Curriculum

Consumer Theory: Hypotheses about consumer preferences; Representation of preferences through utility functions; Budget constraint and consumer choice; Demand, price effect, and income effect; The Slutsky equation and the revisited Slutsky equation; Market demand; Elasticities and consumer surplus; Revealed preference; Intertemporal choice; Theory of choice under risk and applications; Partial equilibrium analysis.Firm Theory: Production; Costs; Profit maximization and cost minimization; The firm's choice in a competitive environment.General Equilibrium: Equilibrium in an exchange economy; Equilibrium and efficiency: the first and second welfare theorems.
Syllabus

This course focuses on Sustainable Finance & Climate Risk Management through a quantitative approach. During the classes students will be equipped with the insights, frameworks, and skills to evaluate environmental, social, and governance (ESG) factors and measure and manage impact resulting from investments. We will explore the evolving sustainable investing landscape, understand how to incorporate ESG factors into investment decisions, gain insights into climate risk and how to incorporate those implications into financial models, and develop a new perspective on the interaction of investing and impact. Bellow we have the key concepts that will be covered and the main learning goals:
 

• Explore the evolving sustainable investing landscape
• Understand how to incorporate ESG factors into investment decisions
• Apply frameworks to measure and monitor sustainable investment opportunities
• Analyze cutting-edge implementation strategies
• Gain insights into the climate risk inherent in investment opportunities
• Discover how to integrate risks into financial models
• Think critically about how and where to add value while avoiding “impact washing”

Prerequisites (recommended): basic level of knowledge in Financial Mathematics, Investment Analysis and Microeconomics

• FGV Undergrad in Economics: Investments course
• FGV Undergrad in Business Administration: Financial Management I course

This course is an introduction to the main topics in modern Political Economy. In this class, Political Economy is the study of politics with the tools of Economics. For example, we will study colonialism and its effects, how authoritarian governments rule, and the relationship between politics and organized crime.The lectures will be in English, but students can participate and present in Portuguese if they prefer.

Environmental economics: Welfare under externalities. Coase theorem. Theory of environmental policy. Climate change and DICE models. Value of a statistical life. Externalities under perfectcompetition, imperfect competition, imperfect information, and leakage. Impacts of air pollution and water pollution. Impacts of heat. Cost-benefit analysis. Hedonic valuation and revealed preference.

Introduction. Asset Allocation. Options Strategies. Swaps, Forwards, and Futures Strategies. Fixed Income Portfolio Management. Equity Portfolio Management. Risk Management.

This course focuses on corporate finance as it pertains to regulated utilities – energy, water, transportation, telecommunication, and other infrastructure firms. Corporate finance comprises the decisions and operations made by firms; perhaps the most important of these are the investment decisions firms make and the financing of such investments. Capital-intensive, regulated utilities are different from unregulated firms in that they cannot make such decisions with abandon. Rather, many of their decisions must be vetted and approved by utility regulators, considering that they do not operate in competitive markets. Thus, the main goal of this course is to provide an understanding of the economic, financial, and accounting concepts that are most relevant to regulated utilities. The classes will cover four big themes:
Part I – Key concepts of corporate finance, especially those related to regulated utilities.
Part II – Issues of risk, which regulated firms and regulators alike must address, including business, financial and regulatory risks.
Part III – Some fundamental issues that affect regulated utility investment decisions – in particular, wediscuss options and derivatives and capital budgeting decisions.
Part IV – Issues related to the financial operations of regulated utilities, including accounting standards that regulated utilities must use and the accounting rules needed to separate regulated from unregulated activities when a firm performs both.
Prerequisites (recommended): basic level of knowledge in Financial Mathematics, Investment Analysis and Microeconomics

• FGV Undergrad in Economics: Investments course
• FGV Undergrad in Business Administration: Financial Management I course

Ementa

Real business cycle models, price rigidity, fluctuations around steady state, discussions on equilibrium existence and unicity. multiple equilibria model and possible interpretations for crises. coding numerical solutions to appraise macroeconomic fluctuations.
Ementa

Labor supply and demand theory, labor market equilibrium, wage structure, dual labor markets, discrimination, labor market policies;
Syllabus

Introduction: marketing strategy and consumer behavior. Microeconomics approach to marketing strategy: the Dorfman-Steiner theorem. Impact evaluation of marketing expenditures on firms´ sales, econometric issues: simultaneity, market share models, dynamic effects, causality. Determinants of consumer behavior in markets with differentiated products. Discrete choice models: probit/logit, multinomial logitm ordered probit. Censored data: tobit estimation model. Panel data analysis applied to consumer behavior.
Syllabus