Students will be given the web page address during the first class and further

information on how to use it later on.

Business Law (1045) Dr Nicolas Balat, Associate Professor

(September 2015)

General course on commercial and business law

European Economics (4136) Prof. Alain Redslob


International Economics (4146) Dr Marie Obidzinski, Associate Professor

(September 2015)

Chapter 1: The development of trade

Part 1: Determinants of international specialisations

Chapter 2: Differences in technology and specialisations

Chapter 3: Differences in factor endowments and specialisations

Chapter 4: New international trade theories

Part 2: Trade policies

Chapter 5: Trade policies

Chapter 6: The political economy of protectionism

Part 3: Balance of payments, foreign trade and macroeconomic equilibrium

Chapter 7: Current account and real exchange rate

Public Sector Economics (4126) Prof. Jean Mercier-Ythier

(September 2015)

General overview of public finances: current data and major developments

Public economic theories

- Normative analysis of public economic action

- Positive analyses of public sector long-term growth

- Public choice school

Equilibrium of a perfect competition market

- Presentation of the model

- The first and second fundamental theorems of welfare economics

Public goods

- Typology of goods: public goods, private goods, common resources and club goods

- A model of private contributions to public goods

- The Lindahl equilibrium and the problem of preference revelation

Externalities

- Externalities and efficiency: a few classical models

- Externalities and public policies

Imperfect competition

- Imperfect competition and market structures

- Perfect and imperfect competition equilibrium: comparative statics in partial equilibrium

Management Basics (4333) Dr Muriel De Fabrègues, Associate Professor with accreditation to supervise research

Dr Yasmina Jaidi, Associate Professor


Monetary Macroeconomics (4281) Prof. Christian Ottavj

(September 2015)

Part I: Currency and activity rate


1. Presentation of the classical model

2. The main dividing lines between classical and Keynesian economics

3. The IS-LM model

4. IS-LM model’s teachings in a closed economy

5. Opening the economy

6. The IS-LM model in an open economy

Part II: Inflation, unemployment and the activity rate

1. The flexible price IS-LM model

2. The limitations of economic policies

3. Determining the structural unemployment rate

4. Macroeconomic equilibrium

5. The Phillips relationship

6. Relationships between inflation, unemployment and growth


(September 2015)

I Vector spaces

- Linear combinations

- Vector subspaces

- Generating systems

- Dependent and independent vectors

II Bases

III Linear applications

- Isomorphism

- Kernel and image

- Dimension theorem

IV Matrices

- Matrix operations

- Vector space of same-size matrices

- Matrix inversion

- Linear systems

- Relations between matrices and linear applications

V Determinants

- Determinant of a square matrix

- Determinant of vectors


(September 2015)

I Matrix diagonalisation

- Eigenvalues and eigenvectors

- Diagonalisable matrices

II Quadatric forms

III Series

- Convergence. Operations on series

- Reference series


- Comparison Test

- D'Alembert's and Cauchy's tests

- Absolute convergence

- Alternating series

IV Differential equations

- First-order linear constant coefficient differential equations

- First-order linear non-constant coefficient differential equations

- Second-order linear constant coefficient differential equations

Microeconomics (Market Structures) (4343) Prof. Claude Pondaven

(September 2015)


Statistics 3 (5009) Dr Youcef Askoura, Associate Professor

(September 2015)

The concept of probability

- Probabilistic model

- Conditional probability

- Bayes' theorem

- Independence

Random variable

- Discrete random variable. Expectation, variance. Moments

- Continuous random variable. Distribution function, density

Distributions

- Discrete distributions: Bernoulli, binomial, hypergeometry, Poisson, Pascal

- Continuous distributions: uniform, exponential, normal, gamma, chi-squared

Empirical distributions

- Sample

- Mean and empirical variances

- Student's t-distribution

- Fisher–Snedecor distribution

Multidimensional distributions

- Pair of discrete random variables. Marginal distribution. Conditional distribution

- Sum distribution

- Pair of continuous random variables

Statistics 4 (5289) Dr Céline Chevalier, Associate Professor

(October 2015)

Multivariate distributions

Pair of continuous random variables. Sum distribution. Conditional expectation, regression.

Random vector. Normal vector distribution.

Convergences


Convergence in probability. Law of large numbers. Convergence in distribution. Central limit

theorem. Convergence in quadratic mean. Convergence of empirical moments.

Statistical model (estimation)

Punctual estimation. Estimator properties: bias, convergence, efficiency. Fisher information.

Methods of moments and maximum likelihood. Confidence interval estimation.

Computing: Advanced Tools and Databases (5043) Dr Dominique Tachat, Associate Professor

(September 2015)

This course presents the fundamental concepts of databases. The following points are studied:

.Excel list management tool

SQL and EasyPHP application

Relational algebra

Dependencies and normalisation

Using ACCESS (database creation, proforma, report creation, query writing)

Entity-relationship model - from that model to the relational model

DBMS features

Creating and querying a mySQL database

Monetary and Financial Systems (4422) Prof. Christian Ottavj

(September 2015)


Bachelor's Degree in Economics and Management: Dual options and International Economics (3rd year) - Paris (3216L)

Cycles and Growth (4044) Prof. Jean-Marie Le Page

(September 2015)

Introduction

Part 1: Growth analysis

Chapter 1: Economic growth: history and metrics

Chapter 2: Economic growth: characteristics and factors

Chapter 3: History of growth analysis

Chapter 4: The Solow model

Chapter 5: Endogenous growth

Chapter 6: Growth and creative destruction: Schumpeter models

Part 2: Analysis of business cycles

Chapter 7: Business cycles: history and metrics

Chapter 8: Oscillators

Chapter 9: Simulations and economic analyses of business cycles:

RBC and DSGE models

Chapter 10: Cycles and multiple equilibria


Econometrics (4116) Prof. Alain Pirotte

(September 2015)

This course is an introduction to econometrics. It combines theory and application. It starts with a

detailed analysis of the notion of random model and modelling principles. It then presents simple

and multiple linear regression models and their valuation methods. The rest of the course focuses

on the non-verification of some fundamental assumptions (serial correlation and/or

heteroscedasticity of errors). Consequences and adapted valuation methods are examined. The

empirical dimension of the course is explored through the numerous examples provided: money

demand, labour demand, wage equations, returns on education, etc. Applications are realised with

Eviews software. Without going into overly refined demonstrations, this course nonetheless

requires a good knowledge of the 1st and 2

nd-year courses in statistics and mathematics.

Monetary Economics and International Finance (4152) Prof. Catherine Lubochinsky

(October 2015)

Chapter 1 Balance of payments and international capital flows

Chapter 2 Exchange rate and exchange market

Chapter 3 International monetary system and exchange rate policies

Chapter 4 Developments in monetary policies since the financial crisis

Chapter 5 International financial integration

Chapter 6 Financial crises

Geopolitical Aspects of the World Economy 4330) Mr Nicolas Chapon

(September 2015)


History of Economic Thought (4270) Prof. Claude Pondaven

(September 2015)


Open Economy Macroeconomics (4167) Prof. Jean Mercenier

(September 2015)

Introduction to macroeconomics in an open economy

Part 1: Macroeconomic equilibrium in a closed economy (revision 1)

Part 2: Economic policies in a closed economy (revision 2)

Part 3: Macroeconomic equilibrium in an open economy

1. General framework: a simplified balance of payments

2. Exchange rates and exchange rate regimes

3. Modifications of the IS and LM curves

4. Capital account, exchange rate market and BG curve



Part 4: Economic policies in an open economy

1. Economic policies in "small countries"

2. A few issues related to the choice of exchange rate regime

3. Economic policies in similar "big countries"

4. Economic policies when there are inequalities among countries

Part 5: Introduction to flexible pricing analysis

1. Global demand curve

2. First analysis of the labour market

3. Global supply curve and debates on economic policy

Part 6: Monetary areas

1. Currency board regime and dollarisation phenomena

3. Monetary union

Annexes

International Management (4313) Prof. Serge Vendemini

(October 2015)

Week 1: Globalisation of business and international opportunities for companies

Week 2: Elements on international negotiation and important cultural variables

Week 3: Export management

Week 4: Managing the setting up of a company abroad

Week 5: Relocation management

Week 6: International cooperation management

Week 7: Conditions for success in international cooperation and perspectives

Week 8: Are locations fatal? The issue of relocation-resettlement

Week 9: Business globalisation and region revival: districts, clusters and innovation centres.

