Courses

Politics of Public Policy (PubPol 510) - Winter 2023

This section of 510 focuses on political strategy and policy processes in comparative perspective. Students will learn how national and regional contexts shape governing institutions, political cultures, stakeholders and strategies, and will develop tools to inform and influence policymaking given these differences.  Overall, the course trains students: a) to analyze critically and in-depth the political dimensions of pressing policy issues; b) to engage in issue advocacy from grassroots mobilization to lobbying across national contexts; c) to develop a nuanced understanding of different including opposing interests in the policy process; d) to understand the policymaking environments of countries in Europe, Asia, and Africa, in comparative perspective with the United States; e) to work in teams; and f) to improve written and communication skills.

Introduction to Policy Writing (PubPol 521) - Winter 2023

This course teaches the norms of policy writing to 1st year policy students. Through small workshops, students will analyze approaches to different types of policy writing. They will produce a good deal of writing - and receive detailed criticism - in a relatively short time to facilitate their development.

Macroeconomics (PubPol 556) - Winter 2023

This course teaches students the basic tools of macroeconomics and how to apply them to real world economic policy. The goals of the course are for students to (a) understand how to evaluate macroeconomic conditions such as unemployment, inflation, and growth (b) understand how monetary policy and fiscal policy can be used to influence macroeconomic conditions (c) understand media accounts of macroeconomic events. The course will cover a broad range of topics in macroeconomic policy. Examples of issues discussed include the role of fiscal and monetary policies in stabilizing the economy, the relationship between inflation and unemployment, the role of government policy in promoting long-term economic growth, monetary and fiscal policies in an open economy, deficits and debt, and European Monetary Union. The course is structured around the tools (models) of macroeconomics, using primarily graphs, and occasionally equations. Examples are taken from current and recent real-world macroeconomics events and conditions. (Hausman, J., Leahy)

Values, Ethics & Public Policy (PubPol 580) - Winter 2023

This course seeks to make students sensitive to and articulate about the ways in which moral and political values come into play in the American policy process, particularly as they affect non-elected public officials who work in a world shaped by politics. Topics covered include the tensions between ethics and politics, an introduction to various moral theories that figure in contemporary policy debates, a consideration of the principal values that animate American politics, and issues and dilemmas in professional ethics. The course addresses issues that affect international as well as U.S. policy and politics.

Negotiation Basics for Public Policy (PubPol 583) - Winter 2023

Negotiation Basics for Public Policy will provide students with an understanding of the theory and processes of negotiation as practiced in a variety of settings. It is designed for relevance to the broad spectrum of bargaining problems faced by the manager and professional. Students will have the opportunity to develop negotiation skills experientially and to understand negotiation in useful analytical frameworks. Emphasizes simulations, exercises, role playing, and cases.

Performance Management (PubPol 586) - Winter 2023

The main objectives of this course are to enhance your ability to think analytically and write clearly about managerial challenges. This includes improving your ability to recognize and define these challenges, to evaluate common approaches to addressing these challenges, and propose your own solutions to these challenges.

Public Management (PubPol 587) - Winter 2023

All three sections of 587 emphasize common themes such as performance management, strategic planning, and inter-institutional network development. But they will offer distinct differences in terms of applied content, reflecting the growing diversity of the FS student body. Indeed the original course was developed at a point when almost all FS students headed to public service in the US federal government. That obviously has changed and so this revised set of offerings is intended to respond to that diversity and give students greater ability to tailor core course selection to their own interests and needs.

Integrated Policy Exercise (IPE) (PubPol 638) - Winter 2023

The 2022 IPE will focus on immigration reform in the United States. Students will role-play a selected group of U.S. senators, business and labor organizations, and advocacy groups of all sorts as they try to create, or block, legislation to reform America’s legal immigration system. The simulation will require students to think about both policy (which proposals would best address the nation’s problems) and politics (which proposals are able to gain the requisite political support).

Quantitative Methods of Program Evaluation (PubPol 639) - Winter 2023

This introduction to program evaluation and multiple regression analysis trains students to critically consume empirical studies and conduct their own empirical research. We use education data and examples to teach course concepts, including class size, education finance and the returns to education in the labor market.

Introduction to Policy Writing (PubPol 521) - Winter 2023

This course teaches the norms of policy writing to 1st year policy students. Through small workshops, students will analyze approaches to different types of policy writing. They will produce a good deal of writing - and receive detailed criticism - in a relatively short time to facilitate their development.

Topics in Public Policy (PUBPOL 475):

From the “Great Depression” to the “Great Recession”
Since the 2008 financial crisis, developed countries have suffered high unemployment and slow growth. What are options for policymakers in this environment? This course will analyze central issues in macroeconomic policymaking through the lens of history. Students will apply analytical tools to understand the consequences of monetary, fiscal and financial market policy in the Great Depression, in Japan after 1990, and in the current Great Recession. (Hausman, J.)

