Le Grand Syllabus 2017/2018
build each session around business cases, short research pieces or newspaper articles, leveraging the inputs and background of class participants. Therefore, participation is a key component of the course and everyone will be expected to contribute one's past experience, knowledge and preparatory work. We will also approach basic concepts in this discussion mode rather than through onesided communication. Course Description : This course is designed to explore the economic, social, legal, and political issues that arise around debt policy and renegotiation, for national governments, public bodies, ﬁnancial institutions, corporate ﬁrms or even households. The discussion will take the perspective of each of these different types of debtors, and that of their creditors, regulators or other stakeholders, whether individuals or institutions, states or hedge funds. Understanding the mechanisms of international debt capital markets and the fundamental drivers of credit risks is at the core of the course. But this objective will be achieved through the discussion of practical situations. While studying real cases, we will focus on decision-making processes in critical situations such as sovereign and banking crises, major corporate restructurings or national debates on household ﬁnance. In particular, we will discuss the recent ﬁnancial crisis, from its origins as a national housing problem to its development as a one of the major international economic and political crises of the last decades. In our sessions, particularly when exploring ﬁnancial crises, we will debate the challenges that these pose to the ways in which market players have traditionally assessed and managed credit risk and what changes this may imply to the approach that governments, regulators, or international ﬁnancial institutions follow. This fundamental course on credit is designed for all students, irrespective of their concentrations and future career choices, as it tackles concerns relevant to investors, entrepreneurs, regulators, academics or journalists, consumers and mere citizens alike. Thus, while it introduces basic ﬁnancial concepts related to debt, the course will not be taught as a quantitative curriculum for ﬁnancial credit analysts. Instead, it will focus on a general understanding of debt issues, emphasize some usual conceptual pitfalls and encourage creative thinking among participants. 1174
The class will host occasional guests : senior executives from the private or public sector will provide their perspective on the cases and issues discussed, often ones which they or the institutions they represent played a major role in. Guests will also be available to answer questions about their experience and their present jobs. Required reading : to be deﬁned.
DECARBONISATION SCENARIOS AND RENEWABLE ENERGY SOURCES
Semester : Spring Number of hours : 24 Language of tuition : English
Teachers : Manfred HAFNER (Economiste et Professeur). Pedagogical Format : Seminar Course validation : The course evaluation will consist of ongoing active and intelligent class participation, Mid-Term and a Final Exam. Exam questions will consist both of some questions allowing to evaluate understanding of some major concepts, as well as some questions allowing to evaluate the ability to apply the material learned to real-life questions (for example advising a policy maker or a CEO of a company on a speciﬁc problem). In the evaluation, conciseness and precision of the answers to the questions asked will be relevant. Mid-Term and Final exam grade will contribute each by 40% of the ﬁnal grade, while active and intelligent class-participation will contribute by 20% of the ﬁnal grade. Workload : Students are expected to regularly do the assigned readings. After every lecture, the Professor will send out an email assigning speciﬁc readings to deepen the topic of the lecture and to assign readings to prepare for the next class. The readings are complementary to the lectures. Pedagogical Method : The Cour