Towards new forms of competitiveness

Week 10: Open session (current events), exam preparation


(September 2015)

I - Revisions

- Matrix diagonalisation

- Quadatric forms

II- Real-valued functions of several real variables

- Topology on R^n (norms, balls, open sets, closed sets)

- Functions of n variables: limit, continuity, partial derivatives, differentiability, second partial

derivatives.


- Non-constrained extrema

- Constrained extrema

- An existence theorem: Weierstrass' optimisation theorem.

- Extrema subject to equality constraint: Lagrange multipliers

- Extrema subject to equality and inequality constraint: Kuhn-Tucker theorem.

III - Dynamical systems

- Linear differential systems


- Equilibrium and stability

- Nonlinear differential systems



(September 2015)

This is a course in inferential statistics.

Estimation. Punctual estimation, confidence interval estimation

Tests: simple and multiple hypothesis testing, comparison tests, adjustment tests, independence

tests

International Trade Theory (4460) Prof. Jean-Marie Le Page

(September 2015)

The first part of this course covers the main characteristics of international trade today. The next

part is dedicated to the three families of international trade theories, i.e. Ricardian analysis,

neoclassical analysis and the new theories on international trade. Special emphasis is laid on

recent analyses. The last part of the course focuses on protectionism theories.

Introduction

Chapter 1: Technologies and international trade: the Ricardian model

Chapter 2: Formal analysis of the comparative cost model and extensions of the analysis

Chapter 3: The neoclassical model of international trade: Hecksher-Ohlin analysis and

contemporary formulations

Chapter 4: Revenue dynamics and growth

Chapter 5: The specific factors model

Chapter 6: The new international trade theories: increasing returns and imperfect competition

Chapter 7: Protectionism and free trade contestation in developed countries

Computing: VBA Programming (5049) Dr Maria Berger-Rifqi, Associate Professor with accreditation to supervise research

Prof. Michel De Rougemont

(October 2015)

This course deals with VBA (Visual Basic) programming in the Microsoft world. Based on

Excel, it presents the solver and the VBA macros, as well as basic tools, such as searching

through a list, sorting, random walks and using Excel graph functions. Students are assessed on a

computing project. The content of the course and tutorials is available online at

http://www.up2.fr/index.php?n=Main.LicenceL 3e


Bachelor's Degree in Economics and Management: Dual options and Monetary and Financial systems (3rd year) - Paris (3272L)

Banking and Insurance (4041) Dr Marianne Guille, Associate Professor

(September 2015)

This course is an introduction to the analysis of the role of banks and insurance companies in the

economy. After a brief presentation of financial intermediation theory and practice, it examines

the specificity of banks and insurance companies. It analyses their activity within the French

financial system based on their financial accounts. It then presents both banking firm and

insurance company modelling, , which fall under the heading of uncertainty microeconomics. It

then introduces the questions of information asymmetry, which affects loan and deposit

agreements on the one hand and insurance policies on the other (analysis of adverse selection and

moral hazard effects).


(September 2015)

Introduction












RBC and DSGE models


Econometrics (4116)

Prof. Alain Pirotte

(September 2015)












The Economics of Information and Uncertainty (4304) Dr Olivier Bos, Associate Professor

(September 2015)

Part 1: Uncertainty economics

Chapter 1: Introduction to uncertainty and expected utility theory - Preference relations - The

different forms of uncertainty - Representation of probability uncertainty and expected utility

theory

Chapter 2: Risk and risk measurement - Risk aversion - Measuring risk aversion - Applications:

choosing a portfolio and insurance request.

Part 2: Information asymmetry

Chapter 3: Moral hazard

Chapter 4: Self-selection

Chapter 5: Signalling theory

Part 3: Competitive equilibrium in uncertainty

Download the syllabus

Monetary Economics and International Finance (4152) Prof. Catherine Lubochinsky

(October 2015)

Chapter 1 Balance of payments and international capital flows

Chapter 2 Exchange rate and exchange market

Chapter 3 International monetary system and exchange rate policies

Chapter 4 Developments in monetary policies since the financial crisis

Chapter 5 International financial integration

Chapter 6 Financial crises

Corporate Finance (4228) Ms Astrid Masset

(September 2014)


History of Economic Thought (4270) Prof. Claude Pondaven

(September 2015)



(September 2015)

I - Revisions


- Quadatric forms





derivatives.













(September 2015)




tests

Computing: Algorithms and Introduction to Programming (5540) Dr Nicolas Thibault, Associate Professor

(September 2014)

This course is an introduction to programming algorithms and interfaces in java. The notions of

variables, types, object, conditionals and loops are introduced and put into practice using

examples of algorithms on tables, and interfaces. The last two classes present basic notions of

VBA language syntax in order to link java concepts with VBA language, which is popular in the

financial sector.

Basics

- Variables

- Type system

- Notion of object in computer science

Algorithmics

- Conditionals

- Loops

Interfaces

- Model-view-controller

- Using the java.awt package

Financial Markets (4301) Prof. Sébastien Lotz

(September 2014)

This course is an introduction to financial markets. It focuses on the specifics of financial assets:

how prices are quoted and assets are traded. The first part of the course is dedicated to bond


valuation, interest rate determination (nominal rate, yield to maturity) and their structure. The

second part of the course deals with equity price, information dissemination on stock markets

(efficiency, behavioural finance). The last part studies risk coverage mechanisms associated with

holding financial asset.

1. Functions and structure of the financial system

2. Measuring the interest rate and return on assets

3. Bonds

4. Risk structure and interest rate term structure

5. Stock markets

6. Financial risk management tools

Bachelor's Degree in Economics and Management: Dual options and Economic Analysis (3rd year) - Paris (3242L)

Data Analysis (4011) Dr Céline Chevalier, Associate Professor

(October 2015)

This course is an introduction to the statistical analysis of data. The introduction presents the

different standard types of multidimensional analysis and SAS software. The course covers

geometrical methods used in statistics, data dimensionality reduction, such as principal

component analysis, factor analysis of correlations and multiple correlation analysis. Lastly, the

course explores classification methods and multiple discriminant analysis. For each type of

analysis, concrete examples are examined in class and during tutorials then put into practice with

SAS software.

Presentation of data analysis (data analysis methods and introduction to SAS software)

Analysis of a scatter plot (geometrical methods in statistics, principal axes, interpretation and

examples in SAS)

Principal component analysis (analysis of the scatter plot of individuals and of the variable

space, interpretation, quality of the results and examples in SAS)

Qualitative variables (correspondence analysis, multiple correspondence analysis)

Classification methods (clustering methods, hierarchical cluster analysis)

Discriminant analysis (descriptive and decisional aspects)


(September 2015)

Introduction













RBC and DSGE models


Econometrics (4089) Prof. Georges Bresson

(September 2015)

The syllabus is available online at http://bresson.u-paris2.fr

Applied Econometrics (4111) Prof. Georges Bresson

(September 2015)



(September 2015)




theory










(September 2015)






















3. Monetary union

Annexes


(September 2015)

I - Revisions


- Quadatric forms




derivatives.













(September 2015)




tests

Contract Theory (4455) Prof. Claude Pondaven

(September 14)


In this course emphasis is laid on the theory of mechanism design (incentives), negotiation,

implicit contract and organisation. The analysis is micoreconomic in a context of uncertainty. The

reference model is the Principal-Agent relationship with incomplete contracts. The aim is to

understand the reasons behind the parties' incentives to find an agreement, validate a

compromise, enter into an agreement or sign a contract. There are numerous applications of

contracts in the economy: in insurance theory, in finance and in the banking sector, in labour

economics, public economics, industrial economics, etc. It is therefore possible to study a variety

of applications. Each year a given sector or topic is emphasised. In each case, the terms of a

contract, its characteristics, the constraints it implies for the parties and its limits are examined.

Non-Cooperative Game Theory (4468) Prof. Damien Gaumont


Computing: Algorithms and Introduction to Programming (5540) Dr Nicolas Thibault, Associate Professor

(September 2014)

This course is an introduction to programming algorithms and interfaces in java. The notions of

variables, types, object, conditionals and loops are introduced and put into practice using

examples of algorithms on tables, and interfaces. The last two classes present basic notions of

VBA language syntax in order to link java concepts with VBA language, which is popular in the

financial sector.