Policy Seminars (PUBPOL 495):

Global Financial Markets, Crises, and Policies 
Global financial markets provide both opportunities and risks for macroeconomic policymakers. In this course we will explore the role of financial markets in economic development, the causes and consequences of financial crises, whether and how policies and institutions can be used to stabilize markets and help countries recover from crises, and what lessons we can learn from recent experiences which might help prevent future crises. There will be heavy emphasis on understanding and using data to study country experiences -- with examples drawn from developing and industrial economies. (Dominguez)

Behavioral Economics
People are complex, and psychologists have long expanded our understanding of that complexity. Economics has traditionally focused on the complicated nature of economic institutions, typically assuming people think and behave in more simplistic ways than we do in the real world. Over the last few decades, “behavioral economists” have drawn on the insights of psychology to help explain when predictions from economic theory do not hold true in real world contexts. After surveying behavioral science concepts, this course will apply this nuanced interdisciplinary approach to policies related to health, work, financial inclusion and stability, development, communal goods, and social insurance. Example topics include: Why do some people donate more than their fair share of time or money to a social cause, while others “free ride”? Why do insured people sometimes respond to deductibles in ways that are not in their own best interest? Why might some smokers appreciate higher cigarette taxes they can’t afford? What motivates people in any job? Why is it so hard to save for a rainy day even if we have a few dollars to spare that month? For each topic, we will review related economic concepts—big picture—before exploring in depth research from psychology including lab experiments and neuroscience. No prior economics coursework is expected (beyond Econ 101 microeconomics prerequisite for the Ford BA). Students will practice writing through a series of extensive paper assignments with some choice of topic.
 

Politics of Debt
This course will explore the politics of debt. Robust credit markets can fuel economic growth, but the resulting debt can be dangerous, and politically controversial. In this course we will ask and answer questions relating to the creation and maintenance of well-functioning debt markets. These questions include: What makes a government creditworthy? Why do corporate and consumer debt markets flourish in some countries, but not others? Why do debt crises happen, and what are the political implications of them? What are the consequences of growing consumer debt loads (including payday loans, and student loans), and what ethical questions does that growth pose? The readings for this course will draw primarily from works in political science, economics and history. The course will culminate in an original research paper on the debt-related topic of the student’s choosing.

International Trade Policy (PUBPOL 541)

This course examines the policy issues of international trade, including trade in both goods and services and also international flows of direct investment and migration. It builds on microeconomic theory, first to examine the basic theories of international trade and factor movements, including the classic Ricardian theory of competitive advantages, the neoclassical factor proportions theory, and the New Trade Theories that incorporate increasing returns to scale, imperfect competition, and product differentiation. These models are then used to examine the major policies and institutions that constrain and influence international trade and factor movements. Special attention is given to the WTO, to various elements of U.S. trade policy, and to the growing number of regional arrangements such as the European Union and NAFTA. Emprical evidence and applications of the theories are addressed, including their applicability for less developed and emerging economies. Although the major emphasis of the course is on the microeconomics of international transactions, a portion of the course will also put this into macroeconomic context. Topics here include the role and determination of exchange rates in the world economy, as well as how international movements of financial capital interact with trade and exchange rates in determining the balance of trade and the vulnerability of a country's macroeconomic variables to events abroad. This course presumes a prior knowledge of intermediate economics. (Deardorff)

International Financial Policy (PUBPOL 542)

This course provides an overview of international financial economics, developing analytic tools and concepts that can be used to analyze world economic policy debates. It covers the international implications of macroeconomic policies, international monetary arrangements and institutions, and stabilization programs for developing countries. The course will be structured around the tools (models) of open economy macroeconomics, using primarily graphs, and occasionally equations. However, motivation for these tools and examples of their use will always be taken from current and recent real-world macroeconomics events and conditions. This course presumes prior knowledge of intermediate microeconomics and graduate standing. (Dominguez)

Economic and Social Policies in a Selected Emerging Market Economy (PUBPOL 674)

This seven-week, 1.5-credit course focuses on the evolution of a given country's economic, political and social institutions and policies, beginning with the historical origins of the country. Students examine why the country embarked on the development strategies in different periods and what the consequences of those strategies were. The course will progress to the current period and examine the pressing policy issues facing the country today and how the leaders are dealing with those problems given the internal and external constraints. The country to be studied will be selected in the early part of the previous fall term by the group of students who applied and were selected by IPSA and the faculty advisor for the study tour. During the seven-weeks, students who will be participating in the second part of the course (the country tour) will choose topics to study and to be further discussed with policy makers in the country. They will also organize meetings with the relevant individuals in the country. This course is limited to approximately 20 students who are selected by IPSA and a faculty advisor during the previous fall semester. Those students who have completed PUBPOL674-001 and participated in organizing the trip (including fund raising), will travel to the chosen country during the U-M Spring Break and meet with individuals from a variety of institutions, based on their interests developed in the seven-week course. Upon their return, they will be expected to write a report and to produce web-site material and other deliverables for the Ford School in order to receive credit. (Parthasarathy)

Principles of Finance & Global Financial Markets (PUBPOL 741)

Finance is fundamental to many public policy questions. When the financial sector works well, it transfers resources from savers to borrowers, allowing individuals to save and businesses to invest. But when the financial sector works badly, resources are misallocated and financial crises threaten the entire economy. This course provides an overview of financial markets and institutions, and then considers the causes, consequences, and possibly policy responses to financial crises. (Hausman)

Economics of the Public Sector (PUBPOL 744)

This is a course on how economists think about government revenue and government expenditures — how governments raise and spend public money. Public Finance is a subfield of microeconomics. In the course, we will begin by delving more deeply into rationales for government intervention in the market (introduced in Micro A/B), including public goods, externalities, and equity. We will then use the tools of economics to analyze a number of important public policy issues, such as public health insurance, social security, and anti-poverty programs. The second part of the course will cover tax policy, and we will explore how the burden of taxation is distributed, how taxes affect the economic behavior of individuals and firms, and options to reform the tax system. The course will cover the theory of public finance in depth, but the ultimate aim will always be to apply the concepts to real world policies and programs. Toward that end, we will spend substantial time both inside and outside of the classroom applying the concepts and reviewing existing empirical evidence. The course focuses on the US, but we will discuss comparisons with other countries from time to time. (Stevenson)

Consumer Behavior (MKT 313) - Winter 2023

Formulation of appropriate and effective marketing strategies must begin with a clean and accurate understanding of consumers. This includes an understanding of consumer needs and wants, the process by which they are satisfied, and the environment in which the behavior occurs. The objectives of the course are as follows: (1) to introduce the student to concepts developed in psychology, economics, and sociology and their relationship to consumer behavior, (2) to involve the student directly in the study and analysis of consumer behavior, and (3) to develop in students the ability to translate what can be learned into marketing action implications.

