Skip to main content

Curriculum

Our innovative curriculum provides rigorous training in applied economic science while developing strong public policy and data analysis skills. Students will:

  • Build a foundation in economic and social policy theory and its application in core classes.
  • Cultivate expertise in specialized policy areas in elective courses.
  • Gain hands-on experiences through real-world case studies.

Students maximize the flexible thinking, networking, communication, and leadership skills needed to succeed at the highest levels by practicing them in an international setting, studying first in Sha Tin, Hong Kong, then in Evanston, Illinois.

Upon completing the program curriculum, students have the option to further their professional experience through working with a faculty or a professional advisor on a research or research-to-practice project.

Please note, this program has been designated as a STEM program, which qualifies international students for the OPT extension. In order to qualify for the OPT extension, students must complete the optional Spring Quarter. For more information on STEM OPT extensions, please visit the  Office of International Student and Scholar Services website.

Disclaimer: the course schedule is subject to change.

CUHK Campus

Operates on a semester system

  • Pre-Term (August)

    1 CUHK Required Course

    • ECON 5102: Mathematics for Economic Analysis

  • First Semester

    3 CUHK Required Courses, 1 CUHK Elective

    • ECON 5012: Microeconomic Analysis and Applications
    • ECON 5022: Macroeconomic Analysis and Applications
    • ECON 5122: Econometric Analysis and Applications
    • View CUHK Electives

  • Second Semester

    3 Northwestern Required Courses, 1 CUHK Elective

    • SE_POL 400: Causal Methods for Evaluating Policy
    • SE_POL 401: Economics of Public Policy
    • SE_POL 403: Policy Analysis using Advanced Methods
    • View CUHK Electives

Northwestern Campus

Operates on a quarter system

  • Fall Quarter

    1 Required Northwestern Course, 2 Northwestern Electives

    • SE_POL 407: Social Policy in the United States

  • Winter Quarter

    1 Required Northwestern Course, 2 Northwestern Electives

    • SE_POL 409: Economic Policy in Action

  • Spring Quarter

    Optional

    • Students also have an option to elect into a Spring Quarter of research or research-to-practice project.

CUHK Required Courses

ECON 5102: Mathematics for Economic Analysis

This course introduces the essential mathematical methods for economic analysis. To underscore the relevance of mathematics to economics, this course motivates the study of mathematical methods with the analytical needs of economists, and illustrates the study with appropriate economic applications. The following topics will be covered: elementary real analysis, linear models and matrix algebra for static or equilibrium analysis, differential calculus and comparative static analysis for general function models, optimizations with constraints, differential and difference equations and dynamic optimization. Basic calculus and elementary linear algebra are prerequisites.

ECON 5012: Microeconomic Analysis and Applications

This course provides an exposition of advanced microeconomic analysis. Topics include consumer theory, general equilibrium, game theory, information economics, and market design etc. The course is designed to emphasize the applications of microeconomic theory in real-world contexts.

ECON 5022: Macroeconomic Analysis and Applications

This course covers modern developments in major macroeconomic theories related to long term growth and short term business cycle changes. Emphasis is given to the applications of modern macroeconomic methods in producing quantitative forecasts and predictions, as practiced in principal macroeconomic research organizations such as central banks and investment groups. Topics featured in the course include: (1) Dynamic Programming, (2) Computable General Equilibrium Models, (3) Dynamic Stochastic General Equilibrium Models, (4) Macroeconometrics and (5) Bayesian Methods.

ECON 5122: Econometric Analysis and Applications

Econometrics combines economics, mathematics, statistics with its applications involving real data analysis and computer programming. This course is an introductory course on the applications of econometric analysis at the graduate level. Topics include: linear model, large sample theory, parameters estimation methods, hypotheses testing, panel data models, discrete choice and censored data, etc., with applications to many real world economic problems.

Northwestern Required Courses

SE_POL 403: Policy Analysis using Advanced Methods

This course focuses hands on analysis of the real time challenges facing a range of policy areas and industries across federal and state governments and the private sector. Learn the applied analytical methods and statistics used by policy makers and decision leaders to tackle challenges surrounding economic empowerment, energy and climate, finance and regulation, transportation and mobility, and a suite of other issues. Coursework includes qualitative critical analysis and quantitative statistical analysis as well as insights from practitioners in the field.

SE_POL 401: Economics of Public Policy

This course offers an introduction to fundamentals of economic analysis in the evaluation of education, health, and social policy, using economic reasoning to explain the economic rationales for policies as well as the potential consequences, expected and unexpected, of the policies.