Basics

- Variables

- Type system

- Notion of object in computer science

Algorithmics

- Conditionals

- Loops

Interfaces

- Model-view-controller

- Using the java.awt package

Computing: VBA Programming (5049) Dr Maria Berger-Rifqi, Associate Professor with accreditation to supervise research

Prof. Michel De Rougemont

(October 2015)

This course deals with VBA (Visual Basic) programming in the Microsoft world. Based on

Excel, it presents the solver and the VBA macros, as well as basic tools, such as searching

through a list, sorting, random walks and using Excel graph functions. Students are assessed on a

computing project. The content of the course and tutorials is available online at

http://www.up2.fr/index.php?n=Main.LicenceL3e

http://www.up2.fr/index.php?n=Main.LicenceL3e


Bachelor's Degree in Economics and Management: Dual options and Managerial and Industrial Economics (3rd year) - Paris (3218L)

Advanced Management Accounting / Cost Accounting (4062) Dr Mustapha Najar, Associate Professor

(September 2014)

The first chapter covers the full- and partial- cost accounting methods. The second chapter offers

a theoretical approach to the properties of a cost analysis system that supports decision making in

companies. The third chapter is dedicated to studying the relevance of the cost methods studied in

the second-year programme and two new specific methods, one of which is used in mass

production companies and the other in companies having a production-to-order system. The last

chapter revolves around the activity-based costing method.

Econometrics (4116) Prof. Alain Pirotte

(September 2015)












(September 2015)




theory









Industrial Economics (4140) Prof. Damien Gaumont


(July 2014)

This introductory course in industrial economics aims to provide a complete study of the

fundamental concepts of the domain, with the exception of network economics (studied in

Master's Degree in Managerial and Industrial Economics (MIE) (1st year)) and issues related to

regulation and digital platform economics (studied in Master's Degree in MIE (2nd year)). It is

based on concrete everyday-life examples and offers students a better understanding of the

reasons for their formalised writing. Theory and application are constantly linked. The

introduction defines the firm and the market. The first chapter presents the concept of wellbeing

(theorems 1 and 2) and its metrics: equivalent variation, compensating variation, consumer

surplus and producer surplus. Chapter 2 analyses the power of monopoly using the Lerner index

to study specific cases, depending on whether the goods are homogeneous, heterogenous

(complementary or substitute) or whether the firm acts over different periods of time. Chapter 3

develops 1st-, 2nd- and 3rd-degree price discrimination. Chapter 4 analyses vertical integration

and its effects, i.e. double marginalisation and franchising through linear and non-linear pricing.

It studies horizontal and vertical differentiation and the Bertrand / Cournot paradox.


(September 2015)





















3. Monetary union

Annexes

Industrial Management and Logistics (4274) (September 2014)




(September 2015)

I - Revisions


- Quadatric forms




derivatives.













(September 2015)




tests

International Trade Theory (4460) Prof. Jean-Marie Le Page

(September 2015)

The first part of this course covers the main characteristics of international trade today. The next

part is dedicated to the three families of international trade theories, i.e. Ricardian analysis,

neoclassical analysis and the new theories on international trade. Special emphasis is laid on

recent analyses. The last part of the course focuses on protectionism theories.

Introduction

Chapter 1: Technologies and international trade: the Ricardian model

Chapter 2: Formal analysis of the comparative cost model and extensions of the analysis

Chapter 3: The neoclassical model of international trade: Hecksher-Ohlin analysis and

contemporary formulations

Chapter 4: Revenue dynamics and growth

Chapter 5: The specific factors model

Chapter 6: The new international trade theories: increasing returns and imperfect competition

Chapter 7: Protectionism and free trade contestation in developed countries


Game Theory and Business Strategy (4474) Dr Christine Halmenschlager, Associate Professor with accreditation to supervise research

(October 2015)

This course focuses on the main concepts and methods of game theory and shows their

importance in analysing competition among companies. It centers on non-cooperative game

theory. Numerous examples are given to illustrate the notions that are studied.

Computing: Algorithms and Numeric Model Programming (5042) Dr Nicolas Thibault, Associate Professor

(September 2015)


Bachelor's Degree in Economics and Management: Dual options (3rd year) - Paris (3251L)

Data Analysis for Management (4005) Mr Philippe Tassi

(August 2014)

This course aims to acquaint students with the quantitative approaches that are so useful in

management science. It is divided into four parts. The first one, entitled "Data", tackles basic

notions in statistics, the nature of data as well as the concepts of encoding and distance applied to

the fusion of files in marketing. The second part is dedicated to the notion of sample (modes of

selection, structure and representativeness, etc.). Part 3, "Accuracy of judgment based on

samples", contains elements that make it possible to move from samples to the general

population. The last chapter covers linkage and explanatory statistical models (probabilitistic or

geometric ones).

Advanced Financial Accounting (4060) Dr Muriel De Fabrègues, Associate Professor with accreditation to supervise research

This course helps students to learn to read accounting and financial documents prepared by

companies and groups. It allows students to interpret them by referring to the principles and rules

of accounting practice, to reconstruct the reasoning behind the accounting entry of a company's

operations, and in general to assess the validity of accounting data in view of the needs of internal

and external users, especially financial analysts. The course is divided into three parts:

presentation of the objectives and mechanisms of accountancy entry; corporation/partnership and

limited company accounting; record of movements and groups.

Management Accounting and Audit (4084) Dr Muriel De Fabrègues, Associate Professor with accreditation to supervise research

This course presents budget techniques and budget control principles. These techniques entail

organisational and human problems, which will be studied.

Business Law (1044) Dr Grégoire Duchange, Associate Professor


(September 2015)

INTRODUCTION

I. Definition

II. History

III. Sources

PART I: BUSINESS PERSONS INVOLVED IN COMMERCIAL LAW

SECTION I: THE NOTION OF TRADER

Chapter I: Trading companies, by form

Chapter II: Commercial activities

Chapter III: Non-trading professionals

SECTION II: THE STATUS OF TRADERS

Chapter I: Commercial capacity

Chapter II: The trader’s assets

Chapter III: The trader’s family

Chapter IV: The traders’ duties

Chapter V: The legal regime of business transactions

Chapter VI: Litigation rules applying to traders

SECTION III: BUSINESS COMPANIES

Chapter I: Rules applying to all business companies

Chapter II: Special rules applying to each business company

PART II: THE TRADERS’ PROPERTY

SECTION I: BUSINESS ASSETS

Chapter I: The notion of business assets

Chapter II: Selling business assets

Chapter III: Lease management of business assets

Chapter IV: Using business assets as a warranty

SECTION II: COMMERCIAL LEASE

Chapter I: Scope of the status of commercial leases

Chapter II: Rights and duties of parties under a lease

Chapter III: Rights and obligations of parties upon termination of the lease

SECTION III: INDUSTRIAL PROPERTY

PART III: THE TRADERS’ RELATIONSHIPS

SECTION I: THE TRADER’S PARTNERS

SECTION II: THE TRADER’S CLIENTS

SECTION III: THE TRADER’S COMPETITORS

Employment Law (1320) Dr Emeric Jeansen, Associate Professor

(September 2014)

Part 1: General rules applicable to employment contracts

Section 1: Formation of an employment contract

Chapter 1: The notion of employment contract

1. Qualification as an employment contract

2. Presumption of an employment contract

Chapter 2: Conclusion of an employment contract


1. Choice

2. Form

Chapter 3: Probation period

1. Conditions of the probation period

2. Consequences of the probation period

Section 2: Execution of an employment contract

Chapter 1: Contractual obligations

1. General obligations of the employer

2. General obligations of the employee

3. General obligations ensuing from the provisions of the contract

Chapter 2: Disruption of a contract

1. Suspension of an employment contract

2. Modification of an employment contract

3. Transfer of a contract

Section 3: Termination of an employment contract

Chapter 1. Breach of an employment contract

1. Amicable termination on the initiative of the employer

2. Termination on the initiative of the employee

3. Termination by mutual agreement

Chapter 2. After the termination of a contract: the non-competition clause

1. Condition

2. Consequences

Part 2: Special rules applying to fixed-term contracts

Chapter 1. Fixed-term contracts

1. Conclusion of a fixed-term contract

2. Series of fixed-term contracts

3. Termination of fixed-term contracts

Chapter 2. Temporary employment contract

1. Formation of temporary employment contracts

2. Consequences of temporary employment contracts

The International Economic Environment and Business Communication (4203) Dr Virginie Pez, Associate Professor

(November 2015)

This course covers the main concepts and stakes of business communication. The whole

communication process is studied, from the elaboration of the communication strategy to its

implementation. The themes offer a general overview of business communication and describe

the main tools of relational and digital communication. Classes are based on business case

studies.

Corporate Finance (4221) Ms Astrid Masset

This is a fundamental course in business finance. It revolves around three axes - Financial theory

foundations - Financial analysis - Financing policy. It focuses on financial reasoning, which

revolves around the concept of value, and largely calls upon the notions of profitability and risk.