Financial Accounting (ACC 533) - Winter 2023

This course introduces the basic concepts and methods used in corporate financial statements for the information of investors and other interested external parties. Readings, problems and cases are used. Major topics included are: The Basic Accrual Model, Analysis of Transactions, Balance Sheet, Income Statement and Cash Flow Statement Construction and Analysis. The course also emphasizes analysis of cases and actual financial reports and concerns the applications of the basic concepts and methods of financial accounting to issues such as long-term assets, inventory, sales, receivables, debt securities, corporate ownership, international operations, and analysis of financial statements.

Corporate Financial Reporting (ACC 564) - Winter 2023

This course is an intermediate financial accounting class that extends your understanding of accounting by covering more in depth issues first considered in ACC501, and addressing completely new topics. The goal of this class is to enable you to have a deep understanding of the advantages and the limitations of using the accounting model to track firm performance. The class is user-oriented as opposed to preparer-oriented, and is useful for anyone who will be using financial statement information as an input into economic decision-making.

Financial Statement Analysis 1 (ACC 711) - Winter 2023

This course provides a systematic framework for using financial statements in business analyses. It considers a comprehensive set of tools to analyze the information contained in financial statements and demonstrates how to use the information to evaluate financial performance. It addresses questions such as: (1) how do operating and financial decisions contribute to a firm's return, (2) why does firm performance differ between competitors, (3) has the firm distorted the accounting numbers and how will this influence reported performance, and (4) how does the financial performance today predict future events, such as credit default.

Artificial Intelligence and Machine Learning in Investment Strategies (FIN 427) - Winter 2023

 Artificial Intelligence and Machine Learning in Investment Strategies --- This course covers quantitative approaches to using firm information to develop profitable trading strategies. Students will use tools such as FactSet and coding in Python or other languages to investigate, validate, and verify out-of-sample performance of investment strategies. Strategies implemented will include simple naive implementations, as well as data-driven machine learning approaches involving regression, random forests, and neural networks. The strategies will be invested using real funds into the Maize and Blue Machine Learning Fund.

Social Entrepreneurship, Community Leadership, and Social Impact (UM Dearborn) (ENT 403) - Winter 2023

The purpose of this course is to expose students to social entrepreneurship concepts and theories to help them learn how community leadership can facilitate the social entrepreneurship process for positive community change (i.e. social impact). This experiential learning course is designed for students who wish to integrate entrepreneurial problem-solving skills with strategic social innovation concepts to affect positive social change in underserved communities. This course appeals to students who have a strong desire to become, advise, or support social entrepreneurs, or work in a start-up, early stage, or entrepreneurial-minded company or community organization that creates positive social impact using a for-profit business model. Note that this is an academic service-learning (ASL) course, where students will interact with entrepreneurs and organizations in the community to develop a comprehensive business plan to address a pressing social problem. (YR)

Legal Issues in Finance & Banking (BL 507) - Winter 2023

Leaders in finance and banking operate in an environment fraught with legal risk. Financial companies are highly regulated, subject to strict supervision, and the target of frequent litigation. Moreover, the recent financial crisis and passage of the Dodd-Frank Act have increased scrutiny of the financial sector and created new types of legal risks. The goal of this course is to develop leaders of financial companies who are prepared to fulfill the legal aspects of their business responsibilities and who understand how their organizations can achieve competitive advantage by reducing legal risk and using the law responsibly to create economic value. The course will include coverage on legal issues related to securities law, systemically important firms, hedge funds and derivatives, and private equity and venture capital. This course is recommended for students pursuing careers in investment banking, financial services, corporate finance, private equity, venture capital, accounting, or consulting. (Kress)

Capstone MAP (BA 453) - Winter 2023

This course provides students with an opportunity to develop personal capabilities, professional competencies, collaboration skills, and business acumen by integrating and applying knowledge to real-work organizational opportunities and problems.

Capstone MAP gives students the chance to work as a team on a hands-on project for a real-world company using a wide range of business skills and critical thinking. Projects are sponsored by established companies, startups, and nonprofit organizations. Guided by top Ross faculty members, students conduct original research, develop workable recommendations, and present their results to company executives. The challenge is difficult, the work is real, and the experience is irreplaceable.   

This course will help students refine the skills necessary to succeed in the workplace by empowering student teams to work independently, design their own schedules, and deliver results for real companies.  BA 453 will teach students to effectively design and organize projects, extract valuable information from multiple resources, and ultimately deliver productive and impactful solutions.  This course is a must-take for any student looking to nail future work projects and add value in their first professional role.

+Impact Studio: Translating Research into Practice (BA 670) - Winter 2023

The +Impact Studio graduate course BA670 prepares students to be architects of an equitable, just, and sustainable future. In this award-winning interdisciplinary course, you’ll gain a mindset, a process, and a set of tools and experiences for designing new and equitable models for business. In Winter '23, the +Impact Studio course will focus on a just energy transition. Innovations in financing and technology have dramatically changed the costs of launching enterprises such as solar microgrids, and the recent Inflation Reduction Act greatly increases potential funding for renewable energy. We will be engaging with neighborhood partners in Detroit to design feasible business models for green energy that support communities.

