Courses Offered and Course Requirements

Course Requirements

Students must at least gain the number of credits in the Required Courses, Elective Required Courses, and Elective Courses for their graduation, as indicated in the following table:

(* Information below is for Class of 2019.)

Required CoursesCore Required Courses14 credits
Advanced Seminars I, II, and III6 credits
Elective Required

Courses Applied Disciplinary Courses at least 14 credits
Electives From among all courses at the IUJ including preparatory courses within the GSIR and the courses offered in the GSIMat least 10 credits
Totalat least 44 credits

Microeconomics I, II
Macroeconomics I, II
Mathematics for Economics and Management (A)
Statistical Methods
Advanced Seminars I, II, and III
Elective Required
Agricultural Economics
Computable General Equilibrium Modeling
Corporate Finance
Cost Benefit Analysis
Cross-Sectional and Panel Data Analysis
Development Economics
Development Planning
Environmental Economics
Financial Accounting and Reporting
Financial Markets and Globalization
Health Economics
Industrial Organization and Public Policy
Inequality and Poverty: Measurement and Applications
International Finance
International Trade
Investment and Asset Pricing
Labor Economics
Macroeconomics and Policy Analysis
Market Structure and Policy Analysis
Monetary Economics and Policy Analysis
Money and Banking
Public Finance
Public Finance and Budgeting
Public Sector Economics
Quantitative Methods for Decision Making
Research Methodology
Time Series Analysis
Comparative Government and Politics
Environmental Policy
Postwar Japanese Economy
Project Cycle Management
Public Administration
Public Finance and Budgeting
Public Human Resource Management
Public Management
Public Management Information Systems
Public Organization Theory
Public Policy Process
It is recommended that students chooses Electives from above. Student can also choose other courses offered by GSIR and GSIM. Chinese Foreign Policy
Contemporary Japanese Politics
Essentials of Economics
Foreign Policy Analysis
Global Civil Society
History of International Relations
Human Rights and Global Justice
International Economic System and Order
International Law
International Migration and Human Security
International Organizations
International Political Economy
International Politics
Japanese Political Economy
Peace, War and Development of Modern Japan
Postwar Japanese Economy
Southeast Asian International Relations
UN and Global Governance

Language Courses

English Academic English I, II, III

English for Thesis Writing I, II

English for Professional Communications

Japanese Basic Japanese I, II, III, IV, V, VI

Elementary Japanese I, II, III

Intermediate Japanese I, II, III

Advanced Japanese I, II, III, IV, V, VI

Business Japanese I, II, III

*Please note that any credit gained from language courses cannot contribute towards your graduation, while you can earn some credits by taking language courses.

Description of Core and Elective Courses

(MA in Economics)

Core Required Courses


Microeconomics I    Microeconomics is mainly concerned with how individuals and firms behave in markets with different degrees of competitiveness. This course provides students with the basic concepts, analytical framework and way of thinking of microeconomics. We will first analyze how consumers and firms make decisions when markets are competitive, and how those decisions are aggregated to form market demand and supply. We will next consider imperfectly competitive markets and study how firm behavior changes as degrees of competitiveness vary.

Macroeconomics I    For government officials of modern societies, knowledge of Macroeconomics is indispensable for providing any constructive policy recommendations, which in a large extent affect people’s welfare. Even for an ordinary citizen, knowledge of Macroeconomics also plays an important role in understanding complicated (and sometimes confusing) economic phenomena in his/her daily life. Due to this importance, this course is designed to provide students a solid foundation in Macroeconomics.

Broadly speaking, the topics to be covered consist of (i) a brief introduction of national income, (ii) the meaning of inflation and its relation to the monetary system, (iii) the models of exchange rates, (iv) the determination of unemployment, and (v) basic economic growth theories. Since this course is introductory, the requirement for mathematics is NOT that high. The college-level calculus knowledge will be sufficient to understand the course materials. Actually, students will only use differential calculus but not integral calculus.

Mathematics for Economics and Management (A)  Mathematics for Economics and Management is an intermediate course in calculus which covers topics such as functions, limits, derivatives, integration, and optimization. The course will be useful to understand course materials in various subjects in social science such as business, economics, public management and/or political science.

Statistical Methods   This course is an introduction to probability and statistics. The course covers descriptive statistics, basic probability theory, estimation, hypothesis testing, and regression analysis. The goal of the course is to equip students with these statistical tools, which will form a basis for understanding econometric models in the subsequent courses.

Microeconomics II   The first part of the course reviews the consumer and producer theory and deals with the general equilibrium and welfare theorem. The decision making under uncertainty shall also be discussed. The second part of the course deals with game theory and strategic behavior. Fundamental topics covered include static games, dynamic games, and their applications. We also provide an introduction to problems raised by asymmetric information, externality and public goods. There is substantial emphasis on the use of analytical and mathematical tools. These tools and the subject material underpin much of the current research in microeconomics.

Macroeconomics II   This course continues the trainings in macroeconomic theory for students in the economics or international development program. The content of this course focuses on the modern business cycle theories. By studying these theories, we could understand the long-standing questions – what causes the business cycle, and what can we do about it?

The discussion starts from a two-period, competitive equilibrium model, by which we study consumer’s optimal decisions on consumption, saving, and labor supply, and firms’ decisions on production. Moreover, we explore how agents’ decision and market prices change in response to the shocks in the economy (e.g. government spending shocks and productivity shocks).

Having the intuition drawn from a two-period model, we move further to study the real business cycle (RBC) model. RBC is the core framework of modern business cycle theories. By incorporating different frictions and shocks, topics such as optimal monetary policy, fiscal stabilization, and optimal exchange rate regime can be explored. In this course we will go though the necessary quantitative tools and concepts, including model linearization and calibration. In addition, some extension topics will also be covered.

Econometrics   Knowledge of regression model and its extension is essential for doing empirical work in economics and other social sciences. The purpose of this course is to teach student econometric and computational skills which are necessary for data analysis. The emphasis will be placed on application of the theory from a practical point. Topics include Simple and Multiple Linear Regressions and Instrumental Variable Estimations and the Simultaneous Equation Models.