Basic Marketing (4314) Prof. Mathilde Gollety

(September 2015)

This course covers the main concepts of marketing. First, it describes changes in the definition

and scope of marketing, then the steps of the marketing approach. The relation between strategic

and operational marketing is emphasised. The notions related to marketing variables, i.e. product,

price, communication and distribution, are tackled. Special attention is paid to consumer

behaviour, as well as to the tools and techniques needed to understand it.

Information Systems and Network Management (5218) Dr Dominique Tachat, Associate Professor

(September 2015)

This course presents the fundamental concepts of databases.

The following points are studied:

Excel list management tool

SQL and Access application

Relational algebra

Dependencies and normalisation

Using ACCESS (database creation, proforma, report creation, writing query, creation of

buttons)

Entity-relationship model - from that model to the relational model

DBMS features

Creating and querying a mySQL database

Quantitative Management Techniques (4480) Dr Dorien Militaru, Associate Professor

Ms Jennifer Amar

(September 2015)


Master's Degree in Economics and Management: Main option - Economic Engineering and Statistics (1st year) (4241M)

Econometrics in Financial Markets (4387) Dr Ali Skalli-Houssaini, Associate Professor with accreditation to supervise research

(September 2015)

This course is an introduction to the econometrics of financial markets. The various topics

addressed are the efficient-market hypothesis, the so-called assessment models and volatility

models. For each of the first two topics, the theoretical foundations are revised and consolidated

before presenting appropriate statistical tests. Indeed, emphasis is laid on the economic

interpretation of the statistical results provided by those methods more than on narrow

technicalities. The third topic is fundamentally empirical. It presents the statistical modelling

methods that make it possible to overcome certain empirical difficulties emanating from the

specifics of financial return , which are not taken into account accurately by the econometrics of

linear time series.


Industrial Economics (4143) Dr Christina Pawlowitsch, Associate Professor


Public Sector Economics (4173) Prof. Bertrand Crettez

(October 2015)

Chapter 1 Revisions

This chapter is a revision of the elementary notions used in public economics (externalities,

Coase theorem, public goods, etc.).

Chapter 2 Introduction to the measurement of public service efficiency

Chapter 3 Introduction to issues of matching in public economics

Chapter 4 Introduction to the measurement of diversity and preservation policies

Cooperative Game Theory (4469) Dr Chantal Marlats, Associate Professor

(September 2015)

Negotiation

Games that possess removable utility

The core in games that possess removable utility

The Shapley value in games that possess removable utility

Other solution concepts

Games that possess no removable utility

Matching problems

Stochastic Calculus (IES) (5037) Mr Bonnefoy


Time Series (4386) Prof. Georges Bresson

(September 2015)


Data Analysis (IES) (4008) Dr Joseph Lanfranchi, Associate Professor

(October 2015)

This course presents the methods that are usually used to describe and visualise multivariate data,

i.e. factor methods and clustering methods. The techniques of descriptive analysis are used to

visualise data in a representative subspace, to spot groups of individuals and/or variables, extreme

values or to help choose variables. Using factor analyses it is also possible to project high-

dimensional data onto a smaller space. Indeed, some of the variables are so redundant that it is

possible to reduce the initial dimension of data. Thus it is possible to bring some individuals or

variables closer: Which individuals are similar to the whole set of variables? or, conversely,

which variables are similar given the whole set of individuals? The similarities among individuals

http://bresson.u-paris2.fr/


and variables allow the operator to create a typology of the individuals and/or variables and to

provide a synthesis of data.

General introduction to the principles of multidimensional data analysis

General principle of factor analyses

Principal Component Analysis (PCA)

Correspondence Analysis

Multiple Correspondence Analysis (MCA)

Classification methods

Portfolio Choice (4409) Mr. Philippe Oriez

(September 2015)

Revision of the financing methods of companies, their use and consequently the means

used by portfolio managers. Financial statement, assets and liabilities

A The portfolio theory: optimal portfolio choice

1. Stocks and shares: return, volatility, covariance, correlation, beta, etc.

2. Efficient portfolio choice

Excel applications: Return on a security and portfolio, security and portfolio volatility, efficient

curve, covariance, beta, correlation.

B Rates: spot curve and products

1. Rate and swap curve, indexes (Eonia, Euribor)

2. Financing products: funding lines, leasing, commercial paper, bonds (financial and legal

domains)

3. Basic principles of actuarial science: concept, capitalisation, discounting

5. Technical factors: Duration, sensitivity, convexity

Practical applications: discounting cash flows, prices, bond duration

C. Simple derivatives

1. Discounting factors

2. Forward rates

3. Swap

4. Cap and floor

Practical applications: establishing a discounting factor matrix and a swap pricer in Excel

Optimal Control Theory (4521) Prof. Jean Mercenier

(September 2015)

Revision of differential equations

- Solutions

- Stability

- One-dimensional phase diagram

- Initial, terminal and border conditions,

Differential systems

- Solutions

- Stability

- Two-dimensional phase diagram

- Initial, terminal and border conditions,

Dynamic optimisation using the optimal control method


- The problem and its interpretation

- Optimality conditions and the Hamiltonian system

- The different forms of the Hamiltonian system

- Qualitative analysis of the optimal dynamics using the phase diagram

- Interpretation of the adjoint state variable

Economic applications and interpretations

The Economics of Banking (4427) Dr Marianne Guille, Associate Professor

(September 2015)

Banking intermediation

- What is a bank?

- Banking intermediation theory and practice

- Specificity of banking intermediation

Banking business analysis

- Financial position of banks (on- and off-balance sheet)

- Banking business results (profit and loss account, profitability, performance)

- Principles of balance sheet management and banking risks

Theory of the banking firm

- Banking firm modelling (imperfect competition, introduction of credit risk)

- Analysis of the banking market (contestability, overcapacity, concentration,

diversification)

Introduction of information asymmetry

- Deposit agreement with asymmetrical information

- Loan agreement with asymmetrical information

The Economics of Insurance (4388) Dr Joseph Lanfranchi, Associate Professor

(October 2015)

This 18-hour course provides a general overview of the economics of insurance. It associates a

dual vision of insurance both as a method for taking risk into account and as a production activity

defining an industry, which has its own specific features. This course is theoretical enough for

students to understand concepts such as that of "ex-ante moral hazard" while remaining

understandable for future users who aim to learn how insurance works.

Insurance: economic role and industry

- Insurance, risks and their development over time

- The macroeconomic importance of the insurance industry

- Functions of insurance

- Macroeconomic determinants of insurance demand

Risk assessment and management

- Risk definition, perception and measurement

- Tendency to pay for things guaranteed, risk aversion and prudence

- Risk-management instruments

Insurance demand model

- Insurance demand of individual consumers

- Demand of companies


- Risk diversification by companies on the capital market

Insurance technology of private insurance companies

- Risk acquisition and selection

- Control for effects of moral hazard

- Contractualisation of reinsurance

Insurance market equilibrium

- Consequences of forms of information asymmetry on market equilibrium: moral hazard

and adverse selection

Experimental Economics (4527) Prof. Sacha Bourgeois-Gironde

(September 2015)

This course connects theoretical models and experiments. Why should theoretical models be

tested in a laboratory? How can they be? Although most of the branches of economics, even the

most abstract of them, can lead to direct or indirect experiments, this course is more specifically

focused on experimental game theory and social choice theory. Revisions on game theory, and

key results in experimental game theory. Aggregate preferences and heterogeneous data in

collective decision-making experiments. Contingent assessment methods. Experimental

exploration of search models in a context of monetary transactions and sender-receiver models in

a context of multi-language exchanges.

Introduction to Actuarial Techniques (4462) Ms Mouna Ait Omar

(October 2015)

Introduction to actuarial techniques:

What is risk in insurance?

Insurance: history, fundamental principles and regulatory constraints

Statistical approach to insurance

Actuarial techniques in life insurance: regulatory framework, pricing and provisioning

Actuarial techniques in non-life insurance: regulatory framework, provisioning and risk

control

Reinsurance

Behavioural Finance (4529) Prof. Sacha Bourgeois-Gironde

(September 2015)

This course deals with agents’ internal and external motivations that lead them to deviate from

classical models of economic and financial rationality. Five topics are addressed.

1. Information and market efficiency

2. The Grossman-Stiglitz paradox. Information cascades

3. Complexity approaches: coordination and anti-coordination games

3. Aggregation of opinions. Condorcet's jury theorem

4. Cognitive hierarchy models (level-k models)

5. Cognitive bias. Prospect theory.

Query languages: SQL (5527)


Dr Maria Berger-Rifqi, Associate Professor with accreditation to supervise research

(October 2015)

Introduction

What is a database? What is a DBMS?