FinTech: Blockchain, Cryptocurrencies, and Other Technology Innovations (TO 428) - Winter 2023

FinTech: Blockchain, Cryptocurrencies, and Other Technology Innovations In and Out of Finance --- This course introduces students to the most cutting edge FinTech topics including mobile payments, blockchain, cryptocurrencies and smart contract, P2P lending and crowdfunding, and robo-advising. Topics on big data and technology commercialization will be interwoven throughout the course.

Artificial Intelligence for Business (TO 433) - Winter 2023

We are living in a fast changing world. The amount of information we generate, receive and process is increasing at an exponential rate. This information explosion is empowering a wave of smart, automated functionalities broadly called Artificial Intelligence ("Al"). Al allows computers and machines to automate the business logic-to work and react like humans. Al comes with a great promise for individuals, organizations and societies but at the same time there are considerable risks, significant societal implications and ethical dilemmas. This course aims to provide students with a conceptual introduction of Al, a broad understanding of Al's basic techniques, how Al is applied to problems, future applications of Al, and an awareness of the challenges, risks and ethical considerations of use of Al in business. The course is does not require a technical background. Students will be able to connect the conceptual nature of this course with the more technical coverage of Al related material in other TO courses -but they are not expected to be familiar with the technical details of Al as pre-requisites.

Big Data Analytics (TO 628) - Winter 2023

With the ongoing explosion in availability of large and complex business datasets ("Big Data"), Machine Learning ("ML") algorithms are increasingly being used to automate the analytics process and better manage the volume, velocity and variety of Big Data. This course teaches how to apply the growing body of ML algorithms to various Big Data sources in a business context. By the end of this course students will have a better understanding of processes, methodologies and tools used to transform the large amount of business data available into useful information and support business decision making by applying ML algorithms. The focus of the course is less on the technical aspects of ML algorithms and more on the application of ML algorithms to Big Data available in different domain. The course will use R as the primary data analysis platform and Microsoft Azure as cloud platform for execution and deployment of ML projects. Prior experience with R or Microsoft Azure is not required. Students are assumed to be familiar with basic statistics.

Business Law and Ethics (BL 300 & WMBA 519)

Business Law and Ethics --- This is a core course in the Junior Integrative Semester. If focuses on the role of law in positive leadership development and organizational success. The course has two main goals: (1) to develop legally savvy leaders who are able to achieve career success by understanding the legal and ethical aspects of their business responsibilities and (2) to show how organizations can achieve competitive advantage by reducing legal risk and using the law to create economic value, while also encouraging responsible conduct. The course examines legal and ethical issues that every businessperson should understand to make sound business decisions in a global environment. It provides an overview of the legal system, the nature and uses of law, ethical decision-making frameworks, business organizations and agency, contract law, torts and the law of product liability, criminal law, the regulatory environment, intellectual property, employment law, securities law and mergers and acquisitions law. (Rogala and Kress)

Legal Environment of Business (BL 305)

Legal Environment of Business ---It is essential for future business leaders and entrepreneurs to have an understanding of the role of the law and legal risk in shaping business decisions, achieving competitive advantage, and avoiding legal pitfalls. This course provides an introduction to the Anglo-American legal system and the development of substantive and procedural law with emphasis on the idea that business relationships are based upon contractual agreements. The course covers numerous pertinent business laws and regulations that shape business activities, including common law contracts, the Uniform Commercial Code (sales and leases), tort law (including negligence and products liability), international business transactions, environmental law, intellectual property law, jurisdiction, constitutional law, accountants legal liability, criminal law, and the relationship between law and ethics. Legal cases are studied to trace the development of the common law and to illustrate actual business problems that business professionals will encounter throughout their careers. (Muir)

Big Data in Finance (FIN 342)

Big Data in Finance --- This course aims to facilitate the acquisition of skills that are useful in quantitative asset management. The course starts from basic portfolio theory and then reviews basic quantitative investment strategies (such as value, growth, momentum, and carry strategies). Students then develop, back-test, and evaluate trading strategies in a portfolio context, both in a domestic and an international context, as well as in a multi-asset framework covering equities, bonds, and commodities. Finally, we cover the real-time use of non-standard data sources. (Schmalz)

Business and the Public Policy Process (BL 488)

Business and the Public Policy Process --- Registration for BL 488 is by application only. For more information about this course and the application process, please visit the BBA Washington Campus website. This course is designed to provide students with the tools needed to incorporate the public policy dimension into managerial decision making and strategic planning. The course focuses on Congress and the legislative process, the structure of the federal courts, the impact of judicial decision making on business, the federal regulatory process, the organization of the White House, the role of lobbyists and interest groups, and the role of the media in the public policy process. The course is taught in Washington, DC.  (Bishara and Siedel)

Applied Microeconomics (BE 501)

Applied Microeconomics --- The development of analytical tools and their application to important economic issues. Refines central concepts concerning competition, economic efficiency and the function of property rights, and discusses the effects of the regulation and the rationale for government intervention in the economy. Other topics include the analysis of capital, uncertainty and monopoly. (Adhvaryu)

Financial Management (FIN 503)