SE_POL 400: Causal Methods for Evaluating Policy

The main goal of this course is to help students develop skills to interpret, analyze, conduct and communicate about the causal methods used for evaluating policy. The course will provide students with a framework for understanding causal inference and a toolkit for making causal claims using quantitative data. The main topics will include experimental methods, difference-in-differences, instrumental variables, and regression discontinuity design. These will be explored through numerous applications such as the impact of class-size on academic achievement, the effect of home technology on child outcomes, the labor market returns to college, the effect of financial aid policy on college attendance and completion, and the impact of minimum wages on unemployment.

SE_POL 409: Economic Policy in Action

An economic policy is a course of action that is intended to influence or control the behavior of the economy. Economic policies are typically implemented and administered by the government (federal, state, and local). This course provides a deep discussion of theoretical concepts and empirical tools to understand the design and effects of economic policy from the local to the international level in a variety of areas such as education, healthcare, social security, environmental, and tax policy. Students are organized into teams and cast into different roles to advise stakeholders on policy and program design and evaluation in a simulated professional setting.

SE_POL 407: Social Policy in the United States

Students will learn about the factors that influence policy making in the United States, what happens to policy as it makes its way through the system and gets played out on the ground, and the role of high-quality, mixed methods policy analysis in these processes. Students will engage these objectives by reading and participating in class discussions of theories of policy making and implementation, as well as by engaging in practical policy brief writing exercises. 

Sample Northwestern Elective Courses

The availability of elective courses varies from year to year, subject to the approval of the Division Head of both universities.

SE_POL 406: Topics in Health Policy

This empirical course will cover key topics in health economics, with the aim to provide students with an overview of the U.S. health care system, its components, and the challenges created by the political economy of the system. Emphasis will be given to the overlap between health economics and other applied microeconomics fields, such as industrial organization, public economics, and labor economics. We will explore theory and evidence on the links between health care, insurance, and the labor market; socioeconomic determinants of health; disparities in health; and topics like mental health, long-term care, and disability. Empirical methodologies will be based on the reduced form techniques such as difference-in-differences, fixed effects, regression discontinuity, and include analysis of experiments.

By the end of this course, students will have a clear understanding of how the tools of economics are used to evaluate health-related policies. They will be able to identify crucial health policy questions, identify potential data sources and methodologies to evaluate policies, and come up with recommendations for policymakers.

SE_POL 408: Applied Data Science and Applications in Social Policy

This course introduces the process of using data and data science techniques to explore and examine problems or issues related to social policy. Data science is a new powerful approach or discipline that combines various aspects of statistics, programming, mathematics, computer science, and visualization techniques. In this course, we will learn the fundamentals of methods for harnessing and analyzing the vast quantities of new and heterogeneous data using the Python programming language.

SE_POL 410: Economics of Education

This course provides the foundational tools for analyzing the economics of education. It will provide several different explanations for why people go to school, including both the signaling and human capital models. Methods for estimating the returns to schooling (i.e. income boosts that can be attributed to education) will be applied and covered in detail. These methods include regression, difference-in-difference, regression discontinuity, and instrumental variables. These tools will also be used to analyze other important questions within education, such as the impact of smaller classes and the importance of teachers. Finally, depending on time and student interest other topics will be explored, such as student debt, school accountability, and higher education finance. 

SE_POL 411: Policies in Practice

The premise of this class is that along with traditional approaches to policy analysis, it also is important to have tools and concepts to understand policies “on the ground”—how they directly affect people and organizational practices. How are policies implemented, understood, adapted, augmented, worked around, or resisted in particular organizational contexts? This course will introduce students to important basic ideas of ethnographic fieldwork, both from a historical perspective on how ethnographic field studies have been used to understand organizations in the past (and the concepts that have been developed in these studies) and from the perspective of newer, contemporary approaches (e.g., the use of video interaction analysis methods). The course will also locate policy as one among several social scientific conceptions of how organizations change. Finally, the class will consider the role of human learning in how policies are experienced and implemented. The culminating assignment for the class will be a small fieldwork study in which students investigate a context in which a policy has been implemented and seek to understand through ethnographic methods (e.g. interviews, observations) how the policy is experienced and understood by relevant organizational stakeholders.

SE_POL 414: Strategic Behavior and Policy Analysis

This course will apply economic models (including both game theory and market theory) toward understanding practical problems faced by both individuals and policymakers. Each week students will participate in an experiment (i.e. class activity) in which they compete/cooperate with classmates. Relevant theories will then be articulated and students will be encouraged to reflect on what they observe. Furthermore, when possible, data will be collected and analyzed to determine how well the theoretical model applies to actual behavior.