E-R conceptual model. Relational model

Relations, attributes, constraints, E-R translation

Relational algebra

SQL

Data Definition Language (DDL)

Data Manipulation Language (DML)

Query languages: VBA (5525) Dr Maria Berger-Rifqi, Associate Professor with accreditation to supervise research

(October 2015)

Generalities on VBA

VBA project

Variables

Dialogue box functions

Algorithmic structures

Access objects and collections

Risk Measurement (4415) Dr Ali Skalli-Houssaini, Associate Professor with accreditation to supervise research

(September 2015)

This course is an introduction to financial risk econometrics. The first part is a revision of the

specific features of financial returns, which result in their probability distribution not being

Gaussian. The second part tackles the relevance of variance as a risk measurement of non-

Gaussian distributions. The next part introduces different alternative risk measurements (target

semivariance, Value at Risk, etc.) and debates their statistical properties. Unlike variance, these

measurements are asymmetrical yet they remain just as sensitive to the heaviness of the

distribution’s tail. It is therefore important to use appropriate modelling methods for the

distributions of financial profitability in order to ensure the reliability of the risk measurements

that are inferred. The last part introduces the generalised Pareto distribution and presents how it

results in risk measurements that are quite different from those suggested by the normality

assumption.

Data Mining (SAS) (5522) Dr Sandra Cavaco, Associate Professor

(October 2015)

Databases management

- Importing tables, creating tables and joins

- Variable and format creation

Data transformation: descriptive statistics

- Quantitative variables: PROC MEANS, PROC UNIVARIATE, etc.

- Qualitative variables: PROC FREQ, etc.

Data restitution


- Graphs: PROC GPLOT, PROC GCHART, SAS INSIGHT, etc.

- Results report: ODS

Application in econometrics

- Linear regression and tests: PROC REG, PROC AUTOREG

Decision Theory: Risks and Uncertainty (4467) Prof. Lucie Menager

(September 2015)

Course : Decision theory: risk and uncertainty

Chapter 1: Decision making in a context of risk: expected utility

Chapter 2: Risk aversion measurement and risk measurement

Chapter 3: Decision making in uncertainty

Chapter 4: Public decision making in uncertainty

Decision Theory: Ambiguity (4478) Dr Chantal Marlats, Associate Professor

(October 2015)

Savage's model and its limits

Ambiguity models

Applications to environment and health

Limits of the ambiguity models

Signalling Theory (4532) Dr Chantal Marlats, Associate Professor

(October 2015)

Individual decision

Strategic interactions in uncertainty and information

Speculation

Public signal/private signal

Strategic use of information

Master's Degree in Economics and Management: Main option - Management Control and Techniques (1st year) (4251M)

Capital Markets (4294) Mr Christophe CHOUARD

(October 2014)

This course acquaints students with the mechanisms for the optimal allocation of capital from

savers (institutional investors, sovereign funds, etc.) to companies, private individuals and States.

The course first focuses on the notions of profitability and risk (which is always associated with

it), then on all the stakeholders who play a part in the intermediation of capital (commercial and

investment banks, fund managers, special purpose vehicles, etc.), and their objectives and

constraints, the instruments available for borrowing, investing and managing market risks, and

the links between macro-economics and finance.


Corporate Taxation (1184) Ms Astrid Masset


Production Management (4260) Ms Valérie Darthout


Human Resources Management (4254) Prof. Jérôme Duval-Hamel

Week 1: General overview of the course

What is an organisation?

What is HRM?

HR function: evolution and new challenges

Week 2: Choice of social policy and foundation of the employment relationship (1)

Knowledge of positions and forward-looking management - Towards more flexibility

Week 3: Choice of social policy and foundation of the employment relationship (2)

Recruiting processes - Classification and wages

Week 4: Human and social development (1)

Motivation, satisfaction and involvement - Career mobility and management

Week 5: Human and social development (2)

Appraisal and assessment - Training

Week 6: Labour relations (1)

Context of trade union relationships in western countries - Identities and trade union

strategies in France

Week 7: Labour relations (2)

Main representative institutions of the personnel - Conflicts and negotiation

Week 8: Overall synthesis and feedback.

International Marketing (4252) Prof. Patrick Hetzel

(October 2015)

The competitiveness of a national economy is measured, among other things, by its capacity to

conquer market shares abroad. That is why international marketing has become indispensable for

many of our companies. This course acquaints students with the high stakes and specific features

of marketing in an international context. It helps students to gain a full picture of that activity.

The course covers issues on market studies as well as international segmentation. Strategies for

entering international markets are addressed, as are the levers to be considered before

implementation. Concrete examples that are characteristic of international corporate

development, will be provided.

Project Management and Trade Negotiations (4323) Dr Yolande Piris, Associate Professor

Dr Etienne Maclouf, Associate Professor

(October 2015)


Dr Piris (October 2015)

The objectives of this course are the following:

Define trade negotiation

Identify negotiation dimensions

Identify negotiation strategies and tactics

Understand the role of negotiation in trade

Understand negotiation from a practical standpoint

The course is divided into two parts. The first part highlights the theoretical concepts of trade

negotiation and the second centers on its practical dimension with the presentation of the

different phases of negotiation and practical application with mini case studies and real-life

situations.

Dr Maclouf

This course is for non-specialists in management who wish to gain knowledge of basic notions of

project management. The course first defines concepts and situates project management in its

context, then tackles the main models and tools that are at work in public and private

organisations today. The objective is to understand that our way of conceiving and managing a

project is tightly linked to our conception of collective action: the more one belongs to the

rationalist paradigm, the more one plans a project. Conversely, the farther one is from that

paradigm the greater the role of improvisation and learning processes. At the end of the year,

students should be able to identify the different approaches, understand their respective

advantages and limits and interpret their results. The theories addressed are applied by students in

a personal assignment, which is assessed.

Strategy 1 (4402) Prof. Martine Pelé-Brou

(September 2015).

Analysis tools

Chap 1 - Competition analysis

Chap 2 - Strategic segmentation

Chap 3 - Experiment effect

Chap 4 - Activity portfolios

Chap 5 - Strategy and technology

Chap 6 - Value analysis

Strategy 2 (4411) Prof. Martine Pelé-Brou

(September 2015)

Main strategic orientations

Chap 1 - Directions

1 - Horizontal

2 - Vertical

3 - Diversification

Chap 2 - Modes

1 - Internal growth

2 - External growth


3 - Contractual growth: outsourcing, alliances, networks

Chap 3 - Dimensions

1 - Local

2 - Multinational

3 - Global

International Financial Strategy (4412) Mr Christophe CHOUARD

(October 2014)

This course presents the role of the chief financial officer in a company and the means at his/her

disposal at the international level to achieve objectives (choice of investment policy, merger-

acquisitions, access to capital markets, risk management, value creation, etc.). A good

understanding of the expectations and constraints of capital providers allows the chief financial

officer to create value for the company.

Advanced Business Law (MSG 2) (1042) Dr Matthieu Dubertret, Associate Professor

(September 2011)

PART I: Business contracts - Agency agreements - Sale and undertaking to sell - Business

contract and outsourcing - Transport contracts.

Part II: Company and competitors - Competition law - Protection of business assets (trademark,

patent and software law)

PART III: Advanced company law - Groups - Comparative company law.

Organisation theory (4454) Dr Emilie Soufflet, Associate Professor

(December 2015)


Master's Degree in Economics and Management: Main option - Business Management and Administration (1st year) (4321M)

Business Communication (4043) Prof. Hetzel

Prof. Legendre

(October 2015)

Prof. Legendre

This course presents the communication and media sector. It studies its structures and

stakeholders, its market at the national and international level, the different means of

communication and their respective parts, advertisers, media and agencies. It accounts for its

evolutions and perspectives. Regularly updated, it analyses the advent of digital technology and

its consequences for the sector.

Contents:


Some history

A few definitions

The market stakeholders

The share of the communication market in the economy

The advertising market in the world

The advertising market in France

General overview of the means and techniques of communication

Advertisers

Agencies

Prof. Hetzel

(October 2015)

We live in a society where communication is at work at every level. This reality is all the more

pervasive in the business world. The objective of this course is to acquaint students with the

challenges of communication for companies. The course constantly refers both to theoretical

concepts as well as very practical and concrete examples. At the end of the course, students will

know how to develop an efficient communication strategy for a company and will understand

what its possible pitfalls may be. This course provides essential basics for anyone planning to

work in the marketing or communication sectors,.