This is the first course in finance in our MBA sequence. The goal is to introduce students to the key concepts in analyzing financial decisions, and to provide applications to the real-world. The emphasis in the course is on problem-solving. The class is largely lecture-oriented, with several problem sets, and individual assignment and final exam. Topics include the time value of money, investment decision criteria, cash flows of projects and firms, portfolio theory, the Capital Asset Pricing Model, market efficiency, and capital structure. (Rajan)

Law of Marketing (BL 513)

Law of Marketing --- This course is an overview of the law relating to marketing activities. The course takes the student through the legal issues raised by the marketing function, from the initial issues related to product development, through sale of the product or service to the public, to legal issues relating to distribution and promotion of the product or service. Topics to be covered include the protection of intellectual property; the law relating to the sale of goods; liability for defective goods (warranty and products liability law); antitrust law; consumer protection; the regulation of unfair or deceptive practices; and commercial speech issues. The course is designed to have a managerial focus and to provide the student with the necessary tools to make more informed decisions when confronted with legal questions regarding the marketing function. The emphasis is on the prevention of legal liability and disputes and the use of the law to create orderly, defensible business decision-making. (Rogala)

International Finance Sequence

• Course One (FIN 612)
  We focus on the major characteristics, institutions, and players of the exchange rate markets. In particular, we consider the interaction between cross-border trade, capital flows, interest rates, inflation, monetary and fiscal policies, economic growth, exchange rate regimes, Central Banks' interventions, and currency crises, and their impact on financial investment and corporate decision-making. The course is tailored to students seeking careers in international banking and portfolio management or in finance and strategy for domestic and multinational corporations.  (Pasquariello)
   

• Course Two (FIN 614)
  We focus on the major characteristics, institutions, and players of the international stock and bond markets. In particular, we examine the opportunities presented in those markets by such liquid assets as currencies, equities, bonds, swaps, and other derivatives for achieving risk management, asset allocation, capital budgeting, and financing objectives. We also attempt to explain and interpret the recent wave of international financial crises affecting the global capital markets. The course is tailored to students seeking careers in international banking and portfolio management or in finance and strategy for domestic and multinational corporations. (Pasquariello)

Corporate Financial Policy (FIN 621)

Corporate Financial Policy --- This is an advanced corporate finance course with an emphasis on debt and equity management, security issuance, and distribution policy. Topics include descriptions of types of debt and equity, tradeoffs in the choice of an optimal capital structure; the role of capital structure in competitive strategy; the design of capital structure and securities to control information problems and limit conflicts of interest between different classes of security holders; procedures and costs of issuing securities including initial public offerings, and the determinants of optimal payout policy. The course is intended for those with career objectives in financial management, the corporate finance aspects of investment banking, or general management. (Purnaanandam)

Corporate Governance (WMBA 631)

Corporate Governance --- Every business activity is affected by the issues of corporate governance and social responsibility. This course will examine how modern corporations are governed and to whom they should be responsible. It will discuss the role of the board of directors and the reaggregation of shareholder power due to concentrated institutional holdings. The course will discuss the effects of legislation on corporate governance, including the adoption of laws that permit, and in one state require, the board of directors to take into account the impact an action will have not only on the shareholders but also on the other corporate stakeholders like employees, customers, suppliers, and communities where the corporation does business. Consideration is also given to international comparisons of corporate governance structures and legal issues arising in contests for corporate control. The material in this course is taken directly from actual corporate conflicts. The struggles over control of the modern corporation evolve and present themselves in a myriad of forms. The issues underlying these struggles are still being resolved. This course seeks to alert future business actors to the powerful impact these issues will have on their ability to manage effectively. Further, students will be encouraged to develop and refine their views on how these issues should be resolved. (Schipani)

Commercialization of Biomedicine (ES 720)

Commercialization of Biomedicine --- This interdisciplinary course introduces graduate students to the key issues faced by companies attempting to bring science and technology innovations in biomedical therapeutics, devices, and diagnostics to market. Because the details of doing this change, the course will present not just current practices but also the rationales behind those practices and more general, analytic frameworks that students will be able to use when specific industry conditions change. Issues include understanding and reaching biomedical markets, regulation, financing, risk, organizational configurations, and alliances. Students will understand the various ways commercialization is done and the reasons why it is done those ways.
(Gordon)

Topics in IB-BE I (BE 887)

Topics in IB-BE I --- This course covers topics of relevance to research in the fields of international business and business economics. Over a two-year cycle, these courses provide coverage of topics such as Foreign Direct Investment, International Cartels, Productivity and Growth, International Corporate Finance, as well as Entrepreneurship, Labor Markets, and Regulation in the Global Economy. (Lyon and Lafontaine)

Topics in IB-BE II (BE 888)

Topics in IB-BE II --- This course covers topics of relevance in the fields of international business and business economics. Over a two-year cycle, these courses provide coverage of topics such as Foreign Direct Investment, International Cartels, Productivity and Growth, International Corporate Finance, as well as Entrepreneurship, Labor Markets, and Regulation in the Global Economy. (Sivadasan and Handley)

Topics in IB-BE III (BE 889)

Topics in IB-BE III --- This course covers topics of relevance in the fields of international business and business economics. Over a two-year cycle, these courses provide coverage of topics such as Foreign Direct Investment, International Cartels, Productivity and Growth, International Corporate Finance, as well as Entrepreneurship, Labor Markets, and Regulation in the Global Economy. (Lyon and Miller)

Tax Policy Seminar (LAW 424) - Winter 2023

This seminar will examine many of the most important tax questions confronting policymakers. The likely topics will include, among others, whether income is the right tax base; the future of the corporate income tax and taxes on capital more broadly; whether tax should be the exclusive legal tool for redistributing income; and how the tax system should treat marriage. Seminar readings will focus on legal and empirical tax scholarship, including behavioral economics. Students will write a research paper on a topic of their choice (with the instructor's approval).

