École du management et de l'innovation, Master in Economics and Business
money, inﬂation, and monetary policy. Then, the course describes monetary policy in action, i.e. monetary policy transmission mechanism, effects of monetary policy and institutional framework of major central banks. The course ends by exploring and discussing the recent use of unconventional monetary policies like quantitative easing, collateral easing, forward guidance. Required reading : Friedman, M. and A. Schwartz, A Monetary History of the United States 18671960, Princeton University Press, 1963 ; Bernanke, B., Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression, AER, 1983 ; Champ, B. and S. Freeman, Modeling Monetary Economies, Cambridge University Press, 2011 ; Walsh, C., Monetary Theory and Policy, MIT Press, 2010 ; Woodford, M., Interests and Prices : Foundations of a Theory of Monetay Policy, Princeton University Press, 2003.
critical global challenges. The course looks at : civil society and social investing : philanthropy, impact investing, social business ; evaluation and motivation to produce systemic change. The course aims to improve understanding of the role of citizens, civil society organisations, business, the public sector and provide options for addressing the challenges of this millennium. It combines theory and practice, academic knowledge, case studies and discussions with : impact investors, foundation ofﬁcers, and corporate leaders from Europe and the United States. Required reading : Sievers, Bruce R., "Civil Society, Philanthropy and the Fate of the Commons," University Press of New England, 2010 ; Reich, R., “A Failure of Philanthropy : American Charity Short changes the Poor, and Public Policy is Partly to Blame,” Stanford Social Innovation Review, 2005. ; Achleitner, Ann-Kristin. Heinecke, Andreas. Abigail, Schöning. Mirjam, and SpiessKnaﬂ, Wolfgang., “Social Investment Manual : An Introduction for Social Entrepreneurs”, Schwab Foundation and Technische Universität München, September 2011, pgs. 5 – 8. ; Brest, Paul., “A Decade of Outcome-Oriented Philanthropy,” Stanford Social Innovation Review”, Spring 2012. ; Bannick, Matt and Goldman, Paula, “Priming the Pump : The Case for a Sector Based Approach to Impact Investing, Omidyar Network, 2012. Full Report : https ://www.omidyar.com/sites/default/ files/file_archive/insights/Priming%20the%20 Pump_Omidyar%20Network_Sept_2012.pdf.
PHILANTHROPY AND SOCIAL INVESTING
Semester : Autumn Number of hours : 24 Language of tuition : English
Opened to the exchange program
Teachers : Judith SYMONDS (Consultante, JCS International). Prerequisite : None. Pedagogical format : Elective Course validation : Continuous assessment : Syllabus Reading Analysis and Class participation (35%), Group presentations (30%), ﬁnal research paper 45%). Workload : 12 seminars of two hours each (24 hours). Workload/ Charge de travail : Weekly brief reading analysis, Group Presentation and Final Research Paper – 5,000 words. Credits : 4. Pedagogical method : The session format is a combination of topic overview lectures, individual short presentations based on syllabus reading, one group project (case study and presentation) with expert guest lecturers for 5/6 of the session themes, plus a ﬁnal research paper. Course Description : The 21st century is the age of increasing civic engagement, new philanthropy, social investing and hybrid solutions to resolve societal issues. It is a society seeking values, inﬂuenced by the 'Millennial Generation, addressing
RATINGS - SOVEREIGN AND MACRO RISKS
Semester : Spring Number of hours : 12 Language of tuition : English
Opened to the exchange program
Teachers : Nicolas PAINVIN (Group Credit Ofﬁcer for Infrastructure, Project Finance and Public Finance, Fitch Ratings). Prerequisite : A good understanding of the basic macro-economic principles (economic growth, unemployment, interest rates, inﬂation and budgetary policy), is necessary for this course. Pedagogic