Dispute Resolution and Litigation (1288) Dr Farah Safi, Associate Professor

(September 2015)

Though the law is linked to the existence of a society, and though the aim of the rule of law is to

govern relations among the members of that society, the application of the rule of law may

nonetheless create a conflict, a dispute. The role of the law is to ensure the settlement of disputes

so as to guarantee social peace. To make sure that justice is done, dispute settlement should be

entrusted to an independent and impartial authority. That is why that mission is normally

entrusted to a court, which ensures public service of justice. Justice is a duty of the State, and

State courts are in charge of settling disputes.

However, not all disputes are necessarily resolved by State courts. Indeed, even if the trial before

a State court remains the main mode of litigation settlement, alternative modes of dispute

settlement are becoming more widespread today. This means arbitration, conciliation or

mediation.

This course studies the different types of dispute resolution. The first part focuses on dispute

settlement by courts. This chapter will be the moment to revise the typology of the authorities

allowed to settle a dispute, and the principles and conditions that govern the trial (fundamental

principles of justice and conditions for an action). The second part centers on the alternative

modes of dispute resolution. Arbitration, conciliation and mediation will be studied.

Tax Law (1187) Ms Masset

(September 2011)

INTRODUCTION - Sources - General characteristics of taxation - The role of the administration:

framework setting and control

Section 1. VAT


Presentation - Determination of the tax. Scope, VAT liability. Deductible VAT - Tax payment -

Special regimes

Section 2 Taxation of profits Subsection 1. Taxes on the profits made - General (commercial and non-commercial) principles -

Determination of taxable profit: taxable products, deductible expenses - Profit taxation:

companies subject to income tax and corporate tax

Subsection 2. Taxation of distributed profits

Section 3. Registration fees Presentation - Contributions to companies - Duties owed for transfer of ownership or enjoyment

of property: movables and immovables - Business operation and dissolution

Section 4. Taxation of structures

Groups - Restructuring

Section 5. Corporate tax and payroll tax

Industrial Economics (4171) Dr Kim Huynh-Besancenot, Associate Professor

(October 2015)

This course acquaints students with the theoretical models and tools that are essential in industrial

economics to understand companies' strategies and competition on markets. The introduction

focuses on the object and history of industrial economics. The course covers strategic behaviour

and market performance, strategic behaviour and collusion on the markets, strategic behaviour

and differentiation among goods, strategic behaviour and pricing, strategic behaviour and barriers

to market entry.

European Businesses (4195) Prof. Frédéric Zumer

This course is divided into three main parts:

The first part situates the nature of economic issues among national powers, European trade

and the weight of companies in the European zone.

The second part covers the main sectors where Europe is leading (cars, telecommunications,

aerospace industry, chemistry, distribution).

The third part defines the international strategies of European companies: market share take

over, stand-by position, direct investments, strategic alliances, etc.

Project Management and Logistics (4265) Ms Valérie Dhartout

This course is divided into two main parts:

Initiation to logistics concepts, which helps students to understand and master the supply,

production, distribution and planning processes of a company

Practical logistics (case study, examples, press reviews, etc.)

Social and Labour Management (4267) Dr Catherine Voynnet-Fourboul, Associate Professor

(September 2015)

This course presents the fundamental aspects of human resources management: the HR function,

position and talent management, diversity, social dialogue, recruitment, training, assessment


procedures, remuneration, etc. Starting from the functional, cultural and structural vision of the

organisation, the course moves on to the strategic, human and managerial dimension of HR. The

aim is to increase awareness among students of the wide range of fields that must be activated

(law, management, organisational behaviour, psychology, etc.) in order to manage the company’s

human dimension and to provide the theoretical foundation necessary to pursue, for example, a

Master's degree in human resources or a PhD in management. A self-assessment questionnaire on

line ensures that the course is well understood.

Corporate Information Systems (5058) Dr Fabienne Jezequel-Proux, Associate Professor

(September 2015)

This course provides students with professional knowledge of computing. It furthers the use of

office automation software and introduces students to VBA programming applications.

Customised feature programming, macro programming, interface development and conception of

simple algorithms are studied. The course is illustrated with many practical VBA examples.

Tutorials provide practical computer applications of the notions presented in class and aim at

designing simple applications that meet a professional need.

Marketing (4251) Dr Yolande Piris, Associate Professor

Prof. Mathilde Gollety

(October 2015)

Prof. Gollety (September 2015)

This course covers the main concepts of marketing. First, it describes the changing definition and

scope of marketing, then it presents the stages of the marketing approach. The relation between

strategic and operational marketing is emphasised. The notions related to marketing variables, i.e.

product, price, communication and distribution are tackled. Special attention is paid to consumer

behaviour, and to the tools and techniques that provide insight into consumer choice.

Dr Piris (October 2015)

In this course students are introduced to the different stages of the marketing approach. They

discover marketing strategy based on three main concepts: segmentation, targeting and

positioning. They are then shown the benefits of marketing studies and are introduced to

qualitative and quantitative approaches. Lastly, they tackle operational marketing with product,

price, communication and distribution policies.

Business Strategy (4395) Prof. Martine Pelé-Brou

(September 2015)

This course in the general policy of the company centers on the analysis of current corporate

strategies. The first part furthers the study of analysis tools that industrial companies have at their

disposal. The second part develops the strategic orientations that companies choose, then

analyses their choice of growth directions, modes and dimensions. Emphasis is laid on the

explanation of the main strategic trends today. Further information is available online at

http://www.msgparis2.net/index.php?idx_page=707

Introduction to Research in Management (4336)


Dr Dorin Militaru, Associate Professor

(October 2015)

This course presents the main approaches of management research. It allows students to choose

an epistemological position, a methodology, the most relevant research tools for a given

management problem and to interpret the results. The objective is to raise awareness of the

fundamental recurrent questions of research, to provide strong grounds for reflection to tackle an

individual research assignment. At an operational level, it aims to present different methods:

quantitative and qualitative ones, case studies, data collection, etc. Several complementary topics

are addressed to highlight the analysis and interpretations of management phenomena:

- Knowledge, truth / know-how, utility, sector-organisation function

- Deductive and / or inductive reasoning

- Levels or aims of research: description / classification, comprehension, explanation and / or

prescription

- Typology of research in management and types of thesis

- Research strategies and researcher's strategies

Organisation Theory (4454) Dr Emilie Soufflet, Associate Professor

(December 2015)


Financial Accounting and Audit (4064) Ms Astrid Masset

Master's Degree in Economics and Management: Main option - Managerial and Industrial Economics (1st year) (4214M)

Data Analysis for Business (4001) Dr Fathi Fakhfakh, Associate Professor with accreditation to supervise research

(October 2015)

This course acquaints students with the non-econometric treatment of data. It opens with a short

revision of statistical and mathematical notions (distributions, variance decomposition,

independence test and matrix processing) and the analysis of a set of quantitative variables. Based

on the notion of Euclidian distance, it shows how individuals may be more or less similar. The

first chapter presents Principal Component Analysis (PCA), which is valid in the case of

quantitative variables. This technique makes it possible to project individuals onto a smaller

space, while rendering maximum information. This chapter also makes it possible to suggest a

grouping of individuals (a typology) depending on their similarity, using Hierarchical Clustering

Analysis (HCA).

The two following chapters focus on the case of qualitative variables. Correspondence Analysis

(CA) is recommended in case of two qualitative variables, while Multiple Correspondence

Analysis (MCA) is recommended in the case of several qualitative variables. The last chapter is a

short econometric introduction to the model of dichotomous choice (probit and logit), which

provides insight into the determinants of an individual's belonging to a given class.


This course gives students an empirical and applied approach, with the use of SAS software (in

class, during tutorials and for projects).

Financial Analysis (4014) Prof. Jean Mercier-Ythier

(September 2015)

Financial theory

- Introduction to contingent market theory

- The stock exchange

Financial analysis of the balance sheet and statement of profit and loss

- Financial reading of the balance sheet

- Financial reading of the statement of profit and loss: financial analysis using flow charts

- Financing table

- Cash flow table

Profitability diagnosis

- Accounting analysis

- Financial leverage effect

Competition Law and Regulation (1138) Dr Laurence Nicolas-Vullierme, Associate Professor

(October 2015)

Competition may be of interest for both the economist and the law specialist, but each approach

is necessarily different, though complementary. The implementation of competition rules

(prohibition of agreements, abuse of a dominant position, merging of businesses, State aid)

requires an ever tighter cooperation between economists and law specialists. Competition law

uses the work and tools of industrial economics (game theory, etc.). With concrete examples, this

course tackles a dozen current topics while highlighting the links between economics and law:

the role of economics in competition law is increasing, as is the regulation of sectors that are

open to competition, the fight against cartels, corporate competition culture, the French version of

class action, the strategies of companies faced with competition investigation, etc.