Tax Planning for Corporate Transactions (LAW 437) - Winter 2023

This practice simulation course will be taught by J. Phillip Adams., a retired partner of the New York office of Skadden, Arps, Slate, Meagher & Flom, LLP. The professor will submit to the seminar cutting-edge problems which he has faced in practice. The students will resolve those problems by structuring transactions to accomplish the client's business goals within the framework of non-tax legal requirements, without incurring unnecessary tax liabilities and in a manner that otherwise optimizes the client's tax posture. Typically, the students will be assigned to work in teams. With each problem, the students submit their solutions in writing, and one team will present its solution to the class orally. The professor will discuss and evaluate the teams' solutions in light of the one that was employed in practice. Prior to the students preparing and submitting their solutions, there will be lectures and discussion of the tax issues involved in each problem.

Legislation & Regulation (LAW 569) - Winter 2023

In the modern regulatory state, the rules that most profoundly shape private conduct come not from the common law but, instead, from legislatures and agencies. This class will explore the lawmaking function of these institutions and the virtues and vices of administrative governance. Among other things, the class will cover: the nature of the legislative process; statutory interpretation; the justifications for regulatory intervention; regulatory tools and strategies; the allocation of authority between legislatures and agencies; the varied forms of agency decision-making; and judicial review of agency decisions. In offering a survey of public law, the course will introduce students to the essentials of both statutory interpretation and administrative law.

Securities Regulation (LAW 743) - Winter 2023

This course covers the regulation of securities offerings and trading under the Securities Act of 1933 and the Securities Exchange Act of 1934. It examines offerings and the registration process under the Securities Act, along with reporting requirements under the Exchange Act. The course will also cover fraud, insider trading and civil liabilities under both Acts.

Accounting for Lawyers (LAW 751) - Winter 2023

This course introduces the basic concepts and methods used in the preparation of the four corporate financial statements (the balance sheet, income statement, statement of cash flows, and statement of stockholders' equity). In this process, the course will also develop the accounting treatment of specific items such as long-term assets, inventory, sales, receivables, and debt securities. The course will use actual corporate financial statements of Fortune 500 companies and will provide students the tools necessary to understand such statements as well as some of the basic footnote disclosures associated with such statements.

Financial Markets: Regulation, Policy & Transactions (LAW 776) - Winter 2023

This course explores financial regulation in the United States in the aftermath of the most systemic financial crisis in the last 70 years. The 2007-2009 financial crisis was followed by a major shift in regulatory design with the enactment of the Dodd Frank Act. We analyze and compare the current market and regulatory architecture of the U.S. financial sector, from banks, insurance companies and broker-dealers, to asset managers and complex financial conglomerates. We explore a range of financial activities, from consumer finance and investment to payment systems, securitization, short-term wholesale funding, money markets, derivatives, and the fintech sector. We examine a range of regulatory techniques, including supervision, enforcement, and rulemaking, as well as crisis-fighting tools such as resolution and the lender of last resort. We also discuss various initiatives implemented by the Trump Administration to reverse the course of regulation for parts of the U.S. financial system. We then discuss the steps that may be taken by the Biden Administration to reverse or modify certain of the actions taken by the Trump Administration in the financial sector. Finally, we will discuss the effects of the COVID pandemic on the U.S. financial system and scan the horizon for signs of what the future architecture of the U.S. financial system might look like.

Cross-Border Mergers & Acquisitions (LAW 809) - Winter 2023

This seminar will explore the legal and business aspects of public and private cross-border M&A transactions and joint ventures. We will focus, first, on the strategic drivers of such transactions and, then, on the transactional elements designed to achieve the commercial objectives of the parties and mitigate economic and legal risk. We will pay particular attention to the ways in which the business and regulatory environment for cross-border M&A differs from that of domestic transactions. Course materials will include legal cases, articles, business school case studies, and acquisition agreements. Guest speakers also will be invited to class from time to time.

The Future of Money (LAW 830) - Winter 2023

Since Bitcoin arrived on the scene in 2009, innovators have created thousands of cryptocurrencies -- digital representations of tokens that reside on blockchains. Many view them as the future of money. But what is "money"? In this seminar, we will first explore the economic theory of money and the legal infrastructure that is required for its stability and proliferation. We will also examine the financial history of money to understand what happens when money is poorly designed: financial crises. These building blocks will allow us to assess digital assets like cryptocurrencies, stablecoins, and central bank digital currencies. We will focus on their implications for financial stability, monetary sovereignty, and national security, analyze proposed responses by Congress and financial regulatory agencies, and survey the evolving international landscape.

Community Enterprise Clinic (LAW 955) - Winter 2023

The CEC is one of the law school's transactional legal clinics and prepares students for corporate and transactional practice in all sectors, including the private and nonprofit sectors. The CEC's mission is to promote economic, racial, and social justice and community and economic development in Detroit and other disinvested urban areas of the region. The clinic supports vibrant, diverse, and sustainable communities by providing transactional legal assistance to neighborhood-based small businesses, nonprofit organizations, community-based organizations, and social enterprises. Student attorneys interact with clients, normally represent multiple clients, and assume primary responsibility for all matters affecting their clients under close faculty supervision.