SE_POL 415: Leadership in Organizations

This course explores individual, organizational, and social factors that influence how leadership is defined and enacted in organizations. This exploration highlights theories and models of effective leadership, providing opportunities to build knowledge, develop your own perspectives, and practice the leadership skills necessary to face the challenges of leading organizations for positive impact in complex environments. We will explore the concept of leadership as a set of organizational responsibilities that are socially conditioned and shaped by different cultural values, social contexts, and individual identities. Readings and activities will cover leadership issues such as: aligning and articulating connections among organization mission, strategy, and culture; recognizing and countering bias to support evidence-based decisions, inclusion, and equity; modeling emotional intelligence; and, developing and inspiring new, emerging leaders.

*This course is jointly offered with the MS in Leadership and Organizational Change (MSLOC) program. MSLOC charges an additional fee (approx. $465 USD) for staffing, technology, and during courses with an on-site component. MSLOC also might charge additional fees for assessments or simulations.

SE_POL 417: International Negotiations in Policy Administration

Negotiations—the process of reaching an agreement when two or more interdependent parties have conflicting interests and positions—are common in all walks of life. Public policy professionals, however, face a unique challenge. They have to routinely operate in a variety of social settings with diverse entities—state, public, private, business, government, non-government. These challenges get augmented in a globally-connected and interdependent world where national cultural contexts introduce an added layer of complexity around effective communication, sense-making, and interpersonal impression management. Policy planners and administrators can prepare themselves better to attain more desirable ‘win-win’ outcomes with an understanding of diverse cultural contexts and how they impact negotiations. This course is designed to provide the necessary knowledge, practice, and techniques to effectively overcome the cultural barriers in international negotiations and acquire global leadership skills for successful careers.

SE_POL 418: Economics of Immigration

Immigration is a critical policy issue in both the United States and virtually every other part of the world. As a result, immigration has been an active area of study for economists. This course aims to provide an in-depth examination of the theoretical concepts and empirical tools necessary to understand several key aspects of international migration, as well as the welfare implications of immigration for both host and home countries. We will be discussing economic theory and academic papers that have extensive amounts of data analysis. By the end of the course, students will have acquired a comprehensive understanding of the economics of immigration and its impact on the economy. They will learn how to evaluate the welfare implications of different immigration policies, such as open borders, selective immigration, and guest worker programs. They will also have developed the skills and knowledge necessary to evaluate the effects of immigration on the labor market, wages, productivity, and economic growth, enabling them to evaluate research and offer well-informed policy recommendations.

SE_POL 419: Digital Marketplaces and Economic Policy Research

The course explores the intersection of digital marketplaces, advanced data science, and economic policy research. The course covers the design and optimization of marketplaces, including demand and pricing functions, growth and acquisition, retention and churn modeling, and data science and engineering. In the second half, students apply marketplace concepts to economic research, learning about regression discontinuity designs, social and economic policy research, and featured research seminars. Through hands-on projects and presentations, students develop a deep understanding of the complexities of digital marketplaces and their applications in economic policy research.

SE_POL 420: Applied Public Finance

The purpose of this course is to 1) provide a working knowledge of modern empirical analysis and brief theoretical underpinnings of selected topics in public finance and 2) to gain experience in identifying and answering public finance-related research questions. The course emphasizes the tools necessary to harness data to answer policy-relevant questions. Topics covered include the measurement of incidence for taxes and subsidies, empirical applications of theories for the provision of public goods, estimation of elasticities of taxable income and their implications for optimal tax-and-transfer policy, detecting and counteracting tax evasion and avoidance, and applications of fiscal federalism and tax competition.

SE_POL 421: Natural Language Processing and Large Language Models in Social Policy

This course provides an introduction to Natural Language Processing (NLP) and the use of Large Language Models (LLMs) in the context of social policy analysis. Students will explore how NLP techniques—such as text classification, sentiment analysis, topic modeling, and event extraction—can be applied to social and economic policy-relevant questions. The course covers both foundational NLP methods and advanced applications, including how deep learning and neural networks can process and analyze large-scale text data to inform decision-making. Through hands-on exercises in Python, students will develop practical skills in building text analytics pipelines, training and fine-tuning language models, and interpreting the outputs of AI-driven policy research. Key topics include:

  • NLP fundamentals: text extraction, preprocessing, and embeddings
  • Sentiment analysis, text classification, and topic modeling
  • Large Language Models (LLMs) such as BERT and GPT for social policy applications
  • Ethical considerations and biases in AI-driven text analysis
  • Visualization and interpretation of NLP outputs

By the end of the course, students will be able to apply NLP techniques to real-world policy issues, design and implement machine learning models for text analysis, and critically evaluate the role of AI in influencing social policy.