Applied Econometrics (4112) Prof. Alain Pirotte

(September 2015)

This course is the continuation of the 3rd-year course. It is divided into six chapters. Each of

them combines the necessary theoretical groundwork with a substantial practical dimension,

while avoiding heavy demonstrations. It starts with an examination of the endogeneity of

explanatory variables and its consequences. It then moves on to specification problems, dynamic

models, systems of equations, and ends on an introduction to the econometrics of qualitative

variables. The empirical dimension of the course lies in the wide range of examples provided:

wage equations and returns on education, supply and demand systems, a model of women's

labour market participation, etc. Applications are realised with Eviews.

Economics of Internet and Networks (4159) Prof. Laurent Benzoni

(September 2014)


This course presents the main elements needed to understand the multiple aspects of the Internet

ecosystem using the tools of economic analysis. It follows a progression going from the

economics of electronic communications network infrastructures (without which no signal can be

transmitted) to the economic analysis of contents, of online advertisement and electronic means

of payment.

There are twelve two-hour sessions, and each tackles a particular topic (cf. table below).

1 - Introduction: Overview of the field and the course

2 - Fixed infrastructure network economics

3 - Mobile infrastructure network economics

4 - Access to networks, interconnection and Internet neutrality

5 - Networks and externalities

6 - Networks and two-sided markets

7 - Economics of social networks and personal data

8 - Economics of social networks and personal data

9 - Content economics and the Internet

10 - E-commerce and auction mechanisms

11 - Advertisement on the Internet

12 - Economics of electronic means of payment

Classes are taught by Paris-2 professors and expert professionals. There are also 15 tutorials

where the concepts that are presented and developed are further studied based on text study and

exercises.

International Industrial Economics (4158) Prof. Jean Mercenier

(September 2015)

Chap. 1: A refresher on (positive) classical trade theory (Ricardo vs. H-O-S).

Chap. 2: Krugman P (1979), Increasing Returns, Monopolistic Competition, and International

Trade, Journal of International Economics 9: 469-479.

Chap. 3: Jung J. and J. Mercenier (2014), On Modeling Task, Skill and Technology Upgrading.

Effects of Globalization with Heterogeneous Labor, Economic Modelling 39:49-62.

Chap. 4: Brander J. and P. Krugman (1983), A "Reciprocal Dumping" Model of International

Trade, Journal of International Economics 15: 313-323.

Chap. 5: Mercenier J. (1995), Can "1992" Reduce Unemployment in Europe? On Welfare and

Employment Effects of Europe's Move to a Single Market, Jour. Policy Model. 17:1-37.

Chap. 6: Lommerud K., F. Meland and O. Rune Straume (2009), Can Deunionization Lead to

International Outsourcing, Journal of International Economics 77: 109-119.

Chap. 7: Brander J. and B. Spencer (1984), Tariff Protection and Imperfect Competition, in:

Kierzkowski H. (ed), Monopolistic Competition and International Trade, Oxford U. Press.

Chap. 8: Raff H. and N. Schmitt (2011), Manufacturers and Retailers in the Global Economy,

Mimeo.

Chap. 9: Melitz M. (2003), The Impact of Trade on Intra-Industry Reallocations of Aggregate

Industry Productivity, Econometrica 71 : 1695-1725.

Chap. 10 : Combes P., J. Thisse et T. Mayer (2006) L'intégration des régions et des nations.

Economica, Paris.

Economics of Company Organisations (4134) Dr Claudine Desrieux, Associate Professor


(September 2015)

This course centers on the economic vision of the company. It presents works that have tried to

go beyond the neo-classical vision of the firm as a simple production function. Based on the

founding text by Coase (1937) on the nature of the firm, it relies on the theory of transaction costs

(Williamson 1975, 1985), and on the theory of incentives and the notion of information

asymmetry. It provides the theoretical tools to understand issues as diverse as that of

externalisation, arbitration between "firm and market', and the development of partnership

between different companies. Emphasis is laid on the internal operation of big companies, the

separation of control and ownership, the shareholder/officer relationship, and business

governance. The question of corporate finance is studied, notably by comparing the consequences

of resorting to bank debt or market, both from the financial standpoint and with regards to control

over the company. Company takeovers by way of leverage or “holding” systems are also

presented using this double perspective.

The Economics of Human Resources and the Labour Market (4155) Prof. Marc Ferraci


Computing for Decision-Making (5073) Prof. Michel De Rougemont

(October 2015)

This course presents the main analysis tools, based on data on a Mysql server. The relational

model is revised and the OnLine Analytical Processing (OLAP) model is introduced, which

makes it possible to represent multidimensional queries associated with an OLAP diagram.

Graphical spreadsheets are described and data mining is presented within this framework. For

Twitter data, other analysis tools are presented. Turorials are described at http://www.up.fr/M1/ .

They use the MySQL, PHP, Mondrian, dTree and Weka tools. The content of the course is

available online at http://www.liafa.jussieu.fr/~mdr/M1.htm

Marketing (4250) Prof. Mathilde Gollety

(September 2015)

This course covers the main concepts of marketing. First, it describes the changing definition and

scope of marketing, then it presents the stages of the marketing approach. The relation between

strategic and operational marketing is emphasised. The notions related to marketing variables, i.e.

product, price, communication and distribution are tackled. Special attention is paid to consumer

behaviour, and to the tools and techniques that provide insight into consumer choice.

Business Investment Decisions (4095) Prof. Damien Gaumont

(October 2015)



Master's Degree in Economics and Management: Main option - Monetary, Financial and Banking systems (1st year) (4271M)

Financial Analysis (4014) Prof. Jean Mercier-Ythier

(September 2015)

Financial theory

- Introduction to contingent market theory

- The stock exchange

Financial analysis of the balance sheet and statement of profit and loss

- Financial reading of the balance sheet

- Financial reading of the statement of profit and loss: financial analysis using flow charts

- Financing table

- Cash flow table

Profitability diagnosis

- Accounting analysis

- Financial leverage effect

The Current Economic Climate (4085) Prof. Aimé Scannavino

This course tackles the important issues of current economic climate in relation to major

economic events. Consequently, the main topic changes from one year to the next. The course

builds data collection skills, , especially in statistical data, and insists on the precautions to be

taken when analysing data (diversity of concepts depending on the sources, chronology of the

publication of indicators, issues related to their design, break in series or base change, etc.). It

links short-term analyses with macro-and micro economic reasoning. One of the course

objectives is to train students to write a relevant, short (two-page) note on the current situation in

order to build skills to meet the needs of research services, forecasting agencies, financial

institutions, companies or administrations. Students learn how to write in a way that is different

from essays or theses, and that is a crucial skill for a professional career. Throughout the

semester, writing principles are taught and practiced during tutorials.

The Economics of Human Resources and the Labour Market (4155) Prof. Marc Ferraci


Advanced Monetary Economics (4153) Prof. Sébastien Lotz

(October 09)

This course presents recent developments in monetary theory and the implementation of

monetary policy. The analysis is carried out at the theoretical and empirical level, during classes

and tutorials. The theoretical approach is based on microeconomic foundations, such as

overlapping-generations or search models. The empirical approach uses texts and reference

articles in the monetary, banking and financial fields. The objective is for students to acquire


skills in the construction of models to better understand the role of currency, banks, monetary

policy and underlying financial issues.