Property (LAW 560)

This course has two basic purposes. The first is a basic survey of the law of property which examines the forms and methods by which property interests are held, used, and transferred. More specifically, it investigates gifts of personal property, adverse possession, conveyancing of real property, estates and future interests, concurrent ownership, nuisance, easements, covenants, zoning, takings, and eminent domain. The course's second purpose grows out of the fact that it is the foundational course which most centrally depends on the common law. It is therefore an excellent vehicle for acquiring skills in handling the common law that are essential for success in law school and in the practice of law. The course, then, is intended to help students become (1) perceptive readers of legal documents (including statutes, regulations, cases, deeds, contracts, and so on); (2) adept at analyzing the structure of legal arguments; and (3) acute in criticizing legal arguments. Note: this course is a foundational course which is recommended -- and sometimes required -- before taking some upper-level offerings in intellectual property, real estate, or land use law.

International Investment Law (LAW 602)

Foreign investment has long been recognized as one of the pillars of the global economy, and is now a focus on significant public attention as many states -- especially in Latin America, Eastern Europe, and the former Soviet Union -- view it as the key to rescuing their economies. This course will examine the international community's regulation of foreign investment, focussing upon the norms that have emerged over the past seventy years to govern this process. The class will primarily address investment abroad, in both developed and developing nations, although attention will also be given to restrictions on foreign investment in the United States. It will consider the protections required by international investors, e.g., those concerning establishment of new enterprises, transfers of profits, fair treatment, and expropriation. We will also discuss the increased focus on responsibilities of investors in the areas of human rights and environmental and labor standards. Resolution of investment disputes will also be covered. The course is designed both to shed light on the process of foreign investment as well as to demonstrate the relevance of international law to transnational business transactions. Completion of Transnational Law or an equivalent course in international law prior to taking this course is highly recommended but not required.

Corporate Lawyer: Law & Ethics (LAW 657)

The Corporate Lawyer is intended to be the first course for students interested in careers as corporate lawyers or representing public corporations. We will focus on ethical issues relating to the representation of a corporation, including conflicts and their waiver, confidentiality, and client identity. We will also address the ethical obligations that corporate lawyers owe to the courts and regulators, particularly the topic of whistleblowing. In addition, we will study the role of lawyers in advising corporate boards and officers with regard to their fiduciary obligations, and corporate governance issues, including corporate powers, shareholder voting rights, and liability issues. This course also introduces students to the regulation of public corporations under the securities laws, including the obligations imposed by the securities laws on corporate lawyers. This course has replaced Law 723 "The Public Corporation" in the curriculum. This course (or Enterprise Organization) is a prerequisite for many advanced corporate law classes. No prior background in business is assumed. Students who have previously taken The Public Corporation may not take this course, and students may not take both Enterprise Organization and The Corporate Lawyer for credit. (Pritchard, Khanna)

Capital Markets Regulation (LAW 659)

This course concerns the law, economics, and institutions of financial trading markets, such as markets for stocks and bonds, which provide "capital" or financing for businesses in the economy. These markets serve vital social functions, including facilitating trade and incorporating information into prices, which serve as guides for the real economy. The course will begin with the major institutions of financial trading markets. It will then address the economic theory that explains their dynamics. These segments lay the groundwork for a more informed discussion of the substantive law that governs capital markets. In particular, we will consider (1) the regulation of market structure; (2) contemporary controversies regarding the modern stock market, such as high-frequency trading and dark pools; and (3) the regulation of misconduct by traders, including manipulation and insider trading. By the end of the course, students should be equipped to analyze with sophistication important law and public policy issues, such as high frequency trading, dark pools, and market structure. The class is a blend of statutory and case law, economics, and public policy. It should be of value to any student interested in a career involving the capital markets, securities, or with an interest in the functioning and social value of markets. This course focuses on trading markets, in contrast to Securities Regulation, which focuses on the regulation of the issuers of stocks and bonds, and their agents, in connection with the offering of securities. (Rauterberg)

International Environment Law and Policy (LAW 682)

This introductory environmental law course will focus on the legal regulation of pollution and waste management. The course will cover a number of federal environmental statutes, including the Clean Water Act, the Clean Air Act, the Resource Conservation and Recovery Act, and the Superfund law. In studying these statutes, we will consider a number of more general issues relating to environmental regulation, including the proper goals of environmental regulation; the roles of science and risk assessment; the valuation of environmental injuries and environmental benefits; and the choice of regulatory approach, ranging from command-and-control regulation to information disclosure requirements. (Mendelson)

Financial Regulation (LAW 709)

This course explores financial regulation in the aftermath of the most systemic financial crisis in the last 70 years. The 2007-2009 financial crisis was followed by a major shift in regulatory design with the enactment of the Dodd-Frank Act. We analyze and compare the current market and regulatory architecture of the U.S. financial sector, from banks, insurance companies, and broker-dealers, to asset managers and complex financial conglomerates. We explore a range of financial activities, from consumer finance and investment to payment systems, securitization, short-term wholesale funding, money markets, and derivatives. We examine a range of regulatory techniques, including supervision, enforcement, and rule-writing, as well as crisis-fighting tools such as resolution and the lender of last resort. We also note the cross-border implications of U.S. rules, and compare, where appropriate, the U.S. financial regulatory framework and policy choices to those in other places around the globe, especially the European Union. We also discuss the proposals from the New Administration to repeal important provisions in the Dodd-Frank Act and otherwise reverse the regulatory course for important parts of the U.S. financial system.