SE_POL 422: Applied Macroeconomic Modeling

The purpose of this course is to 1) provide an applied knowledge of the use of monetary and fiscal policy to moderate or exasperate the business cycle 2) to gain experience in computationally solving basic business cycle and similar macroeconomic models. The course emphasizes the modeling tools commonly used by macroeconomists throughout academia and government. Topics covered include business cycles, calibration and estimation of macroeconomic models, and models of heterogeneous agents, all within the context of monetary and fiscal policy 

SE_POL 423: The Economics of Crime and the Criminal Justice System

This course uses the theoretical and empirical tools of economics to analyze criminal laws and criminal behaviors. Topics will include economic models of criminal behavior, the societal costs of crime, the deterrent effects of policing and punishment, the relationship between material conditions and criminal behavior, and the practical functioning of criminal legal systems. Throughout the course, students will engage with current applied economic research around crime and punishment, and significant time and attention will be given to empirical methods used to evaluate the laws and policies regulating crimeWhile the course will be focused on empirical research, we will also take care to understand the legal and policy context in which this research takes place. Discussions of crime data and data analysis will be accompanied by examples of criminal statutes and examinations of how the criminal legal system works in practice. Additionally, we will, wherever possible, use research from outside of the United States in an effort to apply economic analysis in many different contexts.

Optional Spring Quarter: Enhanced Experiential Learning Opportunities

The optional Spring Quarter (April-June) creates an opportunity for active engagement in research or professional settings. Students will apply economic theories and empirical tools, acquired during the training, in solving real-life problems. Students will also develop and practice critical-thinking, problem-solving, and communication skills. Working in small groups, students will collaborate with their fellow classmates and develop strong, lasting relationships with one another.

Guided Experiential Capstone Project

Teams of 3-5 students participate in a structured research-to-practice experience to solve a policy or business problem that a government agency or business faces. Supervised by a professional advisor, participating students have the chance to work with actual data from the selected fields, develop data-driven policy options or business strategies, and deliver an on-site presentation of recommendations to government officials or business executives. Choose from a wide range of projects from 3 content areas (management consulting, applied data science in AI, and applied public finance), receive a blend of lectures, guest speakers, discussions, and complete with an intensive site visit of an organization located in the U.S. for an exceptional learning experience. Typically, this experience includes a 3-day travel component and an associated program fee.

Management Consulting Capstone: In this 10-week capstone experience, students are organized into teams of 4-6 and cast into the role of management consultants to advise businesses executives on issues ranging from talent acquisition and retention, regulation compliance, marketing, and strategic planning. Students will simulate a consulting engagement by developing a statement of work and analytical approach, facilitating meetings with different stakeholders, managing client expectations, and presenting final business recommendations to the client on-site.

Applied Data Science and AI Capstone: A comprehensive and project-based course aims to mimic the experience of being a data scientist in a professional setting or in a field of social science. For a data scientist in the field, it is common to deal with a messy data set, an unclear starting question, and few guidelines on how to analyze the data. During the project, students will engage in the entire process of solving a real-world problem. The process ranges from collecting and processing actual data to applying suitable and appropriate analytic methods to the problem. Projects are selected so that current statistical and machine learning methods can be used to address a social policy problem.

Applied Public Finance Capstone: The goal of this capstone is to expose students to the use of public finance in shaping public policy, chiefly through research-to-practice experiences involving state and federal fiscal policy. Students will gain experience in solving policy problems from the context of policy advising, simulating the experience of balancing the desires of politicians, government officials, lobbyists, and their own economic expertise in creating a white paper and presentation for a public finance policy proposal. You will choose a case study that excites interest, analyze the problem, and propose solutions while simulating the balancing act of satisfying policy objectives and political pressures.

Guided Research Project

Students enroll in a research-intensive experience in which they will develop and implement a self-directed research project. Students will develop a research proposal, conduct empirical research, and write a journal-quality paper at the end of the quarter. Students will meet regularly with a faculty advisor with knowledge or experience in the relevant field of study and receive advice and support from the advisor. The guided research project is a perfect research experience for students who wish to pursue a doctoral degree or work in academia upon graduation.

Global Impact Initiative

As future global leaders, students must understand and be able to manage cultural differences, develop and adapt technical solutions to country context, and acquire soft skills to be effective communicators in a global market. In this one-quarter global engagement, students gain knowledge about a country’s social and economic environment, local culture, and the many aspects of developing programs and policies in the country’s context. Students work with international organizations, interact with representatives from government agencies and business, and solve a policy or business challenge for a partner client. This experience consists of on-campus meetings, group discussions, guest speakers, and one intensive, immersive week in-country travel component where students participate in cultural exchange activities, networking events, and present business or policy recommendations to the client or international events. This experience includes a week-long international travel component and an associated program fee. Travel expenses are not included in the tuition.