Financial Asset Valuation (4198) Prof. Aimé Scannavino

(September 2015)

The foundations of financial theory: arbitrage, efficiency assumption, rational expectations

assumption

Fundamental mathematical concepts: filtrations, conditional expectation

Processes as (1) sequences of random variables and (2) possible families of trajectories

Simulation techniques

Assumption of efficiency and its modelling and tests

Equity portfolio management: from CAPM to "active" management:

Utility functions with risk aversion

Efficient frontiers

The concept of "market portfolio"

The CAPM as an assessment theory and its fundamental relations

Passive portfolio management and assessments with betas

Active management beyond CAPM

Bond portfolio management: risks, assessments, immunisation models

Swaps : (1) General presentation (2) interest rate swaps structure and assessment

Futures markets:

Presentation of "forward" and "futures" markets

PTIs and their conditions for validity

Determining a futures price based on information environments

Arbitrage operations on futures

Share options

Presentation of tools and strategies

The general equilibrium theory with CCA applied to security valuation

- theoretical principles

- hypothesis of "complete markets"

- hypothesis of a "lack of arbitrage opportunities"

The Cox-Ross-Rubinstein binomial model (discrete time) applied to European option pricing

Elements of stochastic calculus

- Brownian motion and geometric Brownian motion

- Ito's lemma

- Reflections on stochastic integral

- The Black-Scholes model applied to European option pricing (continuous time)

- Demonstration of the Black-Scholes formula

- Application of the formula

The limits of Black-Scholes

- Volatility issues

- Non-Gaussian stock price

- Stock price with non-continuous trajectory

Basel III: principles and models

Valuation of bonds with credit risk, references to option models (sovereign debt valuation)

The Modigliani-Miller theorem on the value of a corporation, with reformulation and options


Capital Markets (4276) Prof. Catherine Lubochinsky

(October 2015)

Introduction: Presentation of finance and its weight in the economy

Chapter 1 Interest rate and savings transfers (level and structure of interest rates, savings

transfers and debt sustainability, consequences of long-run low rates)

Chapter 2 Debt securities (money market; bond market; price/performance//cost to

performance and long-term securities risks; sovereign debt crisis)

Chapter 3 Securities market (institutional framework; market infrastructure; security price

valuation; high-frequency trading)

Chapter 4 Derivative markets (futures, options and other contingent products)

Chapter 5 Financial stability and systemic risk

Macroeconomic and Financial Forecasting Techniques (4266) Prof. Aimé Scannavino

(September 2015)

Part I: Markovian and non-Markovian forecasts

- Times series and stochastic processes: fundamental concepts

- Forecast databases models

- Simulation forecast principles (with computer programs)

- Discrete-time Markov chain forecasting, with applications and simulations

- Forecasts and Poisson process, with applications and simulations

Part II: Time series forecasting

- Stationarity concepts

- Analytical tools : ACF and PACF

- Probability distribution typology

- Analyses of parametric and non-parametric Value-at-Risk with exponential and

polynomial heavy tail probability distribution - towards stable distributions

- AR, MA, ARMA, and ARIMA process

- Random walk process, applications to efficiency assumptions

- Unit root tests

- Analyses and cointegration tests

- Forecasting with heteroscedasticity models, applications to financial volatilities

- Forecasting with long-memory models and fractal analyses

- Forecasting with switching models

- VAR modelling

Part III: Forecasting with game theory

Time Series (4386) Prof. Georges Bresson

(September 2015)


Portfolio Theory and Management (4461) Prof. Catherine Lubochinsky

(October 2015)


Chapter 1 Introduction to asset management

Chapter 2 Profitability, risk and efficient portfolios

Chapter 3 Portfolio optimisation

Chapter 4 Performance measurement / portfolio risk

Chapter 5 Inefficiencies and behavioural finance

Chapter 6 Alternative management

Chapter 7 Bond portfolio management

Chapter 8 Use of derivatives in portfolio management

Cooperative Game Theory (4469) Dr Chantal Marlats, Associate Professor

(September 2015)

Negotiation

Games that possess removable utility

The core in games that possess removable utility

The Shapley value in games that possess removable utility

Other solution concepts

Games that possess no removable utility

Matching problems

Applied Mathematics for Finance (4334) Dr Naïla Hayek - Abou-Chahine, Associate Professor

(September 2015)

I Static optimisation (Revisions and complements)

- Constrained and non-constrained extrema. The existence theorem

- Necessary conditions, sufficient conditions of optimality. Lagrange multipliers

- The Kuhn-Tucker theorem.

- Generalised Lagrangian

- Applications: Portfolio management, hedging on a futures market

II - Dynamic optimisation

1/ Variation calculation

- Necessary conditions and sufficient conditions of optimality. Euler-Lagrange equation

- Applications: problem of consumption, saving, etc.

2/ Deterministic optimal control

- Necessary conditions and sufficient conditions of optimality. Pontryagin's maximum principle

- Applications: portfolio management when there are transaction costs, etc.

3/ Introduction to the Dynamic Programming Principle

Computing (VBA) (5050) Dr Maria Berger-Rifqi, Associate Professor with accreditation to supervise research

(October 2015)

Recorded and interactive macros. VBA principles

Writing customised functions

Variables

Dialogue box functions

Algorithmic structures


Creation of graphical interfaces

Construction of functionalities in Userforms

Dynamic management of components in Userforms

Passing arguments

Error handling

Integration of funtionalities in Excel (Userforms, sheets, charts)

Applied Game Theory (4463) Dr Joseph Lanfranchi, Associate Professor

(October 2015)

Objectives:

This course aims to acquaint students with game theory practice and show how useful this subject

is to understand numerous applied situations in economics. Game theory helps to understand the

resolution of situations in which several decision makers have to choose among several possible

actions and interact at the same time.

Introduction to representation in the form of games of economic interaction

Chapter 1: Normal-form games and Nash equilibrium

Chapter 2: Applications of Nash equilibrium

Chapter 3: Equilibrium in mixed strategies

Chapter 4: Dynamic games of complete information

The Current Economic Climate (4085) Mr Michel Ruimy

(December 2015)


International Macrofinance (4280) Prof. Jean Mercenier

(September 2015)

Syllabus:

Chap. 1 Expectation modelling: adaptive expectations; rational expectations.

Chap. 2 A few macroeconomic models of open economy with rational expectations: variations on

the Dornbusch model.

Chap. 3 Inter-temporal exchanges and determining the current account balance. (Ref.: second

chapter of Obstfeld and Rogoff, 1995, Foundations of International Macroeconomics, Mc Graw

Hill.)


Master's Degree in Economics and Management: Main option - International Economic Governance (1st year) (4216M)

Managerial Economics (4175) Dr Véronique Jerôme, Associate Professor


The International Economic Environment (4202) Prof. Frédéric Zumer


International Business Methodology (4337) Dr Bruno Jerôme, Associate Professor

(September 2015)


Demographic Economics (4130) Prof. Jean-Didier Lecaillon

(October 2015)

Human populations are at the heart of economic activity and special attention must be paid to the

relations between the characteristics of those populations and development conditions. Studying

that central issue should help to elaborate a reflection on the human dimension of economic

issues. Students must be able to link theoretical teachings and actions to be taken on

contemporary themes and assess the complexity of their environment. This course provides the

opportunity to confront different theoretical analyses in order to highlight, from en economic

perspective, a certain number of current issues such as, for example, growth, the renewal or

ageing of populations, and to situate them within a global environment. The course focuses on the

acquisition of technical observation tools.

Theory of International Institutions (4248) Dr Bruno Jerôme, Associate Professor


Computing (5221) Dr Fabienne Jezequel-Proux, Associate Professor

(November 2008)

This course provides students with professional knowledge of computing. It furthers the use of

office automation software and introduces students to VBA programming applications.

Programming customised functions, macro programming and interface development are studied.

Economic Analysis of the State (4022) Dr Bruno Jerôme, Associate Professor



International Foreign Policy (4344) Prof. Aimé Scannavino

(September 2015)

Major powers: United States, Europe, Japan

Emerging countries

Monetary and financial policies

Budget policies

Industrial policies

Competition policies

Research and development policies

Agricultural policies

Environment policies

Protectionism

Growth and tensions over non-renewable resources

Global Economic Security (4169) Prof. Sacha Bourgeois-Gironde

(September 2015)

This course is at the crossroads of game theory (cooperative and non-cooperative), the analysis of

global security phenomena, and more, broadly, international relations. The types of issues tackled

are related to cooperation among individuals, States, as well as individuals and States, modelling

the role and operation of big international organisations (e.g.: NATO Security Council, WTO),

the role of private or non-governmental stakeholders on the international stage, terrorism

deterrence, development of a global civil society, the claims of minorities (especially linguistic

ones), poverty, etc. Student success depends on the acquisition of basic analysis tools in game

theory and intellectual curiosity about global public affairs.

European Economic Policy (4488) Prof. Aimé Scannavino

(September 2015)

Europe and the crisis

The ECB and monetary policies in Europe

Financial policies in Europe

Sovereign debt in Europe

Stability pact and budget policies

Taxation policies in Europe

Trade policies in Europe

The Euro

The issue of optimal monetary zones

Industrial and competition policies in Europe

European industrial structures

Labour cost in Europe

The CAP

Is Europe a great power?

Cultural Foundations of Economies (4204)


Prof. Jean-Didier Lecaillon

(October 2015)

This course is designed with a view to initiate students to research, as it proposes to demonstrate

then teach students how to carry out inquiry on the possibility, modes and perspectives of

deepening the link between culture and economics. Methodological, epistemological and political

challenges are given special attention, using the main theories formulated on this matter, while

experimental possibilities and the available results of major surveys are studied.

Econometrics in an International Context 1 (5026) Syllabus not communicated to date

Econometrics in an International Context 2 (5226) Syllabus not communicated to date

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