Securities Regulation (LAW 723)

This course covers the regulation of securities offerings and trading under the Securities Act of 1933 and the Securities Exchange Act of 1934. It examines offerings and the registration process under the Securities Act, along with reporting requirements under the Exchange Act. The course will also cover fraud, insider trading and civil liabilities under both Acts. (Pritchard, Khanna)

Seminar on Law & Economic Development in India (LAW 835)

This seminar examines the relationship between law and economic development by focusing on one of the largest and fastest growing economies: India. The seminar begins with a brief and general discussion of the role of the law in economic development and canvasses some influential and important theories. We then provide a thumbnail sketch of India and the Indian legal system. We explore the structure of the Indian Constitution - the world's largest written Constitution - and how the Indian judiciary manages to balance two competing and often opposing images: being one of the most active and independent judiciaries while also being slow, overburdened and occasionally corrupt. Following this the seminar examines specific areas of law and legal reforms in the India that have a significant impact on economic development. These include reforms to intellectual property, labor law, corporate law and financial markets laws, property, infrastructure policy, foreign investment, competition policy, and the role of the public sector. The seminar delves into how these reforms influence economic development and what implications they have for the sectors and regions of the Indian economy. From here the seminar briefly examines some of the experiences in other countries to tease out whether the "emerging" world presents interesting insights into the theories on law and economic development. We then conclude with a discussion of how the experiences in India help to enrich our understanding of the role of law in economic development (There are a couple of sessions dealing with debt and equity markets in India). (Khanna)

Seminar on Corporate Criminal Liability/White Collar Crime
(Has not been offered recently)

This seminar examines a series of important issues related to corporate criminal liability and the regulation of corporate wrongdoing in general. Much greater attention has been focused on these areas following the recent spate of corporate scandals, such as Enron and Worldcom. For the first part of the course, materials will be assigned that examine a number of topics related to corporate crime and wrongdoing. These include the justification(s) for corporate -- as opposed to managerial - liability, the rationales for extending liability from the corporation to third parties (gatekeepers), the importance of the organizational sentencing guidelines, and strategies for prosecuting and defending individuals and corporations. We will also discuss recent developments such as the changes to the law following the Enron scandal and the increasing importance of corporate compliance programs. The remainder of the semester will consist of student presentations on topics related to the themes of this seminar. (Khanna)

Electronic Commerce (EECS 547 / SI 652) - Winter 2023

Introduction to the design and analysis of automated commerce systems, from both a technological and social perspective. Infrastructure supporting search for commerce opportunities, negotiating terms of trade and executing transactions. Issues of security, privacy, incentives and strategy.

Urban Entrepreneurship Practicum (ENTR 490.012) - Winter 2023

In Urban Entrepreneurship, you will experience what it takes to make lasting improvements in urban quality-of-life through the creation of innovative for-profit businesses. Governments, foundations, and not-for-profit companies have long been associated with efforts to address urban community needs, but despite those efforts, significant needs persist.  Entrepreneurs have a long history of service to urban communities, and rapidly accelerating technology and innovation in a variety of fields give rise to unprecedented opportunities for solving previously intractable problems, and for scaling the solutions.

Design Studio: Detroit Neighborhood Entrepreneurs Project (ARTDES 444.001) - Winter 2023

As part of an interdisciplinary project assisting neighborhood-based small businesses in Detroit, students work with entrepreneurs to solve problems and address barriers to growth. Students learn skills for working in collaborative teams, interacting with clients, and thinking critically to define design opportunities, propose and implement solutions. Studio work spans experience, service, and visual communication design. There will also be opportunities to connect with Law and Ross students working with the same entrepreneurs.

Topics in Microeconomics (ECON 395) - Winter 2023

The topic this year is origins and uses of economic data. The course emphasizes applications of microeconomic approaches from a variety of fields to the analysis of real-world microeconomic issues.

Applied Macroeconomics (ECON 502) - Winter 2023

A course designed for students in the MAE program. Approximately one third of the course is spent reviewing and elaborating on standard macro theory of the sort covered in an advanced undergraduate course. The remainder of the time is spent on applications of this theory to problems of stabilizing aggregate demand, unemployment and inflation, economic growth, and macroeconomics of open economies. Students will normally do a computer project involving hypothesis testing or model simulation.Prerequisite: Intermediate macroeconomic theory.

International Finance (ECON 642) - Winter 2023

This course develops macroeconomics analysis and issues for an open economy. Topics include: the foreign exchange market and the balance of payments; the income-absorption and monetary-asset market approaches to national income determination and the balance of payments; macro stabilization policies and central bank intervention under fixed and floating exchange rates; Eurocurrency market; monetary integration, and reform of the international monetary system. 

Law and Economics (ECON 485)

This course examines important legal issues using economic analysis. Topics include property rights, torts, contracts, and crime. We will explore how the structure of the law can induce efficient incentives in each of these areas. Furthermore, we will also study the relative benefits and costs of market (cap-and-trade) and nonmarket (command-and-control) schemes of regulating the environment. Finally, this course studies financial regulation in the wake of the U.S. financial crisis. (Cho)

Seminar in Economics - Analysis of Public Policies (ECON 495)

The theme of the course is applying economic theory or empirical analysis for the study of causes and/or consequences of public policies and regulation. This seminar will provide a forum where students can pursue independent thesis research. The goals of the course are to teach critical analysis and interpretation of the analysis of public policies as a means to writing a research paper (thesis). As junior and senior Economics majors you have been well-trained in economic reasoning and hypothesis formulation. In this course you extend these skills in an active learning environment by formulating your own hypotheses about causes and consequences of public policies and regulation and write your own piece of research. (Troiano)