ECON 4353: Urban Economics (with Professor Firat Demir)
- This course provides an introduction to development economics through both historical and contemporary perspectives. We begin by examining the transition from feudalism to capitalism and the emergence of market society in Western Europe, with particular emphasis on England. Students will analyze stages of market economy development, the evolution of free market ideology, and its contrasts with alternative economic systems. We will also address the concept of “the development of underdevelopment.”
- London offers a uniquely rich setting for this exploration. As the birthplace of the Industrial Revolution and a focal point in debates over protectionism versus liberalism, the city provides invaluable context for our discussions. Students will engage with the material not only through readings and lectures but also by visiting museums, historical sites, and cultural institutions that bring economic history to life.
ECON 3880: The Economics of the Art Market (with Professor Georgia Kosmopoulou)
- This course applies economic theory to the functioning of art markets, with particular emphasis on auctions. Key topics include demand analysis, strategic behavior of bidders, and the dynamic effects shaping auction outcomes. We will examine the strategies of collectors, sellers, and dealers, considering how reputation, promotion, and strategic interaction influence outcomes in both physical and digital art markets.
- London—home to some of the world’s most prestigious galleries and auction houses—serves as our classroom. Site visits to museums, galleries, and auction houses will complement lectures and readings, allowing students to connect theoretical insights with real-world practice. By the end of the course, students will understand how economic models help explain market outcomes and strategic behavior in the global art industry.