Emerging Capital Markets: Theory & Pract

Priority Reg: IFEP Concentration. Prerequisite Course: SIPAU6401 - Macroeconomic Analysis. This course aims to expose students to the historical relationships between financial risk, capital structure, and legal and policy issues in emerging markets.

Students will identify investor and borrower behavior patterns, evaluate sovereign capital structures, and analyze sovereign defaults, including the debt negotiation process during the various debt crises of the past four decades. This course will also study the genesis and outcome of several banking and stock market crises in emerging countries.

We will explore the impact of China's growing influence, the global financial crisis, the changing world order on emerging capital markets, and the evolving definition of “emerging market” in the wake of the crisis. Finally, we will analyze how Environmental, social, and governance investment trends impact emerging market countries and investors, as well as the opportunities and risks brought along by recent generative AI breakthroughs. 

While relying on history, economics, and legal analysis, this course will be imbued with a practitioner’s perspective through the instructors’ direct involvement in these events. We will endeavor to bring in speakers who are leaders in their fields and who have had significant roles in the development of the markets. 

We consider a solid grounding in economic and financial history one of the most important and usually neglected backgrounds for individuals who expect to be involved in banking or economic policy-making. Despite our investing backgrounds, this course will not require a high level of macro-economic/finance theory from students, although expertise in these areas will be more than helpful.