GCIP: Microeconomic Foundations and Policy Applications
Decode Markets. Drive Strategic Decisions.
Duration
7 Days
15 Hours
Learner Profile
UG & PG Students
Programme Fee
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Certificate
SMU
Certificate of Participation
Microeconomic Foundations and Policy Applications
A foundational introduction to public policy analysis through a microeconomic lens
This course introduces undergraduate students to the basic ideas and frameworks used to understand public policy in a global context. Students will learn how individuals, governments, and institutions make policy-related decisions, and how these decisions affect economic and social outcomes.
Through lectures, guided discussions, simple case studies, and group presentations, students will gain a foundational understanding of public policy analysis and develop the ability to discuss global policy issues in a structured and informed way.
Learning Outcomes
By the end of the course, students will be able to:
- Describe how individuals and firms make basic economic decisions in a globalised environment.
- Explain the role of governments and institutions in shaping markets and policy outcomes.
- Understand key ideas behind international trade and global economic interactions at an introductory level.
Final assessment includes a group presentation on policy topics evaluated by SMU faculty.
SMU Faculty Sessions
15 Academic Hours| Session | Duration | Topics Covered |
|---|---|---|
| 1 | 3 hours | Decision-Making in a Globalised Economy Buyer's optimisation problem: consumption choice under globalisation (imported vs domestic goods). Seller's optimisation problem: production and export decisions in open economies. Example: small firms in Vietnam and Bangladesh in global supply chains. |
| 2 | 3 hours | Market Equilibrium and the Gains from Trade Market equilibrium in open economies. Social planner's optimisation problem under trade. Comparative advantage and the pattern of specialisation. |
| 3 | 3 hours | Theories of Trade and Distributional Effects Heckscher–Ohlin model and factor endowment differences. Trade-induced inequality and factor price equalisation. Efficiency analysis in the presence of international spillovers. |
| 4 | 3 hours | Strategic Interactions in International Trade Game theory workshop: trade wars, tariff retaliation, and coordination failures. Prisoner's dilemma and repeated games in international cooperation. Coase theorem and strategic bargaining between nations. Application: ASEAN cooperation in trade liberalisation. |
| 5 | 3 hours | Final Presentation Student group presentations. Course wrap-up and key takeaways. |
Decision-Making in a Globalised Economy
Buyer's optimisation problem: consumption choice under globalisation (imported vs domestic goods). Seller's optimisation problem: production and export decisions in open economies. Example: small firms in Vietnam and Bangladesh in global supply chains.
Market Equilibrium and the Gains from Trade
Market equilibrium in open economies. Social planner's optimisation problem under trade. Comparative advantage and the pattern of specialisation.
Theories of Trade and Distributional Effects
Heckscher–Ohlin model and factor endowment differences. Trade-induced inequality and factor price equalisation. Efficiency analysis in the presence of international spillovers.
Strategic Interactions in International Trade
Game theory workshop: trade wars, tariff retaliation, and coordination failures. Prisoner's dilemma and repeated games in international cooperation. Coase theorem and strategic bargaining between nations. Application: ASEAN cooperation in trade liberalisation.
Final Presentation
Student group presentations. Course wrap-up and key takeaways.
* Session sequence and contents subject to changes. Programme curriculum may be adjusted based on cohort composition and learning needs.
Learning Intervention
Lectures
Foundational concepts in microeconomics and policy
Guided Discussions
Interactive sessions on global policy issues
Case Studies
Real-world economic scenarios and analysis
Workshop
Game theory and strategic interactions
Group Presentation
Final student presentations on policy topics
Assessment Criteria
Programme Completion Documents
Certificate of Participation
from Singapore Management University
SMU School of Economics
The SMU School of Economics is renowned for its research excellence and innovative teaching in applied economics, policy analysis, and international trade.
Research Excellence
Faculty publish in top-tier journals including American Economic Review and Quarterly Journal of Economics
Global Perspective
Strong focus on Asian economies, international trade, and globalisation with real-world policy applications
Interactive Pedagogy
Seminar-style classes with case discussions, workshops, and group presentations for deeper learning
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